Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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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 […]
TitleBCOUSD H4 | Rising into pullback resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 87.859 which is a pullback resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 85.881 which is a pullback support level. Alternative scenario:IIf price breaks above the pivot […]
TitleEURUSD H4 | Reacting off 61.8% Fibo? TypeBearish Reversal Preference: Price is rising toward our pivot point of 1.05502, which serves as a pullback resistance level aligning with the 61.8% Fibonacci. A reversal from this point could lead to a price drop to the 1st support at 1.04886, an overlap support level. Alternative scenario: However, […]
EURUSD, “Euro vs US Dollar” EURUSD has made a corrective movement to 1.0530. At the moment, the market is forming a consolidation range under this level. An extension to 1.0535 is not excluded today. After the price reaches this level, a new declining wave to 1.0482 is expected. Breaking this level, the price might drop […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the support line. In this situation, a test of 5/8 (0.9094) is expected, followed by a rebound from it and a rise to the resistance at 7/8 (0.9216). The […]
The price of Bitcoin has tested the level of 28500. However, Bitcoin didn’t manage to hit the key levels of 29000 and 30000. The asset’s price might still retest the broken downtrend, rebound, and target the resistance area formed between levels 29000 and 30000. So, let’s observe whether this scenario might work out. The price […]
TitleUS30USD H4 | Heading into 23.6% Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 33263.89 which is a pullback resistance that aligns close 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 32829.28 which is a […]