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The price of Bitcoin is heading up. However, the asset will have to face resistance at two levels: 45500 and 49000. The asset’s price might potentially rebound from these levels and drop. Yet it would be wise to follow the candlestick formations to forecast what is about to come next. Should the price of Bitcoin […]

Alphabet Sinks Despite Earnings Beat The harsher nuances of equities trading confronted tech bulls yesterday. Both Alphabet and Microsoft saw their stock prices plunging despite better-than-forecast headline results. Alphabet bore the brunt of the misery with the stock now down around 7% from the YTD highs seen earlier this week. On the numbers front, Alphabet […]

Fed in Focus All eyes today are on the US Dollar as the Fed prepares to deliver its January FOMC decision. While no policy change is expected this time around, traders will be carefully scouting the contents of the statement and post-meeting presser as they look to gauge when the Fed is likely to ease […]

The primary currency pair is decreasing on Wednesday. The current EURUSD exchange rate stands at 1.0820. This evening, the US Federal Reserve’s meeting will conclude. The regulator will decide on the interest rate and likely provide indications regarding the timing of the first reduction in loan costs in this cycle. The interest rate will remain […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, a test of 7/8 (148.43) is expected, followed by a breakout of this level and a rise to the resistance at […]

Daily Market Outlook, January 31, 2024 Munnelly’s Market Minute…“Focus Firmly On FOMC” Asian markets were mostly quiet as a result of numerous earnings and important data releases at the end of the month. Initially, the Nikkei 225 declined after disappointing Industrial Production and Retail Sales data, and was also affected by hawkish comments from the […]