Latest Market News
Daily Market Outlook, August 14, 2023 Munnelly’s Market Commentary… Asian equity markets encountered downward pressure driven by ongoing economic concerns in China and apprehensions over developer defaults. This backdrop of risk aversion loomed over the region, especially with significant upcoming events such as key global data releases and the imminent release of the latest Federal […]
Daily Market Outlook, August 11, 2023 Munnelly’s Market Commentary… Asian equity markets made little positive progress overnight,influenced by a dovish reaction to post-CPI developments in the United States and concerns surrounding Chinese property developers. Trading activity was also hindered by reduced participation as Japanese market participants were absent due to Mountain Day. The Hang Seng […]
TitleEURJPY H4 | Bearish reversal off 61.8% projection? TypeBearish Reversal Preference:Price is reacting off our pivot point at 159.16, which is slightly below the 61.8% fibo projection. Price could potentially fall to the 1st support at 155.89, which is a multi-swing low support level. Alternative scenario:If price breaks above the pivot, then price could rise […]
GDP Beats Forecasts GBP has seen better demand today on the back of the latest UK GDP data released this morning. A gloomy report from the NIESR yesterday weighed on GBP sentiment ahead of the release. However, with the preliminary Q2 GDP data showing a 0.2% rise, against the 0% result expected, GBP has been […]
BRENT Brent quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI is testing the support line. In these circumstances, the quotes are expected to break the 4/8 (87.50) level and reach the resistance level at 5/8 (90.62). The scenario can be cancelled by a downward breakout of the support […]
TitleGBPUSD H4 I Bounce off Support level? TypeBullish Bounce Preference: Price has just bounced off our pivot of 1.26647 which is an overlap support level. A bounce off from here, price could push to 1st resistance at 1.27076 which is just before the 38.2% Fibo retracement. Alternative scenario:Howe if price breaks below the pivot, it […]