• GBP/USD Eyeing Lower Levels?

    GBP/USD Eyeing Lower Levels?

    • September 11, 2024

    Following economic activity in July stagnating for a second consecutive month, the focus was on the GBP/USD currency pair (British pound versus the US dollar). Monthly Resistance Technically, the trend remains to the upside for the pairing and recently reached a year-to-date high of US$1.3267. Longer-term price action on the monthly timeframe is struggling to

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  • USD/JPY: Ichimoku Resistance

    USD/JPY: Ichimoku Resistance

    • September 10, 2024

    The US dollar (USD) remains on the back foot versus the Japanese yen (JPY), poised to retest the August 2024 lows around ¥141.69. Active Conversion Line/Base Line Resistance While downside momentum has noticeably slowed for the USD/JPY currency pair, sellers are still in control. You will probably see that since the Conversion Line (blue at

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  • Index and Commodities Trading Week Beginning 09/09/2024

    Index and Commodities Trading Week Beginning 09/09/2024

    • September 8, 2024

    XJO WEEKLY Price structure: Outside range. The XJO Weekly chart has set an “outside period” with a long-range bar high to low. Using the Haguro method this type of bar (#9) with a lower wick exposed is identified as a turning point bar when found in a high price area following the August low point.

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  • Optimism Fading for BTC/USD?

    Optimism Fading for BTC/USD?

    • September 5, 2024

    Down -4.0% month to date, Bitcoin (BTC) versus the US dollar (USD) is extending last week’s -7.3% fall. Weekly Support The technical landscape reveals that although weekly support at US$56,796 prompted a bullish reaction in August, the major cryptocurrency failed to register any meaningful highs. Adding to this, the unit is also retesting the grip

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  • McDonalds to Breakout Higher?

    McDonalds to Breakout Higher?

    • September 5, 2024

    Bullish Flag in Play As you can see from the daily chart of McDonald’s (ticker: MCD), the stock is trading between two descending lines on lower volume, forming what many chart pattern enthusiasts refer to as a bullish flag (extended from US$292.21 and US$285.26). You will also note that price action is nearing the upper

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  • The Pattern Pulse – 5 September 2024

    The Pattern Pulse – 5 September 2024

    • September 5, 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: US Dollar Index on the Back Foot Following yesterday’s US JOLTs report revealing that job openings in July fell to their lowest levels since early 2021, the US Dollar

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  • US Job Openings Fall to Levels Not Seen since Early 2021

    US Job Openings Fall to Levels Not Seen since Early 2021

    • September 4, 2024

    According to a report released by the Bureau of Labor Statistics today, the Job Openings and Labor Turnover Survey (JOLTs) revealed a fall in job openings to 7.67 million from June’s downwardly revised print of 7.91 million. This marked a fresh low for the JOLTs number since topping out at 12.2 million in March 2022,

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  • Ichimoku Watch: DocuSign at Support

    Ichimoku Watch: DocuSign at Support

    • September 4, 2024

    Upcoming Earnings: DocuSign, Inc. (ticker: DOCU) is scheduled to report earnings after the market closes on 5 September. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $0.20. The reported EPS for the same quarter a year prior was $0.09. Dip Buying? In the short term, on the H4

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  • WTI Oil Ahead of BoC Rate Announcement

    WTI Oil Ahead of BoC Rate Announcement

    • September 4, 2024

    WTI oil is seen rebounding from support ahead of today’s update from the Bank of Canada. This support is made up of a Quasimodo support level coming in from US$68.85, a 100% projection ratio at US$69.51 (an equal AB=CD bullish formation), and a channel support line, extended from the low of US$72.46. While current support

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  • GBP/USD: Monthly and Daily Support Could Encourage Buyers North of H1 Channel Resistance

    GBP/USD: Monthly and Daily Support Could Encourage Buyers North of H1 Channel Resistance

    • September 3, 2024

    Looking at GBP/USD from a technical point of view, it is clear the pairing is higher in the long term, recently forging a fresh YTD high at US$1.3267. Monthly Chart: Scope for Further Buying Based on the monthly timeframe, the fresh high positioned price north of resistance coming in at US$1.3111, which could now deliver

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  • Ichimoku Watch: GBP/JPY Closing in on Ichimoku Cloud

    Ichimoku Watch: GBP/JPY Closing in on Ichimoku Cloud

    • September 3, 2024

    We have a simple chart of the GBP/JPY to work with today on the H4 timeframe, exhibiting an uptrend since bottoming out at ¥180.09 in early August 2024. As you can see, price action has recently formed a short-term correction within the current uptrend, which could find support at the Ichimoku Cloud, composed of the

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  • Index and Commodities Trading Week Beginning 02/09/2024

    Index and Commodities Trading Week Beginning 02/09/2024

    • September 1, 2024

    XJO WEEKLY Price structure: Closing all time high. The Weekly chart shows another small range low to high advance, the current close at a Weekly all-time high is an important observation as no broad profit taking has taken place indicating sentiment remains strong. Current observable price rejection (FO) still remains from above the 8083 level.

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