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In One Session, Price of Gold Rose by Approximately $60 The opening price on Friday was around 1,870, the closing price was around 1,930. The reason for the rapid growth of the XAU/USD quote is geopolitical tension. Israeli forces announced a ground operation in the Gaza Strip, which may be why before the weekend the markets were dominated by the forces of demand for gold as a defensive asset. The Chinese Foreign Ministry said Israel's actions went beyond self-defense. And the famous investor Ray Dalio expressed the opinion that the risk of global war is 50% due to the situation in the Middle East. The XAU/USD chart shows that the price of gold has reached the upper limit of the downward channel. Technically: → the price of gold may encounter resistance from the upper border; → the price may roll back from the overbought zone, which is indicated by the stochastic oscillator; → the price may be supported by the psychological level of 1,900; → support may be provided by the level of 1,885; previously the price formed reversals from it. 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&P500 Volatility: Is It 1987 All Over Again? Not Yet! Just over a week has passed since global headlines were dominated by reports on the beginning of renewed and far more serious than usual conflict in Israel and Gaza, drawing attention away from various other subjects, be they social or financial. The inundation of social media posts and news articles has become the norm, even affecting professional platforms like LinkedIn, where many are sharing personal accounts and opinions from near and far on the geopolitical situation rather than business-related content. In such critical geopolitical moments, it's almost inevitable that financial markets experience some form of impact. Last week, when European and American markets opened for trading after the conflict began, the NYSE and NASDAQ exchanges, along with the US dollar, experienced significant value gains. This surge can be attributed to the presence of military companies listed on American exchanges, which garnered investor confidence in anticipation of heightened demand. However, as the conflict rages on with no sign of peace and escalating tensions, the S&P 500 index has seen a dip. 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 Restarts Decrease, EUR/GBP Aims Higher GBP/USD started a fresh decline from the 1.2335 resistance zone. EUR/GBP is rising and might climb above the 0.8665 resistance. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is again declining and trading below the 1.2200 support. There was a break below a key bullish trend line with support near 1.2220 on the hourly chart of GBP/USD at FXOpen. EUR/GBP is rising and trading above the 0.8650 zone. There was a break above a major bearish trend line with resistance near 0.8635 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair attempted a fresh increase above 1.2200. However, the British Pound failed above 1.2320 and started a fresh decline against the US Dollar. There was a clear move below 1.2250 and the 50-hour simple moving average. The bears pushed the pair below a key bullish trend line with support near 1.2220. It opened the doors for a move toward the 1.2120 level. A low is formed near 1.2122 and the pair is now consolidating losses. On the upside, the GBP/USD chart indicates that the pair is facing resistance near the 23.6% Fib retracement level of the downward move from the 1.2337 swing high to the 1.2122 low at 1.2175. The next major resistance is near the 50-hour simple moving average at 1.2200. The main resistance could be the 50% Fib retracement level of the downward move from the 1.2337 swing high to the 1.2122 low at 1.2220. A close above the 1.2220 resistance zone could open the doors for a move toward 1.2335. Any more gains might send GBP/USD toward 1.2450. On the downside, there is a key support forming near 1.2120. If there is a downside break below the 1.2120 support, the pair could accelerate lower. The next major support is near the 1.2040 zone, below which the pair could test 1.2020. Any more losses could lead the pair toward the 1.2000 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.

Watch FXOpen's 9 - 13 October Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: OIL & ISRAEL-GAZA CONFLICT , S&P 500 POSITIVE, GOLD RISEN. 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. Geopolitical Tensions Rattle Markets: US Stocks Decline, Oil Surges Amid Israel-Gaza Conflict #Oil E-mini S&P 500 Positive Ahead of Earnings Season #eminiS&P500 #earningsseason Markets awaiting US inflation data #USinflation The price of gold has risen more than 5% since last Friday #Gold 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

EURUSD Analysis: New Test for Support Level of 1.0500 Yesterday, another indicator of inflation in the United States was published — the CPI (Consumer Price Index). Like the PPI (Producer Price Index), the values of which were published on Wednesday, the CPI index indicated that inflation in the US remains stable (actual = 3.7%, forecast = 3.6%, a month earlier = 3.7%, two months earlier = 3.2%), however, this time, the reaction of market participants was sharper: → the stock market declined; → gold fell in price (although buyers in the Asian session on Friday contributed to the recovery); → the dollar index rose sharply. Before the publication of news about inflation, the probability of a rate hike at the December Fed meeting was at 28%, but now it is 40%. The thesis “higher rates for a longer time” has returned to relevance. For a technical analyst, changes in sentiment and spikes in volatility provide a new piece of valuable information. Let's take the EUR/USD chart for example. 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.

The Probability of Oil Prices Rising to $100 Is Increasing This week, Saudi energy minister Prince Abdulaziz bin Salman visited Moscow to discuss plans for oil production in the context of the Israeli-Palestinian conflict. The Russian president announced that Saudi Arabia and Russia's production cuts are "likely" to continue. Meanwhile, Magid Shenouda, deputy chief executive of commodities trading giant Mercuria, told the industry conference in the UAE that oil prices could reach USD 100 a barrel if the situation in the Middle East worsens. 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.

Gold Price Surges While Crude Oil Price Dips Amid Israel-Hamas War Gold price surged above the $1,848 resistance after the Israel-Hamas war escalated. Crude oil price saw swing moves and is now trading below the $83.70 resistance. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a steady increase from the $1,810 zone against the US Dollar. A key rising channel is forming with support near $1,868 on the hourly chart of gold at FXOpen. Crude oil prices failed to clear the $86.00 region and corrected gains. There is a connecting bearish trend line forming with resistance near $83.00 on the hourly chart of XTI/USD at FXOpen. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price found support near the $1,810 zone. The price started a steady increase after the Israel-Hamas war. There was a decent move above the 50-hour simple moving average. The bulls pushed the price above the $1,848 and $1,868 resistance levels. Finally, the price tested the $1,885 zone before the bears appeared. 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: The Rate Is Near October Highs In early October, the GBP/USD decline exceeded 10% from its summer high, which was very worrying. However, the weakening of the US dollar and changes in sentiment in the US government bond market allowed the pound to strengthen. Important news about UK GDP was published this morning: → The Office for National Statistics estimates that real gross domestic product (GDP) rose 0.2% in August 2023, after falling 0.6% in July 2023; → production of services grew by 0.4% in August 2023 and became the main driver of GDP growth; → the construction sector performed worse than others, falling 0.5% in August 2023 after falling 0.4% in July 2023. In general, although the UK GDP picture gives reason for some optimism, the GBP/USD rate today reacted with a decline to the publication of this news. Perhaps influencing factors that are noticeable to technical analysis are coming into play? 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.

The Price of Gold Rises More Than 5% Since Last Friday The rise in the price of the (considered a safe haven) asset was driven by: → escalation of geopolitical conflicts; → increasing US government debt and rising bond prices make gold a more attractive option for a defensive portfolio. Also, according to Business Insider, global central banks are buying gold in an effort to diversify reserves away from the dollar. 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.

Markets Awaiting US Inflation Data Yesterday, the major currency pairs were trading in fairly narrow ranges. Positive data on the US producer price index for September and the publication of the latest Fed minutes did not contribute to increased volatility in the market. Most likely, investors are expecting today's inflation data in the US. If the indicator is at the forecast level or even lower, this could lead to a change in the Fed's monetary policy, which in turn could contribute to the start of a medium-term downward impulse for the US dollar. Conversely, high inflation could force officials to keep rates high for a long time, which could trigger a new wave of greenback growth. USD/CAD After a sharp decline last week, the USD/CAD pair found strong support in the 1.3600-1.3570 range. At these marks, there are alligator lines on the daily timeframe. Price behaviour at a given location can provide more clues as to the future direction of the pair. A sharp rebound from current levels could return the price back to 1.3700-1.3780. But a move below 1.3520 may contribute to a renewed decline in the direction of lower fractals at 1.3415 and 1.3370. In addition to inflation data, today at 15:30 GMT+3, it is worth paying attention to the weekly data on applications for unemployment benefits in the United States. Also, at 18:00 GMT+3, weekly data on crude oil inventories will be released. 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.

E-mini S&P 500 Positive Ahead of Earnings Season As we wrote in our October 8 market analysis, the S&P 500 chart made bullish arguments, including: → the S&P 500 price has reached the lower boundary of the ascending channel (shown in blue); → RSI fell to its minimum in 12 months. Technically, these factors were justified, because today, the S&P 500 has strengthened, the price is near the psychological level of 4,400. Yesterday’s news also contributed to this: → inflation suddenly accelerated. The Producer Price Index (PPI) was 0.5%, although 0.3% was expected. The acceleration of inflation was influenced by the September peak in the oil market. But with the price of oil already back more than 10% from its peak, traders are not expected to be too worried about the PPI rise; → a "majority" of Fed officials thought another rate hike would "likely be appropriate" to help cool demand and bring inflation closer to its 2% inflation target over the next two years, while "some" said “no". “Participants generally noted that it was important to balance the risk of overtightening against the risk of insufficient tightening,” the minutes said. 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.

The Dollar Continues to Correct in Anticipation of the FOMC Minutes Publication In the middle of this week, the main currency pairs continued their upward correction against the US dollar. Buyers of the EUR/USD pair managed to pass the level of 1.0600, the GBP/USD currency pair tested the important level of 1.2300, and sellers of USD/JPY yesterday tried to break through the support level at 148.00. However, the current market situation may change at any time, as very important macroeconomic data is expected to be published in the coming trading sessions. USD/JPY The USD/JPY currency pair is trading in a narrow sideways range between 148.20 and 149.50. Investors are wary of currency interventions by the Bank of Japan, which may become relevant if the price passes the level of 150.00. However, sellers are in no hurry to enter into transactions since the Fed most likely does not plan to change monetary policy in the coming months. The large gap between yen and dollar interest rates makes this pair very attractive to buy and prevents it from falling below 148.00-147.00. Any hints of a change in monetary policy by the American regulator or disappointment in the fundamental indicators of the dollar could cause a sharp decline in the pair. Today at 15:30 GMT+3, the publication of data on producer prices (PPI) in the United States for September is expected. At 21:00 GMT+3, the minutes of the last Fed meeting will be published. Alsoб early the next morning, it is worth paying attention to the speech of a member of the board of directors of the Bank of Japan, Asahi Noguchi. 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.

Bank of England Expresses Concern Over Overvalued US Tech Stocks Amid Macro-Economic Uncertainty The Bank of England has voiced concerns over the soaring valuations of US technology stocks, citing the current macroeconomic landscape and the surge in interest rates. This commentary underscores the evolving dynamics in global financial markets. The UK stock market stands in stark contrast to its tech-focused counterpart in the United States, particularly the NASDAQ. The London Stock Exchange is home to well-established blue-chip firms with traditional corporate foundations. These companies span industries such as retail, pharmaceuticals, energy, leisure, and heavy industry. In contrast, NASDAQ boasts tech giants from Silicon Valley, including titans like Apple and Google, as well as recent entrants through Special Purpose Acquisition Companies (SPACs), with valuations soaring into the billions. 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.

NZD/USD Analysis: The Rate Reaches a 2-month High This morning, as the NZD/USD chart shows, one USD was worth 0.605 New Zealand dollar, for the first time since August 10. The strengthening of NZD was facilitated by: → rumours that China is planning a major stimulus package to boost the economy amid the real estate crisis. And the Australian and New Zealand dollars, as one can see, are showing growth against the backdrop of positive news from China; → the weakness of the US dollar due to the fact that Fed members make it clear in their statements that it is no longer worth raising rates further. 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 Attempts Recovery While USD/CHF Revisits Support EUR/USD started a recovery wave above the 1.0550 resistance. USD/CHF declined and now trading near the 1.0450 support zone. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro gained pace after it broke the 1.0550 resistance against the US Dollar. There is a major bullish trend line forming with support near 1.0570 on the hourly chart of EUR/USD at FXOpen. USD/CHF declined below the 0.9140 and 0.9080 support levels. There is a connecting bearish trend line forming with resistance near 0.9080 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair started a recovery wave from the 1.0450 level. The Euro even cleared the 1.0485 barrier to move into a short-term bullish zone against the US Dollar. The bulls pushed the pair above the 50-hour simple moving average and 1.0570. Finally, the pair tested the 1.0615 resistance. It is now consolidating gains above the 23.6% Fib retracement level of the upward wave from the 1.0519 swing low to the 1.0619 high. Immediate support on the downside is 1.0595. The next major support is near a bullish trend line at 1.0570 and the 50-hour simple moving average. The trend line is close to the 50% Fib retracement level of the upward wave from the 1.0519 swing low to the 1.0619 high. A downside break below the 1.0570 support could send the pair toward the 1.0485 level. Immediate resistance on the EUR/USD chart is near the 1.0615 zone. The first major resistance is near the 1.0650 level. An upside break above the 1.0650 level might send the pair toward the 1.0700 resistance. The next major resistance is near the 1.0720 level. Any more gains might open the doors for a move toward the 1.0800 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.

Overview of FXOpen's Best-performing PAMM Accounts of September 2023 The full autumn season has arrived, but, despite the cold weather, one still needs to be careful when selecting PAMM providers for one's investment portfolio. The storm in the currency and commodity markets, the politically unstable situation in some countries significantly affect trade. That is why all markets are characterized by increased activity. This review of PAMM accounts of providers that performed well in September will help investors make their choice. As of October 1, 2023, FXOpen invested capital in PAMM accounts in the amount of $1,379,911.00, according to investflow monitoring statistics. 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.

PAMM Important Updates Hi there, We want to announce enhancements to our PAMM rating system and account management policies. These updates are designed to foster a more transparent and dependable investment atmosphere for our valued community. • Modification to PAMM Rating Eligibility: Effective immediately, PAMM accounts possessing a capital of 5000 USD and above will be considered for our rating system. This capital can be either exclusively from the Master or a combination of both Master and Follower funds. Our aim with this change is to elevate the prestige of our rating system while ensuring that only adequately capitalized accounts are featured. • Updated Master's Capital Requirement for PAMM Account Creation: In our pursuit to strike the right balance between inclusivity and a sturdy trading framework, we've adjusted the Master's Capital prerequisites. The capital required to open both STP and Crypto PAMM accounts now aligns with ECN, set at 1000 USD. This revision is also geared towards enhancing the stature of our PAMM-traders community. • Enhanced Transparency in PAMM Account Naming: To further our commitment to transparency and integrity, PAMM managers will, from now on, not have the autonomy to name their PAMM account upon its creation. All accounts will prominently feature the manager's first and last name. Should a manager prefer discretion, they can opt for a Private Status. This will consequently exclude their account from the rating. We believe these changes will significantly benefit our community. As always, your trust and participation are highly valued. Thank you for being a part of our journey towards excellence. Best Regards, Siarhei Shyrko

Major Currency Pairs Correct after Sharp Declines The fairly positive US jobs report released last Friday ultimately led to a corrective pullback in almost all currency pairs. The US dollar fell against the yen, commodity currencies, the pound, and the euro. However, not all pairs managed to overcome the key ranges; the size of the corrective pullback and the possibility of a reversal will depend on the incoming fundamental events of the coming trading sessions. USD/CAD In the US dollar/loonie pair, we are seeing the bearish tweezer pattern, formed on October 5, working out. The combination was confirmed the next day with a long black candle. The nearest range where the price can fall is from 1.3540 to 1.3500. Cancellation of the downward scenario may occur after a confident consolidation above 1.3700. Several FOMC members are scheduled to speak today, in particular Neel Kashkari and Christopher Waller. Comments from these officials could have a significant impact on the pair's pricing. 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.

BOE Concentrates on Persistent Inflation Whilst US Stocks Fly Bank of England policy committee member Catherine Mann emphasised the need for a more aggressive central bank response to prolonged inflation exceeding target levels. She highlighted the importance of addressing not only the current high inflation but also the risk of inflation expectations rising in the future. Ms. Mann's call for a proactive approach to inflation management came after her preference for a rate increase at the BOE's last meeting, while her colleagues voted to maintain the status quo. According to Ms. Mann, "Policy has to be more aggressive because it has to address both a drift in expectations as well as the actual inflation." She expressed concern about the persistence and duration of elevated inflation, underscoring the importance of managing embedded inflation expectations. The British pound is moving upward against the US dollar for the sixth day. 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 Price Cannot Stay above $28k The first day of October coincided with the first attempt of the bulls to overcome the resistance level of USD 28,000 per coin, but on the 2nd of October, the sellers showed their presence. Since that time, the price has repeatedly exceeded the level of 28k, but each time not for long, after which a decline followed. Yesterday, there was another such decline. As the BTC/USD chart shows today, the rate is around 27,600. And it seems that the bulls may no longer have the strength to make a new attempt. Analyzing the bitcoin market on September 8, we pointed out a list of bearish arguments that give reason to doubt the positive prospects for bitcoin. The described price action of about 28k is another bearish argument in this list. 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.

Natural Gas Price Reaches 8-month High As the chart shows, yesterday, the price of gas rose above USD 3.60 for the first time since January of this year. It can be assumed that events in Israel contributed to the price increase, since the Middle East is an important supplier of gas. However, note that the bullish momentum started much earlier — gas prices have risen approximately 20% since the October 3 low. This confirms our assumptions about the bullish trend, which we published in the review on August 25th. Perhaps the price of gas is influenced by seasonal factors and fears that weather conditions in the coming winter will be difficult. 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.

Economic Calendar: Markets Digest Events Happening in Israel It's a busy start to the week as markets digest the events happening in Israel. Last week, WTI fell 10% to below $81 but gapped higher on this week's open, as wars in the Middle East add a risk premium to the price. With the OPEC report on Thursday, it looks set to be another volatile week in the oil markets. 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 Starts Recovery While USD/CAD Corrects Lower GBP/USD started a recovery wave from the 1.2040 zone. USD/CAD is correcting gains and trading below the 1.3700 support. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound is eyeing a fresh increase above the 1.2270 resistance. There is a connecting bullish trend line forming with support near 1.2180 on the hourly chart of GBP/USD at FXOpen. USD/CAD rallied toward the 1.3800 level before it started a downside correction. A declining channel is forming with resistance near 1.3700 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair accelerated lower below the 1.2200 zone. The British Pound even traded below the 1.2120 support against the US Dollar, as discussed in the previous analysis. Finally, the bulls appeared near the 1.2040 zone. The pair is now attempting a recovery wave above the 50-hour simple moving average and 1.2120. There was a spike toward the 1.2270 resistance. A high has formed near 1.2261 and the pair is now consolidating gains. 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.

Geopolitical Tensions Rattle Markets: US Stocks Decline, Oil Surges Amid Israel-Gaza Conflict The global financial landscape found itself in a state of flux as the military conflict between Israel and the Gaza Strip roiled markets. US stock futures faced downward pressure, while oil and Treasury values surged. Additionally, the September US jobs report added to the intensity, setting the stage for crucial inflation figures later in the week. Despite thin trading conditions due to holidays in Japan and South Korea, the initial market sentiment favoured bonds and safe-haven assets like the Japanese yen and gold. Simultaneously, oil prices experienced a notable climb, surging by over $3 per barrel. The Israeli shekel bore the initial brunt of the turmoil, plummeting to its lowest level since early 2015, standing at 3.9880 per dollar. While this may not immediately appear significant to traders due to the shekel's limited status as a major currency and unavailability on most platforms, it is intertwined with the potential performance of tech stocks listed on US exchanges, notably NASDAQ. 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.

Israel Under Attack, Oil Prices Rise Sharply On Friday, trading in WTI oil futures on the NYMEX closed at USD 82.81 per barrel. And on Monday morning, they opened at a price of USD 85.25 and began to quickly rise in price, reaching 87.24. Natural gas prices have also risen sharply. The reason is Saturday's attack on Israel. And, of course, associations arise with the oil crisis of 1973, when Arab oil-producing countries refused to supply raw materials to the United States and other allies that supported Israel. Then the price of a barrel rose from USD 3 to 12 in six months. 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.