• Ichimoku Watch: Upside Breakout for Nike

    Ichimoku Watch: Upside Breakout for Nike

    • August 28, 2024

    Ichimoku Cloud and Resistance Breach As you can see, Nike, Inc. (NYSE; ticker: NKE) has broadly exhibited a downward bias since the beginning of 2022. The tide may be shifting, however. The stock recently made its way north of the Ichimoku Cloud, composed of the Leading Span B (light orange at US$84.40) and the Leading

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  • Promising Disinflation; Aussie Price Pressures Cool in July

    Promising Disinflation; Aussie Price Pressures Cool in July

    • August 28, 2024

    Australia’s CPI inflation data (Consumer Price Index) rose +3.5% (YoY) in July 2024, slightly below the market’s median consensus (+3.5%), though down from June’s reading of +3.8% and the lowest level seen since March this year. The disinflation trend has resumed its downward path following inflation clocking highs of +4.0% in May 2024 (YoY), its

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  • XAU/USD Eyeing Higher Levels

    XAU/USD Eyeing Higher Levels

    • August 27, 2024

    Following on from the latest ‘Technical Take’ for spot gold (XAU/USD), you will note that price did indeed run through short-term stops below the higher low at US$2,485 formed on 19 August on the H1 timeframe and tested the combination of support at US$2,477 and trendline support, taken from the low of US$2,381. Price has

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  • Ichimoku Watch: DJIA Poised for a Correction

    Ichimoku Watch: DJIA Poised for a Correction

    • August 27, 2024

    The Dow Jones Industrial Average (DJIA) hit an all-time high of 41,420 on Monday and formed what many will note as a bearish pin bar or ‘shooting star’. This candlestick formation shows buying pressure failed to maintain its momentum and sold off into the close. Candlestick traders, therefore, may view this as a sign that

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  • Index and Commodities Trading Week Beginning 26/08/2024

    Index and Commodities Trading Week Beginning 26/08/2024

    • August 25, 2024

    XJO WEEKLY Price structure: All time high on the close. The Weekly chart shows a small range low to high advance, the current close at an all-time high is an important observation as no broad profit taking has taken place. Current observable price rejection remains above the 8083 level. This week key support remains above the

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  • Bearish Engulfing Candles Ahead of Powell’s Speech

    Bearish Engulfing Candles Ahead of Powell’s Speech

    • August 23, 2024

    All eyes are on US Federal Reserve Chairman Jerome Powell’s speech today at 10 am ET (2 pm GMT). Powell’s speech comes at an important time for the US economy – with unemployment at levels not seen since late 2021 – and the Fed nearing a rate reduction after being on hold at 5.25%-5.50% for

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  • Ichimoku Watch: Salesforce Poised to Breakout Higher?

    Ichimoku Watch: Salesforce Poised to Breakout Higher?

    • August 23, 2024

    Upcoming Earnings Salesforce, Inc. (ticker: CRM) is scheduled to report earnings after the market closes on 28 August. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $1.73. The reported EPS for the same quarter a year prior was $1.63. Vulnerable Resistance? Resistance is currently being tested at US$263.42

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  • AUD/USD Gearing Up for Another Run Higher?

    AUD/USD Gearing Up for Another Run Higher?

    • August 22, 2024

    Pattern Breakout to the Upside Kicking things off with a look at the monthly chart, which shows that the Australian dollar (AUD) has been on the front foot versus the US dollar (USD) in August, up +2.6% month to date. Since late 2022, the AUD/USD pairing has carved out a symmetrical triangle between US$0.6170 and

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  • Ichimoku Watch: Further Outperformance for Nvidia?

    Ichimoku Watch: Further Outperformance for Nvidia?

    • August 22, 2024

    Upcoming Earnings NVIDIA Corporation (ticker: NVDA) is scheduled to report earnings after the market closes on 28 August. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $0.59. The reported EPS for the same quarter a year prior was $0.25. +10% Gains in August Nvidia has been on a

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  • The Pattern Pulse – 22 August 2024

    The Pattern Pulse – 22 August 2024

    • August 22, 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 Breakout Higher? The euro (EUR) continues to gain versus the US dollar (USD), with the EUR/USD currency pair attempting to elbow its way north of the 50-month simple

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  • XAU/USD: Correction to Support?

    XAU/USD: Correction to Support?

    • August 21, 2024

    Upside Momentum Slowing on the Monthly Chart Despite the yellow metal working with a clear uptrend and shaking hands with fresh record highs, momentum to the upside has noticeably decelerated. This can be observed through price action and the Relative Strength Index (RSI) on the monthly scale, which tests overbought conditions and exhibits the possibility

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  • Jackson Hole Preview: Fed Chair Powell in the Spotlight

    Jackson Hole Preview: Fed Chair Powell in the Spotlight

    • August 21, 2024

    Tomorrow marks the opening of a three-day annual event in Jackson Hole, Wyoming, a gathering of key central bankers that the world and financial markets will monitor closely. This year’s event is titled: ‘Reassessing the Effectiveness and Transmission of Monetary Policy’. Ahead of this week’s annual meeting, Minneapolis Fed President Neel Kashkari made the airwaves,

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