Category: Technial Analysis

EURUSD, “Euro vs US Dollar” The currency pair continues developing a wide consolidation range around 1.0770. At the moment, the market has extended it to 1.0820. Today the price has completed a declining impulse to 1.0777 and a correction of this impulse to 1.0808. The market is now forming a new structure of decline to […]

Apple Rally Picks Up Again Apple shares were seen rallying back up towards all time highs yesterday before softening once again and now trading a touch lower pre-market. The stock has been buoyed recently by the shift in Fed expectations with traders now looking for the Fed to hold off from a further rate hike […]

TitleUSDCHF H4 | Bullish reversal from 61.8% Fibo TypeBullish Bounce Preference:Price is falling towards the pivot point of 0.90296 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 0.91049. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.89898. To […]

The dollar correction is in full swing as sellers explore new June lows, and this was largely influenced by the moderately positive CPI report for May: The core inflation retreated from 5.5% to 5.3%, in line with expectations, while headline inflation was slightly lower at 4% YoY compared to the consensus forecast of 4.1%. The […]

Demand Woes Weigh on Crude Crude prices are stabilising today after dropping sharply yesterday. Crude futures fell almost 5%, trading down to their lowest level since early May before buyers stepped in to stem the decline. The move lower was primarily driven by fresh demand concerns. On the back of the EIA last week projecting […]

The British pound sterling has returned to growth against the US dollar. The current GBPUSD quote is 1.2560. The British statistical data published the day before came out mixed and highly interesting. The unemployment rate dropped to 3.8% in the three months ending in April against the 4.0% forecast. The growth rate of average earnings […]

Daily Market Outlook, June 13, 2023 Munnelly’s Market Commentary…  Asian equity markets traded mostly higher, taking cues from the gains on Wall Street. The S&P 500 and Nasdaq 100 reached their highest levels in a year, supported by the strong performance of big tech companies. Yields softened ahead of upcoming risk events, contributing to the […]

TitleGBPUSD H1 | Potential bearish reversal TypeBearish Reversal Preference: Price is currently at our pivot point of 1.25653 which lines up with a 78.6% Fibo retracement. A reverse from here. price could fall to 1st support at 1.25007 which is a pullback support level Alternative scenario:However, if price breaks above the pivot, it could rally […]

The major currency pair strengthened on Tuesday. The current EURUSD quote is 1.0800. The focus is on the Central Bank meetings, as the announcement of their decisions can significantly impact currency volatility. The US Federal Reserve begins its two-day meeting today and is expected to announce the level of the interest rate on Wednesday. It […]

EURUSD, “Euro vs US Dollar” On H4, EURUSD quotes rose above 0/8 (1.0742) and escaped the oversold area. The RSI has rebounded from the support line. In these circumstances, an upward breakout of 1/8 (1.0803) is expected, followed by a rise to the resistance level of 2/8 (1.0864). The scenario can be cancelled by a […]