Category: Technial Analysis

Daily Market Outlook, July 19, 2023 Munnelly’s Market Commentary…  Asian equity markets had a mixed performance as ongoing economic concerns in China partially offset positive sentiment from strong bank earnings in the US and dovish commentary from the European Central Bank. The Nikkei 225 outperformed, rising by 0.8% following comments from Bank of Japan Governor […]

The FTSE Finish Line – July 19 – 2023 Inflation Flops FTSE Flies  FTSE 100 index is up 2.1% as UK housebuilders and property firms experienced significant gains as inflation slowed sharply in the country. The UK housebuilders’ index surged by 6.4%, on track for its best day since November 2008. The housing index rose […]

The BTC exchange rate reached 30,082 USD on Wednesday. Last night, the flagship cryptocurrency experienced a remarkable decline and tested support at 29,800 USD. This is due, firstly, to the lack of new buying drivers. Secondly, the time factor is working against buyers: the longer the pause in purchases persists, the less positive momentum there […]

The major currency pair has moved lower and is consolidating. The current EURUSD quote is 1.1230. EURUSD simply got rid of some of its overbought status after renewing the yearly high of 1.1280. From a market perspective, this does not change much: the US dollar remains weak due to the anticipation of decisions by the […]

TitleAUDUSD H4 | Bounce off Support level? TypeBullish Bounce Preference: Price is falling to  our pivot point of 0.67173 which is a pullback support level that aligns with 61.8% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 0.67907 which is a pullback resistance level Alternative scenario:However, if price breaks […]

TitleXAUUSD H4 | Bearish reversal TypeBearish Reversal Preference:If price breaks above the pivot point, it could hit the 1st resistance at 2004.088. Alternative scenario:However, if price breaks above the pivot, it could rally to 1st resistance at 1970. To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access […]

EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.1242. Currently, the range has expanded upwards to 1.1275, and an impulse of decline to 1.1208 has formed. A link of growth to 1.1242 is expected today with a test from below. Next, a decline to 1.1200 might follow. And with […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In these circumstances, a test of 3/8 (139.84) is expected, followed by a rebound from this level and a decline to the support level of 1/8 […]

Core CPI Rises The final eurozone CPI readings for June, released today, confirmed headline CPI at 5.5%, as expected. However, core CPI was once again seen rising slightly to 5.5% from 5.4% prior. Stickiness in inflation at elevated levels has been a major issue for the ECB and is keeping hawkish expectations entrenched. The ECB […]

TitleGBPUSD H4 | Bounce off support level? TypeBullish Bounce Preference: Price is falling to our pivot point of 1.28511 which is a pullback support level that aligns with 50% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 1.3136. Alternative scenario: However, if price breaks below the pivot, it could […]