Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Daily Market Outlook, November 29, 2023 Munnelly’s Market Commentary… Asia – Stocks in the Asia-Pacific region displayed a mixed performance in the wake of volatile trading on Wall Street. The US dollar weakened, and treasury bonds gained ground following dovish comments from the Federal Reserve. Investors also considered the Reserve Bank of New Zealand’s decision […]
The Japanese yen continues rising against the US dollar. The current USDJPY exchange rate stands at 147.08. Two factors influence the yen’s exchange rate: Japan’s inflation and the behaviour of the US dollar. The price situation is somewhat balanced: while the CPI has risen, it remains unstable. The USD circumstances are rather productive for the […]
The Australian dollar, paired with the US dollar, continues to rise. The current AUDUSD exchange rate stands at 0.6650. Inflation is slowing in Australia, supporting the scenario of the Reserve Bank of Australia refraining from further interest rate hikes. Market expectations for a rate hike have decreased from 70% to 50%. Today’s statistics show a […]
NZD Spikes Higher The New Zealand Dollar was among the big winners yesterday as USD reversed lower. NZDUSD traded to its highest level since August earlier today before selling kicked in to fuel a correction lower. Overnight, the RBNZ was seen holding rates unchanged at 5.5%, in line with expectations. However, the bank warned that […]
DXY Plunges The US Dollar was seen plunging to its lowest level since early August yesterday as traders digested the latest Fed commentary. Fed’s Waller commented yesterday that he was encouraged by the slowing of the US economy and believed that Fed monetary policy was in the right place to bring inflation down to target. […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the resistance level. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0965 is expected, followed by a rise to 1.1055. An additional signal confirming the rise will be a rebound from the lower boundary of the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a consolidation range around 1.0944 and, breaking it upwards, is forming a growth structure to 1.1020. After the price reaches this level, it might correct to 1.0944 (a test from above), subsequently climbing to 1.1033. It is worth noting that any rise is seen as a possible […]
The statements made by the Fed officials on Tuesday prompted a mild sell-off of the dollar. At the beginning of Wednesday, the US Dollar Index (DXY) tested the 102.50 area, but during the day, it managed to recover from the decline, ending slightly positive. From a technical analysis standpoint, after breaking through the bearish channel, […]
TitleEURJPY H4 Bullish Bounce TypeBullish Bounce Preference:The current price is moving toward the pivot, swing low support at 161.442. Price could bounce off pivot and move to 1st resistance a pullback resistance at 162.903. Alternative scenario:The price may not rise above 161.722 which is the 61.8% fibo retracement level. To discuss this trading idea, head […]
Durable Goods Plunge The US Dollar is starting the day under pressure on Friday as traders await the latest PMI data due later today. Ahead of the Thanksgiving holiday in the US yesterday, October durable goods data was seen contracting deeper-than-forecast on Wednesday. At -5.6%, the reading marked a sharp shift from the prior month’s […]
BTC Shrugs Off Binance News Bitcoin is ending the week at highs with the futures price seeing a more than 6% rally yesterday. The move comes amidst a fresh uptick in expectations that the SEC will soon approve spot BTC ETF applications. Notably, the market has shaken off negative news flow this week around Binance. […]
The activity indices for the services and manufacturing sectors in the Eurozone, published on Thursday, pushed EURUSD back into the range of 1.09-1.0950. The released data exceeded expectations overall, setting the stage for positive expectations in the future: Concerns about stagflation in the EU, highlighted by data in September and October, appear to have subsided. […]