AUD/USD struggled to stay above 0.7000 and corrected lower.
Important Takeaways for AUD/USD Analysis
· The Aussie Dollar started a downside correction from the 0.7150 zone against the US Dollar.
· There is a crucial bearish trend line forming with resistance near 0.6900 on the weekly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the weekly chart...
On Friday, the Japanese stock market index Nikkei 225 once again updated the maximum of the year. During this week, the bulls have overcome:
→ the psychological level of USD 30k;
→ the 2022 high around 30,800.
The strong momentum in the Nikkei 225 market is driven by:
→ the weak yen;
→ a strong reporting season for Japanese companies;
→ the news about...
This is reported by CNBC with reference to the opinion of a hedge fund manager who believes that AI-related demand will serve as a growth driver.
→ According to Goldman Sachs analysts, AI can increase the profits of S&P 500 companies by 30% in the next 10 years.
→ NVIDIA raises its FY2024 processor sales forecast due to demand for AI.
→ Billionaire Stanley...
On Wednesday morning, the dollar index exceeded the high of April. The two following factors contributed to the strengthening of the USD:
→ Growing drama with public debt. Yesterday it became known that President Joe Biden and a senior Republican in Congress, Kevin McCarthy, are close to an agreement to raise the US national debt ceiling, but the decision has not...
Twitter owner Elon Musk said that Linda Yaccarino, who until recently headed advertising at NBCUniversal (her team earned about USD 100 billion), will become the new director of the social network.
Here are the points that Musk made in an interview with CNBC:
→ Twitter is a very advertising dependent business and Linda is incredibly strong at it. I will continue...
USD/JPY is showing positive signs but must clear 137.30 to start a fresh increase.
Important Takeaways for USD/JPY Analysis
· USD/JPY corrected lower from the 152.00 resistance and found support at 127.20.
· There is a connecting bullish trend line forming with support at 133.00 on the weekly chart at FXOpen.
USD/JPY Technical Analysis
On the weekly chart...
EUR/USD started a decent recovery above the 1.0500 resistance.
Important Takeaways for EUR/USD Analysis
· The Euro broke a few hurdles near 1.0500 and 1.0820 against the US Dollar.
· There was a break above a key bearish trend line with resistance near 1.0500 on the weekly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the weekly chart of EUR/USD...
The daily E-mini S&P 500 chart shows that the ATR indicator (14) is in the 2023 lows, dropping below the value of 40.
What can low values of the ATR indicator mean, indicating a decrease in volatility?
1→ Remember the proverb “Sell in May and Go Away”, implying that the stock market is usually inactive starting from May. Are traders already on vacation after the...
The price movements affecting crude oil have been fascinating over the past year and a half.
During the period in which many Western governments imposed lockdowns on their population, oil was trading at relatively high prices because of logistical and supply chain difficulties created by enforced stay-at-home orders, whilst nations in Asia such as India, Thailand...
USD/CAD is consolidating and might rise further toward 1.4000.
Important Takeaways for USD/CAD Analysis
· USD/CAD is facing strong resistance near the 1.3750 zone.
· It is trading inside a key contracting triangle with resistance at 1.3750 on the weekly chart at FXOpen.
USD/CAD Technical Analysis
On the weekly chart of USD/CAD at FXOpen, the pair started a...
GBP/USD started a steady increase above the key 1.1880 resistance.
Important Takeaways for GBP/USD Analysis
· The British Pound was able to clear the 1.1880 and 1.2000 resistance levels.
· There was a break above a major bearish trend line with resistance near 1.2250 on the weekly chart of GBP/USD on FXOpen.
GBP/USD Technical Analysis
On the weekly chart of...
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.
Kitco is relaying an opinion on the price of gold from Karen Karniol-Tambour, co-chief investment officer at Bridgewater Associates:
→ Gold is undervalued.
→ Gold is supported by the tense geopolitical situation, including the military operations in Ukraine.
→ Inflation is volatile. There is a possibility that purchasing power will be lost.
It looks like a...
Are you looking to add harmonic patterns to your trading arsenal? You can try the Crab pattern. In this article, we’ll explore the basics of Crab patterns, the key rules and requirements you should be aware of, and learn how to use this versatile tool across all markets.
About the Crab Pattern
The Crab pattern is a harmonic pattern used in technical analysis...
Crude oil price is correcting gains and might decline toward the $68.85 support.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are also moving lower below $72.00 and $71.50 levels.
· There was a break below a major bullish trend line with support near $73.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the...
Gold price is moving lower below the $2,025 support.
Important Takeaways for Gold Prices Analysis Today
· Gold price failed to clear the $2,060 resistance and corrected gains against the US Dollar.
· It broke a key contracting triangle with support near $2,025 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of Gold at...
USD/CHF is moving lower and might decline further toward the 0.8860 support.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is showing a few bearish signs below the 0.8930 resistance zone.
· There is a key bearish trend line forming with resistance near 0.8925 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF...
EUR/USD started a fresh decline from the 1.1050 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a fresh decline from the 1.1050 resistance against the US Dollar.
· There is a major bearish trend line forming with resistance near 1.1000 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
