Market Analysis

The Japanese yen has cancelled devaluation against the US dollar and is strengthening. The current USDJPY quote is 140.69. In a way, the yen is in demand as a safe-haven asset, while the investment world is doubting the stability of the US dollar. However, the fact that the USDJPY pair used to be overbought probably […]

Lower Start for Tesla Shares in Tesla are trading a little lower ahead of the open on Monday. Following a breakout to fresh highs for the year last week, prices have since cooled wit the stock now trading back below the prior 2023 highs of 276.74. The company recently launched a new buyer incentive program […]

Daily Market Outlook, July 10, 2023 Munnelly’s Market Commentary…  Asian equity markets showed a positive start to the week, although gains were limited due to investors digesting softer-than-expected inflation data from China. The Nikkei 225 initially extended last week’s slump but managed to rebound in late trade, ending with a marginal decrease. On the other […]

The most traded currency pair remains in positive territory on Monday. The current quote in EURUSD is 1.0960. Friday’s block of US employment market statistics left the US dollar without support. Investors were confused: it was expected that strong figures in the labour sector would give the Federal Reserve another strong argument in favour of […]

The FTSE Finish Line – July 10 – 2023 Starting The Week In The Green As Morgan Stanley Eyes UK Equities The FYSE is starting the week in the green up 0.5% according to Morgan Stanley, UK equities are currently considered unusually cheap compared to historical trends. The U.S. bank is optimistic about a potential […]

Bailey Notes BOE Flexibility GBP is starting the week under a  bit of pressure following comments from BOE governor Bailey yesterday. Speaking at a conference in France, Bailey noted that the BOE would not be shifting its 2% inflation target though did explain that the bank has some flexibility regarding timing and how quickly it […]

EURUSD, “Euro vs US Dollar” EURUSD quotes are above the 200-day Moving Average on H4, revealing a prevailing uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 4/8 (1.0986) and proceed to the resistance level of 5/8 (1.1074). The scenario can be cancelled by a downward […]

The BTC on Monday is hovering around USD 30,193. The flagship cryptocurrency suffered a weekly loss of 1.9%. This is not the first time that market participants are showing hesitation in making decisions and losing valuable time that could have been used for purchases. There is currently no support from the US stock market, but […]

Daily Technical Trade Setups #SP500 #Nasdaq & #JPM To access today’s actionable analysis click here! Source: Tickmill

Until the NFP release last Friday, the US fundamental backdrop was quite favorable for the dollar and equities. ADP reported around 500,000 new jobs, and the ISM services activity index comfortably exceeded expectations. The dollar index even managed to touch a three-week high at 103.50, while the S&P 500 remained near 4450 points. However, the […]

EURUSD, “Euro vs US Dollar” EURUSD has secured above the upper border of the Wedge reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0905 is expected, followed by a rise to 1.1090. An additional signal confirming the rise will […]

EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the support level of 1.0920. However, the price might rise to 1.1015 and continue the uptrend without testing the […]