• USD/JPY: AB=CD Support, Anyone?

    USD/JPY: AB=CD Support, Anyone?

    • November 29, 2023

    The FP Markets Research Team are watching the USD/JPY currency pair closely at the moment, mainly from the higher timeframes. The monthly timeframe has price action fading channel resistance taken from the high of ¥125.87, an ascending base joined by the Relative Strength Index (RSI) offering early negative divergence out of overbought space. Although the

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  • RBNZ Rate Decision; NZD Closing in on Resistance

    RBNZ Rate Decision; NZD Closing in on Resistance

    • November 28, 2023

    RBNZ Expected to Hold The Reserve Bank of New Zealand (RBNZ) is widely expected to keep its Official Cash Rate (OCR) on hold at 5.5% for the final policy meeting of 2023 tomorrow at 2:00 am GMT, a move that marks a fourth consecutive meeting on hold. As you can see from the image below,

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  • BTC/USD: Ascending Triangle in View

    BTC/USD: Ascending Triangle in View

    • November 26, 2023

    An obvious technical observation for many at the close this week is that upside momentum has noticeably slowed in recent weeks. This is evident through price action on the weekly and daily timeframes and the Relative Strength Index (RSI). The weekly chart’s RSI has tested overbought levels (highest since early 2021), while the daily chart’s

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  • XAU/USD (Gold): Close Above $2,000 Adds to Bullish Case

    XAU/USD (Gold): Close Above $2,000 Adds to Bullish Case

    • November 26, 2023

    Weekly Chart Eyeing October High (and Beyond?) The last couple of weeks have seen spot gold in $ terms (XAU/USD) regain some poise above support from $1,969 on the weekly chart after forming a low of around $1,931. The biggest challenge for gold bulls this week is the October high at $2,009, with a break

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  • S&P 500 Eyeing Higher Levels

    S&P 500 Eyeing Higher Levels

    • November 26, 2023

    S&P 500 Chalks up Fourth Weekly Gain Pencilling in a fourth consecutive week of upside, the S&P 500 added +1.0% last week and is on track to conclude the month by registering its largest one-month gain this year (+8.7%) and snap a three-month losing streak. This is a market that the Research Team continue to

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  • EUR/CHF Technical Outlook and Review

    EUR/CHF Technical Outlook and Review

    • November 26, 2023

    Broadening Pattern Visible on the Daily Timeframe Against the Swiss franc, Europe’s shared currency wrapped up another week unchanged despite ranging between a high of CHF0.9685 and CHF0.9615. Now, if you look at the daily timeframe for the EUR/CHF cross, resistance has been in play at CHF0.9675 since mid-November, a level not only boasting strong

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  • Dollar Index Echoing Bearish Tone Under 200-Day SMA

    Dollar Index Echoing Bearish Tone Under 200-Day SMA

    • November 26, 2023

    Down 0.4%, buyers largely took a backseat again last week, witnessing the US Dollar Index extend the prior week’s near-2.0% drop. Consequently, this has the index on the edge of recording its worst month of the year (MTD: -3.1%) and is on track to snap a three-month winning streak. Room For Further Selling The monthly

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  • The Pattern Pulse—23 November 2023

    The Pattern Pulse—23 November 2023

    • November 23, 2023

    Your weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Dollar Index Daily Timeframe – The US Dollar Index—a geometric-weighted average value of the USD against six major currencies—recently confronted its 200-day simple moving average (SMA) at 103.62. Buyers and sellers

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  • S&P 500 UP 9% On the Month; Technical Headwinds Brewing

    S&P 500 UP 9% On the Month; Technical Headwinds Brewing

    • November 22, 2023

    Resistance Ahead? Technically, this market has traded in line with its technical picture since shaking hands with support on the daily timeframe at 4,104 back in late October (set just north of a major monthly support level at 4,102, which was left unchallenged). However, despite the spirited advance this month (up nearly 9.0% and on

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  • Dollar South of 200-Day SMA Ahead of FOMC Minutes

    Dollar South of 200-Day SMA Ahead of FOMC Minutes

    • November 21, 2023

    With the FOMC minutes fast approaching—the release is scheduled for 7:00 pm GMT today—the Dollar Index recently ventured south of its 200-day simple moving average (SMA) at 103.62, a move that many technical analysts may view as an early bearish trend signal. US equity markets are unchanged as of writing, and the buck is trading

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  • RBA Minutes Eyed; AUD/USD Echoes Bullish Vibe

    RBA Minutes Eyed; AUD/USD Echoes Bullish Vibe

    • November 20, 2023

    Markets are poised for tomorrow’s release of the minutes (12:30 am GMT) from the Reserve Bank of Australia’s (RBA) rate decision on 7 November. Just ahead of the minutes, however, speeches from the RBA Governor Michelle Bullock (at the ASIC Annual Forum, Melbourne) and Carl Schwartz (at the Australian Securitisation Forum’s Conference, Sydney), Acting Head

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  • BTC/USD Offering Mixed Vibe This Week

    BTC/USD Offering Mixed Vibe This Week

    • November 18, 2023

    Down -1.2%, upside momentum stalled last week, as expected. For those who regularly read the week-ahead posts, you may recall the following analysis from last week’s piece on the weekly timeframe (italics): … Technical headwinds are seen on the weekly timeframe. This includes the channel resistance that recently made its way into the fight, extended

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