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Forex

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...

Daily Market Outlook, February 14, 2024

Daily Market Outlook, February 14, 2024Munnelly’s Market Minute…“US CPI Upside Surprise Leads To Selloff”Most Asian equity indices are trading in negative territory, reflecting the downturn observed...

Potential Bearish Reversal

TitlePotential Bearish ReversalTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.64815 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level...

Potential Pullback before Resuming the Uptrend

TitlePotential Pullback before Resuming the UptrendTypeBullish BouncePreference:Price could fall towards the pivot point of 1.35412 which is a pullback support that aligns with the 23.6% Fibonacci...

EURJPY H4 | Potential bullish bounce

TitleEURJPY H4 | Potential bullish bounceTypeBullish BouncePreference:The price could reverse to pivot at 160.242, the pullback support, from there price could bounce off pivot and rise to 1st...

Dollar Rallies on Hot Inflation Data

Core CPI RisesThe US Dollar is pushing higher midweek on the back of yesterday’s US inflation figures. Annualised headline CPI was seen at 3.1% last month, lower than the 3.4% seen a month prior but...

EURUSD H4 | Bearish Breakout

TitleEURUSD H4 | Bearish BreakoutTypeBearish DropPreference:Price is falling toward the pivot point of 1.0761 which is a multi-swing low support level. A breakout from this level price could continue...

GBP Rallying Following Jobs Data

Wages Rise, Unemployment FallsThe British Pound is rallying today on the back of the latest economic data out of the UK, released this morning. The UK unemployment rate was seen falling back to 3.8%...