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Daily Market Outlook, September 19, 2023 Munnelly’s Market Commentary… Asian equity markets mostly traded lower, mirroring the flat performance in the United States. The lack of significant catalysts and mounting caution ahead of upcoming central bank decisions contributed to the subdued market sentiment. The Nikkei 225 underperformed as recent regional losses caught up with the […]
TitleNZDUSD H4 | Rising into 50% Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.5937 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.58667 which is a pullback […]
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AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are under the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has broken the support line. In this situation, a test of the 1/8 (0.6408) level is expected, followed by its breakout and a decline to 0/8 (0.6347). The scenario can be […]
The Australian dollar, paired with the US dollar, is on its way to recovery. The current AUDUSD exchange rate stands at 0.6437. This morning, the minutes of the previous RBA’s meeting were published. It is mentioned in the document that the Reserve Bank of Australia considered a new hike in the interest rate by 25 […]
TitleSPX500USD H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price could rise towards our pivot point at 4493, which is a pullback resistance level, aligning with the 61.8% fibo retracement and 61.8% fibo projection. We can expect price to react bearishly, and if it does, it could fall back to the 1st support […]