Tag: tickmill
PMI data released on Friday showed that manufacturing activity across Asian countries experienced uneven changes in November. While Japan and Korea saw a slowdown, unexpectedly, private enterprises in China reported improved sentiments compared to the previous month. The relevant index from Caixin Agency rose from 49.5 to 50.7 in November, surpassing expectations that it would […]
Title:GER40 H4 | Bearish Reversal off Pivot? TypeBearish Drop Preference:The current price has touched the pivot line at 16299.70, a swing high resistance. Price could react bearishly off pivot and fall to 1st support level at 16045.42, a pullback support. Alternative scenario:Price could break through the pivot at 16299.70, a swing high resistance, moving towards […]
Gold Near Highs Gold prices are starting the final month of the year in the green today. The market enjoyed a solid rally across November and is now holding just below all-time highs ahead of today’s keenly awaited US manufacturing PMI. On the back of the recent drop off in US inflation and labour market […]
EUR Slides on CPI Drop A slew of weaker-than-forecast eurozone inflation data this week has put an end to the rally for now. With Spanish, German and overall eurozone CPI seen falling again last month, the market has now moved to fully price in an ECB rate cut by April next year with odds […]
TitleGBP/JPY H4 | Bullish bounce off 38.2% Fibo? TypeBullish Bounce Preference:The current price is on the pivot level at 187.092, which is a pullback support and it also aligns with the 38.2% fibo retracement level at 187.121. Price could bounce off pivot level and towards the 1st resistance at 188.192, a pullback resistance. Alternative scenario:Price […]
TitleEURJPY H4 | Bearish reversal off 50% fibo? TypeBearish Reversal Preference: Price could rise towards our pivot point at 162.14, which is a swing high resistance level, aligning with the 50% fibo retracement and 61.8% fibo projection. Since there is fibo confluence here, price could react to the pivot point and fall to the 1st […]
Daily Market Outlook, December 1, 2023 Munnelly’s Market Commentary… Asia – Asian-Pacific stocks had a relatively subdued start to the new month, experiencing limited movement as markets took a pause following the November rally. Economic releases and geopolitical developments, including the resumption of the conflict in Gaza, kept investors engaged.The Nikkei 225 index in Japan […]
TitleAUDUSD H4 | Bullish bounce off 38.2% fibo? TypeBullish Bounce Preference: Price is falling to our pivot point at 0.6588, which is an overlap support, aligning with the 38.2% fibo retracement. If price bounces off our pivot point, price could rise towards the 1st resistance at 0.6629, which is a swing high resistance level. Alternative […]
Crude Lower Crude prices have turned lower into the end of the week following yesterday’s OPEC+ meeting. The market was widely expecting the group to announce an extension of current production restrictions through next year with some speculating that perhaps we might see a deepening of current cuts. However, reports of tensions within the group […]
TitleEURJPY H4 | Bearish reaction off pivot? TypeBearish Reversal Preference:Price could react to our pivot point at 161.52, which is a pullback resistance level. If price reacts bearishly, then we can expect price to fall to the 1st support at 160.67, which is an overlap support and at the 100% fibo projection. Alternative scenario:If price […]