Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleGBPUSD H4 | Potential react off 50% Fibo? TypeBearish Reversal Preference: Price is approaching our pivot point of 1.29757 that aligns with 50% Fibo retracement. A reverse from here, price could fall to 1st support at 1.28721 which is an overlap support. Alternative scenario:However, if price breaks above the pivot, it could push to 1st […]
EURUSD, “Euro vs US Dollar” EURUSD formed a consolidation range around 1.1057 and expanded it to 1.1117, exiting the range upwards. Today the quotes might rise to 1.1122 (with a test from below). After the price hits this level, a new wave of decline to 1.1020 could start. And if this level also breaks, the […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the oversold area on H4. The RSI is nearing the oversold area. In this situation, a test of -2/8 (0.8544) is expected, followed by a rebound from this level and a rise to the resistance at -1/8 (0.8667). The scenario can be cancelled by a […]
USD Falls Following FOMC The US Dollar has turned lower on the back of the July FOMC yesterday. The Fed hiked rates by a further .25%, as expected, taking rates to their highest level in 22 years. Additionally, the bank was seen leaving the door open to further tightening, noting that the battle against […]
TitleEURUSD H4 | Potential react off 50% Fibo? TypeBearish Reversal Preference: Price is moving toward our pivot of 1.11437 that aligns with 50% Fibo retracement. A reverse from here, price could fall to 1st support at 1.10399 which is a support level. Alternative scenario: However, if price breaks above the pivot, it could push up […]
XAUUSD, “Gold vs US Dollar” Gold is correcting, forming a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1965 is expected, followed by a rise to 2010. An additional signal confirming the rise will be a rebound from the […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1965.50. Upon testing the support, the price might rebound and continue the uptrend. However, the quotes could rise to 1990.00 […]
Daily Market Outlook, July 27, 2023 Munnelly’s Market Commentary… After the Federal Reserve’s widely expected 25bps rate hike and Chairman Jerome Powell’s remarks about keeping the door open for a potential further increase, Asian equity markets traded higher. The Nikkei 225 initially hesitated due to a firmer currency and the Bank of Japan’s ongoing policy […]
Silver broke the level of 24.35 and rebounded. Currently, the asset’s price is rebounding from the broken level again. Silver has also tested the median line of the uptrend and formed the bullish engulfing. The asset is likely to jump and face resistance at the level of 26.25. Brent oil is gradually approaching the resistance […]
The BTC price is hovering around 29,216 USD on Wednesday. Currently, the flagship cryptocurrency appears weak, having lost 3% over the week, resulting in a moderate overall sentiment. Intermediate supports are located near the levels of 29,050 USD and 28,600 USD. The upper boundary of the range is at the 31,150 USD resistance line. Unless […]
The Australian dollar, paired with the US dollar, is once again facing pressure. The current AUDUSD quote is 0.6759. The Aussie’s volatility is drawing attention. On one hand, a strong US dollar exerts pressure on the AUD. On the other hand, China is sending quite positive signals. Today’s statistics revealed that inflation in Australia for […]
The major currency pair remains in a neutral position on Wednesday. The current EURUSD quote is 1.1050. The two-day meeting of the US Federal Reserve System concludes tonight. Regarding the interest rate, the outlook is relatively clear: there will be a 25-basis point increase, bringing the borrowing cost to 5.5% per annum. However, the real […]