Category: Technial Analysis
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the upper border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2465 is expected, followed by a rise to 1.2690. An additional signal confirming the rise will be a […]
EURUSD, “Euro vs US Dollar” The currency pair has formed a consolidation range around 1.0730 and suggests a correction to 1.0743 with a breakout from the range upwards. After the price reaches this level, a link of decline to 1.0702 is expected, followed by a rise to 1.0822. GBPUSD, “Great Britain Pound vs US Dollar” […]
US Jobs On Watch The latest set of US labour market data tomorrow is drawing plenty of attention. While the NFP is typically one of the most market-moving data points each month, given the shift in Fed expectations we’ve seen recently, tomorrow’s data might prove even more eventful. Traders will be looking to tomorrow’s data […]
Daily Market Outlook, June 01, 2023 Munnelly’s Market Commentary… Most Asian equity markets experienced positive trading overnight following the passage of the debt ceiling bill by the US House of Representatives, which helped avert a potential default. The bill has now moved to the Senate for consideration. Additionally, market sentiment was boosted by the unexpected […]
TitleEURJPY H4 | Bullish breakout TypeBullish Breakout Preference:Price is approaching the pivot point of 149.164 and could potentially break out to the upside from here; we could see momentum carry price up to its 1st resistance of 149.813. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 148.575. To […]
TitleEURGBP H4 | Heading towards 38.2% Fibo resistance TypeBearish Reversal Preference:Price could approach the pivot point of 0.86287 and potentially reverse from here; we could see momentum carry price down to its 1st support of 0.85868. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.86639. To discuss this […]
The major currency pair remains in a weak position on Thursday. The current EURUSD quote is 1.0680. The US House of Representatives passed a bill to raise the country’s national debt ceiling yesterday. The initiative was supported by 314 politicians while 117 politicians voted against it. This is now subject to the Senate’s approval. The […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF is pushing off the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.9055 is expected, followed by a rise to 0.9245. An additional signal confirming the rise will be a rebound from the lower border […]
ISM Manufacturing Expected 47, 47.1 Previous Today’s US ISM Manufacturing number will be closely watched on the back of the PMI weakness we’ve seen recently. The US factory sector has been trending lower over recent months with the index moving deeper into negative territory last month. The recent trend of data has raised concerns over […]
Market View Shifts Again In recent times, it’s hard to remember an upcoming Fed rate decision which has seen more swings market expectations. Market pricing for a further hike in June has jumped back and forth several times over the last month and, even this week. Starting the week with a rate hike priced at […]