Category: Technial Analysis
EURUSD, “Euro vs US Dollar” EURUSD quotes are in the oversold area on H4. The RSI has broken the resistance line. In this situation, the quotes are expected to break the -1/8 (1.0681) level and rise to the resistance at 0/8 (1.0742). The scenario can be cancelled by a downward breakout of the support at […]
The BTC exchange rate is stable on Monday, standing at 26,664 USD. The market is calm. The weekly surplus of the flagship cryptocurrency amounts to 3.57%. Nothing has visibly changed among fundamental and technical indicators. The situation might alter on Wednesday when the US Federal Reserve will declare its interest rate decision and give hints […]
TitleGBPUSD H4 | Falling from a pullback resistance? TypeBearish Reversal Preference:Price is rising toward our pivot point of 1.24444, which serves as a pullback resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.23337, an overlap support level. Alternative scenario:However, if the price breaks above the […]
Daily Market Outlook, September 15, 2023 Munnelly’s Market Commentary… Asian equity markets posted gains as they followed the positive global trend driven by robust U.S. economic data, a dovish rate hike by the European Central Bank (ECB), and the People’s Bank of China’s (PBoC) cut in the Reserve Requirement Ratio (RRR). Additionally, better-than-expected Chinese economic […]
The BTC exchange rate rose to 26,648 USD. The daily increase is 1.6%. This is positive news. Apparently, investors have perceived external conditions as neutral, and find current price levels attractive for acquisitions. Nonetheless, there is no indication of large-scale purchases at this stage. Support for BTC is at 25,150 USD, while the resistance level […]
The main currency pair is holding a weak position on Friday. The current EURUSD exchange rate stands at 1.0649. The major currency pair experienced strong pressure yesterday. The European Central Bank held its meeting and raised the interest rate by 25 basis points to 4.5% per annum. The euro would have survived this decision quite […]
DXY Breaks Out The US Dollar broke out to its highest levels since March yesterday as the latest round of US data added further uncertainty to the Fed outlook. August retail sales were seen coming in above forecasts with the headline reading printing 0.6%, well above the 0.1% the market was looking for. Similarly, the […]
TitleNZDUSD H4 | Approaching Fibo resistance confluence TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.59508 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and the 100.0% Fibonacci projection levels and could potentially reverse from here; we could see momentum carry price down to its 1st support at […]
EURUSD, “Euro vs US Dollar” EURUSD completed correction and went on developing its wave of decline. By now, it has performed a link of decline to 1.0633. Today the market is forming a consolidation range above this level. The range is expected to extend to 1.0655 (with a test from below). Next, a decline to […]
Brent Brent crude oil quotes and the RSI on H4 are in their respective overbought areas. In this situation, a downward breakout of 8/8 (93.75) is expected, followed by a decline to the support at 6/8 (90.62). The scenario can be cancelled by an upward breakout of +1/8 (95.31). In this case, the quotes could […]