Daily Market Analysis By FXOpen

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Commodity Currencies Adjust Following US Inflation Data

The release of US inflation data has led to a downward pullback for the USD in pairs such as USD/CAD, NZD/USD, and AUD/USD. Currently, these pairs are trading near key levels, with rebounds from these points potentially driving increased volatility and shifts in medium-term trends.

AUD/USD

This week, the AUD/USD pair hit new yearly lows near 0.6350. The price stopped just short of 0.6320 before correcting to 0.6400. If the upward correction continues, the pair may test resistance at 0.6470–0.6450. Price action around these levels could provide further direction for the pair. A break and hold above 0.6500 may pave the way for gains toward 0.6620–0.6570. Conversely, a rebound from 0.6470–0.6450 could trigger a new bearish impulse, possibly leading to fresh lows.

Key events likely to influence AUD/USD pricing:
→ Today at 16:30 (GMT+3): Weekly US Initial Jobless Claims data release.
→ Today at 16:30 (GMT+3): US Producer Price Index (PPI) publication.
→ Tomorrow at 05:00 (GMT+3): Release of the Thomson Reuters/Ipsos Primary Consumer Sentiment Index (PCSI) for Australia in December.

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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 Surge to a New All-Time High

The chart for Tesla (TSLA) shares reveals:
→ At the beginning of December, the price was around $350;
→ Yesterday, the trading session closed above $420, surpassing the previous all-time high near $410 set in 2021.

The primary driver of this bullish sentiment appears to be the partnership between Elon Musk and Donald Trump. Since the 5 November election, Tesla shares have broken through a key resistance level near $265, rising approximately 69% and adding around $555 billion to the company’s market value.

Additional positive factors include:
→ Investor expectations that Tesla’s planned affordable new model could become a bestseller in 2025;
→ The company’s plans to launch self-driving taxis and other innovations.

Can the Bullish Momentum Persist?

According to Barron’s, Tesla shares might be overvalued from a fundamental perspective. Currently, TSLA trades at roughly 125 times the expected earnings for 2025, a ratio reminiscent of the previous peak when the stock dropped by about 50% in 2022.

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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Gold Price Hits Monthly High

The XAU/USD chart shows:
→ A notable peak in November near the $2716 level (indicated by the first arrow);
→ Yesterday, gold surpassed this peak, reaching a new one-month high.

Factors Supporting Bullish Sentiment

→ Yesterday’s US Consumer Price Index data met analysts’ expectations. This bolstered market speculation about a Federal Reserve interest rate cut in December, enhancing the appeal of non-yielding assets like gold.

→ Geopolitical tensions in Eastern Europe and the Middle East, along with uncertainty surrounding the policy direction and tariff plans of newly elected US President Donald Trump, are contributing to gold’s safe-haven appeal.

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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Quantitative Trading Models in Forex: A Deep Dive

Quantitative trading in forex harnesses advanced algorithms and statistical models to decode market dynamics, offering traders a sophisticated approach to currency trading. This article delves into the various quantitative trading models, their implementation, and their challenges, providing insights for traders looking to navigate the forex market with a data-driven approach.

Understanding Quantitative Trading in Forex

Quantitative trading, also known as quant trading, in the forex market involves using sophisticated quantitative trading systems that leverage complex mathematical and statistical methods to analyse market data and execute trades. These systems are designed to identify patterns, trends, and potential opportunities in currency movements that might be invisible to the naked eye.

At the heart of these systems are quantitative trading strategies and models, which are algorithmic procedures developed to determine market behaviour and make informed decisions. These strategies incorporate a variety of approaches, from historical data analysis to predictive modelling, which should ensure a comprehensive assessment of market dynamics. Notably, in quantitative trading, Python and similar data-oriented programming languages are often used to build models.

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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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Euro Drops After ECB Rate Cut, Pound Consolidates Near 1.2600

EUR/USD

Euro buyers were unable to overcome resistance at 1.0620–1.0600. Following a sharp decline in November, the pair attempted a recovery and made several attempts to hold above 1.0600, but so far, all efforts have failed.

Yesterday, the European Central Bank (ECB) meeting delivered a widely anticipated 25-basis-point cut to the base rate, lowering it from 3.25% to 3.00%. In response, EUR/USD saw a sharp decline, breaking below key support at 1.0500.

Technical analysis of EUR/USD suggests the possibility of a further bearish impulse if the price breaks the recent low near 1.0340. The downward scenario would be invalidated if the pair manages to secure a strong close above 1.0620.

Key events for EUR/USD pricing today:
→ 10:00 (GMT+3): German trade balance data.
→ 11:00 (GMT+3): Harmonised Consumer Price Index (HICP) for Spain.
→ 13:00 (GMT+3): Eurozone industrial production data for December.

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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Adobe (ADBE) Shares Plunge Over 13%

On Wednesday evening, Adobe Inc. (ADBE) released its quarterly financial results:
→ Earnings per share: Actual = $4.81, Expected = $4.66;
→ Revenue: Actual = $5.61 billion, Expected = $5.54 billion.

Despite exceeding analyst expectations and showing growth compared to the previous quarter, Adobe’s stock opened Thursday with a bearish gap and continued to decline throughout the session, closing more than 13% lower than Wednesday’s close.

The sell-off was driven by Adobe’s disappointing 2025 forecast, projecting slower-than-expected revenue and earnings per share growth. According to Yahoo Finance, this stems from increasing competition (from Google, OpenAI, and others) and concerns over monetising AI tools, which have already contributed to a 20% drop in Adobe’s stock this 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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GBP/USD Declines Following UK GDP Data Release

Today, the UK GDP changes for October were published, as reported by Forex Factory (month-on-month):

→ Actual = -0.1%;
→ Forecast = +0.1%;
→ Previous = -0.1%.

The data revealed a slowing UK economy, defying analysts’ optimistic expectations. According to Reuters and other outlets, the latest GDP figures:

→ Could strengthen traders’ expectations of a more rapid interest rate cut by the Bank of England in 2025;
→ Undermine the target announced last week by Prime Minister Keir Starmer to make the UK the fastest-growing economy among G7 nations.

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 Year Wrap With Gary Thomson: 2024 Market Insights & 2025 Outlook

Market Year Wrap With Gary Thomson: 2024 Market Insights & 2025 Outlook

As we approach the close of 2024, it’s time to reflect on results and think of potential opportunities for the year ahead. Join Gary Thomson, the COO of FXOpen UK, as he sums up the key market trends that shaped 2024 and provides insights on what to expect in 2025.

• Inflation and Interest Rates
• Forex Market Trends
• Commodity Markets
• Stock Market Highlights
• 2025 Outlook

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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Trading Forex vs Stock CFDs: Differences and Advantages

Forex and stock markets are two of the most popular options for traders, each offering unique opportunities and challenges. While forex focuses on trading global currency pairs, stocks involve buying and selling shares of companies. Understanding their differences—from market size and liquidity to trading costs and risk—can help traders choose the market that best suits their strategy. Let’s break down the key differences between forex and stocks.

What Is Forex Trading vs Stock Trading?

Let us start with some general information that you may already know. The forex market revolves around trading currency pairs, such as EUR/USD, and operates globally, making it the largest financial market with a daily turnover exceeding $7.5 trillion (April 2022). It’s decentralised, meaning transactions occur directly between participants across time zones, with no single central exchange.

In contrast, the stock market involves buying and selling shares of publicly listed companies, like Tesla or Nvidia, through centralised exchanges such as the NYSE or LSE. Trading hours are fixed and tied to each exchange’s location, creating more defined trading windows.

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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Market Analysis: GBP/USD Faces Trouble, USD/CAD Builds on Gains

GBP/USD started a fresh decline below the 1.2720 zone. USD/CAD is rising and might aim for more gains above the 1.4245 resistance.

Important Takeaways for GBP/USD and USD/CAD Analysis Today

• The British Pound started another decline from the 1.2800 resistance zone.
• There is a short-term declining channel forming with resistance at 1.2650 on the hourly chart of GBP/USD at FXOpen.
• USD/CAD is showing positive signs above the 1.4200 support zone.
• There is a contracting triangle forming with resistance at 1.4245 on the hourly chart at FXOpen.

GBP/USD Technical Analysis

On the hourly chart of GBP/USD at FXOpen, the pair struggled to continue higher above the 1.2840 resistance zone. The British Pound started a fresh decline and traded below the 1.2750 support zone against the US Dollar, as discussed in the previous analysis.

The pair even traded below 1.2650 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2610 level. A low was formed at 1.2608 and the pair is now consolidating losses.

Immediate resistance on the upside is near a short-term declining channel at 1.2650. It is close to the 23.6% Fib retracement level of the downward move from the 1.2787 swing high to the 1.2608 low. The first major resistance is near the 1.2674 zone.

The main hurdle sits at 1.2720 and the 61.8% Fib retracement level of the downward move from the 1.2787 swing high to the 1.2608 low. A close above the 1.2720 resistance might spark a steady upward move.

The next major resistance is near the 1.2785 zone. Any more gains could lead the pair toward the 1.2850 resistance in the near term.

Initial support on the GBP/USD chart sits at 1.2610. The next major support sits at 1.2585, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2520.

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 Year Wrap 2024: Key Highlights and Outlook for 2025

The year 2024 has been a transformative period in the global financial markets, characterised by a mix of challenges and opportunities. Inflation battles, monetary policy shifts, economic uncertainties, and surprising bouts of optimism dominated the landscape. These forces created a volatile yet dynamic environment where some markets flourished while others struggled under significant pressure.

From central bank interventions to geopolitical developments and technological advancements, every corner of the financial world experienced notable activity. In this article, we will take a detailed look at the major trends and events shaping the global economy in 2024 and provide insights into what lies ahead in 2025.

Inflation and Interest Rates: A Balancing Act

In 2024, inflation showed signs of moderation globally. In the United States, it stabilised around 2.7%, marking a notable shift that bolstered market confidence and set a cautiously optimistic tone for the broader economy.

Throughout the year, rate cuts dominated monetary policy discussions. Following the unprecedented rate hikes implemented in response to the COVID-19 pandemic, major central banks began scaling back rates. However, they had to walk a tightrope between a complex landscape of lower but still stubborn inflation and resilient labour markets and the necessity for monetary easing. The magnitude and pace of these cuts varied significantly, reflecting differences in economic conditions across regions and creating complex relationships in the forex market.

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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Broadcom Inc. (AVGO) Stock Soars Nearly 20%

The chart shows that at the end of last week, Broadcom Inc. (AVGO) stock price surged nearly 20%, breaking the psychological barrier of $200 per share and pushing the company’s market capitalisation to $1 trillion.

Last week, the company released its quarterly earnings report. The actual figures were close to analysts' forecasts — earnings per share of $1.42 vs $1.39 expected and fourth-quarter revenue of $14.05 billion vs $14.07 billion expected. However, the extraordinary rise in stock price was driven by a strong market reaction to the company's optimistic forecast, which is based on robust sales of chips designed for artificial intelligence (AI) applications.

Media reports highlight that the company’s revenue growth from the AI boom reached 220% year-over-year, and the total AI chip market could reach approximately $90 billion by 2027.

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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Trading Forex vs Stock CFDs: Differences and Advantages

Forex and stock markets are two of the most popular options for traders, each offering unique opportunities and challenges. While forex focuses on trading global currency pairs, stocks involve buying and selling shares of companies. Understanding their differences—from market size and liquidity to trading costs and risk—can help traders choose the market that best suits their strategy. Let’s break down the key differences between forex and stocks.

What Is Forex Trading vs Stock Trading?

Let us start with some general information that you may already know. The forex market revolves around trading currency pairs, such as EUR/USD, and operates globally, making it the largest financial market with a daily turnover exceeding $7.5 trillion (April 2022). It’s decentralised, meaning transactions occur directly between participants across time zones, with no single central exchange.

In contrast, the stock market involves buying and selling shares of publicly listed companies, like Tesla or Nvidia, through centralised exchanges such as the NYSE or LSE. Trading hours are fixed and tied to each exchange’s location, creating more defined trading windows.

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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European Currencies Consolidate Near Key Extremes of the Year

There are only two full trading weeks left until the end of the year and just over a month until the inauguration of the 47th President of the United States. At the moment, the market is seeing flat trading in most currency pairs. However, since many macroeconomic news releases are expected this week, along with the final Fed meeting of the year, trends may either strengthen or change dramatically.

EUR/USD

For the past four weeks, the EUR/USD currency pair has been trading within the 1.0420–1.0620 range. Following the ECB's rate cut last week, the pair fell below 1.0500 but failed to update the November lows.

Technical analysis of EUR/USD points to a potential rise toward the upper boundary of the four-week range, as a bullish engulfing pattern has formed on the daily timeframe. If the pair manages to firmly break above 1.0620, it may target 1.0680–1.0700. A cancellation of the upward scenario could be considered if the pair moves below 1.0450.

Further clues for determining the direction of EUR/USD could come from the following events:

Today at 12:00 (GMT+3): Germany’s IFO Business Climate Index,
Today at 13:00 (GMT+3): ECB member Frank Elderson’s speech,
Today at 13:00 (GMT+3): ZEW Economic Sentiment Index for the Eurozone.

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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Nasdaq 100 Reaches Record High

On 29th October, analysing the Nasdaq 100 (US Tech 100 mini on FXOpen) chart, we:
→ Drew a blue upward channel relevant for 2024.
→ Noted that the price was in a consolidation phase (indicated by narrowing purple lines) at the channel's median, suggesting a potential balance of supply and demand forces.
→ Warned that earnings season could trigger a volatility spike.
→ Suggested that the price was likely heading toward a new all-time high.

Since then:
→ Amid company earnings reports, we observed a volatility spike in November, which was further amplified by the release of US presidential election results.
→ The index achieved a new all-time high.

The Nasdaq 100 (US Tech 100 mini on FXOpen) chart shows that the index surpassed the $22,000 level for the first time yesterday. This was supported by positive trader sentiment ahead of tomorrow's Fed interest rate decision. According to Forex Factory, the rate will be cut by another 25 basis points (returning to the February 2023 level).

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) Stock Price Falls to a Two-Month Low

While the Nasdaq 100 index (US Tech 100 mini on FXOpen) climbed to an all-time high, Nvidia's (NVDA) stock price dropped below $131 during yesterday's trading session for the first time since mid-October. This bearish behaviour suggests a weakening of Nvidia's leading position. What is the reason?

A key driver could be the significant surge in Broadcom Inc. (AVGO) shares, a competitor to Nvidia. Following a roughly 20% price increase for AVGO in one day, another growth day followed, as we anticipated yesterday. As a result, amid Broadcom's strong forecast for 2025, AVGO shares have risen by 54% since early December, and investors may be reallocating their portfolios, selling NVDA and buying AVGO.

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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Why Is the Mexican Peso So Liquid?

The Mexican peso, a dynamic player in the global forex market, embodies a unique blend of historical resilience and modern financial attractiveness. As we delve into the reasons behind its impressive liquidity, this article offers valuable insights for traders and investors eager to understand the intricacies and opportunities presented by one of Latin America's most prominent currencies.

The Mexican Peso: An Overview

The Mexican peso, a currency with a rich history and a significant presence in the global market, often surprises investors asking, “How much is the Mexican peso worth?” when they discover it’s one of the strongest emerging market currencies around.

Its performance in the forex market is closely tied to macroeconomic indicators, particularly those from the United States, including benchmark interest rates. The currency has benefitted from Mexico's nearshoring boom and soaring remittances, alongside a healthy fiscal position, contributing to its appeal to investors and traders worldwide.

As the most traded currency in Latin America, the Mexican peso’s popularity underscores its importance in the regional and global financial landscape. With this background in mind, let’s take a look at 3 reasons the Mexican peso is so liquid.

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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Market Analysis: AUD/USD and NZD/USD Sink Further, Losses Mount

AUD/USD declined below the 0.6400 and 0.6375 support levels. NZD/USD is also moving lower and might extend losses below 0.57350.

Important Takeaways for AUD/USD and NZD/USD Analysis Today

• The Aussie Dollar started a fresh decline from well above the 0.6400 level against the US Dollar.
• There is a connecting bearish trend line forming with resistance at 0.6340 on the hourly chart of AUD/USD at FXOpen.
• NZD/USD declined steadily from the 0.5790 resistance zone.
• There is a short-term bearish trend line forming with resistance at 0.5750 on the hourly chart of NZD/USD at FXOpen.

AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair struggled to clear the 0.6430 zone. The Aussie Dollar started a fresh decline below the 0.6400 support against the US Dollar, as discussed in the previous analysis.

The pair even settled below 0.6375 and the 50-hour simple moving average. There was a clear move below 0.6340. A low was formed at 0.6317 and the pair is now consolidating losses. On the upside, an immediate resistance is near the 0.6340 level.

There is also a connecting bearish trend line forming with resistance at 0.6340. It is close to the 23.6% Fib retracement level of the downward move from the 0.6429 swing high to the 0.6317 low.

The next major resistance is near the 0.6375 zone or the 50% Fib retracement level of the downward move from the 0.6429 swing high to the 0.6317 low, above which the price could rise toward 0.6385. Any more gains might send the pair toward the 0.6430 resistance.

A close above the 0.6430 level could start another steady increase in the near term. The next major resistance on the AUD/USD chart could be 0.6500.

On the downside, initial support is near the 0.6320 zone. The next support sits at 0.6350. If there is a downside break below 0.6350, the pair could extend its decline. The next support could be 0.6320. Any more losses might send the pair toward the 0.6300 support.

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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Amazon (AMZN) Stock Price Surpassed $230 for the First Time

On 12th November, while analysing Amazon (AMZN) stock chart, we:

→ drew two ascending channels (a long-term one marked in blue and a steeper one represented by black lines);
→ anticipated a test of the $200 level as part of a correction.

According to the AMZN chart, since then:
→ the price corrected with a test of the $200 level (indicated by an arrow), aided by the median line of the blue channel;
→ it continued to climb within the mentioned channels, reaching a new all-time high — this week, the price hit $233.

Positive market sentiment is driven, among other factors, by:
→ Amazon's strong earnings report for the previous quarter;
→ expectations of a Federal Reserve rate cut, which helped the Nasdaq 100 index reach a new record, as we reported yesterday.

Can the price continue rising?

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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Forex Traders Await the Fed's Decision

The Federal Reserve is set to announce its interest rate decision today at 21:00 GMT+2, with Fed Chair Jerome Powell holding a press conference 30 minutes later. According to Forex Factory, the market expects a rate cut to 4.25%-4.50% from the current 4.50%-4.75%.

Analysts at Apollo Global Management, in their Economic Outlook, predict:
→ In 2025, the Fed will continue lowering rates but at a slower pace than the market anticipates;
→ By the end of 2025, the rate is expected to settle at 4.0%.

In anticipation of today's decision, the currency markets are experiencing a period of calm.

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.