Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The Australian dollar, paired with the US dollar, has been slipping down consistently on Wednesday. The current AUDUSD quote is 0.6684. The previous trading session proved to be quite volatile for the Australian dollar due to the Reserve Bank of Australia’s decision to keep the interest rate unchanged at 4.10% per annum. However, by the […]
Record Gains for Tech Stocks The Nasdaq recorded its strongest H1 in 40 years this year with a 32% gain. The US tech index has bene bolstered over the year so far by shifting Fed expectations and resilient US economic data which has pushed back against those warning of an incoming recession. Growing expectations earlier […]
TitleEURJPY H4 | Bullish bounce off pullback support TypeBullish Bounce Preference: Price could approach the pivot point at 156.769 and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 158.47. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 155.171. To discuss […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has rebounded from the support line. In these circumstances, the price is expected to break the level of 5/8 (145.31) and rise to the resistance at 6/8 (146.87). The scenario can be cancelled […]
The BTC price rose to 30,831 USD by Wednesday. The flagship cryptocurrency is currently fully implementing the previously outlined trend with consolidation above 31,150 USD and a further climb to 33,000 USD. The bullish scenario is supported by a new application for licensing submitted by the BlackRock fund to the SEC. The fund attempts to […]
China Trade Restrictions Announced Gold prices are rising today on safe-haven inflows after tensions between China and the US were seen ratcheting up a level. Overnight, China announced a fresh set of restrictions on exports of certain rare metals used in the semiconductor building process. Tit-for-tat actions based around the high-tech microchip sector have been […]
TitleNZDUSD H4 | Bearish reversal off pivot point TypeBearish Reversal Preference: Price is approaching our pivot point at 0.6188 which is a multi swing high resistance. Price could potentially become bearish and head towards our 1st support level at 0.6142. Additionally, price is below a major descending trend line, suggesting that there is a strong […]
EURUSD, “Euro vs US Dollar” EURUSD has formed an Engulfing reversal pattern by the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.0945. However, the price might correct to 1.0845 and continue the uptrend after the test of the support. USDJPY, […]
NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 0.6155 is expected, followed by a rise to 0.6285. An additional signal confirming the rise will be a rebound […]
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Intervention Coming? Speculation over potential Japanese intervention in FX markets is helping underpin the Yen today. USDJPY is holding around the 145 level, a price point which has previously prompted intervention from Japanese authorities. Last September, the government and the BOJ acted in tandem to help influence FX rates for the first time in over […]
Daily Market Outlook, July 04, 2023 Munnelly’s Market Commentary… Wall Street saw slight gains in a range bound trading session ahead of the Independence Day holiday. The market remained cautious, and upside momentum was limited. Investors digested the weak US ISM Manufacturing PMI data as holiday-thinned trading conditions pinned the price action. Asian markets traded […]