Market Analysis: EUR/GBP Poised For More Losses
EUR/GBP is declining and trading below the 0.8410 support level.
Important Takeaways for EUR/GBP Analysis Today
- EUR/GBP is declining and showing bearish signs below 0.8460.
- There is a major declining channel forming with support at 0.8410 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On...
Market Analysis: GBP/USD Poised For More Losses
GBP/USD failed to climb above 1.2860 and trimmed all gains.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is showing bearish signs below 1.2800.
- There is a key bearish trend line forming with resistance near 1.2765 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
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Forex Market Liquidity: Analysis and Implications for Traders
The foreign exchange market is renowned for its dynamic and fast-paced nature. As traders navigate this landscape, understanding the concept of liquidity becomes crucial. In this article, we analyse its components, explore factors that influence it, measure and analyse its impact, discuss potential...
S&P 500 Index Hits Record After Major News
Yesterday, significant news regarding US inflation was released. According to ForexFactory:
→ Year-on-year Consumer Price Index (CPI): actual = 3.3%, forecast = 3.4%, previous = 3.4%;
→ Month-on-month CPI: actual = 0.0%, forecast = 0.1%, previous = 0.3%;
→ Month-on-month Core CPI (excluding food and energy): actual =...
USD/CAD Retracts from Nearly 2-Month High
Yesterday, the USD/CAD exchange rate climbed above 1.3785 for the first time since mid-April.
However, today's USD/CAD chart shows that it failed to consolidate at this peak and has dropped to a weekly low.
These fluctuations might be interpreted as traders positioning themselves ahead of today's critical events....
FTSE 100 Index Declines After Labour Market News
The British stock index FTSE 100 (UK 100 on FXOpen) dropped nearly 1% yesterday due to the release of economic data indicating a rise in unemployment.
According to ForexFactory:
→ The Claimant Count Change (number of unemployment benefit claims) was 50,000 (expected = 10.2k, previous month = 8.4k). This is the...
Market Analysis: USD/JPY Continues To Rise
USD/JPY is rising and might take out the 157.40 resistance.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 155.25 and 156.25 levels.
- There is a connecting bullish trend line forming with support at 156.85 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly...
Market Analysis: EUR/USD Dives
EUR/USD gained bearish momentum below the 1.0810 support.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a fresh decline below the 1.0810 support zone.
- There is a connecting bearish trend line forming with resistance at 1.0760 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the...
How Do Dovish and Hawkish Monetary Policies Affect Markets?
In the intricate dance of global finance, central banks play a leading role, their policies echoing through markets and economies. The terms "dovish" and "hawkish" encapsulate their strategies towards interest rates and money supply, each with profound implications for currency values and investor...
AAPL Shares Drop Following the Apple Intelligence Presentation
Yesterday, 10 June, at the WWDC2024 conference, the American corporation Apple unveiled its new artificial intelligence system, Apple Intelligence (AI).
Apple Intelligence will allow users to enhance their text and communicate more effectively: rewriting, proofreading, and summarising text almost...
Goldman Sachs Predicts a Rise in Brent Crude Oil Prices
According to CNBC, Goldman Sachs analysts believe that Brent crude oil prices should increase in the third quarter due to summer fuel demand leading to a “significant” deficit—approximately 1.3 million barrels per day. They forecast that the price of Brent could rise to $86 per barrel with a “ceiling”...
Gold Price Drops After US Employment Report
As per ForexFactory, the Non-Farm Employment Change report revealed an actual increase of 272 thousand jobs (expected = 182k, previous value = 165k).
A robust job market provides further arguments for the Federal Reserve to continue its tight monetary policy. Consequently, the news led to a rise in the dollar index...
EUR/GBP Rate at 21-Month Low Post-European Parliament Elections
Investors will begin the week in a state of uncertainty regarding the outlook of Europe's political landscape.
The four-day European Parliament elections concluded on Sunday. According to Reuters, the results showed a significant gain for eurosceptic-nationalists, who have displaced liberals and...
Trend Reversals and the Sushi Roll Reversal Pattern
Understanding trend reversals is essential for optimising trading and managing risks. This article delves into the concept of trend reversals, with a focus on the Sushi Roll reversal pattern—a sophisticated tool that helps traders anticipate significant market shifts—exploring its formation, context, and...
Weekly Market Wrap With Gary Thomson: S&P 500, US Dollar, Gold and Silver, MSFT 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.
- S&P 500 Index: Latest Analysts’ Forecasts
- The Dollar Continues...
EUR/USD Analysis: ECB Cuts Interest Rate for First Time Since 2019
By its decision, the ECB followed the example of the Bank of Canada, which lowered interest rates by 0.25%, as we reported yesterday. Consequently, this trend might continue with the Federal Reserve, marking the development of easing monetary policy cycles in Western economies.
According to...
Market Analysis: Crude Oil Price Rises
Crude oil is recovering and might rise toward the $78.40 resistance zone.
Important Takeaways for Oil Prices Analysis Today
- Crude oil is recovering losses and trading above the $74.30 support.
- There was a break above a connecting bearish trend line with resistance near $73.50 on the hourly chart of XTI/USD at...
Market Analysis: Gold Price Gains Traction
Gold price started a fresh increase above $2,350.
Important Takeaways for Gold Prices Analysis Today
- Gold price started a decent increase from the $2,315 zone against the US Dollar.
- A major bullish trend line is forming with support at $2,368 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis...
