Category: Technial Analysis
TitleGBP/USD Day I Potential bullish bounce? TypeBullish Bounce Preference: Wait for price to pullback at our pivot point of 1.2634, which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 1.2814, a swing-high resistance. Alternative scenario:However, if the price breaks below the […]
US GDP in Focus The first look at Q3 US GDP rolls in today and markets are looking for a 5% reading, up from 4.9% in the prior quarter. On the back of the volatility we’ve seen in USD this week, and the constant debate around the Fed outlook, the data is drawing plenty of […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument could go by the reversal signal in a corrective wave. The pullback target could be the support level at 1.0950. However, the quotes might rise to 1.1050 and continue their upward movement without […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes and the RSI have reached the oversold areas on H4. In this situation, the quotes are expected to rebound from the 0/8 (146.87) level and rise to the resistance at 2/8 (148.43). The scenario can be cancelled if they break the 0/8 (146.87) level downwards. In this […]
TitleEUR/USD H4 I Falling to support level? TypeBearish Drop Preference: The price is falling from our pivot point of 1.099, A reverse from this point could lead the price to fall to the 1st support at 1.0959, a pullback support level Alternative scenario: However, if the price breaks above the pivot, it might rise to […]
Daily Market Outlook, November 29, 2023 Munnelly’s Market Commentary… Asia – Stocks in the Asia-Pacific region displayed a mixed performance in the wake of volatile trading on Wall Street. The US dollar weakened, and treasury bonds gained ground following dovish comments from the Federal Reserve. Investors also considered the Reserve Bank of New Zealand’s decision […]
The Japanese yen continues rising against the US dollar. The current USDJPY exchange rate stands at 147.08. Two factors influence the yen’s exchange rate: Japan’s inflation and the behaviour of the US dollar. The price situation is somewhat balanced: while the CPI has risen, it remains unstable. The USD circumstances are rather productive for the […]
The Australian dollar, paired with the US dollar, continues to rise. The current AUDUSD exchange rate stands at 0.6650. Inflation is slowing in Australia, supporting the scenario of the Reserve Bank of Australia refraining from further interest rate hikes. Market expectations for a rate hike have decreased from 70% to 50%. Today’s statistics show a […]
NZD Spikes Higher The New Zealand Dollar was among the big winners yesterday as USD reversed lower. NZDUSD traded to its highest level since August earlier today before selling kicked in to fuel a correction lower. Overnight, the RBNZ was seen holding rates unchanged at 5.5%, in line with expectations. However, the bank warned that […]
DXY Plunges The US Dollar was seen plunging to its lowest level since early August yesterday as traders digested the latest Fed commentary. Fed’s Waller commented yesterday that he was encouraged by the slowing of the US economy and believed that Fed monetary policy was in the right place to bring inflation down to target. […]