Category: Technial Analysis
TitleEURUSD H4 | Reversal from recent swing-high TypeBearish Reversal Preference:Price is rising towards the pivot point of 1.09549 and could potentially reverse from here; we could see momentum carry price down to its 1st support of 1.09076. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 1.10008. To discuss […]
Daily Market Outlook, June 19, 2023 Munnelly’s Market Commentary… Asian equity markets traded in negative territory overnight as investors reacted to the losses on Wall Street from Friday. Market sentiment was also tempered as participants absorbed the outcome of US-China talks, and with US markets closed on Monday in observance of Juneteenth. The Nikkei 225 […]
TitleXAUUSD H4 | Potential bullish breakout TypeBullish Breakout Preference:Price is approaching the pivot point of 1966.738 and could potentially move higher from here; we could see momentum carry price up to its 1st resistance of 1986.511. Wait for price to break through the pivot point first and then pull back before bouncing higher. Alternative scenario:If […]
The major currency pair is holding steady near its peak levels on Monday. The current EURUSD quote is 1.0940. After the European Central Bank confirmed its hawkish approach towards interest rates, the euro gained favour. Although this was expected, it was still impressive. The beginning of the week brings little significant macroeconomic statistics, and investors […]
Bitcoin Recovering Following steady selling over recent months, Bitcoin bulls were given some sign of hop late last week as BTC futures jumped more than 7%. The rally comes amidst a weakening of the US Dollar as traders scale back their Fed rate projections on the back of the FOMC. The Fed paused its tightening […]
The dollar is gradually recovering after major losses last week: The plunge occurred on Thursday following the release of the US import price data. In May, import prices declined by 0.6% for the month, allowing market participants to reassess the level of expected US inflation and consequently the likelihood of a July tightening by the […]
EURUSD, “Euro vs US Dollar” On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is nearing the support line. In these circumstances, a rebound from 3/8 (1.0925) is expected, followed by a rise to the resistance at 5/8 (1.1074). The scenario can be cancelled by a […]
The BTC exchange rate is hovering around 26,415 USD on Monday. It has seen a decent rise compared to Friday’s levels, and there are fundamental reasons for it, but the cryptocurrency still appears shaky. The sellers have eased their pressure. At least the key trigger that had been weighing on prices in recent weeks has […]
Bitcoin rebounded from the supporting level of 25200 and formed the hammer at the end of the trading week. The asset is likely to enter the resistance zone formed between levels 30000 and 31000, rebound, and drop. So, Bitcoin is now in the range as can be seen in the figure below. Brent oil is […]
Mixed BOE Expectations On the back of the Fed and ECB meetings last week, the BOE steps into the limelight this week. Traders are widely expecting the bank to push ahead with a fresh rate hike this month. However, beyond that point, expectations are more mixed. Some players are looking for the bank to press […]