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TitleAUDUSD H4 | Bearish reversal off 61.8% fibo projection? TypeBearish Reversal Preference:Price could potentially reject off our pivot point at 0.6587, which is a swing high resistance level, slightly above the 61.8% fibo projection and 127.2% fibo extension. Price could fall to the 1st support at 0.6541, which is a pullback support level . Alternative […]

Daily Market Outlook, November 20, 2023 Munnelly’s Market Commentary…  Asia – Most Asia-Pacific stocks were positive, but gains were limited due to a lack of fresh catalysts over the weekend. Investors are waiting for key risk events this week, including the release of FOMC minutes on Tuesday. Nikkei 225 swung between gains and losses, reaching […]

TitleUSDCAD H4 | Dropping to swing-low support TypeBullish Bounce Preference:Price is falling towards the pivot point of 1.36663 which is a swing-low support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.37707 which is an overlap resistance that aligns close to the 61.8% Fibonacci […]

EURUSD, “Euro vs US Dollar” EURUSD quotes on H4 and the RSI are in their respective overbought areas. In this situation, a test of +2/8 (1.0986) is expected, followed by a rebound from it and a price decline to the support level of 8/8 (1.0742). The scenario can be cancelled by rising above the resistance […]

EURUSD, “Euro vs US Dollar” EURUSD has broken the upper boundary of the consolidation range, offering the market an extension of the wave to 1.0928. Next, a link of decline to 1.0893 is not excluded, followed by a rise to 1.0960. After the price reaches this level, a decline wave to 1.0823 could start. GBPUSD, […]

Crude Rallying on USD Weakness Crude oil is starting the week in a healthier fashion with the crude futures extending the gains seen on Friday through early trading today.  The main driver behind the move is the continued weakness we’re seeing in the US Dollar. With the greenback under heavy selling pressure as traders move […]