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, October 13, 2023 Munnelly’s Market Commentary… Asian equity markets faced headwinds from Wall Street, where headline CPI data exceeded expectations. The region also contended with softer-than-expected inflation and mixed trade data from China. The Nikkei 225 traded negatively, choppy price action initially stemmed the downside. Japan announced plans to release an economic […]
The Japanese yen paired with the US dollar is steadily weakening. The current USDJPY exchange rate stands at 149.71. The US dollar is once again approaching the crucial psychological threshold for the market at the level of 150 yen, driven by yesterday’s release of US inflation statistics. The gap between Japanese and US government bond […]
BTC is decreasing to 26,800 USD on Friday. Another attempt to recover has failed. The cryptocurrency market is not responding to news related to the US stock market, whether positive or negative. The correlation between the cryptocurrency market and the US stock market appears to have disappeared completely. This poses a challenge for digital assets […]
TitleUS30USD H1 | Bearish reversal off 61.8% fibo? TypeBearish Reversal Preference:Price is rising towards our pivot point at 33783.9, which is a swing high resistance level, aligning with the 61.8% fibo retracement and 100% fibo projection. Price could react bearishly, to fall to the 1st support level at 33494.4, which is a swing low support […]
TitleUSDJPY H4 I Falling from 127.2% Fibo? TypeBearish Reversal Preference: The price has just reacted off our pivot point of 149.76, 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 149.29, a pullback support level. […]
The primary currency pair on Thursday is poised for a cautious rise. The current EURUSD exchange rate stands at 1.0630. The US Producer Price Index statistics released yesterday indicate a gradual deceleration in inflation in September. This has once again prompted investors to speculate about whether the Federal Reserve has concluded its aggressive cycle of […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes have broken the 200-day Moving Average on H4 and currently found themselves below the line, indicating probable development of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, a test of 3/8 (0.8977) could be expected, followed by a rebound […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2275 is expected, followed by a rise to 1.2505. An additional signal confirming the rise will be a rebound from the lower […]
The Japanese yen is once again depreciating against the US dollar. The current USDJPY exchange rate stands at 149.14. The market has not received any confirmation of interventions by the Bank of Japan. USDJPY quotes are gradually returning to the levels before the emotional turmoil. Meanwhile, the international backdrop is becoming more stable. The yield […]
Gold is heading up. The asset rebounded from the supporting level of 1815.00. The price of gold might potentially rebound from the resistance area formed between levels 1900 and 1913 and drop. So, let’s observe if it is likely to happen. Currently, the American stock index S&Р500 is heading up. It might eventually rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target could be the support at 1.0570. However, the price might correct to 1.0680 and extend the downtrend after a test […]
EURUSD, “Euro vs US Dollar” EURUSD found support at the 1.0600 level and continues developing a wave of growth to 1.0670. After the quotes reach this level, a link of decline to 1.0600 might follow (with a test from above). Next, a rise to 1.0706 is expected. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD […]