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Daily Market Outlook, February 13, 2024 Munnelly’s Market Minute…“Nikkei Multi Decade Highs, US CPI Next” Equities in the Asia-Pacific region saw a notable uptick, particularly in Japan’s Nikkei 225, which surged nearly 3% fueled by gains in the tech sector. However, European and US equity futures display a more mixed sentiment ahead of the crucial […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0770 is expected, followed by a decline to 1.0665. An additional signal confirming the decline could […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be the resistance at 1.0830. However, the price could drop to 1.0720 and extend the downtrend without testing the resistance. […]
TitleDAX H4 | Reverse to support level TypeBearish Reversal Preference:The price could rise to pivot at 17066.26, the swing-high resistance, from there it could reverse to the 1st support at 16874.83, the pullback support. Alternative scenario:It might break out of pivot and rise to the 1st resistance at 17133.66, which aligns with the 127.2% Fibonacci […]
US CPI Up Next All eyes will be on the latest US inflation due to be released shortly today. Expectations are primed for a fall in annualised headline inflation to 2.9% from 3.4%. In light of the current focus on whether the Fed is likely to ease rates in the coming months, today’s data will […]
The Australian dollar, paired with the US dollar, continues to hover. The current AUDUSD exchange rate stands at 0.6520. According to today’s data, business conditions in Australia have improved, with consumer confidence reaching a 20-month high. January’s NAB business environment index came in at 6 points, below the long-term average. Business confidence improved, reaching 1 […]