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Forex

Daily Market Outlook, February 16, 2024

Daily Market Outlook, February 16, 2024Munnelly’s Market Minute…“Nikkei Heading For All Time Highs WIth Japan In Recession”The Nikkei reached a 34-year high, just shy of its all-time high of 38,957.44...

USDCAD H1 I Bearish reversal

TitleUSDCAD H1 I Bearish reversalTypeBearish ReversalPreference:Price is rising toward the pivot point at 1.3538, a pullback resistance that aligns with the 61.8% Fibo retracement. A reverse from this...

UK Retail Sales Highest In Almost 3 Years

UK Retail Sales SoarIt’s been quite a muddled weak on the data front. In the US we had inflation coming in above forecast followed by retail sales plunging. In the UK, following a weaker-than-forecast...

Dollar Bulls Caught Offside By Weak Retail Sales

Retail Sales PlungeFollowing a strong start to the week, driven in part by hotter-than-forecast inflation data, the US Dollar has reversed sharply into the end of the week. Yesterday’s US retail sales...

Will US Retail Sales Drive Dollar Higher?

US Data Flow ContinuesFollowing a hotter-than-forecast CPI report earlier in the week, traders are today bracing for the next slew of US data. Retail sales will be the key release to watch, along with...

GBP Slides As UK Enters Recession

GDP Falls AgainThe British Pound is trading lower across the early European session on Thursday. The selling comes in response to the attest growth data out of the UK with preliminary Q4 estimates...

US Dollar Wavers as Disinflation Narrative Persists Amid Mixed Economic Signals

The US Dollar (USD) finds itself in a precarious position, relinquishing its recent gains following a surge triggered by a red-hot inflation report earlier in the week. However, Fed members are...

GBPJPY H4 | Potential bullish bounce

TitleGBPJPY H4 | Potential bullish bounceTypeBullish BouncePreference:The price could reverse to the pivot point at 188.246, the overlap support that alings with 38.2% Fibonacci retracement. It could...

GBPUSD H1 | Bearish reversal

TitleGBPUSD H1 | Bearish reversalTypeBearish ReversalPreference:Price is rising toward the pivot point of 1.2580 which aligns with the 61.8% Fibo retracement,  A reverse from this level could lead the...