How to Trade with a Momentum Indicator
The momentum oscillator (MOM) is a vital instrument in the trader's toolkit. Designed to measure the velocity of asset price changes, it serves as a compass for traders, pointing them towards prevailing market trends. By analysing this indicator, traders can gain insights that allow them to seize budding opportunities in...
Coinbase (COIN) Shares Drop Below $200
Yesterday, shares of cryptocurrency exchange Coinbase (COIN) underperformed the broader market, falling by approximately 5%.
This decline is part of a worrying trend. While the S&P 500 (US SPX 500 mini on FXOpen) set records in mid-summer, Coinbase (COIN) struggled to surpass its March high. It seems the positive impact of...
USD/CAD Drops to 1.3600 Support Level
The USD/CAD chart shows the Canadian dollar strengthening against the USD to levels last seen at the end of July.
On one hand, the US dollar is weakened by expectations of an inevitable rate cut. On the other, the Canadian dollar gained strength after yesterday’s inflation data:
→ Although the initial reaction pushed...
Market Analysis: USD/CHF Struggles
USD/CHF declined and now struggling below the 0.8600 resistance.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF declined below the 0.8635 and 0.8600 support levels.
- There is a major bearish trend line forming with resistance near 0.8575 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly...
Market Analysis: EUR/USD Regains Strength
EUR/USD started a fresh increase above the 1.1000 resistance.
Important Takeaways for EUR/USD Analysis Today
- The Euro surged after it broke the 1.0950 resistance against the US Dollar.
- There is a connecting bullish trend line forming with support near 1.1090 on the hourly chart of EUR/USD at FXOpen.
EUR/USD...
9 Common Misconceptions About Forex
Forex is a dynamic and complex financial market that is of great interest to investors and traders all over the world. Still, like any other industry, it’s not immune to misconceptions and myths. This FXOpen article looks into the origins of these myths and examines nine of the most common misconceptions about forex trading....
Brent Oil Price Drops Over 3.5% in Two Days
As indicated by the XBR/USD chart, the price per barrel opened at $80.28 on Friday and closed at $77.27 on Monday. Moreover, early Tuesday trading also shows a downward trend.
Bearish sentiment in the market is being influenced by geopolitical factors, particularly the easing of tensions in the Middle East. According...
AMD Shares Soared After News of a Server Manufacturer Acquisition
Yesterday, it was announced that Analog Micro Devices (AMD) intends to acquire ZT Systems, a manufacturer of equipment for data centres, cloud computing, and artificial intelligence. The market responded positively, with investors believing this move could help AMD reduce Nvidia's substantial...
How to Trade with the Choppiness Index
The Choppiness Index is a valuable tool in the world of trading, particularly for experienced traders involved in analysing market trends and making informed trading decisions. Developed by Australian commodity trader E.W. Dreiss, this indicator is designed to measure price volatility or directionless behaviour. The...
Netflix (NFLX) Shares Reach a Two-Month High
As shown on the daily chart of Netflix (NFLX) shares, the price surpassed the July 19 peak around $677 on Friday but closed well below the day’s highs. Notably:
→ Since August 5, Netflix (NFLX) has outperformed stock indices;
→ The stock has risen by about 15% from the August 5 close.
Will the rally continue?
...
Gold Price Surpasses $2500 for the First Time
We noted bullish sentiment in the gold market six days ago:
→ The price is moving within an ascending channel (shown in blue);
→ Bulls may attempt to set a historic record amid the release of economic news.
As today's XAU/USD chart shows, the gold price has risen above the psychological level of $2500. This was...
Best Currency Pairs to Trade at Night
In forex trading, time is of great importance. The forex market operates 24/5, and it is divided into different trading sessions, including Asian, European, and North American. Each session has its own unique characteristics, and their overlap can impact activity and volatility.
Night trading presents both opportunities and...
TSLA Stock Price Rises by Over 6%
The Tesla (TSLA) stock chart today shows that the price surged by more than 6% during yesterday’s trading session, driven by a strong retail sales report released the same day.
According to ForexFactory, analysts had expected Retail Sales to increase by 0.4% month-on-month. However, the actual data showed a 1.0% rise (for...
USD/JPY Analysis: Rate Surpasses 149 Yen Per Dollar
As the USD/JPY chart indicates, the rate has risen approximately 5.4% above the August 5 low.
On one hand, the yen's weakening against the U.S. dollar is partly driven by rumours that the Bank of Japan might intervene not to support the weak yen (as when the rate was above 160) but to weaken it further....
Market Analysis: Oil Prices Aim For Further Gains
Crude oil prices are gaining bullish momentum and might even test $80.00.
Important Takeaways for Oil Price Analysis Today
- Crude oil prices extended gains above the $75.70 and $76.40 resistance levels.
- There is a connecting bearish trend line forming with resistance at $77.10 on the hourly chart of...
Market Analysis: Gold Prices Aim For Further Gains
Gold price started a fresh increase above the $2,432 resistance level.
Important Takeaways for Gold Price Analysis Today
- Gold price started a steady increase from the $2,400 zone against the US Dollar.
- A connecting bearish trend line is forming with resistance at $2,460 on the hourly chart of gold at...
GBP/USD Analysis: Rate Steady After Key Data Releases
Yesterday, important U.S. inflation data was released, as reported by ForexFactory:
→ Core CPI (MoM): actual = 0.2%, forecast = 0.2%; previous = 0.1%;
→ CPI (YoY): actual = 2.9%, forecast = 3.0%; previous = 3.0%.
Today, market participants learned about the change in the UK’s monthly GDP: actual = 0.0%,...
Apple Inc. (AAPL) Forms 9 Consecutive Bullish Candles on Daily Chart
If we define bullish candles as those where the closing price is higher than the opening price, we can observe a sequence of 9 such candles on Apple Inc.'s (AAPL) daily chart from August 2nd to 14th.
On August 6th, we mentioned that market participants were bearish due to news that Warren...
