Tag: tickmill

  Hawkish Risks The big focus in FX markets today will be the June Bank of England meeting. The BOE had been tipped to hike rates by a further .25%, marking the 13th consecutive rate hike and the fastest increase in monetary tightening in thirty years. However, on the back of a set of hot […]

Bitcoin has tested the psychological level of 30000. The asset has closely approached the key resistance level of 31000. Bitcoin might potentially rebound and drop. However, considering the recent abrupt price growth, the asset might also jump and break the level of 30000 instead. It would be interesting to follow the price movements next to […]

TitleGBPUSD H1 | React off 1st resistance TypeBullish Breakout Preference: Price is  approaching our pivot point of 1.27699 which is an overlap resistance level. If it reverse from here, price could fall to 1st support level at 1.26979  which is an overlap support that aligns with 38.2% FIbo retracement  Alternative scenario: However. if price breaks […]

TitleUSDCAD H4 | Bounce off from Fibo confluence TypeBullish Bounce Preference:Price is falling towards our pivot point of 1.31165 which aligns with   -27.2% Fibo expansion and 161.8% Fibo extension, indicating the Fibo confluence zone. A reverse from here, price could rally to 1st resistance at 1.31762 which is a pullback  resistance level. Alternative scenario:However, […]

EIA On Watch Crude oil prices are a little softer today ahead of the latest EIA inventories release due later. Last week, the EIA reported a larger-than-forecast inventories surplus, reflecting weaker demand. However, looking at today’s expectations, the market is forecasting a 0.3 million barrel surplus, down sharply from the 7.9 million barrel surplus reported […]

TitleEURUSD H4 | potential reverse from resistance TypeBearish Reversal Preference: Price is approaching our pivot point of 1.09988, which represents an overlap resistance. This level aligns with the 78.6% Fibonacci retracement and 61.8% projection, indicating a Fibonacci confluence. If there is a reversal from this level, the price could potentially decline towards our first support […]

USD Weakens on Powell Comments EURUSD is pushing higher today against a backdrop of USD weakness following Powell’s semi-annual testimony at Congress yesterday. Speaking at the Senate Banking Committee, Powell offered little in the way of new information, a disappointment for USD bulls who had been hoping for some fresh hawkish commentary from the Fed […]

Daily Market Outlook, June 22, 2023 Munnelly’s Market Commentary…  Asian equity markets traded mostly lower as market participants reacted to the tech-driven declines on Wall Street. Investors were also digesting a series of statements from the Federal Reserve and the release of hot UK CPI data, which added to the cautious sentiment. Additionally, risk appetite […]

Powell Up Next Traders today are bracing for a fresh set of commentary from Fed chairman Powell. The central bank leader makes his semi-annual testimony at the Senate Baking Committee today and markets are eagerly awaiting any potential insight into how the Fed is likely to act on rates next month. Along wit the pause […]

BCOUSD H4 | Resistance above for crude oil TypeBearish Reversal Preference:Price could approach the pivot point of 77.474 and potentially reverse from here; we could see momentum carry price down to its 1st support of 75.278. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 78.787. To discuss this […]