Category: Technial Analysis

Investors have taken a more positive view of the systemic risk situation in China following news that the major Chinese developer Country Garden has been granted a deferral of coupon payments on some medium-term bonds. This development has lifted investor sentiment in global markets, with Asian stocks reacting optimistically to the news from China today. […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be 1914.00. After testing the support level, the price might rebound and continue the uptrend. However, the quotes could rise to […]

AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI has rebounded from the resistance line. In these circumstances, the price is expected to break the 1/8 (0.6408) level down and drop to the support at 0/8 (0.6347). The scenario can be cancelled […]

TitleAUDUSD H4 | Approaching 61.8% Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.64682 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.63574 which is a pullback support […]

Eurozone Growth Fears The Euro remains under pressure on Tuesday as the latest set of eurozone economic data adds to bearish sentiment. The ZEW economic sentiment survey for the eurozone slipped further into negative territory at -8.9 today, down from -5.5 the prior month and below the -6.2 the market was looking for. Fears for […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which indicates a downtrend. A test of the lower boundary of the Cloud at 1.2555 is expected, followed by a decline to 1.2325. An additional signal confirming the decline could […]

EURUSD, “Euro vs US Dollar” EURUSD has corrected to 1.0767. Today the market continues to decline to 1.0723. With a downward breakout of this level, the price is expected to drop to 1.0697 and then rise to 1.0723 (a test from below). A decline to 1.0680 could follow next. This is a local target. Once […]

TitleGBPUSD H4 | Reacting off 1st resistance? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 1.26525 , which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.24576, a multi-swing low support level. Alternative scenario:However, if the price breaks […]

Daily Market Outlook, September 12, 2023 Munnelly’s Market Commentary…  Asian equity markets exhibited a mixed performance as the region adopted a cautious stance, lacking any fresh macroeconomic catalysts, and with market participants preparing for the release of U.S. Consumer Price Index (CPI) data scheduled for midweek. The Nikkei 225 index showed a gain of 0.6%. […]

TitleUS30USD H4 | Bearish reaction off 50% fibo? TypeBearish Reversal Preference: Price is approaching our pivot point at 34695.5, which is a pullback resistance level, aligning with the 50% fibo retracement. If price closes below this pivot point, then we can expect price to fall to the 1st support at 34274.4, which is an overlap […]