Since the beginning of the month, the price of Brent crude oil has risen by about 10% — this July could be the best month since June 2022. Yesterday, the price of Brent exceeded USD 82, for the first time since April.
Among the drivers of oil price growth may be:
→ production cuts by Saudi Arabia;
→ restriction of export from the Russian Federation;
→...
Yesterday, the price of BTC/USD fell below the level of 29,700, a support that has been in place for about a month.
What are the reasons for the decline? CNBC writes about:
→ strengthening of the USD on the eve of the Fed's meeting on the interest rate, which puts pressure on the price of bitcoin, denominated in US dollars;
→ an article in the WSJ raising...
The bearish harami is a two-candlestick pattern that highlights that the market is in for a possible reversal from an uptrend to a downtrend. It may benefit traders and technical analysts seeking to spot selling opportunities. This article will outline how to recognise this formation with various bearish harami examples on a price chart and then interpret its...
USD/CAD is rising and might gain pace above the 1.3230 resistance zone.
Important Takeaways for USD/CAD Analysis Today
USD/CAD is rising steadily from the 1.3120 support zone.
There was a break above a major bearish trend line with resistance near 1.3200 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at...
GBP/USD is trading near the 1.2800 support zone.
Important Takeaways for GBP/USD Analysis Today
The British Pound started a fresh decline from the 1.3120 resistance zone.
There is a key bearish trend line forming with resistance near 1.2870 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at...
This week 166 companies that make up 33% of the S&P 500 index will publish their reports for the second quarter. Among them, the second largest company in the index, Microsoft. And here, an interesting situation develops: the fundamental background is quite strong, and technical analysis shows signs of weakness. Judge for yourself.
Fundamental analysis:
→ the...
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
🌐 FXOpen official website: www.fxopen.com
CFDs are complex instruments and come with a high risk of losing your money.
On July 18, we wrote about the vulnerability of the market to a rollback from the block of resistance, which is formed by the level of 1.12 euros per US dollar and the upper line of the rising channel. Since then, the EUR/USD price has fallen by more than 1%.
The most noticeable was yesterday's decline in the price of EUR/USD, which was due, among other things,...
Trading reversals can often lead to successful trades, but identifying them is harder than it may seem. One tool that can offer valuable insights into reversals is the Bill Williams Fractal indicator. In this article, we’ll explore how this indicator works, its uses, and three effective fractal trading strategies.
What Is a Fractal?
In the world of...
Gold price is correcting lower from the $1,988 resistance.
Important Takeaways for Gold Price Analysis Today
Gold prices failed to clear the 1,988 resistance and corrected lower against the US Dollar.
Gold traded below a key bullish trend line with support at $1,980 on the hourly chart at FXOpen.
Gold Price Technical Analysis
On the hourly chart...
Crude oil price is rising as the bulls aim for a move above the $72.20 resistance.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are also moving higher above the $71.50 resistance zone.
· There is a key bullish trend line forming with support near $70.50 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the...
This is the most successful series in almost 6 years. Shares of JNJ helped demonstrate it to the US30 index, which rose by 6% after a strong report — J&J's profit and revenue turned out to be higher than expected. Sales worldwide grew by 6.3% in annual terms.
Unusually for 2023, the Dow Jones US30 is now acting stronger than the Nasdaq 100 technology stock...
Participants in financial markets were closely watching yesterday the data on inflation in the UK, where it is at the highest level among the G7 countries. The news turned out to be positive:
→ CPI was 7.9% (forecast = 8.2%, last month = 8.7%) in annual terms;
→ core CPI dropped from 31-year high from 7.1% to 6.9%.
Consequently:
→ the price of the British pound...
In mid-October 2022, the NFLX share price was about $250; in those days we wrote the post “Is Netflix starting a new bull season?”. Since then, the NFLX stock has more than doubled in price. But after the publication of yesterday's news, everything has changed, hence the headline.
The company added nearly 6 million subscribers in the quarter, with a forecast of...
Discovered by renowned trader Scott Carney in 2011, the Shark harmonic pattern is a relatively new addition to the world of technical analysis. But don't let that deter you – the Shark is an effective tool that can help traders predict future market reversals. In this article, we’ll take a deep dive into the world of the Shark pattern, the steps you need to...
USD/CHF is showing bearish signs below the 0.8650 resistance zone.
Important Takeaways for EUR/USD and USD/CHF Analysis Today
USD/CHF is consolidating losses below the 0.8650 resistance.
There is a key bearish trend line forming with resistance near 0.8590 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at...
EUR/USD started a strong increase above the 1.1150 resistance.
Important Takeaways for EUR/USD Analysis Today
The Euro gained pace against the US Dollar after it broke the 1.1150 resistance.
There is a major bullish trend line forming with support near 1.1225 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart...
The crypto community continues to discuss the victory of Ripple Labs in court against the SEC, expecting that the regulator:
→ also loses in court against Binance, Coinbase;
→ approves Black Rock's Bitcoin ETF application.
Crypto exchanges are resuming trading in the XRP token, and according to media reports, Congressman Richie Torres has appealed to SEC...
