Category: Technial Analysis
The main currency pair looks stable on Monday. The current quote in EURUSD is 1.0910. According to previously released data, the Core Personal Consumption Expenditure (Core PCE) price index in the US rose 0.3% m/m in June against a forecast increase of 0.2% and a previous rise of 0.4%. On a year-on-year basis, the increase […]
Deliveries Soar in Q2 Shares in Tesla are trading higher ahead of the open today. The firm announced record new deliveries in Q2, well above Wall Street estimates. Elon Musk’s flagship company reported Q2 deliveries of 466k vehicles, around 5% higher than the 445k units the market was looking for. At this level, deliveries recorded […]
Manufacturing PMI on Watch The US Dollar is back in focus today with the latest US ISM manufacturing reading due later. Recent strength in US data has been feeding into market expectations of fresh tightening from the Fed. Pricing for a hike this month has jumped from around the 50% mark a few weeks ago […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of growth to 1.1001. The market has formed a consolidation range under this level and today is being pushed down to its lower border. With an escape from the range downwards, the potential for yet another wave of decline to 1.0570 could open. After the […]
EURUSD, “Euro vs US Dollar” EURUSD on H4 is above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the price is expected to break the level of 3/8 (1.0925) and rise to the resistance level of 5/8 (1.1074). The scenario can be cancelled […]
TitleGBPUSD H4 | Potential bounce off support level TypeBullish Bounce Preference: Price is falling toward our pivot point of 1.25925 which is an overlap support level that aligns with a 50% Fibo retracement. A reverse from here, price could push up to 1st resistance level at 1.27071 Alternative scenario: However, if price breaks above the […]
Swiss Inflation Cools The Swiss Franc has weakened today on the back of the latest Swiss inflation numbers. CPI for last month was seen rising just 0.1%, down from 0.3% prior and below the 0.2% the market was looking for. On the back of the SNB hiking rates last month, the data serves as further […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.2685 is expected, followed by a decline to 1.2440. An additional signal confirming the decline will be a rebound […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern near the support level. The instrument is now going by the reversal signal in a corrective wave. The growth target might be 1930.00. Upon testing the resistance, the price could rebound from it and continue the downtrend. However, the quotes could drop to […]
Daily Market Outlook, June 30, 2023 Munnelly’s Market Commentary… Asian equity markets traded cautiously into month & quarter end, with modest gains against the backdrop of a higher yield environment. Market participants were digesting a series of data releases at the end of the quarter, including the latest official PMIs from China. The Nikkei 225 […]