Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The job report and Services PMI in the US gave the market a bit of a rollercoaster ride last Friday. The dollar flexed its muscles after the employment statistics revealed the US added 216K jobs in December, beating the expected 170K. However, the November job figure got a downgrade to 173K. Unemployment held steady at […]
Gold Turning Lower on Monday Gold prices have come under heavy selling pressure on Monday with the futures market shedding around 1.3% so far. The decline comes against continued strength in the US Dollar on the back of last week’s stronger-than-forecast US jobs data. The headline NFP was seen printing 216k vs 168k expected, up […]
Saudi Arabia Cuts Selling Price Oil prices came under pressure on Monday as traders digested news of fresh price cuts from de-facto OPEC leader Saudi Arabia. The kingdom slashed the official selling price of its leading product, Arab light crude, it its lowest level in over two years. The price cuts come on the back […]
Daily Market Outlook, January 8, 2024 Munnelly’s Market Minute… In Asia, stocks experienced a gradual decline following a quiet start, influenced by post-data market volatility in the US and the absence of Japanese participants due to Respect for the Aged Day. The markets are eagerly anticipating key inflation data releases later this week. The Hang […]
Futures Weekly Action Areas #ES #NQ #YM To access the weekly action areas for the trading week ahead in the emini futures markets use the links below Emini SP500 https://youtu.be/pusRlqIpGMA?si=x7iWmDF4nfSghPg3 Emini Nasdaq https://youtu.be/iGvvFSEgA3w?si=foEpdBN1mYM53vnp Emini DowJones https://youtu.be/ldGAnULo-CQ?si=RXVDxzSfwga1y_lq Source: Tickmill
BTC Higher on Monday Bitcoin prices are on the rise today as optimism over expected SEC approval of ETF applications continues to build. The SEC currently has until January 10th to decide on the current batch of applications. Names such as BlackRock, Fidelity and Grayscale Investments have submitted applications with news this week that Fidelity […]
TitlePotential Bullish Breakout TypeBullish Breakout Preference:Price is rising towards the pivot point of 1.33726 which is a pullback resistance and could potentially break above this level; we could see momentum carry price up to its 1st resistance at 1.34879 which is a pullback resistance level. Alternative scenario:If price breaks below the pivot point, it could […]
TitleGBPUSD M5 | Falling in the short term? TypeBearish Reversal Preference:Price is rising toward the pivot point at 1.27195 that aligns with the 50% Fibo retracement. A reverse from this point could lead the price to fall to 1st support at 1.2670, a pullback support level. Alternative scenario:If price breaks above the pivot, it might […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price is falling towards the pivot point of 77.445 which is a pullback support and could potentially break under this level; we could see momentum carry price down to its 1st support at 75.37 which is a swing-low support level. Alternative scenario:If price breaks above the pivot point, it could […]
TitleEURUSD M5 | Bullish bounce TypeBullish Bounce Preference:Price is falling toward the pivot point at 1.0925 that aligns with the 161.8% Fibo extension. A bounce from this point, could lead the price to rise to 1st resistance at 1.0946 Alternative scenario: If price breaks below the pivot, it might fall to 1st support level 1.0900 […]
The EUR/USD pair continued its downward trajectory, hovering near 1.0900 on Friday. Despite the annual inflation in the Euro area escalating to 2.9% in December, it fell short of the market’s 3% expectation, somewhat easing pressure on the ECB to act. Attention now turns to the eagerly awaited US December jobs report. Meanwhile, the GBP/USD […]
GBP Holds Firm Against USD GBP has been one of the better performers against USD this week. Despite the broad strength we’ve seen across USD pairs, GBPUSD has remain well supported, even with today’s better-than-forecast US jobs data. One explanation for this is the latest BOE meeting which saw the bank striking a more hawkish […]