Market Analysis

Daily Market Outlook, March 6, 2023 Modest China Growth Target Puts A Dent In Metals & Commodities Asian equities carried over the strength seen a the close of trading last week on Wall Street, once again the Nasdaq was the outperformer stateside, the positive impetuous in Asian markets waned somewhat as China reduced its economic […]

Weaker GDP Target Following a return to strength over recent weeks amidst a stream of encouraging economic data, the Chinese Yuan is weaker on Monday as traders digest the latest news from the weekend. The annual National People’s Congress (NPC) got underway on Sunday and the main headline so far is the PBoC setting out […]

TitleGBPUSD, H4 | Bounce from swing low support? TypeBullish Bounce Preference:Price has started to bounce really nicely on GBPUSD at the 1.1924 level which is a multiple swing low support. There’s a chance price might make a bounce up towards our 1st resistance level at 1.2134 which is a multiple swing high resistance. Alternative scenario:If […]

TitleUSDCAD, H4 | Double top reversal? TypeBearish Reversal Preference:We’re seeing price break a strong support-turned-resistance level at 1.3571 which is an overlap support along with a 23.6% Fibonacci retracement. This could trigger a bigger move down to major support at 1.3518 which is a pullback support + 38.2% Fibonacci retracement. Alternative scenario:If prices were to […]

Today, market participants’ focus is on the ISM’s US non-manufacturing activity index. Services account for more than 70% of US employment, so activity in this sector is more closely correlated with US economic growth rates. There is still uncertainty as to whether the Fed will back away from its January communication (which implied policy should […]

Morgan Stanley has upped their guess for the terminal peak rate of the European Central Bank in its latest central bank policy outlook, forecasting that the key interest rate in the eurozone will go up to 4% this year.  Before, they were thinking it would be 3.25%, but they changed their minds because of mounting […]

TitleDAX, H1 | Could we see a short term reversal? TypeBearish Reversal Preference:We’re seeing price rise towards a strong multi-swing high resistance at 15502  – price seems to have reacted off this level multiple times in the past. If a reversal occurs here, we could see prices drop down to our 1st support at 15412 […]

Daily Technical Trade Setups for DXY, EURUSD & FTSE To access today’s actionable analysis, click here! Source: Tickmill

BRENT On H4, the quotes have broken through the 200-day Moving Average and are now above it, revealing possible development of an uptrend. The RSI is testing the support level. As a result, we are to expect an upward breakaway of 6/8 (84.38), followed by growth to the resistance level of 8/8 (87.50). The scenario […]

USDCAD, “US Dollar vs Canadian Dollar” On H4, the pair has formed a Shooting Star reversal pattern. The instrument is now going by the signal in a descending wave. The target of the correction might be 1.3535; later the price might push off it and continue growing. However, the price may rise to 1.3655 without […]

Bitcoin has approached the uptrend. Now, the asset is trying to form an engulfing. Bitcoin is likely to face resistance at the level of 25500, break this level, and jump. It would be interesting to observe the price movements below this level to understand what is about to happen next. Silver has approached a very […]

Title DXY, H4 | Potential reversal from key resistance Type Bearish Reversal Preference: Price is testing our pivot at 104.22 which is an overlap resistance. Reversing from here could see it drop to our 1st support at 103.45 which lines up with our 38.2% Fibonacci retracement. It’s worth noting that price has recently broken our […]