Yesterday, the values of the PMI index (it is characterized as a leading indicator of industrial production and services) for European countries were published:
→ in Germany: fact = 42.3; expected = 41.1; a month earlier = 40.7;
→ in France: fact = 42.6; expected = 43.2; a month earlier = 42.6;
Although the index values are below 50, indicating a contraction in...
Crude oil price is attempting a recovery wave above the $75.00 zone.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices started a decent recovery wave from the $73.80 support.
· There is a connecting bearish trend line forming with resistance near $77.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly...
Gold price surged toward the $2,000 zone before the bears appeared.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a steady increase from the $1,965 zone against the US Dollar.
· A key bearish trend line is forming with resistance at $1,995 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of...
News releases play a pivotal role in the forex landscape, often driving significant market volatility and offering both opportunities and risks for traders. This article delves into the intricacies of trading news in forex, from understanding the impact of different types of economic news to crafting effective strategies and the importance of execution and...
In our analysis of the price of WTI oil dated November 8, we wrote that the price could recover to the level of USD 80 per barrel.
After the price failed to reach the round level of USD 80 by only 36 cents (the median line of the descending channel prevented this from happening) on November 14, the bears again seized the initiative. The result of their pressure...
Bank of Canada Governor Tiff Macklem said yesterday that enough may have been done to curb inflation. As follows from his words, current policies can lead to inflation returning to the target of 2%.
The announcement fueled market and economist expectations that interest rates had peaked. It is acceptable to assume that the Bank of Canada instilled confidence in...
The previous historical record and maximum for 2023 (USD 502.66 per share) was set on August 24 against the backdrop of the publication of the 2nd quarter report.
This week, NVidia published its report for the Q3, and again the price set a record high, as the report turned out to be better than expected:
→ earnings per share: actual = USD 4.02, forecast = USD...
Yesterday's news from the FOMC is unlikely to have much impact on participants' views that the Fed's tightening cycle is over. According to published protocols:
→ The Fed will act cautiously;
→ all FOMC participants considered it appropriate to keep rates at current levels;
→ everyone also agreed that they would raise interest rates only if progress in...
USD/CHF declined and now struggling below the 0.8900 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF declined below the 0.9000 and 0.8900 support levels.
· There is a connecting bearish trend line forming with resistance near 0.8840 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the...
EUR/USD started a steady increase above the 1.0830 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro rallied after it broke the 1.0830 resistance against the US Dollar.
· There is a short-term bearish trend line forming with resistance near 1.0930 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart...
Mean reversion is an important concept in financial markets, offering traders the opportunity to capitalise on price fluctuations around a long-term average. This article unpacks mean reversion and explores three key trading strategies augmented by specific indicators to fine-tune entry and exit points.
Understanding Mean Reversion
Mean reversion is a theory...
For the first time in 2023, the index of technology stocks exceeded the level of 16,000.
The rally comes amid news surrounding Sam Altman, the now former head of OpenAI, the company behind ChatGPT and other groundbreaking products. If you don't know:
→ Sam Altman, co-founder and former CEO of OpenAI, was fired from his position on November 18, 2023. The...
The news backdrop for the cryptocurrency market continues to focus on the approval of a Bitcoin ETF, which already seems inevitable. At the same time, some of the funds that filed applications with the SEC have already even shared the amount of commissions that will apply to clients who wish to invest in bitcoin through ETFs. Thus, Ark and 21Shares plan to charge...
The Japanese stock market index, made up of shares of 225 companies, is showing high volatility today, attempting to break through the September high. Reuters wrote that the index had reached its highest level since 1990. The record is due to low rates from the Bank of Japan, which are helping the country's export-oriented industry (in particular, the automobile...
USD/CAD is declining and trading below the 1.3730 support.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD started a fresh decline after it broke the 1.3840 resistance.
· There was a break below a major bullish trend line with support near 1.3730 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen,...
GBP/USD started a fresh increase above the 1.2370 zone.
Important Takeaways for GBP/USD Analysis Today
· The British Pound is eyeing a fresh increase above the 1.2500 resistance.
· There was a break above a key bearish trend line with resistance near 1.2430 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD...
Traders strive to identify structures and indicators that can assist their decisions. One such pattern that has garnered attention is the hockey stick. Whether you are an experienced trader or just starting your journey in the world of trading, understanding this hockey stick effect can be a valuable addition. In this FXOpen article, we will explore what this...
NZD/USD is also moving lower and might attempt a fresh increase from 0.5920.
Important Takeaways for NZD USD Analysis Today
· NZD/USD is also moving lower below the 0.5980 support zone.
· There is a major declining channel forming with resistance near 0.5975 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of...
