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TitleEURUSD H1 | Bearish reversal TypeBullish Breakout Preference:Price is rising toward the pivot point of 1.0790, a pullback resistance that aligns with the 38.2. A reverse from this level could lead the price to fall to 1st support at 1.2724, a swing low support level Alternative scenario:If the price breaks above the pivot, it could […]
TitleGBPJPY H4 | Potential bullish breakout TypeBullish Breakout Preference: The price could continue to rise and break out of pivot at 187.493, the overlap resistance. From there it could rise to the 1st resistance at 188.317, the multi-swing high resistance that aligns with the 127.2% Fibonacci retracement. Alternative scenario:It might potentially reverse to the 1st […]
Dollar Correction The US Dollar has softened into the middle of the week following a breakout move in the DXY which saw the index trading up to its highest levels since November earlier this week. Speaking yesterday, Fed’s Mester signalled that the Fed will likely feel comfortable to begin cutting rates later this year if […]
Daily Market Outlook, February 7, 2024 Munnelly’s Market Minute…“FedSpeakers On Deck, With A Scant Data Docket” Asian stocks were mostly positive due to a decline in global yields and further Chinese support efforts. Nikkei 225 was indecisive due to a slew of earnings and with the BoJ reportedly on track for a policy shift by […]
The Japanese yen, paired with the US dollar, is gradually reaching equilibrium. The current USDJPY exchange rate stands at 147.97. At the beginning of the week, the yen hit a two-month low against the USD after the US dollar began to rally. This development occurred as investors reassessed prospects for the Federal Reserve’s future actions. […]
The primary currency pair on Wednesday appears more assured compared to yesterday. The current EURUSD exchange rate stands at 1.0763. While the US dollar continues to hover near its three-month highs, its aggressive stance has softened. With a nearly 1.5% decrease over two days, it is time to pause. Declining yields on US treasury bonds […]