Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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EURUSD, “Euro vs US Dollar” EURUSD quotes have rebounded from the 0/8 (1.0742) level on H4 and started growing. The RSI has risen above the resistance line. In this situation, the quotes are expected to rise above 1/8 (1.0803), subsequently reaching the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.3545. Next, the price might have a chance for breaking the resistance and extending the uptrend. However, the quotes could correct to […]
EUR/USD displayed resilience last week, closing positively for the fourth consecutive day, though ultimately ending the week virtually unchanged. Despite an initial surge to the 1.0800 mark, marking a one-week high, the pair succumbed to downward pressure during the European session, largely influenced by deficit of medium-term buyers. Uncertainty around forthcoming US CPI release, with […]
Silver/Gold Breaking Correlation Silver prices are today breaking from their typical correlation with gold. While the yellow metal has come under pressure on Monday, silver prices are trading higher. The move has been attributed to position covering ahead of upcoming major data with moves being exacerbated in low volume markets due to China being offline […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the lower boundary of the Cloud. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.2640 is expected, followed by a decline to 1.2475. An additional signal confirming the decline could […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a correction to 1.0799. Currently, the market is forming a narrow consolidation range under this level. A range extension link to 1.0805 is not excluded today. Next, a decline to 1.0730 might follow, from where the trend could extend to 1.0666. This is a local target. GBPUSD, […]
Daily Market Outlook, February 12, 2024 Munnelly’s Market Minute…“Quiet Start To A Data Heavy Week” Asia was quiet on Monday with several centers on holiday. It’s also a public holiday for Lunar New Year in New York State for the first time, but that doesn’t seem to include Wall Street. U.S. stock futures, European equity […]
Middle East in Focus Crude prices are seeing a quieter start to the week, following the rally we saw last week, as traders await fresh directional catalysts. News that Israel has ‘concluded’ its strike on Southern Gaza is drawing focus from oil traders. The news comes just days after Israel rejected Hamas’ ceasefire offer which […]
The Japanese yen, paired with the US dollar, remains stagnant at the beginning of the week. The current USDJPY exchange rate stands at 149.21. At the same time, the USDJPY pair hovers near a ten-week low. Due to the information vacuum and lack of significant news, investors have opted to conserve energy and simply wait. […]
The primary currency pair is rising cautiously on Monday. The current EURUSD exchange rate stands at 1.0795. Nevertheless, the primary currency pair closed Friday with a decline – marking the fourth consecutive week of losses. The market disregarded the revision of December’s US consumer price statistics, which rose less than anticipated. Meanwhile, core inflation appears […]
The latest data on the American economy show that it is growing significantly faster than previously thought: over the past two weeks, the estimate of the quarterly GDP growth rate, calculated by the New York Federal Reserve, has been revised upwards by almost 1% – from 2.42% to 3.31%: This reassessment was driven by four […]
Crude Rallying This Week Crude futures are trading around 7% higher on the week currently. The market has reacted sharply to news that Israel has rejected Hamas’ ceasefire offer with crude jumping around 3.6% yesterday. News of the ceasefire being rejected was accompanied by a heavy bombing onslaught on the city of Rafah. Traders are […]