Tag: tickmill
TitleUSDCHF H4 | React off overlap resistance TypeBearish Reversal Preference: Price is currently at our pivot point of 0.89923, which represents an overlap resistance. This level aligns with a 50% Fibonacci retracement and 100% projection, indicating a Fibonacci confluence. If there is a reversal from this level, the price could potentially decline towards the first […]
TitleUSDCAD H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is heading towards our pivot point of 1.32772 which is a pullback resistance that aligns with a 61.8% Fibo retracement. a reverse from here, price could fall to 1st support at 1.31882 which is a multi-swing low support Alternative scenario: However, if it breaks above […]
TitleBTCUSD H4 | Bullish momentum TypeBullish Bounce Preference:Price has hit the pivot point of 26176.56 and reversed from here; we could see momentum carry price up to its 1st resistance of 26815.71. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 25713.18. To discuss this trading idea, head over […]
The surprise in UK consumer inflation for May was incredibly strong, raising concerns that the Bank of England may go into overdrive with the policy tightening. GBPUSD initially tried to gain strength, but it quickly became clear that additional tightening measures could hurt the UK’s growth prospects, resulting in the Pound sell-off. In May, UK […]
Daily Market Outlook, June 21, 2023 Munnelly’s Market Commentary… Asian equity markets experienced subdued trading as they reacted to the negative performance on Wall Street and lacked positive macroeconomic drivers. Market participants eagerly awaited the testimony of Fed Chair Powell in Congress, adding to the cautious sentiment. Initially, the Nikkei 225 index faced pressure but […]
GBP Under Pressure GBPUSD has come under fresh selling pressure today as the latest round of UK inflation data failed to inspire optimism. UK CPI in May was seen printing 8.7% on the headline reading above the 8.4% the market was looking for. Core CPI meanwhile, rose to 7.1% from 6.8% prior. With both readings […]
US currency struggles to extend downside correction and upside pressure gradually takes upper hand. The dollar index (DXY) bounced back from 102 and rose to 102.50 points. Risk assets are also awaiting news, and the American stock market did not set the tone for trading yesterday due to a national holiday. The monetary stimulus from […]
TitleXAUUSD H4 | Bearish Channel Line TypeBullish Bounce Preference: price is currently ranging within a bearish channel, indicating a bearish momentum. It is currently falling towards our pivot level of 1940.152, which aligns with the 61.8% Fibonacci retracement, serving as a pullback support level. If there is a bounce off from this level, the price […]
AUD Under Pressure The Australian Dollar has softened today on the back of the release of the latest RBA meeting minutes overnight. Following a second, unexpected rate-hike at the last meeting, expectations ahead of the minutes were mostly hawkish. Given the recent increases, traders were looking for clear signs that the bank intends to press […]
TitleGBPUSD H4 | Potential bounce off support level TypeBullish Bounce Preference: Price is falling towards our pivot point of 1.26815, which serves as a pullback support level. It aligns with both a 38.2% Fibonacci retracement and a 50% Fibonacci retracement, creating a Fibonacci confluence zone. A bounce off from here, price could rally to 1st […]