Category: Technial Analysis
TitleGBPJPY H4 | Bearish reversal TypeBearish Reversal Preference:The price could rise to the pivot at 188.776, the multi-swing high resistance, from the pivot it could potentially reverse to the 1st support at 187.505, the overlap support. Alternative scenario: The price could rise and break out of pivot and continue rising to 1st resistance at 189.447, […]
Wages Rise, Unemployment Falls The British Pound is rallying today on the back of the latest economic data out of the UK, released this morning. The UK unemployment rate was seen falling back to 3.8% in the three months to December 2023. This marks a decline from the prior reading of 4.2% and was below […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has formed a decline wave to 1.0755. Currently, the market is forming a narrow consolidation range around 1.0765. An escape from the range downwards to 1.0744 is expected today. And if this level also breaks downwards, the potential for a wave to 1.0725 might open, from where […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a test of 2/8 (0.6469) is expected, followed by a breakout of this level and a subsequent decline to the support at […]
TitleEURUSD H4 | Bearish Breakout TypeBearish Drop Preference:Price is falling toward the pivot point of 1.0761 which is a multi-swing low support level. A breakout from this level price could continue to fall to 1st support at 1.0727, a swing low support level Alternative scenario:If price bounces the pivot, it could ride to 1st resistance […]
Daily Market Outlook, February 13, 2024 Munnelly’s Market Minute…“Nikkei Multi Decade Highs, US CPI Next” Equities in the Asia-Pacific region saw a notable uptick, particularly in Japan’s Nikkei 225, which surged nearly 3% fueled by gains in the tech sector. However, European and US equity futures display a more mixed sentiment ahead of the crucial […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0770 is expected, followed by a decline to 1.0665. An additional signal confirming the decline could […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be the resistance at 1.0830. However, the price could drop to 1.0720 and extend the downtrend without testing the resistance. […]
TitleDAX H4 | Reverse to support level TypeBearish Reversal Preference:The price could rise to pivot at 17066.26, the swing-high resistance, from there it could reverse to the 1st support at 16874.83, the pullback support. Alternative scenario:It might break out of pivot and rise to the 1st resistance at 17133.66, which aligns with the 127.2% Fibonacci […]
US CPI Up Next All eyes will be on the latest US inflation due to be released shortly today. Expectations are primed for a fall in annualised headline inflation to 2.9% from 3.4%. In light of the current focus on whether the Fed is likely to ease rates in the coming months, today’s data will […]