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EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the resistance level on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target could be the support at 1.0820. However, the price could rise to 1.0900 and maintain its upward momentum without testing the […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a breakout of 2/8 (0.6530) is expected, followed by a price decline to the support at 1/8 (0.6500). The scenario might be cancelled […]
Daily Market Outlook, February 27, 2024 Munnelly’s Market Minute… “US Budget Negotiations In The Spotlight” Asian Equity Markets: Most markets in the region are higher, with Japan experiencing a smaller-than-expected fall in annual inflation, potentially signaling a rise in interest rates. UK Economy: The UK’s BRC shop price index indicates a monthly fall in food […]
TitleApproaching Pullback Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 150.354 which is a pullback support that aligns with the 100.0% Fibonacci projection level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 150.607 which is a pullback resistance level. Alternative scenario:If price […]
The British pound sterling, paired with the US dollar, continues its rise. The current GBPUSD exchange rate stands at 1.2682. According to fresh statistics, inflation in UK stores has dropped to a two-year low. Observations by the BRC indicate that the index rose by 2.5% in February, marking the lowest figure since March 2022. Simultaneously, […]
EURUSD, “Euro vs US Dollar” EURUSD has found a foothold above the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0835 is expected, followed by a rise to 1.0945. An additional signal confirming the rise might be a rebound […]