Tag: tickmill
Daily Market Outlook, August 25, 2023 Munnelly’s Market Commentary… Asian equity markets faced downward pressure, driven by the negative momentum carried over from global markets. The initial excitement related to Nvidia’s positive performance subsided, and markets were positioned for the upcoming speech by Fed Chair Powell at the Jackson Hole Symposium. The Nikkei 225 index […]
TitleAUDJPY H4 | Falling to pullback support TypeBullish Bounce Preference: Price is falling towards the pivot point of 93.289 which is a pullback support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 94.146 which is a recent swing-high resistance. Alternative scenario: If price breaks below […]
BTC Volatility Returns It’s been a volatile period for Bitcoin recently. A 12% drop at the end of last week saw the market suffering its 5th largest single-day loss as traders reacted nervously to rising US yields. However, a shifting backdrop this week has allowed for crypto assets to recover some of those losses. Yesterday’s […]
TitleSPX500USD H4 | Potential bullish bounce after pullback TypeBullish Bounce Preference: Price could fall towards the pivot point of 4452.48 which is a pullback support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 4500.81 which is a pullback resistance that aligns with the 61.8% Fibonacci […]
TitleGBPJPY H4 | Falling from neckline? TypeBearish Reversal Preference:Price just react off our pivot point off 184.704 which is a pullback resistance level. A reverse from here, price could fall to 1st support at 183.209 which is a pullback support level Alternative scenario:However, if price breaks above the pivot, it could rise to 1st resistance […]
Bumper NVIDIA Earnings Lift Sentiment Tech stocks are marching higher today on the back of a bumper set of earnings from NVIDIA yesterday which helped bolster sentiment further. There was plenty of anticipation in the market ahead of the release given the current hype around AI and traders were eyeing a positive set of results […]
Bitcoin did not manage to enter the supporting zone. It jumped instead, trying to form a long white candle at the end of the trading day and shape the engulfing. It’s noteworthy that the asset’s price might potentially drop again. Should Bitcoin head North, it is likely to face resistance at the level of 29000 […]
TitleXAUUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price has is at our pivot zone between 1900-1905 which is a multi swing high resistance that aligns with 23.6% Fibo retracement. A reverse from here, price could fall to 1st support at 1891.379 which is an overlap support level Alternative scenario:However, if price breaks above the […]
EUR Under Pressure The Euro is coming under fresh selling pressure today on the back of the latest set of eurozone PMIs this morning. The manufacturing reading was seen remaining firmly in negative territory, printing 43.7. While slightly higher than the prior 42.7 reading and the 42.8 the market was looking for, the data makes […]
Crude Slumps on China Concerns Crude oil has taken a further turn lower this week. After a sustained rally over July which saw prices hitting fresh highs for the year earlier this month, crude futures have now shed around 7% from those YTD highs. Concerns over the economic outlook in China have been a major […]