Category: Technial Analysis

The Japanese yen, paired with the US dollar, is constantly changing its trajectory. The current USDJPY exchange rate stands at 150.16. Today, the market focuses on discussions about currency interventions in Japan. On Tuesday, Finance Ministry spokesman Atsushi Mimura noted that the Japanese authorities are in ongoing dialogue with their foreign counterparts and the Central […]

The Australian dollar is strengthening against the US dollar. The current AUDUSD exchange rate stands at 0.6531. China has resumed its everyday activities, giving Australia more reasons to react. This morning, China reduced its benchmark mortgage rate to bolster the housing market, which had previously experienced a decline. Capital markets responded positively to the news, […]

Daily Market Outlook, February 20, 2024 Munnelly’s Market Minute… “Sentiment Shaky As US Comes Back Online” Investor confidence has been unsettled by the Asia session, as U.S. equity futures falter and Treasury yields increase. Although China has made substantial cuts to mortgage rates, the mainland stock markets continue to struggle with no signs of recovery. […]

TitleEURJPY H4 | Bearish drop TypeBearish Drop Preference:The price is trading at pivot at 161.839, the swing-high resistance. Price could reverse from the pivot and fall to the 1st support at 160.166, the overlap support. Alternative scenario:Alternatively, price could break out of the pivot and rise to the 1st resistance at 162.822, the overlap resistance. […]

TitleGBPUSD M15 I Bearish Drop TypeBearish Drop Preference: Price is currently at the pivot point of 1.2612, A reverse from this level could lead the price to fall to 1st support at 1.2555, a multi-swing low support level. Alternative scenario:If price bounces the pivot, it could rise to 1st resistance at 1.2658. above swing high […]

Gold continued its triumphant streak for the third consecutive day on Monday. From a technical analysis perspective, buyers have not yet reached any specific target, but overall, they are approaching it. For instance, within the current bearish corridor, the area around $2040 appears to be an attractive target, where the upper bound of the channel […]

The primary currency pair keeps balance on Monday. The current EURUSD exchange rate stands at 1.0775. This morning, everything is quiet. The US dollar is stable: the country is on holiday because of Presidents’ Day. Intraday activity is expected to be diminished on the whole market spectrum. Last week’s data demonstrated that the producer price […]

Fresh Shipping Crude prices are sitting just below Friday’s highs as we start the new week. Indeed, we’re seeing some light selling across the European morning on Monday, despite news of fresh attacks on shipping routes in the Middle East. The UKMTO noted that it received reports overnight of a UK registered ship being hit […]

Daily Market Outlook, February 19, 2024 Munnelly’s Market Minute… “Quiet Start, With US Offline For Presidents Day” China’s markets did not show the anticipated enthusiasm after the break, with only modest gains in stocks so far. During the Lunar New Year holiday, tourism revenues surged by 47% compared to the previous year, with over 61 […]

EURUSD, “Euro vs US Dollar” EURUSD quotes have risen above 0/8 (1.0681), escaping the oversold area. The RSI is testing the resistance line. In this situation, the quotes are expected to grow above the 1/8 (1.0803) level, subsequently reaching the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout of the […]