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EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to the 1.0955 level and a link of correction to the 1.1018 level. Today another link of decline to 1.0950 could develop. A wide consolidation range is forming around 1.0999. With an upward breakout, a correction could continue to the 1.1122 level. A […]

Daily Market Outlook, August 2, 2023 Munnelly’s Market Commentary…  Asian equity markets are trading lower, following a negative lead from Wall Street. The sentiment has been dampened by higher yields and weak economic data. One of the factors affecting the market is Fitch’s credit rating downgrade for the United States from AAA to AA+. The […]

TitleAUDUSD H4 | Bearish momentum TypeBearish Reversal Preference: Price has reversed from the pivot point of 0.67351 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level; we could see momentum carry price down to its 1st support at 0.66198 which is an overlap support that aligns with the 61.8% Fibonacci […]

TitleEURUSD H4 | Bounce off Support level? TypeBullish Bounce Preference:Price is currently at our pivot of 1.09792 which is an overlap support that aligns with 61.8% Fibo retracement, A bounce off from here, price could push to 1st resistance at 1.10342 which is an overlap resistance level. Alternative scenario:However, if price breaks below the pivot, […]

Daily Market Outlook, August 1, 2023 Munnelly’s Market Commentary…  Asian equity markets showed a mostly positive trend, taking cues from Wall Street’s S&P 500, which marked its 5th consecutive monthly gain. However, market participants were also digesting disappointing Chinese Caixin Manufacturing PMI data and the Reserve Bank of Australia’s (RBA) decision to keep rates unchanged. […]

EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to the 1.0990 level. At the moment, a consolidation range is forming around this level. A downward breakout will open the potential for a decline to 1.0940. With an upward breakout, a wave of growth to the 1.1033 level could develop with the […]