Tag: tickmill
Gold Falls Following Fed Gold prices have turned lower on the back of the Fed meeting yesterday. Despite holding rates steady at this meeting, the meeting showed a clear hawkish skew with the updated dot plot projections showing that the majority of members still forecast further hikes this year. Powell himself noted that July is […]
Daily Market Outlook, June 15, 2023 Munnelly’s Market Commentary… Asian equity markets traded predominantly higher; however, gains were limited as the market digested the aftermath of the Federal Open Market Committee (FOMC) meeting. Initially, there was a hawkish reaction to the Fed’s dot plot projections, but it was partially reversed during the press conference as […]
EUR Rallying EUR is pushing firmly higher on the back of the June ECB meeting yesterday. The single currency spiked in response to a decidedly hawkish meeting from the bank. Yesterday I outlined that the bar was set very high for the ECB in terms of delivering an upside reaction in EUR and it seems […]
TitleGBPJPY week | Potential bearish reversal TypeBullish Bounce Preference: Price is currently at our pivot point of 180.581 which aligns with a 78.6% Fibo retracement. A reverse from here, price could fall to 1st support at 171.87 which is a pullback support level. Alternative scenario:However, if price breaks above the pivot, it could rally to […]
ECB Up Next Following on from the Fed yesterday, focus today turns to the ECB. In line with previous signalling and recent commentary, the bank is widely expected to press ahead with a further .25% rate hike. As such, the bigger focus will be on the guidance the bank issues and how it signals the […]
Factory Output Falls The latest data out of China overnight has given more cause for concern over the health of the world’s second largest economy. Industrial production was seen rising just 3.5% last month, down sharply from the 5.6% output seen over the prior month. This marks the slowest level of factory output since February […]
American stock index S&P 500 has closely approached the broken uptrend; therefore, it might potentially undergo correction soon. The asset’s price is likely to drop and target the level of 4195. So, let’s observe what might happen. Bitcoin has been moving along the supporting level of 25200 for many days in a row, trying to […]
The two-week consolidation period of gold price around $1950 has ended with a breakdown below the lower bound of the main ascending channel: The risk is increasing that sellers will temporarily seize the initiative, as buyers have lost their main stronghold in the form of the ascending corridor that started back in October 2022. From […]
TitleCHFJPY H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price could approach the pivot point of 155.484 and potentially reverse from here; we could see momentum carry price up to its 1st resistance of 156.276. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 155.083. To discuss this […]
TitleGBPNZD H4 | Bullish reversal from 38.2% Fibo TypeBullish Bounce Preference:Price is falling towards the pivot point of 2.03679 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 2.05217. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 2.02258. To […]