The Pattern Pulse – 24 April 2025
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- April 24, 2025
The FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Question mark on monthly resistance level for EUR/USD With the US dollar (USD) poised for lower terrain, this could underpin the euro (EUR) and call into question the reliability of resistance at US$1.1457 on the EUR/USD. If
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Despite long-term support, the dollar is eyeing deeper waters Monthly, Daily and H4 Timeframes: Although the US Dollar (USD) Index has connected with a monthly support area between 98.72 and 99.67, April’s lower low at 99.01 reached
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/GBP Downside Targets Call for Attention Monthly and Daily Timeframes: From the monthly timeframe of the EUR/GBP (euro versus the British pound), price has recoiled from support at £0.8229-£0.8315 and challenged trendline resistance from £0.9504. Complementing said
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/NZD Whipsaw Brewing? Daily Timeframe: The AUD/NZD cross (Australian dollar versus the New Zealand dollar) recently faded long-term daily resistance from NZ$1.1175 and probed below daily support at NZ$1.1088 (now marked resistance). The area I highlighted in
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD Ready to Whipsaw Above Resistance? Daily Timeframe: Following a bottom of US$1.0178 (onA 13 January) and a subsequent higher low of US$1.0211, resistance at US$1.0610-US$1.0597 calls for attention. However, given the neighbouring resistance further north at
READ MOREThe ECB (European Central Bank) continued policy normalisation today, with another 25 basis points (bps) worth of cuts across all three benchmark rates. This marks the fourth consecutive rate reduction, bringing the Deposit Facility Rate, the Refinancing Rate, and the Marginal Lending Facility Rate to 2.75%, 2.90%, and 3.15%, respectively. Frankly, I was not expecting
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Long-Term Hammer Pattern for GBP/USD Monthly Timeframe: Longer-term price action on the GBP/USD (British pound versus the US dollar) erased 6.5% in Q4 24. Following this, price shook hands with support at US$1.2173 earlier in January this
READ MOREThe first meeting of the year observed the US Federal Reserve (Fed) put the brakes on policy for the first time since July 2024. In a unanimous vote, the central bank kept the target rate at 4.25-4.50%, which triggered a moderate bid in the US Dollar Index and US Treasury yields, with a dip witnessed
READ MOREYour weekly outlook of technical patterns. The FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Inverted Head and Shoulders Pattern on NZD/USD Daily Timeframe: Versus the US dollar (USD), the New Zealand dollar (NZD) has been on the ropes since October 2024, with rallies swiftly sold.
READ MOREYour 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 Showing Scope to Explore Higher Terrain Monthly/Daily Timeframes: With room for monthly price to run for resistance at 109.33 and the daily timeframe rebounding from support between
READ MOREYour 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: USD Approaching Range Resistance Daily Timeframe: The US dollar (USD) remains well bid, with November’s current outperformance positioning the greenback 3.0% higher versus a basket of six international currencies
READ MOREYour 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 Still on the Ropes Monthly/Daily Timeframes: Europe’s shared currency continues to trade on the back foot versus its US counterpart, down more than 3.0% month to date. Interestingly,
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