This week 166 companies that make up 33% of the S&P 500 index will publish their reports for the second quarter. Among them, the second largest company in the index, Microsoft. And here, an interesting situation develops: the fundamental background is quite strong, and technical analysis shows signs of weakness. Judge for yourself.
Fundamental analysis:
→ the...
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
🌐 FXOpen official website: www.fxopen.com
CFDs are complex instruments and come with a high risk of losing your money.
On July 18, we wrote about the vulnerability of the market to a rollback from the block of resistance, which is formed by the level of 1.12 euros per US dollar and the upper line of the rising channel. Since then, the EUR/USD price has fallen by more than 1%.
The most noticeable was yesterday's decline in the price of EUR/USD, which was due, among other things,...
Trading reversals can often lead to successful trades, but identifying them is harder than it may seem. One tool that can offer valuable insights into reversals is the Bill Williams Fractal indicator. In this article, we’ll explore how this indicator works, its uses, and three effective fractal trading strategies.
What Is a Fractal?
In the world of...
Gold price is correcting lower from the $1,988 resistance.
Important Takeaways for Gold Price Analysis Today
Gold prices failed to clear the 1,988 resistance and corrected lower against the US Dollar.
Gold traded below a key bullish trend line with support at $1,980 on the hourly chart at FXOpen.
Gold Price Technical Analysis
On the hourly chart...
Crude oil price is rising as the bulls aim for a move above the $72.20 resistance.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices are also moving higher above the $71.50 resistance zone.
· There is a key bullish trend line forming with support near $70.50 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the...
This is the most successful series in almost 6 years. Shares of JNJ helped demonstrate it to the US30 index, which rose by 6% after a strong report — J&J's profit and revenue turned out to be higher than expected. Sales worldwide grew by 6.3% in annual terms.
Unusually for 2023, the Dow Jones US30 is now acting stronger than the Nasdaq 100 technology stock...
Participants in financial markets were closely watching yesterday the data on inflation in the UK, where it is at the highest level among the G7 countries. The news turned out to be positive:
→ CPI was 7.9% (forecast = 8.2%, last month = 8.7%) in annual terms;
→ core CPI dropped from 31-year high from 7.1% to 6.9%.
Consequently:
→ the price of the British pound...
In mid-October 2022, the NFLX share price was about $250; in those days we wrote the post “Is Netflix starting a new bull season?”. Since then, the NFLX stock has more than doubled in price. But after the publication of yesterday's news, everything has changed, hence the headline.
The company added nearly 6 million subscribers in the quarter, with a forecast of...
Discovered by renowned trader Scott Carney in 2011, the Shark harmonic pattern is a relatively new addition to the world of technical analysis. But don't let that deter you – the Shark is an effective tool that can help traders predict future market reversals. In this article, we’ll take a deep dive into the world of the Shark pattern, the steps you need to...
USD/CHF is showing bearish signs below the 0.8650 resistance zone.
Important Takeaways for EUR/USD and USD/CHF Analysis Today
USD/CHF is consolidating losses below the 0.8650 resistance.
There is a key bearish trend line forming with resistance near 0.8590 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at...
EUR/USD started a strong increase above the 1.1150 resistance.
Important Takeaways for EUR/USD Analysis Today
The Euro gained pace against the US Dollar after it broke the 1.1150 resistance.
There is a major bullish trend line forming with support near 1.1225 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart...
The crypto community continues to discuss the victory of Ripple Labs in court against the SEC, expecting that the regulator:
→ also loses in court against Binance, Coinbase;
→ approves Black Rock's Bitcoin ETF application.
Crypto exchanges are resuming trading in the XRP token, and according to media reports, Congressman Richie Torres has appealed to SEC...
Already tomorrow, investors will learn about the results of Tesla's activities for the Q2, expectations are positive. TSLA share price rises on the news that the company has started production of the Cybertruck model. Up to 10,000 Cybertrucks could be produced this year, according to Barron's. Also positive is the information that Tesla can increase production at...
Last week, the dollar index posted its worst week of 2023 amid news of declining US inflation, which was seen as a motive for easing the Fed's current tight monetary policy. "I think the dollar can stay under selling pressure," Carol Kong, currency strategist at Commonwealth Bank of Australia, told Reuters.
On the other hand, inflation in the Eurozone is not...
→ WSJ: Analysts expect S&P 500 companies to report lower profits. The key question is how long companies can protect profits by passing on higher costs to customers.
→ Bloomberg: S&P 500 companies are expected to record a 9% drop in earnings in the Q2, making it their worst season since 2020.
Articles were published in two leading financial publications, where...
Swing trading is a style employed by many traders looking to combine the intensity of day trading with the strategic planning of long-term investing. In this article, we’ll be taking an in-depth look at four of the best strategies for swing trading, offering information on entry criteria, stop-loss placements, and taking profits.
What Is Swing Trading?
Swing...
EUR/GBP is eyeing more gains above the 0.8575 resistance zone.
Important Takeaways for EUR/GBP Analysis Today
EUR/GBP started a fresh increase from the 0.8500 zone.
There is a major bullish trend line forming with support near 0.8565 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a...
