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...
The Price of Gold Continues to Hit Record Highs
As shown by today's XAU/USD chart, the price of an ounce of gold is around $2,628, marking a new all-time high for three consecutive trading days: 20th, 23rd, and 24th September.
The bullish sentiment in the gold market is driven by:
→ the reaction to Wednesday’s decision by the Federal Reserve to cut interest...
EUR/GBP Exchange Rate Hits 29-Month Low
According to today’s daily chart of EUR/GBP:
→ The rate is around £0.832 per euro – the lowest since April 2022.
→ The RSI indicator has dropped into oversold territory.
Yesterday, the EUR/GBP rate fell by 0.71%, driven by bearish sentiment following the release of PMI indices, which indicated a slowdown in the Eurozone...
Comparison of Money Market vs Capital Market
Navigating the financial world requires a clear understanding of its various facets, especially when comparing the money market vs the capital market. These two pivotal markets serve distinct roles in the economy, catering to different investment horizons and risk profiles. This article aims to demystify these...
The Price of Nike (NKE) Shares Surged by More Than 6%
Investors in Nike (NKE) can hardly call 2024 a successful year:
→ while the S&P 500 index (US SPX 500 mini on FXOpen) has risen by over 20% since the beginning of the year and is hovering near historic highs,
→ the price of NKE shares has dropped by about 20% in 2024 and is now more than twice as low as its...
Smart Money Concept and How To Use It in Trading
In the world of forex trading, understanding the movements and strategies of the market's most influential players like banks and hedge funds—termed "smart money"—can provide retail traders with a significant advantage. This FXOpen article offers a deep dive into the Smart Money Concept, discussing how...
USD/ZAR: New Trading Opportunities at FXOpen
FXOpen traders can now incorporate the USD/ZAR currency pair into their strategies. If you want to diversify your portfolio and deal with market volatility, open an account now and enjoy USD/ZAR trading.
As shown by the USD/ZAR chart, on 19th September the price fell below the 17.400 level for the first time since...
Weekly Market Wrap With Gary Thomson: S&P 500, Fed Cuts Interest Rates, US Dollar, S&P/ASX 200 Index
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.
- S&P 500 Sets Record Ahead of Fed Decision
- Fed Cuts...
The Price of Tesla (TSLA) Shares Has Risen by More Than 7%
As the Tesla (TSLA) stock chart shows today, the price increased by more than 7% during yesterday's trading, surpassing the $240 mark.
The bullish sentiment was supported by the following factors:
→ The Federal Reserve's decision to cut interest rates by 0.5%;
→ Data tracked by Citi analyst Jeff Chung....
Market Analysis: USD/CAD Struggles
USD/CAD declined and now consolidates below the 1.3600 level.
Important Takeaways for USD/CAD Analysis Today
- USD/CAD started a fresh decline after it failed to clear the 1.3650 resistance.
- There was a break below a short-term contracting triangle with support at 1.3560 on the hourly chart at FXOpen.
USD/CAD...
Market Analysis: GBP/USD Rallies
GBP/USD started a fresh increase above the 1.3200 zone.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is eyeing more gains above the 1.3300 resistance.
- There is a key expanding triangle forming with support near 1.3200 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the...
Australian S&P/ASX 200 Index Hits All-Time High
As seen on the S&P/ASX 200 chart (Australia 200 on FXOpen), today's candle surpassed the 8200 level, marking a new all-time high.
Positive sentiment was driven by:
→ The Federal Reserve’s decision to cut interest rates, which led to a surge in volatility and set historical records for gold prices (XAU/USD), the...
Fed Cuts Interest Rates by 0.5%
As we have frequently noted, a rate cut by the Federal Reserve seemed inevitable. Market participants debated whether the reduction would be 0.5% or 0.25%, and those predicting a 0.5% cut were proven correct.
According to Bloomberg, a narrow majority of 10 out of 19 committee members supported the 50-basis-point cut. Seven...
Algorithmic Trading Overview
Algorithmic trading is an essential component in today's financial markets, automating trading to improve efficiency and profitability. This article explores the intricacies of algorithmic trading, from how it works to its benefits and drawbacks, providing a comprehensive overview for traders.
What Is Algorithmic Trading?...
S&P 500 Sets Record Ahead of Fed Decision
As shown by the S&P 500 index chart (US SPX 500 mini on FXOpen), yesterday's trading saw the index hit a new intraday high of 5,678.9, surpassing the previous record of 5,677.5 set on 16 July. However, the bulls were unable to maintain this historic peak, which is a negative sign, suggesting the possibility of a bear...
Market Analysis: USD/CHF Faces Hurdles
USD/CHF declined and now struggling below the 0.8500 resistance.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF declined below the 0.8500 and 0.8460 support levels.
- There is a major bearish trend line forming with resistance near 0.8460 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the...
