• Ichimoku Watch: GBP/JPY Closing in on Ichimoku Cloud

    Ichimoku Watch: GBP/JPY Closing in on Ichimoku Cloud

    • September 3, 2024

    We have a simple chart of the GBP/JPY to work with today on the H4 timeframe, exhibiting an uptrend since bottoming out at ¥180.09 in early August 2024. As you can see, price action has recently formed a short-term correction within the current uptrend, which could find support at the Ichimoku Cloud, composed of the

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  • Week Ahead: US Labour Data and the BoC Rate Announcement in Focus

    Week Ahead: US Labour Data and the BoC Rate Announcement in Focus

    • August 31, 2024

    Highlights: US Employment Situation Report Bank of Canada (BoC) Rate Announcement US Jobs Data With US Federal Reserve (Fed) Chair Jerome Powell’s recent speech at the Jackson Hole Symposium confirming that it is time to begin easing policy as well as underlining the importance of the jobs market, this week’s jobs data may help determine

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  • EUR/USD Ahead of PCE Price Index Numbers

    EUR/USD Ahead of PCE Price Index Numbers

    • August 30, 2024

    Europe’s single currency is poised to end the week on the back foot versus its US counterpart and snap a two-week bullish phase. As of writing, the currency pair is down by -0.9%. 50-Month SMA Resistance Starting from the monthly chart, the 50-month simple moving average (SMA) at US$1.1109 currently offers dynamic resistance, a line

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  • US Economic Activity Grew More than Expected

    US Economic Activity Grew More than Expected

    • August 29, 2024

    According to the preliminary second estimate from the Bureau of Economic Analysis, real US Gross Domestic Product (GDP) increased at an annualised rate of +3.0% in Q2 24, marking an advance from the first estimate of +2.8% and the annual rate of +1.4% in Q1 24. The release immediately sent US Treasury yields and the

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  • The Pattern Pulse – 29 August 2024

    The Pattern Pulse – 29 August 2024

    • August 29, 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: Dollar Index Targeting 2023 Lows With the US Federal Reserve Chairman Jerome Powell communicating it is time to begin policy easing, the US Dollar Index is on track to

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  • AUD/NZD Cross to Venture into Deeper Waters?

    AUD/NZD Cross to Venture into Deeper Waters?

    • August 28, 2024

    The Research Team briefly touched on the AUD/NZD in an earlier release, but given the underperformance in the cross today, it deserves another look. Daily Support Giving Way The pair continues to echo a bearish vibe following Australia’s July CPI inflation (Consumer Price Index) report, which displayed price pressures had eased across all key measures.

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  • Ichimoku Watch: Upside Breakout for Nike

    Ichimoku Watch: Upside Breakout for Nike

    • August 28, 2024

    Ichimoku Cloud and Resistance Breach As you can see, Nike, Inc. (NYSE; ticker: NKE) has broadly exhibited a downward bias since the beginning of 2022. The tide may be shifting, however. The stock recently made its way north of the Ichimoku Cloud, composed of the Leading Span B (light orange at US$84.40) and the Leading

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  • Promising Disinflation; Aussie Price Pressures Cool in July

    Promising Disinflation; Aussie Price Pressures Cool in July

    • August 28, 2024

    Australia’s CPI inflation data (Consumer Price Index) rose +3.5% (YoY) in July 2024, slightly below the market’s median consensus (+3.5%), though down from June’s reading of +3.8% and the lowest level seen since March this year. The disinflation trend has resumed its downward path following inflation clocking highs of +4.0% in May 2024 (YoY), its

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  • XAU/USD Eyeing Higher Levels

    XAU/USD Eyeing Higher Levels

    • August 27, 2024

    Following on from the latest ‘Technical Take’ for spot gold (XAU/USD), you will note that price did indeed run through short-term stops below the higher low at US$2,485 formed on 19 August on the H1 timeframe and tested the combination of support at US$2,477 and trendline support, taken from the low of US$2,381. Price has

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  • US Consumer Confidence Jumps to Six-Month High

    US Consumer Confidence Jumps to Six-Month High

    • August 27, 2024

    According to the US Conference Board, American consumers were more confident in August. Consumer confidence increased to 103.3, comfortably north of the market’s median estimate of 100.7 (per a Reuters survey) and July’s upwardly revised reading of 101.9. For those new to this report, the Consumer Confidence Index assesses current and future economic conditions. Topline

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  • Ichimoku Watch: DJIA Poised for a Correction

    Ichimoku Watch: DJIA Poised for a Correction

    • August 27, 2024

    The Dow Jones Industrial Average (DJIA) hit an all-time high of 41,420 on Monday and formed what many will note as a bearish pin bar or ‘shooting star’. This candlestick formation shows buying pressure failed to maintain its momentum and sold off into the close. Candlestick traders, therefore, may view this as a sign that

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  • Fed Chair Jerome Powell: ‘The Time Has Come for Policy to Adjust’

    Fed Chair Jerome Powell: ‘The Time Has Come for Policy to Adjust’

    • August 23, 2024

    US Federal Reserve Chairman Jerome Powell delivered his widely anticipated speech at the three-day annual event at Jackson Hole, Wyoming. Unsurprisingly, Powell struck a dovish tone and essentially gave the green light to interest rate cuts. This sent major US equity indices higher and weighed on US Treasury yields and the US Dollar Index, down

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