US Dollar Strengthens after Strong ISM Manufacturing PMI Report
Yesterday, news was published on the state of the US manufacturing sector, namely the Purchase Manager Index (PMI), which is calculated by The Institute for Supply Management (ISM).
The data turned out to be strong: fact = 50.3, forecast = 48.5, a month earlier = 47.8.
Since readings above 50...
E-mini S&P-500 Start Quarter at Historic Highs
On Friday, data from the Personal Consumption Expenditures (PCE) index was published. According to Trading Economics, the PCE price index report showed that inflation is slowing. On a monthly basis, it grew by 0.3% in February, forecast = 0.4%, a month ago = 0.4%.
Following the release of the PCE index, Jerome...
What Is the Spot Market?
The spot market is a fundamental aspect of the financial world. The concept may be unfamiliar to some, hence it is important to provide a comprehensive spot market definition, examine the types of markets, and identify the key players. Let’s delve into the topic.
Spot Market: Meaning
A spot market is a financial market in which...
Although UK-100 Index Is Near All-time Highs, UK Economy Slips into Recession
Technically, a national economic recession is defined as two consecutive quarters of contraction, and yesterday's Office for National Statistics data confirmed that this has happened — UK GDP fell in the third and fourth quarters of 2023 by 0.1% and 0.3% respectively.
The Guardian...
DOGE Price Increases by 170% in Less Than 2 Months
On February 1, 2024, the DOGE/USD rate was = 0.0783. On the last Friday of March, it rose to 0.2150. The rising price means Dogecoin is now the eighth-largest cryptocurrency in the world by market capitalization, overtaking Cardano (ADA) and Avalanche (AVAX) in recent days.
The reason for the positive sentiment...
Market Analysis: Crude Oil Price Gain Bullish Momentum
Crude oil prices are gaining bullish momentum and might rise toward $85.00.
Important Takeaways for Oil Prices Analysis Today
Crude oil prices rallied above the $81.60 and $82.00 resistance levels.
There is a key bullish trend line forming with support at $82.30 on the hourly chart of XTI/USD at...
Market Analysis: Gold Price Gain Bullish Momentum
Gold price started a steady increase above the $2,200 resistance level.
Important Takeaways for Gold Prices Analysis Today
Gold price started a decent increase from the $2,158 zone against the US Dollar.
A connecting bullish trend line is forming with support near $2,218 on the hourly chart of gold at...
The Wyckoff Trading Method
The Wyckoff method is a popular technique for analysing market trends, finding reversals, and making informed trading decisions. In this article, we’ll provide an overview of this decades-old system and explain how you may apply it to your strategy.
What Is the Wyckoff Method?
The Wyckoff method is a type of technical analysis...
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Stock Market Analysis: NVDA Losing Leadership?
Since the start of the week, the S&P-500 Index (US500) is up about 0.58% while NVDA's share price is down about 3.8%. This is a worrying sign for Nvidia stock investors — could it be a sign that NVDA is no longer the market leader?
Dubravko Lakos-Bujas, JPMorgan's chief equity strategist, warned of a potential...
EUR/USD Analysis: The Price Today Has Set Its Minimum Since the Beginning of March
As the EUR/USD chart shows at the start of the European session today, the exchange rate has dropped below EUR 1.08 per US dollar.
Tuesday's news contributed to this. According to Nasdaq.com, on March 26, 2024, The Conference Board published a report for March, according to which...
NIKKEI-225 Analysis Indicates Possibility of Correction from Historically High Levels
On March 21, the value of the Japanese stock index reached a historical maximum, exceeding the level of 41,100 points. This was facilitated by:
→ Weak yen supporting exporters. It increases the value of profits earned abroad for a large number of companies that sell their...
Market Analysis: USD/CAD Gains Bullish Pace
USD/CAD is rising and might aim for more gains above the 1.3610 resistance.
Important Takeaways for USD/CAD Analysis Today
USD/CAD is showing positive signs above the 1.3555 support zone.
There was a break above a major bearish trend line with resistance near 1.3575 on the hourly chart at FXOpen.
USD/CAD...
Market Analysis: GBP/USD Dives
GBP/USD declined below the 1.2665 support zone.
Important Takeaways for GBP/USD Analysis Today
The British Pound started a fresh decline from the 1.2800 resistance zone.
There was a break below a key rising channel with support at 1.2630 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the...
How to Trade a High Wave Pattern
In the dynamic world of trading, the high wave candlestick pattern emerges as a potent instrument, offering valuable insights to traders as they navigate the intricate terrain of financial markets. As we venture into the setup, this exploration will illuminate its fundamental principles, strategies, and tools that empower traders...
USD/JPY Price Analysis: Consolidation ahead of US News
This morning, news about inflation in Japan was published. It did not bring any surprises — inflation in Japan is gradually weakening as expected. Core CPI in annual terms: actual = 2.3%, forecast = 2.5%, a month ago = 2.6%, a year ago = 3.0%.
We also note that the official position is aimed at preventing...
Bitcoin Price Recovered over the Weekend, But Market Anxiety Remains
From the point of view of technical analysis of BTC/USD, on Friday evening the price of Bitcoin was near the lower boundary of the ascending channel (shown in blue). This was alarming as it indicated that the market action could result in a weekly bearish candle forming with the price of BTC...
All-Time Low and All-Time High Trading Strategies
In the volatile world of trading, mastering all-time high trading strategies and understanding how to navigate all-time lows are key. This FXOpen article delves into the nuanced tactics and insights that may help you navigate the peaks and troughs of market conditions, offering comprehensive insights if you are...
