Tag: tickmill
The price of the currency pair EUR/USD has closely approached the resistance level of 1.1000. The asset’s price might eventually rebound from this resistance and drop. In this case, it would be important to follow the candlestick formations next to this level to forecast the upcoming price movements. The price of silver is heading up […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price could fall towards the pivot point of 0.61667 which is a potential breakout level and could drop lower from here; we could see momentum carry price down to its 1st support at 0.61405 which is an overlap support that aligns with the 50.0% Fibonacci retracement level. Alternative scenario:If price […]
TitleGBPUSD H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.2807 an overlap resistance level. A drop from this level could lead the price to fall to 1st support at 1.2761, a pullback support that closes to 23.6% Fibo Alternative scenario: If price breaks above the pivot, it could rise […]
NFP in focus All eyes are on the US Dollar today as traders get ready for the release of February jobs data. On the back of a string of bumper labour reports over recent months, the market is expecting a cooler set of readings today, particularly following a softer-than-forecast ADP number earlier in the week. […]
Bitcoin Holds at Highs Following the order book clearout we saw on Tuesday, Bitcoin prices have been grinding back up towards highs. Weakness in the US Dollar ahead of today’s key labour market updates has been helping bolster sentiment with bulls hoping for a fresh move lower in USD today to help spur Bitcoin on. […]
TitleEURUSD H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.0947, an overlap resistance level. A drop from this level could lead the price to fall to 1st support at 1.0915, a pullback support. Alternative scenario:If price breaks above the pivot, it could rise to 1st resistance at 1.0962, above […]
June Cut in Focus Yesterday’s ECB meeting was a pivotal moment for FX traders with the bank essentially giving the nod for a June rate cut. Monetary policy was held unchanged yesterday, as expected. However, Lagarde noted that the ECB continued to make good progress towards achieving its inflation target but wanted more confirmation that […]
Daily Market Outlook, March 8, 2024 Munnelly’s Macro Minute… “Dovish Take On Fed & ECB Supports Risk Sentiment ” This morning, Asian equity markets are experiencing an increase after significant gains in US markets yesterday, driven by comments from US Federal Reserve Chair Powell during his testimony to Congress. Powell suggested that the Fed is […]
Last Monday, the price of Bitcoin reached its maximum point, rebounded, dropped, and formed a bearish engulfing. Currently, the asset’s price is in the middle of engulfing, and this didn’t come as a surprise. Hence, Bitcoin might potentially undergo a stronger correction soon. So, let’s observe what is going to happen next. Should the price […]
ETH Pauses… For Now Similar to the price action we’re seeing in Bitcoin, Ethereum is paused for now at the highs of the recent rally. ETH futures have seen a more than 75% rally off the YTD lows, with price trading up to its highest level since December 2021, eclipsing the 202 highs. Given the […]
