Tag: tickmill
Daily Market Outlook, July 17, 2023 Munnelly’s Market Commentary… Asian equity markets started the week on a subdued note as market participants digested mixed economic growth and activity data from China. The closure of markets in Japan due to a holiday and disruptions caused by a typhoon in Hong Kong further thinned trading conditions. The […]
Fed Expectations Gold prices are holding steady at the start of the week following a firm rally across the backend of last week. Fluctuating expectations regarding the Fed continue to be the main driver for gold prices. A further fall in US inflation, as confirmed by last week’s CPI readings, has seen traders scaling back […]
The FTSE Finish Line – July 17 – 2023 FTSE Modestly Lower To Start The Week FTSE 100 index experienced a slip to start the week, primarily led by declines in mining stocks. The lower metal prices were a result of weak growth in China, the world’s second-largest economy. The FTSE 100, which has a […]
TitleUSDJPY H4 | React off resistance level? TypeBearish Reversal Preference:Price is approaching our pivot point of 138.879 which is an overlap support level that aligns with 23.6% Fibo retracement. A reverse from here, price could fall to 1st support level at 137.61 which is a swing low support level. Alternative scenario:However, if price breaks above […]
Last week Bitcoin bulls tried to break through and remain above the resistance level of 31000 but bears quickly seized the initiative and brought the asset back under this level. This resulted in a false breakout and the formation of a bearish engulfing. It means that the asset’s price is likely to drop and might […]
Last week, there was a significant adjustment in financial markets to the new reality, where sticky high inflation in the US may not be an issue anymore. This was primarily driven by the US inflation report, which revealed that core inflation, the most accurate indicator of consumer demand, slowed by 0.5% to 4.8% in June: […]
US CPI Drop Boots EUR EURUSD remains firm at the start of the week following a breakout move higher last week. The catalyst behind the move was a deeper drop in US inflation than had been expected. With US CPI falling to 3% from 4.1% prior, the market has undergone a significant repricing of US […]
TitleUSDCAD H4 | Potential Bearish Reversal? TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.32421 and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.30985. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.33053. To discuss […]
TitleUS30USD H4 | Bullish bounce off pullback support TypeBullish Bounce Preference:Price is approaching our pivot point at 34254.15, which is a pull back support, we can expect a bullish bounce off the pivot point to the 1st resistance at 34563.3. Alternative scenario:If price breaks below the pivot point, there is a possibility for it to […]
Investors swiftly unwound their long positions on the dollar this week, driven by compelling signs of disinflation in the US in June. Market expectations regarding the Federal Reserve’s (Fed) policy for the remainder of the year have also changed significantly. The baseline scenario now anticipates only one rate hike instead of two, and the market […]