A bearish engulfing pattern (1) has formed on the gold price chart. Two facts make it important:
→ the pattern has formed at the line (2) of the resistance of the trend channel, originating at the end of 2019;
→ the pattern was formed against the background of the discussed news about the US economy, which affected the value of the US dollar.
On Thursday, the...
USD/CAD is recovering and might gain pace if it clears the 1.3370 resistance.
Important Takeaways for USD/CAD
· USD/CAD declined below the 1.3450 and 1.3400 support levels.
· A major bearish trend line is forming with resistance near 1.3370 on the hourly chart at FXOpen.
USD/CAD Technical Analysis
On the hourly chart of USD/CAD at FXOpen, the pair started a...
GBP/USD faced resistance near 1.2540 and started a downside correction.
· The British Pound started a downside correction below the 1.2500 zone.
· There was a break below a key bullish trend line with support at 1.2455 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the pair was able to climb above...
Watch FXOpen's April 10-14 Weekly Market Wrap Video
🌐 FXOpen official website: www.fxopen.com
CFDs are complex instruments and come with a high risk of losing your money.
WTI is consolidating and might aim for a fresh increase above $83.25.
Important Takeaways for Oil
Crude oil price also gained pace and was able to climb above the $82.00 resistance.
There is a key contracting triangle forming with support near $82.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of XTI/USD...
Gold Price Inches Higher
Gold price is rising and trading above the $ 2030 resistance.
Important Takeaways for Gold
Gold price started a fresh increase above the $ 2020 resistance against the US Dollar.
A key bullish trend line is forming with support near $ 2030 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly...
Gold price is rising and trading above the HKEX:2 ,030 resistance. WTI is consolidating and might aim for a fresh increase above $83.25.
Important Takeaways for Gold and Oil
Gold price started a fresh increase above the HKEX:2 ,020 resistance against the US Dollar.
A key bullish trend line is forming with support near HKEX:2 ,030 on the hourly chart of...
A short digest of the fresh and saturated news background:
→ Inflation in the US coincided with analysts' expectations. Core CPI was 5.6% in annual terms. The main problem for suppressing inflation is the rise in prices for energy resources (oil has updated the maximum of the year). According to Bloomberg, the union of Russia and Saudi Arabia in the oil market...
EUR/GBP is struggling and facing resistance near 0.8790.
Important Takeaways for EUR/GBP
EUR/GBP is struggling to break the 0.8790 resistance zone.
There is a major bullish trendline forming with support near 0.8770 on the EUR/GBP hourly chart.
EUR/GBP Technical Analysis
On the hourly chart at FXOpen, the Euro traded in a small range below the 0.8790...
GBP/USD started a fresh increase above the 1.2400 resistance zone.
Important Takeaways for GBP/USD and EUR/GBP
The British Pound started a fresh increase above the 1.2400 barrier against the US Dollar.
There was a break above a key bearish trendline with resistance near 1.2410 on the hourly chart of GBP/USD.
GBP/USD Technical Analysis
This past week,...
The USDJPY yesterday reached its highs of several weeks.
This was facilitated by:
→ a statement by the new head of the Bank of Japan, Kazuo Ueda, who made it clear that there is no need to rush to curtail the stimulus policy;
→ Friday's US employment report, which strengthened expectations of the Fed's interest rate hike in May. Unemployment fell to 3.5%,...
EUR/JPY is rising and might rally further if it clears the 145.40 resistance zone.
Important Takeaways for EUR/JPY
EUR/JPY started a steady increase after it found support near 142.50.
There is a major bullish trend line forming with support near 144.20 on the hourly chart.
EUR/JPY Technical Analysis
On the hourly chart of EUR/JPY, the Euro formed...
EUR/USD is consolidating above the key 1.0880 support zone.
Important Takeaways for EUR/USD
The Euro started a downside correction from the 1.0970 zone.
There is a key bearish trend line forming with resistance near 1.0910 on the hourly chart at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD, the Euro remained well-bid above the...
GBP/JPY is rising and might aim for more upsides above the 164.00 resistance.
Important Takeaways for GBP/JPY
GBP/JPY is slowly moving higher from the 163.00 zone.
There is a key rising channel forming with support near 163.75 on the hourly chart.
GBP/JPY Technical Analysis
The British Pound started a fresh decline from the 166.40 zone against the...
GBP/USD started a downside correction from the 1.2520 resistance zone.
Important Takeaways for GBP/USD
The British Pound failed to break above the 1.2520 resistance and corrected lower against the US Dollar.
There is a key bearish trend line forming with resistance near 1.2460 on the hourly chart of GBP/USD.
GBP/USD Technical Analysis
This past...
Japan's economy has been regarded ever since the 1960s as an absolute lesson in socio-economic advancement to the extent that the entire world views Japanese products, cuisine, intellect and culture among the most enviable globally.
One particular Japanese motor manufacturer has used the slogan "The relentless pursuit of perfection" in its marketing to Western...
ANZ Bank does away with cash; Australian Dollar responds with volatility
There are those who look forward to the day when the entire society in which they live goes completely cashless, and there are those who regard such a possibility with absolute dread.
Many nations with developed and advanced financial markets ecosystems are now heading toward the next stage...
GBP/JPY could rise further if there is a clear move above the 165.70 resistance.
Important Takeaways for GBP/JPY
· GBP/JPY is showing a lot of bullish signs above the 162.50 support.
· There was a break above a key contracting triangle with resistance near 162.65 on the daily chart.
GBP/JPY Technical Analysis
The British Pound started a fresh increase...
