Market Analysis: EUR/GBP Struggles
EUR/GBP declined steadily below the 0.8565 and 0.8550 support levels.
Important Takeaways for EUR/GBP Analysis Today
EUR/GBP is trading in a bearish zone below the 0.8565 pivot level.
There is a connecting bearish trend line forming with resistance near 0.8540 on the hourly chart at FXOpen.
EUR/GBP Technical...
Market Analysis: GBP/USD Climbs Steadily
GBP/USD is gaining pace above the 1.2640 resistance.
Important Takeaways for GBP/USD Analysis Today
The British Pound is attempting a fresh increase above 1.2700.
There is a key bullish trend line forming with support near 1.2690 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the...
What Does FOMO Mean in Trading?
FOMO, or the fear of missing out, is a common emotion that traders experience. It is more than just an internet slang term. This powerful phenomenon can have a negative impact on trading decisions, leading to impulsive actions and poor risk management. This FXOpen article explores the psychology of FOMO, discusses how to identify...
Gold Price Reaches Historic High
According to confirmed information, Iranian President Ebrahim Raisi, considered a potential successor to the country's supreme leader, Ayatollah Ali Khamenei, died in a helicopter crash in a mountainous area near the border with Azerbaijan. The helicopter also carried Foreign Minister Hossein Amir-Abdollahian and other officials,...
Coinbase (COIN) Stock Price Holds at Key Support Level
On Thursday, stock market traders were concerned about the sharp drop in Coinbase shares, listed on the Nasdaq, which fell by 9%. This was triggered by rumours that the Chicago-based CME Group is planning to launch cryptocurrency trading, posing a challenge to Coinbase, currently the leading cryptocurrency...
Candlestick Wick Meaning and Trading Strategies
Understanding the subtle cues provided by candle wicks can unlock new dimensions in trading strategy development. These seemingly minor details offer profound insights into market sentiment and price action dynamics. This article delves into the meaning behind candle wicks and explores strategic ways to trade them,...
Weekly Market Wrap With Gary Thomson: S&P500, US Dollar, Gold Price, PEP Stocks
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.
The S&P500 Has Reached a Significant Resistance Level
US Dollar...
The Price of Silver Has Reached Its Highest Level in Over Three Years
As indicated by the XAG/USD chart today, the intraday price of silver reached $29.84 per ounce yesterday, while the previous yearly high on 12 April was $29.79. The last time this price was seen was in February 2021.
It is worth noting that today the price of silver is behaving more bullishly...
The Share Price of Alibaba (BABA) Has Reached Its Yearly High
On 14 May, Alibaba released its first-quarter performance report:
→ Earnings per share: actual = $1.404, expected = $1.421;
→ Gross income: actual = $30.716 billion, expected = $30.502 billion.
The fact that earnings per share were slightly below expectations did not disappoint investors much, as on...
Market Analysis: NZD/USD Set Sights on Additional Upside
NZD/USD is also rising and could aim for a move above the 0.6140 resistance.
Important Takeaways for NZD/USD Analysis Today
NZD/USD is consolidating gains above the 0.6100 support.
There is a key bullish trend line forming with support at 0.6100 on the hourly chart of NZD/USD at FXOpen.
...
Market Analysis: AUD/USD Set Sights on Additional Upside
AUD/USD started a decent increase above the 0.6655 resistance.
Important Takeaways for AUD/USD Analysis Today
The Aussie Dollar found support at 0.6585 and recovered higher against the US Dollar.
There is a major bullish trend line forming with support at 0.6670 on the hourly chart of AUD/USD at...
Three of the Best MACD Trading Strategies
The Moving Average Convergence Divergence (MACD) is more than just a mouthful—it's a versatile trading indicator that has stood the test of time. This article unpacks the intricacies of this indicator and dives deep into three specific strategies that leverage the MACD with other powerful tools like the Stochastic...
The US Dollar Is Weakening Following Inflation Data
Yesterday saw the release of key economic indicators for the US. According to ForexFactory:
→ Core Price Index (CPI) monthly: actual = 0.3%, expected = 0.4%, previous = 0.4%;
→ Core Price Index (CPI) annual: actual = 3.4%, expected = 3.4%, previous = 3.5%;
→ Retail Sales monthly: actual = 0.0%, expected =...
The Stock Price of Pepsico (PEP) Is Retracting from Its Yearly High
On April 23, the quarterly report of PepsiCo's performance for the first quarter was published, which was awaited anxiously.
The issue stemmed from the fact that in December 2023, the U.S. Food and Drug Administration (FDA) announced the recall of over 40 Quaker Oats products – a company owned...
The S&P 500 Index Has Reached a Significant Resistance Level
Analyzing the S&P 500 chart (US SPX 500 mini on FXOpen) on April 26, we wrote about how the April decline could be a correction to the lower boundary of the channel within the 2024 rally. Following this, a logical development would be for the bulls to attempt to resume the upward trend and make another...
Market Analysis: USD/JPY Gains Bullish Traction
USD/JPY trimmed almost all losses and showing positive signs above 156.20.
Important Takeaways for USD/JPY Analysis Today
USD/JPY climbed higher above the 155.95 and 156.50 levels.
There is a connecting bullish trend line forming with support near 156.20 on the hourly chart at FXOpen.
USD/JPY Technical...
Market Analysis: EUR/USD Sees Green
EUR/USD is slowly gaining traction above the 1.0800 level.
Important Takeaways for EUR/USD Analysis Today
The Euro started a decent increase above the 1.0750 pivot level.
There is a key bullish trend line forming with support near 1.0800 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the...
How Do Grid Trading Strategies Work?
Grid trading stands as a distinctive strategy within the trading realm, offering a structured approach to navigating market volatility. By strategically placing buy and sell orders at predefined intervals, this method eschews the need to determine the market direction, instead harnessing the inherent fluctuations of the...
