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- April 18, 2024
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Dollar Index Slammed Lower on Powell’s Comments
- April 3, 2024
Dollar Index Slammed Lower on Powell’s Comments Fed Chair Jerome Powell recently made the airwaves, delivering remarks on the economic outlook at Stanford Business School. Key Takeaways from the Speech: The Fed Chief does not envisage easing policy until there is more confidence regarding the inflation picture but still believes it will be ‘appropriate’ to
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EUR/USD Ahead of Euro Area Inflation Release
- April 2, 2024
ECB Dovish Stance Recently, the ECB adopted more of a dovish stance. ECB President Christine Lagarde noted that the eurozone’s economy is in a disinflationary process and added that inflation is ‘making good progress’. Lagarde added that they are confident but ‘not sufficiently confident’ and commented that additional data is needed; more will be known
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Index and Commodities Trading Week Beginning 01/04/2024
- March 31, 2024
XJO WEEKLY Price structure: Fake out top The underlying Primary trend remains UP, with current price action not indicating a meaningful reversal pattern until a close below 7632 takes place. Last week again set a fake out high (FO) where price has moved over a previous reversal high of 3 weeks prior. A weekly closing
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EUR/CHF Leaning in Favour of Bulls
- March 26, 2024
Year-to-Date (YTD) Outperformance Weekly timeframe – The technical landscape of longer-term flow on the EUR/CHF paints an interesting picture at the moment, poised to end the week higher for an eighth successive weekly session. Interestingly, the currency pair is up +5.4% (YTD), following the record low printed in late 2023 at CHF0.9254. You will also
READ MOREIndex and Commodities Trading Week Beginning 25/03/2024
- March 24, 2024
XJO WEEKLY Price structure: Breakout retest Without follow-through lower than the previous week’s retest of the 7632 level, the price action last week remained neutral until the recent high of 3 weeks ago was taken out with a close over 7853 points. The underlying Primary trend remains UP, with current price action not indicating a reversal
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XAU/USD: $2,147 Support in a Vulnerable Position
- March 23, 2024
Following another all-time high for the yellow metal last week at $2,223, the tail end of the week witnessed a moderate correction. There’s no denying that the yellow metal is exhibiting an uptrend and has been since pencilling in a bottom around the $1,614 area in late 2022. Knowing we have a clear uptrend in
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Macro/Technical Picture Suggests Shorting Rallies in GBP/USD
- March 23, 2024
Dovish Shift It was another disappointing week for the pound, pencilling in its worst-performing week of the year (-1.1%). March is poised to end the month considerably off best levels, fuelled by the recent shift in MPC votes with the Bank of England (BoE) now edging ever closer towards easing policy (this was a surprise
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Quiet Week Ahead in the Markets
- March 23, 2024
Compared to last week’s bumper slate of event risk, this week will be considerably more subdued, influenced not only by limited global asset drivers but also by liquidity thinning ahead of the long Easter weekend. Core PCE Data The headline event for the week will be the US Core PCE data (the Fed’s preferred measure
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Oil Bears to Make a Show?
- March 23, 2024
Last week, the price of WTI oil settled considerably off its best levels, consequently delivering a Japanese shooting star candlestick formation on the weekly chart (bearish). Despite bottoming in late 2023 and printing a series of higher highs and higher lows on the daily timeframe, daily technical resistance also made a show last week. The
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BTC/USD Update: Correction Territory
- March 23, 2024
A Correction Was Inevitable at Some Point Against the US dollar (USD), the price of Bitcoin (BTC) has been on a tear in recent weeks, refreshing all-time highs of $73,845. The recent correction, however, has some traders questioning how low the market can drop. Based on the current uptrend, in place since bottoming at $15,581
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BoE Holds the Line; Vote Split Change Triggers Dovish Reaction
- March 21, 2024
8-1 Vote in Favour of Bank Rate Hold Following the Fed holding its Fed funds target rate at 5.25%-5.50%, and the Swiss National Bank (SNB) surprising markets this morning and cutting its overnight Policy Rate by 25bps, the Bank of England (BoE) followed the Fed and left the Bank Rate on hold at 5.25% (a
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The Pattern Pulse—21 March 2024
- March 21, 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 Support Daily Timeframe – Following yesterday’s FOMC event—rates were left unchanged at 5.25%-5.50%, and the Fed’s dot plot showed officials still project three rate cuts this
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