Tag: tickmill
Daily Market Outlook, September 21, 2023 Munnelly’s Market Commentary… Asian equity markets faced pressure following the Federal Open Market Committee’s (FOMC) hawkish pause, where the Fed’s dot plots indicated one more rate hike by year-end and fewer expected cuts next year. The Nikkei 225 slipped below the 33K handle as Japanese yields surged to decade […]
TitleGBPUSD H4 | Rising toward 1st resistance? TypeBullish Bounce Preference: The price has just bounced off the pivot point at 1.23054, which aligns with the 127.2% Fibo extension level. A bounce from this level could lead the price to rally toward the 1st resistance at 1.23694, which is a pullback resistance. Alternative scenario:However, if the […]
TitleUSDCAD H4 | Reversal from 38.2% Fibo resistance TypeBearish Reversal Preference: Price is rising towards the pivot point of 1.35041 which is an overlap 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 1.33895 which is a […]
The Federal Reserve left the interest rate unchanged at yesterday’s meeting in the range of 5.25-5.5% and indicated that it might raise the rate again later this year. Regarding the medium-term perspective (including 2024), the central bank showed a reduced dovish bias to expect a rate cut compared to before. Furthermore, optimism about the ‘soft […]
Copper Under Pressure Copper prices have come under heavy selling pressure on the back of the September FOMC yesterday. With the Fed signalling a ‘higher for longer’ outlook on rates, USD saw fresh buying, weighing on commodities prices into the back end of the week. Copper prices have been fluctuating greatly over recent months as […]
BOE Up Next GBP remains under heavy selling pressure ahead of the BOE meeting today. Over recent weeks the Pound has fallen sharply amidst a swift repricing of UK rates. With UK inflation falling and the BOE signalling that peak rates are in sight; GBP has deteriorated significantly. While a further hike is still the […]
Fed Sees Fewer Cuts The US Dollar remains well bid today on the back of the September FOMC. While the Fed held rates unchanged, as expected, the guidance offered was firmly bullish. The majority of members agreed that further tightening would likely be appropriate this year. Additionally, the Fed is now expecting fewer rate cuts […]
TitleAUDUSD H4 | Falling to 127.2% Fibo support TypeBullish Bounce Preference:Price is falling towards the pivot point of 0.64005 which is an overlap support that aligns clsoe to the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.6473 which is a […]
TitleEURUSD H4 | Bouncing off support (Day)? TypeBullish Bounce Preference:The price has just bounced off the pivot point at 1.06327, a multi-swing low support level and a swing low daily support. A bounce from this level could lead the price to rally toward the 1st resistance at 1.06737, which is a pullback resistance… Alternative scenario:However, […]
TitleEURUSD H4 | Potential bullish reversal? TypeBullish Bounce Preference: The price has just bounced off the pivot point at 1.06773, which is a multi-swing low support level. A bounce from this level could lead the price to rally toward the 1st resistance at 1.07276, which is a pullback resistance. Alternative scenario:However, if the price breaks […]