Forex trading is a complex task; therefore, traders look for various techniques and tools to overcome the challenges. One such technique is understanding and harnessing the power of market sentiment. In this article, we will define what forex market sentiment is, highlight the pivotal role it plays in trading, and provide an overview of the various sentiment...
As the clock ticks towards 13:30 GMT, financial markets are bracing for the release of the Consumer Price Index (CPI) data for November, a pivotal metric that provides a snapshot of the current state of the United States economy.
The CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and...
Get ready for a surge in volatility in the coming days, because:
→ today at 16:30 GMT+3: news will be published on inflation in the USA;
→ tomorrow at 22:00-22:30 GMT+3: news from the Federal Reserve on the interest rate will be published;
→ on Thursday: news from the central banks of Europe, Great Britain, Switzerland will be published.
Add in geopolitical...
On Monday morning, the price of bitcoin fell sharply. As the chart shows, the BTC/USD rate fell below 42,000 on Monday during the Asian session. According to Coinglass, the decline resulted in about $400 million worth of positions being liquidated by about 100,000 traders on cryptocurrency exchanges. So far, the price has found support around the 41,200 level,...
Fibonacci retracements are a cornerstone in the toolkit of many traders, offering a mathematical approach to identifying potential areas where reversals may occur. This article delves into the intricacies of using Fibonacci retracements, covering everything from basic understanding to strategies involving other indicators. Read on to gain insights into how to...
In the first half of 2023, the Japanese stock market was dominated by bullish sentiment due to (still) negative interest rates — while the rest of the G7 countries raised their rates to combat inflation.
The NIKKEI-225 index grew by 30% in the first half of the year. But then the balance of supply and demand was achieved, judging by the daily chart, where a range...
Pivot points are a go-to tool for traders seeking to identify potential reversal zones in the markets. From combining them with the Relative Strength Index (RSI) to harnessing the power of Fibonacci retracements, this article discusses three multi-layered approaches to pivot point trading. Dive in to optimise their utility in your trading toolkit.
Understanding...
This morning, the AUD/JPY rate dropped below 95.2 yen per Australian dollar for the first time since late October.
The weakening of the AUD was contributed by:
→ negative news regarding the Chinese economy. The Hang Seng Index set its 2023 low yesterday;
→ Australian GDP data published yesterday, which is growing at a weaker-than-expected pace.
And the...
It is traditionally believed that the Santa Rally occurs at the end of December and the first days of January, but according to many opinions it is acceptable to think that it begins much earlier.
At the beginning of December, the values of the S&P 500 index came close to the highs of the year in the area of 4,611, but have declined to date, forming a number of...
As the chart shows, the price of a barrel of US crude oil dropped below 72.10 per barrel yesterday for the first time since July 2023.
Fundamentally, this happened against the backdrop of:
→ Statistics showing that US oil exports are increasing. Volume is approaching a record 6 million barrels per day, with flows to Europe and Asia showing steady growth.
→...
In the realm of technical analysis, certain patterns stand out for their efficacy and the insights they offer traders. Among them is the Ross Hook pattern, deeply rooted in the foundational 1-2-3 pattern. This article delves into understanding these patterns, their origin, and how traders can integrate them into their strategies. Dive in to unravel the nuances of...
Crude oil prices declined steadily below the $75.90 support and moved into a bearish zone.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices extended downsides below the $75 support zone.
· A major bearish trend line is forming with resistance near $73.35 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the...
Gold price is correcting gains below the $2,050 support.
Important Takeaways for Gold Prices Analysis Today
· Gold price rallied to new highs above $2,120 before it corrected lower against the US Dollar.
· A key bearish trend line is forming with resistance near $2,025 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly...
The record high of about USD 2,130 an ounce was set just after the weekend in low-liquid Asian markets. By the nature of the movement, it looked more like a cascading triggering of sellers’ stop losses, rather than finding a stable balance between supply and demand, since after the candle with a long upper tail, the quote began to fall. During the European session...
December begins extremely optimistically for the cryptocurrency market, resembling:
→ December 2020, when bitcoin grew by 46.9%;
→ December 2017, when bitcoin grew by 38.9%;
→ December 2016, when bitcoin grew by 30.8%.
If there are psychological patterns in the increase in demand on the eve of the holidays, then perhaps they come into force, since on the morning...
The Average Directional Index is a highly-respected tool in many traders’ arsenals, capable of measuring the strength of market trends. This article delves into two ADX-based strategies, exploring how to combine this tool with other popular indicators like RSI and EMA for a well-rounded trading system.
Understanding the ADX Trend Indicator
The Average...
On the morning of Friday, December 1, the UK stock market index rose to its November highs. This was facilitated by the fundamental background:
→ among the UK100 growth leaders are shares of companies mining ore and other resources. As metal prices rise and industry in China shows signs of recovery;
→ general sentiment on the world's stock markets due to the fact...
This morning, 1 USD was selling for less than 1.354 Canadian dollars – for the first time since October 1st.
The strengthening of the Canadian dollar and the weakening of the USD was facilitated by the news published yesterday:
→ Canada's real gross domestic product (GDP) grew by 0.1% in September, which exceeded analysts' expectations and reduced the relevance...
