Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleEURUSD H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.0947, an overlap resistance level. A drop from this level could lead the price to fall to 1st support at 1.0915, a pullback support. Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 1.0962, above […]
June Cut in Focus Yesterday’s ECB meeting was a pivotal moment for FX traders with the bank essentially giving the nod for a June rate cut. Monetary policy was held unchanged yesterday, as expected. However, Lagarde noted that the ECB continued to make good progress towards achieving its inflation target but wanted more confirmation that […]
Daily Market Outlook, March 8, 2024 Munnelly’s Macro Minute… “Dovish Take On Fed & ECB Supports Risk Sentiment ” This morning, Asian equity markets are experiencing an increase after significant gains in US markets yesterday, driven by comments from US Federal Reserve Chair Powell during his testimony to Congress. Powell suggested that the Fed is […]
Last Monday, the price of Bitcoin reached its maximum point, rebounded, dropped, and formed a bearish engulfing. Currently, the asset’s price is in the middle of engulfing, and this didn’t come as a surprise. Hence, Bitcoin might potentially undergo a stronger correction soon. So, let’s observe what is going to happen next. Should the price […]
ETH Pauses… For Now Similar to the price action we’re seeing in Bitcoin, Ethereum is paused for now at the highs of the recent rally. ETH futures have seen a more than 75% rally off the YTD lows, with price trading up to its highest level since December 2021, eclipsing the 202 highs. Given the […]
ECB Up Next The ECB takes centre stage today as the bank meets for its March rate setting meeting. No change in monetary policy is expected today, however, traders will be carefully scrutinising the details of today’s meeting for clues as to when a first-rate cut can be expected. Currently, the market is pegging a […]
Gold Breaking Out Gold prices have traded up to fresh record highs this week as the US Dollar continues to trail off ahead of tomorrow’s keenly awaited NFP data. Yesterday, comments from Fed chair Powell did little to inspire USD buying with Powell simply reaffirming the message that rate cuts are still very much on […]
The Australian dollar rose against the US dollar on Thursday. The current AUDUSD quote stands at 0.6583. Thus, the Aussie is back to a two-week high. This occurred as positions in the US dollar weakened significantly amid a decline in US Treasury bond yields. Capital markets anticipate the Federal Reserve easing monetary policy later this […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the overbought area. The RSI is testing the support line. In this situation, a breakout of the 8/8 (0.8789) level is expected, followed by a decline to the support at 6/8 (0.8667). The scenario could be cancelled by rising above the resistance at +1/8 (0.8850). […]
The US Dollar finds itself ensnared in a tumultuous market landscape, grappling with conflicting data and wavering projections on Federal Reserve policy. As traders brace for the semi-annual testimony from US Federal Reserve Chairman Jerome Powell at Capitol Hill, the greenback suffers a four-day losing streak, besieged by a confluence of events poised to shape […]
Daily Market Outlook, March 6, 2024 Munnelly’s Macro Minute… “UK Budget & Powell Testimony Main Macro Drivers Today” Asian equity markets exhibited a mixed performance ahead of Fed Chair Powell’s congressional testimony. On Wednesday, a news conference featuring prominent Chinese officials aims to unveil the government’s strategies to stimulate consumption. Pan Gongsheng, the central bank […]
The Japanese yen is actively strengthening against the US dollar. The current USDJPY quote stands at 148.57. The yen is currently at a one-month high, made possible by the weakening of the US dollar. The market believes that, due to deteriorating economic conditions, the Federal Reserve may decide to cut interest rates this year. These […]