TitleUSDJPY H4 | Reacting off the resistance level?TypeBearish ReversalPreference:Price has just reacted off our pivot point of 147.734, which serves as a multi-swing high resistance level. A reversal...
USDCAD Stalls At Resistance Following BOC
BOC Holds Rates SteadyThe Canadian Dollar has been a little firmer on the back of the September BOC meeting yesterday. The bank held rates unchanged at 5%, as expected, though signalled that further...
GBP Under Pressure Following BOE Rates Comments
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...
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