Category: Technial Analysis
BOJ Holds Steady The Japanese Yen has come under fresh selling pressure today on the back of the September BOJ meeting yesterday. The Bank of Japan held rates unchanged at yesterday’s meeting, in line with expectations. Explaining its decision, the bank cited the “extremely high uncertainties” facing both the domestic and global economy and noted […]
The BTC exchange rate could not support the growing momentum and slid back to 26,654 USD. Once again, the same scenario is developing in the digital asset market. The price of the flagship cryptocurrency gradually drops, and the market starts buying vigorously. The value rises by 4-5%, and then just as quickly falls back down […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2325 is expected, followed by a decline to 1.2085. An additional signal confirming the decline will be a rebound from the upper […]
Oil Turning Higher Again Following a brief correction lower from YTD highs, crude oil prices are turning higher again into the end of the week. The move comes on the back of the news that Russia has announced restrictions on the export of diesel and gasoline. The ban on exports takes another 3.4% off the […]
BOE Catches Market Off-Guard GBP continues to trade sharply lower on Friday following the latest BOE rate decision. The bank opted to keep rates on hold yesterday, pausing a 15-month tightening cycle and catching the market slightly off guard. Traders had been expecting one further hike yesterday. However, in response to the steady decline in […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to 1.0616. Today the market might develop a correction to 1.0686. After it is over, a new declining move to 1.0606 could follow, from where the trend might continue to 1.0570. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed a wave […]
The British pound sterling paired with the US dollar is currently at its six-month low. The current GBPUSD exchange rate stands at 1.2276. The Bank of England kept the interest rate unchanged at 5.25% per annum at its meeting on Thursday. The decision was unexpected for investors and economists: the main forecast had implied a […]
Daily Market Outlook, September 21, 2023 Munnelly’s Market Commentary… Asian equity markets faced pressure following the Federal Open Market Committee’s (FOMC) hawkish pause, where the Fed’s dot plots indicated one more rate hike by year-end and fewer expected cuts next year. The Nikkei 225 slipped below the 33K handle as Japanese yields surged to decade […]
TitleGBPUSD H4 | Rising toward 1st resistance? TypeBullish Bounce Preference: The price has just bounced off the pivot point at 1.23054, which aligns with the 127.2% Fibo extension level. A bounce from this level could lead the price to rally toward the 1st resistance at 1.23694, which is a pullback resistance. Alternative scenario:However, if the […]
TitleUSDCAD H4 | Reversal from 38.2% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.35041 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.33895 which is a […]