Category: Technial Analysis
Shop Prices Fall… Slightly On the back of a string of recent upsets, there was at last some good news for the UK today. The BRC shop price monitor for the last month showed that prices cooled to 8.4% from the prior month’s 9%. While obviously, still at elevated levels, the data is at least […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern on H4 near the support level. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the resistance level at 1.1000. However, the price could correct to 1.0855 and continue the uptrend after the test […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going inside the Ichimoku Cloud, which suggests sideways dynamics. A test of the lower border of the indicator at 1.2680 is expected, followed by a rise to 1.2970. A signal confirming the rise will be […]
Daily Market Outlook, June 27, 2023 Munnelly’s Market Commentary… Asian equity markets had a mixed performance overnight as the risk sentiment gradually improved following a mostly negative performance in the US market. The major indices in the US were subdued as the quarter-end approached, with the Nasdaq underperforming due to weakness in the technology and […]
HSBC Opens Up Bitcoin Access Following a sharp rally last week which saw Bitcoin prices breaking out to fresh highs for the year, the leading crypto asset has since cooled a little, falling back below that prior 2023 high. However, with price up more than 20% off the June lows, bullish momentum is still very […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD has broken the 200-day Moving Average on H4 and is above the line now, revealing the probable development of an uptrend. The RSI is testing the resistance line. As a result, a test of 7/8 (0.6774) is expected, followed by a breakout and a rise to the resistance […]
The market’s most traded currency pair is rising on Tuesday. The current EURUSD quote is 1.0930. The macroeconomic calendar did not give the market any reasons for currency movements at the beginning of the week. The background was subdued, allowing investors a short pause. Things are about to change today. This morning has already given […]
TitleAUDUSD H4 | Potential bounce off support level TypeBullish Bounce Preference: Price is falling to to our pivot point of 0.66357 which is an overlap support level that aligns with 61.8% Fibo retracement and 78.6% Fibo Projection. A bounce off from here, price could rally to 1st resistance at 0.67063 Alternative scenario:However, if price breaks […]
TitleEURUSD H4 | React off 38.2% TypeBearish Reversal Preference: Price is currently at our pivot point of 1.09038 which aligns with a 38.2% Fibo retracement. A reverse from here, price could fall to 1st support at 1.08497 which is an overlap support. Alternative scenario: However, if price breaks above the pivot, It could rally to […]
The Australian dollar is consolidating after a crash against the US dollar. The current AUDUSD quote is 0.6685. After the decisive steps made by the RBA, investors are pausing to sort out their portfolios and calm down their nerves. All the important statistics have already been published, so it is time to account for it […]