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 has completed a wave of correction to 1.0900 and a new decline wave to 1.0821. Today the quotes might correct the previous decline wave. The correction target is the 1.0860 level. Once it is reached, the next decline wave to 1.0790 could begin. This is the first target. GBPUSD, […]
TitlePullback Resistance at 61.8% Fibo TypeBearish Reversal Preference:Price could rise towards the pivot point of 1.27362 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 1.26573 which is a swing-low support level. Alternative […]
TitleEURGBP Day | Bearish continuation TypeBearish Breakout Preference:The current price is on the pivot point at 0.85259 an overlap support, it could breakout and continue with the downtrend and fall to 1st support at 0.83371, the swing-low support. Alternative scenario: If the trend reverses and bounces off the pivot point, it might rise to 1st […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0865 is expected, followed by a decline to 1.0695. An additional signal confirming the decline could […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be the resistance level of 1.0880. However, the price might drop to 1.0790 and extend the downtrend without any pullback. […]
The EUR/USD faced a short-term sell-off, which was later recouped following the European Central Bank’s decision to maintain the Main Refinancing Operations Rate at 4.50% during its initial policy meeting in 2024. Despite market expectations aligning with the central bank’s decision, investors are now turning their focus to potential guidance on future interest rate cuts. […]
The price of Bitcoin is trying to remain under the broken support level of 40234. Should the asset stay there at the end of the trading week, its price might drop to the level of 35000. Of course, the bearish trap might potentially form. However, a price drop is ahead. So, let’s observe when it […]
US GDP Due Along with the January ECB meeting, the other key focus for markets today will be advance US Q4 GDP. Yesterday, both the US services and manufacturing PMIs were seeing coming in above forecasts, adding to the recent run of strong US data. Forecasts for today, however, are set a little low. The […]
Daily Market Outlook, January 25, 2024 Munnelly’s Market Minute…“Tesla Earnings Disappoint, ECB On Deck” Asian markets saw modest gains, although the overall positive momentum was limited due to the impact of various earnings reports and the recent increase in global yields, which partially offset the excitement over Chinese stimulus measures. The Nikkei 225 eventually turned […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a correction wave to 1.0931 (a test from below), forming a decline impulse to 1.0889 and its correction to 1.0907 today. A structure of the second decline impulse to 1.0862 is currently forming. Upon reaching this level, the quotes might correct to 1.0884 (a test from below) […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on H4, revealing the probability of an uptrend development. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 6/8 (0.8667) and reach the resistance at 7/8 (0.8728). The scenario could be cancelled […]
Crude Rallying on Inventories Data Oil prices are pushing higher today with crude futures close to testing the December highs. The latest inventories report from the EIA yesterday recorded a heavy 9.5 million barre drawdown, far deeper than the 1.5 million-barrel draw the market was looking for. This comes on the back of a 2.5-million-barrel […]