• Technical Market Outlook and Review—7 February

    Technical Market Outlook and Review—7 February

    • February 6, 2023

    Charts: TradingView EUR/USD It was a poor start to the week for the common currency, down 0.7% at the close of European trading on Monday. On the back of a buoyant dollar, and a technical bearish landscape, downside risks for the EUR/USD remain elevated. The weekly timeframe, as noted in my Weekly Market Insight, recently

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  • Market Insight for the Week Ending 10 February

    Market Insight for the Week Ending 10 February

    • February 4, 2023

    It was an exciting week for the financial markets. Marching into the month of February witnessed three major central banks increase their benchmark rates, in line with expectations: the Federal Open Market Committee (FOMC) increased the Fed Funds rate by 25 basis points, and the Bank of England (BoE) and the European Central Bank (ECB)

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  • Technical Market Outlook and Review Ahead of the NFP (3 February)

    Technical Market Outlook and Review Ahead of the NFP (3 February)

    • February 2, 2023

    Charts: TradingView EUR/USD Having recent price action puncture weekly Quasimodo support-turned resistance at $1.0888, as well as neighbouring prime resistance on the daily chart at $1.0954-1.0864, additional buying is on the table towards daily Quasimodo resistance at $1.1138 and weekly resistance coming in from $1.1174. Largely confirmed on the daily scale through the series of

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  • The Pattern Pulse—2 February

    The Pattern Pulse—2 February

    • February 2, 2023

    Your weekly review of technical patterns and structure. The research team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Dollar Index Rebounding from Channel Support Daily Timeframe – Since late September 2022, price action on the US Dollar Index has forged a series of lower lows and lower highs: a

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  • First Light News

    First Light News

    • February 1, 2023

    Good morning. The FP Markets research team produce First Light News around the European open, ensuring traders and investors have the news needed to begin their day. Overnight Highlights Major US equity indices concluded Tuesday on strong footing; the Dow Jones Industrial Average added 1.09%, the S&P 500 added 1.46% and the Nasdaq 100 climbed

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  • Technical Market Outlook and Review for 31 January

    Technical Market Outlook and Review for 31 January

    • January 30, 2023

    Charts: TradingView EUR/USD Ahead of what is considered a bumper week of events, Monday delivered a largely calm tone across the FX space. Limited tier-1 data and mild risk aversion witnessed a modest dollar bid unfold, consequently weighing on any upside in Europe’s shared currency. The technical framework, particularly the bigger picture, remains unchanged. As

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  • Bumper Macro Week Ahead—Market Insight for the Week Ending 3 February

    Bumper Macro Week Ahead—Market Insight for the Week Ending 3 February

    • January 28, 2023

    It is all about the central banks this week; the blockbuster week welcomes the US Federal Reserve (Fed), the European Central Bank (ECB) and the Bank of England (BoE), all of which are anticipated to increase rates. The Fed steals the spotlight on Wednesday with markets more or less pricing in a 25 basis-point hike,

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  • Technical Market Outlook and Review for 27 January

    Technical Market Outlook and Review for 27 January

    • January 26, 2023

    Charts: TradingView EUR/USD The US Dollar Index staged a spirited rebound on Thursday, shaping a daily bullish engulfing formation off daily Quasimodo support at 101.65 on the back of stronger-than-anticipated US growth data. Europe’s single currency consequently fell victim to the dollar upside, down 0.5% at the close of European trading. Where does this leave

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  • The Pattern Pulse—26 January

    The Pattern Pulse—26 January

    • January 26, 2023

    Your weekly review of technical patterns and structure. The research team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: USD/JPY Descending Channel Breach? Daily Timeframe – Since late November, the daily timeframe’s descending channel on the USD/JPY, drawn from ¥142.24 and ¥133.62, has been in play. Interestingly, we can see

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  • Technical Market Outlook and Review for 24 January

    Technical Market Outlook and Review for 24 January

    • January 23, 2023

    Charts: TradingView EUR/USD Early London on Monday observed price whipsaw above the $1.09 handle, reaching a peak of $1.0927 before erasing earlier gains and touching gloves with the upper edge of the H1 consolidation between $1.0780 and $1.0868 (active since 12 January). The run of orders above $1.09 is interesting, due to the location that

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  • Market Insight for The Final Full Week of January—Week Ending 27 January

    Market Insight for The Final Full Week of January—Week Ending 27 January

    • January 21, 2023

    Despite a slow start to the week, as US banks closed their doors in observance of Martin Luther King Jr. Day, there is much to consider. In the US, producer prices (PPI) eased in December to -0.5%, following November’s downwardly revised 0.2% figure. Retail sales also shows that US consumers tightened their purse strings in

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  • Technical Market Outlook and Review for 20 January

    Technical Market Outlook and Review for 20 January

    • January 19, 2023

    Charts: TradingView EUR/USD Thursday presented another sluggish trading day around Wednesday’s range lows. As aired in Thursday’s technical briefing, price action on the weekly scale touched gloves with the underside of major resistance from $1.0888: Quasimodo support-turned resistance. This, in a market still considered exhibiting a downside bias on the weekly timeframe, brands the aforementioned

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