Tag: tickmill
Daily Market Outlook, May 31, 2023 Most Asian equity markets traded lower as they took cues from a mixed handover from Wall Street. Investor sentiment was clouded by opposition to the debt ceiling bill from hardliners, leading to subdued risk appetite ahead of the first vote in the House later today. Additionally, market participants digested […]
Silver is undergoing correction right now. Currently, the asset is approaching the broken neckline of the double top located at the level of 24.75. Silver might potentially rebound from the broken level and drop to gain the required support at the level of 22.40. Oil has approached the supporting level of 71.50, forming the candle […]
TitleGBPUSD H1 | React off 61.8% TypeBullish Bounce Preference: Price has just bounced off our pivot point at 1.23724 which is a pullback support level that aligns with a 61.8% Fibonacci retracement. A reverse from here, price could rally to 1st resistance ar 1.24231 which is a pullback resistance level Alternative scenario:However, if price breaks […]
Iron Ore Gaps Lower We’re seeing plenty of volatility in the iron ore market on Wednesday following the release of the latest China economic data overnight. The manufacturing PMI was seen dropping further into negative territory last month at 48.8, down from 49.2 prior and below the 49.5 reading the market was looking for. Concerns […]
Tesla Trying to Breakout Shares in Tesla are trading a little lower ahead of the open today following a breakout move higher earlier in the week. Tesla shares started the week on a positive footing amidst encouraging signs that a debt ceiling deal will be done, preventing default on US debt. However, lingering concerns around […]
CPI Still Not Falling Fast Enough The latest Australian inflation data overnight no doubt makes difficult reading for the RBA . Annual CPI was seen rising 6.8% last month, above the 6.4% the market was looking for. While a slight reduction from the prior month’s 7% reading, given the RBA’s insistence that it needs to […]
TitleEURUSD H4 | Retracement to 23.6% Fibo resistance TypeBearish Reversal Preference:Price could approach the pivot point of 1.07619 and potentially reverse from here; we could see momentum carry price own to its 1st support of 1.06688. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 1.08323. To discuss this […]
TitleUSDJPY H4 | Bullish bounce from 23.6% Fibo TypeBullish Bounce Preference:Price is approaching the pivot point of 139.262 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 140.772. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 138.202. To discuss […]
TitleGBPJPY H4 | A bounce off support level TypeBullish Bounce Preference:Price has just bounced off our pivot point of 172.48 which is a pullback support level. A bounce from here, price could rally to 1st resistance at 173.816 which is a multi-swing high resistance Alternative scenario:However, if price breaks below the pivot, it could fall […]
TitleNZDUSD H4 | Rising into 23.6% Fibo resistance TypeBearish Reversal Preference:Price could approach the pivot point of 0.60919 and potentially reverse from here; we could see momentum carry price down to its 1st support of 0.6024. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 0.61273. To discuss this […]