Alongside other titans of the industry, like Dow, Wyckoff, and Elliott, Gann is considered one of the most influential figures in trading. After he developed the Gann indicators, traders picked up his teachings worldwide. In this FXOpen article, we’ll dive into two of the most popular Gann indicators, Gann angles and Gann fans, and look at how they work,...
This is how prices for popular exchange-traded assets changed from March 1 to May 31:
→ The price of the NASDAQ 100 increased by almost 20%
→ The price of the S&P-500 increased by almost 6%
→ The price of gold increased by almost 7%
→ The price of bitcoin increased by almost 14%
→ The price of Ethereum increased by almost 12%
For a long time, cryptocurrencies...
During the first 3 days of this week, the price of EURO STOXX 50 (SX5E) has fallen by more than 3%.
This was facilitated by:
→ lower oil prices on the eve of the OPEC+ meeting scheduled for June 4. The Saudi oil minister urged market speculators to "be careful”;
→ uncertainty about the US debt ceiling. While a deal has been tentatively reached, it has yet to be...
USD/JPY rallied significantly above 140.00 and recently started a downside correction.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY started a major rally above the 138.88 and 140.00 levels.
· There is a major bullish trend line forming with support near 139.65 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY...
EUR/USD started a fresh decline below the 1.0765 support.
Important Takeaways for EUR/USD Analysis Today
· The Euro is declining and showing bearish signs below the 1.0745 resistance 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...
May ends today. During this month, the price of bitcoin decreased by more than 5%, the price of Ethereum remained practically unchanged. But the price of the Ripple coin increased by more than 11%.
There are several reasons for this:
→ Ripple has acquired the Swiss company Metaco, which is engaged in the implementation of digital assets.
→ In an interview last...
As traders, we all know the market can be unpredictable, but by understanding and utilising pullback trading strategies, we can take advantage of temporary price reversals to enter positions at more favourable prices. In this article, we’ll dive into the world of pullback trading, explain the concept of mean reversion, and look at how to use tools like the moving...
On Tuesday morning, the EUR/GBP broke through the low of the year, set last week around 0.8648.
Bearish sentiment in the market is influenced by:
→ discrepancy in bond yields. For example, the yield on 10-year bonds in Germany is 2.43% per annum. And in the UK, 4.37%;
→ worrisome market sentiment ahead of the German inflation news (during the day tomorrow), as...
The VWAP indicator has long been a favourite of day traders. With crypto trading volumes growing, some have begun employing the VWAP to help them decipher this volatile market. In this article, we’ll explain what the VWAP is, how it’s used, and offer two strategies you can start using right away. Let’s dive in!
What Is Volume Weighted Average Price (VWAP)?
...
Since the beginning of the year, the price of MSFT shares has risen by more than 35%, about 5% remaining to a historic high. Perhaps the most important reason for MSFT's stock price to be bullish is the artificial intelligence (AI) hype.
According to the head of Microsoft, AI is a fundamental discovery that can help humanity do better research, learn more, and...
US President Joe Biden and top Republican Kevin McCarthy reached a tentative agreement Saturday night to suspend the federal government's USD 31.4 trillion debt ceiling, ending a months-long deadlock. Biden said that the deal is a compromise, and the parties discussing the ceiling increase will not get everything they want.
The deal has yet to pass congressional...
USD/CAD is correcting gains and approaching the 1.3585 support.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD is correcting gains from the 1.3650 resistance zone.
· There is a declining channel or a bullish flag pattern forming with resistance near 1.3620 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at...
GBP/USD is attempting a fresh increase from the 1.2310 support.
Important Takeaways for GBP/USD Analysis Today
· The British Pound declined steadily from the 1.2475 resistance zone.
· There is a key bearish trend line forming with resistance near 1.2360 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at...
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
CFDs are complex instruments and come with a high risk of losing your money.
Positive news reports for crypto enthusiasts:
→ This week, the official presentation of the Bitcoin Tower project, which can be built in Dubai, took place. Although a building permit has not yet been received, this is quite realistic, given the loyalty of the UAE authorities to cryptocurrency projects.
→ Ron DeSantis, known for his support of cryptocurrencies,...
Yesterday, EUR/USD hit new May’s lows. This week’s latest news contributed to the decline:
→ Germany's GDP in Q1 2023 decreased by 0.3% compared to the previous three months. German media write about the official start of the recession.
→ The US economy in Q1 grew by 1.3% in annual terms.
→ Worrying opinions are spreading about a possible crisis due to the...
Crude oil price is also declining and remains at a risk of more losses below $70.75.
Important Takeaways for Oil Prices Analysis Today
Crude oil prices are also moving lower below $72.80 and $72.00 levels.
There was a break below a major bullish trend line with support near $73.50 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical...
Gold price is struggling below the $1,967 support level.
Important Takeaways for Gold Prices Analysis Today
Gold price failed to clear the $1,982 resistance and trimmed gains against the US Dollar.
It is now following a short-term declining channel with resistance near $1,948 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the...
