Latest Market News
TitleGBPJPY H4 | Bearish breakout? TypeBearish Breakout Preference: (We will wait for price to pullback at our pivot) Price is falling toward our pivot point of 184,62, which serves as resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.25647, a multi-swing low support level. Alternative […]
The main currency pair on Wednesday continues falling. The current EURUSD exchange rate stands at 1.0793. Bulls in the USD are back on scene. At the same time, attention is focused not as much on the Fed’s interest rate but on the ECB’s rate. Earlier the ECB’s representatives mentioned that inflation in the eurozone was […]
The Australian dollar saw a moderate increase against the US dollar on Wednesday. The current AUDUSD exchange rate stands at 0.6589. Today the market analysed the Australian GDP statistics for Q3 2023. The economic increase did not live up to the expectations, demonstrating the slowest growth rate of the year. Calculated quarter by quarter, the […]
China Downgrade Copper prices look to be stabilising today following two days of heavy selling which saw copper futures reversing sharply from the 3.9410 level. The reversal lower comes amidst a fresh uptick in concerns over the health of the Chinese economy. News that ratings agency Moody’s has cut China’s credit outlook to negative has […]
Daily Market Outlook, December 6, 2023 Munnelly’s Market Commentary… Asia – Asian-Pacific stocks experienced widespread gains, driven by a more subdued yield environment, increased risk sentiment, and anticipation surrounding important data releases. The recent decline in US JOLTS job openings raised hopes for potential Federal Reserve rate cuts, further boosting the positive market atmosphere. The […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1.3500. Next, the price could break the support and continue the downtrend. However, the quotes might correct to 1.3615 before falling. AUDUSD, […]