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...
EUR/GBP declined heavily below the 0.8600 and 0.8565 support levels.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP is trading in a bearish zone below the 0.8565 pivot level.
· There is a major bearish trend line forming with resistance near 0.8545 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at...
GBP/USD is attempting a recovery wave above the 1.2700 resistance.
Important Takeaways for GBP/USD Analysis Today
· The British Pound is attempting a fresh increase above 1.2700.
· There is a key contracting triangle 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...
In 3 trading sessions this week, the S&P 500 is down approximately 2.85%. This pace has not been observed since March, when traders feared a banking crisis.
Possible reasons for the current decline:
→ at the end of August there will be a summit in Jackson Hole, where representatives of central banks will gather. Powell is expected to speak on August 25. It is...
This morning the BTC/USD price is near 26,500, the lowest price since mid-June.
What is the reason for this? Among the drivers of the decline may be information that Elon Musk's SpaceX company intends to sell (or has already sold) USD 373 million worth of bitcoins. However, the collapse could have been influenced more by technical than by fundamental factors.
On...
