Category: Technial Analysis
Small Tweaks From BOJ The Japanese Yen hit its lowest level against EUR today for the first time since 2008. The fresh rally in EURJPY comes in response to the latest BOJ meeting overnight. The bank once again held headline policy unchanged, reaffirming its commitment to easing, despite making a further adjustment to its YCC […]
Title USDCHF H4 | Bouncing Off Support? Type Bullish Bounce Preference: The price is falling toward our pivot point of 0.9000, which serves as a pullback support level. A bounce from this point could lead the price to rise to the 1st resistance at 0.9064, a pullback resistance. Alternative scenario: However, if the price breaks […]
US Inflation Expectations Rise The latest report from the University of Michigan reveals a notable surge in the 1-year inflation expectations of households, jumping from the previous 3.2% to a substantial 4.2%. This figure significantly exceeds the 3.8% forecast. Notably, inflation expectations for the five years ahead remain steady at 3.0%. The Fed tracks inflation […]
Daily Market Outlook, October 30, 2023 Munnelly’s Market Commentary… Asia – stock markets experienced mixed trading with most major indices ending in negative territory. The ongoing geopolitical concerns remained at the forefront of investor sentiment as the month-end and upcoming risk events loomed. The Nikkei 225 was the weakest performer, down by 1.0%, as yields […]
The BTC exchange rate on Monday is consolidating at 34,338 USD. The weekly rise is estimated at 12%. Following an impressive surge last week, the market has not seen any new drivers other than those that are already factored into the prices. Buyers are still hopeful that the US Securities and Exchange Commission (SEC) might […]
The Japanese yen paired with the US dollar has stabilised its position. The current USDJPY exchange rate stands at 149.56. Today marks the beginning of a two-day meeting of the Bank of Japan, scheduled to conclude on Tuesday with a decision on the interest rate. There is a high likelihood that the rate will remain […]
Gold Under Pressure on Monday Gold prices are slipping on Monday, putting a pause on the more than 10% rally we’ve seen in gold over the last month. The selling comes despite news of Israel stepping up its invasion of Gaza this weekend through intensified land and air attacks. For now, the main focus seems […]
USD Pauses for Now The US Dollar starts the week in somewhat muted fashion as traders await fresh directional catalysts. Interesting to note that the CFTC institutional positioning report shows that USD long positions were reduced again last week, marking the third consecutive week of long covering. USD longs had hit their highest level in […]
EURUSD, “Euro vs US Dollar” EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud is expected at 1.0580, followed by a decline to 1.0440. An additional signal confirming the price drop could be a rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of the 2/8 (1.0559) mark is expected, followed by a decline to the support at 0/8 (1.0498). The scenario can […]