Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Hawkish BOE Expectations Driving GBP After pausing since around late June until the middle of this month, the bull rally looks to be back underway in GBPJPY. Hawkish BOE expectations are underpinning the current drive higher with traders anticipating that the central bank will be forced to hike at least once more this year, potentially […]
Focus on Fed-Speak The US Dollar is stalled at a key resistance level ahead of a slew of incoming data and Fed-speak this week. Looking ahead today, Fed’s Goolsbee and Bowman are due to speak. Both Fed members have been on the hawkish side recently, speaking in favour of further tightening as a result of […]
EURUSD, “Euro vs US Dollar” EURUSD has received support at 1.0875 and could extend the correction to 1.0933. Practically, a wide consolidation range continues developing around 1.0900. With the price exiting the range downwards, the wave of decline could continue to 1.0817, from where the trend might extend to 1.0733. This is a local target. […]
The market’s most traded currency pair regained equilibrium on Tuesday. The current EURUSD exchange rate stands at 1.0910. With the macroeconomic background neutral and the statistics calendar empty, investors are stabilising their expectations concerning the major currency pair. According to the Commodity Futures Trading Commission (CFTC), the volume of net short positions on the USD […]
TitleEURJPY H4 | Bearish reversal off 127.2% fibo extension? TypeBearish Reversal Preference: Price is approaching our pivot point at 159.77, which is at the 127.2% fibo extension. If price does not break above the pivot point, and the body of the candle closes below, price could potentially fall to the 1st support at 158.45, which […]
Stocks Fighting On US stocks are continuing to push higher on Tuesday as the recovery off recent lows continues. The correction in the Nasdaq has seen the market shedding around 9% from YTD highs. A shift in expectations regarding the Fed has been the major driver behind the move lower. With traders eyeing fresh potential […]
EURUSD, “Euro vs US Dollar” EURUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0935 is expected, followed by a decline to 1.0745. An additional signal confirming the decline will be […]
XAUUSD, “Gold vs US Dollar” Gold has formed an Inverted Hammer reversal pattern at the support level. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1910.00. Upon testing the resistance, the price might get the chance for a rebound from it and further development of […]
Daily Market Outlook, August 22, 2023 Munnelly’s Market Commentary… Asian equity markets exhibited mixed trading overnight, mirroring a similar performance seen in the United States. In the US, the technology sector experienced a rally, although broader market gains were constrained due to the ongoing rise in global yields. The Nikkei 225 index advanced as the […]
TitleUSDCHF H4 | Potential Bullish Bounce off 23.6% Fibo? TypeBullish Bounce Preference:Price could potentially bounce off the 23.6% fibo, which is at our pivot point at 0.8757. If price does not break below the pivot point, then price could rise to the 1st resistance at 0.8827, which is at the 61.8% fibo retracement, and an […]
Daily Market Outlook, August 21, 2023 Munnelly’s Market Commentary… Asian equity markets traded in a mixed trading pattern as the disappointment stemming from the People’s Bank of China’s (PBoC) decision on Loan Prime Rates overshadowed recent support measures implemented by China. The Nikkei 225 index experienced a positive trend due to Japan’s announcement of the […]
Bitcoin has dropped. The asset’s price is now approaching a very important supporting zone formed between levels 24800 and 25200. This zone might drive Bitcoin up. So far, the Bitcoin move can be considered a mere correction. In this case, it would be wise to check the price movements, that is, the candlestick formations next […]