#MarketNew #Gas
NATURAL GAS PRICES ARE NEARING NEW LOWS OF THE YEAR
The approaching spring after a warm winter, increased supply amid geopolitical risks that are losing influence — all this has led to the fact that natural gas futures prices are around $2.37 per contract, the lowest level since December 2020.
The Energy Information Administration (EIA) sharply lowered its forecast for US natural gas prices this week. According to the forecast, prices in 2023 are likely to average $3.40 (30% below the forecast published 1 month ago). For 2024, the EIA cut its natural gas price forecast by 15.8% to $4.04.
The current price is well below the forecasts, but the downtrend is still in place. Please note that trading volumes show high values, which indicates the activity of large market participants; they may be accumulating a long position in the expectation that prices will rise to the average forecast values in the long term.
To take advantage of fluctuations in natural gas prices, 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 PRICES ARE NEARING NEW LOWS OF THE YEAR
The approaching spring after a warm winter, increased supply amid geopolitical risks that are losing influence — all this has led to the fact that natural gas futures prices are around $2.37 per contract, the lowest level since December 2020.
The Energy Information Administration (EIA) sharply lowered its forecast for US natural gas prices this week. According to the forecast, prices in 2023 are likely to average $3.40 (30% below the forecast published 1 month ago). For 2024, the EIA cut its natural gas price forecast by 15.8% to $4.04.
The current price is well below the forecasts, but the downtrend is still in place. Please note that trading volumes show high values, which indicates the activity of large market participants; they may be accumulating a long position in the expectation that prices will rise to the average forecast values in the long term.
To take advantage of fluctuations in natural gas prices, 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
SEC PUTTING PRESSURE ON THE CRYPTO INDUSTRY
The US state regulator is making claims against the Kraken exchange, the second largest crypto exchange in the country after Coinbase. The claims relate to the staking service, which allows owners of crypto assets to receive passive income.
Offering staking as a service is usually not accompanied by proper information. And there is no reliable way for an investor to know the answers to these important investment questions, SEC Chairman Gary Gensler said on Thursday.
The news is indicative of a new SEC attack on the crypto industry; opinions are expressed that Kraken may leave the US jurisdiction for offshore. In any case, the growing anxiety has caused bitcoin to drop in price.
As we suggested in the previous post, the trend line (1) was broken by the bears after several bounces, which quickly lost momentum. All longs opened above 22500 since Jan 21 are now showing losses. Closing them (whether forced or voluntary) may amplify the effect of pressure exerted by the SEC.
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.
SEC PUTTING PRESSURE ON THE CRYPTO INDUSTRY
The US state regulator is making claims against the Kraken exchange, the second largest crypto exchange in the country after Coinbase. The claims relate to the staking service, which allows owners of crypto assets to receive passive income.
Offering staking as a service is usually not accompanied by proper information. And there is no reliable way for an investor to know the answers to these important investment questions, SEC Chairman Gary Gensler said on Thursday.
The news is indicative of a new SEC attack on the crypto industry; opinions are expressed that Kraken may leave the US jurisdiction for offshore. In any case, the growing anxiety has caused bitcoin to drop in price.
As we suggested in the previous post, the trend line (1) was broken by the bears after several bounces, which quickly lost momentum. All longs opened above 22500 since Jan 21 are now showing losses. Closing them (whether forced or voluntary) may amplify the effect of pressure exerted by the SEC.
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.
👍1
#MarketNews
UK GDP DECLINED IN DECEMBER
An economy is said to enter a recession if GDP declines for 2 quarters in a row. Last quarter, UK GDP was negative.
In December 2022, UK GDP contracted by 0.5% month-on-month, worse than forecasts of a 0.3% fall, according to data released this morning.
But despite the fall in GDP in December, the amount for the Q4 of 2022 is positive; this means technically that the UK economy has avoided a recession.
In the meantime, the chart shows that the outlook for the pound remains bleak, judging by the dynamics of volumes and the price of the corresponding futures near the key resistance level of 1.24:
1 → high volumes (i.e., “big player activity”) stopped the uptrend;
2 → low volumes suggest weak demand;
3 → high volumes against the backdrop of falling prices confirm the weakness of demand and the dominance of supply.
Despite 3 growing candles in a row over the past few days, there may not be much reason for optimism.
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.
UK GDP DECLINED IN DECEMBER
An economy is said to enter a recession if GDP declines for 2 quarters in a row. Last quarter, UK GDP was negative.
In December 2022, UK GDP contracted by 0.5% month-on-month, worse than forecasts of a 0.3% fall, according to data released this morning.
But despite the fall in GDP in December, the amount for the Q4 of 2022 is positive; this means technically that the UK economy has avoided a recession.
In the meantime, the chart shows that the outlook for the pound remains bleak, judging by the dynamics of volumes and the price of the corresponding futures near the key resistance level of 1.24:
1 → high volumes (i.e., “big player activity”) stopped the uptrend;
2 → low volumes suggest weak demand;
3 → high volumes against the backdrop of falling prices confirm the weakness of demand and the dominance of supply.
Despite 3 growing candles in a row over the past few days, there may not be much reason for optimism.
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.
😱1
Watch FXOpen's February 6 - 10 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.
- British Pound hits the deck as Western markets raise interest rates
- After a long decline, Tesla leads the charge as EV stocks are back in vogue
- On the state of the US economy
- Natural gas prices are nearing new lows of the year
Watch our short and informative video, and stay updated with FXOpen.
https://youtu.be/e-QnYikpA_8
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- British Pound hits the deck as Western markets raise interest rates
- After a long decline, Tesla leads the charge as EV stocks are back in vogue
- On the state of the US economy
- Natural gas prices are nearing new lows of the year
Watch our short and informative video, and stay updated with FXOpen.
https://youtu.be/e-QnYikpA_8
YouTube
FXOpen Weekly Market Wrap With Gary Thomson : BRITISH POUND, TESLA LEADS, US ECONOMY, NATURAL GAS
Watch FXOpen's February 6 - 10 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.
- British Pound hits the deck as Western markets raise interest rates
- After…
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
- British Pound hits the deck as Western markets raise interest rates
- After…
🔥1
FXOpen official pinned «Watch FXOpen's February 6 - 10 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. - British Pound hits the deck as Western markets raise interest rates - After…»
#MarketNews
THIS WEEK'S BIG QUESTION
Market participants discuss:
→ Who will be the new head of the Bank of Japan?
→ What are the flying objects over the USA really? (US Air Force General Glen D. VanHerck does not rule out their alien origin)
→ What will be the results of Coca-Cola, AMD, and other companies from the S&P 500 list, which will complete the reporting season?
But the main question at the beginning of the new week is: what is the inflation rate in the US now? There is concern about rising gasoline prices. The actual data will be published on Tuesday. In an unfavorable scenario, it may turn out that inflation falls too slowly. This should mean that the Fed will continue its tightening policy.
In anticipation of the news, futures for the dollar index continue to show bullish signs. A long lower shadow (1) on the February 9 candle indicates that the strength of demand does not allow the quote to fall into the range formed by the triangle (2-3).
Tuesday's news will give the market momentum. As a result, the resistance line (4), which is currently holding back the activity of the bulls, can be broken.
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.
THIS WEEK'S BIG QUESTION
Market participants discuss:
→ Who will be the new head of the Bank of Japan?
→ What are the flying objects over the USA really? (US Air Force General Glen D. VanHerck does not rule out their alien origin)
→ What will be the results of Coca-Cola, AMD, and other companies from the S&P 500 list, which will complete the reporting season?
But the main question at the beginning of the new week is: what is the inflation rate in the US now? There is concern about rising gasoline prices. The actual data will be published on Tuesday. In an unfavorable scenario, it may turn out that inflation falls too slowly. This should mean that the Fed will continue its tightening policy.
In anticipation of the news, futures for the dollar index continue to show bullish signs. A long lower shadow (1) on the February 9 candle indicates that the strength of demand does not allow the quote to fall into the range formed by the triangle (2-3).
Tuesday's news will give the market momentum. As a result, the resistance line (4), which is currently holding back the activity of the bulls, can be broken.
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.
🔥2
2022 ForexCup Trading Championship Finals, Launch of FTC 2023 Announced
ForexCup, a high-tier trading championship, sponsored by FXOpen, is announcing the winner of the 2022 season, who successfully traded his way to over 800% gain on their initial deposit, claiming his $50,000 prize, together with a commemorative crystal trophy.
After another thrill-packed year-long run, ForexCup Trading Championship came to a close on December 31st 2022. Out of around 30 geographically diverse competing accounts, the top three winners demonstrated remarkable results:...
https://fxopen.com/en/news/2022-forexcup-trading-championship-finals-launch-of-ftc-2023-announced/
ForexCup, a high-tier trading championship, sponsored by FXOpen, is announcing the winner of the 2022 season, who successfully traded his way to over 800% gain on their initial deposit, claiming his $50,000 prize, together with a commemorative crystal trophy.
After another thrill-packed year-long run, ForexCup Trading Championship came to a close on December 31st 2022. Out of around 30 geographically diverse competing accounts, the top three winners demonstrated remarkable results:...
https://fxopen.com/en/news/2022-forexcup-trading-championship-finals-launch-of-ftc-2023-announced/
👍1😱1
#MarketNews
TRAPPED
The Market Profile indicator shows (1) a large number of trades made at the $23k level in late January/early February. Investors who bought bitcoin are now “trapped” under psychological pressure, watching how their loss is changing, which was formed after a sharp decline on February 9 (it was caused by claims from the SEC regulator to the Kraken crypto exchange because of the staking service).
Following the claim:
→ Kraken agreed to suspend the staking service
→ Coinbase management says it will gladly defend the staking service for its customers
→ The SEC filed claims against stablecoin firm Paxos, which indicates the activity of the regulator and possible new claims.
The current flat around $21.75k against the backdrop of disturbing news should increase the desire of investors to exit the longs with minimal losses. With this desire, they can start selling if the price rises to the resistance level (2), which in turn will contribute to the formation of a bearish breakout test pattern and a new wave of skepticism about the long crypto winter.
To take advantage of trends in the crypto 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.
TRAPPED
The Market Profile indicator shows (1) a large number of trades made at the $23k level in late January/early February. Investors who bought bitcoin are now “trapped” under psychological pressure, watching how their loss is changing, which was formed after a sharp decline on February 9 (it was caused by claims from the SEC regulator to the Kraken crypto exchange because of the staking service).
Following the claim:
→ Kraken agreed to suspend the staking service
→ Coinbase management says it will gladly defend the staking service for its customers
→ The SEC filed claims against stablecoin firm Paxos, which indicates the activity of the regulator and possible new claims.
The current flat around $21.75k against the backdrop of disturbing news should increase the desire of investors to exit the longs with minimal losses. With this desire, they can start selling if the price rises to the resistance level (2), which in turn will contribute to the formation of a bearish breakout test pattern and a new wave of skepticism about the long crypto winter.
To take advantage of trends in the crypto 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
WHY TODAY'S NEWS COULD CRUSH THE US STOCK MARKET
Yesterday, the S&P 500 rose (1) in value as investors were positive ahead of today's big inflation news.
Economists expect the consumer price index to rise 0.4% in January, marking a 6.2% annual increase. However, there are some indications (for example, from the bond and options markets) that the number could be even higher.
Michael Kramer, founder of Mott Capital Management, warns that higher-than-expected inflation could be a turning point with "far-sighted implications." In his opinion, the stock market is in a "fantasy land" and ordinary investors do not seem to be very concerned about the upcoming report on the consumer price index. Admitting mistakes can turn into panic selling and crush the stock index.
The chart shows that the price of futures is rising to the effective (as indicated by the arrows) resistance level of 4175. Let’s look at the volumes (2) — after a surge in activity (which may be due to profit taking by large players) on February 2-3, the price went down which confirms resistance validity of 4175.
Bulls will hope that inflation will be lower than expected, which will help them overcome the level of 4175. Otherwise, all the progress achieved by the stock index since the beginning of the year may be leveled.
Volatility across all markets is expected today.
To take advantage of price fluctuations, 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.
WHY TODAY'S NEWS COULD CRUSH THE US STOCK MARKET
Yesterday, the S&P 500 rose (1) in value as investors were positive ahead of today's big inflation news.
Economists expect the consumer price index to rise 0.4% in January, marking a 6.2% annual increase. However, there are some indications (for example, from the bond and options markets) that the number could be even higher.
Michael Kramer, founder of Mott Capital Management, warns that higher-than-expected inflation could be a turning point with "far-sighted implications." In his opinion, the stock market is in a "fantasy land" and ordinary investors do not seem to be very concerned about the upcoming report on the consumer price index. Admitting mistakes can turn into panic selling and crush the stock index.
The chart shows that the price of futures is rising to the effective (as indicated by the arrows) resistance level of 4175. Let’s look at the volumes (2) — after a surge in activity (which may be due to profit taking by large players) on February 2-3, the price went down which confirms resistance validity of 4175.
Bulls will hope that inflation will be lower than expected, which will help them overcome the level of 4175. Otherwise, all the progress achieved by the stock index since the beginning of the year may be leveled.
Volatility across all markets is expected today.
To take advantage of price fluctuations, 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
US INFLATION NEWS SPUR BITCOIN’S GROWTH
Yesterday's data showed that inflation, although slowing down (good news), remains stable (bad news):
→ previous value: 6.5%
→ forecast: 6.2%
→ fact: 6.4%
As a result, under the influence of bad and good components on the intraday charts of the financial markets, “volatile swings” formed on high volumes.
It may take more time and effort for the Fed to use tight monetary policy to bring inflation down to its 2%-2.5% target.
Wednesday morning: stocks are moderately declining, gold is rapidly depreciating, the dollar is rising in price. One of the assets that received a noticeable positive momentum was bitcoin (and other cryptocurrencies), which allowed it to recover slightly after pressure on the industry from the SEC.
The BTCUSD chart shows that yesterday's momentum was not enough to reach the nearest resistance level (1). Therefore, it is hardly possible to say that the bulls seized the initiative.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
US INFLATION NEWS SPUR BITCOIN’S GROWTH
Yesterday's data showed that inflation, although slowing down (good news), remains stable (bad news):
→ previous value: 6.5%
→ forecast: 6.2%
→ fact: 6.4%
As a result, under the influence of bad and good components on the intraday charts of the financial markets, “volatile swings” formed on high volumes.
It may take more time and effort for the Fed to use tight monetary policy to bring inflation down to its 2%-2.5% target.
Wednesday morning: stocks are moderately declining, gold is rapidly depreciating, the dollar is rising in price. One of the assets that received a noticeable positive momentum was bitcoin (and other cryptocurrencies), which allowed it to recover slightly after pressure on the industry from the SEC.
The BTCUSD chart shows that yesterday's momentum was not enough to reach the nearest resistance level (1). Therefore, it is hardly possible to say that the bulls seized the initiative.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
#MarketNew #FTSE
FTSE REACHES RECORD HIGH
The British stock market index (the orange line) has reached a historic peak, rising close to the psychological level of 8000 points.
This is remarkable in that neither the Chinese nor the US market shows similar progress.
The reason for the top of the FTSE may be due to the “weak pound”. As the graph (the blue line) shows, the pound index is gradually declining, creating preferences for the many British companies that profit abroad and whose shares are included in the index.
For example, British Petroleum, one of the growth engines of the FTSE, announced a doubling of profits due to higher gas prices in Europe caused by the war in Ukraine.
The chart shows that the index is strengthening above the 7700 resistance line, which has been in place for several years. Now, from a technical point of view, it can provide support in case of a rollback.
To take advantage of trends in the stock 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.
FTSE REACHES RECORD HIGH
The British stock market index (the orange line) has reached a historic peak, rising close to the psychological level of 8000 points.
This is remarkable in that neither the Chinese nor the US market shows similar progress.
The reason for the top of the FTSE may be due to the “weak pound”. As the graph (the blue line) shows, the pound index is gradually declining, creating preferences for the many British companies that profit abroad and whose shares are included in the index.
For example, British Petroleum, one of the growth engines of the FTSE, announced a doubling of profits due to higher gas prices in Europe caused by the war in Ukraine.
The chart shows that the index is strengthening above the 7700 resistance line, which has been in place for several years. Now, from a technical point of view, it can provide support in case of a rollback.
To take advantage of trends in the stock 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 #Cryptocurrency #btc
RETAIL AND BITCOIN HIGH
On Wednesday, the US Department of Commerce released data showing retail sales up +3% from -1.1% last month. This is the maximum in almost 2 years. The numbers (even seasonally adjusted) suggest that the economy remains resilient even as interest rates rise, giving the Fed more freedom to continue tight monetary policy.
Reacting to data about a strong economy, the US dollar rose against other currencies.
It is impossible not to note the growth of bitcoin to a maximum in 2023. Yesterday, the main cryptocurrency went up by 11% at once, coming close to the psychological level of $25k. It is unlikely that the growth of bitcoin was caused by news about retail sales. Perhaps insiders are buying the cryptocurrency knowing that an important event is approaching (for example, something SEC-related).
Yesterday's bullish candle (1) completely engulfed the bearish candle of February 15 (2) with high volume, which means that the bulls continue to control the market despite the selling pressure. Since the beginning of the year, the BTCUSD rate has already risen by 47%. According to Mike Novogratz, CEO of Galaxy Digital, he wouldn't be surprised if bitcoin hit $30,000 this quarter.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
RETAIL AND BITCOIN HIGH
On Wednesday, the US Department of Commerce released data showing retail sales up +3% from -1.1% last month. This is the maximum in almost 2 years. The numbers (even seasonally adjusted) suggest that the economy remains resilient even as interest rates rise, giving the Fed more freedom to continue tight monetary policy.
Reacting to data about a strong economy, the US dollar rose against other currencies.
It is impossible not to note the growth of bitcoin to a maximum in 2023. Yesterday, the main cryptocurrency went up by 11% at once, coming close to the psychological level of $25k. It is unlikely that the growth of bitcoin was caused by news about retail sales. Perhaps insiders are buying the cryptocurrency knowing that an important event is approaching (for example, something SEC-related).
Yesterday's bullish candle (1) completely engulfed the bearish candle of February 15 (2) with high volume, which means that the bulls continue to control the market despite the selling pressure. Since the beginning of the year, the BTCUSD rate has already risen by 47%. According to Mike Novogratz, CEO of Galaxy Digital, he wouldn't be surprised if bitcoin hit $30,000 this quarter.
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.
Cryptocurrency CFDs are not available to Retail clients in the UK.
Trading hours schedule for the US Presidents' Day
Dear Traders,
Please be aware of the trading schedule changes on the US Presidents' Day (all times are GMT+2):
Monday, February 20
Commodities CFD:
XAUUSD (Gold) - till 21:30;
XAGUSD (Silver) - till 21:30;
UK Brent (XBRUSD) - till 21:15;
US Crude (XTIUSD) - till 21:15;
US Natural Gas (XNGUSD) - till 21:15.
Indices CFD:
Japan 225 (#J225) - till 20:00;
US SPX 500 (#SPXm) - till 20:00;
US Tech 100 (#NDXm) - till 20:00;
Wall Street 30 (#WS30m) - till 20:00.
Stock CFD: trading closed.
All other financial markets will be traded as usual.
Please consider this information as you plan your trading and note that the hours above are subject to change.
Dear Traders,
Please be aware of the trading schedule changes on the US Presidents' Day (all times are GMT+2):
Monday, February 20
Commodities CFD:
XAUUSD (Gold) - till 21:30;
XAGUSD (Silver) - till 21:30;
UK Brent (XBRUSD) - till 21:15;
US Crude (XTIUSD) - till 21:15;
US Natural Gas (XNGUSD) - till 21:15.
Indices CFD:
Japan 225 (#J225) - till 20:00;
US SPX 500 (#SPXm) - till 20:00;
US Tech 100 (#NDXm) - till 20:00;
Wall Street 30 (#WS30m) - till 20:00.
Stock CFD: trading closed.
All other financial markets will be traded as usual.
Please consider this information as you plan your trading and note that the hours above are subject to change.
👍2
#MarketNews
DOLLAR INDEX APPROACHING MAXIMUM SINCE BEGINNING OF THE YEAR
Yesterday, Fed spokesman James Bullard announced a possible rate hike to perpetuate a disinflationary trend throughout 2023. This came as a surprise to the markets.
According to Bloomberg, there are growing opinions about a 0.5% rate hike. Previously, the base case was at a peak of 5%. But now Goldman is predicting 3 more Fed rate hikes of 0.25% in March, May and June.
It is possible that the rate at the peak will reach 6%. Reacting to this scenario, stock markets plummeted yesterday (as did bitcoin, which reversed from the $25k psychological level), and the dollar index rose sharply. And today, the USD is stronger than other currencies.
As we expected, demand strength signals (for example, long lower shadows on the February 9 and 14 candles, as shown by the arrows) led to bullish breakouts of trend lines 1 and 2. And now the index can resume the uptrend (3), as a result of which it values reached multi-year highs in autumn 2022.
To take advantage of trends in the currency and crypto 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.
DOLLAR INDEX APPROACHING MAXIMUM SINCE BEGINNING OF THE YEAR
Yesterday, Fed spokesman James Bullard announced a possible rate hike to perpetuate a disinflationary trend throughout 2023. This came as a surprise to the markets.
According to Bloomberg, there are growing opinions about a 0.5% rate hike. Previously, the base case was at a peak of 5%. But now Goldman is predicting 3 more Fed rate hikes of 0.25% in March, May and June.
It is possible that the rate at the peak will reach 6%. Reacting to this scenario, stock markets plummeted yesterday (as did bitcoin, which reversed from the $25k psychological level), and the dollar index rose sharply. And today, the USD is stronger than other currencies.
As we expected, demand strength signals (for example, long lower shadows on the February 9 and 14 candles, as shown by the arrows) led to bullish breakouts of trend lines 1 and 2. And now the index can resume the uptrend (3), as a result of which it values reached multi-year highs in autumn 2022.
To take advantage of trends in the currency and crypto 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.
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7 Common Ways to Forecast Currency Exchange Rates
If you’re a Forex trader, currency rate forecasting is a fundamental activity for you. If you fail to forecast an exchange rate or at least a price direction, you could end up losing your funds. To minimise risks, a trader should be equipped with various methods that will help them determine a currency price..
https://fxopen.com/blog/en/7-common-ways-to-forecast-currency-exchange-rates/
If you’re a Forex trader, currency rate forecasting is a fundamental activity for you. If you fail to forecast an exchange rate or at least a price direction, you could end up losing your funds. To minimise risks, a trader should be equipped with various methods that will help them determine a currency price..
https://fxopen.com/blog/en/7-common-ways-to-forecast-currency-exchange-rates/
Market Pulse
7 Common Ways to Forecast Currency Exchange Rates | FXOpen
Forecasting currency exchanges could help traders to minimise risks. Read on to discover some common ways to forecast exchange rates.
#MarketNews
THE PRICE OF GOLD SETS A MINIMUM SINCE THE BEGINNING OF THE YEAR
On the morning of February 17, the price of gold futures on the COMEX exchange fell below $ 1,829 per ounce, thereby setting the lowest level since the beginning of 2023.
The price decline from the $1975 peak set on Feb. 2 is due to the strengthening of the dollar, evidence that cash has become more attractive recently against the backdrop of news about a strong economy and there is reason to continue the Fed's tough policy.
Will the downtrend in the gold market continue? Fundamentally, there are prerequisites for this. On the technical side, the price is approaching the trend line of the parallel channel (1), as well as the level (2) of the A→B half-growth. Together, these lines can at least slow down the decline.
By the way, the “Rich Dad” author Robert Kiyosaki this week predicted that gold in 2025 will cost $5,000. And CNBC draws attention to the fact that silver acts stronger than gold during periods of high inflation, so in 2023 silver can set a maximum in 9 years, reaching $30.
To take advantage of trends in the gold and silver 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 GOLD SETS A MINIMUM SINCE THE BEGINNING OF THE YEAR
On the morning of February 17, the price of gold futures on the COMEX exchange fell below $ 1,829 per ounce, thereby setting the lowest level since the beginning of 2023.
The price decline from the $1975 peak set on Feb. 2 is due to the strengthening of the dollar, evidence that cash has become more attractive recently against the backdrop of news about a strong economy and there is reason to continue the Fed's tough policy.
Will the downtrend in the gold market continue? Fundamentally, there are prerequisites for this. On the technical side, the price is approaching the trend line of the parallel channel (1), as well as the level (2) of the A→B half-growth. Together, these lines can at least slow down the decline.
By the way, the “Rich Dad” author Robert Kiyosaki this week predicted that gold in 2025 will cost $5,000. And CNBC draws attention to the fact that silver acts stronger than gold during periods of high inflation, so in 2023 silver can set a maximum in 9 years, reaching $30.
To take advantage of trends in the gold and silver 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.
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#MarketNews
PAYING FOR FACEBOOK?
Not really. Mark Zuckerberg announced the launch of the Meta Verified service, a paid verification service for Facebook and Instagram users. Verification with this service is optional, but it provides a number of advantages:
→ priority access to support
→ a blue checkmark next to the name
→ precedence in comments
The cost of verification will be $11.99 in the US when purchased on the website, and $15 in apps on iOS. The service will be available initially in Australia and New Zealand, and then in other countries.
Thus, the social media giant is adopting the "paid blue checkmark" experiment that Elon Musk launched on Twitter — an experiment that caused a backlash at first, but is now becoming a trend.
Perhaps paid verification will help support the uptrend in META shares, which are significantly stronger than the S&P-500 index. Revenues from the new service should increase the company's profits in the long run, but should one buy shares right now?
There are 2 reasons to refrain:
→ the price is near the resistance line (1)
→ high volumes (2) indicate the likelihood of large players taking profits after a rally from the support line (3). This is confirmed by the subsequent bearish candle.
So the idea of waiting for a deeper pullback seems prudent.
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.
PAYING FOR FACEBOOK?
Not really. Mark Zuckerberg announced the launch of the Meta Verified service, a paid verification service for Facebook and Instagram users. Verification with this service is optional, but it provides a number of advantages:
→ priority access to support
→ a blue checkmark next to the name
→ precedence in comments
The cost of verification will be $11.99 in the US when purchased on the website, and $15 in apps on iOS. The service will be available initially in Australia and New Zealand, and then in other countries.
Thus, the social media giant is adopting the "paid blue checkmark" experiment that Elon Musk launched on Twitter — an experiment that caused a backlash at first, but is now becoming a trend.
Perhaps paid verification will help support the uptrend in META shares, which are significantly stronger than the S&P-500 index. Revenues from the new service should increase the company's profits in the long run, but should one buy shares right now?
There are 2 reasons to refrain:
→ the price is near the resistance line (1)
→ high volumes (2) indicate the likelihood of large players taking profits after a rally from the support line (3). This is confirmed by the subsequent bearish candle.
So the idea of waiting for a deeper pullback seems prudent.
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 #bitcoin
HAS A NEW BULL RUN STARTED IN BITCOIN?
A new bull market will begin when there is strong news from China. Cameron Winklevoss (one of the twins who founded the Gemini exchange and are believed to hold 70,000 bitcoins) hints at this in his tweet.
Cameron tweeted that the bullrun would start in the East, highlighting the global value of bitcoin. And the United States will only have 2 options: accept cryptocurrencies or stay behind.
It turns out that if there were no particularly high-profile news from China in 2023, then it is premature to consider the current rally as a full-scale bull market (or its beginning), according to Cameron.
But BTCUSD continues to show signs of strength. The rollback to point C after the growth of A→B was the classic 50%. It looks like the bulls are getting serious about breaking the $25k resistance level (which we wrote about earlier). If they succeed, the rate could rise to the line (1) to $28k within a month.
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.
HAS A NEW BULL RUN STARTED IN BITCOIN?
A new bull market will begin when there is strong news from China. Cameron Winklevoss (one of the twins who founded the Gemini exchange and are believed to hold 70,000 bitcoins) hints at this in his tweet.
Cameron tweeted that the bullrun would start in the East, highlighting the global value of bitcoin. And the United States will only have 2 options: accept cryptocurrencies or stay behind.
It turns out that if there were no particularly high-profile news from China in 2023, then it is premature to consider the current rally as a full-scale bull market (or its beginning), according to Cameron.
But BTCUSD continues to show signs of strength. The rollback to point C after the growth of A→B was the classic 50%. It looks like the bulls are getting serious about breaking the $25k resistance level (which we wrote about earlier). If they succeed, the rate could rise to the line (1) to $28k within a month.
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.
