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

TitleUSDJPY M15 | Bearish DropTypeBearish ReversalPreference:Price is rising toward the pivot point of 154.48, a pullback resistance level. A reversal from this level could lead the price to fall to 1st support level at 153.77, 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 144.78, 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

TitleFalling to 38.2% Fibonacci SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 1.3737 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 1.3830 which is a pullback resistance level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 1.3669 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club ..read more

TitleEURUSD M15 | Drop from Pullback resistanceTypeBearish ReversalPreference:Price is rising toward the pivot point of 1.0699, a pullback resistance. A reversal from this level could lead the price to fall to 1st support level at 1.0653, which is considered a pullback support level.Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.0733, 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

TitleXAUUSD H1 | Bearish reversalTypeBearish DropPreference:Price is currently at the pivot point of 2372.49 an overlap resistance that aligns with the 50% Fibonacci. A drop from this level could lead the price to fall to 1st support at 2348.77, a multi swing low support levelAlternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 2397, a 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

Daily Market Outlook, April 18, 2024Munnelly’s Macro Minute…“Scant Econ Data, CB Speakers On Deck Along With Tech Earnings”Asian stocks rose on Thursday as authorities' resistance to a strengthening dollar helped stabilize exchange rates and restore public confidence in the region's financial systems. Following a joint statement by US Treasury Secretary Janet Yellen and the finance ministers of Japan and South Korea expressing concerns about the weakening of the two Asian currencies, the value of the yen and won increased against the dollar. A global measure of emerging market currencies was s ..read more

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