Strong US Dollar Dominates Forex: For How Long?
According to ICE data, the price of the US Dollar Index futures contract has reached its highest level since May 2 of this year.
This strength is reflected in the exchange rates of major currencies against the US dollar:
→ The USD/JPY rate has reached a record high since 1986, which we reported yesterday. Today,...
Market Analysis: GBP/USD Turns Red
GBP/USD declined below the 1.2670 support zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound started a fresh decline from the 1.2700 resistance zone.
- There is a key bearish trend line forming with resistance at 1.2640 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On 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 1.3675 support zone.
- There is a major bullish trend line forming with support at 1.3705 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the...
Alternative Investment Options
Traders and investors are increasingly turning to alternative investment options to diversify their portfolios and seek new avenues for potential returns. In this FXOpen article, we discuss alternative investments, examining the types and explaining the reasons why they are gaining traction.
What Is an Alternative Investment?...
USD/JPY Rate Hits Highest Level Since 1986
As shown in the USD/JPY chart, today the rate is around 160.58 yen per US dollar.
Bloomberg reports the words of Japan’s Finance Minister Shunichi Suzuki:
→ It is desirable for the exchange rate to move in a stable manner.
→ Sudden, one-sided moves are not desirable.
→ We will analyze the background to this move with a...
AMZN Shares Set a New All-Time High
As shown in the AMZN chart, yesterday the share price confidently surpassed the psychological level of $190, closing above $193.41, which is a new all-time high.
Specifically:
→ the growth was approximately +3.9% for the day, with the closing candle at the upper part (a sign of strong demand);
→ Amazon's market capitalisation...
The Nikkei Index Has Risen to a 2-Month High
As we wrote on June 17th, analyzing the Nikkei 225 chart (Japan 225 on FXOpen):
→ the price formed a consolidation pattern (in the shape of a narrowing triangle);
→ the price formed a bullish reversal from the 38,000 points level (indicated by an arrow), suggesting potential growth and trend establishment upon pattern...
Is It Possible to Define the Probability of an Effective Trade?
Traders are constantly trying to figure out the secret of effective trading. However, the inherent unpredictability of markets minimises the ability to accurately determine the probability of an effective trade. This FXOpen article focuses on the many variables that contribute to the dynamism and...
Market Analysis: USD/CHF Rallies
USD/CHF climbed higher above 0.8900 and might extend gains in the near term.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF climbed higher above the 0.8900 and 0.8935 resistance levels.
- There is a connecting bullish trend line forming with support at 0.8930 on the hourly chart at FXOpen.
USD/CHF Technical...
Market Analysis: EUR/USD Struggles To Recover
EUR/USD is attempting a recovery wave from the 1.0675 zone.
Important Takeaways for EUR/USD Analysis Today
- The Euro declined toward 1.0675 before it started a recovery wave against the US Dollar.
- There is a key bullish trend line forming with support at 1.0710 on the hourly chart of EUR/USD at FXOpen.
EUR/USD...
AUD/USD Surges on Inflation News in Australia
This morning, the Consumer Price Index (CPI) figures for Australia were released – according to ForexFactory, the annual CPI stood at 4.0% (expected = 3.8%, previous = 3.6%).
As Bloomberg reports:
→ Rent was the main driver of inflation due to a housing shortage.
→ The spike in inflation increases the risk of an RBA...
USD/CAD Rate Reaches Significant Support Level
On June 12, we wrote about bearish signs observed on the USD/CAD chart, pointing to the prospect of USD weakening.
Since then, the USD/CAD rate has decreased by approximately 0.75% and has reached an important support level, specifically the lower boundary of the descending triangle (with the median around...
Nasdaq 100 Index Failed to Hold Above 20,000 Points
On 18th June, we reported that the Nasdaq 100 (US Tech 100 mini on FXOpen) market had recorded a historic high by surpassing the psychological level of 20,000.
At that time, we pointed to the upper line of the ascending channel (shown in green), which has been in place since 19th April, as a potential...
USD/JPY Analysis: Rate Rises Above 159.9 Yen per Dollar
The yen was last this weak against the US dollar in late April, leading to currency interventions as the Bank of Japan deemed a rate above the psychological mark of 160 yen per USD unacceptable.
The current weakness of the yen has triggered the usual warnings from Japanese officials against "excessive"...
S&P 500 Falls from Record High in Anticipation of Key News
On Friday, at 15:30 GMT+3, the Core PCE Price Index values will be released – an economic indicator to which the Federal Reserve pays special attention when assessing inflation levels in the US. This event is likely to cause a surge of news in the financial markets, and its anticipation will influence...
How Information Bias Can Affect Your Trading Decisions
Split-second trading decisions can make or break portfolios, and information plays a key role in this. Traders rely on vast amounts of data to make their choices, but what happens when that information becomes tainted by bias?
Information bias — the tendency to favour one piece of information over another...
Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, GBP, SNB Interest rate, Brent Crude Oil
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 Reaches 20,000 points for the First...
Natural Gas Price: Bullish Trend Weakens
Forecasts of a hotter summer, published during April and May, led to a sustained bullish trend in the natural gas market, as this commodity is heavily used for air conditioning.
Specifically:
→ The XNG/USD chart indicates that from 1st April to today, the price of natural gas has increased by more than 55%.
→ According...
