Daily Market Analysis By FXOpen

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  1. #781
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    Daily Market Analysis By FXOpen
    USD down slightly ahead of Fed announcement as interest rates look toward 15 year high


    Today, the Federal Reserve bank in the United States is set to make an announcement regarding another potential interest rate increase, which would represent the latest in a long string of such actions over the past year.

    Should this proceed, it may dampen the enthusiasm of investors, and therefore have a negative effect on the US economy overall.

    However, the US Dollar has remained strong, and when looking at this morning's chart analysts across the world are predicting that the interest rates in the United States may once again be increased.

    As a result, it would perhaps be very understandable to consider the possibility that the US Dollar, which has been has been very strong this year against other major currencies, could perhaps decrease in value rapidly.

    The reality is quite different and the US Dollar has only made a very slight dip against some of its major peers.

    The British Pound was up to the high 1.23 range against the US Dollar early this morning during the London trading session.

    This is because a number of central banks around the world are set to increase interest rates, and during the course of this week it is widely estimated that the combination of central banks in many key nations with developed financial markets economies may increase interest rates to highest levels since the financial crisis, stoking anxiety among some investors that this months bond market rally underestimates evidence of persistent inflation.

    At the end of the 2000s, when the global financial crisis hit and major financial institutions with long heritages began to collapse - notably the high profile and catastrophic demise of Lehman Brothers, and subsequent other disasters such as the bankruptcy of Bear Stearns - the world's oldest investment bank - and nationalization of many large banks such as Barclays, HSBC and Lloyds due to their over-exposure to secured and unsecured credit, as well as the aggressive takeover attempt by Royal Bank of Scotland which resulted in it having to be bailed out by the British taxpayer, the interest rates were at around 5% in the United Kingdom, the Eurozone and the United States.

    Since then, they have been incredibly low across the 2010s, and only in 2021 did they begin to rise again. It is looking likely that they will be up to the 5% mark again.

    Of course, it is still a far cry from the 15% interest rates that were commonplace in the United Kingdom and some other key markets during the early 1990s, which is perhaps remarkable considering the geopolitical circumstances of the past three years, but 5% is a massive increment over the less than 1% many consumers have been used to for many years until 2021.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

  2. #782
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    ETHUSD and LTCUSD Technical Analysis 02nd FEB, 2023


    ETHUSD: Three White Soldiers Pattern Above $1535

    Ethereum was unable to sustain its bearish momentum and after touching a low of 1535 on 30th Jan, the price started to correct upwards against the US dollar crossing the $1650 handle today in the Asian trading session.

    After touching a high of $1694 the prices have retracted due to profit taking by the medium-term investors.

    We have seen a bullish opening of the markets this week.

    We can clearly see a three white soldiers pattern above the $1535 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

    ETH is now trading just below its pivot level of 1665 and moving into a strong bullish channel. The price of ETHUSD is now testing its classic resistance level of 1668 and Fibonacci resistance level of 1673 after which the path towards 1700 will get cleared.

    We have also seen the formation of a Bullish engulfing line in the weekly time frame.

    The price of Ethereum is ranging near the support of the channel in the 15-minute time frame indicating a bullish scenario.

    The relative strength index is at 68.86 indicating a strong demand for Ether and the continuation of the buying pressure in the markets.

    The Williams percent range is indicating an overbought market, which means that the price is expected to decline in the short-term range.

    Most of the technical indicators are giving a strong buy market signal.

    Most of the moving averages are giving a strong buy signal at the current market level of $1666.

    ETH is now trading above both the 100 hourly simple and 100 hourly exponential moving averages.

    • Ether: bullish reversal seen above the $1535 mark
    • Short-term range appears to be strongly bullish
    • ETH continues to remain above the $1650 level
    • The average true range is indicating less market volatility


    Ether: Bullish Reversal Seen Above $1535


    ETHUSD continues to trade higher against the US dollar and bitcoin. The price of Ethereum remains supported above the $1600 level and now we are testing the break of the $1700 handle.

    We can see the formation of a B=bullish price crossover pattern with adaptive moving average AMA20 in the weekly time frame.

    The momentum indicator is back over zero in the daily time frame indicating bullish trends.

    We have also detected the formation of a bullish harami pattern in the 4-hour time frame.

    ETHUSD touched an intraday low of 1633 and an intradayhHigh of 1694 in the Asian trading session today.

    The STOCHRSI is indicating an oversold level, which indicates that the prices will continue to rise in the medium-term range.

    The key support levels to watch are $1594 which is a 14-3 day raw stochastic at 50%, and $1637 at which the price crosses 9-day moving average stalls.

    ETH has increased by 5.88% with a price change of 92.60$ in the past 24hrs and has a trading volume of 9.958 billion USD.

    We can see an increase of 60.00% in the total trading volume in the last 24 hrs which is due to heavy buying seen at lower levels.

    The Week Ahead

    ETH has already made a failed attempt to cross the $1700 level by touching $1694 today. Now we are expecting a retest of the $1700 breach after which the next targets are located at $1800 and $1900 levels.

    At present, the prices are moving in a consolidation channel above the $1650 level.

    We can see the formation of a bullish ascending channel from $1535 towards the $1684 level.

    The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral in present market conditions.

    The resistance zone is located at $1701 which is the pivot point 2nd resistance level and at $1868 which is a 14-day RSI at 80%.

    The weekly outlook is projected at $1800 with a consolidation zone of $1750.

    Technical Indicators:

    The relative strength index, RSI (14): is at 68.86 indicating a BUY

    The moving average convergence divergence, MACD (12,26): is at 21.75 indicating a BUY

    The average directional index: is at 23.83 indicating a BUY

    The rate of price change: is at 22.11 indicating a BUY

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

  3. #783
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    Đại lý t*i khoản Zalo - O789225888 nó rất có *ch với mình, thanks bạn nhiều nhé
    GAPO

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    AUD/USD and NZD/USD Signals Downside Extension


    AUD/USD is correcting gains from the 0.7150 resistance zone. NZD/USD is also declining and reaching an important support at 0.6450.

    Important Takeaways for AUD/USD and NZD/USD

    • The Aussie Dollar started a fresh decline from the 0.7150 resistance against the US Dollar.
    • There was a break below a key bullish trend line with support near 0.7080 on the hourly chart of AUD/USD.
    • NZD/USD also started a downside correction after it failed to clear 0.6540.
    • There is a connecting bullish trend line forming with support near 0.6440 on the hourly chart of NZD/USD.


    AUD/USD Technical Analysis

    The Aussie Dollar gained pace above the 0.7100 resistance zone against the US Dollar. The AUD/USD pair even spiked above the 0.7150 level before the bears appeared.

    The pair traded as high as 0.7157 on FXOpen and started a fresh downside correction. There was a clear move below the 0.7120 and 0.7100 support levels. The pair declined below the 50% Fib retracement level of the upward move from the 0.6983 swing low to 0.7157 high.

    AUD/USD Hourly Chart


    Besides, there was a break below a key bullish trend line with support near 0.7080 on the hourly chart of AUD/USD. The pair is now trading below 0.7080 and the 50 hourly simple moving average.

    On the downside, an initial support is near the 0.7050 level. It is near the 61.8% Fib retracement level of the upward move from the 0.6983 swing low to 0.7157 high. The next support could be the 0.7000 level. If there is a downside break below the 0.7000 support, the pair could extend its decline towards the 0.6940 level.

    On the upside, the AUD/USD pair is facing resistance near the 0.7080 level. The next major resistance is near the 0.7100 level.

    A close above the 0.7100 level could start another steady increase in the near term. The next major resistance could be 0.7150.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

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    Watch FXOpen's January 30 - February 3 Weekly Market Wrap Video

    In this video, FXOpen UK COO Gary Thomson sums up the weeks happenings and discusses the most significant news reports.

    • What CHATGPT means for investors
    • Brent Crude Oil price takes a bashing overnight
    • Markets focus on Bitcoin as volatility takes it to 5-month high
    • The reaction of financial markets to the decision of the Fed


    Watch our short and informative video, and stay updated with FXOpen.


    FXOpen YouTube


    Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

    #fxopen #fxopenyoutube #fxopenuk #weeklyvideo

  8. #788
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    GBP/USD Drops Sharply While EUR/GBP Gains Momentum


    GBP/USD started a fresh decline below the 1.2200 support zone. EUR/GBP is rising and trading above the 0.8920 support zone.

    Important Takeaways for GBP/USD and EUR/GBP

    • The British Pound started a fresh decline from the 1.2400 resistance against the US Dollar.
    • There is a key bearish trend line forming with resistance near 1.2120 on the hourly chart of GBP/USD.
    • EUR/GBP started a steady increase above the 0.8900 and 0.8920 levels.
    • There is a major bullish trend line forming with support near 0.8945 on the hourly chart.


    GBP/USD Technical Analysis

    The British Pound started a major decline from well above the 1.2350 level against the US Dollar. The GBP/USD pair gained pace below the 1.2300 level to move into a bearish zone.

    There was a clear move below the 1.2200 level and the 50 hourly simple moving average. The bears even pumped the price below the 1.2120 level and a low is formed near 1.2031 on FXOpen. It is now consolidating losses and trading below the 1.2100 level.

    GBP/USD Hourly Chart


    On the upside, an initial resistance is near the 1.2100 level. The first major resistance is near the 1.2120 level. It is close to the 23.6% Fib retracement level of the downward move from the 1.2400 swing high to 1.2031 low.

    There is also a key bearish trend line forming with resistance near 1.2120 on the hourly chart of GBP/USD. A clear move above the 1.2120 level could spark a decent increase.

    The next major resistance sits near the 1.2215 level or the 50% Fib retracement level of the downward move from the 1.2400 swing high to 1.2031 low. Any more gains might send the pair towards the 1.2250 resistance zone.

    On the downside, an initial support is near the 1.2030 level. The next major support is near the 1.2000 level. Any more losses could lead the pair towards the 1.1920 support zone.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

  9. #789
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    in ro ham eslah kon:
    British Pound hits the deck as Western markets raise interest rates


    At the end of last week, the much anticipated action from many central banks across the Western world took place, and interest rates were increased once again.

    There were many forecasts during the advent of the interest rate rises which largely focused on the United States Federal Reserve Bank's anticipated rate rise, however the European Central Bank and the Bank of England both conducted interest rate increases at the same time.

    In the United Kingdom, which has been reported to have the least investable provincial economy in Europe, placing it alongside Greece, the effect has been the greatest.

    The British Pound dipped to its lowest point against the US Dollar in over a month, and is currently trading at 1.21.

    This has ended the steady climb in the value of the British Pound which has taken place over the past few weeks, as it hauled itself out of oblivion after many months of declining values during the summer of 2022, ending in November.

    Interest rates in the United Kingdom were raised to 4%, which is not far off the 5% that was predicted by many investment banks in the summer of 2022, whose analysts predicted that by January 2023, interest in the UK would rise to approximately 5% which appeared a grave prediction given their very low position back then which was under 2%.

    Now, at 4%, there is grave concern, and even before this level had been reached, mortgage lenders across the United Kingdom had been removing mortgage products from the market to avoid borrowers being unable to service monthly payments should the interest rates increase to these levels.

    Whilst it may sound alarmist, 4% is nowhere near the 15% interest that was demanded back in 1991 and 1992, but back then borrowing was quite low, and even though that period was considered to be very much a period of austerity, it was recoverable quite quickly.

    Today, borrowing is at a much higher level and mortgage lenders are often exposed to individual borrowings exceeding 500,000 whereas in the early 1990s it was between 10,000 and 20,000. At the end of the 1990s, the average property price rocketed and more than doubled in just one year, and has been rising ever since, but salaries have not kept up with this, hence greater exposure to debt.

    When interest rates were less than 1%, this was not a problem, but now with increasing rates, the cash strapped are finding themselves lumbered with unserviceable repayments.

    London remains a global powerhouse and has its own economy which is still flourishing as it is an influential capital which conducts global business at top level, however the rest of the country is a very different matter.

    Just two weeks ago, the Institute for Public Policy Research, a well recognized think tank, noted that outside London, especially the north of England is fiscally barren. The report stated that only Geece has lower levels of public and private investment in a ranking of Organisation for Economic Co-operation and Development (OECD) countries, and that if it was not for London, the UK would be alongside Greece in its economic performance.

    A very grave set of statistics, which perhaps show why the British Pound showed the biggest decline of any major currency over the past few days despite all of Europe and the United States also having conducted interest rate rises.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

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