Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Brent Brent quotes have broken the 200-day Moving Average on H4 and currently rest below it, indicating probable development of a downtrend. However, the RSI is already in the oversold area. As a result, in this situation, a test of 1/8 (82.81) is expected, followed by a rebound from this level and a rise to […]
TitleUSDCAD H4 | Falling to 23.6% Fibo support TypeBullish Bounce Preference:Price is falling towards the pivot point of 1.36955 which is an overlap support that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.37841 which is a swing-high […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2175 is expected, followed by a decline to 1.1955. An additional signal confirming the decline will […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3790. Next, the price might break the resistance and continue the uptrend. However, the quotes could correct to 1.3680 before rising. AUDUSD, “Australian Dollar […]
TitleGBPJPY H4 I Reacting off resistance? TypeBearish Reversal Preference: The price is rising toward our pivot point at 181.24, which is an overlapping resistance level aligned with the 61.8% Fibonacci retracement. A reversal from this point could lead to a drop in price to the 1st support at 179.48, which is a swing-low support level. […]
TitleEURGBP H4 I Bearish continuation expected? TypeBearish Reversal Preference: The price is rising toward our pivot point at 0.86701, which is an overlapping resistance level. A reversal from this point could lead to a drop in price to the 1st support at 0.8633, which is an overlap support level. Alternative scenario: However, if the price […]
The primary currency pair is maintaining its stability on Friday. The current EURUSD exchange rate stands at 1.0543. The market is holding its strength as it prepares for the release of substantial economic data from the US. The unemployment rate is expected to drop to 3.7% in September from the previous 3.8%, and non-farm payrolls […]
BTC is hovering around 27,390 USD on Friday. Yesterday, the cryptocurrency attempted to rise again, apparently with no noticeable success. Everything is going according to the usual scenario: investors start buying the cryptocurrency, raising the exchange rate above 28,000 USD, but fail to secure above the resistance level of 28,500 USD. And this is a […]
TitleBCOUSD H4 | Bearish momentum persists TypeBearish Reversal Preference:Price could rise towards the pivot point of 85.906 which is a pullback resistance and potentially reverse from here; we could see momentum carry price down to its 1st support at 83.087 which is a pullback support level. Alternative scenario:If price breaks above the pivot point, it […]
Daily Market Outlook, October 6, 2023 Munnelly’s Market Commentary… Asian equity markets mostly traded with mixed results amid uncertainty in global markets. Japan’s Nikkei 225 showed slight gains, while Hong Kong’s Hang Seng outperformed due to strength in various sectors. Market sentiment remained cautious as investors awaited the release of the US Non-Farm Payrolls report, […]
The primary currency pair remains inclined towards a rebound on Thursday. The current EURUSD exchange rate is 1.0522. The yield on US Treasury bonds decreased yesterday, as did crude oil prices. Capital markets seem to have taken a pause to assess the stability of the current trends. The US statistics released yesterday did little to […]
The Japanese yen paired with the US dollar has finally received aid from the Japanese government and central bank. The current USDJPY exchange rate stands at 148.55. News appeared yesterday confirming yen interventions in Japan. However, no official statement has been released on this matter as of yet. The latest documents from the Bank of […]