Category: Technial Analysis
The primary currency pair is holding higher on Thursday. The current EURUSD exchange rate stands at 1.0905. Investors are reacting against the US dollar after extracting valuable insights from the Federal Reserve’s aggressive comments. The Fed’s meeting ended with a neutral outcome. The interest rate was kept at 5.50% per annum, and the tone of […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are going below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. However, the RSI has reached the oversold area. As a result, a rebound from the 2/8 (0.8667) level is expected, followed by a price rise to the resistance at 4/8 (0.8789). The […]
Daily Market Outlook, December 14, 2023 Munnelly’s Market Minute… Asia – Following the Federal Open Market Committee (FOMC) decision to maintain unchanged rates and introduce a dovish adjustment to its statement guidance, most stocks in the Asia-Pacific region experienced gains. The FOMC’s decision to cut its 2024 median dot by more than anticipated, indicating a […]
TitleEURGBP H4 | Bearish reversal? TypeBearish Drop Preference:Price is right below the pivot point at 0.86218, an overlap resistance, and could reverse to 1st support level at 0.85542, multi-swing low support. Alternative scenario:The price could breakout of the pivot line at 0.86214 and rise to the 1st resistance at 0.86595, an overlap resistance level. To […]
EURUSD, “Euro vs US Dollar” EURUSD has escaped a consolidation range upwards, completing a correction wave at 1.0914 on the news. A consolidation range could form under this level today. With an escape from the range downwards, a decline wave to 1.0820 might develop. And if this level also breaks downwards, the potential for trend […]
The Japanese yen is rapidly rising against the US dollar on Thursday. The current USDJPY exchange rate stands at 141.62. A political scandal is unfolding in Japan, fuelling market expectations for a prompt monetary policy revision and providing an easy exit option from the current quantitative easing format. This could alleviate the cancellation of the […]
This week has witnessed two consecutive days of pivotal events shaping the global financial landscape. Yesterday, the Federal Reserve signalled a change in course, leaving interest rates unchanged but hinting at future cuts. Today, the spotlight shifts to the Bank of England and the European Central Bank, both expected to hold rates steady but facing […]
TitleXAUUSD H1 | Bearish reversal? TypeBearish Drop Preference:Price is currently at our pivot point of 2031, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 2008, a pullback support level. Alternative scenario:However, if the price breaks above the pivot, it might […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2605 is expected, followed by a rise to 1.2735. An additional signal confirming the rise might be a rebound from the lower […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The pullback target could be 1.3510. Next, the price might rebound from the resistance level and extend the descending wave. However, the quotes could drop to 1.3425 […]