Yesterday, the USD/CAD exchange rate climbed above 1.3785 for the first time since mid-April. However, today's USD/CAD chart shows that it failed to consolidate at this peak and has dropped to a weekly low. These fluctuations might be interpreted as traders positioning themselves ahead of today's critical events. According to ForexFactory: At 15:30 GMT+3, US inflation data will be released; At 21:00 GMT+3, the Fed's interest rate decision will be announced; At 21:30 GMT+3, Powell's press conference will take place. Technical analysis of the USD/CAD chart: The price made a false bullish br ..read more

Ethereum, a leading platform in the blockchain space, continues to capture significant interest from investors and developers alike. This article provides an in-depth analysis of Ethereum's potential price movements, examining key factors that could influence its value from the end of 2024 through 2030 and beyond. Ethereum Price History Ethereum was launched on July 30, 2015, by a group of developers, including Vitalik Buterin. Over the years, the coin has seen dramatic price movements in both directions. After its launch, ETH initially traded at around $1 for several months. However, its val ..read more

The British stock index FTSE 100 (UK 100 on FXOpen) dropped nearly 1% yesterday due to the release of economic data indicating a rise in unemployment. According to ForexFactory: → The Claimant Count Change (number of unemployment benefit claims) was 50,000 (expected = 10.2k, previous month = 8.4k). This is the highest number since March 2021. → The unemployment rate slightly increased to 4.4% compared to the previous value of 4.3%. However, today the FTSE 100 (UK 100 on FXOpen) chart is showing signs of recovery. Fundamentally: → GDP news did not bring any unpleasant surprises; → Weakening in ..read more

EUR/USD gained bearish momentum below the 1.0810 support. USD/JPY is rising and might take out the 157.40 resistance. Important Takeaways for EUR/USD and USD/JPY Analysis Today · The Euro started a fresh decline below the 1.0810 support zone. · There is a connecting bearish trend line forming with resistance at 1.0760 on the hourly chart of EUR/USD at FXOpen. · USD/JPY climbed higher above the 155.25 and 156.25 levels. · There is a connecting bullish trend line forming with support at 156.85 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, th ..read more

Yesterday, 10 June, at the WWDC2024 conference, the American corporation Apple unveiled its new artificial intelligence system, Apple Intelligence (AI). Apple Intelligence will allow users to enhance their text and communicate more effectively: rewriting, proofreading, and summarising text almost everywhere, including in mail, notes, pages, and third-party applications. The Rewrite function will enable changing the tone of messages, adding jokes, and rephrasing sentences. Key features include: → AI's capability to understand the user's "personal context." → AI's ability to generate unique pho ..read more

Candlestick patterns are important tools in analysing market movements and making trading decisions. Among these patterns, the Doji candlestick is particularly popular for identifying potential price reversals. The Gravestone Doji is a unique and powerful candlestick pattern. Like other Dojis, it reflects the market's sentiment and provides insights into the ongoing battle between buyers and sellers. This article explores the characteristics of the Gravestone Doji candlestick pattern and explains how to identify and trade it. Gravestone Doji Pattern: An Overview In technical analysis, Doji c ..read more

According to CNBC, Goldman Sachs analysts believe that Brent crude oil prices should increase in the third quarter due to summer fuel demand leading to a “significant” deficit—approximately 1.3 million barrels per day. They forecast that the price of Brent could rise to $86 per barrel with a “ceiling” around $90. This implies an approximate +7% increase from current levels and a continued rise from the low set on 4 June. How realistic is this? Technical analysis of the XBR/USD chart indicates that: → In the long term, Brent crude oil prices are forming oscillations with diminishing amplitude ..read more

As per ForexFactory, the Non-Farm Employment Change report revealed an actual increase of 272 thousand jobs (expected = 182k, previous value = 165k). A robust job market provides further arguments for the Federal Reserve to continue its tight monetary policy. Consequently, the news led to a rise in the dollar index and a decrease in assets denominated in US dollars: → Currencies depreciated; for instance, the NZD/USD rate decreased by approximately 1.5%; → Cryptocurrencies declined; Bitcoin dropped by roughly 3%; → Gold also decreased in price. The situation worsens for the gold price with th ..read more

Investors will begin the week in a state of uncertainty regarding the outlook of Europe's political landscape. The four-day European Parliament elections concluded on Sunday. According to Reuters, the results showed a significant gain for eurosceptic-nationalists, who have displaced liberals and greens. Additionally, President Emmanuel Macron dissolved the French Parliament, calling for early legislative elections later this month after losing to Marine Le Pen's far-right party in the European Union elections. All this puts pressure on the structure of the European Union, weakening the euro's ..read more

In the realm of technical analysis, identifying and interpreting candlestick patterns is a fundamental skill for traders. Among these, bullish and bearish counterattack lines are notable for their potential to signal market reversals. Understanding their signals can enhance a trader’s ability to make informed decisions and optimise their trading strategies. In this article, you will learn how to identify counterattack lines, read their signals, and implement them in your trading. Counterattack Lines: An Overview Bullish and bearish counterattack lines are candlestick patterns that signal a po ..read more