Tag: tickmill
UK Growth Drops Sharply The British Pound has come under renewed selling pressure into the middle of the week as traders digest the latest set of UK growth figures. According to the ONS, the UK economy shrank by 0.5% in July. This was deeper than the 0.2% dip the market was looking for and […]
TitleJP225USD H4 | Falling to pullback support TypeBullish Bounce Preference: Price is falling towards the pivot point of 32133.96 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 32749.26 which is an […]
Daily Market Outlook, September 13, 2023 Munnelly’s Market Commentary… Asian equity markets faced downward pressure, influenced by the recent tech-related declines on Wall Street, driven by post-Apple event disappointment. Additionally, market participants exhibited caution as they awaited the release of upcoming U.S. Consumer Price Index (CPI) data, which is of significant interest to global financial […]
TitleCHFJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference: Price could rise towards the pivot point of 165.722 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 164.113 which is a multiple swing-low support […]
TitleEURJPY H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price is approaching the pivot point at 157.83, which is an overlap resistance level and slightly above the 61.8% fibo retracement and 78.6% fibo projection. We can expect price to have a bearish reaction off the pivot point and fall to the 1st support […]
FTX Sell-Off to Begin The Bitcoin market is seeing plenty of volatility this week. The market is reacting to news that bankrupt crypto-broker FTX is set to begin liquidating its assets this week. The now-collapsed broker has major holding of several big coins such as Solana, ETH and Dogecoin among others. The sell-off is feared […]
Wages Rise Again Focus is back on the BOE today after the latest set of UK employment data released this morning. The Office for National Statistics reported that average wages (excluding bonuses) rose 7.8 % higher in the three months through July when compared with the same period a year earlier. This marks the fastest […]
Investors have taken a more positive view of the systemic risk situation in China following news that the major Chinese developer Country Garden has been granted a deferral of coupon payments on some medium-term bonds. This development has lifted investor sentiment in global markets, with Asian stocks reacting optimistically to the news from China today. […]
TitleAUDUSD H4 | Approaching 61.8% Fibo resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.64682 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.63574 which is a pullback support […]
Eurozone Growth Fears The Euro remains under pressure on Tuesday as the latest set of eurozone economic data adds to bearish sentiment. The ZEW economic sentiment survey for the eurozone slipped further into negative territory at -8.9 today, down from -5.5 the prior month and below the -6.2 the market was looking for. Fears for […]