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, September 28, 2023 Munnelly’s Market Commentary… Asian equity markets with a mixed tone as traders evaluated the performance in the US leading into the end of the month and quarter. Global yields and oil prices saw further upside, impacting market sentiment. The Nikkei 225 underperformed, slipping below the 32k handle and facing […]
Rising Yields Turn Stocks Lower Following the correction lower from YTD highs, the Nasdaq continues to hug support at the 14544.9 level today. The uptick in USD and US yields over the last two weeks has been a major downside catalyst for risk sentiment, with tech stocks falling sharply. The Fed is now widely expected […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has reached the oversold area. In this situation, the price is expected to test the 8/8 (0.9277) level, rebound from it, and drop to the support at 6/8 (0.9155). The scenario can be […]
TitleEURUSD Day, Bouncing off support? TypeBullish Bounce Preference:Price is currently at our pivot point of 1.04737, which serves as an overlap support level. that aligns with the 127.2 Fibo extension. A reversal from this point could lead the price rise to the 1st resistance at 1.06425, an overlap resistance. Alternative scenario:However, if the price breaks […]
The price of natural gas has closely approached the psychological level of 3.00 USD/MMBtu. At that, the asset’s price is trying to test this level for the third time in a row. As the cold season approaches, the demand for natural gas will gradually increase since it plays a crucial role in heating residential and […]
TitleSPX500USD H4 | Bearish reaction off 38.2% fibo? TypeBearish Reversal Preference: Price is rising towards our pivot point at 4306.5, aligning with the 38.2% fibo retracement and 78.6% fibo projection. We could expect price to fall from our pivot point, to the 1st support at 4259.5, which is a swing low support level. Alternative scenario:If […]
TitleEURJPY H4 | Bullish bounce off 78.6% fibo? TypeBullish Bounce Preference: Price is falling to our pivot point at 157.04, which is a swing low support and at the 78.6% fibo retracement, and slightly below the 78.6% fibo projection. Price could bounce off the pivot point and rise towards the 1st resistance at 157.83, which […]
The BTC rate on Wednesday is hovering around 26,240 USD. When considering both technical signals and fundamental factors, there have been no changes for BTC since Monday. The flagship cryptocurrency appears completely neutral. Earlier expectations had hinted at a shift in the seasonal cycle around 20 September, which could have boosted buyer confidence. However, so […]
The Australian dollar, paired with the US dollar, is weakening again. The current exchange rate for AUDUSD stands at 0.6379. The primary driver influencing the Australian exchange rate is the behaviour of the US Dollar. However, interestingly, there is a factor that could potentially help stabilise the AUD: inflation data. The consumer price index in […]
USD Rally Continues The US Dollar rally continues to gather pace as we head through the middle of the week. More importantly, as we round out Q3, many of those USD forecasts from Q2 calling for a lower USD now look wildly offside. The Dollar has enjoyed a near 7% rally over the September quarter […]
EUR Selling Continues EURUSD remains under heavy selling pressure into the middle of the week. The latest eurozone data released today shows that bank lending to households in the eurozone rose by just 1% last month, this marks the slowest pace of lending growth since August 2015 and reflects the impact of the stark shift […]
EURUSD, “Euro vs US Dollar” EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0585 is expected, followed by a decline to 1.0485. An additional signal confirming the decline will be a rebound from the […]