Market Analysis

The Japanese yen has somewhat stabilised against the US dollar. The current USDJPY quote is 140.61. On Friday, the Bank of Japan held its regular meeting, following which it kept the interest rate at -0.1% per annum. Thus, the regulator continues to ignore global trends among central banks and sticks to its stimulus plan. In […]

Gold Falls Following Fed Gold prices have turned lower on the back of the Fed meeting yesterday. Despite holding rates steady at this meeting, the meeting showed a clear hawkish skew with the updated dot plot projections showing that the majority of members still forecast further hikes this year. Powell himself noted that July is […]

Daily Market Outlook, June 15, 2023 Munnelly’s Market Commentary…  Asian equity markets traded predominantly higher; however, gains were limited as the market digested the aftermath of the Federal Open Market Committee (FOMC) meeting. Initially, there was a hawkish reaction to the Fed’s dot plot projections, but it was partially reversed during the press conference as […]

USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes have broken the 200-day Moving Average and are below it, indicating the probability of developing a downtrend. The RSI is nearing the overbought area. In such a situation, the 2/8 (0.8911) level is expected to be broken down, with the price then declining to support […]

The BTC returned to 25,476 USD on Friday. Yesterday the flagship cryptocurrency experienced new stress with the price drop. Weekly losses are 3.9%. The market is very thin and nervous. It has been this way since the beginning of the week, and there are no grounds for improvements. Sellers have gone less active, while buyer […]

EUR Rallying EUR is pushing firmly higher on the back of the June ECB meeting yesterday. The single currency spiked in response to a decidedly hawkish meeting from the bank. Yesterday I outlined that the bar was set very high for the ECB in terms of delivering an upside reaction in EUR and it seems […]

TitleGBPJPY week | Potential bearish reversal TypeBullish Bounce Preference: Price is currently at our pivot point of 180.581 which aligns with a 78.6% Fibo retracement. A reverse from here, price could fall to 1st support at 171.87 which is a pullback support level.  Alternative scenario:However, if price breaks above the pivot, it could rally to […]

EURUSD, “Euro vs US Dollar” EURUSD has secured above the upper border of the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0895 is expected, followed by a rise to 1.1035. An additional signal confirming the rise will be a rebound from […]

EURUSD, “Euro vs US Dollar” The currency pair failed to break the level of 1.0800 downwards. The market got support at this level and started developing a new wave of growth to 1.0990. Today a rise to 1.0960 looks possible, followed by a decline to 1.0900. Next, an increase to 1.1000 is expected, from where […]

ECB Up Next Following on from the Fed yesterday, focus today turns to the ECB. In line with previous signalling and recent commentary, the bank is widely expected to press ahead with a further .25% rate hike. As such, the bigger focus will be on the guidance the bank issues and how it signals the […]

Factory Output Falls The latest data out of China overnight has given more cause for concern over the health of the world’s second largest economy. Industrial production was seen rising just 3.5% last month, down sharply from the 5.6% output seen over the prior month. This marks the slowest level of factory output since February […]

American stock index S&P 500 has closely approached the broken uptrend; therefore, it might potentially undergo correction soon. The asset’s price is likely to drop and target the level of 4195. So, let’s observe what might happen. Bitcoin has been moving along the supporting level of 25200 for many days in a row, trying to […]