Tag: tickmill
Daily Market Outlook, October 9, 2023 Munnelly’s Market Commentary… Asian equity markets mostly traded lower in quiet markets, with concerns about geopolitical tensions and a surprise multi-front attack by Hamas on Israel weighing on sentiment. The conflict led to a flight to safety, boosting T-note futures and gold prices. Oil prices also surged amid heightened […]
TitleNZDUSD H4 | Rising into resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.59898 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.59334 which is a pullback support level. Alternative scenario:If price breaks above the pivot […]
TitleEURGBP H4 | Falling to 38.2% Fibo support TypeBullish Bounce Preference: Price is falling towards the pivot point of 0.86333 which is an overlap support that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.86746 which is a […]
Stock markets in Asia and Europe experienced a decline on Monday, while gold prices rose and the dollar resumed its upward movement towards local highs amid a sharp escalation of tensions in Israel. The markets also took into account past experiences of conflicts in the Middle East, which, in one instance, led to a recession […]
TitleXAUUSD H4 | 38.2% Fibo resistance overhead TypeBearish Reversal Preference:Price is rising towards the pivot point of 1861.675 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1828.484 which is a pullback support […]
TitleUSDJPY H4 | Yen to strengthen further? TypeBearish Reversal Preference: Price could rise towards the pivot point of 149.427 which is a pullback resistance and potentially reverse from here; we could see momentum carry price down to its 1st support at 148.406 which is an overlap support that aligns close to the 38.2% Fibonacci retracement […]
The price of silver rebounded from the lower boundary of the downtrend, which is located next to the level of 20.80, and formed the bullish engulfing at the end of the trading week. The asset’s price is likely to rise, enter the broken uptrend, rebound, and drop. So, let’s observe what might happen. The currency […]
Oil prices resumed their downward trend on Wednesday following the release of employment data from ADP: Job growth was significantly lower than expected, with only 83K jobs added compared to the anticipated 156K. The accompanying commentary was equally disconcerting, highlighting a marked deceleration in job growth throughout September, primarily attributed to job reductions within large […]
The US Dollar saw an uptick following the Payrolls report, which unexpectedly exceeded the forecast in terms of job growth. The DXY dollar index rose above 106.50, once again targeting the bullish support level of 107: The US economy added 336,000 jobs in September, while the consensus forecast had anticipated 160,000. However, other indicators, such […]
TitleUSDCAD H4 | Falling to 23.6% Fibo support TypeBullish Bounce Preference:Price is falling towards the pivot point of 1.36955 which is an overlap support that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.37841 which is a swing-high […]