Yesterday, the head of the Bank of England, Andrew Bailey, spoke about the need to complete the work on suppressing inflation, which is now higher than in any other major country in the West. Market participants expect that at the next meeting of the Bank of England (it will be held on August 3) a new increase in interest rates will be announced.
Bailey's last...
While not the most glamorous aspect of trading, backtesting is crucial for developing a successful crypto trading strategy. In this article, we’ll explore the importance of backtesting, its advantages and disadvantages, and the different methods available for backtesting your crypto technique.
What Is Backtesting in Crypto?
Backtesting is a method for...
Bloomberg writes that the big hedge funds have flipped and are now taking a short position on the dollar in the expectation that the Fed is nearing the end of its cycle of raising interest rates.
It is possible that the weakness of the USD against a basket of other currencies is influenced by the announced intentions of the BRICS countries to issue a currency...
This week, the reporting season of US companies for the Q2 will begin. Traditionally, the first to report on the results of their activities are large banks:
→ July 14: JPMorgan, Citi and Wells Fargo
→ July 18: BofA and Morgan Stanley
→ July 19: Goldman Sachs
FT analysts suggest that banks will show a large increase in loan losses due to rising interest rates....
USD/CAD is correcting gains and trading below the 1.3300 support.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD declined below the 1.3320 and 1.3300 support levels.
· It traded below a key bullish trend line with support at 1.3320 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen, the pair started a...
GBP/USD started a strong increase and retested 1.2850.
Important Takeaways for GBP/USD Analysis Today
· The British Pound started a steady increase above the 1.2760 resistance.
· There was a break above a connecting trend line with resistance near 1.2780 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at...
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 OPEC+ meeting was held this week. CNBC reports the words of its head, Haitham al-Ghais, here’s a brief summary:
→ the organization (which currently consists of 13 countries) is looking for new members;
→ the macroeconomic situation is unclear due to the banking crisis, high inflation, the possibility of a recession and new outbreaks of COVID;
→ nevertheless,...
In an interview with Fox Business, the CEO of Black Rock fund (over $8 trillion under management), Larry Fink, made some positive comments about bitcoin. Briefly:
→ bitcoin can become a catalyst for the tokenization of various assets and securities, which, in turn, can lead to a revolution in the financial sector;
→ bitcoin has unique properties that distinguish...
Gold price is moving lower below the $1,918 support.
Important Takeaways for Gold Prices Analysis Today
· Gold price failed to clear the $1,930 resistance and start a fresh decline against the US Dollar.
· A major bearish trend line is forming with resistance near $1,925 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart...
Earlier we wrote about the reasons for the weak behavior of the UK stock market.
Firstly, it is the highest inflation among the G7 countries.
Yesterday JP Morgan analysts suggested that the base rate in the UK could be raised to 7% under certain scenarios. And the likelihood of a hard landing for the British economy next year is rising due to the impact of...
Since the beginning of the year, the NFLX share price has risen by about 55% (for comparison, the S&P 500 index growth was 16% over the same period), and yesterday NFLX reached a price of USD 450 per share — the highest since the beginning of the year.
Bullish sentiment in the market was facilitated by news from analysts at Goldman Sachs, who upgraded the rating...
Understanding market trends is critical to trading success. The Guppy Multiple Moving Average is a powerful tool that can help traders gauge trends and identify potential reversals. In this article, we’ll explore the basics of the Guppy Multiple Moving Average, its various applications, and how to trade its signals.
What Is the Guppy Multiple Moving Average?...
Position trading is a time-tested approach to the financial markets, allowing traders to profit from long-term trends. In this article, we’ll explore the top four strategies for positional trading, discuss the features of successful position traders, and briefly examine three essential indicators that can help with your position trading journey.
What Is Position...
USD/CHF is rising and might aim a move toward the 0.9015 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.8965 resistance zone.
· There is a key bearish trend line forming with resistance near 0.8980 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair...
EUR/USD started a fresh decline from the 1.0930 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro struggled to clear the 1.0930 resistance against the US Dollar.
· There is a major bearish trend line forming with resistance near 1.0890 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at...
There is some lull (consolidation) in the USD/JPY market, which is evidenced by the width of the Bollinger bands, which dropped to the lows of the end of February on the 4-hour chart. Bank holidays in the US in connection with the celebration of Independence Day contributed to the decrease in volatility.
However, the calm could be replaced by a storm.
The...
Despite a quiet start to the week for the US holidays, there is still plenty going on. The Reserve Bank of Australia unexpectedly kept interest rates at 4.1%, sending the Aussie dollar lower before flying back like a boomerang to where it was trading, at 0.6680 against the USD.
On Wednesday (21:00), we get to see the minutes of the FOMC's last meeting, where they...
