Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be the 2130.00 level. After the test of the support, the price might rebound from it and develop the uptrend further. However, the quotes could […]
Daily Market Outlook, March 18, 2024 Munnelly’s Macro Minute… “Markets On Central Bank Watch” Asian stock markets are experiencing a mix of trading on Monday, following the generally negative trends from Wall Street on Friday. Traders appear hesitant to make significant moves and are looking ahead to the U.S. central bank’s upcoming monetary policy meeting. […]
The price of the Ripple currency rebounded from the broken downtrend and pulled back to retest it. The local uptrend is at the point of potential pullback. In general, it looks like this currency is undergoing correction right now. Next, it might rebound, rise, and target the level of 0.9000. So, let’s wait and see […]
PPI Drives USD Higher The US Dollar has rebounded into the end of the week following some stronger-than-forecast data yesterday. On the back of hot consumer inflation earlier in the week, PPI yesterday came in above consensus at 0.3% vs 0.2% on core and 0.6% vs 0.3% on headline. Retail sales were a touch below […]
The currency markets have been witnessing notable movements as economic data releases continue to sway investor sentiment. The EUR/USD pair, in particular, has experienced a shift in momentum, driven by surprising figures from the US economy. Concurrently, anticipation builds up ahead of the Bank of Japan’s (BoJ) meeting, with speculation rife regarding its policy stance […]
Daily Market Outlook, March 15, 2024 Munnelly’s Macro Minute… “Markets Attention Shifting To Next Week’s Central Bank Updates” Most Asian stock markets are experiencing a decline in trading on Friday, in response to the negative signals from Wall Street the previous night. This comes as there are growing worries about the US Fed delaying its […]
TitleEURUSD H4 I Bullish Bounce TypeBullish Bounce Preference:Price is falling toward the pivot point of 1.0864, a pullback support that aligns with the 161.8% Fibo extension. A bounce from this level could lead the price to rise to 1st resistance at 1.0902, a pullback resistance Alternative scenario: If price breaks below the pivot, it could […]
Cable Correcting Lower GBPUSD has pulled back below the 1.2832 level this week and is on course to end the week in the red, despite some better data along the way. The uptick in USD has squashed any bullish momentum in the Pound, which had previously broken out to its highest level against the Dollar […]
The primary currency pair decreased on Friday. The current exchange rate for EURUSD stands at 1.0874. The dollar seems poised to end a three-week losing streak, and statistics support it. However, investors are starting to doubt the Fed’s prospects. The February US Producer Price Index (PPI) rose by 0.6%, surpassing the forecasted 0.3% increase. This […]
The Japanese yen, paired with the US dollar, is easily retreating. The current exchange rate for USDJPY is 148.33. The US dollar appears strong again in the global currency market, exerting pressure on the JPY, including other currencies. Japan’s Finance Minister, Shunichi Suzuki, announced this morning that the Japanese economy is no longer deflationary due […]
BTC Pulls Back Following a breakout move to fresh all-time highs earlier this week, Bitcoin is now seeing fresh corrective activity. BTC futures are down around 10% from those highs with the leading crypto coin currently on track to register its only consecutive daily loss since late Feb. This is the second such pullback for […]
TitleGBPJPY H4 | Falling to support level TypeBearish Reversal Preference:GBPJPY is trading close to the pivot at 189.047, the pullback support. The price could potentially break below the pivot and drop towards the 1st support at 188.061, the swing-low support. Alternative scenario:The price could break above the pivot and continue to rise to 1st resistance […]