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The Role of Central Banks in Forex Markets: A Trader’s Guide 

The Role of Central Banks

The Role of Central Banks in Forex Markets: A Trader’s Guide Central banks play a pivotal role in shaping Forex markets, impacting currency values through monetary policy decisions, interest rate changes, and market interventions. Traders, including those using Fortune Prime Global (FPG) as their broker, need to understand these impacts for informed decision-making.  Join Now […]

BTCUSD – 19 Apr 2024

BTCUSD 19 Apr 2024

BTCUSD 19 Apr 2024 In analysis for BTCUSD on the weekly timeframe shows that this crypto is having a hard time bouncing back after last week’s decline. It can be seen that the market is still in a sideways trend, with prices not experiencing any significant movement. The Stochastic indicator also shows that the market […]

Solana and Ethereum Lead Losses as Bitcoin Struggles

Solana and Ethereum Lead Losses

Solana and Ethereum Lead Losses as Bitcoin Struggles. This week has seen a surge in bearish sentiment, particularly affecting major cryptocurrencies. Solana has incurred a significant loss of 20%, while Ethereum’s value has dropped by 15%. Bitcoin experienced a brief dip below $60,000 on Wednesday, hitting a one-month low, though resilient buyers swiftly intervened, pushing […]

USOUSD – 18 Apr 2024

USOUSD 18 Apr 2024

USOUSD 18 Apr 2024 In the analysis of USOUSD on the weekly timeframe, despite previously experiencing a strong bullish trend, the commodity is again experiencing significant bearish pressure, causing the price to touch the Kumo Cloud again. The Stochastic indicator adds confirmation to this situation by showing the market has entered into an overbought zone, […]

The Fed Cautious Amidst Strong Economy

The Fed Cautious Amidst Strong Economy

The Fed Cautious Amidst Strong Economy. Key figures at the United States Federal Reserve (The Fed) have stressed the importance of exercising caution in current monetary policy decisions, citing the favorable economic landscape. Loretta Mester, President of the Cleveland Fed, emphasized the need for prudence, indicating that while inflation is expected to moderate, additional data […]

EURNZD – 17 Apr 2024

EURNZD 17 Apr 2024

EURNZD 17 Apr 2024 In the analysis of EURNZD on the daily timeframe, it can be seen that the pair is experiencing a trend reversal after experiencing a bullish trend since the beginning of this week. The pair bounced down after touching the resistance line, bringing the pair to a price position of 1.79941 today. […]

IMF Forecasts Stable yet Sluggish Global Economic Growth for 2024

IMF Forecasts Stable yet Sluggish

IMF Forecasts Stable yet Sluggish Global Economic Growth for 2024. The IMF forecasts that global economic growth will remain stable yet slow in 2024. In its latest projections, the IMF anticipates real global Gross Domestic Product (GDP) growth to reach 3.2% for both 2024 and 2025, unchanged from 2023. This growth projection has been revised […]

EURCHF – 16 Apr 2024

EURCHF 16 Apr 2024

EURCHF 16 Apr 2024 In the analysis of EURCHF on the weekly timeframe, it was seen that the pair experienced a trend reversal to bearish after a long period of bullish trend since February. Failing to move up and out from inside the Kumo Cloud, the pair experienced a decline that brought it to a […]

JPMorgan’s Stock Plummets Despite Strong Earnings

JPMorgan's Stock Plummets Despite

JPMorgan’s Stock Plummets Despite Strong Earnings. Despite a notable 6% increase in first-quarter earnings and robust revenue figures, investors directed their focus towards JPMorgan’s stagnant growth projections for the year ahead. The banking giant faced a significant setback as its stock tumbled by 6.5% on Friday, marking the sharpest one-day drop since 2020. However, despite […]

EURCNH – 15 Apr 2024

EURCNH 15 Apr 2024

EURCNH 15 Apr 2024 In the analysis of EURCNH on the daily timeframe, it can be seen that the pair experienced a significant drop, bringing the pair down below the Kumo Cloud in the middle of last week and bringing it down to the price position of 7.73234. However, at today’s open, there is a […]

PBOC Prefers To Hold Mold Interest Rates

PBOC Prefers To Hold

PBOC Prefers To Hold Mold Interest Rates. People Bank of China (PBOC) decided to maintain its monetary policy, namely by holding its benchmark interest rate on Monday (15/4/20024). The PBOC said it maintained the lending interest rate at 2.50% for a one-year medium-term lending facility (MLF) worth 100 billion yuan (US$13.82 billion) to several financial […]

XAGUSD – 12 Apr 2024

XAGUSD 12 Apr 2024

XAGUSD 12 Apr 2024 In the analysis of XAGUSD on the weekly timeframe, it can be seen that silver continues to experience a significant bullish trend, taking it well above the Kumo Cloud and successfully reaching the price position of 28,759. Despite being in a saturated zone on the Stochastic Indicator, the moving average chart […]

ECB Holds Rates Steady Amid Global Uncertainty

ECB Holds Rates Steady

ECB Holds Rates Steady Amid Global Uncertainty. The European Central Bank (ECB) decided to maintain its record-high interest rates amidst ongoing inflationary pressures, sparking uncertainty among investors regarding potential rate cuts by major central banks in the near future. The unexpected rise in U.S. inflation data caused a shift in market sentiment, delaying expectations for […]

USDNOK – 11 Apr 2024

USDNOK 11 Apr 2024

USDNOK 11 Apr 2024 In the analysis of USDNOK on the weekly timeframe, it can be seen that the pair is slightly above the Kumo Cloud and is still moving between the R1 and R2 levels. At this moment, the pair is trading at a price position of 10.85140 after experiencing a bullish trend in […]

Bank of Canada Maintains Interest Rates 

Bank of Canada Maintains Interest

Bank of Canada Maintains Interest Rates Amid Inflation Uncertainty. On Wednesday, the Bank of Canada opted to maintain its benchmark interest rate at 5% for the sixth consecutive time. The decision stems from the bank’s stance that it must be confident in the sustainability of the downward trend in inflation before considering any rate reductions. […]

USDSEK – 10 Apr 2024

USDSEK 10 Apr 2024 In the analysis of USDSEK on the weekly timeframe, it can be seen that the pair has not managed to rally back and break through the Kumo Cloud. Although it tried to initiate a bullish trend last month, the pair declined again when it was about to touch the Kumo Cloud, […]

Tesla’s Share Increases by 5%

Tesla's Share Increases by 5%

Tesla’s Share Increases by 5%. Even though the sharp losses from earlier in the year were mostly erased by the shares of the EV maker, it was still a minor dip. On Monday, Tesla’s stock increased as a wave of news excited investors. Following an unexpectedly poor first quarter, the electric vehicle manufacturer saw a […]

USDJPY – 9 APR 2024

USDJPY 9 APR 2024

USDJPY 9 APR 2024 In the analysis of USDJPY on the daily timeframe, it can be seen that the pair is still experiencing a slight sideways movement below the resistance line. Nonetheless, the price is still holding above the Kumo Cloud on the Ichimoku Indicator, signaling that the bullish trend still remains strong. In addition, […]

The Fed Rate Cut Expectations Declining

The Fed Rate Cut

The Fed Rate Cut Expectations Declining. Market participants have reduced speculation about how much the Federal Reserve will cut interest rates in 2024. These expectations dropped to the lowest level since October, LSEG data showed on Monday (8/4/2024). Fed funds futures contracts for December on Monday reflected expectations of a rate cut of about 60 […]

UKOUSD – 8 Apr 2024

UKOUSD 8 Apr 2024

UKOUSD 8 Apr 2024. In the analysis of UKOUSD on the daily timeframe, it can be seen that this commodity had experienced a significant bullish movement to break the 90,000 mark last week. However, it is currently experiencing a trend reversal to bearish. Although the price is still holding above the 90,000 mark and is […]

Middle East Tensions Affect Oil Prices

Middle East Tensions Affect

Middle East Tensions Affect Oil Prices. Oil prices have sustained major spikes. This is due to increasing tensions in the Middle East, soaring prices past the threshold of US$90 per barrel. The price of West Texas Intermediate (WTI) oil for the May 2024 contract rose 0.24% or 0.21 points to US$86.80 per barrel. Meanwhile, the […]

USDSGD – 5 Apr 2024

USDSGD 5 Apr 2024

USDSGD 5 Apr 2024 In the analysis of USDSGD on the weekly timeframe, it can be seen that the pair is still moving just below the Kumo Cloud on the Ichimoku Indicator with the current price position around 1.34944. However, there is a bullish signal emerging on the candlestick, signaling the potential for price strengthening. […]

US Trade Balance Deficit Widened

US Trade Balance Deficit Widened

US Trade Balance Deficit Widened. The United States (US) trade balance deficit widened in February 2024. This is the third widening deficit in a row. The US Department of Commerce reported that the goods and services trade deficit widened 1.9% from the previous month to US$68.9 billion, the largest deficit in almost a year. The […]

XAUUSD – 4 Apr 2024

XAUUSD 4 Apr 2024

XAUUSD 4 Apr 2024 In the XAUUSD analysis on the daily timeframe, it can be seen that gold prices have been rallying since last month and reached the 2300 level yesterday. However, there is now a bearish signal after gold touched the resistance line, which indicates selling pressure in the market. In addition, the Stochastic […]

US Treasury Secretary sees new potential in China’s economy

US Treasury Secretary sees

US Treasury Secretary sees new potential in China’s economy. United States (US) Treasury Secretary Janet Yellen suggested her country would retain options to protect new industrial sectors against China. This was revealed by Yellen on a trip to China, after what she described as the Asian country’s massive investment in various fields including clean energy. […]

Incorporating Sentiment Analysis into Forex Trading 

Incorporating Sentiment Analysis into Forex

Incorporating Sentiment Analysis into Forex Trading Forex trading, a dynamic domain where Fortune Prime Global (FPG) makes its mark, is not just about numbers and charts; it’s also about understanding market sentiment. This article will explore how sentiment analysis, a key aspect often overlooked by traders, can significantly impact Forex trading strategies.  Sentiment analysis in […]

NZDUSD – 3 Apr 2024

NZDUSD 3 Apr 2024

NZDUSD 3 Apr 2024 In the analysis of NZDUSD on the daily timeframe, it should be noted that the pair is currently at 0.59700, showing a continuation of the downtrend that has been ongoing since early last month. At this moment, the pair is below the Kumo Cloud on the Ichimoku Indicator, signaling bearish tendencies […]

Australian Consumer Confidence Drops

Australian Consumer Confidence Drops

Australian Consumer Confidence Drops. The week prior saw a slight decline in Australian consumer confidence and an increase in inflation expectations in response to higher fuel prices. Survey results show that consumer confidence dropped by 0.3 points to 82.8 in an ANZ Bank and pollster Roy Morgan survey. The four-week moving average increased by 0.1 […]

USDCNH – 2 Apr 2024

USDCNH 2 Apr 2024 In the analysis of USDCNH on the daily timeframe, it can be seen that the pair is experiencing sideways moving after experiencing a bearish trend at the beginning of last week. Although it is currently above the Kumo Cloud on the Ichimoku Indicator, the Stochastic Indicator chart also shows movement around […]

China’s Economic Recovery Signals

China's Economic Recovery Signals

China’s Economic Recovery Signals. Oil prices increased slightly following a strong increase in the first quarter of 2024. This happened because there were recent signs of recovery in China, thus supporting the demand outlook. The price of West Texas Intermediate (WTI) oil for the May 2024 contract rose 0.35% or 0.29 points to US$83.46 per […]

GBPAUD – 1 April 2024

GBPAUD 1 April 2024

GBPAUD 1 April 2024 In analyzing GBPAUD on the H1 timeframe, there are some important aspects to note. The pair has experienced a trend reversal after touching the support line, which indicates the potential for a rebound towards the R1 resistance line. However, keep in mind that the MACD indicator shows the pair positioned below […]

Qatar leases Transport Vessel to Maximize LNG Production 

Qatar leases Transport Vessel

Qatar leases Transport Vessel to Maximize LNG Production. Qatar, through QatarEnergy, has signed four agreements to lease 19 Liquefied Natural Gas (LNG) vessels in preparation for increasing national production. The majority of LNG carriers are rented from ship operators in the Asian region. The Chinese company, namely CMES Co. Ltd. and Shandong MarineGroup Ltd. each […]

EURCHF – 29 Mar 2024

EURCHF 29 Mar 2024

EURCHF 29 Mar 2024 In the analysis of EURCHF on the daily timeframe, it is important to note that the pair is experiencing a bearish trend after touching the 0.97864 price position a few days ago and bouncing down until now. Although the pair is still well above the Kumo Cloud on the Ichimoku Indicator, […]

Gold Hits Record Highs Amid Global Concerns

Gold Hits Record Highs

Gold Hits Record Highs Amid Global Concerns. Gold prices have soared to unprecedented levels, breaching the $2,230 per ounce mark, amidst a flurry of market activity driven by speculation surrounding major central banks and escalating geopolitical tensions. The precious metal’s rally comes as investors brace for potential interest rate cuts from key central banks worldwide, […]

Chinese Industrial Profits Grow Higher

Chinese Industrial Profits Grow Higher

Chinese Industrial Profits Grow Higher. Chinese industrial companies posted higher net profits in the early months of 2024. This shows that the economic recovery is gaining momentum, even though the property sector continues to face sluggishness. Based on data from the National Bureau of Statistics (NBS), Chinese industrial companies’ profits have jumped 10.2% in the […]

AUDUSD – 28 Mar 2024

AUDUSD 28 Mar 2024

AUDUSD 28 Mar 2024 In the analysis of AUDUSD on the daily timeframe, it is important to note that the pair is slightly below the Kumo Cloud on the Ichimoku Indicator, signaling bearish pressure. Moreover, the bearish signal is also supported by the price position below the Kumo Cloud, indicating the potential for further declines. […]

USDJPY – 27 Mar 2024

USDJPY 27 Mar 2024

USDJPY 27 Mar 2024 In the analysis of USDJPY on the weekly timeframe, it can be seen that the pair is in a strong bullish trend which led it to touch the resistance line. This suggests that USDJPY has the potential to continue its upward movement. However, it should be noted that the Stochastic Indicator […]

Stocks Continue Their Fall from New Highs 

Stocks Continue Their Fall

Stocks Continue Their Fall from New Highs. The tech-heavy Nasdaq fell 0.4%, while the S&P 500 lost 0.3%. The Dow Industrials, the benchmark index, fell by roughly 31 points, or 0.1%. Micron Technology saw a 1.4% increase after reaching a record high the day before. The memory chip manufacturer is expected to have its best […]

GBPUSD – 26 Mar 2024

GBPUSD 26 Mar 2024

GBPUSD 26 Mar 2024, In this analysis of GBPUSD on the daily timeframe, the pair has experienced a trend reversal to bullish after previously dropping below the Kumo Cloud on the Ichimoku Indicator. Currently, GBPUSD is inside the Kumo Cloud, indicating the potential for a significant trend change. Although the pair is still within the […]

Economic Policy of Chinese PM and IMF to Restore China’s Economy

Economic Policy of Chinese

Economic Policy of Chinese PM and IMF to Restore China’s Economy. China chose to stick with the stimulus concept which was implemented amidst pressure from the international monetary fund (IMF) to carry out economic reforms, especially more liberal ones or what is known as pro-market. Chinese Prime Minister Li Qiang in his speech at the […]

Advanced Techniques for Price Action Trading 

Advanced Techniques for Price Action Trading

Advanced Techniques for Price Action Trading Price action trading, a method that relies on historical prices to predict future market movements, is a cornerstone in the trading strategies at Fortune Prime Global (FPG). This article delves into advanced techniques for mastering price action trading.  Join Now Firstly, understanding the basic patterns like pin bars, engulfing […]

EURUSD – 25 Mar 2024

EURUSD 25 Mar 2024

EURUSD 25 Mar 2024 In the analysis of EURUSD on the weekly timeframe, the pair is still inside the Kumo Cloud on the Ichimoku Indicator after previously experiencing a trend reversal. This suggests that the market still has no clear direction and may be in a period of consolidation. However, it is important to note […]

La Nina threatens Commodity harvest

La Nina threatens Commodity

La Nina threatens Commodity harvest. The strengthening potential of La Nina has made grain farmers especially waryin Argentina, one of the world’s largest exporting countries. The La Nina phenomenon is expected to be strong in October 2024. According to the Rosario grain exchange, this phenomenon usually brings dry weather with lower rainfall. Dry conditions towards […]

EURCNH – 22 Mar 2024

EURCNH 22 Mar 2024

EURCNH 22 Mar 2024 In the analysis of EURCNH on the H1 timeframe, although the pair is below the Kumo Cloud on the Ichimoku Indicator, there is a fairly clear bullish signal. This may signal a potential trend reversal or upward correction in the short term. It is important to note that the bullish signal […]

New Zealand Enters the Brink of Recession

New Zealand Enters the Brink of Recession

New Zealand Enters the Brink of Recession, New Zealand’s economy finally entered the brink of recession in the fourth quarter of 2023. This is due to weak consumer spending and wholesale trade. Stats NZ data shows that seasonally adjusted Gross Domestic Product (GDP) fell 0.1% in the three months ending December 2023, bringing the annual […]

USDCAD – 21 Mar 2024

USDCAD 21 Mar 2024

USDCAD 21 Mar 2024, In the analysis of USDCAD on the weekly timeframe, with the current price around 1.34640, it should be noted that the pair has experienced a trend change from uptrend to downtrend. The pair is currently inside the Kumo Cloud following the trend reversal. In addition, the chart of the Stochastic Indicator […]

The Fed Holds Interest Rate Again

The Fed Holds Interest Rate Again

The Fed Holds Interest Rate Again. The United States Central Bank or Federal Reserve (The Fed) maintained its benchmark interest rate at the Federal Open Market Committee (FOMC) meeting which ended on Wednesday (21/3/2024) local time. The Fed decided to maintain the target range for its benchmark federal funds rate (FFR) at 5.25% – 5.5%. […]

USDHKD – 20 Mar 2024

USDHKD 20 Mar 2024

USDHKD 20 Mar 2024, In the analysis of USDHKD on the daily timeframe, the pair appears to be in a strong bullish trend, with price above the Kumo Cloud on the Ichimoku Indicator. This signals a potential continuation of the bullish trend which may last for a longer period of time. Indications from the Stochastic […]

Oil Prices Drop Again

Oil Prices Drop Again

Oil Prices Drop Again, Oil prices are now experiencing a decline, after experiencing the largest increase again. This is because Russia is known to have cut its supply, demand for jet fuel is slower than expected, and the Fed’s decision. Based on data on Tuesday (19/3/2024), the price of West Texas Intermediate (WTI) oil for […]

BTCUSD – 19 Mar 2024

BTCUSD 19 Mar 2024

BTCUSD 19 Mar 2024. In the analysis of BTCUSD on the daily timeframe, the price movement has shown a downside bounce when it reached the 100.0 Fibonacci level on March 13, indicating a strong resistance at that level. Currently, BTCUSD is experiencing a bearish trend that is taking it down towards the 61.8 Fibonacci level, […]

China’s Manufacturing Performance Advances

China's Manufacturing Performance Advances

China’s Manufacturing Performance Advances. China’s economic growth is reported to be mixed. Manufacturing and investment performance at the start of the year has been strong. However, consumption still recorded slower progress. China’s National Bureau of Statistics (NBS) on Monday (18/3/2024) said that manufacturing performance increased 7% in January-February 2024 from the previous year’s period. From […]

XAGUSD – 15 Mar 2024

XAGUSD 15 Mar 2024

XAGUSD 15 Mar 2024. In this analysis of XAGUSD on the daily timeframe, the commodity appears to be above the Kumo Cloud on the Ichimoku Indicator, signaling a strong bullish trend. Although it may have been bearish last week, the pair is now showing signs of returning to a bullish trend. This is supported by […]

Janet Yellen Signals US Inflation Will Fall Soon

Janet Yellen Signals US Inflation

Janet Yellen Signals US Inflation Will Fall Soon. United States (US) Treasury Secretary Janet Yellen estimates that housing rental costs, which are the biggest contributor to inflation in the country, will fall in 2024. Meanwhile, this estimate also coincides with the signing of the new rental agreement. He also said that it would take some […]

USDNOK – 14 Mar 2024

USDNOK 14 Mar 2024

USDNOK 14 Mar 2024 On the weekly timeframe, USDNOK is currently trying to go up and break the Kumo Cloud on the Ichimoku Indicator which indicates the bullish trend is still likely to continue. The support from the moving averages and Stochastic Indicator which shows price momentum going back up adds confidence in the continuation […]

Crude Oil Prices Rebound

Crude Oil Prices Rebound

Crude Oil Prices Rebound. Crude oil prices have risen after four days of losses as an industry report showed a decline in US crude stocks, offsetting unstable OPEC+ cuts. Based on data on Wednesday, the price of West Texas Intermediate (WTI) oil for the April 2024 contract rose 0.94% or 0.73 points to US$78.29 per […]

USDSEK – 13 Mar 2024

USDSEK 13 Mar 2024

USDSEK 13 Mar 2024 on the daily timeframe. The pair is below the kumo cloud on the ichimoku indicator after being bearish last week. However, the pair now appears to be in a bullish trend which may bring the pair back up through the kumo cloud. Although the pair is now only at a price […]

Wall Street Gets Positive on US Inflation

Wall Street Gets Positive on US Inflation

Wall Street Gets Positive on US Inflation. The Nasdaq index, which predominantly contains technology companies, pushed Wall Street higher in trading Tuesday (12/3/2024), in line with investors’ decision to maintain expectations of a reduction in the Federal Reverse (The Fed) interest rate in the next few months despite US inflation in February 2024 is a […]

USDJPY – 12 Mar 2024

USDJPY 12 Mar 2024

USDJPY 12 Mar 2024 on the Daily timeframe, the pair experienced a bearish trend that brought it down to break the R1. However, the pair was able to reverse the trend back to bullish before touching the kumo cloud on the ichimoku indicator. If we refer to the stochastic indicator which appears that there has […]

Japanese Stock Exchange Drops 3%

Japanese Stock Exchange Drops

Japanese Stock Exchange Drops 3%, The Japanese stock exchange, Topix Index, was recorded to have fallen 3% in Monday’s trading. The weakening occurred when the market expected the Bank of Japan (BOJ) to raise interest rates. The Topix index fell 3.1% to 2,642.31 at 13:51 Tokyo time with 32 of 33 sub-sectors experiencing declines. The […]

USDSGD – 11 Mar 2024

USDSGD 11 Mar 2024

USDSGD 11 Mar 2024 on the Daily timeframe. This pair has been bearish since last week. It failed to break S1 to continue strengthening and then dropped to the current price position of 1.33062 and is also below the kumo cloud on the ichimoku indicator. When referring to the stochastic indicator which shows that the […]

The Fed is Considering not Rushing to Lower Interest Rates

The Fed is Considering not

The Fed is considering not rushing to lower interest rates. The United States (US) central bank, the Fed, is not expected to rush to lower interest rates, considering strong job growth data in February and signs of a cooling labor market. The Labor Department report recorded an additional 275,000 jobs in February, higher than economists’ […]

Commodity Currencies: Trading Strategies and Insights 

Commodity Currencies: Trading Strategies

Commodity Currencies: Trading Strategies and Insights Commodity currencies presents a unique opportunity for traders, especially those aligned with Fortune Prime Global (FPG). Commodity currencies are the currencies of countries whose economies are heavily reliant on the export of certain raw materials for income. These include, but are not limited to, currencies like the Australian Dollar […]

EURCNH – 8 Mar 2024

EURCNH 8 Mar 2024

EURCNH 8 Mar 2024 on the H1 timeframe, this pair rallied up quite significantly after being able to reverse the trend to bullish yesterday. Having touched the price position of 7.88369 after the trend reversal, the pair now appears to be experiencing a bearish trend again. When referring to the stochastic indicator, the bearish trend […]

ECB Maintains Key Interest Rate

ECB Maintains Key Interest

ECB Maintains Key Interest Rate. The European Central Bank signaled that policymakers need more time to determine whether a historic run of rate increases has sufficiently restrained inflation for them to begin lowering rates again by holding its benchmark interest rate at a record high. The markets have been anxiously awaiting any indication as to […]

USDCAD – 7 Mar 2024

USDCAD 7 Mar 2024

USDCAD 7 Mar 2024 on Daily timeframe. The pair was bearish when it tried to break the R1. Successfully breaking out of the kumo cloud on the ichimoku indicator, the pair tried to continue to strengthen by penetrating the R1, but rebounded and went back down. Being at the price position of 1.35098 the pair […]

U.K. Treasury announces income-tax cuts.

U.K. Treasury announces income-tax cuts.

U.K. Treasury announces income-tax cuts, Ahead of an election that is scheduled for early next year, the U.K. government on Wednesday announced income tax cuts that it hopes will help spark a stagnating economy. However, the budget watchdog predicted a weak return to growth. U.K. Treasury Chief Jeremy Hunt informed lawmakers during his yearly budget […]

USDSGD – 5 Mar 2024

USDSGD 5 Mar 2024

USDSGD 5 Mar 2024 on the H1 timeframe, this pair has managed to break the support line yesterday. Although it has not managed to continue to strengthen until it breaks the kumo cloud, the pair is able to survive to stay above S2. If referring to stochastic, it appears that the chart is experiencing a […]

Türkiye’s February 2024 Inflation Nearly Reaches 70%

Türkiye's February 2024 Inflation

Türkiye’s February 2024 Inflation Nearly Reaches 70%. Turkey’s annual inflation in February 2024 reached its highest level in 15 months with a faster-than-expected rate of increase, almost approaching 70%. Turkey’s consumer price index (CPI) in February 2024 increased four months in a row to 67.1% on an annual basis, from the previous month which was […]

The Significance of Correlation in Currency Trading 

The Significance of Correlation

The Significance of Correlation in Currency Trading Understanding the intricate concept of correlation is crucial for traders aiming to maximize their strategies. At Fortune Prime Global (FPG), we emphasize the importance of correlation in forex markets, as it offers a nuanced perspective on how different currency pairs move in relation to each other. This insight […]

XAUUSD – 4 Mar 2024

XAUUSD 4 Mar 2024

XAUUSD 4 Mar 2024 on the H4 timeframe. Gold was seen moving sideways for quite a long time before finally experiencing a rise at the beginning of this month. Rising from the price position of 2046.55 to successfully touch the price position of 2085.74. However, Gold is experiencing a bearish trend again due to oversold […]

Japan Plans to Announce Success in Overcoming Deflation

Japan Plans to Announce Success

Japan Plans to Announce Success in Overcoming Deflation. The Japanese government is discussing making an official announcement that the country’s economy has successfully overcome deflation. Japanese news agency Kyodo reported that based on information from sources who did not want to be named, there were documents regarding the decision to announce the end of deflation. […]

Building a Resilient Trading Mindset for Long-Term Success 

Building a Resilient Trading Mindset

Building a Resilient Trading Mindset for Long-Term Success Success is not just about the strategies you employ or the trades you make. An often underappreciated yet crucial component is the trader’s mindset. At Fortune Prime Global (FPG), we believe that building a resilient mindset is essential for long-term success in trading.  Join Now Understanding the […]

NZDUSD – 1 Mar 2024

NZDUSD 1 Mar 2024

NZDUSD 1 Mar 2024 on the daily timeframe, the pair is experiencing bearish trend that brought it down until it broke the Kumo cloud on the ichimoku indicator. Occupying a price position of 0.61976 last week, the pair is now at a price position of 0.60943 after successfully reversing the trend from bearish to bullish. […]

The Fed Official Leaks Potential Interest Rate Cut

The Fed Official Leaks

Fed Official Leaks Potential Interest Rate Cut. New York Federal Reserve (The Fed) President John Williams opened the possibility of reducing the interest rate of the United States (US) central bank in 2024. Williams stated that the Fed might cut interest rates at the end of the year. According to him, in the remaining year […]

USDCNH – 29 Feb 2024

USDCNH 29 Feb 2024

USDCNH 29 Feb 2024 on the daily timeframe. The pair appears to be moving sideways since it failed to rally after breaking out of the kumo cloud two weeks ago. Despite dropping back into the kumo cloud, the pair is again trying to rally and break out of the kumo cloud. It is currently seen […]

US Economic Growth in Q4/2024 Revised Down to 3.2%

US Economic Growth in Q4/2024

US Economic Growth in Q4/2024 Revised Down to 3.2%. United States (US) economic growth was revised down slightly in the fourth quarter of 2023, but was still stronger than initial projections. The growth bodes well for the near-term outlook even as activity got off to a weak start due to winter. Data from the US […]

Forex Trading in Emerging Markets: Opportunities and Challenges 

Forex Trading in Emerging Markets: Opportunities and Challenges 

Forex Trading in Emerging Markets: Opportunities and Challenges Emerging markets present a unique blend of opportunities and challenges that can be both enticing and intimidating for traders. As Fortune Prime Global (FPG), a prominent ECN broker in the Forex industry, continues to expand its reach, understanding the nuances of these markets becomes increasingly important for […]

AUDUSD – 26 Feb 2024

AUDUSD 26 Feb 2024

AUDUSD 26 Feb 2024 on H4 timeframe. It can be seen that the pair is still ranging between R1 and R1 after breaking out of the kumo cloud last week. Successfully breaking through R1 after breaking out of the kumo on the ichimoku indicator and experiencing market volatility, the pair is now sitting at 0.65521. […]

Coal and CPO Strengthen in a Week

Coal and CPO Strengthen in a Week

Coal and CPO Strengthen in a Week, Coal commodity prices have strengthened in the week amid India’s plans to increase train carriages to transport coal. The price of crude palm oil (CPO) also turned green this week with the potential for stronger trading this week. The price of coal futures contracts for March 2024 at […]

Understanding and Utilizing Cross-Currency Pairs in Forex 

Understanding and Utilizing Cross

Understanding and Utilizing Cross-Currency Pairs in Forex Understanding and efficiently utilizing cross-currency pairs is essential for any trader looking to broaden their trading horizons. Fortune Prime Global (FPG), as a leading ECN broker, provides valuable insights into how these pairs operate and how they can be effectively integrated into your trading strategy.  What are Cross-Currency […]

USDJPY – 23 Feb 2024

USDJPY 23 Feb 2024

USDJPY 23 Feb 2024 on the weekly timeframe, this pair seems to continue to strengthen since the end of last year. Continuing to strengthen and now successfully occupying the price position of 150.493, this pair is still likely to continue bullish towards the resistance line. However, the condition of Japan which is haunted by recession […]

Factory Activity in Japan is Getting Worse

Factory Activity in Japan is Getting Worse

Factory Activity in Japan is Getting Worse. Factory activity in Japan is increasingly in poor condition and service sector growth will slow down in February 2024. Moreover, the Japanese economy has just entered the brink of recession. The survey conducted on Thursday revealed that business conditions are worsening at a time when economic activity is […]

GBPUSD – 22 Feb 2024

GBPUSD 22 Feb 2024

GBPUSD 22 Feb 2024 on the Daily timeframe. After a long period of sideways moving between R1 and R2, the pair had declined to break R1 and enter the kumo cloud on the ichimoku indicator earlier this month. However, the pair is now trying to regain strength and initiate a bullish trend that has led […]

Jeff Bezos finalizes Amazon stock sale plan

Jeff Bezos finalizes Amazon

Jeff Bezos finalizes Amazon stock sale plan. Jeff Bezos sells 14 million shares of Amazon.com Inc. worth around US$2.4 billion, while completing plans to sell up to 50 million shares in just nine trading days. According to the disclosure of information to the regulator, this latest transaction brings the total sale of shares worth US$8.5 […]

EURUSD – 21 Feb 2024

EURUSD 21 Feb 2024

EURUSD 21 Feb 2024 on the Daily timeframe, the pair has managed to reverse the trend and is bullish after touching the support line last week. Returning to strengthen after experiencing a decline that took it below the kumo cloud on the ichimoku indicator, the pair has now managed to occupy the price position of […]

Malaysian Ringgit Hits Lowest Level Since 1998

Malaysian Ringgit Hits Lowest

Malaysian Ringgit Hits Lowest Level Since 1998. Malaysia’s ringgit currency has continued its decline to its lowest level since the 1998 Asian financial crisis as China’s sluggish economy weighs on the neighboring country. The ringgit currency slipped past the level of 4.8 against the US dollar on Tuesday, the weakest level since reaching an all-time […]

USDSGD – 20 Feb 2024

USDSGD 20 Feb 2024

USDSGD 20 Feb 2024 on the Daily timeframe. The pair was seen breaking through the kumo cloud on the ichimoku indicator last week. Despite having experienced bearish, the pair is now trying to re-initiate a bullish trend. Now the pair has managed to occupy a price position at 1.34619 and may still continue to strengthen. […]

Foreign Investment to China Drops to Lowest Level

Foreign Investment to China Drops

Foreign Investment to China Drops to Lowest Level. Foreign investment into China in 2023 experienced the lowest increase since the early 1990s. A number of countries appear to be reducing their investment in the Bamboo Curtain country. The decline in foreign direct investment (FDI) highlights China’s challenge to seek more investment from abroad to boost […]

BTCUSD – 19 Feb 2024

BTCUSD 19 Feb 2024

BTCUSD 19 Feb 2024 on the weekly timeframe, it looks like this crypto is experiencing a pretty good bullish trend, which led him to successfully occupy the price position of 51876.42. Being well above the kumo cloud on the ichimoku indicator, makes it still possible for this crypto to continue its bullish trend. However, if […]

Apple risks being fined in the EU

Apple risks being fined in the EU

Apple risks being fined in the EU. Apple Inc. risks paying a fine worth 500 million euros in the European Union following a regulator investigation into alleged monopoly on the App Store. The fine is Apple’s first in the European Union and will be imposed after the bloc’s watchdog found that Apple violated competition rules […]

Navigating Interest Rate Fluctuations: Strategies for Traders 

Navigating Interest Rate Fluctuations

Navigating Interest Rate Fluctuations: Strategies for Traders Interest rate fluctuations represent a significant factor influencing currency values. As a leading ECN broker, Fortune Prime Global (FPG) understands the importance of staying informed and strategically responsive to these changes. Here’s a guide to help traders navigate interest rate fluctuations effectively.  Join Now Understanding the Impact of […]

Mastering the Art of Behavioral Economics in Forex Trading 

Mastering the Art of Behavioral

Mastering the Art of Behavioral Economics in Forex Trading Behavioral economics is a field that combines insights from psychology and economics to explore how individuals often deviate from purely rational decision-making. In the world of Forex trading, understanding behavioral economics can offer traders a unique edge. This article aims to delve into the key principles […]

USOUSD – 16 Feb 2024

USOUSD 16 Feb 2024

USOUSD 16 Feb 2024 on the weekly timeframe, this commodity is still unable to show significant changes after experiencing bearish which brought it down below the kumo cloud on the ichimoku indicator last year. Still trying to break through the kumo cloud and return to strength this commodity is initiating bullish and occupies a price […]

England officially entered the brink of Recession

England officially entered the brink

England officially entered the brink of Recession, The UK economy fell into recession in the second half of 2023, falling short of Prime Minister Rishi Sunak’s growth targets. UK gross domestic product (GDP) contracted by 0.3% compared to the previous quarter in the fourth quarter of 2023. The UK entered a technical recession after experiencing […]

EURNZD – 15 Feb 2024

EURNZD 15 Feb 2024

EURNZD 15 Feb 2024 on the weekly timeframe. The pair seems to be entering the kumo cloud on the ichimoku indicator after trying to initiate bullishness in the previous weeks but bouncing back to bearish. However, it appears that the pair is again trying to initiate bullish trend. If the bullishness continues to take the […]

US Inflation Touches 3.1% in January 2024

US Inflation Touches

US Inflation Touches 3.1% in January 2024. The United States (US) Consumer Price Index or inflation has increased in January 2024 amid a surge in housing rental costs. However, it is still estimated that the Fed’s interest rate cut will be carried out in the first semester of 2024. The US Department of Labor on […]

EURCHF – 14 Feb 2024

EURCHF 14 Feb 2024

EURCHF 14 Feb 2024 on the H1 timeframe, this pair was seen experiencing a trend reversal after touching the resistance line at the end of yesterday. Had experienced a significant increase until bringing this pair managed to touch the price position of 0.95060. Now this pair is in a bearish trend, if referring to the […]

The Global Economy Will Soft Land

The Global Economy Will Soft Land

The Global Economy Will Soft Land. The International Monetary Fund or IMF is very confident that the global economy will experience a soft landing following signals that central banks will cut interest rates. This belief was expressed by IMF Managing Director Kristalina Georgieva at the World Government Summit in Dubai. She added that interest rates […]

UKOUSD – 13 Feb 2024

UKOUSD 13 Feb 2024 on the daily timeframe. This commodity is seen to be in a bullish trend that has been initiated since last week. Departing from the price position of 78.239 after a trend reversal and is now at the price position of 82.194. If the bullish trend continues towards S1 then go-long can […]

Economists Say the Fed’s Current Monetary Policy is Too Tight

Economists Say the Fed's

Economists Say the Fed’s Current Monetary Policy is Too Tight. Economists assess that the United States (US) central bank, the Federal Reserve (The Fed), has been too tight in maintaining its monetary policy, the tightest since mid-2010. The results of a National Association for Business Economics poll showed that 21% of respondents thought the US […]

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