• XAU/USD: A Trend-Follower’s Market

    XAU/USD: A Trend-Follower’s Market

    • April 25, 2024

    Spot gold (XAU/USD) is +0.7% higher in US trading despite an earlier spike lower that was fuelled by the latest US GDP report (the first estimate). Trend + AB=CD Support Suggest a Buyers’ Market Technically, the price of gold could be poised to attack higher terrain. The trend, according to the higher timeframes, is unquestionably

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  • US GDP Data Delivers Mixed Vibe: Growth Slows While Inflation Accelerates

    US GDP Data Delivers Mixed Vibe: Growth Slows While Inflation Accelerates

    • April 25, 2024

    US GDP, according to the first estimate (or ‘advance estimate’) for real GDP growth, revealed a HUGE miss and stresses a cooling economy. According to the Commerce Department, US economic activity slowed significantly in Q1 of 2024, increasing at an annualised rate of 1.6%. This fell considerably short of economists’ estimates of 2.5% (the estimate

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  • The Pattern Pulse – 25 April 2024

    The Pattern Pulse – 25 April 2024

    • April 25, 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: GBP/USD Recoils from Noted Support, Targetting Resistance Daily Timeframe – The British pound versus the US dollar (GBP/USD) recently rebounded from a highlighted area of support at $1.2339ish (made

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  • GBP/USD Crossing Swords with Technical Confluence!

    GBP/USD Crossing Swords with Technical Confluence!

    • April 22, 2024

    Amidst a dovish repricing, according to the OIS curve, sterling is on the back foot against the majority of its G10 peers ahead of the US cash open, currently down -0.4% versus its US counterpart. Technically, however, we are at an interesting juncture on the daily chart, with notable technical support aided by the Relative

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  • WTI Oil in Focus This Week

    WTI Oil in Focus This Week

    • April 20, 2024

    Amid tensions in the Middle East, potentially disrupting oil supplies, the oil complex is an interesting market to keep an eyeball on at the moment. As of writing, escalation between Iran and Israel has been limited following attacks from both sides earlier this month. What is reasonably clear is that both nations are trying to

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  • Week Ahead: US GDP and PCE Numbers Take Centre Stage

    Week Ahead: US GDP and PCE Numbers Take Centre Stage

    • April 20, 2024

    The path for future interest rates in the US remains uncertain, with some Fed officials even talking about the possibility of rate hikes if inflation continues to increase. From six rate cuts to less than two (-39bps), the hawkish repricing in the swaps market for the Fed funds target rate this year has reinforced a

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  • Dollar Index In View Ahead of Data

    Dollar Index In View Ahead of Data

    • April 20, 2024

    Ahead of this week’s US GDP first estimate print and the PCE Price Index numbers, the US Dollar Index will likely be a watched market. Buyers remain firmly at the wheel. YTD, we are nearly +5.0%, with April on track to close higher for a fourth consecutive month, up +1.5% MTD. And from a technical

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  • Bears In the Driving Seat for Tesla (TSLA)

    Bears In the Driving Seat for Tesla (TSLA)

    • April 18, 2024

    Chart Pattern Structure Indicates Additional Underperformance for the Stock Chart pattern enthusiasts will acknowledge two key patterns in play on Tesla’s daily chart at the moment. Longer-term, we have what is referred to as a falling wedge pattern unfolding, taken from $205.28 and $175.01; these are generally considered reversal structures that demonstrate slowing momentum to

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  • The Pattern Pulse – 18 April 2024

    The Pattern Pulse – 18 April 2024

    • April 18, 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: USD/JPY Eyeing 1990 Highs Monthly Timeframe – The USD/JPY currency pair recently refreshed multi-decade highs of ¥154.79, a move probing offers at channel resistance, taken from the high of

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  • NZD/USD: Solid Technical Case for Both Buyers and Sellers

    NZD/USD: Solid Technical Case for Both Buyers and Sellers

    • April 17, 2024

    We have an interesting technical picture unfolding on the NZD/USD at the moment. From the daily timeframe, it is evident that the currency pair has been underwater for the majority of this year. In fact, year to date, we are lower by -6.6%. Further Selling? Favouring bears at this point is the downtrend shaped by

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  • BTC/USD on the Ropes: Weekly Support Calls for Attention

    BTC/USD on the Ropes: Weekly Support Calls for Attention

    • April 17, 2024

    Technical Picture Favours Bears Week to date, against the US dollar (USD), the price of bitcoin (BTC) is down more than -7.0% and touching gloves with levels not seen since mid-March. Technically, the longer-term picture exhibits overbought/overvalued conditions. Following the all-time high clocked in early March at $73,845, commitment from buyers has been lacklustre and

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  • Stronger-Than-Expected UK Inflation Data

    Stronger-Than-Expected UK Inflation Data

    • April 17, 2024

      YY Headline: 3.2% (Est: 3.1%; Prev: 3.4%) MM Headline: 0.6% (Est: 0.4%; Prev: 0.6%) YY Core: 4.2% (Est: 4.1%; Prev: 4.5%) MM Core: 0.6% (Est: 0.5%; Prev: 0.6%) The March UK CPI numbers hit the wires earlier this morning, revealing a slower-than-expected pace of disinflation across all four key metrics. While all four reports

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