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 8, 2023 Munnelly’s Market Commentary… Asian equity markets faced downward pressure in response to declines in the technology sector on Wall Street, driven by concerns about Apple’s performance in China. Additionally, markets were digesting disappointing downward revisions to Japanese GDP data for the second quarter. The Nikkei 225 index retreated, slipping […]
Dollar Index Holds Firm Around 105 Points The dollar index continues to consolidate around 105 points, reaching levels not seen since mid-March of this year. Meanwhile, EURUSD briefly dipped below the 1.07 level, but the lack of significant news failed to capture buyers’ interest. GBPUSD, on the other hand, remains range-bound between 1.2450 and 1.25 […]
TitleGBPUSD H4 I Potential Bearish Reversal? TypeBearish Reversal Preference: Price is rising toward our pivot point of 1.25276, which serves as a pullback resistance level that aligns with the 61.8% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 1.24478, a swing-low support level.. Alternative scenario:However, […]
TitleUSDJPY H4 I Falling to overlap support? TypeBearish Reversal Preference:Price is rising toward our pivot point of 147.361, which serves as an overlap resistance level that aligns with 61.8% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 146.56, an overlap support level. Alternative scenario:However, if […]
TitleSPX500USD H4 | Bearish reaction off 38.2% fibo? TypeBearish Reversal Preference:Price has previously bounced off a pullback support and is rising towards the pivot point at 4475.9, which is a pullback resistance level and at the 38.2% fibo retracement. If price closes below the pivot point, then price could fall to the 1st support at […]
TitleUSDJPY H4 | Reacting off the resistance level? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 147.734, which serves as a multi-swing high resistance level. A reversal from this point could lead the price to drop to the 1st support at 146.478, a pullback support level. Alternative scenario:However, if the price breaks […]
Gold is heading down and gradually approaching the supporting zone formed between the levels 1900 and 1913. The asset might potentially rebound from this zone and jump to target the downtrend. So, let’s observe if it is going to happen. Bitcoin keeps moving in a very narrow range. It might eventually rebound from the supporting […]
BOC Holds Rates Steady The Canadian Dollar has been a little firmer on the back of the September BOC meeting yesterday. The bank held rates unchanged at 5%, as expected, though signalled that further tightening might still be warranted given the inflation backdrop. In its decision, the BOC acknowledged that the domestic economic outlook had […]
TitleSPX500USD H4 | Bullish bounce off 50% fibo? TypeBullish Bounce Preference:Price is falling to our pivot point at 4443.1, which is an overlap support and at the 50% fibo retracement. If price bounces from the pivot point, then we can see price rise towards the 1st resistance at 4477.1, which is a pullback resistance and […]
EURUSD, “Euro vs US Dollar” EURUSD has performed a declining movement to 1.0701. Today the market is forming a consolidation range above this level. With an escape from the range upwards, a link of growth to 1.0755 (with a test from below) is not excluded, followed by a decline to 1.0630, from where the trend […]
The Japanese yen, paired with the US dollar, remains weak. The current USDJPY exchange rate stands at 147.52. From January this year until now, the yen has depreciated by more than 12%. The US Dollar easily gains ground against the JPY without encountering resistance. When might the yen have a chance for recovery? This depends […]
GBP Under Pressure GBP is turning lower today on the back of comments yesterday from BOE governor Andrew Bailey who noted that BOE rates are likely near their peak. On the back of 14 consecutive rate hikes, the BOE is widely expected to hike rates again later this month. However, on the back of Bailey’s […]