Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern near the support level. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1980.00. Upon testing the resistance, the price could break it and continue an uptrend. However, the quotes could pull back to […]
The FTSE Finish Line – August 1 – 2023 FTSE Miners Lose Their Shine Weighing On Sentiment On Tuesday, the UK’s FTSE 100 initially saw gains, but later reversed its course due to losses in mining firms outweighing the positive impact of upbeat earnings reports from HSBC, Weir Group, and Diageo. BP’s shares edged higher […]
AUD Under Pressure The Aussie Dollar has been under heavy selling pressure across the European morning on Tuesday, following the August RBA meeting overnight. The bank caught markets a little offside by keeping rates steady at 4.10%. While expectations were split, consensus favoured a further .25% hike yesterday, as reflected in the Bloomberg economists survey […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI is testing the support line. In these circumstances, a downward breakout of the 5/8 (0.6652) level is expected, followed by a decline to the support level at 4/8 (0.6591). The scenario can be […]
Indices, Unemployment, and UK Interest Rate: this upcoming week is set to be eventful, with several key data releases impacting global markets. Here’s a breakdown of what to watch out for. USD: Anticipation for Index Data The US dollar quote will be heavily influenced by two critical data points – the Purchasing Managers’ Index (PMI) […]
TitleNZDUSD H4 | Bearish reversal TypeBearish Reversal Preference: Price has reversed from the pivot point of 0.62198 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level; we could see momentum carry price down to its 1st support at 0.61318 which is an overlap support that aligns with a confluence of Fibonacci […]
TitleUSDJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is nearing our pivot point of 142.956 that aligns with 78.6% Fibo retracement and supply zone. A reverse from here, price could fall to 1st support at 141.941 which is a pullback support level. Alternative scenario:However, if price break above the pivot, it could push to […]
TitleGBPUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is moving toward our pivot point of 1.2884 that aligns with 50% FIbo retracement. A reverse from here, price could fall to 1st support level at 1.2776 Alternative scenario:However, if price breaks above the pivot, it could push to 1st resistance at 1.2968 which is a […]
Factory Activity Drops Again The latest data out of China overnight has offered little reassurance over the health of the world’s second largest economy. The manufacturing PMI was seen staying in negative territory for a fourth straight month last month. While slightly above forecasts at 49.3 vs 48.9 expected, the data is further evidence of […]
RBA On Watch The RBA will meet overnight tonight for its August rate decision. Expectations have been heavily divided in the build up to this meeting though, as it stands, the market is currently forecasting a further .25% hike, which would take Aussie rates up to 4.35% from 4.1% currently. On the back of two […]
On Monday, the week kicked off with the report on China’s industrial sector activity. The PMI index surprised on the upside, rising to 49.3 and beating consensus estimate of 49.2 points. The slowdown in activity has been gradually easing for the second consecutive month, alleviating concerns about China’s economy and supporting the search for yield […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the resistance at 1.1130. However, the quotes could correct to 1.0960 and continue the uptrend after the pullback. USDJPY, […]