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Forex

Daily Market Outlook, May 23, 2024

Daily Market Outlook, May 23, 2024Munnelly’s Macro Minute…“Nvidia Earnings Beat Sees US Markets Soar To New All Time Highs ”Following the release of positive quarterly results by Nvidia, US market...

AUDUSD H4 | Falling to 61.8% Fibonacci Support

TitleAUDUSD H4 | Falling to 61.8% Fibonacci SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 0.6619 which is an overlap support that aligns with the 61.8% Fibonacci...

GBPUSD Rally Losing Steam

USD Rally Stunts GBPUSD RiseThe rally in GBPUSD has stalled into the back end of the week amidst an uptick in USD on hawkish Fed commentary and weaker-than-forecast UK data.  On the Dollar front,...

GBPUSD H4 | Bullish continuation

TitleGBPUSD H4 | Bullish continuationTypeBullish BouncePreference:Price has bounced off the pivot of 1.2695 (overlap support) A rise from this level could lead the price to rise to 1st resistance at...

EUR/USD Leaps on Weak USD and Strong Eurozone PMI Data

The EUR/USD pair saw a remarkable uptick, bouncing back strongly after bottoming out near the crucial 1.08 support level during Thursday’s American session. This surge comes on the heels of a softer...

Pullback Resistance at 61.8% Fibonacci Retracement

TitlePullback Resistance at 61.8% Fibonacci RetracementTypeBearish ReversalPreference:Price is rising towards the pivot point of 1.3693 which is a pullback resistance that aligns with the 61.8%...

EURUSD H4 | Bearish reversal

TitleEURUSD H4 | Bearish reversalTypeBearish ReversalPreference:Price is rising toward the pivot of 1.0843, a pullback resistance. A reversal from this level could lead the price to fall to 1st...

Dollar Climbing on Hawkish Fed Comments

USD RecoveringThe US Dollar continues to grind higher as the greenback recovers further ground on the back of last week’s inflation-driven fall. Data last Wednesday showed that US CPI cooled for the...
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Pound Rises As Inflation Disappoints Doves

CPI Slightly Above TargetGBPUSD is trading higher today on the back of the latest set of UK inflation figures released this morning. Annualised headline CPI in April was seen cooling further from 3.2%...