Tag: tickmill
Daily Market Outlook, January 26, 2024 Munnelly’s Market Minute…“China Stimulus Bid Fades” Asian markets have experienced broad declines following a recent period of gains. The negative sentiment follows disappointing projections from chipmaker Intel, despite a strong finish to trading on Wall Street. U.S. markets were lifted by a robust GDP report, showing annualized growth of […]
TitleEURUSD H4 | Rising to resistance TypeBullish Bounce Preference:Currently, the price has bounced off the pivot point at 1.08307, a swing-low support. Price is on an uptrend and could rise to 1st resistance at 1.09298, an overlap resistance. Alternative scenario:It might reverse and breakout of pivot point, from there it could fall to 1st support […]
BTC Selling Subsides The sell-off in Bitcoin appears to have lost momentum in recent days. Following a more than 20% decline from the YTD highs, BTC prices have stabilised since mid-week, failing to break lower ground. With much of the selling attributed to ETF outflows from those who bought in well before approval was granted, […]
TitlePullback Resistance at 61.8% Fibo TypeBearish Reversal Preference:Price could rise towards the pivot point of 1.27362 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 1.26573 which is a swing-low support level. Alternative […]
TitleEURGBP Day | Bearish continuation TypeBearish Breakout Preference:The current price is on the pivot point at 0.85259 an overlap support, it could breakout and continue with the downtrend and fall to 1st support at 0.83371, the swing-low support. Alternative scenario: If the trend reverses and bounces off the pivot point, it might rise to 1st […]
The EUR/USD faced a short-term sell-off, which was later recouped following the European Central Bank’s decision to maintain the Main Refinancing Operations Rate at 4.50% during its initial policy meeting in 2024. Despite market expectations aligning with the central bank’s decision, investors are now turning their focus to potential guidance on future interest rate cuts. […]
The price of Bitcoin is trying to remain under the broken support level of 40234. Should the asset stay there at the end of the trading week, its price might drop to the level of 35000. Of course, the bearish trap might potentially form. However, a price drop is ahead. So, let’s observe when it […]
US GDP Due Along with the January ECB meeting, the other key focus for markets today will be advance US Q4 GDP. Yesterday, both the US services and manufacturing PMIs were seeing coming in above forecasts, adding to the recent run of strong US data. Forecasts for today, however, are set a little low. The […]
Daily Market Outlook, January 25, 2024 Munnelly’s Market Minute…“Tesla Earnings Disappoint, ECB On Deck” Asian markets saw modest gains, although the overall positive momentum was limited due to the impact of various earnings reports and the recent increase in global yields, which partially offset the excitement over Chinese stimulus measures. The Nikkei 225 eventually turned […]
Crude Rallying on Inventories Data Oil prices are pushing higher today with crude futures close to testing the December highs. The latest inventories report from the EIA yesterday recorded a heavy 9.5 million barre drawdown, far deeper than the 1.5 million-barrel draw the market was looking for. This comes on the back of a 2.5-million-barrel […]