#GBPUSD #EURGBP #forextrading #tradingtips #marketanalysis
Market Analysis: GBP/USD Turns Bullish Again While EUR/GBP Drops More
GBP/USD is showing positive signs above 1.3440 and 1.3460. EUR/GBP declined and is now consolidating losses below 0.8680.
Important Takeaways for GBP/USD and EUR/GBP Analysis Today
· The British Pound started a fresh increase above 1.3420 to enter a positive zone.
· There is a bullish trend line forming with support at 1.3450 on the hourly chart of GBP/USD at FXOpen.
· EUR/GBP is trading in a bearish zone below the 0.8660 pivot level.
· There is a connecting bearish trend line forming with resistance near 0.8650 on the hourly chart at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the pair remained well-bid above 1.3350. The British Pound started a decent increase above 1.3400 against the US Dollar.
The bulls were able to push the pair above the 50-hour simple moving average and 1.3440. The pair even climbed above 1.3480. A high was formed at 1.3490, and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward move from the 1.3395 swing low to the 1.3490 high.
On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.3490. The next hurdle for the bulls could be 1.3500. A close above 1.3500 could open the doors for a move toward 1.3550. Any more gains might send GBP/USD toward 1.3600.
On the downside, the bulls might remain active near 1.3450. There is also a bullish trend line forming with support at 1.3450. If there is a downside break below 1.3450, the pair could accelerate lower.
The first major support could be at 1.3430 and the 61.8% Fib retracement, below which the pair could test 1.3470. The next key area for the bulls could be 1.3415, below which the pair could test 1.3395. Any more losses could lead the pair toward 1.3350.
Market Analysis: GBP/USD Turns Bullish Again While EUR/GBP Drops More
GBP/USD is showing positive signs above 1.3440 and 1.3460. EUR/GBP declined and is now consolidating losses below 0.8680.
Important Takeaways for GBP/USD and EUR/GBP Analysis Today
· The British Pound started a fresh increase above 1.3420 to enter a positive zone.
· There is a bullish trend line forming with support at 1.3450 on the hourly chart of GBP/USD at FXOpen.
· EUR/GBP is trading in a bearish zone below the 0.8660 pivot level.
· There is a connecting bearish trend line forming with resistance near 0.8650 on the hourly chart at FXOpen.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD at FXOpen, the pair remained well-bid above 1.3350. The British Pound started a decent increase above 1.3400 against the US Dollar.
The bulls were able to push the pair above the 50-hour simple moving average and 1.3440. The pair even climbed above 1.3480. A high was formed at 1.3490, and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward move from the 1.3395 swing low to the 1.3490 high.
On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.3490. The next hurdle for the bulls could be 1.3500. A close above 1.3500 could open the doors for a move toward 1.3550. Any more gains might send GBP/USD toward 1.3600.
On the downside, the bulls might remain active near 1.3450. There is also a bullish trend line forming with support at 1.3450. If there is a downside break below 1.3450, the pair could accelerate lower.
The first major support could be at 1.3430 and the 61.8% Fib retracement, below which the pair could test 1.3470. The next key area for the bulls could be 1.3415, below which the pair could test 1.3395. Any more losses could lead the pair toward 1.3350.
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EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a steady decline from well above 0.8700. The Euro traded below 0.8680 against the British Pound.
The EUR/GBP chart suggests that the pair even declined below 0.8660 and the 50-hour simple moving average. A low was formed at 0.8630, and the pair is now consolidating losses below the 23.6% Fib retracement level of the downward move from the 0.8730 swing high to the 0.8630 low.
The pair is now facing resistance near a connecting bearish trend line at 0.8650. The next major barrier for the bulls could be 0.8665 and the 38.2% Fib retracement.
A close above 0.8665 might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8670. Any more gains might send the pair toward the 0.8730 pivot. The main hurdle for the bulls might be at 0.8780.
Immediate support could sit near 0.8630. The first key zone migbt be at 0.8600. A downside break below 0.8600 might call for more downsides. In the stated case, the pair could drop toward 0.8565.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a steady decline from well above 0.8700. The Euro traded below 0.8680 against the British Pound.
The EUR/GBP chart suggests that the pair even declined below 0.8660 and the 50-hour simple moving average. A low was formed at 0.8630, and the pair is now consolidating losses below the 23.6% Fib retracement level of the downward move from the 0.8730 swing high to the 0.8630 low.
The pair is now facing resistance near a connecting bearish trend line at 0.8650. The next major barrier for the bulls could be 0.8665 and the 38.2% Fib retracement.
A close above 0.8665 might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8670. Any more gains might send the pair toward the 0.8730 pivot. The main hurdle for the bulls might be at 0.8780.
Immediate support could sit near 0.8630. The first key zone migbt be at 0.8600. A downside break below 0.8600 might call for more downsides. In the stated case, the pair could drop toward 0.8565.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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#EURJPY #forextrading #tradingtips #marketanalysis #MarketNews
EUR/JPY: Yen Recovers April Losses as the Market Searches for a New Equilibrium
Fundamental backdrop
In late April 2026, Japan’s Ministry of Finance moved from verbal warnings to direct action, carrying out a currency intervention worth roughly ¥5.5 trillion ($35 billion) — the first since July 2024. The move was triggered by the yen weakening beyond the psychologically significant level of 160 against the dollar.
Additional context comes from the divergence in monetary policy between the ECB and the Bank of Japan: the European regulator continues to leave the door open to tighter policy amid rising inflation expectations, while Tokyo maintains a cautious normalisation path without providing clear guidance on the timing of its next move.
Technical picture
After reaching a local peak near 188 in mid-April, the EUR/JPY pair experienced two impulsive declines. The first occurred on 30 April, when the candlestick recorded an abnormal spike in vertical volume — a direct consequence of the Japanese Ministry of Finance intervention, which saw the yen strengthen by roughly 3% during the session. A second bout of sharp selling pressure followed in early May.
As a result, a horizontal profile formed with boundaries at 183.800–185.000, while the point of control is concentrated within the 184.50–184.70 range.
The price is now testing the upper boundary of the profile — an area where sellers have already shown activity on two separate occasions. The 182 region has held since February and could once again come into focus if pressure resumes: both May sell-offs reversed precisely from this zone, failing to break lower. Meanwhile, the 185.500 area could act as resistance should the current advance continue.
RSI + MA readings stand at 57 / 55 / 53 respectively — all three lines remain in neutral territory, with no clear signs of momentum.
Key takeaways
The current situation is shaped by the clash between interest-rate differentials and the willingness of the Japanese authorities to intervene again if necessary. For now, with RSI offering no directional impulse, the point of control and the profile boundaries remain the key reference levels for assessing the current trading range.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
EUR/JPY: Yen Recovers April Losses as the Market Searches for a New Equilibrium
Fundamental backdrop
In late April 2026, Japan’s Ministry of Finance moved from verbal warnings to direct action, carrying out a currency intervention worth roughly ¥5.5 trillion ($35 billion) — the first since July 2024. The move was triggered by the yen weakening beyond the psychologically significant level of 160 against the dollar.
Additional context comes from the divergence in monetary policy between the ECB and the Bank of Japan: the European regulator continues to leave the door open to tighter policy amid rising inflation expectations, while Tokyo maintains a cautious normalisation path without providing clear guidance on the timing of its next move.
Technical picture
After reaching a local peak near 188 in mid-April, the EUR/JPY pair experienced two impulsive declines. The first occurred on 30 April, when the candlestick recorded an abnormal spike in vertical volume — a direct consequence of the Japanese Ministry of Finance intervention, which saw the yen strengthen by roughly 3% during the session. A second bout of sharp selling pressure followed in early May.
As a result, a horizontal profile formed with boundaries at 183.800–185.000, while the point of control is concentrated within the 184.50–184.70 range.
The price is now testing the upper boundary of the profile — an area where sellers have already shown activity on two separate occasions. The 182 region has held since February and could once again come into focus if pressure resumes: both May sell-offs reversed precisely from this zone, failing to break lower. Meanwhile, the 185.500 area could act as resistance should the current advance continue.
RSI + MA readings stand at 57 / 55 / 53 respectively — all three lines remain in neutral territory, with no clear signs of momentum.
Key takeaways
The current situation is shaped by the clash between interest-rate differentials and the willingness of the Japanese authorities to intervene again if necessary. For now, with RSI offering no directional impulse, the point of control and the profile boundaries remain the key reference levels for assessing the current trading range.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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#USDJPY #usdcad #forextrading #marketanalysis #forex
Geopolitical Risks Support the Dollar Ahead of Fresh US Data
At the start of the week, the US currency continues to trade near significant levels amid ongoing uncertainty surrounding negotiations between the United States and Iran. Markets are closely monitoring reports suggesting a possible prolongation of the negotiation process and an increased US military presence in the Middle East, both of which are supporting demand for safe-haven assets, including the dollar.
Additional support for the US currency comes from rising US Treasury yields and expectations surrounding upcoming macroeconomic data releases, which could influence further market expectations regarding Federal Reserve policy.
At the same time, the dollar’s movement remains mixed. Despite the recent strengthening of USD/JPY and USD/CAD, both pairs have approached important technical resistance levels, where buying activity is beginning to slow. The market is now assessing whether the current momentum can develop into a broader continuation of dollar strength, or whether the advance in the US currency will remain merely a short-term reaction to geopolitical risks.
USD/JPY
Buyers in USD/JPY have managed to establish the pair above the key 159.00 level. If the 158.70–159.00 range retains its status as support, further growth towards 159.80–160.20 remains possible. A loss of this zone could trigger a downward correction towards 158.00–157.80.
Key events for USD/JPY:
▪️today at 11:00 (GMT+3): speech by Dallas Fed representative Lorie K. Logan;
▪️today at 15:15 (GMT+3): US ADP non-farm employment change;
▪️tomorrow at 02:50 (GMT+3): foreign investment in Japanese equities.
Geopolitical Risks Support the Dollar Ahead of Fresh US Data
At the start of the week, the US currency continues to trade near significant levels amid ongoing uncertainty surrounding negotiations between the United States and Iran. Markets are closely monitoring reports suggesting a possible prolongation of the negotiation process and an increased US military presence in the Middle East, both of which are supporting demand for safe-haven assets, including the dollar.
Additional support for the US currency comes from rising US Treasury yields and expectations surrounding upcoming macroeconomic data releases, which could influence further market expectations regarding Federal Reserve policy.
At the same time, the dollar’s movement remains mixed. Despite the recent strengthening of USD/JPY and USD/CAD, both pairs have approached important technical resistance levels, where buying activity is beginning to slow. The market is now assessing whether the current momentum can develop into a broader continuation of dollar strength, or whether the advance in the US currency will remain merely a short-term reaction to geopolitical risks.
USD/JPY
Buyers in USD/JPY have managed to establish the pair above the key 159.00 level. If the 158.70–159.00 range retains its status as support, further growth towards 159.80–160.20 remains possible. A loss of this zone could trigger a downward correction towards 158.00–157.80.
Key events for USD/JPY:
▪️today at 11:00 (GMT+3): speech by Dallas Fed representative Lorie K. Logan;
▪️today at 15:15 (GMT+3): US ADP non-farm employment change;
▪️tomorrow at 02:50 (GMT+3): foreign investment in Japanese equities.
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#usdcad #USDJPY #marketanalysis #MarketNews
USD/CAD
USD/CAD is also trading within a range after reaching major resistance near 1.3800. Should strong US data be released or demand for the dollar remain firm, the pair may consolidate above 1.3820 and continue rising towards 1.3870. Conversely, weaker interest in the US currency could push the pair below 1.3800 and towards the 1.3750–1.3770 area.
Key events for USD/CAD:
▪️today at 15:30 (GMT+3): Canadian wholesale sales data;
▪️today at 23:30 (GMT+3): weekly US crude oil inventories from the American Petroleum Institute (API);
▪️tomorrow at 15:30 (GMT+3): Canada’s current account balance.
Overall, the dollar continues to retain an advantage amid geopolitical uncertainty and expectations of fresh macroeconomic signals from the United States. Nevertheless, the approach of USD/JPY and USD/CAD towards key technical resistance levels increases the likelihood of the current momentum slowing, while the next directional move will largely depend on incoming US economic data and developments surrounding negotiations between the US and Iran.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
USD/CAD
USD/CAD is also trading within a range after reaching major resistance near 1.3800. Should strong US data be released or demand for the dollar remain firm, the pair may consolidate above 1.3820 and continue rising towards 1.3870. Conversely, weaker interest in the US currency could push the pair below 1.3800 and towards the 1.3750–1.3770 area.
Key events for USD/CAD:
▪️today at 15:30 (GMT+3): Canadian wholesale sales data;
▪️today at 23:30 (GMT+3): weekly US crude oil inventories from the American Petroleum Institute (API);
▪️tomorrow at 15:30 (GMT+3): Canada’s current account balance.
Overall, the dollar continues to retain an advantage amid geopolitical uncertainty and expectations of fresh macroeconomic signals from the United States. Nevertheless, the approach of USD/JPY and USD/CAD towards key technical resistance levels increases the likelihood of the current momentum slowing, while the next directional move will largely depend on incoming US economic data and developments surrounding negotiations between the US and Iran.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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Market Analysis: EUR/USD Targets More Upside As USD/CHF Turns Higher Again
EUR/USD started a downside correction from 1.1650. USD/CHF is rising and might aim for a move toward 0.7880 or 0.7900.
Important Takeaways for EUR/USD and USD/CHF Analysis Today
▪️The Euro struggled to clear 1.1650 and corrected gains against the US Dollar.
▪️There is a key bullish trend line forming with support at 1.1630 on the hourly chart of EUR/USD at FXOpen.
▪️USD/CHF is showing positive signs above the 0.7830 zone.
▪️There was a break above a connecting bearish trend line with resistance at 0.7830 on the hourly chart at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair gained pace for a move above 1.1600. The Euro tested 1.1650 and recently corrected gains against the US Dollar.
The pair dipped below 1.1635 and the 38.2% Fib retracement level of the upward move from the 1.1588 swing low to the 1.1652 high. However, the bulls were active above 1.1620. There is also a key bullish trend line forming with support at 1.1630.
The pair is again above the 50-hour simple moving average. Immediate resistance on the upside could be 1.1650. The next key hurdle for the bulls might be 1.1675.
An upside break above 1.1675 might send the pair toward 1.1705. Any more gains might open the doors for a move toward 1.1740. If the bulls fail to push the pair above 1.1650, there could be another bearish reaction.
On the downside, immediate support on the EUR/USD chart might be near the trend line at 1.1630. The next major area of interest could be near the 50% Fib retracement level at 1.1620. A downside break below 1.1620 could send the pair toward 1.1550.
EUR/USD started a downside correction from 1.1650. USD/CHF is rising and might aim for a move toward 0.7880 or 0.7900.
Important Takeaways for EUR/USD and USD/CHF Analysis Today
▪️The Euro struggled to clear 1.1650 and corrected gains against the US Dollar.
▪️There is a key bullish trend line forming with support at 1.1630 on the hourly chart of EUR/USD at FXOpen.
▪️USD/CHF is showing positive signs above the 0.7830 zone.
▪️There was a break above a connecting bearish trend line with resistance at 0.7830 on the hourly chart at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair gained pace for a move above 1.1600. The Euro tested 1.1650 and recently corrected gains against the US Dollar.
The pair dipped below 1.1635 and the 38.2% Fib retracement level of the upward move from the 1.1588 swing low to the 1.1652 high. However, the bulls were active above 1.1620. There is also a key bullish trend line forming with support at 1.1630.
The pair is again above the 50-hour simple moving average. Immediate resistance on the upside could be 1.1650. The next key hurdle for the bulls might be 1.1675.
An upside break above 1.1675 might send the pair toward 1.1705. Any more gains might open the doors for a move toward 1.1740. If the bulls fail to push the pair above 1.1650, there could be another bearish reaction.
On the downside, immediate support on the EUR/USD chart might be near the trend line at 1.1630. The next major area of interest could be near the 50% Fib retracement level at 1.1620. A downside break below 1.1620 could send the pair toward 1.1550.
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USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair declined from the 0.7900 barrier and tested the 0.7810 zone. The US Dollar traded as low as 0.7808 and recently started a fresh increase against the Swiss Franc.
The pair climbed above 0.7820 and the 50-hour simple moving average. There was a break above the 50% Fib retracement level of the downward move from the 0.7903 swing high to the 0.7808 low. Besides, there was a break above a connecting bearish trend line with resistance at 0.7830.
The bulls are now facing hurdles near the 61.8% Fib retracement at 0.7865. The next major area of interest could be 0.7880. The main sell region could be near 0.7900.
If there is a clear break above 0.7900, the pair could start another increase. In the stated case, it could test 0.8000. If there is another decline, the pair might test the 50-hour simple moving average at 0.7835.
The first major support on the USD/CHF chart could be 0.7830. A downside break below 0.7830 might spark bearish moves. The next major support might be 0.7800. Any more losses may possibly open the doors for a move toward 0.7765 in the near term.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair declined from the 0.7900 barrier and tested the 0.7810 zone. The US Dollar traded as low as 0.7808 and recently started a fresh increase against the Swiss Franc.
The pair climbed above 0.7820 and the 50-hour simple moving average. There was a break above the 50% Fib retracement level of the downward move from the 0.7903 swing high to the 0.7808 low. Besides, there was a break above a connecting bearish trend line with resistance at 0.7830.
The bulls are now facing hurdles near the 61.8% Fib retracement at 0.7865. The next major area of interest could be 0.7880. The main sell region could be near 0.7900.
If there is a clear break above 0.7900, the pair could start another increase. In the stated case, it could test 0.8000. If there is another decline, the pair might test the 50-hour simple moving average at 0.7835.
The first major support on the USD/CHF chart could be 0.7830. A downside break below 0.7830 might spark bearish moves. The next major support might be 0.7800. Any more losses may possibly open the doors for a move toward 0.7765 in the near term.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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#NZDUSD #forextrading #tradingtips #marketanalysis
NZD/USD: RBNZ Decision Strengthens Expectations of Further Rate Hikes
Fundamental backdrop
On 27 May, the Reserve Bank of New Zealand kept the Official Cash Rate (OCR) unchanged at 2.25%, in line with market expectations. However, the decision proved finely balanced: the Monetary Policy Committee voted 3–3, with the final decision resting with Governor Anna Brehman.
In its updated rate projection path, the regulator signalled that the OCR could rise to around 2.8% by the end of the year, implying several rate hikes before year-end. Additional caution stems from the inflation backdrop: the conflict in the Middle East continues to keep inflation above the target range, while the central bank also warned about the weak pace of economic recovery. The split vote and the signal of likely future tightening supported the New Zealand dollar during the Asian session.
Technical picture
On the four-hour chart, NZD/USD displays a two-phase structure. In April, the pair established an upward trend: from the lows near 0.5680 at the beginning of the month, price gradually moved higher. The move culminated in early May with a peak around 0.5990, after which the trendline was broken to the downside and the pair entered a corrective phase, refreshing local lows near the 0.5815 area.
This was followed by a consolidation phase, during which the volume profile formed a point of control around 0.5870–0.5875, while the profile boundaries were established near 0.5910 and 0.5825.
At the time of writing, price is testing the upper boundary of the profile from below, and a breakout could draw market attention towards the 0.5945 area — the nearest resistance level. Should quotations return below the point of control, focus may shift towards the lower boundary of the profile at 0.5825, with a potential support zone located beneath it around 0.5815.
RSI + MAs currently show readings of 64 / 50 / 50. The oscillator remains noticeably above both moving averages and has not yet entered overbought territory, indicating the presence of a local bullish impulse. At the same time, the RSI moving averages themselves remain close to the neutral 50 mark, meaning that the character of the move will largely depend on how price reacts to the upper boundary of the profile.
Key takeaways
The split RBNZ vote and the updated rate outlook have created a situation in which the market may continue to reassess expectations as new New Zealand inflation data emerge. The technical picture reflects the same duality: the RSI curve points higher, yet the neutral positioning of its moving averages does not provide sufficient confirmation of a sustained upward trend.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
NZD/USD: RBNZ Decision Strengthens Expectations of Further Rate Hikes
Fundamental backdrop
On 27 May, the Reserve Bank of New Zealand kept the Official Cash Rate (OCR) unchanged at 2.25%, in line with market expectations. However, the decision proved finely balanced: the Monetary Policy Committee voted 3–3, with the final decision resting with Governor Anna Brehman.
In its updated rate projection path, the regulator signalled that the OCR could rise to around 2.8% by the end of the year, implying several rate hikes before year-end. Additional caution stems from the inflation backdrop: the conflict in the Middle East continues to keep inflation above the target range, while the central bank also warned about the weak pace of economic recovery. The split vote and the signal of likely future tightening supported the New Zealand dollar during the Asian session.
Technical picture
On the four-hour chart, NZD/USD displays a two-phase structure. In April, the pair established an upward trend: from the lows near 0.5680 at the beginning of the month, price gradually moved higher. The move culminated in early May with a peak around 0.5990, after which the trendline was broken to the downside and the pair entered a corrective phase, refreshing local lows near the 0.5815 area.
This was followed by a consolidation phase, during which the volume profile formed a point of control around 0.5870–0.5875, while the profile boundaries were established near 0.5910 and 0.5825.
At the time of writing, price is testing the upper boundary of the profile from below, and a breakout could draw market attention towards the 0.5945 area — the nearest resistance level. Should quotations return below the point of control, focus may shift towards the lower boundary of the profile at 0.5825, with a potential support zone located beneath it around 0.5815.
RSI + MAs currently show readings of 64 / 50 / 50. The oscillator remains noticeably above both moving averages and has not yet entered overbought territory, indicating the presence of a local bullish impulse. At the same time, the RSI moving averages themselves remain close to the neutral 50 mark, meaning that the character of the move will largely depend on how price reacts to the upper boundary of the profile.
Key takeaways
The split RBNZ vote and the updated rate outlook have created a situation in which the market may continue to reassess expectations as new New Zealand inflation data emerge. The technical picture reflects the same duality: the RSI curve points higher, yet the neutral positioning of its moving averages does not provide sufficient confirmation of a sustained upward trend.
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EUR/USD and GBP/USD Range-Bound Ahead of Key US Data
European currencies continue to trade within established ranges following the heightened volatility of recent weeks. Last week, both EUR/USD and GBP/USD declined before staging a recovery; however, the pairs are once again testing important support levels without developing a sustained directional impulse. Market participants remain cautious amid the absence of fresh geopolitical catalysts and ahead of key macroeconomic data releases from the United States.
Investor attention is primarily focused on the publication of US core Personal Consumption Expenditures (PCE) data, GDP figures, and durable goods orders. These indicators could significantly influence expectations regarding future Federal Reserve policy and determine the next direction for the dollar. Additional market influence is also coming from comments by Bank of England officials and European data on business activity and consumer confidence.
EUR/USD
EUR/USD continues to display sideways dynamics within the 1.1600–1.1660 range. Technical analysis of EUR/USD points to the possibility of a retest of last week’s low near 1.1570 should 1.1600 shift into resistance territory. A resumption of upward movement would only become likely after a confident break and consolidation above 1.1660.
Key events for EUR/USD:
▪️today at 11:00 (GMT+3): Italian consumer confidence index;
▪️today at 13:00 (GMT+3): Spanish business confidence index;
▪️today at 15:30 (GMT+3): US core Personal Consumption Expenditures (PCE) price index.
EUR/USD and GBP/USD Range-Bound Ahead of Key US Data
European currencies continue to trade within established ranges following the heightened volatility of recent weeks. Last week, both EUR/USD and GBP/USD declined before staging a recovery; however, the pairs are once again testing important support levels without developing a sustained directional impulse. Market participants remain cautious amid the absence of fresh geopolitical catalysts and ahead of key macroeconomic data releases from the United States.
Investor attention is primarily focused on the publication of US core Personal Consumption Expenditures (PCE) data, GDP figures, and durable goods orders. These indicators could significantly influence expectations regarding future Federal Reserve policy and determine the next direction for the dollar. Additional market influence is also coming from comments by Bank of England officials and European data on business activity and consumer confidence.
EUR/USD
EUR/USD continues to display sideways dynamics within the 1.1600–1.1660 range. Technical analysis of EUR/USD points to the possibility of a retest of last week’s low near 1.1570 should 1.1600 shift into resistance territory. A resumption of upward movement would only become likely after a confident break and consolidation above 1.1660.
Key events for EUR/USD:
▪️today at 11:00 (GMT+3): Italian consumer confidence index;
▪️today at 13:00 (GMT+3): Spanish business confidence index;
▪️today at 15:30 (GMT+3): US core Personal Consumption Expenditures (PCE) price index.
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GBP/USD
Following an upward correction, GBP/USD has once again come under pressure. However, the recent low near 1.3300 remains intact, preserving the likelihood of continued range-bound trading. Technical analysis of GBP/USD indicates the possibility of a test of the nearest support zone at 1.3370–1.3390. A break below this area could lead to a decline towards 1.3300, while a confident rebound from it may return the pair to the 1.3460–1.3500 range.
Key events for GBP/USD:
▪️today at 11:05 (GMT+3): speech by Bank of England Financial Policy Committee member Sarah Breeden;
▪️today at 15:30 (GMT+3): US GDP data;
▪️today at 17:00 (GMT+3): US new home sales.
Overall, EUR/USD and GBP/USD continue to trade in conditions of range-bound price action and subdued market activity. The further direction of European currencies will depend on the release of key US economic data, comments from central bank officials, and the broader dynamics of geopolitical risks across global markets.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
GBP/USD
Following an upward correction, GBP/USD has once again come under pressure. However, the recent low near 1.3300 remains intact, preserving the likelihood of continued range-bound trading. Technical analysis of GBP/USD indicates the possibility of a test of the nearest support zone at 1.3370–1.3390. A break below this area could lead to a decline towards 1.3300, while a confident rebound from it may return the pair to the 1.3460–1.3500 range.
Key events for GBP/USD:
▪️today at 11:05 (GMT+3): speech by Bank of England Financial Policy Committee member Sarah Breeden;
▪️today at 15:30 (GMT+3): US GDP data;
▪️today at 17:00 (GMT+3): US new home sales.
Overall, EUR/USD and GBP/USD continue to trade in conditions of range-bound price action and subdued market activity. The further direction of European currencies will depend on the release of key US economic data, comments from central bank officials, and the broader dynamics of geopolitical risks across global markets.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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FTSE 100: Correction Has Ended, but a New Impulse Has Yet to Form
Fundamental backdrop
The UK inflation report for April, published on 20 May, delivered unexpectedly positive figures: annual inflation slowed to 2.8% in April 2026 from 3.3% in March, coming in below the consensus forecast of 3.0% and marking the lowest reading since March last year.
Nevertheless, the relief is being viewed as temporary. The unresolved conflict involving Iran continues to exert pressure on oil prices, while the Bank of England maintains a cautious approach towards rate cuts, unwilling to move ahead of incoming inflation data.
Technical picture
From 8 April to mid-May, the FTSE 100 index (UK100 on FXOpen) remained in a corrective decline: from the 10,700 area, price moved actively lower, but was soon supported by demand, followed by a further compression of quotations around 10,150. In the latter part of May, the trendline was broken to the upside; however, the index failed to establish itself above the upper boundary of the current profile near 10,450 — the latest candlesticks are forming within the range between the POC zone and the aforementioned profile boundary.
The point of control (POC) is concentrated around 10,380–10,390, where the highest trading activity within the current range is located. Should price break higher from the profile, the 10,530 area could become a serious obstacle for buyers. In the event of renewed selling pressure, the lower boundary of the profile near 10,250 may come back into focus, while the 10,150 area represents the next significant reference point.
RSI + MAs currently show a reading of 43, with the indicator positioned below both moving averages (51 and 54), which also casts doubt on the strength of the breakout.
Key takeaways
The descending trendline has been broken, yet RSI remaining below its moving averages points to weak momentum. The nature of the next move will largely depend on how the market reacts to expected Bank of England signals regarding the future rate path against the backdrop of temporarily slowing inflation.
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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.
FTSE 100: Correction Has Ended, but a New Impulse Has Yet to Form
Fundamental backdrop
The UK inflation report for April, published on 20 May, delivered unexpectedly positive figures: annual inflation slowed to 2.8% in April 2026 from 3.3% in March, coming in below the consensus forecast of 3.0% and marking the lowest reading since March last year.
Nevertheless, the relief is being viewed as temporary. The unresolved conflict involving Iran continues to exert pressure on oil prices, while the Bank of England maintains a cautious approach towards rate cuts, unwilling to move ahead of incoming inflation data.
Technical picture
From 8 April to mid-May, the FTSE 100 index (UK100 on FXOpen) remained in a corrective decline: from the 10,700 area, price moved actively lower, but was soon supported by demand, followed by a further compression of quotations around 10,150. In the latter part of May, the trendline was broken to the upside; however, the index failed to establish itself above the upper boundary of the current profile near 10,450 — the latest candlesticks are forming within the range between the POC zone and the aforementioned profile boundary.
The point of control (POC) is concentrated around 10,380–10,390, where the highest trading activity within the current range is located. Should price break higher from the profile, the 10,530 area could become a serious obstacle for buyers. In the event of renewed selling pressure, the lower boundary of the profile near 10,250 may come back into focus, while the 10,150 area represents the next significant reference point.
RSI + MAs currently show a reading of 43, with the indicator positioned below both moving averages (51 and 54), which also casts doubt on the strength of the breakout.
Key takeaways
The descending trendline has been broken, yet RSI remaining below its moving averages points to weak momentum. The nature of the next move will largely depend on how the market reacts to expected Bank of England signals regarding the future rate path against the backdrop of temporarily slowing inflation.
Trade global index CFDs with zero commission and tight spreads*. Learn more about trading index CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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USD/CHF: Consolidation After the Trend
Fundamental backdrop
The Swiss franc remains influenced by two opposing forces. On the one hand, there is steady demand for safe-haven assets amid tariff-related risks stemming from the United States. On the other, the policy stance of the Swiss National Bank (SNB) continues to play a role: in March, the central bank kept its policy rate at zero and reaffirmed its readiness to intervene in the foreign exchange market to prevent excessive franc appreciation.
The Federal Reserve, for its part, is also taking a cautious approach to policy easing. In January, the Fed paused its rate-cutting cycle, citing persistent inflationary pressures. The divergence in the rhetoric of the two central banks has so far failed to provide either side with a sustained advantage.
Technical picture
The starting point of the current structure was the 0.7600 area, where USD/CHF formed a local bottom in late January. From 27 February to 31 March, an ascending trendline developed, accompanying the pair’s rise towards the 0.8050 area. In April, the trendline was broken, after which the pair transitioned into a sideways trading phase that remains in place today. The horizontal volume profile formed during this period identifies a point of control in the 0.7865–0.7875 range, where the market spent the greatest amount of time during the period under review.
At present, the price is positioned above the lower boundary of the profile and is testing it from above. The 0.7930 area could attract market participants’ attention should the pair continue to move higher. The 0.7800 region remains a potential reference point if a bearish move develops, as it represents the nearest support zone.
The RSI oscillator and its moving averages currently show readings of 37/46/47. The indicator remains below both moving averages; however, the averages themselves are still positioned in neutral territory, which should also be taken into account.
Key takeaways
The pair has completed its upward trend and entered a consolidation phase, while price is currently testing the lower boundary of the existing profile. The RSI and its moving averages stand at 37/46/47: the indicator remains below both moving averages, although the averages themselves are still located in neutral territory.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
USD/CHF: Consolidation After the Trend
Fundamental backdrop
The Swiss franc remains influenced by two opposing forces. On the one hand, there is steady demand for safe-haven assets amid tariff-related risks stemming from the United States. On the other, the policy stance of the Swiss National Bank (SNB) continues to play a role: in March, the central bank kept its policy rate at zero and reaffirmed its readiness to intervene in the foreign exchange market to prevent excessive franc appreciation.
The Federal Reserve, for its part, is also taking a cautious approach to policy easing. In January, the Fed paused its rate-cutting cycle, citing persistent inflationary pressures. The divergence in the rhetoric of the two central banks has so far failed to provide either side with a sustained advantage.
Technical picture
The starting point of the current structure was the 0.7600 area, where USD/CHF formed a local bottom in late January. From 27 February to 31 March, an ascending trendline developed, accompanying the pair’s rise towards the 0.8050 area. In April, the trendline was broken, after which the pair transitioned into a sideways trading phase that remains in place today. The horizontal volume profile formed during this period identifies a point of control in the 0.7865–0.7875 range, where the market spent the greatest amount of time during the period under review.
At present, the price is positioned above the lower boundary of the profile and is testing it from above. The 0.7930 area could attract market participants’ attention should the pair continue to move higher. The 0.7800 region remains a potential reference point if a bearish move develops, as it represents the nearest support zone.
The RSI oscillator and its moving averages currently show readings of 37/46/47. The indicator remains below both moving averages; however, the averages themselves are still positioned in neutral territory, which should also be taken into account.
Key takeaways
The pair has completed its upward trend and entered a consolidation phase, while price is currently testing the lower boundary of the existing profile. The RSI and its moving averages stand at 37/46/47: the indicator remains below both moving averages, although the averages themselves are still located in neutral territory.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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EUR/GBP: June ECB Meeting Could Bring the Period of Equilibrium to an End
Fundamental backdrop
The divergence in the monetary policy paths of the ECB and the Bank of England is creating a mixed outlook for the pair. Having completed a cycle of eight consecutive rate cuts in 2025, the ECB left its deposit rate unchanged at 2.0% at its April meeting. At the same time, according to Trading Economics, markets are assigning a high probability to a 25-basis-point rate increase as early as 11 June.
The Bank of England, by contrast, remains in wait-and-see mode. On 29 May, Governor Andrew Bailey suggested that inflation could temporarily exceed its target level, indicating that a rate increase from the current 3.75% is unlikely in the near term. As a result, the interest-rate differential between the two central banks could narrow as early as June, and this scenario is weighing on sterling.
Technical picture
On the daily chart, EUR/GBP has completed the bullish structure that began near 0.8250 in February 2025. The advance reached the 0.8850 area in November before giving way to a decline. The trendline drawn from the February low was broken in early January, after which the pair entered a sideways phase within the current horizontal volume profile. The profile boundaries are located around 0.8735 on the upside and 0.8645 on the downside. The point of control is concentrated within the 0.8670–0.8675 range and is positioned close to the lower boundary of the profile.
At present, the price is testing the lower boundary of the profile, and a break below it could shift market attention towards the 0.8620 area. Should buyers succeed in overcoming the upper boundary of the profile, the next resistance level is located near 0.8790.
The RSI and its moving averages are currently reading 45, 47 and 47. All three measures remain below the 50 mark; however, the strength of the bearish impulse has yet to receive convincing confirmation from the oscillator.
Key takeaways
The break of the ascending trendline and the ongoing test of the lower boundary of the profile are creating a tense technical backdrop. The key event of the coming weeks remains the ECB meeting on 11 June, with a potential rate increase capable of shifting the balance of power within the pair.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
EUR/GBP: June ECB Meeting Could Bring the Period of Equilibrium to an End
Fundamental backdrop
The divergence in the monetary policy paths of the ECB and the Bank of England is creating a mixed outlook for the pair. Having completed a cycle of eight consecutive rate cuts in 2025, the ECB left its deposit rate unchanged at 2.0% at its April meeting. At the same time, according to Trading Economics, markets are assigning a high probability to a 25-basis-point rate increase as early as 11 June.
The Bank of England, by contrast, remains in wait-and-see mode. On 29 May, Governor Andrew Bailey suggested that inflation could temporarily exceed its target level, indicating that a rate increase from the current 3.75% is unlikely in the near term. As a result, the interest-rate differential between the two central banks could narrow as early as June, and this scenario is weighing on sterling.
Technical picture
On the daily chart, EUR/GBP has completed the bullish structure that began near 0.8250 in February 2025. The advance reached the 0.8850 area in November before giving way to a decline. The trendline drawn from the February low was broken in early January, after which the pair entered a sideways phase within the current horizontal volume profile. The profile boundaries are located around 0.8735 on the upside and 0.8645 on the downside. The point of control is concentrated within the 0.8670–0.8675 range and is positioned close to the lower boundary of the profile.
At present, the price is testing the lower boundary of the profile, and a break below it could shift market attention towards the 0.8620 area. Should buyers succeed in overcoming the upper boundary of the profile, the next resistance level is located near 0.8790.
The RSI and its moving averages are currently reading 45, 47 and 47. All three measures remain below the 50 mark; however, the strength of the bearish impulse has yet to receive convincing confirmation from the oscillator.
Key takeaways
The break of the ascending trendline and the ongoing test of the lower boundary of the profile are creating a tense technical backdrop. The key event of the coming weeks remains the ECB meeting on 11 June, with a potential rate increase capable of shifting the balance of power within the pair.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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Gold: Attempt to Break Out of the Short-Term Trend
Fundamental backdrop
In April, US inflation stood at 3.8% year-on-year — the highest level since May 2023. A significant contribution came from rising fuel prices amid escalating tensions in the Middle East. Market reaction was somewhat paradoxical: instead of inflows into safe-haven assets, the strong CPI print triggered a reassessment of Federal Reserve monetary policy. Expectations of a possible rate hike by the end of the year appear to have strengthened the US dollar and weighed on gold.
By the end of May, the precious metal had lost more than 4% and is currently trading roughly 20% below its January record high. Markets are now awaiting labour market data and comments from Federal Reserve officials as key guidance for the next reassessment of monetary expectations.
Technical picture
On the four-hour chart of Gold (XAUUSD on FXOpen), a short-term bearish trend can be identified: starting on 12 May and ending in a phase of acceleration on 28 May. The trendline is drawn across consecutively lower highs and is clearly defined. Following the 28 May impulse, price reversed sharply and attempted to break above the trendline. However, it has not yet managed to hold above it — the move may be viewed as an incomplete retest of trend strength, with the final outcome still undecided.
The horizontal volume profile defines the current working range, with the upper boundary located around 4,560 and the lower boundary at 4,485. The point of control (POC) is concentrated between 4,533 and 4,535. At present, price is testing the lower boundary of the profile — if this support is lost, attention could shift towards the 4,465 area, where a key support level is located. The 4,600 area could also attract interest if the upward move continues.
RSI + MAs shows readings of 46, 49 and 47 — the oscillator remains in neutral territory but is poised for a potential new impulse.
Key takeaways
Further gold price dynamics will largely depend on US labour market data and Federal Reserve rhetoric: confirmation of expectations for higher rates could increase pressure on the asset. The technical picture remains mixed — the attempted breakout above the descending trendline has not been confirmed, while RSI does not provide a clear directional advantage for either side.
Start trading commodities with tight spreads*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
Gold: Attempt to Break Out of the Short-Term Trend
Fundamental backdrop
In April, US inflation stood at 3.8% year-on-year — the highest level since May 2023. A significant contribution came from rising fuel prices amid escalating tensions in the Middle East. Market reaction was somewhat paradoxical: instead of inflows into safe-haven assets, the strong CPI print triggered a reassessment of Federal Reserve monetary policy. Expectations of a possible rate hike by the end of the year appear to have strengthened the US dollar and weighed on gold.
By the end of May, the precious metal had lost more than 4% and is currently trading roughly 20% below its January record high. Markets are now awaiting labour market data and comments from Federal Reserve officials as key guidance for the next reassessment of monetary expectations.
Technical picture
On the four-hour chart of Gold (XAUUSD on FXOpen), a short-term bearish trend can be identified: starting on 12 May and ending in a phase of acceleration on 28 May. The trendline is drawn across consecutively lower highs and is clearly defined. Following the 28 May impulse, price reversed sharply and attempted to break above the trendline. However, it has not yet managed to hold above it — the move may be viewed as an incomplete retest of trend strength, with the final outcome still undecided.
The horizontal volume profile defines the current working range, with the upper boundary located around 4,560 and the lower boundary at 4,485. The point of control (POC) is concentrated between 4,533 and 4,535. At present, price is testing the lower boundary of the profile — if this support is lost, attention could shift towards the 4,465 area, where a key support level is located. The 4,600 area could also attract interest if the upward move continues.
RSI + MAs shows readings of 46, 49 and 47 — the oscillator remains in neutral territory but is poised for a potential new impulse.
Key takeaways
Further gold price dynamics will largely depend on US labour market data and Federal Reserve rhetoric: confirmation of expectations for higher rates could increase pressure on the asset. The technical picture remains mixed — the attempted breakout above the descending trendline has not been confirmed, while RSI does not provide a clear directional advantage for either side.
Start trading commodities with tight spreads*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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#USDJPY #usdcad #forextrading #trading #marketanalysis
USD/JPY and USD/CAD Test Key Levels Ahead of the ADP Employment Report
The US dollar is holding on to its recently gained ground following a series of strong macroeconomic releases and a rise in US Treasury yields. Additional support for the greenback comes from resilient inflation readings, expectations that the Federal Reserve will maintain a restrictive policy stance, and cautious investor sentiment ahead of the release of the preliminary ADP employment report. At the same time, market participants continue to monitor oil price dynamics and other economic indicators that could alter perceptions of the health of the US economy.
Despite continued demand for the dollar, the next directional move remains uncertain. Both USD/JPY and USD/CAD have reached important technical resistance levels, where either profit-taking and a local correction may emerge, or a fresh bullish impulse could develop if US labour market data come in stronger than expected.
USD/JPY
USD/JPY continues its upward move and has approached a strategic resistance zone near the highs of recent months. Following the recovery from April lows, buyers have almost fully reversed the previous decline; however, price has now entered an area where selling pressure has previously intensified.
Technical analysis of USD/JPY suggests the possibility of a test of the nearest resistance levels at 160.40–160.70. Should the pair establish itself below the 159.30–159.60 range, a broader downward correction may begin.
Key events for USD/JPY:
▪️today at 11:30 (GMT+3): speech by Bank of Japan Governor Kazuo Ueda;
▪️today at 15:15 (GMT+3): US ADP Non-Farm Employment Change;
▪️today at 16:00 (GMT+3): speech by Federal Reserve Vice Chair for Supervision Michael S. Barr.
USD/JPY and USD/CAD Test Key Levels Ahead of the ADP Employment Report
The US dollar is holding on to its recently gained ground following a series of strong macroeconomic releases and a rise in US Treasury yields. Additional support for the greenback comes from resilient inflation readings, expectations that the Federal Reserve will maintain a restrictive policy stance, and cautious investor sentiment ahead of the release of the preliminary ADP employment report. At the same time, market participants continue to monitor oil price dynamics and other economic indicators that could alter perceptions of the health of the US economy.
Despite continued demand for the dollar, the next directional move remains uncertain. Both USD/JPY and USD/CAD have reached important technical resistance levels, where either profit-taking and a local correction may emerge, or a fresh bullish impulse could develop if US labour market data come in stronger than expected.
USD/JPY
USD/JPY continues its upward move and has approached a strategic resistance zone near the highs of recent months. Following the recovery from April lows, buyers have almost fully reversed the previous decline; however, price has now entered an area where selling pressure has previously intensified.
Technical analysis of USD/JPY suggests the possibility of a test of the nearest resistance levels at 160.40–160.70. Should the pair establish itself below the 159.30–159.60 range, a broader downward correction may begin.
Key events for USD/JPY:
▪️today at 11:30 (GMT+3): speech by Bank of Japan Governor Kazuo Ueda;
▪️today at 15:15 (GMT+3): US ADP Non-Farm Employment Change;
▪️today at 16:00 (GMT+3): speech by Federal Reserve Vice Chair for Supervision Michael S. Barr.
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#usdcad #forextrading #trading #marketanalysis
USD/CAD
USD/CAD has recovered following a corrective decline towards 1.3770. Technical analysis of USD/CAD points to the possibility of a renewed test of the 1.3850–1.3870 area, as a series of bullish candlestick formations has developed on the daily timeframe. The bullish scenario would come into question if the pair were to establish itself decisively below 1.3770.
Key events for USD/CAD:
▪️today at 15:30 (GMT+3): Canadian labour productivity data;
▪️today at 17:00 (GMT+3): US ISM Services Purchasing Managers' Index (PMI);
▪️today at 17:30 (GMT+3): US crude oil inventories.
Key takeaways
The dollar retains an advantage ahead of the release of preliminary US employment data; however, both USD/JPY and USD/CAD are already trading close to important technical resistance levels. The next directional move will depend on whether the incoming data can confirm the resilience of the US economy. Strong figures could provide the basis for a continuation of dollar strength and a test of fresh highs, while weaker-than-expected results may trigger a correction following the recent appreciation of the US currency.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
USD/CAD
USD/CAD has recovered following a corrective decline towards 1.3770. Technical analysis of USD/CAD points to the possibility of a renewed test of the 1.3850–1.3870 area, as a series of bullish candlestick formations has developed on the daily timeframe. The bullish scenario would come into question if the pair were to establish itself decisively below 1.3770.
Key events for USD/CAD:
▪️today at 15:30 (GMT+3): Canadian labour productivity data;
▪️today at 17:00 (GMT+3): US ISM Services Purchasing Managers' Index (PMI);
▪️today at 17:30 (GMT+3): US crude oil inventories.
Key takeaways
The dollar retains an advantage ahead of the release of preliminary US employment data; however, both USD/JPY and USD/CAD are already trading close to important technical resistance levels. The next directional move will depend on whether the incoming data can confirm the resilience of the US economy. Strong figures could provide the basis for a continuation of dollar strength and a test of fresh highs, while weaker-than-expected results may trigger a correction following the recent appreciation of the US currency.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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#EURUSD #GBPUSD #forextrading #trading #marketanalysis #MarketNews
Euro and Sterling Weaken as the Dollar Strengthens Ahead of Key US Data
The US dollar continues to hold firm against its major counterparts, supported by strong US macroeconomic data and expectations surrounding the release of further labour market indicators. Additional support for the greenback comes from persistent inflationary risks and the Federal Reserve’s cautious stance regarding further monetary policy easing. Against this backdrop, EUR/USD and GBP/USD remain under pressure, with market participants preferring to reduce long positions in the euro and sterling ahead of the next batch of economic releases.
EUR/USD
EUR/USD continues to trade within its established range following the recent decline, consolidating near the lower boundary.
Technical analysis of EUR/USD points to continued sideways trading within the 1.1570–1.1660 range. Should US data come in strong, pressure on the pair could intensify, potentially leading to a break below the lower boundary of the range and the beginning of a new bearish impulse. Conversely, if incoming data disappoint market expectations, EUR/USD may strengthen above 1.1660.
Key events for EUR/USD:
▪️today at 10:30 (GMT+3): Germany S&P Global Construction PMI;
▪️today at 15:30 (GMT+3): US Initial Jobless Claims;
▪️today at 20:00 (GMT+3): speech by Federal Open Market Committee (FOMC) member Mary Daly.
Euro and Sterling Weaken as the Dollar Strengthens Ahead of Key US Data
The US dollar continues to hold firm against its major counterparts, supported by strong US macroeconomic data and expectations surrounding the release of further labour market indicators. Additional support for the greenback comes from persistent inflationary risks and the Federal Reserve’s cautious stance regarding further monetary policy easing. Against this backdrop, EUR/USD and GBP/USD remain under pressure, with market participants preferring to reduce long positions in the euro and sterling ahead of the next batch of economic releases.
EUR/USD
EUR/USD continues to trade within its established range following the recent decline, consolidating near the lower boundary.
Technical analysis of EUR/USD points to continued sideways trading within the 1.1570–1.1660 range. Should US data come in strong, pressure on the pair could intensify, potentially leading to a break below the lower boundary of the range and the beginning of a new bearish impulse. Conversely, if incoming data disappoint market expectations, EUR/USD may strengthen above 1.1660.
Key events for EUR/USD:
▪️today at 10:30 (GMT+3): Germany S&P Global Construction PMI;
▪️today at 15:30 (GMT+3): US Initial Jobless Claims;
▪️today at 20:00 (GMT+3): speech by Federal Open Market Committee (FOMC) member Mary Daly.
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#GBPUSD #forextrading #forex #marketanalysis
GBP/USD
GBP/USD also remains under pressure following its recent decline. Sterling previously attempted to develop an upward correction; however, buyers failed to establish themselves above local resistance levels. As a result, the pair has returned to the range between 1.3360 and 1.3480, where a balance between buyers and sellers is currently taking shape.
Technical analysis of GBP/USD suggests the possibility of a test of the lower boundary of this range. A decisive move below 1.3360 could lead to a retest of the recent low near 1.3300. If buyers manage to secure a foothold above 1.3480, a move towards the 1.3510–1.3550 area may follow.
Key events for GBP/USD:
▪️today at 11:30 (GMT+3): UK Construction PMI;
▪️today at 18:40 (GMT+3): speech by Bank of England Governor Andrew Bailey;
▪️tomorrow at 13:30 (GMT+3): UK mortgage lending data.
Key takeaways
The dollar continues to enjoy an advantage thanks to resilient US economic indicators and expectations of further labour market data. At the same time, EUR/USD and GBP/USD are trading close to important technical support levels, making the upcoming data releases a key factor for the market’s next move. Strong US figures could increase pressure on European currencies and trigger downside breakouts from their respective ranges, while weaker data may support a corrective recovery in both the euro and sterling.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
GBP/USD
GBP/USD also remains under pressure following its recent decline. Sterling previously attempted to develop an upward correction; however, buyers failed to establish themselves above local resistance levels. As a result, the pair has returned to the range between 1.3360 and 1.3480, where a balance between buyers and sellers is currently taking shape.
Technical analysis of GBP/USD suggests the possibility of a test of the lower boundary of this range. A decisive move below 1.3360 could lead to a retest of the recent low near 1.3300. If buyers manage to secure a foothold above 1.3480, a move towards the 1.3510–1.3550 area may follow.
Key events for GBP/USD:
▪️today at 11:30 (GMT+3): UK Construction PMI;
▪️today at 18:40 (GMT+3): speech by Bank of England Governor Andrew Bailey;
▪️tomorrow at 13:30 (GMT+3): UK mortgage lending data.
Key takeaways
The dollar continues to enjoy an advantage thanks to resilient US economic indicators and expectations of further labour market data. At the same time, EUR/USD and GBP/USD are trading close to important technical support levels, making the upcoming data releases a key factor for the market’s next move. Strong US figures could increase pressure on European currencies and trigger downside breakouts from their respective ranges, while weaker data may support a corrective recovery in both the euro and sterling.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips*. Learn more about trading commodity CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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#AMZN #stockmarket #stocktrading #marketanalysis #MarketNews
Amazon: Record Earnings Are Priced In as the Trend Loses Momentum
Fundamental backdrop
In the first quarter of 2026, Amazon (AMZN on FXOpen) reported a 17% increase in net sales to $181.5 billion. AWS revenue grew by 28% — its fastest pace in 15 quarters — while operating margin reached a record 13.1%. These results provided a solid fundamental foundation for the rally in Amazon shares seen from February through early May.
Now that the positive impact of the quarterly earnings release has likely been fully priced in, the market appears to be shifting its focus towards second-quarter prospects. A key event for the period will be the annual Prime Day sales event, scheduled for June 2026.
Technical picture
Since 27 March, Amazon shares have posted a sharp advance, forming a short-term uptrend. The move was supported by an ascending trendline connecting the 200 area with the 278 region, where local resistance emerged. At present, the price is testing this trendline for a potential downside break and has already moved below the lower boundary of the profile located at 260, signalling weakening bullish structure.
The point of control (POC) is situated in the 263–264 area, close to the lower boundary of the profile. Should the stock attempt to recover, this boundary may become the first obstacle for buyers. The upper boundary of the profile at 273 may also attract market attention if the price returns to the range. Above it lies a resistance level near 278.
The RSI and its moving averages currently stand at 39, 45 and 49. All three readings remain below the 50 mark, indicating the development of a bearish phase and weakening upward momentum. The 248 area, where the green support level is located, remains the nearest downside target should the decline continue.
Key takeaways
Amazon shares have undergone a strong upward move supported by record financial results; however, the technical picture now points to a potential trend reversal. Further developments will largely depend on whether sellers can maintain control below the current volume profile.
Trade global index CFDs with zero commission and tight spreads*. Learn more about trading index CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
Amazon: Record Earnings Are Priced In as the Trend Loses Momentum
Fundamental backdrop
In the first quarter of 2026, Amazon (AMZN on FXOpen) reported a 17% increase in net sales to $181.5 billion. AWS revenue grew by 28% — its fastest pace in 15 quarters — while operating margin reached a record 13.1%. These results provided a solid fundamental foundation for the rally in Amazon shares seen from February through early May.
Now that the positive impact of the quarterly earnings release has likely been fully priced in, the market appears to be shifting its focus towards second-quarter prospects. A key event for the period will be the annual Prime Day sales event, scheduled for June 2026.
Technical picture
Since 27 March, Amazon shares have posted a sharp advance, forming a short-term uptrend. The move was supported by an ascending trendline connecting the 200 area with the 278 region, where local resistance emerged. At present, the price is testing this trendline for a potential downside break and has already moved below the lower boundary of the profile located at 260, signalling weakening bullish structure.
The point of control (POC) is situated in the 263–264 area, close to the lower boundary of the profile. Should the stock attempt to recover, this boundary may become the first obstacle for buyers. The upper boundary of the profile at 273 may also attract market attention if the price returns to the range. Above it lies a resistance level near 278.
The RSI and its moving averages currently stand at 39, 45 and 49. All three readings remain below the 50 mark, indicating the development of a bearish phase and weakening upward momentum. The 248 area, where the green support level is located, remains the nearest downside target should the decline continue.
Key takeaways
Amazon shares have undergone a strong upward move supported by record financial results; however, the technical picture now points to a potential trend reversal. Further developments will largely depend on whether sellers can maintain control below the current volume profile.
Trade global index CFDs with zero commission and tight spreads*. Learn more about trading index CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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#nvidia #NVDA #stockmarket #stocktrading #stocks #MarketNews
NVIDIA: Record Revenue Sustains Interest, but Shares Remain Under Pressure
NVIDIA's revenue for the first quarter of fiscal year 2027 surged by 85% to $81.62 billion, marking another record quarter for the company. Adjusted earnings per share came in at $1.87, exceeding the Wall Street consensus forecast of $1.76. The primary driver of growth remains the data centre segment based on the Blackwell architecture, which accounts for approximately 92% of the company's total revenue.
At the same time, uncertainty surrounding the Chinese market persists. Although small batches of H200 chips intended for Chinese customers received approval from US regulators, the company has yet to recognise any revenue from these shipments. Regulatory considerations therefore remain a key source of caution in investor assessments.
Technical Outlook
On the four-hour chart, an upward structure has been evident since April. The share price advanced from lows around 165 to May highs near 236, forming a series of higher lows. The ascending trendline drawn through the key support points of this move is currently being tested, with the price attempting to break below it.
The red resistance level around 232 and the green support level near 205 represent the nearest reference points within the current trading range. The Point of Control (POC) zone at 221–222 and the upper boundary of the volume profile around 225 could serve as intermediate targets should a recovery develop.
The price is currently trading below the lower boundary of the volume profile, which may act as the nearest stabilisation area if retested. The RSI indicator and moving averages are showing readings of 41, 48 and 50 respectively. The oscillator remains below the neutral zone, although the indicator's average lines do not yet confirm the emergence of a clear directional trend.
Key Takeaways
The record earnings report was not enough to prevent a correction in NVIDIA shares, suggesting that the market had been anticipating even stronger results. Meanwhile, regulatory uncertainty regarding shipments to China remains in place. Future price performance will largely depend on how resilient demand from hyperscalers proves to be in the absence of meaningful revenue contributions from the Chinese market.
Trade global index CFDs with zero commission and tight spreads*. Learn more about trading index CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
NVIDIA: Record Revenue Sustains Interest, but Shares Remain Under Pressure
NVIDIA's revenue for the first quarter of fiscal year 2027 surged by 85% to $81.62 billion, marking another record quarter for the company. Adjusted earnings per share came in at $1.87, exceeding the Wall Street consensus forecast of $1.76. The primary driver of growth remains the data centre segment based on the Blackwell architecture, which accounts for approximately 92% of the company's total revenue.
At the same time, uncertainty surrounding the Chinese market persists. Although small batches of H200 chips intended for Chinese customers received approval from US regulators, the company has yet to recognise any revenue from these shipments. Regulatory considerations therefore remain a key source of caution in investor assessments.
Technical Outlook
On the four-hour chart, an upward structure has been evident since April. The share price advanced from lows around 165 to May highs near 236, forming a series of higher lows. The ascending trendline drawn through the key support points of this move is currently being tested, with the price attempting to break below it.
The red resistance level around 232 and the green support level near 205 represent the nearest reference points within the current trading range. The Point of Control (POC) zone at 221–222 and the upper boundary of the volume profile around 225 could serve as intermediate targets should a recovery develop.
The price is currently trading below the lower boundary of the volume profile, which may act as the nearest stabilisation area if retested. The RSI indicator and moving averages are showing readings of 41, 48 and 50 respectively. The oscillator remains below the neutral zone, although the indicator's average lines do not yet confirm the emergence of a clear directional trend.
Key Takeaways
The record earnings report was not enough to prevent a correction in NVIDIA shares, suggesting that the market had been anticipating even stronger results. Meanwhile, regulatory uncertainty regarding shipments to China remains in place. Future price performance will largely depend on how resilient demand from hyperscalers proves to be in the absence of meaningful revenue contributions from the Chinese market.
Trade global index CFDs with zero commission and tight spreads*. Learn more about trading index CFDs with FXOpen. *Additional fees may apply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. You can find the full disclaimer here: www.fxopen.com
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.
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