NZD/USD is now attempting a fresh increase from the 0.5860 support zone.
Important Takeaways for NZD/USD Analysis Today
· NZD/USD declined heavily from the 0.6000 resistance zone.
· Recently, there was a break above a connecting bearish trend line with resistance near 0.5880 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the...
AUD/USD declined 0.6400 before the bulls appeared.
Important Takeaways for AUD/USD Analysis Today
· The Aussie Dollar started a fresh decline from well above the 0.6440 level against the US Dollar.
· There is a key contracting triangle forming with resistance near 0.6400 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly...
The price of the main cryptocurrency rose above the level of 26k US dollars. This was fueled by the news that Ark Invest and 21Shares filed applications with the US Securities and Exchange Commission (SEC) for a spot ETF on Ethereum.
Some say recent verdicts in favor of cryptocurrency firms Grayscale and Ripple Labs in lawsuits against the SEC increase the...
Why is the yuan falling?
→ Strong US dollar. Yesterday it became known that the number of applications for unemployment benefits in the US amounted to 216k for the week — below the forecast of 232k applications. This is the lowest level since February.
→ Worsening problems in the Chinese economy. Yesterday's data from the General Administration of Customs of...
Accumulative Swing Index: Definition and How to Use It
While many traders opt for moving averages to decipher market movements, some prefer the Accumulative Swing Index. This tool helps traders gauge trends at-a-glance and offers some fairly versatile setups. In this article, we will unpack its intricacies, from its foundational formulas to practical...
As a result of yesterday's trading, AAPL shares fell more than 3.5%.
The reason is in the news that came from China:
→ According to the WSJ, Chinese central government officials have been ordered not to use iPhones or bring them to the office. Apple's business is very vulnerable to tensions between China and the US, as most of the US company's products are...
Yesterday it became known that the Bank of Canada (BOC) decided to keep the rate at 5% — the highest level in 22 years.
Here are the key takeaways from CEO Tiff Macklem's press conference:
→ excess demand is declining, but the BOC is remaining concerned about persistence of high inflation;
→ the labor market is gradually calming down, but wage growth remains...
In 2023, Japan's stock market is in a bullish trend (shown by the blue channel) as the country has an ultra-loose monetary policy (unlike other G7 countries that are fighting inflation). As a result, the cheap yen helps Japanese companies, which are largely export-oriented, to develop. According to the Cabinet of Japan, GDP in the second quarter of 2023 increased...
On Tuesday, financial market participants received a piece of data that gives signs of a slowdown in economies in different countries. Namely, the PMI index (an index of purchasing managers, which is considered a leading economic indicator) showed a negative trend in China and a number of European countries.
This led to a decrease in exchange rates against the US...
USD/JPY is rising and might climb further toward the 148.80 resistance zone.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY climbed higher above the 146.10 and 147.00 levels.
· There is a connecting bullish trend line forming with support near 147.20 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at...
EUR/USD started a fresh decline from 1.0940.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a fresh decline below the 1.0860 support zone.
· There is a key bearish trend line forming with resistance near 1.0760 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started...
Fixed Range Volume Profile: Definition and Trading Strategies
The Fixed Range Volume Profile (FRVP) has long been favoured by traders for its ability to accurately predict the market direction and key turning points. However, its complex appearance can put some traders off. In this FXOpen article, we’ll take a deep dive into the FRVP, how to use it in a trading...
AUD/USD Falls Sharply after the Decision of the Reserve Bank of Australia
The Reserve Bank of Australia (RBA) kept interest rates at 4.10% for the third month today, fueling rumors that the tightening cycle is over. Although according to Reuters, the majority of economists polled by the agency expect another increase by the end of the year after the release of...
Yesterday, the price of WTI oil rose above USD 85.50 per barrel. This has not happened since November 2022.
On August 24, we wrote that the price of oil could find support for growth from the lower border of the rising channel, as well as from the level of USD 78.50. Since then, the price of WTI oil has risen by more than 9%. Fundamentally this contributed to:
→...
The Double Exponential Moving Average (DEMA): Is It a Powerful Tool for Technical Analysis?
Traders use various types of moving averages, including simple, weighted, linear-weighted, volume-weighted, and exponential. The uses are almost the same; however, they differ in terms of how they are calculated. This determines the frequency and accuracy of trading...
While today the world’s first economy is celebrating Labor Day (so due to the bank holiday in the US, financial markets will most likely have below average volatility), the second world’s economy is recovering. From the low of the year reached on August 22, the Hang Seng index has already risen by more than 6%, as we suggested in the post on August 17th.
The...
EUR/GBP is declining and trading below the 0.8580 pivot level.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP is declining and showing bearish signs below 0.8580.
· There is a major bearish trend line forming with resistance near 0.8560 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair...
GBP/USD failed to climb above 1.2750 and trimmed all gains.
Important Takeaways for GBP/USD Analysis Today
· The British Pound is attempting a fresh increase from 1.2580.
· There is a key bearish trend line forming with resistance near 1.2655 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the...
