Category: Technial Analysis
TitleNZDUSD H4 | Falling to 61.8% Fibo TypeBearish Drop Preference: The price is falling from our pivot point of 0.615, A reversal from this point could lead the price to drop to the 1st support at 0.6081, an overlap support level that aligns with the 61.6% Fibo retracement. Alternative scenario: However, if the price breaks […]
EURUSD, “Euro vs US Dollar” /strong> EURUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0865 is expected, followed by a decline to 1.0725. An additional signal confirming the decline will be […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 2070.00. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 2005.00 before rising. […]
Title:GER40 H4 | Bearish reversal off pivot point? TypeBearish reversal Preference:The price is reacting off our pivot point at 16446.31, which is a swing high resistance. The price could fall to 1st support level at 15988.32, which is a pull back resistance. Alternative scenario:The price could break the pivot point at 16446.31, which is a […]
TitleEURUSD H4 | Falling to 161.8% Fibo extension? TypeBearish Drop Preference: The price is falling from our pivot point of 1.08342, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.0758, a pullback support level that aligns with the 161.8% Fibo […]
On Tuesday, the Japanese yen is consolidating against the US dollar. The current USDJPY exchange rate stands at 147.12. The USDJPY pair will likely move differently on Friday, possibly dipping below the 146.00 mark. These expectations are tied to the release of US employment data, which could give grounds for further downward pullback of the […]
The Australian dollar, paired with the US dollar, is weakening as part of a correction. The current AUDUSD exchange rate stands at 0.6585. During today’s meeting, the Reserve Bank of Australia decided to keep the interest rate unchanged at 4.35% per annum, in line with the market consensus forecast. In its comments, the RBA noted […]
Daily Market Outlook, December 5, 2023 Munnelly’s Market Commentary… Asia – Stocks saw declines as they followed a mostly negative trend from Wall Street. Major indices on Wall Street were choppy and weighed down due to a rebound in yields ahead of important data releases. In Japan, the Nikkei 225 continued to weaken and fell […]
OPEC News Lacks Bite Crude oil prices remain mostly muted as we move through the European morning on Tuesday. Just days on from OPEC+ announcing an extension of its current production cuts, the market has failed to find any upside momentum with crude futures still hugging support at the 72.61 mark. Last week’s meeting saw […]
European currencies experienced a continued decline on Monday, with EURUSD finding support around 1.0850, and GBPUSD sliding from its recent peak of 1.27 to 1.2650. Both currency pairs have been consolidating near their local highs since the beginning of last week as the wave of selling the dollar started to taper off. This shift was […]