TitlePotential Bullish Bounce off 38.2% Fibonacci RetracementTypeBullish BouncePreference:Price is falling towards the pivot point of 89.72 which is a pullback 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 91.62 which is a pullback resistance level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 88.54 which is an overlap support that aligns close to the 50.0% Fibonacci retracement level.To discuss this trading idea, head over to Tic ..read more

FTSE Holds SupportThe FTSE is stabilising today following sharp losses across yesterday’s session. The index suffered an almost 2% drop yesterday amidst a general weakening of risk appetite in response to rising geopolitical risks linked to the conflict in the Middle East and a fresh rally in the US Dollar. The greenback continued to strengthen yesterday on the back of Monday’s better-than-forecast US retail sales prints, with the DXY breaking out to fresh highs for the year. With traders now pushing out forecasts for initial Fed easing from June to September, risk assets have come under press ..read more

Dollar in DemandThe US Dollar is holding at highs as we move through the middle of the week. Monday’s better-than-forecast retail sales data, hot on the heels of last week’s bumper inflation reading, has further strengthened the view that the Fed won’t be cutting rates in June. Speaking last night, Fed chairman Powell was heard pouring cold water on near-term easing expectations. Speaking at a US/Canada policy forum, the Fed chief said that the US economy had failed to make further progress on inflation this year.   Powell CommentsPowell explained that on the back of falling inf ..read more

TitleHeading towards a Pullback ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.8568 which is a pullback resistance that sits above the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.8548 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.8585 which is a multis-swing-high resistance level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to o ..read more

TitleEURUSD M15 | Bullish RiseTypeBullish BouncePreference:Price is falling toward the pivot point of 1.0627, a pullback support.. A bounce from this level could lead the price to rise to 1st resistance at 1.0665, a swing high resistanceAlternative scenario:If price breaks below the pivot, it could fall to 1st support at 1.0601, a swing low supportTo 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 17, 2024Munnelly’s Macro Minute…“Another Powell Flip Flop On Rate Cut Timing Weighs On Risk”On Wednesday, global markets continue navigating through some volatility, especially with the anticipation of the Federal Reserve's actions regarding interest rates. The fluctuation in Asian currencies and the recovery of the MSCI Asia Pacific Index suggest a mixed sentiment among investors. The decline in the dollar after its recent surge is noteworthy, particularly in its impact on emerging-market currencies. The varied performance of Asian stocks, with Japan facing losses ..read more

Inflation data releases from both the Eurozone and the United Kingdom spurred the recovery of the Euro and the Pound Sterling on Wednesday. Let's delve into the implications of these figures and the potential trajectories for these currencies. Eurozone InflationEURUSD bounced off multi-week lows following the release of the final Harmonized Index of Consumer Prices (HICP) for March. With figures aligning closely with initial estimates, the year-on-year HICP stood at 2.4%, slightly lower than February's 2.6%. Similarly, the Core HICP, which excludes volatile components, maintained a YoY in ..read more

TitleGBPUSD M30 I Bullish BounceTypeBullish BouncePreference:Price is falling toward the pivot point of 1.2432, a pullback support that aligns with 38.2% Fibo retracement. A bounce from this level could lead the price to rise to 1st resistance at 1.2460, a multi-swing high resistanceAlternative scenario:If price breaks below the pivot, it could fall to 1st support at 1.2404, a swing low supportTo 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

Netflix Earnings DueAs US earnings season rolls on, focus today falls on Netflix which will report Q1 earnings at the market close. On the back of the last quarter’s weaker-than-forecast EPS result, investors are looking to see whether the streaming giant bounced back over Q1 or earnings worsened. Ahead of the results, Netflix shares are holding just below YTD highs. The stock has seen a 36% rally this year. The rally has stalled over recent weeks, however, and with risk appetite seen softening this week, the stock is vulnerable to a drop lower unless we see today’s results coming in at or abo ..read more

Daily Market Outlook, April 16, 2024Munnelly’s Macro Minute…“Asian Markets Follow Wall Street Into The Red”On Tuesday, Asian stock markets experienced widespread declines, mirroring the sell-off on Wall Street the previous day. This was driven by a surge in bond yields after a report revealed stronger-than-expected U.S. retail sales growth in March. The data raised concerns that the US Fed may delay lowering interest rates in June. Additionally, traders remained wary of geopolitical tensions in the Middle East. Most Asian markets ended Monday with lower closing prices. In light of the latest d ..read more