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...
USD/CHF is rising and might aim a move toward the 0.9060 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.9000 resistance zone.
· There is a key bearish trend line forming with resistance near 0.9020 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 from the 1.0830 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro struggled to clear the 1.0845 resistance against the US Dollar.
· There is a major bearish trend line forming with resistance near 1.0800 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at...
The FTSE 100 index is rapidly declining on Wednesday morning amid news of another spike in inflation. The Core CPI (excluding energy, food and tobacco prices) reached 6.8%, the highest in over 30 years. Market participants are now almost certain that the Bank of England will raise interest rates at its next meeting.
The UK100 chart (a tool that reflects the...
While Coinbase is launching an advertising campaign in Washington to convey to government officials that cryptocurrencies are technologies that can move the country forward, Hong Kong has taken a step towards a regulated cryptocurrency market.
The Hong Kong Securities and Futures Commission (SFC) announced on May 23 that rules for retail investors to trade...
As the USD/JPY chart shows, the Japanese currency exchange rate exceeded 138.8 yen per dollar this morning – the last time such a yen rate against the US dollar was fixed was in November 2022.
The USD/JPY peak was helped by statements from the Fed on Monday, signaling that monetary policy could remain tight for a long time to bring inflation back to the 2%...
Exactly 13 years ago, programmer Laszlo Heinitz, for the first time in history, paid for a real product with bitcoins — two Papa John's mushroom pizzas with sausages, tomatoes and onions. The purchase cost him “only” 10k bitcoins (25 USD at the exchange rate at that time, almost $270 million at the current price of 1 bitcoin in US dollars).
Then cryptocurrencies...
