GBP Under PressureGBP is turning lower today on the back of comments yesterday from BOE governor Andrew Bailey who noted that BOE rates are likely near their peak. On the back of 14 consecutive rate...
Gold Bears Remain in Control: What’s Next?
Gold is heading down and gradually approaching the supporting zone formed between the levels 1900 and 1913. The asset might potentially rebound from this zone and jump to target the downtrend. So,...
Daily Market Outlook, September 7, 2023
Daily Market Outlook, September 7, 2023Munnelly’s Market Commentary… Asian equity markets faced headwinds as they followed the negative lead from the US, where both stocks and bonds retreated in...
Risk Appetite on the US Stock Market Wanes Amid Inflation Concerns
On Wednesday, appetite for risk in US equities decreased, with major stock indices finishing the session slightly in the red. The American market successfully passed the bearish baton to Asian and...
EURUSD H4 | Rising toward 1st resistance?
TitleEURUSD H4 | Rising toward 1st resistance?TypeBullish BouncePreference:The price has just bounced off the pivot point at 1.0722, which is a multi-swing low support level. A bounce from this level...
Downside Risks for Aussie As Trade Surplus Shrinks
Aussie Trade Data Fuels ConcernsData overnight showed that the Australian trade surplus narrowed sharply last month. The Australian Bureau of Statistics reported a trade balance of AUD 8.04 billion...
CAD Plunging Ahead of BOC
BOC on WatchThe Bank of Canada meets for its September rate-setting meeting today and while no further policy adjustments are expected, traders will be keeping a close eye on the bank’s forward...
USDCAD H4 | Bullish bounce off 38.2% Fibo?
TitleUSDCAD H4 | Bullish bounce off 38.2% Fibo?TypeBullish BouncePreference:Price is falling towards the pivot point of 1.36026 which is an overlap support that aligns with the 38.2% Fibonacci...
AUDUSD H4 | Bearish reversal off 23.6% Fibo?
TitleAUDUSD H4 | Bearish reversal off 23.6% Fibo?TypeBearish ReversalPreference:Price is rising towards the pivot point of 0.64005 which is a pullback resistance that aligns with the 23.6% Fibonacci...
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