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Title XAUUSD H4 | Potential bullish reversal TypeBullish Bounce Preference:There is a recent swing low at our pivot point which the price could potentially reverse from this level and could push up to our 1st resistance level Alternative scenario:If the price were to break from the pivot point, it could go down to our 1st […]
Tesla Shares Under Pressure Following a strong start to the year, Tesla shares have run into something of a barrier recently with price reversing from the 207.71 level to trade back down to their lowest levels in over a month. Recent strength in USD, reflecting the market’s more hawkish Fed outlook, has seen tech shares […]
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Daily Market Outlook, March 6, 2023 Modest China Growth Target Puts A Dent In Metals & Commodities Asian equities carried over the strength seen a the close of trading last week on Wall Street, once again the Nasdaq was the outperformer stateside, the positive impetuous in Asian markets waned somewhat as China reduced its economic […]
Weaker GDP Target Following a return to strength over recent weeks amidst a stream of encouraging economic data, the Chinese Yuan is weaker on Monday as traders digest the latest news from the weekend. The annual National People’s Congress (NPC) got underway on Sunday and the main headline so far is the PBoC setting out […]
TitleGBPUSD, H4 | Bounce from swing low support? TypeBullish Bounce Preference:Price has started to bounce really nicely on GBPUSD at the 1.1924 level which is a multiple swing low support. There’s a chance price might make a bounce up towards our 1st resistance level at 1.2134 which is a multiple swing high resistance. Alternative scenario:If […]
TitleUSDCAD, H4 | Double top reversal? TypeBearish Reversal Preference:We’re seeing price break a strong support-turned-resistance level at 1.3571 which is an overlap support along with a 23.6% Fibonacci retracement. This could trigger a bigger move down to major support at 1.3518 which is a pullback support + 38.2% Fibonacci retracement. Alternative scenario:If prices were to […]
Today, market participants’ focus is on the ISM’s US non-manufacturing activity index. Services account for more than 70% of US employment, so activity in this sector is more closely correlated with US economic growth rates. There is still uncertainty as to whether the Fed will back away from its January communication (which implied policy should […]
Morgan Stanley has upped their guess for the terminal peak rate of the European Central Bank in its latest central bank policy outlook, forecasting that the key interest rate in the eurozone will go up to 4% this year. Before, they were thinking it would be 3.25%, but they changed their minds because of mounting […]