Correction in Crypto Markets: BTC/USD Rate Drops to $60,000
On March 18, we wrote that bears became more active near the $70,000 level.
As the BTC/USD chart shows, today the price of Bitcoin is already close to the psychological level of USD 60k, while the price of Ethereum is close to USD 3,000.
According to MarketWatch, experts consider the decline to be a...
How to Trade with the Inside Bar Pattern
The inside bar pattern is characterised by two consecutive candlesticks that often suggest a period of consolidation or indecision in the market. Traders and analysts can find value in identifying the setup as it can provide insights into potential future price movements. In this article, we will explore different...
Market Analysis: USD/JPY Rallies Above 151
USD/JPY surged and broke the 151.00 resistance zone.
Important Takeaways for USD/JPY Analysis Today
USD/JPY climbed higher above the 150.00 and 151.00 levels.
There is a connecting bullish trend line forming with support at 150.20 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly...
Market Analysis: EUR/USD Dips Again
EUR/USD started another decline from the 1.0960 resistance.
Important Takeaways for EUR/USD Analysis Today
The Euro started a fresh decline below the 1.0900 support zone.
There is a key bearish trend line forming with resistance at 1.0870 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the...
Bank of Japan Ends the Era of Negative Interest Rates
The Bank of Japan has not raised interest rates for 17 years. For 8 years, it was in the negative zone.
But today there was a dramatic shift in monetary policy — the Bank of Japan announced a decision to increase the interest rate from -0.1% to 0.1%.
The central bank also abandoned yield curve control...
BTC/USD Analysis: Bears Have Become More Active Near the $70,000 Level
On February 26 (A), a strong bullish impulse started in the Bitcoin market. Its trajectory is visually described by a blue line. The price of bitcoins developed along it — this can be interpreted in such a way that market participants agreed that the value of the cryptocurrency was...
How to Trade with the Triple Top Pattern
Traders are always on the lookout for reliable analysis tools that can help them make correct trading decisions. One such tool is the triple top trading pattern. It is a bearish reversal formation that can help traders identify potential trend reversals and take advantage of market opportunities.
In this FXOpen article,...
Get the latest scoop on the week's hottest headlines, all in one convenient video.
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CFDs are complex instruments and come with a high risk of losing your money.
WTI Oil Price Reaches 4-month High
The International Energy Agency (IEA) has once again raised its forecasts for global oil demand in 2024. While the agency's forecast pointed to the prospect of an oil surplus in 2023, its analysts now believe that the world will experience a shortage of oil in the second half of 2024.
Among the reasons for the shortage:
→...
USD Strengthens Sharply after Inflation News
Yesterday's publication of producer price indices in the US was a surprise:
→ Core PPI: actual = 0.3%, expected = 0.2%.
→ PPI: actual = 0.6%, expected = 0.3%.
Higher producer prices indicate that high inflation may remain longer than expected. And this reduces the likelihood of the Fed easing monetary policy. Markets...
Market Analysis: Crude Oil Price Surges
Crude oil price is rising and it could climb further higher toward the $82 resistance.
Important Takeaways for Oil Price Analysis Today
Crude oil prices are moving higher above the $80.00 resistance zone.
There is a connecting bullish trend line forming with support near $80.60 on the hourly chart of XTI/USD at...
Market Analysis: Gold Price Rally Takes Break
Gold price rallied above $2,180 before correcting lower.
Important Takeaways for Gold Price Analysis Today
Gold price failed to clear the $2,200 resistance and corrected lower against the US Dollar.
A key bearish trend line is forming with resistance at $2,170 on the hourly chart of gold at FXOpen.
Gold...
Awesome Oscillator Trading Strategies
Navigating the world of trading indicators can be complex, but the Awesome Oscillator offers both simplicity and effectiveness. This article delves into how this indicator works, its best settings, and three strategies to use across all asset types.
Awesome Oscillator Explained
The Awesome Oscillator (AO) is a...
US500: The Market Has Been Growing without Corrections by 2% for 266 Consecutive Trading Sessions
The S&P 500 remains in its longest rally since 2018 without a decline of at least 2%, according to data compiled by Bloomberg; analysts note that there hasn't been a correction of this size in 266 trading sessions.
The positive sentiment of market participants is...
USD/JPY: Analysts Adjust Forecasts for the Strengthening of the Yen
Since the beginning of 2024, the USD/JPY price has been in an uptrend (as shown by the blue channel), but when the rate exceeded the psychological level of 150 yen per US dollar, market sentiment changed. This was due to expectations that the Bank of Japan would take interest rates out of...
GBP/USD: Bulls Show Resilience amid Inflation and GDP News
Yesterday important data on inflation in the United States was published. It caused a significant spike in volatility in financial markets, even though the values were in line with expectations. CPI in monthly terms: actual = 0.4%, forecast = 0.4%, a month ago = 0.3%, a year ago = 0.4%.
And today news...
Today Is an Ethereum Update. ETH/USD Is Above $4,000
An update is scheduled for the Ethereum network today, approximately at 16:55 GMT+3.
The update is called Dencun and is the biggest code change since April 2023, when the Shapella update was implemented.
Dencun aims to reduce fees on the growing array of ancillary networks running on top of Ethereum, called...
Mass Index Indicator: Definition, Calculation, and Trading Strategies
Developed by Donald Dorsey, the mass index indicator can be a good tool in a trader’s arsenal. The indicator has been widely favoured due to its effectiveness in predicting market reversals and identifying critical turning points.
In this article, we will thoroughly explore the mass index and...
