Microsoft (MSFT) Shares Decline Despite Strong Earnings Report
On 9 October, our analysis of Microsoft (MSFT) suggested that the stock price:
→ Was forming an ascending channel (shown in blue on the chart);
→ Could see a rebound from its lower boundary (indicated by an arrow).
Since then, the price indeed moved upward from this support around the $411 level,...
What Is a Parabolic Arc Pattern, and How Can You Trade It?
The parabolic arc pattern is a significant formation in technical analysis, showcasing rapid, exponential price movements that signal significant bullish momentum followed by sharp reversals. This article delves into identifying, trading, and managing the risks associated with parabolic arcs.
...
Technical Analysis of USD/CHF: Rate Reaches Key Resistance Level
As seen on the USD/CHF chart, the pair has been moving within a descending channel (highlighted in red) since May.
In September, price action confirmed that the 0.84000 level, near the lower channel boundary, serves as strong support—after several unsuccessful attempts to break below it, the...
Alphabet Inc. (GOOGL) Shares Rise to $180 Following Earnings Report
On September 10, we noted that GOOGL shares:
→ Were forming an ascending channel (highlighted in blue on the chart below, updated with the latest trading data);
→ Could begin to rebound from the psychological support level of $150 (indicated by an arrow).
Since then, the price did indeed turn...
Market Analysis: EUR/GBP Struggles
EUR/GBP declined steadily below the 0.8330 and 0.8325 support levels.
Important Takeaways for EUR/GBP Analysis Today
- EUR/GBP is trading in a bearish zone below the 0.8350 pivot level.
- There is a connecting bearish trend line forming with resistance near 0.8330 on the hourly chart at FXOpen.
EUR/GBP Technical...
Market Analysis: GBP/USD Recovers
GBP/USD is attempting a recovery wave above the 1.2950 resistance.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is attempting a fresh increase above 1.2950.
- There is a key rising channel forming with support near 1.2980 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the...
What Is a Petrodollar and How Does It Affect the Global Economy?
The concept of petrodollars is an insightful topic to study. The petrodollar isn’t a specific currency but a financial system that reflects economic and political forces that have shaped international relations for decades. This concept is critical to understanding global trade dynamics and...
Nasdaq 100 Consolidates Ahead of Major Market Leader Earnings Reports
This week, five companies with market capitalisations exceeding $1 trillion are set to release their quarterly earnings:
→ Alphabet (GOOGL) on October 29
→ Microsoft (MSFT) on October 30
→ Meta Platforms (META) on October 30
→ Apple (AAPL) on October 31
→ Amazon (AMZN) on October 31
These...
McDonald's (MCD) Stock Trades Below $300 Ahead of Earnings Report
The $300 level has proven psychologically significant for McDonald’s (MCD) stock:
→ In summer 2023, bullish investors failed to push the price above this mark, leading to a decline from $298 in July to $246 by October.
→ Again, in January 2024, the price briefly surpassed $300 but quickly...
MA Trading Strategies for Experienced Traders
Despite their simplicity, moving average (MA) trading strategies remain popular with experienced traders looking to refine their market analysis. This article delves into various MA types and four advanced MA strategies, including moving average ribbons, envelopes, and channels, providing actionable insights to...
USD/JPY Chart Analysis: Rate Hits Autumn High
Today’s USD/JPY chart indicates that the U.S. dollar has strengthened against the yen by over 6.6% since the beginning of the month. Starting this trading week, the rate has surpassed 153 yen per dollar, a level not seen since August 31.
This bullish sentiment towards the dollar has been driven by the outcome of...
Market Analysis: USD/JPY Remains In Strong Uptrend
USD/JPY is rising and might gain pace above the 153.85 resistance.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 150.50 and 152.20 levels.
- There was a break above a key contracting triangle with resistance at 152.00 on the hourly chart at FXOpen.
USD/JPY Technical...
Market Analysis: EUR/USD Dives
EUR/USD declined from the 1.0880 resistance and corrected gains.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a fresh decline below the 1.0850 support zone.
- There was a break below a connecting bullish trend line with support at 1.0805 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical...
A Bearish Gap on the Brent Crude Oil Chart
As the XBR/USD chart shows, Brent crude oil prices formed a gap at the start of this week: while Friday’s session closed at 75.60, Monday’s opening price dropped below 72.60.
According to Reuters, this development is tied to the fact that Israel’s recent missile strike on Iran did not impact oil or nuclear facilities,...
What Is a Falling Knife in Trading?
It’s often repeated that traders should ‘never catch a falling knife.’ This phrase highlights the risks of buying into a rapidly declining asset. Understanding what a falling knife is, its causes, and strategies for trading it may help traders navigate these sharp declines more effectively. This article delves into the...
DAX 40 Loses Upward Momentum
Today, Germany's PMI data was released, according to Forex Factory:
→ German Flash Manufacturing PMI: actual = 42.6, expected = 40.7, previous = 40.6;
→ German Flash Services PMI: actual = 51.4, expected = 50.6, previous = 50.6.
The DAX 40 index (Germany 40 mini on FXOpen) showed a slight intraday increase, which could be viewed...
Tesla (TSLA) Shares Surge by 11%
As shown by Tesla's stock chart, trading closed below $213.50 yesterday. However, following the main trading session, the company reported its third-quarter earnings:
→ Earnings per share (EPS): actual = $0.72, expected = $0.59
→ Gross revenue: actual = $25.46 billion, expected = $25.18 billion
Additionally, Tesla forecasted a...
