• Ichimoku Watch: AUD/JPY Looking Beyond 2013 Peak

    Ichimoku Watch: AUD/JPY Looking Beyond 2013 Peak

    • June 21, 2024

    RBA: ‘Do Whatever it Takes’ Because of the RBA’s ‘do whatever it takes’ stance at the moment, and with Aussie CPI inflation poised to increase next week for the twelve months to May, AUD/JPY buyers are likely to remain in control for the time being. The currency pair recently worked its way above the 2013

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  • Ichimoku Watch: USD/CHF Punches Higher Following Rate Cut

    Ichimoku Watch: USD/CHF Punches Higher Following Rate Cut

    • June 20, 2024

    SNB Cuts Policy Rate; USD/CHF Retests Conversion Line Earlier this morning, the Swiss National Bank (SNB) cut its overnight policy rate by 25 basis points to 1.25%, as most economists expected. The central bank also left FX guidance pretty much unchanged. At the time of writing, the USD/CHF currency pair is up +0.7% in a

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  • The Pattern Pulse – 20 June 2024

    The Pattern Pulse – 20 June 2024

    • June 20, 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: EUR/GBP Struggling to Find Grip at Support Daily Timeframe – The EUR/GBP cross recently shook hands with support made up of Fibonacci ratios between £0.8408 and £0.8434 (consisting of

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  • Ichimoku Watch: Blackrock Testing the Mettle of Ichimoku Cloud Resistance

    Ichimoku Watch: Blackrock Testing the Mettle of Ichimoku Cloud Resistance

    • June 19, 2024

    Double-Bottom Pattern Neckline and Ichimoku Cloud Resistance Blackrock Inc. (ticker: BLK) recently established what many chartists would recognise as a double-bottom pattern from around $753.83. The neckline for the pattern is seen at $789.08, which has yet to be breached, so the pattern’s formation has not been completed. Once, or if, we see a daily

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  • Ichimoku Watch: Nasdaq 100 in View

    Ichimoku Watch: Nasdaq 100 in View

    • June 18, 2024

    Conversion Line/Base Line Support Eyed Since the Nasdaq 100 market index pencilled in a higher low of 18,192 on 31 May, the daily chart has printed nothing but record high after record high. With limited resistance overhead and the Ichimoku Indicator flashing bullish signals across the board, the widely watched index could be poised to

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  • RBA Leaves Cash Rate on Hold and Maintains Guidance; Remains Vigilant on Inflation

    RBA Leaves Cash Rate on Hold and Maintains Guidance; Remains Vigilant on Inflation

    • June 18, 2024

    As widely expected by markets and economists, the Reserve Bank of Australia (RBA) held the Official Cash Rate (OCR) at 4.35% (12-year high), marking the fifth consecutive meeting on hold. The central bank has also left the door ajar for a rate increase should price pressures continue to rise. Rate Statement Unchanged The accompanying rate

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  • Ichimoku Watch: Australian Dollar Approaching Kumo Support Ahead of RBA Decision

    Ichimoku Watch: Australian Dollar Approaching Kumo Support Ahead of RBA Decision

    • June 17, 2024

    Kumo Cloud Demanding Attention The AUD/USD currency pair (Australian dollar versus the US dollar) is on track to record its third day in the red ahead of an update from the Reserve Bank of Australia (RBA). Although tomorrow’s event risk is unlikely to move the market’s dial (limited change is expected), the technical picture shows

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  • Index and Commodities Trading Week Beginning 17/06/2024

    Index and Commodities Trading Week Beginning 17/06/2024

    • June 16, 2024

    XJO WEEKLY Price structure: Consolidation remains The Bullish “Pivot” setup discussed last week has failed to bring further buying to the market with a complete reversal seen in the price action last week. The Weekly price movement remains between resistance of the 7910 all-time high, and Support shown at 7632. No reversal of the Primary UP

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  • USD/JPY: Overbought or Just Taking a Breather?

    USD/JPY: Overbought or Just Taking a Breather?

    • June 15, 2024

    Following the Bank of Japan (BoJ) maintaining its overnight rate between 0.0% and 0.1% and announcing that a bond-taper plan will be delivered at next month’s policy-setting meeting, the Japanese yen (JPY) and yields traded southbound. Technical View Supports Buyers Technically, the USD/JPY is an interesting market. In the long term, the trend is unquestionably

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  • BTC/USD Appears Poised for Further Underperformance

    BTC/USD Appears Poised for Further Underperformance

    • June 15, 2024

    Weekly Price Action It was a disappointing week for the major crypto pairing, down -5.1%; BTC/USD chalked up a meaningful bearish engulfing candle formation on the weekly scale (engulfing candles focus on the real bodies and overlook the upper and lower shadows [those are outside reversal candles]) at the upper boundary of a potential long-term

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  • AUD/USD Bears to Push Towards 50-Day SMA?

    AUD/USD Bears to Push Towards 50-Day SMA?

    • June 15, 2024

    Ahead of this week’s RBA meeting, the Australian dollar exhibits a potential bearish scenario versus the US dollar, with the monthly and daily charts indicating further softness for the AUD/USD currency pair. 50-Day SMA Demands Attention Since September 2022, buyers and sellers have squared off between two converging lines on the monthly scale, a movement

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  • The Pattern Pulse – 13 June 2024

    The Pattern Pulse – 13 June 2024

    • June 13, 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: EUR/USD Eyeing Possible Whipsaw Following yesterday’s FOMC-induced advance from daily support between $1.0726 and $1.0739, chart studies on the daily timeframe demonstrate the scope to navigate higher terrain until

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