Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleBCOUSD H4 | Rising into pullback resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 87.859 which is a pullback resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 85.881 which is a pullback support level. Alternative scenario:IIf price breaks above the pivot […]
TitleEURUSD H4 | Reacting off 61.8% Fibo? TypeBearish Reversal Preference: Price is rising toward our pivot point of 1.05502, which serves as a pullback resistance level aligning with the 61.8% Fibonacci. A reversal from this point could lead to a price drop to the 1st support at 1.04886, an overlap support level. Alternative scenario: However, […]
EURUSD, “Euro vs US Dollar” EURUSD has made a corrective movement to 1.0530. At the moment, the market is forming a consolidation range under this level. An extension to 1.0535 is not excluded today. After the price reaches this level, a new declining wave to 1.0482 is expected. Breaking this level, the price might drop […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the support line. In this situation, a test of 5/8 (0.9094) is expected, followed by a rebound from it and a rise to the resistance at 7/8 (0.9216). The […]
The price of Bitcoin has tested the level of 28500. However, Bitcoin didn’t manage to hit the key levels of 29000 and 30000. The asset’s price might still retest the broken downtrend, rebound, and target the resistance area formed between levels 29000 and 30000. So, let’s observe whether this scenario might work out. The price […]
TitleUS30USD H4 | Heading into 23.6% Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 33263.89 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 32829.28 which is a […]
EURUSD, “Euro vs US Dollar” EURUSD is correcting after an attempt to break the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.0535 is expected, followed by a decline to 1.0345. An additional signal confirming the decline will be a rebound from […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern near the support area. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target could be 1837.50. Upon testing the resistance, the price might rebound from this level and form a descending wave. However, the quotes could […]
TitleUSDJPY H4 | Downside confirmation? TypeBearish Reversal Preference: Price is currently at our pivot point at 148.5, which is a pullback resistance level. A reversal from this point could lead to a price drop to the 1st support at 147.753, a pullback support level. Alternative scenario:However, if the price breaks above the pivot, it might […]
Daily Market Outlook, October 5, 2023 Munnelly’s Market Commentary… Asian equity markets mostly traded higher, finding relief as risk assets rebounded with yields retreating from recent highs after weak US ADP jobs data and a drop in oil prices. The Nikkei 225 led the gains, up 1.6%, breaking a five-day losing streak. Meanwhile, the KOSPI […]
The Japanese yen stabilised against the US dollar. The current USDJPY exchange rate stands at 149.27. The JPY quotes increased in response to news about talks on interventions. Last autumn, Japanese authorities intervened in currency trades when the yen dropped to 145.90 per US dollar. This time, the dollar managed to reach 150.11 JPY, but […]
The BTC exchange rate has declined to 27,390 USD by Wednesday. The flagship cryptocurrency struggled to secure above 28,250 USD. A significant resistance level stands at 28,500 USD, while a more ambitious target for a rise remains at 30,000 USD. To reach this level, the BTC needs a new strong impulse. The fundamental background appears […]