The Pattern Pulse - 18 April 2024
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- April 18, 2024
Charts: TradingView It was a quiet session for the financial markets on Monday with price action range bound as US banks remained closed in observance of Martin Luther King Jr. Day. Given the lacklustre performance, here is a brief reminder of the technical position of the EUR/USD and the US Dollar Index. US Dollar Index
READ MOREIn his first public appearance of 2023, US Federal Reserve Chair Jerome Powell participated in a panel discussion (Central bank independence and the mandate – evolving views) on Tuesday and reiterated the central bank’s commitment to contain inflation. Powell added that ‘restoring price stability when inflation is high can require measures that are not popular
READ MOREYour weekly review of technical patterns and structure. The research team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Anyone for a Death Cross? Daily Timeframe – The US Dollar Index recently chalked up what’s referred to as a Death Cross in technical circles. The 50-day simple moving average (105.69
READ MOREYesterday witnessed US ADP non-farm employment change and initial jobless claims pencil in better-than-expected data. According to the ADP National Employment report, private US employment jumped by 235,000 jobs in December, building on November’s upwardly revised 182,000 print. In terms of the US initial jobless filings, for the week ending 31 December, initial unemployment claims
READ MOREReading time: 10 Minutes History Candlestick charts are claimed to have been created in the 18th century by Japanese rice trader Munehisa Homma. In 1991, Japanese Candle Charting Techniques, written by Steve Nison (Amazon.com), served as an introduction to the west. This book includes a wealth of information you can use as a resource for
READ MOREReading time: 7 minutes One of the main benefactors of a successful trading career is the favourable tax regulations shaped around the financial markets. Before opening a trading account though, traders need to be aware that rules, regulations and tax scenarios vary across borders and jurisdictions. Similarly, traders and retail investors need to know how
READ MOREReading time: 7 minutes Online scamming is nothing new. Crime is an unfortunate by-product of any industry, and unfortunately for online traders, the forex market is no different – perhaps made worse by the growth and ease of digital scams aimed at forex trading. MetaTrader 5, commonly known as the abbreviated MT5, is one of
READ MOREReading time: 7 minutes When markets take a downturn, when economic stability is met with uncertainty and when investors look for so-called ‘safe havens’ to protect their capital, it’s the metal’s market that tends to gain traction. Gold and silver are the dominant choices, due to their global popularity and the idea that precious metals
READ MORENew Exotic Currency Pairs are now available through the FP Markets’ MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. 2022 witnessed trading in the foreign exchange market record an eye-popping US$7.5 trillion per day, up from US$6.6 trillion three years earlier. In response, FP Markets – a global leader in the Forex and CFDs business
READ MOREFP Markets has redesigned its IB portal with business intelligence in mind, to help maximise transparency and ensure partnership success. The FP Markets IB program is one of the leading partners programs in the FX industry and is designed to remunerate and reward introducers and partners that refer clients to FP Markets. With the new
READ MORECharts: TradingView 1:30 pm GMT will see the latest US inflation data, the highlight macroeconomic point for the week. Current market consensus, on a month-over-month basis, calls for a 0.6% increase in the consumer prices index (CPI) and a 0.5% increase in the monthly core reading. The year-over-year CPI print for October is poised to
READ MOREThe first four days of November witnessed an energetic start, welcoming a series of rate increases as major central banks continue to wrestle with elevated inflation rates. European Central Bank The final week in October watched the European Central Bank (ECB) raise the Main Refinancing Rate by 75 basis points to 2.00%, its second successive
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