Category: Technial Analysis
Aussie on the Up The Australian Dollar is turning higher today on the back of a hawkish set of RBA minutes. The minutes, released overnight, showed that the RBA considered hiking rates again this month but ultimately decided to allow more time to assess the impact of recent tightening on the economy. This marks the […]
On Tuesday, EURUSD continues to rebound from the lower boundary of the current bearish trend amid positive inflation signals and a slowing rally in oil prices: The final assessment of inflation in the EU for August revealed that core inflation remained unchanged, but overall inflation was revised down by 0.1% from the previous estimate to […]
Crude Continuing Higher Crude oil prices continue to rally this week with the market breaking out to fresh highs for the year. The market has been firmly bullish on the back of the recent news that Saudi Arabia and Russia will extend their supply cuts through year end. The tow two producers, which effectively head […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of growth to 1.0697. At the moment, the market is consolidating under this level. The consolidation range might extend to 1.0700. Next, a decline to 1.0655 could happen. And a breakout of this level could open the potential for a wave to 1.0608. After the […]
The major currency pair appears stable on Tuesday. The current EURUSD exchange rate stands at 1.0680. All the time that has passed since the meeting of the European Central Bank, the euro exchange rate has been trying to recover but has so far failed to do so. In fact, the euro has been maintaining a […]
TitleEURJPY H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price is approaching our pivot point at 157.91, which is an overlap resistance, aligning with the 61.8% fibo retracement. If price reacts bearishly from our pivot point, then price could fall to the 1st support level at 157.41, which is a swing low support, […]
CAD Boosted by Oil Gains The Canadian Dollar is rallying firmly this week. With oil prices pushing on to fresh highs for the year, CAD has been well supported and looks poised for further gains near-term. While the BOC has been on hold recently, the bank continues to stand by its message that further tightening […]
EURUSD, “Euro vs US Dollar” EURUSD has rebounded from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0725 is expected, followed by a decline to 1.0545. An additional signal confirming the decline will be a rebound from the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern on H4 near the support level. Currently, the instrument is going by the reversal signal in an ascending wave. The pullback target could be the resistance level of 1.0720. However, the price could drop to 1.0625 and continue the downtrend without testing the […]
Daily Market Outlook, September 19, 2023 Munnelly’s Market Commentary… Asian equity markets mostly traded lower, mirroring the flat performance in the United States. The lack of significant catalysts and mounting caution ahead of upcoming central bank decisions contributed to the subdued market sentiment. The Nikkei 225 underperformed as recent regional losses caught up with the […]