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EURUSD, “Euro vs US Dollar” EURUSD is pushing off the upper boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower channel boundary at 1.0770 is expected, followed by a decline to 1.0605. An additional signal confirming the decline will be a rebound […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3635. Next, the price could break the resistance and continue the uptrend. However, the quotes might correct to 1.3520 before rising. […]
Daily Market Outlook, September 13, 2023 Munnelly’s Market Commentary… Asian equity markets faced downward pressure, influenced by the recent tech-related declines on Wall Street, driven by post-Apple event disappointment. Additionally, market participants exhibited caution as they awaited the release of upcoming U.S. Consumer Price Index (CPI) data, which is of significant interest to global financial […]
TitleCHFJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference: Price could rise towards the pivot point of 165.722 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 164.113 which is a multiple swing-low support […]
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TitleEURJPY H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price is approaching the pivot point at 157.83, which is an overlap resistance level and slightly above the 61.8% fibo retracement and 78.6% fibo projection. We can expect price to have a bearish reaction off the pivot point and fall to the 1st support […]