In the aftermath of the second US Gross Domestic Product (GDP) reading, the US Dollar (USD) finds itself off its intraday high, grappling with the nuanced implications of the unveiled data. While the...
Daily Market Outlook, February 29, 2024
Daily Market Outlook, February 29, 2024Munnelly’s Market Minute…“Markets Focus Shifts To US PCE Data Ahead Of Month End”Equity markets in China are higher, while elsewhere in the Asian region they are...
Dollar Testing Support Following GDP Miss
Soft Data Weighing on USDThe US Dollar remains muted as we move through into the back end of the week. Yesterday, advance Q1 GDP came in a touch below forecasts at 3.2% vs 3.3% expected. On the back...
Approaching Pullback Resistance
TitleApproaching Pullback ResistanceTypeBearish ReversalPreference:Price could rise towards the pivot point of 0.65234 which is a pullback resistance level and potentially reverse from here; we could...
Daily Market Outlook, February 28, 2024
Daily Market Outlook, February 28, 2024Munnelly’s Market Minute…“Markets Cautious Ahead of US GDP Then PCE Tomorrow”Asian Markets: Markets in the region are cautious ahead of key US data releases. The...
Potential Bearish Reversal
TitlePotential Bearish ReversalTypeBearish ReversalPreference:Price could rise towards the pivot point of 0.61197 which is an overlap resistance that aligns with the 23.6% Fibonacci retracement level...
Approaching Overlap Support
TitleApproaching Overlap SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 0.87715 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level...
Potential Bullish Bounce
TitlePotential Bullish BounceTypeBullish BouncePreference:Price could fall towards the pivot point of 1.08436 which is a pullback support level and potentially reverse from here; we could see momentum...
Gold Shines Amidst the Fed's Interest Rate Uncertainty
In Tuesday's early New York session, gold showcased its resilience against the US Dollar, buoyed by hopes of an eventual dovish turn in Federal Reserve policy. Investors, eyeing a potential...
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