Category: Technial Analysis
US bond rates retreated from their highs on Wednesday after the BLS revised the annual job growth in the United States downward by 306K, which was lower than some experts had expected, with forecasts anticipating a decrease of 500K. The bond market’s reaction, characterized by a roughly 10 basis point drop in yields across all […]
TitleGBPUSD H4 I Potential bullish reversal? TypeBullish Bounce Preference:Price is falling toward our pivot point of 1.25416 which is a pullback support level that aligns with 161.8% extension and 100% Fibo projection. A bounce off from here, price could rise to 1st resistance at 1.26182 which is a pullback resistance level Alternative scenario:However, if price […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Doji reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1900.00. Upon testing the support, the price could break it and continue the downtrend. However, the quotes might pull back to […]
The BTC exchange rate retreated to 26,045 USD on Friday. Yesterday, the cryptocurrency market attempted some buying activity but failed. The support level for the flagship cryptocurrency stands at 25,150 USD, with a lower level at 23,350 USD. It is pointless to speculate on potential growth at the moment, as there are practically no buyers […]
Daily Market Outlook, August 25, 2023 Munnelly’s Market Commentary… Asian equity markets faced downward pressure, driven by the negative momentum carried over from global markets. The initial excitement related to Nvidia’s positive performance subsided, and markets were positioned for the upcoming speech by Fed Chair Powell at the Jackson Hole Symposium. The Nikkei 225 index […]
TitleAUDJPY H4 | Falling to pullback support TypeBullish Bounce Preference: Price is falling towards the pivot point of 93.289 which is a pullback support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 94.146 which is a recent swing-high resistance. Alternative scenario: If price breaks below […]
BTC Volatility Returns It’s been a volatile period for Bitcoin recently. A 12% drop at the end of last week saw the market suffering its 5th largest single-day loss as traders reacted nervously to rising US yields. However, a shifting backdrop this week has allowed for crypto assets to recover some of those losses. Yesterday’s […]
TitleSPX500USD H4 | Potential bullish bounce after pullback TypeBullish Bounce Preference: Price could fall towards the pivot point of 4452.48 which is a pullback support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 4500.81 which is a pullback resistance that aligns with the 61.8% Fibonacci […]
EURUSD, “Euro vs US Dollar” EURUSD has formed an Engulfing reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target could be the resistance level at 1.0915. However, the price could drop to 1.0815 and continue its downward movement without pulling […]
TitleGBPJPY H4 | Falling from neckline? TypeBearish Reversal Preference:Price just react off our pivot point off 184.704 which is a pullback resistance level. A reverse from here, price could fall to 1st support at 183.209 which is a pullback support level Alternative scenario:However, if price breaks above the pivot, it could rise to 1st resistance […]