Market Analysis

TitleAUDJPY H4 | Potential bearish breakout? TypeBearish Breakout Preference: Price is falling towards the pivot point of 93.036 which is an overlap support and could potentially break through this level; we could see momentum carry price down to its 1st support at 92.297 which is a major swing-low support. Wait for downside confirmation to provide […]

TitleGBPJPY H4 | Potential Bullish Bounce off 23.6% Fibo? TypeBullish Bounce Preference:Price has reversed from the previous bullish run, and could become bearish in the long run. If price reaches our pivot point at 183.9, we could see a bullish bounce off the 23.6% fibo retracement level. Price could head towards the 1st resistance level […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.3510. Next, the price could rebound from the support and continue the uptrend. However, the quotes might rise to 1.3610 without […]

Brent Crude oil quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is testing the resistance line. In this situation, the quotes are expected to rise above 3/8 (84.38), later reaching the resistance level of 4/8 (87.50). The scenario can be cancelled by a downward breakout […]

Retracement in US equities gains traction, but it appears to be proceeding in an orderly manner: the S&P 500 has been declining for six consecutive sessions, but it is not losing more than 1% per day. The bearish momentum increased on Thursday, with losses reaching nearly 0.8%. Since the beginning of August, the index has […]

The yield on long-term US bonds has risen to the highest level of the year, which is also the highest level since the end of 2007: Clearly, investors believe that the expected Fed monetary policy stance is not sufficiently restrictive and that inflation will remain elevated for a longer period, along with high interest rates. […]

EURUSD, “Euro vs US Dollar” EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0930 is expected, followed by a decline to 1.0725. An additional signal confirming the decline will be a rebound from […]

EURUSD, “Euro vs US Dollar” EURUSD performed a wave of decline to 1.0855 and a correction to 1.0893. Today the market has started developing a new structure of decline to 1.0833. After the price reaches this level, a link of correction to 1.0944 is not excluded, followed by a decline to 1.0750. This is a […]

TitleEURJPY H4 | Potential Bullish Bounce? TypeBullish Bounce Preference: Price is approaching our pivot point at 157.99, which is a pullback support level. We can expect price to bounce off the pivot point and head to the 1st resistance level at 159.21. Alternative scenario: If price breaks below the pivot point, then price would potentially […]

Daily Market Outlook, August 18, 2023 Munnelly’s Market Commentary…  Asian equity markets traded on the back foot, following the downward trajectory observed in both US and European markets the previous day. Asian stocks, as measured by an index, have now experienced a continuous decline for six consecutive sessions. This trend is shaping up to result […]

TitleGBPJPY H4 | Potential Bearish reversal? TypeBearish Reversal Preference:Price has reacted off our pivot point at 186.3, which is aligned with a swing high resistance way back in December 2015. This could be a potential bearish reversal, and price could fall to our 1st support level at 185.25. Alternative scenario:If price breaks above the pivot, […]

USDJPY Rally Continues USDJPY broke out to new highs for the year yesterday as the rally in the pair off the July lows continues to gather pace.  USD has seen strong demand over recent weeks against a backdrop of shifting Fed expectations. While the market had initially scaled back tightening expectations for the remainder of […]