Category: Technial Analysis
The major currency pair is moderately retreating on Tuesday. The current EURUSD quote is 1.0910. The beginning of the week has been calm, bringing no significant news. Given this, the market has focused on what it already knows: the decision of the US Federal Reserve to pause its series of monetary policy tightening and prepare […]
AUD Under Pressure The Australian Dollar has softened today on the back of the release of the latest RBA meeting minutes overnight. Following a second, unexpected rate-hike at the last meeting, expectations ahead of the minutes were mostly hawkish. Given the recent increases, traders were looking for clear signs that the bank intends to press […]
TitleGBPUSD H4 | Potential bounce off support level TypeBullish Bounce Preference: Price is falling towards our pivot point of 1.26815, which serves as a pullback support level. It aligns with both a 38.2% Fibonacci retracement and a 50% Fibonacci retracement, creating a Fibonacci confluence zone. A bounce off from here, price could rally to 1st […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD broke the level of 8/8 (0.6835) on H4 and escaped the overbought area. The RSI has broken the support line. In this situation, a test of 7/8 (0.6774) is expected, followed by a breakout of this level and a decline to the support at 6/8 (0.6713). The scenario […]
The Australian dollar is losing weight against the US dollar. The current AUDUSD quote is 0.6803. The Reserve Bank of Australia published the minutes of its latest meeting, and their content left investors perplexed. The RBA did consider the possibility of suspending the monetary tightening cycle at its June meeting, but ultimately decided otherwise. The […]
Crude Testing Resistance Crude oil prices are continuing to push higher across the European morning on Tuesday. Crude futures are on course for their third consecutive positive day so far, now up around 8% from last week’s lows. The market continues to be buoyed by expectations for a large new Chinese fiscal stimulus package on […]
Daily Market Outlook, June 20, 2023 Munnelly’s Market Commentary… Most Asian equity markets experienced a decline in the absence of guidance from Wall Street, as the Juneteenth holiday and the People’s Bank of China’s (PBoC) reduction in benchmark lending rates influenced market sentiment. The release of Reserve Bank of Australia (RBA) Minutes from the June […]
EURUSD, “Euro vs US Dollar” EURUSD has secured under the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0885 is expected, followed by a rise to 1.1045. An additional signal confirming the rise will be a rebound from the lower border of […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a structure of a wave of decline to 1.0907 and a correction to 1.0926. A decline to 1.0878 might follow today. Next, a consolidation range is expected to develop around this level. With an escape from the range downwards, the potential for a wave of […]
TitleUSDJPY H4 | Bullish reversal from 38.2% Fibo TypeBullish Bounce Preference:Price is falling towards the pivot point of 141.324 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 142.285. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 140.792. To […]