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The EUR/USD Rate Set a 16-Week High According to the EUR/USD chart, the euro to dollar exchange rate yesterday surpassed the peak from early June, rising above 1.092 – the last time the price was at this level was on March 21. Bullish sentiments in the market were supported by: → Approaching Thursday's meeting of the European Central Bank – it is expected that interest rates will remain unchanged. However, attention will be focused on comments from its president Christine Lagarde regarding the timing of the next interest rate cut. → Expectations of rate cuts by the Federal Reserve in September. As Reuters reports, Powell stated yesterday that economic indicators in the US for the second quarter "to some extent bolster the confidence" that inflation is returning to the target level in a sustainable manner. As we mentioned in our analytical review of the EUR/USD chart on July 1: TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Insiders Are Selling Shares of Large Companies Yesterday, the S&P 500 stock index (US SPX 500 mini on FXOpen) set another historical high, closing near the 5650 level. However, similar records are not observed on the charts of rally leaders from the first half of 2024 – NVDA's price is 8.6% below its historical high, MSFT is 3.1% lower, and GOOGL is 2.6% below its record. And this isn't the only cause for concern. Insider sales, as indicated by reports to the SEC, could add to anxieties. For instance: → Bezos sold over $900 million worth of AMZN shares; → Nvidia board member Mark Stevens continues to sell NVDA shares, as does company CEO Jensen Huang. According to Goldman Sachs, fund managers have increased their long positions in US stock index futures to record levels. And according to a July survey of fund managers conducted by Bank Of America: → Market sentiment remains bullish amid expectations of a Fed rate cut and a soft landing for the economy; → Geopolitics now pose the biggest risk to markets, followed by inflation. If professional market participants foresee further growth in the stock index, it might not be driven by shares of large companies. On June 27, we discussed the bullish "cup and handle" pattern near the $190 level on the AMZN price chart. Since then, bulls have shown the ability to push the price towards the psychological level of $200, but they have not managed to sustain this success. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

GBPUSD Technical Analysis – 16th JULY, 2024 GBPUSD – Bearish Harami Cross GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2993 the prices started to decline steadily against the United States dollar. We can see the formation of Bearish Harami Cross pattern in the weekly timeframe. The prices of GBPUSD are also ranging near horizontal resistance in the monthly timeframe. We can also see the formation of Black gravestone/ inverted hammer pattern in the weekly timeframe which is also indicative of the bearish trends. The prices of GBPUSD are moving near resistance of channel in both the daily and weekly timeframes. GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average. • Pound Bearish Reversal seen below the 1.2993 mark. • Short-term range appears to be Mild Bearish. • GBPUSD continues to remain above the 1.2950 levels. • Average true range ATR is indicating less market volatility. GBPUSD is now trading just near to its Pivot levels of 1.2958 and is moving into a Mild Bearish channel. The price of GBPUSD is above its Classic support levels of 1.2945 and is now moving towards its next target of 1.2955 which is a Pivot Point 1st Support Point. We are also looking for the breach of the levels of 1.2942 which is a Pivot Point 2nd Support Point. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 16th JULY, 2024 EURUSD – Bearish Price Crossover EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0921 the prices started to decline against the United States dollar. We can see the formation of Bearish price crossover pattern with Adaptive Moving average AMA20 in the 4-hourly timeframe. The Parabolic SAR indicator is giving a bearish reversal signal in the 4-hourly timeframe. The support of the channel is broken in the 15-minutes timeframe. The Momentum indicator is also back under zero in the 4-hourly timeframe indicating the bearish nature of the market. We have also seen the prices of EURUSD ranging near a new low record of 1-month. EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. • Euro Bearish Reversal seen below the 1.0921 mark. • Short-term range appears to be Mildly Bearish. • EURUSD continues to remain above the 1.0880 levels. • Average true range ATR is indicating less market volatility. The next support resistance is located at 1.0876 which is a Pivot Point 1st Support Point. EURUSD is now trading below just near to its Pivot levels of 1.0889 and is moving into a Mild Bearish channel. The price of EURUSD remains above its Classic support levels of 1.0878 and is moving towards its next target of 1.0871 which is a 14-3 Day Raw Stochastic at 80%. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

CPI Report: How Can You Use It in Trading? The Consumer Price Index (CPI) report is a vital economic indicator that measures inflation by tracking changes in the prices of goods and services. Understanding CPI data is crucial for traders as it influences interest rates, market trends, and investment strategies. This article delves into the intricacies of the CPI report, explaining its significance and how traders can utilise it in their trading decisions. Understanding the CPI Understanding the CPI is crucial for grasping inflation trends and their broader economic implications. The CPI measures the average price change over time, generally a year, quarter, or a month, for a basket of goods and services typically purchased by households. TO VIEW THE FULL ARTICLE, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

What Is a Parabolic Arc Pattern, and How Can You Trade It? The parabolic arc pattern is a significant formation in technical analysis, showcasing rapid, exponential price movements that signal significant bullish momentum followed by sharp reversals. This article delves into identifying, trading, and managing the risks associated with parabolic arcs. Understanding the Parabolic Arc Pattern The parabolic arc or parabolic curve is a technical chart pattern that signals a potential reversal. It is characterised by a steep, exponential rise in asset prices, followed by a sharp decline. TO VIEW THE FULL ARTICLE, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

Is There the Best Time to Trade Stock CFDs? If you ask experienced traders, many will say that they trade on certain days or at certain times of the day. Their choice is determined by the market dynamics, volatility, and liquidity. It’s crucial to understand when the best time of the day, week, and month to trade stocks may be. This FXOpen article delves into the intricacies of timing, which may help traders optimise their strategies for greater effectiveness. Is There the Best Time to Day Trade? The operational hours of stock markets vary according to their respective time zones, resulting in differing opening and closing times. For example, the US stock market opens at 9:30 and closes at 16:00 local time, while the UK market opens at 8:00 and closes at 16:30 local time. The theory states that to identify potentially the best time frame for day trading, many traders break the day into four blocks, such as the opening bell, mid-morning, lunch hour, and afternoon, and look at the advantages and challenges that each timeframe presents. TO VIEW THE FULL ARTICLE, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

The Nikkei Index Has Risen To a Two-Month High As we reported on 26th June, analysing the Nikkei 225 chart (Japan 225 on FXOpen): → The price is in a significant upward trend (shown by the blue channel); → The price may continue to rise along the median line. Since then, the Nikkei 225 index (Japan 225 on FXOpen) has increased by more than 6%, reaching a yearly high on 10th July above 42,500 points. The price particularly surged on 9-10 July, breaking resistance at 41,160 (formed from the previous peak at the end of March). However, the bears made a strong comeback afterwards, pushing the price back to the 41,160 level. Thus: → Completely offsetting the gains from 9-10 July; → Forming a bearish engulfing pattern spanning 4 candles; → Prompting consideration that the breakout above 41,160 was false (a trap for bulls). According to Reuters, bearish drivers included technology stocks such as Tokyo Electron, which saw a more than 6% decline in one day, following sell-offs in US technology stocks (as reported on 12th July). Sentiment in the Japanese stock market is also influenced by risks of interventions by the Bank of Japan to support the yen. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Watch FXOpen's 8 - 12 July Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: GBP/USD, EUR/USD, USD/JPY, XAU/USD, NVDA Stock Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. GBP/USD Hits Four-Month High Following GDP Growth News Market Analysis: EUR/USD Jumps, USD/JPY Bulls Seem Unstoppable XAU/USD Analysis: Gold Price Falls from Six-Week High Analysts Raise NVDA Forecasts, Stock Price Rises Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions. FXOpen YouTube Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. #fxopen #fxopenyoutube #fxopenint #weeklyvideo

Analysis of USD/JPY: Was There an Intervention? Yesterday’s news of slowing inflation in the US sharply weakened the dollar, anticipating the Federal Reserve’s monetary easing. In the first 15 minutes after the data release: → EUR/USD rose by approximately 0.45% to the psychological level of 1.09; → GBP/USD increased by approximately 0.55%, reaching a 2024 high. Conversely, USD/JPY fell, with a more aggressive movement. As the chart shows, the dollar weakened against the yen by about 1.8% in the first 15 minutes after the release. This suggests that amidst the US news, the Bank of Japan intervened to support its currency, which hadn’t fallen below 160 yen per USD since June 26. Reuters reports that Tokyo’s chief currency diplomat, Masato Kanda, stated on Friday that authorities would take necessary measures in the currency market but declined to comment on whether they had intervened. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

The Nasdaq 100 Index Fell Despite Positive Inflation News Yesterday, Consumer Price Index (CPI) values were published, indicating a slowdown in the rate of inflation in the USA. According to ForexFactory: → CPI month-on-month: actual = -0.1%, forecast = 0.1%, previous month = 0.0%; → CPI year-on-year: actual = 3.0%, forecast = 3.1%, previous month = 3.3%. The data confirming the slowdown in inflation raised expectations that the Federal Reserve might lower interest rates as early as September. But why did the Nasdaq 100 (US Tech 100 mini on FXOpen) drop then? Yesterday, the tech stock index fell by over 2.1%, marking its worst day since early May. The reason lies in rotation. Investors seem to have shifted their focus from the highly inflated tech stocks since the start of 2024 to other sectors. Approximately 400 companies in the S&P 500 index (US SPX 500 mini on FXOpen) showed growth. Meanwhile, the Dow Jones Industrial Average (Wall Street 30 mini on FXOpen) closed in the green yesterday. Bloomberg reports that Kelly Cox from Ritholtz Wealth Management believes this day could be a turning point for the markets. It also serves as a good reminder of the importance of diversification. One of the drivers of yesterday's decline was NVDA shares, which fell by more than 5% in a day (we wrote about the bearish behaviour of Nvidia’s price and volumes just the day before). What’s next? The equal-weighted version of the S&P 500, where stocks like Nvidia have the same weight as Dollar Tree Inc., rose yesterday. This version of the index is less sensitive to the influence of large tech companies, making a case for the rally expanding to other stocks. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Market Analysis: GBP/USD Eyes 1.3000 While EUR/GBP Struggles GBP/USD is gaining pace above the 1.2900 resistance. EUR/GBP declined and is now consolidating losses above the 0.8400 region. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is attempting a fresh increase above 1.2950. There is a key bullish trend line forming with support near 1.2910 on the hourly chart of GBP/USD at FXOpen. EUR/GBP is trading in a bearish zone below the 0.8440 pivot level. There was a break above a connecting bearish trend line with resistance near 0.8425 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair remained well-bid above the 1.2750 level. The British Pound started a decent increase above the 1.2850 zone against the US Dollar. The bulls were able to push the pair above the 50-hour simple moving average and 1.2900. The pair even climbed above 1.2925 and traded as high as 1.2949. Recently, there was a minor decline below the 23.6% Fib retracement level of the upward move from the 1.2775 swing low to the 1.2949 high, but the bulls were active above 1.29700. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

PepsiCo Stock Rebounds from Yearly Low Ahead of Earnings Report The PepsiCo stock chart indicates: → Yesterday, the price dropped below $161, setting a new low for 2024. → However, by the end of the trading day, the price rose above $163.3, closing near the day's high. This bullish intraday behaviour might suggest positive sentiment emerging ahead of today's earnings report. According to Dow Jones Newswires: → PepsiCo's management anticipates organic revenue growth of 4% and an 8% increase in earnings per share in 2024. → The consensus among analysts tracked by FactSet is a 3% rise in sales and a 7% increase in earnings. PepsiCo's stock has fallen by 9% over the past two months. Investors are concerned that demand might suffer due to rising prices from inflation and the growing popularity of weight-loss drugs, which could curb people's cravings for snacks and sugary drinks. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

GBP/USD Hits Four-Month High Following GDP Growth News day, the UK Office for National Statistics published data showing an increase in GDP. According to Forex Factory: → A month ago, GDP was at 0.0% month-on-month; → This month, analysts had forecasted growth of 0.2%; → Actual growth reached 0.4%. This news should be welcomed by the Labour Party, which has come into power with ambitious plans for economic development. On the other hand, how will the Bank of England respond? The GDP growth might provide an argument for maintaining high interest rates for a longer period to ensure that fears of a new inflationary surge do not materialise. As Bloomberg reports, markets currently assess the likelihood of a rate cut at the next Bank of England meeting on 1 August at just under 50%. Financial markets reacted with a rise in the sterling's value against other currencies. The GBP/USD rate is at its highest level since early March. Will the Growth Continue? The GBP/USD chart shows that the price is in a rally, having risen by 1.7% since the beginning of July. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Markets Awaiting US Inflation Data: What is the Probability of Trend Reversals? The major currency pairs are in a holding pattern following the release of the latest US labour market data and Jerome Powell's testimony before Congress. The Fed Chair noted that the Federal Reserve has made "significant progress" in its mission to combat inflation, but emphasized the need for "more good data" before lowering interest rates. Judging by the movements of the major currency pairs, the market appears sceptical of the Fed Chair's statements: The AUD/USD pair has refreshed the May highs of the current year and strengthened above 0.6700. The USD/CAD pair is trading near strategic support at 1.3610. The GBP/USD pair is approaching the March highs near 1.2900. As we can see, the US dollar is slowly but surely losing ground in many directions, but by the end of the week, existing trends could either slow down or change direction dramatically. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.