Category: Technial Analysis
Daily Market Outlook, November 17, 2023 Munnelly’s Market Commentary… Asia – stocks traded mixed, reflecting a choppy performance in the United States as yields declined and market participants digested soft U.S. data releases. The Nikkei 225 exhibited indecision amid a lack of fresh catalysts and balanced comments from Bank of Japan (BoJ) Governor Ueda. Meanwhile, […]
Crude Pushing Lower Oil prices have broken down to fresh four-month lows this week as bearish sentiment continues to build. Crude futures are now down around 25% from YTD highs and look poised for further downside near-term unless we see a major shift in the backdrop. US Crude Inventories Balloon On the one hand, the […]
EURUSD, “Euro vs US Dollar” EURUSD has found a foothold under the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0765 is expected, followed by a rise to 1.0985. An additional signal confirming the rise will be a rebound […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 1970.00. Upon testing the support, the quotes might rebound from this level and continue developing the ascending wave. However, the quotes could rise to […]
China Concerns Hurting Oil Outlook Crude oil is trading lower as we head through the back end of the week. Following a strong start on Monday, prices soon topped out and reversed lower as concerns over US and Chinese demand took hold, exacerbated by the EIA reporting a large inventories build. In China, data this […]
Daily Trade Setups #NVDA #TSLA #AAPL To access today’s real-time actionable analysis use the links below, like & share! Tesla https://www.youtube.com/watch?v=LbIdYgvkefU Apple https://www.youtube.com/watch?v=OFxQfiaxeNs Nvidia https://www.youtube.com/watch?v=6jzacZb9qCM Source: Tickmill
The dollar sharply declined after the inflation report, which indicated a significant slowdown in the growth of prices in two key components: the service sector and rental rates. The monthly growth rate fell from 0.6% to 0.3%, providing hope for a subsequent inflation deceleration (due to the inertia of these components): However, on Wednesday, the […]
The main currency pair is correcting its positions on Thursday. The EURUSD exchange rate currently stands at 1.0832. Industrial production in the eurozone in September dropped by 1.1% m/m, proving to be weaker than expected (-0.9%). The index had risen by 0.6% the previous month. Logically, the production sector is facing challenges due to high […]
The British pound sterling paired with the US dollar is experiencing a decline on Thursday. The current GBPUSD quote stands at 1.2391. The UK continues to report its success in mitigating price pressure. The consumer price index decreased to 4.6% y/y in October, down from the previous 6.7%. Last month, core inflation fell to 5.7% […]
TitleGBPUSD H4 | Rising towards resistance? TypeBullish Rise Preference:Price is currently at our pivot point of 1.2390, which serves as a pullback support that aligns with the 38.2% Fibo retracement. A reversal from this point could lead the price rise to the 1st resistance at 1.2479 Alternative scenario:However, if the price breaks below the pivot, […]