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 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 […]
The British pound sterling against the US dollar continues to follow a downward trend. The current GBPUSD exchange rate stands at 1.2080. The rapid rise in US treasury bond yields is bolstering the USD, affecting riskier assets and strengthening the USD against major currencies. According to FedWatch, investors are expecting a Fed interest rate hike […]
TitleUSDCAD H4 | Falling to pullback support? TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.3691 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.37834 which is a level that aligns with the 127.2% Fibonacci extension […]
EURUSD, “Euro vs US Dollar” EURUSD has made a declining movement to 1.0447. At the moment, the market is forming a consolidation range around 1.0465. With an escape from the range upwards, a link of correction to 1.0500 is not excluded. With a downward breakout of the range, the potential for a wave to 1.0408 […]
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 rebounded from the support line. In this situation, the quotes are expected to rise above 7/8 (149.21), subsequently reaching the resistance line at +1/8 (150.78). The scenario can be cancelled […]
TitleAUDUSD H4 | Bearish reaction off 23.6% Fibo resistancve TypeBearish Reversal Preference: Price could rise towards the pivot point of 0.63299 which is a pullback 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 0.62229 which is […]
The dollar entered a correction phase on Wednesday as market participants took advantage of the fact that major currencies paired with the dollar had been depreciating at a fairly high pace over the past few days and had either reached or briefly breached key levels where support was widely expected. For example, these levels were […]