• The Pattern Pulse – 5 September 2024

    The Pattern Pulse – 5 September 2024

    • September 5, 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: US Dollar Index on the Back Foot Following yesterday’s US JOLTs report revealing that job openings in July fell to their lowest levels since early 2021, the US Dollar

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  • US Job Openings Fall to Levels Not Seen since Early 2021

    US Job Openings Fall to Levels Not Seen since Early 2021

    • September 4, 2024

    According to a report released by the Bureau of Labor Statistics today, the Job Openings and Labor Turnover Survey (JOLTs) revealed a fall in job openings to 7.67 million from June’s downwardly revised print of 7.91 million. This marked a fresh low for the JOLTs number since topping out at 12.2 million in March 2022,

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  • Ichimoku Watch: DocuSign at Support

    Ichimoku Watch: DocuSign at Support

    • September 4, 2024

    Upcoming Earnings: DocuSign, Inc. (ticker: DOCU) is scheduled to report earnings after the market closes on 5 September. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $0.20. The reported EPS for the same quarter a year prior was $0.09. Dip Buying? In the short term, on the H4

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  • WTI Oil Ahead of BoC Rate Announcement

    WTI Oil Ahead of BoC Rate Announcement

    • September 4, 2024

    WTI oil is seen rebounding from support ahead of today’s update from the Bank of Canada. This support is made up of a Quasimodo support level coming in from US$68.85, a 100% projection ratio at US$69.51 (an equal AB=CD bullish formation), and a channel support line, extended from the low of US$72.46. While current support

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  • US Manufacturing Activity Contracts for Fifth Consecutive Month

    US Manufacturing Activity Contracts for Fifth Consecutive Month

    • September 3, 2024

    Headline US manufacturing activity data for August 2024 came in lower than expected at 47.2 (market consensus provided by the Reuters poll: 47.5). However, it was still better than the prior reading in July at 46.8. In light of the latest report, US manufacturing activity has contracted for a fifth consecutive month (a reading south

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  • GBP/USD: Monthly and Daily Support Could Encourage Buyers North of H1 Channel Resistance

    GBP/USD: Monthly and Daily Support Could Encourage Buyers North of H1 Channel Resistance

    • September 3, 2024

    Looking at GBP/USD from a technical point of view, it is clear the pairing is higher in the long term, recently forging a fresh YTD high at US$1.3267. Monthly Chart: Scope for Further Buying Based on the monthly timeframe, the fresh high positioned price north of resistance coming in at US$1.3111, which could now deliver

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  • Ichimoku Watch: GBP/JPY Closing in on Ichimoku Cloud

    Ichimoku Watch: GBP/JPY Closing in on Ichimoku Cloud

    • September 3, 2024

    We have a simple chart of the GBP/JPY to work with today on the H4 timeframe, exhibiting an uptrend since bottoming out at ¥180.09 in early August 2024. As you can see, price action has recently formed a short-term correction within the current uptrend, which could find support at the Ichimoku Cloud, composed of the

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  • Week Ahead: US Labour Data and the BoC Rate Announcement in Focus

    Week Ahead: US Labour Data and the BoC Rate Announcement in Focus

    • August 31, 2024

    Highlights: US Employment Situation Report Bank of Canada (BoC) Rate Announcement US Jobs Data With US Federal Reserve (Fed) Chair Jerome Powell’s recent speech at the Jackson Hole Symposium confirming that it is time to begin easing policy as well as underlining the importance of the jobs market, this week’s jobs data may help determine

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  • EUR/USD Ahead of PCE Price Index Numbers

    EUR/USD Ahead of PCE Price Index Numbers

    • August 30, 2024

    Europe’s single currency is poised to end the week on the back foot versus its US counterpart and snap a two-week bullish phase. As of writing, the currency pair is down by -0.9%. 50-Month SMA Resistance Starting from the monthly chart, the 50-month simple moving average (SMA) at US$1.1109 currently offers dynamic resistance, a line

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  • US Economic Activity Grew More than Expected

    US Economic Activity Grew More than Expected

    • August 29, 2024

    According to the preliminary second estimate from the Bureau of Economic Analysis, real US Gross Domestic Product (GDP) increased at an annualised rate of +3.0% in Q2 24, marking an advance from the first estimate of +2.8% and the annual rate of +1.4% in Q1 24. The release immediately sent US Treasury yields and the

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  • The Pattern Pulse – 29 August 2024

    The Pattern Pulse – 29 August 2024

    • August 29, 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 2023 Lows With the US Federal Reserve Chairman Jerome Powell communicating it is time to begin policy easing, the US Dollar Index is on track to

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  • AUD/NZD Cross to Venture into Deeper Waters?

    AUD/NZD Cross to Venture into Deeper Waters?

    • August 28, 2024

    The Research Team briefly touched on the AUD/NZD in an earlier release, but given the underperformance in the cross today, it deserves another look. Daily Support Giving Way The pair continues to echo a bearish vibe following Australia’s July CPI inflation (Consumer Price Index) report, which displayed price pressures had eased across all key measures.

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