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Major Currency Pairs Consolidating after the Release of US Inflation Data The publication of data on the basic consumer price index in the United States contributed to sharp fluctuations in the foreign exchange market. Thus, the EUR/USD currency pair retested the important level of 1.0900, buyers of the GBP/USD pair did not hold 1.2800 as support, and the USD/JPY pair was sandwiched between 148.00 and 147.00. At the same time, commodity currencies reacted more calmly to US inflation data and continue to trade in rather narrow flat corridors. GBP/USD Weak data on industrial production in the UK for January and an increase in the unemployment rate to 3.9% against the forecast of 3.8% did not allow buyers of the pound/dollar pair to develop a full-fledged upward trend. If on the GBP/USD chart the range of 1.2820-1.2800 retains its support status, the price may continue to rise in the direction of 1.3100-1.3000. Cancellation of the upward scenario can be considered when moving below the alligator lines on higher time frames. From the point of view of fundamental analysis, today at 15:30 GMT+3, it is worth paying attention to the publication of data on the producer price index (PPI) in the US for February. Also at the same time, the core retail sales index for the same period will be published. 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 – 13th MAR, 2024 GBPUSD – Bullish Trend Reversal GBPUSD was indecisive today moving in a zigzag pattern after which we can see some fresh bullish confirmations coming into the markets. The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction towards the 1.2838 levels. We can see the formation of Bullish Trend Reversal pattern with Moving Average MA50 in the 1-hourly timeframe. We have also detected the formation of Ichimoku - Bullish crossover: Tenkan & Kijun pattern in the 1-hourly timeframe which is a bullish pattern. The RSI indicator is back over 50 in the 2-hourly timeframe indicating a Bullish tone present in the markets. GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average. Pound bullish reversal seen above the 1.2775 mark. Short-term range appears to be Neutral. GBPUSD continues to remain above the 1.2800 levels. Average true range ATR is indicating high market volatility. GBPUSD is now trading below its Pivot levels of 1.2805 and is moving into a Consolidation channel. The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2813 after which we can see an upwards bullish pressure towards the 1.2851 levels which is a 3-10 Day MACD Oscillator Stalls. Note: 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. For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 13th MAR, 2024 EURUSD – Resistance of Channel is Broken EURUSD continued its bullish momentum today after the consolidation phase and managed to touch a high of 1.0963 in the US trading session after which we can see some consolidation coming into the markets. We are now looking to re-enter the bullish zone after the current wave of consolidation gets over and touch the 1-months high of 1.0980 soon. We can see that the resistance of the channel is broken in the 1-hourly timeframe indicating a bullish tone present in the markets. The Aroon indicator is giving a bullish trend signal in the 4-hourly timeframe. Some of the technical indicators are also giving a neutral tone indicating the presence of the consolidation wave at present in the markets. In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0980 which is a 1-months high. EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. Euro bullish reversal seen above the 1.0920 mark. Short-term range appears to be Neutral. EURUSD continues to remain above the 1.0950 levels. Average true range ATR is indicating high market volatility. The next resistance is located at 1.0975 which is a Price 3 Standard Deviations Resistance. EURUSD is now trading below its Pivot levels of 1.0957 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0942 and is moving towards its next target of 1.0980. Note: 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. For in-depth analysis, please check FXOpen Blog

GBP/USD: Bulls Show Resilience amid Inflation and GDP News Yesterday important data on inflation in the United States was published. It caused a significant spike in volatility in financial markets, even though the values were in line with expectations. CPI in monthly terms: actual = 0.4%, forecast = 0.4%, a month ago = 0.3%, a year ago = 0.4%. And today news came out about UK GDP in monthly terms, which also corresponded to expectations: fact = +0.2%, forecast = +0.2%, a month ago = -0.1%. It is noteworthy that in both cases the first reaction was a fall in the price of GBP/USD, but then a recovery followed — this is a manifestation of the stability of demand. 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.

Today Is an Ethereum Update. ETH/USD Is Above $4,000 An update is scheduled for the Ethereum network today, approximately at 16:55 GMT+3. The update is called Dencun and is the biggest code change since April 2023, when the Shapella update was implemented. Dencun aims to reduce fees on the growing array of ancillary networks running on top of Ethereum, called layer 2 (L2) “aggregates.” The changes involve “proto-dunksharding” technology, which is intended to improve the blockchain’s ability to process data from L2 networks. It is believed that the implementation of the update will give impetus to the development of projects built on auxiliary networks. On the other hand, there is a risk of failures. Although it is worth noting that Dencun was deployed three times on test networks, and each time there were no problems. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Market Analysis: GBP/USD Recovers While EUR/GBP Aims More Upsides GBP/USD is attempting a fresh increase from the 1.2745 zone. EUR/GBP is gaining pace and might extend its rally above the 0.8550 zone. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is attempting a recovery above the 1.2780 zone against the US Dollar. There was a break above a key bearish trend line with resistance at 1.2790 on the hourly chart of GBP/USD at FXOpen. EUR/GBP started a fresh increase above the 0.8535 resistance zone. There is a major bullish trend line forming with support near 0.8535 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 1.2890 zone. The British Pound traded below the 1.2820 zone against the US Dollar. A low was formed near 1.2746 and the pair is now attempting a recovery wave. There was a break above the 23.6% Fib retracement level of the downward move from the 1.2893 swing high to the 1.2746 low. There was a break above a key bearish trend line with resistance at 1.2790, but the pair is still below the 50-hour simple moving average. On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2800. The next major resistance is near the 1.2820 level or the 50% Fib retracement level of the downward move from the 1.2893 swing high to the 1.2746 low. If the RSI moves above 50 and the pair climbs above 1.2820, there could be another rally. In the stated case, the pair could rise toward the 1.2890 level or even 1.2920. On the downside, there is a major support forming near 1.2745. If there is a downside break below the 1.2745 support, the pair could accelerate lower. The next major support is near the 1.2700 zone, below which the pair could test 1.2665. Any more losses could lead the pair toward the 1.2550 support. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Eduardo Soares Bogosian Returns for ForexCup Championship Season 4 Hi there, We are thrilled to announce the return of Eduardo Soares Bogosian from Brazil to the ForexCup Trading Championship for its fourth season. Eduardo, who clinched third place in the inaugural season of the Championship in 2021, is set to make a comeback, aiming to build on his past success. The ForexCup team extends a warm welcome back to Eduardo and wishes him the best as he embarks on this new journey. His return is a testament to the championship's competitive spirit and the continuous pursuit of excellence by its participants. Will his strategies and insights from past experiences propel him to the top of the standings once again? Only time will tell. Stay tuned for updates on Eduardo's journey and the unfolding of the ForexCup Trading Championship Season 4. Enroll in FTC 2024 Best Regards, Sergey Shirko Instagram #fxopen #fxopenint 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.

The US Currency Is Consolidating ahead of the Release of Inflation Data A rather weak US employment report published last week contributed to the US dollar's decline in almost all areas. Thus, the USD/JPY pair lost more than 150 pp in just a couple of hours, the pound/US dollar pair tested important resistance at 1.2900, and euro/US dollar buyers managed to strengthen above 1.0900. USD/JPY The weak fundamentals from the US are bolstering investor confidence that the Fed will begin cutting interest rates later this year. And although recent statements by the head of the American regulator, Jerome Powell, can hardly be called dovish, market participants prefer short-term sales of greenbacks. The USD/JPY currency pair fell to 146.50 at the end of last week. Yesterday, buyers of the pair managed to return the price above 147.00, but the full development of an upward correction has not yet been observed. If the pair manages to consolidate above 148.00, the price may test resistance at the alligator lines on the weekly timeframe near the range of 149.50-149.00. An update to the recent low on the USD/JPY chart could trigger a collapse to the extremes of the current year at 146.00-145.80. Today's news on the basic US consumer price index for February will be important for the pair's pricing. 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.

Australian Dollar Volatility Ends in Lull Ahead Of US Data The Australian Dollar has recently been displaying signs of volatility, with its price varying considerably against the US Dollar over the past few months. From a low point in October last year, the AUDUSD pair went on a sudden rally, which lasted until December before beginning to fall flat during the course of January. As February drew to a close, the AUDUSD pair began to rise in value again, reaching 0.66251 on March 4, according to FXOpen charts. Over the past week, the Australian Dollar has been a bit dormant in its movements against the US Dollar; however, this morning's trading session in Australia and across the Asian market session began to demonstrate that some renewed interest is beginning to be shown in the Australian Dollar as the Australian economy begins to look a bit stronger. This morning as the European markets begin to open, activity from the Australian market is being analysed and one matter of interest is that the Australian S&P index along with the ASX 200 which is an index featuring 200 well capitalised stocks on Australia's ASX exchange, showed improvement over previous performances which is being mooted as a potential strengthening factor for the Australian Dollar. Today in Australia, financial services executives have held meetings to discuss the GDP within Australia for the fourth quarter of 2023, with nothing out of the ordinary having surfaced and data in line with expectation; however, there is anticipation regarding the forthcoming monetary policy announcements from the US Federal Reserve which may affect the value of the AUDUSD, and forthcoming CPI data in the United States for February looks set to meet expectations at 3.1, identical to that for January. 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 – 12th MAR, 2024 GBPUSD – Moving Average Bullish Crossover GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.282 we saw downwards retracement towards the low of 1.2776 formed today in the European trading session. The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction. The RSI indicator is back over 50 in the 4-hourly timeframe indicating a bullish trend present in the markets. The prices of GBPUSD are ranging near horizontal support in the 1-hourly timeframe. We can see the formation of Moving Average bullish crossovers with MA20 and MA50 in the daily timeframe. GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average. Pound bullish reversal seen above the 1.2749 mark. Short-term range appears to be Neutral. GBPUSD continues to remain above the 1.2780 levels. Average true range ATR is indicating less market volatility. GBPUSD is now trading below its Pivot levels of 1.2794 and is moving into a Consolidation channel. The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2803 after which we can see an upwards bullish pressure towards the 1.2835 levels which is a 14-3 Day Raw Stochastic at 80%. Note: 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. For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 12th MAR, 2024 EURUSD – Bullish Price Crossover EURUSD continues to move into a consolidation channel having touched a high of 1.0938 after which we can see some minor correction downwards towards a low of 1.0921 levels. The prices of EURUSD are looking to enter into a bullish channel with the formation of Bullish price crossover pattern in both the 15-minutes and 1-hourly timeframes. We can see the formation of Parabolic SAR indicator bullish reversal pattern in the 30-minutes timeframe. The MACD crosses UP its Moving Average in the 15-minutes timeframe. We have also seen the formation of Bullish Harami pattern in the daily timeframe. In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0969 which is a 38.2% Retracement From 13 Week High. EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. Euro bullish reversal seen above the 1.0915 mark. Short-term range appears to be Neutral. EURUSD continues to remain above the 1.0900 levels. Average true range ATR is indicating less market volatility. The next resistance is located at 1.0969 which is a 38.2% Retracement From 13 Week High. EURUSD is now trading below its Pivot levels of 1.0931 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0928 and is moving towards its next target of 1.0969. Note: 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. For in-depth analysis, please check FXOpen Blog

A Weak Dollar Is the Driver of Price Records for NASDAQ-100, BTC/USD, XAU/USD Financial market participants expect an easing of the Fed's monetary policy. The prospect of lower rates puts pressure on the value of the dollar, which in turn pushes up dollar-denominated assets. This contributed to the setting of record highs: → The price of BTC/USD exceeded 70k dollars per bitcoin → The price of XAU/USD exceeded USD 2,200 per ounce of gold → The NASDAQ-100 index reached 18,400 points. But are markets too optimistic? Let's see what the technical analysis of the NASDAQ-100 chart shows today: → The price is in an uptrend (shown in blue), which has been in effect since the beginning of the year. The price is in the upper half, which may indicate the strength of demand. → Top C only slightly exceeded the level of the previous top A. It is not surprising that a bearish divergence has formed on the oscillators — Awesome Osc among them. Buyers who entered long positions at the breakout of top A found themselves in a trap. Sellers who held stops above A lost their positions. 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 – 11th MAR, 2024 GBPUSD – Resistance of Channel is Broken GBPUSD was unable to sustain its bullish momentum and after touching a high of 1.2883 we saw downwards retracement towards the low of 1.2795 formed today in the US trading session. The prices of Pound are expected to enter into a consolidation zone after which we can see some upwards correction. We can see that the Resistance of the channel is broken in the daily timeframe indicating a bullish trend present in the markets. We have also seen a bullish opening of the markets this week. We can see the formation of Bullish trend as the prices of GBPUSD are ranging near horizontal support in both the 15-minutes and 1-hourly timeframes. GBPUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving average. Pound bullish reversal seen above the 1.2700 mark. Short-term range appears to be Neutral. GBPUSD continues to remain above the 1.2800 levels. Average true range ATR is indicating high market volatility. GBPUSD is now trading below its Pivot levels of 1.2805 and is moving into a Consolidation channel. The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2830 which is a 14-3 Day Raw Stochastic at 80%. Note: 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. For in-depth analysis, please check FXOpen Blog

EURUSD Technical Analysis – 11th MAR, 2024 EURUSD – Bullish Trend Reversal EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0980 on 8th March we saw downwards retracement towards the lows of 1.0914 seen today in the US trading session. We can see that the prices of Euro have now stabilized and are looking to enter into a consolidation zone after which we can see some upwards recovery. We can see the formation of Bullish Trend reversal pattern in both the 15-minutes and weekly timeframes. The MACD crosses UP its Moving Average in the weekly timeframe. The prices of EURUSD are ranging near the support of the triangle in the weekly timeframe indicating the bullish nature of the markets. In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0959 which is a 61.8% Retracement from the 52 Week Low. EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages. Euro bullish reversal seen above the 1.0870 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 1.0969 which is a 38.2% Retracement From 13 Week High. EURUSD is now trading below its Pivot levels of 1.0923 and is moving into a Consolidation channel. The price of EURUSD remains above its Classic support levels of 1.0917 and is moving towards its next target of 1.0959. Note: 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. For in-depth analysis, please check FXOpen Blog

US Dollar Ended the Week under Pressure The February labour market report was published in the United States. The number of new jobs created by the national economy outside the agricultural sector increased by 275.0k in January after an increase of 229.0k a month earlier, while experts expected an increase of 200.0k. It should also be noted that the January figure was revised from the previous estimate of 353.0k jobs. The average hourly wage in annual terms adjusted from 4.4% to 4.3%, and in monthly terms, from 0.5% to 0.1%. At the same time, the unemployment rate in February increased sharply from 3.7% to 3.9%. EUR/USD The EUR/USD pair shows mixed dynamics, remaining close to 1.0940. Immediate resistance can be seen at 1.0980, a break higher could trigger a rise towards 1.1100. On the downside, immediate support is seen at 1.0887, a break below could take the pair towards 1.0842. Market activity remains subdued as investors analyse macroeconomic data released last week. On Friday, March 8, trading participants drew attention to the decline in the annual dynamics of industrial production in Germany in January by 5.5% after -3.5% in the previous month, and in monthly terms the figure strengthened by 1.0% after a reduction of 2 .0% in December against a forecast of 0.6%, which allows the German economy to emerge from recession in the near future. The German producer price index added 0.2% monthly after -0.8% in December, and slowed down by 4.4% year-on-year after -5.1%, while markets were expecting -6.6%. Trading participants also assessed statistics on the eurozone GDP product for the fourth quarter of 2023: on a quarterly basis, the figure remained at 0.0%, and on an annual basis it increased by 0.1%, which coincided with expectations. Technical analysis of the EUR/USD pair shows that a new upward channel has formed at the highs of last week. Now the price is near the lower border and may continue to rise. 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 rally is over! NASDAQ leads US stock market declines The halcyon days of US tech stock rallies with increasing values of companies listed on the NASDAQ exchange, which have taken place alongside the increasing values of other North American indices, have ended abruptly. The past few weeks have been of great interest, with the NASDAQ index leading the charge toward a seemingly unrelenting increase in value as confidence in large companies developing AI technology, such as NVIDIA, well known for its graphics cards and now highly engrossed in AI development, as well as strong performance from specialist American firms such as Broadcom and cloud computing giant Cloudstrike Holdings which have led the rally well into March. As well as the NASDAQ index having tailed off, other US stock indices have experienced similar decrements. The tables turned quite significantly at the end of last week; however, when the NASDAQ index began to reduce in value, the all-time highs of last week were not replicated this week. On Friday, the NASDAQ index was trading at 18,273.8 according to FXOpen pricing; however, as market participants anticipate the opening of the US market today, the tech-friendly index is valued at 17,975.7 at the bottom of the candlestick in the pre-market opening hours. In keeping with the nature of US tech stocks, volatility is once again a subject of discussion across mainstream reports and among analysts, especially given that one of the contingents of the NASDAQ index that was contributing to its rally, NVIDIA, has experienced a decline in stock value by 5.5%, according to some media reports, during the course of Friday last week after a substantial rally that has seen it gain approximately 80% year to date. 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.

EUR/USD Hits 8-week High The euro is trading above USD 1.09, hitting its strongest point since mid-January on Friday, helped by news from both the US and Europe. Friday's news showed that the US labor market is weakening: → The change in employment in the non-farm sector showed an increase in jobs = 275k for the month, although last month it was = +353k. → The unemployment rate rose to 3.9%, although it was 3.7% for 3 months. News of a weakening labour market could put pressure on the Fed to ease monetary policy. Meanwhile in Europe, the ECB kept borrowing costs at a record high, citing significant progress in containing inflation, and revised its inflation expectations downward, forecasting price growth of 2.3% in 2024, and 1.9% in 2025. And during a press conference last Thursday, ECB President Lagarde told reporters that policymakers had not discussed rate cuts at that meeting. Thus, there is reason to believe that the Fed will start lowering rates earlier (it started raising them earlier than the ECB). And this assumption is shared by many market participants, judging by the bullish dynamics in the EUR/USD market. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Market Analysis: AUD/USD and NZD/USD Start Fresh Rally AUD/USD is gaining pace and recently cleared 0.6600. NZD/USD is also rising and could extend its increase above the 0.6200 resistance zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar is moving higher from the 0.6480 zone against the US Dollar. A connecting bullish trend line is forming with support at 0.6615 on the hourly chart of AUD/USD at FXOpen. NZD/USD is gaining pace above the 0.6155 support. A key bullish trend line is 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 formed a base above 0.6480, as discussed in the previous analysis. The Aussie Dollar gained strong bids and started a decent increase above the 0.6540 resistance against the US Dollar. The bulls pushed the pair above the 0.6580 resistance zone. There was a close above the 0.6600 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6635 zone. A high is formed at 0.6633 and the pair is now consolidating above 23.6% Fib retracement level of the upward move from the 0.6477 swing low to the 0.6633 high. On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6635. The first major resistance might be 0.6650. An upside break above the 0.6650 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 0.6800 resistance zone. If not, the pair might correct lower. Immediate support is near a connecting bullish trend line at 0.6615. The next support could be 0.6595. If there is a downside break below the 0.6595 support, the pair could extend its decline toward the 0.6580 zone. Any more losses might signal a move toward the 61.8% Fib retracement level of the upward move from the 0.6477 swing low to the 0.6633 high at 0.6540. 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 4 - 8 March Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: CHF, CAD, GOLD, 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.. Swiss Franc Weakens after Inflation News #CHF USD/CAD Analysis: Canadian Dollar Strengthens after Bank of Canada Decision #USDCAD #CAD The Price of Gold XAU/USD Sets a Historical Record Exceeding $2160 per Ounce #XAUUSD #Gold TSLA Stock Price Falls Over 9% in Just 2 Days #TSLA #teslastock 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

USD/CAD Analysis: Canadian Dollar Strengthens after Bank of Canada Decision The Bank of Canada has decided to keep interest rates at 5.0% for the fifth time in a row, it announced yesterday, as it continues to look for clearer signs that inflation is moving closer to the bank's 2% target before considering rate cuts. According to Bank of Canada Governor Tiff Macklem: → the Bank is concerned that underlying inflationary pressures remain. → It is too early to ease restrictive policies. There is a clear consensus within the Board of Governors that the time has not come (for rate cuts). → We are now in a difficult phase of the monetary cycle. These hawkish statements contributed to the Canadian dollar strengthening against other currencies, in particular against 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 Gold XAU/USD Sets a Historical Record Exceeding $2160 per Ounce The previous high was around USD 2,135, but gold rose above USD 2,160 an ounce this morning, reaching its highest level ever, as Treasury yields weakened on hopes that the US Federal Reserve will soon begin cutting interest rates. In a speech yesterday, the Fed chief offered no clarity, saying it would likely be appropriate to ease policy restrictions "at some point this year." Traders now see a 70% chance of a Fed rate cut in June. Technical analysis of the XAU/USD chart shows that: → the price of gold is in an ascending channel (shown in blue); → after a false breakout of its lower border, the price confidently overcame the downward trend line (shown in red) and resistance 2,090; → a strong upward impulse led to the RSI indicator entering the extreme overbought zone. 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.

TSLA Stock Price Falls Over 9% in Just 2 Days The day before yesterday, trading in TSLA shares began at an opening price of USD 199.34; trading yesterday closed at a price of USD 180.51. The fall in TSLA shares led Musk to lose the title of the world's richest man to Jeff Bezos. The main driver of the decline in the price of TSLA shares was news: → about the temporary shutdown of the Giga Berlin plant in Germany after an arson set by a group claiming that the company led by Elon Musk is devouring “land, resources, people”; → that deliveries of electric cars from the Shanghai plant have dropped to their lowest level in more than a year — which may indicate fierce competition with Chinese manufacturers. It also became known that Morgan Stanley analyst Adam Jonas is lowering his target price from USD 345 to USD 320 and predicting a decline in sales for FY24. VIEW 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.

After Updating the Historical High, the Price of Bitcoin Collapsed by 14% Bitcoin's previous all-time high price, recorded on November 10, 2021, was around USD 68,900 per coin (depending on exchanges). But yesterday, the price of Bitcoin exceeded 69k! However, the jubilation from the new historical peak quickly gave way to fear — as the BTC/USD rate began to fall rapidly. From peak A to low B – the price traveled a path of more than -14% in just 5 hours. These events highlight 2 characteristic features of the cryptocurrency market: → Excessive volatility, which is not typical for the stock and foreign exchange markets. For comparison: on October 19, 1987 — Black Monday — the S&P 500 index fell by about 20.5%. After this incident, there were no days when the drop exceeded 14%. → Emotionality of the market and the importance of psychological levels. At these levels, the price of Bitcoin often makes false punctures. Yesterday, there were 2 such punctures: a false bullish puncture of the 2021 top, and a false bearish puncture of the round level of 60k dollars for Bitcoin. VIEW 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: EUR/USD Eyes More Gains, USD/CHF Could Rally EUR/USD started a fresh increase above the 1.0828 resistance. USD/CHF declined and now struggling below the 0.8860 resistance. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro rallied after it broke the 1.0828 resistance against the US Dollar. There is a connecting bullish trend line forming with support near 1.0845 on the hourly chart of EUR/USD at FXOpen. USD/CHF declined below the 0.8860 and 0.8850 support levels. There is a key contracting triangle forming with resistance near 0.8850 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0800 zone. The Euro cleared the 1.0828 resistance to move into a bullish zone against the US Dollar, as mentioned in the previous analysis. The bulls pushed the pair above the 50-hour simple moving average and 1.0855. Finally, the pair tested the 1.0875 resistance. A high was formed near 1.0876 and the pair is now consolidating gains. There was a move below the 23.6% Fib retracement level of the upward wave from the 1.0798 swing low to the 1.0876 high. Immediate support on the downside is near a connecting bullish trend line at 1.0845. The next major support is the 50% Fib retracement level of the upward wave from the 1.0798 swing low to the 1.0876 high at 1.0838. A downside break below the 1.0838 support could send the pair toward the 1.0800 level. Any more losses might send the pair into a bearish zone to 1.0765. Immediate resistance on the EUR/USD chart is near the 1.0855 zone. The first major resistance is near the 1.0875 level. An upside break above the 1.0875 level might send the pair toward the 1.0920 resistance. The next major resistance is near the 1.0940 level. Any more gains might open the doors for a move toward the 1.1000 level. VIEW 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 Rally Shows Tech Stocks Are Back in Focus - But for How Long? The NASDAQ index, well known as a premier listing venue for North American technology companies across the entire spectrum from the Silicon Valley giants to recently listed newcomers, has been going from strength to strength during the beginning part of this year. At the beginning of January, the NASDAQ was resting at a relatively low point in the mid-16,300 range and has since risen to 18,318.7 at the high points of the trading day in New York yesterday, according to FXOpen pricing. This is a considerable increase, and apart from a few small dips along the way, it has been consistent for the majority of the first quarter of the year so far. Yesterday's trading was of great interest to those with a keen penchant for US tech stocks, as the NASDAQ's high point of 18,318.7 represented an all-time record for the index, clearly demonstrating that these days, there is a clear distinction between enthusiasm among traders for NASDAQ-listed companies compared to two years ago when there was a sustained period of low value across NASDAQ listed stocks. Those times are gone, and the halcyon days are back. However, the euphoria subsided slightly as the trading day came to a close yesterday during the US session, as the NASDAQ, despite a rallying group of technology stocks tied to the artificial intelligence boom keeping the values high, began to make a slight climbdown from its historic high. Trading will begin today with the NASDAQ index standing at 18,129.1 according to the bottom of the candlestick on FXOpen charts, which is still high compared to the entire history of the NASDAQ index apart from the levels it reached during yesterday's trading. VIEW 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.