Category: Technial Analysis
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be the support level at 1.0465. However, the price could correct to 1.0580 and continue the downtrend after the correction […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of 4/8 (0.6347) is expected, from where the price might drop to the support at 2/8 (0.6286). The scenario can […]
Daily Market Outlook, October 17, 2023 Munnelly’s Market Commentary… Asia – Asian stocks rebounded from yesterday’s losses, following the US market’s recovery. Japan’s Nikkei-225 index rose by 1%, while other regional markets also gained. The Israel-Hamas conflict remains tense, but diplomatic efforts are underway to prevent further escalation. US President Biden will visit Israel tomorrow. […]
The Japanese yen paired with the US dollar is currently undergoing a phase of consolidation near the psychologically significant level. The current USDJPY exchange rate stands at 149.55. Investors continue to monitor the developments in USDJPY with considerable anxiety. The pair is still very close to the 150.00 yen level, around which interventions to bolster […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a correction wave to 1.0562. Today the market continues developing a declining wave to 1.0502. Breaking this level downwards, the potential for a wave down to 1.0444 could open. After the price reaches this level, a correction to 1.0502 (with a test from below) looks possible. GBPUSD, […]
TitleEURUSD H4 | Falling to support level? TypeBearish Reversal Preference: Price has just reacted off our pivot point of 1.05591, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.0494, a multi-swing low support level. Alternative scenario: However, if the price […]
TitleSPX500USD H4 | Bullish bounce off 61.8% fibo? TypeBullish Bounce Preference: Price could potentially fall to our pivot point at 4334.5, which is an overlap support level, aligning with the 61.8% fibo retracement and 78.6% fibo projection. If price bounces off our pivot point, then price could rise towards the 1st resistance at 4397.6, which […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has rebounded from the upper boundary of the Cloud. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.2255 is expected, followed by a decline to 1.1995. A signal confirming the decline will be […]
The main currency pair is in a consolidation phase on Tuesday. The current EURUSD exchange rate stands at 1.0550. The beginning of the week was quiet, bringing neither news nor statistics. Nevertheless, the US dollar has retreated while the capital markets have shown interest in risk. Today could bring considerable changes. The macroeconomic calendar will […]
TitleAUDUSD H4 | Rising into confluence of Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.6385 which is an overlap resistance that aligns with a confluence of Fibonacci levels i.e. the 61.8% retracement and the 61.8% projection levels; we could see momentum carry price down to its 1st support at 0.62939 […]