Market Analysis: USD/JPY Bulls Seem Unstoppable
USD/JPY surged above the 160.00 and 161.40 resistance levels.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 160.50 and 161.40 levels.
- There is a connecting bullish trend line forming with support near 161.55 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
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Market Analysis: EUR/USD Jumps
EUR/USD is climbing higher above the 1.0800 level.
Important Takeaways for EUR/USD Analysis Today
- The Euro started a decent increase above the 1.0780 pivot level.
- There is a key bullish trend line forming with support near 1.0820 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly...
Analysts Raise NVDA Forecasts, Stock Price Rises
According to FactSet, in July, seven reputable analysts have raised their target prices for NVDA stock. KeyBanc analyst John Vinh, for instance, increased his target from $130 to $180 (approximately 33% above the current price).
Following these target increases, Nvidia's stock has risen, closing above the...
Analysis of NZD/USD: The "kiwi" sharply fell after the central bank's decision
The Reserve Bank of New Zealand (RBNZ) kept the interest rate unchanged at 5.5% on Wednesday.
The decision to maintain the interest rate was anticipated. However, market participants noted a shift in the tone of the RBNZ's official statements. In May, the bank indicated that the...
How to Trade a Break of a Trendline
Trading broken trendlines is a critical aspect of technical analysis. Understanding how to interpret and act upon the break of trendlines can make a significant difference to a trader's performance. This FXOpen article delves into the intricacies of trading broken trendlines, providing insights, strategies, and risk management...
XAU/USD Analysis: Gold Price Falls from Six-Week High
As shown by the XAU/USD chart, on Friday, 5 July, the price of gold rose above the $2390 level for the first time since 22 May. According to Reuters, this increase occurred following the release of key US employment data, which indicated a softening labour market, raising expectations of a Federal Reserve...
Brent Crude Oil Price Hits the Highest Level Since 1 May
Analysing the oil price on 19th June, we wrote that:
→ Amidst increasing demand for oil during the holiday season, Goldman Sachs analysts suggested that by the end of summer, the Brent price could rise to $86 per barrel with an upper limit around $90.
→ The price could reach the upper boundary of a...
The EUR/GBP rate fluctuates under the influence of political factors
On 10th June, we wrote that the EUR/GBP rate fell to a 21-month low after the European Parliament elections. Political fundamental factors continue to influence this pair.
As Reuters reports:
→ The euro is down on Monday amid unexpectedly strong results for the left-wing forces in the French...
How to Trade on Support and Resistance Reversals
Trading in the financial markets can be a complex endeavour, but it may become more manageable when traders have a solid grasp of support and resistance levels. Recognising support and resistance reversals is a crucial skill that may enhance one's trading performance. In this FXOpen article, we will learn the...
Weekly Market Wrap With Gary Thomson: S&P 500, USD/CAD, Gold Price, TSLA Stock
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.
- S&P 500: Mid-Year Prospects Analysis
- USD/CAD Breaks Key Support
- Gold...
FTSE 100 Index Behaves Bullishly Amid Elections
On Friday, the FTSE 100 index rose by 0.4% to 8273 points, continuing its 0.9% rise on Thursday. According to Trading Economics, the centre-left Labour Party, as expected, won the parliamentary elections and secured a majority, ousting the Conservative Party after 14 years in power.
The Labour Party emphasised the...
GOOG Stock Sets Historic Record
As the chart shows, the GOOG stock price yesterday surpassed the June 27th high and set a historic record at $185.88.
What contributed to this?
→ Overall bullish sentiment in the US stock market. Incidentally, the S&P 500 index (US SPX 500 mini on FXOpen) also set a historic record yesterday;
→ Positive market expectations ahead...
Market Analysis: Oil Prices Soar, More Gains Ahead?
Crude oil prices are gaining bullish momentum and might soon test $85.00.
Important Takeaways for Oil Prices Analysis Today
- Crude oil prices extended gains above the $82.00 and $83.00 resistance levels.
- There is a key bullish trend line forming with support at $82.75 on the hourly chart of XTI/USD at...
Market Analysis: Gold Prices Soar, More Gains Ahead?
Gold price started a fresh increase above the $2,342 resistance level.
Important Takeaways for Gold Prices Analysis Today
- Gold price started a steady increase from the $2,320 zone against the US Dollar.
- A connecting bullish trend line is forming with support near $2,355 on the hourly chart of gold at...
Buy the Rumour, Sell the News: Trading Strategy in Forex and Crypto
Navigating the volatile terrain of forex and cryptocurrency markets demands a strategic edge, one that ‘buy the rumour, sell the news’ can offer. This method, rooted in market psychology, plays on the anticipatory reactions of traders to unconfirmed information about significant events.
In...
Market Analysis: NZD/USD Set for Steady Gains
NZD/USD is showing positive signs and might attempt a fresh increase above 0.6120.
Important Takeaways for NZD USD Analysis Today
- NZD/USD is gaining pace above the 0.6100 support zone.
- There is a major bullish trend line forming with support at 0.6100 on the hourly chart of NZD/USD at FXOpen.
NZD/USD...
Market Analysis: AUD/USD Set for Steady Gains
AUD/USD is correcting gains from the 0.6735 zone.
Important Takeaways for AUD USD Analysis Today
- The Aussie Dollar started a downside correction from 0.6735 against the US Dollar.
- There is a key bullish trend line forming with support at 0.6700 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical...
USD/CAD Breaks Key Support
On 25 June, we noted that the USD/CAD price had approached a crucial support level—the lower boundary of a converging triangle, which indicated a relative balance of supply and demand in the market during May.
Since then, the price has bounced twice from this level (as indicated by the arrow).
Today, as the USD/CAD chart shows, the...
