Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Lowe Lifts Off Again The RBA caught markets by surprise once again last night as it lifted its headline cash rate by a further .25% from 3.85% to 4.10%. The move marks the second such unexpected hike from the bank, with the majority of analysts polled ahead of the meeting expecting no change whatsoever. The […]
The dollar rally of May has been facing difficulties since the beginning of the month. Despite a decent unemployment report, the situation did not favor buyers. The focus is on the story that the Federal Reserve will postpone the rate hike until July: Yesterday, the dollar was additionally pressured by a negative surprise in the […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY is correcting within the bearish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the lower border of the Cloud at 139.15 is expected, followed by a rise to 141.85. An additional signal confirming growth will be a rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern on H4 near the support level. Currently, the pair might go by the reversal signal in an ascending wave. The correction target could be the resistance level of 1.0720. However, the price might drop to 1.0620 and continue the downtrend without testing the […]
Daily Market Outlook, June 07, 2023 Munnelly’s Market Commentary… Asian equity markets experienced mixed trading on the back of positive momentum from Wall Street, where the S&P 500 achieved its highest close of the year and the Russell 2000 saw gains driven by regional banks. The VIX index dropped to its lowest level since early […]
Hawkish ECB Comments The Dax is still sitting down from recent highs as we head towards the middle of the week. Hawkish comments from ECB’s Lagarde yesterday have given investors pause for thought. The index has ben on a solid run until the recent failure around the 16278.35 level where selling kicked in. The prospect […]
TitleES1! H4 | Resistance overhead TypeBearish Reversal Preference:Price could approach the pivot point of 4294.03 and potentially reverse from here; we could see momentum carry price down to its 1st support of 4273.95. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 4305.81. To discuss this trading idea, head […]
TitleNZDUSD H4 | Bearish reversal from 38.2% Fibo TypeBearish Reversal Preference:Price could approach the pivot point of 0.61123 and potentially reverse from here; we could see momentum carry price down to its 1st support of 0.60046. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.61793. To discuss this […]
The British pound sterling is attempting a local rise against the US dollar. The current GBPUSD quote is 1.2443. The British PMI in services in May, according to the final data, rose to 55.2 points against the preliminary 55.1 points. Compared to the April reading (55.9 points), there is clearly a fall. The decline in […]
Daily Market Outlook, June 06, 2023 Munnelly’s Market Commentary… Asian equity markets had a mixed trading session overnight, with price action mostly range bound. The subdued performance on the Wall Street, where investors “sold the news” following Apple’s headset announcement, coupled with weak data releases, contributed to the clouded sentiment, ISM Services data has prompted […]
TitleBCOUSD H4 | Resistance overhead TypeBearish Reversal Preference: Price could approach the pivot point of 78.403 and potentially reverse from here; we could see momentum carry price down to its 1st support of 75.276. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 80.677. To discuss this trading idea, […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to the 1.0674 level. Today the market is correcting this declining wave, with the correction possible to the 1.0727 level. After it is over, a decline to the 1.0666 level could follow. GBPUSD, “Great Britain Pound vs US Dollar” The currency […]