In 3 trading sessions this week, the S&P 500 is down approximately 2.85%. This pace has not been observed since March, when traders feared a banking crisis.
Possible reasons for the current decline:
→ at the end of August there will be a summit in Jackson Hole, where representatives of central banks will gather. Powell is expected to speak on August 25. It is...
This morning the BTC/USD price is near 26,500, the lowest price since mid-June.
What is the reason for this? Among the drivers of the decline may be information that Elon Musk's SpaceX company intends to sell (or has already sold) USD 373 million worth of bitcoins. However, the collapse could have been influenced more by technical than by fundamental factors.
On...
The McGinley Dynamic indicator is an understated tool that many are unaware of, offering an innovative approach to minimising lag in moving averages and reacting to fast-moving financial markets. In this article, we will explore how this indicator works, how to set it up, and what signals it produces.
Understanding the McGinley Indicator
Introduced by John...
Crude oil price is also declining and showing bearish signs below $80.00.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are also moving lower below the $80.00 resistance zone.
· There is a key bearish trend line forming with resistance near $80.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly...
Gold price is moving lower from the $1,930 resistance.
Important Takeaways for Gold Prices Analysis Today
· Gold price failed to clear the 1,930 resistance and moved lower against the US Dollar.
· A major bearish trend line is forming with resistance near $1,895 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of...
Today, the price of the Hang Seng index fell below the level of 18,000 for the first time since November 2022. The media is publishing materials about the slowdown in the Chinese economy (which is confirmed by statistics) and the lack of expected government stimulus.
The FT writes that foreign investors have canceled purchases of Chinese shares worth USD 7.4...
July was marked by the end of the trial between the SEC regulator and Ripple Labs in favor of the latter, which led to a sharp increase in the XRP token to a price above USD 0.9, but then a rollback followed after the first emotional reaction.
By the way, the trial is not completed yet. As it became known, the SEC intends to appeal the court's decision.
...
Yesterday, data from Statistics Canada was published, which testified to the stability of inflation in the country: the rise in prices for the month amounted to +0.6% (+0.3% was expected).
This increased the likelihood that the Bank of Canada will raise the rate yet again. Now it is at a maximum for 22 years and is 5.0%.
As a result, USD/CAD is declining today...
Yesterday, the S&P 500 fell below the 4,440 level — the last time the price of the S&P 500 was this much was on July 12.
The following contributed to the decline in the stock market:
→ strong US retail sales data (actual: +0.7%, expected +0.4%, last month: +0.2%). Market participants fear that interest rates may remain high for longer;
→ information that Fitch...
The Chaikin Oscillator is a powerful momentum indicator that can help traders uncover hidden trading opportunities and spot emerging trends. In this article, we’ll delve into its inner workings, explore how to interpret its signals and show you how it can be applied.
What Is the Chaikin Oscillator?
The Chaikin Oscillator, developed by Marc Chaikin, is a...
USD/CHF is rising and might aim a move toward the 0.8850 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.8745 resistance zone.
· There is a key bullish trend line forming with support near 0.8760 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 1.0000 support.
Important Takeaways for EUR/USD Analysis Today
· The Euro struggled to clear the 1.1040 resistance against the US Dollar.
· There is a major bearish trend line forming with resistance near 1.0920 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at...
Shares of Nvidia are the main newsmakers of the stock market at the beginning of this week. As the chart shows, NVDA opened at USD 403.45 per share on Monday and is trading above USD 440 (over +9%) in premarket Tuesday.
The reasons for this are as follows:
→ analysts at Morgan Stanley confirmed their bullish outlook on the stock;
→ positive expectations from...
On Tuesday morning data from the UK market were published:
→ base wage rose at a record pace in the second quarter. It was 7.8% higher than a year earlier, representing the highest annual growth rate since 2001.
→ at the same time, the number of unemployed also increased. In July, 29k applications for unemployment benefits were submitted (expected - 19.2).
The...
Rate of Change Indicator: Analysing Price Momentum with Precision
With so many complex indicators to choose from, sometimes it’s best to stick with the basics. One simple yet effective momentum oscillator is the Rate of Change indicator. In this article, we take a deep dive into how this indicator works, what signals it offers, and its potential drawbacks.
...
The uptrend in 2023 is due to the difference in the monetary policy of the Bank of Japan and the US Federal Reserve. As the chart shows, USD/JPY hit 145.22 yen per US dollar today. The last time such a rate was relevant was in November 2022 after foreign exchange interventions (marked with arrows).
Since the USD/JPY rate has again reached the level of 145 yen per...
USD/CAD is rising and might gain pace above the 1.3500 resistance zone.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD is rising steadily from 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, the pair...
GBP/USD is showing bearish signs below 1.2700.
Important Takeaways for GBP/USD Analysis Today
· The British Pound started a fresh decline from the 1.2800 resistance zone.
· There is a key bearish trend line forming with resistance near 1.2700 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the...
