The Canadian Dollar: What Every Forex Trader Needs To Know
Among the major currencies covering the largest part of forex trading volume is the Canadian dollar (CAD), colloquially known as the "Loonie" due to the image of a loon bird on the back of the C$1 coin. This article aims to provide a comprehensive understanding of the CAD, a brief overview of its...
XAU/USD Analysis: Gold Price Chart Displays Bearish Signals
Analysing the XAU/USD chart on October 18, we:
→ Established a long-term upward channel (indicated in blue);
→ Suggested that the target for bulls might be the upper red line, drawn parallel to the red corrective channel.
Since then:
→ The gold price rose to the upper red line and the top of the blue...
Market Analysis: NZD/USD Rebound Could Be Limited
NZD/USD is also correcting losses and might recover further if there is a clear move above the 0.6030 resistance.
Important Takeaways for NZD/USD Analysis Today
- NZD/USD is attempting a recovery wave above the 0.5960 resistance.
- There was a break above a major bearish trend line with resistance near...
Market Analysis: AUD/USD Rebound Could Be Limited
AUD/USD is attempting a recovery wave from 0.6540.
Important Takeaways for AUD/USD Analysis Today
- The Aussie Dollar found support near 0.6540 and is now recovering against the US Dollar.
- There was a break above a key bearish trend line with resistance at 0.6575 on the hourly chart of AUD/USD at...
Warren Buffett Moves to Cash
On August 30, when the price of Berkshire Hathaway's Class B shares (BRK.B) surpassed $465, we noted that:
→ the stock was forming an ascending channel (shown in blue);
→ as the price neared $475, the likelihood of a slowdown in the bullish trend increased.
Since then (indicated by the arrow):
→ the price hit the upper channel...
What Is a Trading Journal, and How Traders Keep One?
For traders, keeping a trading journal is an important activity that helps them improve their trading skills. A trading journal is a systematic record-keeping tool that is used to document trades, strategies, and outcomes. It is a way to track performance by recording the entry and exit points, the reasons for...
Weekly Market Wrap With Gary Thomson: NASDAQ 100, US Dollar, GOOGLE, MSFT Shares Price
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
- NASDAQ 100 CONSOLIDATES AHEAD OF MAJOR MARKET LEADER EARNINGS...
FTSE Index Rebounds from Near Three-Month Low
The chart for the British FTSE 100 index (UK 100 on FXOpen) illustrates:
→ Indicated by the red arrow: Yesterday, the index fell below the 8100 level for the first time since early August, driven by bearish sentiment in the U.S. stock market following reports from Microsoft (MSFT) and Meta Platforms (META), as we...
How AI is Becoming a Bearish Factor for the Nasdaq 100
In 2024, the Nasdaq 100 index (US Tech 100 mini on FXOpen) has risen by approximately 20%, with optimism around the integration of artificial intelligence (AI) acting as one of the bullish drivers.
However, yesterday's reports from Microsoft (MSFT) and Meta Platforms (META) indicated that AI, as a factor...
Microsoft (MSFT) Shares Decline Despite Strong Earnings Report
On 9 October, our analysis of Microsoft (MSFT) suggested that the stock price:
→ Was forming an ascending channel (shown in blue on the chart);
→ Could see a rebound from its lower boundary (indicated by an arrow).
Since then, the price indeed moved upward from this support around the $411 level,...
What Is a Parabolic Arc Pattern, and How Can You Trade It?
The parabolic arc pattern is a significant formation in technical analysis, showcasing rapid, exponential price movements that signal significant bullish momentum followed by sharp reversals. This article delves into identifying, trading, and managing the risks associated with parabolic arcs.
...
Technical Analysis of USD/CHF: Rate Reaches Key Resistance Level
As seen on the USD/CHF chart, the pair has been moving within a descending channel (highlighted in red) since May.
In September, price action confirmed that the 0.84000 level, near the lower channel boundary, serves as strong support—after several unsuccessful attempts to break below it, the...
Alphabet Inc. (GOOGL) Shares Rise to $180 Following Earnings Report
On September 10, we noted that GOOGL shares:
→ Were forming an ascending channel (highlighted in blue on the chart below, updated with the latest trading data);
→ Could begin to rebound from the psychological support level of $150 (indicated by an arrow).
Since then, the price did indeed turn...
Market Analysis: EUR/GBP Struggles
EUR/GBP declined steadily below the 0.8330 and 0.8325 support levels.
Important Takeaways for EUR/GBP Analysis Today
- EUR/GBP is trading in a bearish zone below the 0.8350 pivot level.
- There is a connecting bearish trend line forming with resistance near 0.8330 on the hourly chart at FXOpen.
EUR/GBP Technical...
Market Analysis: GBP/USD Recovers
GBP/USD is attempting a recovery wave above the 1.2950 resistance.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is attempting a fresh increase above 1.2950.
- There is a key rising channel forming with support near 1.2980 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the...
What Is a Petrodollar and How Does It Affect the Global Economy?
The concept of petrodollars is an insightful topic to study. The petrodollar isn’t a specific currency but a financial system that reflects economic and political forces that have shaped international relations for decades. This concept is critical to understanding global trade dynamics and...
Nasdaq 100 Consolidates Ahead of Major Market Leader Earnings Reports
This week, five companies with market capitalisations exceeding $1 trillion are set to release their quarterly earnings:
→ Alphabet (GOOGL) on October 29
→ Microsoft (MSFT) on October 30
→ Meta Platforms (META) on October 30
→ Apple (AAPL) on October 31
→ Amazon (AMZN) on October 31
These...
McDonald's (MCD) Stock Trades Below $300 Ahead of Earnings Report
The $300 level has proven psychologically significant for McDonald’s (MCD) stock:
→ In summer 2023, bullish investors failed to push the price above this mark, leading to a decline from $298 in July to $246 by October.
→ Again, in January 2024, the price briefly surpassed $300 but quickly...
