Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Fresh Inventories Deficit Seen Crude prices continue to hold within last week’s range as the latest EIA inventories yesterday failed to provide the catalyst for a fresh directional move. The EIA reported a 0.7 million barrel drawdown in US crude stocks, this was lighter than the 2 million barrel deficit the market was looking for […]
The FTSE Finish Line – July 20 – 2023 FTSE Extends Yesterday’s Gains, Weaker GBP & Miners Shine On Thursday, the UK’s FTSE 100 index extended yesterday’s gains. The weaker pound contributed to the gains in the FTSE 100, which has a high concentration of exporters. The pound weakened after data showed domestic inflation easing […]
EURUSD, “Euro vs US Dollar” EURUSD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.1165 is expected, followed by a rise to 1.1375. An additional signal confirming the rise will be a […]
EURUSD, “Euro vs US Dollar” EURUSD has completed the first wave of decline to 1.1174. Today it might correct to 1.1232 with a test from below. After the correction is over, a new wave of decline to 1.1150 could start. This is a local target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed […]
TitleEURJPY H4 | Bullish bounce off 23.6% fibo? TypeBullish Bounce Preference:Price is within our pivot point and the 23.6% fibo retracement range, at 156.10. Price could potentially make a bullish bounce off this 23.6% fibo retracement, to the 1st resistance at 157.14. Price would then start to reverse from the 1st resistance due to the […]
Daily Market Outlook, July 20, 2023 Munnelly’s Market Commentary… Asian equity markets had a mixed trading session, reflecting the uncertain performance in the US markets as investors processed various data releases, corporate earnings results from tech darlings Netflix and Tesla, the latter saw a decline in margins as it continues to boost discounts, while Netflix’s […]
Daily Market Outlook, July 19, 2023 Munnelly’s Market Commentary… Asian equity markets had a mixed performance as ongoing economic concerns in China partially offset positive sentiment from strong bank earnings in the US and dovish commentary from the European Central Bank. The Nikkei 225 outperformed, rising by 0.8% following comments from Bank of Japan Governor […]
The FTSE Finish Line – July 19 – 2023 Inflation Flops FTSE Flies FTSE 100 index is up 2.1% as UK housebuilders and property firms experienced significant gains as inflation slowed sharply in the country. The UK housebuilders’ index surged by 6.4%, on track for its best day since November 2008. The housing index rose […]
The BTC exchange rate reached 30,082 USD on Wednesday. Last night, the flagship cryptocurrency experienced a remarkable decline and tested support at 29,800 USD. This is due, firstly, to the lack of new buying drivers. Secondly, the time factor is working against buyers: the longer the pause in purchases persists, the less positive momentum there […]
The major currency pair has moved lower and is consolidating. The current EURUSD quote is 1.1230. EURUSD simply got rid of some of its overbought status after renewing the yearly high of 1.1280. From a market perspective, this does not change much: the US dollar remains weak due to the anticipation of decisions by the […]
TitleAUDUSD H4 | Bounce off Support level? TypeBullish Bounce Preference: Price is falling to our pivot point of 0.67173 which is a pullback support level that aligns with 61.8% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 0.67907 which is a pullback resistance level Alternative scenario:However, if price breaks […]
TitleXAUUSD H4 | Bearish reversal TypeBearish Reversal Preference:If price breaks above the pivot point, it could hit the 1st resistance at 2004.088. Alternative scenario:However, if price breaks above the pivot, it could rally to 1st resistance at 1970. To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access […]