Category: Technial Analysis
TitleEURUSD H4 | Running into resistance TypeBearish Reversal Preference:Price could approach the pivot point at 1.09183 and potentially reverse from here; we could see momentum carry price down to its 1st support at 1.08432. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.09646. To discuss this trading idea, […]
ADP Employment Soars The US Dollar rose on the back of a slew of positive data prints yesterday. Both the ADP employment number and the ISM services PMI came in well above expectations. For the APD reading, jobs were seen at 497k, well above the 226k the market was looking for and up sharply from […]
Brent Brent quotes have broken the 200-day Moving Average on H4 and are now above it, indicating a probable development of an uptrend. The RSI has rebounded from the support line. In this situation, further growth to the resistance level of 6/8 (78.12) is to be expected. The scenario can be cancelled by a downward […]
The BTC dropped to 3,0119 USD by Friday. Investor activity decreased after the BTC breached the 31,000 USD mark. However, there are still reasons for the cryptocurrency to continue rising. Once the market secures above 31,150 USD, it is expected to head towards 33,000-34,000 USD. According to the latest news, the BlackRock fund has initiated […]
TitleUSDJPY H4 | Potential bearish reversal TypeBullish Bounce Preference: Price is falling toward our pivot point of 142.098 which is a pullback support level that aligns with 50% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 143.896 which is a pullback resistance level Alternative scenario: However, if price below […]
TitleXAUUSD H4 | React off resistance TypeBearish Reversal Preference: Price is currently at our pivot point of 1912.723 which is an overlap resistance. A reverse from here, price could fall to 1st support at 1894.686 which is a swing low support level Alternative scenario:However, if price breaks above the pivot, it could rally to 1st […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD 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 border of the Cloud at 1.2705 is expected, followed by a rise to 1.2870. An additional signal confirming the rise will […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.3300. Next, the price could break the level and go further by the downtrend. However, the quotes might rise to 1.3440 […]
Threads Takes on Twitter Shares in Meta are trading higher today ahead of the open as the stock receives a bullish boost from the launch of new Twitter rival Threads. The new app, which takes its users profile name, pictures and contacts over from Instagram on signup, has reportedly gained around 10 million users in […]
Daily Market Outlook, July 06, 2023 Munnelly’s Market Commentary… Asian equity markets mostly traded lower, influenced by weak global data releases, a rising yield environment, and limited guidance from the FOMC Minutes regarding future rate increases. The Nikkei 225 faced selling pressure after falling below the 33K handle. The Hang Seng and Shanghai Comp also […]