Daily Market Analysis By FXOpen

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Coinbase (COIN) Shares Hit Year-to-Date High

As we reported six days ago, shares of Coinbase Global (COIN) received a strong bullish boost after the US Senate approved the GENIUS bill, which sets out regulations for the use of stablecoins.

As the Coinbase Global (COIN) stock chart shows, the rally is ongoing. Yesterday, the price surged by over 12%, once again becoming the top performer in the S&P 500 index (US SPX 500 mini on FXOpen).

Bullish sentiment is being fuelled by news that:
→ Two funds managed by Cathie Wood’s Ark Invest acquired around 4,200 Coinbase shares;
→ Analysts at Benchmark raised their target price for Coinbase Global (COIN) from $301 to $421.

Could the COIN share price continue to rise?

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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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Oil Price Falls Below Pre-Escalation Levels of Middle East Conflict

According to the XBR/USD chart:
→ Prior to Israel’s airstrikes on Iran on 13 June, the price of Brent crude was hovering around the $69.00 mark;
→ Following US bombings in Iran, the price spiked at the Monday market open, reaching a high of approximately $77.77 (as we reported on 23 June).

However, after President Trump announced a ceasefire between Iran and Israel — later confirmed by statements from both sides — oil prices dropped sharply. This morning, Brent is trading around $68, which is even lower than the level seen before the initial strikes.

Media outlets report that analysts broadly agree that fears have eased, even if the ceasefire appears fragile. Market participants seem to view the likelihood of the conflict escalating into a full-scale ground war — involving US troops and the closure of the Strait of Hormuz — as low. Shipping through the strait is reportedly returning to normal.

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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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Trading Strategies for Volatile Markets

Volatile markets can both be challenging and present multiple opportunities for traders. Harnessing the power of specific trading strategies, from the Bollinger Band Squeeze to the nuanced VWAP and RSI combination, can provide critical insights into potential price movements. But these aren’t trade secrets; rather powerful strategies for volatile markets that have stood the test of time. Join us as we uncover four trading and investment strategies that work during market volatility.

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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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Markets Consolidate Ahead of Key Economic Data from the US and Canada

Currency markets are showing restrained movement, with USD/CAD and AUD/USD pairs remaining in a consolidation phase amid rising geopolitical tensions and anticipation of key economic data releases from the US and Canada. Investors are opting for a wait-and-see approach ahead of inflation data and consumer activity reports that could significantly impact interest rate trajectories.

An additional source of uncertainty came from geopolitical developments: US President Donald Trump unexpectedly stated that China may continue purchasing oil from Iran despite existing US sanctions. This statement, made after the announcement of a ceasefire between Iran and Israel, caused confusion in the market and contributed to increased volatility in oil prices. The renewed focus on the Middle East is strengthening interest in commodity-linked currencies but also increasing the volatility of currency pairs sensitive to raw material prices.

Today, market participants await the release of US data on initial jobless claims, personal spending, trade inventories, and the Consumer Expenditure Price Index. From Canada, data on wholesale sales and average weekly earnings are expected. Forecasts suggest the numbers will fall within expected ranges, but any deviations could trigger moves in the USD/CAD and AUD/USD pairs.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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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Nasdaq 100: A New All-Time High

As shown on the Nasdaq 100 chart (US Tech 100 mini on FXOpen), the value of the technology stock index has risen above its February peak, setting a new historical high.

Bullish sentiment may be supported by:
→ Easing concerns over potential US involvement in a Middle East war, as the ceasefire between Israel and Iran remains in effect.
→ Media reports suggesting that Donald Trump is considering replacing Federal Reserve Chair Jerome Powell by September or October, in an effort to influence a rate cut that could accelerate economic growth (though this also raises the risk of a new inflationary wave).

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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 (NVDA) Share Price Soars to Record High

Yesterday, Nvidia’s (NVDA) share price surged by over 4%, with the following key developments:
→ It broke through the psychological $150 per share level;
→ It reached a new all-time high;
→ It also contributed to the Nasdaq 100 index hitting a record peak, as we reported earlier this morning.

As a result, Nvidia has reclaimed its status as the world’s most valuable company. Demand for its shares is being fuelled by the CEO’s optimism.

“We have many growth opportunities across our company, with AI and robotics the two largest, representing a multitrillion-dollar growth opportunity,” said Jensen Huang at Nvidia’s annual investor conference.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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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How to Overcome Trading Psychology Challenges

Dealing with common trading psychology challenges involves identifying and addressing the emotional and psychological factors that impact performance. This means you need to know how to manage fear, greed, hope, and regret carefully. In this post, we’ll talk about forex trading psychology and proper emotional control.

In our previous FXOpen article, we discussed stock trading psychology, so if you are interested in this topic, read more here.

What Is the Psychology of Trading?

Trading psychology focuses on the mental state of a trader and the emotions that could predetermine trading decisions. It represents the various aspects of an individual’s character and behaviours that influence their trading actions. The psychology of trading is just as crucial as knowledge about assets (currencies, stocks, and commodities), your previous experience, and your skill in determining price movements.

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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 Pair Hits Yearly High

Yesterday, the EUR/USD exchange rate rose above the 1.1700 level for the first time this year. The last time one euro was worth more than 1.70 US dollars was in autumn 2019.

The main driver behind the euro’s rise is the weakening dollar, largely due to decisions made by the Trump administration. This week alone, the EUR/USD pair has gained more than 2%, partly as a result of escalating tensions between the US President and the Chair of the Federal Reserve.

According to Reuters, Trump called Powell “terrible” and said he had three or four candidates in mind for the top job at the Fed. It was also reported that Trump had considered selecting and announcing a replacement for Powell by September or October (his current term officially runs until May 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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Nikkei 225 Index Rises Above 40,000 Points

As the chart shows, the Nikkei 225 stock index (Japan 225 on FXOpen) has risen above the psychological level of 40,000 points — for the first time in five months.

Bullish drivers include:

→ Reduced geopolitical risks. A ceasefire between Iran and Israel has boosted market sentiment, with stock indices rising both on Wall Street (yesterday the Nasdaq 100 hit a new all-time high) and in Japan.
→ Easing fears of a prolonged trade war. White House Press Secretary Karoline Leavitt noted that the timeline for implementing tariffs is flexible and could be extended.
→ Economic news. Recent data shows that inflation in Japan has slowed for the first time in four months: the core consumer price index fell to 3.1% from 3.6% in May.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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 Analysis: Gold Drop, Oil Slides — Traders Eye Macro Triggers

Gold price started a fresh decline below $3,320. WTI Crude oil is down over 15% and remains at risk of more losses.

Important Takeaways for Gold and WTI Crude Oil Price Analysis Today

• Gold price climbed higher toward the $3,400 zone before there was a sharp decline against the US Dollar.
• A key bearish trend line is forming with resistance near $3,300 on the hourly chart of gold at FXOpen.
• WTI Crude oil extended losses below the $68.00 support zone.
• A major bearish trend line is forming with resistance near $65.60 on the hourly chart of XTI/USD at FXOpen.

Technical Analysis of Gold Price

On the hourly chart of Gold at FXOpen, the price climbed above the $3,320 resistance. The price even spiked above $3,350 before the bears appeared.

A high was formed near $3,395 before there was a fresh decline. There was a move below the $3,350 support level. The bears even pushed the price below the $3,300 support and the 50-hour simple moving average.

It tested the $3,245 zone. A low is formed near $3,247 and the price is now showing bearish signs. There was a minor recovery wave toward the 23.6% Fib retracement level of the downward move from the $3,393 swing high to the $3,247 low.

However, the bears are active below $3,300. Immediate resistance is near $3,280. The next major resistance is near the $3,300 zone. There is also a key bearish trend line forming with resistance near $3,300.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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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XAU/USD Chart Analysis: Price Retreats to Monthly Low

In mid-June 2025, demand for gold surged following reports of exchanged strikes between Israel and Iran, along with US bombings of Iran's nuclear facilities. As a so-called safe-haven asset, gold prices climbed towards $3,430.

However, by the final day of June, the XAU/USD chart shows that gold had retreated to around $3,250, marking the lowest level in a month.

Why Is the Gold Price Falling?

On one hand, this reflects easing tensions in the Middle East, as a ceasefire—albeit fragile—between Israel and Iran remains in place.

On the other hand, the risk of trade wars is also diminishing. According to media reports:
→ President Donald Trump announced last week that the United States had signed a trade agreement with China and hinted that a “very major” deal with India would follow soon.
→ The US is also close to concluding agreements with Mexico and Vietnam, while negotiations with Japan and many other countries are ongoing.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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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S&P 500 Sets New All-Time High, Surges Above 6200

The S&P 500 index (US SPX 500 mini on FXOpen) started the week by reaching a fresh all-time high. As shown on the chart, the index hit 6,210 points earlier this morning.

In addition to a reduced risk of US involvement in a large-scale war in the Middle East, market optimism has been fuelled by:
→ Tariff-related news. Last week, the US President announced the signing of a trade deal with China, while Treasury Secretary Scott Bessent expressed hope that the US would conclude trade negotiations with over a dozen countries by early September.
→ Strong corporate performance. On Friday, Nike (NKE) shares led the stock market, rising by more than 15% following an earnings report that exceeded analysts’ expectations. This could be boosting investor sentiment ahead of the upcoming earnings season.

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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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The Pennant Pattern: Meaning, Rules, and Applications

Pennants are compact continuation patterns that often form during strong trends. They look similar to some technical analysis setups but provide different signals. This article explores what pennants are, how to identify them, how they differ from similar patterns, and what to look for when trading them.

What Are Pennant Chart Patterns?

A pennant is a continuation chart pattern that forms during a brief pause in the trend. It is typically seen as a smaller version of a symmetrical triangle and has features of flags with a flagpole being commonly used to determine take-profit targets.

This formation can be either bullish or bearish, depending on the direction of the overall trend. A bullish pennant pattern occurs in an uptrend and signals a continuation of the price rise, while a bearish pennant pattern appears in a downtrend and signals a continuation of the price fall.

The pennant definition includes three parts: the flagpole (the sharp trending move that comes first), the consolidation zone (where the price moves sideways and forms converging trendlines), and the breakout (where the price moves out of the pattern, usually with strong volume).

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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 Insights with Gary Thomson: 30 June - 4 July

Market Insights with Gary Thomson: Eurozone Inflation, US Jobs, ISM PMIs, ECB Forum Updates

In this video, we’ll explore the key economic events, market trends, and corporate news shaping the financial landscape. Get ready for expert insights into forex, commodities, and stocks to help you navigate the week ahead. Let’s dive in!

In this episode, we discuss:
— Euro Area Inflation Rate YoY Flash
— US Nonfarm Payrolls and Unemployment Rate
— US ISM Manufacturing and Services PMI
— ECB Forum on Central Banking

Don’t miss out—gain insights to stay ahead in your trading journey.




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.

Disclaimer: This video 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.