Category: Technial Analysis

TitleJP225USD H4 | Falling to pullback support TypeBullish Bounce Preference: Price is falling towards the pivot point of 32133.96 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 32749.26 which is an […]

EURUSD, “Euro vs US Dollar” EURUSD is pushing off the upper boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower channel boundary at 1.0770 is expected, followed by a decline to 1.0605. An additional signal confirming the decline will be a rebound […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3635. Next, the price could break the resistance and continue the uptrend. However, the quotes might correct to 1.3520 before rising. […]

Daily Market Outlook, September 13, 2023 Munnelly’s Market Commentary…  Asian equity markets faced downward pressure, influenced by the recent tech-related declines on Wall Street, driven by post-Apple event disappointment. Additionally, market participants exhibited caution as they awaited the release of upcoming U.S. Consumer Price Index (CPI) data, which is of significant interest to global financial […]

TitleCHFJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference: Price could rise towards the pivot point of 165.722 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 164.113 which is a multiple swing-low support […]

TitleEURJPY H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price is approaching the pivot point at 157.83, which is an overlap resistance level and slightly above the 61.8% fibo retracement and 78.6% fibo projection. We can expect price to have a bearish reaction off the pivot point and fall to the 1st support […]

FTX Sell-Off to Begin The Bitcoin market is seeing plenty of volatility this week. The market is reacting to news that bankrupt crypto-broker FTX is set to begin liquidating its assets this week. The now-collapsed broker has major holding of several big coins such as Solana, ETH and Dogecoin among others. The sell-off is feared […]

The British pound, paired with the US dollar, is gearing up for a torrent of statistical information. The current GBPUSD exchange rate stands at 1.2511. The pound is hovering near its three-month lows, with investors eagerly anticipating a substantial volume of statistical data releases, including the monthly GDP report and employment market updates. At the […]

The Japanese yen, paired with the US dollar, still appears weak but is currently stabilising. The current exchange rate for USDJPY stands at 146.68. The basis for the recovery of JPY positions is the local weakening of the US dollar. Even if it is just a brief respite, it holds great value for the yen. […]

Wages Rise Again Focus is back on the BOE today after the latest set of UK employment data released this morning. The Office for National Statistics reported that average wages (excluding bonuses) rose 7.8 % higher in the three months through July when compared with the same period a year earlier. This marks the fastest […]