Bitcoin And Gold Are On The Rise!

Bitcoin has pulled from the supporting level of 22500, forming a bullish engulfing. Currently, it seems that the asset might potentially jump and face resistance at the level of 25000. So, let’s wait and see what is about to happen next.Gold remains at the supporting level of 1880 for now. The asset is likely to target the broken uptrend soon. It might also form a bullish flag and hit the level of 1820. Only time will tell what is going to happen next.EUR/USD is trying to consolidate and pull back to the broken uptrend next to the level of 1.0900. The asset might potentially pull back from this level and drop all the way to the level of 1.0350.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/bitcoin-and-gold-are-on-the-rise-09022023"
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USDCAD Potential for Bearish Drop to recent swing low

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 to recent swing low TypeBearish momentum Preference:Looking at the H4 chart, my overall bias id bearish as there is a descending trend line, Looking for sell entry at1.34512. take profit at 1,32643.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-potential-for-bearish-drop-to-recent-swing-low-1"
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EURUSD Potential for bearish drop towards previous swing low

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleEURUSD Potential for bearish drop towards previous swing lowTypeBearish ReversalPreference:Looking at the H4 chart, my overall bias for EURUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.Expecting price to drop from the pivot level towards the support where the previous swing low is.It's worthy to note that there is an intermediate support which is the overlap support.The resistance level is the overlap resistance.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-potential-for-bearish-drop-towards-previous-swing-low"
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The FTSE 100 surges to a record high

The FTSE 100 has jumped to a record this morning, but what’s driving the index’s performance and can the rally continue?

from Moneyweek RSS Feed https://moneyweek.com/ftse-100-record
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Market Spotlight: Uber's Smooth Ride to Continue?

Uber Up NextOn the back of a slew of major tech names reporting last week, focus this week shifts to ride hailing technology company (and food delivery technology company) Uber. The group has seen three consecutive quarters of earnings misses and traders and investors alike will be watching today to see if Uber can put an end to its losing streak. If the current rally is anything to by, it would suggest there is some optimism in the market. Uber stock has rallied over 39% from the 2023 opening price, having now reclaimed almost a third of the losses suffered during the decline from 2021 highs.Court Win Boost SentimentLooking at today’s data then, the market is projecting adjusted losses for the quarter of $0.15 per share on revenues of $8.513 billion. This would mark a decent improvement on the prior quarter’s results.  Sentiment towards the stock improved sharply recently on the back of Uber winning a court case resulting in the blocking of a proposed rate hike from the New York City Taxi and Limousine Commission which might have cost Uber an extra $22 million per month.Demand Picking UpFalling covid rates and the ongoing pickup in demand after the pandemic looks likely to see Uber’s performance having picked up over the last quarter. Seasonal demand around the holidays should also help lift Uber’s results. Traders will be keen to hear the outlook for the current quarter as well as Uber’s view on downside risks to it and the US economy moving through 2023.Technical ViewsUberThe rally in Uber shares this year has seen the stock breaking above the bear trend line from 2021 highs as well as through the 28.29 and 33.29 resistance levels. With momentum studies firmly bearish, the focus is on further upside while 33.29 holds as support, putting focus on 38.93 as the next upside target for bulls.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-uber-s-smooth-ride-to-continue"
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Daily Market Outlook, February 8, 2023

Daily Market Outlook, February 8, 2023Powell’s Talking Both Sides Of The Street, Investors Climb The Wall of WorryMixed response from Asian equities to Fed Chair Powell’s speech, as Wall Street whipsawed in reaction to what many investors saw as two sided comments regarding the rate path going forward with markets pricing a higher terminal rate, however, Powell once again acknowledged nascent disinflationary signals, most importantly Powell gave little push back on loser financial conditions, this led investors to bid up US equities into the close, the benchmark SP500 ending the day at highs notching up a 1.29% gain closing at 4164. Weak earnings from regional powerhouses Softbank, Sharp & Nintendo (issuing a 10% pay rise to employees, shares down 8% in response) weighed on the NIkkei leading the Shanghai Comp and Hang Seng lower, with all three major indexes nursing losses of circa -0.4%. With no tier one econ data of note European markets are taking their lead from a robust round of earnings on the continent, the CAC40 in France is the standout performer up 0.4% at the open, as Oil Major Total Energies delivered record break earnings continuing the trend of energy sector players banking the benefits of inflation driven gains in energy prices, while less palatable to consumers and politicians, investors continue to reap rewards. In the UK, the country's premier home builder Barratt Developments issued a H1 update in which they underlined a continued uncertain outlook, hampered by elevated mortgage rates leading to a steep decline in housing demand, however, the property player did announce that buybacks would recommence, helping to send the FTSE to new record highs at the open of trade in London.In the US, equity futures are in the red pulling back by 0.3%, with no significant econ data on the docket today, investors will once again focus on central bank policy, with a bevy of Fed policymakers on deck this afternoon, including Kaskari,Wiliams, Waller, Barr and Cook, it is expected that they will tow a similar line to Fed Chair Powell, while accepting some signs of disinflation (mentioned 11 times in his speech last night) it remains too early to consider a pause or pivot in rate policy, indeed the heat in the US labour market remains front and centre concern for the central bank as such expect the lean from messaging to be on the ‘higher for longer’ with markets currently pricing a terminal rate at 5-5.25% ahead of next week's inflation data in the US.FX Options Expiration New York CutAUDUSD .7190 (1.1bln)Overnight News of NoteFed Chair Warns Of Even Higher Rates If Jobs Data Stays StrongDollar Pulls Back As Powell Sticks To Usual Fed PlaybookShares Of Nintendo, Softbank Tumble After EarningsOil Climbs 3rd Day On Subdued Dollar, U.S. Crude Stocks' DropGold Gains As U.S. Dollar Eases Off One-Month PeakJapan Current Account Surplus Shrinks As Weak Yen, Trade Deficits BiteJapan To Hold 3-Way Wage Talks With Business, Labour Groups - NHKFitch Ratings: China 2023 Growth Forecast Revised Up To 5%China’s Open Borders Will Lift Australian GDP, ANZ Bank SaysJapanese Sell Record Amount Of Foreign Bonds As Hedge Costs RiseSocGen's Q4 Profit Beats Expectations, Sees Higher Bad Loan Risks(Sourced from Bloomberg, Reuters and other reliable financial news outlets)Technical & Trade ViewsSP500 Bias: Intraday Bullish Above Bearish Below 4120Primary support is 3990Primary objective is 4384Below 4080 opens 402020 Day VWAP bullish, 5 Day VWAP bearishEURUSD Bias: Intraday Bullish Above Bearish below 1.0610Primary support  is 1.0610Primary objective is 1.11Below 1.0585 opens 1.050020 Day VWAP bearish, 5 Day VWAP bearishGBPUSD Bias: Intraday Bullish Above Bearish below 1.21Primary support  is 1.21Primary objective 1.1840Above 1.2165 opens 1.226020 Day VWAP bearish, 5 Day VWAP bearishUSDJPY Bias: Intraday Bullish above Bearish Below 131Primary support  is 130Primary objective is 134.70Below 130.80 opens 130.1120 Day VWAP bullish, 5 Day VWAP bullishAUDUSD Bias: Intraday Bullish Above Bearish below .7050Primary resistance is .7050Primary objective is .6750Above .7150 opens .725020 Day VWAP bearish, 5 Day bearish VWAPBTCUSD Intraday Bias: Bullish Above Bearish below 23200Primary support 22200Primary objective is 25000Below 21000 opens 2030020 Day VWAP bullish, 5 Day VWAP bullish

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-february-8-2023"
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NIESR: The UK is likely to avoid a recession, but persistent inflation will damage household budgets

The National Institute of Economic and Social Research (NIESR) says a UK recession is unlikely in 2023, but calls for more help for households in the March Budget

from Moneyweek RSS Feed https://moneyweek.com/economy/uk-economy/605687/uk-recession-unlikely-says-niesr
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NIESR: The UK is likely to avoid a recession, but persistent inflation will damage household budgets

The National Institute of Economic and Social Research (NIESR) says a UK recession is unlikely in 2023, but calls for more help for households in the March Budget

from Moneyweek RSS Feed https://moneyweek.com/UK-recession-unlikely-says-niesr
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CHFJPY Potential for Bullish Rise towards overlap 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.TitleCHFJPY Potential for Bullish Rise towards overlap resistanceTypeBullish BreakoutPreference:Looking at the H4 chart, my overall bias for CHFJPY is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.If price breaks this level, we can likely see price pivot towards the overlap resistance. The support is where the overlap support is.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/chfjpy-potential-for-bullish-rise-towards-overlap-resistance"
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Is it a good time to buy an annuity as rates hit a 14-year high?

Average annual annuity income has risen by almost £700 over the past 12 months. We look at whether now is a good time to buy an annuity

from Moneyweek RSS Feed https://moneyweek.com/personal-finance/pensions/605406/buy-an-annuity
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Daily Technical Trade Set Ups for Cardano, Bitcoin & Litecoin

Daily Technical Trade Set Ups for Cardano, Bitcoin & LitecoinTo access today's actionable analysis, click here!

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-technical-trade-set-ups-for-cardano-bitcoin-and-litecoin"
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Halifax: UK house prices tread water as mortgage costs rise

Halifax’s latest house price index shows the average house price has remained largely unchanged from December.

from Moneyweek RSS Feed https://moneyweek.com/investments/property/house-prices/605681/halifax-uk-house-prices-tread-water-as-mortgage-costs-rise
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Market Spotlight: BP Outlines Strategy Shift Following Record profits

Record Profits Shares in oil giant BP are trading higher across the European morning today on the back of a stellar set of earnings. The group posted Q4 EPS of $21.95, just a touch under the $22.90 the market was looking for. However, revenues were seen higher than forecasts at $5.75 trillion vs $4.59 trillion expected. On the year as whole, BP posted record profits of $27.65 billion, its highest returns in 14 years. As a result of these gains BP announced a 10& increase in the dividend along with a $2.75 billion share buyback.Increased Taxation Record profits from energy companies have drawn plenty of criticism given the cost-of-living crisis in the UK. Last year, the government announced a new windfall profits tax on energy firms making excess profits from the spike in energy prices seen in response to the Russian invasion of Ukraine. BP noted that it will pay around $2.2 billion in UK tax with around a third of that satisfying the government’s new energy tax.Green Strategy in QuestionThe spike in profits appears to have impacted the group’s outlook and strategy. Looking ahead, BP noted that it will not be looking to reduce fossil fuel output by 2030 by as much as expected. BP had been among the first energy giants to announce a shift towards greener energy, outlining plans to cut emission by 50% by 2050. However, it now said it will target a 20-30% reduction, citing the need to keep up with global demand for fossil fuels.Technical ViewsBPFor now, BP shares continue to hold in range between the 456.80 level support and the 504.45 resistance, underpinned by the local rising trend line. In line with the broader bull trend, the focus is on a n eventual break higher while price holds above the support level. However, bearish divergence on momentum studies is worth keeping an eye on. Any downside break of 456.80 opens the way fo r a test of 421.05 next.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-bp-outlines-strategy-shift-following-record-profits"
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Daily Market Outlook, February 7, 2023

Daily Market Outlook, February 7, 2023Powell’s Speech The Highlight of The Day, First Post Payrolls Remarks“Asian equities traded with mixed tone overnight following on from a very quiet session on Wall Street, as investors were reluctant to extend risk ahead of a speech by Fed Chair Powell, who addresses the Economic Club of Washington later today, investors will parse Powell’s comments for his read on the red hot jobs data in the US Friday, these come in light of lasts weeks post rate announcement press conference when markets believed the Fed Chair gave the first clear acknowledgement of the start of the disinflationary process in play, however, the employment data on Friday has pushed market pricing in favour of further rate hikes given the continued tightness in the US labour market.  Overnight the Australian central bank raised rate again and confirmed they expected further hikes to follow given the re-emergence of inflationary pressure in the economy, this move comes as markets were starting to reprice lower rates down under before inflation data came in hotter than expected, leading investors to consider inflationary pressures returning on a global scale, Fed’s Bostic’s remarks overnight supported this view suggesting that employment data could lead to a higher terminal rate stateside European bourses are taking the soft handover from Asian markets with the EuroStoxx CAC and Dax trading lower, the stand out performer is the FTSE being supported by record earnings from BP this morning, who announced a £2.7Bln stock buyback programme. In the foreign exchange markets the unwind in Dollar weakness is attracting attention, with investors piling into Dollar call options and increasing bets on a return to EUR & GBP weakness, notably €500million trading on a nine month 0.9500 USD call structure ”FX Options Expiration New York CutEURUSD 1.0600 (726mln), 1.0845 (336mln)Overnight News of NoteAsian Share Markets Stabilised Somewhat On Tuesday Ahead Of PowellAussie Extends Gain After RBA Hikes Rates, Signals More To ComeRBA Raises Rates To 10-Year High, Says More Hikes AheadRBA: Path To Achieving A Soft Landing Remains A Narrow OneFed’s Bostic Says Higher Peak Rate on Table After Jobs BlowoutChina's Yuan Off One-Month Low On Signs Of De-Escalation In Sino-U.S. TensionsJapan's December Nominal Wages Rise 4.8%, Most Since 1997Australia Records Its Fifth Straight Year Of Trade Surpluses In 2022BoE Officials Say Brexit Fuelling Inflation, Driving Up RatesOil Extends Gain As Saudi Arabia Bets On Demand Rebound In AsiaNYSE Plans To Pay In Full 60% Of Claims Submitted After Glitch(Sourced from Bloomberg, Reuters and other reliable financial news outlets)Technical & Trade ViewsSP500 Bias: Intraday Bullish Above Bearish Below 4070Primary support is 3990Primary objective is 4384Below 4050 opens 402020 Day VWAP bullish, 5 Day VWAP bearishEURUSD Bias: Intraday Bullish Above Bearish below 1.0610Primary support  is 1.0610Primary objective is 1.11Below 1.0585 opens 1.050020 Day VWAP bearish, 5 Day VWAP bearishGBPUSD Bias: Intraday Bullish Above Bearish below 1.21Primary support  is 1.21Primary objective 1.1840Above 1.2165 opens 1.226020 Day VWAP bearish, 5 Day VWAP bearishUSDJPY Bias: Intraday Bullish above Bearish Below 131Primary support  is 131Primary objective is 134.70Below 130.80 opens 130.1120 Day VWAP bullish, 5 Day VWAP bullishAUDUSD Bias: Intraday Bullish Above Bearish below .7050Primary resistance is .7050Primary objective is .6750Above .7150 opens .725020 Day VWAP bearish, 5 Day bearish VWAPBTCUSD Intraday Bias: Bullish Above Bearish below 23200Primary support 22200Primary objective is 25000Below 21000 opens 2030020 Day VWAP bullish, 5 Day VWAP bullish

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-february-7-2023"
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