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Forex

Daily Market Outlook, May 9, 2024

Daily Market Outlook, May 9, 2024Munnelly’s Macro Minute…“Bank of Japan Hawkish Rhetoric Does Little To Support JPY, Bank Of England On Deck Next”The Asia-Pacific equity markets are showing mixed...

Pullback Resistance at 38.2% Fibonacci Retracement

TitlePullback Resistance at 38.2% Fibonacci RetracementTypeBearish ReversalPreference:Price is rising towards the pivot point of 1.2539 which is a pullback resistance that aligns close to the 38.2%...

Falling to Pullback Support

TitleFalling to Pullback SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 0.9065 which is a pullback support that aligns with the 38.2% Fibonacci retracement level and...

EURUSD Resilience Amid ECB Rate Cut Speculation and US Dollar Volatility

EURUSD showcased resilience on Thursday, discovering robust buying interest near 1.0750. This resilience comes amidst escalating speculation surrounding the European Central Bank's potential...

Gold Forecast: Potential Price Drop Ahead

The price of Bitcoin broke the local downtrend. Currently, it keeps moving within the range. The price of this asset might potentially rebound from the broken downtrend and rise to the level of 69000....

Bearish GBPUSD Risks Into BOE Today

BOE On DeckAll eyes are on the Bank of England today as it meets for its May monetary policy meeting. Today’s meeting will be one of the bank’s ‘super Thursday’ events, meaning the rate decision,...

Intervention Risks Return as USDJPY Pushes Higher

JPY Weakening AgainThe Japanese Yen is coming under fresh pressure this week, despite recent suspected intervention from Japanese authorities. While details regarding last week’s volatility in JPY FX...

Euro Slips Against Dollar as Central Bank Commentary Steers Markets

The EUR/USD pair has experienced a slight downturn to 1.0750 during Wednesday's early American session. This movement has been propelled by the ascent of the US Dollar, spurred by significant...

Potential Bullish Reversal

TitlePotential Bullish ReversalTypeBullish BouncePreference:Price is trading close to the pivot point of 1.0740 which is a pullback support that aligns with the 50.0% Fibonacci retracement level and...