USD/CAD Retracts from Nearly 2-Month High Yesterday, the USD/CAD exchange rate climbed above 1.3785 for the first time since mid-April. However, today's USD/CAD chart shows that it failed to consolidate at this peak and has dropped to a weekly low. These fluctuations might be interpreted as traders positioning themselves ahead of today's critical events....
FTSE 100 Index Declines After Labour Market News The British stock index FTSE 100 (UK 100 on FXOpen) dropped nearly 1% yesterday due to the release of economic data indicating a rise in unemployment. According to ForexFactory: → The Claimant Count Change (number of unemployment benefit claims) was 50,000 (expected = 10.2k, previous month = 8.4k). This is the...
Market Analysis: USD/JPY Continues To Rise USD/JPY is rising and might take out the 157.40 resistance. Important Takeaways for USD/JPY Analysis Today - USD/JPY climbed higher above the 155.25 and 156.25 levels. - There is a connecting bullish trend line forming with support at 156.85 on the hourly chart at FXOpen. USD/JPY Technical Analysis On the hourly...
Market Analysis: EUR/USD Dives EUR/USD gained bearish momentum below the 1.0810 support. Important Takeaways for EUR/USD Analysis Today - The Euro started a fresh decline below the 1.0810 support zone. - There is a connecting bearish trend line forming with resistance at 1.0760 on the hourly chart of EUR/USD at FXOpen. EUR/USD Technical Analysis On the...
How Do Dovish and Hawkish Monetary Policies Affect Markets? In the intricate dance of global finance, central banks play a leading role, their policies echoing through markets and economies. The terms "dovish" and "hawkish" encapsulate their strategies towards interest rates and money supply, each with profound implications for currency values and investor...
AAPL Shares Drop Following the Apple Intelligence Presentation Yesterday, 10 June, at the WWDC2024 conference, the American corporation Apple unveiled its new artificial intelligence system, Apple Intelligence (AI). Apple Intelligence will allow users to enhance their text and communicate more effectively: rewriting, proofreading, and summarising text almost...
Goldman Sachs Predicts a Rise in Brent Crude Oil Prices According to CNBC, Goldman Sachs analysts believe that Brent crude oil prices should increase in the third quarter due to summer fuel demand leading to a “significant” deficit—approximately 1.3 million barrels per day. They forecast that the price of Brent could rise to $86 per barrel with a “ceiling”...
Gold Price Drops After US Employment Report As per ForexFactory, the Non-Farm Employment Change report revealed an actual increase of 272 thousand jobs (expected = 182k, previous value = 165k). A robust job market provides further arguments for the Federal Reserve to continue its tight monetary policy. Consequently, the news led to a rise in the dollar index...
EUR/GBP Rate at 21-Month Low Post-European Parliament Elections Investors will begin the week in a state of uncertainty regarding the outlook of Europe's political landscape. The four-day European Parliament elections concluded on Sunday. According to Reuters, the results showed a significant gain for eurosceptic-nationalists, who have displaced liberals and...
Trend Reversals and the Sushi Roll Reversal Pattern Understanding trend reversals is essential for optimising trading and managing risks. This article delves into the concept of trend reversals, with a focus on the Sushi Roll reversal pattern—a sophisticated tool that helps traders anticipate significant market shifts—exploring its formation, context, and...
Weekly Market Wrap With Gary Thomson: S&P 500, US Dollar, Gold and Silver, MSFT Shares Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. - S&P 500 Index: Latest Analysts’ Forecasts - The Dollar Continues...
EUR/USD Analysis: ECB Cuts Interest Rate for First Time Since 2019 By its decision, the ECB followed the example of the Bank of Canada, which lowered interest rates by 0.25%, as we reported yesterday. Consequently, this trend might continue with the Federal Reserve, marking the development of easing monetary policy cycles in Western economies. According to...
Market Analysis: Crude Oil Price Rises Crude oil is recovering and might rise toward the $78.40 resistance zone. Important Takeaways for Oil Prices Analysis Today - Crude oil is recovering losses and trading above the $74.30 support. - There was a break above a connecting bearish trend line with resistance near $73.50 on the hourly chart of XTI/USD at...
Market Analysis: Gold Price Gains Traction Gold price started a fresh increase above $2,350. Important Takeaways for Gold Prices Analysis Today - Gold price started a decent increase from the $2,315 zone against the US Dollar. - A major bullish trend line is forming with support at $2,368 on the hourly chart of gold at FXOpen. Gold Price Technical Analysis...
Mastering Multiple Timeframe Trading Strategies In the fast-paced world of trading, the ability to analyse and interpret multiple timeframes can be one of the advantages of a trader. In this FXOpen article, we will delve into the concept of multiple timeframes in trading and consider two multiple timeframe trading strategies based on it. Understanding Multiple...
USD/CAD Analysis: Bank of Canada Cuts Interest Rate by 0.25% This occurred yesterday and was in line with analysts' forecasts, according to a Bloomberg survey. According to statements from the Bank of Canada: → Price growth indicators for consumer price index components have further decreased and are close to their historical average; → Recent data has...
The Price of Silver Is Acting Weaker Than Gold According to Reuters, precious metal prices have risen in the past 1-2 days as Treasury yields have fallen, enhancing metals' appeal as a "safe haven" for investor portfolios. Currently: → Expectations are growing that US interest rate cuts may begin as early as September; → Market participants are focusing on...
Is ADBE Stock Undervalued? The stock chart for Adobe Systems shows that on May 31, 2024, the price fell below $440 – for the first time since June 2023. This drop was partly due to increased competition from Canva, which released updated tools. However, in early June, the decline did not continue, suggesting that ADBE stock is consolidating around a multi-month...