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Crude Bouncing Crude oil prices are rising today and are on course to post their fourth consecutive session in the green. However, the recovery looks tepid and bullish momentum looks weak against the scale of the declines we’ve seen in recent months. Crude futures are down almost 30% from the YTD highs and look vulnerable […]
The USD corrective uptrend finally ran out of steam on Tuesday, as attempts to break above the 104.20 horizontal resistance level late last week and Monday failed. Buyers folded their hands ahead of the release of the US CPI for November and the FOMC meeting tomorrow: Despite the decline, the price remains in an upward […]
The primary currency pair on Tuesday is stuck in place. The current EURUSD exchange rate stands at 1.0765. Today marks the beginning of a two-day meeting of the Federal Reserve System. The decision on the interest rate will be neutral – the rate will remain at 5.50% per annum. However, all attention will be focused […]
EURUSD, “Euro vs US Dollar” EURUSD continues developing a consolidation range around 1.0770. After an escape upwards, a correction link to 1.0800 might follow. With an escape downwards, the potential for a decline wave to 1.0705 could open. Provided this level also breaks, the trend might continue to 1.0600. This is the first target. GBPUSD, […]
TitleGBPUSD H4 | Bearish reversal? TypeBearish Reversal Preference:The price is rising toward our pivot point of 1.25995, which serves as an overlap resistance level aligning with the 50% Fibonacci. A reversal from this point could lead the price to drop to the 1st support at 1.1.25048 an overlapping support level. Alternative scenario:However, if the price […]
Daily Market Outlook, December 12, 2023 Munnelly’s Market Minute… Asia – Most Asia-Pacific stocks were positive following gains on Wall Street. The Nikkei 225 surged initially but steadily gave up nearly all of its gains as the effects of a firmer currency seeped through. Hang Seng and Shanghai Comp. were initially underpinned by China’s Central […]