AUD/USD declined below the 0.6450 and 0.6430 support levels.
Important Takeaways for AUD/USD Analysis Today
· The Aussie Dollar started a fresh decline from well above the 0.6480 level against the US Dollar.
· There was a break below a key bullish trend line with support near 0.6430 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the...
USD/CAD is holding gains above 1.3560 and might start another increase.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD is correcting gains from the 1.3640 resistance zone.
· There is a key bullish trend line forming with support near 1.3585 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen, the...
GBP/USD is struggling to recover above 1.2665.
Important Takeaways for GBP/USD Analysis Today
· The British Pound started a fresh decline from the 1.2720 resistance zone.
· There is a major bearish trend line forming with resistance near 1.2620 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen,...
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
🌐 FXOpen official website: www.fxopen.com
CFDs are complex instruments and come with a high risk of losing your money.
The US Energy Information Administration said on Thursday that natural gas inventories in US storage rose by 18 billion cubic feet in the week ended Aug. 18. That was below the 29 billion cubic feet increase forecast by analysts polled by S&P Global Commodity Insights.
It is possible that market participants thought that insufficient filling of storage facilities...
At the same time, all the positives associated with a strong Nvidia report were offset by yesterday's decline. Probably, the closer Powell's speech is (his speech at the Jackson Hole symposium, which brought together representatives of central banks, is scheduled for today 17:05 GMT + 3), the more market participants fear his hawkish rhetoric. Note that ECB...
The Vortex indicator is a lesser-known trading tool, but it can serve as a valuable aid in trend detection and confirmation. In this FXOpen article, we will break down the Vortex indicator, its calculation, and how to use it when trading.
What Is the Vortex Indicator (VI)?
The Vortex indicator (VI or VTX) is a versatile technical analysis tool developed by...
The publication of news on the UK PMI index yesterday signaled an acceleration of the downturn in business activity. The index value was 42.5 (values below 50 indicate a slowdown in the economy). This is the thirteenth consecutive reading of the index below 50, with readings below 42.5 last recorded during the height of the pandemic in the spring of 2020.
The...
As the chart shows, US Crude Oil fell below USD 78 yesterday for the first time since July 25. This was facilitated by:
→ fears of a crisis that could follow from the collapse of the Chinese property developer Evergrande;
→ alarming PMI data from different economies. Japan reported a contraction in manufacturing activity for the third month in a row. Business...
The last time this classic indicator dropped below the 20.0 level was in March 2020, when the world panicked due to the spread of the coronavirus.
The extremely low RSI values indicate an extremely oversold market — it was formed as a result of the collapse of the BTC/USD rate on August 17, the reasons for which are not clear.
Among the versions are:
→...
USD/JPY is correcting gains and might test the 144.90 support in the near term.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY struggled near 146.40 and recently started a downside correction.
· There is a major bearish trend line forming with resistance near 145.85 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of...
EUR/USD started a fresh decline from 1.0930.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a fresh decline below the 1.0880 support.
· There was a break below a key bullish trend line with support at 1.0890 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 a...
The Money Flow Index (MFI) is an indicator that measures the flow of money into and out of a particular financial asset and provides insights into the strength and direction of price trends. It’s an oscillator, like the RSI, Stochastic, and Awesome Oscillator. Moreover, it provides similar signals to the Stochastic. Is it worth learning about? Definitely, and in...
Yesterday, TSLA's share price rose 7%, while the S&P 500 index also started the week positively, showing an increase of approximately 0.7%.
According to the media, the reason for the upward momentum was the fact that investment company Baird noted a number of positive factors that await Tesla in the 2nd half of the year, including the launch of Cybertruck. The...
From the high of the year, set on July 18 near the level of 1.125, the price of EUR/USD fell in 1 month to the support of 1.085 (-3.4%). Today, the EUR/USD chart shows that the market is forming a rebound from this support, which has been in place since mid-June. What will be the further development?
Bullish arguments:
→ The market is in an uptrend (indicated...
In the complex world of trading, tools that can help traders gauge the strength of price movements are invaluable. One indicator favoured for this ability is the force index, and today, we’ll be taking a closer look at how it works, how it’s calculated, and where it’s best applied.
What Is the Force Index?
The force index indicator, sometimes called the...
Gold Price Updates Minimum of the Year against the Background of Rising Yields of US Govt Bonds
Treasury yields are rising, especially for long-term periods. For example, the yield on 10-year bonds today is 4.28%, and a month ago it was 3.88%, a year ago, 3.02%. Barron's writes that yields may continue to rise amid sustained inflation.
Rising US government...
