News
US Data Flow Continues Following a hotter-than-forecast CPI report earlier in the week, traders are today bracing for the next slew of US data. Retail sales will be the key release to watch, along with Empire Fed and Philly Fed manufacturing index readings and unemployment claims. Given the data we saw on Tuesday the subsequent […]
The Japanese yen, paired with the US dollar, remains weak. The current USDJPY exchange rate stands at 150.14. While JPY quotes have marginally rebounded from their lows, their performance is far from impressive. Market attention is heavily focused on the state of the Japanese economy, with today’s statistics confirming the economy’s downturn into recession. The […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the overbought area on H4. The RSI has breached the support line. As a result, in this situation, a downward breakout of +1/8 (0.8850) is expected, followed by a decline to the support at 7/8 (0.8728). The scenario could be cancelled by a rise above […]
Daily Market Outlook, February 15, 2024 Munnelly’s Market Minute… “UK In Technical Recession, BoE Governor Optimistic” Asian equities, particularly chip stocks, drove the rise in Asian markets on Thursday. The Nikkei reached a new 34-year peak, while the dollar paused near a three-month high as investors evaluate the potential timing of the Federal Reserve’s easing […]
TitleGBPUSD H1 | Bearish reversal TypeBearish Reversal Preference:Price is rising toward the pivot point of 1.2580 which aligns with the 61.8% Fibo retracement, A reverse from this level could lead the price to fall to 1st support at 1.2520, a swing low support level Alternative scenario:If price breaks above the pivot, it could rise to […]
EURUSD, “Euro vs US Dollar” EURUSD has reached the estimated target of the corrective wave at 1.0734. A consolidation range is expected to form under this level today. With a downward escape from the range, the potential for a wave to 1.0710 could open, from where the decline wave might extend to 1.0685. With an […]