• EUR/CHF Leaning in Favour of Bulls

    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 MORE
  • Index and Commodities Trading Week Beginning 25/03/2024

    Index 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

    READ MORE
  • XAU/USD: $2,147 Support in a Vulnerable Position

    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

    READ MORE
  • Macro/Technical Picture Suggests Shorting Rallies in GBP/USD

    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

    READ MORE
  • Quiet Week Ahead in the Markets

    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

    READ MORE
  • Oil Bears to Make a Show?

    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

    READ MORE
  • BTC/USD Update: Correction Territory

    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

    READ MORE
  • BoE Holds the Line; Vote Split Change Triggers Dovish Reaction

    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

    READ MORE
  • The Pattern Pulse—21 March 2024

    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

    READ MORE
  • FOMC: 3 Rate Cuts Still on the Table for 2024

    FOMC: 3 Rate Cuts Still on the Table for 2024

    • March 21, 2024

    It was all about the FOMC yesterday. In a unanimous decision, the Fed held the benchmark lending rate at 5.25%-5.50% for a fifth consecutive meeting (this is the highest rate in more than two decades), as widely expected. The majority of Fed officials also still favour three rate cuts this year, which was moderately dovish

    READ MORE
  • FOMC to Hold the Line; Eyes on the Guidance/Dots

    FOMC to Hold the Line; Eyes on the Guidance/Dots

    • March 20, 2024

    Following the Reserve Bank of Australia (RBA) standing pat on rates and the Bank of Japan (BoJ) raising its Policy Rate by 10bps, consequently putting a cap on NIRP, as well as ending YCC, the focus shifts to today’s FOMC rate decision at 6:00 pm GMT. Fed Funds Rate to Remain at 5.25%-5.50% It is

    READ MORE
  • UK CPI Inflation Mixed

    UK CPI Inflation Mixed

    • March 20, 2024

    Earlier this morning, UK inflation numbers hit the wires. The Consumer Prices Index including owner occupiers’ housing costs (CPIH), which is essentially an extension to the Consumer Prices Index (CPI), slowed to 3.8% in the twelve months to February, down from January’s reading of 4.2%. The CPI year-on-year rate saw consumer prices cool to 3.4%

    READ MORE