Category: Technial Analysis

XAUUSD, “Gold vs US Dollar” Gold has formed an Inverted Hammer reversal pattern near the support level. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1930.00. Upon testing the resistance, the price could break it and continue the uptrend. However, the quotes might pull back […]

TitleXAUUSD H4 | Reacting off 50% Fibo? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 1915.48, which serves as an overlap resistance level that aligns with a 50% Fibo retracement.  A reversal from this point could lead the price to drop to the 1st support at 1903.843, a support level. Alternative scenario:However, […]

Testing Key Area EURAUD is at a crossroads here on the back of the sell off from YTD highs. The market has corrected around 3.5% lower from those 1.74 area highs and is now testing the bull channel lows. EUR has come under heavy selling pressure over recent weeks as a shift in ECB expectations […]

TitleUSDCAD H4 | Falling to overlap support TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.35019 which is an overlap support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.35937 which is an overlap resistance level. Alternative scenario:If price breaks below the […]

Consumer inflation in the United States in August came in slightly above expectations, as indicated by the report released on Wednesday. Core inflation, which excludes items or services with volatile prices, reached 0.3% for the month. While the deviation from the forecast (0.2% MoM) is not significant, it is likely enough to prompt the Federal […]

The Japanese yen paired with the US dollar is retreating again. The current USDJPY exchange rate stands at 147.14. The yen is once again hovering near ten-month lows as investors re-evaluate the BoJ’s monetary policy outlook following comments made by the central bank’s governor. Earlier, Kazuo Ueda mentioned that the central bank might end its […]

The major currency pair remains in a consolidation phase on Thursday. The current EURUSD exchange rate stands at 1.0745. Yesterday, the US released the long-awaited CPI figures for August. Inflation increased by 0.6% on a monthly basis, in line with expectations. This marks the highest monthly increase since June 2022. Annual inflation reached 3.7 per […]

CPI Rises Again in August The release of the latest US inflation data has done little to impact near-term Fed rate pricing, despite coming in above forecasts.  Annualised CPI was seen rising to 3.7% from the prior month’s 3.2% reading, above the 3.6% the market was looking for. Looking at the monthly breakdown, headline inflation […]

Daily Market Outlook, September 14, 2023 Munnelly’s Market Commentary…  Asian equity markets generally displayed resilience and upward momentum, distancing themselves from the uncertainty that had gripped Wall Street. This confidence emerged in the aftermath of a somewhat hawkish-leaning US inflation report, which revealed an uptick in the headline Consumer Price Index (CPI). However, the Core […]

EURUSD, “Euro vs US Dollar” EURUSD continues developing a correction to 1.0777. After the quotes reach this level, they could drop to 1.0676. This is a local target. After the price hits it, a new wave of growth to 1.0900 could begin. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed a wave of […]