Category: Technial Analysis
Silver broke the level of 24.35 and rebounded. Currently, the asset’s price is rebounding from the broken level again. Silver has also tested the median line of the uptrend and formed the bullish engulfing. The asset is likely to jump and face resistance at the level of 26.25. Brent oil is gradually approaching the resistance […]
The BTC price is hovering around 29,216 USD on Wednesday. Currently, the flagship cryptocurrency appears weak, having lost 3% over the week, resulting in a moderate overall sentiment. Intermediate supports are located near the levels of 29,050 USD and 28,600 USD. The upper boundary of the range is at the 31,150 USD resistance line. Unless […]
The Australian dollar, paired with the US dollar, is once again facing pressure. The current AUDUSD quote is 0.6759. The Aussie’s volatility is drawing attention. On one hand, a strong US dollar exerts pressure on the AUD. On the other hand, China is sending quite positive signals. Today’s statistics revealed that inflation in Australia for […]
The major currency pair remains in a neutral position on Wednesday. The current EURUSD quote is 1.1050. The two-day meeting of the US Federal Reserve System concludes tonight. Regarding the interest rate, the outlook is relatively clear: there will be a 25-basis point increase, bringing the borrowing cost to 5.5% per annum. However, the real […]
So, the FOMC day has arrived. The market has already priced in one rate hike (according to futures, with a 99% chance), and judging by the recent bullish rebound of the dollar, it doubts that the regulator will consider the June deceleration of core inflation as a starting point in its communication. The Fed could […]
FOMC Expectations Weighing on Nasdaq US stocks are trading tentatively ahead of the FOMC later today. Looking at the Nasdaq, the index has pulled back from the recent YTD highs and is currently sitting around 3% lower. Expectations are split ahead of the Fed later with the base case scenario being that the Fed hikes […]
EURUSD, “Euro vs US Dollar” EURUSD has reached the local target of a declining wave at 1.1020. The market is consolidating above this level today. A link of growth to 1.1070 is expected to develop, followed by a drop to 1.1046. Next, the pair could rise to 1.1100, from where the correction might expand to […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes have broken the 200-day Moving Average on H4 and are now hovering above it, which indicates the probable development of an uptrend. The RSI is testing the support line. In these circumstances, the quotes are expected to break the 5/8 (141.40) level and reach the resistance at […]
Daily Market Outlook, July 26, 2023 Munnelly’s Market Commentary… Asian equity markets traded in a mixed fashion overnight with a lack of clear direction as major central bank policy decisions are approaching. The US Federal Reserve (FOMC) is expected to make an announcement today, followed by the European Central Bank and the Bank of Japan […]
The FTSE Finish Line – July 26 – 2023 FTSE Earnings Disappoint, NatWest CEO Exit Weighs On Wednesday, the UK’s FTSE 100 experienced a slight decline due to negative corporate updates from some key companies. Miner Rio Tinto and bank Lloyds reported disappointing results, weighing down the blue-chip index. Additionally, NatWest Group’s shares dropped by […]