Category: Technial Analysis
NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 0.6155 is expected, followed by a rise to 0.6285. An additional signal confirming the rise will be a rebound […]
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Intervention Coming? Speculation over potential Japanese intervention in FX markets is helping underpin the Yen today. USDJPY is holding around the 145 level, a price point which has previously prompted intervention from Japanese authorities. Last September, the government and the BOJ acted in tandem to help influence FX rates for the first time in over […]
Daily Market Outlook, July 04, 2023 Munnelly’s Market Commentary… Wall Street saw slight gains in a range bound trading session ahead of the Independence Day holiday. The market remained cautious, and upside momentum was limited. Investors digested the weak US ISM Manufacturing PMI data as holiday-thinned trading conditions pinned the price action. Asian markets traded […]
The FTSE Finish Line – July 04 – 2023 FTSE Flatlining With US Investors Offline For July 4th Holiday On Tuesday, the UK’s FTSE 100 index remained relatively unchanged, down 0.09%. The index, which is heavily influenced by commodity stocks, has seen limited gains so far this year due to concerns about a global economic […]
TitleAUDUSD H4 | Bearish Reversal off 38.2% Fibo TypeBearish Reversal Preference: Price is approaching the pivot point at 0.6717. Price may react to this high due to the 38.2% Fibo retracement level, and could continue its bearish momentum towards the 1st support level at 0.66406. Alternative scenario:If price breaks above the previous high, it could […]
The Japanese yen, paired with the US dollar, has paused its devaluation. The current USDJPY quote is 144.59. For four days in a row, there has been no change for the yen, with the devaluation scenario remaining dominant, while there are no reasons for a correction. The statistics released yesterday showed that the Tankan non-manufacturing […]
TitleXAUUSD H4 | Bearish reversal off 50% Fibo TypeBearish Reversal Preference:Price is approaching our pivot point at 1931.09 which is an overlap resistance that aligns with the 50% Fibo retracement. Price could then become bearish and head towards the 1st support level at 1912.25. Alternative scenario:If price breaks above the pivot point, price could potentially […]
What is OPEC? The Organization of the Petroleum Exporting Countries (OPEC) is a collective organization of 13 oil-producing nations that aims to coordinate and unify their petroleum policies. Established in 1960, OPEC’s member countries include Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela. What […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are under the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In these circumstances, a test of 4/8 (0.6591) is expected, followed by a breakout and a decline to the support at 3/8 (0.6530). The scenario […]