News

EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a decline wave to 1.0795. Today the market is forming a correction wave to 1.0850. Once this level is reached, the decline wave is expected to continue to 1.0790. This is a local target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed a […]

Daily Market Outlook, January 29, 2024 Munnelly’s Market Minute…“China Winds Up Evergrande, Middle East Tensions Rise” Over the weekend, news emerged that China’s securities regulator would halt the lending of certain stocks for short selling starting today. Initially, this led to a rise in equities across China and Asia. However, optimism quickly faded, and stocks […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has found a foothold under the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3435 is expected, followed by a decline to 1.3255. An additional signal confirming the […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 1.3445 level. Next, the price could rebound from this level and extend the downtrend. However, the quotes might drop to 1.3355 […]

UK Shop Prices Fall British consumers will no doubt be cheering the latest data out of the UK today. The BRC shop price index was seen falling to 2.9% in January, down from 4.3% last month. At this level, shop price inflation is at its lowest point in 18-months. The BRC noted that the decline […]

Daily Market Outlook, January 30, 2024 Munnelly’s Market Minute…“Eurozone Q4 GDP Eyed” Asian markets saw a mixed trading session with the momentum from Wall St’s record highs offset by weakness in China. The Nikkei 225 initially rose after a surprise drop in Japan’s unemployment rate, but later gave up most of its gains. This evening, […]