Tag: tickmill
Copper Traders Eyeing A Downside Break? The fear and uncertainty around the prospect of a global recession over the remainder of the year are well reflected in the recent price action we’ve seen in copper futures. Following the heavy sell off we saw over Q2, prices attempted a recovery across July but were rebuffed into […]
CADCHF Looking to Break Lows CADCHF shorts look good here. The market has been grinding lower from the May highs and has now broken below the rising trend line from 2020 lows. The retail market is more than 90% long the pair, suggesting plenty of room for the current breakdown to continue. While the BOC […]
Type: Bearish Drop Key Levels:Resistance: 9.250 Pivot: 8.945 Support: 8.495 Preferred Case:On the H4, with the Stoch is over 80 and the price dropping from the 1st resistance, we have a bearish bias that the price may drop from the pivot at 8.945, which is in line with the 23.6% fibonacci retracement and overlap resistance […]
Type: Bullish Rise Key Levels:Resistance: 148.125Pivot: 144.475Support: 141.150 Preferred Case:On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative Scenario:Alternatively, price could break […]
Wild Volatility Following US CPI Yesterday was a wild day for markets with the latest US CPI release causing wide-spread volatility. The headline annualised reading came in at 8.3%, above forecasts for an 8.1% reading, though still down on the prior month’s 8.5% reading. So, the takeaway here is that inflation cooled again in August, […]
Type: Bullish Rise Key Levels:Resistance: 1.04785Pivot: 1.04350Support: 1.03890 Preferred Case:On the H4, with RSI is showing an ascending trend, and the price is consolidating now, we would hold a short term bullish bias that price may rise from the pivot at 1.04350 where the swing highs are to the 1st resistance at 1.04785 where the […]
The latest UK CPI data received this morning shows that consumer prices slowed last month in the UK to 9.9% from the prior month’s 10.1%. The market was looking for an unchanged reading against that prior result and so the drop will no doubt be welcomed by UK households, despite confirming that inflation remains at […]
The US inflation report came as a big surprise to many investors as despite solid signals for a drop below 8% (decline in new car sales, falling gasoline prices), headline inflation was quite persistent, inching lower marginally to 8.3%. Core inflation accelerated more than expected – from 5.9% to 6.3%, beating the forecast of 6.1%. […]
JPY Rallying on Wednesday The Japanese Yen has seen a fresh wave of demand today. Part of the rally is clearly down to safe-haven inflows linked to the drop in risk assets on the back of yesterday’s stronger-than-expected US CPI reading. With markets rushing to price in a larger Fed rate hike this month, USD […]
Type: Bullish Rise Key Levels:Resistance: 21735Pivot: 20000Support: 18330 Preferred Case:On the H4, price has pulled back but we’re looking for a reversal at 20000 where the 61.8% retracement and 78.6% projection sits. If price still respects the ichimoku as well as the bullish breakout, it should bring price to 21735 where the previous swing high […]