Gold price surged above the $1,848 resistance after the Israel-Hamas war escalated.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a steady increase from the $1,810 zone against the US Dollar.
· A key rising channel is forming with support near $1,868 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the...
In early October, the GBP/USD decline exceeded 10% from its summer high, which was very worrying. However, the weakening of the US dollar and changes in sentiment in the US government bond market allowed the pound to strengthen.
Important news about UK GDP was published this morning:
→ The Office for National Statistics estimates that real gross domestic product...
The rise in the price of the (considered a safe haven) asset was driven by:
→ escalation of geopolitical conflicts;
→ increasing US government debt and rising bond prices make gold a more attractive option for a defensive portfolio.
Also, according to Business Insider, global central banks are buying gold in an effort to diversify reserves away from the dollar.
...
As we wrote in our October 8 market analysis, the S&P 500 chart made bullish arguments, including:
→ the S&P 500 price has reached the lower boundary of the ascending channel (shown in blue);
→ RSI fell to its minimum in 12 months.
Technically, these factors were justified, because today, the S&P 500 has strengthened, the price is near the psychological level...
This morning, as the NZD/USD chart shows, one USD was worth 0.605 New Zealand dollar, for the first time since August 10.
The strengthening of NZD was facilitated by:
→ rumours that China is planning a major stimulus package to boost the economy amid the real estate crisis. And the Australian and New Zealand dollars, as one can see, are showing growth against...
USD/CHF declined and now trading near the 1.0450 support zone.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF declined below the 0.9140 and 0.9080 support levels.
· There is a connecting bearish trend line forming with resistance near 0.9080 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the...
EUR/USD started a recovery wave above the 1.0550 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro gained pace after it broke the 1.0550 resistance against the US Dollar.
· There is a major bullish trend line forming with support near 1.0570 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
Oscillators are popular tools in trading, and the Chande Momentum Oscillator is no exception. In this article, we will cover the unique insights offered by this indicator, how it’s calculated, and how it stacks up with other well-renowned momentum tools.
What Is the Chande Momentum Oscillator Indicator?
The Chande Momentum Oscillator (CMO) is a technical...
The first day of October coincided with the first attempt of the bulls to overcome the resistance level of USD 28,000 per coin, but on the 2nd of October, the sellers showed their presence. Since that time, the price has repeatedly exceeded the level of 28k, but each time not for long, after which a decline followed.
Yesterday, there was another such decline. As...
As the chart shows, yesterday, the price of gas rose above USD 3.60 for the first time since January of this year.
It can be assumed that events in Israel contributed to the price increase, since the Middle East is an important supplier of gas.
However, note that the bullish momentum started much earlier — gas prices have risen approximately 20% since the...
On Friday, trading in WTI oil futures on the NYMEX closed at USD 82.81 per barrel. And on Monday morning, they opened at a price of USD 85.25 and began to quickly rise in price, reaching 87.24. Natural gas prices have also risen sharply.
The reason is Saturday's attack on Israel. And, of course, associations arise with the oil crisis of 1973, when Arab...
The Awesome Oscillator (AO), a brainchild of Bill Williams, is a crucial tool in technical analysis, giving traders a clear view of market momentum and potential trend shifts. Designed as a histogram oscillating around a zero line, the AO provides nuanced insights into asset momentum. In this article, we explore the intricacies of this indicator, including its...
Yesterday, the NFLX share price dropped below USD 370, the lowest since late May of this year, and about -22% from the July peak.
Note that on July 6, we wrote that the NFLX stock price could meet resistance at USD 450 per share, and the signals from the chart gave bearish warnings. Just since July, the stock price began to perform worse than the broad S&P 500...
On Tuesday, the US dollar rose above the psychological level of 150 for the first time since October 2022 before falling sharply to a low of 147.30 as the yen rose.
The media are discussing whether this movement confirms the fact of intervention on the part of the Japanese authorities.
On the one hand, there are opinions that the yen's movement on Tuesday was...
NZD/USD is also rising and facing a major hurdle near the 0.5980 level.
Important Takeaways for NZD/USD Analysis Today
· NZD/USD is attempting a recovery wave above the 0.5930 resistance.
· There is a major bullish trend line forming with support near 0.5950 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of...
AUD/USD is attempting a recovery wave from 0.6285.
Important Takeaways for AUD/USD Analysis Today
· The Aussie Dollar found support near 0.5870 and is now recovering against the US Dollar.
· There is a key rising channel forming with resistance near 0.6385 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly chart of AUD/USD...
In trading, understanding the mechanics behind market movements is crucial. This article delves into the concept of order flow analysis, focusing on its unique challenges in the decentralised forex market, and offers alternative strategies rooted in supply and demand dynamics.
Order Flow Analysis and Its Limitations in Forex
Order flow analysis serves as a...
As it became known yesterday:
→ Tim Cook sold shares, selling 511k of his existing package of more than 3 million shares. For information: in 2023, he took a salary reduction of approximately 40%, but increased the size of the bonus (tied to the company's success) in the form of shares from 50% to 75%.
→ Investment bank KeyBanc Capital Markets downgraded AAPL...
