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 an impulse of decline to 1.0664, correcting to 1.0704 today. Extension of the correction to 1.0711 is not excluded. Next, the wave of decline might continue to 1.0640. And if this level also breaks downwards, the potential for a wave to 1.0566 might open. This is a […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support level. A test of 2/8 (0.6469) is expected in these circumstances, followed by a breakout of this level and a rise to the resistance level of […]
JPY Falling Further The Japanese Yen is weakening across early trading on Monday following the latest comments from BOJ governor Ueda today. Speaking a few hours ago, Ueda signalled that the prospect of negative rates being reversed this year was very low. While Ueda acknowledged that the bank had made progress in terms of bringing […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the Kijun-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.2205 is expected, followed by a rise to 1.2505. An additional signal confirming the rise will be a rebound […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the support level of 1.0650. However, the pair might rise to 1.0750 and continue the uptrend without testing […]
BTC Rally Pauses for Now Bitcoin bulls remain in limbo for now as the leading crypto asset continues to hang out just below recent highs. Excitement and speculation regarding anticipated BTC ETF approval has been keeping Bitcoin prices well supported over recent months, helped by a shift in the market’s Fed expectations. However, on the […]
After a series of risk-on days, FX markets are now consolidating with the dollar on the rise against its major peers. This follows some intriguing price movements triggered by the Reserve Bank of Australia’s 25 basis point interest rate hike, as well as mixed economic data from China. Today’s trading session appears relatively calm, but […]
TitleGBPUSD H4 | Rising towards resistance? TypeBullish Bounce Preference:The price is falling toward our pivot point of 1,2323, which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 1,2417, a multi-swing high resistance. Alternative scenario:However, if the price breaks below the pivot, […]
TitleEURUSD H1 | Bouncing off support? TypeBullish Bounce Preference:The price is falling toward our pivot point of 1.0686 which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 1.0722, an overlap resistance. Alternative scenario:However, if the price breaks below the pivot, it […]
The primary currency pair is facing a retreat on Tuesday. The current EURUSD exchange rate stands at 1.0706. Risk sentiment in the global foreign exchange market has become notably complex, benefitting both the USD and the EUR. The macroeconomic calendar brought forth the statistics from the eurozone on Monday. The final services PMI remained at […]
The Australian dollar is falling against the US dollar on Tuesday. The current AUDUSD exchange rate stands at 0.6437. At its November meeting, the Reserve Bank of Australia decided to raise the interest rate to 4.35% per annum from the previous 4.10%. In its comments, the RBA noted long-term inflation concerns. Naturally, this did not […]
Daily Market Outlook, November 7, 2023 Munnelly’s Market Commentary… Asia – stocks experienced a decline across the board, retreating from the previous day’s gains, with Wall Street’s mixed performance contributing to the uncertainty. South Korea’s KOSPI was a significant underperformer, dropping over 2.8% following the previous day’s surge driven by the ban on stock short-selling. […]