Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The major currency pair remains in a neutral position as we approach midweek. The current EURUSD exchange rate stands at 1.0605. The primary currency pair is holding within a narrow range while the market is awaiting the release of the latest meeting minutes from the US Federal Reserve and the signals they may provide. In […]
TitleEURUSD H4 | Bearish reversal off pullback resistance TypeBearish Drop Preference: Price has reversed from a pullback resistance and we could see momentum carry price down to its 1st support at 1.04934 which is a pullback support level. The pivot point is at 1.06014. Alternative scenario:If price breaks above the pivot point, it could hit […]
TitleUSDJPY H4 | Rising into resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 149.427 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 148.162 which is a pullback support level. Alternative scenario:If price breaks above the pivot […]
EURUSD, “Euro vs US Dollar” EURUSD has made a corrective movement to 1.0519. Today the market continues developing the rising movement to 1.0595. Next, a consolidation range could form around this level. With an escape upwards, the potential for a rising wave to 1.0670 might open. Next, a corrective link to 1.0595 is not excluded […]
The wave of risk aversion on Monday, following the tragic events in Israel, is gradually fading away. There appears to be a growing market consensus that the conflict will remain local, and third-party countries won’t get involved. The market’s reaction on Monday still lingers in the oil market; prices are hesitant to drop after surging […]
TitleBCOUSD H4 | Bullish bounce off 50% Fibo? TypeBullish Bounce Preference:Price is falling towards the pivot point of 87.034 which is an overlap support that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 90.134 which is a pullback […]
The major currency pair appears neutral on Tuesday. The current EURUSD exchange rate stands at 1.0565. US treasury bond yields experienced a slight decline yesterday, coinciding with a drop in the value of the US dollar. In the absence of news and stock market information, investors were engaged with their preferred activity, namely looking for […]
XAUUSD, “Gold vs US Dollar” Gold has formed an Engulfing pattern near the resistance level. Currently, the instrument might go by the reversal pattern in a descending wave. The decline target could be 1835.00. Upon testing the support level, the price might break it and continue developing the descending wave. However, the quotes could pull […]
Daily Market Outlook, October 10, 2023 Munnelly’s Market Commentary… Asian equity markets opened the week on a mostly positive note as markets returned from the long weekend. This positive sentiment was influenced by the recovery seen on Wall Street, partly due to dovish-leaning comments from Federal Reserve officials. The Nikkei 225, returning from the holiday […]
TitleUSDCAD H4 | Rising into resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.36122 which is an overlap 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 1.35549 which is a level that […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is approaching the support line. In this situation, a downward breakout of the 6/8 (0.6408) level could be expected, followed by a decline to the support at 4/8 (0.6347). The scenario […]
XAUUSD, “Gold vs US Dollar” Gold is growing after a breakout of the lower Cloud boundary. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1870 is expected, followed by a decline to 1805. A signal confirming the decline could be a […]