Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
Oil Under Pressure Oil prices have pulled back sharply this week with crude futures dropping around 5% from last week’s YTD highs. The driver behind the current weakness has been an uptick in concerns over the health of the Chinese economy. A string of recent data weakness out of China has underscored economic concerns while […]
AUD Falls Following RBA Minutes The Australian Dollar has come under pressure today on the back of the release of the latest set of RBA meeting minutes. The minutes revealed that while the bank considered hiking rates again this month, ultimately it decided to hold rates steady, citing the “acute financial challenges” facing some domestic […]
USD Rally Weighing on Silver Silver prices remain heavy this week with the market still sat on support at the 22.3205 level, underpinned by the bull channel lows also. The recent uptick in USD has weighed heavily on silver, seeing futures prices dropping around 11% from the July highs. The majority of this move has […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3525. Next, the price might break the resistance and continue the uptrend. However, the quotes could pull back to 1.3400 before rising. […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 3/8 (0.6530) is expected, followed by a rebound from it and a decrease to the support at 1/8 (0.6408). The […]
TitleNZDUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price could rise again towards the pivot point of 0.59911 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 0.59442 which is a swing-low support. […]
Daily Market Outlook, August 15, 2023 Munnelly’s Market Commentary… Asian equity markets traded with mixed outcomes as market participants processed key releases, including disappointing Chinese activity data and the People’s Bank of China’s (PBoC) unexpected reductions in its 7-day Reverse Repo and 1-year Medium-term Lending Facility (MLF) rates. The Nikkei 225 index in Japan experienced […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF has rebounded from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.8755 is expected, followed by a rise to 0.8895. An additional signal confirming the rise will be a rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline at 1.0875. A correction to 1.0939 is not excluded today. Next, a new wave of decline to 1.0816 could start, from where the trend might continue to 1.0750. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD completed a structure of a wave of […]
Chinese yuan extends depreciation, indicating growing concerns about China growth outlook and garnering more attention in global markets. USDCNY has exceeded the 7.28 mark: Data on industrial production, retail sales, fixed asset investment, and unemployment released today came in significantly weaker than expected: The People’s Bank of China also announced today that it is reducing […]
TitleAUDUSD H4 | Approaching 38.2% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.65172 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64678 which is a swing-low […]
The British pound sterling is consolidating against the US dollar on Tuesday. The current GBPUSD exchange rate stands at 1.2690. Today the UK will release employment market statistics. Statistical data on average earnings in June are of most interest. A month earlier, the indicator increased by 4.0% over the three months ending in May. There […]