Index and Commodities Trading Week Beginning 13/01/2025
- Featured Posts, Recent Posts, Technical Analysis, Technical Report
- January 12, 2025
XJO WEEKLY Price structure: Retest higher As anticipation mounts about an interest rate cut in Australia and the coming US presidential inauguration, markets appear to be in a consolidation phase waiting for some further direction. The XJO Weekly chart shows a retest of the 8385-level taking place, resulting in two opposing hammer bars. This pattern,
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 Index Testing Major Resistance Monthly Timeframe: According to the US Dollar Index, the US dollar (USD) has started 2025 reasonably strongly, up 0.6%. Following a rebound just north
READ MOREThe EUR/USD currency pair (euro versus the US dollar) is on track to engulf early January (2025) lows from US$1.0224 and test levels not seen since 2022. Price has exhibited an unmistakable downtrend since September 2024, establishing a series of lower lows and lower highs. Interestingly, traders have noticeably shorted rallies and used the space
READ MOREFollowing an all-time high of US$0.4671 in early December 2024, Dogecoin (DOG) had printed a correction versus the US dollar (USD) and rebounded from the Ichimoku Cloud Support area. This support zone was formed following the Ichimoku’s Leading Span A (light green at US$0.3576) crossing above the Leading Span B (light orange at US$0.2965) in
READ MOREXJO WEEKLY Price structure: 2nd Inside range This Weekly XJO displays a 2nd Inside range, with a high close within the range, this current phase suggests that the market is currently in a state of equilibrium, with buyers and sellers in a stalemate. This pattern is often indicative of a period of indecision in the market.
READ MOREXJO WEEKLY Price structure: Holds support The Index has set an inside range as it holds support, indicating a potential consolidation phase before the next directional move. This inside range formation suggests that the market is currently indecisive, with neither buyers nor sellers taking strong control. Traders will be closely watching for a breakout from this
READ MOREXJO WEEKLY Price structure: Impulsive Bearish Candle With last week’s strong impulsive move testing the 8083-support level and the lower channel line and setting a Fake out low (FO). The Index may find further support at this level as a test of the Sellers to follow through as this final bar is an extended range
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 Index Refreshes Year-to-Date Peaks Monthly Timeframe: As expected, the US Federal Reserve (Fed) cut the funds rate by 25 basis points yesterday and echoed a strong hawkish bias
READ MOREXJO WEEKLY Price structure: Bearish Pivot The follow through from the Gravestone Candle discussed last week has set a Bearish pivot bar. Further declines could be expected as the Index consolidates below the 8385-point level. A continued decline in the Index has the potential to retest the 8083-support level. The broad Primary UP Trend remains
READ MOREThe AUD/JPY (Australian dollar versus the Japanese yen) has begun exhibiting bullish intent since printing a bottom at ¥95.52 earlier this month. However, while defined higher highs and higher lows are visible, a pennant pattern is forming. This demonstrates that although price action is establishing higher highs, upside momentum is slowing and technically suggests that
READ MORESince early October, sellers have largely taken control of the NZD/USD (New Zealand versus the US dollar) and sent price to lows not seen since late 2022, with limited pullbacks seen. Overall, the currency pair is down nearly 10% from October highs. Ichimoku Resistance Supporting Sell-On-Rally Setups What is technically important to recognise is that
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: Pennant Pattern Completion for the Dollar Index Daily Timeframe: Since October, the US Dollar Index has rallied nearly 6.0%, forming what many technical analysts will recognise as a Golden
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