Latest Market News
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a growth wave, reaching a local target of 1.0875. Today a correction structure targeting 1.0839 (testing from above) is expected. After the correction, an upward movement towards 1.0877 could follow, with the price subsequently declining to the first target of 1.0840. GBPUSD, “Great Britain Pound […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the support at 1.0835. However, the price might rise to 1.0890 and extend the uptrend without any correction. […]
Daily Market Outlook, March 5, 2024 Munnelly’s Market Minute… “China Data & Congress Stimulus Measures Dissapoint” On Tuesday, Asian shares showed a mixed performance as investors took into account China’s official announcements, including a bold 5% growth target. Mainland China’s markets experienced a strong surge, while Japan’s Nikkei 225 index surpassed the 40,000 level reached […]
TitleBearish Downturn TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.65156 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64882 which is a pullback support level. Alternative scenario: If […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD formed a Shooting Star reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the 1.3550 mark. Next, the price might rebound from the support and maintain its upward trajectory. However, the quotes could rise to […]
The Japanese yen remains under pressure against the US dollar. The current USDJPY exchange rate stands at 150.50. The instrument hovers within a sideways range, but the yen continues to attract bearish interest. Japan published the February Core CPI for Tokyo. This indicator is considered leading for overall inflation estimation. The index saw a 2.5% […]