Daily Market Outlook, May 28, 2024Munnelly’s Macro Minute…“US & UK Back Online, Month End & Inflation Data Eyed”On Tuesday, Asian markets saw a second day of gains as the dollar weakened in...
GBPUSD H4 | Bearish reversal
TitleGBPUSD H4 | Bearish reversalTypeBearish ReversalPreference:Price is approaching the pivot of 1.2803, an overlap close to 127.2% Fibo extension. A reverse from this level could lead the price to...
AUDUSD H4 | Potential Bullish Breakout
TitleAUDUSD H4 | Potential Bullish BreakoutTypeBullish BreakoutPreference:Price is rising towards the pivot point of 0.6673 which is a potential breakout level and could climb higher from here; we...
USDJPY H1 | Falling to Overlap Support
TitleUSDJPY H1 | Falling to Overlap SupportTypebullish bouncePreference:Price is falling towards the pivot point of 156.58 which is an overlap support level and could potentially reverse from here; we...
Dollar Weakening as Traders Eye PCE on Friday
USD Softer on TuesdayThe US Dollar remains under pressure across early European trading on Tuesday. US markets return today following the Memorial Day holiday in the states yesterday and traders are...
EURUSD H4 | Bearish reversal
TitleEURUSD H4 | Bearish reversalTypeBearish ReversalPreference:Price is rising toward the pivot of 1.0912, an overlap resistance close to 127.2% Fibo extension. A reverse from this level could lead...
Silver at a Crossroads: What’s Next?
The price of silver is approaching the key horizontal level of 30.00. At this stage, the asset’s price might either rebound from this level or get back under it and drop to the supporting level of...
On Monday, the US Dollar traded marginally lower against most major currencies, influenced by the Memorial Day holiday closure of US markets. This subdued performance stands in contrast to the more...
EUR/USD Holds Firm on Strong Eurozone PMI Data
In Friday's late European session, EUR/USD is finding solid footing above the key 1.0800 level, buoyed by robust economic data from the Eurozone. The upbeat mood around the euro is primarily due...
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