Market Analysis: AUD/USD Sink Further, Losses Mount
AUD/USD declined below the 0.6400 and 0.6375 support levels.
Important Takeaways for AUD/USD Analysis Today
- The Aussie Dollar started a fresh decline from well above the 0.6400 level against the US Dollar.
- There is a connecting bearish trend line forming with resistance at 0.6340 on the hourly chart...
Nvidia (NVDA) Stock Price Falls to a Two-Month Low
While the Nasdaq 100 index (US Tech 100 mini on FXOpen) climbed to an all-time high, Nvidia's (NVDA) stock price dropped below $131 during yesterday's trading session for the first time since mid-October. This bearish behaviour suggests a weakening of Nvidia's leading position. What is the reason?
A key driver...
Nasdaq 100 Reaches Record High
On 29th October, analysing the Nasdaq 100 (US Tech 100 mini on FXOpen) chart, we:
→ Drew a blue upward channel relevant for 2024.
→ Noted that the price was in a consolidation phase (indicated by narrowing purple lines) at the channel's median, suggesting a potential balance of supply and demand forces.
→ Warned that earnings...
How to Build a Forex Trading Indicator
In the dynamic world of financial trading, understanding how to build a trading indicator is a valuable skill. This article is designed to navigate you through the essential steps of creating your own trading indicators, offering a blend of technical and practical insights to potentially enhance your market analysis and...
Broadcom Inc. (AVGO) Stock Price Soars Nearly 20%
The chart shows that at the end of last week, Broadcom Inc. (AVGO) stock price surged nearly 20%, breaking the psychological barrier of $200 per share and pushing the company’s market capitalisation to $1 trillion.
Last week, the company released its quarterly earnings report. The actual figures were close to...
Market Year Wrap 2024: Key Highlights and Outlook for 2025
The year 2024 has been a transformative period in the global financial markets, characterised by a mix of challenges and opportunities. Inflation battles, monetary policy shifts, economic uncertainties, and surprising bouts of optimism dominated the landscape. These forces created a volatile yet dynamic...
Why Is the Mexican Peso So Liquid?
The Mexican peso, a dynamic player in the global forex market, embodies a unique blend of historical resilience and modern financial attractiveness. As we delve into the reasons behind its impressive liquidity, this article offers valuable insights for traders and investors eager to understand the intricacies and opportunities...
Market Analysis: USD/CAD Builds on Gains
USD/CAD is rising and might aim for more gains above the 1.4245 resistance.
Important Takeaways for USD/CAD Analysis Today
- USD/CAD is showing positive signs above the 1.4200 support zone.
- There is a contracting triangle forming with resistance at 1.4245 on the hourly chart at FXOpen.
USD/CAD Technical Analysis...
Market Analysis: GBP/USD Faces Trouble
GBP/USD started a fresh decline below the 1.2720 zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound started another decline from the 1.2800 resistance zone.
- There is a short-term declining channel forming with resistance at 1.2650 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical...
Market Year Wrap With Gary Thomson: 2024 Market Insights & 2025 Outlook
As we approach the close of 2024, it’s time to reflect on results and think of potential opportunities for the year ahead. Join Gary Thomson, the COO of FXOpen UK, as he sums up the key market trends that shaped 2024 and provides insights on what to expect in 2025.
- Inflation and Interest...
GBP/USD Declines Following UK GDP Data Release
Today, the UK GDP changes for October were published, as reported by Forex Factory (month-on-month):
→ Actual = -0.1%;
→ Forecast = +0.1%;
→ Previous = -0.1%.
The data revealed a slowing UK economy, defying analysts’ optimistic expectations. According to Reuters and other outlets, the latest GDP figures:
→ Could...
Adobe (ADBE) Shares Plunge Over 13%
On Wednesday evening, Adobe Inc. (ADBE) released its quarterly financial results:
→ Earnings per share: Actual = $4.81, Expected = $4.66;
→ Revenue: Actual = $5.61 billion, Expected = $5.54 billion.
Despite exceeding analyst expectations and showing growth compared to the previous quarter, Adobe’s stock opened Thursday with a...
Gold Price Hits Monthly High
The XAU/USD chart shows:
→ A notable peak in November near the $2716 level (indicated by the first arrow);
→ Yesterday, gold surpassed this peak, reaching a new one-month high.
Factors Supporting Bullish Sentiment
→ Yesterday’s US Consumer Price Index data met analysts’ expectations. This bolstered market speculation about a...
Tesla (TSLA) Shares Surge to a New All-Time High
The chart for Tesla (TSLA) shares reveals:
→ At the beginning of December, the price was around $350;
→ Yesterday, the trading session closed above $420, surpassing the previous all-time high near $410 set in 2021.
The primary driver of this bullish sentiment appears to be the partnership between Elon Musk and...
What Is Quantitative Tightening and How Does It Work in Financial Markets?
Quantitative tightening (QT) is a critical tool central banks use to control inflation by reducing the money supply. In this article, we’ll break down how QT works, its impact on financial markets, and how it influences the broader economy. Read on to learn more about the effects of QT...
Alphabet Inc. (GOOGL) Shares Rise Over 5% in a Single Day
As the chart indicates, during yesterday’s trading session, shares of Alphabet Inc. (GOOGL), Google’s parent company, climbed to their highest level since July. This surge was driven by market participants' reaction to the company unveiling Willow, a quantum computing chip. According to Google, this chip...
USD/CAD Exchange Rate at a 56-Month High
As evidenced by the USD/CAD chart, yesterday the rate climbed above 1.4190 – a level not seen since April 2023, when the world was gripped by panic over the spread of the coronavirus.
Today, the weakness of the Canadian dollar relative to the USD is being influenced by a rich fundamental backdrop. As reported by the...
Market Analysis: USD/CHF Builds Momentum
USD/CHF is rising and might aim for a move toward the 0.8880 resistance.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF is showing positive signs above the 0.8800 resistance zone.
- There was a break above a major bearish trend line with resistance at 0.8785 on the hourly chart at FXOpen.
USD/CHF...
