Yesterday, USD/JPY hit 146.74 for the first time since November 2022. The rise in the rate is facilitated by the growing gap in the policies of central banks: while the Bank of Japan has kept the rate below zero since 2016, the Fed has been raising rates since the spring of 2022.
Moreover, on Friday, Powell said the Fed is ready to continue to remain tough in the...
One of the first pieces of advice given to new traders is to “trade with the trend.” That’s where a simple yet effective indicator known as Supertrend comes in. This tool can help you identify and get in early on emerging trends. Therefore, it has found significant popularity amongst crypto day traders. In this article, we’ll take a closer look at the Supertrend...
According to the head of the Fed's Friday words:
→ Strengthening the economy may lead to rising inflation and require new increases;
→ the Fed will tread lightly in upcoming meetings;
→ the Fed is ready to continue raising rates if necessary.
Overall, there were no surprises and the surge in financial market volatility was relatively minor. The dollar index...
NZD/USD is also moving lower and might trade below the 0.5900 zone.
Important Takeaways for NZD/USD Analysis Today
· NZD/USD declined heavily from the 0.5985 resistance zone.
· There was a break below a major bullish trend line with support near 0.5945 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD on...
AUD/USD declined below the 0.6450 and 0.6430 support levels.
Important Takeaways for AUD/USD Analysis Today
· The Aussie Dollar started a fresh decline from well above the 0.6480 level against the US Dollar.
· There was a break below a key bullish trend line with support near 0.6430 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the...
USD/CAD is holding gains above 1.3560 and might start another increase.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD is correcting gains from the 1.3640 resistance zone.
· There is a key bullish trend line forming with support near 1.3585 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen, the...
GBP/USD is struggling to recover above 1.2665.
Important Takeaways for GBP/USD Analysis Today
· The British Pound started a fresh decline from the 1.2720 resistance zone.
· There is a major bearish trend line forming with resistance near 1.2620 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen,...
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.
The US Energy Information Administration said on Thursday that natural gas inventories in US storage rose by 18 billion cubic feet in the week ended Aug. 18. That was below the 29 billion cubic feet increase forecast by analysts polled by S&P Global Commodity Insights.
It is possible that market participants thought that insufficient filling of storage facilities...
At the same time, all the positives associated with a strong Nvidia report were offset by yesterday's decline. Probably, the closer Powell's speech is (his speech at the Jackson Hole symposium, which brought together representatives of central banks, is scheduled for today 17:05 GMT + 3), the more market participants fear his hawkish rhetoric. Note that ECB...
The Vortex indicator is a lesser-known trading tool, but it can serve as a valuable aid in trend detection and confirmation. In this FXOpen article, we will break down the Vortex indicator, its calculation, and how to use it when trading.
What Is the Vortex Indicator (VI)?
The Vortex indicator (VI or VTX) is a versatile technical analysis tool developed by...
The publication of news on the UK PMI index yesterday signaled an acceleration of the downturn in business activity. The index value was 42.5 (values below 50 indicate a slowdown in the economy). This is the thirteenth consecutive reading of the index below 50, with readings below 42.5 last recorded during the height of the pandemic in the spring of 2020.
The...
As the chart shows, US Crude Oil fell below USD 78 yesterday for the first time since July 25. This was facilitated by:
→ fears of a crisis that could follow from the collapse of the Chinese property developer Evergrande;
→ alarming PMI data from different economies. Japan reported a contraction in manufacturing activity for the third month in a row. Business...
The last time this classic indicator dropped below the 20.0 level was in March 2020, when the world panicked due to the spread of the coronavirus.
The extremely low RSI values indicate an extremely oversold market — it was formed as a result of the collapse of the BTC/USD rate on August 17, the reasons for which are not clear.
Among the versions are:
→...
USD/JPY is correcting gains and might test the 144.90 support in the near term.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY struggled near 146.40 and recently started a downside correction.
· There is a major bearish trend line forming with resistance near 145.85 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of...
EUR/USD started a fresh decline from 1.0930.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a fresh decline below the 1.0880 support.
· There was a break below a key bullish trend line with support at 1.0890 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started a...
The Money Flow Index (MFI) is an indicator that measures the flow of money into and out of a particular financial asset and provides insights into the strength and direction of price trends. It’s an oscillator, like the RSI, Stochastic, and Awesome Oscillator. Moreover, it provides similar signals to the Stochastic. Is it worth learning about? Definitely, and in...
