After Updating the Historical High, the Price of Bitcoin Collapsed by 14%
Bitcoin's previous all-time high price, recorded on November 10, 2021, was around USD 68,900 per coin (depending on exchanges).
But yesterday, the price of Bitcoin exceeded 69k! However, the jubilation from the new historical peak quickly gave way to fear — as the BTC/USD rate began to...
Market Analysis: USD/CHF Could Rally
USD/CHF declined and now struggling below the 0.8860 resistance.
Important Takeaways for USD/CHF Analysis Today
USD/CHF declined below the 0.8860 and 0.8850 support levels.
There is a key contracting triangle forming with resistance near 0.8850 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the...
Market Analysis: EUR/USD Eyes More Gains
EUR/USD started a fresh increase above the 1.0828 resistance.
Important Takeaways for EUR/USD Analysis Today
The Euro rallied after it broke the 1.0828 resistance against the US Dollar.
There is a connecting bullish trend line forming with support near 1.0845 on the hourly chart of EUR/USD at FXOpen.
EUR/USD...
What Are Cryptocurrency Bear and Bull Traps?
In volatile crypto markets, traders must contend with many challenges. One of the most common is the bear and bull trap, which can quickly catch traders off-guard if they aren’t careful. In this FXOpen article, we’ll explore how these traps work, provide examples to illustrate their characteristics, and tell about...
Swiss Franc Weakens after Inflation News
Inflation in the country fell in February to its lowest level in nearly two-and-a-half years, data from Switzerland's Federal Statistical Office showed on Monday. Although consumer prices rose 1.2% compared to a year earlier, there is reason to believe that inflation is slowing down compared to the 1.3% recorded a month...
WTI Oil Price Reaches 4-month High against the Backdrop of OPEC+ Decision
On Friday, the price of a barrel of WTI crude oil exceeded USD 80 per barrel due to the decision to continue the policy of reducing oil production by OPEC+ countries.
Saudi Arabia said on Sunday it would extend oil production cuts until June to “maintain stability and balance in oil...
What Are Tweezer Top and Bottom Candlesticks in Crypto Trading?
In crypto trading, candlestick patterns serve as crucial tools for traders to analyse market trends and anticipate reversals. Tweezer top and bottom candlesticks fall into this category. These distinctive formations grab traders' attention as they indicate potential trend reversals. This article...
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Price of Gold Briefly Exceeded $2,050 per Ounce
In addition to new records in the stock markets, the reaction to yesterday's news about inflation in the US was also a decrease in government bond yields and a rapid rise in the price of gold — the cost of XAU/USD jumped by 0.9% in just one hour, while the day's high exceeded USD 2,050 per ounce .
However, on...
Nasdaq-100 Price Hits All-time High after 4 Straight Months of Gains
The Nasdaq-100 index is holding above 18,000 today following yesterday's bullish momentum, fueled by inflation news.
The PCE consumer spending index amounted to 0.4% on a monthly basis, which was in line with analysts' expectations. A year ago, we recall, it was 0.6%. Thus, statistics indicate...
Market Analysis: USD/CAD Aims Higher
USD/CAD is rising and might aim for a move above the 1.3580 resistance zone.
Important Takeaways for USD/CAD Analysis Today
USD/CAD is showing positive signs above the 1.3545 support zone.
There is a contracting triangle forming with resistance near 1.3580 on the hourly chart at FXOpen.
USD/CAD Technical Analysis...
Market Analysis: GBP/USD Struggles
GBP/USD is attempting a recovery wave from 1.2600.
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 near 1.2665 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On...
Trading Strategies for Different Liquidity Conditions
Navigating the financial markets requires a keen understanding of liquidity conditions and their impact on trading strategies. From the bustling activity of high-liquidity markets to the more unpredictable nature of low-liquidity environments, each presents unique challenges and opportunities. This article...
USD/JPY Technical Analysis: Yen Strengthens after Comments from Japanese Officials
This week has raised alarm bells for USD/JPY market participants who are trading the bullish momentum that has been going on since early 2024 (shown in the blue curved lines on the USD/JPY chart):
→ Vice Finance Minister Masato Kanda warned against “excessive volatility” in...
BTC/USD Price Exceeds $60,000 Per Coin
Several factors contributed to this:
→ Effect associated with the approval of Bitcoin ETF. The media writes that investments in these financial instruments amount to about 9k bitcoins per day, and miners produce only 900 bitcoins per day. The total investment in the Bitcoin ETF after approval on January 11 is approaching...
Australian Dollar Weakens amid Inflation News
According to data published today by the Australian Bureau of Statistics, the Consumer Price Index (CPI) value was: actual 3.4%, expected = 3.6%, a month ago = 3.4%, 2 months ago = 4.3%.
Data shows Australia's consumer price growth rate is slowing, approaching targets of around 2%. This means less pressure on the...
AAPL Share Price Rises Nearly 1% after Scrapping Electric Vehicle Plans
In 2021, the release of an electric car from Apple was expected in 2025, in 2022, the deadline was shifted to 2026. As it became known yesterday from Bloomberg and WSJ, Apple decided to completely abandon the project.
Causes for this decision:
→ the electric vehicle market turned out to be...
Market Analysis: Crude Oil Price Eye More Upsides
Crude oil prices are gaining bullish momentum and might rise toward $80.00.
Important Takeaways for Oil Prices Analysis Today
Crude oil prices rallied above the $76.55 and $77.00 resistance levels.
There is a key bullish trend line forming with support at $77.80 on the hourly chart of XTI/USD at...
