Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleUSDCAD H4 | Potential bearish breakout TypeBearish Breakout Preference: Price is falling towards the pivot point of 1.35768 which is a pullback support and could potentially break below this level; we could see momentum carry price down to its 1st support at 1.35248 which is a pullback support level. Alternative scenario:If price breaks above the […]
TitleNZDUSD H4 | Bullish bounce off overlap support TypeBullish Bounce Preference: Price is falling towards the pivot point of 0.60047 which is an overlap support that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.6057 which is […]
The British pound sterling against the US dollar is confidently rebounding after a series of prolonged declines. The current GBPUSD exchange rate stands at 1.2290. With investor confidence in taking risks gradually returning to the market, the GBP is moving away from its recent lows. It is worth remembering that that September marked the worst […]
TitleGBPNZD H4 | Reversal of 50% Fibo resistance TypeBearish Reversal Preference:Price is trading close to the pivot point of 2.0418 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 2.02752 which is a […]
EURUSD, “Euro vs US Dollar” EURUSD has made a rising movement to 1.0619. Today the market is forming a consolidation range under this level. With an escape from the range upwards, the potential for a wave of growth to 1.0672 could open, followed by a link of correction to 1.0595 (with a test from above). […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the price is expected to rise above the 7/8 (149.21) level, reaching 8/8 (150.00) later. The scenario can be cancelled by a downward […]
On Wednesday, markets saw growing speculation that the Federal Reserve won’t be able to sustain high interest rates for an extended period. This is due to the recent surge in Treasury bond yields, especially the long-term ones, which inherently exerts a strong disinflationary effect. The Central Bank (CB) itself acknowledged this, and in a previous […]
TitleEURJPY H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is rising towards the pivot point of 158.26 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 156.698 which is an overlap support level. Alternative scenario: If price breaks above […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0555 is expected, followed by a rise to 1.0750. An additional signal confirming the rise will be a rebound from the […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD 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 1.3690. Next, the price might break the resistance and continue the uptrend. However, the quotes could correct to 1.3555 before rising. AUDUSD, […]
Daily Market Outlook, October 11, 2023 Munnelly’s Market Commentary… Asian equity markets followed the positive global sentiment driven by recent dovish comments from the Federal Reserve and optimism regarding potential stimulus measures in China. The Nikkei 225 gained, briefly surpassing the 32k handle. Hang Seng and Shanghai Comp. also traded higher, with expectations of increased […]
The price of BTC declined to 27,112 USD on Wednesday. From a fundamental standpoint, the market is still uneventful, with no indications about the progress of Bitcoin ETF application approvals. The first updates are expected next week, but there is no certainty that they will be positive. The cryptocurrency sector does not react to investors […]