The main event of last week was information from the Fed. Jerome Powell once again demonstrated his determination to maintain a tough political stance, which caused:
→ increase in bond yields. Yields on 10-year securities reached their highest since 2009;
→ the dollar index jumped to its highs of the year;
→ stock markets fell — especially NASDAQ. This increases...
USD/CAD is rising and might aim for a move above the 1.3520 resistance zone.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD is showing positive signs above the 1.3400 support zone.
· There is a major bullish trend line forming with support near 1.3450 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen,...
GBP/USD is gaining pace below 1.2300.
Important Takeaways for GBP/USD Analysis Today
· The British Pound started a fresh decline below the 1.2500 support zone.
· There is a key bearish trend line forming with resistance near 1.2260 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the pair...
Divergence trading is a cornerstone concept in the realm of technical analysis, offering traders a unique perspective on potential market reversals. By comparing asset prices with momentum indicators, traders can discern subtle shifts in market dynamics. This article delves into the intricacies of divergence trading, featuring strategies using the RSI, MACD, and...
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
🌐 FXOpen official website: www.fxopen.com
CFDs are complex instruments and come with a high risk of losing your money.
Today, fresh monthly values of the PMI index, which is considered a leading indicator of the state of the economy, have become known:
→ France: actual 43.6, expected 46.2. This is the worst economic contraction since the coronavirus.
→ Germany: actual 39.8, expected 39.5.
As a reminder, values below 50 indicate a slowing economy.
Thus, the PMI witnessed the...
This morning, the Bank of Japan's decision on the interest rate, which has been kept at -0.1% since 2016, became known. The rate size remained unchanged.
Although surprises could occur due to the fact that inflation is still above the central bank's target of 2% for the 17th month in a row. So a tightening of policy is becoming more and more likely. CNBC writes...
NZD/USD is now recovering and eyeing an upside break above the 0.5950 resistance zone.
Important Takeaways for NZD/USD Analysis Today
NZD/USD is attempting a recovery wave above the 0.5920 resistance.
There is a major contracting triangle forming with resistance near 0.5940 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the...
AUD/USD declined below 0.6430 before it found support.
Important Takeaways for AUD/USD Analysis Today
The Aussie Dollar started a fresh decline from well above the 0.6450 level against the US Dollar.
There is a key rising channel forming with resistance near 0.6450 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly...
Countertrend trading is a well-respected way to trade. Combining it with the predictive power of impulse movements can help traders act on market reversals. This article delves into the components and practical application of this strategy, providing insights for any trader looking to enhance their trading skills.
Understanding Countertrend Trading
In...
The policy of OPEC+ countries to voluntarily reduce oil production was one of the drivers thanks to which the price of WTI oil increased by approximately 40% from its low in June. In such cases, it is appropriate to use the phrase “correction is overdue.”
So a decline from the week's high above USD 92 to current levels seems natural. Note that the reversal began...
Yesterday, the main event of the week took place — the Federal Reserve meeting, which had a noticeable impact on the market of assets denominated in US dollars. But besides the Fed meeting, there are a number of other events this week related to central banks:
→ today at 10:30, a meeting of the Swiss National Bank took place. The interest rate remained at 1.75%,...
Yesterday was an important evening that had an impact on many financial markets. The Federal Reserve (as expected) kept the rate at the same level. According to Powell:
→ The full effect of tightening the monetary policy has yet to be felt.
→ will continue to act cautiously, basing further decisions on incoming statistical data.
→ Inflation is much higher than...
According to data published this morning for August from the UK Office for National Statistics, the CPI index amounted to 6.7% in annual terms (expected 7.0%, value a month ago = 6.8%).
That is, the data shows that although inflation remains high (above other G7 countries), the trend points to a slowdown. This is the 6th CPI value in a row that has either...
USD/JPY is rising and might climb further if it clears the 148.00 resistance zone.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY climbed higher above the 147.20 and 147.50 levels.
· There is a connecting bullish trend line forming with support near 147.70 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY...
EUR/USD started a fresh decline below 1.0715.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a fresh decline below the 1.0715 support zone.
· There is a key bearish trend line forming with resistance near 1.0715 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair...
Dive into the world of advanced trading indicators with the Stochastic RSI. This potent tool, rooted in two well-known indicators, offers frequent entry and exit signals for traders. In this article, we will delve into how the StochRSI works, examine the Stochastic Oscillator vs the RSI, and explain how to use this tool in your trading.
What Is the Stochastic...
The decision on the base interest rate will be published tomorrow at 21:00 GMT+3, and Powell will hold a press conference at 21:30. Although most experts, as reported by the media, expect that the current rate will remain, market participants will closely monitor the Federal Reserve's assessment of the current situation, which includes new data on inflation and...
