The Price of S&P 500 Sets Historical Record By Exceeding 5,000
As the graph shows, yesterday, the price of the S&P 500 index exceeded the psychological level of 5,000 for the first time in history. Bullish sentiment in the US stock market is supported by 2 drivers.
Expectation of lower interest rates. So, yesterday, the head of the Minneapolis Fed, Neel...
NZD/USD Rate Recovering from Its Low of the Year amid News from Labour Market
Yesterday's news showed that New Zealand's labour market is stronger and more resilient than expected.
In the fourth quarter of 2023, employment grew by 0.4% in the fourth quarter (forecast = +0.3%, quarter earlier = -0.1%). The unemployment rate is 4%, forecast = 4.3%.
A strong...
Market Analysis: USD/CHF Regains Strength
USD/CHF is rising and might aim a move toward the 0.8800 resistance.
Important Takeaways for USD/CHF Analysis Today
USD/CHF is showing positive signs above the 0.8680 resistance zone.
There was a break below a key bullish trend line with support at 0.8700 on the hourly chart at FXOpen.
USD/CHF Technical...
Market Analysis: EUR/USD Drops Again
EUR/USD started a fresh decline below the 1.0810 support.
Important Takeaways for EUR/USD Analysis Today
The Euro struggled to clear the 1.0900 resistance and declined against the US Dollar.
There was a break above a short-term bearish trend line with resistance near 1.0750 on the hourly chart of EUR/USD at FXOpen.
...
A Major Network Outage in Solana Had Little Impact on the SOL/USD Exchange Rate
Solana, one of the fastest-growing blockchain networks, experienced significant outages yesterday, starting around 13:00 GMT+3. As a result of the outage, users and developers were unable to process transactions and interact with applications.
Solana engineers quickly released a...
CAD Strengthened After Statements from the Head of the Bank of Canada
The head of the Bank of Canada, Tiff Macklem, stated yesterday that monetary policy needs more time to ease price pressures.
He noted that the main problem in suppressing inflation is housing costs. “Housing affordability is a significant problem in Canada—but not one that can be fixed by...
Stage analysis is a powerful technique in trading that segments market trends into distinct phases, each offering unique opportunities and challenges. Developed by Stan Weinstein, this method helps traders understand and anticipate market movements. This article delves into the four stages of this analysis, offering insights into how traders apply these concepts,...
AUD/USD Rate Rises after RBA Decision
This morning the Central Bank of Australia decided to keep the interest rate at the same level = 4.35%, as expected.
However, RBA management said that further rate hikes cannot be ruled out as inflation is still too high. This is a clear signal that policy easing is unlikely in the near future.
AUD/USD has rallied from its...
After Thursday's close, another corporate giant reported fourth-quarter 2023 activity.
Amazon's actual numbers exceeded analysts' expectations. And while actual revenue (= USD 169.96 billion) was close to forecasts (expected = USD 169.92 billion), the reported earnings per share were a surprise (actual = USD 1.00, expected = USD 0.795).
Bloomberg names the...
Trading with Support and Resistance Zones
Support and resistance are fundamental concepts in the world of trading. They help traders gain an overall market background when analysing an asset’s price action, build expectations about price movements based on historical data, and make informed trading decisions. In this article, we discuss these concepts and...
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AAPL Share Price Falls 3% After Report
After the close of yesterday's trading session, the once first-largest company by capitalization, Apple, reported on its activities for the 4th quarter of 2023. The actual numbers exceeded expectations:
→ revenue: actual = USD 119.5 billion (expected = USD 117.9 billion);
→ earnings per share: actual = USD 2.3 (expected =...
Meta Share Price Soars to Record Thanks to First-ever Dividend
After the close of yesterday's trading session, the social media giant reported activity for the 4th quarter of 2023. The actual numbers exceeded expectations:
→ gross income: actual = USD 40.1 billion (expected = USD 39.1 billion);
→ earnings per share: actual = USD 5.3 billion (expected = USD 4.8...
Advanced Candlestick Pattern Analysis
Welcome to the intricate world of advanced candlestick patterns, a realm where subtle shifts in market sentiment are captured in the form and structure of candles on a chart. This article delves into some of the more sophisticated patterns that, while less common, offer insightful signals to those who can identify them. For...
USD/CAD is declining and trading below the 1.3415 support.
Important Takeaways for USD/CAD Analysis Today
USD/CAD started a fresh decline after it failed to clear the 1.3465 resistance.
There is a short-term connecting bullish trend line forming with support near 1.3368 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of...
GBP/USD started a fresh increase above the 1.2625 zone.
Important Takeaways for GBP/USD Analysis Today
The British Pound is eyeing more gains above the 1.2755 resistance.
There was a break above a key bearish trend line with resistance near 1.2740 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at...
Natural Gas Prices Recover from 3.5-year Lows
As the chart shows, the price of XNG fell below 2.040 on January 31 for the first time since August 2020. This was facilitated by:
→ seasonal trend, because towards the end of winter the price of natural gas tends to fall;
→ weather data. Temperatures could remain above average and snowfall amounts will decrease...
News from the Fed Push Down EUR/USD Price to a Year Low
Financial markets were buoyant last night due to news from the Fed. Interest rates remained unchanged — as expected. However, somewhat unexpected was the harsh rhetoric of Jerome Powell, who said that:
→ interest rate reduction in March is unlikely;
→ the Fed needs to see more data to be confident in the...
