Resolve Posted June 20 Author Share Posted June 20 SNB Unexpectedly Lowers Interest Rate from 1.50% to 1.25% Today, it was announced that the Swiss National Bank (SNB) decided to lower the interest rate to 1.25%. According to ForexFactory, the analyst consensus had expected the rate to remain at 1.50%, making this decision a surprise. According to SNB Chairman Thomas Jordan: → Inflation in Switzerland is decreasing; → In recent weeks, the Swiss franc has significantly strengthened due to geopolitical tensions, and the SNB is prepared to be active in the Forex market if necessary. The market's reaction to the SNB's decision and the statements from its chairman resulted in a sharp weakening of the Swiss franc. Specifically, the USD/CHF rate rose by approximately 0.7% in the first few minutes. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 21 Author Share Posted June 21 Market Analysis: Gold Price and Crude Oil Price Turn Green Gold price started a fresh increase above the $2,335 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $82.50. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a decent increase from the $2,300 zone against the US Dollar. A connecting bullish trend line is forming with support near $2,345 on the hourly chart of gold at FXOpen. Crude oil prices rallied above the $79.00 and $80.00 resistance levels. There is a key rising channel forming with support at $80.85 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 $2,300 zone. The price formed a base and started a fresh increase above the $2,320 level. There was a decent move above the 50-hour simple moving average and $2,335. The bulls pushed the price above the $2,350 resistance zone. Finally, the bears appeared near $2,365. A high was formed near $2,365.43 and the price is now consolidating gains. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 21 Author Share Posted June 21 The Price of Gold Reached a Two-Week High As shown on the XAU/USD chart, this morning the price of gold exceeded $2360 per ounce (approximately +1.5% since the start of the week). According to Reuters, the increase in the price of gold was driven by: → Rising geopolitical tensions in the Middle East. Hezbollah leader Sayyed Hassan Nasrallah warns of an "all-out war" if Israel launches a full-scale invasion against the Lebanese militia after concluding a military cooperation agreement with Cyprus, with Cyprus potentially becoming a target for Hezbollah. → Expectations of a decrease in Fed interest rates. ANZ Research analysts note that the latest US economic data has shown improved conditions for the Fed to lower rates. High rates typically reduce the attractiveness of gold bars, which do not generate income. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 21 Author Share Posted June 21 Natural Gas Price: Bullish Trend Weakens Forecasts of a hotter summer, published during April and May, led to a sustained bullish trend in the natural gas market, as this commodity is heavily used for air conditioning. Specifically: → The XNG/USD chart indicates that from 1st April to today, the price of natural gas has increased by more than 55%. → According to Bloomberg, there is a 61% chance that 2024 will be the hottest year on record, surpassing 2023. → Natural gas supplies may be unstable due to an unforeseen maintenance shutdown at the Freeport plant. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 21 Author Share Posted June 21 Watch FXOpen's 17 - 21 June Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, GBP, SNB Interest rate, Brent Crude 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. Nasdaq 100 Index Reaches 20,000 points for the First Time GBP Awaits Bank of England Verdict: Volatility Ahead? SNB Unexpectedly Lowers Interest Rate from 1.50% to 1.25% Brent Crude Oil Price Hits Highest Since 1 May Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions. FXOpen YouTube Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. #fxopen #fxopenyoutube #fxopenint #weeklyvideo Link to comment Share on other sites More sharing options...
Resolve Posted June 24 Author Share Posted June 24 S&P 500 Falls from Record High in Anticipation of Key News On Friday, at 15:30 GMT+3, the Core PCE Price Index values will be released – an economic indicator to which the Federal Reserve pays special attention when assessing inflation levels in the US. This event is likely to cause a surge of news in the financial markets, and its anticipation will influence sentiments throughout the week. On Monday morning, the S&P 500 Index (US SPX 500 mini on FXOpen) fell to 5465 points after a historical record above 5500 points was set on June 20th. The decline was contributed by Friday’s report from the National Association of Realtors, which showed a drop in existing home sales in May compared to the previous month. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 24 Author Share Posted June 24 USD/JPY Analysis: Rate Rises Above 159.9 Yen per Dollar The yen was last this weak against the US dollar in late April, leading to currency interventions as the Bank of Japan deemed a rate above the psychological mark of 160 yen per USD unacceptable. The current weakness of the yen has triggered the usual warnings from Japanese officials against "excessive" volatility, which can be interpreted as a sign of a new wave of interventions. It is noteworthy that following the intervention in late April (when the yen strengthened by 4.5% by the first days of May), it took the market less than two months to negate almost the entire effect of the Bank of Japan's actions. This indicates a strong upward trend (shown in blue), driven by the interest rate differential between Japan and the US. According to Reuters: → The 160.00 level is seen as a red line for the Japanese, considering that yen weakness increases imported inflation and pressures the Bank of Japan (BoJ) to further unwind its ultra-loose policy. → The minutes from the latest central bank meeting confirmed extensive discussions about reducing bond purchases and raising rates. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 25 Author Share Posted June 25 Dollar Declines: How Deep Could the Correction Be? By the end of last week, the American currency traded rather mixed: - The USD/JPY currency pair strengthened by more than 200 pips and almost tested the significant resistance level at 160.00. - The USD/CAD pair failed to break out of the medium-term flat corridor of 1.3740-1.3620. - Sellers of the pound in the GBP/USD pair tried to push through the support at 1.2620-1.2600 but were unsuccessful. However, despite recent successes, the upward momentum of dollar bulls began to slow down yesterday. In some directions, we observe a slowdown in the growth of the USD, and in some, reversal patterns have already formed. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 25 Author Share Posted June 25 Nasdaq 100 Index Failed to Hold Above 20,000 Points On 18th June, we reported that the Nasdaq 100 (US Tech 100 mini on FXOpen) market had recorded a historic high by surpassing the psychological level of 20,000. At that time, we pointed to the upper line of the ascending channel (shown in green), which has been in place since 19th April, as a potential resistance level. About a week has passed, and the Nasdaq 100 (US Tech 100 mini on FXOpen) chart indicates that the price failed to hold above the psychological level and turned downwards from the upper green line. One of the drivers of the decline was NVDA shares, which fell by approximately 15% over three trading sessions. Meanwhile, Bloomberg quotes Buff Dormeier, Chief Technical Analyst at Kingsview Partners, stating that Nvidia’s share price decline occurred following potentially bullish news: → a stock split, making the shares more accessible to a wider range of retail investors; → attaining the status of the company with the largest market capitalisation (a status now lost); → strong fundamental data related to the company's leadership in the AI-related industry. By some estimates, the company controls about 80% of the chip market needed for AI model development. Bearish behaviour of NVDA’s price amidst bullish news is a bearish sign. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 25 Author Share Posted June 25 USD/CAD Rate Reaches Significant Support Level On June 12, we wrote about bearish signs observed on the USD/CAD chart, pointing to the prospect of USD weakening. Since then, the USD/CAD rate has decreased by approximately 0.75% and has reached an important support level, specifically the lower boundary of the descending triangle (with the median around 1.36700), which indicates a long-term balance of supply and demand among market participants. The fact that today the USD/CAD rate is rising from yesterday's minimum on June 4 at the level of 1.36408 confirms the importance of the support formed by the lower boundary of the triangle. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 26 Author Share Posted June 26 AUD/USD Surges on Inflation News in Australia This morning, the Consumer Price Index (CPI) figures for Australia were released – according to ForexFactory, the annual CPI stood at 4.0% (expected = 3.8%, previous = 3.6%). As Bloomberg reports: → Rent was the main driver of inflation due to a housing shortage. → The spike in inflation increases the risk of an RBA rate hike (a decision might be announced on 5th August). → Following the release of the high CPI figures, the AUD/USD exchange rate surged by 0.6%. Moreover, the news from Australia could be a harbinger of a new wave of inflation that may manifest in other countries as well. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 26 Author Share Posted June 26 (edited) Market Analysis: EUR/USD Struggles To Recover While USD/CHF Rallies EUR/USD is attempting a recovery wave from the 1.0675 zone. USD/CHF climbed higher above 0.8900 and might extend gains in the near term. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro declined toward 1.0675 before it started a recovery wave against the US Dollar. There is a key bullish trend line forming with support at 1.0710 on the hourly chart of EUR/USD at FXOpen. USD/CHF climbed higher above the 0.8900 and 0.8935 resistance levels. There is a connecting bullish trend line forming with support at 0.8930 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair extended the decline below the 1.0720 support zone. The Euro even declined below 1.0700 before the bulls appeared against the US Dollar, as mentioned in the previous analysis. The pair tested the 1.0675 zone and recently started a recovery wave. There was a move above the 1.0710 resistance zone, but the bears were active near 1.0745. As a result, there was another pullback to 1.0690 and the pair is now consolidating below the 50-hour simple moving average. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Edited June 26 by Resolve Link to comment Share on other sites More sharing options...
Resolve Posted June 26 Author Share Posted June 26 The Nikkei Index Has Risen to a 2-Month High As we wrote on June 17th, analyzing the Nikkei 225 chart (Japan 225 on FXOpen): → the price formed a consolidation pattern (in the shape of a narrowing triangle); → the price formed a bullish reversal from the 38,000 points level (indicated by an arrow), suggesting potential growth and trend establishment upon pattern breakout. Since then, the price has broken out of the consolidation triangle and today exceeded the 39,800 level - marking the highest point since mid-April. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 27 Author Share Posted June 27 AMZN Shares Set a New All-Time High As shown in the AMZN chart, yesterday the share price confidently surpassed the psychological level of $190, closing above $193.41, which is a new all-time high. Specifically: → the growth was approximately +3.9% for the day, with the closing candle at the upper part (a sign of strong demand); → Amazon's market capitalisation exceeded $2 trillion. According to Benzinga, the rise in AMZN's price was driven by: → the news that BofA Securities analyst Justin Post maintained a "Buy" recommendation and raised the target price from $210 to $220, citing the potential for improved efficiency through better logistics. → the information that Amazon is preparing to launch a discount section similar to Temu, which will offer direct delivery from China. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 27 Author Share Posted June 27 European Currencies Face a Crucial Test: What to Expect The end of June and the beginning of July are packed with significant economic and political events for the pound and the euro. A few weeks ago, Emmanuel Macron dissolved the parliament and announced snap parliamentary elections. He took this step after the far-right National Rally led by Marine Le Pen secured first place in the European Parliament elections. Many experts believe that if the far-right gains a majority in the parliament, it could lead to a serious political crisis in the EU, consequently exerting bearish pressure on EUR/USD. EUR/USD According to the technical analysis of the EUR/USD pair, if the price falls below 1.0660, the pair may continue its downward trend towards 1.0600-1.0400. A resumption of the upward trend is possible with a confident consolidation above 1.0740-1.0700. In the upcoming trading sessions, the following events should be noted: - Today at 12:00 (GMT +3:00) expected consumer inflation in the Eurozone; - Today at 13:00 (GMT +3:00) special EU summit of heads of state; - Today at 15:30 (GMT +3:00) US GDP. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 27 Author Share Posted June 27 USD/JPY Rate Hits Highest Level Since 1986 As shown in the USD/JPY chart, today the rate is around 160.58 yen per US dollar. Bloomberg reports the words of Japan’s Finance Minister Shunichi Suzuki: → It is desirable for the exchange rate to move in a stable manner. → Sudden, one-sided moves are not desirable. → We will analyze the background to this move with a high sense of urgency, and take necessary action as needed. Such rhetoric from officials seems not to have deterred the bulls, who are keeping the rate above the April high (when the Bank of Japan intervened in the market to support the weakened yen, resulting in a 4.75% decline over 5 days). In our analysis from 24 June, we noted that: → the price is moving within a large upward channel (shown in blue), → and the local rise (framed by orange lines) could push the price to the boundaries of the blue channel. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted June 28 Author Share Posted June 28 Market Analysis: GBP/USD Turns Red While USD/CAD Rallies GBP/USD declined below the 1.2670 support zone. USD/CAD is rising and might aim for more gains above the 1.3735 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a fresh decline from the 1.2700 resistance zone. There is a key bearish trend line forming with resistance at 1.2640 on the hourly chart of GBP/USD at FXOpen. USD/CAD is showing positive signs above the 1.3675 support zone. There is a major bullish trend line forming with support at 1.3705 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 1.2700 zone. The British Pound traded below the 1.2670 support to move into further a bearish zone against the US Dollar. The pair even traded below 1.2640 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2625 level. A low was formed at 1.2621 and the pair is now consolidating losses below the 23.6% Fib retracement level of the downward move from the 1.2670 swing high to the 1.2621 low. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. a Link to comment Share on other sites More sharing options...
Resolve Posted June 28 Author Share Posted June 28 Strong US Dollar Dominates Forex: For How Long? According to ICE data, the price of the US Dollar Index futures contract has reached its highest level since May 2 of this year. This strength is reflected in the exchange rates of major currencies against the US dollar: → The USD/JPY rate has reached a record high since 1986, which we reported yesterday. Today, 1 USD was worth more than 161 yen. → The NZD/USD rate has dropped to its lowest level since May 15. → The USD/CHF rate has risen to its highest level since June 3. Regarding the euro, the strength of the US dollar has pushed the EUR/USD rate down to significant support. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted July 1 Author Share Posted July 1 Watch FXOpen's 24 - 28 June Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, EU Currencies, USD/JPY, AMZN Shares 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. Nasdaq 100 Index Failed to Hold above 20,000 Points European Currencies Face a Crucial Test: What to Expect USD/JPY Rate Hits Highest Level since 1986 AMZN Shares Set a New All-Time High Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions. FXOpen YouTube Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. #fxopen #fxopenyoutube #fxopenint #weeklyvideo Link to comment Share on other sites More sharing options...
Resolve Posted July 1 Author Share Posted July 1 S&P 500 Analysis: Concerning Market Behaviour On Friday, data was released showing that inflation in the US slowed down in May. According to ForexFactory, the actual monthly Core PCE Price Index was 0.1%, which matched the forecasts (last month’s PCE was 0.3%). Reuters reports that: → Prices for recreational goods, as well as for vehicles, furniture, and durable household appliances, dropped significantly. → This news reinforced expectations that the Federal Reserve might begin to cut interest rates later this year. According to the CME FedWatch tool, market prices now indicate a 63% probability of a Fed rate cut in September, compared to a 55% probability a month ago. Monetary policy easing should be perceived as bullish news for the market, however… While the S&P 500 index (US SPX 500 mini on FXOpen) initially rose in the hours following the publication, it dropped to the week's lows by the end of trading. This bearish market behaviour amidst positive news of slowing inflation is concerning. Today, the price of the S&P 500 (US SPX 500 mini on FXOpen) shows that bulls are trying to recover from Friday's decline. They might be aiming to resume the upward trend that has been in place in 2024. How successful could this be? TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
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