In 2022, a downtrend began in the oil market (shown by the blue channel), which is unfavorable for producing countries.
When the price of Brent crude hit USD 72/BBL in March (1), OPEC+ countries announced production cuts, causing the price to soar towards the upper channel boundary. But the downtrend did not stop.
Last week, the price of Brent crude again...
Crude oil price is declining and might dive if there is a break below $65.00.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are moving lower below $83.75 support.
· There was a break below a major bullish trend line with support near $90.00 on the weekly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the weekly chart of WTI...
Gold price remains supported for more gains above $2,000.
Important Takeaways for Gold Prices Analysis Today
· Gold price rallied toward $2,080 before it started a downside correction against the US Dollar.
· It is now trading above a connecting bullish trend line with support near $1,940 on the weekly chart of gold at FXOpen.
Gold Price Technical...
The Senate, as expected, approved a bill on the ceiling of the US national debt, now it will go to President Biden's signature. The decision will set the course for federal spending for the next two years and suspend the debt ceiling until January 1, 2025, by which time a new episode of the US default drama series can be expected. Bloomberg estimates that US...
Since the beginning of yesterday's trading session, the AUD/USD rate has increased by 1.7%. This is due to the difference in the monetary policies of the Fed and the RBA.
On the one hand, Philadelphia Fed President Patrick Harker said on Thursday that it was time to at least press the stop button for one meeting and see how it goes, referring to the June 13-14...
When trading in the financial markets, having the right tools and indicators can make all the difference. Two popular indicators used by traders are VWMA and VWAP, both of which factor volume data into their calculations.
But what’s the difference between the two, and which one should you consider using? In this guide, we’ll break down both indicators, show how...
NZD/USD is also rising and might surge toward the 0.6145 resistance zone.
Important Takeaways for NZD USD Analysis Today
· NZD/USD is gaining bullish momentum above the 0.6060 support.
· There was a break above a key bearish trend line with resistance near 0.6020 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of...
AUD/USD is moving higher and might climb further higher above 0.6615.
Important Takeaways for AUD USD Analysis Today
· The Aussie Dollar started a fresh increase above the 0.6520 and 0.6550 levels against the US Dollar.
· There was a break above a major bearish trend line with resistance near 0.6520 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical...
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...
