Latest Market News
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 […]