NIO Shares Surged Over 9% on Sales Growth Expectations
As evidenced by the NIO stock price chart, yesterday's trading closed at $4.93, while today the NIO share price is around $5.40, indicating an increase of over 9%.
According to MarketWatch, the rise is driven by expectations that the Chinese electric vehicle manufacturer's deliveries are likely to reach...
Market Analysis: USD/CAD Eyes More Gains
USD/CAD is rising and might aim for a move above the 1.3690 resistance zone.
Important Takeaways for USD/CAD Analysis Today
USD/CAD is showing positive signs above the 1.3660 support zone.
There is a connecting bearish trend line forming with resistance near 1.3690 on the hourly chart at FXOpen.
USD/CAD...
Market Analysis: GBP/USD Dips
GBP/USD is attempting a recovery wave from 1.2680.
Important Takeaways for GBP/USD Analysis Today
The British Pound started a fresh decline from the 1.2800 resistance zone.
There is a key bearish trend line forming with resistance near 1.2740 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the...
Supply and Demand Trading Patterns and Strategies
Understanding the nuances of supply and demand is essential for traders to discern potential market reversals, identify trend continuations, and execute well-informed trading strategies. This article delves into the core patterns and strategies of trading based on these zones, providing a structured approach to...
Nasdaq Index Shows Uncertainty Ahead of PCE Release
The main event of the week is the release of the Personal Consumption Expenditures (PCE) index, which the Federal Reserve particularly focuses on when assessing inflation in the US. The release is scheduled for Friday at 15:30 GMT+3. As this important event approaches, rumours and trader expectations about the...
EUR/USD Exchange Rate Has Fallen Below 1.08 Level
As the EUR/USD chart today shows, yesterday the rate dropped by 0.46% – the most significant strengthening of the US dollar against the euro in one day this month. Moreover, the rate fell below the psychological mark of 1.08 euros per dollar (in the first half of May, it served as resistance).
Yesterday's...
GBP/JPY at Highest Level in Over 15 Years
As shown by today's GBP/JPY chart, the exchange rate has not only surpassed the psychological level of 200 yen per pound but has also exceeded the peak of 29 April 2024. The market is now experiencing prices last seen in 2008.
The main driver of the pound’s strength against the yen is the difference in monetary policies...
Elon Musk Contributes to NVDA Price Surge to a New Record
Yesterday, on Tuesday, Nvidia's stock price reached a historic high, surpassing the $1,130 mark, increasing by almost 7% relative to Monday's closing price. This happened after a turbulent past week, during which Nvidia published a very strong report that led to an over 8% rise in its stock price in one...
Market Analysis: USD/CHF Targets Upside Break
USD/CHF is rising and might aim a move toward the 0.9155 resistance.
Important Takeaways for USD/CHF Analysis Today
USD/CHF is showing positive signs above the 0.9110 resistance zone.
There is a connecting bearish trend line forming with resistance at 0.9130 on the hourly chart at FXOpen.
USD/CHF...
Market Analysis: EUR/USD Slips
EUR/USD started a downside correction from the 1.0890 resistance.
Important Takeaways for EUR/USD Analysis Today
The Euro struggled to clear the 1.0890 resistance and declined against the US Dollar.
There was a break below a key bullish trend line with support at 1.0860 on the hourly chart of EUR/USD at FXOpen.
EUR/USD...
Forex Market Sentiment Strategies
In forex trading, high performance often hinges not only on fundamental knowledge and technical analysis skills but also on the collective psychology of market participants. Leveraging market sentiment can thus be effective. This article discusses forex market sentiment, unravelling its nuances, exploring key indicators and...
WTI Crude Oil Price Shows Bullish Trend Ahead of OPEC Meeting
As the chart indicates, on Monday, the price of WTI crude oil rose by approximately 1%.
Reuters reports that the bullish sentiment is driven by:
→ the upcoming OPEC+ meeting scheduled for 2 June;
→ expectations of high fuel demand with the start of the summer driving season and holiday season in the...
USD/JPY Analysis: The Market is Indecisive Near Its Peak Since May 1
As the USD/JPY chart shows today:
→ The price is in an upward trend (indicated by the blue channel) that has been relevant since the beginning of 2024.
→ On Thursday, May 23, the exchange rate nearly reached 157.2 yen per US dollar, surpassing the peak of May 14.
→ Following this, the market...
What Is Behavioural Finance?
Behavioural finance is a field that combines the principles of psychology and economics to understand how human behaviour affects financial decisions and markets. It recognises that people are not always rational, and their emotions, biases, and cognitive errors can influence their financial choices.
Behavioural finance is a growing...
Weekly Market Wrap With Gary Thomson: Nasdaq 100, NVIDIA, EUR/USD, Gold price
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.
Tech Stocks Back in Vogue as Nasdaq 100 Rallies to Record High
After...
Gold Price Drops Over 3.6% in 2 Days
The price of gold has fallen by more than 3.6% over 2 days, as indicated by today's XAU/USD chart. The day before yesterday, at the opening of the daily candle, the price of gold was $2421 per ounce, and yesterday at the close it was $2331.
This can be explained by market participants expecting higher Federal Reserve...
S&P 500 Analysis: Good News is Bad News
Yesterday, S&P Global reported its Purchasing Managers' Index (PMI) values for the US, which exceeded expectations. According to ForexFactory:
→ Manufacturing PMI: actual = 50.9; expected = 50.0; previous = 50.0.
→ Services PMI: actual = 54.8 (the highest value since May 2023); expected = 51.2; previous = 51.3.
However,...
Market Analysis: Crude Oil Price Signal Bearish Acceleration
Crude oil prices declined steadily below the $80.00 support and moved into a bearish zone.
Important Takeaways for Oil Prices Analysis Today
Crude oil prices extended downsides below the $78.00 support zone.
A major bearish trend line is forming with resistance near $78.00 on the hourly chart...
