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 is rebounding from the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0675 is expected, followed by a rise to 1.0815. An additional signal confirming the rise will be a rebound from the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the resistance at 1.0740. However, the price might pull back to 1.0650 and continue the uptrend upon testing the support. USDJPY, “US Dollar […]
Bitcoin Bites Back After some time out of the limelight, Bitcoin has been grabbing attention again recently with some mouth-watering volatility. The leading cryptocurrency has seen impressive gains over 2023, encouraging bulls that we might see a return to the sort of upside we saw in late 2020/early 2021. There are a number of factors […]
Recession Risks Loom The British Pound is seeing further selling today on the back of the latest UK growth data released this morning. The data, while a little better than forecast, pointed to anaemic growth in the UK and has done little to pushback against recession risks. The monthly GDP reading was seen at 0.2%, […]
Daily Market Outlook, November 10, 2023 Munnelly’s Market Commentary… Asia – Stocks across the board faced a widespread decline, echoing the negative sentiment emanating from Wall Street that rippled through the APAC region. Multiple factors contributed to this downturn, including a lacklustre 30-year US auction and Federal Reserve Chair Powell’s hawkish stance. In the APAC […]
TitleGBPNZD H4 | Heading into resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 2.07946 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 2.06326 which is a pullback support […]
TitleUSDCHF H4 | React off overlap resistance? TypeBearish Reversal Preference: The price is rising toward our pivot point of 0.90698, which serves as a pullback resistance level aligning with the 78.6% Fibonacci. A reversal from this point could lead the price to drop to the 1st support at 0.8982, an overlap support level. Alternative scenario: […]
TitleAUDJPY H4 | Falling to 50% Fibo support TypeBullish Bounce Preference:Price is falling towards the pivot point of 95.787 which is an overlap support that aligns close to the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 96.592 which is a […]
TitleGBPUSD H4 | Falling to support level? TypeBearish Reversal Preference: Price is currently at our pivot of 1.2242 which is an overlap resistance level that aligns with the 61.8% Fibo retracement. A bounce from this point could lead the price to rise to the 1st resistance at 1.23009, a multi-swing high resistance Alternative scenario:However, if […]
Hawkish Fed Comments The US Dollar is trading higher today on the back of keenly awaited comments from Fed chairman Powell yesterday. Powell warned that it was too early for the Fed to say that peak rates are in place with the central bank “not confident” that it has yet done enough to bring inflation […]
The BTC exchange rate rose to 36,703 USD on Friday. The weekly increase is 6.2%, with a peak price of 37,962 USD. The market appears overly optimistic despite the hypothetical shift from a seasonal trend to a corrective one. From a technical standpoint, buyers are confidently approaching the 38,000 USD mark, targeting the next level […]
The British pound sterling has extended the wave of decline against the US dollar even further. The current GBPUSD exchange rate stands at 1.2222. The pound is declining after dovish comments made by several monetary policymakers in the UK. All market attention is somehow tied to interest rate forecasts, which remain too uncertain. Today, the […]