Tag: tickmill
Type: Bullish BounceKey Levels:Resistance: 225.40Pivot: 221.95Support: 219.75Preferred Case:With price moving above our Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 225.40 in line with the horizontal swing high resistance from our pivot of 221.95 in line with the 23.60% Fibonacci retracement and horizontal pullback support.Alternative Scenario:Alternatively, price […]
UK Labour Data Improves AgainThe British Pound is back in favour this week following a bumper set of labour market indicators this morning. UK wages were seen rising by 7% over the three months ending in March, marking their fastest pace of growth since summer 2021. Alongside this, the unemployment rate was seen falling back […]
Type: Bullish BounceKey Levels:Resistance: 633’6Pivot: 626’2Support: 615’0Preferred Case:With price moving above our Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 633’6 in line with the horizontal pullback resistance from our pivot of 626’2 in line with the 61.80% Fibonacci retracement and horizontal pullback support.Alternative Scenario:Alternatively, price may […]
US Retail Sales Up NextThe main data focus for today’s US session will be US retail sales for April. The market is looking for retail activity to have slowed last month. Forecasts call for headline retail sales to improve to 1% from 0.5% prior, while the core reading is expected to have fallen back to […]
Daily Market Outlook, May 16, 2022 Overnight Headlines Goldman Sachs Cut US Growth Forecasts For 2022, 2023 McConnell Sees Wednesday Senate Vote On Ukraine Bill China Keeps Key Rate Unchanged Amid Sharp Slowdown China Economy Cools Sharply In April As Lockdowns Bite Shanghai Official: Aim For Return To Normal Life In June EU Consider Gas […]
Metals Under Pressure On MondayIt’s another frustrating Monday morning for gold bulls this week. Both gold and silver remain under firm selling interest as the US Dollar sits just off last week’s highs, which marked the highest DXY prices since 2002. Both gold and silver have been heavy losers over the last two months as […]
Credit AgricoleAsia overnightSentiment started the session strong on the back of a mortgage rate cut in China over the weekend and signs of an easing of its Covid lockdowns in Shanghai. But the investor mood turned sour following the downside surprises in the China cyclical data. At the time of writing, S&P500 futures and a […]
Copper Prices Break Key TrendlineThe reversal lower in copper prices this year has seen the metal breaking down through several key support levels and through the rising trend line from last year’s lows. Price is currently sitting on support at the 4.1185 and with both MACD and RSI bearish, there is a risk of a […]
CADJPY On Watch Price action in CADJPY is looking interesting here. Unlike themoves we are seeing elsewhere against JPY, CAD has failed to breakdown. On the backof last week’s rally in oil prices and given the residual upside risks in theoutlook for oil, CAD looks well placed to fend off the current JPY safe-havenrally.The current […]
Credit AgricoleAsia overnight The dust has tentatively settled across financial markets overnight, with risk sentiment making a timid recovery. In this context, the USD has given up only a modest part of the ground made yesterday against all G10 FX peers bar the JPY which has been a clearer underperformer during the Asian session. USD/JPY […]