Analysis: EUR/USD Close to Year’s Low after ECB Decision
As predicted by analysts, the European Central Bank did not change the interest rate yesterday, keeping it at = 4.50%. This morning the EUR/USD rate is near the psychological level of 1.0700, which approximately corresponds to the 2024 low.
The key driver of the euro's decline is the prospect that the ECB...
Market Analysis: Gold Price Hits New High
Gold price surged toward the $2,400 zone and traded to a new all-time high.
Important Takeaways for Gold Price Analysis Today
Gold price started a strong increase above the $2,350 zone against the US Dollar.
It broke a key bearish trend line with resistance at $2,345 on the hourly chart of gold at FXOpen.
...
Market Analysis: Crude Oil Price Consolidates
Crude oil is attempting a fresh increase above the $85.00 zone.
Important Takeaways for Oil Price Analysis Today
Crude oil is consolidating above the $84.00 support.
There is a connecting bearish trend line forming with resistance near $85.60 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical...
How to Use the Best Klinger Oscillator
In the ever-evolving world of trading, finding the right tools and indicators to stay ahead of the game is crucial. One such tool that has withstood the test of time and continues to be popular among traders in 2023 is the Klinger oscillator. In this article, we will discuss what the Klinger oscillator is, how it works, and...
USD/JPY Rises to Highest Since 1990
This morning the USD/JPY rate is around 153.20 yen per US dollar, which was facilitated by a sharp strengthening of the dollar against the backdrop of news about inflation in the United States. Thus, the yen weakened to levels last seen in mid-1990.
At the same time, an important event occurred — a bullish breakdown of the...
Inflation Data Sharply Strengthens the US Dollar
Data on consumer prices and core inflation published yesterday exceeded expectations. According to ForexFactory:
→ Core CPI in monthly terms: actual = 0.4%, expected = 0.3%, a month ago = 0.4%;
→ CPI in annual terms: actual = 3.5%, forecast was = 3.4%, previous value = 3.2% with a target value of 2%.
As a result...
NZD/USD Rate Increases after the Decision of the Reserve Bank of New Zealand
This morning the Reserve Bank of New Zealand (RBNZ) decided to keep interest rates unchanged at 5.5%:
→ the decision to keep the interest rate at this high level is made for the sixth time in a row;
→ the RBNZ said rates should remain high for some time to ensure inflation is...
ADA Drops to Last Place in the Top 10 Cryptocurrencies
ADA, the native blockchain token of the Cardano network, has dropped to 10th place among the cryptocurrencies with the largest capitalization. Today, according to CoinMarketCap, the capitalization of Cardano (ADA) is USD 20.7 billion.
On the one hand, this happened due to the success of such competitors...
Market Analysis: EUR/GBP Dips to Support
EUR/GBP declined steadily below the 0.8572 and 0.8566 support levels.
Important Takeaways for EUR/GBP Analysis Today
EUR/GBP is trading in a bearish zone below the 0.8572 pivot level.
There is a connecting bearish trend line forming with resistance near 0.8562 on the hourly chart at FXOpen.
EUR/GBP Technical...
Market Analysis: GBP/USD Recovers
GBP/USD is gaining pace above the 1.2660 resistance.
Important Takeaways for GBP/USD Analysis Today
The British Pound is attempting a fresh increase above 1.2660.
There is a key bullish trend line forming with support near 1.2670 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly...
How to Use Fibonacci Retracements for Crypto
Fibonacci retracements have long been used in traditional financial markets. However, with the advent of crypto trading, they’ve also found popularity amongst digital asset traders. In this article, we answer the question “What is Fibonacci in crypto?”, discuss how to trade retracements and offer some strategies you...
The Market Is Waiting for Inflation Values in the US
Tomorrow one of the most significant events of the week will take place, which can greatly affect the sentiment of participants in both the currency and stock markets - at 15:30 GMT+3 inflation data will be published, namely: the values of the CPI (Consumer Price Index) and Core indices CPI.
According to...
BTC/USD Analysis: Bitcoin Price Rises Ahead of Halving
The halving (reduction of block mining rewards) is expected to occur on April 19-20.
Theoretically, Bitcoin mining will become less profitable, leading to a reduction in coin supply. Given unchanged demand, this should drive up the BTC/USD price. Ripple CEO Brad Garlinghouse has forecasted that the...
Relative Strength vs Relative Strength Index: What Are the Differences?
While the Relative Strength and Relative Strength Index indicators might share similar names, it’s important to know the difference between the two. In this article, we’ll discuss their unique characteristics, offer insights into their differences, and help determine which one is best for...
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BTC/USD Analysis: Bearish Arguments Become More Convincing
On March 18, we wrote about the activation of bears near the USD 70,000 level and the likelihood of consolidation forming near this psychological mark.
On March 25, we wrote that anxiety remains in the Bitcoin market.
Technical analysis of the BTC/USD chart with new data on the behavior of Bitcoin...
TSLA Analysis: Price Recovers after Disastrous Report
We previously wrote that lower vehicle deliveries could lower TSLA's stock price.
And as it became known on Tuesday, Tesla, led by Elon Musk, delivered just 386,810 cars in the first three months of 2024 - 14% below analysts' forecasts, according to Bloomberg. As a result, Tesla shares fell 4.9% that day,...
Market Analysis: NZD/USD Remain In Uptrend
NZD/USD is also moving lower and might attempt a fresh increase from 0.6000.
Important Takeaways for NZD USD Analysis Today
NZD/USD is also moving lower below the 0.6030 support zone.
There is a major bullish trend line forming with support at 0.5995 on the hourly chart of NZD/USD at FXOpen.
NZD/USD...
