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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
- 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
- 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
- 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
- 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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UK CPI Inflation Data Ahead: Sterling Hovering North of Key Support
- April 16, 2024
Following today’s mixed bag of employment and wages data, tomorrow’s attention is directed to the March UK CPI inflation release, scheduled to air at 7:00 am GMT+1. Estimates Suggest Further Disinflation Both headline and core (excludes food, energy, tobacco and alcohol) measures have surprised to the downside in the previous two releases and are expected
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USD/CAD Forecast: Retail Sales Boost US Dollar, Canada’s CPI in Focus
- April 16, 2024
Canada’s March inflation is expected to rise to 2.9%, potentially impacting a June rate cut. US retail sales beat forecasts, keeping the not-so-soon rate cut story. USD is buoyed by the Chinese authorities, allowing a lower yuan. Good morning to all our readers! Yesterday was dominated by US retail sales data; retail sales rose 0.7%
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Mixed Bag for UK Data!
- April 16, 2024
Earlier this morning, the Office for National Statistics (ONS) released the latest UK earnings and employment data, and it was largely a mixed print overall. UK Unemployment Jumps to 4.2% UK unemployment climbed to 4.2% from December 2023 to February 2024, up from 3.9% in the three months to January 2024. This marks the largest
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FP Markets Increases its Commodity Offering, Adding Brent Oil, Cotton and Sugar Futures
- April 16, 2024
FP Markets Increases its Commodity Offering, Adding Brent Oil, Cotton and Sugar Futures 16 April 2024 In response to increased client demand for flexibility in the commodities market and in line with its commitment to deliver comprehensive trading solutions, FP Markets has announced the expansion of its commodity offering. The move allows traders and investors
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Brokersview Awards 2024 Singapore – Best Price Execution Award
- April 16, 2024
FP Markets celebrates excellence with the Best Price Execution Award at the Brokersview Awards 2024 in Singapore. We recently took home the Best Price Execution Award at the BrokersView Award ceremony in Singapore! FP Markets would like to dedicate this award to all our clients and teams.
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Dollar’s Safe-Haven Status Could Hold Strong Amid Market Turmoil
- April 15, 2024
Dollar’s Safe-Haven Status Could Hold Strong Amid Market Turmoil Iran’s attack on Israel had a limited impact on the Forex market. US retail sales data today follows a strong CPI, with little expected impact on Fed rate cut projections for 2024. The corrective upside in the Pound and Euro lacks firm conviction. Good morning to
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Index and Commodities Trading Week Beginning 15/04/2024
- April 14, 2024
XJO WEEKLY Price structure: Rejection of the high The Fake Out (FO) discussed two weeks ago has continued to play out with a reversal in the form of an outside period (OPd) and, last week, a further rejection of the high with a low closing price in the overall range. With the price remaining within
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