Daily Market Analysis By FXOpen

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The Netflix (NFLX) Share Price Has Reached an All-Time High

As shown in the daily chart for Netflix (NFLX), during yesterday’s trading session, the price exceeded $725, marking a new all-time high.

The bullish sentiment is driven by the upcoming release of the third-quarter earnings report, scheduled for 17 October. According to Zacks analysts' forecasts: → earnings per share are expected to reach $5.07, up 35.92% compared to the same quarter last year; → gross revenue is forecast to be $9.76 billion, an increase of 14.31% year-on-year.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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/JPY Chart Analysis: Bears May Take Control

As shown in today’s USD/JPY chart, the US dollar has gained over 3.6% against the yen since the start of the month. Yesterday, the exchange rate surpassed the peak formed on 16 August around the 149.40 level, marking a 10-week high.

The bullish sentiment towards the US dollar has been influenced by increased market confidence in the Federal Reserve’s patient approach to further monetary easing, as reported by Reuters.

Can the USD/JPY rise continue?

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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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What Is T-Distribution in Trading?

In the financial markets, understanding T-distribution in probability is a valuable skill. This statistical concept, crucial for small sample sizes, offers insights into market trends and risks. By grasping T-distribution, traders gain a powerful tool for evaluating strategies, risks, and portfolios. Let's delve into what T-distribution is and how it's effectively used in the realm of trading.

Understanding T-Distribution

The T-distribution in probability distribution plays a crucial role in trading, especially in situations where sample sizes are small. William Sealy Gosset first introduced it under the pseudonym "Student". This distribution resembles the normal distribution with its bell-shaped curve but has thicker tails, meaning it predicts more outcomes in the extreme ends than a normal distribution would.

A key element of T-distribution is the concept of 'degrees of freedom', which essentially refers to the number of values in a calculation that are free to vary. It's usually the sample size minus one.

The degrees of freedom affect the shape of the T-distribution; with fewer degrees of freedom, the distribution has heavier tails. As the degrees of freedom increase, the distribution starts to resemble the normal distribution more closely. This is particularly significant in trading when dealing with small data sets, where the T-distribution provides a more accurate estimation of probability and risk than the normal distribution.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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Pound and Euro Decline Following US Inflation Data Release

Yesterday’s Consumer Price Index (CPI) data showed that inflation in the US continues to slow. The rate fell to 2.4%, down from last month's 2.5%, but slightly above the experts' forecast of 2.3%. These figures supported the dollar, as slowing inflation and a strong labour market may lead the Federal Reserve to refrain from aggressive interest rate cuts in the coming months.

EUR/USD

The euro tested key support at the 1.0900 level yesterday. By the end of the day, EUR/USD buyers managed to correct the price to 1.0940. Price action within the 1.1000-1.0900 range will be crucial for the pair’s future direction. A break below 1.0900 could extend the downtrend towards 1.0800-1.0700, while a resumption of the uptrend is possible with a decisive move above the psychological level of 1.1000.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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/CAD Analysis: Exchange Rate Rises for Seven Consecutive Days

Data shows that USD/CAD has formed seven consecutive bullish candles since 3 October, and today could mark the eighth in this sequence.

This strong rise in the pair has been driven by the strengthening of the US dollar amid several fundamental factors. Media reports suggest that traders are reassessing the likelihood of further Federal Reserve rate cuts after yesterday’s inflation data release (as reported by Forex Factory):

→ Core Consumer Price Index (CPI) month-on-month: actual = 0.3%, expected = 0.2%, previous = 0.3%;
→ CPI month-on-month: actual = 0.2%, expected = 0.1%, previous = 0.2%;
→ CPI year-on-year: actual = 2.4%, expected = 2.3%, previous = 2.5%.

Market participants may be speculating that the Fed will hold off on further monetary easing. Will the US dollar continue to strengthen against the CAD?

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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: Gold and WTI Crude Oil Prices Target Additional Gains

Gold price started a fresh increase above the $2,618 resistance level. WTI Crude oil prices are gaining bullish momentum and might even test $78.00.

Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today

• Gold price started a steady increase from the $2,600 zone against the US Dollar.
• It cleared a key bearish trend line with resistance at $2,630 on the hourly chart of gold at FXOpen.
• WTI Crude oil prices extended gains above the $72.40 and $73.50 resistance levels.
• There was a move above a connecting bearish trend line with resistance at $72.75 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price found support near the $2,600 zone. The price formed a base and started a fresh increase above the $2,618 level.

The bulls cleared a key bearish trend line with resistance at $2,630 and the 50-hour simple moving average. There was a clear move above the 50% Fib retracement level of the downward move from the $2,670 swing high to the $2,602 low.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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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Tesla (TSLA) Shares Fall After ‘We, Robot’ Presentation

On 10 October, at the Warner Brothers studio in Burbank, California, Elon Musk unveiled three products during the presentation of “We, Robot”:

→ Cybercab – an autonomous robotaxi that Musk claims will be produced in very large quantities.

→ Robovan – an autonomous bus capable of transporting 20 people or cargo, with an expected price tag of under $30,000.

→ Optimus Gen 2 – humanoid robots that participated in the event, with Musk showcasing a video of how Optimus can be used in home settings.

Elon Musk stated that Tesla anticipates the arrival of fully autonomous vehicles without supervision in Texas and California by next year.

Despite the revolutionary nature of the products presented under the Tesla brand, investors seem disappointed, as TSLA shares are trading around $225 in pre-market today, down from over $238 at yesterday's close.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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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Watch FXOpen's 7 - 11 October Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: Hang Seng Index, XAU/USD, Microsoft and Netflix Shares

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.

• Hang Seng Index (HSI) Drops Nearly 10% Today
• Analysis of XAU/USD: Gold Price Drops to a Two-Week Low
• Microsoft (MSFT) Shares Drop Over 3% This Month
• The Netflix (NFLX) Share Price Has Reached an All-Time High

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.



FXOpen YouTube

#marketwrap #marketanalysis #forexmarketanalysis #stockmarketanalysis

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo

 

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S&P 500 Reaches Another Record High

As shown by the S&P 500 chart (US SPX 500 mini on FXOpen), the leading US stock index set its 45th record of the year, closing above 5800 on Friday. This marks the fifth consecutive week of growth, with the index up more than 22% since the start of the year.

According to Reuters, the bullish market sentiment is driven by the start of Q3 earnings season, with companies possibly issuing bolder forecasts due to the beginning of the Fed’s rate-cutting cycle.

What are the prospects for the index until the end of 2024?

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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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Mastering the Harmonic Bat Pattern

The harmonic bat pattern is a powerful tool for traders seeking to pinpoint market reversals with precision. Using Fibonacci ratios to map out key price movements, this pattern offers traders the chance to enter high-probability trades. In this article, we’ll break down the bat pattern’s structure, how to identify and trade it, and common mistakes to avoid.

Basics

There are many approaches and tools that can be applied to trading. They can mainly be divided into technical and fundamental. When it comes to technical analysis there are indicators, candlestick and chart patterns, Elliott wave theory, Wyckoff method, and more.

With each talented analyst making chart observations, a new approach is born. This is also the case with Harmonics. They were first introduced in 1930 by H.M. Gartley in his book “Profits in the Stock Market” which is why the first pattern was named Gartley.

At first, Fibonacci ratios weren’t applied to pattern recognition but other market analysts later built upon this. Namely, it was Larry Pesavento who introduced Fib levels to define and distinguish Harmonic formations, and finally, Scott M. Carney defined all the variations according to those rules and ratios.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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JPMorgan (JPM) Shares Rise Over 4% Following Earnings Report

On Friday, before the market opened, JPMorgan (JPM) released its Q3 earnings, which exceeded expectations:

→ Earnings per share: Expected = $3.99, Actual = $4.97
→ Revenue: Expected = $41.4 billion, Actual = $43.4 billion

CEO Jamie Dimon praised the strong results but issued several cautionary statements. He noted:

→ Geopolitical risks are rising rapidly. "We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are dangerous and deteriorating."

→ "While inflation is easing and the US economy remains resilient, several critical challenges persist, including a large budget deficit, infrastructure needs, trade restructuring, and the remilitarisation of the world."

Despite Dimon's caution, investors responded positively to JPMorgan’s strong results, pushing JPM shares up more than 4% on Friday.

Year-to-date, the stock has gain

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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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Understanding Fibonacci Extensions

Have you ever noticed that market movements often occur in repeatable patterns? Well, that’s where Fibonacci extensions come into play. Join us in this article as we dive into the world of Fibonacci extensions and discover how they can be a strong addition to your trading arsenal.

A Primer on Fibonacci Ratios

Fibonacci ratios originate from the Fibonacci sequence, where each number is the sum of the two preceding ones (e.g., 0, 1, 1, 2, 3, 5, 8, 13, 21, 34). The key ratio, known as the Golden Ratio, is approximately 1.618. This is calculated by dividing a number in the sequence by its immediate predecessor (e.g., 34 ÷ 21 ≈ 1.619). Conversely, dividing a number by the next number yields approximately 0.618 (e.g., 21 ÷ 34 ≈ 0.618).

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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AUDUSD Technical Analysis – 14th OCT, 2024
AUDUSD – Support of Channel is Broken

AUDUSD was unable to continue its bullish momentum and after touching a high of 0.6758 the prices have started to decline against the United States Dollar today in the Asian trading session.
The Support of channel is broken in the 1-hourly timeframe.
We can see Ichimoku - Bearish crossover: Tenkan & Kijun in the 1-hourly timeframe.
The Support of channel is broken in the daily timeframe.
We have also seen Bearish price crossover with Moving Average 50 in the daily timeframe.

We can detect Bearish price crossover with adaptative moving average 50 in the daily timeframe.
The MACD indicator is back under zero indicating bearish tendencies.
The prices of AUDUSD are ranging Near resistance of triangle in the weekly timeframe.
We have also seen Bearish opening of the markets this week.

AUDUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.
• Aussie Bearish reversal seen below the 0.6758 mark.
• Short-term range appears to be Bearish.
• AUDUSD continues to remain above the 0.6700 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 0.6696 which is a Pivot Point 3rd Support Point.
AUDUSD is now trading near to its Pivot levels of 0.6710 and is moving into a Bearish channel.
The price of AUDUSD remains above its Classic support levels of 0.6684 and is moving towards its next target of 0.6685 which is a 61.8% Retracement from the 52 Week Low.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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EURUSD Technical Analysis – 14th OCT, 2024
EURUSD – Support of Channel is Broken

EURUSD was unable to continue its bullish momentum and after touching a high of 1.0945 the prices started to decline against the United States Dollar today in the US Trading session.
The Support of channel is broken in the 15-minutes timeframe.
We have seen the formation of Three black crows in the 1-hourly timeframe.
We have also detected Moving Average bearish crossovers: AMA20 & AMA50 in the daily timeframe.

We can also see Bearish price crossover with Moving Average 100 in the daily timeframe.
We can see Ichimoku: price is under the cloud in the daily timeframe.
Also, we can see Bearish price crossover with adaptative moving average 20 in the weekly timeframe.
The MACD crosses DOWN its Moving Average in the weekly timeframe.

We have also seen a Bearish opening of the markets this week.
EURUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.
• Euro Bearish reversal seen below the 1.0945 mark.
• Short-term range appears to be Bearish.
• EURUSD continues to remain above the 1.0900 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 1.0899 which is a Price 2 Standard Deviations Support.
EURUSD is now trading near to its Pivot levels of 1.0915 and is moving into a Bearish channel.
The price of EURUSD remains above its Classic support levels of 1.0891 and is moving towards its next target of 1.0873 which is a 14 Day RSI at 30%.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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GBPUSD Technical Analysis – 14th OCT, 2024
GBPUSD – Support of Channel is Broken

GBPUSD was unable to continue its bullish momentum and after touching a high of 1.3066 the prices started to decline against the United States Dollar today in the US Trading session.
The Support of channel is broken in the 15-minutes timeframe.
We can see Bearish trend reversal: Moving Average 50 in the 30-minutes timeframe.
The MACD indicator is back under zero in the 30-minutes timeframe.

We have seen Bearish trend reversal: Moving Average 20 in the 1-hourly timeframe.
We have also detected Bearish trend reversal: adaptative moving average 20 in the 1-hourly timeframe.
We have seen Parabolic SAR indicator bearish reversal in the 1-hourly timeframe.

Also, we see Bearish trend reversal: adaptative moving average 20 in the 2-hourly timeframe.
The Price is back under the pivot point in the 4-hourly timeframe.
GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bearish reversal seen below the 1.3066 mark.
• Short-term range appears to be Bearish.
• GBPUSD continues to remain above the 1.3040 levels.
• Average true range ATR is indicating Less market volatility.

GBPUSD is now trading near to its Pivot levels of 1.3059 and is moving into a Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.3035 and is now moving towards its next target of 1.3046 which is a Price 3 Standard Deviations Support.
We are also looking for the breach of the levels of 1.3034 at which the Price Crosses 40 Day Moving Average Stalls.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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NZDUSD Technical Analysis – 14th OCT, 2024
NZDUSD – Support of Channel is Broken

NZDUSD was unable to continue its bullish momentum and after touching a high of 0.6098 the prices started to decline against the United States Dollar today in the US Trading session.
The Support of channel is broken in the 15-minutes timeframe.
The prices of NZDUSD are ranging Near resistance of channel in the 1-hourly timeframe.
We can see Bearish price crossover with Moving Average 20 in the 1-hourly timeframe.

We have also seen Bearish price crossover with adaptative moving average 100 in the 1-hourly timeframe.
We see MACD crosses DOWN its Moving Average in the 1-hourly timeframe.
The Ichimoku: price is under the cloud in the 1-hourly timeframe.

We have also seen Bearish price crossover with adaptative moving average 20 in the 4-hourly timeframe.
NZDUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Kiwi Bearish reversal seen below the 0.6098 mark.
• Short-term range appears to be Bearish.
• NZDUSD continues to remain above the 0.6080 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 0.6076 which is a 50% Retracement From 52 Week High/Low.
NZDUSD is now trading below its Pivot levels of 0.6085 and is moving into a Bearish channel.
The price of NZDUSD remains near its Classic support levels of 0.6074 and is now moving towards its next target of 0.6066 which is a Price 3 Standard Deviations Support.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

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Mastering the Marubozu Candlestick Pattern in Trading

Have you been looking at a chart for hours, wondering when to buy or sell? In one moment, the chart is green, screaming “buy.” Next, it’s all red, and the price is falling. Buying or selling becomes a tough decision if you resonate with this. However, candlesticks on your chart can help you.

This FXOpen article will help cover one of them – the Marubozu candle pattern. Tag along to learn about this candlestick, its types, and how to trade using it.

What Is a Marubozu Candle?

A Marubozu is a candlestick with no wicks that has a long body. It signals a strong price action as buyers or sellers dominate the session. “Marubozu” is a Japanese term meaning “bald” or “close-cropped.”

It can be bearish (if the open price is above the close) or bullish (if the open price is below the close). When it occurs, traders prepare for a significant price movement. But first, how can you identify it?

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

 

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Pound Falls After Inflation Report

The Consumer Price Index (CPI) report for the UK was released today, showing that inflation is decreasing at a faster rate than analysts had predicted. According to data from ForexFactory:

→ Yearly CPI: actual = 1.7%, forecast = 1.9%, previous = 2.2%;

→ Yearly Core CPI: actual = 3.2%, forecast = 3.4%, previous = 3.6%.

The currency market responded with a decline in the pound sterling against other currencies. Traders likely assume that the Bank of England now has stronger reasons to consider easing its current monetary policy, aimed at curbing inflation.

Specifically, the GBP/USD rate fell to its lowest in nearly two months.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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) Shares Fall Over 4%, Missing a Record High

On 12 September, when analysing Nvidia’s (NVDA) stock chart, we drew an upward channel (shown in blue) and noted several resistance levels, including:
→ a downward trendline (shown in red);
→ a psychological level at $130.

As Nvidia’s (NVDA) stock chart shows, the bulls managed to overcome this resistance zone with a strong candle on 7 October (marked with an arrow).

Afterwards, Nvidia’s (NVDA) stock price reached the median line of the blue channel, but sharply reversed downwards yesterday. The bearish sentiment was driven by:

→ a broader decline in the US stock market, potentially due to investors reassessing risks following the initial corporate earnings results as the reporting season gains momentum;
→ rumours that the US government is preparing restrictive measures (which may affect Nvidia) to prevent the export of high-tech chip manufacturing technology abroad.

As a result, Nvidia’s (NVDA) stock price dropped by approximately 4% yesterday, just shy of the record set on 20 June.

What’s next?

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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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Fibonacci Retracements in Action: Practical Applications for Traders

If you’re wondering how to trade with Fibonacci retracements, you’re in the right place. In this article, we will break down why traders use retracements, their unique features, and how you can apply them in your trading strategies. Keep reading to learn about Fibonacci trading.

The Fibonacci Sequence for Trading

Fibonacci retracements are well-known tools used by traders of any level of experience. You may have never heard of Fibonacci Circles, Fibonacci Arcs, or a Fibonacci Spiral, but you have heard of retracements.

Fibonacci retracements make use of the Fibonacci sequence and the resulting Golden Ratio. Simply put, the Fibonacci sequence is a mathematical concept that starts at 0, then 1, with each following number being the sum of the previous two. It goes 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, etc.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.