Analysis of XAU/USD: Gold Price Holds Near Key Resistance
As shown on the XAU/USD chart today, the price of gold is:
→ above the psychological level of $2,500 per ounce;
→ near a key resistance marked by a red line labelled Support 2. This line has been preventing further price growth several times since 20 August, when the all-time high was reached.
If the...
Market Analysis: EUR/GBP Eyes Gains
EUR/GBP is gaining pace and might extend its upward move above the 0.8440 zone.
Important Takeaways for EUR/GBP Analysis Today
- EUR/GBP started a fresh increase above the 0.8420 resistance zone.
- There is a major rising channel forming with support near 0.8425 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis...
Market Analysis: GBP/USD Recovers
GBP/USD is attempting a fresh increase from the 1.3090 zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is attempting a recovery above the 1.3130 zone against the US Dollar.
- There was a break above a key bearish trend line with resistance at 1.3120 on the hourly chart of GBP/USD at FXOpen.
...
Analysis of USD/CAD: Bank of Canada Cuts Interest Rate
Yesterday, the Bank of Canada reduced its key interest rate by 25 basis points to 4.25%. Its governor, Tiff Macklem, cited weak economic growth and suggested that a more substantial rate cut could be considered in the future.
While the rate cut was widely expected, the currency market reacted with a surge...
Canopy Growth Corp (CGC) Shares Drop Below $5
As the chart indicates, Canopy Growth Corporation (CGC) shares closed below $5 yesterday for the first time since late March 2024.
In the spring, the stock price of the cannabis production and distribution company surged amid expectations that the US Drug Enforcement Administration (DEA) might downgrade marijuana...
Market Analysis: USD/JPY Trims Gains
USD/JPY is correcting gains and might test the 144.15 support in the near term.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY struggled near 147.20 and recently started a downside correction.
- There was a break below a major bullish trend line with support at 145.80 on the hourly chart at FXOpen.
USD/JPY...
Market Analysis: EUR/USD Eyes Fresh Increase
EUR/USD started a fresh decline from 1.1200.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a fresh decline below the 1.1150 support.
- There is a key bearish trend line forming with resistance at 1.1055 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly...
Forex: Money Management Matters
Forex trading management is of paramount importance. Currency trading is not a game of chance, so a trader can and should control risk, monitor cash flow, and regularly review their strategies. In forex trading, where prices change rapidly, money management becomes the most useful tool. This FXOpen article discusses some popular...
Brent Crude Oil Price Hits Yearly Low
Analyzing the oil market on the XBR/USD chart from August 26, when Brent crude was trading around $79 per barrel, we observed the following:
→ The price was forming a descending channel (shown in red) and approaching its upper boundary, which could act as resistance.
→ We identified a key support level (shown in yellow).
→...
Nvidia (NVDA) Shares Among the Biggest Losers
On July 31, US labour market data was released, which proved disappointing and contributed to a decline in the Nasdaq 100 index (US Tech 100 mini on FXOpen) by over 10% between August 1 and 5.
This heightens the importance of the upcoming labour market data release, scheduled for tomorrow (15:15-15:30 GMT+3). It...
How to Trade with Hybrid Strategies
In today's intricate financial landscape, traders have an array of strategies at their disposal. This article delves into the core methods—technical, fundamental, and algorithmic/quantitative analysis—and introduces the concept of hybrid strategies. Learn how combining these techniques can offer a balanced approach to trading,...
XAG/USD Analysis: Bulls May Target $30 Again
As the XAG/USD chart indicates today, the price of silver has dropped by over 5% in the past week. Bearish signs are also evident in the price of gold. According to Reuters, market participants are focusing on a series of economic data set to be released this week, which could influence expectations regarding a...
The Price of Intel (INTC) Shares Rose By 9.5% in a Day
The reason for the optimism is a report from Reuters that CEO Pat Gelsinger is planning to present a comprehensive plan to the board of directors in mid-September:
→ Special attention will be given to reducing capital expenditures, which is part of a broader effort to revitalise the chipmaker, whose shares...
The Most Famous Traders Around the Globe
You may have come across news articles and personal stories on social media about traders who have made huge profits and achieved early retirement. Such stories can motivate you to learn and practise to achieve your personal highs. In this FXOpen article, you will find out more about the most famous traders and their...
September – The Worst Month for the S&P 500
August was a turbulent month for the US stock market. On the 5th, the S&P 500 (US SPX 500 mini on FXOpen) experienced its largest daily drop since 2022, falling by 3%. However, the index ended August up by 3.7% and is now just 0.3% below its all-time high of around 5672 set in July.
What can we expect in September?...
How to Perform Fundamental Analysis of Stocks
In the dynamic world of financial markets, traders seek every available edge to make informed decisions. Among the numerous tools at their disposal, two approaches stand out: technical analysis and fundamental analysis of stocks. In this article, we will explore what fundamental analysis is, how it applies to stocks,...
Weekly Market Wrap With Gary Thomson: EUR/USD, NASDAQ 100, NVIDIA, Gold and 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.
- EUR/USD falls below 1.11 support
- NASDAQ 100 consolidates ahead of...
USD/CHF Rebounds from Yearly Lows
The USD/CHF pair tested its yearly low slightly below 0.84100 yesterday but has since recovered to just above 0.84800 today.
The bullish sentiment was supported by positive news about the U.S. economy—data released yesterday showed GDP growth for the second quarter at 3.0%, surpassing the expected 2.8%.
Bulls may find further...
