Market Analysis

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 […]

Bearish Signal The Tickmill Daily Sentiment analysis has given a bearish signal in Silver which makes it an instrument worth watching this week. In 80% of the last 10 occurrences, price has moved lower with 9 days.  Silver prices have been under steady pressure over recent months, correcting lower from the April highs. A resurgence […]

PPI Plummets Expectations for a large new stimulus package in China have grown further overnight on the back of the latest data. China CPI was seen at 0% last month, down from the prior and expected 0.2% reading. Additionally, PPI was seen plunging 5.4% on the month, below the -4.6% seen last time and the […]

Cuts Supporting Oil Prices Crude oil prices are rising into the end of the week with crude futures once again testing the 72.61 level. Fresh production cuts from Saudi Arabia and Russia at the start of the week have started to filter into bullish sentiment in the market. With cuts from the two producers totalling […]

EURUSD Range Persists EURUSD continues to hold in very choppy, tightly congested formation ahead of the upcoming headline US data today. The market has been tightly wound recently with some pointing to huge looming option expiries around the $30 billion mark which are keeping price constrained. A number of strikes are set to roll off […]

Gold Holding Gold prices are holding steady ahead of the US jobs reports later today. On the back of solid US data yesterday, US yields have turned higher. Gold bulls will be wary of these conditions heading not the headline data today. Despite continued calls for a US recession from some players, US data remains […]

Daily Market Outlook, July 07, 2023 Munnelly’s Market Commentary…  Asian equity markets lower as global markets experienced selling pressure driven by declines on Wall Street. The Nikkei 225  opened with a slump following disappointing Household Spending data, although it later recovered some of its losses. The Hang Seng and Shanghai Comp. were also in negative […]