Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Copper Rally Pauses for Now Copper prices are beginning the week in a quieter fashion after the solid gains we saw last week. The market surged higher by more than 4% as weakness in the US Dollar helped lift demand. Prior to last week’s rally, copper prices had been under heavy pressure as an uptick […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the upper boundary of the descending channel. The instrument is going inside the Ichimoku Cloud, indicating the prevalence of a sideways trend. A test of the upper boundary of the Cloud at 1.0780 is expected, followed by a decline to 1.0645. An additional signal confirming the […]
EURUSD, “Euro vs US Dollar” The EURUSD pair is forming a consolidation range around 1.0760. A decline link to 1.0755 is not excluded today. The quotes might escape the range upwards, aiming at 1.0823. Once this level is reached, a new decline wave to 1.0717 is expected. This is the first target of a new […]
TitleXAUUSD H4 | Bullish Bounce TypeBullish Bounce Preference: Price has just bounced the pivot point of 2015, an overlap support level. A bounce from this level could lead the price to rise to 1st resistance at 2029, an overlap resistance Alternative scenario:If price breaks below the pivot, it could fall to 1st support at 2006, […]
TitleNZDJPY M15 I Potential bearish reversal TypeBearish Drop Preference:Price has jsut reacted off the pivot point of 92.24, an overlap resistance that aligns with the 61.8% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 92.06, a pullback support level. Alternative scenario: If price breaks above the […]
The Japanese yen, paired with the US dollar, is constantly changing its trajectory. The current USDJPY exchange rate stands at 150.16. Today, the market focuses on discussions about currency interventions in Japan. On Tuesday, Finance Ministry spokesman Atsushi Mimura noted that the Japanese authorities are in ongoing dialogue with their foreign counterparts and the Central […]
The Australian dollar is strengthening against the US dollar. The current AUDUSD exchange rate stands at 0.6531. China has resumed its everyday activities, giving Australia more reasons to react. This morning, China reduced its benchmark mortgage rate to bolster the housing market, which had previously experienced a decline. Capital markets responded positively to the news, […]
Daily Market Outlook, February 20, 2024 Munnelly’s Market Minute… “Sentiment Shaky As US Comes Back Online” Investor confidence has been unsettled by the Asia session, as U.S. equity futures falter and Treasury yields increase. Although China has made substantial cuts to mortgage rates, the mainland stock markets continue to struggle with no signs of recovery. […]
TitleEURJPY H4 | Bearish drop TypeBearish Drop Preference:The price is trading at pivot at 161.839, the swing-high resistance. Price could reverse from the pivot and fall to the 1st support at 160.166, the overlap support. Alternative scenario:Alternatively, price could break out of the pivot and rise to the 1st resistance at 162.822, the overlap resistance. […]
TitleGBPUSD M15 I Bearish Drop TypeBearish Drop Preference: Price is currently at the pivot point of 1.2612, A reverse from this level could lead the price to fall to 1st support at 1.2555, a multi-swing low support level. Alternative scenario:If price bounces the pivot, it could rise to 1st resistance at 1.2658. above swing high […]
Gold continued its triumphant streak for the third consecutive day on Monday. From a technical analysis perspective, buyers have not yet reached any specific target, but overall, they are approaching it. For instance, within the current bearish corridor, the area around $2040 appears to be an attractive target, where the upper bound of the channel […]
The primary currency pair keeps balance on Monday. The current EURUSD exchange rate stands at 1.0775. This morning, everything is quiet. The US dollar is stable: the country is on holiday because of Presidents’ Day. Intraday activity is expected to be diminished on the whole market spectrum. Last week’s data demonstrated that the producer price […]