Analysis of USD/JPY: Yen Strengthens by 5.5% Against US Dollar in 2 Weeks
On Thursday, 11 July, the USD/JPY exchange rate was above 161, and today it is below 153.
According to Reuters, this could be attributed to effective intervention by the Bank of Japan.
While intervention was anticipated when the yen weakened to extreme levels not seen since 1983, Tokyo...
Nasdaq Composite: Worst Session Since Late 2022
As indicated by the Nasdaq Composite chart (US Tech 100 mini on FXOpen), yesterday's decline was -2.62% in a single session.
Thus, tech stocks experienced the sharpest drop since late 2022, with around 75% of companies in the Nasdaq Composite index closing in the red.
Alphabet (GOOG) shares, the parent company of...
GOOGL Shares Decline After Report
Yesterday, Alphabet released its Q2 report:
→ Earnings per share: actual = $1.89, forecast = $1.847;
→ Gross revenue: actual = $84.742 billion, forecast = $84.208 billion.
The actual figures exceeded analysts' expectations. However, today in pre-market trading, GOOGL's price fluctuates around $178.60 per share, down from...
Brent Crude Oil Price Is Declining Amid De-Escalation in the Middle East
On 8th July, we noted that oil prices were forming a large narrowing triangle, originating from 2022-2023, with its upper boundary being a significant resistance point.
As shown on the Brent oil price chart (XBR/USD), bulls have since failed to overcome the upper boundary resistance around...
Market Analysis: USD/CHF Regains Strength
USD/CHF is rising and might aim a move toward the 0.9000 resistance.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF is showing positive signs above the 0.8900 resistance zone.
- There is a major bullish trend line forming with support at 0.8910 on the hourly chart at FXOpen.
USD/CHF Technical Analysis...
Market Analysis: EUR/USD Trims Gains
EUR/USD started a fresh decline below the 1.0900 support.
Important Takeaways for EUR/USD Analysis Today
- The Euro struggled to clear the 1.0950 resistance and declined against the US Dollar.
- There is a key bearish trend line forming with resistance at 1.0870 on the hourly chart of EUR/USD at FXOpen.
EUR/USD...
Best Parabolic SAR Indicator Settings
Parabolic SAR is a key component of technical trading, or technical analysis, which involves assessing financial markets and guiding trading decisions through analysing historical price and volume data, along with utilising diverse technical indicators and chart patterns. This article aims to explore the significance of the...
Tesla Report May Strengthen Bullish Sentiment
President Joe Biden withdrew his bid for a second term in the White House on Sunday. It's reasonable to assume that the stock market responded optimistically to this news, as US stocks closed higher on Monday, with the S&P 500 (US SPX 500 mini on FXOpen) rising by 1.08% to 5,564.41 – its best day since 5th June. CNN...
Analysis of XAU/USD: Gold Price Falls for 4 Consecutive Days
As shown on the XAU/USD chart, Monday, 22 July marked the fourth consecutive day of declining gold prices. The change from the historical peak reached on Wednesday is around -3.5%.
Bearish sentiment is driven by:
→ Market participants' assessment of prospects due to the change of the Democratic...
How Did MSFT Stock Price React To Global Outage?
On 19th July, a global outage occurred. Numerous computers running Windows worldwide experienced "blue screens of death" (BSOD), affecting companies in different sectors, including airlines, hospitals, media, banks, and others.
The outage was caused by a CrowdStrike's Falcon Sensor update, a component of the...
Market Analysis: USD/CAD Rallies
USD/CAD is rising and might aim for more gains above the 1.3735 resistance.
Important Takeaways for USD/CAD Analysis Today
- USD/CAD is showing positive signs above the 1.3700 support zone.
- There is a major bullish trend line forming with support at 1.3720 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
...
Market Analysis: GBP/USD Trims Gains
GBP/USD started a pullback from the 1.3050 zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound started a downside correction from the 1.3050 resistance zone.
- There is a key bearish trend line forming with resistance at 1.2940 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
...
Top 7 Books to Learn Advanced Technical Analysis for Stocks
Mastery of advanced technical analysis is one of the factors that separates casual traders from experienced ones. Financial markets are not simple, so it’s important to understand the subtleties of price movements and chart patterns.
This FXOpen article is best suited for experienced traders who...
Weekly Market Wrap With Gary Thomson: US Banks Turn Bullish, GBP/USD, Gold Price, NVDA Stock
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 insights.
- US Banks Set a Bullish Tone at the Start of Earnings...
USD/CAD Exchange Rate Approaches Key Resistance
As the USD/CAD chart shows, the Canadian dollar has weakened against the US dollar over the week – today, the USD/CAD rate is near two-week highs.
According to Reuters, this has been influenced by:
→ the strengthening of the USD against other currencies;
→ the anticipation of retail sales data, which could...
META Price Is Holding Around a Key Support Level. But for How Long?
According to TipRanks, the average target price for META, as forecasted by Wall Street analysts, is $537.41 (a 12.94% increase from current levels) over the next 12 months. However, not all analysts remain positive.
Craig Johnson, Chief Market Technician at Piper Sandler, issued a warning about...
Market Analysis: Crude Oil Price Correct Recent Gains
Crude oil prices are also moving lower from the $82.20 resistance zone.
Important Takeaways for Oil Prices Analysis Today
- Crude oil prices extended downsides below the $81.30 support zone.
- A major contracting triangle is forming with resistance near $80.70 on the hourly chart of XTI/USD at FXOpen.
...
Market Analysis: Gold Price Correct Recent Gains
Gold price started a downside correction from $2,485.
Important Takeaways for Gold Prices Analysis Today
- Gold price climbed higher toward the $2,485 zone before there was a pullback against the US Dollar.
- A key bearish trend line is forming with resistance near $2,450 on the hourly chart of gold at...
