Latest Market News
Daily Market Outlook, February 14, 2024 Munnelly’s Market Minute…“US CPI Upside Surprise Leads To Selloff” Most Asian equity indices are trading in negative territory, reflecting the downturn observed in the United States.The significant change in Federal Reserve expectations, first triggered by a strong U.S. jobs report and then reinforced by Tuesday’s unexpected increase in inflation, […]
TitleGBPJPY H4 | Bearish reversal TypeBearish Reversal Preference:The price could rise to the pivot at 188.776, the multi-swing high resistance, from the pivot it could potentially reverse to the 1st support at 187.505, the overlap support. Alternative scenario: The price could rise and break out of pivot and continue rising to 1st resistance at 189.447, […]
Wages Rise, Unemployment Falls The British Pound is rallying today on the back of the latest economic data out of the UK, released this morning. The UK unemployment rate was seen falling back to 3.8% in the three months to December 2023. This marks a decline from the prior reading of 4.2% and was below […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has formed a decline wave to 1.0755. Currently, the market is forming a narrow consolidation range around 1.0765. An escape from the range downwards to 1.0744 is expected today. And if this level also breaks downwards, the potential for a wave to 1.0725 might open, from where […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a test of 2/8 (0.6469) is expected, followed by a breakout of this level and a subsequent decline to the support at […]
TitleEURUSD H4 | Bearish Breakout TypeBearish Drop Preference:Price is falling toward the pivot point of 1.0761 which is a multi-swing low support level. A breakout from this level price could continue to fall to 1st support at 1.0727, a swing low support level Alternative scenario:If price bounces the pivot, it could ride to 1st resistance […]