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GBP Rallying on Better PMIsThe British Pound is seeing firm demand across the European morning on Wednesday. GBPUSD is up around 0.72% on the day and close to testing current 2024 highs following some better UK data this morning. The latest round of UK PMIs came out better than forecast for last month with the […]

Tesla Earnings DueAs Tesla gears up to announce its Q4 earnings later today, the stock is sitting around 30% down from the 2023 highs recorded last summer. The undershoot on Q3 earnings put an end to a 10-quarter winning streak for Tesla and traders are now keen to see whether earnings were back in the […]

TitleFalling to 38.2% Fibo SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 103.098 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 103.436 which is a pullback resistance level.

TitleRising into Overlap ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 2.08436 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 2.07203 which is a pullback support that alig

Yen Rally Knocks USDThe Dollar rally looks to be taking a breather midweek with the DXY pulling back from the latest test of 103.48 resistance. An uptick in Japanese yields on the back of the latest BOJ meeting this week has helped divert attention away from the Dollar. The BOJ’s comments around inflation and their […]

TitleEURGBP Day | Bouncing off support levelTypeBullish BouncePreference:The price is on the pivot point at 0.85515, the multi-swing low support, price could bounce off the level and rise to 1st resistance level at 0.8687, the swing-high resistance level.Alternative scenario:It could breakout of the pivot point and fall to 1st support level at 0.85

TitleEURJPY H4 | Bearish breakoutTypeBearish BreakoutPreference:The current price is on a down trend, once it breaks the pivot point at 160.63, the pullback support aligning with 38.2% Fibonacci retracement level, price might fall to 1st support at 159.424, the overlap support.Alternative scenario:The price could bounce off the pivot point and rise

Daily Market Outlook, January 24, 2024Munnelly’s Market Minute…“China Restricts Short Selling &amp; PBoC Cut RRR BY 0.5%”Asian markets traded with mixed results, influenced by the performance of Wall St, corporate earnings, and recent statements from the Bank of Japan. The Nikkei 225 was under pressure due to rising Japanese bond yields and a m

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