Category: Technial Analysis
TitleXAUUSD H4 | Potential bullish reversal TypeBullish Bounce Preference: Price is falling to our pivot point of 1954.785 which is an overlap support level that aligns with a 50% Fibonacci retracement, A reverse from here, price could rally to 1st resistance at 1966.088 which is a multi swing high resistance Alternative scenario:However if price breaks […]
TitleNZDUSD H4 | Potential Bullish Divergence TypeBullish Bounce Preference:Pirce is currently at our pivot point of 0.60064 which is a swing low support level. A bounce off from here, price could rally to 1st resistance at 0.61116 which is a pullback resistance level Alternative scenario:However, if price breaks below the pivot, it could fall to […]
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 […]