Market Analysis: GBP/USD Takes Hit
GBP/USD started a fresh decline below the 1.3200 zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound started a major decline from the 1.3400 resistance zone.
- There was a break above a key bearish trend line forming with resistance at 1.3000 on the hourly chart of GBP/USD at FXOpen.
GBP/USD...
Morgan Stanley (MS) Shares Rise 6.45%, Setting Historic High
Morgan Stanley (MS) reported its third-quarter results:
→ Earnings per share: actual = $1.88, forecast = $1.59
→ Gross revenue: actual = $15.38 billion, forecast = $14.35 billion
According to Barron’s, Morgan Stanley’s profit increased by 32% compared to last year, driven by heightened activity in...
What Is the S&P 500 Index and How to Trade It via CFDs?
The S&P 500 index is a cornerstone of the financial world, providing a snapshot of the US stock market by tracking 500 of the largest companies. This FXOpen article delves into the essence of the S&P 500, its operational mechanics, and how traders can navigate its movements through CFDs.
What Is the S&P...
Nvidia (NVDA) Shares Fall Over 4%, Missing a Record High
On 12 September, when analysing Nvidia’s (NVDA) stock chart, we drew an upward channel (shown in blue) and noted several resistance levels, including:
→ a downward trendline (shown in red);
→ a psychological level at $130.
As Nvidia’s (NVDA) stock chart shows, the bulls managed to overcome this resistance...
Pound Falls After Inflation Report
The Consumer Price Index (CPI) report for the UK was released today, showing that inflation is decreasing at a faster rate than analysts had predicted. According to data from ForexFactory:
→ Yearly CPI: actual = 1.7%, forecast = 1.9%, previous = 2.2%;
→ Yearly Core CPI: actual = 3.2%, forecast = 3.4%, previous = 3.6%.
The...
Using Big Data Analytics in Forex Trading
Recent years have seen explosive growth in the amount of data in circulation, and the financial industry is no exception. The use of big data analytics in forex trading has become increasingly popular as traders and institutions look to gain a competitive edge through the analysis of vast data sets.
The forex market is...
Coinbase (COIN) Shares Rise by Approximately 18% in Two Days
According to the chart, while trading in cryptocurrency exchange Coinbase (COIN) shares opened around $166 on Friday, yesterday's session closed above $196, marking a price increase of around 18% in just two days.
Factors contributing to the sharp rise in Coinbase (COIN) shares include:
→ Bullish...
Natural Gas Price Drops Over 8% Since the Start of the Month
On 26 September, when analysing the XNG/USD natural gas price chart, we noted that:
→ Bulls might be "gathering strength" for a potential attempt to break the psychological level of 3.00.
→ If successful, this would pave the way towards the yearly high around 3.20.
Since then, the price of natural...
Global Currency Trade: In-Depth Analysis
Global currency trade, a cornerstone of the modern financial landscape, orchestrates the ebb and flow of money across international borders. It's not just a market but a complex network where varied currencies, pivotal in shaping economies, are exchanged. This article delves into the intricacies of this dynamic world,...
JPMorgan (JPM) Shares Rise Over 4% Following Earnings Report
On Friday, before the market opened, JPMorgan (JPM) released its Q3 earnings, which exceeded expectations:
→ Earnings per share: Expected = $3.99, Actual = $4.97
→ Revenue: Expected = $41.4 billion, Actual = $43.4 billion
CEO Jamie Dimon praised the strong results but issued several cautionary...
How to Trade Crude Oil: Trading Strategies
Learning how to trade crude oil requires a nuanced understanding of its fundamental aspects, instruments, and trading strategies. This comprehensive article offers insights into the critical elements that affect crude oil prices, the range of instruments available for trading, and specific strategies traders use in this...
S&P 500 Reaches Another Record High
As shown by the S&P 500 chart (US SPX 500 mini on FXOpen), the leading US stock index set its 45th record of the year, closing above 5800 on Friday. This marks the fifth consecutive week of growth, with the index up more than 22% since the start of the year.
According to Reuters, the bullish market sentiment is driven by the...
Weekly Market Wrap With Gary Thomson: Hang Seng Index, XAU/USD, Microsoft and Netflix 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.
- Hang Seng Index (HSI) Drops Nearly 10% Today
- Analysis of...
USD/CAD Analysis: Exchange Rate Rises for Seven Consecutive Days
Data shows that USD/CAD has formed seven consecutive bullish candles since 3 October, and today could mark the eighth in this sequence.
This strong rise in the pair has been driven by the strengthening of the US dollar amid several fundamental factors. Media reports suggest that traders are...
Tesla (TSLA) Shares Fall After ‘We, Robot’ Presentation
On 10 October, at the Warner Brothers studio in Burbank, California, Elon Musk unveiled three products during the presentation of “We, Robot”:
→ Cybercab – an autonomous robotaxi that Musk claims will be produced in very large quantities.
→ Robovan – an autonomous bus capable of transporting 20 people or...
Market Analysis: WTI Crude Oil Price Target Additional Gains
WTI Crude oil prices are gaining bullish momentum and might even test $78.00.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices extended gains above the $72.40 and $73.50 resistance levels.
- There was a move above a connecting bearish trend line with resistance...
Market Analysis: Gold Price Target Additional Gains
Gold price started a fresh increase above the $2,618 resistance level.
Important Takeaways for Gold Price Analysis Today
- Gold price started a steady increase from the $2,600 zone against the US Dollar.
- It cleared a key bearish trend line with resistance at $2,630 on the hourly chart of gold at...
USD/JPY Chart Analysis: Bears May Take Control
As shown in today’s USD/JPY chart, the US dollar has gained over 3.6% against the yen since the start of the month. Yesterday, the exchange rate surpassed the peak formed on 16 August around the 149.40 level, marking a 10-week high.
The bullish sentiment towards the US dollar has been influenced by increased market...
