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 13, 2023 Munnelly’s Market Commentary… Asian equity markets faced downward pressure, influenced by the recent tech-related declines on Wall Street, driven by post-Apple event disappointment. Additionally, market participants exhibited caution as they awaited the release of upcoming U.S. Consumer Price Index (CPI) data, which is of significant interest to global financial […]
TitleCHFJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference: Price could rise towards the pivot point of 165.722 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 164.113 which is a multiple swing-low support […]
TitleEURJPY H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price is approaching the pivot point at 157.83, which is an overlap resistance level and slightly above the 61.8% fibo retracement and 78.6% fibo projection. We can expect price to have a bearish reaction off the pivot point and fall to the 1st support […]
FTX Sell-Off to Begin The Bitcoin market is seeing plenty of volatility this week. The market is reacting to news that bankrupt crypto-broker FTX is set to begin liquidating its assets this week. The now-collapsed broker has major holding of several big coins such as Solana, ETH and Dogecoin among others. The sell-off is feared […]
The British pound, paired with the US dollar, is gearing up for a torrent of statistical information. The current GBPUSD exchange rate stands at 1.2511. The pound is hovering near its three-month lows, with investors eagerly anticipating a substantial volume of statistical data releases, including the monthly GDP report and employment market updates. At the […]
The Japanese yen, paired with the US dollar, still appears weak but is currently stabilising. The current exchange rate for USDJPY stands at 146.68. The basis for the recovery of JPY positions is the local weakening of the US dollar. Even if it is just a brief respite, it holds great value for the yen. […]
Wages Rise Again Focus is back on the BOE today after the latest set of UK employment data released this morning. The Office for National Statistics reported that average wages (excluding bonuses) rose 7.8 % higher in the three months through July when compared with the same period a year earlier. This marks the fastest […]
Investors have taken a more positive view of the systemic risk situation in China following news that the major Chinese developer Country Garden has been granted a deferral of coupon payments on some medium-term bonds. This development has lifted investor sentiment in global markets, with Asian stocks reacting optimistically to the news from China today. […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1914.00. After testing the support level, the price might rebound and continue the uptrend. However, the quotes could rise to […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI has rebounded from the resistance line. In these circumstances, the price is expected to break the 1/8 (0.6408) level down and drop to the support at 0/8 (0.6347). The scenario can be cancelled […]
TitleAUDUSD H4 | Approaching 61.8% Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.64682 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.63574 which is a pullback support […]
Eurozone Growth Fears The Euro remains under pressure on Tuesday as the latest set of eurozone economic data adds to bearish sentiment. The ZEW economic sentiment survey for the eurozone slipped further into negative territory at -8.9 today, down from -5.5 the prior month and below the -6.2 the market was looking for. Fears for […]