Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Middle East Impact Gold prices softened over European and US trading on Monday following a sharp rally on Friday as safe-haven flows surged higher on Israel/Palestine news flow. Gold futures recorded their largest single-day gain since March on Friday as risk assets tumbled against the backdrop in the Middle East. With the situation still unfolding […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1.3590. Next, the price could rebound from the support and extend the uptrend. However, the quotes might rise to 1.3740 without testing […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to 1.0500. A link of correction to 1.0535 is expected today (with a test from below). After the quotes reach this level, they could drop to 1.0467. And with a breakout of this level as well, the trend could continue to 1.0374. GBPUSD, […]
TitleNZDUSD H4 | Heading into resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.59341 which is a pullback resistance that aligns cloe to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.58815 which is a pullback support […]
TitleSPX500USD H4 | Bullish bounce off pivot? TypeBullish Bounce Preference: Price could potentially fall to our pivot point at 4315.6, which is an overlap support level and slightly above the 50% fibo retracement. If price bounces off our pivot point, then price could rise towards the 1st resistance at 4367.1, which is a swing high […]
The BTC exchange rate surged to 27,244 USD on Monday. There is a belief that the current positive sentiment around BTC is related to the seasonal growth factor. While this viewpoint should be approached with caution, it should not be dismissed entirely. The market’s focus is on at least two external factors: the Federal Reserve’s […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the upper boundary of the Cloud at 1.0565 is expected, followed by a decline to 1.0365. An additional signal confirming the decline will be a rebound from the […]
Daily Market Outlook, October 16, 2023 Munnelly’s Market Commentary… Asian equity markets are predominantly in the red due to ongoing geopolitical concerns related to the Israel-Hamas conflict, which has the potential to affect neighbouring countries. The Nikkei 225 has underperformed, breaking below the 32K handle, despite a lack of fresh catalysts. The Hang Seng and […]
TitleUS30USD H4 | Bullish bounce off 78.6% fibo? TypeBullish Bounce Preference: Price could fall to our pivot point at 33570.8, which is an overlap support level, aligning with the 78.6% fibo retracement. If price bounces off our pivot point, then price could rise towards the 1st resistance at 33898.2, which is a multi-swing high resistance […]
TitleGBPUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:The price has just reacted off our pivot point of 1.23359, which serves as a swing-high resistance level aligning with the 127.2% Fibonacci extension. A reversal from this point could lead to a price drop to the 1st support at 1.22596, an overlapping support level. Alternative scenario:However, […]
Daily Market Outlook, October 12, 2023 Munnelly’s Market Commentary… Asian equity markets saw gains, supported by Wall Street’s rebound and dovish Fed commentary. The Nikkei 225 advanced following softer PPI data and dovish comments from BoJ Board Member Noguchi. Hang Seng and Shanghai Comp. were up, with Hong Kong leading the way by breaching the […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of growth to 1.0638. The market has formed a consolidation range under this level and, escaping it downwards, continues developing the declining wave to 1.0470. After the price hits this level, a link of growth to 1.0550 is not excluded (with a test from below), […]