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British Pound hits the deck as Western markets raise interest rates

At the end of last week, the much anticipated action from many central banks across the Western world took place, and interest rates were increased once again. There were many forecasts during the advent of the interest rate rises which largely focused on the United States Federal Reserve Bank's anticipated

A Comprehensive Guide to Double Top Pattern Trading

A double top is a popular technical analysis tool that allows traders to forecast a trend reversal. It’s one of the most common patterns and it can be easily found in any timeframe of any asset. Still, some traders confuse its signals. This FXOpen article will guide you through

A Comprehensive Guide on How to Use the Symmetrical Triangle in Trading

In technical analysis, a symmetrical triangle is a tool that traders use to forecast a price direction. It’s a bilateral pattern, meaning it provides buy and sell signals. This is the biggest challenge for traders. In this FXOpen article, we will try to explain how to read the symmetrical

GBP/USD Drops Sharply While EUR/GBP Gains Momentum

GBP/USD started a fresh decline below the 1.2200 support zone. EUR/GBP is rising and trading above the 0.8920 support zone. Important Takeaways for GBP/USD and EUR/GBP· The British Pound started a fresh decline from the 1.2400 resistance against the US Dollar. · There is

Watch FXOpen's January 30 - February 3 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports. What CHATGPT means for investorsBrent Crude Oil price takes a bashing overnightMarkets focus on Bitcoin as volatility takes it to 5-month highThe reaction of financial markets to the decision

How to Trade Bull and Bear Flag Patterns

Flags are relatively simple patterns; therefore, they are widely used, even by traders with little experience. This FXOpen guide will inform you about the psychology behind these formations and their standard trading rules. What Is a Flag Pattern?A flag pattern is a technical analysis tool. Although it goes against

A Comprehensive Guide on How to Use the Descending Triangle in Trading

A descending triangle is a technical analysis pattern, one of the triangle group of setups. It can be easily spotted on the price chart. Therefore, traders like implementing it in their trading strategies. However, this formation is challenging, as it provides reversal and continuation signals. This FXOpen guide will help

AUD/USD and NZD/USD Signals Downside Extension

AUD/USD is correcting gains from the 0.7150 resistance zone. NZD/USD is also declining and reaching an important support at 0.6450. Important Takeaways for AUD/USD and NZD/USD· The Aussie Dollar started a fresh decline from the 0.7150 resistance against the US Dollar. · There was

ETHUSD and LTCUSD Technical Analysis – 02nd FEB, 2023

ETHUSD: Three White Soldiers Pattern Above $1535Ethereum was unable to sustain its bearish momentum and after touching a low of 1535 on 30th Jan, the price started to correct upwards against the US dollar crossing the $1650 handle today in the Asian trading session. After touching a high of $1694

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. FXOpen UK: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
FXOpen EU: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.