USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3585. Next, the price might break the resistance and continue the uptrend. However, the quotes could correct to 1.3475 before rising. […]
TitleUS30USD H4 | Bullish bounce off 61.8% Fibo? TypeBullish Bounce Preference: Price is approaching our pivot point at 34545.6, which is an overlap support level, aligning with the 61.8% fibo projection and slightly below the 61.8% fibo retracement. If price bounces off the pivot point, then price could head towards the 1st resistance level at […]
Daily Market Outlook, September 18, 2023 Munnelly’s Market Commentary… Asian equity markets opened lower, following the declines on Wall Street from the previous Friday. Market sentiment remained cautious, as the week started with reduced trading activity due to a holiday in Japan. The Hang Seng and Shanghai Composite both started with declines, particularly in Hong […]
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EURUSD, “Euro vs US Dollar” EURUSD quotes are in the oversold area on H4. The RSI has broken the resistance line. In this situation, the quotes are expected to break the -1/8 (1.0681) level and rise to the resistance at 0/8 (1.0742). The scenario can be cancelled by a downward breakout of the support at […]