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Can Last Week's Gold Price Rally Be Replicated? Gold holds a particularly exceptional status among precious metals. Whilst it does have some use in the manufacturing of consumer durables and electronic products ranging from alloy compounds in wedding rings to terminals for connecting electrical cables in audio equipment, its greatest use case is as an investment vehicle for the purposes of storing value in a physical commodity. Over recent years, other precious metals such as platinum and cobalt have suddenly seen their status change from that of a rare mineral resource to a material in high demand as they form components used in electric vehicle batteries and other renewable energy-related hardware such as solar panels. However, despite the sudden huge demand for these materials for industrial purposes, gold still remains a de facto investable metal whose price movements are often affected by global affairs rather than supply and demand. In the latter part of this month, gold reached a record high, according to World Gold Council data, and was trading at $2427.30 on May 21. That soon took an opposite turn, and by May 26, FXOpen pricing showed gold to be trading at well under the $2,400 mark. 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.

USD/JPY Analysis: The Market is Indecisive Near Its Peak Since May 1 As the USD/JPY chart shows today: → The price is in an upward trend (indicated by the blue channel) that has been relevant since the beginning of 2024. → On Thursday, May 23, the exchange rate nearly reached 157.2 yen per US dollar, surpassing the peak of May 14. → Following this, the market began to stabilise – indicated by the Bollinger Bands' width showing low volatility, which can be interpreted as a sign of market equilibrium or indecision among participants. 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.

Watch FXOpen's 20 - 24 May Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: Nasdaq 100, NVIDIA, EUR/USD, Gold price 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. Tech Stocks Back in Vogue as Nasdaq 100 Rallies to Record High After Earnings Report, NVDA Stock Price Exceeds $1,000 EUR/USD Price Forms Bullish Reversal Amid Key News Gold Price Reaches Historic 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

Success Usually Comes To Those, Who Are Too Busy Looking For It What Is a Liquidity Sweep and How Can You Use It in Trading? Learn Forex Trading with FXOpen #learnforex #forextrading #fxopen Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

You Can Be Everything, You Can Be The Infinite Amount Of Things That People Are What Is the Gold/Silver Ratio, and How Do Traders Use It? Learn Forex Trading with FXOpen #learnforex #forextrading #fxopen Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

Follow Trader Strategy Directly From Our Standings!!! Hi there, We've got some great news! We've updated our top 5 standings and added direct links to PAMM accounts that are participating in the ForexCup Trading Championship 2024. Now you can make the first step to the Follow Trader Strategy directly from our standings! Enroll in FTC 2024 #forextrading #tradingstrategy #forexcup Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

Gold Price Drops Over 3.6% in 2 Days The price of gold has fallen by more than 3.6% over 2 days, as indicated by today's XAU/USD chart. The day before yesterday, at the opening of the daily candle, the price of gold was $2421 per ounce, and yesterday at the close it was $2331. This can be explained by market participants expecting higher Federal Reserve interest rates for a longer period. However, although gold is a hedge against inflation, it has two drawbacks: → It does not inherently generate income; → The gold market may be overvalued – after all, a historical peak was reached on May 20th. Therefore, investors are increasingly paying attention to bonds – they also allow hedging against inflation, while their yields are rising. 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.

S&P-500 Analysis: Good News is Bad News Yesterday, S&P Global reported its Purchasing Managers' Index (PMI) values for the US, which exceeded expectations. According to ForexFactory: → Manufacturing PMI: actual = 50.9; expected = 50.0; previous = 50.0. → Services PMI: actual = 54.8 (the highest value since May 2023); expected = 51.2; previous = 51.3. However, the high PMI values, indicating a healthy economy, led to a drop in the stock index. The S&P-500 index (US SPX 500 mini on FXOpen) fell by more than 1.5% following the publication. What explains this case of "good news is bad news"? The point is, amid high business activity, manufacturers reported rising prices for a range of resources, suggesting that goods inflation might strengthen in the coming months. Stock market participants might have interpreted this as a reason for the Federal Reserve to maintain high rates for a longer period – hence the sharp decline in the index. "Companies remain cautious with respect to the economic outlook amid uncertainty over the future path of inflation and interest rates, and continue to cite worries over geopolitical instabilities and the presidential election," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, in an interview with Reuters. 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.

Market Analysis: Gold Price and Crude Oil Price Signal Bearish Acceleration Gold price started a sharp decline from $2,450. Crude oil prices declined steadily below the $80.00 support and moved into a bearish zone. Important Takeaways for Gold and Oil Prices Analysis Today Gold price climbed higher toward the $2,450 zone before there was a sharp decline against the US Dollar. A key bearish trend line is forming with resistance near $2,375 on the hourly chart of gold at FXOpen. Crude oil prices extended downsides below the $78.00 support zone. A major bearish trend line is forming with resistance near $78.00 on the hourly chart of XTI/USD at FXOpen. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price rallied heavily above the $2,350 resistance. The price even spiked above $2,425 before the bears appeared. A high was formed near $2,450 before there was a major decline. There was a move below the $2,400 support level. The bears even pushed the price below the $2,355 support and the 50-hour simple moving average. 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.

European Currencies Testing Key Levels: Contributing Factors In recent trading sessions, a significant amount of crucial macroeconomic data has been released from the US, Europe, and the UK: Wednesday: Consumer Price Index (CPI) in the UK (the figure came in higher than experts' forecast at 2.3% versus 2.1%) Wednesday: Publication of the minutes from the latest Federal Reserve meeting Thursday: US Manufacturing PMI (the figure exceeded experts' forecast at 50.9 versus 50.0) This rich mix of data contributed to the USD/JPY pair testing 157.00, EUR/USD sellers attempting to break key support at 1.0800, and the GBP/USD pair halting its recent strengthening and returning to 1.2700. EUR/USD Technical analysis of the EUR/USD pair indicates the development of a bearish “dark cloud cover” pattern on the daily timeframe, formed on May 16. If the pair's sellers manage to break the support at 1.0800, the downward movement of the pair could extend towards 1.0730-1.0710. A resumption of the upward movement can be expected once the price moves above 1.0900. Today, several macroeconomic indicators are due for release, which could either reinforce the current trend or lead to the formation of reversal patterns: Today at 09:00 (GMT+3:00) Germany's Q1 GDP Today at 13:00 (GMT+3:00) Eurogroup Meeting 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.

USD to CAD Analytical Predictions in 2024, 2025 and Beyond This comprehensive article delves into the intricacies of the USD to CAD exchange rate, exploring the factors that may influence its trajectory in 2024, 2025, and beyond. From economic outlooks to key market drivers, this article provides valuable insights for traders navigating the complexities of currency trading. The Canadian Dollar's Recent Performance Over the past several years, the USD/CAD exchange rate has experienced a variety of shifts, reflecting broader economic trends and specific events in both the United States and Canada. To see how the pair’s movements have unfolded over the years, head over to FXOpen’s free TickTrader platform to interact with live USD/CAD charts. Throughout 2019, the USD/CAD exchange rate remained relatively stable, fluctuating between 1.35 and 1.30. This period was marked by heightened trade tensions between the US and its key trading partners, primarily China, which had a ripple effect on the pair due to both the US and Canada's significant trade relationships. TO VIEW THE FULL ARTICLE, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

EUR/USD Price Forms Bullish Reversal Amid Key News Last night, the FOMC meeting minutes were released. According to USNews, there were no major surprises. However, the confirmation of persistent inflation – along with hints that some officials discussed potential future rate hikes – displayed a "hawkish" stance. The dollar index initially rose following the minutes' release but returned to pre-release levels this morning, suggesting the initial reaction might have been incorrect. Subsequently, the Purchasing Managers' Index (PMI) data for key European economies was published. According to ForexFactory: → Flash Manufacturing PMI (France): actual = 46.7; expected = 45.8; previous = 45.3; → Flash Services PMI (France): actual = 49.4; expected = 51.8; previous = 51.3; → Flash Manufacturing PMI (Germany): actual = 45.4; expected = 43.4; previous = 42.5; → Flash Services PMI (Germany): actual = 53.9; expected = 53.5; previous = 53.2. Overall, the actual PMI figures, considered a leading indicator of economic health, exceeded expectations and gave the euro a bullish push. The combined effect of the euro's rise and the dollar's decline since midnight resulted in a four-hour EUR/USD chart candle with a long lower tail (indicated by an arrow), suggesting demand outweighs supply. A subsequent bullish candle could confirm this. 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.

After Earnings Report, NVDA Stock Price Exceeds $1,000 For the first time in history, Nvidia's stock price has reached a four-digit number, and its market capitalisation has surpassed $2.5 trillion, ranking third globally after Microsoft and Apple. This surge is due to a strong earnings report, driven by high demand for AI chips: → Earnings per share: actual = $6.12, expected = $5.60; → Gross revenue: actual = $26.04 billion, expected = $24.59 billion. Additionally, Nvidia announced a 10-for-1 stock split to make shares more accessible and attract new investors, which should support NVDA stock in the future. While yesterday's main trading session closed around $950 per share, the price rose by approximately 6% in after-hours trading. Thus, NVDA's stock price has increased by over 100% since the beginning of the year. Can the rally continue? On March 28, in the article "Stock Market Analysis: NVDA Losing Leadership?", we: → Noted signs of weakness relative to the S&P 500 index; → Constructed an ascending blue channel; → Suggested a potential pullback to the $800 level. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

GBP/USD Rate Surges to Two-Month High After Inflation News Today, the Consumer Price Index (CPI) figures for the UK were published. According to ForexFactory: → Annual CPI: actual = 2.3%; expected = 2.1%; previous = 3.2%. → Annual Core CPI: actual = 3.9%; expected = 3.6%; previous = 4.2%. Thus, it can be asserted that: → The current inflation level is at its lowest since 2021. → It is close to the target levels of 2%. However, economists polled by Reuters had expected a sharper drop to 2.1%, based on falling energy prices. Additionally, inflation in the services sector (a key indicator monitored by the Bank of England due to the dominance of this sector in the UK economy) only slightly decreased to 5.9% from 6%. As a result, CNBC reports that market participants have reduced the likelihood of the Bank of England easing monetary policy: → The probability of a rate cut in June has decreased to 15% compared to 50% before the inflation news was published. → The probability of a rate cut in August was estimated at 40% compared to 70% before the publication. The currency market reacted with a surge in volatility – the GBP/USD rate jumped to a two-month high, reaching the 1.27555 level. However, as the market absorbed the data, the price began to gradually decline. 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.

Market Analysis: GBP/USD Climbs Steadily While EUR/GBP Struggles GBP/USD is gaining pace above the 1.2640 resistance. EUR/GBP declined steadily below the 0.8565 and 0.8550 support levels. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is attempting a fresh increase above 1.2700. There is a key bullish trend line forming with support near 1.2690 on the hourly chart of GBP/USD at FXOpen. EUR/GBP is trading in a bearish zone below the 0.8565 pivot level. EUR/GBP is trading in a bearish zone below the 0.8565 pivot level. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair remained well-bid above the 1.2520 level. The British Pound started a decent increase above the 1.2600 zone against the US Dollar. The bulls were able to push the pair above the 50-hour simple moving average and 1.2640. The pair even climbed above 1.2700 and traded as high as 1.2726. Recently, there was a minor decline below the 23.6% Fib retracement level of the upward move from the 1.2656 swing low to the 1.2726 high, but the bulls were active above 1.2700. On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2725. The next major resistance is near 1.2740. A close above the 1.2740 resistance zone could open the doors for a move toward 1.2780. Any more gains might send GBP/USD toward 1.2850. On the downside, there is a key support forming near a bullish trend line at 1.2690. It is close to the 50% Fib retracement level of the upward move from the 1.2656 swing low to the 1.2726 high. If there is a downside break below 1.2690, the pair could accelerate lower. The next major support is at 1.2640. The next key support is seen near 1.2600, below which the pair could test 1.2520. Any more losses could lead the pair toward the 1.2500 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.

Gold Price Reaches Historic High According to confirmed information, Iranian President Ebrahim Raisi, considered a potential successor to the country's supreme leader, Ayatollah Ali Khamenei, died in a helicopter crash in a mountainous area near the border with Azerbaijan. The helicopter also carried Foreign Minister Hossein Amir-Abdollahian and other officials, all of whom perished. As news of the helicopter search in the inaccessible mountainous region spread, the price of gold rose significantly. Yahoo Finance reports that the gold rally was driven by uncertainty about the situation in Iran. The XAU/USD chart indicates that yesterday, at the peak of the day, the price of gold reached $2450, an all-time high. Can the rally continue? 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.

Tech Stocks Back in Vogue as Nasdaq 100 Rallies to Record High The tech-heavy Nasdaq 100 index (US Tech 100 mini on FXOpen’s TickTrader platform) reached a new all-time high on Monday, closing the trading session at 18,684.2 according to FXOpen pricing, fueled by renewed investor enthusiasm for technology stocks. This remarkable feat underscores the resurgence of the tech sector, which has been buoyed by speculation surrounding two key factors: the highly anticipated earnings report from semiconductor giant NVIDIA and the possibility of interest rate cuts by the Federal Reserve. NVIDIA's Earnings Anticipation NVIDIA, a leading player in the rapidly growing artificial intelligence (AI) market, is set to release its earnings report on Wednesday. Investors are eagerly awaiting this announcement, with expectations running high for another quarter of impressive financial performance. The company's cutting-edge chips are in high demand for AI applications, positioning it as a frontrunner in this transformative technology. The anticipation surrounding NVIDIA's earnings has ignited a frenzy in the tech sector, driving up share prices and contributing to the US Tech 100 mini's record-breaking performance. Investors are betting on NVIDIA's continued dominance in the AI space, which could further propel the stock and the broader tech market. 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.

Commodity Currencies Retreat from Local Highs Despite the cooling labour market in the US and declining inflation, the American currency continues to move towards new highs. For instance, the USD/JPY currency pair might update the current month's high at 156.70, the NZD/USD sharply declines after retesting 0.6140, and buyers of the USD/CAD pair have confidently secured a position above 1.3600. USD/CAD The corrective pullback in the USD/CAD pair ended just below 1.3600. According to technical analysis, on May 16th, a bullish "piercing line" pattern formed on the daily timeframe for USD/CAD. The completion of this pattern could lead to a retest of the key range 1.3690-1.3660. If the price remains above these levels in the coming weeks, the pair’s rise could resume towards 1.3850-1.3820. A drop below 1.3600 could contribute to a more extensive downward correction towards 1.3530-1.3470. Important indicators that may affect USD/CAD pricing in the coming trading sessions: Today at 15:30 (GMT +3:00) - Canada’s Core Consumer Price Index (CPI) for April Tomorrow at 17:00 (GMT +3:00) - US Existing Home Sales 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.

Coinbase (COIN) Stock Price Holds at Key Support Level On Thursday, stock market traders were concerned about the sharp drop in Coinbase shares, listed on the Nasdaq, which fell by 9%. This was triggered by rumours that the Chicago-based CME Group is planning to launch cryptocurrency trading, posing a challenge to Coinbase, currently the leading cryptocurrency exchange in the US. It is worth noting that CME already trades Bitcoin futures (since December 2017) and Ethereum futures (since February 2021). Is it possible for CME to launch spot cryptocurrency trading? On one hand, interest in the cryptocurrency market has surged in 2024, with Bitcoin’s price up approximately 58% year-to-date, and around 146% over the past 12 months. On the other hand, CME Group, as the world’s largest operator of exchange-traded derivatives, is considered a fundamental part of the US financial system. The SEC is unlikely to be favourable towards initiating cryptocurrency trading there, given their reputation for high risk. Nevertheless, the sharp decline in Coinbase shares on Thursday did not continue into Friday. 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.

Watch FXOpen's 13 - 17 May Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: S&P500, US Dollar, Gold Price, PEP Stocks 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. The S&P500 Has Reached a Significant Resistance Level US Dollar Adjusts after the Publication of Inflation Data in the US Gold Price (XAU/USD) Is Testing an Important Resistance Zone The Stock Price of PepsiCo (PEP) Is Retracting from its Yearly 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

The Price of Silver Has Reached Its Highest Level in Over Three Years As indicated by the XAG/USD chart today, the intraday price of silver reached $29.84 per ounce yesterday, while the previous yearly high on 12 April was $29.79. The last time this price was seen was in February 2021. It is worth noting that today the price of silver is behaving more bullishly than the price of gold, which is approximately 1.5% below its April high. The main factor contributing to the rise in the price of silver is likely the weakening of the US dollar, as traders expect the Federal Reserve to ease monetary policy. Can the price of silver continue to rise? Analysts are generally bullish. As CNBC reports: → Saxo Bank strategists recently stated in an analytical review that the price of silver could rise to $30, while gold could soon test the $2,400 level. → Analysts at ROTH Capital Partners forecast that the prices of gold and silver will rise even higher in the coming months. According to JC O'Hara, Chief Market Technician, if the price breaks the $30 level, "there will be few resistance levels until the $35/$37 range." Let’s provide more data for a technical analysis of the silver market. 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.

The Share Price of Alibaba (BABA) Has Reached Its Yearly High On 14 May, Alibaba released its first-quarter performance report: → Earnings per share: actual = $1.404, expected = $1.421; → Gross income: actual = $30.716 billion, expected = $30.502 billion. The fact that earnings per share were slightly below expectations did not disappoint investors much, as on 16 May, Alibaba's share price (BABA) reached a yearly high, exceeding $86, forming a wide bullish candlestick with a close near the top (a sign of strong demand). Positive sentiments were also driven by: → Another Chinese company, JD.com, released a report that exceeded expectations; → US regulators published information that well-known investor Michael Burry invested in Alibaba shares. David Tepper, head of the hedge fund Appaloosa Management, also holds a bullish outlook; → According to a note published on X (Twitter) by Citron Research analysts, Alibaba's share price could rise to $100. 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.

Market Analysis: AUD/USD and NZD/USD Set Sights on Additional Upside AUD/USD started a decent increase above the 0.6655 resistance. NZD/USD is also rising and could aim for a move above the 0.6140 resistance. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar found support at 0.6585 and recovered higher against the US Dollar. There is a major bullish trend line forming with support at 0.6670 on the hourly chart of AUD/USD at FXOpen. NZD/USD is consolidating gains above the 0.6100 support. There is a key bullish trend line forming with support at 0.6100 on the hourly chart of NZD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair formed a base above 0.6585. The Aussie Dollar started a decent increase above the 0.6630 resistance against the US Dollar, as mentioned in the previous analysis. The bulls pushed the pair above the 0.6655 resistance zone. There was a close above the 0.6685 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6715 zone. A high was formed at 0.6714 before the pair corrected gains. It tested the 0.6655 zone and is currently consolidating gains. There was a fresh increase above the 23.6% Fib retracement level of the downward move from the 0.6714 swing high to the 0.6654 low. On the upside, the AUD/USD chart indicates that the pair is now facing resistance near the 50% Fib retracement level of the downward move from the 0.6714 swing high to the 0.6654 low at 0.6685. The first major resistance might be 0.6715. An upside break above the 0.6715 resistance might send the pair further higher. The next major resistance is near the 0.6750 level. Any more gains could clear the path for a move toward the 0.6800 resistance zone. If not, the pair might correct lower. Immediate support is near a major bullish trend line at 0.6670. The next support could be 0.6655. If there is a downside break below the 0.6655 support, the pair could extend its decline toward the 0.6630 zone. Any more losses might signal a move toward 0.6585. 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.

Bitcoin Price Hits a Month's High, Breaking Key Resistance Yesterday's release of CPI figures suggests that inflation is slowing down and a rate cut could be on the horizon. This weakened the dollar and boosted the value of assets priced in dollars, including BTC/USD. As a result, the price of Bitcoin hit a May high. Meanwhile, there is sustained demand in the market driven by institutional participants investing in Bitcoin ETFs. According to media reports citing 13F filings: → JP Morgan invested $731,246 USD → Wells Fargo invested $141,817 USD in Grayscale's GBTC. → Similar activity is observed with other traditional banks like BNP Paribas and BNY Mellon, indicating a broader industry trend. 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.

Dollar Adjusts After the Publication of Inflation Data in the US Data on the Consumer Price Index (CPI) in the US, released yesterday, had a significant impact on the pricing of major currency pairs. According to the provided report: The core Consumer Price Index, which excludes food and energy costs, increased by 0.3% from the previous month, while experts had forecasted 0.4%. Retail sales remained unchanged at 0.0%, contrary to analysts' expectations of 0.4%. As a result of the publication of such data, the dollar depreciated against almost all major currencies. For instance, the USD/JPY currency pair retreated from its peak at 156.60, the EUR/USD strengthened by more than 100 pips within a couple of hours, and buyers of the GBP/USD pair tested a significant resistance level at 1.2700. The main reason for the sharp decline of the dollar against G-10 currencies is likely due to the possibility that slowing inflation growth and a weak labour market could prompt the Federal Reserve to change its monetary policy direction and reduce the base interest rate in the coming months. USD/JPY According to technical analysis of the USD/JPY pair on the daily timeframe, a "bearish engulfing" pattern has formed, the confirmation of which could contribute to a retest of the important area between 152.80-152.00. If dollar buyers manage to establish themselves above 154.90, the price may resume its upward movement towards recent highs around 156.00. Macro-economic data that could influence the pricing of the pair in the upcoming trading sessions: Today at 15:30 (GMT +3:00), the number of initial jobless claims in the US. Today at 15:30 (GMT +3:00), the Philadelphia Fed Manufacturing Index (US). 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.