Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleEURJPY H4 | Bullish reversal off 61.8% fibo? TypeBullish Bounce Preference:Price could fall to our pivot point at 157.07, which is a pullback support level, aligning with the 61.8% fibo retracement. If price bounces off the pivot point, then price could rise towards the 1st resistance at 157.91, which is an overlap resistance level, aligning […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured under the support level. The instrument is going under the Ichimoku Cloud, which implies a downtrend. A test of the Kijun-Sen line at 1.2425 is expected, followed by a decline to 1.2215. An additional signal confirming the decline could be a rebound from the upper […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3585. Next, the price might break the resistance and continue the uptrend. However, the quotes could correct to 1.3475 before rising. […]
TitleUS30USD H4 | Bullish bounce off 61.8% Fibo? TypeBullish Bounce Preference: Price is approaching our pivot point at 34545.6, which is an overlap support level, aligning with the 61.8% fibo projection and slightly below the 61.8% fibo retracement. If price bounces off the pivot point, then price could head towards the 1st resistance level at […]
Daily Market Outlook, September 18, 2023 Munnelly’s Market Commentary… Asian equity markets opened lower, following the declines on Wall Street from the previous Friday. Market sentiment remained cautious, as the week started with reduced trading activity due to a holiday in Japan. The Hang Seng and Shanghai Composite both started with declines, particularly in Hong […]
EURUSD, “Euro vs US Dollar” EURUSD quotes are in the oversold area on H4. The RSI has broken the resistance line. In this situation, the quotes are expected to break the -1/8 (1.0681) level and rise to the resistance at 0/8 (1.0742). The scenario can be cancelled by a downward breakout of the support at […]
The BTC exchange rate is stable on Monday, standing at 26,664 USD. The market is calm. The weekly surplus of the flagship cryptocurrency amounts to 3.57%. Nothing has visibly changed among fundamental and technical indicators. The situation might alter on Wednesday when the US Federal Reserve will declare its interest rate decision and give hints […]
TitleGBPUSD H4 | Falling from a pullback resistance? TypeBearish Reversal Preference:Price is rising toward our pivot point of 1.24444, which serves as a pullback resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.23337, an overlap support level. Alternative scenario:However, if the price breaks above the […]
Daily Market Outlook, September 15, 2023 Munnelly’s Market Commentary… Asian equity markets posted gains as they followed the positive global trend driven by robust U.S. economic data, a dovish rate hike by the European Central Bank (ECB), and the People’s Bank of China’s (PBoC) cut in the Reserve Requirement Ratio (RRR). Additionally, better-than-expected Chinese economic […]
The BTC exchange rate rose to 26,648 USD. The daily increase is 1.6%. This is positive news. Apparently, investors have perceived external conditions as neutral, and find current price levels attractive for acquisitions. Nonetheless, there is no indication of large-scale purchases at this stage. Support for BTC is at 25,150 USD, while the resistance level […]
The main currency pair is holding a weak position on Friday. The current EURUSD exchange rate stands at 1.0649. The major currency pair experienced strong pressure yesterday. The European Central Bank held its meeting and raised the interest rate by 25 basis points to 4.5% per annum. The euro would have survived this decision quite […]
DXY Breaks Out The US Dollar broke out to its highest levels since March yesterday as the latest round of US data added further uncertainty to the Fed outlook. August retail sales were seen coming in above forecasts with the headline reading printing 0.6%, well above the 0.1% the market was looking for. Similarly, the […]