Tag: tickmill
TitleNZDUSD H4 | Bearish reversal TypeBearish Reversal Preference:The price could react off the pivot at 0.62063, the overlap resistance. Then it could fall to the 1st support at 0.62587, the overlap support. Alternative scenario:Price might breakout of the pivot and rise to 1st resistance at 0.62587, the multi-swing high resistance. To discuss this trading idea, […]
USD Falls Despite Hawkish Fed Minutes The US Dollar is trading lower today on the back of yesterday’s FOMC minutes, despite the minutes taking a broadly hawkish tone. Policymakers agreed that significant progress had been made on inflation but were concerned over the risks of tightening too early. While members agreed that the tightening cycle […]
Iron Ore Under Pressure Iron ore bulls will be hoping that the current weakness in USD extends further today, helping stem the sell off in the metal. Iron ore futures have shed around 13% so far this year as concerns over the health of the Chinese economy have weakened the demand outlook for the metal. […]
Bitcoin Rally Pauses…For Now Following a breakout move higher last week, Bitcoin futures have stalled for now into a test of the 53385 level. However, with BTC whales (accounts holding +1000 BTC units) seen adding bullish positions in recent weeks, sentiment has shifted firmly to the upside and focus is on a fresh push north. […]
NVIDIA Earnings Due Today promises to be an important day for the tech sector with chipmaker Nvidia due to report Q4 earnings after the market closes. The stock plunged more than 6% yesterday, wiping around $100 billion off the company’s value, as traders covered positions ahead of today’s report. The stock has been on an […]
The EUR/USD pair, which has embarked on a bullish trajectory since February 14, encountered hurdles today as it relinquished some of its intraday gains. The Asian session witnessed a surge in the pair, predominantly driven by a weaker US Dollar (USD) amid subdued US Treasury yields. However, the Euro faced headwinds amidst market caution over […]
BOC in Focus The Canadian Dollar has softened a little on the back of yesterday’s inflation data. Canadian CPI was seen declining again last month, further dampening tightening expectations. The BOC has recently warned that its discussions have now shifted away from whether to tighten further, instead focusing on when the bank should cut rates. […]
Daily Market Outlook, February 21, 2024 Munnelly’s Market Minute… “Markets On Nvidia Earnings Watch” This morning, Asian stock markets are showing a varied performance, with Chinese indices gaining while most others are experiencing declines. A Chinese media source reported that a key interest rate was kept unchanged this week due to concerns about its impact […]
PBoC Slashes LPR Chinese stocks are surging higher today after the PBoC slashed its 5yr LPR rate to 3.95%. The .25% reduction marks the first LPR cut since June and the largest reduction since the bank introduced the rate in 2019, larger than the .15% cut the market was looking for. Lowering of the rate […]
TitleSPX500 H4 | Bullish bounce TypeBullish Bounce Preference:The price could fall to the pivot at 4952.82, the overlap support, then it could bounce off the pivot and rise to the 1st resistance at 5038.6, the multi-swing high resistance. Alternative scenario:Price might break below the pivot and fall to the 1st support at 4906.53, the overlap […]