Daily Market Analysis By FXOpen

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Candlestick Wick Analysis in Trading

Candlestick wicks often contain critical information about buying and selling pressure that body patterns alone may not reveal. By analysing wick length and position, traders can understand price rejection, momentum shifts, and liquidity zones.

In forex and CFD markets, sessions run long and liquidity shifts across the day. That setup often produces rejections at session boundaries, round numbers, and structural levels. Wick analysis trading may offer a quick read on sentiment that body-only views can miss. This article explains the candle wick meaning and outlines several strategies traders may use.

What Candle Wicks Show in Price Action
Candle wicks, or shadows, are the thin lines above and below a candlestick’s body that indicate how far the price moved during a specific period. The upper wick marks the highest price reached during the candle's period, and the lower wick marks the lowest.

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EUR/GBP: June ECB Meeting Could Bring the Period of Equilibrium to an End

Fundamental backdrop
The divergence in the monetary policy paths of the ECB and the Bank of England is creating a mixed outlook for the pair. Having completed a cycle of eight consecutive rate cuts in 2025, the ECB left its deposit rate unchanged at 2.0% at its April meeting. At the same time, according to Trading Economics, markets are assigning a high probability to a 25-basis-point rate increase as early as 11 June.

The Bank of England, by contrast, remains in wait-and-see mode. On 29 May, Governor Andrew Bailey suggested that inflation could temporarily exceed its target level, indicating that a rate increase from the current 3.75% is unlikely in the near term. As a result, the interest-rate differential between the two central banks could narrow as early as June, and this scenario is weighing on sterling.

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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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USD/JPY and USD/CAD Test Key Levels Ahead of the ADP Employment Report

The US dollar is holding on to its recently gained ground following a series of strong macroeconomic releases and a rise in US Treasury yields. Additional support for the greenback comes from resilient inflation readings, expectations that the Federal Reserve will maintain a restrictive policy stance, and cautious investor sentiment ahead of the release of the preliminary ADP employment report. At the same time, market participants continue to monitor oil price dynamics and other economic indicators that could alter perceptions of the health of the US economy.

Despite continued demand for the dollar, the next directional move remains uncertain. Both USD/JPY and USD/CAD have reached important technical resistance levels, where either profit-taking and a local correction may emerge, or a fresh bullish impulse could develop if US labour market data come in stronger than expected.

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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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Gold: Attempt to Break Out of the Short-Term Trend

Fundamental backdrop
In April, US inflation stood at 3.8% year-on-year — the highest level since May 2023. A significant contribution came from rising fuel prices amid escalating tensions in the Middle East. Market reaction was somewhat paradoxical: instead of inflows into safe-haven assets, the strong CPI print triggered a reassessment of Federal Reserve monetary policy. Expectations of a possible rate hike by the end of the year appear to have strengthened the US dollar and weighed on gold.

By the end of May, the precious metal had lost more than 4% and is currently trading roughly 20% below its January record high. Markets are now awaiting labour market data and comments from Federal Reserve officials as key guidance for the next reassessment of monetary expectations.

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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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Market Structure Shift (MSS) in Trading

A Market Structure Shift (MSS) is an ICT trading concept used to identify potential changes in market direction. It typically occurs when price fails to maintain the existing structure and breaks a key swing level with strong momentum, known as displacement.

Traders use MSS across forex and CFD markets to analyse possible reversals and shifts in momentum. This article explains what MSS means in trading, how traders identify it, and how it differs from BOS and CHoCH.

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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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Euro and Sterling Weaken as the Dollar Strengthens Ahead of Key US Data

The US dollar continues to hold firm against its major counterparts, supported by strong US macroeconomic data and expectations surrounding the release of further labour market indicators. Additional support for the greenback comes from persistent inflationary risks and the Federal Reserve’s cautious stance regarding further monetary policy easing. Against this backdrop, EUR/USD and GBP/USD remain under pressure, with market participants preferring to reduce long positions in the euro and sterling ahead of the next batch of economic releases.

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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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NVDA Shares Approach Strong Resistance

Production of NVIDIA processors is concentrated in Taiwan via TSMC, making the company sensitive to US trade policy. In the first quarter of fiscal 2026, NVIDIA recorded a $4.5bn write-down due to restrictions on H20 chip exports to China. At the same time, the revenue structure remains resilient — around 69% of revenue comes from the US domestic market, where hyperscalers continue to increase purchases of accelerators for data centres.

In the fourth quarter of fiscal 2026, revenue reached $68.1bn, representing a 73% year-on-year increase, while full-year revenue totalled $215.9bn (+65%). In late March, the company announced an expansion of its strategic partnership with Marvell Technology, including a $2bn investment and integration via the NVLink Fusion ecosystem, further extending its presence in the Physical AI and robotics segment. However, the overall macroeconomic backdrop remains subdued.

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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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ICT Turtle Soup Trading Strategy Explained

The ICT Turtle Soup is a price action strategy built around false breakouts. It targets failed moves at major support and resistance levels across forex and other markets. Turtle Soup trading focuses on liquidity sweeps that trap breakout traders before price reverses. It uses the reversal that often follows a stop run for entry timing.

This article covers the Turtle Soup forex setup along with its core components. Let’s discuss the conditions traders watch for and the entry framework that goes with them.

What Is the ICT Turtle Soup Pattern?
The ICT Turtle Soup is a reversal approach based on failed breakouts at key support and resistance levels. This forex reversal strategy comes from the Inner Circle Trader (ICT) methodology and frames failed moves as setups.

Traders aim to identify and take advantage of situations where the price briefly moves beyond a major support or resistance level, only to reverse direction shortly after. This movement is often seen in ranging markets where prices oscillate between established highs and lows.

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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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Amazon: Record Earnings Are Priced In as the Trend Loses Momentum

Fundamental backdrop
In the first quarter of 2026, Amazon (AMZN on FXOpen) reported a 17% increase in net sales to $181.5 billion. AWS revenue grew by 28% — its fastest pace in 15 quarters — while operating margin reached a record 13.1%. These results provided a solid fundamental foundation for the rally in Amazon shares seen from February through early May.

Now that the positive impact of the quarterly earnings release has likely been fully priced in, the market appears to be shifting its focus towards second-quarter prospects. A key event for the period will be the annual Prime Day sales event, scheduled for June 2026.

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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: Attempted Decline Following a Corrective Trend

The fundamental backdrop surrounding Tesla has been mixed in recent weeks. In the first quarter of 2026, the company exceeded consensus expectations, reporting adjusted EPS of $0.41 versus forecasts of $0.36, while revenue reached $22.38 billion. Gross margin in the automotive segment improved to 19.2%, and the company recorded its largest order backlog in more than two years.

At the same time, corporate developments continue to influence market sentiment. Speculation regarding a potential merger between Tesla and SpaceX has intensified following CNBC reports on 27 May that Elon Musk had discussed a combination of the two companies with colleagues. Against this backdrop, JPMorgan removed its long-standing "underweight" rating on 5 June, ending a bearish stance that had been maintained for years.

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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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NVIDIA: Record Revenue Sustains Interest, but Shares Remain Under Pressure

NVIDIA's revenue for the first quarter of fiscal year 2027 surged by 85% to $81.62 billion, marking another record quarter for the company. Adjusted earnings per share came in at $1.87, exceeding the Wall Street consensus forecast of $1.76. The primary driver of growth remains the data centre segment based on the Blackwell architecture, which accounts for approximately 92% of the company's total revenue.

At the same time, uncertainty surrounding the Chinese market persists. Although small batches of H200 chips intended for Chinese customers received approval from US regulators, the company has yet to recognise any revenue from these shipments. Regulatory considerations therefore remain a key source of caution in investor assessments.

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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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Dollar Gains Fresh Momentum: Market Assesses the Impact of the NFP Report

The US dollar strengthened against its major counterparts after the release of a robust US labour market report. Non-farm payrolls increased by 172K in May, well above the forecast of 85K, confirming the resilience of the US economy and reducing expectations of an imminent easing of monetary policy by the Federal Reserve. Additional support for the greenback comes from rising geopolitical tensions in the Middle East, which continue to boost demand for safe-haven assets.

Investors remain focused on developments in the conflict between Israel and Iran. Over the weekend, both sides exchanged large-scale strikes, leading to a further escalation of tensions in the region. The increase in geopolitical risks is contributing to persistent uncertainty across global financial markets and strengthening demand for the US dollar as a safe-haven currency. Against this backdrop, market attention is gradually shifting towards upcoming US economic releases, which are expected to either confirm or challenge the sustainability of the current bullish momentum in the dollar.

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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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Euro Stabilises After Sell-Off as Markets Await US CPI and Bank of Canada Meeting

The euro is showing signs of a modest recovery following a sharp decline triggered by a strong US employment report and increased demand for safe-haven assets amid escalating geopolitical tensions in the Middle East. Robust Nonfarm Payrolls data confirmed the resilience of the US labour market, allowing the dollar to strengthen against most major peers and reinforcing expectations that the Federal Reserve will maintain a restrictive policy stance.

Investor attention today will be focused on the release of US inflation data. According to forecasts, annual consumer price growth may accelerate to 4.2% from 3.8% previously, while core inflation is expected to rise to 2.9% from 2.8%. Should the figures exceed expectations, markets may once again reassess the outlook for Federal Reserve rate cuts, providing additional support for the US dollar.

Another key event will be the Bank of Canada policy meeting. The central bank is widely expected to leave its benchmark interest rate unchanged at 2.25%, although market participants will be paying close attention to the accompanying statement and policymakers' comments regarding the future path of monetary policy. Any signals pointing towards further easing could weigh on the Canadian dollar and support gains in EUR/CAD.

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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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Meta Platforms: Strong Earnings Fail to Support the Share Price

Meta's revenue rose by 33% year-on-year in the first quarter of 2026, reaching $56.3 billion. Adjusted earnings per share came in at $7.31, comfortably ahead of the consensus forecast of $6.67. However, the positive earnings results were overshadowed by other developments.

Alongside the report, the company raised its 2026 capital expenditure forecast to between $125 billion and $145 billion, which the market interpreted as a signal of potential pressure on free cash flow. Additional pressure on the share price emerged in early June following reports that Meta was considering raising tens of billions of dollars through a new share offering to finance AI infrastructure projects. The company itself dismissed these reports as "pure speculation".

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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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EUR/USD: ECB Meeting and Interest Rate Expectations

On 11 June, the ECB is holding the second day of its Governing Council meeting. The interest rate decision will be announced at 14:15 CET, followed by a press conference by Christine Lagarde at 14:45 CET. Markets are focused on the possibility of a 25-basis-point rate increase to 2.25%.

The case for further tightening is supported by accelerating inflation in the euro area, driven in part by higher energy prices resulting from geopolitical tensions in the Middle East. At its 30 April meeting, the ECB paused its policy cycle but indicated that June would be an important point for reassessing the outlook. Labour market resilience and signs of second-round inflation effects have strengthened the arguments in favour of tighter policy. The tone of the press conference could shape market expectations for interest rates through the remainder of the year.

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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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Sterling at Key Levels as Investors Assess UK Economic Outlook

The British pound is maintaining a cautious tone following a period of elevated volatility, with market participants now focused on key upcoming UK economic data releases. Both GBP/USD and GBP/JPY are consolidating near important technical levels as investors await macroeconomic indicators that could provide clearer signals on the outlook for the UK economy and the Bank of England’s next policy moves.

The main event later this week will be the release of UK GDP data for April. Forecasts suggest the economy may contract by 0.1% month-on-month, following a 0.3% expansion in the previous month. At the same time, figures for industrial production, manufacturing output, construction activity, and the trade balance will also be published. Weaker-than-expected data could reinforce expectations of further Bank of England easing and put additional pressure on sterling, while stronger readings may support the currency and trigger a fresh wave of demand.

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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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US Natural Gas: Inventory Surplus Continues to Weigh on Prices

The US natural gas market (XNG/USD) is entering the summer season under the influence of two opposing forces. Domestically, the picture remains bearish. According to the EIA, working gas in underground storage stood at 2,688 billion cubic feet as of 5 June 2026, which is 151 billion cubic feet above the five-year average. At the same time, gas deliveries to major LNG export terminals have fallen to 16.3 billion cubic feet per day, as seasonal maintenance work at the Golden Pass and Freeport LNG facilities in Texas has constrained export flows.

On the other hand, global LNG demand is strengthening. On 9 June, Morgan Stanley warned that LNG prices could rise to levels not seen in more than three years. Hot weather across Asia and Europe’s need to replenish gas reserves are intensifying competition for available LNG supplies. Should demand continue to increase, a greater share of US LNG could be redirected to overseas markets, potentially providing support for domestic natural gas prices over the longer term.

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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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US Dollar Index Analysis: Dollar at a Crucial Point, What's Next?

As the chart shows, the US Dollar Index (DXY) has gained more than 4% from its January lows, with the move accelerating from February 2026 onwards. Today, the dollar finds itself at a technically and fundamentally critical point, one that could define the near-term direction not only of the greenback itself, but of equity indices, dollar-paired currencies, commodities, and cryptocurrencies alike.

What Has Been Driving Dollar Strength?
The primary driver behind the dollar's recent appreciation has been geopolitical uncertainty in the Middle East, with the US dollar and crude oil (XBR/USD and WTI/USD) being the natural beneficiaries.

The most recent example came on 11 June, when President Trump stated his intention to bomb Iran and seize its oil resources — echoing the approach taken with Venezuela. Within hours, however, the statement was walked back, with officials indicating that negotiations were in their final stages. The dollar initially surged on hawkish rhetoric, then surrendered the entire gain as tensions appeared to ease, with traders reducing so-called safe-haven exposure. Should Middle East tensions escalate further and a near-term agreement fail to materialise, the dollar could find renewed buying interest and potentially challenge the key level it currently faces.

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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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Forex Kill Zone Times and ICT Trading Sessions

Kill Zone trading is a method that focuses on the most liquid and volatile periods of the trading day. It aims to align trades with institutional activity during specific time windows. The concept comes from the Inner Circle Trader (ICT) method, with ICT Kill Zone times covering the Asian, London, and New York sessions. These forex Kill Zone times mark specific intraday periods when liquidity, trading volume, and institutional activity tend to increase, with the London Kill Zone time among the most active windows.

This article explains forex Kill Zone times, the main trading sessions, and the role of institutional order flow in Kill Zone trading.

What Is a Forex Kill Zone?
A forex Kill Zone is a short, high-activity window when a currency pair tends to see higher volatility and trading volume. These windows usually align with the open of a major session or occur during forex session overlaps. The concept, popularised by Michael Huddleston, also known as the Inner Circle Trader, highlights the importance of timing in trading strategies.

These active windows sit inside the broader forex market sessions. The forex market operates 24 hours a working day across four major sessions: Sydney, Tokyo, London, and New York. Each session reflects the working hours of its regional financial centre.

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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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Nikkei 225 Strengthens Ahead of the Bank of Japan Decision

Investors are focused on the Bank of Japan's policy meeting on 16 June. According to a Reuters survey published on 10 June, the majority of economists expect the benchmark interest rate to be raised to 1% — a level not seen for decades. The market is also reacting to the Producer Price Index (PPI) data released on 10 June, which points to ongoing inflationary pressures.

For the Japanese market, not only the rate decision itself matters, but also its impact on the yen. Monetary policy expectations influence the outlook for export-oriented companies included in the Nikkei 225 index (Japan 225 on FXOpen), prompting investors to assess both the BoJ's decision and any signals regarding policy moves in the second half of the year.

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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.