Tag: tickmill
JPY Under Pressure The Japanese Yen has weakened sharply across early European trading on Tuesday following the Bank of Japan’s December monetary policy meeting overnight. Despite the usual speculation that the BOJ is headed towards policy normalisation and expectations of a potential ‘signal’, the BOJ once again held policy unchanged and reaffirmed its commitment to […]
Daily Market Outlook, December 19, 2023 Munnelly’s Market Minute… Asian stocks traded mixed after a slow start, with limited news and no significant impact from the BoJ’s actions. The JPY was affected as the BoJ kept its rate and YCC unchanged, and acknowledged the recent cooling in inflation.BoJ Governor Ueda says that any policy change […]
Copper Rally Resumes Copper prices are turning higher today with the metal once again keeping pressure on the 3.9410 resistance level, suggesting risks of a breakout higher. The metal has advanced well off the October lows and, despite some correction lower at the start of the month, is now back up near Q3 highs. The […]
TitleRising into 127.2% Fibo extension resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.67357 which is a pullback resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.66146 which is a Pullback support that […]
Silver is heading down. The price of silver underwent a correction, approached the broken downtrend, and formed a bearish engulfing. Since the breakout of the downtrend was false, the asset’s price might potentially dive even deeper and gain the required support in the zone formed between levels 22.00 and 22.30. So, let’s observes what is […]
The Dollar Index on Monday is hovering near the neutral level of 102.50, indicating that the market has absorbed the major news from the past week. This, of course, refers to the parade of performances by major central banks – the Federal Reserve, the European Central Bank, and the Bank of England. The U.S. Federal […]
Correction Lower Continues Bitcoin bulls are starting the final full trading week of the year with a sense of caution today as BTC futures continue to trade lower. The move, which appears linked to profit taking ahead of year-end, has seen the market turning back down towards the December lows around 40435. However, another reason […]
TitleGBPUSD D1 | Resistance overhead TypeBearish Reversal Preference:Price is rising towards the pivot point of 1.27953 which is an overlap resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.25013 which is an overlap support that aligns with the 38.2% Fibonacci retracement level. Alternative […]
TitleEURJPY H4 | Bounced off support line TypeBullish Bounce Preference:The price has bounce off the pivot point at 154.606, the pullback support level and is rising towards the 1st resistance level at 157.518, multi-swing-high resistance level. Alternative scenario:Price could break through the pivot line at 154.606 and reverse to the 1st support line at 152.21, […]
TitleNZDUSD Day | Potential bearish reversal? TypeBearish Reversal Preference:Price is reacting off our pivot line at 0.62388, pullback resistance and could reverse to the 1st support line at 0.61059, the pullback support. Alternative scenario: The price could breakthrough the pivot at 0.62388 and rise to 1st resistance level at 0.63071, the swing-high resistance.. To discuss […]