Adobe's Stock Surges Approximately 15% After Report Publication
FXOpen Blog
by FXOpen
4h ago
On June 5th in the article "Is ADBE Stock Undervalued?", we highlighted several bullish signs, suggesting that the report published on June 13th could be a driver for a resumption of the uptrend. Adobe's report released on June 13th proved to be strong: → Earnings per share: Actual = $4.48, Forecast = $4.39; → Revenue: Actual = $5.309 billion, Forecast = $5.291 billion. A 10% increase compared to the same quarter last year. Furthermore, the company stated that: → AI is more of an advantage than a hindrance to business development; → “We’re seeing early success monetizing new AI technologies a ..read more
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Nikkei Index Falls Below 38,000 Points This Month for First Time
FXOpen Blog
by FXOpen
4h ago
According to today's Nikkei 225 (Japan 225 on FXOpen) chart, the index quote dropped below 38,000 points at Monday's low, followed by a recovery (shown by an arrow). One of the drivers of the decline was the automotive sector, whose shares led during the downturn. In particular, according to Reuters, Toyota Motors' shares fell by more than 2% as the company faces difficulties due to a certification scandal. Japanese national broadcaster NHK reported that Toyota will extend the production halt for some models until the end of July. The fact that the Nikkei 225 (Japan 225 on FXOpen) price is re ..read more
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3 Line Strike Pattern: What It Means and How to Use It in Trading
FXOpen Blog
by FXOpen
4h ago
Candlestick patterns are crucial tools for traders, offering valuable insights into market sentiment and potential price movements. Among these patterns, the Three Line Strike setup is particularly sought after by traders in forex, stock, commodity, and index markets. This article explores the intricacies of the Three Line Strike, explaining how to identify it on charts, highlighting its unique characteristics, and discussing how to incorporate it into trading strategies. Three Line Strike Pattern: An Overview The Three Line Strike is a candlestick pattern used in technical analysis to trade ..read more
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Weekly Market Wrap With Gary Thomson: S&P 500 Index, US Dollar, FTSE 100 Index, Gold Price
FXOpen Blog
by FXOpen
3d ago
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. S&P 500 Index Hits Record after Major News Dollar Falls after Inflation Data: is a Change in Medium-Term Trends on the Horizon? FTSE 100 Index Declines after Labour Market News Gold Price Drops after US Employment Report 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 opportuni ..read more
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European Stock Indices Decline Amid Political Uncertainty
FXOpen Blog
by FXOpen
3d ago
Today, the Eurostoxx 50 index (Europe 50 on FXOpen) has dropped below the early May minimum, reflecting escalating market concerns over the upcoming French elections, as reported by Reuters. Finance Minister Bruno Le Maire's acknowledgment that the current political crisis could evolve into a financial crisis has amplified fears, extending the political risk until June. How long might this decline persist? Fundamentally, statements from authorities could calm the markets. From a technical analysis perspective, the Eurostoxx 50 index chart (Europe 50 on FXOpen) provides clearer insights: → Si ..read more
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NZD/USD Exchange Rate Falls from Nearly 5-Month High
FXOpen Blog
by FXOpen
3d ago
The NZD/USD exchange rate has dropped from its highest level in nearly five months. On Wednesday, following the release of US inflation data, the NZD/USD rate exceeded 0.6220 for the first time since 15 January 2024. However, today the rate has fallen approximately 1.3% from Friday’s peak, suggesting that the market's reaction to the US inflation news was overly emotional. According to Reuters: → Fed Chair Jerome Powell indicated a readiness to keep rates steady until clearer economic signals suggest a need for cuts. → Traders have reduced the likelihood of a Fed rate cut at the September mee ..read more
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What Is a Standard Deviation, and How Can You Use It in Trading?
FXOpen Blog
by FXOpen
3d ago
Understanding market volatility is essential for effective trading, and one of the most valuable tools for measuring it is standard deviation. This gauge quantifies the dispersion of asset prices around their mean and provides insights into the variability and potential risk associated with a financial instrument. This article delves into what standard deviation is, its calculation, interpretation, practical implementation, and its limitations. What Is Standard Deviation? Standard deviation is a statistical measure that quantifies the dispersion or variability of a set of data points relativ ..read more
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Market Analysis: GBP/USD and EUR/GBP Poised For More Losses
FXOpen Blog
by Aayush Jindal
3d ago
GBP/USD failed to climb above 1.2860 and trimmed all gains. EUR/GBP is declining and trading below the 0.8410 support level. Important Takeaways for GBP/USD and EUR/GBP Analysis Today · The British Pound is showing bearish signs below 1.2800. · There is a key bearish trend line forming with resistance near 1.2765 on the hourly chart of GBP/USD at FXOpen. · EUR/GBP is declining and showing bearish signs below 0.8460. · There is a major declining channel forming with support at 0.8410 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair st ..read more
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Bitcoin Price Losing Correlation with Stock Market
FXOpen Blog
by FXOpen
4d ago
On May 17, Bloomberg reported that Bitcoin's price was highly correlated with tech stocks. At that time, it was suggested that the leading cryptocurrency was perceived as a growth asset, influenced by: → the launch of Bitcoin ETFs; → expectations of Fed rate cuts. However, during yesterday's Fed meeting, it was announced that rates might be cut once or twice (if inflation slows down significantly) by the end of the year. Following this, the Nasdaq 100 tech stock index (US Tech 100 mini on FXOpen) reached a historic high, surpassing 19,500 points. In contrast, Bitcoin's price is showing less c ..read more
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S&P 500 Index Hits Record After Major News
FXOpen Blog
by FXOpen
4d ago
Yesterday, significant news regarding US inflation was released. According to ForexFactory: → Year-on-year Consumer Price Index (CPI): actual = 3.3%, forecast = 3.4%, previous = 3.4%; → Month-on-month CPI: actual = 0.0%, forecast = 0.1%, previous = 0.3%; → Month-on-month Core CPI (excluding food and energy): actual = 0.2%, forecast = 0.3%, previous = 0.3%. These official figures indicate that US inflation is slowing down. This bolstered expectations that the current tight monetary policy might ease. Consequently: → the dollar weakened (as we anticipated yesterday while analysing the USD/CAD c ..read more
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