Tag: tickmill
TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price could rise towards the pivot point of 23.070 which is a swing-high resistance that aligns close to the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 22.674 which is a pullback support level. Alternative scenario:If price […]
TitleXAUUSD H4 I Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 2004.6, an overlap resistance. A reverse from this level could lead the price to fall to 1st support at 1994.25, a pullback support Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 2020. a pullback […]
Retail Sales Plunge Following a strong start to the week, driven in part by hotter-than-forecast inflation data, the US Dollar has reversed sharply into the end of the week. Yesterday’s US retail sales showed the first signs of weakness in the economy with both core and headline dropping sharply. Core retail sales came in at […]
UK Retail Sales Soar It’s been quite a muddled weak on the data front. In the US we had inflation coming in above forecast followed by retail sales plunging. In the UK, following a weaker-than-forecast GDP print earlier in the week, retail sales today were seen rising to their highest level in almost 3 years […]
TitleUSDCAD H1 I Bearish reversal TypeBearish Reversal Preference:Price is rising toward the pivot point at 1.3538, a pullback resistance that aligns with the 61.8% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 1.3462, an overlap support. Alternative scenario:If price breaks above the pivot, it could rise […]
GDP Falls Again The British Pound is trading lower across the early European session on Thursday. The selling comes in response to the attest growth data out of the UK with preliminary Q4 estimates reflecting a -0.3% dip in GDP over Q4 2023. On the back of the unrevised -0.1% reading over the prior month, […]
TitlePotential Bullish Reversal TypeBullish Bounce Preference:Price is falling towards the pivot point of 81.212 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 83.272 which is a pullback resistance level. Alternative scenario:If […]
ETH on The Up Alongside the sizeable rally we’re seeing in Bitcoin currently, Ethereum is also making its way higher. The second largest-traded crypto coin has broken out this week, now trading back at levels last seen in early 2022, up around 35% from the YTD lows. The improved crypto sentiment on the back of […]
US Data Flow Continues Following a hotter-than-forecast CPI report earlier in the week, traders are today bracing for the next slew of US data. Retail sales will be the key release to watch, along with Empire Fed and Philly Fed manufacturing index readings and unemployment claims. Given the data we saw on Tuesday the subsequent […]
Daily Market Outlook, February 15, 2024 Munnelly’s Market Minute… “UK In Technical Recession, BoE Governor Optimistic” Asian equities, particularly chip stocks, drove the rise in Asian markets on Thursday. The Nikkei reached a new 34-year peak, while the dollar paused near a three-month high as investors evaluate the potential timing of the Federal Reserve’s easing […]