FXOpen Trader Posted June 23, 2023 Author Share Posted June 23, 2023 Stocks Are Falling on the Background of the Activity of Central Banks This week could be the worst for stock markets in 3 months after a series of interest rate hikes by central banks, writes Bloomberg. The UK and Switzerland raised the rate by 0.25%. While the US Fed has left rates unchanged for now, Jerome Powell said another rate hike or two may be needed in 2023. Higher-than-expected inflation in Japan has also fueled speculation that the BOJ may adjust its super-loose monetary policy. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 23, 2023 Author Share Posted June 23, 2023 Watch FXOpen's June 19 - 23 Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson : USD/JPY, FTSE 100 ON DECLINE, INTC SHARES UP, GBP 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. Market Analysis: INTC shares up 16% in just one week. What’s the reason? GBP Analysis: What is the next move for the pound? One-year high begs the question Market Analysis: USD/JPY at the high of the year Market Analysis: FTSE 100 on decline, reacting to news about inflation in the UK 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 #weeklyvideo Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 26, 2023 Author Share Posted June 26, 2023 The Price of Bitcoin Updates the Maximum of the Year, What's Next? After skyrocketing last week for the 3 reasons we wrote about earlier, the price of bitcoin hit a 2023 high on Friday, surpassing USD 31,400 per bitcoin. This was facilitated by the news that the SEC approved the first exchange-traded fund (ETF) of bitcoin futures with leverage. In April, the bulls were already above the psychological level of USD 30k per bitcoin, but after that a pullback followed, culminating in the price dropping below the psychological level of USD 25k per bitcoin. The BTC/USD market once again emphasized the emotionality of its participants — this is how you can interpret the tendency of the bitcoin exchange rate to the US dollar to make reversals after the breakdown of psychological levels. What will happen next? Will the price of bitcoin follow the June breakdown according to the rollback scenario that was realized after the April breakdown? The probability of this is indicated by the bearish SHS patterns (head-and-shoulders), which formed when the price of bitcoin exceeded the level of 30k. You may also have deja vu, as the 2 peaks above 30k in 2023 resemble the 2 peaks (in April and November) above 60k in 2021. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 26, 2023 Author Share Posted June 26, 2023 GBP/USD Eyes Fresh Increase, USD/CAD Could Extend Losses GBP/USD faced resistance near 1.2845 and started a downside correction. USD/CAD is struggling below 1.3210 and might decline further. Important Takeaways for GBP/USD and USD/CAD The British Pound started a downside correction below the 1.2845 zone. There is a key bearish trend line forming with resistance near 1.2740 on the hourly chart of GBP/USD at FXOpen. USD/CAD declined below the 1.3210 and 1.3185 support levels. A connecting bearish trend line is forming with resistance near 1.3185 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair was able to climb above the 1.2800 resistance zone. However, the bears were active near the 1.2845 zone. As a result, the pair started a downside correction below the 1.2780 and 1.2740 support levels. The pair even spiked below 1.2700 before the bulls appeared near 1.2690. A low is formed near 1.2684 and the pair is now consolidating losses. There was a move above the 23.6% Fib retracement level of the downward move from the 1.2841 swing high to the 1.2684 low. Immediate resistance on the GBP/USD chart is forming near the 50-hour simple moving average at 1.2732. The next resistance is near a key bearish trend line at 1.2740. An upside break above the 1.2740 zone, the pair could rise toward 1.2780. It coincides with the 61.8% Fib retracement level of the downward move from the 1.2841 swing high to the 1.2684 low. Any more gains might open the doors for a test of 1.2845. On the downside, initial support is near the 1.2720 area. The next major support is near the 1.2690 level. If there is a break below 1.2690, the pair could extend its decline. The next key support is near the 1.2640 level. Any more losses might call for a test of the 1.2580 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 27, 2023 Author Share Posted June 27, 2023 USDCAD Analysis: Low of the Year USD/CAD fell below 1.3130 this morning, a level not seen since September 2022. The strength of the Canadian dollar can be justified, among other things, by the fact that the inflation rate in Canada is lower than in the US. In April, we wrote that a false bullish break (indicated by a circle) of a triangle (shown in green) could indicate that a genuine break would occur in a bearish direction and set a downtrend in the USD/CAD market. And so it happened. Today's news on inflation in Canada (15:30 GMT+3) may significantly affect the dynamics of the current downtrend, which, if continued, has the prospect of reaching the bottom line (1) of the long-term channel. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 28, 2023 Author Share Posted June 28, 2023 EUR/USD Resumes And USD/JPY Could Extend Rally EUR/USD started a fresh increase above the 1.0890 resistance. USD/JPY is consolidating gains and might rally further above 144.20. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro is rising and trading well above the 1.0925 resistance zone. There is a key bullish trend line forming with support near 1.0940 on the hourly chart of EUR/USD at FXOpen. USD/JPY is trading in a positive zone above the 143.40 and 143.70 levels. There is a major bullish trend line forming with support near 143.70 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0845 zone. The Euro climbed above the 1.0890 resistance zone against the US Dollar. The pair even settled above the 1.0925 resistance and the 50-hour simple moving average. There was an upside break above the 50% Fib retracement level of the last key decline from the 1.1012 swing high to the 1.0844 low. Finally, the bears appeared near the 76.4% Fib retracement level of the last key decline from the 1.1012 swing high to the 1.0844 low at 1.0970. The pair is now consolidating gains below the 1.0970 resistance. The first major support is near a key bullish trend line at 1.0940. The next key support is near the 50-hour simple moving average at 1.0925. If there is a downside break below 1.0925, the pair could drop toward the 1.0910 support. The main support on the EUR/USD chart is near 1.0890, below which the pair could start a major decline. On the upside, the pair is now facing resistance near 1.0970. The next major resistance is near the 1.1010 level. An upside break above 1.1010 could set the pace for another increase. In the stated case, the pair might rise toward 1.1065. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 28, 2023 Author Share Posted June 28, 2023 GBP/JPY Analysis: Highs Since December 2015 The GBP/JPY chart shows that this currency pair is in an uptrend (nearly +17% YTD) which can be explained by differences in economies. While the UK is fighting a rate hike against inflation (which has shown double digits), Japan continues to pursue an ultra-soft monetary policy. Technically, the bulls still have a chance to reach the upper boundary of the channel (shown in blue), where the psychological resistance level of 190 yen per pound passes, but the situation may change: → First, the Japanese authorities are concerned. “We closely monitor the movement of the currency. We will respond appropriately if it becomes excessive,” Vice Finance Minister and Chief Currency Strategist Masato Kanda said today. Recall that the Bank of Japan has already taken interventions in the foreign exchange market to support the yen in September and October last year — and this has yielded results. → Secondly, the bullish momentum for the pound may weaken. Bank of America analysts' forecast for the pound is one of the most pessimistic among the G10. In their opinion, the fight against inflation in the UK will be the strongest, and the risk of a hard landing has increased. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 29, 2023 Author Share Posted June 29, 2023 Gold Drops to 3-Month Low Yesterday, a forum of heads of central banks was held, organized by the ECB, with speeches by Lagarde, Powell, Ueda, Bailey. In general (with the exception of Japan), according to bankers, they intend to maintain a tight monetary policy, not excluding new increases in interest rates, and plan that inflation will continue to decline. Against the background of this information, the price of gold in dollars fell — perhaps because forecasts for lower inflation, according to market participants, reduce the value of gold as a "rescue" asset. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 30, 2023 Author Share Posted June 30, 2023 AUD/USD and NZD/USD At Risk of Additional Losses Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a fresh decline from well above the 0.6750 level against the US Dollar. There is a key bearish trend line forming with resistance near 0.6630 on the hourly chart of AUD/USD at FXOpen. NZD/USD declined heavily below the 0.6125 support zone and tested 0.6050. There was a break above a major bearish trend line with resistance near 0.6070 on the hourly chart of NZD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair started a fresh decline from the 0.6720 zone. The Aussie Dollar traded below the 0.6670 support to enter a bearish zone against the US Dollar. The pair even settled below the 50-hour simple moving average at 0.6630. A low is formed near 0.6595 and the pair is now consolidating losses. It is testing the 23.6% Fib retracement level of the downward move from the 0.6750 swing high to the 0.6595 low. On the upside, the AUD/USD pair is facing resistance near a key bearish trend line at 0.6630. The next major resistance is near the 61.8% Fib retracement level of the downward move from the 0.6750 swing high to the 0.6595 low at 0.6670. A close above the 0.6670 level could start another steady increase in the near term. The next major resistance on the AUD/USD chart could be 0.6750. On the downside, initial support is near the 0.6595 level. The next support could be the 0.6550 level. If there is a downside break below the 0.6550 support, the pair could extend its decline toward the 0.6500 level. Any more losses might send the pair toward the 0.6440 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 30, 2023 Author Share Posted June 30, 2023 EURUSD Analysis: Double Bearish Pattern The EUR/USD chart indicates an interesting situation from the point of view of technical analysis, namely, a “nested” head-and-shoulders pattern. The global bearish SHS pattern is formed by the peaks of February, April, June. The local bearish SHS pattern is formed by three peaks formed in the second half of June. This should give confidence to the bears, who have statistics that indicate the effectiveness of the pattern. Please note that inflation data will be published today: → 12:00 GMT+3: Core CPI Flash Estimate. → 12:00 GMT+3: US Core CPE is an indicator that the Fed pays special attention to. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 1, 2023 Author Share Posted July 1, 2023 Watch FXOpen's June 26 - 30 Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: GBP/EUR, AAPL ALL-TIME HIGH, GOLD DROP 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. Market Analysis: Yield curve and stock market downside risks. Alarming signals? GBP/EUR Analysis: GBP makes a sudden dip against EUR. Is a recession finally looming, or is it just a blip? Market Analysis: AAPL share price hits all-time high. Will we see the company's capitalization reach USD 3 trillion? Market Analysis: What made gold drop to 3-month low? 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 #weeklyvideo Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 3, 2023 Author Share Posted July 3, 2023 GBP/USD Resumes Increase While EUR/GBP Faces Hurdle GBP/USD jumped above the 1.2650 and 1.2690 resistance levels. EUR/GBP declined and now trading below the 0.8595 resistance. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is trading in a bullish zone above 1.2650 against the US Dollar. There was a break above a key bearish trend line with resistance near 1.2650 on the hourly chart of GBP/USD at FXOpen. EUR/GBP started a fresh decline from the 0.8660 resistance zone. There is a major bearish trend line forming with resistance near 0.8595 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair started a fresh increase from the 1.2600 support zone. The British Pound climbed above the 1.2650 resistance zone against the US Dollar. The bulls were able to pump the pair above 1.2690 and the 50-hour simple moving average. The pair settled above the 61.8% Fib retracement level of the downward move from the 1.2759 swing high to the 1.2591 low. Finally, the pair climbed above 1.2700 but struggled to clear the 1.2720 resistance zone. The pair is now consolidating above 1.2690. The GBP/USD chart indicates that the pair is facing resistance near the 76.4% Fib retracement level of the downward move from the 1.2759 swing high to the 1.2591 low at 1.2720. The next major resistance is near the 1.2745 level. If the RSI moves above 70 and the pair climbs above 1.2745, there could be another rally. In the stated case, the pair could rise toward the 1.2800 level or even 1.2840. On the downside, there is a major support forming near the 50-hour simple moving average at 1.2650. If there is a downside break below the 1.2650 support, the pair could accelerate lower. The next major support is near the 1.2600 zone, below which the pair could test 1.2550. Any more losses could lead the pair toward the 1.2500 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 4, 2023 Author Share Posted July 4, 2023 What Events Will Affect Your Trading This Week? Despite a quiet start to the week for the US holidays, there is still plenty going on. The Reserve Bank of Australia unexpectedly kept interest rates at 4.1%, sending the Aussie dollar lower before flying back like a boomerang to where it was trading, at 0.6680 against the USD. On Wednesday (21:00), we get to see the minutes of the FOMC's last meeting, where they held rates at 5.25%. However, the market is pricing in at least two more rate hikes by the end of the year, so traders will be looking for clues in the minutes as to if and when this might happen. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 5, 2023 Author Share Posted July 5, 2023 EUR/USD Drops Again While USD/CHF Gains Strength EUR/USD started a fresh decline from the 1.0930 resistance. USD/CHF is rising and might aim a move toward the 0.9015 resistance. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro struggled to clear the 1.0930 resistance against the US Dollar. There is a major bearish trend line forming with resistance near 1.0890 on the hourly chart of EUR/USD at FXOpen. USD/CHF is gaining pace above the 0.8965 resistance zone. There is a key bearish trend line forming with resistance near 0.8980 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair struggled many times near the 1.0930 resistance. The Euro started a fresh decline from the 1.0931 swing high against the US Dollar. There was a move below the 50-hour simple moving average at 1.0890. The bears were able to push the pair below the 50% Fib retracement level of the upward move from the 1.0835 swing low to the 1.0931 high. It seems like the pair might continue to move down considering the RSI is below 35. On the downside, immediate support on the EUR/USD chartis seen near 1.0845. It is close to the 76.4% Fib retracement level of the upward move from the 1.0835 swing low to the 1.0931 high. The next major support is near the 1.0835 level. A downside break below the 1.0835 support could send the pair toward the 1.0780 level. Immediate resistance on the upside is near the 50-hour simple moving average at 1.0890. It is close to a major bearish trend line. The first major resistance is near 1.0920. The next key resistance is near the 1.0930 level. An upside break above the 1.0930 level might send the pair toward the 1.0970 resistance. Any more gains might open the doors for a move toward the 1.1010 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 5, 2023 Author Share Posted July 5, 2023 USDJPY Analysis: Calm Before the Storm? There is some lull (consolidation) in the USD/JPY market, which is evidenced by the width of the Bollinger bands, which dropped to the lows of the end of February on the 4-hour chart. Bank holidays in the US in connection with the celebration of Independence Day contributed to the decrease in volatility. However, the calm could be replaced by a storm. The USD/JPY chart shows that the bulls have tested the level of 144 and on the morning of July 5, the rate is gradually rising towards the level of 145 — technically this can be interpreted as a demand force for dollars. Reuters reports the words of Shusuke Yamada, chief forex strategist at Bank of China, who believes that the market expects further weakening of the yen in the medium term. And this is important, because last fall, the level of 145 yen per US dollar was the trigger for intervention by the Bank of 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 6, 2023 Author Share Posted July 6, 2023 FTSE 100 Drops Below June Low Earlier we wrote about the reasons for the weak behavior of the UK stock market. Firstly, it is the highest inflation among the G7 countries. Yesterday JP Morgan analysts suggested that the base rate in the UK could be raised to 7% under certain scenarios. And the likelihood of a hard landing for the British economy next year is rising due to the impact of rising borrowing costs on business confidence and rising unemployment. Secondly, this is a decline in commodity prices, which is important for the FTSE 100 index, where the share of oil and mining companies is relatively large. Commodity prices reflect expectations of a global economic growth outlook that has been overshadowed by news from China. There, according to the latest data, activity in the services sector in June grew at the slowest pace in 5 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 7, 2023 Author Share Posted July 7, 2023 Gold Price Struggles While Crude Oil Price Aims Higher Gold price is moving lower below the $1,918 support. Crude oil price is rising as the bulls aim for a move above the $72.20 resistance. Important Takeaways for Gold and Oil Prices Analysis Today Gold price failed to clear the $1,930 resistance and start a fresh decline against the US Dollar. A major bearish trend line is forming with resistance near $1,925 on the hourly chart of gold at FXOpen. Crude oil prices are also moving higher above the $71.50 resistance zone. There is a key bullish trend line forming with support near $70.50 on the hourly chart of XTI/USD at FXOpen. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price struggled to start a fresh increase above the $1,930 resistance. The price started a fresh decline below the $1,918 support. There was a close below the 50-hour simple moving average and $1,912. It tested the $1,910 support zone. A low is formed at $1,902.60 and the price is now consolidating losses above the 23.6% Fib retracement level of the downward move from the $1,927 swing high to the $1,902 low. The price is now facing resistance near the $1,912 level. The next major resistance is near the 50-hour simple moving average at $1,918. It is close to the 61.8% Fib retracement level of the downward move from the $1,927 swing high to the $1,902 low. The main resistance is near a bearish trend line at $1,925 and then $1,930. An upside break above the $1,930 resistance could send Gold price toward $1,938. Any more gains may perhaps set the pace for an increase toward the $1,950 level. Initial support on the downside is near the $1,902 level. The first major support is near the $1,892 level. If there is a downside break below the $1,892 support, the price might decline further. In the stated case, the price might drop toward the $1,880 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 7, 2023 Author Share Posted July 7, 2023 The Price Has Updated the High of the Year, What's Wrong With That? In an interview with Fox Business, the CEO of Black Rock fund (over $8 trillion under management), Larry Fink, made some positive comments about bitcoin. Briefly: → bitcoin can become a catalyst for the tokenization of various assets and securities, which, in turn, can lead to a revolution in the financial sector; → bitcoin has unique properties that distinguish it from traditional stores of value such as gold. For example, its international recognition. Fink also expressed the hope that the positive experience of cooperation between Black Rock and the SEC will allow the regulator to approve the launch of an ETF based on bitcoin (the application has already been submitted, but Larry did not give forecasts on the timing of its consideration). 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 8, 2023 Author Share Posted July 8, 2023 Watch FXOpen's July 3 - 7 Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: TSLA STOCK, USD/JPY, NASDAQ, FTSE 100 DROPS 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. Market Analysis: Wall Street optimistic ahead of inflation news TSLA Stock: Price Chart Analysis. The bull market continues... Market Analysis. USD/JPY: Calm before the storm? NASDAQ Analysis: Index Is at 1-year High! Is It Sustainable? Market Analysis: FTSE 100 drops below June low. What gives hope to the bulls? 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 #weeklyvideo Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 10, 2023 Author Share Posted July 10, 2023 GBP/USD Regains Strength, USD/CAD Corrects Lower GBP/USD started a strong increase and retested 1.2850. USD/CAD is correcting gains and trading below the 1.3300 support. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a steady increase above the 1.2760 resistance. There was a break above a connecting trend line with resistance near 1.2780 on the hourly chart of GBP/USD at FXOpen. USD/CAD declined below the 1.3320 and 1.3300 support levels. It traded below a key bullish trend line with support at 1.3320 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair was able to climb above the 1.2720 resistance zone. The British Pound gained strength after it broke the 50-hour simple moving average at 1.2760. During the increase, there was a break above a connecting trend line with resistance near 1.2780. It opened the doors for a move toward the 1.2850 resistance where the bears emerged. A high is formed near 1.2849 and the pair is now consolidating gains. The RSI dipped below the 60 level on the GBP/USD chart and the pair is now testing the 23.6% Fib retracement level of the upward move from the 1.2673 swing low to the 1.2849 high. Immediate resistance is forming near the 1.2850 level. The next resistance is near 1.2880. An upside break above the 1.2880 zone could send the pair toward 1.2950. Any more gains might open the doors for a test of 1.3000. On the downside, initial support is near the 1.2805 area. The next major support is near the 50% Fib retracement level of the upward move from the 1.2673 swing low to the 1.2849 high at 1.2760 and the 50-hour simple moving average. If there is a break below 1.2760, the pair could extend its decline. The next key support is near the 1.2720 level. Any more losses might call for a test of the 1.2650 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 11, 2023 Author Share Posted July 11, 2023 Weak Dollar’s Position Bloomberg writes that the big hedge funds have flipped and are now taking a short position on the dollar in the expectation that the Fed is nearing the end of its cycle of raising interest rates. It is possible that the weakness of the USD against a basket of other currencies is influenced by the announced intentions of the BRICS countries to issue a currency backed by gold. Be that as it may, however, the EUR/USD rate has risen by an impressive 1.5% since the low of July 6, reaching a maximum since May 8. At the same time, the EUR/USD chart shows that: → the price has broken the downward channel upwards (shown in red); → the bulls are so bold that they are trying to break the double SHS pattern formation. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 12, 2023 Author Share Posted July 12, 2023 Standard Chartered Predicts Bitcoin at $120k The value of the largest cryptocurrency could reach USD 50,000 this year and USD 120,000 by the end of 2024, according to analysts at Standard Chartered, Reuters reports. Note that earlier, bank analysts predicted that the cost of BTC at the end of 2024 would be USD 100,000, but now they have increased their forecast for the price of bitcoin by 20%, based on the assumption of a change in the behavior of miners that can limit the supply of bitcoins as its price rises. Time will tell how true the bitcoin price forecast for 2024 from Standard Chartered will be, but on the BTC/USD chart today there is an argument in favor of the fact that the forecast can be realized. This is the nature of price action around the USD 30k psychological level. Compare 2 periods when the price of bitcoin exceeded USD 30k. In April, the price met strong resistance only USD 500 higher, and a week after the breakdown of USD 30k, it rushed down. And now is the second period, which began on June 21 and continues to last. The level of immediate resistance above the psychological level is already higher — at around 31k, and the price of bitcoin has not fallen (except for short-term punctures) below USD 30k for almost 3 weeks. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 12, 2023 Author Share Posted July 12, 2023 EUR/USD Smashes Resistance While USD/JPY Nosedives EUR/USD started a fresh increase above the 1.0975 resistance. USD/JPY is declining and showing bearish signs below the 141.20 level. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro is rising and trading well above the 1.1020 resistance zone. There is a key bullish trend line forming with support near 1.1020 on the hourly chart of EUR/USD at FXOpen. USD/JPY is trading in a bearish zone below the 141.20 and 140.20 levels. There is a major bearish trend line forming with resistance near 140.20 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0835 zone. The Euro climbed above the 1.0900 resistance zone against the US Dollar. The pair even settled above the 1.0975 resistance and the 50-hour simple moving average. There was an upside break above the 76.4% Fib retracement level of the downside correction from the 1.1026 swing high to the 1.0977 low. The pair is now consolidating gains below the 1.1040 resistance. The first major support is near a key bullish trend line at 1.1020. The next key support is near the 50-hour simple moving average at 1.0995. If there is a downside break below 1.0995, the pair could drop toward the 1.0975 support. The main support on the EUR/USD chart is near 1.0900, below which the pair could start a major decline. On the upside, the pair is now facing resistance near the 1.236 Fib extension level of the downside correction from the 1.1026 swing high to the 1.0977 low at 1.1040. The next major resistance is near the 1.1065 level. An upside break above 1.1065 could set the pace for another increase. In the stated case, the pair might rise toward 1.1120. 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 13, 2023 Author Share Posted July 13, 2023 The Dollar Index Falls to a Minimum of the Year Yesterday, important data on inflation in the United States was published: the CPI index was 3% in annual terms, this is the lowest value since the beginning of 2021. Thus, inflation is slowing down for the 12th month in a row, approaching the target of 2%. Markets greeted the news with a surge of volatility — perhaps the quotes win back the expectations that the Fed will soften the current tightening policy (which is far from a fact). Against this background, the dollar index, calculated against a basket of other currencies, fell to a minimum of 2023 — respectively, the prices of EUR/USD and GBP/USD reached the highs of the year. Dollar-denominated stocks also rose in price (the Nasdaq 100 index updated a year's high), as did commodities (the price of oil rose to a maximum since the beginning of May, and gold rose in price by more than USD 20 in 2 hours after the news was published). 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. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted July 13, 2023 Author Share Posted July 13, 2023 Swiss Franc Strengthens to 2020 Pandemic Levels The USD/CHF rate fell below 0.87 for the first time since the spring of 2020, when financial market participants saw the Swiss franc as a “safe haven” amid panic associated with the spread of the coronavirus pandemic. Perhaps the demand for the Swiss franc in 2023 is facilitated by geopolitical factors: ongoing hostilities in Ukraine, tensions between the US and China. The immediate hope for the bulls in the USD/CHF market may be presented by: → the lower line of the long-term channel (shown in red), which, from the point of view of technical analysis, can become a support for a rebound; → new statistics (once again, will be published today at 15:30 GMT); → official statements of influential people. For example, FOMC member Christopher J. Waller is scheduled to speak late Thursday evening, his words about new Fed rate hikes will help strengthen 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. Quote Link to comment Share on other sites More sharing options...
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