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.
US indices start to draw attention as traders focus on the outlook for Q4.
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.
EUR/USD is currently testing a key support level after the Federal Reserve indicated a potential extension of higher interest rates.
The Bank of England has left rates unchanged at 5.25% with a 5-4 vote split after CPI dropped more than expected in August
GBP drops after a softer CPI reading scares investors about the BoE intentions. JPY on the lookout for further policy tweaks from Governor Ueda.
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 pattern into your trading toolkit may help you overcome this challenge and put you on the path to becoming a more confident and consistent trader.
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.
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.
The FTSE 100 rose over 2% on Thursday as the ECB announced no more rate hikes for now.
ECB hikes another 25bps in September but signals that this may be the last one.
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.
US CPI rose 0.6% in August in line with analyst estimates. Markets were anticipating a yearly change of 3.6%, but the actual figure has come in higher at 3.7%
Oil prices are on the rise once again. US crude managed to break above a key resistance back in late August and has been steadily making its way towards the $90 mark, with Brent crude trading above $92 per barrel for the first time since November.
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 market.