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TitleEURUSD H4 | Potential bullish reversal? TypeBullish Bounce Preference: The price has just bounced off the pivot point at 1.06773, which is a multi-swing low support level. A bounce from this level could lead the price to rally toward the 1st resistance at 1.07276, which is a pullback resistance. Alternative scenario:However, if the price breaks […]

Daily Market Outlook, September 20, 2023 Munnelly’s Market Commentary…  Asian equity markets generally faced a downward trend as investors adopted a cautious stance ahead of forthcoming central bank policy announcements, including the Federal Open Market Committee (FOMC) rate decision and dot plot projections. Nikkei 225 weakened as the latest trade data indicated that Japanese exports […]

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EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of growth to 1.0716. Today the market is forming a wave of decline to 1.0660. After the price reaches this level, a link of correction to 1.0690 could follow. Next, a decline to 1.0635 might develop, from where the trend could continue to 1.0606. GBPUSD, […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are in the overbought area on H4. The RSI has broken the support line. In this situation, a downward rebound from +1/8 (147.81) is expected, followed by a decline to the support at 8/8 (146.87). The scenario can be cancelled by rising above the resistance at +2/8 […]

FOMC Up Next Price action in the US Dollar has been rather muted so far this week as traders prepare for the September FOMC later today. The event is widely expected to see the Fed holding rates unchanged while reaffirming its message that further rate hikes might still be appropriate, depending on the path of […]