USD/CAD is recovering and might aim for a move toward the 1.3795 resistance.
Important Takeaways for USD/CAD Analysis Today
· USD/CAD declined toward the 1.3635 zone before the bulls took a stand.
· It broke a major bearish trend line with resistance near 1.3660 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at...
GBP/USD started a decent increase above the 1.2225 resistance.
Important Takeaways for GBP/USD Analysis Today
· The British Pound climbed above the 1.2225 and 1.2315 resistance levels.
· There is a connecting bullish trend line forming with support near 1.2315 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of...
According to Friday's data, in the US:
→ the unemployment rate rose to 3.9% (expected = 3.8%). The last time the level was this high was in February 2022.
→ the number of workers employed in the non-agricultural sector increased over the month by only 150k (+178k expected). The last time the figure was below 150k was in February 2021.
Published negative data...
What stocks do day traders trade? What stock types are more appropriate for swing traders? Selecting suitable stocks for trading requires an amalgamation of keen market understanding and thorough research. This process, while complex, is fundamental for traders aiming to navigate the ever-evolving financial markets with precision. Platforms like FXOpen provide...
AAPL shares rose approximately 1.2% during the session yesterday in anticipation of a strong Q3 report. It actually turned out better than predicted:
→ earnings per share: actual = USD 1.46; forecast = USD 1.39;
→ gross income: actual = USD 89.49 billion; forecast = USD 89.34 billion.
However, as a result, the price of AAPL shares decreased; in the pre-market on...
Market cycles are a cornerstone of financial trading, shaping the opportunities and risks faced by traders across various markets. This article delves into the key phases of market cycles, how they manifest in different trading arenas, and how traders can capitalise on these predictable patterns for trading success.
The Four Phases of Market Cycles
Market...
NZD/USD is also rising and could extend its increase above the 0.5915 resistance zone.
Important Takeaways for NZD USD Analysis Today
· NZD/USD is gaining bullish momentum above the 0.5870 support.
· There is a short-term contracting triangle forming with support near 0.5885 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the...
AUD/USD is moving higher and might climb above 0.6450.
Important Takeaways for AUD USD Analysis Today
· The Aussie Dollar started a fresh increase above the 0.6350 and 0.6400 levels against the US Dollar.
· There is a connecting bullish trend line forming with support near 0.6425 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the...
Today it became known about the level of inflation in Switzerland. Compared to the US, UK, and other countries, Switzerland can boast of a CPI of only 0.1%. The minimal increase in prices is due to an increase in fuel costs due to the rise in oil prices in the second half of the year. Thus, the country’s economy provides more arguments in favor of the protected...
The cryptocurrency market showed a correlation with the stock market, gaining bullish momentum amid softening rhetoric from the Federal Reserve.
The price of the main cryptocurrency reached USD 35,900 for the first time in 18 months.
Wherein:
→ the positivity is also due to expectations that the US Securities and Exchange Commission will approve a Bitcoin ETF....
As expected, the Fed left the rate unchanged. Market participants' attention was focused on Powell's press conference, as he said:
→ Risks have now become almost balanced;
→ Inflation expectations are at a good level.
The media publishes the opinions of experts who generally agree that although Jerome Powell has not ruled out the possibility of another rate...
As the chart shows, yesterday, the USD/CAD rate exceeded 1.389 for the first time in 2023. This happened against the backdrop of news regarding the economies of the USA and Canada:
→ Statistics Canada estimates that GDP contracted in the third quarter. Technically, it can be stated that the Canadian economy has entered a technical recession, as this is the second...
USD/JPY surged and broke the 151.00 resistance zone.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY climbed higher above the 150.00 and 151.00 levels.
· There was a break above a major bearish trend line with resistance at 149.85 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started...
EUR/USD is again moving lower below the 1.0615 support.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a fresh decline below the 1.0675 support zone.
· There was a break below a key bullish trend line with support at 1.0570 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen,...
Learning how to trade crude oil requires a nuanced understanding of its fundamental aspects, instruments, and trading strategies. This comprehensive article offers insights into the critical elements that affect crude oil prices, the range of instruments available for trading, and specific strategies traders use in this market.
The Basics of Crude Oil
Crude...
Amazon's quarterly report provided a ray of light in a gloomy environment for the tech-heavy US stock market, as the NASDAQ index fell last week to levels last seen in May.
→ AMZN EPS: actual = USD 0.94, expected = USD 0.58
→ Gross revenue: actual = $143.5 billion, expected = $141 billion
→ For the Q4, AMZN expects revenue of USD 160-167 billion
→ Revenue from...
Yesterday, the Nikkei newspaper reported that the Bank of Japan is considering adjusting its yield curve control (YCC) policy.
This provoked a strengthening of the yen (1). The USD/JPY rate dropped to a two-week extreme of 148.8 per US dollar in anticipation of news from the Bank of Japan.
The news followed this morning (2). The Bank of Japan kept interest...
Monday's opening came without any surprises. Despite the news that the Israeli army is moving to a new phase of the operation in Gaza, the price of Brent oil did not change much, trading started around the middle of the Friday candle.
The chart shows that the price of Brent oil has fluctuated between USD 86.60 and USD 89.10 since October 24th. At the same time,...
