Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The Australian dollar, paired with the US dollar, had declined even further. The current AUDUSD exchange rate stands at 0.6383. Today’s levels for the Aussie are the lowest since November 2022. The Australian dollar is weakening despite the release of relatively strong Q2 GDP data for Australia. The AUD is facing a downturn in the […]
TitleAUDUSD H4 | Bearish reversal off 23.6% Fibo? TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.64005 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 0.63397 which is a […]
Daily Market Outlook, September 6, 2023 Munnelly’s Market Commentary… Asian equity markets started the day with a bearish tone, influenced by the lacklustre performance on Wall Street. Investors there were grappling with concerns over rising yields, a strengthening dollar, and surging oil prices. However, the Nikkei 225 defied the broader trend, managing to breach the […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which implies a downtrend. A test of the Kijun-Sen line at 1.2585 is expected, followed by a decline to 1.2415. An additional signal confirming the decrease might be a rebound […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI, however, has reached the overbought area, indicating a possible correction. As a result, in this situation, a downward breakout of 6/8 (146.87) is expected, followed by a decline to the […]
US Economic Strength Stalling The silver market has come under heavy selling pressure over the last week. Following the recovery across the back half of August, a rebound in USD has weighed heavily on silver prices. Concerns over the US economy have reared their head in recent weeks against a backdrop of several key data […]
BOC on Watch The Bank of Canada meets for its September rate-setting meeting today and while no further policy adjustments are expected, traders will be keeping a close eye on the bank’s forward guidance. Recent data point to a deterioration of the domestic economy, creating room for the BOC top hold rates steady today. Indeed, […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a corrective movement to 1.0707. Today the market is forming a consolidation range above this level. With an escape upwards from the range, a link of growth to 1.0756 is not excluded (with a test from below). Next, a decline to 1.0633 could follow, from where the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target could be the resistance level of 1.0770. However, the price might drop to 1.0690 and continue a downtrend without any correction. […]
TitleGER30 H4 | Bullish bounce off 78.6% fibo? TypeBullish Bounce Preference:Price is in a short term downtrend, and there is potential for a buy entry at the pullback of this downtrend. Our pivot point is at the previous swing low support level, 78.6% fibo retracement and 61.8% fibo projection. We can expect a bullish bounce […]
TitleUSDCAD H4 | Bullish bounce off 38.2% Fibo? TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.36026 which is an overlap support that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.37255 which is a […]
The dollar took a new high – the highest level since the beginning of March 2023, developing an upward trend following breakout of the main bearish corridor: Among the major currencies, the AUD led decline against the dollar, followed by the NZD, the intraday fall in the respective currency pairs exceeded 1%. At the same […]