• Index and Commodities Trading Week Beginning 18/03/2024

    Index and Commodities Trading Week Beginning 18/03/2024

    • March 17, 2024

    XJO WEEKLY Price structure: Breakout retest The key reversal bar stands out as a retest of the 7632 breakout level. This is the key level for the buyers to hold this week. The underlying Primary trend remains UP. A further decline below the 7632 level puts the 7300 level as support to hold. Seasonally, in late

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  • Huge Week for the Markets!

    Huge Week for the Markets!

    • March 16, 2024

    At the centre of things this week are rate announcements from major central banks, including updates from the US Federal Reserve (the Fed), the Bank of England (BoE), the Bank of Japan (BoJ), the Swiss National Bank (SNB) and the Reserve Bank of Australia (RBA). We also welcome inflation numbers from Canada and the UK,

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  • The Pattern Pulse—14 March 2024

    The Pattern Pulse—14 March 2024

    • March 14, 2024

    Your weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD Buyers Resilient Monthly Timeframe – Price action on the monthly chart of the EUR/USD offers an interesting technical landscape to work with. You will acknowledge that support from $1.0519 has

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  • Monthly UK GDP Elbows into Positive Territory

    Monthly UK GDP Elbows into Positive Territory

    • March 13, 2024

    The latest data from the Office for National Statistics (ONS) revealed that the UK economy rebounded by 0.2% in January (in line with market forecasts), bolstered by robust growth in retail, wholesale and construction. This followed a month-over-month fall of 0.1% in December 2023 and two consecutive quarters of contraction in the second half of

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  • Hotter-Than-Expected US CPI; The Last Mile Will be Bumpy

    Hotter-Than-Expected US CPI; The Last Mile Will be Bumpy

    • March 12, 2024

    According to data from the US Bureau of Labor Statistics (BLS), the year-over-year change in US consumer prices accelerated for a second straight month in February. Elevated Inflation Nominal headline inflation rose 0.4% on a month-over-month basis for February, which fell in line with economists’ estimates and a touch higher than January’s 0.3% reading. Year-over-year

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  • XAU/USD: Support at $2,147 to Welcome Dip Buyers?

    XAU/USD: Support at $2,147 to Welcome Dip Buyers?

    • March 11, 2024

    Last week, we witnessed the price of spot gold (XAU/USD) refresh all-time highs (ATHs), comfortable north of the $2,000 mark at $2,195. Markets witnessed demand for the precious metal increase based on a number of factors, which has seen buyers lift prices higher for eight consecutive days. Last week also recorded its largest one-week gain

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  • Index and Commodities Trading Week Beginning 11/03/2024

    Index and Commodities Trading Week Beginning 11/03/2024

    • March 10, 2024

    XJO WEEKLY Price structure: Breakout New ATH targets 8000 points The Index has again closed at an all-time high and remains in a Primary UP trend. With the majority of the underlying stocks still below their 200-day moving averages, continued sentiment may lift the Index considerably higher, with 8000 points a strong target as Bullish sentiment improves.

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  • US CPI and UK Wage Growth Set to Take the Stage This Week

    US CPI and UK Wage Growth Set to Take the Stage This Week

    • March 9, 2024

    Where We Were Last Week Fed Chair Jerome Powell was in the limelight last week after his two-day testimony before Congress but failed to shed much light on the timing of rate cuts. The Fed chief, however, did reiterate the Fed’s intention to ‘begin dialling back policy restraint at some point this year’ and noted

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  • US Equity Indices: Indecisive End to the Week

    US Equity Indices: Indecisive End to the Week

    • March 9, 2024

    Upside Momentum Slowing While it was another all-time high (ATH) for the S&P 500 last week, reaching 5,189, upside momentum is beginning to slow and concluded the week tentatively. The Dow Jones Industrial Average also ended a second week in negative territory and the Nasdaq 100 and Nasdaq Composite finished off ATHs in the shape

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  • GBP/USD Bulls Favoured This Week

    GBP/USD Bulls Favoured This Week

    • March 9, 2024

    Ahead of this week’s wages/employment data, the technical position for the GBP/USD leans in favour of bulls. Monthly Resistance Cedes Ground Following two months of downside, GBP/USD bulls pencilled in a solid offensive last week (+1.6%), drawing the currency pair through resistance on the monthly timeframe at $1.2715. While one may argue that this market

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  • Dollar Index: Further Selling Likely if 102.92 Holds as Resistance

    Dollar Index: Further Selling Likely if 102.92 Holds as Resistance

    • March 9, 2024

    According to the US Dollar Index, the US dollar (USD) had a rather disappointing week, falling -1.1% against a basket of six major currencies. On the month, the buck is also -1.4% lower and, assuming a continued negative trajectory this month, is on track to snap a two-month bullish phase. The FP Markets Research Team

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  • BTC/USD: The Trend Is Your Friend

    BTC/USD: The Trend Is Your Friend

    • March 9, 2024

    It was another impressive week for the major cryptocurrency pairing BTC/USD, adding nearly +10.0% and carving out a second straight weekly gain to reach a fresh record high of $70,198. Traders Eye Dip-Buying Opportunities It is clear across all primary timeframes that the trend in this market is bullish, prompting traders and investors to seek

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