Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Daily Market Outlook, November 16, 2023 Munnelly’s Market Commentary… Asia – .stocks experienced mixed performance, influenced by the choppy trading in the U.S. and a waning of recent data-driven momentum. The Nikkei 225, despite better-than-expected exports and machinery orders, saw a 0.1% decline as investors opted to book profits. in Hong Kong, the Hang Seng […]
TitleAUDJPY H4 | Falling to 38.2% Fibo support TypeBullish Bounce Preference: Price is falling towards the pivot point of 97.473 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 98.564 which is […]
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 1.0800. However, the price might rise to 1.0910 and continue the uptrend without testing […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has found a foothold above the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud suggesting a downtrend. A test of the Kijun-Sen line is expected at 1.2355, followed by a rise to 1.2580. An additional signal confirming the growth could be a rebound from the […]
SEC Delays… Again Bitcoin prices surged higher once again yesterday with BTC futures rallying almost 10% off the week’s lows yesterday. The move came amidst news that the SEC has deferred ruling on the Hashdex Bitcoin ETF until 2024, having made a similar ruling on other crypto ETF applications. Judging by the market reaction it […]
USD Selling Pauses The US Dollar failed to continue the breakdown we saw on Tuesday as better-than-forecast retail sales data yesterday helped stem the selling. While still very weak at 0.1%, down from 0.8% prior, given that the data was marginally better than the -0.1% forecast, bulls were able to hang on. Empire state manufacturing […]
The Australian dollar rose steadily against the US dollar by Wednesday. The current AUDUSD exchange rate stands at 0.6500. The surge was mainly fuelled by the decline of the US dollar in the global currency market after the release of the October inflation report. This morning, China released a block of economic statistics that bolstered […]
TitleEURUSD H4 | Bouncing off support? TypeBullish Bounce Preference:The price is falling toward our pivot point of 1.07545, which serves as a pullback support level that aligns with the 38.2% Fibo retracement. A bounce from this point could lead the price to rise to the 1st resistance at 1.08727, an overlap resistance. Alternative scenario:However, if […]
TitleAUDUSD H4 | Bullish reversal off 38.2% Fibo TypeBullish Bounce Preference: Price is falling towards the pivot point of 0.64553 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.65226 which is […]
The BTC exchange rate fell to 35,560 USD by Wednesday. From a technical standpoint, the 38,000 USD mark remains relevant for buyers in the medium term, with the next target located at 42,000 USD. For growth to resume, the market needs to maintain equilibrium within the range of 35,000-37,000 USD. Currently, a technical correction has […]
The major currency pair is holding firm, having reached ten-week peaks on Wednesday. The current EURUSD exchange rate stands at 1.0880. The market experienced significant turbulence yesterday evening, triggered by the release of US price reports. The Consumer Price Index for October turned out to be zero month-on-month compared to the forecasted rise of 0.1% […]
TitleXAUUSD H4 I Falling to support level? TypeBearish Reversal Preference:The price is rising toward our pivot point of 1976, which serves as a pullback resistance. A reversal from this point could lead the price to drop to the 1st support at 1944, an overlapping support level. Alternative scenario:However, if the price breaks above the pivot, […]