Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The two-week consolidation period of gold price around $1950 has ended with a breakdown below the lower bound of the main ascending channel: The risk is increasing that sellers will temporarily seize the initiative, as buyers have lost their main stronghold in the form of the ascending corridor that started back in October 2022. From […]
The Japanese yen paired with the US dollar remains in a devaluation zone. The current USDJPY quote is 141.20. The difference in interest rates between the Bank of Japan and the US Federal Reserve System, although not increasing as rapidly as before, still leaves the JPY vulnerable. Most economists surveyed by Reuters believe that the […]
TitleCHFJPY H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price could approach the pivot point of 155.484 and potentially reverse from here; we could see momentum carry price up to its 1st resistance of 156.276. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 155.083. To discuss this […]
TitleGBPNZD H4 | Bullish reversal from 38.2% Fibo TypeBullish Bounce Preference:Price is falling towards the pivot point of 2.03679 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 2.05217. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 2.02258. To […]
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. However, the RSI is nearing the overbought area. As a result, in these circumstances a test of 7/8 (142.18) is expected, followed by a rebound from this level and a decline to the […]
The major currency pair is consolidating on Thursday while awaiting news. The current EURUSD quote is 1.0810. These days are rich in news and emotions, but the market is coping well with this load so far. The US Federal Reserve System decided the day before to keep the interest rate unchanged at 5.25% per annum. […]
TitleUSDCHF H4 | React off 61.8% TypeBearish Reversal Preference: Price is approaching our pivot point of 0.90558 which aligns with a 61.8% Fibonacci retracement. A reverse from here, price could fall to 1st support at 0.89899 which is a pullback support level Alternative scenario: However, if it breaks above the pivot, it could rally to […]
TitleXAUUSD H4 | Potential bounce off support TypeBullish Bounce Preference: Price is currently at our pivot point of 1933.393 which is an overlap support level. A reverse from here, price could rally to 1st resistance at 1944.805 which aligns with a 50% Fibonacci retracement, Alternative scenario:However, if price breaks below the pivot, it could fall […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is testing the Tenkan-Sen line of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2605 is expected, followed by a rise to 1.2845. An additional signal confirming the rise will be a rebound from […]
EURUSD, “Euro vs US Dollar” The currency pair has extended a consolidation range upwards to 1.0862. The market has started an abrupt decline to 1.0782 on the news. This is the first target. After the quotes reach this level, a correction to 1.0822 might follow. Next, a wave of decline to 1.0730 might begin. GBPUSD, […]
Daily Market Outlook, June 14, 2023 Munnelly’s Market Commentary… Asian equity markets traded with a somewhat mixed performance as the region displayed caution ahead of the Federal Open Market Committee (FOMC) policy announcement. The Nikkei 225 index extended its gains by 1.5%, benefiting from recent currency movements and widespread anticipation that the Bank of Japan […]
Tesla Rally Continues Shares in Tesla are trading higher pre-market as the stock’s bull run continues. The recovery off the April lows has seen Tesla shares advancing more than 70%, now up over 155% on the year so far. Shifting Fed expectations have been a huge driver behind the aggressive move higher in tech stocks […]