The EUR/USD chart indicates an interesting situation from the point of view of technical analysis, namely, a “nested” head-and-shoulders pattern.
The global bearish SHS pattern is formed by the peaks of February, April, June.
The local bearish SHS pattern is formed by three peaks formed in the second half of June. This should give confidence to the bears, who...
Important Takeaways for NZD/USD Analysis Today
NZD/USD declined heavily below the 0.6125 support zone and tested 0.6050.
There was a break above a major bearish trend line with resistance near 0.6070 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD at FXOpen, the pair also followed a similar pattern and...
Important Takeaways for AUD/USD Analysis Today
The Aussie Dollar started a fresh decline from well above the 0.6750 level against the US Dollar.
There is a key bearish trend line forming with resistance near 0.6630 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly chart of AUD/USD at FXOpen, the pair started a fresh...
If you’re interested in trading but don’t have the time to day trade, position trading might be for you. In this guide, we’ll dive into the topic, answering the question, “what is position trading?” and providing some examples so you can develop your own strategy.
Position Trading Definition
To start, we need to define position trading. Position trading...
Yesterday, a forum of heads of central banks was held, organized by the ECB, with speeches by Lagarde, Powell, Ueda, Bailey. In general (with the exception of Japan), according to bankers, they intend to maintain a tight monetary policy, not excluding new increases in interest rates, and plan that inflation will continue to decline.
Against the background of this...
AAPL's price topped USD 189/share yesterday, coming close to the psychological USD 190/share level. Since the beginning of the year, the AAPL price has risen by about 50%.
The bullish momentum is fueled by both the AI hype and the improvement in Apple's product line:
→ Apple Watch Ultra and iPhone 15 expected this fall.
→ According to CNBC, the company is...
The GBP/JPY chart shows that this currency pair is in an uptrend (nearly +17% YTD) which can be explained by differences in economies. While the UK is fighting a rate hike against inflation (which has shown double digits), Japan continues to pursue an ultra-soft monetary policy.
Technically, the bulls still have a chance to reach the upper boundary of the channel...
USD/JPY is consolidating gains and might rally further above 144.20.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY is trading in a positive zone above the 143.40 and 143.70 levels.
· There is a major bullish trend line forming with support near 143.70 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at...
EUR/USD started a fresh increase above the 1.0890 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro is rising and trading well above the 1.0925 resistance zone.
· There is a key bullish trend line forming with support near 1.0940 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen,...
Volume is one of the most basic indicators that traders encounter. While it’s regularly overlooked in favour of more sophisticated indicators, volume analysis is a powerful tool that can help traders gauge trends, spot reversals and confirm breakouts. In this article, we’ll discuss the basics of trading volume, how to interpret it, and show you some popular...
USD/CAD fell below 1.3130 this morning, a level not seen since September 2022. The strength of the Canadian dollar can be justified, among other things, by the fact that the inflation rate in Canada is lower than in the US.
In April, we wrote that a false bullish break (indicated by a circle) of a triangle (shown in green) could indicate that a genuine break...
The yield curve compares three-month, two-year, five-year, 10-year and 30-year US Treasury bonds. Under a normal curve, the longer the maturity, the higher the yield.
However, analysts at Crescat Capital point to an inversion in the current bond market — yields on short-term bonds are clearly higher. This can be used as a harbinger of a sharp decline in the...
USD/CAD is struggling below 1.3210 and might decline further.
Important Takeaways for USD/CAD
· USD/CAD declined below the 1.3210 and 1.3185 support levels.
· A connecting bearish trend line is forming with resistance near 1.3185 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen, the pair started a fresh...
GBP/USD faced resistance near 1.2845 and started a downside correction.
Important Takeaways for GBP/USD
· The British Pound started a downside correction below the 1.2845 zone.
· There is a key bearish trend line forming with resistance near 1.2740 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen,...
After skyrocketing last week for the 3 reasons we wrote about earlier, the price of bitcoin hit a 2023 high on Friday, surpassing USD 31,400 per bitcoin. This was facilitated by the news that the SEC approved the first exchange-traded fund (ETF) of bitcoin futures with leverage.
In April, the bulls were already above the psychological level of USD 30k per...
Since the beginning of 2021, META and TSLA shares have seemingly been in competition with each other. Either the price of META is higher than the price of TSLA, or vice versa. The turn has come to the rivalry of the CEOs, in the literal sense.
It started when Zuckerberg announced the idea to create a competitor to Twitter. Musk probably didn’t like it, and in...
This week could be the worst for stock markets in 3 months after a series of interest rate hikes by central banks, writes Bloomberg.
The UK and Switzerland raised the rate by 0.25%. While the US Fed has left rates unchanged for now, Jerome Powell said another rate hike or two may be needed in 2023. Higher-than-expected inflation in Japan has also fueled...
Crude oil price is also declining and remains at a risk of more losses below $69.00.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are also moving lower below $71.20 and $70.20 levels.
· There was a break below a major bullish trend line with support near $70.85 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On...
