Nasdaq 100 Consolidates Ahead of Major Market Leader Earnings Reports
This week, five companies with market capitalisations exceeding $1 trillion are set to release their quarterly earnings:
→ Alphabet (GOOGL) on October 29
→ Microsoft (MSFT) on October 30
→ Meta Platforms (META) on October 30
→ Apple (AAPL) on October 31
→ Amazon (AMZN) on October 31
These...
McDonald's (MCD) Stock Trades Below $300 Ahead of Earnings Report
The $300 level has proven psychologically significant for McDonald’s (MCD) stock:
→ In summer 2023, bullish investors failed to push the price above this mark, leading to a decline from $298 in July to $246 by October.
→ Again, in January 2024, the price briefly surpassed $300 but quickly...
MA Trading Strategies for Experienced Traders
Despite their simplicity, moving average (MA) trading strategies remain popular with experienced traders looking to refine their market analysis. This article delves into various MA types and four advanced MA strategies, including moving average ribbons, envelopes, and channels, providing actionable insights to...
USD/JPY Chart Analysis: Rate Hits Autumn High
Today’s USD/JPY chart indicates that the U.S. dollar has strengthened against the yen by over 6.6% since the beginning of the month. Starting this trading week, the rate has surpassed 153 yen per dollar, a level not seen since August 31.
This bullish sentiment towards the dollar has been driven by the outcome of...
Market Analysis: USD/JPY Remains In Strong Uptrend
USD/JPY is rising and might gain pace above the 153.85 resistance.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 150.50 and 152.20 levels.
- There was a break above a key contracting triangle with resistance at 152.00 on the hourly chart at FXOpen.
USD/JPY Technical...
Market Analysis: EUR/USD Dives
EUR/USD declined from the 1.0880 resistance and corrected gains.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a fresh decline below the 1.0850 support zone.
- There was a break below a connecting bullish trend line with support at 1.0805 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical...
A Bearish Gap on the Brent Crude Oil Chart
As the XBR/USD chart shows, Brent crude oil prices formed a gap at the start of this week: while Friday’s session closed at 75.60, Monday’s opening price dropped below 72.60.
According to Reuters, this development is tied to the fact that Israel’s recent missile strike on Iran did not impact oil or nuclear facilities,...
What Is a Falling Knife in Trading?
It’s often repeated that traders should ‘never catch a falling knife.’ This phrase highlights the risks of buying into a rapidly declining asset. Understanding what a falling knife is, its causes, and strategies for trading it may help traders navigate these sharp declines more effectively. This article delves into the...
DAX 40 Loses Upward Momentum
Today, Germany's PMI data was released, according to Forex Factory:
→ German Flash Manufacturing PMI: actual = 42.6, expected = 40.7, previous = 40.6;
→ German Flash Services PMI: actual = 51.4, expected = 50.6, previous = 50.6.
The DAX 40 index (Germany 40 mini on FXOpen) showed a slight intraday increase, which could be viewed...
Tesla (TSLA) Shares Surge by 11%
As shown by Tesla's stock chart, trading closed below $213.50 yesterday. However, following the main trading session, the company reported its third-quarter earnings:
→ Earnings per share (EPS): actual = $0.72, expected = $0.59
→ Gross revenue: actual = $25.46 billion, expected = $25.18 billion
Additionally, Tesla forecasted a...
4 of the Best Day Trading Strategies
Day trading is one of the most challenging approaches as it requires traders to make decisions quickly. Therefore, many traders like using established trading strategies. Explore the intricacies of day trading strategies in this article. For those keen on hands-on experience, consider using FXOpen's free TickTrader platform...
General Motors (GM) Shares Surge Nearly 10%
According to the chart for General Motors (GM), the following points stand out:
→ Yesterday, the share price closed above $53, a significant rise from just below $49 the previous day.
→ Since the beginning of the year, the stock has experienced an increase of around 50%.
The sharp rise in price can be attributed to...
Nikkei 225 Index Resumes Its Decline?
In mid-October, the Nikkei 225 index attempted to break through the psychological barrier of 40,000 points but ultimately reversed direction.
This week, the index has continued its downward trend, driven by concerns surrounding the upcoming elections for Japan's House of Representatives scheduled for October 27. According...
Market Analysis: WTI Crude Oil Eyes Recovery
Crude oil is recovering and might rise toward the $73.85 resistance zone.
Important Takeaways for Oil Price Analysis Today
- Crude oil is recovering losses and trading above the $70.50 support.
- There was a break above a connecting bearish trend line with resistance near $70.00 on the hourly chart of XTI/USD at...
Market Analysis: Gold Rallies To New ATH
Gold price started a fresh surge above $2,720.
Important Takeaways for Gold Price Analysis Today
- Gold price started a strong increase from the $2,645 zone against the US Dollar.
- A major bullish trend line is forming with support at $2,735 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On...
How to Master Technical Analysis
Price action traders are avid chart enthusiasts, constantly scouring price charts for valuable insights. Their trading approach is deeply rooted in technical analysis, a method that has been in the books of market participants for centuries. This article will cover technical analysis strategies and go into advanced technical...
Trading with Moving Average Crossovers
Trading indicators and technical analysis are essential components of the financial markets, utilised by traders and investors to analyse price movements, identify trends, and make informed trading decisions. The moving average is an indicator that is used by many traders. This article will cover the best moving averages...
