Eurostoxx 50 at Important Support. Production in Europe is Declining
As data released this morning showed:
→ Purchasing Managers' Index (PMI) in France: actual = 42.6, expected = 44.4, a month ago = 43.6. Thus, the index dropped to its lowest level since the panic associated with the spread of coronavirus.
→ PMI in Germany: actual = 40.7, expected = 40.1, a...
Amid the frenzy over expectations that the SEC will approve applications for spot bitcoin ETFs, the cryptocurrency market capitalization reached USD 1.25 trillion this morning, for the first time in 2023. Expectations have increased following reports that the US Securities and Exchange Commission will not appeal a court ruling that the rejection of Grayscale...
Identifying market trends can be challenging, but there are tools that can help. One common question traders often grapple with is: What are the best trend indicators? This article aims to shed light on four of the top trend tools traders use.
For the best experience, head over to FXOpen’s free TickTrader platform. There, you’ll find each indicator ready for you...
On Friday-Sunday, the price of BTC/USD several times exceeded the round level of 30,000, but the excess was short-lived; soon, the price rolled back down. But the pressure of the bulls did not weaken, and since the beginning of Monday, the price of bitcoin rose above 37,000.
A combination of bullish factors contributed to the rise in bitcoin prices:
→ the...
USD/CAD is rising and might aim for a move above the 1.3720 resistance zone.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD is showing positive signs above the 1.3670 support zone.
· There is a bullish flag pattern forming with resistance near 1.3720 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at...
GBP/USD is attempting a recovery wave from 1.2090.
Important Takeaways for GBP/USD Analysis Today
· The British Pound is struggling to gain pace for a move above the 1.2200 region.
· There is a key bearish trend line forming with resistance near 1.2170 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at...
From early January to today, the GBP/JPY rate has risen by approximately 17%, driven by the Bank of Japan's ultra-loose policy of keeping rates below zero.
But since August, the upward trend began to weaken — perhaps faith in the pound was undermined by high inflation (the highest among the G7). This week:
→ data published on Wednesday showed that inflation in...
On September 19, we analysed the S&P 500 index, indicating that the market is under pressure. This was an important long term analysis, and let's see what has changed in a month with the news that happened yesterday.
A month ago we marked turning points A, B, C, D on the chart.
Since then, new turning points have appeared: E, F, G, H.
As we indicated, in the...
NZD/USD is also moving lower and might trade below the 0.5800 zone.
Important Takeaways for NZD/USD Analysis Today
· NZD/USD declined steadily from the 0.5930 resistance zone.
· There is a connecting bearish trend line forming with resistance near 0.5840 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD on...
AUD/USD declined below the 0.6355 and 0.6330 support levels.
Important Takeaways for AUD/USD Analysis Today
· The Aussie Dollar started a fresh decline from well above the 0.6355 level against the US Dollar.
· There is a key bearish trend line forming with resistance near 0.6330 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the...
In the world of trading, knowledge is power, and being aware of the strategies employed by market manipulators can be the key to safeguarding your capital. One such manipulative practice is stop hunting, which targets stop-loss orders in an attempt to drive prices in a particular direction. In this article, we will delve into the concept of stop hunting, explore...
According to the earnings report published yesterday:
→ Tesla's revenue for the 3rd quarter amounted to USD 23.35 billion, expected USD 24.18 billion;
→ earnings per share amounted to USD 0.66, expected USD 0.73.
That is, the actual numbers turned out to be worse than forecasts. But the main negative can be considered the statements of Elon Musk, according to...
Pushing off the lower boundary of the ascending channel, the price of Brent oil rose by more than 8% amid fears of an escalation of conflict in the Middle East, which should pose a problem both for the US economy, which suffers from high inflation, and for President Biden personally on the eve of the elections.
The situation is aggravated by the fact that oil...
Yesterday's closing price was 345.83, but this morning, NFLX's price rose above USD 390 per share in premarket trading. The reason is a strong report:
→ earnings per share = USD 3.73, expected = USD 3.49;
→ revenue = USD 8.54 billion, a year ago = USD 7.9 billion.
→ the main surprise is that the number of subscribers grew by an impressive 8.76 million in the...
UK inflation data was released this morning, showing that consumer price inflation (CPI) held steady at 6.7% in September, although economists had expected 6.6%, which would mean the CPI would continue to decline from its peak of 11.1%, achieved at the end of last year.
These data provide evidence to suggest that inflation has stalled. And the Bank of England...
USD/JPY is rising and might soon attempt a move above the 150.00 resistance.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY climbed higher above the 149.00 and 149.45 levels.
· There is a connecting bullish trend line forming with support near 149.45 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen,...
EUR/USD is slowly moving higher from the 1.0500 level.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a decent increase above the 1.0570 pivot level.
· There is a key bullish trend line forming with support near 1.0570 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair...
