GBP/USD retreats after facing a wall of resistance in 1.2400
GBP/USD snaps two days of gains and tumbled below Thursday’s close of 1.2406, slumping toward 1.2370, amidst a choppy trading session. Inflation data revealed in the United States (US) augmented the likelihood of small-size rate hikes by the US Federal Reserve. Therefore, the GBP/USD is trading at 1.2372, below its opening price by 0.27%. Read More… […]
USDCAD,H4 | Potential Reversal from Major Resistance
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world class analysts.TitleUSDCAD, H4 | Potential reversal off a key overlap resistanceTypeBearish ReversalPreference:We're seeing price test a key overlap resistance at 1.3345. There's a chance price might reverse from here to push prices all […]
UK FTSE 100 Clings to Support as German Dax Battles Resistance
FTSE 100, Dax 40 Talking Points: FTSE 100 – price action unchanged around 7770. Dax 40 resilience holds above 15,100. Stocks remain firm despite rising fundamental risks Recommended by Tammy Da Costa Get Your Free Equities Forecast Stock Indices Remain in Narrow Range Ahead of Next Week’s Event Risk It’s been an uneventful week for […]
Gold Finds Resistance at $1950!
Gold price retreated from the $1,950 handle, which is the highest level since April 2022. Modest Dollar strength weighed on the yellow metal as the DXY found some support. Recession fears should limit THE losses for Gold and smaller rate hikes expected by the Fed. Timestamps XAUUSD 01:54 DXY 03:00 The post Gold Finds Resistance […]
GBP/USD Testing Stubborn Resistance Again
GBP/USD – Prices, Charts, and Analysis GBP/USD remains near multi-month high levels. US Q4 GDP is the first of two big US economic releases this week. Retail trade data underpins a bullish-contrarian bias. Recommended by Nick Cawley Forex for Beginners The British Pound is relatively unchanged over the week so far with little in the […]
DAX, FTSE Prices Muted in Narrow Range of Technical Support and Resistance
FTSE 100, DAX 40 Technical Outlook Dax 40 trades flat with psychological support and resistance limiting the imminent move. FTSE 100 bulls and bears struggle to gain traction as bullish momentum stalls. Fundamental and technical levels mixed with earning season providing an additional catalyst for price action. Recommended by Tammy Da Costa Get Your Free […]
USDCAD ticking toward 100 day MA and cluster of resistance
The USDCAD has continued it’s run to the upside after an early move above the 200 hour MA, ultimately led to the breaking above the confined range between 1.3344 and 1.3454 (110 pips – see red box in the chart below). USDCAD moves up to a cluster of resistance The momentum higher has now taken […]
Dow Jumps to Test Previous Resistance!
The Dow Jones nears a previous resistance target as the Fed continues to drive the market. In addition, the Dollar has dropped over 11% from its peak in the last three months. With the Fed ending its aggressive rate hikes, how far will the Dollar keep dropping? Timestamps DXY 01:50 DOW 03:05 The post Dow […]
S&P500 needs solid earnings to go past key resistance [Video]
US inflation came in line with expectations. The kneejerk market reaction to the data was surprisingly negative, but the major US stock indices extended rally, while the US dollar dropped sharply. The S&P500 ended the session at a very important technical level – the index is now testing the ceiling of the 2022 bearish trend […]
S&P 500 Post CPI Rally Muted by Technical Resistance
S&P 500 Post CPI Outlook: 4000 Technical Support and Resistance Firms Ahead of Earnings SPX 500 retests 4021 but bears retaliate driving prices back below 4000. US equity futures mixed after US CPI prints in-line with expectations. Inflation pressures ease but robust labor market could give the Fed more ammunition to hold rates higher for […]