Category: Technial Analysis
TitleGBPJPY H4 | Bearish reversal TypeBearish Breakout Preference:The price could rise to the 1st resistance at 188.283 the multi-swing high resistance which is a double top pattern, before pulling back to the pivot point at 186.283, the overlap support. From there it could reverse to the 1st support at 184.043, the pullback support. Alternative scenario: […]
Daily Market Outlook, January 18, 2024 Munnelly’s Market Minute…“ECB Minutes Eyed, Lagarde Speaks Later” Asian markets had mixed trading, with most markets showing negative trends after central bank rate cut expectations were reversed. The Nikkei 225 fluctuated between gains and losses, influenced by recent currency weakness and disappointing machinery orders. Japan is set to release […]
The Australian dollar, paired with the US dollar, has temporarily ceased its descent. The current AUDUSD exchange rate stands at 0.6558. Australia presented a wealth of statistics on Thursday morning. The unemployment rate in December remained unchanged at 3.9%. However, the proportion of the economically active population has dropped significantly, from 67.3% to 66.8%. The […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the broken resistance area. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0925 is expected, followed by a decline to 1.0745. The decline could be additionally supported by a rebound from the […]
TitlePotential Bullish Breakout TypeBullish Breakout Preference:Price is rising towards the pivot point of 147.588 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level and could potentially break above this level; we could see momentum carry price up to its 1st resistance at 148.546 which is a pullback resistance level. Alternative scenario:If […]
UK CPI Rises UK stocks have come under heavy selling pressure over early European trading on Wednesday. While the market has been in corrective mode since the late December highs, selling was amplified on Wednesday as traders reacted to the latest UK inflation data. Annualised headline CPI was seen rising back up to 4% last […]
Waller Says Fed Relaxed on Rate Cut Timing The US Dollar continues to make ground across early 2024 trading as Fed members pushback against those calling for imminent rate cuts in the US. Speaking yesterday, Fed’s Waller reiterated comments made by chairman Powell in December noting that, while rate cuts were likely this year, the […]
Daily Market Outlook, January 17, 2024 Munnelly’s Market Minute…“UK Inflation Uptick Sees Sterling Higher” Asian stocks were under pressure due to the recent rise in yields and reduced expectations of Fed rate cuts. The Nikkei 225 initially rose due to a weaker currency but later dropped from three-decade highs as it succumbed to the risk-off […]
The Japanese yen declined against the US dollar on Wednesday. The current USDJPY exchange rate stands at 147.44. Today’s yen values are the lowest since 4 December of last year. The Japanese national currency is under pressure from various sides, including a robust US dollar and international factors influencing its position. The yield on US […]
The Australian dollar, in the pair with the US dollar, is accelerating its decline. The current AUDUSD exchange rate stands at 0.6564. Currently, the AUD is hovering near the lows of 13 December 2023. The Reserve Bank of Australia considers the current interest rate value of 4.35% per annum to be the peak. Earlier, there […]