Category: Technial Analysis
Daily Trade Setups GBPAUD CADJPY & AUDJPY To access today’s action analysis click here! Source: Tickmill
The Pound Sterling faced a decline as investor sentiment turned cautious in anticipation of a bustling week. The GBP/USD pair experienced a gradual fall, with all eyes on the forthcoming interest rate decisions from both the Bank of England (BoE) and the Federal Reserve. These decisions, widely expected to maintain rates unchanged for the fourth […]
The Japanese yen, paired with the US dollar, slightly strengthened by Tuesday. The current USDJPY exchange rate stands at 147.40. might reconsider its large-scale stimulus program in this scenario. This morning saw the release of stronger-than-expected statistics on the employment market in Japan, reinforcing market expectations for the future tightening of monetary conditions by the […]
The Australian dollar, paired with the US dollar, has slightly increased. The current AUDUSD exchange rate stands at 0.6610. In December, retail sales in Australia declined more than expected, by 2.7% m/m instead of the anticipated 1.7%. The data represents the weakest performance for the year. Following the release of the statistics, Australian bonds continued […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of the 4/8 (0.6591) level is expected, followed by a decline to the support at 3/8 (0.6530). The scenario could […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a decline wave to 1.0795. Today the market is forming a correction wave to 1.0850. Once this level is reached, the decline wave is expected to continue to 1.0790. This is a local target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed a […]
Daily Market Outlook, January 29, 2024 Munnelly’s Market Minute…“China Winds Up Evergrande, Middle East Tensions Rise” Over the weekend, news emerged that China’s securities regulator would halt the lending of certain stocks for short selling starting today. Initially, this led to a rise in equities across China and Asia. However, optimism quickly faded, and stocks […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has found a foothold under the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3435 is expected, followed by a decline to 1.3255. An additional signal confirming the […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 1.3445 level. Next, the price could rebound from this level and extend the downtrend. However, the quotes might drop to 1.3355 […]
UK Shop Prices Fall British consumers will no doubt be cheering the latest data out of the UK today. The BRC shop price index was seen falling to 2.9% in January, down from 4.3% last month. At this level, shop price inflation is at its lowest point in 18-months. The BRC noted that the decline […]