Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Gold Higher Again on Friday Gold prices are ending the week firmly higher with the safe-haven asset on track to record 4 winning days out of 5 this week. Following heavy selling over the prior fortnight, gold prices bottomed out on Monday and have recovered well throughout the week with prices now back above the […]
TitleGBPUSD H4 I Waiting for a pullback? TypeBearish Reversal Preference: The price is breaking thru our pivot point of 1.2397, wait for a pullback at the pivot point . A reversal from this point could lead the price to drop to the 1st support at 1.2320, a pullback support level. Alternative scenario: However, if the […]
The BTC rate is balancing around 36,422 USD by Friday. Yesterday, the market was buying, but, as it seems, the growing momentum has vanished. There were reasons for this. Meanwhile, technical levels are still relevant: first, the quotes need to establish a foothold near 38,000 USD, and then make an impressive push towards 42,000 USD. […]
The primary currency pair appears neutral on Friday. The current EURUSD exchange rate stands at 1.0832. Despite generally positive statistics earlier in the week, the US data disappointed yesterday, dampening market optimism. It all began with an employment market report. Initial jobless claims increased sharply over the week, reaching 231 thousand, while the indicator stood […]
TitleNZDUSD H4 | Rising toward resistance? TypeBearish Breakout Preference:The price is falling toward our pivot point of 0.5940, which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 0.5997, a pullback resistance. Alternative scenario:However, if the price breaks below the pivot, it […]
Retail Sales Fall Again The British Pound is coming under fresh selling pressure today on the back of the latest UK economic data released this morning. Retail sales were seen falling in negative territory again last month, printing -0.3%, well below the 0.5% the market was looking for. On the back of the heavy fall […]
EURUSD, “Euro vs US Dollar” EURUSD continues developing a consolidation range around 1.0855. The market has just extended the range to 1.0894. Today the range could drop to 1.0813. Next, a link of growth to 1.0855 could follow (with a test from below). Next, a decline to 1.0787 might form. This is a local target. […]
Brent Brent quotes are below the 200-day Moving Average on H4, indicating the predominance of a downtrend. However, the RSI is in the oversold area. Currently, the quotes are expected to rise above the 1/8 (78.12) level, subsequently reaching the resistance level of 8/8 (4375.0). The scenario can be cancelled by a downward breakout of […]
Daily Market Outlook, November 17, 2023 Munnelly’s Market Commentary… Asia – stocks traded mixed, reflecting a choppy performance in the United States as yields declined and market participants digested soft U.S. data releases. The Nikkei 225 exhibited indecision amid a lack of fresh catalysts and balanced comments from Bank of Japan (BoJ) Governor Ueda. Meanwhile, […]
Crude Pushing Lower Oil prices have broken down to fresh four-month lows this week as bearish sentiment continues to build. Crude futures are now down around 25% from YTD highs and look poised for further downside near-term unless we see a major shift in the backdrop. US Crude Inventories Balloon On the one hand, the […]
EURUSD, “Euro vs US Dollar” EURUSD has found a foothold under the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0765 is expected, followed by a rise to 1.0985. An additional signal confirming the rise will be a rebound […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 1970.00. Upon testing the support, the quotes might rebound from this level and continue developing the ascending wave. However, the quotes could rise to […]