Tag: tickmill
TitleUSDCAD H4 | Potential bearish reversal TypeBearish Reversal Preference:Price is rising towards the pivot point of 1.3283 and could potentially reverse from here; we could see momentum carry price down to its 1st support of 1.32174. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 1.33325. To discuss this […]
TitleUSDCHF H4 | Heading into resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.90124 and could potentially reverse from here; we could see momentum carry price down to its 1st support of 0.89456. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.90437. To discuss this […]
Daily Market Outlook, July 03, 2023 Munnelly’s Market Commentary… Asian equity markets started the new trading month on a positive note, drawing momentum from a rally on Wall Street. Market participants also digested key data releases, including an improved Tankan survey in Japan and better-than-expected Chinese Caixin Manufacturing PMI. The Nikkei 225 index rose by […]
Deliveries Soar in Q2 Shares in Tesla are trading higher ahead of the open today. The firm announced record new deliveries in Q2, well above Wall Street estimates. Elon Musk’s flagship company reported Q2 deliveries of 466k vehicles, around 5% higher than the 445k units the market was looking for. At this level, deliveries recorded […]
Manufacturing PMI on Watch The US Dollar is back in focus today with the latest US ISM manufacturing reading due later. Recent strength in US data has been feeding into market expectations of fresh tightening from the Fed. Pricing for a hike this month has jumped from around the 50% mark a few weeks ago […]
TitleGBPUSD H4 | Potential bounce off support level TypeBullish Bounce Preference: Price is falling toward our pivot point of 1.25925 which is an overlap support level that aligns with a 50% Fibo retracement. A reverse from here, price could push up to 1st resistance level at 1.27071 Alternative scenario: However, if price breaks above the […]
Swiss Inflation Cools The Swiss Franc has weakened today on the back of the latest Swiss inflation numbers. CPI for last month was seen rising just 0.1%, down from 0.3% prior and below the 0.2% the market was looking for. On the back of the SNB hiking rates last month, the data serves as further […]
Daily Market Outlook, June 30, 2023 Munnelly’s Market Commentary… Asian equity markets traded cautiously into month & quarter end, with modest gains against the backdrop of a higher yield environment. Market participants were digesting a series of data releases at the end of the quarter, including the latest official PMIs from China. The Nikkei 225 […]
Gold Correction Continues Gold prices are seeing some weakness today against the backdrop of a stronger US Dollar. The greenback has been well bid on the back of better-than-forecast GDP data yesterday and a slew of hawkish comments from Fed’s Powell this week. With traders eyeing a fresh .25% hike in July, metals have weakened […]
GDP Soars Above Forecasts The US Dollar is trading higher today on the back of the latest set of US economic data yesterday. US GDP for the last quarter was seen surging higher to 2%. This was a stark jump from the prior 1.3% reading and the expected 1.4% reading the market was looking for. […]