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What Is a Petrodollar and How Does It Affect the Global Economy? The concept of petrodollars is an insightful topic to study. The petrodollar isn’t a specific currency but a financial system that reflects economic and political forces that have shaped international relations for decades. This concept is critical to understanding global trade dynamics and geopolitical strategies. Petrodollar: Definition and Origins A petrodollar refers to the US dollars earned by oil-exporting countries through the sale of oil to other nations. The term gained fame in the 1970s, a period marked by significant changes in the global economic landscape, particularly concerning energy resources and currency stability. TO VIEW THE FULL ARTICLE, 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. 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.

USD/JPY Analysis: Rate Rises Above 159.9 Yen per Dollar The yen was last this weak against the US dollar in late April, leading to currency interventions as the Bank of Japan deemed a rate above the psychological mark of 160 yen per USD unacceptable. The current weakness of the yen has triggered the usual warnings from Japanese officials against "excessive" volatility, which can be interpreted as a sign of a new wave of interventions. It is noteworthy that following the intervention in late April (when the yen strengthened by 4.5% by the first days of May), it took the market less than two months to negate almost the entire effect of the Bank of Japan's actions. This indicates a strong upward trend (shown in blue), driven by the interest rate differential between Japan and the US. According to Reuters: → The 160.00 level is seen as a red line for the Japanese, considering that yen weakness increases imported inflation and pressures the Bank of Japan (BoJ) to further unwind its ultra-loose policy. → The minutes from the latest central bank meeting confirmed extensive discussions about reducing bond purchases and raising rates. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

S&P 500 Falls from Record High in Anticipation of Key News On Friday, at 15:30 GMT+3, the Core PCE Price Index values will be released – an economic indicator to which the Federal Reserve pays special attention when assessing inflation levels in the US. This event is likely to cause a surge of news in the financial markets, and its anticipation will influence sentiments throughout the week. On Monday morning, the S&P 500 Index (US SPX 500 mini on FXOpen) fell to 5465 points after a historical record above 5500 points was set on June 20th. The decline was contributed by Friday’s report from the National Association of Realtors, which showed a drop in existing home sales in May compared to the previous month. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Watch FXOpen's 17 - 21 June Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, GBP, SNB Interest rate, Brent Crude Oil Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. Nasdaq 100 Index Reaches 20,000 points for the First Time GBP Awaits Bank of England Verdict: Volatility Ahead? SNB Unexpectedly Lowers Interest Rate from 1.50% to 1.25% Brent Crude Oil Price Hits Highest Since 1 May Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions. FXOpen YouTube Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. #fxopen #fxopenyoutube #fxopenint #weeklyvideo

3 Line Strike Pattern: What It Means and How to Use It in Trading Candlestick patterns are crucial tools for traders, offering valuable insights into market sentiment and potential price movements. Among these patterns, the Three Line Strike setup is particularly sought after by traders in forex, stock, commodity, and index markets. This article explores the intricacies of the Three Line Strike, explaining how to identify it on charts, highlighting its unique characteristics, and discussing how to incorporate it into trading strategies. Three Line Strike Pattern: An Overview The Three Line Strike is a candlestick pattern used in technical analysis to trade trend continuations. However, it often appears ahead of trend reversals. The pattern consists of four candlesticks and can be found in up- and downtrends. TO VIEW THE FULL ARTICLE, 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. 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.

Natural Gas Price: Bullish Trend Weakens Forecasts of a hotter summer, published during April and May, led to a sustained bullish trend in the natural gas market, as this commodity is heavily used for air conditioning. Specifically: → The XNG/USD chart indicates that from 1st April to today, the price of natural gas has increased by more than 55%. → According to Bloomberg, there is a 61% chance that 2024 will be the hottest year on record, surpassing 2023. → Natural gas supplies may be unstable due to an unforeseen maintenance shutdown at the Freeport plant. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

The Price of Gold Reached a Two-Week High As shown on the XAU/USD chart, this morning the price of gold exceeded $2360 per ounce (approximately +1.5% since the start of the week). According to Reuters, the increase in the price of gold was driven by: → Rising geopolitical tensions in the Middle East. Hezbollah leader Sayyed Hassan Nasrallah warns of an "all-out war" if Israel launches a full-scale invasion against the Lebanese militia after concluding a military cooperation agreement with Cyprus, with Cyprus potentially becoming a target for Hezbollah. → Expectations of a decrease in Fed interest rates. ANZ Research analysts note that the latest US economic data has shown improved conditions for the Fed to lower rates. High rates typically reduce the attractiveness of gold bars, which do not generate income. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Market Analysis: Gold Price and Crude Oil Price Turn Green Gold price started a fresh increase above the $2,335 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $82.50. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a decent increase from the $2,300 zone against the US Dollar. A connecting bullish trend line is forming with support near $2,345 on the hourly chart of gold at FXOpen. Crude oil prices rallied above the $79.00 and $80.00 resistance levels. There is a key rising channel forming with support at $80.85 on the hourly chart of XTI/USD at FXOpen. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price found support near the $2,300 zone. The price formed a base and started a fresh increase above the $2,320 level. There was a decent move above the 50-hour simple moving average and $2,335. The bulls pushed the price above the $2,350 resistance zone. Finally, the bears appeared near $2,365. A high was formed near $2,365.43 and the price is now consolidating gains. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

GBPUSD Technical Analysis – 20th JUNE, 2024 GBPUSD – Horizontal support is broken GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2722 the prices started to decline against the United States dollar. We can see the formation of Bearish Trend Reversal pattern with the Adaptive Moving average AMA20 in the 4-hourly timeframe. The Horizontal support is also broken in the daily timeframe. The RSI indicator is also back under 50 in the daily timeframe. We have also seen a Bullish opening of the markets this week. The prices of GBPUSD are ranging near the new record low of 1 -months in the weekly timeframe. GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average. • Pound Bearish Reversal seen below the 1.2722 mark. • Short-term range appears to be Mild Bearish. • GBPUSD continues to remain above the 1.2650 levels. • Average true range ATR is indicating less market volatility. GBPUSD is now trading below its Pivot levels of 1.2710 and is moving into a Mild Bearish channel. The price of GBPUSD is aiming to cross its Classic support levels of 1.2700 with further progression towards the 1.2680 which is a Pivot Point 2nd Support Point. We are also looking for the breach of the levels of 1.2666 at which the Price Crosses 40 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 – 20th JUNE, 2024 EURUSD – Bearish Trend Reversal EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0748 the prices started to decline against the United States Dollar. We can see the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA20 in the 4-hourly timeframe. The prices of EURUSD are ranging near the resistance of the channel in the monthly timeframe. The Ichimoku price is under the cloud in the daily timeframe which also indicates the bearish tendencies present in the markets. We can also see the formation of the Ichimoku Bearish crossover Tenkan and Kijun in the 1-hourly timeframe. EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages. • Euro Bearish Reversal seen below the 1.0748 mark. • Short-term range appears to be Mildly Bearish. • EURUSD continues to remain above the 1.0700 levels. • Average true range ATR is indicating less market volatility. The next support is located at 1.0705 which is a Price 2 Standard Deviations Support. EURUSD is now trading below its Pivot levels of 1.0728 and is moving into a Mild Bearish channel. The price of EURUSD remains above its Classic support levels of 1.0706 and is moving towards its next target of 1.0699 which is a Pivot Point 3rd Support Point. 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

SNB Unexpectedly Lowers Interest Rate from 1.50% to 1.25% Today, it was announced that the Swiss National Bank (SNB) decided to lower the interest rate to 1.25%. According to ForexFactory, the analyst consensus had expected the rate to remain at 1.50%, making this decision a surprise. According to SNB Chairman Thomas Jordan: → Inflation in Switzerland is decreasing; → In recent weeks, the Swiss franc has significantly strengthened due to geopolitical tensions, and the SNB is prepared to be active in the Forex market if necessary. The market's reaction to the SNB's decision and the statements from its chairman resulted in a sharp weakening of the Swiss franc. Specifically, the USD/CHF rate rose by approximately 0.7% in the first few minutes. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

What Is a Standard Deviation, and How Can You Use It in Trading? Understanding market volatility is essential for effective trading, and one of the most valuable tools for measuring it is standard deviation. This gauge quantifies the dispersion of asset prices around their mean and provides insights into the variability and potential risk associated with a financial instrument. This article delves into what standard deviation is, its calculation, interpretation, practical implementation, and its limitations. What Is Standard Deviation? Standard deviation is a statistical measure that quantifies the dispersion or variability of a set of data points relative to their mean. In trading, it is used to assess the volatility of a financial instrument. A higher standard deviation indicates greater variability in prices, suggesting more significant swings, while a lower value suggests smaller price fluctuations. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the FXOpen INT company only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the the FXOpen INT, 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.

GBP Awaits Bank of England Verdict: Volatility Ahead? GBP/USD In the first half of the current trading week, the GBP/USD pair has confidently stayed above the significant range of 1.2700-1.2650, continuously attempting to resume its upward trend. Today, everything could change. Depending on the outcome of the Bank of England meeting and the market's reaction to the officials' decision, the pair could either strengthen to 1.2860 or fall to 1.2600. Additionally, we cannot rule out the possibility of the pair continuing its sideways movement, which it has been in for over four weeks. What do experts expect from today's Bank of England meeting: The interest rate is expected to remain at 5.25%. The number of votes for a rate cut is expected to be 2, and for the rate to remain unchanged, 7. Therefore, if any officials change their stance and the current balance shifts dramatically, volatility in the pound could sharply increase. 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.

What Are Upside and Downside Tasuki Gap Patterns? In the dynamic world of forex and CFD trading, the ability to recognise crucial chart patterns is essential for making informed decisions. Among the patterns frequently sought after by traders is the Tasuki Gap setup. This article delves into understanding the Tasuki Gap, its identification on charts, associated trading tactics, and its distinctions from other candlestick formations. Tasuki Gap Pattern: An Overview The Tasuki Gap is a candlestick formation that is used in technical analysis to indicate a potential continuation of a market trend. Comprising the Upside and Downside Tasuki Gaps, this setup allows traders to trade in uptrends and downtrends. The pattern is observed on any timeframe and in different markets, including forex, stocks, commodities, indices, and cryptocurrencies. 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. 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.

Brent Crude Oil Price Hits Highest Since 1 May As the chart shows, yesterday the price of Brent crude oil rose to $84.40, which is the highest level since 1 May 2024. The demand for Brent crude oil was driven by the following factors: The holiday season and increasing consumption from automotive and aviation transport. We wrote about this in the Brent market analysis on 11 June. Let us recall that Goldman Sachs analysts suggest that by the end of the summer, the price of Brent may rise to $86 per barrel with a “ceiling” around $90. Geopolitical tension, namely: → Ukrainian drone strikes on Russian oil refining bases. → The likelihood of escalation in the Middle East. For instance, Reuters reports that Israel’s Foreign Minister Israel Katz warned of an impending “total war” with Lebanon’s Hezbollah, which is backed by Iran. 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.

Nvidia Becomes World's Most Valuable Company According to the NVDA chart today, the share price rose yesterday to a new all-time high, surpassing $135 (after a 10-to-1 split). This pushed Nvidia's market capitalisation to $3.34 trillion, overtaking Microsoft, which is currently valued at $3.32 trillion. As CNBC reports: → Nvidia shares have risen by more than 170% this year, with a strong driver being the first-quarter earnings report released in May. → Since the end of 2022, the shares have increased more than ninefold, driven by the emergence of generative artificial intelligence. → Nvidia holds around 80% of the AI chip market used in data centres, with this business expanding thanks to purchases by OpenAI, Microsoft, Alphabet, Amazon, and Meta. What are the prospects for NVDA's share price? Will the company be able to maintain its status as the most valuable company, a title that has traditionally belonged to either Apple or Microsoft? 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 Sight Steady Increase AUD/USD is attempting a recovery wave from 0.6590. NZD/USD could gain bullish momentum if there is a clear move above the 0.6150 resistance. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar found support near 0.6590 and is now recovering against the US Dollar. There was a break above a key bearish trend line with resistance at 0.6630 on the hourly chart of AUD/USD at FXOpen. NZD/USD is attempting a recovery wave above the 0.6110 resistance. There is a major bearish trend line forming with resistance near 0.6150 on the hourly chart of NZD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair dipped from the 0.6700 resistance zone. The Aussie Dollar declined below 0.6660, but the bulls were active near 0.6600 against the US Dollar. A low was formed near 0.6590 and the pair is now correcting losses. There was a move above the 50% Fib retracement level of the downward move from the 0.6704 swing high to the 0.6585 low. There was also a break above a key bearish trend line with resistance at 0.6630. 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.

TSLA Shares Revive After Shareholder Meeting Last week, Tesla held a shareholder meeting where the main events included: → Shareholders approving Elon Musk’s $56 billion compensation package in TSLA stock options; → Relocating the company’s legal headquarters to Texas; → Elon Musk’s statements on robotics, asserting that Optimus robots could make Tesla a $25 trillion company. Approving the massive compensation eliminated the risk of Musk leaving the company (which would likely have caused a sharp drop in TSLA stock price). The billionaire thanked shareholders and today, 18 June, posted on X (Twitter) announcing that he is working on a new master plan for Tesla’s development, likely focusing on the prospects of Optimus robots. Additionally, news emerged about the launch of Tesla Model 3 sales at a new price in China. This spurred activity in the TSLA stock 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.

Ebru Goren Hits 100.04% Gain, Maintains Top Spot For Second Consecutive Month Hi there, Ebru Goren from Turkey continues to make waves in the championship, achieving an impressive 100.04% gain while maintaining her position at the top of the standings for the second consecutive month. In another exciting development, Eduardo Soares Bogosian from Brazil has made a notable return to the standings, securing the 4th place. Bogosian, who took third place in the 2021 season, is once again demonstrating his trading prowess. With his Follow Trader Strategy account registered in the championship, Bogosian offers the opportunity to follow his strategy and benefit from his extensive experience. 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.

What Is the Gravestone Doji and How Can You Use It in Trading? Candlestick patterns are important tools in analysing market movements and making trading decisions. Among these patterns, the Doji candlestick is particularly popular for identifying potential price reversals. The Gravestone Doji is a unique and powerful candlestick pattern. Like other Dojis, it reflects the market's sentiment and provides insights into the ongoing battle between buyers and sellers. This article explores the characteristics of the Gravestone Doji candlestick pattern and explains how to identify and trade it. Gravestone Doji Pattern: An Overview TO VIEW THE FULL ARTICLE, 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. 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.

European Currencies Adjust to Support Levels: Is Growth Possible? A week rich in macroeconomic data contributed to the decline of the euro, yen, and pound. Notably, the following events were significant: Inflation falling for the second consecutive month (0.2% against the expected 0.3%); The publication of the updated forecast from the Federal Reserve (one reduction in the federal funds rate by 0.25%, presumably in September). Nonetheless, despite the hawkish stance of the Federal Reserve and the steady slowdown in inflation, European currencies managed to stay above key levels relative to the dollar, even laying the groundwork for forming reversal patterns. 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.

Nasdaq 100 Index Reaches 20,000 Points for the First Time On 30 May, we noted some uncertainty in the price behaviour of the Nasdaq 100 (US Tech 100 mini on FXOpen) near the resistance level of 18,840, as shown by arrow #1. Following this, the price declined and tested the former resistance at 18,250 (indicated by arrow #2) – the long lower shadow on the candle indicated aggressive demand (more details in the article on the Hammer pattern). This test gave the bulls confidence to break through the 18,840 resistance. In June, the price continued to rally within the ascending channel (shown in green), which is part of a larger ascending channel (shown in blue), driven by: → prospects for AI implementation; → prospects of Fed rate cuts. Yesterday, the Nasdaq 100 (US Tech 100 mini on FXOpen) rose by approximately 1.2%, reaching the psychological level of 20,000 points. This record was supported by influential analysts raising their forecasts for US stock markets. For example: → Goldman Sachs raised the year-end 2024 target for the S&P 500 (US SPX 500 mini on FXOpen) from 5200 to 5600; → Evercore ISI increased its forecast for the same index from 4750 to 6000. Market sentiment was also buoyed by the anticipation of several comments from FOMC members scheduled for this week. These might confirm the Fed's intention to cut rates as early as September this year. 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 – 17th JUNE, 2024 NZDUSD – Bullish Trend Reversal NZDUSD continued its decline towards the 0.6108 levels after which we can see some rebound in its prices in the European Trading session. We can see the formation of Bullish Trend reversal with Moving Average MA20 in the weekly timeframe. The prices of NZDUSD are ranging near the support of the triangle in the monthly timeframe which indicates the bullish rebound. The RSI indicator is giving a bullish divergence signal in the 1-hourly timeframe. The prices of NZDUSD are ranging near a new record high of 1 -months and 1-year which also indicates the presence of the bullish trends in the markets. NZDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages. • NZDUSD Bullish rebound seen above the 0.6108 mark. • Short-term range appears to be Mild Bullish. • NZDUSD continues to remain above the 0.6100 levels. • Average true range ATR is indicating less market volatility. The next resistance is located at 0.6120 which is a 3-10 Day MACD Oscillator Stalls. NZDUSD is now trading below its Pivot levels of 0.6115 and is moving into a Mild bullish channel. The price of NZDUSD remains above its Classic support levels of 0.6090 and is moving towards its next target of 0.6128 which is a 14-3 Day Raw Stochastic at 30%. 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 – 17th JUNE, 2024 AUDUSD – Bullish Trend Reversal AUDUSD prices continued to decline after which we can see the resumption of the bullish trend in the markets. We can see that the prices are recovering in the European trading session. We can see the formation of Bullish Trend reversal with the Moving Average MA20 in the weekly timeframe. The prices of AUDUSD are ranging near the support of triangle in the monthly timeframe. We have also seen Bullish opening of the markets this week. The Momentum indicator is back over Zero in the 2-hourly timeframe. AUDUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages. • AUDUSD Bullish Reversal seen above the 0.6590 mark. • Short-term range appears to be Mild Bullish. • AUDUSD continues to remain above the 0.6590 levels. • Average true range ATR is indicating less market volatility. The next resistance is located at 0.6601 which is a 3-10 Day MACD Oscillator Stalls. AUDUSD is now trading just below its Pivot levels of 0.6598 and is moving into a Mild bullish channel. The price of AUDUSD remains above its Classic support levels of 0.6588 and is moving towards its next target of 0.6611 at which the Price Crosses 40 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

GBPUSD Technical Analysis – 17th JUNE, 2024 GBPUSD – Bullish Price Crossover GBPUSD entered into a consolidation phase after which we can see some positive price correction in the levels of Pound in the European Trading session today. We can see the formation of Bullish price crossover pattern with the Moving Average MA20 in the 15-minutes timeframe. The MACD indicator is giving a bearish divergence signal in the weekly timeframe. We have also seen a Bullish opening of the markets this week. The prices of GBPUSD are ranging near the horizontal support in the daily timeframe which is also indicative of the bullish trends. Both the CCI and RSI indicators are giving a bullish divergence signal in the 4-hourly timeframe. GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average. • Pound Bullish Reversal seen above the 1.2656 mark. • Short-term range appears to be Mild Bullish. • GBPUSD continues to remain above the 1.2650 levels. • Average true range ATR is indicating less market volatility. GBPUSD is now trading near to its Pivot levels of 1.266 and is moving into a Mild Bullish channel. The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2673 with further progression towards the 1.2697 which is a 14-3 Day Raw Stochastic at 20%. We are also looking for the breach of the levels of 1.2702 which is a Pivot Point. 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