Category: Technial Analysis
Daily Market Outlook, August 22, 2023 Munnelly’s Market Commentary… Asian equity markets exhibited mixed trading overnight, mirroring a similar performance seen in the United States. In the US, the technology sector experienced a rally, although broader market gains were constrained due to the ongoing rise in global yields. The Nikkei 225 index advanced as the […]
TitleUSDCHF H4 | Potential Bullish Bounce off 23.6% Fibo? TypeBullish Bounce Preference:Price could potentially bounce off the 23.6% fibo, which is at our pivot point at 0.8757. If price does not break below the pivot point, then price could rise to the 1st resistance at 0.8827, which is at the 61.8% fibo retracement, and an […]
Daily Market Outlook, August 21, 2023 Munnelly’s Market Commentary… Asian equity markets traded in a mixed trading pattern as the disappointment stemming from the People’s Bank of China’s (PBoC) decision on Loan Prime Rates overshadowed recent support measures implemented by China. The Nikkei 225 index experienced a positive trend due to Japan’s announcement of the […]
Bitcoin has dropped. The asset’s price is now approaching a very important supporting zone formed between levels 24800 and 25200. This zone might drive Bitcoin up. So far, the Bitcoin move can be considered a mere correction. In this case, it would be wise to check the price movements, that is, the candlestick formations next […]
The market’s most traded currency pair is neutral on Monday. The current EURUSD exchange rate stands at 1.0889. The currency market’s sympathies remain on the side of the US dollar, owing to both the global risk aversion of investors and the content of the minutes of the last Fed meeting. Signals from China are mixed, […]
TitleUSDCHF H4 | Bearish reaction off 78.6% fibo projection? TypeBearish Reversal Preference: Price has reacted off the pivot point at 0.8820, which is an overlap resistance and at the 78.6% fibo projection. There is a possibility for price to react off the 50% fibo retracement before falling down to the 1st support at 0.8713, which […]
OPEC Cuts Supporting Oil Oil prices are starting the week on a solid footing with crude futures in the green across early European trading on Monday. News of reduced oil exports from OPEC+ this month have helped underpin sentiment. Exports from Russia and Saudi Arabia were down firmly on the back of the two suppliers […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern on H4 near the support level. Currently, the instrument could go by the reversal pattern in an ascending wave. The correction target might be the resistance level of 1.0945. However, the quotes might drop to 1.0820 and continue the downtrend without pulling back. […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to 1.0844 and a correction to 1.0883. A new structure of decline to 1.0833 is expected to start forming today. After the price reaches this level, a link of correction to 1.0944 is not excluded, followed by a decline to 1.0810. This is […]
TitleUS30USD H4 | Bearish reaction off 23.6% Fibo? TypeBearish Reversal Preference: Price has reached our pivot point at 34557.89, which is an overlap resistance level, and at the 23.6% fibo retracement. If price closes below our pivot point on the H4 timeframe, then price could fall to our 1st support at 34236.71, which is a […]