Market Analysis

The British pound sterling, paired with the US dollar, continues to decline. The current GBPUSD exchange rate stands at 1.2140. Today’s pound levels represent new six-month lows. Investors believe that the Bank of England has concluded its aggressive cycle of monetary policy and is not expected to raise interest rates in the near future. This […]

The major currency pair has slipped even lower by Thursday. The current EURUSD exchange rate stands at 1.0495. This places the US dollar at a ten-month high. The primary reason behind this trend is the strong market belief in the Federal Reserve’s prolonged period of elevated interest rates. In this context, the yield on the […]

On Wednesday, the Treasury bond market was hit by a new wave of sell-offs. The yield on 10-year bonds surged by 11 basis points in a short span of time, setting a new local high: The sell-off was apparently triggered by the durable goods orders report. The market had expected a 0.2% decline for the […]

Energy Prices Stoke Concerns UK shares have come under heavy selling pressure again today with the FTSE falling around more than 1% over early European trading on Thursday. The index is now down almost 3% from the September highs and looks vulnerable to further losses through the end of the week. The driver behind the […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.2145 is expected, followed by a decline to 1.2015. An additional signal confirming the decline will be a rebound […]

EURUSD, “Euro vs US Dollar” EURUSD has completed a decline wave, reaching 1.0487. Today the market is forming a consolidation range above this level. A downward breakout will open the potential for a movement to 1.0434. An upward breakout could lead to a corrective link to 1.0545 (a test from below), followed by a decline […]

Daily Market Outlook, September 28, 2023 Munnelly’s Market Commentary…  Asian equity markets with a mixed tone as traders evaluated the performance in the US leading into the end of the month and quarter. Global yields and oil prices saw further upside, impacting market sentiment. The Nikkei 225 underperformed, slipping below the 32k handle and facing […]

Rising Yields Turn Stocks Lower Following the correction lower from YTD highs, the Nasdaq continues to hug support at the 14544.9 level today. The uptick in USD and US yields over the last two weeks has been a major downside catalyst for risk sentiment, with tech stocks falling sharply. The Fed is now widely expected […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has reached the oversold area. In this situation, the price is expected to test the 8/8 (0.9277) level, rebound from it, and drop to the support at 6/8 (0.9155). The scenario can be […]

TitleEURUSD Day, Bouncing off support? TypeBullish Bounce Preference:Price is currently at our pivot point of 1.04737, which serves as an overlap support level. that aligns with the 127.2 Fibo extension. A reversal from this point could lead the price rise to the 1st resistance at 1.06425, an overlap resistance. Alternative scenario:However, if the price breaks […]

The price of natural gas has closely approached the psychological level of 3.00 USD/MMBtu. At that, the asset’s price is trying to test this level for the third time in a row. As the cold season approaches, the demand for natural gas will gradually increase since it plays a crucial role in heating residential and […]

TitleSPX500USD H4 | Bearish reaction off 38.2% fibo? TypeBearish Reversal Preference: Price is rising towards our pivot point at 4306.5, aligning with the 38.2% fibo retracement and 78.6% fibo projection. We could expect price to fall from our pivot point, to the 1st support at 4259.5, which is a swing low support level. Alternative scenario:If […]