Fed Holds Target Rate Unchanged; Revises Growth and Inflation Forecasts
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- March 19, 2025
Following an all-time high of US$0.4671 in early December 2024, Dogecoin (DOG) had printed a correction versus the US dollar (USD) and rebounded from the Ichimoku Cloud Support area. This support zone was formed following the Ichimoku’s Leading Span A (light green at US$0.3576) crossing above the Leading Span B (light orange at US$0.2965) in
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 Refreshes Year-to-Date Peaks Monthly Timeframe: As expected, the US Federal Reserve (Fed) cut the funds rate by 25 basis points yesterday and echoed a strong hawkish bias
READ MOREThe AUD/JPY (Australian dollar versus the Japanese yen) has begun exhibiting bullish intent since printing a bottom at ¥95.52 earlier this month. However, while defined higher highs and higher lows are visible, a pennant pattern is forming. This demonstrates that although price action is establishing higher highs, upside momentum is slowing and technically suggests that
READ MORESince early October, sellers have largely taken control of the NZD/USD (New Zealand versus the US dollar) and sent price to lows not seen since late 2022, with limited pullbacks seen. Overall, the currency pair is down nearly 10% from October highs. Ichimoku Resistance Supporting Sell-On-Rally Setups What is technically important to recognise is that
READ MOREThe European Central Bank (ECB) reduced the Deposit Facility Rate by 25 basis points (bps) to 3.0% today amid easing inflationary pressures and faltering growth. The rate cut also marks the central bank’s fourth rate reduction this year, with the interest rate at its lowest since early 2023. This also followed the Swiss National Bank
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: Pennant Pattern Completion for the Dollar Index Daily Timeframe: Since October, the US Dollar Index has rallied nearly 6.0%, forming what many technical analysts will recognise as a Golden
READ MOREPrice action on the daily timeframe of AUD/JPY (Australian dollar versus the Japanese yen) traded strongly to the downside in the final week of November. This followed a slow and gradual pullback since August. Closing in on Resistance Recent price movement has seen the Ichimoku’s Conversion Line (blue at ¥97.37) cross beneath the Base Line
READ MOREBTC/USD (Bitcoin versus the US dollar) has made north of US$100,000 following a brief consolidation just beneath the number in the shape of a pennant pattern. Year to date, the major Crypto pair has risen by nearly 150%. Following Donald Trump’s US election victory, BTC has strongly outperformed and, over the last 24 hours, received
READ MOREFollowing an all-time high of US263.72 in November (up 45%), SOL/USD (Solana versus the US dollar) price action on the daily timeframe is in the process of drawing up a pennant pattern between the record high and a low of US$220.78. Pennant Pattern and Ichimoku Support Combination What is interesting here is that the pennant
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 MORESince November, the price of Ripple (XRP) versus the US dollar (USD) has rallied more than 450%. It is safe to say that the trend in XRP/USD is to the upside for the time being and traders will likely bid any corrections, particularly from support. You will see that from the end of November, price
READ MOREThe first full week of December places the spotlight on US jobs data. Employment metrics from the ISM (Institute for Supply Management) manufacturing and services PMIs (Purchasing Managers’ Indexes) land on Monday and Wednesday, respectively, JOLTs data (Job Openings and Labor Turnover Survey) airs Tuesday, ADP jobs numbers (Automatic Data Processing) are out Wednesday, weekly
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