U.S. Non-Farm Payrolls Preview
As U.S. non-farm payrolls data approaches, set to release tomorrow (Friday, October 6th) at 1:30 pm (UK time), let's delve into market expectations and positioning regarding this pivotal economic report.
Expectations:
In August, the US added 187,000 new jobs, but the unemployment rate also rose to 3.8%. This increase was...
Welcome to our Power Patterns series in which we teach you how to trade some of the most powerful price patterns which occur on any timeframe in every market.
The pullback is undeniably one of the most valuable trading patterns as it offers an opportunity to join established trends at favourable levels of risk / reward. However, in real-world trading...
Gold: How low can it go?
It’s been a bad couple of weeks for gold bugs with the precious metal sinking to a six-month low.
A key driver behind the gold sell-off has been the strength of the U.S. dollar which was given fresh impetus following the Fed’s hawkish ‘higher for longer comments’ at the latest FOMC meeting.
Given that gold is typically priced in...
Marks & Spencer (MKS)
Financials:
Marks & Spencer reported strong growth in both its Food and Clothing & Home businesses for the first 19 weeks of the financial year. Food sales increased by over 11%, driven by price changes, while Clothing & Home sales grew by more than 6%, primarily due to in-store growth. Despite economic uncertainties, the company expects...
Welcome to Part 5 of our 7-part Power Patterns series. In this series, we'll be equipping you with the skills to trade some of the most indicative price patterns which occur on any timeframe in every market.
This week’s pattern, the Triple Top is a reversal signal that applies just as well to lower timeframe day trading as it does to higher timeframe swing...
USD/JPY Climbs Towards Key Highs
USDJPY’s powerful long-term uptrend has been reignited after last week’s sharply contrasting policy statements from the Federal Reserve and Bank of Japan.
Fed Chair Jay Powell, indicated a commitment to keeping interest rates higher for a longer period, suggesting a more hawkish stance. In contrast, Governor Kazuo Ueda of the...
EUR/USD tests key support after Fed signals higher for longer
EUR/USD is currently testing a key support level after the Federal Reserve indicated a potential extension of higher interest rates.
Despite maintaining its benchmark interest rate at a 22-year high during its recent two-day meeting, the Federal Open Market Committee signalled its support for...
Welcome to our Power Patterns series in which we teach you how to trade some of the most powerful price patterns which occur on any timeframe in every market.
In this week's instalment, we delve into the Break & Retest pattern—a strategic approach to navigating breakout trades. If you've wrestled with the frustration of false breakouts, incorporating this...
Cable coils near lows ahead of Fed and BoE rate decisions
It’s a big week for Cable (GBP/USD) as both the Federal Reserve and the Bank of England are set to make crucial rate decisions.
The action begins on Wednesday with Fed Chair Jay Powell widely anticipated to keep rates unchanged at 5.5%.
On Thursday, attention shifts to Andrew Bailey's announcement at...
FTSE 100 Technical Outlook
In prior technical outlooks, we highlighted the importance of staying alert in sleepy markets, and last Thursday’s developments on the FTSE 100 serve as a prime illustration of this principle.
Having spent the first half of the week coiled and consolidating, the FTSE burst into life on Thursday – breaking and closing above multiple...
Tesla Gap Higher on Supercomputer Boost
Tesla's share price gapped higher on Monday after investment bank, Morgan Stanely said Tesla’s supercomputer, known as Dojo had the potential to boost its market cap by $600 billion.
Dojo's production began in July, and Tesla plans to invest over $1 billion in it by next year. The supercomputer could create new markets...
Welcome to our Power Patterns series in which we teach you how to trade some of the most powerful price patterns which occur on any timeframe in every market.
When it comes to powerful price patterns, the bearish engulfing pattern is right at the top of the list. It provides traders with a clear and decisive signal that sellers have taken control of the...
Cable pulls back to key resistance
Cable (GBP/USD) has been staircasing lower since mid-July and carving out a powerful downtrend on the 4hr candle chart (below).
A key characteristic of this downtrend has been repeated moves down into the lower Keltner channel followed by pullbacks to the 20-day exponential moving average (EMA).
Recent price action has seen...
Overview
Last week’s price action saw gold break and close below the small ascending channel which had formed during the final week of August.
The bearish channel breakdown was a scenario we mapped out in last week’s gold game plan.
A key catalyst behind the move lower in gold was a resurgent U.S. dollar with the dollar index (DXY) hitting highs not seen since...
FTSE 100 Technical Outlook
This week's FTSE price action illustrates traders' sensitivity to interest rate expectations on both sides of the Atlantic.
On Tuesday, the FTSE experienced a post-bank holiday rebound, driven by weaker U.S. job numbers that were perceived to alleviate pressure on the Fed to raise interest rates further. Notably, Tuesday's rally...
Is Nvidia Finally Topping Out?
Nvidia, the chip manufacturer, has unquestionably been the standout stock of the year, driven by the increasing demand for its 'supercomputer' chips that are playing a key role in the AI revolution.
The company's shares have experienced a remarkable uptrend, surging by an impressive 227% year-to-date. However, we are starting to...
Welcome to Part 2 of our 7-part Power Patterns series. In this series, we'll be equipping you with the skills to trade some of the most powerful price patterns which occur on any timeframe in every market.
This week’s pattern, the ascending triangle can often precede fast and powerful breakouts. A strong understanding of this pattern is essential for any trader...
EUR/USD Breaks Support as Bear Channel Continues
EUR/USD has been carving out a series of lower swing highs and lower swing lows on the daily candle chart (below) – creating a bearish descending channel.
Last Friday’s better than expected nonfarm payrolls has seen a resumption of U.S. dollar strength and caused EUR/USD to move lower from the top of the...
