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EURUSD, “Euro vs US Dollar” EURUSD has completed a correction at the 1.1011 level and started to develop another wave of decline. Today an impulse of decline to 1.0975 has been completed, and a consolidation range has formed around this level. A downward breakout will open the potential for a downward movement to the 1.0940 […]
Daily Market Outlook, August 8, 2023 Munnelly’s Market Commentary… Asian equity markets saw a varied trading session. The initial sense of positivity driven by the favourable performance on Wall Street was dampened as Chinese markets became active participants. Simultaneously, the region had to process disappointing trade data from China. At the start, the Nikkei 225 […]
TitleEURUSD H4 | Falling to 78.6% Fibo support TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.09221 which is an overlap support that aligns with the 78.60% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.10349 which is an […]
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Daily Market Outlook, August 7, 2023 Munnelly’s Market Commentary… Asian equity markets started the week on a mostly negative note, influenced by last Friday’s late decline in Wall Street. The drop in Apple shares post-earnings and reactions to weaker-than-expected Non-Farm Payrolls and higher US hourly earnings contributed to the subdued mood in the region. In […]
TitleUSDCAD Day | Potential bearish reversal? TypeBearish Reversal Preference:Price is currently at our pivot point 1.33807 which is an overlap resistance that aligns with 50% Fibo retracement. if it reverses from here, price could fall to 1st support at 1.32837 which is a pullback support level Alternative scenario:However, if price breaks above the pivot, it […]