Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Brent Brent quotes have broken the 200-day Moving Average on H4 and are now above it, indicating a probable development of an uptrend. The RSI has rebounded from the support line. In this situation, further growth to the resistance level of 6/8 (78.12) is to be expected. The scenario can be cancelled by a downward […]
The BTC dropped to 3,0119 USD by Friday. Investor activity decreased after the BTC breached the 31,000 USD mark. However, there are still reasons for the cryptocurrency to continue rising. Once the market secures above 31,150 USD, it is expected to head towards 33,000-34,000 USD. According to the latest news, the BlackRock fund has initiated […]
TitleUSDJPY H4 | Potential bearish reversal TypeBullish Bounce Preference: Price is falling toward our pivot point of 142.098 which is a pullback support level that aligns with 50% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 143.896 which is a pullback resistance level Alternative scenario: However, if price below […]
TitleXAUUSD H4 | React off resistance TypeBearish Reversal Preference: Price is currently at our pivot point of 1912.723 which is an overlap resistance. A reverse from here, price could fall to 1st support at 1894.686 which is a swing low support level Alternative scenario:However, if price breaks above the pivot, it could rally to 1st […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2705 is expected, followed by a rise to 1.2870. An additional signal confirming the rise will […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.3300. Next, the price could break the level and go further by the downtrend. However, the quotes might rise to 1.3440 […]
Threads Takes on Twitter Shares in Meta are trading higher today ahead of the open as the stock receives a bullish boost from the launch of new Twitter rival Threads. The new app, which takes its users profile name, pictures and contacts over from Instagram on signup, has reportedly gained around 10 million users in […]
Daily Market Outlook, July 06, 2023 Munnelly’s Market Commentary… Asian equity markets mostly traded lower, influenced by weak global data releases, a rising yield environment, and limited guidance from the FOMC Minutes regarding future rate increases. The Nikkei 225 faced selling pressure after falling below the 33K handle. The Hang Seng and Shanghai Comp also […]
TitleGBPUSD H4 | Falling to 50% Fibo support TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.26699 and could potentially reverse from here; we could see momentum carry price up/down to its 1st resistance at 1.27522. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 1.26044. […]
US Data Dump Due The Dow Jones is holding just below a major resistance level on Thursday as traders brace for a slew of US data later today. US ISM Services PMI, ADP employment change, unemployment claims and JOLTS job openings are all on deck. Following a muted few sessions for the Dollar, today’s data […]
The major currency pair remains under pressure on Thursday. The current EURUSD quote is 1.0840. The US dollar gained support from the Federal Reserve yesterday when it released the minutes of its last meeting, which was held two weeks ago. Some monetary committee members are ready to support a 25-basis points rate hike in July. […]
TitleUS30USD H4 | Bullish reversal off 61.8% fibo TypeBullish Bounce Preference:Price is slowly approaching our pivot point at 33912.23, and could potentially have a bullish reversal at the 61.8% fibo retracement level. If there’s a bullish reversal, price could reach the 1st resistance at 34499.77. Alternative scenario:If price breaks below the pivot point, then price […]