Category: Technial Analysis

CPI Slides 2% In reassuring news for both UK households and the BOE, UK inflation was seen cooling sharply last month. Headline annualised inflation fell back to 4.6% from 6.7% prior, below the 4.7% the market was looking for. This marked the largest deflationary move in two-years in the UK. Core inflation was seen falling […]

Daily Market Outlook, November 15, 2023 Munnelly’s Market Commentary…  Asia – stocks experienced an uptick as global risk sentiment improved. The catalysts for this positive shift included weaker-than-expected US Consumer Price Index (CPI) data, which led to a more dovish outlook from the Federal Reserve, raising hopes that the Fed might conclude its rate-hiking cycle. […]

TitleXAUUSD H4 | Falling to support? TypeBearish Reversal Preference: Price has just reacted off our pivot point of 1946.23, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1932.79, an overlap support level Alternative scenario: However, if the price breaks above […]

Daily Market Outlook, November 14, 2023 Munnelly’s Market Commentary…  Asia – stocks exhibited a mixed performance as markets awaited the release of US Consumer Price Index (CPI) data.  The Nikkei 225 saw advancement, driven by earnings releases and Japan’s consideration of corporate tax breaks for companies implementing an 8% wage increase. Meanwhile, the Hang Seng […]

AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes have rebounded from the support level of 0/8 (0.6347) on H4. The RSI is approaching the resistance line. In this situation, a test of 1/8 (0.6408) is expected, followed by a breakout of this level and a rise to the resistance at 2/8 (0.6469). The scenario can […]

The Japanese yen remains exceptionally weak when paired with the US dollar. The current USDJPY exchange rate stands at 151.67. Yesterday, USDJPY came close to reaching 152.00. So, the yen is positioned near three-decade lows, having endured significant pressure. What comes next? Most probably, it will continue to decline because the fundamental background has not […]

TitleUS30USD H4 | Bullish bounce off 38.2% fibo? TypeBullish Bounce Preference:Price could fall to our pivot point at 34194.1, which is a pullback support level, aligning with the 38.2% fibo retracement and 61.8% fibo projection. Price could bounce off our pivot point to rise towards the 1st resistance at 34784.2, which is a swing high […]

The euro and British pound surged on Tuesday following the release of UK labor market statistics, which revealed an unexpected increase in employment in both the services and manufacturing sectors. Contrary to the consensus estimate of a 198,000-job reduction in August, employment rose by 54,000, a positive revision of the previous figure. Additionally, September saw […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has found a foothold above the Kijun-Sen line. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower boundary of the Cloud at 1.2255 is expected, followed by a rise to 1.2425. A signal confirming the rise will be a […]

EURUSD, “Euro vs US Dollar” EURUSD continues developing a consolidation range around 1.0680. Extension of the range to 1.0705 is not excluded. Next, a decline to 1.0640 might follow. And with a breakout of this level, the pair might drop to 1.0622, from where the trend could continue to 1.0540. This is a local target. […]