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EUR/USD Struggles While USD/CHF Turns Red EUR/USD started a fresh decline below the 1.0625 support. USD/CHF is also declining and struggling below the 0.9000 region. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro struggled to clear the 1.0685 resistance and declined against the US Dollar. There is a key bullish trend line forming with support near 1.0585 on the hourly chart of EUR/USD at FXOpen. USD/CHF is gaining pace below the 0.8975 support zone. There is a major bearish trend line forming with resistance near 0.8940 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair attempted a recovery wave above the 1.0640 zone, as mentioned in the previous analysis. The Euro climbed above 1.0660 but struggled near 1.0685 against the US Dollar. The pair started a fresh decline below the 50-hour simple moving average and 1.0625. The bears were able to push the pair toward the 1.0585 pivot level. The pair traded as low as 1.0583 and is currently showing a lot of bearish signs. Immediate resistance on the upside is near the 23.6% Fib retracement level of the downward move from the 1.0687 swing high to the 1.0583 low. The first major resistance is near the 50-hour simple moving average at 1.0625. An upside break above the 1.0625 level might send the pair toward the 76.4% Fib retracement level of the downward move from the 1.0687 swing high to the 1.0583 low at 1.0660. Any more gains might open the doors for a move toward the 1.0685 level. On the downside, immediate support on the EUR/USD chart is seen near a key bullish trend line at 1.0585. The next major support is near the 1.0530 level. A downside break below the 1.0530 support could send the pair toward the 1.0500 level. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

FTSE 100 Opens Lower as Barclays' Mixed Results Weigh on Banking Sector London's FTSE 100 index commenced the trading day on a weaker note, driven by a downturn in the banking sector following Barclays' release of mixed financial results. At 8:15 AM, the FTSE 100 dipped by 3.78 points to 7,371.05, while its counterpart, the FTSE 250, displayed resilience with a gain of 28.03 points, equivalent to a 0.2% increase, closing the session at 17,087.02. The days of the FTSE 100 surpassing the 8,000-point threshold, which had until a few months ago never been reached, seem to be receding into the past. Barclays, a high street lender, posted third-quarter profits that surpassed expectations. However, the bank simultaneously announced a downward revision of its UK net interest margin guidance and signalled an anticipated charge in the fourth quarter related to restructuring efforts. Analysts have characterised this earnings period as less robust, primarily due to an impairment charge that exceeded forecasts. The downgrade in net interest margin guidance, attributed to shifts in deposit pricing and composition, raises concerns about potential negative ramifications in other sectors. Despite these challenges, the persistently high interest rates continue to provide a favourable tailwind, effectively offsetting the adverse impact of a subdued mortgage market and changes in deposit levels. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Eurostoxx 50 at Important Support. Production in Europe is Declining As data released this morning showed: → Purchasing Managers' Index (PMI) in France: actual = 42.6, expected = 44.4, a month ago = 43.6. Thus, the index dropped to its lowest level since the panic associated with the spread of coronavirus. → PMI in Germany: actual = 40.7, expected = 40.1, a month ago = 39.8. Since the values of the PMI index (considered a leading indicator of the state of the economy, calculated by S&P Global) are significantly below 50, this indicates a contraction of the economy in the 2 most important countries of Europe in the context of high interest rates. It is not surprising that the European stock index Eurostoxx 50 shows bearish dynamics: the price is below the SMA (100), which is directed downwards. The publication of PMI values added negativity. Will the bearish trend continue? VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Cryptocurrency Market Capitalization Sets Year's High Amid the frenzy over expectations that the SEC will approve applications for spot bitcoin ETFs, the cryptocurrency market capitalization reached USD 1.25 trillion this morning, for the first time in 2023. Expectations have increased following reports that the US Securities and Exchange Commission will not appeal a court ruling that the rejection of Grayscale Investments' ETF application was improper. It is important to understand that an ETF is a financial instrument that will allow a wide range of people to easily officially invest in bitcoin without opening an account on a crypto exchange, which can be associated with difficulties and dangers. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Bitcoin Breaks Psychological Level of $30k On Friday-Sunday, the price of BTC/USD several times exceeded the round level of 30,000, but the excess was short-lived; soon, the price rolled back down. But the pressure of the bulls did not weaken, and since the beginning of Monday, the price of bitcoin rose above 37,000. A combination of bullish factors contributed to the rise in bitcoin prices: → the threat of a financial crisis in the USA. Congress without a speaker, the budget has not been approved, the S&P-500 is near its 5-month low. Legendary investor Peter Schiff expresses the opinion that a crisis is inevitable due to the actions of the Fed. → Expectations that the SEC will approve a bitcoin ETF in the near future, and this will open bitcoin to institutional investors. According to JPMorgan, this will happen within a few months. Positive signals will come from BlackRock and VanEck, which have filed bids. → Refusal by the SEC to claim against Ripple Labs. → Geopolitical tensions in the Middle East. Bitcoin is gaining relevance as an asset that can become a safe haven for capital. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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 Attempts Recovery, USD/CAD Grinds Higher GBP/USD is attempting a recovery wave from 1.2090. USD/CAD is rising and might aim for a move above the 1.3720 resistance zone. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound is struggling to gain pace for a move above the 1.2200 region. There is a key bearish trend line forming with resistance near 1.2170 on the hourly chart of GBP/USD at FXOpen. USD/CAD is showing positive signs above the 1.3670 support zone. There is a bullish flag pattern forming with resistance near 1.3720 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2200 zone. The British Pound traded below the 1.2140 support to move into further a bearish zone against the US Dollar, as mentioned in the previous analysis. The pair even traded below 1.2115 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2090 level. A low was formed near 1.2093 and the pair is now attempting a short-term recovery wave. There was a fresh upside above the 50-hour simple moving average. The pair climbed above the 50% Fib retracement level of the downward move from the 1.2191 swing high to the 1.2093 low. Immediate resistance on the upside is near a key bearish trend line at 1.2170. It is close to the 76.4% Fib retracement level of the downward move from the 1.2191 swing high to the 1.2093 low. The first major resistance on the GBP/USD chart is near the 1.2190 level. A close above the 1.2190 resistance might spark a decent recovery wave. The next major resistance is near the 1.2220 level. Any more gains could lead the pair toward the 1.2300 resistance in the near term. Initial support sits near 1.2140. The next major support sits at 1.2115, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2020. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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 16 - 20 October Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: POUND RISES, NASDAQ SEES A DIP, NFLX PRICE SOARS 12%, OIL 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. Inflation Stabilizes, Pound Rises in Price #Inflation #GBP Volatility and Geopolitics Grip US Stocks as NASDAQ Sees a Dip #NASDAQ On Factors Influencing the Price of Oil: Biden, Israel, Venezuela #Oil NFLX price soars 12% after strong report #NFLX #Netflix #earningsreport 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. 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 #fxopenuk #fxopenint #weeklyvideo

Dollar Falls Amid Powell's Dovish Comments Federal Reserve Chairman Jerome Powell's comments at the economic forum were seen as generally dovish. The strength of the US economy and ongoing tight labour markets could justify further rate hikes, Powell said. But he also noted that the recent market rise in bond yields has helped tighten overall financial conditions significantly. The official's speech turned out to be quite cautious, and, in general, signalled more in favour of maintaining monetary policy without changes. However, answering questions, the chairman did not rule out the possibility of an additional increase in the interest rate, emphasising that the current value is not the maximum. In addition, the day before the market paid attention to a block of macroeconomic statistics from the United States. Thus, the number of initial applications for unemployment benefits for the week of October 13 decreased from 211.0k to 198.0k, while analysts expected 212.0k, and the number of repeated applications for the week of October 6 rose from 1.705 million to 1.734 million, which turned out to be significantly higher than forecasts of 1.710 million. Investors were also somewhat disappointed by sales in the secondary housing market: in September the figure decreased by 2.0% after -0.7% in the previous month, and in absolute terms the dynamics slowed down from 4.04 million to 3.96 million, while experts expected 3.89 million. The dollar index was last down 0.27% on the day at 106.24. EUR/USD The EUR/USD pair is declining slightly, consolidating near the 1.0575 mark. The day before, the pair showed active growth, having managed to update local highs from October 12, which was associated with the speech of the head of the US Federal Reserve, Jerome Powell. The euro added 0.42% to $1.0581. The immediate resistance can be seen at 1.0591, a breakout to the upside could trigger a rise towards 1.0601. On the downside, immediate support is seen at 1.0525, a break below could take the pair towards 1.0442. The focus of investors today will be on September statistics on the dynamics of manufacturing inflation in Germany: in monthly terms the index is expected to slightly accelerate from 0.3% to 0.4%, and in annual terms — a decrease of 14.2% after -12.6% in the previous month. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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/JPY Analysis: a Deceptive Calm From early January to today, the GBP/JPY rate has risen by approximately 17%, driven by the Bank of Japan's ultra-loose policy of keeping rates below zero. But since August, the upward trend began to weaken — perhaps faith in the pound was undermined by high inflation (the highest among the G7). This week: → data published on Wednesday showed that inflation in the UK has stabilized at 6.7%. In an interview with the Belfast Telegraph published on Friday, Andrew Bailey appeared calm when he said the Bank of England did not expect big changes in the data anyway; → retail sales data for September in the UK published on Friday turned out to be worse than expected: actual = -0.9%, expected = -0.3%, a month ago = +0.4% VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

S&P 500 Analysis: Threat of an Important Support Breakdown is Growing On September 19, we analysed the S&P 500 index, indicating that the market is under pressure. This was an important long term analysis, and let's see what has changed in a month with the news that happened yesterday. A month ago we marked turning points A, B, C, D on the chart. Since then, new turning points have appeared: E, F, G, H. As we indicated, in the pulse sequence A→B, B→C, C→D, D→E, each subsequent pulse was 50% shorter than the previous one. The same observation is true for the E→F movement, which is the last in a series of contracting impulses. That is, the market either compressed into a spring or formed an important balance of supply and demand. However, the F→G impulse violated this trend. This means that the market has left the state of balance in a bearish direction. At the same time, the channel expanded by 2 times (according to the principle of a parallel channel), and the market found new support G at its lower border. Further, it is important that the movement G→H amounted to 50% of the decline, which corresponds to a bullish corrective movement within the framework of the dominant downward trend (as you understand, the trend began when the market came out of balance). VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

AUD/USD and NZD/USD Signal More Downsides AUD/USD declined below the 0.6355 and 0.6330 support levels. NZD/USD is also moving lower and might trade below the 0.5800 zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a fresh decline from well above the 0.6355 level against the US Dollar. There is a key bearish trend line forming with resistance near 0.6330 on the hourly chart of AUD/USD at FXOpen. NZD/USD declined steadily from the 0.5930 resistance zone. There is a connecting bearish trend line forming with resistance near 0.5840 on the hourly chart of NZD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair struggled to clear the 0.6400 zone. The Aussie Dollar started a fresh decline below the 0.6355 support against the US Dollar. The pair even settled below 0.6330 and the 50-hour simple moving average. A low was formed near 0.6295 before there was an upside correction. The pair climbed above the 50% Fib retracement level of the downward move from the 0.6393 swing high to the 0.6295 low. However, the bears were active near the 0.6355 resistance zone. It failed to clear the 61.8% Fib retracement level of the downward move from the 0.6393 swing high to the 0.6295 low. There is also a key bearish trend line forming with resistance near 0.6330. On the downside, initial support is near the 0.6295 low. The next support sits at 0.6285. If there is a downside break below 0.6285, the pair could extend its decline. The next support could be 0.6250. Any more losses might send the pair toward the 0.6220 support. On the upside, an immediate resistance is near the trend line at 0.6330. The next major resistance is near 0.6355, above which the price could rise toward 0.6400. Any more gains might send the pair toward 0.6420. A close above the 0.6420 level could start another steady increase in the near term. The next major resistance on the AUD/USD chart could be 0.6500. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Consolidation of Major Currency Pairs Continues The US dollar has resumed growth in almost all directions, but key levels have not yet been broken. Thus, the AUD/USD currency pair is approaching October lows just below 0.6300, the pound/US dollar has retested 1.2100, and the US dollar/yen is consolidating near 150.00. USD/JPY A possible Fed rate hike due to rising inflation, as well as good data on the core retail sales index and industrial production in the US, published at the beginning of the week, keep the pair from developing a full-fledged downward correction. At the same time, as we see, incoming data is not yet enough to consolidate above 150.00. Most likely, buyers need an additional news background to resume impulse growth. If the foundation of the next trading sessions is positive for the American currency, a renewal of the recent high at 150.20 and a resumption of growth in the direction of last year’s extremes at 151.80m may occur. We could consider cancelling the upward scenario if the pair falls below 147.80. Today's speech by Fed Chairman Jerome Powell will be important for the pair's pricing. Tomorrow morning, you should pay attention to the publication of data on the national core consumer price index (CPI) in Japan. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Unlock New Trading Opportunities with 1:1000 Leverage FXOpen is delighted to announce that we are increasing the leverage from 1:500 to 1:1000 when trading forex or metal CFDs on the TickTrader trading platform. The increased leverage will allow you to enjoy the following benefits: Enhanced trading flexibility: With leverage of up to 1:1000, you will have increased flexibility in managing your positions. This means you can trade larger volumes with the same amount of capital, allowing you to diversify your portfolio and explore new trading opportunities.Reduced margin requirements: Higher leverage means lower margin requirements. This can help optimise the utilisation of funds, potentially freeing up funds for other trades or strategies.Risk management: While higher leverage offers greater potential for profit, it's essential to remember that it also carries higher risk. We encourage you to review your risk management strategies. At FXOpen, we are committed to providing you with the best possible trading experience, and we believe that this increase in leverage will contribute to helping you achieve your trading goals. Please note, the leverage increase is only available for clients of FXOpen International (FXOpen Markets Ltd). VIEW FULL NEWS VISIT - FXOpen Company News... #fxopen #truECN #trustbroker Disclaimer: This publication represents the News of the Companies operating under the FXOpen brand only. 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.

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TSLA Stock Price Breaks 2023 Trend According to the earnings report published yesterday: → Tesla's revenue for the 3rd quarter amounted to USD 23.35 billion, expected USD 24.18 billion; → earnings per share amounted to USD 0.66, expected USD 0.73. That is, the actual numbers turned out to be worse than forecasts. But the main negative can be considered the statements of Elon Musk, according to which: → investors' expectations from Cybertruck should be moderated; it may take from a year to 18 months for a positive effect from this product. Although the company already has about 1 million applications, the company will be able to start producing about a quarter of a million cars per year approximately in 2025; → the company is currently pausing the construction of a plant in Mexico; → the policy of high interest rates has a great impact on the activities of both the company and the global economy. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

On Factors Influencing the Price of Oil: Biden, Israel, Venezuela Pushing off the lower boundary of the ascending channel, the price of Brent oil rose by more than 8% amid fears of an escalation of conflict in the Middle East, which should pose a problem both for the US economy, which suffers from high inflation, and for President Biden personally on the eve of the elections. The situation is aggravated by the fact that oil reserves in US strategic storage facilities are near minimums since 2014. That is why: → it can be assumed that the goal of containing the rise in oil prices was one of the motives for Biden’s visit to Israel on Wednesday. It is expected that the price of oil may be affected by Biden's speech from the Oval Office, scheduled for Thursday evening 20:00 ET (or Friday night at 03:00 GMT+3); → the United States has eased sanctions against Venezuela, which has the largest oil reserves in the world. From a technical analysis perspective, a rally from the October lows (B) after a decline from the September highs (A) may confirm that important divergent drivers are battling in the market. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

NFLX Price Soars 12% after Strong Report Yesterday's closing price was 345.83, but this morning, NFLX's price rose above USD 390 per share in premarket trading. The reason is a strong report: → earnings per share = USD 3.73, expected = USD 3.49; → revenue = USD 8.54 billion, a year ago = USD 7.9 billion. → the main surprise is that the number of subscribers grew by an impressive 8.76 million in the third quarter (about 6 million were expected). The number of subscribers worldwide is approaching 250 million. Given the increase in demand for its service, Netflix has decided to raise the price of its basic plan in the US to USD 11.99 per month from USD 9.99, and raise the price of its premium subscription to USD 22.99 per month from USD 19.99. This could attract more earnings per share in the future, which is what has helped NFLX's price soar. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Major Currency Pairs Consolidating in Anticipation of Signals from the Fed In the middle of the current five-day period, the main currency pairs continue to trade in rather narrow ranges. Most likely, investors and market participants are waiting for comments from Jerome Powell on further monetary policy as inflation continues to rise in the United States. The head of the Fed will speak tomorrow at 19:00 GMT+3; his statements on the economic situation in the United States and around the world may enhance or change existing market trends. USD/CAD The USD/CAD currency pair has been trading in a narrow corridor of 100 pips between 1.3700 and 1.3600 in recent trading sessions. The rise in oil prices is strengthening the Canadian dollar, while the hawkish Fed policy is keeping the pair close to the extremes of the current year. Technically, a price move below 1.3600 could contribute to a retest of the important 1.3420-1.3400 range. If greenback buyers break the resistance at 1.3780, the price may resume growth in the direction of 1.3900-1.4000. Today at 15:30 GMT+3, we are waiting for data on the number of building permits issued in the United States for September. Weekly data on crude oil inventories will be published a little later. Also, at 19:00 GMT+3, it is worth paying attention to the speech of Christopher Waller from the Fed. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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 Analysis: Inflation Stabilises, Pound Rises in Price UK inflation data was released this morning, showing that consumer price inflation (CPI) held steady at 6.7% in September, although economists had expected 6.6%, which would mean the CPI would continue to decline from its peak of 11.1%, achieved at the end of last year. These data provide evidence to suggest that inflation has stalled. And the Bank of England will have to make another interest rate increase. Tighter monetary policy → more expensive currency. Therefore, the pound reacted to the news that inflation had not changed with short-term growth relative to other currencies. On the GBP/USD chart, a picture emerges indicating that the pound has found important support at the level of 1.215. Judge for yourself: → On September 27, the rate dropped lower very uncertainly, but rose very confidently the next day; → On October 3, the dive below the level of 1.215 was more significant, but the recovery again was not long in coming. And the bulls were able to lift the GBP/USD rate from the October 4 low by more than 2%; → Long lower shadows on the candles (the most noticeable on October 6) indicate demand strength around 1.215; → Analysis of the price movement on October 13 shows that this horizontal continues to provide support. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

EUR/USD Could Recover, USD/JPY Inches Toward 150.00 EUR/USD is slowly moving higher from the 1.0500 level. USD/JPY is rising and might soon attempt a move above the 150.00 resistance. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a decent increase above the 1.0570 pivot level. There is a key bullish trend line forming with support near 1.0570 on the hourly chart of EUR/USD at FXOpen. USD/JPY climbed higher above the 149.00 and 149.45 levels. There is a connecting bullish trend line forming with support near 149.45 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair started a fresh decline from the 1.0640 zone. The Euro declined below the 1.0595 support zone against the US Dollar. A low was formed near 1.0500 and the pair is now attempting a recovery wave. There was a break above the 50% Fib retracement level of the downward move from the 1.0639 swing high to the 1.0495 low. The pair even settled above the 1.0570 zone and the 50-hour simple moving average. There is also a key bullish trend line forming with support near 1.0570. On the upside, the pair is now facing resistance near the 61.8% Fib retracement level of the downward move from the 1.0639 swing high to the 1.0495 low at 1.0585. The next major resistance is near 1.0595. An upside break above 1.0595 could set the pace for another increase. In the stated case, the pair might rise toward 1.0640. If not, the pair might start a fresh decline. The first major support on the EUR/USD chart is near 1.0570. The next key support is at 1.0530. If there is a downside break below 1.0530, the pair could drop toward 1.0500. The next support is near 1.0480, below which the pair could start a major decline. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Pound, Yen, and Euro Test Important Supports The rise in the core consumer price index in the US, published last week, contributed to the start of a new upward impulse for the US dollar. European and commodity currencies interrupted the upward correction that began in early October and retested significant supports. Thus, the GBP/USD currency pair almost reached 1.2100, the EUR/USD pair fell below 1.0500, and USD/JPY buyers lacked a couple of dozen points to update the recent high at 150.20. However, yesterday, greenback sellers managed to seize the initiative, and the American currency had to retreat from record highs of the current year. The continuation of recent trends will depend on the incoming fundamental data of the coming trading sessions. USD/JPY The failure of USD/JPY buyers to consolidate above 150.00 may lead to another downward impulse in the direction of 148.20-147.40. Over the past three weeks, the price has tried several times to overcome the resistance at 150.20-149.80, but as we see, to no avail. On the daily timeframe, we can see the formation of a double top pattern, which will be confirmed after moving below 147.40. At the moment, the pair is trading in a rather narrow flat corridor, to exit from which, most likely, a good news driver is needed. Today at 15:30 GMT+3, we are waiting for the publication of data on the basic US retail sales index for September. Michelle Bowman, a member of the US Federal Open Market Committee (FOMC), is scheduled to speak a little later. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Bitcoin Tests Psychological Level of $30k Paradoxically, cryptocurrencies, which conceptually pursue decentralization goals, have become overly sensitive to regulatory news. Surprising news from Cointelegraph that the SEC would approve an application for a spot Bitcoin ETF from BlackRock raised the price of the coin to USD 30,000. The market’s positivity was added by the opinion of SkyBridge Capital founder Anthony Scaramucci, who believes that Bitcoin’s capitalization can with ease reach USD 15 trillion due to the actions of the Fed and global de-dollarization. On some crypto exchanges, the price of derivatives associated with the main cryptocurrency even significantly exceeded the psychological mark of USD 30k. However, Cointelegraph later deleted the post. And on Tuesday morning, the BTC/USD rate consolidated below 29k USD. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Wall Street Awaits Earnings from Tesla and Netflix According to Yahoo Finance, the third-quarter earnings season started well despite the uncertain macroeconomic environment. Already, 32 companies in the S&P 500 have reported earnings, according to Bank of America Research's equity strategy group. Moreover: → actual earnings per share exceeded Wall Street expectations by an average of 9%; → EPS increased 1% compared to the same quarter last year, which is a positive sign. This week's headliners could be reports from Tesla and Netflix, which are important components of the S&P 500 and Nasdaq indices. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.

Trading Hours Schedule for the Chung Yeung Festival Dear Traders, Due to the forthcoming Chung Yeung Festival in Hong Kong, trading hours for the Hang Seng Index will be changed on 20th, 23rd and 24th October. Please see the schedule below and consider this information as you plan your trading (all times given are GMT+3). Hong Kong 50 (#HSI): Friday, October 20: trading session closes at 22:00; Monday, October 23: trading closed; Tuesday, October 24: trading session opens at 04:15. All other financial markets will be traded as usual. Please consider this information as you plan your trading, and note that the hours above are subject to change. VIEW FULL NEWS VISIT - FXOpen Company News... Disclaimer: This publication represents the News of the Companies operating under the FXOpen brand only. 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.

Dollar Consolidates Near Record Highs In the US, the August budget report will be published today, followed by September data on retail sales and industrial production tomorrow. Experts expect a slowdown in production dynamics from 0.4% to 0.1%. Sales data could decline from 0.6% to 0.2%, while the ex-automotive figure could slow from 0.6% to 0.1%. The monthly budget report from the US Federal Reserve expects a deficit of USD 78.6 billion in August after a surplus of USD 89.0 billion the month before. Hawks do not rule out another increase in borrowing costs in November, but the main scenario at the moment seems to be maintaining a wait-and-see attitude, given the gradual decline in inflationary pressure. EUR/USD EUR/USD is showing weak growth, correcting after last week's bearish end, as a result of which the euro retreated from local lows of September 25. The pair is testing the 1.0525 mark for a breakout upward in anticipation of the emergence of new drivers on the market. The focus of investors today will be the September statistics on the consumer price index in Italy: forecasts suggest that the indicator will remain at 0.2% monthly and 5.3% annual. Also, during the day, the EU will present August data on the dynamics of the trade balance. Investors are still trying to assess the prospects for further tightening of monetary policy by European and American regulators. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. 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.