Tag: tickmill
ECB On Watch Next Week Looking ahead to next week, the other main focus for traders away from the Fed will be the ECB. The bank is widely expected to hike rates by a further .25%, in line with recent hawkish comments from several ECB members. Additionally, the bank is expected to signal further hikes […]
TitleUSDCHF H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is approaching our pivot point of 0.91175 which is pullback resistance level. A reverse from here, price could fall to 1st support at 0.90398 which is a multi swing low support. Alternative scenario: However, if price breaks above the pivot, it could reach our first […]
TitleCADJPY H4 | Bullish reversal from overlap support TypeBullish Bounce Preference:Price could approach the pivot point of 104.201 and potentially reverse from here; we could see momentum carry price up to its 1st resistance of 104.92. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 103.572. To discuss this […]
Dollar Extends Pullback but Buying Pressure may Resurface in the run-up to the May CPI Report The trend corridor for USDCAD held its ground despite the unexpected decision by the Bank of Canada to raise interest rates by 25 basis points at yesterday’s meeting: Based on numerous touches of the lower boundary line, the range […]
Calmer Crude Markets Following heavy volatility at the start of the week, crude oil prices action has calmed down sharply through the week. Crude futures are now hovering around the level of last week’s closing price, reversing the initial gains seen on Monday as traders reacted to news of Saudi Arabia unveiling a fresh set […]
TitleGBPUSD H4 | React off 78.6% TypeBullish Breakout Preference: The price is rallying towards our pivot point of 1.25044, which aligns with a 78.6% Fibonacci retracement. If there is a reversal from this level, the price could fall to the first support at 1.24172. Alternative scenario:However, if the price breaks the pivot, it could reach […]
Bitcoin has tested the support at the level of 25000 and formed a beautiful bullish engulfing. Currently, the asset’s price is testing the middle point of the engulfing. Hence, Bitcoin might potentially jump. So, let’s observe what might happen. Oil rebounded from the supporting level of 71.50, forming a pattern resembling a triangle. The asset’s […]
Daily Market Outlook, June 08, 2023 Munnelly’s Market Commentary… Asian equity markets had a mostly subdued performance overnight, influenced by mixed signals from Wall Street. The technology sector underperformed as global yields rose following a surprising rate hike by the Bank of Canada. Following the unexpected move by the Reserve Bank of Australia earlier this […]
Fed Lift Shares in Tesla are trading at fresh highs for the year this week after breaking out yesterday. Pre-market, the stock is sitting a few points higher suggesting further gains to come as we head through the middle of the week. The stock has seen a strong boost in recent weeks as market expectations […]
Hawkish Risks into FOMC On the back of surprise rate hikes from the RBA and BOC this week, traders are mulling the prospect of the Fed opting to retain a hawkish stance at the upcoming FOMC. Odds for a further hike in June have jumped to around 35% from less than 20% at the start […]