Category: Technial Analysis
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has gained a foothold above the Tenkan-Sen line. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2815 is expected, followed by a rise to 1.2995. An additional signal confirming the rise might be a rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD quotes rebounded from the resistance level at 8/8 (1.0986) on H4, suggesting the potential development of a corrective movement. The RSI has exited the overbought area. In this situation, the price is expected to test the 5/8 (1.0864) level, rebound from it, and rise to the resistance at 8/8 […]
The price of the currency pair EUR/USD has closely approached the resistance level of 1.1000. The asset’s price might eventually rebound from this resistance and drop. In this case, it would be important to follow the candlestick formations next to this level to forecast the upcoming price movements. The price of silver is heading up […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price could fall towards the pivot point of 0.61667 which is a potential breakout level and could drop lower from here; we could see momentum carry price down to its 1st support at 0.61405 which is an overlap support that aligns with the 50.0% Fibonacci retracement level. Alternative scenario:If price […]
TitleGBPUSD H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.2807 an overlap resistance level. A drop from this level could lead the price to fall to 1st support at 1.2761, a pullback support that closes to 23.6% Fibo Alternative scenario: If price breaks above the pivot, it could rise […]
NFP in focus All eyes are on the US Dollar today as traders get ready for the release of February jobs data. On the back of a string of bumper labour reports over recent months, the market is expecting a cooler set of readings today, particularly following a softer-than-forecast ADP number earlier in the week. […]
Bitcoin Holds at Highs Following the order book clearout we saw on Tuesday, Bitcoin prices have been grinding back up towards highs. Weakness in the US Dollar ahead of today’s key labour market updates has been helping bolster sentiment with bulls hoping for a fresh move lower in USD today to help spur Bitcoin on. […]
TitleEURUSD H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.0947, an overlap resistance level. A drop from this level could lead the price to fall to 1st support at 1.0915, a pullback support. Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 1.0962, above […]
June Cut in Focus Yesterday’s ECB meeting was a pivotal moment for FX traders with the bank essentially giving the nod for a June rate cut. Monetary policy was held unchanged yesterday, as expected. However, Lagarde noted that the ECB continued to make good progress towards achieving its inflation target but wanted more confirmation that […]
Daily Market Outlook, March 8, 2024 Munnelly’s Macro Minute… “Dovish Take On Fed & ECB Supports Risk Sentiment ” This morning, Asian equity markets are experiencing an increase after significant gains in US markets yesterday, driven by comments from US Federal Reserve Chair Powell during his testimony to Congress. Powell suggested that the Fed is […]