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TitleEURUSD H4 | Potential bullish bounce?TypeBullish BouncePreference:The price could bounce off our pivot point at 1.07567,   a pullback support and rise towards our 1st resistance at 1.08296, an overlap resistance.Alternative scenario:The price could break the pivot point at 1.07567 and fall to the 1st support at 1.06613, a pullback support.To d

TitleGBPUSD H4 | Rising to 1st resistance?TypeBullish BouncePreference:The price is on the pivot point at 1.25689, an overlap support. It could bounce off pivot point and rise to 1st resistance level at 1.27206, an overlap resistance.Alternative scenario:Price will break through pivot point and fall to the 1st support level at 1.23732,  an overlap

USD Falls on Weak ADP NumberThe US Dollar is softening today on the back of yesterday’s ADP employment number, with gold prices rising as a result. The figure came in at 103k, down from 106k prior and well below the 131k the market was looking for. On the back of the release, traders are now […]

Title:USDCHF Day I Falling from Fibo confluence?TypeBearish ReversalPreference:The price is rising toward our pivot point of 0.8886, which serves as a pullback resistance level aligning with the 38.2 and 50% Fibonacci.A reversal from this point could lead the price to drop to the 1st support at 0.86199Alternative scenario:However, if the price brea

Daily Market Outlook, December 7, 2023Munnelly’s Market Commentary… Asia – Stocks in the region experienced a decline due to negative sentiment in the wake of weak labour data from Wall Street. Mixed trade figures from China, which showed an expansion in exports but a contraction in imports, also contributed to the subdued market. The Nikkei

USDJPY Continues LowerThe Japanese Yen is rallying firmly against the Dollar today with USDJPY extending its recent decline. The pair has fallen from high of around high 151 to current levels around low 145. The shift in outlook on the Fed has been the main driver of the move lower in recent months. However, the […]