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...
The McGinley Dynamic indicator is an understated tool that many are unaware of, offering an innovative approach to minimising lag in moving averages and reacting to fast-moving financial markets. In this article, we will explore how this indicator works, how to set it up, and what signals it produces.
Understanding the McGinley Indicator
Introduced by John...
Crude oil price is also declining and showing bearish signs below $80.00.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are also moving lower below the $80.00 resistance zone.
· There is a key bearish trend line forming with resistance near $80.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly...
Gold price is moving lower from the $1,930 resistance.
Important Takeaways for Gold Prices Analysis Today
· Gold price failed to clear the 1,930 resistance and moved lower against the US Dollar.
· A major bearish trend line is forming with resistance near $1,895 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of...
Today, the price of the Hang Seng index fell below the level of 18,000 for the first time since November 2022. The media is publishing materials about the slowdown in the Chinese economy (which is confirmed by statistics) and the lack of expected government stimulus.
The FT writes that foreign investors have canceled purchases of Chinese shares worth USD 7.4...
July was marked by the end of the trial between the SEC regulator and Ripple Labs in favor of the latter, which led to a sharp increase in the XRP token to a price above USD 0.9, but then a rollback followed after the first emotional reaction.
By the way, the trial is not completed yet. As it became known, the SEC intends to appeal the court's decision.
...
Yesterday, data from Statistics Canada was published, which testified to the stability of inflation in the country: the rise in prices for the month amounted to +0.6% (+0.3% was expected).
This increased the likelihood that the Bank of Canada will raise the rate yet again. Now it is at a maximum for 22 years and is 5.0%.
As a result, USD/CAD is declining today...
Yesterday, the S&P 500 fell below the 4,440 level — the last time the price of the S&P 500 was this much was on July 12.
The following contributed to the decline in the stock market:
→ strong US retail sales data (actual: +0.7%, expected +0.4%, last month: +0.2%). Market participants fear that interest rates may remain high for longer;
→ information that Fitch...
The Chaikin Oscillator is a powerful momentum indicator that can help traders uncover hidden trading opportunities and spot emerging trends. In this article, we’ll delve into its inner workings, explore how to interpret its signals and show you how it can be applied.
What Is the Chaikin Oscillator?
The Chaikin Oscillator, developed by Marc Chaikin, is a...
USD/CHF is rising and might aim a move toward the 0.8850 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.8745 resistance zone.
· There is a key bullish trend line forming with support near 0.8760 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 fresh decline below the 1.0000 support.
Important Takeaways for EUR/USD Analysis Today
· The Euro struggled to clear the 1.1040 resistance against the US Dollar.
· There is a major bearish trend line forming with resistance near 1.0920 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at...
Shares of Nvidia are the main newsmakers of the stock market at the beginning of this week. As the chart shows, NVDA opened at USD 403.45 per share on Monday and is trading above USD 440 (over +9%) in premarket Tuesday.
The reasons for this are as follows:
→ analysts at Morgan Stanley confirmed their bullish outlook on the stock;
→ positive expectations from...
