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TitleEURJPY H4 | Potential bullish bounce TypeBullish Bounce Preference:The price could reverse to pivot at 160.242, the pullback support, from there price could bounce off pivot and rise to 1st resistance at 161.761, the swing-high resistance. Alternative scenario:Price could potentially break out of the pivot and fall to 1st support at 158.963, the swing-low support. […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has found a foothold under the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2630 is expected, followed by a decline to 1.2480. An additional signal confirming […]

The Japanese yen, paired with the US dollar, has significantly declined. The current USDJPY exchange rate stands at 150.50. What led to this development? The US released surprisingly robust inflation figures for January. This diminished the likelihood of the Federal Reserve’s early interest rate cut this year, bolstering the USD. Consequently, the dollar exerted pressure […]

TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.64815 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64155 which is an overlap support level. Alternative scenario: If […]

Daily Market Outlook, February 14, 2024 Munnelly’s Market Minute…“US CPI Upside Surprise Leads To Selloff” Most Asian equity indices are trading in negative territory, reflecting the downturn observed in the United States.The significant change in Federal Reserve expectations, first triggered by a strong U.S. jobs report and then reinforced by Tuesday’s unexpected increase in inflation, […]

TitleGBPJPY H4 | Bearish reversal TypeBearish Reversal Preference:The price could rise to the pivot at 188.776, the multi-swing high resistance, from the pivot it could potentially reverse to the 1st support at 187.505, the overlap support. Alternative scenario: The price could rise and break out of pivot and continue rising to 1st resistance at 189.447, […]