Week ahead: Tariffs and US Data in the spotlight
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- April 27, 2025
February has not been kind to Tesla (ticker: TSLA), settling the month down 28% and stirring levels not seen since November 2024. I will keep the following analysis simple and concise. Despite the eye-watering drop in February, a daily support area entered the fray on Friday between US$264.82 and US$272.25, made up of the following
READ MORESeveral themes are at play right now, which contributed to a selloff across risk assets last week. Influenced by political shenanigans (tariffs) and the Bybit exchange breach, this sent Bitcoin (BTC) 17.5% lower versus the US dollar (USD) by the close of trading on Friday. Monthly Chart: Room to Explore Deeper Waters There is not
READ MOREBuyers and Sellers Squaring Off Between Monthly Support and Resistance Monthly resistance from 109.33 was a technical headwind I monitored on the US Dollar Index for a while, and so far, it has not disappointed me. The said resistance welcomed moderate selling in February, and although the combination of the 107.35 high (October 2023) and
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/NZD Whipsaw Brewing? Daily Timeframe: The AUD/NZD cross (Australian dollar versus the New Zealand dollar) recently faded long-term daily resistance from NZ$1.1175 and probed below daily support at NZ$1.1088 (now marked resistance). The area I highlighted in
READ MOREUSD Bulls on the Ropes The US dollar (USD) – per the US Dollar Index – is on track to end February on the ropes following January’s monthly indecision candle at the resistance of 109.33. I believe USD bears have space to drive towards a ‘local’ descending support around 105.40ish, extended from the high of
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: US Dollar Index Exploring Lower Levels Daily Timeframe: This week has witnessed price action regain some control from a 100% projection ratio at 106.65 (equal AB=CD support), though upside has been hampered by resistance from 107.05. Should
READ MOREWhile the UK is evading US tariffs for now, its economy continues to face a somewhat undecided future, with taxes on business set to increase in April and a lingering drag from the elevated interest rates. However, this week’s focus shifts to a rather busy slate of economic data in the UK. Regarding tier-1 metrics,
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD Ready to Whipsaw Above Resistance? Daily Timeframe: Following a bottom of US$1.0178 (onA 13 January) and a subsequent higher low of US$1.0211, resistance at US$1.0610-US$1.0597 calls for attention. However, given the neighbouring resistance further north at
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Potential Diamond Bottom Pattern on AUD/USD Daily Timeframe: Following a 12% plunge since topping out at US$0.6942 at the beginning of October 2024 – with pullbacks few and far between – the AUD/USD (Australian dollar versus the
READ MOREUS Dollar Index Still Going Strong The US Dollar (USD) Index recently presented strong technical confluence supporting a USD rebound, which aligns with the underlying macro narrative. Earlier last week, you may recall, I underscored the possibility of a USD bid on the following observations: Local monthly support at 105.91-107.39, the 50-month (101.11) and 200-month
READ MOREThe ECB (European Central Bank) continued policy normalisation today, with another 25 basis points (bps) worth of cuts across all three benchmark rates. This marks the fourth consecutive rate reduction, bringing the Deposit Facility Rate, the Refinancing Rate, and the Marginal Lending Facility Rate to 2.75%, 2.90%, and 3.15%, respectively. Frankly, I was not expecting
READ MOREThe first meeting of the year observed the US Federal Reserve (Fed) put the brakes on policy for the first time since July 2024. In a unanimous vote, the central bank kept the target rate at 4.25-4.50%, which triggered a moderate bid in the US Dollar Index and US Treasury yields, with a dip witnessed
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