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.
Bitcoin has tested the psychological level of 30000. The asset has closely approached the key resistance level of 31000. Bitcoin might potentially rebound and drop. However, considering the recent abrupt price growth, the asset might also jump and break the level of 30000 instead. It would be interesting to follow the price movements next to […]
The British pound sterling is saving strength for daily movements against the US dollar. The current GBPUSD quote is 1.2760. Today the key event is the meeting of the Bank of England. The interest rate is expected to rise by 25 basis points to 4.75% per annum. Furthermore, financial markets see the probability of an […]
TitleGBPUSD H1 | React off 1st resistance TypeBullish Breakout Preference: Price is approaching our pivot point of 1.27699 which is an overlap resistance level. If it reverse from here, price could fall to 1st support level at 1.26979 which is an overlap support that aligns with 38.2% FIbo retracement Alternative scenario: However. if price breaks […]
TitleUSDCAD H4 | Bounce off from Fibo confluence TypeBullish Bounce Preference:Price is falling towards our pivot point of 1.31165 which aligns with -27.2% Fibo expansion and 161.8% Fibo extension, indicating the Fibo confluence zone. A reverse from here, price could rally to 1st resistance at 1.31762 which is a pullback resistance level. Alternative scenario:However, […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are under the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 2/8 (0.8911) is expected, followed by a decline to the support at 1/8 (0.8850). The scenario can […]
The market’s most traded currency pair has increased noticeably overnight. The current EURUSD quote is 1.0980. The US dollar dropped after the speech delivered by the chairman of the Federal Reserve System Jerome Powell. Speaking before policymakers at Capitol Hill, Powell stuck to his previous viewpoint concerning the interest rate and did not exclude that […]
EIA On Watch Crude oil prices are a little softer today ahead of the latest EIA inventories release due later. Last week, the EIA reported a larger-than-forecast inventories surplus, reflecting weaker demand. However, looking at today’s expectations, the market is forecasting a 0.3 million barrel surplus, down sharply from the 7.9 million barrel surplus reported […]
TitleEURUSD H4 | potential reverse from resistance TypeBearish Reversal Preference: Price is approaching our pivot point of 1.09988, which represents an overlap resistance. This level aligns with the 78.6% Fibonacci retracement and 61.8% projection, indicating a Fibonacci confluence. If there is a reversal from this level, the price could potentially decline towards our first support […]
EURUSD, “Euro vs US Dollar” EURUSD is rising by the bullish Flag pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. The Tenkan-Sen line is expected to be tested at 1.0945, followed by a rise to 1.1065. An additional signal confirming the rise will be a rebound from the lower border […]
EURUSD, “Euro vs US Dollar” The currency pair has escaped a consolidation range upwards, completing a structure of growth to 1.0994. A link of corrective decline to 1.0950 is not excluded today, followed by a rise to 1.1000. After the price reaches this level, a wave of decline to 1.0890 might start. GBPUSD, “Great Britain […]
USD Weakens on Powell Comments EURUSD is pushing higher today against a backdrop of USD weakness following Powell’s semi-annual testimony at Congress yesterday. Speaking at the Senate Banking Committee, Powell offered little in the way of new information, a disappointment for USD bulls who had been hoping for some fresh hawkish commentary from the Fed […]
Daily Market Outlook, June 22, 2023 Munnelly’s Market Commentary… Asian equity markets traded mostly lower as market participants reacted to the tech-driven declines on Wall Street. Investors were also digesting a series of statements from the Federal Reserve and the release of hot UK CPI data, which added to the cautious sentiment. Additionally, risk appetite […]