Daily Market Analysis By FXOpen

[FXOpen Trader]

Watch FXOpen's June 26 - 30 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: GBP/EUR, AAPL ALL-TIME HIGH, GOLD DROP

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.

• Market Analysis: Yield curve and stock market downside risks. Alarming signals?
• GBP/EUR Analysis: GBP makes a sudden dip against EUR. Is a recession finally looming, or is it just a blip?
• Market Analysis: AAPL share price hits all-time high. Will we see the company's capitalization reach USD 3 trillion?
• Market Analysis: What made gold drop to 3-month low?

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


Disclaimer: 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.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo

 

[FXOpen Trader]

GBP/USD Resumes Increase While EUR/GBP Faces Hurdle

GBP/USD jumped above the 1.2650 and 1.2690 resistance levels. EUR/GBP declined and now trading below the 0.8595 resistance.

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

• The British Pound is trading in a bullish zone above 1.2650 against the US Dollar.
• There was a break above a key bearish trend line with resistance near 1.2650 on the hourly chart of GBP/USD at FXOpen.
• EUR/GBP started a fresh decline from the 0.8660 resistance zone.
• There is a major bearish trend line forming with resistance near 0.8595 on the hourly chart at FXOpen.

GBP/USD Technical Analysis

On the hourly chart of GBP/USD at FXOpen, the pair started a fresh increase from the 1.2600 support zone. The British Pound climbed above the 1.2650 resistance zone against the US Dollar.

The bulls were able to pump the pair above 1.2690 and the 50-hour simple moving average. The pair settled above the 61.8% Fib retracement level of the downward move from the 1.2759 swing high to the 1.2591 low.

Finally, the pair climbed above 1.2700 but struggled to clear the 1.2720 resistance zone. The pair is now consolidating above 1.2690. The GBP/USD chart indicates that the pair is facing resistance near the 76.4% Fib retracement level of the downward move from the 1.2759 swing high to the 1.2591 low at 1.2720.

The next major resistance is near the 1.2745 level. If the RSI moves above 70 and the pair climbs above 1.2745, there could be another rally. In the stated case, the pair could rise toward the 1.2800 level or even 1.2840.

On the downside, there is a major support forming near the 50-hour simple moving average at 1.2650. If there is a downside break below the 1.2650 support, the pair could accelerate lower.

The next major support is near the 1.2600 zone, below which the pair could test 1.2550. Any more losses could lead the pair toward the 1.2500 support.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

What Events Will Affect Your Trading This Week?

Despite a quiet start to the week for the US holidays, there is still plenty going on. The Reserve Bank of Australia unexpectedly kept interest rates at 4.1%, sending the Aussie dollar lower before flying back like a boomerang to where it was trading, at 0.6680 against the USD.


On Wednesday (21:00), we get to see the minutes of the FOMC's last meeting, where they held rates at 5.25%. However, the market is pricing in at least two more rate hikes by the end of the year, so traders will be looking for clues in the minutes as to if and when this might happen.

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Disclaimer: 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.

 

[FXOpen Trader]

EUR/USD Drops Again While USD/CHF Gains Strength

EUR/USD started a fresh decline from the 1.0930 resistance. USD/CHF is rising and might aim a move toward the 0.9015 resistance.

Important Takeaways for EUR/USD and USD/CHF Analysis Today

• The Euro struggled to clear the 1.0930 resistance against the US Dollar.
• There is a major bearish trend line forming with resistance near 1.0890 on the hourly chart of EUR/USD at FXOpen.
• USD/CHF is gaining pace above the 0.8965 resistance zone.
• There is a key bearish trend line forming with resistance near 0.8980 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair struggled many times near the 1.0930 resistance. The Euro started a fresh decline from the 1.0931 swing high against the US Dollar.

There was a move below the 50-hour simple moving average at 1.0890. The bears were able to push the pair below the 50% Fib retracement level of the upward move from the 1.0835 swing low to the 1.0931 high.

It seems like the pair might continue to move down considering the RSI is below 35. On the downside, immediate support on the EUR/USD chartis seen near 1.0845. It is close to the 76.4% Fib retracement level of the upward move from the 1.0835 swing low to the 1.0931 high.

The next major support is near the 1.0835 level. A downside break below the 1.0835 support could send the pair toward the 1.0780 level.

Immediate resistance on the upside is near the 50-hour simple moving average at 1.0890. It is close to a major bearish trend line. The first major resistance is near 1.0920. The next key resistance is near the 1.0930 level.

An upside break above the 1.0930 level might send the pair toward the 1.0970 resistance. Any more gains might open the doors for a move toward the 1.1010 level.

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Disclaimer: 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.

 

[FXOpen Trader]

USDJPY Analysis: Calm Before the Storm?

There is some lull (consolidation) in the USD/JPY market, which is evidenced by the width of the Bollinger bands, which dropped to the lows of the end of February on the 4-hour chart. Bank holidays in the US in connection with the celebration of Independence Day contributed to the decrease in volatility.

However, the calm could be replaced by a storm.

The USD/JPY chart shows that the bulls have tested the level of 144 and on the morning of July 5, the rate is gradually rising towards the level of 145 — technically this can be interpreted as a demand force for dollars.

Reuters reports the words of Shusuke Yamada, chief forex strategist at Bank of China, who believes that the market expects further weakening of the yen in the medium term. And this is important, because last fall, the level of 145 yen per US dollar was the trigger for intervention by the Bank of Japan.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

FTSE 100 Drops Below June Low

Earlier we wrote about the reasons for the weak behavior of the UK stock market.

Firstly, it is the highest inflation among the G7 countries.

Yesterday JP Morgan analysts suggested that the base rate in the UK could be raised to 7% under certain scenarios. And the likelihood of a hard landing for the British economy next year is rising due to the impact of rising borrowing costs on business confidence and rising unemployment.

Secondly, this is a decline in commodity prices, which is important for the FTSE 100 index, where the share of oil and mining companies is relatively large. Commodity prices reflect expectations of a global economic growth outlook that has been overshadowed by news from China. There, according to the latest data, activity in the services sector in June grew at the slowest pace in 5 months.

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Disclaimer: 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.

 

[FXOpen Trader]

Gold Price Struggles While Crude Oil Price Aims Higher

Gold price is moving lower below the $1,918 support. Crude oil price is rising as the bulls aim for a move above the $72.20 resistance.

Important Takeaways for Gold and Oil Prices Analysis Today

• Gold price failed to clear the $1,930 resistance and start a fresh decline against the US Dollar.
• A major bearish trend line is forming with resistance near $1,925 on the hourly chart of gold at FXOpen.
• Crude oil prices are also moving higher above the $71.50 resistance zone.
• There is a key bullish trend line forming with support near $70.50 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price struggled to start a fresh increase above the $1,930 resistance. The price started a fresh decline below the $1,918 support.

There was a close below the 50-hour simple moving average and $1,912. It tested the $1,910 support zone. A low is formed at $1,902.60 and the price is now consolidating losses above the 23.6% Fib retracement level of the downward move from the $1,927 swing high to the $1,902 low.

The price is now facing resistance near the $1,912 level. The next major resistance is near the 50-hour simple moving average at $1,918. It is close to the 61.8% Fib retracement level of the downward move from the $1,927 swing high to the $1,902 low.

The main resistance is near a bearish trend line at $1,925 and then $1,930. An upside break above the $1,930 resistance could send Gold price toward $1,938. Any more gains may perhaps set the pace for an increase toward the $1,950 level.

Initial support on the downside is near the $1,902 level. The first major support is near the $1,892 level. If there is a downside break below the $1,892 support, the price might decline further. In the stated case, the price might drop toward the $1,880 support.

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Disclaimer: 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.

 

[FXOpen Trader]

The Price Has Updated the High of the Year, What's Wrong With That?

In an interview with Fox Business, the CEO of Black Rock fund (over $8 trillion under management), Larry Fink, made some positive comments about bitcoin. Briefly:

→ bitcoin can become a catalyst for the tokenization of various assets and securities, which, in turn, can lead to a revolution in the financial sector;
→ bitcoin has unique properties that distinguish it from traditional stores of value such as gold. For example, its international recognition.

Fink also expressed the hope that the positive experience of cooperation between Black Rock and the SEC will allow the regulator to approve the launch of an ETF based on bitcoin (the application has already been submitted, but Larry did not give forecasts on the timing of its consideration).

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

Watch FXOpen's July 3 - 7 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: TSLA STOCK, USD/JPY, NASDAQ, FTSE 100 DROPS

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.

• Market Analysis: Wall Street optimistic ahead of inflation news
• TSLA Stock: Price Chart Analysis. The bull market continues...
• Market Analysis. USD/JPY: Calm before the storm?
• NASDAQ Analysis: Index Is at 1-year High! Is It Sustainable?
• Market Analysis: FTSE 100 drops below June low. What gives hope to the bulls?

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


Disclaimer: 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.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo

 

[FXOpen Trader]

GBP/USD Regains Strength, USD/CAD Corrects Lower

GBP/USD started a strong increase and retested 1.2850. USD/CAD is correcting gains and trading below the 1.3300 support.

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

• The British Pound started a steady increase above the 1.2760 resistance.
• There was a break above a connecting trend line with resistance near 1.2780 on the hourly chart of GBP/USD at FXOpen.
• USD/CAD declined below the 1.3320 and 1.3300 support levels.
• It traded below a key bullish trend line with support at 1.3320 on the hourly chart at FXOpen.

GBP/USD Technical Analysis

On the hourly chart of GBP/USD at FXOpen, the pair was able to climb above the 1.2720 resistance zone. The British Pound gained strength after it broke the 50-hour simple moving average at 1.2760.

During the increase, there was a break above a connecting trend line with resistance near 1.2780. It opened the doors for a move toward the 1.2850 resistance where the bears emerged. A high is formed near 1.2849 and the pair is now consolidating gains.

The RSI dipped below the 60 level on the GBP/USD chart and the pair is now testing the 23.6% Fib retracement level of the upward move from the 1.2673 swing low to the 1.2849 high.

Immediate resistance is forming near the 1.2850 level. The next resistance is near 1.2880. An upside break above the 1.2880 zone could send the pair toward 1.2950. Any more gains might open the doors for a test of 1.3000.

On the downside, initial support is near the 1.2805 area. The next major support is near the 50% Fib retracement level of the upward move from the 1.2673 swing low to the 1.2849 high at 1.2760 and the 50-hour simple moving average.

If there is a break below 1.2760, the pair could extend its decline. The next key support is near the 1.2720 level. Any more losses might call for a test of the 1.2650 support.

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Disclaimer: 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.

 

[FXOpen Trader]

Weak Dollar's Position

Bloomberg writes that the big hedge funds have flipped and are now taking a short position on the dollar in the expectation that the Fed is nearing the end of its cycle of raising interest rates.

It is possible that the weakness of the USD against a basket of other currencies is influenced by the announced intentions of the BRICS countries to issue a currency backed by gold.

Be that as it may, however, the EUR/USD rate has risen by an impressive 1.5% since the low of July 6, reaching a maximum since May 8. At the same time, the EUR/USD chart shows that:

→ the price has broken the downward channel upwards (shown in red);

→ the bulls are so bold that they are trying to break the double SHS pattern formation.

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Disclaimer: 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.

 

[FXOpen Trader]

Standard Chartered Predicts Bitcoin at $120k

The value of the largest cryptocurrency could reach USD 50,000 this year and USD 120,000 by the end of 2024, according to analysts at Standard Chartered, Reuters reports.

Note that earlier, bank analysts predicted that the cost of BTC at the end of 2024 would be USD 100,000, but now they have increased their forecast for the price of bitcoin by 20%, based on the assumption of a change in the behavior of miners that can limit the supply of bitcoins as its price rises.

Time will tell how true the bitcoin price forecast for 2024 from Standard Chartered will be, but on the BTC/USD chart today there is an argument in favor of the fact that the forecast can be realized. This is the nature of price action around the USD 30k psychological level.

Compare 2 periods when the price of bitcoin exceeded USD 30k.

In April, the price met strong resistance only USD 500 higher, and a week after the breakdown of USD 30k, it rushed down.

And now is the second period, which began on June 21 and continues to last. The level of immediate resistance above the psychological level is already higher — at around 31k, and the price of bitcoin has not fallen (except for short-term punctures) below USD 30k for almost 3 weeks.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

EUR/USD Smashes Resistance While USD/JPY Nosedives

EUR/USD started a fresh increase above the 1.0975 resistance. USD/JPY is declining and showing bearish signs below the 141.20 level.

Important Takeaways for EUR/USD and USD/JPY Analysis Today

• The Euro is rising and trading well above the 1.1020 resistance zone.
• There is a key bullish trend line forming with support near 1.1020 on the hourly chart of EUR/USD at FXOpen.
• USD/JPY is trading in a bearish zone below the 141.20 and 140.20 levels.
• There is a major bearish trend line forming with resistance near 140.20 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0835 zone. The Euro climbed above the 1.0900 resistance zone against the US Dollar.

The pair even settled above the 1.0975 resistance and the 50-hour simple moving average. There was an upside break above the 76.4% Fib retracement level of the downside correction from the 1.1026 swing high to the 1.0977 low.

The pair is now consolidating gains below the 1.1040 resistance. The first major support is near a key bullish trend line at 1.1020.

The next key support is near the 50-hour simple moving average at 1.0995. If there is a downside break below 1.0995, the pair could drop toward the 1.0975 support. The main support on the EUR/USD chart is near 1.0900, below which the pair could start a major decline.

On the upside, the pair is now facing resistance near the 1.236 Fib extension level of the downside correction from the 1.1026 swing high to the 1.0977 low at 1.1040.

The next major resistance is near the 1.1065 level. An upside break above 1.1065 could set the pace for another increase. In the stated case, the pair might rise toward 1.1120.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

The Dollar Index Falls to a Minimum of the Year

Yesterday, important data on inflation in the United States was published: the CPI index was 3% in annual terms, this is the lowest value since the beginning of 2021. Thus, inflation is slowing down for the 12th month in a row, approaching the target of 2%.

Markets greeted the news with a surge of volatility — perhaps the quotes win back the expectations that the Fed will soften the current tightening policy (which is far from a fact). Against this background, the dollar index, calculated against a basket of other currencies, fell to a minimum of 2023 — respectively, the prices of EUR/USD and GBP/USD reached the highs of the year. Dollar-denominated stocks also rose in price (the Nasdaq 100 index updated a year's high), as did commodities (the price of oil rose to a maximum since the beginning of May, and gold rose in price by more than USD 20 in 2 hours after the news was published).

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Disclaimer: 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.

 

[FXOpen Trader]

Swiss Franc Strengthens to 2020 Pandemic Levels

The USD/CHF rate fell below 0.87 for the first time since the spring of 2020, when financial market participants saw the Swiss franc as a "safe haven" amid panic associated with the spread of the coronavirus pandemic. Perhaps the demand for the Swiss franc in 2023 is facilitated by geopolitical factors: ongoing hostilities in Ukraine, tensions between the US and China.

The immediate hope for the bulls in the USD/CHF market may be presented by:

→ the lower line of the long-term channel (shown in red), which, from the point of view of technical analysis, can become a support for a rebound;

→ new statistics (once again, will be published today at 15:30 GMT);

→ official statements of influential people. For example, FOMC member Christopher J. Waller is scheduled to speak late Thursday evening, his words about new Fed rate hikes will help strengthen the dollar.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

XRP Is Not a Security!

The ruling was announced by Judge Analisa Torres of the Southern District of New York. The litigation that lasted more than three years between the US SEC regulator and Ripple Labs ended in favor of the latter, to the great joy of the entire cryptocurrency community.

The head of Ripple Labs, Brad Garlinghouse, thanked everyone who helped the company win the lawsuit. And the Coinbase exchange announced that the XRP token will be allowed to trade again.

The price of the XRP token rose sharply in price against the backdrop of a positive court decision (we pointed out the likelihood of this event back in winter), while:

→ the capitalization of Ripple exceeded $40 billion;

→ "shortists" (those who bet on the price decrease) lost about $31 million, as evidenced by the total data on the liquidation of positions on the largest cryptocurrency exchanges;

→ the sharp rise in the price of the XRP token led to an increase in the price of BTC/USD, ETH/USD and other cryptocurrencies.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

XAGUSD Analysis: Silver Price Up Over 7% in 2 Days

On Friday morning the price of silver was USD 24.8. The sharp rise was triggered by the weakening of the dollar on Wednesday, which was influenced by inflation data in the US.

When looking for reasons why silver is stronger than other commodity markets (for example, gold has risen in price by no more than 1.5% over the same period), you may not find satisfying explanations, but pay attention to information on twitter by Robert Kiyosaki (author of the books in the Rich Dad series). In his opinion, on August 22 in South Africa, at the BRICS forum, the creation of a currency backed by gold will be announced. Therefore, Robert predicts problems for the US dollar and suggests considering buying gold, silver, and bitcoin.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

AUD/USD and NZD/USD Could Extend Gains

AUD/USD is showing positive signs and might climb further higher above 0.6900. NZD/USD is also rising and aiming for a move above the 0.6410 resistance zone.

Important Takeaways for AUD USD and NZD USD Analysis Today

• The Aussie Dollar started a fresh increase above the 0.6790 and 0.6845 levels against the US Dollar.
• There is a connecting bullish trend line forming with support near 0.6790 on the hourly chart of AUD/USD at FXOpen.
• NZD/USD is gaining bullish momentum above the 0.6355 support.
• There is a key bullish trend line forming with support near 0.6395 on the hourly chart of NZD/USD at FXOpen.

AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from the 0.6630 support. The Aussie Dollar was able to clear the 0.6790 resistance to move into a positive zone against the US Dollar.

There was a close above the 0.6845 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6900 zone. A high is formed near 0.6894 and the pair is now consolidating gains. The AUD/USD chartindicates that the pair is now facing resistance near 0.6900.

The first major resistance might be 0.6920. An upside break above the 0.6920 resistance might send the pair further higher. The next major resistance is near the 0.6945 level. Any more gains could clear the path for a move toward the 0.7000 resistance zone.

On the downside, initial support is near the 23.6% Fib retracement level of the upward move from the 0.6682 swing low to the 0.6894 high at 0.6845.

The next support could be a connecting bullish trend line at 0.6790 and the 50-hour simple moving average. It is close to the 50% Fib retracement level of the upward move from the 0.6682 swing low to the 0.6894 high.

If there is a downside break below the 0.6790 support, the pair could extend its decline toward the 0.6730 level. Any more losses might signal a move toward 0.6630.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: 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.

 

[FXOpen Trader]

Watch FXOpen's July 10 - 14 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: USD/CHF, UK STOCK MARKET, S&P 500 PRICE DROP

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.

• Market Analysis: What to expect from the upcoming reporting season
• Market Analysis: Trials for the UK stock market continue
• CNBC Pro Poll: Strategists see S&P 500 price drop before year-end
• USD/CHF Analysis: Swiss franc strengthens to 2020 pandemic levels

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


Disclaimer: 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.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo

 

[Mr Forex]

Hi,
My dear friends, Today we are talking about Forex trading, forex market, and how it is work. In start we will have to learn basics of forex trading. Now a days, people can totally depend on online earnings and markets. So, this is the reason how forex markets and platform becomes common among the people around the world. If you want to compete with world of economy, you will have to be a successful trader.
Let's get started;-

Introduction:
In recent years, the field of forex trading has seen remarkable expansion and popularity. With its potential for financial independence and a flexible lifestyle, an increasing number of people are driven to investigate the lucrative options it offers. However, it is critical to recognize that forex trading is not a get-rich-quick plan; rather, it needs commitment, education, and a strategic approach. In this essay, we will look at the fundamentals of forex trading and chart a course to success in this dynamic and fascinating market.


1.

Understanding the Forex Market ;-
Forex, or foreign exchange, refers to the worldwide decentralized market where multiple currencies are purchased and exchanged. To thrive in forex trading, you must first understand the market's complexities, which include significant currency pairs, economic indicators, and so on.

Education and Skill Development:-
Forex trading necessitates ongoing education and skill development. Begin by learning the fundamentals of forex trading, such as vocabulary, trading platforms, and order types. To broaden your expertise, look into educational materials like as books, online courses, webinars, and trustworthy trading forums. Additionally, use demo accounts to obtain hands-on experience without putting real money at risk.

Create a Trading Strategy:-
Successful forex traders use well-defined trading strategies that are suited to their specific aims and risk tolerance. A trading strategy specifies when to enter and exit transactions, the size of the position, and risk management methods. Day trading, swing trading, and long-term investment are all examples of strategies. Before executing your plan, you should backtest and enhance it using past data.
2.
Risk Management:-
Risk management is an essential part of forex trading. Never put more money at risk than you can afford to lose, and use stop-loss orders to limit possible losses. Diversify your portfolio by trading many currency pairings, and avoid putting all of your money into a single deal. Emotional control is also important; judgments based on fear or greed can lead to poor judgment and rash behavior.

Continuous Monitoring and Adaptation :-
Forex markets are always changing, impacted by economic news, geopolitical events, and market emotion. Monitor your transactions on a regular basis and remain up to speed on world news that may affect the currencies you trade. Because market circumstances can change quickly, be prepared to modify your plan as needed.