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Euro Under Pressure The Euro has come under fresh selling pressure today on the back of comments from ECB’s Villeroy. Speaking this morning, Villeroy said that while it was too early to declare victory on inflation, rates in the eurozone should not move higher than they currently are. He went on to say that he […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a decline wave to 1.0882. Today the market has formed a consolidation range around this level and, breaking the range downwards, continues developing the wave to 1.0765. This is a local target. Once this level is reached, a correction link to 1.0882 is not excluded, followed by […]
NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is declining within a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.6165 is expected, followed by a decline to 0.6005. The decline could be additionally supported by a rebound from the upper boundary […]
The enthusiasm for pricing in rate cuts by major central banks appears to have reached its peak. The greenback is surging on Tuesday, fueled by headlines of former US President Donald Trump dominating the first Republican Presidential Candidate runoff for Iowa, solidifying his position as the frontrunner in the Republican primary. The risk-averse atmosphere is […]
TitlePotential Bullish Reversal TypeBullish bounce Preference:Price is falling towards the pivot point of 0.66138 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.66551 which is a pullback resistance level. Alternative scenario: If price breaks below the pivot point, it […]
Daily Market Outlook, January 16, 2024 Munnelly’s Market Minute…“UK Wage Dip May Provide Cover For BoE” Asian stocks faced pressure in the absence of guidance from Wall Street, coupled with rising yields. The Nikkei 225 slipped below the 36k handle due to slightly higher yields and stronger-than-expected PPI data. Hang Seng and Shanghai Comp followed […]