• Bearish Engulfing Candles Ahead of Powell’s Speech

    Bearish Engulfing Candles Ahead of Powell’s Speech

    • August 23, 2024

    All eyes are on US Federal Reserve Chairman Jerome Powell’s speech today at 10 am ET (2 pm GMT). Powell’s speech comes at an important time for the US economy – with unemployment at levels not seen since late 2021 – and the Fed nearing a rate reduction after being on hold at 5.25%-5.50% for

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  • Ichimoku Watch: Salesforce Poised to Breakout Higher?

    Ichimoku Watch: Salesforce Poised to Breakout Higher?

    • August 23, 2024

    Upcoming Earnings Salesforce, Inc. (ticker: CRM) is scheduled to report earnings after the market closes on 28 August. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $1.73. The reported EPS for the same quarter a year prior was $1.63. Vulnerable Resistance? Resistance is currently being tested at US$263.42

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  • AUD/USD Gearing Up for Another Run Higher?

    AUD/USD Gearing Up for Another Run Higher?

    • August 22, 2024

    Pattern Breakout to the Upside Kicking things off with a look at the monthly chart, which shows that the Australian dollar (AUD) has been on the front foot versus the US dollar (USD) in August, up +2.6% month to date. Since late 2022, the AUD/USD pairing has carved out a symmetrical triangle between US$0.6170 and

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  • Ichimoku Watch: Further Outperformance for Nvidia?

    Ichimoku Watch: Further Outperformance for Nvidia?

    • August 22, 2024

    Upcoming Earnings NVIDIA Corporation (ticker: NVDA) is scheduled to report earnings after the market closes on 28 August. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $0.59. The reported EPS for the same quarter a year prior was $0.25. +10% Gains in August Nvidia has been on a

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  • The Pattern Pulse – 22 August 2024

    The Pattern Pulse – 22 August 2024

    • August 22, 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 Breakout Higher? The euro (EUR) continues to gain versus the US dollar (USD), with the EUR/USD currency pair attempting to elbow its way north of the 50-month simple

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  • Federal Open Market Committee (FOMC) Meeting Minutes Summary

    Federal Open Market Committee (FOMC) Meeting Minutes Summary

    • August 21, 2024

    The July Federal Open Market Committee (FOMC) meeting minutes were recently released and was viewed as dovish. Fed officials supported leaving the Fed funds target range at 5.25%-5.50% at the July meeting. Most Fed members noted that if data continued to come in as expected, it would be appropriate to begin easing policy at the

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  • XAU/USD: Correction to Support?

    XAU/USD: Correction to Support?

    • August 21, 2024

    Upside Momentum Slowing on the Monthly Chart Despite the yellow metal working with a clear uptrend and shaking hands with fresh record highs, momentum to the upside has noticeably decelerated. This can be observed through price action and the Relative Strength Index (RSI) on the monthly scale, which tests overbought conditions and exhibits the possibility

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  • Jackson Hole Preview: Fed Chair Powell in the Spotlight

    Jackson Hole Preview: Fed Chair Powell in the Spotlight

    • August 21, 2024

    Tomorrow marks the opening of a three-day annual event in Jackson Hole, Wyoming, a gathering of key central bankers that the world and financial markets will monitor closely. This year’s event is titled: ‘Reassessing the Effectiveness and Transmission of Monetary Policy’. Ahead of this week’s annual meeting, Minneapolis Fed President Neel Kashkari made the airwaves,

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  • Ichimoku Watch: Gold Shining Bright!

    Ichimoku Watch: Gold Shining Bright!

    • August 21, 2024

    The uptrend in spot gold (ticker: XAU/USD) remains intact after the yellow metal refreshed record highs yesterday at US$2,531. Given the recent all-time high shaped by a half-hearted bearish shooting star Japanese candlestick pattern, this suggests price could be gearing up for a correction and a possible dip-buying opportunity. Ichimoku Indicator: Broad Bullish Signals The

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  • Resistance Across the Board for EUR/USD

    Resistance Across the Board for EUR/USD

    • August 20, 2024

    Active 50-Month SMA Europe’s single currency (EUR) has been on a tear versus the US dollar (USD), up +2.7% month to date. The monthly chart shows buyers and sellers are now squaring off around the 50-month simple moving average (SMA) at US$1.1110, which, alongside neighbouring resistance at US$1.1233, could prove a difficult headwind for bulls

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  • Canadian Inflation Slows to 40-Month Low; BoC Rate Cut in September?

    Canadian Inflation Slows to 40-Month Low; BoC Rate Cut in September?

    • August 20, 2024

    As expected, the July Consumer Price Index (CPI) report revealed that price pressures eased to +2.5% (YoY) on the headline level, down from June’s reading of +2.7%. This marked the slowest pace since early 2021 and hit a 40-month low. According to Statistics Canada, downward drivers in the headline YoY print were ‘digital computing equipment

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  • Ichimoku Watch: Baidu Approaching Ichimoku Cloud Resistance

    Ichimoku Watch: Baidu Approaching Ichimoku Cloud Resistance

    • August 20, 2024

    Upcoming Earnings: Baidu, Inc. (ticker: BIDU) is scheduled to report earnings before the market opens on 22 August. The consensus Earnings Per Share (EPS) estimate for the fiscal quarter ending June 2024 is US$2.24. The reported EPS for the same quarter a year prior was US$2.51. Sell On-Rally Scenario at Ichimoku Cloud Resistance? Even with

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