Market Analysis

TitleUSDCAD H4 | Potential bearish reversal TypeBearish Reversal Preference:Price is rising towards the pivot point of 1.3283 and could potentially reverse from here; we could see momentum carry price down to its 1st support of 1.32174. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 1.33325.  To discuss this […]

TitleUSDCHF H4 | Heading into resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.90124 and could potentially reverse from here; we could see momentum carry price down to its 1st support of 0.89456. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.90437. To discuss this […]

Daily Market Outlook, July 03, 2023 Munnelly’s Market Commentary…  Asian equity markets started the new trading month on a positive note, drawing momentum from a rally on Wall Street. Market participants also digested key data releases, including an improved Tankan survey in Japan and better-than-expected Chinese Caixin Manufacturing PMI. The Nikkei 225 index rose by […]

The BTC exchange rate rose to 30,704 USD on Monday, with the flagship cryptocurrency gaining 1.4% during the week. Overall, last week was a relatively calm one for BTC. From a fundamental perspective, the crypto sector has strong support from large funds. Previously, news emerged that Fidelity had filed another application with the SEC to […]

The main currency pair looks stable on Monday. The current quote in EURUSD is 1.0910. According to previously released data, the Core Personal Consumption Expenditure (Core PCE) price index in the US rose 0.3% m/m in June against a forecast increase of 0.2% and a previous rise of 0.4%. On a year-on-year basis, the increase […]

Deliveries Soar in Q2 Shares in Tesla are trading higher ahead of the open today. The firm announced record new deliveries in Q2, well above Wall Street estimates. Elon Musk’s flagship company reported Q2 deliveries of 466k vehicles, around 5% higher than the 445k units the market was looking for. At this level, deliveries recorded […]

Manufacturing PMI on Watch The US Dollar is back in focus today with the latest US ISM manufacturing reading due later. Recent strength in US data has been feeding into market expectations of fresh tightening from the Fed. Pricing for a hike this month has jumped from around the 50% mark a few weeks ago […]

EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of growth to 1.1001. The market has formed a consolidation range under this level and today is being pushed down to its lower border. With an escape from the range downwards, the potential for yet another wave of decline to 1.0570 could open. After the […]

EURUSD, “Euro vs US Dollar” EURUSD on H4 is above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the price is expected to break the level of 3/8 (1.0925) and rise to the resistance level of 5/8 (1.1074). The scenario can be cancelled […]

TitleGBPUSD H4 | Potential bounce off support level TypeBullish Bounce Preference: Price is falling toward our pivot point of 1.25925 which is an overlap support level that aligns with a 50% Fibo retracement. A reverse from here, price could push up to 1st resistance level at 1.27071 Alternative scenario: However, if price breaks above the […]

Swiss Inflation Cools The Swiss Franc has weakened today on the back of the latest Swiss inflation numbers. CPI for last month was seen rising just 0.1%, down from 0.3% prior and below the 0.2% the market was looking for. On the back of the SNB hiking rates last month, the data serves as further […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.2685 is expected, followed by a decline to 1.2440. An additional signal confirming the decline will be a rebound […]