Category: Technial Analysis

TitleUSDJPY H4 | Falling to support level? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 149.729, which serves as a swing-high resistance level. A reversal from this point could lead the price to drop to the 1st support at 148.864, an overlap support level Alternative scenario:However, if the price breaks above the […]

TitleDE30EUR H4 | Bearish reversal off 61.8% fibo? TypeBearish Reversal Preference: Price could continue rising towards the pivot point at 15574.3, which is an overlap resistance level, aligning with the 61.8% fibo retracement and 61.8% fibo projection. We can expect price to react bearishly, to fall to the 1st support at 15401.7, which is a […]

EURUSD, “Euro vs US Dollar” EURUSD has reached the estimated target of a declining wave at 1.0550. The structure of the last link implies the development of a new declining movement to 1.0460. After the price reaches this level, a consolidation range might form above it. An escape from the range upwards is expected, followed […]

EURUSD, “Euro vs US Dollar” EURUSD are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the support line. In this situation, a downward breakout of 2/8 (1.0498) is expected, followed by a decline to the support at 1/8 (1.0376). The scenario can be cancelled by the […]

JPY Sell-Off Continues USDJPY is trading at 11-month highs following early buying in the European session on Monday. The market is now fast approaching a test of the 2022 highs around 151.81. Despite speculation earlier in the year around potential BOJ intervention, the central bank has yet to take any actions to help strengthen JPY. […]

Daily Market Outlook, October 2, 2023 Munnelly’s Market Commentary…  Asian equity markets saw mixed trading as the region was significantly affected by holiday closures. The Nikkei 225 initially showed gains, but it later pulled back, slipping below the 32,000 level. The Hang Seng and Shanghai Composite were closed for the National Day Golden Week celebrations, […]

EURUSD, “Euro vs US Dollar” EURUSD has completed a corrective movement to 1.0615. Today the market is forming a link of decline to 1.0535. Next, a link of growth to 1.0620 might follow. After the quotes reach this level, a correction to 1.0555 is expected. Practically, a wide consolidation range is developing around 1.0555. An […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2225 is expected, followed by a decline to 1.1995. An additional signal confirming the decline will […]

BTC Soaring Crypto bulls are proclaiming the start of ‘Uptober’, considering the moves we’re seeing across the space today. BTC and ETH are both surging higher with BTC up around 6% since the Asian open last night. Prices remain well bid through early European trading on Monday with around $70 million worth of shorts said […]

Bitcoin has tested the supporting level of 25000. Currently, the asset’s price is trying to jump. It broke the local downtrend to rise without obstacles. Bitcoin might not only break the resistance level of 29000 but also hit the level of 30000 next. So, let’s observe whether it might happen. Gold broke the supporting zone […]