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...
What Is a Blue Chip Stock?
Investing and trading the stock market is like navigating a vast sea of options, each with its own set of risks and rewards. For those seeking stability, reliability, and the potential for long-term growth, blue chip stocks have long been a beacon of hope. But what exactly are they, and why do some traders avoid them? This FXOpen...
Market Analysis: NZD/USD Trims Gains
NZD/USD is trimming gains and struggling to stay above the 0.6000 pivot zone.
Important Takeaways for NZD/USD Analysis Today
- NZD/USD is declining from the 0.6080 resistance zone.
- There is a major bullish trend line forming with support at 0.6010 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis...
Market Analysis: AUD/USD Rallies
AUD/USD is consolidating gains near the 0.6620 zone.
Important Takeaways for AUD/USD Analysis Today
- The Aussie Dollar started a downside correction from 0.6640 against the US Dollar.
- There is a key bullish trend line forming with support at 0.6610 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis...
Alphabet Inc (GOOGL) Shares Under Pressure
On 24th July, we noted in our analysis of the Alphabet Inc (GOOGL) price chart:
→ The share price had fallen despite the report's results surpassing analysts' expectations;
→ The upward momentum in the price chart was losing strength.
Since that publication, the Alphabet Inc (GOOGL) share price has dropped by 5%. While...
NZD/USD Plunges Following RBNZ Decision
The exchange rate fell by 1.1% after the Reserve Bank of New Zealand cut interest rates by 25 basis points to 5.25% and signalled further easing.
According to RBNZ Governor Adrian Orr:
→ Inflation is returning to the target range, and the bank may begin normalising rates;
→ Several scenarios were considered, and consensus...
Global Economic News & Markets
In our interconnected world, it’s more important than ever to stay up to date with global economic news. The link between economic events and financial markets emphasises that traders need to be well-informed. This FXOpen article looks at the significance of global economic news and its impact on financial markets. Through expert...
Alibaba Group (BABA) Stock Reaches Over Two-Month High
As shown on the BABA stock chart, the price today has risen to around $80.80—its highest level this summer.
The primary driver of bullish sentiment is the anticipation of a positive earnings report from Alibaba Group Holding Ltd for Q2 2024, set to be released on 15th August.
According to Dow Jones...
Gold Price Near Historic High Today
As shown on the XAU/USD chart, the gold price is near $2,460 today, despite the 8th August candle opening around $2,385. This means that in just over three full trading sessions, the price per ounce has risen by approximately 3.3%. It is now only about 1.6% away from the psychological level of $2,500.
Bullish sentiment is...
Comparing Different Financial Markets
In trading, understanding the types of international financial markets is crucial. This article offers a comprehensive market comparison of the stock, forex, commodity, crypto* and bond arenas. You’ll learn the importance of these financial markets and what it takes to navigate each one effectively.
Stock Market
The stock...
USD/CHF Rises Over 2.5% in a Week
As indicated by the USD/CHF chart today, the rate is around 0.868 francs per US dollar, although it dropped below 0.85 last Monday.
The main driver of this surge in volatility (with the ATR indicator reaching its highest point since March 2023) was the decline in the Japanese stock market, which we covered twice last week: here...
NVDA Share Price Holds Above Psychological Level
On 10 July, we noted strong selling pressure above the $130 per share level. Since then, the price has dropped by approximately 22%. Losing more than a fifth of its market value seems like a serious issue, but it’s not as bad as it might appear, especially with emotions running high amid fears of a potential US...
Simple Trend Strategies
In trading, successfully navigating market trends can make all the difference. This article provides a deep dive into four simple yet effective strategies that show you how to trade with the trend. Regardless of your level of experience, these strategies offer actionable insights that can enhance your trading journey.
Understanding...
Market Analysis: USD/JPY Aims Fresh Increase
USD/JPY is rising and might take out the 147.80 resistance.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 144.15 and 145.55 levels.
- There is a connecting bullish trend line forming with support at 147.00 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the...
Market Analysis: EUR/USD Dips Again
EUR/USD declined from the 1.1000 resistance and corrected gains.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a fresh decline below the 1.0945 support zone.
- There is a connecting bearish trend line forming with resistance at 1.0920 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical...
Eli Lilly Shares Surge Over 9% After Strong Earnings Report
As the chart of Eli Lilly's (LLY) share price shows today, yesterday's trading closed at a level more than 9% higher than Wednesday's closing price. The main driver of this growth was a strong Q2 report:
→ Earnings per share: actual = $3.92, expected = $2.74;
→ Gross sales: actual = $11.3 billion,...
