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The primary currency pair retreated lower by Friday. The current EURUSD exchange rate stands at 1.0904. Excessive market emotions are gradually subsiding. In October, Americans’ earnings increased by 0.2% m/m, following a previous 0.4% m/m growth. This result was expected. Spending also rose by 0.2% m/m after a 0.7% increase in September. These average results […]
TitleEURJPY H4 | Bearish reversal off 50% fibo? TypeBearish Reversal Preference: Price could rise towards our pivot point at 162.14, which is a swing high resistance level, aligning with the 50% fibo retracement and 61.8% fibo projection. Since there is fibo confluence here, price could react to the pivot point and fall to the 1st […]
Daily Market Outlook, December 1, 2023 Munnelly’s Market Commentary… Asia – Asian-Pacific stocks had a relatively subdued start to the new month, experiencing limited movement as markets took a pause following the November rally. Economic releases and geopolitical developments, including the resumption of the conflict in Gaza, kept investors engaged.The Nikkei 225 index in Japan […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a correction to 1.1010. Currently, a decline wave to 1.0860 might form, possibly followed by a correction to 1.0920. Practically, a consolidation range is forming around this level. The main scenario presumes a decline to 1.0713. This is the first target. GBPUSD, “Great Britain Pound vs US […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a decline wave to 1.0940. By now, the market has formed a consolidation range around this level and, escaping it downwards, reached the local target of 1.0878. A correction to 1.0940 might develop today (a test from below). After the correction is over, a new decline structure […]
TitleAUDUSD H4 | Bullish bounce off 38.2% fibo? TypeBullish Bounce Preference: Price is falling to our pivot point at 0.6588, which is an overlap support, aligning with the 38.2% fibo retracement. If price bounces off our pivot point, price could rise towards the 1st resistance at 0.6629, which is a swing high resistance level. Alternative […]