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EUR/USD Analysis: ECB Cuts Interest Rate for First Time Since 2019 By its decision, the ECB followed the example of the Bank of Canada, which lowered interest rates by 0.25%, as we reported yesterday. Consequently, this trend might continue with the Federal Reserve, marking the development of easing monetary policy cycles in Western economies. According to ForexFactory: → the interest rate had been at 4.50% since September 2023; → it was reduced to 4.25%; → the reduction was accurately predicted by experts. According to CNBC: → the ECB forecasts inflation at 2.5% in 2024 and 2.2% in 2025; →"Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady," stated the ECB Governing Council. Given that the rate cut was anticipated, the EUR/USD rate hasn't changed significantly today, despite a noticeable spike in volatility. Analysing the EUR/USD chart on 30 May, we highlighted the importance of the 1.08 level. Since then, the bulls have shown the ability to bounce off this level and rise to 1.09. 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.

Market Analysis: Gold Price Gains Traction, Crude Oil Price Rises Gold price started a fresh increase above $2,350. Crude oil is recovering and might rise toward the $78.40 resistance zone. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a decent increase from the $2,315 zone against the US Dollar. A major bullish trend line is forming with support at $2,368 on the hourly chart of gold at FXOpen. Crude oil is recovering losses and trading above the $74.30 support. There was a break above a connecting bearish trend line with resistance near $73.50 on the hourly chart of XTI/USD at FXOpen. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price formed support near the $2,315 zone. The price remained in a bullish zone and started a fresh increase above $2,340. The bulls even pushed the price above the $2,350 level and the 50-hour simple moving average. Finally, it traded as high as $2,385. The price is now consolidating gains near the $2,385 zone and the RSI is above 70. Initial support on the downside is near the 23.6% Fib retracement level of the upward move from the $2,315 swing low to the $2,38 high at $2,368. There is also a major bullish trend line forming with support at $2,368. The first major support is near the $2,350 zone and the 50-hour simple moving average. It is close to the 50% Fib retracement level of the upward move from the $2,315 swing low to the $2,38 high. If there is a downside break below the $2,350 support, the price might decline further. In the stated case, the price might drop toward the $2,342 support. Immediate resistance is near the $2,385 level. The next major resistance is near the $2,392 level. An upside break above the $2,392 resistance could send Gold price toward $2,400. Any more gains may perhaps set the pace for an increase toward the $2,420 level. 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.

NZDUSD Technical Analysis – 06th JUNE, 2024 NZDUSD – Bearish Trend Reversal NZDUSD was unable to sustain its bullish momentum and after touching a low of 0.6214 started its bearish correction phase coming down below the 0.6190 handle today in the European Trading session. We can see the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA100 in the 1-hourly timeframe. The prices of NZDUSD are ranging near the resistance of the channel in the weekly timeframe indicating the bearish nature of the markets. We can also see that the MACD crosses DOWN its Moving Average in the 4-hourly timeframe. The RSI Indicator is back under 50 in the 2-hourly timeframe indicating the Bearish Trend. NZDUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. • NZDUSD Bearish Reversal seen Below the 0.6214 mark. • Short-term range appears to be Mild Bearish. • NZDUSD continues to remain Below the 0.6190 levels. • Average true range ATR is indicating less market volatility. The next Support is located at 0.6175 which is a 14-3 Day Raw Stochastic at 80%. NZDUSD is now trading below its Pivot levels of 0.6186 and is moving into a Mild bearish channel. The price of NZDUSD remains below its Classic resistance levels of 0.6189 and is moving towards its next target of 0.6153 at which the Price Crosses 9 Day Moving Average. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

AUDUSD Technical Analysis – 06th JUNE, 2024 AUDUSD – Bearish Price Crossover pattern AUDUSD was unable to sustain its bullish momentum and after touching a low of 0.6682 started its bearish correction phase coming down below the 0.6650 handle today in the European Trading session. We can see the formation of Bearish Price Crossover pattern with the Moving Average MA100 in the 2-hourly timeframe. The prices of AUDUSD are ranging near the resistance of the channel in the daily timeframe indicating the bearish nature of the markets. The MACD crosses DOWN its Moving Average in the 2-hourly timeframe indicating the Bearish Trends. The Super Trend Indicator is giving a Bearish Signal in the 1-hourly timeframe. AUDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages. • AUDUSD Bearish Reversal seen Below the 0.6682 mark. • Short-term range appears to be Mild Bearish. • AUDUSD continues to remain Below the 0.6650 levels. • Average true range ATR is indicating less market volatility. The next Support is located at 0.6636 which is a 50% Retracement From 4 Week High/Low. AUDUSD is now trading below its Pivot levels of 0.6649 and is moving into a Mild bearish channel. The price of AUDUSD remains below its Classic resistance levels of 0.6652 and is moving towards its next target of 0.6627 at which the Price Crosses 9 Day Moving Average Stalls. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 06th JUNE, 2024 GBPUSD – Bearish Trend Reversal GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.2808, the prices started correcting downwards crossing the 1.2780 handle today in the European Trading session. We have detected the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA50 in the 1-hourly timeframe. The MACD crosses DOWN its Moving Average in the 2-hourly timeframe indicative of the Bearish Trends. The price of GBPUSD is back under the Pivot point in the 4-hourly timeframe which indicates the bearish pressure present into the markets. The prices are ranging near the resistance of the channel in the daily timeframe indicating the Bearish Trends. GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average. • Pound Bearish Reversal seen below the 1.2808 mark. • Short-term range appears to be Mild Bearish. • GBPUSD continues to remain Below the 1.2780 levels. • Average true range ATR is indicating less market volatility. GBPUSD is now trading just below its Pivot levels of 1.2782 and is moving into a Strongly Bearish channel. The price of GBPUSD is aiming to cross its Classic support levels of 1.2765 which is a 14-3 Day Raw Stochastic at 70%. We are also looking for the breach of the levels of 1.2758 in the immediate short term at which the Price Crosses 9 Day Moving Average. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 06th JUNE, 2024 EURUSD – Bearish Price Crossover pattern EURUSD was unable to sustain its bullish momentum and after touching a low of 1.0895 started its bearish correction phase coming down below the 1.0880 handle today in the European Trading session. We can see the formation of Bearish Price Crossover pattern with the Moving Average MA20 and MA50 in the 1-hourly timeframe. The prices of Euro are ranging near the resistance of the channel in the 1-hourly timeframe indicating the bearish nature of the markets. We can also see the formation of Doji which is indicative of the Neutral stance present in the markets. The RSI Indicator is back under 50 in the 1-hourly timeframe indicating the Bearish Trend. EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. • Euro Bearish Reversal seen Below the 1.0895 mark. • Short-term range appears to be Mild Bearish. • EURUSD continues to remain Below the 1.0880 levels. • Average true range ATR is indicating less market volatility. The next Support is located at 1.0873 which is a 3-10 Day MACD Oscillator Stalls. EURUSD is now trading below its Pivot levels of 1.0879 and is moving into a Mild bearish channel. The price of EURUSD remains below its Classic resistance levels of 1.0883 and is moving towards its next target of 1.0862 which is a 50% Retracement From 52 Week High/Low. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

USD/CAD Analysis: Bank of Canada Cuts Interest Rate by 0.25% This occurred yesterday and was in line with analysts' forecasts, according to a Bloomberg survey. According to statements from the Bank of Canada: → Price growth indicators for consumer price index components have further decreased and are close to their historical average; → Recent data has increased confidence that inflation will continue moving towards the 2% target; → Monetary policy no longer needs to be as restrictive. At the press conference, Governor Tiff Macklem stated that there is “compelling evidence” of weakening inflation and it is “reasonable to expect” further rate cuts if inflation continues to slow. 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.

The Dollar Continues Range-bound Trading Ahead of US Employment Data Despite a busy start to the current five-day period, major currency pairs remain near previously reached extremes. Here’s what happened in recent trading sessions: The US ISM manufacturing PMI data was released (worse than expected: 48.7 vs. 49.8) The ADP employment report was released (worse than expected: 152K vs. 173K) The Bank of Canada meeting resulted in a 0.25% cut in the base interest rate to 4.75% USD/CAD According to the technical analysis of the USD/CAD pair on the daily timeframe, range-bound trading between 1.3740-1.3590 prevails. The price has remained within this corridor for over four weeks, making it difficult to predict the future direction without a decisive breakout. Currently, a bounce from the upper boundary is observed, and with an appropriate news impulse, a retest of 1.3610-1.3590 can be expected. Key upcoming events to watch: Today at 15:30 (GMT +3:00): Initial jobless claims in the US Tomorrow at 15:30 (GMT +3:00): Change in non-farm payrolls in the US (forecast: 185K) Tomorrow at 15:30 (GMT +3:00): Change in full employment in Canada 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.

Stop Overthinking, Just Do Turtle Trading: System, Rules, and Strategy 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.

The Price of Silver Is Acting Weaker Than Gold According to Reuters, precious metal prices have risen in the past 1-2 days as Treasury yields have fallen, enhancing metals' appeal as a "safe haven" for investor portfolios. Currently: → Expectations are growing that US interest rate cuts may begin as early as September; → Market participants are focusing on non-farm employment data and other US market data, set to be released on Friday at 15:30 GMT+3. In this context, it is notable that the gold market is clearly stronger than silver. The XAU/USD chart shows that the price of gold today rose above $2370 per ounce, a high not seen since 23 May, more than 10 days ago. Meanwhile, the price of silver experienced a decline of over 8% from 29 May to 4 June. Today’s rise appears to be an attempt by bulls to offset this bearish momentum, during which the price of gold remained stable. 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.

Is ADBE Stock Undervalued? The stock chart for Adobe Systems shows that on May 31, 2024, the price fell below $440 – for the first time since June 2023. This drop was partly due to increased competition from Canva, which released updated tools. However, in early June, the decline did not continue, suggesting that ADBE stock is consolidating around a multi-month low. Since the beginning of the year, ADBE has decreased by approximately 23%, while the NASDAQ index (US Tech 100 mini on FXOpen) has increased by more than 12%. Is this indicative of serious problems for the company or is the stock undervalued? A significant amount of information will come from Adobe Systems' earnings report, which will be released on June 13, 2024. According to Yahoo Finance. The company's earnings per share are forecasted to be $4.38, representing a 12.02% increase compared to the same quarter last year. Revenue is forecasted at $5.28 billion, a 9.65% increase compared to the same quarter last year. It is noteworthy that since December 2018, Adobe has consistently exceeded expectations (though this has not always led to a rise in the stock price). According to TipRanks, the average price target for ADBE stock is $624.83 over the next 12 months, indicating a potential upside of +39.36% from current levels – suggesting that most analysts do not believe the company has deep internal issues, as otherwise they would not be forecasting such price growth. 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.

S&P 500 Index: Latest Analysts’ Forecasts Over the three spring months, the S&P 500 (US SPX 500 mini on FXOpen) rose by 3.5% – not the worst result, but it might be disappointing considering that in the first two months of the year the index increased by 7.8%. This trend suggests that: → the rally driven by interest in AI is slowing down; → stock market participants are concerned that Fed rates will remain high. What could be the scenarios for future developments until the end of the year and beyond? The media publish fresh forecasts on the S&P 500 (US SPX 500 mini on FXOpen) price from Wall Street analysts: → MarketWatch: Analysts at JP Morgan believe that the growth potential is exhausted and the market may “hit a wall” preventing further growth. They maintain a forecast that the index value at the end of 2024 will be 4200 points. → MarketWatch: Experts at Wells Fargo think it would be too optimistic to expect stocks to reach new record highs ahead of the US elections in November; however, further growth related to the election results looks likely in 2025. They estimate the index could reach a record 5700 points by the end of next year. → BusinessInsider: According to Capital Economics, the index could rise if Treasury yields fall and the momentum from AI adoption remains strong. Their forecast is 6500 points by the end of 2025, followed by a sharp correction in 2026. 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.

Market Analysis: AUD/USD and NZD/USD Could Continue Higher AUD/USD is correcting gains from the 0.6700 zone. NZD/USD is showing positive signs and might attempt a fresh increase above 0.6200. Important Takeaways for AUD USD and NZD USD Analysis Today The Aussie Dollar started a downside correction from 0.6700 against the US Dollar. There is a key bullish trend line forming with support at 0.6645 on the hourly chart of AUD/USD at FXOpen. NZD/USD is gaining pace above the 0.6145 support zone. There is a major bullish trend line forming with support at 0.6170 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 increase from the 0.6590 support. The Aussie Dollar was able to clear the 0.6630 resistance to move into a positive zone against the US Dollar. There was a close above the 0.6645 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6700 zone. A high was formed near 0.6698 and the pair is now correcting gains. There was a move below the 0.6670 level. The pair declined below the 50% Fib retracement level of the upward move from the 0.6590 swing low to the 0.6698 high. On the downside, initial support is near a key bullish trend line at 0.6645. The next major support is near the 61.8% Fib retracement level of the upward move from the 0.6590 swing low to the 0.6698 high at 0.6630. If there is a downside break below the 0.6630 support, the pair could extend its decline toward the 0.6590 level. Any more losses might signal a move toward 0.6520. On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6670. The first major resistance might be 0.6700. An upside break above the 0.6700 resistance might send the pair further higher. The next major resistance is near the 0.6720 level. Any more gains could clear the path for a move toward the 0.6750 resistance zone. 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.

Analysis of PFE Price: Is the Stock Undervalued? Yesterday, the price of Pfizer's stock rose by more than 2.2%, while the S&P 500 index remained almost unchanged from the opening to the closing of trading. This fact is noteworthy, considering that for many months the price of PFE stock performed worse than the market - if the S&P 500 grew by 23% during 2023, then the price of PFE decreased by approximately 43%. The decline in 2023 (shown by the red channel) was disappointing. But what about now - is the situation changing? Are investors missing out on something important by turning away from PFE? Several factors indicate that PFE stock may have optimistic prospects. Fundamentally - Investors Place has included PFE in the list of the most undervalued stocks for reasons such as: → 2023 saw a record number of FDA approvals. New drugs could boost sales. → Pfizer acquired Seagen, significantly expanding its capabilities in cancer research. This supports the company's strategy to become a world-class leader in oncology. → By 2030, Pfizer plans to release 8 drugs that could become "blockbusters." 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.

European Currencies on Track to Yearly Highs The first summer month saw a sharp rise in European and commodity currencies against the dollar. For instance, the pound/dollar is heading towards 1.2850, while the euro/dollar is set to test a significant resistance level at 1.0960. The surge in volatility at the beginning of the week was made possible thanks to the following events: Yesterday at 17.00 (GMT +3:00) the release of the ISM Manufacturing Purchasing Managers' Index (PMI) for the US (48.7 versus a forecast of 49.8); Yesterday at 17.00 (GMT +3:00) the publication of the ISM Manufacturing Prices Index for the US (57.0 versus a forecast of 60.0). EUR/USD Technical analysis of the eur/usd pair indicates the possibility of further growth towards 1.1100-1.1000, provided that the 1.0900 mark remains a support level. In case of a break below the mentioned support, a test of 1.0880-1.0850 may be possible. The following news releases may impact the pair's movement: Today at 10.20 (GMT +3:00) speech by ECB Governing Council member Eduardo Fernandez-Bollo; Today at 10.55 (GMT +3:00) release of the unemployment rate in Germany for May. 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.

AUD/USD Analysis: US Dollar Rebounds from Decline Yesterday, the PMI Manufacturing indices for several countries were published. The news turned out to be disappointing for the US - according to ForexFactory: → Final Manufacturing PMI: actual = 51.3; expected = 50.9; previous value = 50.9; → ISM Manufacturing PMI: actual = 48.7; expected = 49.8; previous value = 49.2; This led to a weakening of the US dollar yesterday, as the not-so-strong manufacturing activity data, as reported by Trading Economics, supported arguments in favor of the Federal Reserve lowering interest rates. As a result, currencies of other countries strengthened against the dollar, notably the AUD/USD exchange rate rose above 0.669 - the highest level in 2 weeks. However, today the US Dollar is rebounding from yesterday's decline - and this is more clearly visible on the AUD/USD chart, indicating potential internal weakness for the Australian dollar. 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.

Championship Winner Josue Nauzaya Ngingasa Launches His Own PAMM Account Hi there, Josue Nauzaya Ngingasa, a distinguished two-time championship winner and runner-up for two consecutive seasons, has registered his own PAMM account. Ranked third in the championship rankings. To gain deeper insights into Josue's trading strategies and journey to success, watch the full interview on the championship's YouTube channel. Josue with his new PAMM account offers followers an opportunity to follow his proven trading strategy. As usual, as the 2024 season unfolds, we invite traders who are confident and eager for growth to join our community! 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.

Nobody Built Like You, You Design Yourself Compound Trading Strategy: Definition and Use 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.

GBPUSD Technical Analysis – 03rd JUNE, 2024 GBPUSD – Resistance of Channel is Broken GBPUSD was unable to sustain its bearish momentum and after touching a low of 1.2685, the prices started correcting upwards crossing the 1.2780 handle today in the European Trading session. We have detected the formation of Moving Average Bullish crossover pattern with the MA20 & MA50 in the 15-minutes timeframe. The resistance of the channel and triangle is broken in the 1-hourly timeframe. We can see the Super Trend indicator bullish reversal signal in the 1-hourly timeframe. The Parabolic SAR indicator is giving a bullish reversal signal in the 2-hourly timeframe. The Ichimoku price is over the cloud in the 4-hourly timeframe. GBPUSD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving average. • Pound Bullish Reversal seen Above the 1.2685 mark. • Short-term range appears to be Mild Bullish. • GBPUSD continues to remain Above the 1.2760 levels. • Average true range ATR is indicating High market volatility. GBPUSD is now trading just above its Pivot levels of 1.2771 and is moving into a Strongly Bullish channel. The price of GBPUSD is aiming to cross its Classic Resistance levels of 1.2785 after which we can see the breach of 1.2800 levels which is a 1-months High. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 03rd JUNE, 2024 EURUSD – Bullish Trend Reversal EURUSD was unable to sustain its bearish momentum and after touching a low of 1.0790 started its bullish correction phase touching a high of 1.0880 today in the European Trading session. We can see the formation of a Bullish Trend Reversal pattern with the Moving Average MA20 in the 30-minutes timeframe. Both the Resistance of the channel and triangle is broken in the 30-minutes timeframe. We can also see the formation of White line without lower shadow in the 15-minutes timeframe which is indicative of the present Bullish trend in the markets. The Ichimoku price is over the cloud in the 30-minutes timeframe indicating the Bullish momentum of the markets. The Parabolic SAR indicator is giving a bullish reversal signal in the 1-hourly timeframe. EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. • Euro Bullish Reversal seen above the 1.0790 mark. • Short-term range appears to be Mild Bullish. • EURUSD continues to remain Above the 1.0870 levels. • Average true range ATR is indicating high market volatility. The next Resistance is located at 1.0895 which is a 1-Months High. EURUSD is now trading above its Pivot levels of 1.0835 and is moving into a Mild bullish channel. The price of EURUSD remains above its Classic resistance levels of 1.0856 and is moving towards its next target of 1.0917 which is a Pivot Point 2nd Level Resistance. Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand. For in-depth analysis, please check FXOpen Blog

MSFT Shares Surge on Record Yearly Volumes On Friday, 31 May, almost 48 million Microsoft shares were traded on the NASDAQ – the highest number since the start of 2024. Meanwhile, the MSFT price chart formed a “hammer” candle: → trading opened at $416.75 per MSFT share; → mid-session, the price dropped below $406; → however, by the end of trading, the price had recovered to $415.13. Fundamentally, it is difficult to pinpoint a single piece of news that served as the bullish driver. According to Barron's, a significant incentive for investing in MSFT shares should be considered the prospect of high dividend payouts. 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.

WTI Oil Price Unchanged After OPEC+ Meeting The OPEC+ meeting over the weekend did not have a substantial impact on the price of crude oil. As the chart shows, WTI oil opened today at $76.72 per barrel, while on Friday it closed at $76.57 – indicating that the decision made by oil producers is ambiguous. The bullish argument is that restrictions on oil production to maintain its price will continue. According to Reuters, on Sunday, OPEC+ members agreed to extend the production cuts of 3.66 million barrels per day until the end of 2025. The bearish argument is that eight OPEC+ countries have already signalled plans to gradually phase out voluntary cuts of 2.2 million barrels per day from October 2024 to September 2025. Goldman Sachs analysts overall assessed the results of the meeting as more bearish for the market. "The communication of a gradual unwind reflects a strong desire to bring back production of several members given high spare capacity," they wrote. The WTI crude oil chart shows that the market is breaking the upward trend (shown in blue), which we mentioned in our review on 10 May. Since then, bulls attempted to resume the upward trend, but this only resulted in a false breakout of the psychological level of $80 per barrel on 29 May (indicated by an arrow). Afterwards, bears regained control and sharply pushed the price below the lower boundary of the blue upward channel, making the downward channel (shown in red), which began in April, more relevant. 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/CHF Rate Falls Over 1% After SNB Chief's Statements As evidenced by the USD/CHF chart, yesterday one US dollar was worth 0.913 Swiss francs, but today it is already 0.903, indicating a rate drop of approximately 1%. According to MT Newswires, the franc's strengthening is attributed to statements by Swiss National Bank (SNB) President Thomas Jordan. In his view, an overly weak franc is the most likely source of higher inflation in Switzerland. Notably, since the beginning of 2024, the Swiss franc has weakened against the US dollar by more than 7%, one of the worst performances among G10 currencies. The exchange rate has formed an ascending trend channel (indicated in blue). 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.

NIO Shares Surged Over 9% on Sales Growth Expectations As evidenced by the NIO stock price chart, yesterday's trading closed at $4.93, while today the NIO share price is around $5.40, indicating an increase of over 9%. According to MarketWatch, the rise is driven by expectations that the Chinese electric vehicle manufacturer's deliveries are likely to reach record levels. The existing record was set in July last year when the company achieved monthly sales of 20,462 cars. However, analysts believe this result could be surpassed in May this year due to ongoing discounts on new cars and batteries. The daily chart of NIO shares today shows that the price is in a long-term downtrend (indicated by the red trend channel) due to the global decline in demand for electric vehicles. However, there are fundamental reasons to expect that the downward trend will be broken: → China is intensifying its efforts to develop electric vehicles – the State Council has presented an action plan for decarbonisation. → This month, the International Monetary Fund raised its forecast for China's economic growth in 2024 from 4.6% to 5%. 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.

Market Analysis: GBP/USD Dips While USD/CAD Eyes More Gains GBP/USD is attempting a recovery wave from 1.2680. USD/CAD is rising and might aim for a move above the 1.3690 resistance zone. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a fresh decline from the 1.2800 resistance 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 is showing positive signs above the 1.3660 support zone. There is a connecting bearish trend line forming with resistance near 1.3690 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 1.2800 zone after a decent increase, as mentioned in the previous analysis. The British Pound traded below the 1.2740 support to again move into a short-term bearish zone against the US Dollar. The pair even traded below 1.2710 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2680 level. A low was formed near 1.2680 and the pair is now attempting a short-term recovery wave. There was a fresh upside above the 1.2710 level. The pair climbed above the 23.6% Fib retracement level of the downward move from the 1.2800 swing high to the 1.2680 low. Immediate resistance on the upside is near the 50% Fib retracement level of the downward move from the 1.2800 swing high to the 1.2680 low at 1.2740 and the 50-hour simple moving average. There is also a key bearish trend line forming with resistance near 1.2740. The first major resistance on the GBP/USD chart is near the 1.2770 level. A close above the 1.2770 resistance might spark a decent increase. The next major resistance is near the 1.2800 level. Any more gains could lead the pair toward the 1.2880 resistance in the near term. Initial support sits near 1.2710. The next major support sits at 1.2680, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2620. 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.