Category: Technial Analysis
EURUSD, “Euro vs US Dollar” EURUSD found support at 1.0546 and completed a structure of growth to 1.0585. By now, a consolidation range has formed around this level. Breaking it upwards, the price achieved a local target of 1.0622. Today a link of correction to 1.0585 (a test from above) is expected, followed by another […]
China Manufacturing PMI Falls Copper prices are in the green today but are struggling to break back above local resistance on the back of weaker-than-forecast Chinese manufacturing data overnight. The Chinese manufacturing PMI for last month was seen falling back into negative territory at 49.5 down from 50.2 prior and expected. The data puts emphasis […]
TitleNZDJPY H4 | Heading into pullback resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 87.59 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 86.845 which is a multi-swing-low support level. Alternative scenario:If price breaks above the […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has gained a foothold above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2170 is expected, followed by a decline to 1.1985. An additional signal confirming the […]
The primary currency pair experienced a minor rise on Tuesday. The current EURUSD exchange rate stands at 1.0591. The US dollar weakened against major currencies at the beginning of the week. Market participants are now primarily focused on the upcoming meeting of the US Federal Reserve System scheduled for Wednesday and the employment sector data […]
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 […]