AUD/USD at a Critical Support Level
The AUD/USD chart reveals that since late October, the pair has been in a downtrend. This is largely driven by monetary policy differences: while the Federal Reserve has begun cutting interest rates, the Reserve Bank of Australia (RBA) has yet to initiate rate reductions.
Tomorrow, the RBA will announce its decision on...
Microsoft (MSFT) Stock Hits a 4.5-Month High
On 31 October, our analysis of Microsoft (MSFT) stock highlighted:
→ The price is forming a long-term upward channel, illustrated in blue.
→ The channel’s lower boundary serves as a significant support level.
On Friday, MSFT stock climbed to $445, its highest level since mid-July, buoyed by news that OpenAI may grant...
What Are Lagging Indicators, and How Can You Use Them in Trading?
Lagging indicators are fundamental tools in technical analysis, helping traders confirm trends and assess market momentum using historical price data. This article explores what lagging indicators are, the types available, and how traders use them in their strategies. We’ll also discuss their...
Market Analysis: WTI Crude Oil Faces Continued Struggles
Crude oil is showing bearish signs and might decline below $66.80.
Important Takeaways for Oil Price Analysis Today
- Crude oil prices failed to clear the $70.00 region and started a fresh decline.
- There is a connecting bearish trend line forming with resistance at $67.50 on the hourly chart of...
Market Analysis: Gold Consolidates
Gold price is consolidating above the $2,600 support zone.
Important Takeaways for Gold Price Analysis Today
- Gold price started a recovery wave from the $2,610 zone against the US Dollar.
- A key bearish trend line is forming with resistance at $2,650 on the hourly chart of gold at FXOpen.
Gold Price Technical...
Weekly Market Wrap With Gary Thomson: DAX 40, Yen, Natural Gas, Apple 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
- DAX 40 Index Closes Above 20,000 for the First Time
- Yen Strengthens on Rate...
Uber Shares Drop Nearly 10%
In 2024, Uber Technologies (UBER) stock has come under significant pressure, partly due to mounting competition:
→ Tesla is reportedly advancing its autonomous taxi development.
→ Yesterday, Waymo (owned by Alphabet, Google’s parent company) announced plans to train its driverless taxis in Miami in 2025, aiming to launch the service...
Natural Gas Prices Rebound from 2.5-Month Low
On 19 November, we analysed the natural gas price chart, noting:
→ the formation of an upward channel (marked in blue);
→ a potential bullish attempt to break the key $3.200 level, which had acted as resistance (highlighted with arrows).
As seen on the XNG/USD chart, the price did rise above $3.200 but failed to...
Meta Platforms (META) Stock Surges Above $600
On 19 November, we analysed the Meta Platforms (META) stock chart, highlighting:
→ the formation of a long-term upward channel (shown in blue);
→ the importance of the psychological $600 level;
→ the scenario of a bullish trend resumption with a rebound from the channel's lower boundary.
Since then:
→ as...
What Countries Use the US Dollar?
The US dollar is more than just the currency of the United States; it's a global powerhouse used by countries worldwide. Whether as legal tender or alongside local currencies, the US dollar plays a significant role in international trade and finance. In this article, we’ll explore what countries use American dollars, where it...
DAX 40 Index Closes Above 20,000 for the First Time
On 24 October, we noted that the DAX 40 stock index (Germany 40 mini on FXOpen) was losing bullish momentum and could break downward from the Bearish Rising Wedge pattern (marked with black lines).
Since then, as indicated by the orange arrow on the DAX 40 chart:
→ The price dropped below the pattern.
→ It...
Apple (AAPL) Stock Hits Record High
The Apple (AAPL) stock chart reveals:
→ Yesterday’s closing price exceeded $242 for the first time in history.
→ The stock has risen nearly 30% since the start of 2024.
→ Over the past 30 days, it has gained approximately 9%.
Dan Ives, an analyst at Wedbush, commented that: "Wall Street is beginning to grasp that the iPhone...
Market Analysis: NZD/USD Under Pressure, Downtrend Persists
NZD/USD is also moving lower and might struggle to recover above 0.5900.
Important Takeaways for NZD/USD Analysis Today
- NZD/USD declined steadily from the 0.5930 resistance zone.
- There was a break below a short-term contracting triangle with support at 0.5865 on the hourly chart of NZD/USD at...
Market Analysis: AUD/USD Under Pressure, Downtrend Persists
AUD/USD declined below the 0.6500 and 0.6455 support levels.
Important Takeaways for AUD/USD Analysis Today
- The Aussie Dollar started a fresh decline from well above the 0.6500 level against the US Dollar.
- There is a connecting bearish trend line forming with resistance at 0.6465 on the hourly...
Cross Currency Pairs and Strategies Connected with Them
Cross currency forex trading has emerged as an intriguing segment that presents unique opportunities and challenges. In this article, we discuss commonly traded pairs, liquidity challenges, and the factors influencing cross exchange rates. Additionally, we present three trading strategies to help traders...
Super Micro Computer (SMCI) Shares Surge Nearly 30%
Yesterday, the S&P 500 (tracked as US SPX 500 mini on FXOpen) hit another record high for the year, with Super Micro Computer (SMCI) leading the charge. SMCI shares soared by 28.50% during the session.
SMCI has been highly volatile this year. In the first 2.5 months, its stock price skyrocketed over 300%,...
What Are 52-Week Highs and Lows, and How Do Traders Use Them?
The 52-week high and low are crucial metrics in stock trading, providing insights into a stock’s performance over the past year. These levels offer valuable guidance on potential breakouts and reversals. In this FXOpen article, we’ll explore their importance for determining reversals and breakouts and...
XAG/USD Analysis: Silver Price Balances at Key Support
As reflected in the XAG/USD chart, the price of silver this morning is trading near $30.2, just above a critical support zone formed by:
→ The psychological level of $30.00;
→ The lower boundary of the ascending channel. As indicated by the blue arrows, this lower boundary has consistently provided support,...
