EUR/USD started a fresh decline from the 1.1050 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro started a fresh decline from the 1.1050 resistance against the US Dollar.
· There is a major bearish trend line forming with resistance near 1.1000 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
EUR/GBP is now consolidating losses below the 0.8740 resistance.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP started a fresh decline from the 0.8835 resistance zone.
· There is a major bearish trend line forming with resistance near 0.8740 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair...
GBP/USD is gaining bullish momentum above the 1.2600 resistance zone.
Important Takeaways for GBP/USD.
· The British Pound is showing a lot of bullish signs above the 1.2600 pivot level against the US Dollar.
· There is a key bullish trend line forming with support near 1.2600 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly...
Today, the British pound has updated its maximum since the beginning of the year. Here are the factors that contributed to this:
→ weakness of the US dollar due to the threat of default. The FT relays Yellen's words that the US Treasury Department's ability to bypass the default is running out;
→ the US dollar's weakness due to the banking crisis. According to...
If you’re wondering how to trade Fibonacci retracements, you’re in the right place. Today, we’ll be breaking down why traders use Fibonacci retracements and how you can apply them in your own trading, and we’ll list our top tips for making the most out of Fibonacci trading.
The Fibonacci Sequence for Trading
Fibonacci retracements make use of the Fibonacci...
The Fed raised the rate yesterday by 0.25%, to 5.25%.
→ Now market participants expect a pause in the tightening policy. Moreover, the WSJ is hinting that the rate hike cycle may already be over.
→ According to Powell, it is important to raise the US debt ceiling, but not just raise it, but raise it on time (that is, not drag it out).
→ The Fed believes that...
Over the past year, the price of crude oil has been interestingly volatile.
In keeping with other periods in modern history during which the United States has been involved in geopolitical conflicts with regions outside of the Western world, oil prices have been varying with verve and vigour since 2020.
Back in the 1970s, the famous' oil crisis' was caused by...
USD/JPY rallied significantly above 137.00 and recently started a downside correction.
Important Takeaways for USD/JPY
· USD/JPY started a major rally above the 136.00 and 137.00 levels.
· There was a break below a key bullish trend line with support near 137.45 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 1.1000 resistance.
Important Takeaways for EUR/USD
· The Euro is rising and gaining pace above the 1.1000 resistance zone.
· There was a break above a key bearish trend line with resistance near 1.1000 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen,...
According to Reuters, market participants were waiting for a pause in a series of interest rate hikes, as the data showed a slowdown in inflation. However, the Reserve Bank of Australia on Tuesday raised the rate by 25 basis points.
"Inflation in Australia has passed its peak, but at 7 percent is still too high and it will be some time yet before it is back in...
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On Friday morning, the EURJPY rose above 149 yen per euro on news from Japan. There, unemployment rose to 2.8% (expected 2.5%, last month 2.6%, a year ago 2.6%), it was higher only in the summer of 2021 (2.9%).
Market participants also followed the meeting of the Bank of Japan, which is now managed by Kazuo Ueda. As expected, the Bank of Japan said it would...
Crude oil price is consolidating losses and struggling to recover above $75.20.
Important Takeaways for Oil
· Crude oil prices declined heavily below the $79.00 and $76.50 support levels.
· There is a major bearish trend line forming with resistance near $75.20 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of Crude...
Gold price is struggling to gain momentum above the HKEX:2 ,003 resistance.
Important Takeaways for Gold
· Gold price seems to be trading in a range below the HKEX:2 ,010 resistance against the US Dollar.
· A key bullish trend line is forming with support near HKEX:1 ,982 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly...
Yesterday's report showed that inflation in Australia in the first quarter of 2023 fell from a 33-year high. The consumer price index rose only by 1.4% in annual terms, although analysts had expected +1.9%.
Now market participants are focusing on the meeting of the Reserve Bank of Australia on May 2; it is expected that it will resume raising rates and thereby...
USD/CHF is rising and might aim for more gains above the 0.8930 resistance.
Important Takeaways for USD/CHF
· USD/CHF started a fresh increase above the 0.8900 resistance zone.
· There was a break above a major bearish trend line with resistance near 0.8895 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen,...
EUR/USD started a downside correction from the 1.1070 resistance.
Important Takeaways for EUR/USD
· The Euro started a fresh decline from the 1.1070 resistance against the US Dollar.
· There is a key bullish trend line forming with support near 1.0970 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at...
Have you ever noticed that market movements often seem to occur in repeatable patterns? Well, that’s where Fibonacci extensions come into play. Join us in this article as we dive into the world of Fibonacci extensions and discover how they can be a strong addition to your trading arsenal.
A Primer on Fibonacci Ratios
Fibonacci ratios are derived from the...
