Category: Technial Analysis
EURUSD, “Euro vs US Dollar” The EURUSD pair received support at the 1.0732 level. By now, a growth wave to 1.0787 has been performed. Today the market is forming a consolidation range under this level. With an escape upwards, the correction could extend to 1.0816. Once this level is reached, a decline to 1.0774 might […]
TitleEURGBP Day | Bullish breakout TypeBullish Breakout Preference:The price could breakout of pivot at 0.85528, the overlap resistance, and rise to the 1st resistance at 0.86106, also an overlap resistance and it aligns with the 50% Fibonacci retracement. Alternative scenario:Price might reverse and fall to the 1st support at 0.85036, the multi-swing low support. To […]
TitleEURUSD M15 I Bearish reversal TypeBearish Drop Preference:Price is currently at the pivot point of 1.0777, A reverse from this level could lead the price to fall to 1st support at 1.0733, an overlap support level. Alternative scenario: If price bounces the pivot, it could rise to 1st resistance at 1.0810. above the swing high […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 2035.00. Upon testing the resistance, the price might rebound from the level and continue developing the downtrend. However, the quotes could drop to 2010.00 without […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after a rebound from the support. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2630 is expected, followed by a decline to 1.2465. An additional signal confirming the decline could be […]
Ethereum is following Bitcoin. Currently, the price of this asset is heading up. It broke a very important resistance level of 2716.50. The asset’s price might potentially hit the level of 3000. Of course, it might also drop, dive under the broken resistance, undergo correction, and approach the level of 2135. However, it looks like […]
TitleEURJPY Day | Bearish reversal TypeBearish Reversal Preference:The price could reverse from pivot at 161.804, the overlap resistance. It could fall to the 1st support at 157.99, the overlap support. Alternative scenario:It might breakout of pivot and rise to the 1st resistance at 164.207, the swing-high resistance. To discuss this trading idea, head over to […]
TitleUS30 H4 | Potential bullish bounce TypeBullish Bounce Preference:The current price could reverse to the pivot at 38300.72, the overlap support that aligns with the 38.2% Fibonacci retracement. Price could bounce off the pivot and rise to the 1st resistance at 38884.06, the swing-high resistance. Alternative scenario: The price might continue to trend down and […]
Daily Market Outlook, February 16, 2024 Munnelly’s Market Minute… “Nikkei Heading For All Time Highs WIth Japan In Recession” The Nikkei reached a 34-year high, just shy of its all-time high of 38,957.44 points set on Dec. 29, 1989. The stock market in Asia has surged by 15% this year, following a 28% rally in […]
Gold Bounces on Weak USD The move lower in USD over the last 24 hours has helped gold prices bounce somewhat. Gold futures were seen falling to fresh lows on the year this week as hotter-than-forecast US inflation drives the Dollar higher. However, with yesterday’s retail sales seen plunging into negative territory last month, the […]