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...
Gold price is moving lower below the $1,928 support.
Important Takeaways for Gold Prices Analysis Today
· Gold price failed to clear the $1,965 resistance and start a fresh decline against the US Dollar.
· It is now following a key bearish trend line with resistance near $1,915 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the...
Are you looking for a way to take advantage of short-term market movements without the stress of day trading? Look no further than swing trading. In this article, we’ll dive deep into the world of swing trading, exploring how it differs from day trading, discussing its advantages and disadvantages, and taking a look at some of the most popular swing trading tools...
According to MarketWatch, Mark Stevens, an Nvidia board member, sold 118,602 NVDA shares in the Friday and Tuesday trading sessions, raising over USD 50 million.
Earlier it became known about the sale of shares of 2 more top managers of Nvidia:
→ Tench Coxe announced a USD 21 million share sale, having sold USD 38 million worth of shares earlier this month.
→...
Yesterday, the BTC price topped USD 30k for the first time since April. There may be several reasons, among them:
→ Powell's speech to lawmakers on Capitol Hill yesterday. The Fed chief said further rate hikes are a pretty good guess as to where the Fed is heading. The dollar index reacted to his hawkish statement with a fall. At the same time, it pushed up the...
USD/CHF is rising and might aim a move toward the 0.9055 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is recovering higher above the 0.8945 resistance zone.
· There is a key rising channel forming with support near 0.8970 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair...
EUR/USD started a decent increase above the 1.0860 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro gained pace after it broke the 1.0860 resistance against the US Dollar.
· There is a major bullish trend line forming with support near 1.0905 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
CPI (Consumer Price Index) was 8.7% in annual terms (8.4% — forecast, 8.7% last month).
Core CPI (excluding prices for food, energy, tobacco and alcohol) rose to 7.1% in annual terms (6.8% — forecast, 6.8% last month). This is the highest core inflation since 1992.
News of persistently high inflation may have an impact on the decision of the Bank of England on...
The price of bitcoin is rising to the highs of June after a sharp drop that happened due to SEC lawsuits against the Binance and Coinbase exchanges.
Fortunately for crypto investors, the situation did not go according to the worst-case scenario. The court did not freeze Binance.US funds, giving the regulator and exchanges the opportunity to find a compromise. But...
Cryptocurrencies are known for their volatility. While that may put some traders off, it creates many potentially lucrative scalping opportunities for those with significant experience and who can react quickly. In this article, we’ll explore five top crypto scalping strategies and help you learn how to scalp crypto effectively with a simple framework.
What...
