• Spot Gold Trading Within Ichimoku Cloud

    Spot Gold Trading Within Ichimoku Cloud

    • November 27, 2024

    Spot gold (XAU/USD) remains trading off record highs of US$2,790 and is on track to end November down around 3%. This also marks the precious metal’s first monthly loss since June. Strong Uptrend and Ichimoku Cloud Support Overall, the trend remains firmly to the upside for Gold and has largely been the case since March

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  • USD/JPY Testing Ichimoku Support

    USD/JPY Testing Ichimoku Support

    • November 25, 2024

    Since mid-September, the USD/JPY (US dollar versus the Japanese yen) has been rallying higher, with investors buying into shallow dips from the area between the Ichimoku’s Conversion Line (blue at ¥155.01) and the Base Line (red at ¥152.92). This is common in uptrends, with investors often positioning protective stop-loss orders just beneath the lower edge

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  • WTI Oil Indicating Further Buying

    WTI Oil Indicating Further Buying

    • November 22, 2024

    From the daily chart of WTI oil, price action recently moved above the Ichimoku’s Conversion and Base Lines (blue and red at US$68.65 and US$69.71, respectively), which for some traders will be considered a bullish signal. Double Bottom Pattern Adding to the above, you will see that price is forming a double-bottom pattern from around

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  • The Pattern Pulse – 21 November 2024

    The Pattern Pulse – 21 November 2024

    • November 21, 2024

    Your 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: EUR/USD Shaking Hands with Range Support Monthly Timeframe: Down 3.0% so far this month, the EUR/USD (euro versus the US dollar) is now shaking hands with key long-term range

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  • EUR/JPY Analysis Highlighting Technical Resistance

    EUR/JPY Analysis Highlighting Technical Resistance

    • November 20, 2024

    As you can see from the H4 chart of the euro (EUR) versus the Japanese yen (JPY), the EUR/JPY currency pair demonstrates more or less equal bids and offers at current levels. Price Testing the Ichimoku Cloud Resistance Sentiment has been on the downside since topping at ¥166.69 at the end of October. The latest

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  • Nvidia Q3 24 Earnings in Focus

    Nvidia Q3 24 Earnings in Focus

    • November 20, 2024

    Q3 24 earnings for Nvidia (Nasdaq; ticker: NVDA) – a leader in the artificial intelligence (AI) chip and data centre solutions market – and the company’s Q4 forward guidance will be released after the market closes today. Over the past two years, Nvidia’s performance has been nothing short of remarkable, resulting in substantial growth in

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  • UK CPI Inflation Increased by 2.3% in October

    UK CPI Inflation Increased by 2.3% in October

    • November 20, 2024

    A report released this morning by the Office for National Statistics (ONS) revealed that all key inflation measures exceeded expectations in October. As a result, the British pound (GBP) appreciated against all G10 currencies, with the strongest gains seen against the Japanese yen (JPY). Additionally, FTSE 100 futures experienced a moderate decline following the report,

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  • Canadian CPI Inflation Accelerates in October; Boc Still Likely to Cut Rates

    Canadian CPI Inflation Accelerates in October; Boc Still Likely to Cut Rates

    • November 19, 2024

    Policymakers ‘may’ think twice about reducing the overnight rate by another 50 basis points (bps) next month following inflation accelerating to the upside. I emphasise the word ‘may’ here. According to the October CPI inflation report (Consumer Price Index) released by Statistics Canada, headline YY (Year on Year) CPI inflation increased to 2.0%. This marked

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  • Nvidia Testing Key Ichimoku Support Ahead of Earnings

    Nvidia Testing Key Ichimoku Support Ahead of Earnings

    • November 19, 2024

    Upcoming Earnings The Nvidia Corporation (ticker: NVDA) is scheduled to report earnings after the market closes tomorrow. The consensus Earnings Per Share (EPS) estimate for the fiscal quarter ending October 2024 is US$0.70; the reported EPS for the same quarter a year prior was US$0.38. Trend Favouring Dip Buying Ahead of the company’s earnings report

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  • Week Ahead: What Are the Markets Watching This Week?

    Week Ahead: What Are the Markets Watching This Week?

    • November 17, 2024

    USD to Remain Bid? US Federal Reserve (Fed) Chairman Jerome Powell’s modestly hawkish commentary last week – ‘the economy is not sending any signals that we need to be in a hurry to lower rates’ – coupled with other Fed officials echoing a similar vibe as well as sticky inflation, prompted a dovish rate repricing.

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  • The Pattern Pulse – 14 November 2024

    The Pattern Pulse – 14 November 2024

    • November 14, 2024

    Your 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 Approaching Range Resistance Daily Timeframe: The US dollar (USD) remains well bid, with November’s current outperformance positioning the greenback 3.0% higher versus a basket of six international currencies

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  • US Dollar Index Venturing into Monthly Resistance

    US Dollar Index Venturing into Monthly Resistance

    • November 13, 2024

    Following the run higher in the US Dollar Index (USD) this month, price action has ventured into a key monthly resistance area between 107.39 and 105.91. Whether this is sufficient to hinder current outperformance in the USD is difficult to estimate at this juncture. However, from a technical analyst’s point of view, it is undeniable

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