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BTC/USD Update: Correction Territory
- March 23, 2024
A Correction Was Inevitable at Some Point Against the US dollar (USD), the price of Bitcoin (BTC) has been on a tear in recent weeks, refreshing all-time highs of $73,845. The recent correction, however, has some traders questioning how low the market can drop. Based on the current uptrend, in place since bottoming at $15,581
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BoE Holds the Line; Vote Split Change Triggers Dovish Reaction
- March 21, 2024
8-1 Vote in Favour of Bank Rate Hold Following the Fed holding its Fed funds target rate at 5.25%-5.50%, and the Swiss National Bank (SNB) surprising markets this morning and cutting its overnight Policy Rate by 25bps, the Bank of England (BoE) followed the Fed and left the Bank Rate on hold at 5.25% (a
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The Pattern Pulse—21 March 2024
- March 21, 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: Dollar Index Targeting Support Daily Timeframe – Following yesterday’s FOMC event—rates were left unchanged at 5.25%-5.50%, and the Fed’s dot plot showed officials still project three rate cuts this
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FOMC to Hold the Line; Eyes on the Guidance/Dots
- March 20, 2024
Following the Reserve Bank of Australia (RBA) standing pat on rates and the Bank of Japan (BoJ) raising its Policy Rate by 10bps, consequently putting a cap on NIRP, as well as ending YCC, the focus shifts to today’s FOMC rate decision at 6:00 pm GMT. Fed Funds Rate to Remain at 5.25%-5.50% It is
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BoJ Hikes Rates but Serves up Limited Guidance
- March 19, 2024
Following a raft of mixed messages from the Bank of Japan (BoJ) and stronger-than-expected wage negotiations for corporate Japan, the central bank stepped up overnight and ended eight years of negative interest rate policy (NIRP) as well as putting a cap on yield curve control (YCC). The BoJ raised its Policy Rate by 10bps for
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Index and Commodities Trading Week Beginning 18/03/2024
- March 17, 2024
XJO WEEKLY Price structure: Breakout retest The key reversal bar stands out as a retest of the 7632 breakout level. This is the key level for the buyers to hold this week. The underlying Primary trend remains UP. A further decline below the 7632 level puts the 7300 level as support to hold. Seasonally, in late
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Huge Week for the Markets!
- March 16, 2024
At the centre of things this week are rate announcements from major central banks, including updates from the US Federal Reserve (the Fed), the Bank of England (BoE), the Bank of Japan (BoJ), the Swiss National Bank (SNB) and the Reserve Bank of Australia (RBA). We also welcome inflation numbers from Canada and the UK,
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The Pattern Pulse—14 March 2024
- March 14, 2024
Your weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD Buyers Resilient Monthly Timeframe – Price action on the monthly chart of the EUR/USD offers an interesting technical landscape to work with. You will acknowledge that support from $1.0519 has
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Monthly UK GDP Elbows into Positive Territory
- March 13, 2024
The latest data from the Office for National Statistics (ONS) revealed that the UK economy rebounded by 0.2% in January (in line with market forecasts), bolstered by robust growth in retail, wholesale and construction. This followed a month-over-month fall of 0.1% in December 2023 and two consecutive quarters of contraction in the second half of
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XAU/USD: Support at $2,147 to Welcome Dip Buyers?
- March 11, 2024
Last week, we witnessed the price of spot gold (XAU/USD) refresh all-time highs (ATHs), comfortable north of the $2,000 mark at $2,195. Markets witnessed demand for the precious metal increase based on a number of factors, which has seen buyers lift prices higher for eight consecutive days. Last week also recorded its largest one-week gain
READ MOREIndex and Commodities Trading Week Beginning 11/03/2024
- March 10, 2024
XJO WEEKLY Price structure: Breakout New ATH targets 8000 points The Index has again closed at an all-time high and remains in a Primary UP trend. With the majority of the underlying stocks still below their 200-day moving averages, continued sentiment may lift the Index considerably higher, with 8000 points a strong target as Bullish sentiment improves.
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US Equity Indices: Indecisive End to the Week
- March 9, 2024
Upside Momentum Slowing While it was another all-time high (ATH) for the S&P 500 last week, reaching 5,189, upside momentum is beginning to slow and concluded the week tentatively. The Dow Jones Industrial Average also ended a second week in negative territory and the Nasdaq 100 and Nasdaq Composite finished off ATHs in the shape
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