FXOpen's January 9 - 13 Weekly Market Wrap Video
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/T59vsQJd0lc
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/T59vsQJd0lc
YouTube
FXOpen Weekly Market Wrap With Gary Thomson : GBP/USD and GBP/JPY, FTSE 100, FIN MARKET SHAKE-UP
Watch FXOpen's January 9 - 13 Weekly Market Wrap Video
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- Major events of the coming days
- GBP/USD and GBP/JPY aim higher
- FTSE 100…
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- Major events of the coming days
- GBP/USD and GBP/JPY aim higher
- FTSE 100…
🔥1
FXOpen official pinned «FXOpen's January 9 - 13 Weekly Market Wrap Video On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.…»
Trading Hour Schedule for HK Lunar New Year Holiday
Dear Traders,
Please be aware of the trading schedule changes for the HK Lunar New Year holiday period between 20 January and 26 January 2023 (all times are GMT+2):
Friday, January 20
Indices CFD:
Hong Kong 50 (#HSI) - till 21:00.
January 23-25
Indices CFD:
Hong Kong 50 (#HSI) - trading closed.
Thursday, January 26
Indices CFD:
Hong Kong 50 (#HSI) - starts at 03:15.
All other financial markets will be traded as usual.
Dear Traders,
Please be aware of the trading schedule changes for the HK Lunar New Year holiday period between 20 January and 26 January 2023 (all times are GMT+2):
Friday, January 20
Indices CFD:
Hong Kong 50 (#HSI) - till 21:00.
January 23-25
Indices CFD:
Hong Kong 50 (#HSI) - trading closed.
Thursday, January 26
Indices CFD:
Hong Kong 50 (#HSI) - starts at 03:15.
All other financial markets will be traded as usual.
👍1
#MarketNews
AUSSIE BREAKS KEY 0.7 LEVEL
For the first time since August 2022, the Aussie is trading above the psychological 0.7 mark against the USD.
This became possible after it became known last week that inflation in the US is showing signs of cooling. So investors are becoming increasingly convinced that the Fed is nearing the end of its rate hike cycle and that US rates will not be as high as previously feared.
Will the Australian dollar appreciate further against the USD?
It is worth noting that the AUDUSD market is now vulnerable to a reversal from a technical point of view because:
→ firstly, the rate is near the resistance line (1) of the downtrend channel;
→ secondly, we can become witnesses of the “false breakdown of the psychological level” pattern. It is based on the fact that market participants pay special attention to the levels with “round figures” (2), opening positions to continue the trend after they are broken. But then they are trapped.
To take advantage of trends in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
AUSSIE BREAKS KEY 0.7 LEVEL
For the first time since August 2022, the Aussie is trading above the psychological 0.7 mark against the USD.
This became possible after it became known last week that inflation in the US is showing signs of cooling. So investors are becoming increasingly convinced that the Fed is nearing the end of its rate hike cycle and that US rates will not be as high as previously feared.
Will the Australian dollar appreciate further against the USD?
It is worth noting that the AUDUSD market is now vulnerable to a reversal from a technical point of view because:
→ firstly, the rate is near the resistance line (1) of the downtrend channel;
→ secondly, we can become witnesses of the “false breakdown of the psychological level” pattern. It is based on the fact that market participants pay special attention to the levels with “round figures” (2), opening positions to continue the trend after they are broken. But then they are trapped.
To take advantage of trends in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
👍1
#MarketNews #Cryptocurrency #BTC
BITCOIN FIXES ABOVE $20K
As a result of the January rally, the price of bitcoin returned to the range above $20k per coin, in which it was before the news of the bankruptcy of the FTX exchange brought down the cryptocurrency market in November. Note that the rally occurred against the backdrop of media reports about the discovery of about $ 5billion in funds from FTX exchange clients.
The explosive growth of BTCUSD January (1) 2023 resembles April 2019 (2).
In both cases, the price rose after a period of being within the narrowing triangle (shown in yellow), and then accelerated, breaking through the downtrend lines (shown in blue with some subjectivity).
Will the rally continue in 2023 (as it was in 2019)?
Here are 3 factors to consider:
→ The current price is at the resistance level near 21400 (November tops) – it is already exerting pressure, as the rally of the last days has stopped.
→ Also, the price of bitcoin will probably be affected (if it takes place) by the increase in the market of the dollar index, the oversold of which is indicated by a number of indicators on the daily chart.
→ It is possible that bitcoin will gain momentum on the news from Davos. The annual economic forum opens today, January 16th.
The ability of Bitcoin to hold the highs reached will give more arguments to argue that cryptocurrencies are ready for a new large-scale rally.
To take advantage of trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
BITCOIN FIXES ABOVE $20K
As a result of the January rally, the price of bitcoin returned to the range above $20k per coin, in which it was before the news of the bankruptcy of the FTX exchange brought down the cryptocurrency market in November. Note that the rally occurred against the backdrop of media reports about the discovery of about $ 5billion in funds from FTX exchange clients.
The explosive growth of BTCUSD January (1) 2023 resembles April 2019 (2).
In both cases, the price rose after a period of being within the narrowing triangle (shown in yellow), and then accelerated, breaking through the downtrend lines (shown in blue with some subjectivity).
Will the rally continue in 2023 (as it was in 2019)?
Here are 3 factors to consider:
→ The current price is at the resistance level near 21400 (November tops) – it is already exerting pressure, as the rally of the last days has stopped.
→ Also, the price of bitcoin will probably be affected (if it takes place) by the increase in the market of the dollar index, the oversold of which is indicated by a number of indicators on the daily chart.
→ It is possible that bitcoin will gain momentum on the news from Davos. The annual economic forum opens today, January 16th.
The ability of Bitcoin to hold the highs reached will give more arguments to argue that cryptocurrencies are ready for a new large-scale rally.
To take advantage of trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
#ChinaMarketNews
CHINA'S STOCK MARKET OUTLOOK
According to CNBC, economists are improving forecasts for China amid the lifting of restrictions and positive incoming data.
The Chinese economy grew by around 3% in 2022 (the worst result in almost 50 years), although 5% was planned. Perhaps the authorities now want to catch up. BABA shares have risen by around 95% from their October low amid easing pressure on Chinese technology companies by the government.
According to Barclays Research:
→ the country has lifted most restrictions, including monitoring and testing;
→ official statistics no longer reflect disease outbreaks;
→ the policy is unlikely to change, even if mortality rates increase.
Interestingly, according to media reports, Janet Yellen and Chinese Vice Premier Liu He are scheduled to meet in Zurich on January 18. Perhaps tensions in US-China trade relations will ease and that will put less pressure on equities.
Are Chinese stocks worth buying?
There is a chance that the rapid growth could slow down. Many indicators point to an overbought market. Also, if one looks at the chart of EWH (Hong Kong Equity Fund), it is noticeable that the price has reached the 50% level of the 2021-2022 decline. This actualises the correction scenario.
To benefit from price movements in Alibaba, EWH and other financial instruments - take advantage of FXOpen, a reliable broker.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
CHINA'S STOCK MARKET OUTLOOK
According to CNBC, economists are improving forecasts for China amid the lifting of restrictions and positive incoming data.
The Chinese economy grew by around 3% in 2022 (the worst result in almost 50 years), although 5% was planned. Perhaps the authorities now want to catch up. BABA shares have risen by around 95% from their October low amid easing pressure on Chinese technology companies by the government.
According to Barclays Research:
→ the country has lifted most restrictions, including monitoring and testing;
→ official statistics no longer reflect disease outbreaks;
→ the policy is unlikely to change, even if mortality rates increase.
Interestingly, according to media reports, Janet Yellen and Chinese Vice Premier Liu He are scheduled to meet in Zurich on January 18. Perhaps tensions in US-China trade relations will ease and that will put less pressure on equities.
Are Chinese stocks worth buying?
There is a chance that the rapid growth could slow down. Many indicators point to an overbought market. Also, if one looks at the chart of EWH (Hong Kong Equity Fund), it is noticeable that the price has reached the 50% level of the 2021-2022 decline. This actualises the correction scenario.
To benefit from price movements in Alibaba, EWH and other financial instruments - take advantage of FXOpen, a reliable broker.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
#MarketNews
A NEW SURGE IN LIQUIDATIONS COULD TRIGGER A FURTHER RISE IN BTCUSD
As graph (1) shows, in just one day on January 14, almost half a billion dollars worth of positions were liquidated (forced closed) on cryptocurrency exchanges.
This may explain the parabolic growth trajectory of BTCUSD. So far, the price of bitcoin is holding near the resistance line (2) of the parallel ascending channel. Closing the positions of "shortists" increases the pressure of demand.
Also at the current price level there is an important peak (3), formed in autumn. It is possible that if a bullish breakout of the top occurs, another cascade of liquidation of short positions will occur, which can bring the price of bitcoin to the tops of the summer.
To take advantage of trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
A NEW SURGE IN LIQUIDATIONS COULD TRIGGER A FURTHER RISE IN BTCUSD
As graph (1) shows, in just one day on January 14, almost half a billion dollars worth of positions were liquidated (forced closed) on cryptocurrency exchanges.
This may explain the parabolic growth trajectory of BTCUSD. So far, the price of bitcoin is holding near the resistance line (2) of the parallel ascending channel. Closing the positions of "shortists" increases the pressure of demand.
Also at the current price level there is an important peak (3), formed in autumn. It is possible that if a bullish breakout of the top occurs, another cascade of liquidation of short positions will occur, which can bring the price of bitcoin to the tops of the summer.
To take advantage of trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
#MarketNews
THE PROBABILITY OF A REVERSAL OF THE DOLLAR INDEX IS GROWING
As the chart on the left shows, the dollar index futures fell to the level (1) of a 50% pullback from the amount of growth that began in 2021 and ended in the fall of 2022. Technically, this means that the price of the contract has reached the expected support level.
The chart on the right shows a pin bar (2) with a long lower shadow, which is interpreted as a bullish signal. Thus, technical analysts receive confirmation that the 50% level is taking effect.
The reason for the formation of the pin-bar is weak data on the US economy. Yesterday it became known that retail sales decreased by 1.1%. It also pulled the stock markets down. It looks like recession fears are growing and the “cash is king” idea that dominated 2022 is making a comeback.
To take advantage of trends in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
THE PROBABILITY OF A REVERSAL OF THE DOLLAR INDEX IS GROWING
As the chart on the left shows, the dollar index futures fell to the level (1) of a 50% pullback from the amount of growth that began in 2021 and ended in the fall of 2022. Technically, this means that the price of the contract has reached the expected support level.
The chart on the right shows a pin bar (2) with a long lower shadow, which is interpreted as a bullish signal. Thus, technical analysts receive confirmation that the 50% level is taking effect.
The reason for the formation of the pin-bar is weak data on the US economy. Yesterday it became known that retail sales decreased by 1.1%. It also pulled the stock markets down. It looks like recession fears are growing and the “cash is king” idea that dominated 2022 is making a comeback.
To take advantage of trends in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Trading hours on Australia Day
Dear Traders,
Please be aware of the trading schedule changes for Australia Day observed on January 26th (all times are GMT+2):
Wednesday, January 25
Indices CFD:
Australia 200 (#AUS200) - till 23:00.
Thursday, January 26
Indices CFD:
Australia 200 (#AUS200) - starts at 08:10.
All other financial markets will be traded as usual.
https://fxopen.com/en/news/trading-hours-on-australia-day-2023/?utm_source=fxopen_forum&utm_medium=news&_ga=2.205254608.1581017307.1674113570-1153730326.1648474056
Dear Traders,
Please be aware of the trading schedule changes for Australia Day observed on January 26th (all times are GMT+2):
Wednesday, January 25
Indices CFD:
Australia 200 (#AUS200) - till 23:00.
Thursday, January 26
Indices CFD:
Australia 200 (#AUS200) - starts at 08:10.
All other financial markets will be traded as usual.
https://fxopen.com/en/news/trading-hours-on-australia-day-2023/?utm_source=fxopen_forum&utm_medium=news&_ga=2.205254608.1581017307.1674113570-1153730326.1648474056
#MarketNews
THE US NATIONAL DEBT HAS REACHED THE CEILING. WHAT DOES THIS MEAN FOR INVESTORS?
The White House refused to discuss with the US Congress the terms of increasing the national debt. The Ministry of Finance will spend previously accumulated reserves, which should last until June 5. Emergency measures have also been introduced - the work of two federal pension funds has been suspended.
What does this mean for investors? So far, no big deal. But in the worst case scenario, a default could happen in the summer. Although such a scenario is unlikely, the national debt ceiling has been repeatedly raised, even at the very last moment.
Meanwhile, the S&P-500 stock index is sending an important signal. The price reversed down this week from the descending trendline (1) that was in effect throughout 2022 and, apparently, continues to be relevant. An attempt (2) by the bulls to break through it turned out to be a failure.
Therefore, in the coming days, we can see how the index will be clamped in the consolidation between the trend lines (1) and (3). And the exit from this consolidation zone can determine the beginning of a significant trend.
According to JPMorgan analysts, investors should not buy shares. The risks of recession and excessive tightening of the Fed's policy remain high, so the US stock market is expected to fall.
According to UBS analysts, a small rally at the beginning of 2023 is fake, because. stocks continue to be under pressure from persistently high inflation.
To take advantage of price movements in the stock market, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
THE US NATIONAL DEBT HAS REACHED THE CEILING. WHAT DOES THIS MEAN FOR INVESTORS?
The White House refused to discuss with the US Congress the terms of increasing the national debt. The Ministry of Finance will spend previously accumulated reserves, which should last until June 5. Emergency measures have also been introduced - the work of two federal pension funds has been suspended.
What does this mean for investors? So far, no big deal. But in the worst case scenario, a default could happen in the summer. Although such a scenario is unlikely, the national debt ceiling has been repeatedly raised, even at the very last moment.
Meanwhile, the S&P-500 stock index is sending an important signal. The price reversed down this week from the descending trendline (1) that was in effect throughout 2022 and, apparently, continues to be relevant. An attempt (2) by the bulls to break through it turned out to be a failure.
Therefore, in the coming days, we can see how the index will be clamped in the consolidation between the trend lines (1) and (3). And the exit from this consolidation zone can determine the beginning of a significant trend.
According to JPMorgan analysts, investors should not buy shares. The risks of recession and excessive tightening of the Fed's policy remain high, so the US stock market is expected to fall.
According to UBS analysts, a small rally at the beginning of 2023 is fake, because. stocks continue to be under pressure from persistently high inflation.
To take advantage of price movements in the stock market, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
👍1
#MarketNews #Oil
THE PRICE OF OIL IS TRYING TO BREAK THROUGH IMPORTANT RESISTANCE
The International Energy Agency released a forecast on Wednesday that demand for oil will peak in 2023. This will be facilitated by the lifting of restrictions in China.
Meanwhile, Goldman Sachs conducted a survey of which region stocks will perform best in 2023:
• Asia - 48%
• Europe - 20%
• USA - 18%
• EM - 8%
• Japan - 6%
The results confirm that the economy of the Asian region is in the favorites of the year.
The oil price chart shows that the price has already managed to confidently win back a record drop in the first two trading sessions of the year, which indicates the strength of demand.
Now the price is near the resistance block from lines (1) and (2). If a bullish breakout occurs (which will be justified by traders' expectation of demand from Asian economies), this block could become an important support zone.
To take advantage of trends in the commodity markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
THE PRICE OF OIL IS TRYING TO BREAK THROUGH IMPORTANT RESISTANCE
The International Energy Agency released a forecast on Wednesday that demand for oil will peak in 2023. This will be facilitated by the lifting of restrictions in China.
Meanwhile, Goldman Sachs conducted a survey of which region stocks will perform best in 2023:
• Asia - 48%
• Europe - 20%
• USA - 18%
• EM - 8%
• Japan - 6%
The results confirm that the economy of the Asian region is in the favorites of the year.
The oil price chart shows that the price has already managed to confidently win back a record drop in the first two trading sessions of the year, which indicates the strength of demand.
Now the price is near the resistance block from lines (1) and (2). If a bullish breakout occurs (which will be justified by traders' expectation of demand from Asian economies), this block could become an important support zone.
To take advantage of trends in the commodity markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
🤩1
Watch FXOpen's January 16 - 20 Weekly Market Wrap Video
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/p0xkRCVr0kU
On FXOpen Market News, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. You can also find text versions of the news reports at our Internet resources.
https://youtu.be/p0xkRCVr0kU
YouTube
FXOpen Weekly Market Wrap With Gary Thomson : DAVOS DAMPENER, CHINA STOCK MARKET, CRYPTO WINTER OVER
Watch FXOpen's January 16 - 20 Weekly Market Wrap Video
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- The Davos dampener: Markets stagnant on WEF discussions
- China stock market…
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- The Davos dampener: Markets stagnant on WEF discussions
- China stock market…
#MarketNews #Cryptocurrency #BTC
BITCOIN HEADING TOWARDS $25K?
On Thursday it became known that Genesis Global Capital filed for bankruptcy protection. Genesis is owned by Digital Currency Group. The company faced the negative consequences of the collapse of the cryptocurrency hedge fund Three Arrows Capital and the FTX exchange.
However, despite the negative news, the cryptocurrency market continued to show positive dynamics. Apparently, the optimism of market participants is justified by the decrease in inflation, which means the expectation of easing the Fed's monetary policy.
On Friday, the price of bitcoin broke the resistance level (1) 21500 from the top formed in November 2022. Now technical analysts can expect support from this level.
If optimism continues and the uptrend continues, the price of bitcoin could reach (2) $25,000 per coin. This is a psychological mark that resisted in August 2022.
What is more curious, the fluctuations in the price of bitcoin make the contours of the channel marked in purple more and more visible. Its upper limit (3) is just about 25k, so if the price reaches it, the bears will have a reason to show themselves.
To take advantage of trends in trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
BITCOIN HEADING TOWARDS $25K?
On Thursday it became known that Genesis Global Capital filed for bankruptcy protection. Genesis is owned by Digital Currency Group. The company faced the negative consequences of the collapse of the cryptocurrency hedge fund Three Arrows Capital and the FTX exchange.
However, despite the negative news, the cryptocurrency market continued to show positive dynamics. Apparently, the optimism of market participants is justified by the decrease in inflation, which means the expectation of easing the Fed's monetary policy.
On Friday, the price of bitcoin broke the resistance level (1) 21500 from the top formed in November 2022. Now technical analysts can expect support from this level.
If optimism continues and the uptrend continues, the price of bitcoin could reach (2) $25,000 per coin. This is a psychological mark that resisted in August 2022.
What is more curious, the fluctuations in the price of bitcoin make the contours of the channel marked in purple more and more visible. Its upper limit (3) is just about 25k, so if the price reaches it, the bears will have a reason to show themselves.
To take advantage of trends in trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
#MarketNews #Gas
NATURAL GAS FELL BY 50% IN 1 MONTH
In mid-December 2022, natural gas futures on the New York exchange cost $6.8. In mid-January 2023, $3.4 each. On Friday, the price dropped below $3.1. Such a low price was recorded for the last time in the summer of 2021.
The main reason for the price reduction is the warm winter, both in Europe and in the USA. The reduction of gas supplies to Europe by Russia ceases to have a bullish effect.
What's next? Can too low a price attract buyers? There are three arguments to give a positive answer.
Firstly, the price may find support near the parallel channel line (1).
Secondly, the volumes decrease (2) as the price decreases, which can be interpreted as a shortage of supply. Sellers are unwilling to receive so little for contracts.
Thirdly, the bullish gap on Monday morning. It looks like demand is returning to the market. Therefore, the risk of bull trading can be justified.
To take advantage of trends in the energy asset markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
NATURAL GAS FELL BY 50% IN 1 MONTH
In mid-December 2022, natural gas futures on the New York exchange cost $6.8. In mid-January 2023, $3.4 each. On Friday, the price dropped below $3.1. Such a low price was recorded for the last time in the summer of 2021.
The main reason for the price reduction is the warm winter, both in Europe and in the USA. The reduction of gas supplies to Europe by Russia ceases to have a bullish effect.
What's next? Can too low a price attract buyers? There are three arguments to give a positive answer.
Firstly, the price may find support near the parallel channel line (1).
Secondly, the volumes decrease (2) as the price decreases, which can be interpreted as a shortage of supply. Sellers are unwilling to receive so little for contracts.
Thirdly, the bullish gap on Monday morning. It looks like demand is returning to the market. Therefore, the risk of bull trading can be justified.
To take advantage of trends in the energy asset markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
#MarketNews
MICROSOFT TO REPORT TODAY
There are 3 key questions that investors are interested in:
→ How does the decline in PC sales (after the surge in sales caused by the pandemic and transfers to work from home) affect Microsoft's business?
→ How is the Azure cloud business evolving?
→ What are the company's expectations for the multibillion-dollar investment in OpenAI, developer of ChatGPT?
Earlier this month, Microsoft announced plans to cut 10,000 jobs, or just under 5% of its total workforce. This is not a sign that the company is doing well.
Nevertheless, analysts are bullish. According to TipRanks, out of 29 Wall Street analysts, 26 recommend buying the stock. According to their average forecast, in a year MSFT will cost $282.16 (+16% from current levels).
Note on the chart the action of the key level (1) $225 per share. Previously, it worked as a resistance, but after a bullish breakout, it serves as a support. Therefore, the approach of the price to $225 may justify the purchase of MSFT with the expectation that analysts' forecasts will come true.
To take advantage of trends in the stock markets of popular companies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
MICROSOFT TO REPORT TODAY
There are 3 key questions that investors are interested in:
→ How does the decline in PC sales (after the surge in sales caused by the pandemic and transfers to work from home) affect Microsoft's business?
→ How is the Azure cloud business evolving?
→ What are the company's expectations for the multibillion-dollar investment in OpenAI, developer of ChatGPT?
Earlier this month, Microsoft announced plans to cut 10,000 jobs, or just under 5% of its total workforce. This is not a sign that the company is doing well.
Nevertheless, analysts are bullish. According to TipRanks, out of 29 Wall Street analysts, 26 recommend buying the stock. According to their average forecast, in a year MSFT will cost $282.16 (+16% from current levels).
Note on the chart the action of the key level (1) $225 per share. Previously, it worked as a resistance, but after a bullish breakout, it serves as a support. Therefore, the approach of the price to $225 may justify the purchase of MSFT with the expectation that analysts' forecasts will come true.
To take advantage of trends in the stock markets of popular companies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
#MarketNews #Cryptocurrency #BTC
OPEN INTEREST IN THE BITCOIN MARKET INCREASES
Open interest is an indicator that displays the number of open positions in the futures market. According to Arcane, open interest in the bitcoin market on the CME exchange increased (1) in early 2023, while this figure decreased on crypto exchanges.
Since CME is the world's largest group of exchanges in Chicago and New York, the open interest indicator can reflect the real sentiment of institutional investors towards cryptocurrency.
According to CNBC, some analysts expect that bitcoin could rise in price to $250,000 per coin as early as this year. Pretty optimistic, given that the bulls have so far struggled to clear the September (2) top around 23k, which stalled the rally that started around the new year.
To take advantage of trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
OPEN INTEREST IN THE BITCOIN MARKET INCREASES
Open interest is an indicator that displays the number of open positions in the futures market. According to Arcane, open interest in the bitcoin market on the CME exchange increased (1) in early 2023, while this figure decreased on crypto exchanges.
Since CME is the world's largest group of exchanges in Chicago and New York, the open interest indicator can reflect the real sentiment of institutional investors towards cryptocurrency.
According to CNBC, some analysts expect that bitcoin could rise in price to $250,000 per coin as early as this year. Pretty optimistic, given that the bulls have so far struggled to clear the September (2) top around 23k, which stalled the rally that started around the new year.
To take advantage of trends in the cryptocurrency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
#MarketNews
AUSTRALIAN DOLLAR NEARS 6-MONTH HIGH
The Australian dollar jumped more than 0.8% to 0.71, a rate not seen since August 2022. The jump came amid news of inflation, which hit a 33-year high.
This means that market participants are gearing up for a tightening move by the Reserve Bank of Australia (RBA).
Also, the growth of the Australian dollar (+5% since the beginning of the year) may be supported by the removal of coronavirus restrictions in China.
The graph shows that:
→ the downstream channel (shown in blue), which was active for most of 2022, is no longer relevant;
→ the market is probably overbought (because the price has exceeded the upper limit of the channel shown in black);
→ AUDUSD is approaching a top around 0.713 formed in August - and it may offer resistance (e.g. with a false break pattern forming at this notable top).
And even higher (around 0.726) is the next level of resistance, so the bulls will have to make a serious effort to prove that they control the market.
To take advantage of fluctuations in exchange rates, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
AUSTRALIAN DOLLAR NEARS 6-MONTH HIGH
The Australian dollar jumped more than 0.8% to 0.71, a rate not seen since August 2022. The jump came amid news of inflation, which hit a 33-year high.
This means that market participants are gearing up for a tightening move by the Reserve Bank of Australia (RBA).
Also, the growth of the Australian dollar (+5% since the beginning of the year) may be supported by the removal of coronavirus restrictions in China.
The graph shows that:
→ the downstream channel (shown in blue), which was active for most of 2022, is no longer relevant;
→ the market is probably overbought (because the price has exceeded the upper limit of the channel shown in black);
→ AUDUSD is approaching a top around 0.713 formed in August - and it may offer resistance (e.g. with a false break pattern forming at this notable top).
And even higher (around 0.726) is the next level of resistance, so the bulls will have to make a serious effort to prove that they control the market.
To take advantage of fluctuations in exchange rates, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
#MarketNews #TSLA
TSLA REPORT REASSURES INVESTORS
Tesla shares were one of the main victims of the 2022 stock bear market (-73% in 12 months).
Yesterday evening's report could have:
→ confirmed the recovery in the value of shares that began in 2023 (+38% YTD),
→ or given momentum to the bears to try to resume the downtrend.
The first scenario happened. Shares after the close of trading rose by 5% as a result of the report, which exceeded analysts' expectations:
→ In 2022, the company delivered more than 1.3 million vehicles and achieved an operating margin of 17%, the highest among all automakers
→ January saw the highest level of YTD bookings ever. Currently, the volume of orders is almost twice the volume of production.
According to Elon Musk, we can conclude that he sees Twitter not as a problem for Tesla, but as an opportunity, as it helps to increase Tesla sales.
Looking at the chart, we can assume that the market has made a powerful bullish reversal, since the high volumes (1) at the end of December can be interpreted as the activity of large investors buying up cheaper stocks. Now the 105-120 zone (highlighted in green) should serve as support for stocks (if their price falls into this range).
Is the stock worth buying right now? Unlikely, as the price approaches the trend line (2), which will most certainly be able to cool the early 2023 rally.
To take advantage of trends in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
TSLA REPORT REASSURES INVESTORS
Tesla shares were one of the main victims of the 2022 stock bear market (-73% in 12 months).
Yesterday evening's report could have:
→ confirmed the recovery in the value of shares that began in 2023 (+38% YTD),
→ or given momentum to the bears to try to resume the downtrend.
The first scenario happened. Shares after the close of trading rose by 5% as a result of the report, which exceeded analysts' expectations:
→ In 2022, the company delivered more than 1.3 million vehicles and achieved an operating margin of 17%, the highest among all automakers
→ January saw the highest level of YTD bookings ever. Currently, the volume of orders is almost twice the volume of production.
According to Elon Musk, we can conclude that he sees Twitter not as a problem for Tesla, but as an opportunity, as it helps to increase Tesla sales.
Looking at the chart, we can assume that the market has made a powerful bullish reversal, since the high volumes (1) at the end of December can be interpreted as the activity of large investors buying up cheaper stocks. Now the 105-120 zone (highlighted in green) should serve as support for stocks (if their price falls into this range).
Is the stock worth buying right now? Unlikely, as the price approaches the trend line (2), which will most certainly be able to cool the early 2023 rally.
To take advantage of trends in the financial markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
#MarketNews
WHAT CHATGPT MEANS FOR INVESTORS
ChatGPT is a product of OpenAI (AI - artificial intelligence) from San Francisco. Interestingly, Elon Musk was one of the founders of the company in 2015 (but later left the board of directors).
In 2019, the company received a $1 billion investment from Microsoft. In November 2022, the company introduced ChatGPT, an artificial intelligence chatbot that can:
→ Write code
→ Answer difficult questions (Google alternative)
→ Create scripts, compositions, lyrics and notes
→ Give medical advice
→ Generate queries for other neural networks
It is with AI that Bill Gates associates the new revolution (and not with Web 3.0). In January, Microsoft announced another 10 billion investment in OpenAI.
What does this mean for investors? AI is unlikely to replace humans in investment decision making. But the development of the artificial intelligence industry means an increase in demand for cloud computing (support for Google, Amazon, Microsoft stocks).
And the AI boom could also support Nvidia stock. Out of 28 Wall Street analysts, 22 give NVDA a Buy rating, according to TipRanks.
NVDA, by the way, against the backdrop of a rally in the cryptocurrency market, rose to a maximum since May 2022. Yesterday, the price of NVDA exceeded $200 and is acting noticeably stronger than the S&P 500 index. However, right now the market seems to be overbought, so it makes sense to put the stock on a watch list to wait for the price to pull back.
To invest in the shares of leading technology companies in the face of the rapid development of artificial intelligence technologies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
WHAT CHATGPT MEANS FOR INVESTORS
ChatGPT is a product of OpenAI (AI - artificial intelligence) from San Francisco. Interestingly, Elon Musk was one of the founders of the company in 2015 (but later left the board of directors).
In 2019, the company received a $1 billion investment from Microsoft. In November 2022, the company introduced ChatGPT, an artificial intelligence chatbot that can:
→ Write code
→ Answer difficult questions (Google alternative)
→ Create scripts, compositions, lyrics and notes
→ Give medical advice
→ Generate queries for other neural networks
It is with AI that Bill Gates associates the new revolution (and not with Web 3.0). In January, Microsoft announced another 10 billion investment in OpenAI.
What does this mean for investors? AI is unlikely to replace humans in investment decision making. But the development of the artificial intelligence industry means an increase in demand for cloud computing (support for Google, Amazon, Microsoft stocks).
And the AI boom could also support Nvidia stock. Out of 28 Wall Street analysts, 22 give NVDA a Buy rating, according to TipRanks.
NVDA, by the way, against the backdrop of a rally in the cryptocurrency market, rose to a maximum since May 2022. Yesterday, the price of NVDA exceeded $200 and is acting noticeably stronger than the S&P 500 index. However, right now the market seems to be overbought, so it makes sense to put the stock on a watch list to wait for the price to pull back.
To invest in the shares of leading technology companies in the face of the rapid development of artificial intelligence technologies, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
#MarketNews
4 MOST POPULAR INVESTMENTS AMONG PROFESSIONALS IN JANUARY
Bank of America conducted a survey of fund managers regarding their transactions in January 2023. Survey results:
1. Long USD: 32%
2. Long ESG assets: 17%
3. Long shares of China 12%
4. Long oil: 9%
That is, about a third of professionals bet on the growth of USD. Accordingly, this means that other currencies, in their opinion, will fall in price relative to the “American”. It is likely that such a scenario could materialize next week when central banks are active.
Meanwhile, signs of euro weakness against the dollar can already be seen on the EURUSD chart. The bulls have stormed the 1.9 level several times since the beginning of the week - and failed each time. And the CCI indicator indicates a weakening (1) of the efforts of the bulls, forming a divergence with price peaks - thus, the threat of a bearish breakdown of the trend line (2) is growing.
To take advantage of trends in the currency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
4 MOST POPULAR INVESTMENTS AMONG PROFESSIONALS IN JANUARY
Bank of America conducted a survey of fund managers regarding their transactions in January 2023. Survey results:
1. Long USD: 32%
2. Long ESG assets: 17%
3. Long shares of China 12%
4. Long oil: 9%
That is, about a third of professionals bet on the growth of USD. Accordingly, this means that other currencies, in their opinion, will fall in price relative to the “American”. It is likely that such a scenario could materialize next week when central banks are active.
Meanwhile, signs of euro weakness against the dollar can already be seen on the EURUSD chart. The bulls have stormed the 1.9 level several times since the beginning of the week - and failed each time. And the CCI indicator indicates a weakening (1) of the efforts of the bulls, forming a divergence with price peaks - thus, the threat of a bearish breakdown of the trend line (2) is growing.
To take advantage of trends in the currency markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
CFDs are complex instruments and come with a high risk of losing your money.
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.
