Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitlePotential Bearish Reversal off 50% Fibonacci Retracement TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.65386 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64920 which is a pullback support […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be the resistance at 1.0830. However, the price could drop to 1.0715 and extend the downtrend without testing the resistance. […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has received support at the 1.0767 level and continues correcting. Today the correction could extend to 1.0791. Once it is over, a decline wave to 1.0700 is expected to begin. And if this level also breaks, the potential for a wave to 1.0666 might open. This is […]
TitleEURUSD H1 | Bearish reversal TypeBullish Breakout Preference:Price is rising toward the pivot point of 1.0790, a pullback resistance that aligns with the 38.2. A reverse from this level could lead the price to fall to 1st support at 1.2724, a swing low support level Alternative scenario:If the price breaks above the pivot, it could […]
TitleGBPJPY H4 | Potential bullish breakout TypeBullish Breakout Preference: The price could continue to rise and break out of pivot at 187.493, the overlap resistance. From there it could rise to the 1st resistance at 188.317, the multi-swing high resistance that aligns with the 127.2% Fibonacci retracement. Alternative scenario:It might potentially reverse to the 1st […]
Dollar Correction The US Dollar has softened into the middle of the week following a breakout move in the DXY which saw the index trading up to its highest levels since November earlier this week. Speaking yesterday, Fed’s Mester signalled that the Fed will likely feel comfortable to begin cutting rates later this year if […]
Daily Market Outlook, February 7, 2024 Munnelly’s Market Minute…“FedSpeakers On Deck, With A Scant Data Docket” Asian stocks were mostly positive due to a decline in global yields and further Chinese support efforts. Nikkei 225 was indecisive due to a slew of earnings and with the BoJ reportedly on track for a policy shift by […]
The Japanese yen, paired with the US dollar, is gradually reaching equilibrium. The current USDJPY exchange rate stands at 147.97. At the beginning of the week, the yen hit a two-month low against the USD after the US dollar began to rally. This development occurred as investors reassessed prospects for the Federal Reserve’s future actions. […]
The primary currency pair on Wednesday appears more assured compared to yesterday. The current EURUSD exchange rate stands at 1.0763. While the US dollar continues to hover near its three-month highs, its aggressive stance has softened. With a nearly 1.5% decrease over two days, it is time to pause. Declining yields on US treasury bonds […]
TitleUS30 H4 | Rising to Fibo level TypeBullish Breakout Preference:The price is rising to the pivot at 38622.79, the swing-high resistance. It could potentially break out of the pivot and rise to 1st resistance at 38944.28, the 127% Fibonacci extension level. Alternative scenario:Price might reverse and fall to the 1st support at 38121.57, the overlap […]
TitleEURJPY H4 | Potential bearish breakout TypeBearish Breakout Preference:EURJPY could reverse and break out of pivot at 158.468, the swing-low support. From there it might drop further to the 1st support at 157.254, the swing-low support that aligns with the 38.2% Fibonacci retracement. Alternative scenario:The price could rise and break out of the 1st resistance […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a correction wave to the 1.0745 level. By now, a consolidation range has formed around this level. Today the market has escaped this range upwards, suggesting a further correction to 1.0770. Once it is over, the decline wave could extend to 1.0700, from where the […]