September 2nd 2020: Upbeat ISM Manufacturing Survey Supports Modest DXY Recovery
- Daily Report, Recent Posts, Technical Analysis
- September 1, 2020
Chart Pattern Structure Indicates Additional Underperformance for the Stock Chart pattern enthusiasts will acknowledge two key patterns in play on Tesla’s daily chart at the moment. Longer-term, we have what is referred to as a falling wedge pattern unfolding, taken from $205.28 and $175.01; these are generally considered reversal structures that demonstrate slowing momentum to
READ MOREYour weekly outlook of technical patterns and structure. The FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: USD/JPY Eyeing 1990 Highs Monthly Timeframe – The USD/JPY currency pair recently refreshed multi-decade highs of ¥154.79, a move probing offers at channel resistance, taken from the high of
READ MOREWe have an interesting technical picture unfolding on the NZD/USD at the moment. From the daily timeframe, it is evident that the currency pair has been underwater for the majority of this year. In fact, year to date, we are lower by -6.6%. Further Selling? Favouring bears at this point is the downtrend shaped by
READ MORETechnical Picture Favours Bears Week to date, against the US dollar (USD), the price of bitcoin (BTC) is down more than -7.0% and touching gloves with levels not seen since mid-March. Technically, the longer-term picture exhibits overbought/overvalued conditions. Following the all-time high clocked in early March at $73,845, commitment from buyers has been lacklustre and
READ MOREYY Headline: 3.2% (Est: 3.1%; Prev: 3.4%) MM Headline: 0.6% (Est: 0.4%; Prev: 0.6%) YY Core: 4.2% (Est: 4.1%; Prev: 4.5%) MM Core: 0.6% (Est: 0.5%; Prev: 0.6%) The March UK CPI numbers hit the wires earlier this morning, revealing a slower-than-expected pace of disinflation across all four key metrics. While all four reports
READ MOREFollowing today’s mixed bag of employment and wages data, tomorrow’s attention is directed to the March UK CPI inflation release, scheduled to air at 7:00 am GMT+1. Estimates Suggest Further Disinflation Both headline and core (excludes food, energy, tobacco and alcohol) measures have surprised to the downside in the previous two releases and are expected
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