Gold price surged above the $1,960 resistance during the Israel-Hamas war escalated.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a steady increase from the $1,974 zone against the US Dollar.
· A key bullish trend line is forming with support near $1,982 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On...
Volatility can seem like a scary concept at first glance: wild price swings, stop-outs, and general unpredictability. However, there are volatility technical indicators that can help. This article covers five essential volatility indicators, discussing how they work and how they’re used to gauge market conditions.
What Is Volatility?
Volatility represents the...
The decline to current levels from the peak of the top of the year, set on July 19, exceeded 10%, which is generally considered to be the trigger for the start of the correction. According to statistics, this is the 70th official correction since the index was created in February 1971.
Despite the positive report from Microsoft, the bearish dynamics of the NASDAQ...
Like Google, META demonstrated that the price can fall if the quarterly report is better than expected:
→ Earnings per share: actual = USD 4.39, expectation = USD 3.63.
→ Revenue: actual = USD 34.15 billion, expectations = USD 33.56 billion
→ Number of daily active users: fact = 2.09 billion, expectation = 2.07 billion according to StreetAccount.
META's share...
Shares of GOOG and GOOGL fell about 9.5% on Wednesday, wiping Google's parent company's market value by USD 166.64 billion, the fifth-largest decline in capitalization history, according to Dow Jones Market Data.
It is noteworthy that the drop occurred as a result of the publication of a report that turned out to be better than expected:
→ earnings per share:...
AUD/USD Analysis: The Rate Reacts Sharply to News About Inflation
Today in Australia, data from the CPI indicator was published, which came as an unpleasant surprise, indicating that inflation in Australia does not want to decline:
Core Price Index was: actual = 5.6%, expected = 5.3%, a month earlier = 5.2%, two months earlier = 4.9%.
Perhaps the reason that...
USD/CHF is also declining and struggling below the 0.9000 region.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace below the 0.8975 support zone.
· There is a major bearish trend line forming with resistance near 0.8940 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair...
EUR/USD started a fresh decline below the 1.0625 support.
Important Takeaways for EUR/USD Analysis Today
· The Euro struggled to clear the 1.0685 resistance and declined against the US Dollar.
· There is a key bullish trend line forming with support near 1.0585 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
Understanding volume in relation to price movement can be crucial for successful trading. The On-Balance Volume (OBV) indicator offers this valuable perspective by combining price and volume to gauge market sentiment. This article explains how to calculate, interpret, and apply the OBV in your trading strategies.
The On-Balance Volume Indicator Explained
...
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...
