Tag: tickmill
TitleNZDUSD H4 | Bearish reversal from 38.2% Fibo TypeBearish Reversal Preference:Price could approach the pivot point of 0.61123 and potentially reverse from here; we could see momentum carry price down to its 1st support of 0.60046. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.61793. To discuss this […]
Daily Market Outlook, June 06, 2023 Munnelly’s Market Commentary… Asian equity markets had a mixed trading session overnight, with price action mostly range bound. The subdued performance on the Wall Street, where investors “sold the news” following Apple’s headset announcement, coupled with weak data releases, contributed to the clouded sentiment, ISM Services data has prompted […]
TitleBCOUSD H4 | Resistance overhead TypeBearish Reversal Preference: Price could approach the pivot point of 78.403 and potentially reverse from here; we could see momentum carry price down to its 1st support of 75.276. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 80.677. To discuss this trading idea, […]
Lowe Lifts Off Again The RBA caught markets by surprise once again last night as it lifted its headline cash rate by a further .25% from 3.85% to 4.10%. The move marks the second such unexpected hike from the bank, with the majority of analysts polled ahead of the meeting expecting no change whatsoever. The […]
TitleUSDCAD H4 | Bounce from overlap support TypeBullish Bounce Preference:Price is approaching the pivot point of 1.33956 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 1.34604. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1.33405. To discuss this […]
Metals on the Move The pull back in the US Dollar has benefited metals nicely. Silver prices are now up around 6% from last week’s lows. An agreement on the US debt ceiling has fuelled an unwinding of the USD safe-haven trade, allowing metals room to recover. Additionally, dovish comments from leading Fed members this […]
“The winds of change” in the Federal Reserve’s policy have sharply shifted direction once again: in a matter of days, the chances of a rate hike on June 14th have decreased from 65% to 26%: The dramatic ups and downs in the likelihood of a rate increase can be attributed to the “back-and-forth” approach taken […]
Daily Market Outlook, June 02, 2023 Munnelly’s Market Commentary… Most Asian equity markets had a positive trading session as the region drew inspiration from the gains on Wall Street. The S&P 500 and Nasdaq reached nine-month highs, buoyed by optimism surrounding the debt ceiling, falling labour costs, and dovish commentary from the Federal Reserve. Meanwhile, […]
Bitcoin Rising On USD Drivers Bitcoin futures are trading higher today ahead of the US jobs number. A combination of a weaker Dollar and bolstered risk sentiment attached to dovish Fed expectations and the passing of the debt ceiling bill are helping underpin crypto currently. However, there are two-way risks into today’s US labour market […]
Amazon Pops on USD Drop Shares in Amazon are trading firmly higher ahead of the US open today. The tech stock has been on a solid bull run this year and despite some choppiness over the end of Q1, the stock has rebounded firmly and is now trading around 50% up on the year. This […]