Tag: tickmill
The US Dollar is currently experiencing a downturn, unwinding gains fueled by the latest US Core CPI figures, which exceeded expectations. This unforeseen development has raised uncertainties regarding the Fed’s anticipated interest-rate adjustments. However, expectations about interest rate cuts from other central banks adjust too, limiting the positive impact of the CPI data on the […]
Daily Market Outlook, March 13, 2024 Munnelly’s Macro Minute… “Whipsaw Reaction To US Inflation Resolves With Risk On Response” Most Asian stock markets are experiencing gains on Wednesday, taking direction from the overall positive performance of global markets. This was influenced by the favorable response to the long-awaited report on US consumer price inflation for […]
Copper Breaking Out Copper prices have broken out to their highest levels since August 2023 today. The move comes on the back of news that top Chinese copper smelters will slash production across loss-making sites in a bid to shore up the market against the tightness in raw materials. A surge in global smelting capacity […]
TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.66443 which is a pullback 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 0.65834 which is an overlap support that sits above with […]
TitleEURUSD H1 | Bearish reversal? TypeBearish Reversal Preference:Price rises toward the pivot point of 1.0931, an overlap resistance close to 78.6% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 1.0899, a pullback support level Alternative scenario: If the price breaks above the pivot, it could rise […]
TitleGBPUSD H1 | Falling to support level? TypeBearish Drop Preference: Price has just reacted off the pivot point of 1.2789, an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.2729, an overlap support level. Alternative scenario: If the price breaks above the pivot, it […]
LSE News Sends Bitcoin Higher Bitcoin prices are softening a little over early European trading on Tuesday following another strong rally yesterday which saw BTC futures breaking out to fresh, record highs above the $73k mark. Yesterday’s rally came amidst news that the London Stock Exchange has opened the door to UK Bitcoin ETFs. On […]
TitleCADJPY H4 | Bearish reversal TypeBearish Reversal Preference:The price is rising toward the pivot point of 109.54, a pullback resistance that aligns with the 38.2% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 108.67, a multi-swing low support level Alternative scenario:If the price breaks above the […]
The EUR/USD pair made modest gains during the early European session, buoyed by unrevised German inflation data that fell in line with expectations, registering a 2.5% year-on-year increase. This minor uptick comes in anticipation of the upcoming US CPI inflation data, a pivotal event that could potentially sway market sentiments. The chart below indicates that […]
FTSE Breaking Out The FTSE is breaking higher today on the back of the latest UK economic data released this morning. The ONS reported that in the three months to January, UK wage growth slowed to 5.6% from 5.8% prior, this marks the lowest level of earnings increases since October 2022. Additionally, the unemployment rate […]
