Various media outlets report the opinion that SEC Chairman Gary Gensler expressed in a personal conversation. He allegedly intends to approve applications for the creation of ETFs related to the cryptocurrency spot markets. Such applications were submitted by BlackRock, Invesco, WisdomTree, Valkyrie and other respectable funds. But for now, the SEC's decision on...
In the world of trading, tools like Andrews’ Pitchfork stand out for their precision and versatility. Dive in to discover how to use the Pitchfork for stock analysis and more with this comprehensive article, including how it’s drawn, its applications, and its limitations.
What Is the Andrews' Pitchfork Indicator?
Andrews' Pitchfork is a popular technical...
EUR/GBP is rising and might climb above the 0.8615 resistance.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP is rising and trading above the 0.8600 zone.
· There was a break above a connecting bearish trend line with resistance near 0.8600 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the...
GBP/USD extended losses and traded below the 1.2465 support.
Important Takeaways for GBP/USD Analysis Today
· The British Pound is showing bearish signs below 1.2420.
· There is a key bearish trend line forming with resistance near 1.2465 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the...
On September 7, we wrote that the level of 1.365 could serve as resistance, from which the price will form a bearish reversal.
As the USD/CAD chart shows, the rate dropped from this resistance to the psychological level of 1.3500, which served as support.
Wherein:
→ The bullish trend (shown by the blue channel) is broken. Facing resistance at 1.365, the...
The evening doji star is a widely used pattern in price action analysis, which traders and technical analysts often employ to spot possible trading opportunities. This setup signals a potential trend reversal from an uptrend to a downtrend and can be a useful tool for market participants to have in their arsenal. In this article, we will delve into the technical...
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.
The US dollar index hit its highest level since early March this week, but the yuan is one of the few currencies to rise against the USD over the period.
This was facilitated, among other things, by strong economic data published today:
→ Industrial production growth in August amounted to +4.5% in annual terms (expected +3.9). This is the strongest progress in 1...
According to the ECB report, published yesterday:
→ Inflation in Europe continues to decline, but will remain too high for too long.
→ Average inflation is forecast at 5.6% in 2023, 3.2% in 2024 and 2.1% in 2025. This is an upward revision for 2023 and 2024, which mainly reflects rising energy prices.
→ The eurozone economy is forecast to grow by 0.7% in 2023,...
Crude oil price is surging, and it could climb further higher toward the $92 resistance.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices rallied above the $88 and $90 resistance levels.
· There is a key bullish trend line forming with support near $89.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the...
Gold price is eyeing a fresh increase above the $1,915 resistance level.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a recovery wave from the $1,900 zone against the US Dollar.
· It broke a major bearish trend line with resistance near $1,908 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly...
Are you looking to improve your trading strategy and technical analysis skills? The ABCD trading pattern may be just what you need. This tool may help you identify potential reversals and decide when to enter a trade. Keep reading to learn more about the ABCD pattern and how to apply it to your own trading strategy.
What Is an ABCD Pattern?
The ABCD pattern is...
Euro currency traders are focused on the ECB meeting, the decision of which will be published today at 15:15 GMT+3. There will be a press conference at 3:45 p.m.
According to Reuters, the probability of a rate hike is about 60%. The figure stood at 50% at the start of the week as the ECB's updated forecasts expect inflation to remain above 3% next year, well...
NVDA Stock Analysis: Reversal Pattern Forming on the Chart
NVDA stock has been a stock market leader throughout 2023 amid the AI boom. NVDA's share price rose by more than 200%, allowing NVidia's capitalization to exceed USD 1 trillion.
However, a pattern is forming on the chart, warning that NVDA's share price may decline. This is a diamond pattern A-B-C-D...
Disappointing UK economic data was released this morning. According to the Office for National Statistics, real gross domestic product fell by 0.5% in July 2023, with declines occurring across a range of sectors. The last time a decline of this magnitude occurred was in February of this year.
As a result of the publication, the GBP/USD rate dropped sharply. At...
USD/CHF is struggling to clear the key 0.8940 resistance zone.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is consolidating gains below the 0.8940 resistance.
· There is a connecting bearish trend line forming with resistance near 0.8930 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the...
EUR/USD started a recovery wave above the 1.0715 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro gained pace after it broke the 1.0705 resistance against the US Dollar.
· There is a major bullish trend line forming with support near 1.0715 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
While there are many types of moving averages used in trading, the hull moving average (HMA) stands out. Designed to minimise lags, it’s a firm favourite with some traders. This article takes a closer look at the HMA, detailing its calculation, uses, and advantages and disadvantages.
What Is the Hull Moving Average Indicator?
The hull moving average (HMA)...
