Category: Technial Analysis
Daily Market Outlook, August 15, 2023 Munnelly’s Market Commentary… Asian equity markets traded with mixed outcomes as market participants processed key releases, including disappointing Chinese activity data and the People’s Bank of China’s (PBoC) unexpected reductions in its 7-day Reverse Repo and 1-year Medium-term Lending Facility (MLF) rates. The Nikkei 225 index in Japan experienced […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF has rebounded from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.8755 is expected, followed by a rise to 0.8895. An additional signal confirming the rise will be a rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline at 1.0875. A correction to 1.0939 is not excluded today. Next, a new wave of decline to 1.0816 could start, from where the trend might continue to 1.0750. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD completed a structure of a wave of […]
Chinese yuan extends depreciation, indicating growing concerns about China growth outlook and garnering more attention in global markets. USDCNY has exceeded the 7.28 mark: Data on industrial production, retail sales, fixed asset investment, and unemployment released today came in significantly weaker than expected: The People’s Bank of China also announced today that it is reducing […]
TitleAUDUSD H4 | Approaching 38.2% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.65172 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64678 which is a swing-low […]
The British pound sterling is consolidating against the US dollar on Tuesday. The current GBPUSD exchange rate stands at 1.2690. Today the UK will release employment market statistics. Statistical data on average earnings in June are of most interest. A month earlier, the indicator increased by 4.0% over the three months ending in May. There […]
The most traded currency pair on Tuesday is stabilising after a stress yesterday. The current EURUSD quote is 1.0913. USD reached its monthly highs because investors were looking for a safe haven. The market was avoiding risks because of fears about the future of the Chinese economy. Moreover, investors were anxious about what the Bank […]
TitleDE30EUR H4 | Bearish reaction off 38.2% fibo? TypeBearish Reversal Preference: Price is approaching our pivot point at 16018.62, which is a pullback resistance, as well as at the 38.2% fibo retracement and 78.6% fibo projection. This shows that there is fibo confluence here, and price could reject off our pivot point, and there is […]
TitleBCOUSD H4 | Bullish bounce off 50% Fibo? TypeBullish Bounce Preference:Price has bounced off the pivot point of 85.859 which is an overlap support that aligns with the 50.0% Fibonacci retracement level and could potentially climb higher; we could see momentum carry price up to its 1st resistance at 88.179 which is a swing-high resistance. […]
The FTSE Finish Line – August 14 – 2023 FTSE China Concerns Continue To Weigh ON Export Heavy Blue Chips London’s FTSE 100 index UK export-heavy stock index, started the week on the backfoot experiencing a slight decline due to the underperformance of mining and oil companies’ shares. This drop was primarily influenced by mounting […]