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 testing the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the upper boundary of the Cloud at 1.0565 is expected, followed by a decline to 1.0365. An additional signal confirming the decline will be a rebound from the […]
Daily Market Outlook, October 16, 2023 Munnelly’s Market Commentary… Asian equity markets are predominantly in the red due to ongoing geopolitical concerns related to the Israel-Hamas conflict, which has the potential to affect neighbouring countries. The Nikkei 225 has underperformed, breaking below the 32K handle, despite a lack of fresh catalysts. The Hang Seng and […]
TitleUS30USD H4 | Bullish bounce off 78.6% fibo? TypeBullish Bounce Preference: Price could fall to our pivot point at 33570.8, which is an overlap support level, aligning with the 78.6% fibo retracement. If price bounces off our pivot point, then price could rise towards the 1st resistance at 33898.2, which is a multi-swing high resistance […]
TitleGBPUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:The price has just reacted off our pivot point of 1.23359, which serves as a swing-high resistance level aligning with the 127.2% Fibonacci extension. A reversal from this point could lead to a price drop to the 1st support at 1.22596, an overlapping support level. Alternative scenario:However, […]
Daily Market Outlook, October 12, 2023 Munnelly’s Market Commentary… Asian equity markets saw gains, supported by Wall Street’s rebound and dovish Fed commentary. The Nikkei 225 advanced following softer PPI data and dovish comments from BoJ Board Member Noguchi. Hang Seng and Shanghai Comp. were up, with Hong Kong leading the way by breaching the […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of growth to 1.0638. The market has formed a consolidation range under this level and, escaping it downwards, continues developing the declining wave to 1.0470. After the price hits this level, a link of growth to 1.0550 is not excluded (with a test from below), […]
Brent Brent quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, the price is expected to rebound from 3/8 (85.94) and drop to the support of 1/8 (82.81). The scenario can be cancelled by rising above the 3/8 […]
The report on consumer prices in the United States triggered a U-turn in the dollar yesterday, as the widely expected slowdown in inflation did not materialize. Despite the relatively unremarkable overall picture – overall inflation remained at 3.7%, and core inflation slowed from 4.3% to 4.1% – the markets were deeply concerned about the details […]
TitleGBPJPY H4 | Bearish reversal off 61.8% fibo? TypeBearish Reversal Preference:Price could rise towards our pivot point at 183.85, which is a multi-swing high resistance level, aligning with the 61.8% fibo projection. If price rejects our pivot point, then price could fall to the 1st support level at 182.29, which is an overlap support and […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY has secured above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 149.35 is expected, followed by a rise to 151.25. An additional signal confirming the rise will be a rebound […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Doji reversal pattern. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 1900.00. Upon testing the resistance, the quotes might break it and continue developing the ascending wave. However, the quotes could drop to 1860.00 before rising. […]
TitleBCOUSD H4 | Bearish reversal off 38.2% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 88.744 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 85.624 which is […]