Tag: tickmill
Silver/Gold Breaking Correlation Silver prices are today breaking from their typical correlation with gold. While the yellow metal has come under pressure on Monday, silver prices are trading higher. The move has been attributed to position covering ahead of upcoming major data with moves being exacerbated in low volume markets due to China being offline […]
Daily Market Outlook, February 12, 2024 Munnelly’s Market Minute…“Quiet Start To A Data Heavy Week” Asia was quiet on Monday with several centers on holiday. It’s also a public holiday for Lunar New Year in New York State for the first time, but that doesn’t seem to include Wall Street. U.S. stock futures, European equity […]
Middle East in Focus Crude prices are seeing a quieter start to the week, following the rally we saw last week, as traders await fresh directional catalysts. News that Israel has ‘concluded’ its strike on Southern Gaza is drawing focus from oil traders. The news comes just days after Israel rejected Hamas’ ceasefire offer which […]
The latest data on the American economy show that it is growing significantly faster than previously thought: over the past two weeks, the estimate of the quarterly GDP growth rate, calculated by the New York Federal Reserve, has been revised upwards by almost 1% – from 2.42% to 3.31%: This reassessment was driven by four […]
Crude Rallying This Week Crude futures are trading around 7% higher on the week currently. The market has reacted sharply to news that Israel has rejected Hamas’ ceasefire offer with crude jumping around 3.6% yesterday. News of the ceasefire being rejected was accompanied by a heavy bombing onslaught on the city of Rafah. Traders are […]
TitleEURGBP H4 | Bullish breakout TypeBullish Breakout Preference:EURGBP is rising to the pivot at 0.85452, the overlap resistance that coincides closely with the 61.8% Fibonacci retracement. Price could break this level and rise to 1st resistance at 0.85703, the overlap Alternative scenario: The price might reverse and fall to 1st support at 0.85171, the pullback […]
Hawkish ECB Commentary EUR bulls received a bit of a boost this week with ECB’s Holzmann telling reporters today that rate cuts are not guaranteed. Holzmann, who is among the more hawkish of the ECB, warned that due to remaining inflationary risks there is a chance that rates remain on hold this year. Traders have […]
BTC Pushing Higher Bitcoin prices are looking much more constructive this week. Following a period of stagnation last week, the leading crypto coin has been on the march north this week and is now close to retesting the current YTD highs around 49360. Indeed, following a sharp correction lower from those current highs, BTC futures […]
TitleEURUSD M15 I Bearish drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.0771 close to the 78.6% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 1.0756 Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 1.0792, above the […]
TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price is falling towards the pivot point of 0.61186 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.61579 which is a pullback resistance level. Alternative scenario:If price breaks below the pivot point, it could […]