Tag: tickmill
TitleXAUUSD Day | Reacting off a pullback resistance? TypeBearish Reversal Preference:Wait for the price to pullback to our pivot point at 1885.032, which serves as a pullback resistance level. A reversal from this point could potentially lead the price to decline to the 1st support level at 1812.821, identified as a swing low support Alternative […]
On Thursday, the dollar finally took a step back, but the rebound of its major rivals looks more like a technical retracement, as the fundamental picture hasn’t changed much. The American currency was weakened by a “relief rally” in risk assets, with the S&P 500 attracting buyers in the support zone we’ve been discussing since […]
TitleDE30EUR H4 | Bearish reaction off 50% fibo? TypeBearish Reversal Preference: Price could rise towards our pivot point at 15476.5, which is a pullback resistance level, aligning with the 50% fibo retracement. If price reacts bearishly, then price could fall to the 1st support level at 15289.3, which is an overlap support level. Alternative scenario: […]
EZ CPI Drops Sharply The latest round of eurozone CPI figures made for better reading for the ECB today. Headline CPI was seen cooling to 4.3% last month, down from 5.2% prior and below the 4.5% the market was looking for. Similarly, core CPI was seen cooling to 4.5% from 5.3% prior, below the 4.8% […]
TitleGBPJPY H4 | Bearish reaction off 127.2% fibo? TypeBearish Reversal Preference: Price is hovering below our pivot point at 182.66, which is a pullback resistance level, aligning with the 127.2% fibo extension. Price could react bearishly and fall to the 1st support at 181.83, which is a pullback support level. Alternative scenario:If price breaks above […]
USDCAD Heavily Sold USDCAD is trading firmly lower today as the weakness in USD finds an easy match up with the strong Canadian Dollar. CAD has been one of the best performing currencies recently due to the upward support derived from higher oil prices. With supply concerns and recent actions from OPEC+ helping push oil […]
USD Pulling Back The US Dollar is correcting lower into the end of the week as traders brace for a slew of key US econ readings latest today. Yesterday. Final Q2 US GDP was seen coming in at 2.1%, as previously recorded. However, the market had expected a slight revision higher to 2.2%. The reaction […]
TitleGBPUSD Day | Reacting off resistance? TypeBearish Reversal Preference:The price is rising toward the pivot point at 1.23125, which is a pullback resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.21108, an overlap support Alternative scenario:However, if the price breaks above the pivot, it might […]
Daily Market Outlook, September 29, 2023 Munnelly’s Market Commentary… Asian equity markets took their cues from Wall Street, which showed positive momentum as yields and oil prices declined from recent peaks. However, gains in the region were somewhat limited as investors approached quarter-end and amid holiday closures in several countries. The Nikkei 225 initially made […]
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