The Pattern Pulse – 15 August 2024
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- August 15, 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: AUD/USD Breakout Higher? Overnight, the AUD/USD (Australian dollar versus the US dollar) rallied higher and has seen the pairing maintain its position at the underside of a monthly symmetrical
READ MOREYour 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/JPY – a Reversal or Pullback? Daily Timeframe – Ending July down nearly -7.0% and August down -2.8% month to date, the USD/JPY (US dollar versus the Japanese yen)
READ MOREYour 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/JPY in Freefall Daily Timeframe – Following the break of support at ¥157.81, the 50-day Simple Moving Average (SMA) at ¥157.91 and trendline support, taken from the low of
READ MOREYour 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: Descending Triangle for the Dollar Index? Following yesterday’s one-sided move lower in the US dollar (USD), which breached daily support at 104.09 (now a marked resistance level), the H1
READ MOREYour 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 Weakness Ahead? Daily Timeframe – With the US Federal Reserve edging closer to reducing the target for the Fed funds rate, the US dollar (USD), according to the
READ MOREYour 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: Onwards and Upwards for AUD/USD The AUD/USD currency pair is interesting at the moment. From the monthly chart, a recent upside move in the currency pair has seen price
READ MOREYour 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/GBP Struggling to Find Grip at Support Daily Timeframe – The EUR/GBP cross recently shook hands with support made up of Fibonacci ratios between £0.8408 and £0.8434 (consisting of
READ MOREYour 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 Eyeing Possible Whipsaw Following yesterday’s FOMC-induced advance from daily support between $1.0726 and $1.0739, chart studies on the daily timeframe demonstrate the scope to navigate higher terrain until
READ MOREYour 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: Completed Bearish Pennant Pattern on the US Dollar Index Daily Timeframe – The US Dollar Index recently completed a bearish pennant formation, a pattern derived from 104.08 and 105.11.
READ MOREYour 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: AUD/USD Bears In Control While the AUD/USD shows signs of trending higher on the daily chart – a series of higher highs and higher lows have been seen since
READ MOREYour 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 Possible Trendline Support Daily Timeframe – Since pencilling in a bottom at $1.0601 in April of this year, Europe’s single currency has rallied against the
READ MOREYour 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: Short-Term Resistance Calling for Attention on USD/JPY H1 Timeframe – Since topping at ¥156.77 on 14 May, short-term price action on the H1 chart for the USD/JPY has exhibited
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