Category: Technial Analysis
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 Kijun-Sen line at 1.2475 is expected, followed by a rise to 1.2685. An additional signal confirming the rise will be a rebound […]
FOMC In View The US Dollar is having a quieter start to the week as traders prepare for the June FOMC meeting on Wednesday. Market expectations are generally built around the Fed pausing rates at this meeting with CME pricing for a pause sitting around 75%. However, the wider focus is likely to be on […]
GDP Outlook Improving GBPUSD is trading back up towards the YTD highs today, extending gains seen across the back of last week, as sentiment towards the UK currency turns more favourable. The latest set of figures from the CBI showed an upward revision to UK GDP forecasts for this year and next. These now sit […]
Daily Market Outlook, June 12, 2023 Munnelly’s Market Commentary… Asian equity markets traded with a mixed tone as the region approached a week filled with significant risk events, including major central bank meetings and data releases. The Nikkei 225 initially displayed strong performance, advancing and testing the 32,500 handle as market participants anticipated that the […]
TitleGBPUSD Day | React off resistance TypeBearish Reversal Preference: Price is currently at our pivot point of 1.25776 which is a pullback resistance level. A reverse from here. price could fall to 1st support at 1.25266 which is a pullback support level. Alternative scenario: However, if price breaks above the pivot, it could rally to […]
According to the Atlantic Council, foreign investors have been selling Chinese stocks in large numbers over the past two years, disappointed by the strengthening influence of Xi Jinping and the growing geopolitical tensions. The outflow of investors is related to the increasing investment risk in China, analysts believe. Unfavorable economic indicators in China lately, particularly […]
The dollar hit a corrective low yesterday following the release of US labor market data: The US Dollar Index (DXY) fell below the 104.40 level, marking a low point in the retracement since the beginning of June, which sparked some buying interest around 103.30 as discussed in the previous article. Breaking below the horizontal low […]
TitleBCOUSD H4 | Bullish reversal from support TypeBullish Bounce Preference:Price could approach the pivot point of 73.595 and potentially reverse from here; we could see momentum carry price up to its 1st resistance of 77.79. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 71.606. To discuss this trading […]
TitleEURUSD H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is currently at our pivot point of 1.07753 which is a swing high resistance level. A reverse from here, price could fall to 1st support at 1.0677 which is a multi swing low support level. Alternative scenario: However, if it breaks above the pivot, it […]
TitleUSDCHF H4 | Bounce off Fibo confluence TypeBullish Bounce Preference: Price has just bounced off from our pivot point of 0.89806 which aligns with a 50% and 78.6% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 0.90981 which is a swing high resistance level. Alternative scenario:However, if it breaks […]