Market Analysis: AUD/USD Set for Steady Gains
AUD/USD is correcting gains from the 0.6735 zone.
Important Takeaways for AUD USD Analysis Today
- The Aussie Dollar started a downside correction from 0.6735 against the US Dollar.
- There is a key bullish trend line forming with support at 0.6700 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical...
USD/CAD Breaks Key Support
On 25 June, we noted that the USD/CAD price had approached a crucial support level—the lower boundary of a converging triangle, which indicated a relative balance of supply and demand in the market during May.
Since then, the price has bounced twice from this level (as indicated by the arrow).
Today, as the USD/CAD chart shows, the...
S&P 500: Mid-Year Prospects Analysis
As shown by the daily chart of the S&P 500 (US SPX 500 mini on FXOpen):
→ Since the beginning of 2023, the price has been moving in an upward blue channel. To date, the increase has been over 42%;
→ Since the start of 2024, the price has formed a steeper upward channel (shown in orange). In the first half of the year, the...
Gold Price Prospects for H2
As shown by the daily XAU/USD chart:
→ Since November 2022, the price has been moving in an upward channel, marked in orange;
→ Since the start of 2024, the price has risen by approximately 12.5%.
What are the gold price forecasts for the end of 2024?
According to Investing.com, Georgette Boele, a senior sustainability...
What Is the VIX Index, and How Is It Used in Trading?
The VIX Index serves as a key indicator of expected market volatility over the next 30 days, derived directly from S&P 500 options. Developed by the Chicago Board Options Exchange in 1993, it offers a simple way to gauge volatility and potential stock market fluctuations. In this article, we’ll explore what...
TSLA Stock Price Hits Over 5-Month High
As today's TSLA chart shows, the stock price rose by approximately 6% during yesterday's trading, surpassing the $209 per share level. This marks the highest point since 24 January this year.
The price increase was driven by optimism related to the release of second-quarter car sales data. It is expected that Tesla might...
Silver Price Analysis: Awaiting Powell's Comments
Today, at 16:30 GMT+3, the Federal Reserve Chairman is scheduled to speak. Market participants are looking for more clarity on the Fed's plans regarding interest rate cuts following the release of inflation data last Friday.
According to Trading Economics, Fed officials have repeatedly called for caution before...
EUR/USD Rate Rises After First Round of Voting in France
According to Reuters, exit polls show that Marine Le Pen's far-right party, the National Rally (RN), won the first round of parliamentary elections in France on Sunday.
The financial market reacted to this with a rise in the euro's exchange rate against other currencies.
Specifically, the EUR/USD rate...
S&P 500 Analysis: Concerning Market Behaviour
On Friday, data was released showing that inflation in the US slowed down in May. According to ForexFactory, the actual monthly Core PCE Price Index was 0.1%, which matched the forecasts (last month’s PCE was 0.3%).
Reuters reports that:
→ Prices for recreational goods, as well as for vehicles, furniture, and...
What Is the 80-20 Rule (Pareto Principle) in Trading?
In trading, rules that could maximise efficiency are highly sought after. One such principle is the 80-20 rule, also known as the Pareto principle. This concept asserts that 80% of outcomes often stem from 20% of causes. In software development, 20% of the bugs cause 80% of the problems. In customer service,...
Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, EU Currencies, USD/JPY, AMZN 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.
- Nasdaq 100 Index Failed to Hold above 20,000 Points
-...
Strong US Dollar Dominates Forex: For How Long?
According to ICE data, the price of the US Dollar Index futures contract has reached its highest level since May 2 of this year.
This strength is reflected in the exchange rates of major currencies against the US dollar:
→ The USD/JPY rate has reached a record high since 1986, which we reported yesterday. Today,...
Market Analysis: GBP/USD Turns Red
GBP/USD declined below the 1.2670 support zone.
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 at 1.2640 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the...
Market Analysis: USD/CAD Rallies
USD/CAD is rising and might aim for more gains above the 1.3735 resistance.
Important Takeaways for USD/CAD Analysis Today
- USD/CAD is showing positive signs above the 1.3675 support zone.
- There is a major bullish trend line forming with support at 1.3705 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the...
Alternative Investment Options
Traders and investors are increasingly turning to alternative investment options to diversify their portfolios and seek new avenues for potential returns. In this FXOpen article, we discuss alternative investments, examining the types and explaining the reasons why they are gaining traction.
What Is an Alternative Investment?...
USD/JPY Rate Hits Highest Level Since 1986
As shown in the USD/JPY chart, today the rate is around 160.58 yen per US dollar.
Bloomberg reports the words of Japan’s Finance Minister Shunichi Suzuki:
→ It is desirable for the exchange rate to move in a stable manner.
→ Sudden, one-sided moves are not desirable.
→ We will analyze the background to this move with a...
AMZN Shares Set a New All-Time High
As shown in the AMZN chart, yesterday the share price confidently surpassed the psychological level of $190, closing above $193.41, which is a new all-time high.
Specifically:
→ the growth was approximately +3.9% for the day, with the closing candle at the upper part (a sign of strong demand);
→ Amazon's market capitalisation...
The Nikkei Index Has Risen to a 2-Month High
As we wrote on June 17th, analyzing the Nikkei 225 chart (Japan 225 on FXOpen):
→ the price formed a consolidation pattern (in the shape of a narrowing triangle);
→ the price formed a bullish reversal from the 38,000 points level (indicated by an arrow), suggesting potential growth and trend establishment upon pattern...
