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EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0675 is expected, followed by a rise to 1.0815. An additional signal confirming the rise will be a rebound from the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the resistance at 1.0740. However, the price might pull back to 1.0650 and continue the uptrend upon testing the support. USDJPY, “US Dollar […]
Bitcoin Bites Back After some time out of the limelight, Bitcoin has been grabbing attention again recently with some mouth-watering volatility. The leading cryptocurrency has seen impressive gains over 2023, encouraging bulls that we might see a return to the sort of upside we saw in late 2020/early 2021. There are a number of factors […]
Recession Risks Loom The British Pound is seeing further selling today on the back of the latest UK growth data released this morning. The data, while a little better than forecast, pointed to anaemic growth in the UK and has done little to pushback against recession risks. The monthly GDP reading was seen at 0.2%, […]
Daily Market Outlook, November 10, 2023 Munnelly’s Market Commentary… Asia – Stocks across the board faced a widespread decline, echoing the negative sentiment emanating from Wall Street that rippled through the APAC region. Multiple factors contributed to this downturn, including a lacklustre 30-year US auction and Federal Reserve Chair Powell’s hawkish stance. In the APAC […]
TitleGBPNZD H4 | Heading into resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 2.07946 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 2.06326 which is a pullback support […]