Daily Market Analysis By FXOpen

Page 22 of 26 FirstFirst ... 122021222324 ... LastLast
Results 211 to 220 of 255

Thread: Daily Market Analysis By FXOpen

  1. #211
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    Daily Market Analysis By FXOpen
    Gold Price and Crude Oil Price Extend Gains



    Gold price started a fresh increase after it tested the $1,780 support. Crude oil price is rising and it is trading above the $65.00 support zone.

    Important Takeaways for Gold and Oil

    • Gold price started a decent increase from the $1,780 support zone against the US Dollar.
    • There was a break above a key bearish trend line with resistance near $1,792 on the hourly chart of gold.
    • Crude oil price started a fresh increase from the $61.50 support zone.
    • There is a major contracting triangle forming with resistance near $68.00 on the hourly chart of XTI/USD.


    Gold Price Technical Analysis



    Gold price formed a strong support base above the $1,780 zone against the US Dollar. As a result, the price started a fresh increase above the $1,785 and $1,790 resistance levels.

    There was a break above a key bearish trend line with resistance near $1,792 on the hourly chart of gold. The price surpassed the 50% Fib retracement level of the downward move from the $1,809 swing high to $1,780 swing low (formed on FXOpen).

    The price is now trading above $1,790 and the 50 hourly simple moving average. An immediate resistance is near the $1,798 and $1,800 levels.

    The 50% Fib retracement level of the downward move from the $1,809 swing high to $1,780 swing low is also near the $1,798 level. A close above the $1,798 and $1,800 levels could open the doors for a steady increase towards $1,820.

    Conversely, the price might correct lower below $1,795. An initial support on the downside is near the $1,790 level and the 50 hourly simple moving average. The first major support is near the $1,780 level.

    A downside break below the $1,780 support zone may possibly spark a sharp decline. In the stated case, the price could test the $1,750 support.

    Read Full on FXOpen Company Blog...
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  2. #212
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    GBP/USD and EUR/GBP Eye Key Upside Break



    GBP/USD started a steady increase above the 1.3700 resistance. EUR/GBP is consolidating gains above the 0.8550 support zone.

    Important Takeaways for GBP/USD and EUR/GBP

    • The British Pound gained pace above the 1.3680 and 1.3700 resistance levels.
    • There was a break above a key bearish trend line with resistance near 1.3720 on the hourly chart of GBP/USD.
    • EUR/GBP started a decent increase and it settled above the 0.8550 pivot level.
    • There is a major bullish trend line forming with support near 0.8565 on the hourly chart.


    GBP/USD Technical Analysis



    The British Pound formed a base above the 1.3620 zone against the US Dollar. As a result, the GBP/USD pair started a steady increase above the 1.3680 resistance zone.

    The pair even broke the 1.3700 resistance and it settled above the 50 hourly simple moving average. There was also a break above a key bearish trend line with resistance near 1.3720 on the hourly chart of GBP/USD.

    The pair is now struggling to clear the 1.3900 resistance barrier. A high is formed near 1.3780 level on FXOpen and the pair is consolidating gains.

    There was a dip to the 23.6% Fib retracement level of the upward move from the 1.3679 swing low to 1.3780 high. The first key support is near the 1.3730 level and the 50 hourly simple moving average.

    It is close to the 50% Fib retracement level of the upward move from the 1.3679 swing low to 1.3780 high. Any more losses could lead the pair towards the 1.3680 support zone. On the upside, an immediate resistance is near the 1.3780 level.

    The main resistance is near the 1.3800 zone. Therefore, a proper break above the 1.3900 resistance could open the doors for a steady increase. The next major resistance for the bulls could be 1.4000. An intermediate resistance is seen near the 1.3950 level.

    Read Full on FXOpen Company Blog...
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  3. #213
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    EUR/USD Gains Momentum, USD/CHF Eyes Upside Break



    EUR/USD started a decent increase and it broke the 1.1800 resistance zone. USD/CHF is rising, but it is facing a major resistance near 0.9185-0.9190.

    Important Takeaways for EUR/USD and USD/CHF

    • The Euro started a fresh increase from well below 1.1700 against the US Dollar.
    • There is a major bullish trend line forming with support near 1.1800 on the hourly chart of EUR/USD.
    • USD/CHF started a fresh increase from the 0.9120 support zone.
    • There was a break above a key bearish trend line with resistance near 0.9165 on the hourly chart.


    EUR/USD Technical Analysis



    The Euro formed a support base above 1.1680 and started a fresh increase against the US Dollar. The EUR/USD pair broke the 1.1750 resistance zone to move into a positive zone.

    The pair even surpassed the 1.1800 resistance zone and it settled above the 50 hourly simple moving average. Finally, there was a spike above the 1.1840 level. A high was formed near 1.1845 on FXOpen before the pair started a downside correction.

    There was a break below the 1.1820 and 1.1810 levels. The pair declined below the 23.6% Fib retracement level of the upward move from the 1.1734 swing low to 1.1845 high.

    It is now consolidating above the 1.1800 support zone. There is also a major bullish trend line forming with support near 1.1800 on the hourly chart of EUR/USD. The next major support is near the 1.1790 level.

    It is near the 50% Fib retracement level of the upward move from the 1.1734 swing low to 1.1845 high. The main support is near the 1.1780 level. A downside break below the 1.1780 support could start another decline.

    On the upside, an initial resistance is near the 1.1820 level. The main resistance is near 1.1850. If there is an upside break above the 1.1850 resistance zone, the price could rise steadily towards the 1.1920 resistance zone.

    Read Full on FXOpen Company Blog...
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  4. #214
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    NO SIGNIFICANT RESISTANCE ON BITCOIN’S PATH TO $100,000



    Bitcoin will continue the rally that started in August, and after successfully breaking through the psychological resistance level of $50,000, it could further grow to reach $100,000 with minimal resistance, says Bloomberg's analyst and strategist Mike McGlone.

    “After enduring a gut-wrenching correction, we see the crypto market more likely to resume its upward trajectory than drop below the 2Q lows. What could stop Bitcoin and Ethereum from achieving record highs in 2H may be the more elusive question. Increasing demand and adoption are facing diminishing supply,” McGlone wrote in his report.

    Meanwhile, JPMorgan analysts have warned the investors about the “frothy-looking” crypto markets and unstable prices over the long term. They have also noted that the factors boosting the BTC price include continued interest from institutional investors and the general public.

    The chart seems to confirm this optimism. An inside bar with low volumes was formed on Saturday, and on Sunday, the price rose paired with increasing volumes. Taking into account the decline in activity typical for a weekend, we see an indication that the market is more interested in rallying than balancing around the 50k level.

    FXOpen Telegram Channel
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  5. #215
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    Eurozone Inflation at 10-Year High Ahead of the September ECB Meeting



    Inflation is running hot all over the world, and the Eurozone could not differ. Ahead of the ECB meeting scheduled this Thursday, the inflation rate in the Euro area reached a 10-year high.

    Unlike the Federal Reserve of the United States, the ECB has only one mandate – price stability. The ECB measures price stability by bringing inflation below but close to 2%. It recently adjusted its target to a more symmetrical one, something similar to the average inflation targeting in the United States.


    But the bottom line is that the ECB only looks at inflation before changing its monetary policy. The Fed, on the other hand, looks at inflation and job creation. Therefore, while inflation is way above the target in the United States, the Fed will not act on rates until the job market recovers. As we saw last Friday, the last NFP report disappointed – the U.S. economy only created one-third the jobs the market expected.
    The Euro Trades with a Bid Tone Ahead of the ECB Meeting

    The common currency, the euro, bounced recently from its lows. The EUR/USD exchange rate is up from below 1.17 and traded briefly above 1.19 after last Friday’s NFP report in the United States.

    Similar to the EUR/USD, the EUR/JPY is in a bullish trend too. It regained the 130 level and trades with a bid tone.

    The market expects that the ECB will signal the removal of its monetary accommodation, and thus the euro is bid against its peers. However, the risk is that the ECB will do nothing and the recent strength in the euro pairs will vanish.

    All in all, an interesting week for financial markets lie ahead. Inflation is a problem in Europe, and the ECB will likely reiterate its view that inflation is transitory. If that is the case, and the ECB does nothing to address inflation fears, the euro bulls will be disappointed.

    FXOpen Blog
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  6. #216
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    NATURAL GAS SETTING NEW RECORDS IN THE US AND EUROPE



    On Monday, September 6, US natural gas futures reached the mark of $4.7 per million Btu. This is the highest index since December 2018.

    Such a hike in gas prices was triggered by Hurricane Ida: production in the Gulf of Mexico is not going according to plan. The demand for home air conditioning is likely to remain as strong, since it will be as hot in early September.

    In Europe, the gas price has climbed even higher due to shortage fears. The threat of shortage stems from the fact that Russia, the largest gas supplier to Europe, has refused to book large volumes of gas pumped through pipelines in Ukraine ahead of the completion of the Nord Stream 2 pipeline.

    From a technical point of view, the chart shows that gas prices have reached the overbought level and the line of the long-term upward channel. This increases the likelihood of a rollback.

    Whether you would like to take a risky position against an uptrend, or wait for a pullback (for example, closer to the strong support of 4.200 or 4.500) to enter a long position at the end of it, FXOpen is ready to be your reliable partner.

    FXOpen Telegram Channel
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  7. #217
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    EUR/USD Could Resume Decline While USD/JPY Aims Higher



    EUR/USD extended its increase before it faced sellers near 1.1910. USD/JPY is rising and it might revisit the 110.40 resistance zone.

    Important Takeaways for EUR/USD and USD/JPY

    • The Euro failed to gain pace above 1.1900 and started a downside correction.
    • There was a break below a major bullish trend line with support near 1.1875 on the hourly chart of EUR/USD.
    • USD/JPY started a fresh increase and it cleared the 110.00 resistance zone.
    • There was a break above a key bearish trend line with resistance near 109.95 on the hourly chart.


    EUR/USD Technical Analysis



    This past week, the Euro saw a steady increase above the 1.1800 zone against the US Dollar. The EUR/USD pair broke the 1.1850 resistance to move into a positive zone.

    The pair even spiked above the 1.1900 level, but it failed to extend gains. A high was formed near 1.1908 on FXOpen before the pair started a fresh decline.

    There was also a break below a major bullish trend line with support near 1.1875 on the hourly chart of EUR/USD. The pair traded as low as 1.1837 and it is now consolidating losses.

    An immediate resistance is near the 1.1855 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.1908 swing high to 1.1837 low. The first key resistance is near the 1.1865 level and the 50 hourly simple moving average.

    The 50% Fib retracement level of the recent decline from the 1.1908 swing high to 1.1837 low is also near 1.1865. A close above 1.1865 could open the doors for a steady increase towards 1.1900.

    If there is no break above 1.1865, the pair might continue to move down. An immediate support is near the 1.1840. The next major support is near 1.1820, below which the pair could drop towards the 1.1750 support in the near term.

    Read Full on FXOpen Company Blog...
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  8. #218
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    AUD/USD and NZD/USD Could Start Fresh Increase



    AUD/USD is forming a base above 0.7345 and it could start a fresh increase. NZD/USD might also start a steady increase above the 0.7135 resistance zone.

    Important Takeaways for AUD/USD and NZD/USD

    • The Aussie Dollar is forming a decent support base near the 0.7350 zone against the US Dollar.
    • There was a break above a key bearish trend line with resistance near 0.7375 on the hourly chart of AUD/USD.
    • NZD/USD is also forming a base above the 0.7075 pivot level.
    • There was a break above a major bearish trend line with resistance near 0.7100 on the hourly chart of NZD/USD.


    AUD/USD Technical Analysis



    After struggling to clear the 0.7470 resistance, the Aussie Dollar started a downside correction against the US Dollar. The AUD/USD pair broke the 0.7400 and 0.7375 support levels to move into a short-term bearish zone.

    The pair even broke the 0.7360 support and the 50 hourly simple moving average. A low was formed near 0.7345 on FXOpen before the pair started a recovery wave. There was a break above the 0.7375 zone and the 50 hourly simple moving average.

    There was also a break above a key bearish trend line with resistance near 0.7375 on the hourly chart of AUD/USD. The pair cleared the 23.6% Fib retracement level of the recent decline from the 0.7468 swing high to 0.7345 low.

    An immediate resistance is near the 0.7390 level. The next major resistance is near the 0.7400 level. It is close to the 50% Fib retracement level of the recent decline from the 0.7468 swing high to 0.7345 low.

    A close above the 0.7400 level could start a steady increase in the near term. The next major resistance could be 0.7450. An initial support on the downside is near the 0.7370 level. The next major support is near the 0.7345 level. If there is a downside break below the 0.7345 support, the pair could extend its decline towards the 0.7300 level.

    Read Full on FXOpen Company Blog...
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  9. #219
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    GBP/USD Eyes More Upsides While GBP/JPY Remains At Risk



    GBP/USD started a fresh increase above the 1.3800 resistance. GBP/JPY seems to be facing a major resistance near the 152.20 and 152.30 levels.

    Important Takeaways for GBP/USD and GBP/JPY

    • The British Pound traded as low as 1.3727 before it started a fresh increase against the US Dollar.
    • There was a break above a major bearish trend line with resistance near 1.3800 on the hourly chart of GBP/USD.
    • GBP/JPY topped near 152.65 and started a downside correction.
    • There is a short-term bullish trend line forming with support near 152.00 on the hourly chart.


    GBP/USD Technical Analysis

    This past week, the British Pound saw a drop below the 1.3820 level against the US Dollar. The GBP/USD pair even broke the 1.3800 and 1.3750 support levels.

    It traded as low as 1.3727 on FXOpen before it started a fresh increase. There was a steady increase above the 1.3750 resistance level. The price surpassed the 1.3800 resistance level and the 50 hourly simple moving average.

    GBP/USD Hourly Chart


    There was also a break above a major bearish trend line with resistance near 1.3800 on the hourly chart of GBP/USD. The pair even climbed above 1.3850 and retested the 1.3880 resistance.

    A high is formed near 1.3888 and the pair is now correcting gains. It traded below the 23.6% Fib retracement level of the recent wave from the 1.3727 low to 1.3887 high. An immediate support is near the 1.3825 level and the 50 hourly simple moving average.

    The next major support is near the 1.3810 level. The 50% Fib retracement level of the recent wave from the 1.3727 low to 1.3887 high is also near 1.3807. If there is a break below the 1.3800 support, the pair could test the 1.3278 support.

    If there are additional losses, the pair could decline towards the 1.3720 level. On the upside, the pair is facing a major resistance near the 1.3880 and 1.3900 levels. A clear break above the 1.3900 resistance could increase the chances of a move towards the 1.4000 resistance.

    Read Full on FXOpen Company Blog...
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  10. #220
    Senior Member FXOpen Trader's Avatar
    Join Date
    Dec 2020
    Posts
    341
    Thanked: 1

    Default

    in ro ham eslah kon:
    Dax Index Adds 10 New Companies Ahead of the German Federal Elections



    September 2021 will remain in history as the month when the German Dax index undergoes the biggest reform in its existence. Starting with September 20th, ten new companies will be added to the Dax index, and so the number of its constituents increases from 30 to 40.

    One of the reasons cited for the change in the Dax is the need to add new companies that reflect the new economy. Truth be said, the Dax had underperformed its peers for some time now. For example, the S&P 500 index outperformed the German Dax index, and so did other indices in the United States.


    The ten companies to be added to the Dax index are “promoted” from the MDAX. MDAX is an index tracking middle-sized businesses in Germany, and by adding the new companies, the number of constituents in the Dax increases, while the one in the MDAX decreases.

    Puma, Zalando, or Airbus, are some of the names known by the general public that will be added to the Dax. Some other ones, not so popular, are equally important – Symrise, Sartorius, Qiagen.

    Will the changes make the Dax index more attractive to investors? It remains to be seen.

    Euro Traders Prepare for the German Federal Elections

    The federal elections in the United States are scheduled on September 26th, and the market participants are aware that this is the main event in the Euro area for the rest of the year. The importance of it cannot be understated – Angela Merkel, the German Chancellor, will not be candidate, as she ends a long-lasting political career.


    With only two weeks until the elections, the SPD, or the socialists, are rising in polls. Olaf Scholz, their leader, is now viewed as the one with the biggest chances to win the German Chancellor position. If the socialists do win, it will mark a change in the German leadership, and the markets embrace for changes in the fiscal space too.

    All in all, an interesting September lies ahead for traders monitoring events in Germany. Because the German economy is the largest in the Eurozone, what happens in Germany will affect the common currency, the euro.

    FXOpen Blog
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

Similar Threads

  1. Daily Market Analysis by FxGrow
    By FxGrow Support in forum Daily Market Analysis
    Replies: 79
    Last Post: 10-14-2015, 04:52 PM
  2. EUR/ USD Daily Market Analysis 10 August
    By Emmafx in forum Daily Market Analysis
    Replies: 0
    Last Post: 08-10-2012, 09:54 AM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Join us