Technical Analysis, Take It Further

Summary:

Chart patterns are now available, making it easy for you to seize every trading opportunity.

For many traders, finding and recognizing chart patterns can be challenging. To simplify the technical analysis, FastBull Charts have undergone a significant upgrade, introducing over 20 new chart patterns!

1. Introducing Over 20 New Chart Patterns To Simplify Technical Analysis

In this update, we've added more than 20 common chart patterns to our price charts, including:

1) Classic Patterns: Double tops, double bottoms, head and shoulders, wedges, triangles, flags, channels, etc. These patterns are crucial tools for predicting price trends, and our chart patterns will help you spot them instantly.

2) Elliott Wave Theory: This theory assists in understanding market cyclical fluctuations and dynamics.

3) Candlestick Patterns: Recognizes common candlestick formations such as doji, hammer, three white soldiers, engulfing, etc., providing you with more intuitive market signals.

With these features, seeking out and identifying chart patterns becomes much easier.

Click to explore: https://www.fastbull.com/traders/chart

2. Real-time Pop-up Notifications: Seize Every Trading Opportunity

Our indicators not only assist you in identifying various chart patterns but also provide timely pop-up notifications when a pattern is formed, ensuring you capitalize on every potential trading opportunity.

With this feature, you can lighten your market monitoring workload and stay informed about new chart patterns without needing to be glued to the charts.

Click to explore: https://www.fastbull.com/traders/chart

3. Study The Nature Of Historical Price Movements

Pattern analysis is a crucial part of technical analysis. By observing historical price movements, traders can uncover market trends. However, this process often requires considerable expertise and substantial time.

Our chart patterns can highlight all past patterns on the charts for you, making your research easier and more efficient.

Click to explore: https://www.fastbull.com/traders/chart

4. Envisioning The Future

Looking ahead, we will continue to enhance and expand our range of indicators (including order flow indicators...) to provide you with a more comprehensive and professional set of technical analysis tools, assisting you in navigating the trading market with confidence.

May each of your trades be a success!

Notice:

1) Our pattern algorithm is based on common, generalized rules and may not fully align with everyone's definitions and interpretations of patterns.

2) The chart patterns are intended for educational and research purposes only. They do not personalized investment advice and should not be used as the basis for trading decisions.

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

Justin

Economic

Britain will become the first G7 country to end coal-fired power production with the closure of its last plant, Uniper’s UN0k.DE Ratcliffe-on-Soar in England’s Midlands.

It will end over 140 years of coal power in Britain.

In 2015 Britain announced plans to close coal plants within the next decade as part of wider measures to reach its climate targets. At that time almost 30% of the country’s electricity came from coal but this had fallen to just over 1% last year.

“The UK has proven that it is possible to phase out coal power at unprecedented speed,” said Julia Skorupska, Head of the Powering Past Coal Alliance secretariat, a group of around 60 national governments seeking to end coal power.

The drop in coal power has helped cut Britain's greenhouse gas emissions, which have more than halved since 1990.

Britain, which has a target to reach net zero emissions by 2050, also plans to decarbonise the electricity sector by 2030, a move which will require a rapid ramp-up in renewable power such as wind and solar.

“The era of coal might be ending, but a new age of good energy jobs for our country is just beginning," energy minister Michael Shanks said in an emailed statement.

Emissions from energy make up around three quarters of total greenhouse gas emissions and scientists have said that the use of fossil fuels must be curbed to meet goals set under the Paris climate agreement.

In April the G7 major industrialised countries agreed to scrap coal power in the first half of the next decade, but also gave some leeway to economies who are heavily coal-reliant, drawing criticism from green groups.

“There is a lot of work to do to ensure that both the 2035 target is met and brought forward to 2030, particularly in Japan, the U.S., and Germany,” said Christine Shearer, Research Analyst, Global Energy Monitor .

Coal power still makes up more than 25% of Germany's electricity and more than 30% of Japan’s power.

Source: Theedgemarkets

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

SAXO

Commodity

Forex:

Following two weeks of short covering, speculators once again turned net sellers of a weakening dollar amid rising risk appetite following the recent US rate cut, and not least after China’s leaders initiated a series of fiscal and monetary stimulus measures that helped fuel confidence, particularly among the activity currencies, led by the Australian dollar, which benefitted from the prospect of increased demand for its raw materials. Overall, the dollar short against eight IMM futures jumped 61% to USD 14.7 billion, with all except CHF seeing net buying, led by a 72% reduction in the AUD short and a 38% increase in the GBP net long. Meanwhile, the JPY net long rose for a 12th consecutive week to reach a fresh eight-year high at 66k contracts.

Commodities:

In the latest reporting week to 24 September, the Bloomberg Commodity Index jumped 3.4% as the positive impact of the recent US rate cut—reducing recession fears and lowering funding costs—was followed by a barrage of Chinese stimulus measures, potentially increasing demand from the world’s top consumer of raw materials. Gains were seen across all sectors, particularly the energy sector, where the China focus lifted crude oil prices, before prices stumbled again later in the week as the focus returned to the prospect of rising supply.

Elsewhere, China-dependent sectors, especially industrial metals, enjoyed a strong week while weather concerns continued to underpin the agriculture sector, where gains were led by soybeans, sugar, and cocoa. Finally, precious metal traders showed a relatively lukewarm buying response to another record high in gold, with silver increasingly attracting attention given its relative cheapness compared to gold.

Overall, hedge funds increased their weekly commodities exposure by the largest number of contracts in at least a decade, with all of the 27 major futures contracts, except five, seeing net buying. On an individual contract level, those that stood out were WTI, Brent, natural gas, copper, soybeans, and sugar.

COT: Fed and PBOC Trigger Largest Weekly Surge in Commodities Demand in a Decade_2

COT: Fed and PBOC Trigger Largest Weekly Surge in Commodities Demand in a Decade_3

COT: Fed and PBOC Trigger Largest Weekly Surge in Commodities Demand in a Decade_4

COT: Fed and PBOC Trigger Largest Weekly Surge in Commodities Demand in a Decade_5

COT: Fed and PBOC Trigger Largest Weekly Surge in Commodities Demand in a Decade_6

What is the Commitments of Traders report?

The COT reports are issued by the U.S. Commodity Futures Trading Commission (CFTC) and the ICE Exchange Europe for Brent crude oil and gas oil. They are released every Friday after the U.S. close with data from the week ending the previous Tuesday. They break down the open interest in futures markets into different groups of users depending on the asset class.

Commodities: Producer/Merchant/Processor/User, Swap dealers, Managed Money and otherFinancials: Dealer/Intermediary; Asset Manager/Institutional; Leveraged Funds and otherForex: A broad breakdown between commercial and non-commercial (speculators)

The main reasons why we focus primarily on the behavior of speculators, such as hedge funds and trend-following CTA's are:

They are likely to have tight stops and no underlying exposure that is being hedgedThis makes them most reactive to changes in fundamental or technical price developmentsIt provides views about major trends but also helps to decipher when a reversal is looming

Do note that this group tends to anticipate, accelerate, and amplify price changes that have been set in motion by fundamentals. Being followers of momentum, this strategy often sees this group of traders buy into strength and sell into weakness, meaning that they are often found holding the biggest long near the peak of a cycle or the biggest short position ahead of a through in the market.

Risk Warnings and Disclaimers

Add to Favorites

Alex

Economic

Bank of Korea (BOK) Gov. Rhee Chang-yong on Monday voiced hope for policy coordination and information sharing with the government as he visited the finance ministry for the first time ever as a central bank chief.

Rhee visited the ministry in the central city of Sejong to attend a town hall meeting on structural reform for the sustainable economy along with Finance Minister Choi Sang-mok, according to the Ministry of Economy and Finance.

"In the past, the BOK and the finance ministry were not supposed to interact with each other very much. But we are adapting to the demand for changes as information exchanges and policy coordination are needed between the two as the pillars of the macroeconomy," Rhee told reporters.

"I hope this visit serves as a chance to continue policy cooperation," he added, expressing gratitude for the ministry's efforts to manage fiscal policy stably and help the country achieve the inflation target of 2 percent.

Choi called Rhee's visit "historic," as Rhee became the first South Korean central bank chief to visit the ministry.

"The BOK and the ministry will now be close cooperation partners, though the relationship still is based on the independence of the central bank," Choi said.

Asked about the BOK's upcoming rate-setting meeting, Rhee said he "will not comment on the matter today" and will later explain about the effects of state policy measures after having consultations with its board members.

In August, the BOK froze the key rate at 3.5 percent, unchanged since February 2023, despite moderating inflation, and Rhee said it needs to consider rising home prices and surging household debts as crucial factors for a possible rate cut despite sluggish domestic demand.

During a local forum last week, Choi said that the government puts greater policy priority on how to prop up domestic demand over household debts, though he fully respects the BOK's rate-freezing decision.

The upcoming rate-setting meeting is scheduled to take place on Oct. 11 amid expectations for a rate cut.

Source: Koreatimes

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Warren Takunda

Economic

The Federal Reserve’s preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next.

Prices rose just 0.1% from July to August, the Commerce Department said, down from the previous month’s 0.2% increase. Compared with a year earlier, inflation fell to 2.2%, down from 2.5% in July and barely above the Fed’s 2% inflation target.

The cooling of inflation might be eroding former President Donald Trump’s polling advantage on the economy. In a survey last week by The Associated Press-NORC Center for Public Affairs Research, respondents were nearly equally split on whether Trump or Vice President Kamala Harris would do a better job on the economy. That is a significant shift from when President Joe Biden was still in the race, when about six in 10 Americans disapproved of his handling of the economy. The shift suggests that Harris could be shedding some of Biden’s baggage on the economy as sentiment among consumers begins to brighten.

Grocery costs barely rose last month, according to Friday’s report, and energy costs dropped 0.8%, led by cheaper gasoline.

Excluding volatile food and energy costs, so-called core prices rose just 0.1% from July to August, also down from the previous month’s 0.2% increase. It was the fourth straight time that monthly price increases have fallen below an annual rate of 2%, the Fed’s target. Compared with 12 months earlier, core prices rose 2.7% in August, slightly higher than in July.

“Sticky inflation is yesterday’s problem,” Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics, said in a research note.

With inflation having tumbled from its 2022 peak to barely above the Fed’s 2% target, the central bank last week cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates. The policymakers also signaled that they expect to reduce their key rate by an additional half-point in November and in December. And they envision four more rate cuts in 2025 and two in 2026.

The ongoing decline in inflation makes it even more likely that the Fed will cut its key benchmark rate further in the coming months.

On Thursday, Tom Barkin, president of the Federal Reserve Bank of Richmond, expressed support for a cautious approach to rate cuts. In an interview with The Associated Press, he said he favors reducing the Fed’s key rate “somewhat.” But Barkin said he wants to ensure that inflation keeps cooling before cutting the benchmark rate to a level that would no longer restrain the economy.

Friday’s report also showed that Americans’ incomes and spending ticked up only slightly last month, with both rising just 0.2%. Still, those tepid increases coincide with upward revisions this week for income and spending figures from last year. Those revisions showed that consumers were in better financial shape, on average, than had been previously reported.

Americans also saved more of their incomes in recent months, according to the revisions, leaving the savings rate at 4.8% in September, after previous figures had shown it falling below 3%.

The government reported Thursday that the economy expanded at a healthy 3% annual pace in the April-June quarter. And it said economic growth was higher than it had previously estimated for most of the 2018-through-2023 period.

The Fed tends to favor the inflation gauge that the government issued Friday — the personal consumption expenditures price index — over the better-known consumer price index. The PCE index tries to account for changes in how people shop when inflation jumps. It can capture, for example, when consumers switch from pricier national brands to cheaper store brands.

In general, the PCE index tends to show a lower inflation rate than CPI. In part, that’s because rents, which have been high, carry double the weight in the CPI that they do in the index released Friday.

Recent reports suggest that the economy is still expanding at a healthy pace. On Thursday, the government confirmed its previous estimate that the U.S. economy grew at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment.

Several individual barometers of the economy have been reassuring as well. Last week, the number of Americans applying for unemployment benefits fell to its lowest level in four months.

And last month, Americans increased their spending at retailers, suggesting that consumers are still able and willing to spend more despite the cumulative impact of three years of excess inflation and high borrowing rates.

The nation’s industrial production rebounded, too. The pace of single-family-home construction rose sharply from the pace a year earlier. And this month, consumer sentiment rose for a third straight month, according to preliminary figures from the University of Michigan. The brighter outlook was driven by “more favorable prices as perceived by consumers” for cars, appliances, furniture and other long-lasting goods.

Source: AP

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

FastBull Featured

1. Introducing Over 20 New Chart Patterns To Simplify Technical Analysis

In this update, we've added more than 20 common chart patterns to our price charts, including:

2) Elliott Wave Theory: This theory assists in understanding market cyclical fluctuations and dynamics.

3) Candlestick Patterns: Recognizes common candlestick formations such as doji, hammer, three white soldiers, engulfing, etc., providing you with more intuitive market signals.

With these features, seeking out and identifying chart patterns becomes much easier.

Click to explore: https://www.fastbull.com/traders/chart

2. Real-time Pop-up Notifications: Seize Every Trading Opportunity

With this feature, you can lighten your market monitoring workload and stay informed about new chart patterns without needing to be glued to the charts.

Click to explore: https://www.fastbull.com/traders/chart

3. Study The Nature Of Historical Price Movements

Our chart patterns can highlight all past patterns on the charts for you, making your research easier and more efficient.

Click to explore: https://www.fastbull.com/traders/chart

4. Envisioning The Future

May each of your trades be a success!

Notice:

1) Our pattern algorithm is based on common, generalized rules and may not fully align with everyone's definitions and interpretations of patterns.

2) The chart patterns are intended for educational and research purposes only. They do not personalized investment advice and should not be used as the basis for trading decisions.

Risk Warnings and Disclaimers

Add to Favorites

Cohen

Economic

Japan's factory output tumbled last month driven by typhoon-led disruptions in motor vehicle production and weak US sales, with the government and analysts cautioning about a subdued outlook that raises the hurdle for a solid economic recovery.

Industrial output fell 3.3% in August from the previous month, data released by the Ministry of Economy, Trade and Industry (METI) on Monday showed, worse than a median market forecast for a 0.9% drop.

"Taking into account overseas factors, it is difficult to expect a significant increase in production in the near future, and the pace of recovery will remain moderate," said Shungo Akimoto, market economist at Mizuho Securities.

Motor vehicles production dropped 10.6% in August compared to a month ago, as Typhoon Shanshan forced a swath of automakers to suspend operations, a METI official said. Automaker's certification scandals, which led to the production suspension of three models domestically, also put downward pressure on output.

Weak auto sales in the US might have also dented motor vehicle output, said Takeshi Minami, chief economist at Norinchukin Research Institute.

Production machinery also fell, including a chip-making machinery down sharply by 18.7% month-on-month in August. METI attributed the decrease to weaker overseas demand, with exports to Taiwan dropping significantly.

Although manufacturers surveyed by METI expect seasonally adjusted output to increase 2.0% in September and expand 6.1% in October, those production forecasts tend to come out stronger than the actual results.

The July-September output would be lower than the second quarter even if September output grows as anticipated, a METI official said.

"The weight on production was gradually being lifted, but there was a strong sense of uncertainty when we thought about whether we could have a bright outlook in the future," the official said.

Separate data showed Japanese retail sales rose 2.8% in August from a year earlier, above the median market forecast for a 2.3% rise.

Compared with the previous month, retail sales edged up 0.8% in August, following a 0.2% gain in July, the data showed.

Japan's economy expanded an annualised 2.9% in the second quarter as steady wage hikes underpinned consumer spending. Capital expenditure continues to grow, though soft demand in China and slowing US growth cloud the outlook for the export-reliant country.