EUR/USD Rate Accelerates Decline Following European Inflation News
According to the Eurostat data released today:
→ Core CPI Flash Estimate (YoY): actual = 2.7%, expected = 2.7%, previous = 2.8%;
→ CPI Flash Estimate (YoY): actual = 1.8%, expected = 1.8%, previous = 2.2%.
This news, coupled with yesterday’s statements from the Fed Chair, led to the EUR/USD rate...
XAG/USD Analysis: Silver Price Fails to Hold at 11-Year High
As shown on the XAG/USD chart, during the trading session on 26th September, the price of silver surpassed the previous 2024 high (set in July), reaching levels last seen in December 2012.
Key drivers of silver’s price include news related to the Federal Reserve’s policy:
→ Last month, when the...
Automated Trading vs Manual Trading
In the modern world of trading, two distinct methodologies exist: manual trading vs algorithmic trading. Both these approaches aim at the same goal - to optimise profit and minimise losses in the financial markets. However, they vary significantly in their operation, the level of involvement required, and the nature of...
USD/JPY Analysis: The Yen Strengthens by Over 2.8% in One Day
According to Reuters, it was announced on Friday that Shigeru Ishiba, known for his tough stance on interest rates, will become Japan's next Prime Minister.
This news caused a sharp intraday reversal in the USD/JPY exchange rate on Friday: while the price initially rose in the morning (as shown by...
Alibaba Group (BABA) Share Price Rises Over 30% Since Early September
As shown on the Alibaba Group (BABA) stock chart, the price surpassed $107 on the NYSE on Friday, after trading below $85 at the start of the month.
Bullish sentiment surrounding Chinese stocks is driven by the authorities' plans to stimulate the country's economy:
→ According to Benzinga,...
Common Mistakes to Avoid in Trading
You have probably heard that trading is risky and that traders often make silly mistakes. At FXOpen, we know that many questions arise during trading regardless of your level of experience. In this article, we will discuss the common trading mistakes that you might make even if you have been in the markets for a long time.
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Brent Crude Oil Price Drops to Yearly Low
When analysing the oil market on the XBR/USD chart on 4th September, with Brent crude trading near its yearly low, we:
→ noted the formation of a descending channel (marked in red);
→ highlighted key support (marked in yellow), which has now been broken;
→ suggested the likelihood of an interim upward correction,...
Micron Technology (MU) Shares Surge by Approximately 15%
The US stock market is experiencing positive momentum following the much-anticipated decision by the Federal Reserve to cut interest rates this month. The S&P 500 (US SPX 500 mini on FXOpen) closed at a new all-time high, driven by yesterday's news of:
→ Steady US GDP growth at 3% annually
→ Low...
Market Analysis: Oil Price Dips Further
Crude oil is showing bearish signs and might decline below $66.80.
Important Takeaways for Oil Price Analysis Today
- Crude oil prices failed to clear the $72.20 region and started a fresh decline.
- There is a connecting bearish trend line forming with resistance at $68.10 on the hourly chart of XTI/USD at FXOpen.
...
Market Analysis: Gold Price Sets New High
Gold price rallied further and traded to a new high above $2,680.
Important Takeaways for Gold Price Analysis Today
- Gold price started a steady increase from the $2,545 zone against the US Dollar.
- A key bullish trend line is forming with support near $2,665 on the hourly chart of gold at FXOpen.
Gold Price...
Natural Gas Price Hits 3-Month High
According to today's XNG/USD chart, the price of natural gas:
→ has risen by approximately 30% since the beginning of September;
→ is currently around the 2.95 level – the last time the price was at this level was at the end of June this year.
Bullish sentiment is supported by:
→ forecasts of a warmer autumn, which is...
Shares of Chinese Companies Surge
As evidenced by today’s Hang Seng chart (Hong Kong 50 on FXOpen), this stock index has risen to a yearly high.
Bullish sentiment in the market is bolstered by promises from China's top leadership, including President Xi Jinping, to achieve the growth target for 2024 and to halt the decline in the real estate market.
Bloomberg...
Institutional and Retail Traders: Where the Difference Lies
There are many players in the financial markets who can cause changes in trend direction, but let’s focus on institutional and retail traders. This FXOpen article compares retail vs institutional trading. You’ll learn about the characteristics of these types of traders, how they affect the markets, as...
Meta Platforms (META) Stock Price Holds Near All-Time High
As shown on the Meta Platforms (META) stock chart, the price remains around the $560 level, less than 2% away from the all-time high of over $570, reached on 23 September.
A significant gain of approximately 3.80% in one day was achieved on 19 September, driven by increased demand for shares following...
Analysis of NZD/USD: Exchange Rate Hits Yearly High Today
According to the NZD/USD chart, the exchange rate has reached 0.635 New Zealand dollars per US dollar today, its highest level since December 2023.
As reported by Trading Economics:
→ On one hand, the "kiwi" strengthened due to China's announcement of an economic stimulus package, as China is New...
Market Analysis: NZD/USD Follows Suit
NZD/USD might aim for more gains above 0.6300.
Important Takeaways for NZD USD Analysis Today
- NZD/USD is consolidating gains from the 0.6350 zone.
- There is a major bullish trend line forming with support at 0.6280 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD...
Market Analysis: AUD/USD Rallies Toward 0.7000
AUD/USD surged above the 0.6800 and 0.6850 levels.
Important Takeaways for AUD USD Analysis Today
- The Aussie Dollar rallied after forming a base above the 0.6750 level against the US Dollar.
- There is a key bullish trend line forming with support at 0.6860 on the hourly chart of AUD/USD at FXOpen.
AUD/USD...
How to Trade with the Island Reversal Pattern
Price action analysis serves as a pivotal methodology in financial markets, offering a means to assess and determine the future price movements of various assets, including stocks, currencies, and commodities. Among the many tools employed within this method, the Island Reversal pattern stands out as a significant...
