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Forex

EURUSD H4 | Potential Bearish Reversal?

TitleEURUSD H4 | Potential Bearish Reversal?TypeBearish ReversalPreference:Price is rising towards our pivot point of 1.10397 which is an overlap resistance. A reverse from here, it could fall to 1st...

Dollar Gains Ground Awaiting Inflation Report as US Labor Market Shows Signs of Weakness

The dollar recovers on Monday after mixed NFP report released last Friday. Job gains fell short of the modest forecast of 200K, coming in at 187K, which greatly disappointed fixed income bears who was...

GBPUSD H4 | Falling to 61.8% Fibo support

TitleGBPUSD H4 | Falling to 61.8% Fibo supportTypeBullish BouncePreference:Price is falling towards the pivot point of 1.26708 which is an overlap support that aligns with the 61.80% Fibonacci...

GBPJPY False Downside Break Gives Bulls Hope

GBPJPY Sitting on Key SupportGBPJPY price action is looking interesting here. The pair is essentially trading in range between 179.95 and 184.33, reflecting a pause in upside momentum on the back of...

USDCAD Day | Potential bearish reversal?

TitleUSDCAD Day | Potential bearish reversal?TypeBearish ReversalPreference:Price is currently at our pivot point 1.33807 which is an overlap resistance that aligns with 50% Fibo retracement. if it...

EURUSD Testing Trendline Support

EUR Lower Following ECBEURUSD is starting the week on a softer footing as the pair continues to hold near the foot of the recent correction lower. The latest ECB meeting saw the bank hiking rates by a...

Daily Market Outlook, August 7, 2023

Daily Market Outlook, August 7, 2023Munnelly’s Market Commentary… Asian equity markets started the week on a mostly negative note, influenced by last Friday's late decline in Wall Street. The...

EURUSD H4 | Falling to 78.6% Fibo support

TitleEURUSD H4 | Falling to 78.6% Fibo supportTypeBullish BouncePreference:Price is falling towards the pivot point of 1.09221 which is an overlap support that aligns with the 78.60% Fibonacci...

BOE Hikes By Smaller Amount but Hawkish Risks Remain

Smaller Hike for NowDespite chatter around a possible .5% rate hike yesterday, in the end the BOE opted for a smaller .25% hike. The BOE cited the recent inflation drop as the key driver behind the...