#MarketNews #TSLA #stockmarket

​Market Analysis: S&P-500 Has Officially Ended the Bear Market

As of yesterday's trading session, the S&P 500 rose above 20% from the October 2022 low, a common trigger to believe that the bear market is over. By the way, according to Barron's, the decline lasted 248 trading days and was the longest since 1948.

To a large extent, the rise in the S&P 500 index, which ended the bear market, was due to the AI-related boom:

→ NVDA's share price is up about 170%.
→ META's share price is up about 110%.
→ MSFT's share price is up about 40%.

We also draw your attention to the action of the TSLA share price. It has risen by 115% since the beginning of the year, the bulls are approaching the upper limit (1) of the descending channel, which has been in effect since the fall of 2021. Also, the price of TSLA is fixed above the level of USD 215 per share, which previously served as both important resistance and support.

The bullish momentum this week was helped by the information that Tesla sent out a document to its partners, which reported the planned production volume of Cybertrack in the amount of 375k units per year — more than previously expected by Wall Street analysts. The expected product may go on sale at the end of the Q3.

In premarket trading, TSLA's share price hit USD 245 today, although the WSJ survey puts the average TSLA price predicted by analysts at the end of 2023 at around USD 200. This discrepancy can be taken as an argument that the market is overheating and suggesting that TSLA's share price is vulnerable to a pullback.

To benefit from trends in the TSLA market and stocks of other 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #tradingforex

AUD/NZD and EUR/GBP Weekly Chart Outlook

🔸The Aussie Dollar started a recovery wave from the 1.0600 support against the New Zealand Dollar.
🔸There is a key bullish trend line forming with support near 1.0600 on the weekly chart of AUD/NZD at FXOpen.
🔸EUR/GBP started a major decline from the 0.9000 resistance zone.
🔸It traded below a major bullish trend line with support near 0.8720 on the weekly chart at FXOpen.
https://cutt.ly/vweQQxpO

To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.

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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 #stockmarket #AAPL

Weekly Market Wrap With Gary Thomson : PRICE OF BRENT OIL, S&P-500 , AAPL ANALYSIS, NATURAL GAS

Watch FXOpen's June 5 - 9 Weekly Market Wrap Video

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.

🔸The price of Brent oil rises after Saudis’ decision. “This market needs stabilisation,” Saudi Energy Minister says
🔸S&P-500: historical imbalance. Why is it dangerous?
🔸AAPL Analysis: ‘Zombies’ take a big bite of Apple. All-time high over already?
🔸Natural Gas Analysis: Third lowest value of the year about to be fuelled by optimism?

Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen.
Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

https://cutt.ly/HweEtnBL

To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.

⚠️

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 #GBPUSD

​Market Analysis. GBP/USD: A Week Full of News Begins

The following events may affect the GBP/USD rate:

→ Tue: 09:00 (GMT+3) – Claimant Count Change (UK labor market indicator)
→ Tue: 15:30 (GMT+3) - Consumer Price Index (indicator of inflation in the US)
→ Tue: 17:00 (GMT+3) – Speech by the Governor of the Bank of England
→ Wed: 09:00 (GMT+3) - UK GDP
→ Wed: 15:30 (GMT+3) – Producer Price Index (US inflation indicator)
→ Wed: 21:00 (GMT+3) – Fed rate decision (!)
→ Thu: 15:30 (GMT+3) – News on unemployment and retail sales in the US


The GBP/USD chart shows that so far the market is more bullish than bearish, because:
→ rate dynamics fit into the uplink (shown in blue)
→ on Monday morning, it looks like a bullish breakout test pattern of the median line (1) of this channel is forming.

However, a piece of important news for both the UK and the US could drastically change the existing balance of supply and demand. Get ready for bursts of volatility with the reliable broker FXOpen.

⚠️

CFDs are complex instruments and come with a high risk of losing your money.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #forex

Market Analysis: GBP/USD Consolidates Gains, USD/CAD Faces Hurdle

🔸 The British Pound started a strong increase above the 1.2440 resistance zone.
🔸 There is a key bullish trend line forming with support near 1.2540 on the hourly chart of GBP/USD at FXOpen.
🔸 USD/CAD is correcting losses from the 1.3310 support zone.
🔸 There is a major bearish trend line forming with resistance near 1.3350 on the hourly chart at FXOpen.

https://cutt.ly/Wwe0HQIV

To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.

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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 #inflation

​Market Analysis: Wall Street Optimistic ahead of Inflation News

The price of the E-mini S&P 500 is at its highs since the beginning of the year, showing the optimism of market participants ahead of the publication of the US consumer price index (CPI) on Tuesday, 15:30 GMT + 3, and producer price index (PPI) data, which will be published in Wednesday, 15:30 GMT+3.

The rise of the E-mini S&P 500 today to some extent reflects expectations that indicators will show a slowdown in inflation:
→ CPI: previous month = 4.9%, forecast = 4.1%;
→ PPI: previous month = 0.2%, forecast = -0.1%;

Reuters writes that there are high expectations in the stock markets that the monetary policy cycle may approach its peak. Today, the likelihood that the Federal Reserve Monetary Policy Committee (FOMC) will keep rates at a meeting this week is estimated at 72%.

On a wave of optimism, the E-mini S&P 500 may reach the upper limit (1) of the rising channel, which runs around the round level of 4,400. However, important inflation data with the subsequent Fed decision may sharply cool market sentiment — be prepared for bursts of volatility.

To benefit from price changes in the E-mini S&P 500, 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #binance

​Clients Fleeing Binance

According to various estimates, from USD 2.36 billion to USD 3.35 billion was withdrawn from the largest cryptocurrency exchange in 1 week. The head of the exchange, Changpeng Zhao, said that the drop in the balance could be exaggerated due to the depreciation of cryptocurrencies against the dollar, but fears are growing.

Hearings will be held today to freeze the assets of the Binance.US exchange in a lawsuit filed by the SEC. By the way, Binance also received a complaint from regulators in Nigeria, a country leading in the adoption of cryptocurrencies in Africa.

Cryptocurrency market enthusiasts are given hope by a bill introduced yesterday by Congressmen Warren Davids and Tom Emmer, which involves the restructuring of the SEC and the dismissal of its head, Gary Gensler. However, believing that this will happen may be too naive.

In one week after the lawsuits from the SEC, the market capitalization of crypto decreased by approximately USD 75 billion. The decline leaders are crypto assets that the SEC classified as securities - ADA, BNB, MATIC and others - about 60 assets in total. Fortunately for enthusiasts, ETH and BTC are not among them.

However, the price of bitcoin is under pressure. The BTC/USD rate has broken through the ascending channel, tested it (as we indicated), and is near an important support around USD 25k. It could be breached if there is a decision to freeze Binance.US funds, or news about the US economy that affects the value of the US dollar.

To benefit from rising and falling prices of cryptocurrencies, and not to worry about the safety of your funds, 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.

#MarketNews #tradingforex

​Market Analysis: USD/CNH Reaches Year-to-date High

Over the past 2 months, CNH has appreciated about 4.4% against the US dollar, reflecting the differences in monetary policies in the world's two largest (and competing) economies.

Yesterday's statistics showed a decrease in inflation in the US, but its level is still far from the target values. It is expected that the Fed at today's meeting will take a break after 10 consecutive increases in the key interest rate, keeping the prospect of raising it until the end of the year. The decision will be published at 21:00 GMT+3, followed by Powell's press conference at 21:30.

In China, the central bank lowered key short-term interest rates on Tuesday. It is expected that rates on medium-term loans may be lowered on Thursday. Barclays predicts that the Central Bank of China will cut rates every quarter in 2023, as economic growth after the lifting of restrictions due to Covid is disappointing.

With China stimulating the economy and curbing inflation by shrinking the US economy, USD/CNH hit its highest since the start of the year, trading near 7.18 today. Thus, the quote is fixed above the level of 7.15, which acted as resistance at the beginning of the month.

The USD/CNH chart shows that the rate is moving within the ascending channel along its median line. The WSJ writes that the difference in US and Chinese monetary policy may continue to put pressure on the weakening yuan.

To benefit from 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #bitcoin #BTCUSD

​Market Analysis. BTC/USD: Bears Attack the Psychological Level

Last night, the price of bitcoin fell below USD 25k for the first time since mid-March. And the bitcoin chart this morning shows sellers breaking through yesterday's low.

There can be two fundamental reasons for the dominance of sellers:
→ yesterday's press conference of the head of the US Federal Reserve (more details in the next post);
→ claims against the Binance and Coinbase exchanges by the US SEC regulator, which declared about 60 crypto assets as securities.

We wrote on June 13 that after the bearish breakout of the ascending channel (1) and the test of this breakout (2), the price of bitcoin could break through the USD 25k support level from top to bottom.

Could the now-forming USD 25k bearish breakout be false?

There are 3 arguments in favor of this idea:
→ previously this level served as resistance – from the point of view of technical analysis, now it should support the market;
→ the price of bitcoin may receive support from the lower border of the channel shown in red;
→ for the price of bitcoin, punctures of psychological levels are quite typical (for example, punctures from bottom to top of USD 25k in the second half of February).

More confidence from the US authorities on this list could add confidence to the bulls, but so far the situation leaves much to be desired.

To benefit from the rise and fall of cryptocurrencies, 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.

#MarketNews #xauusd #bitcoin

​Market Reaction to the Fed's Decision

Yesterday the Fed (as expected) kept the interest rate unchanged (after a series of 10 increases). However, the opinion of market participants that the rate peak has been reached has been called into question. At the Jerome Powell's press conference , it became known that:

→ the majority of FOMC members are against the rate cut;
→ there may be another increase at the end of the year;
→ high inflation situation may last 2 years.

The markets reacted with a rise in the US dollar. Accordingly, the currencies fell in pairs with the US dollar. Gold also fell in price to a minimum in 3 months — like bitcoin, by the way, and this is not the only similarity in the behavior of the price of gold and the main cryptocurrency.

Note that on the XAU/USD chart, a picture is emerging that a few days ago was formed on the bitcoin price chart (see the previous post).

The price of gold has broken through the ascending channel (shown in blue), formed a breakout test and is moving within the descending channel (shown in red). If we see a continuation of the dynamics shown by bitcoin in the gold market, then XAU/USD may drop to the lower border of the descending channel.

To benefit from trends in the world's major 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.

#MarketNews #EURUSD

​EUR/USD Analysis: +1.4% in 2 Days

The current high growth rate, which was last seen in November 2022, was the result of decisions by central banks:

→ on Wednesday, the US Federal Reserve kept the interest rate at 5.25%;
→ and on Thursday, the ECB raised the rate from 3.75% to 4%. Eurozone inflation will remain "too high for too long," Lagarde said. The possibility of a rate hike in July is "very likely".

If the Fed started to apply the tightening policy earlier and came to a pause in a series of rate hikes faster, in turn the ECB is taking similar actions, but with some lag in time.

On Friday morning, the EUR/USD rate reached 1.096. The EUR/USD chart shows that:

→ price dynamics continues to develop an upward channel (shown in blue);
→ the EUR/USD rate is approaching the psychological mark of 1.1. If in February the bulls suffered a quick setback (A), and in April-May they managed to linger (B) around this mark, then the continuation of the current momentum can lead to a successful bullish breakout and fixing the rate above 1.1.

To benefit from 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #sp500 #stockmarket

​Market Analysis: E-mini S&P 500 Up about 6% Since the Beginning of the Month

Worries about a banking crisis and a recession amid high inflation seem to be a thing of the past. This week, the E-mini S&P 500 returned to its March 2022 levels, having recouped all the losses since the Fed's first rate hike.

According to UBS analysts, the current growth of indices in the stock market is associated with “inflation of greed”. That is, under the guise of rising costs, companies are increasingly raising prices for goods and services, seeking to increase earnings. This increases the profitability of their business and leads to an increase in the value of the shares.

According to FactSet, the latest reporting season was the highest actual performance in 2 years compared to analysts' expectations, with almost 80% of companies reporting first-quarter earnings beat expectations.

The E-mini S&P 500 chart shows the index rising within an ascending channel (shown in blue) that begins in 2022. A week of important news led to a bullish breakout of an important top of last summer, which opens up the prospect of growth to the upper border of the mentioned channel.

To benefit from the rise and fall of the E-mini S&P 500 and other stock market instruments, 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #tradingforex

Market Analysis: AUD/USD and NZD/USD Regain Strength

🔸 The Aussie Dollar started a fresh increase above the 0.6780 and 0.6830 levels against the US Dollar.
🔸 There is a key bullish trend line forming with support near 0.6830 on the hourly chart of AUD/USD at FXOpen.
🔸 NZD/USD is gaining bullish momentum above the 0.6200 support.
🔸 There is a major bullish trend line forming with support near 0.6200 on the hourly chart of NZD/USD at FXOpen.

https://cutt.ly/gwrGD1T9

To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.

⚠️

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 #stockmarket

Weekly Market Wrap With Gary Thomson : USD/CNH, MSTF ANALYSIS, FED'S DECISION.

Watch FXOpen's June 12 - 16 Weekly Market Wrap Video

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
🔸 Market Analysis: Wall Street optimistic ahead of inflation news
🔸 USD/CNH reaches year-to-date high
🔸 MSFT analysis: Will Microsoft rally now the acquisition is off the table?
🔸 Market reaction to the Fed's decision. What became known at Powell’s press conference
Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen.
Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

https://cutt.ly/lwrLQi92

To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.

⚠️

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 #stockmarket

​Market Analysis: INTC Shares Up 16% in Just One Week

INTC shares have underperformed in the tech sector for years (due to equipment obsolescence and a lack of innovation as well), but last week was the best week since July 2009. The reason for the rise is related to the hype around AI.

According to rumors, the company has released a new processor that shows good results when training neural networks. And one analyst opined that Intel could gain a competitive advantage from its acquisition of chip maker Habana Labs/Gaudi.

INTC's stock chart shows that INTC's stock price bounced off the lower end of a long-term up channel after hovering between USD 25 and USD 30 per share for a long time. It was probably an accumulation range when large market participants formed an investment position. Now we can expect the USD 30 level to serve as support. On the other hand, the strong level of USD 42.50 per share of INTC starting in 2018 could provide resistance.

On Friday, Morgan Stanley analyst Joseph Moore raised its price target for Intel shares to USD 38 from USD 31. But if the bulls continue to act as actively, the target levels for the INTC stock may be raised again.

To benefit from trends in the technology 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #forex #USDJPY

​Market Analysis: USD/JPY at the High of the Year

This morning, the Japanese currency weakened to 142.25 yen per US dollar for the first time since November 2022.

This is a consequence of the difference in the monetary policies of the two countries. Last week, the Fed, although it paused in raising the rate, said that it could be raised before the end of the year. On the other hand, the Bank of Japan on Friday maintained its commitment to ultra-soft monetary policy.

The USD/JPY chart shows that the rate is moving within a long-term ascending channel (shown in blue), and today it is near its median line — it can serve as resistance, which can at least slow down the growth of the rate. Or even promote a pullback within the channel shown in yellow.

However, the series of higher lows that has been going on since March 2023 suggests that bulls are dominating the USD/JPY market and may be trying to break the median line.

To benefit from 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #BTCUSD #bitcoins

​Market Analysis. BTCUSD: Positivity Has Returned to the Markets, But for How Long?

The price of bitcoin is rising to the highs of June after a sharp drop that happened due to SEC lawsuits against the Binance and Coinbase exchanges.

Fortunately for crypto investors, the situation did not go according to the worst-case scenario. The court did not freeze Binance.US funds, giving the regulator and exchanges the opportunity to find a compromise. But if it does, what kind of compromise will it find and when? It is not surprising that we will be able to witness the massive relocation of crypto companies from the US:

→ To the UK. This week, the House of Lords of England approved the FSMB cryptocurrency regulation project, which has been under consideration since June 2022. Now the document must be approved in Parliament and sent to the king for signature. This month, by the way, venture capital firm a16z announced plans to open its first office in London later this year, citing a more predictable business environment.

→ To the UAE. VARA, the world's first independent regulator of virtual assets, operates there. As of January 2023, there were over 500 cryptocurrency startups operating in Dubai.

→ To Hong Kong, where the Securities and Futures Commission (SFC) approved a loyal licensing regime for virtual asset trading platforms.

→ To Europe, where the principles of regulation of the cryptocurrency market are laid down in Markets in Crypto Assets (MiCA).

Meanwhile, the bitcoin chart shows that the market has formed a false breakout of the USD 25k psychological level. We wrote about this option on June 15th.

After the puncture, against the backdrop of a weakening dollar and news about crypto regulation, the price of bitcoin rose to USD 27k per coin. However, the upside momentum may fade as it approaches 27,800, where the 50% of the A→B decline lies. In addition, the activity of the bears can be facilitated by the upper border of the descending channel (shown in red).

To benefit from bitcoin price trends, 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.

#MarketNews #ftse100

​Market Analysis: FTSE 100 on Decline, Reacting to News about Inflation in the UK

CPI (Consumer Price Index) was 8.7% in annual terms (8.4% — forecast, 8.7% last month).

Core CPI (excluding prices for food, energy, tobacco and alcohol) rose to 7.1% in annual terms (6.8% — forecast, 6.8% last month). This is the highest core inflation since 1992.

News of persistently high inflation may have an impact on the decision of the Bank of England on the value of the interest rate, it will be known tomorrow at 14:00 GMT+3. Recall that in the fight against inflation over the past 18 months, the Bank of England raised the rate from 0.1% to 4.5%. A further increase in the rate, according to CNBC, is fraught with the development of a mortgage crisis.

The chart of the FTSE 100 stock index shows negative dynamics. Today, the price of the FTSE 100 fell sharply to the psychological level of 7,500. Note that this happened after testing the level of 7,680, which previously served as support, and now resists the growth of the FTSE 100 index. Perhaps, in conditions of increased volatility against the background of tomorrow's meeting of the Bank of England, the bears will take a new attack on the psychological level 7,500. If successful, the price of the FTSE 100 may drop to the lower line of the descending channel (shown in red).

To benefit from the rise and fall of the FTSE 100 index, 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#MarketNews #tradingtips

Market Analysis: EUR/USD Corrects Gains While USD/CHF Aims Higher

🔸The Euro gained pace after it broke the 1.0860 resistance against the US Dollar.
🔸 There is a major bullish trend line forming with support near 1.0905 on the hourly chart of EUR/USD at FXOpen.
🔸 USD/CHF is recovering higher above the 0.8945 resistance zone.
🔸 There is a key rising channel forming with support near 0.8970 on the hourly chart at FXOpen.

https://cutt.ly/lwtWcUOp


To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.

⚠️

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 #BTCUSD

​Market Analysis: Why the Price of Bitcoin Rose to USD 30k

Yesterday, the BTC price topped USD 30k for the first time since April. There may be several reasons, among them:

→ Powell's speech to lawmakers on Capitol Hill yesterday. The Fed chief said further rate hikes are a pretty good guess as to where the Fed is heading. The dollar index reacted to his hawkish statement with a fall. At the same time, it pushed up the bitcoin rate against the dollar. In addition, Powell paid tribute to cryptocurrencies, saying that they are stable and adding that the Fed views stablecoins as a form of money;
→ after the negative news background related to the Fed lawsuits, positive events followed, indicating the interest of institutional firms in the US in the crypto market. For example, the BlackRock fund (more than USD 8 trillion under management) filed an application last week to launch an ETF based on bitcoin. And a new cryptocurrency exchange, EDX Markets, backed by Citadel Securities, Fidelity and Schwab, has gone live;
→ change in the balance of supply and demand in the market after the price of bitcoin breaks through the psychological level of USD 25k.

The BTC/USD chart shows that the rise in the price of bitcoin this week met resistance (1) from the upper line of the descending channel, shown in red. But after yesterday's violent rally, the price reached a resistance block, which is formed by:
the psychological level of USD 30k for bitcoin;
line (2) parallel channel.

It is possible that in the wake of the hype, the bulls will attack the high of the year, but at the same time, their success increases the likelihood of a correction.

To benefit from the rise and fall of the price of bitcoin, 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 article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.