Meta Platforms (META) Stock Price Nears $600 Milestone
As reported by Barron’s, October has historically been the second-best month for the information technology sector in the S&P 500. The sector typically gains an average of 2.7% in October, according to Dow Jones Market Data. The best month is November, with an average increase of 3.1%. This trend likely...
EUR/USD Analysis: The Exchange Rate Falls Below 1.100
As shown in today's EUR/USD chart, the euro has dropped below the 1.100 level against the US dollar. This decline is partly due to Friday's strong US jobs report, which revealed:
→ the largest job growth in six months,
→ a decrease in the unemployment rate,
→ solid wage growth.
These factors suggest a...
Oscillator Indicators for Experienced Traders (No RSI and MACD)
In the realm of technical trading, seasoned traders and beginners alike often turn to indicators to gauge market momentum and potential reversals. While many are familiar with popular tools like RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence), this article takes a...
Weekly Market Wrap With Gary Thomson: Brent Crude Oil, GBP/CAD, US Dollar, Lockheed Martin Stock
Welcome to the 100th edition of our Weekly Market Wrap video series!
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...
USD/JPY Analysis: Price Retreats from One-Month High
The USD/JPY chart shows that yesterday (3 October), the price slightly surpassed the 147.230 level, marking the highest point since 3 September.
This is significant as it indicates a new swing high, identified by the ZigZag indicator (in purple), which hasn’t been seen in months.
Bullish arguments for...
Boeing (BA) Shares Hover Near Two-Year Low
Despite the S&P 500 index (US SPX 500 mini on FXOpen) rising roughly 20% since the start of 2024, Boeing (BA) shares are currently around the psychological level of $150 – a low last seen in autumn 2022.
Several factors have driven bearish sentiment for Boeing in 2024:
→ Reputational setbacks due to technical issues,...
Market Analysis: EUR/GBP Consolidates Gains
EUR/GBP is rising and might climb above the 0.8435 resistance.
Important Takeaways for EUR/GBP Analysis Today
- EUR/GBP is gaining pace and trading above the 0.8400 zone.
- There was a break above a connecting bearish trend line with resistance at 0.8330 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis...
Market Analysis: GBP/USD Takes Hit
GBP/USD started a fresh decline from the 1.3425 resistance zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is showing bearish signs below the 1.3250 support.
- There is a key bearish trend line forming with resistance near 1.3170 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical...
Lockheed Martin (LMT) Stock Price Surpasses $600 for the First Time
As indicated by the Lockheed Martin (LMT) stock chart, after breaking through the psychological barrier of $600, the price has reached an all-time high. Remarkably, it took less than 2.5 months for the stock to climb from $500 to $600.
Demand for Lockheed Martin (LMT) shares is being driven by...
Creating a Balanced Investment Portfolio
In the vast realm of trading, where platforms like FXOpen play a pivotal role, strategy and skill stand paramount. As the age-old adage goes, 'Don't put all your eggs in one basket.' In the context of trading, this underscores the significance of diversification. Enter the concept of a balanced investment portfolio - an...
Analysis of GBP/CAD: Price Falls Below 1.800 Level
In the first nine months of 2024, the GBP/CAD exchange rate rose by over 7%, surpassing the significant 1.800 level.
The last time GBP/CAD remained consistently above this level was back in 2016, but it later dropped below. Since then, bulls have made two attempts to push the price above 1.800: in 2018 and...
XBR/USD Analysis: Brent Oil Price Soars After Attack on Israel
Following Israel's military operation in Lebanon, Iran launched a missile strike on Israel on October 1. Financial markets reacted sharply as soon as the first reports of the attack emerged:
→ U.S. stock indices dropped significantly, and Bitcoin also fell, with BTC/USD nearing the psychological...
Market Analysis: USD/JPY Eyes Fresh Increase
USD/JPY is rising and might gain pace above the 144.65 resistance.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 142.50 and 143.40 levels.
- There is a connecting bullish trend line forming with support at 143.45 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On...
Market Analysis: EUR/USD Trims Gains
EUR/USD declined from the 1.1200 resistance and corrected gains.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a fresh decline below the 1.1150 support zone.
- There is a connecting bearish trend line forming with resistance at 1.1070 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical...
The British Pound Is Stronger than the US Dollar: Understanding the Reasons
GBP/USD is the third most actively traded currency pair on the foreign exchange market, after EUR/USD and USD/JPY. It is also one of the oldest pairs traded on forex. The British pound continues to cost more than the US dollar, despite the dollar overtaking it as the global reserve...
EUR/USD Rate Accelerates Decline Following European Inflation News
According to the Eurostat data released today:
→ Core CPI Flash Estimate (YoY): actual = 2.7%, expected = 2.7%, previous = 2.8%;
→ CPI Flash Estimate (YoY): actual = 1.8%, expected = 1.8%, previous = 2.2%.
This news, coupled with yesterday’s statements from the Fed Chair, led to the EUR/USD rate...
XAG/USD Analysis: Silver Price Fails to Hold at 11-Year High
As shown on the XAG/USD chart, during the trading session on 26th September, the price of silver surpassed the previous 2024 high (set in July), reaching levels last seen in December 2012.
Key drivers of silver’s price include news related to the Federal Reserve’s policy:
→ Last month, when the...
Automated Trading vs Manual Trading
In the modern world of trading, two distinct methodologies exist: manual trading vs algorithmic trading. Both these approaches aim at the same goal - to optimise profit and minimise losses in the financial markets. However, they vary significantly in their operation, the level of involvement required, and the nature of...
