Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleNZDUSD H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.58333 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.57733 which is a swing-low overlap […]
PCE Inflation vs. CPI: The Fed’s Guiding Star The release of the Personal Consumption Expenditures (PCE) inflation report has sent ripples through the markets. PCE inflation, second in importance only to the Consumer Price Index (CPI), is closely monitored by the Federal Reserve. In September, the Core PCE, a measure that excludes volatile food and […]
TitleUSDCHF H4 | Falling to support level? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 0.8999, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 0.8951, a pullback support level. Alternative scenario:However, if the price breaks above the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a wave of decline to 1.0521. Today the quotes might correct to 1.0590. After the price reaches this level, a new wave of decline to 1.0515 could begin. This is the first target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed a wave of decline […]
Brent Brent quotes are below the 200-day Moving Average on H4, revealing the probability of a downtrend development. The RSI is testing the resistance line. In this situation, a downward breakout of 4/8 (87.50) is expected, followed by a decline to the support at 2/8 (84.38). The scenario can be cancelled by rising above the […]
Daily Market Outlook, October 27, 2023 Munnelly’s Market Commentary… Asia – Asian stocks are trading with a positive bias, driven by well-received earnings reports from Amazon and Intel, which lifted sentiment after a mostly lower close on Wall Street. The Nikkei 225 is experiencing gains, primarily driven by its Industrial sectors, potentially in response to […]
US Yields Rising A fresh rise in US yields this week linked to a slew of better-than-forecast US data has seen US stocks coming under fresh pressure. Against the backdrop of rising uncertainty linked to the conflict in the Middle East, the near-term outlook for US stocks has dimmed considerably. Of course, tech stocks are […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The pullback target might be 1.3750. Next, the price could rebound from the support level and extend the uptrend. However, the quotes might rise to 1.3880 […]
The main currency pair on Friday keeps balance. The current EURUSD exchange rate stands at 1.0566. The currency market has faced an avalanche of statistics and other information. At the last meeting, the European central bank decided to leave the interest rate at 4.5% per annum. For now, the regulator does not consider softening its […]
ECB Pauses… For Now On the back of ten consecutive rate hikes, the ECB yesterday paused its tightening program, citing the recent drop in inflation as well as underlying weakness in the eurozone economy. The meeting was a relatively muted event, though was perhaps more on the dovish side than some were expecting. Lagarde warned […]
TitleAUDUSD H4 | Rising into 61.8% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.63472 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.62928 which is a […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2155 is expected, followed by a decline to 1.1915. An additional signal confirming the decline […]