Tag: tickmill
TitleEURUSD H4 } Potential bullish reversal? TypeBullish Bounce Preference: Price is currently at out pivot point of 1.09413 which is a pullback support level that aligns with 78.6% Fibo retracement. A bounce off from here, price could push up to 1st resistance at 1.10136 which is a pullback support level. Alternative scenario:However, if price breaks […]
Subtle Shifts From BOJ The Bank of Japan meeting earlier this morning was a very interesting affair altogether, and for those who rose early/or stayed up late, we were treated to plenty of volatility. While no policy adjustments were made, there were some noteworthy tweaks in operations which caused a storm. As expected, the BOJ […]
TitleAUDUSD H4 | Potential bullish reversal TypeBullish Bounce Preference:Price is falling towards the pivot point of 0.65991 which is a pullback support that aligns close to the 127.2% Fibonacci projection level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.67142 which is an overlap resistance.. […]
Daily Market Outlook, July 28, 2023 Munnelly’s Market Commentary… Asian equity markets traded mixed as investors were cautious and focused on the Bank of Japan’s (BoJ) policy decision. The central bank kept monetary policy settings unchanged but announced a more flexible approach to yield curve control (YCC), with fixed rate operations for 10-year Japanese Government […]
Upbeat surprises in US data released yesterday have bolstered the dollar’s position and led to rebound in Treasury yields with expectations regarding the Federal Reserve’s policy shifting towards another rate hike. The U.S. GDP growth for the second quarter (preliminary estimate) reached 2.4%, well above the forecast of 1.8%, indicating a substantial boost in the […]
Dow Stalls for Now The Dow Jones came under heavy selling pressure yesterday as the market tested key resistance at the 35503.24 level. Prior to yesterday’s sell-off, the Dow had been on a strong winning streak following the breakout above the 34523.58 level earlier in the month. Shifting Fed expectations have helped drive demand for […]
TitleGBPUSD H4 | Bounce of support level? TypeBullish Bounce Preference: Price is currently at our pivot point of 1.27746 which is a pullback support level that aligns with 61.8% Fibo projection. A bounce off from here, price could push up to 1st resistance at 1.2948 which is an pullback resistance. Alternative scenario: However, if price […]
September Hike in Doubt EUR has come under heavy selling pressure on the back of yesterday’s ECB meeting. While the central bank hiked rates by a further .25% as expected, the tone of the meeting was far less hawkish than many were expecting. Lagarde seemed to downplay the likelihood of a further hike in September, […]
Meeting of the Federal Reserve became a catalyst for selling the dollar, with the U.S. currency index accelerating its decline to approach the 100.50 level after an initial negative reaction to the central bank’s decision. Stocks responded with gains despite the uncertain reaction of the U.S. market yesterday, during which the S&P 500 closed modestly […]
Oil Rallies on Weak USD Oil prices are climbing on Thursday following the July FOMC yesterday which has seen USD coming under fresh selling pressure. Crude futures are now trading back up towards the week’s highs, their highest level in 3 months, as a weaker Dollar drives demand for commodities. With the market no longer […]