Weekly Market Wrap With Gary Thomson: S&P 500, USD/CAD, Gold Price, TSLA 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.
- S&P 500: Mid-Year Prospects Analysis
- USD/CAD Breaks Key Support
- Gold...
FTSE 100 Index Behaves Bullishly Amid Elections
On Friday, the FTSE 100 index rose by 0.4% to 8273 points, continuing its 0.9% rise on Thursday. According to Trading Economics, the centre-left Labour Party, as expected, won the parliamentary elections and secured a majority, ousting the Conservative Party after 14 years in power.
The Labour Party emphasised the...
GOOG Stock Sets Historic Record
As the chart shows, the GOOG stock price yesterday surpassed the June 27th high and set a historic record at $185.88.
What contributed to this?
→ Overall bullish sentiment in the US stock market. Incidentally, the S&P 500 index (US SPX 500 mini on FXOpen) also set a historic record yesterday;
→ Positive market expectations ahead...
Market Analysis: Oil Prices Soar, More Gains Ahead?
Crude oil prices are gaining bullish momentum and might soon test $85.00.
Important Takeaways for Oil Prices Analysis Today
- Crude oil prices extended gains above the $82.00 and $83.00 resistance levels.
- There is a key bullish trend line forming with support at $82.75 on the hourly chart of XTI/USD at...
Market Analysis: Gold Prices Soar, More Gains Ahead?
Gold price started a fresh increase above the $2,342 resistance level.
Important Takeaways for Gold Prices Analysis Today
- Gold price started a steady increase from the $2,320 zone against the US Dollar.
- A connecting bullish trend line is forming with support near $2,355 on the hourly chart of gold at...
Buy the Rumour, Sell the News: Trading Strategy in Forex and Crypto
Navigating the volatile terrain of forex and cryptocurrency markets demands a strategic edge, one that ‘buy the rumour, sell the news’ can offer. This method, rooted in market psychology, plays on the anticipatory reactions of traders to unconfirmed information about significant events.
In...
Market Analysis: NZD/USD Set for Steady Gains
NZD/USD is showing positive signs and might attempt a fresh increase above 0.6120.
Important Takeaways for NZD USD Analysis Today
- NZD/USD is gaining pace above the 0.6100 support zone.
- There is a major bullish trend line forming with support at 0.6100 on the hourly chart of NZD/USD at FXOpen.
NZD/USD...
Market Analysis: AUD/USD Set for Steady Gains
AUD/USD is correcting gains from the 0.6735 zone.
Important Takeaways for AUD USD Analysis Today
- The Aussie Dollar started a downside correction from 0.6735 against the US Dollar.
- There is a key bullish trend line forming with support at 0.6700 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical...
USD/CAD Breaks Key Support
On 25 June, we noted that the USD/CAD price had approached a crucial support level—the lower boundary of a converging triangle, which indicated a relative balance of supply and demand in the market during May.
Since then, the price has bounced twice from this level (as indicated by the arrow).
Today, as the USD/CAD chart shows, the...
S&P 500: Mid-Year Prospects Analysis
As shown by the daily chart of the S&P 500 (US SPX 500 mini on FXOpen):
→ Since the beginning of 2023, the price has been moving in an upward blue channel. To date, the increase has been over 42%;
→ Since the start of 2024, the price has formed a steeper upward channel (shown in orange). In the first half of the year, the...
Gold Price Prospects for H2
As shown by the daily XAU/USD chart:
→ Since November 2022, the price has been moving in an upward channel, marked in orange;
→ Since the start of 2024, the price has risen by approximately 12.5%.
What are the gold price forecasts for the end of 2024?
According to Investing.com, Georgette Boele, a senior sustainability...
What Is the VIX Index, and How Is It Used in Trading?
The VIX Index serves as a key indicator of expected market volatility over the next 30 days, derived directly from S&P 500 options. Developed by the Chicago Board Options Exchange in 1993, it offers a simple way to gauge volatility and potential stock market fluctuations. In this article, we’ll explore what...
TSLA Stock Price Hits Over 5-Month High
As today's TSLA chart shows, the stock price rose by approximately 6% during yesterday's trading, surpassing the $209 per share level. This marks the highest point since 24 January this year.
The price increase was driven by optimism related to the release of second-quarter car sales data. It is expected that Tesla might...
Silver Price Analysis: Awaiting Powell's Comments
Today, at 16:30 GMT+3, the Federal Reserve Chairman is scheduled to speak. Market participants are looking for more clarity on the Fed's plans regarding interest rate cuts following the release of inflation data last Friday.
According to Trading Economics, Fed officials have repeatedly called for caution before...
EUR/USD Rate Rises After First Round of Voting in France
According to Reuters, exit polls show that Marine Le Pen's far-right party, the National Rally (RN), won the first round of parliamentary elections in France on Sunday.
The financial market reacted to this with a rise in the euro's exchange rate against other currencies.
Specifically, the EUR/USD rate...
S&P 500 Analysis: Concerning Market Behaviour
On Friday, data was released showing that inflation in the US slowed down in May. According to ForexFactory, the actual monthly Core PCE Price Index was 0.1%, which matched the forecasts (last month’s PCE was 0.3%).
Reuters reports that:
→ Prices for recreational goods, as well as for vehicles, furniture, and...
What Is the 80-20 Rule (Pareto Principle) in Trading?
In trading, rules that could maximise efficiency are highly sought after. One such principle is the 80-20 rule, also known as the Pareto principle. This concept asserts that 80% of outcomes often stem from 20% of causes. In software development, 20% of the bugs cause 80% of the problems. In customer service,...
Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, EU Currencies, USD/JPY, AMZN Shares
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.
- Nasdaq 100 Index Failed to Hold above 20,000 Points
-...
