Candlestick Wick Meaning and Trading Strategies
Understanding the subtle cues provided by candle wicks can unlock new dimensions in trading strategy development. These seemingly minor details offer profound insights into market sentiment and price action dynamics. This article delves into the meaning behind candle wicks and explores strategic ways to trade them,...
Weekly Market Wrap With Gary Thomson: S&P500, US Dollar, Gold Price, PEP Stocks
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
The S&P500 Has Reached a Significant Resistance Level
US Dollar...
The Price of Silver Has Reached Its Highest Level in Over Three Years
As indicated by the XAG/USD chart today, the intraday price of silver reached $29.84 per ounce yesterday, while the previous yearly high on 12 April was $29.79. The last time this price was seen was in February 2021.
It is worth noting that today the price of silver is behaving more bullishly...
The Share Price of Alibaba (BABA) Has Reached Its Yearly High
On 14 May, Alibaba released its first-quarter performance report:
→ Earnings per share: actual = $1.404, expected = $1.421;
→ Gross income: actual = $30.716 billion, expected = $30.502 billion.
The fact that earnings per share were slightly below expectations did not disappoint investors much, as on...
Market Analysis: NZD/USD Set Sights on Additional Upside
NZD/USD is also rising and could aim for a move above the 0.6140 resistance.
Important Takeaways for NZD/USD Analysis Today
NZD/USD is consolidating gains above the 0.6100 support.
There is a key bullish trend line forming with support at 0.6100 on the hourly chart of NZD/USD at FXOpen.
...
Market Analysis: AUD/USD Set Sights on Additional Upside
AUD/USD started a decent increase above the 0.6655 resistance.
Important Takeaways for AUD/USD Analysis Today
The Aussie Dollar found support at 0.6585 and recovered higher against the US Dollar.
There is a major bullish trend line forming with support at 0.6670 on the hourly chart of AUD/USD at...
Three of the Best MACD Trading Strategies
The Moving Average Convergence Divergence (MACD) is more than just a mouthful—it's a versatile trading indicator that has stood the test of time. This article unpacks the intricacies of this indicator and dives deep into three specific strategies that leverage the MACD with other powerful tools like the Stochastic...
The US Dollar Is Weakening Following Inflation Data
Yesterday saw the release of key economic indicators for the US. According to ForexFactory:
→ Core Price Index (CPI) monthly: actual = 0.3%, expected = 0.4%, previous = 0.4%;
→ Core Price Index (CPI) annual: actual = 3.4%, expected = 3.4%, previous = 3.5%;
→ Retail Sales monthly: actual = 0.0%, expected =...
The Stock Price of Pepsico (PEP) Is Retracting from Its Yearly High
On April 23, the quarterly report of PepsiCo's performance for the first quarter was published, which was awaited anxiously.
The issue stemmed from the fact that in December 2023, the U.S. Food and Drug Administration (FDA) announced the recall of over 40 Quaker Oats products – a company owned...
The S&P 500 Index Has Reached a Significant Resistance Level
Analyzing the S&P 500 chart (US SPX 500 mini on FXOpen) on April 26, we wrote about how the April decline could be a correction to the lower boundary of the channel within the 2024 rally. Following this, a logical development would be for the bulls to attempt to resume the upward trend and make another...
Market Analysis: USD/JPY Gains Bullish Traction
USD/JPY trimmed almost all losses and showing positive signs above 156.20.
Important Takeaways for USD/JPY Analysis Today
USD/JPY climbed higher above the 155.95 and 156.50 levels.
There is a connecting bullish trend line forming with support near 156.20 on the hourly chart at FXOpen.
USD/JPY Technical...
Market Analysis: EUR/USD Sees Green
EUR/USD is slowly gaining traction above the 1.0800 level.
Important Takeaways for EUR/USD Analysis Today
The Euro started a decent increase above the 1.0750 pivot level.
There is a key bullish trend line forming with support near 1.0800 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the...
How Do Grid Trading Strategies Work?
Grid trading stands as a distinctive strategy within the trading realm, offering a structured approach to navigating market volatility. By strategically placing buy and sell orders at predefined intervals, this method eschews the need to determine the market direction, instead harnessing the inherent fluctuations of the...
Momentum Trading Strategies for Day Traders
Momentum trading is a highly-regarded trading strategy used to seize opportunities in trending markets. This article explores momentum trading and offers two comprehensive strategies for capitalising on rising and falling markets.
What Is a Momentum Trading Strategy?
Momentum trading is a technique where traders aim...
Gold Price (XAU/USD) Is Testing an Important Resistance Zone
On April 16, we wrote why the $2,380 zone is an important resistance area.
The XAU/USD chart shows that:
1) After fading fluctuations (they formed a narrowing consolidation triangle - shown in green), the price of gold dropped sharply (shown by a black arrow) on April 22-23.
2) Then, the price found...
Weekly Market Wrap With Gary Thomson: UK100, Hang Seng Index, AUD/JPY, GBP/USD, USD/CAD
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
UK100 Analysis: Stock Market Optimistic Ahead Of Bank Of...
Opening Range Breakout Strategy
The Opening Range Breakout (ORB) is a classic trading strategy designed to capitalise on volatility during the first few minutes following the market's opening bell. Rooted in principles laid down in the 1960s, the strategy remains relevant today for both stock and forex markets. This article dives deep into the ORB strategy and...
Market Analysis: Crude Oil Price Recovers
Crude oil is recovering and might rise toward the $81.20 resistance zone.
Important Takeaways for Oil Price Analysis Today
Crude oil is recovering losses and trading above the $78.55 support.
There was a break above a connecting bearish trendline with resistance near $78.40 on the hourly chart of XTI/USD at...
