Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleUSDCHF H4 | Bouncing off support level? TypeBullish Bounce Preference:Price has just bounced off our pivot point of 0.8981, which serves as an overlap support level. A reversal from this point could lead the price rise to the 1st resistance at 10.9029, a multi-swing high resistance Alternative scenario:However, if the price breaks below the pivot, […]
EURUSD, “Euro vs US Dollar” EURUSD has rebounded from 1.0593, making a movement to 1.0522 within a declining wave. A consolidation range s forming above this level today. The quotes could escape the range downwards, reaching 1.0502. Next, a link of correction to 1.0540 (with a test from below) and a decline to 1.0484 could […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured under the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.2145 is expected, followed by a decline to 1.1945. An additional signal confirming the decline will be a […]
TitleGBPJPY H4 | Bullish reversal off 100% fibo? TypeBullish Bounce Preference: Price is falling towards our pivot point at 181.13, which is an overlap support, aligning with the 100% fibo projection and 50% fibo retracement, which shows that there is fibo confluence here. Price could potentially bounce off our pivot point and rise towards the […]
Bitcoin has tested the key level of 30000 and dropped. The asset’s price is likely to approach the level of 25000, gain the required support, rebound, and rise. Of course, it can also dive even deeper. However, the jump is more likely to happen. Let’s observe which scenario is going to work out. Apple stock […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes and the RSI on H4 are nearing the overbought area. In this situation, a test of 8/8 (150.00) is expected, followed by a rebound from this level and a decline to the support at 6/8 (148.43). The scenario can be cancelled by rising above 8/8 (150.00). In […]
Daily Market Outlook, October 18, 2023 Munnelly’s Market Minute… Asia – Asian stocks displayed a mixed performance, influenced by escalating tensions in the Middle East ahead of US President Biden’s visit to Israel. The cancellation of scheduled meetings with the Palestinian President and Arab countries added to the geopolitical uncertainty. In economic news, China reported […]
TitleUSDCAD H4 | Bullish bounce off overlap support TypeBullish Bounce Preference:Price is falling towards the pivot point of 1.36075 which is an overlap support that aligns with the 100.0% Fibonacci projection level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.36901 which is a multi-swing-high […]
EURUSD, “Euro vs US Dollar” EURUSD has secured above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0575 is expected, followed by a rise to 1.0755. An additional signal confirming the rise will be a rebound from […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The pullback target might be 1920.50. Upon breaking the support, the price could rebound from it and continue the uptrend. However, the price might rise to 1965.00 without any […]
Oil Underpinned by Middle East Tensions Oil prices continue to tread water through the middle of the week as prices consolidate following the sharp rally seen on Friday. Tensions in the Middle East are underpinning oil prices here though, with traders awaiting fresh upside impetus, bulls have been unable to capitalise on last week’s momentum. […]
TitleEURJPY H4 | Bullish bounce off 38.2% fibo? TypeBullish Bounce Preference: Price could fall to our pivot point at 157.9, which is a pullback support level, aligning with the 38.2% fibo retracement and 61.8% fibo projection. Since EURJPY is looking to become bullish, there is a high possibility that the multi-swing high resistance could be […]