Market Analysis: GBP/USD Attempts Recovery
GBP/USD is attempting a fresh increase from the 1.2535 zone.
Important Takeaways for GBP/USD Analysis Today
The British Pound is attempting a recovery above the 1.2550 zone against the US Dollar.
There is a key rising channel forming with support at 1.2570 on the hourly chart of GBP/USD at FXOpen.
GBP/USD...
Ethereum Price Exceeds $2,800
The last time the ETH/USD price was at this level was in May 2022, which was the start of a massive drop of more than 65% in 1.5 months.
However, now the ETH/USD market is dominated by bullish sentiment, for the following reasons:
→ deployment of the Dencun update on the Ethereum network this month, which will open up new...
AUD/USD Price Reaction to Labour Market News Provides Important Information for Analysis
Australia's unemployment rate rose to a two-year high of 4.1% in January, while employment was little changed although analysts had expected around 25,000 new jobs, data released this morning showed.
It is believed that weak labour market data should prompt central bank...
According to data published yesterday:
→ Core CPI: actual = 0.4%, expected = 0.3%, past values = 0.3%
→ CPI: actual = 0.3%, expected = 0.2%, past values = 0.3%
Thus, the statistics dealt a blow to the hopes of market participants that inflation in the United States is fading and the Fed will lower interest rates. The figures suggest that tight monetary policy...
GBP/USD Price Declining after Encouraging UK Inflation Data Release
After yesterday's disappointing US inflation data, market participants were wary of UK inflation data. But they turned out to be more favorable.
→ Core CPI: actual = 5.1%, expected = 5.2%, past values = 5.1%
→ CPI: actual = 4.0%, expected = 4.1%, past values = 4.0%
Although in absolute...
Market Analysis: Crude Oil Price Extends Rally
Crude oil price is rising and it could climb further higher toward the $80 resistance.
Important Takeaways for Oil Prices Analysis Today
Crude oil prices are moving higher above the $76.10 resistance zone.
There is a key bullish trend line forming with support near $77.40 on the hourly chart of XTI/USD at...
Market Analysis: Gold Price Takes Hit
Gold price is declining below the $2,010 support zone.
Important Takeaways for Gold Prices Analysis Today
Gold price failed to clear the $2,032 resistance and corrected lower against the US Dollar.
It traded below a short-term rising channel with support at $2,020 on the hourly chart of gold at FXOpen.
Gold...
Rubber Band Strategy: How to Trade in a Flat Market
Navigating flat markets can often feel like sailing a ship with no wind. Yet, one strategy for flat trading, the Rubber Band, aims to change this perception by offering traders a disciplined approach to such conditions. Dive in to discover how to optimise your trading when the markets lack a clear trend.
The...
The last time the BTC price was above $50,000 was in December 2021, making its way to the low around $15,500 reached in November 2022.
Reaching the $50,000 level was facilitated by:
→ waiting for the halving, after which the price of Bitcoin is believed to receive a bullish impulse due to a reduction in supply;
→ the effect of the approval of a Bitcoin ETF;
→...
The price of the Nikkei 225 index is fixed above the level of 37,000 points. The last time this happened was after the index reached its all-time high in 1989.
The bullish behavior of the Japanese stock market has the following reasons:
→ Strong corporate reporting. In particular, SoftBank shares rose 11% due to increased sales of its subsidiary Arm, which...
Three of the Best Trend-Following Trading Strategies
In this comprehensive article, we explore effective strategies for identifying and capitalising on market trends. The article discusses some valuable insights and practical techniques to help traders manage the dynamic world of trading. Essential aspects covered include selecting the right indicators, managing...
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Bitcoin Recovers to January 11 Prices When ETFs Were Approved
Waiting for SEC regulatory approval of applications to create a Bitcoin ETF was an important driver of Bitcoin price growth at the end of 2023. However, when applications were actually approved on January 11, 2024 (here is what we wrote about it), there was a decline in cryptocurrency prices.
In...
USD/JPY Reaches 10-week High amid Statements by Head of Bank of Japan
Bank of Japan Governor Kazuo Ueda said today that there is a high likelihood that accommodative monetary conditions will continue even after the bank ends its negative interest rate policy — an event that is expected as early as next month, according to Reuters.
On the other hand, the USD...
Market Analysis: NZD/USD Grinds Higher
NZD/USD is rising and could extend its increase above the 0.6130 resistance zone.
Important Takeaways for NZD USD Analysis Today
NZD/USD is gaining bullish momentum above the 0.6080 support.
There was a break above a major bearish trend line with resistance at 0.6105 on the hourly chart of NZD/USD at FXOpen.
...
Market Analysis: AUD/USD Struggles
AUD/USD is declining below the 0.6540 support zone.
Important Takeaways for AUD USD Analysis Today
The Aussie Dollar started a fresh decline below the 0.6540 level against the US Dollar.
There is a connecting bearish trend line forming with resistance near 0.6510 on the hourly chart of AUD/USD at FXOpen.
AUD/USD...
Identifying Trending and Range-Bound Currencies
In the dynamic world of forex trading, recognising trending and range-bound currencies is crucial for making informed trading decisions and designing effective strategies. This article delves into the fundamentals of identifying these two types of market conditions in forex trading.
Understanding Trending...
The Price of S&P 500 Sets Historical Record By Exceeding 5,000
As the graph shows, yesterday, the price of the S&P 500 index exceeded the psychological level of 5,000 for the first time in history. Bullish sentiment in the US stock market is supported by 2 drivers.
Expectation of lower interest rates. So, yesterday, the head of the Minneapolis Fed, Neel...
