Watch FXOpen's January 9 - 13 Weekly Market Wrap Video
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
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Gold price is gaining pace above the $1,870 level. Crude oil price is also rising and might clear the $80 resistance zone in the near term.
Important Takeaways for Gold and Oil
· Gold price started a strong increase and tested $1,900 against the US Dollar.
· There is a key bullish trend line forming with support near $1,885 on the hourly chart of gold.
·...
ETHUSD: Bullish Harami Pattern Above $1237
Ethereum was unable to sustain its bearish momentum and after touching a low of 1237 on 06th Jan, the price started to correct upwards against the US dollar crossing the $1400 handle today in the European trading session.
The prices are ranging near a new record high of 1 month.
We have seen a bullish opening in the...
Today, London's stock market is experiencing a bonanza, as the FTSE 100, which is the index that includes the 100 most prestigious and well capitalized blue-chip companies which are listed on the London Stock Exchange, has rocketed to an astronomic 7,741 points.
This represents the highest level that it has reached in over one year, by quite some margin.
In...
EUR/USD is eyeing an upside break above the 1.0750 resistance zone. EUR/JPY is rising and might climb further higher above the 142.50 resistance.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a fresh increase above the 1.0650 resistance zone.
· There is a key contracting triangle forming with resistance near 1.0745 on the hourly chart.
·...
BTCUSD: Three Inside UP Pattern Above $16608
Bitcoin was unable to sustain its bearish momentum and after touching a low of $16608 on 03rd Jan, the price started to correct upwards against the US dollar and is ranging above the $17200 handle in the European trading session today.
We have seen a bullish opening of the markets this week.
We can clearly see a...
GBP/USD is gaining pace above the 1.2100 zone. GBP/JPY is also rising and might gain pace if it clears the 160.20 resistance zone.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound is showing positive signs above 1.2000 against the US Dollar.
· There was a break above a major bearish trend line with resistance near 1.2065 on the hourly chart of...
AUD/USD started a decent increase in Oct 2022 and climbed above 0.6500. Similarly, NZD/USD was able to clear the 0.6000 resistance zone.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar gained pace above the 0.6400 and 0.6500 levels against the US Dollar.
· There is a crucial bearish trend line forming with resistance near 0.6840 on the daily...
ETHUSD: Bullish Engulfing Pattern Above $1181
Ethereum was unable to sustain its bearish momentum and after touching a low of 1181 on 30th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle today in the European trading session.
We can see the formation of bullish engulfing lines in the...
If the year 2022 can be remembered for any recurring feature in terms of demand for commonly traded commodities, it can be remembered as a year of high energy prices across many Western countries, with oil being one of the most prized consumable commodities of the year.
In the summer of 2022, Fuel stations across Europe and the United Kingdom were charging in...
EUR/USD gained pace above the 1.0200 resistance zone. USD/CHF is declining and remains at a risk of more losses below the 0.9200 support.
Important Takeaways for EUR/USD and USD/CHF
· The Euro started a fresh increase above the 1.0200 resistance against the US Dollar.
· There was a break above a major bearish trend line with resistance near 0.9880 on the daily...
Today represents the very first full working day of 2023 across many markets in the Western World, and already the currency markets have got off to a dramatic start.
The British Pound, which made a rebound at the end of last year from its months-long decline in value, has once again taken a dive.
As the markets opened this morning, the British Pound dropped in...
BTCUSD: Bullish Engulfing Pattern Above $16372
Bitcoin was unable to sustain its bearish momentum and after touching a low of $16372 on 30th Dec, the prices started to correct upwards against the US dollar and are now ranging above the $16600 handle in the European trading session today.
The price of bitcoin is ranging near the support of the channel in the...
GBP/USD started a downside correction from 1.2450. USD/CAD is signaling a fresh decline towards the 1.3300 and 1.3200 support levels.
Important Takeaways for GBP/USD and USD/CAD
· The British Pound struggled to clear the 1.2420 and 1.2450 resistance levels.
· Earlier, there was a break above a major bearish trend line with resistance near 1.1700 on the daily...
Gold price is showing positive signs above the $1,800 level. Crude oil price is struggling below $80 and might resume its decline.
Important Takeaways for Gold and Oil
· Gold price faced resistance near $1,832 and corrected lower against the US Dollar.
· There is a key bullish trend line forming with support near $1,808 on the hourly chart of gold.
· Crude...
ETHUSD: Double Bottom Pattern Above $1183
Ethereum was unable to sustain its bearish momentum and after touching a low of 1185 on 22nd Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle on 27th Dec.
The prices are ranging near the support of the channel in the 15-minute time frame...
EUR/USD is stable above the 1.0600 support zone. USD/JPY could gain bullish momentum if there is a clear move above the 135.00 resistance.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a downside correction from the 1.0670 resistance zone.
· There is a key bullish trend line forming with support near 1.0635 on the hourly chart of EUR/USD.
·...
BTCUSD: Three White Soldiers Pattern Above $16323
Bitcoin was unable to sustain its bearish momentum and after touching a low of $16387 on 20th Dec, the prices started to correct upwards against the US dollar and are now ranging above the $16500 handle in the European trading session.
We have seen a bullish opening of the markets this week.
We can clearly see...
