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GBPUSD Technical Analysis – 25th MAR, 2024 GBPUSD – Bullish Engulfing Lines GBPUSD opened this week on a bearish note from its decline last week and touched a low of 1.2594 after which we can see a continuous upsurge in its levels. We can see the formation of Bullish Engulfing lines in the 1-hourly timeframe. The Aroon indicator is giving a bullish trend in the 15-minutes timeframe. We have also detected the formation of Moving Average bullish crossovers: MA50 & MA100 in the 30-minutes timeframe. The support of the channel is broken and the prices of GBPUSD are ranging near horizontal support in the daily timeframe. GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average. Pound bullish reversal seen above the 1.2594 mark. Short-term range appears to be Neutral. GBPUSD continues to remain above the 1.2620 levels. Average true range ATR is indicating less market volatility. GBPUSD is now trading below its Pivot levels of 1.2637 and is moving into a Consolidation channel. The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2639 after which we can see an upwards bullish pressure towards the 1.2661 which is a 38.2% Retracement From 13 Week Low. GBPUSD is poised to continue its bullish moves with the immediate targets of 1.2670 which is a 14-3 Day Raw Stochastic at 30%. Disclaimer: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading. 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 – 25th MAR, 2024 EURUSD – Bullish Harami Pattern EURUSD started this week on a bearish note touching a low of 1.0801 today in the early Asian trading session, after which we can see that the prices have entered in a consolidation phase. We can see the start of a Bullish Trend from the 1.806 levels with a continued escalation in the prices of Euro towards the 1.0840 levels. We can see the formation of Bullish Harami pattern in the daily timeframe and now we are looking to cross 1.0866 which is a 14 Day RSI at 50%. The price of EURUSD is back over the pivot point in the daily timeframe indicating the presence of the bullish trend in the markets. The price of Euro is ranging near the support of the Channel and Triangle in the weekly timeframe. Most of the technical indicators are giving a bullish tone with further upsides located at 1.0866 which is a 38.2% Retracement From 4 Week Low. EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages. Euro bullish reversal seen above the 1.0807 mark. Short-term range appears to be Neutral. EURUSD continues to remain above the 1.0825 levels. Average true range ATR is indicating less market volatility. The next resistance is located at 1.0866 which is a 38.2% Retracement From 4 Week Low. EURUSD is now trading below its Pivot levels of 1.0838 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0835 and is moving towards its next target of 1.0866. Disclaimer: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading. 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

Big in Japan: Several Years of Failed Stimulus Ends, But Stocks Go Up! Japan's notoriously conservative approach to business practices combined with a world renowned reputation for engineering excellence has been a winning combination for the island nation for over 60 years. A relatively small country was able to successfully market a range of products in many sectors ranging from electronic goods to automobiles to a worldwide audience to the extent that Japanese corporations are now global giants with head offices in various countries across the world and the names of these corporations household names in all continents. An incredible attention to detail, highly educated population and unfaltering work ethic transformed Japan into the ultra-sophisticated nation that it is today, however perhaps surprisingly this commercial dominance has not always equaled a world-beating national economy. Over recent years, the Japanese Yen has been subject to various periods of volatility, and Japanese stocks, once the absolute pinnacle of economic success during the 'Yuppie Years' of the 1980s when there was no internet and heavy manufacturing companies and property development giants were the largest companies in the world. Since the rise of the Silicon Valley tech giants, all of which are a creation of the Internet revolution, however, Japan's indices have been far less of a talking point among traders and investors of the stocks of large companies as the absolute dominance of the 'Magnificent 7' and the halo effect they have created around other internet-based companies, software firms and e-commerce tours de force has changed the entire focus from traditional bricks and mortar companies toward those whose products are in the ether. 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.

Bitcoin Price Recovered over the Weekend, But Market Anxiety Remains From the point of view of technical analysis of BTC/USD, on Friday evening the price of Bitcoin was near the lower boundary of the ascending channel (shown in blue). This was alarming as it indicated that the market action could result in a weekly bearish candle forming with the price of BTC down by around 5% — something that hasn't happened since August of last year. However, this did not happen, as the price recovered over the weekend, forming rebounds from the lower border of the channel. The lower shadows of the candles are a sign of demand forces. Moreover, the bulls have broken through the downward trend line (shown in black). Will the bulls be able to return the price of Bitcoin to an upward trajectory within the specified trend? Doubts remain. → Bitcoin “still looks overbought,” JPMorgan strategists warned, predicting a decline to USD 42k. 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 18 - 22 March Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: S&P500, USD, SNB, TSLA 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 Price of the S&P 500 Set a Historical Record amid News from the Fed #SP500 #theFed US Dollar Shows Record Weekly Gain Since Mid-January #USD USD/CHF Analysis: SNB Decision Breaks Multi-month Trend #USDCHF #SNB TSLA analysis: Price Returns to Above the $170 Level, But for How Long? #TSLA #Tesla 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

GBP/USD Price Falls to 1.26 after Bank of England Decision Yesterday, the GBP/USD market experienced a day of intense volatility due to a number of news items. According to Trading Economics: → UK retail sales were flat last month after a strong rise of 3.6% in January, contrasting with market expectations of a 0.3% decline. → The Bank of England decided to leave interest rates unchanged. However, its head Andrew Bailey hinted at a potential reduction in interest rates. He noted positive indicators of lower inflation but stressed the need for greater confidence in managing price pressures. Thus, a clearer prospect of easing monetary policy in the UK (which, however, is relevant for many countries) has become a driver for the weakening of the British pound. 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.

AAPL Share Price Falls More Than 4% after Antitrust Lawsuit Yesterday, the Department of Justice filed an antitrust lawsuit against Apple, alleging that the company has established a monopoly with the iPhone, which has harmed consumers, developers and competitors. “Each step in Apple's course of conduct built and reinforced the moat around its smartphone monopoly,” the government said in the 88-page lawsuit. The result of news of the lawsuit was a sharp decline in Apple's share price by more than 4%. This is a serious blow to stocks that are already underperforming the broader market. As confirmation, we note that yesterday, the ratio of the S&P 500 index to the AAPL share price set a maximum since November 2021. The chart for AAPL stock shows an increasingly bearish picture: 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 Signal More Losses AUD/USD declined below the 0.6575 and 0.6550 support levels. NZD/USD is also moving lower and might trade below the 0.6000 zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a fresh decline from well above the 0.6600 level against the US Dollar. There was a break below a connecting bullish trend line with support at 0.6570 on the hourly chart of AUD/USD at FXOpen. NZD/USD declined steadily from the 0.6105 resistance zone. There was a break below a key bullish trend line with support at 0.6040 on the hourly chart of NZD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair struggled to clear the 0.6635 zone. The Aussie Dollar started a fresh decline below the 0.6600 support against the US Dollar. The pair even settled below 0.6575 and the 50-hour simple moving average. There was a clear move below the 50% Fib retracement level of the upward move from the 0.6504 swing low to the 0.6634 high. Moreover, there was a break below a connecting bullish trend line with support at 0.6570. The pair is now trading below the 76.4% Fib retracement level of the upward move from the 0.6504 swing low to the 0.6634 high. On the downside, initial support is near the 0.6520 zone. The next support sits at 0.6505. If there is a downside break below 0.6505, the pair could extend its decline. The next support could be 0.6455. Any more losses might send the pair toward the 0.6420 support. On the upside, an immediate resistance is near the 0.6550 level. The next major resistance is near 0.6575, above which the price could rise toward 0.6635. Any more gains might send the pair toward 0.6700. A close above the 0.6700 level could start another steady increase in the near term. The next major resistance on the AUD/USD chart could be 0.6780. 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 Yen and European Currencies Strengthen after the Fed Meeting Yesterday's meeting of the US Federal Reserve disappointed dollar buyers. The rate remained at the same level as expected (5.25–5.50%). However, according to the updated FOMC forecast, it will be reduced three times this year by 0.25%, in contrast to four in the December forecast. The 2025 forecast also shows fewer expectations for rate cuts, just three. Naturally, investors' disappointment with this turn of events resulted in sales of the American currency in almost all directions. Thus, the US dollar/yen currency pair rebounded from recent highs at 151.80 and is currently trading below 151.00, the pound/US dollar retested 1.2800, and euro/US dollar buyers managed to strengthen the pair above 1.0900. GBP/USD Weak data on inflation and producer price index in the UK for February, published yesterday, led to the price falling below 1.2680, but by the evening, pound buyers managed to win back losses and test 1.2800. At the same time, today the pair faces an equally important day, rich in foundations. A meeting of the Bank of England is scheduled at 15:00 GMT+3, at which a decision on the base interest rate will be made. Analysts assume that the rate will remain at the same level (5.25%). What is important for market participants will be the number of votes of committee members for a rate reduction this year. If the number of officials who believe that the rate should be reduced at the next BoE meetings is more than one, the pound/US dollar pair may decline to 1.2700-1.2600. Otherwise, the price growth on the GBP/USD chart may resume in the direction of 1.3000-1.2900. 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/CHF Analysis: SNB Decision Breaks Multi-month Trend According to Reuters, on the sidelines of the World Economic Forum in Davos in January, the head of the Swiss National Bank (SNB) Thomas Jordan told the Swiss press that the appreciation of the franc creates problems for exporters. Thus, indicating intentions to weaken the CHF. His words in January seem to be in line with how events are developing — the franc has weakened against the US dollar by more than 6% since the start of the year. Moreover, today, quite unexpectedly, the Swiss National Bank decided to lower the interest rate: actual = 1.50%, forecast = 1.75%, previous value = 1.75%. The result of the decision today was a sharp weakening of the franc against other currencies, including the US dollar. 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 price of the S&P 500 set a historical record amid news from the Fed On March 14, we wrote: “The US500 stock index market is showing signs of positivity, indicating that an attempt to overcome the resistance of 5,200 points with a new record high may be made in the near future.” Yesterday's event created the momentum that allowed the bulls to do this. On Wednesday evening it became known that it was decided to keep the interest rate at 5.5% in the US — this was expected. What market participants paid more attention to was the dovish tone of the Fed. Thus, it became known that by the end of 2024 there may be 3 consecutive rate cuts. According to Jerome Powell: → recent inflation data turned out to be hotter than expected; → however, “in fact, the overall story has not changed, it is a gradual decline in inflation along a somewhat bumpy road.” Thus, fears associated with a longer period of tight monetary policy have been dispelled. As a result, the US dollar fell in price against a number of currencies, and the US stock market index S&P 500 soared to a new historical high around the level of 5,250. 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.

GBPUSD Technical Analysis – 20th MAR, 2024 GBPUSD – Resistance of Channel is Broken GBPUSD opened this week on a bearish note and touched a low of 1.2666 on 19th March after which we can see the prices moving towards the consolidation phase in the markets. Today we saw a bullish breakout in the markets with the prices of GBPUSD touching a high of 1.2786 in the US Trading session. The Resistance of the channel is broken in the 1-hourly timeframe. We can also see the formation of Moving Average Bullish crossovers: AMA20 and AMA50 in the 1-hourly timeframe. We have also detected the formation of Bullish Harami pattern in the weekly timeframe. Some of the technical indicators are also giving a neutral stance indicating the presence of the consolidation wave in the markets. GBPUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving average. Pound bullish reversal seen above the 1.2683 mark. Short-term range appears to be Neutral. GBPUSD continues to remain above the 1.2770 levels. Average true range ATR is indicating high market volatility. GBPUSD is now trading above its Pivot levels of 1.2779 and is moving into a Consolidation channel. The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2791 after which we can see an upwards bullish pressure towards the 1.2808 at which the Price Crosses 9 Day Moving Average Stalls. GBPUSD is poised to continue its bullish moves with the immediate targets of 1.2835 which is a 14-3 Day Raw Stochastic at 80%. Disclaimer: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading. 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 – 20th MAR, 2024 EURUSD – Bullish Trend Reversal EURUSD started this week on a bearish note touching a low of 1.0834 on 19th March after which we can see that the prices have entered into a consolidation channel. Today we saw that the prices of EURUSD were able to manage a breakout and we saw the emergence of a bullish momentum with a continuous uptick in the prices of EURUSD. We can see the formation of Bullish Trend Reversal pattern with the Adaptive Moving Average AMA20, AMA50 and AMA100 in the 4-hourly timeframe. The MACD indicator is back over zero in the 2-hourly timeframe indicating a bullish tone present in the markets. Most of the technical indicators are giving a bullish tone with further upsides located at 1.0943 which is a 14-3 Day Raw Stochastic at 80%. In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0948 at which the Price Crosses 9 Day Moving Average Stalls. EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. Euro bullish reversal seen above the 1.0936 mark. Short-term range appears to be Neutral. EURUSD continues to remain above the 1.0900 levels. Average true range ATR is indicating high market volatility. The next resistance is located at 1.0943 which is a 14-3 Day Raw Stochastic at 80%. EURUSD is now trading above its Pivot levels of 1.0915 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0907 and is moving towards its next target of 1.0948. Disclaimer: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading. 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

TSLA analysis: Price Returns to Above the $170 Level, But for How Long? After forming a low of the year on March 14, the TSLA share price managed to rise above the USD 170 level — investors reacted positively to Tesla’s decision to increase prices for electric vehicles in the US and Europe. However, the TSLA stock market remains under pressure: the TSLA price performs noticeably worse than the S&P 500 index; the price forms a downward channel (shown in red); Goldman Sachs analysts cut their forecast for Tesla shares to USD 190 from USD 220 for the next 12 months due to problems with production and sales. Yahoo writes that investors are not happy with Musk's attitude. The fall in Tesla shares could quickly stop if the company gets a “real CEO” or Musk changes his position and returns to work and positively promoting the brand. What is the market outlook? 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.

Correction in Crypto Markets: BTC/USD Rate Drops to $60,000 On March 18, we wrote that bears became more active near the $70,000 level. As the BTC/USD chart shows, today the price of Bitcoin is already close to the psychological level of USD 60k, while the price of Ethereum is close to USD 3,000. According to MarketWatch, experts consider the decline to be a correction that is “long overdue” as part of an upward trend. According to Fundstrat, Monday saw net outflows from BTC ETFs for the first time since March 1, amounting to about $154.3 million. What's next? From a technical analysis point of view, the price of Bitcoin, given an increase of approximately 90% from point A (around USD 38.8k) to point B (around USD 73.4k), a normal correction of 50% indicates the prospect of a decline to the area of USD 56.1k. 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: EUR/USD Dips Again, USD/JPY Rallies Above 151 EUR/USD started another decline from the 1.0960 resistance. USD/JPY surged and broke the 151.00 resistance zone. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.0900 support zone. There is a key bearish trend line forming with resistance at 1.0870 on the hourly chart of EUR/USD at FXOpen. USD/JPY climbed higher above the 150.00 and 151.00 levels. There is a connecting bullish trend line forming with support at 150.20 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair struggled to clear the 1.0960 resistance zone. The Euro started a fresh decline and traded below the 1.0900 support zone against the US Dollar. The pair even declined below 1.0870 and tested the 1.0835 zone. A low was formed near 1.0834 and the pair is now correcting losses. On the upside, the pair is now facing resistance near the 50% Fib retracement level of the recent decline from the 1.0906 swing high to the 1.0834 low at 1.0870. There is also a key bearish trend line forming with resistance at 1.0870. The next key resistance is near the 76.4% Fib retracement level of the recent decline from the 1.0906 swing high to the 1.0834 low at 1.0890. The main resistance is 1.0905. A clear move above the 1.0905 level could send the pair toward the 1.0960 resistance. An upside break above 1.0960 could set the pace for another increase. In the stated case, the pair might rise toward 1.1020. If not, the pair might resume its decline. The first major support on the EUR/USD chart is near 1.0835. The next key support is at 1.0820. If there is a downside break below 1.0820, the pair could drop toward 1.0785. The next support is near 1.0750, below which the pair could start a major 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.

A Yen For Volatility: US Dollar Surges as Japan Ends 8 Years of Negative Rates Eight long years have passed since the Bank of Japan introduced its controversial yet pioneering attempt to encourage spending in what has become an ultra-conservative economy, which has experienced a sustained period of stagnation. In 2016, Japan's central bankers decided to introduce negative interest rates, a term which refers to the maintaining of artificially low interest rates in order to encourage businesses and private individuals to borrow money and therefore spend, which would in turn increase the size of the Japanese economy and result in economic growth. During that eight-year period, times have not been easy in Japan with regard to its national economic situation, and despite the country having not invoked any lockdowns or restrictions in the way that many Western nations did four years ago and a longstanding series of challenges faced the Japanese fiscal situation. Over the course of time, Japan's demographics have changed, and it has the longest life expectancy in the world; therefore, a large proportion of retired people and a conservative younger generation have appeared to save money rather than spend or invest it. Many analyses consider that the negative interest rate policy was invoked to encourage such people to withdraw their savings from bank accounts and either spend it or invest it in other areas, such as property or business ventures. Just six months after the introduction of the policy in 2016, the Japanese economy had not grown, and in some reports there are opinions which state that Japan's authorities can now look back on 25 years of failed economic stimulus attempts. That is a harsh criticism, however it appears that Japan's central bank has given up on the most recent one and in a landmark decision has today put an end to eight years of negative interest rates. This means a return to standard market rates, and the result in the currency markets is noticeable. The US dollar has made gains against the Japanese Yen during today's trading session, beginning with the Asian market. The USDJPY pair is now trading at 150.424 Yen to the US Dollar, which puts it back at the high point it was at when March began. 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 Dollar Strengthens in Anticipation of the Fed's Rate Decision The current five-day period is as full as possible with important fundamental data. This morning, a meeting of the Bank of Japan and the RBA took place. Tomorrow, the Fed will announce its decision on the rate, and on Thursday, market participants expect a verdict from the Bank of England. Decisions by officials may determine the pricing of major currency pairs in the coming months. After all, most currency pairs have been trading in narrow flat corridors for a long time, and an increase in volatility can lead to the start of new medium-term trends. GBP/USD A week ago, pound buyers managed to update the high of December last year at 1.2830. The price almost reached 1.2900, but the pound bulls failed to continue the upward movement and test the psychological resistance level at 1.3000. The pullback from 1.2900 contributed to the formation of a reversal combination for selling bearish harami on the w1 timeframe. Technical analysis of GBP/USD shows that if this formation continues, the price may decline to recent extremes at 1.2530-1.2500. We can consider cancelling the downward scenario if we confidently consolidate above 1.2900. Tomorrow, pay attention to the release of data on the consumer price index in the UK for February. At 12:00 GMT+3, the housing price index for the past month will be released. 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.

Bank of Japan Ends the Era of Negative Interest Rates The Bank of Japan has not raised interest rates for 17 years. For 8 years, it was in the negative zone. But today there was a dramatic shift in monetary policy — the Bank of Japan announced a decision to increase the interest rate from -0.1% to 0.1%. The central bank also abandoned yield curve control (YCC), a policy that had been in place since 2016 and capped long-term interest rates near zero. Considering the scale of the decisions taken, the reaction of the yen exchange rate relative to other currencies turned out to be moderate. This is because the plans of the Bank of Japan have been discussed for a long time, including in official sources of information. Therefore, it is acceptable to assume that participants in the currency markets have already laid down the probability of today's event. In fact, the yen has weakened as a result, but this may only be an initial reaction in which markets are reassessing the impact of the Bank of Japan's decision over a range of short-term to long-term horizons. 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.

CHAMPIONSHIP RANKING UPDATED: MEET THE TOP TRADERS ACROSS SEASONS Hi there, The ForexCup Trading Championship has just updated its profile rankings to reflect the latest results from participants across all seasons. Join us in celebrating the outstanding performances of these top traders: FTC Rating 1 — Seyit Altuntas from Turkey FTC Rating 2 — Emirhan Gören from Turkey FTC Rating 3 — Josue Nauzaya Ngingasa from South Africa FTC Rating 4 — Ebru Gören from Turkey FTC Rating 5 — Busra Ozden from Turkey FTC Rating 6 — Fransiska Selbie from United Kingdom FTC Rating 7 — Eduardo Soares Bogosian from Brazil FTC Rating 8 — Prieur Du Plessis from Slovenia FTC Rating 9 — Chai Yu Chuin from Malaysia These traders have demonstrated exceptional trading skills and have consistently delivered impressive results throughout their participation in the championship. If you're passionate about trading and eager to test your skills against the best, now is the perfect time to join the ForexCup Trading Championship! Don't miss out on the opportunity to learn, grow, and compete alongside these talented traders. Enroll in FTC 2024 #forextrading #tradingstrategy #forexcup Disclaimer: This publication represents the News 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.

US Dollar Shows Record Weekly Gain Since Mid-January The US dollar strengthened on Friday ahead of a series of highly anticipated central bank meetings next week, including the US Federal Reserve. The dollar rose 1.3% for the week, its biggest gain since mid-January, after a mixed batch of data showed the U.S. economy remained resilient. That suggests the Federal Reserve could keep interest rates high for longer or reduce its planned number of rate cuts this year. Data on Friday showed a strong US manufacturing sector, with output rebounding 0.8% last month after a downwardly revised 1.1% decline in the previous month. The University of Michigan's preliminary overall consumer sentiment index for the month was 76.5, down from a final reading of 76.9 in February. The Fed's measure of annual inflation expectations remained unchanged at 3.0% in March. The five-year inflation forecast also remained stable at 2.9% for the fourth month in a row, according to the survey. The US Federal Reserve meeting will take place on Wednesday and analysts do not expect officials to make changes to monetary policy, but expect to receive forecasts for borrowing costs for the current year. The market continues to price in at least three 25 basis point interest rate cuts before the end of 2024, the first of which could come in June. EUR/USD The EUR/USD pair shows mixed dynamics, remaining close to 1.0885. Immediate resistance can be seen at 1.0899, a break higher could trigger a move towards 1.0963. On the downside, immediate support is seen at 1.0872, a break below could take the pair towards 1.0840. Market activity remains subdued at the beginning of the week as traders are in no hurry to open positions in anticipation of the emergence of new drivers. Today the eurozone will publish February inflation statistics. The forecasts do not assume any changes in the consumer price index compared to previous data. On Thursday, March 21, trading participants will evaluate March data on business activity in the eurozone, as well as the ECB's monthly economic report, which may clarify the prospects for the regulator's monetary policy for the current year. Forecasts for business activity indices suggest an increase in the indicator from 46.5 points to 47.0 points in the manufacturing sector and from 50.2 points to 50.5 points in the services sector. Technical analysis of EUR/USD shows that a new downward channel has formed based on last week’s lows. Now the price is in the middle of the channel and may continue to 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.

Tesla Stock Hits a Low Point as Musk Sues Openai - Is This Year a Total Write-Off? Occasionally during the course of industrial progress, there is a maverick; a voice that is known for continual disruption and maintaining a high-profile position whilst engaging in such disruption. The figure of this decade is Elon Musk, a self-starter whose bluster and direct prose cast him as one of the world's most outspoken individuals, as well as a business magnate who manages to influence the financial markets at the click of a button. From generating unprecedented waves in the cryptocurrency markets in 2021 to causing the motor industry to break with its 130-year-old tradition of using internal combustion as a main method of motive power, Elon Musk's market-making abilities are in line with his disruptive commentary and social media activity. This set of characteristics has led to volatile stock in the most famous company, Tesla, founded and led by Elon Musk. With regard to such volatility, the start of this week is no exception. Tesla stock is currently nosediving and has reached a low point of $162.20 by March 14. At the close of the US trading session on Friday, March 15, Tesla stock had retrieved some of the losses and rested at the mid-$163 range, however, this represents a mere slowing down of the plunging of Tesla stock prices because ever since the beginning of this month, Tesla stock has been depreciating at a considerable rate. 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.

BTC/USD Analysis: Bears Have Become More Active Near the $70,000 Level On February 26 (A), a strong bullish impulse started in the Bitcoin market. Its trajectory is visually described by a blue line. The price of bitcoins developed along it — this can be interpreted in such a way that market participants agreed that the value of the cryptocurrency was increasing. If the price of Bitcoin deviated from the blue line, it was only for a short period of time. For example, to pierce the psychological level of USD 60,000 on March 5th. However, the bullish momentum changed on March 15th, and this can be seen on the BTC/USD chart today: → the blue line began to work as resistance (shown by the first arrow); → the level of USD 70,000 also began to act as resistance (shown by the second arrow). 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.

Watch FXOpen's 11 - 15 March Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: US500, USD, US Inflation, USD/JPY 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. US500: The Market Has Been Growing without Corrections by 2% for 266 Consecutive Trading Sessions #US500 A Weak Dollar Is the Driver of Price Records for NASDAQ-100, BTC/USD, XAU/USD #Dollar #USD #NASDAQ100 #BTCUSD #XAUUSD Major Currency Pairs Consolidating after the Release of US Inflation Data #USInflation #Inflation USD/JPY: Analysts Adjust Forecasts for the Strengthening of the Yen #USDJPY 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

FXOpen and TradingView: Why trade with us? Embrace the unparalleled trading experience with the help of a trusted broker and supercharged charting tools. FXOpen and TradingView: Why Trade with Us? TradingView: 30M+ traders and investors visit the platform every month #1 top investing website in the world 8M+ custom scripts and ideas shared by our users FXOpen: Global markets are just a click away Regulated and authorised for your protection Less stress with advanced tools Responsible Trading Starts Now! #fxopen #tradingview Disclaimer: This publication 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.