Daily Market Outlook, January 25, 2024Munnelly’s Market Minute…“Tesla Earnings Disappoint, ECB On Deck”Asian markets saw modest gains, although the overall positive momentum was limited due to the...
EURCAD Long Opportunity Into ECB
EUR Upside RisksAll eyes are on the ECB today and on the back of recent commentary from policy makers, traders are widely expecting further pushback on rate-cut expectations. Several ECB members...
EURUSD Stays Support Despite a Moderately Dovish ECB Message, Traders Eye US GDP Data
The EUR/USD faced a short-term sell-off, which was later recouped following the European Central Bank's decision to maintain the Main Refinancing Operations Rate at 4.50% during its initial...
Volatility Risk Around US GDP
US GDP DueAlong with the January ECB meeting, the other key focus for markets today will be advance US Q4 GDP. Yesterday, both the US services and manufacturing PMIs were seeing coming in above...
GBPUSD H1 I Bearish reversal
TitleGBPUSD H1 I Bearish reversalTypeBearish ReversalPreference:Price is rising toward the pivot point of 1.2746 which is a pullback resistance that aligns with 61.8% fibo retracement. A reverse from...
EURUSD H1 I Bearish reversal
TitleEURUSD H1 I Bearish reversalTypeBearish ReversalPreference:Price is rising toward the pivot point of 1.0907 which aligns with the 61.8% Fibo retracement. A reverse from this point could lead the...
EURJPY H4 | Bouncing off Fibo level
TitleEURJPY H4 | Bouncing off Fibo levelTypeBullish BouncePreference:The price is bouncing off the pivot point at 159.999, an overlap support that aligns with 23.6% Fibonacci retracement. From there...
DXY Pulls Back On Yen Drive, ECB Next
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...
European PMI Aids the Euro in Overcoming a Bearish Retracement
The US Dollar faced a broad decline against major currencies on Wednesday, driven by positive developments in European economic indicators and uncertainties surrounding the upcoming US PMI release....
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