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...
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.
According to statistics over the past 25 years, the average growth of the S&P 500 index is 7.8% per year. But from the beginning of 2023 to August 1, the index rose by about 19%, so a noticeable correction in size was overdue.
The decline from August 1st to the month's low was about 2/3 of the previous rise — a perfectly acceptable proportion to blow off steam...
The Stochastic Momentum Index (SMI) Ergodic indicator is a lesser-known tool. Still, it’s favoured by trend traders. In this article, we will uncover the mechanics of this indicator, its unique formula, and how traders can use it to trade trends and spot reversals.
What Is the SMI Ergodic Indicator?
The SMI Ergodic indicator, or Stochastic Momentum Index...
Since January, the Chinese yuan has weakened more than 9% against the US dollar due to problems in the Chinese economy, as evidenced by statistics, as well as the bankruptcy of the developer Evergrande.
And today, the People's Bank of China announced that it will reduce the required foreign exchange reserve ratio to 4% from 6%, starting September 15. The move is...
Crude oil price is rising and it could climb further higher toward the $85 resistance.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are also moving higher above the $82.00 resistance zone.
· There is a connecting bullish trend line forming with support near $82.80 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis...
Gold price is showing positive signs above the $1,925 pivot level.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a fresh increase above $1,920 and $1,925 against the US Dollar.
· A key bullish trend line is forming with support at $1,932 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of...
→ Revenue decreased by 10% to USD 13.2 billion compared to USD 14.65 billion a year ago. This was the third quarter in a row that HP fell short of analysts' estimates.
→ “While we expect another quarter of sequential growth in Q4, the external environment has not improved as quickly as anticipated and we are moderating our expectations as a result,” said HP CEO...
Back on August 21, gold was trading below USD 1,890 an ounce, but to date, its price has risen by about 3%. This was helped by published data on the number of vacancies in the US, which fell to the lowest level in almost 2.5 years in July. This and other signals of a slowdown in the US economy may influence the Fed's decision to continue raising interest rates...
On Tuesday, the price of bitcoin rose sharply from around USD 26,000 to USD 28,000 per coin. This was due to a ruling by the US District of Columbia Court of Appeals that said the Securities and Exchange Commission (SEC) was wrong to reject Grayscale's application to convert its Bitcoin Trust (GBTC) into a BTC Spot Exchange-traded Fund (ETF). A spot ETF would...
