Category: Technial Analysis
BOC On Watch With no US data on deck today, the focus will be on Canadian retail sales. With the BOC very much back in the show regarding rate hikes, traders are paying close attention to incoming CAD data. Earlier in the week we saw CAD CPI falling again last month, downplaying near-term hawkish BOC […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the Kijun-Sen line after a powerful decline. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2905 is expected, followed by a decline to 1.2655. An additional signal confirming the decline […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the resistance at 1.1220. However, the price might correct to 1.1085 and continue the uptrend after the pullback. USDJPY, […]
TitleAUDUSD H4 | Bullish continuation towards 1st resistance? TypeBullish Bounce Preference:Price bounced off the pivot point at 0.6756, an overlap support key level that aligns with the 61.8% fibo projection and 50% fibo retracement, which shows fibo confluence. Price could potentially continue its bullish momentum towards the 1st resistance at 0.6838, which is a multi-swing […]
Daily Market Outlook, July 21, 2023 Munnelly’s Market Commentary… Asian equity markets were a mixed bad overnight following the negative sentiment from Wall Street, particularly from the Nasdaq 100, which had its second-worst day of the year due to tech earnings disappointment and rising yields, weighing on investor sentiment.The Nikkei 225 also started the day […]
The primary currency pair remains at local lows on Friday. The current EURUSD quote is 1.1140. The stability and strength of the US dollar are attributed to the anticipation of the Federal Reserve’s decision to halt its aggressive monetary policy. The jobless claims statistics published yesterday confirmed the stability of the US employment sector. This […]
TitleEURGBP H4 | Bearish reaction off pivot? TypeBearish Reversal Preference:Price is approaching our pivot point at 0.8686, which is a swing-high resistance key level, and it aligns with the 50% fibo retracement. Price could potentially have a bearish reaction off the pivot point to fall to the 1st support at 0.8648, which is a pullback […]
Bitcoin is moving in a narrow range as it didn’t manage to break through the resistance level of 31000. Currently, the asset is testing the lower boundary of the range. This might cause a consolidation breakout. The asset’s price might also break the level of 31000 although this is less likely to happen. Gold has […]
The British pound sterling has suspended its rally against the US dollar, and the currency pair is now in a corrective phase. The current GBPUSD quote is 1.2950. Yesterday’s published UK Consumer Price Index statistics for June reflected a decline to 7.9% y/y from 8.7% a month earlier. Core inflation stood at 6.9% y/y, down […]
The major currency pair is stable on Thursday. The current EURUSD quote is 1.1220. The market has reached an equilibrium point and is now awaiting news. The US Federal Reserve and the European Central Bank meetings will take place next week. The market is counting on the fact that the Fed is approaching the point […]