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Forex

Daily Market Outlook, March 6, 2024

Daily Market Outlook, March 6, 2024Munnelly’s Macro Minute…“UK Budget & Powell Testimony Main Macro Drivers Today”Asian equity markets exhibited a mixed performance ahead of Fed Chair...

Heading into Resistance

TitleHeading into ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 1.08657 which is a multi-swing-high resistance level and could potentially reverse from here; we...

Approaching Pullback Support

TitleApproaching Pullback SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 149.762 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and...

Turbulent Times Ahead: USD Under Pressure Ahead of Powell Testimony

The US Dollar finds itself ensnared in a tumultuous market landscape, grappling with conflicting data and wavering projections on Federal Reserve policy. As traders brace for the semi-annual testimony...

Falling to 61.8% Fibonacci Support

TitleFalling to 61.8% Fibonacci SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 0.88249 which is a pullback support that aligns with the 61.8% Fibonacci retracement...

Dollar Holding Support Ahead of Data

US Data DueThe US Dollar continues to trade in a very tight range ahead of today’s US ISM services PMI. Price action in DXY has stagnated over the last week in response to a slew of...

EURGBP Day | Potential bullish breakout

TitleEURGBP Day | Potential bullish breakoutTypeBullish BreakoutPreference:The price is on the pivot at 0.85536and it could continue to trend higher and breakout of the pivot point. A breakout could...

GBPJPY H4 | Potential bullish bounce

TitleGBPJPY H4 | Potential bullish bounceTypeBullish BouncePreference:The price is on a downtrend and could fall to the pivot point at 189.989, the pullback support that aligns closely with the 50%...

Dollar Braces for a Second Retest of the Key Resistance Level

On the backdrop of Super Tuesday and anticipation surrounding the potential resurgence of former US President Donald Trump in the Republican Party, the US Dollar commenced the week with a vigorous...