Category: Technial Analysis
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1.3300. Next, the price could break the level and extend the downtrend. However, the quotes might correct to 1.3440 before the […]
Silver rebounded from the downtrend. The asset’s price is now heading south. Currently, the price of silver is forming a flag. Should the silver break this flag, it might eventually test the supporting zone formed between levels 22.00 and 22.30 and located next to the weekly uptrend. Silver is likely to rebound from the crossing […]
TitleEURUSD M15 | Bearish reversal? TypeBearish Drop Preference:Price has just reacted off our pivot point of 1.0977, which serves as a multi swing high resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.0938, an overlap support level. Alternative scenario:If the price breaks above the pivot, […]
The currency market and the US bond market are in a bit of a pickle, with prices moving in tight ranges or resembling fading oscillations. It seems like all the hot info that came out recently is already baked into the prices: Hopes for figuring out the next trend are pinned on today’s US inflation […]
Daily Market Outlook, January 11, 2024 Munnelly’s Market Minute…“Markets Buoyant Ahead of US CPI Data” Asian stocks followed the upward trend seen in the US despite the absence of significant driving factors, as markets anticipate the release of US CPI data. The Nikkei 225 continued its impressive rally, surpassing 35K for the first time since […]
The Australian dollar, paired with the US dollar, continues its recovery. The current AUDUSD quote is 0.6719. The RBA’s forecast regarding the prospects of the Australian dollar looks rather pessimistic. The upward reversal of AUD at the beginning of the year has not changed anything. The RBA believes that if the US Federal Reserve starts […]
The British pound sterling continues to appreciate against the US dollar. The current GBPUSD quote stands at 1.2765. The pound is gaining strength against the market signals. Bank of England governor Andrew Bailey expects the recent mortgage cost reduction will persist. As he mentioned yesterday, significant interest rate changes have occurred in the market over […]
Aussie CPI Falls Again AUDUSD is testing key support today on the back of a weaker-than-forecast set of Aussie CPI figures overnight. Domestic CPI was seen printing 4.3%, year-over-year, last month, down from 4.9% prior and below the 4.4% the market was looking for. RBA tightening expectations have weakened materially in recent months alongside the […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes have broken the 200-day Moving Average on H4 and are currently above it, which indicates a possible development of an uptrend. However, a divergence has formed on the RSI, signaling about a price decline. As a result, in this situation, a downward breakout of the 5/8 (146.09) […]
EURUSD, “Euro vs US Dollar” The EURUSD pair has broken the 1.0966 level upwards and continues forming a growth structure to 1.1000. Once this level is reached, a decline link to 1.0966 is not excluded (a test from above). Right after that, another growth structure to 1.1010 could form. Next, a new decline wave to […]