Category: Technial Analysis
TitleGBPJPY H4 | Bullish bounce off pivot? TypeBullish Bounce Preference: Price is approaching the pivot point at 179.76, which is a multi-swing low key level. The 1st support is placed at 178.135, which aligns with the -27.2% fibo expansion and 145% fibo extension, this shows that there is fibo confluence. Once price bounce off the […]
AUD Higher Midweek The Australian Dollar has been the standout performer so far today. The Aussie soared higher overnight in response to the latest set of employment indicators which showed that the unemployment rate remained unchanged at 3.5% last month, despite expectations for a 0.1% increase. Additionally, the latest employment change data was firmly higher […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3175. Next, the price might rebound from the resistance level and continue the downtrend. However, the quotes could drop to 1.3100 without […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the oversold area on H4. The RSI is nearing the support line. In this situation, a test of -2/8 (0.8544) is expected, followed by a rebound from level and a rise to the resistance at 0/8 (0.8789). The scenario can be cancelled by a downward […]
Fresh Inventories Deficit Seen Crude prices continue to hold within last week’s range as the latest EIA inventories yesterday failed to provide the catalyst for a fresh directional move. The EIA reported a 0.7 million barrel drawdown in US crude stocks, this was lighter than the 2 million barrel deficit the market was looking for […]
The FTSE Finish Line – July 20 – 2023 FTSE Extends Yesterday’s Gains, Weaker GBP & Miners Shine On Thursday, the UK’s FTSE 100 index extended yesterday’s gains. The weaker pound contributed to the gains in the FTSE 100, which has a high concentration of exporters. The pound weakened after data showed domestic inflation easing […]
EURUSD, “Euro vs US Dollar” EURUSD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.1165 is expected, followed by a rise to 1.1375. An additional signal confirming the rise will be a […]
EURUSD, “Euro vs US Dollar” EURUSD has completed the first wave of decline to 1.1174. Today it might correct to 1.1232 with a test from below. After the correction is over, a new wave of decline to 1.1150 could start. This is a local target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed […]
TitleEURJPY H4 | Bullish bounce off 23.6% fibo? TypeBullish Bounce Preference:Price is within our pivot point and the 23.6% fibo retracement range, at 156.10. Price could potentially make a bullish bounce off this 23.6% fibo retracement, to the 1st resistance at 157.14. Price would then start to reverse from the 1st resistance due to the […]
Daily Market Outlook, July 20, 2023 Munnelly’s Market Commentary… Asian equity markets had a mixed trading session, reflecting the uncertain performance in the US markets as investors processed various data releases, corporate earnings results from tech darlings Netflix and Tesla, the latter saw a decline in margins as it continues to boost discounts, while Netflix’s […]