Day: April 22, 2023

TitleAUDUSD H4 | Potential reversal TypeBullish Bounce Preference:Price is approaching our pivot point of 0.66791 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.67605. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.6623. To discuss this trading idea, head […]

GBP Falls on Soft UK Data GBPCHF is on watch today with the retail market holding a more than 80% long position in the pair. We’ve been trending lower since the early April highs and the current backdrop looks favourable for further shorts near-term. GBP is on the ropes following the latest UK data which […]

AmEx Shares Drop  The main story from US earnings season yesterday was the volatility we saw in American Express shares as traders reacted to its Q1 earnings report. The company posted Q1 EPS of $2.40, down against the $2.65 the market was looking for and down sharply against the $2.73 posted a year earlier. Revenues […]

Mixed Data Poses Questions For Economic Outlook The latest set of UK and eurozone PMI readings released today offered mixed views over the economic outlook for both. Service sector readings for both were seen improving in the flash reading for April while manufacturing readings were seen plunging further into negative territory. Given the higher interest […]

TitleEURUSD  H4 | Falling to support TypeBullish Bounce Preference: Price is failing to reach our pivot point at 1.09127 which is an overlap support level and lines up with 61.8% Fibonacci retracement. Price could rally to our 1st resistance at 1.09813, which is multi  swing high resistance. Alternative scenario:However if price breaks break below the […]

Retail Sales Slide in March  GBP is under pressure today on the back of a negative set of UK retail sales released this morning. March retail sales came in at -0.9%, down sharply from the prior month’s 1.1% reading and worse than the -0.5% the market was looking for. UK economic concerns have been a […]