Market Analysis: Crude Oil Price Signal Bearish Acceleration Crude oil prices declined steadily below the $80.00 support and moved into a bearish zone. Important Takeaways for Oil Prices Analysis Today Crude oil prices extended downsides below the $78.00 support zone. A major bearish trend line is forming with resistance near $78.00 on the hourly chart...
Market Analysis: Gold Price Signal Bearish Acceleration Gold price started a sharp decline from $2,450. Important Takeaways for Gold Prices Analysis Today Gold price climbed higher toward the $2,450 zone before there was a sharp decline against the US Dollar. A key bearish trend line is forming with resistance near $2,375 on the hourly chart of gold at...
Analysis of Currency Correlations in Forex Trading Navigating the complex landscape of forex trading requires a nuanced understanding of currency correlations. This article discusses the various aspects of the concept, from its definition to practical applications in the world of forex trading. Understanding Forex Currency Correlation Acknowledging the...
EUR/USD Price Forms Bullish Reversal Amid Key News Last night, the FOMC meeting minutes were released. According to USNews, there were no major surprises. However, the confirmation of persistent inflation – along with hints that some officials discussed potential future rate hikes – displayed a "hawkish" stance. The dollar index initially rose following the...
After Earnings Report, NVDA Stock Price Exceeds $1,000 For the first time in history, Nvidia's stock price has reached a four-digit number, and its market capitalisation has surpassed $2.5 trillion, ranking third globally after Microsoft and Apple. This surge is due to a strong earnings report, driven by high demand for AI chips: → Earnings per share: actual =...
Market Analysis: EUR/GBP Struggles EUR/GBP declined steadily below the 0.8565 and 0.8550 support levels. Important Takeaways for EUR/GBP Analysis Today EUR/GBP is trading in a bearish zone below the 0.8565 pivot level. There is a connecting bearish trend line forming with resistance near 0.8540 on the hourly chart at FXOpen. EUR/GBP Technical...
Market Analysis: GBP/USD Climbs Steadily GBP/USD is gaining pace above the 1.2640 resistance. Important Takeaways for GBP/USD Analysis Today The British Pound is attempting a fresh increase above 1.2700. There is a key bullish trend line forming with support near 1.2690 on the hourly chart of GBP/USD at FXOpen. GBP/USD Technical Analysis On the...
What Does FOMO Mean in Trading? FOMO, or the fear of missing out, is a common emotion that traders experience. It is more than just an internet slang term. This powerful phenomenon can have a negative impact on trading decisions, leading to impulsive actions and poor risk management. This FXOpen article explores the psychology of FOMO, discusses how to identify...
Gold Price Reaches Historic High According to confirmed information, Iranian President Ebrahim Raisi, considered a potential successor to the country's supreme leader, Ayatollah Ali Khamenei, died in a helicopter crash in a mountainous area near the border with Azerbaijan. The helicopter also carried Foreign Minister Hossein Amir-Abdollahian and other officials,...
Coinbase (COIN) Stock Price Holds at Key Support Level On Thursday, stock market traders were concerned about the sharp drop in Coinbase shares, listed on the Nasdaq, which fell by 9%. This was triggered by rumours that the Chicago-based CME Group is planning to launch cryptocurrency trading, posing a challenge to Coinbase, currently the leading cryptocurrency...
Candlestick Wick Meaning and Trading Strategies Understanding the subtle cues provided by candle wicks can unlock new dimensions in trading strategy development. These seemingly minor details offer profound insights into market sentiment and price action dynamics. This article delves into the meaning behind candle wicks and explores strategic ways to trade them,...
Weekly Market Wrap With Gary Thomson: S&P500, US Dollar, Gold Price, PEP Stocks Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. The S&P500 Has Reached a Significant Resistance Level US Dollar...
The Price of Silver Has Reached Its Highest Level in Over Three Years As indicated by the XAG/USD chart today, the intraday price of silver reached $29.84 per ounce yesterday, while the previous yearly high on 12 April was $29.79. The last time this price was seen was in February 2021. It is worth noting that today the price of silver is behaving more bullishly...
The Share Price of Alibaba (BABA) Has Reached Its Yearly High On 14 May, Alibaba released its first-quarter performance report: → Earnings per share: actual = $1.404, expected = $1.421; → Gross income: actual = $30.716 billion, expected = $30.502 billion. The fact that earnings per share were slightly below expectations did not disappoint investors much, as on...
Market Analysis: NZD/USD Set Sights on Additional Upside NZD/USD is also rising and could aim for a move above the 0.6140 resistance. Important Takeaways for NZD/USD Analysis Today NZD/USD is consolidating gains above the 0.6100 support. There is a key bullish trend line forming with support at 0.6100 on the hourly chart of NZD/USD at FXOpen. ...
Market Analysis: AUD/USD Set Sights on Additional Upside AUD/USD started a decent increase above the 0.6655 resistance. Important Takeaways for AUD/USD Analysis Today The Aussie Dollar found support at 0.6585 and recovered higher against the US Dollar. There is a major bullish trend line forming with support at 0.6670 on the hourly chart of AUD/USD at...
Three of the Best MACD Trading Strategies The Moving Average Convergence Divergence (MACD) is more than just a mouthful—it's a versatile trading indicator that has stood the test of time. This article unpacks the intricacies of this indicator and dives deep into three specific strategies that leverage the MACD with other powerful tools like the Stochastic...
The US Dollar Is Weakening Following Inflation Data Yesterday saw the release of key economic indicators for the US. According to ForexFactory: → Core Price Index (CPI) monthly: actual = 0.3%, expected = 0.4%, previous = 0.4%; → Core Price Index (CPI) annual: actual = 3.4%, expected = 3.4%, previous = 3.5%; → Retail Sales monthly: actual = 0.0%, expected =...