Tag: tickmill
Inflation Expectations All eyes are on the US Dollar today as traders brace for the latest US inflation data due this afternoon. Last time around, inflation was seen falling back to 3.1% from 3.4% prior, a little above the 2.9% the market was looking for. Today the market is looking for CPI to have remained […]
TitleEURJPY H4 | Potential bullish breakout TypeBullish Breakout Preference:EURJPY is rising to the pivot point at 161.756, the overlap resistance, price could break above the pivot and rise towards the 1st resistance at 163.578, the swing-high resistance. Alternative scenario:Price might reverse to the 1st support at 160.231, the pullback support that aligns with 61.8% Fibonacci […]
USDJPY Heading Lower USDJPY is under heavy selling pressure as we head towards the US session on Monday. Traders continued to offer the pair through early European trading, extending the declines seen form the Asian open overnight. The pair has now shed almost 3% from the YTD high as a shift in expectations regarding the […]
Market sentiment continues to ride high, buoyed by persistent expectations of a Federal Reserve rate cut in the June policy meeting. This sentiment found reinforcement after the release of the US Employment report last Friday, which revealed softened wage growth coupled with a higher Unemployment Rate. The US Dollar embarked on the week with a […]
Daily Market Outlook, March 11, 2024 Munnelly’s Macro Minute… “Markets Cautious Ahead Of US Inflation Data” Across Asia, most equity indices experienced declines amid speculation that the Bank of Japan might soon raise interest rates. Economic expansion in Japan picked up speed in the last quarter, raising expectations that the Bank of Japan may raise […]
TitleEURUSD H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.0939, an overlap resistance. A drop from this level could lead the price to fall to 1st support at 1.0902, a pullback support level Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.0981, […]
USD Falls Following Jobs Data Bitcoin prices are back in the green on Monday with BTC futures breaking out to fresh all-time highs. The move comes amidst a weakening of the US Dollar on the back of a mixed set of US jobs data on Friday. While the headline NFP reading came in above […]
TitlePotential Bullish Breakout TypeBullish Breakout Preference:Price is rising towards the pivot point of 1.34940 which is a potential breakout level and could climb higher from here; we could see momentum carry price up to its 1st resistance at 1.35178 which is a pullback resistance that aligns close to the 50.0% Fibonacci retracement level. Alternative scenario:If […]
TitleGBPUSD H1 | Dropping to support? TypeBearish Drop Preference: Price is currently at the pivot point of 1.2849, an overlap resistance. A drop from this level could lead the price to fall to 1st support at 1.2761, a pullback support level. Alternative scenario: If the price breaks above the pivot, it could rise to 1st […]
GBP Breaking Out The British Pound is attempting to breakout against the US Dollar with GBPUSD currently testing YTD highs. USD has moved lower recently in line with worsening US economic data and the view that the Fed might cut rates as soon as June. Friday’s US labour market readings showed a sharp drop in […]
