Market Analysis: EUR/GBP Aims More Upsides
EUR/GBP is gaining pace and might extend its rally above the 0.8550 zone.
Important Takeaways for EUR/GBP Analysis Today
EUR/GBP started a fresh increase above the 0.8535 resistance zone.
There is a major bullish trend line forming with support near 0.8535 on the hourly chart at FXOpen.
EUR/GBP Technical...
Market Analysis: GBP/USD Recovers
GBP/USD is attempting a fresh increase from the 1.2745 zone.
Important Takeaways for GBP/USD Analysis Today
The British Pound is attempting a recovery above the 1.2780 zone against the US Dollar.
There was a break above a key bearish trend line with resistance at 1.2790 on the hourly chart of GBP/USD at FXOpen.
...
A Weak Dollar Is the Driver of Price Records for NASDAQ-100, BTC/USD, XAU/USD
Financial market participants expect an easing of the Fed's monetary policy. The prospect of lower rates puts pressure on the value of the dollar, which in turn pushes up dollar-denominated assets. This contributed to the setting of record highs:
→ The price of BTC/USD exceeded 70k...
The euro is trading above USD 1.09, hitting its strongest point since mid-January on Friday, helped by news from both the US and Europe.
Friday's news showed that the US labor market is weakening:
→ The change in employment in the non-farm sector showed an increase in jobs = 275k for the month, although last month it was = +353k.
→ The unemployment rate rose to...
Smoothed Moving Average: Definition and Uses
Navigating the trading landscape requires precise tools. The Smoothed Moving Average is one such indicator, offering traders clarity on market trends and reversals. In this FXOpen article, we uncover its significance, calculation, and application.
What Is a Smoothed Moving Average?
The Smoothed Moving Average...
Market Analysis: NZD/USD Start Fresh Rally
NZD/USD is also rising and could extend its increase above the 0.6200 resistance zone.
Important Takeaways for NZD/USD Analysis Today
NZD/USD is gaining pace above the 0.6155 support.
A key bullish trend line is forming with support at 0.6170 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical...
Market Analysis: AUD/USD Start Fresh Rally
AUD/USD is gaining pace and recently cleared 0.6600.
Important Takeaways for AUD/USD Analysis Today
The Aussie Dollar is moving higher from the 0.6480 zone against the US Dollar.
A connecting bullish trend line is forming with support at 0.6615 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical...
How to Use the Supertrend Indicator to Day Trade Crypto?
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CFDs are complex instruments and come with a high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing your money.
USD/CAD Analysis: Canadian Dollar Strengthens after Bank of Canada Decision
The Bank of Canada has decided to keep interest rates at 5.0% for the fifth time in a row, it announced yesterday, as it continues to look for clearer signs that inflation is moving closer to the bank's 2% target before considering rate cuts.
According to Bank of Canada Governor Tiff...
The Price of Gold XAU/USD Sets a Historical Record Exceeding $2160 per Ounce
The previous high was around USD 2,135, but gold rose above USD 2,160 an ounce this morning, reaching its highest level ever, as Treasury yields weakened on hopes that the US Federal Reserve will soon begin cutting interest rates.
In a speech yesterday, the Fed chief offered no...
TSLA Stock Price Falls Over 9% in Just 2 Days
The day before yesterday, trading in TSLA shares began at an opening price of USD 199.34; trading yesterday closed at a price of USD 180.51. The fall in TSLA shares led Musk to lose the title of the world's richest man to Jeff Bezos.
The main driver of the decline in the price of TSLA shares was news:
→ about the...
After Updating the Historical High, the Price of Bitcoin Collapsed by 14%
Bitcoin's previous all-time high price, recorded on November 10, 2021, was around USD 68,900 per coin (depending on exchanges).
But yesterday, the price of Bitcoin exceeded 69k! However, the jubilation from the new historical peak quickly gave way to fear — as the BTC/USD rate began to...
Market Analysis: USD/CHF Could Rally
USD/CHF declined and now struggling below the 0.8860 resistance.
Important Takeaways for USD/CHF Analysis Today
USD/CHF declined below the 0.8860 and 0.8850 support levels.
There is a key contracting triangle forming with resistance near 0.8850 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the...
Market Analysis: EUR/USD Eyes More Gains
EUR/USD started a fresh increase above the 1.0828 resistance.
Important Takeaways for EUR/USD Analysis Today
The Euro rallied after it broke the 1.0828 resistance against the US Dollar.
There is a connecting bullish trend line forming with support near 1.0845 on the hourly chart of EUR/USD at FXOpen.
EUR/USD...
What Are Cryptocurrency Bear and Bull Traps?
In volatile crypto markets, traders must contend with many challenges. One of the most common is the bear and bull trap, which can quickly catch traders off-guard if they aren’t careful. In this FXOpen article, we’ll explore how these traps work, provide examples to illustrate their characteristics, and tell about...
Swiss Franc Weakens after Inflation News
Inflation in the country fell in February to its lowest level in nearly two-and-a-half years, data from Switzerland's Federal Statistical Office showed on Monday. Although consumer prices rose 1.2% compared to a year earlier, there is reason to believe that inflation is slowing down compared to the 1.3% recorded a month...
WTI Oil Price Reaches 4-month High against the Backdrop of OPEC+ Decision
On Friday, the price of a barrel of WTI crude oil exceeded USD 80 per barrel due to the decision to continue the policy of reducing oil production by OPEC+ countries.
Saudi Arabia said on Sunday it would extend oil production cuts until June to “maintain stability and balance in oil...
