Tag: tickmill

USD Rally Weighing on Silver Silver prices remain heavy this week with the market still sat on support at the 22.3205 level, underpinned by the bull channel lows also. The recent uptick in USD has weighed heavily on silver, seeing futures prices dropping around 11% from the July highs. The majority of this move has […]

TitleNZDUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price could rise again towards the pivot point of 0.59911 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.59442 which is a swing-low support. […]

Daily Market Outlook, August 15, 2023 Munnelly’s Market Commentary…  Asian equity markets traded with mixed outcomes as market participants processed key releases, including disappointing Chinese activity data and the People’s Bank of China’s (PBoC) unexpected reductions in its 7-day Reverse Repo and 1-year Medium-term Lending Facility (MLF) rates. The Nikkei 225 index in Japan experienced […]

Chinese yuan extends depreciation, indicating growing concerns about China growth outlook and garnering more attention in global markets. USDCNY has exceeded the 7.28 mark: Data on industrial production, retail sales, fixed asset investment, and unemployment released today came in significantly weaker than expected: The People’s Bank of China also announced today that it is reducing […]

TitleAUDUSD H4 | Approaching 38.2% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.65172 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64678 which is a swing-low […]

TitleDE30EUR H4 | Bearish reaction off 38.2% fibo? TypeBearish Reversal Preference: Price is approaching our pivot point at 16018.62, which is a pullback resistance, as well as at the 38.2% fibo retracement and 78.6% fibo projection. This shows that there is fibo confluence here, and price could reject off our pivot point, and there is […]

TitleBCOUSD H4 | Bullish bounce off 50% Fibo? TypeBullish Bounce Preference:Price has bounced off the pivot point of 85.859 which is an overlap support that aligns with the 50.0% Fibonacci retracement level and could potentially climb higher; we could see momentum carry price up to its 1st resistance at 88.179 which is a swing-high resistance. […]

The FTSE Finish Line – August 14 – 2023 FTSE China Concerns Continue To Weigh ON Export Heavy Blue Chips London’s FTSE 100 index UK export-heavy stock index, started the week on the backfoot experiencing a slight decline due to the underperformance of mining and oil companies’ shares. This drop was primarily influenced by mounting […]

Property & Financial Sector Risks Fresh fears over the health of the Chinese economy are taking centre stage this week. On the back of recent data weakness, reports this week are centred around the Chinese property and financial sector.  According to Bloomberg, late on Friday three firms recorded miss payments on high yield products from […]

­­­­­­Asian markets tumbled on Monday, with the Chinese yuan nearing its lowest level since the end of June (also the year’s minimum). Caution dominates European exchanges and US equity futures. China’s 5-year credit default swap rate rose 5 basis points on Monday, reflecting the growing concerns in the country’s financial sector, particularly the increasing risk […]