TitleXAUUSD H4 | Bearish DropTypeBullish BreakoutPreference:Waiting for the price to pullback at the pivot point of 2377, a pullback resistance. A drop from this level could lead the price to fall to 1st support at 2342, an overlap support levelAlternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 2400, a multi swing-high resistanceTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts ..read more

Copper Rally ContinuesCopper prices are seen breaking out to their highest level since June 2022 today as geopolitical uncertainty creates growing supply risks. News of fresh UK/US sanctions on Rusisan metals suppliers is stoking fears that an already-tight market will be further choked of supply. Copper futures are currently trading around 24% higher on the year, shrugging off the impact of a stronger US Dollar as traders focus on tight supply. Indeed, the latest COT data shows that copper long positions have been built up to fresh record highs in recent weeks, now the equivalent of more than ..read more

BTC Turning HigherBitcoin prices are seen pushing higher across early European trading on Monday as the market extends gains on the back of Friday’s bullish reversal. The much-anticipated Bitcoin halving event so far looks to be keeping prices supported for now. The move comes despite some speculation that, on the back of the run up seen prior to the event, we might witness a “buy the rumour, sell the news” dynamic play out. Still, for now, the market remains around the lower mid-point of the range which has framed price action over the last two months.ETF DemandWith the halving event out of t ..read more

TitleGBPUSD H4 | Bearish reversalTypeBearish ReversalPreference:Price is rising toward the pivot point of 1.2422, a pullback resistance close to the 61.8% Fibonacci retracement level. A reversal from this level could lead the price to fall to 1st support level at 1.2362, a swing-low support level.Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.2499, a swing-high resistance levelTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts ..read more

Daily Market Outlook, April 22, 2024Munnelly’s Macro Minute…“Middle East Tensions Recede Markets Consolidate”Equity markets in Asia mostly traded higher as tensions in the Middle East remained stable, allowing attention to shift back to corporate earnings and economic fundamentals. Oil and gold prices continued to ease, signaling a relief rally in the markets. Bank of Japan Governor Ueda suggested over the weekend that loose monetary policy would persist due to soft underlying inflation. Concerns over escalating tensions in the Middle East continue to affect financial markets, potentially dela ..read more

TitleFalling to 61.8% Fibonacci Pullback SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 85.65 which is a pullback support that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 90.69 which is a pullback resistance level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 81.64 which is a pullback support that sits below the 50.0% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club ..read more

Despite the contentious backdrop of geopolitical risks and the Federal Reserve adopting a more hawkish stance in its statements, EUR/USD managed to stage a recovery above the 1.0650 mark. The flight to the safe embrace of the US Dollar (USD) at the start of the week momentarily dented the Euro's (EUR) spirits, yet it swiftly rebounded:Thursday opened with the Euro on the offensive, galvanized by Christine Lagarde's resolute stance on combating inflation. Her proclamation, "The game is not over," infused a dose of uncertainty into the interest rate narrative, eliciting a bullish response from t ..read more

TitleGBPUSD M15 I Bearish dropTypeBearish ReversalPreference:Price is rising toward the pivot point of 1.2435, a pullback resistance close to the 50% % Fibonacci retracement level. A reversal from this level could lead the price to fall to 1st support level at 1.2392, which is considered a multi-swing low support level.Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.2464 , an overlap  resistance levelTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts ..read more

TitleHeading into ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 91.60 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 89.74 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 92.50 which is a swing-high resistance level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-cl ..read more

A ..read more