Market Analysis

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. However, the RSI is in the overbought area, which could be a sign of a probable correction. In this situation, a downward breakout of 5/8 (145.31) is expected, followed by a decline […]

USD Rally Weighs on Gold Gold prices have been drifting lower over recent weeks amidst the fresh uptick we’ve seen in USD. With traders now growing more uncertain over the projected US rate path in coming months, USD has made a comeback with pricing reflecting a higher likelihood of a further hike from the Fed. […]

Core CPI Holds Steady The latest set of UK CPI figures released today has seen GBP trading higher as traders move to price in a further BOE hike in September. The headline CPI reading was seen cooling to 6.8% from the prior month’s 7.9% reading, a little above the 6.7% the market was looking for, […]

The major currency pair maintains relative stability on Wednesday. The current EURUSD exchange rate stands at 1.0910. Retail sales volume in the US in July increased by 0.7% month-on-month. The data exceeded expectations: forecasts suggested a 0.4% increase contrasting with the 0.2% upturn seen the previous month. On an annual basis, the index rose by […]

EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.0965. However, the price might drop to 1.0860 and continue the downtrend without any pullback. USDJPY, […]

The BTC exchange rate dropped to 29,190 USD on Wednesday. The risks of the price testing the local low near 28,585 USD are still relevant. Critical support levels remain at 28,600 USD and 28,350 USD, with resistance at the 30,300 USD mark. The stability of the flagship cryptocurrency is crucial for a few more weeks […]

The Japanese yen paired with the US dollar is devaluing at a rapid pace. The current USDJPY exchange rate stands at 145.49. Due to the interest rate differential and monetary sentiment, the JPY exchange rate remains under significant pressure. This is occurring even amid a slight adjustment in the Bank of Japan’s monetary policy. Japan’s […]

TitleGBPUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference: Price is approaching our pivot point of 1.27405 which is a multi swing high resistance that aligns with 61.8 % Fibo retracement. A reverse from here, price could fall to 1st support at 1.26725 Alternative scenario: However, if price breaks above the pivot, it could push […]

Daily Market Outlook, August 16, 2023 Munnelly’s Market Commentary…  Asian equity markets faced downward pressure in response to declines on Wall Street, reflecting a broad risk-off sentiment triggered by global macroeconomic challenges, notably the recent string of weak data from China. The Nikkei 225 index extended its losses, falling below the 32K handle. Major stock […]

EURUSD, “Euro vs US Dollar” EURUSD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0980 is expected, followed by a decline to 1.0695. An additional signal confirming the decline will be a rebound from […]

EURUSD, “Euro vs US Dollar” EURUSD finished a wave of correction at 1.0951. Today the market has performed an impulse of decline to 1.0898. At the moment, a consolidation range is forming above this level. The price is expected to exit the range downwards and extend the wave to 1.0850, from where the trend could […]

TitleXAUUSD H4 | Bullish bounce off pivot? TypeBullish Bounce Preference:Price could potentially bounce off the pivot point at 1903.45, and head towards the 1st resistance at 1912.38, which is at the 50% fibo retracement level. Furthermore, there is also a bullish divergence happening, which could mean that there is potential for price to have a […]