Category: Technial Analysis
CPI Spikes Again The Aussie Dollar has seen fresh demand across early European trading on Wednesday following the latest Aussie data overnight. CPI was seen ticking back up last quarter with the headline reading printing 1.2% from 0.8% prior, above the 1.1% the market was looking for. YoY, CPI bounced back to 5.6% from 5.2% […]
The Australian dollar continues growing against the US dollar. The current AUDUSD exchange rate is 0.6400. On Wednesday morning, Aussie skyrocketed to its two-week high after the publication of Australian inflation statistics that exceeded expectations. For example, the CPI in Q3 dropped to 5.4% from 6.0% previously. Yet the result did not live up to […]
The Japanese yen is again declining against the US dollar. The current USDJPY exchange rate stands at 149.86. Answering a question about the yen’s recent decline, Prime Minister of Japan Fumio Kishida said yesterday that it was desirable for currency rates to move stably. Kishida emphasised that it is up to the Bank of Japan […]
The US Dollar, often at the center of currency markets, exhibited resilience in the face of mounting bearish pressure. This defiance was fueled by the release of Composite PMI data from S&P Global, which exceeded expectations by rising to 51 points in October. This figure indicates a slight MoM expansion in both the manufacturing and […]
Daily Market Outlook, October 25, 2023 Munnelly’s Market Commentary… Asia – Asian stocks displayed mixed trading patterns, influenced by a positive lead from Wall Street. Market focus shifted to the earnings reports of major companies like Microsoft and Alphabet. Microsoft’s shares rose by 3.9%, while Alphabet experienced a 5.9% decline, with particular attention on their […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to 1.0582. A link of correction to 1.0636 might follow today. Practically, a consolidation range is developing. With an escape from the range downwards, the potential for a declining wave to 1.0520 could open. With an escape upwards, the wave of growth might […]
The BTC on Wednesday is correcting, hovering at 34,200 USD. The weekly increase amounts to 18.8% but at certain moments it exceeded 22%. Cryptocurrencies are so popular these days that do not even encounter technical pullbacks. At the platform, they think that the moment when a license for spot bitcoin ETF will be granted to […]
TitleGBPUSD H4 | Bearish Continuation Expected? TypeBearish Reversal Preference:The price is rising toward our pivot point of 1.22123 – 1.2204 which serves as a pullback resistance level aligning with the 38.2% Fibonacci. A reversal from this point could lead to a price drop to the 1st support at 1.21218, a multi-swing low support level. Alternative […]
TitleUSDCAD H4 | Potential RSI Bearish Divergence TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.37854 which is a swing-high resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.36717 which is a pullback support level. Alternative scenario:If price breaks above the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the resistance level at 1.0690. However, the price could correct to 1.0560 and extend the downtrend after a pullback […]