Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Gold Under Pressure The rally in the US Dollar on the back of yesterday’s inflation report has caused widespread impact across markets. Gold prices have come under heavy selling pressure with futures seen breaking down to fresh lows for the year. Given the pushback we’ve heard from the Fed, this latest hot inflation reading is […]
CPI Holds Steady The FTSE is seeing strong demand today after the latest UK inflation figures released this morning were cheered by investors. Annualised headline CPI was seen holding steady at 4% last month, a touch softer than the expected 4.1%. Similarly, core inflation was seen holding steady at 5.1%, despite expectations for a lift […]
The primary currency pair remains under pressure on Wednesday. The current EURUSD exchange rate stands at 1.0713. Data on the Consumer Price Index in the US for January, released yesterday, noticeably unsettled investors. Inflation decreased to 3.1% on an annual basis compared to 3.4%. While this is positive, the forecast had expected a decrease of […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has reached the estimated target of a decline wave at 1.0700. The structure of the last decline target implies a correction link to 1.0734 that might form today. Practically, a consolidation range might form between these two levels. With an escape from the range downwards, a decline […]
TitleUS30 H4 | Bearish breakout TypeBearish Breakout Preference:The price could fall to the pivot at 38120.6, the overlap support, from there it might reverse to the 1st support at 37769.8, the overlap support that aligns with 61.8% Fibonacci retracement. Alternative scenario:It might reverse to pivot and bounce off the pivot. The price could rise to […]
TitleEURJPY H4 | Potential bullish bounce TypeBullish Bounce Preference:The price could reverse to pivot at 160.242, the pullback support, from there price could bounce off pivot and rise to 1st resistance at 161.761, the swing-high resistance. Alternative scenario:Price could potentially break out of the pivot and fall to 1st support at 158.963, the swing-low support. […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has found a foothold under the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2630 is expected, followed by a decline to 1.2480. An additional signal confirming […]
The Japanese yen, paired with the US dollar, has significantly declined. The current USDJPY exchange rate stands at 150.50. What led to this development? The US released surprisingly robust inflation figures for January. This diminished the likelihood of the Federal Reserve’s early interest rate cut this year, bolstering the USD. Consequently, the dollar exerted pressure […]
TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.64815 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64155 which is an overlap support level. Alternative scenario: If […]
Daily Market Outlook, February 14, 2024 Munnelly’s Market Minute…“US CPI Upside Surprise Leads To Selloff” Most Asian equity indices are trading in negative territory, reflecting the downturn observed in the United States.The significant change in Federal Reserve expectations, first triggered by a strong U.S. jobs report and then reinforced by Tuesday’s unexpected increase in inflation, […]
TitleGBPJPY H4 | Bearish reversal TypeBearish Reversal Preference:The price could rise to the pivot at 188.776, the multi-swing high resistance, from the pivot it could potentially reverse to the 1st support at 187.505, the overlap support. Alternative scenario: The price could rise and break out of pivot and continue rising to 1st resistance at 189.447, […]
Wages Rise, Unemployment Falls The British Pound is rallying today on the back of the latest economic data out of the UK, released this morning. The UK unemployment rate was seen falling back to 3.8% in the three months to December 2023. This marks a decline from the prior reading of 4.2% and was below […]