Daily Market Analysis By FXOpen

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Nvidia Market Capitalisation Reaches $4 Trillion

Yesterday, Nvidia’s (NVDA) share price surpassed $162 for the first time in history. As a result, the company’s market capitalisation briefly exceeded $4 trillion during intraday trading (according to CNBC), making Nvidia the first publicly listed company to reach this milestone.

The rise in NVDA’s share price is being driven by both bullish sentiment across the broader equity market—which appears optimistic ahead of the upcoming Q2 earnings season—and evidence of sustained demand for Nvidia’s products, as artificial intelligence technologies continue to gain widespread adoption.

Noteworthy developments include:
→ Nvidia may begin producing a specialised AI chip for the Chinese market this autumn, potentially circumventing current export restrictions;
→ Perplexity, a company backed by Nvidia, is launching an AI-powered browser aimed at competing with Google Chrome.

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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 in Focus – Markets on Alert

The euro is holding firm after a notable rally in recent weeks. Both the EUR/USD and EUR/JPY currency pairs are showing signs of consolidation, as markets cautiously assess the outlook against the backdrop of a packed economic calendar. Traders remain in wait-and-see mode — a stance that could serve as a platform for either a renewed upward impulse or a potential correction, should upcoming data disappoint expectations.

Investors are closely monitoring a series of key macroeconomic indicators set for release in the coming hours, including Germany’s consumer price index, Italy’s industrial production figures, and the PCSI consumer sentiment index across major eurozone economies. These reports will help gauge whether the euro's current strength is justified, and how consumers and businesses are responding to a strong currency.

Meanwhile, European Central Bank (ECB) policy remains in the spotlight. In June, the ECB cut interest rates amid a strengthening euro and easing inflationary pressures. The market will now scrutinise the rhetoric of ECB officials to assess their concerns about further euro appreciation and its implications for exports and inflation targets. Remarks from Luis de Guindos, who recently warned against “excessive appreciation”, underscore how sensitive monetary policy has become to current exchange rate levels.

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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 Influence of Central Banks on Forex Trading

The global foreign exchange (Forex) market constitutes a vast and intricate financial ecosystem in which currencies from across the globe are traded. This marketplace witnesses the exchange of trillions of dollars on a daily basis, rendering it among the most liquid and dynamic markets on earth. Amidst this bustling activity, central banks play a pivotal role, especially through their institutional obligation to determine and conduct the country’s monetary policy. In this article, we will delve into the crucial influence that these major players exert on currency pairs and explore the role of central banks in the forex market.

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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.

 

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Coinbase (COIN) Shares Reach All-Time High

According to the chart of Coinbase Global (COIN), the share price of the cryptocurrency exchange has reached a historical all-time high (closing price).

The bullish sentiment has been supported by the following factors:
→ Bitcoin price rally. Yesterday, we analysed the BTC/USD chart and anticipated that bulls might attempt to set a new record. Following the publication, Bitcoin made a strong upward move, breaking above the $118,000 level.

→ Passage of the GENIUS bill in the US, which establishes a regulatory framework for the use of stablecoins.

Can COIN stock continue to climb?

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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 Strengthens Following Trump’s Tariff Decision

US President Donald Trump has announced his decision to impose new tariffs:
→ For Canada, tariffs are set at 35%. They are scheduled to take effect on 1 August, although negotiations may take place before this date, potentially influencing Trump’s final stance.
→ For many other countries, tariffs may be set at 15% or 20%;
→ For the European Union, the exact tariff levels have not yet been disclosed.

Overall, Trump’s latest comments have added to the uncertainty surrounding the specific tariffs to be applied to each country. The financial markets reacted as follows:
→ The US dollar strengthened against other currencies (including the Canadian dollar);
→ Equity markets saw a modest decline.

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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 Analysis: Gold and WTI Crude Oil Climb Higher Amid Market Optimism

Gold price started a fresh increase above the $3,350 resistance level. WTI Crude Oil price climbed higher above $66.50 and might extend gains.

Important Takeaways for Gold and WTI Crude Oil Price Analysis Today

• The gold price started a fresh surge and traded above $3,330.
• A key bullish trend line is forming with support at $3,350 on the hourly chart of gold at FXOpen.
• WTI Crude Oil price started a decent increase above the $66.60 resistance levels.
• There was a break above a connecting bearish trend line with resistance at $67.15 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price formed a base near the $3,280 zone. The price started a steady increase above the $3,330 and $3,350 resistance levels.

There was a decent move above the 50-hour simple moving average and $3,360. The bulls pushed the price above the $3,365 resistance zone. A high was formed near $3,373 and the price is now consolidating.

On the downside, immediate support is near the $3,350 level and the 23.6% Fib retracement level of the upward move from the $3,282 swing low to the $3,373 high.

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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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DAX Stock Index Declines Amid Trump Tariff Threat

The German stock index DAX 40 (Germany 40 mini at FXOpen) is showing bearish momentum at the start of the week. This may be driven by a combination of factors, the most significant of which is the threat of tariffs on Europe from the United States.

According to Reuters, US President Donald Trump has announced a 30% tariff on most goods from the EU, set to come into effect next month. However, the decision is not yet final. Analysts caution against premature panic, suggesting that negotiations could still result in a trade agreement — nonetheless, the chart reflects a sense of unease among investors.

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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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What Is the Evening Star Candlestick Pattern, and How Can You Use It in Trading?

Candlestick patterns offer traders a way to read price action and spot potential changes in momentum. One notable pattern is the evening star, a three-candle formation that signals the start of a possible downtrend. This article breaks down what the evening star looks like, how it works, and how traders typically use it.

What Is the Evening Star Candlestick Pattern?

The evening star is a three-candle pattern that traders watch for after a strong upward move. It’s considered a bearish reversal pattern, signalling that bullish momentum is fading. The setup consists of three candles:

• The first candle is a large bullish candle—it shows a clear upward direction.
• The second is much smaller. This middle candle—the star—reflects hesitation. Buyers and sellers are more balanced, and the market’s pace slows.
• The third candle acts as confirmation. It’s a solid bearish candle that closes deep into the body of the first.

The middle candle also often gaps up from the first, especially in stocks or indices, but gaps aren’t essential. What matters is the sequence: strength, indecision, reversal. The further the final candle closes into the body of the first, the stronger the pattern is considered.

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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: 14 - 18 July

Market Insights with Gary Thomson: Inflation Rate in Canada, US, and UK, US PPI, Earnings Reports

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 of Market Insights, Gary Thomson unpacks the strategic implications of the week’s most critical events driving global markets.

Key topics covered in this episode:
— Inflation Rate in Canada
— US Inflation Rate
— UK Inflation Rate
— US Producer Price Index
— Corporate Earnings Statements

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.

 

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How Do Traders Use the Pivot Points Indicator?

Pivot points are a popular technical analysis tool for spotting areas where the price is expected to react, i.e. pause or reverse. Calculated using the previous day’s high, low, and close, they’re projected onto the current session to highlight potential support and resistance levels, especially useful for intraday traders.

Alongside stock charts, pivot point levels can be used in a wide variety of markets, including forex, commodities, and cryptocurrencies*. As a versatile indicator, pivot points also come in many different types. This article breaks down the definition of pivot points, the variations traders use, and how they can fit into a broader trading strategy.

A Deeper Look at Pivot Points
A common question in technical analysis is, “What is a pivot point?” Pivot points trading, or pivot point theory, is a popular technical analysis concept used in a range of financial asset classes, including stocks, currencies, cryptocurrencies*, and commodities. The indicator assists traders in gauging overall market trends and determining possible support and resistance barriers.

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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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GBP/USD Rate Falls to Key Support Level


As of today, the GBP/USD chart indicates that the British pound has declined by more than 2% against the US dollar since the beginning of July. Notably, the pace of the decline accelerated on Friday and continued into Monday.

According to Reuters, the pound is under pressure due to market concerns over a potential economic slowdown amid an escalating trade war. Last week’s data confirmed a contraction in UK GDP, which could have far-reaching implications. In this context, criticism of the UK government’s failure to reduce public spending is becoming more pronounced.

What’s next for GBP/USD?



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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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Equity Markets Ahead of the US Inflation Report

Today at 15:30 GMT+3, the US inflation report (Consumer Price Index, or CPI) is scheduled for release. According to ForexFactory, analysts expect the inflation rate to rise from 2.4% to 2.6%.

The actual figures will provide market participants with grounds to debate not only the likelihood of a Federal Reserve rate cut, but also the evolving tensions between Donald Trump and Jerome Powell.

Should the report deliver any surprises, it will almost certainly trigger heightened volatility across the equity markets. For now, however, investors are seemingly optimistic about the upcoming fundamental data — especially given the commencement of Q2 earnings season, which lends additional weight to today’s macroeconomic indicators.

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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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A Closer Look at the Role and Recent Volatility of the US Dollar Index (DXY)

The US Dollar Index (DXY) is now available to trade via CFDs at FXOpen. We don’t even need to say that it’s one of the most influential benchmarks in global currency markets. The index, which measures the value of the US dollar against a basket of six major currencies, experiences heightened volatility and presents potential opportunity.

Understanding the DXY: A Macro Lens on the Dollar
The DXY tracks the relative strength of the US dollar versus a weighted currency basket including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. Although the euro comprises nearly 58% of the index, the DXY reflects broad USD strength or weakness across global markets, not just against a single currency.

Traders and analysts use the DXY as a key macro indicator—to track policy divergence between central banks, to hedge USD exposure, and to assess broader market sentiment. Rising DXY levels often signal tightening US policy or global risk aversion, while declines may reflect weakening growth expectations, dovish Fed policy, or geopolitical stress. In volatile environments like 2025, the DXY serves as a real-time barometer of global confidence in the US economy and dollar-based assets.

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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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European Currencies Test Key Support Levels

European currencies have temporarily stabilised following a phase of downward correction, as markets await the release of key economic data. In the absence of new strong catalysts, the market has adopted a wait-and-see approach near critical support levels — 1.3400 for GBP/USD and 1.1600 for EUR/USD. Investors' attention is firmly focused on inflation figures, which may either support a resumption of recent bullish trends or serve as a trigger for a deeper correction.

Today, market participants are closely monitoring UK inflation data. In the coming trading sessions, investors are also expecting a batch of macroeconomic releases from the eurozone, including Italy’s CPI and trade balance figures — these could help define the short-term trajectory of the EUR/USD pair.

Amid uncertainty, investors continue to price in a potential correction in the US dollar. At the same time, the persistent divergence between the Federal Reserve and European regulators remains a key factor shaping the trend in major currency pairs.

GBP/USD

The GBP/USD pair tested the important support level near 1.3400 yesterday. Technical analysis of GBP/USD suggests a continuation of the downward correction within the formation of a Tower pattern. Should there be a sharp rebound from the 1.3300–1.3340 zone, the price may return to the 1.3470–1.3500 range.

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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 Analysis: US Dollar Strengthens Following Inflation Report

Yesterday, the US Consumer Price Index (CPI) report was released, showing an increase in consumer prices. According to Forex Factory, annual CPI rose from 2.4% to 2.7%, exceeding analysts' expectations of a 2.6% rise.

As reported by Reuters, the data supports the stance of Federal Reserve Chair Jerome Powell, who has repeatedly stated that the anticipated inflationary pressure—driven in part by tariffs—is a reason to refrain from further interest rate cuts.

However, President Donald Trump interpreted the data differently. On his Truth Social platform, he posted that consumer prices remain low and called for an immediate rate cut.

The market responded with a stronger US dollar—indicating that participants believe interest rates are likely to remain at current levels in the near term. Notably, the EUR/USD exchange rate fell to the 1.1600 level for the first time since late June (as indicated by the arrow).

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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 (NVDA) Share Price Surges Above $170

Yesterday, Nvidia’s (NVDA) share price rose by more than 4%, with the following developments:
→ It surpassed the psychological level of $170 per share;
→ Reached another all-time high;
→ Gained more than 9% since the beginning of the month.

The bullish sentiment is driven by Nvidia CEO Jensen Huang’s visit to China shortly after meeting with US President Trump. At the same time:

→ US Secretary of Commerce Howard Lutnick stated that the planned resumption of sales of Nvidia H20 AI chips in China is part of the US negotiations on rare earth metals.
→ The head of Nvidia stated that he was assured licences would be granted very quickly, and that a large number of orders for H20 chip deliveries had already been received from Chinese companies.

Market participants are viewing the situation with strong optimism, and analysts are raising their valuations for NVDA shares:
→ Morningstar analysts raised their fair value estimate for Nvidia shares from $140 to $170.
→ Oppenheimer analysts increased their target price from $170 to $200.

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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 Analysis: EUR/USD Pares Gains while USD/JPY Rises

EUR/USD declined from the 1.1750 resistance and traded below 1.1650. USD/JPY is rising and might gain pace above the 149.20 resistance.

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

• The Euro started a fresh decline after a strong surge above the 1.1720 zone.
• There is a connecting bearish trend line forming with resistance at 1.1660 on the hourly chart of EUR/USD at FXOpen.
• USD/JPY climbed higher above the 147.50 and 148.40 levels.
• There is a key bullish trend line forming with support at 148.40 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair rallied above the 1.1720 resistance zone before the bears appeared, as discussed in the previous analysis. The Euro started a fresh decline and traded below the 1.1660 support zone against the US Dollar.

The pair declined below 1.1620 and tested 1.1590. A low was formed near 1.1592 and the pair started a consolidation phase. There was a minor recovery wave above the 1.1610 level.

EUR/USD is now trading below the 50-hour simple moving average. On the upside, it is now facing resistance near the 1.1630 level. It is close to the 23.6% Fib retracement level of the downward move from the 1.1749 swing high to the 1.1592 low.

The next key resistance is at 1.1660 and the 50% Fib retracement level. There is also a connecting bearish trend line forming with resistance at 1.1660.

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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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How to Use Correlations in Trading

n the dynamic world of trading, utilising correlations can be a valuable tool for traders. This article explores the concept of correlations and their significance in forex trading. Additionally, we discuss some practical applications for trading with correlations, emphasising the importance of staying informed and managing risk in the ever-evolving financial landscape.

Measuring Currency Correlation in Forex Trading

In the context of forex trading, correlation refers to the extent to which two currency pairs move in relation to each other. Positively correlated currency pairs would rise or fall together, while negatively correlated ones would move in different directions. Traders have various methods at their disposal to gauge the correlation level, each with its own set of advantages and drawbacks.

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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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How Can You Spot Intermarket Correlations?

In the world of trading, understanding intermarket correlations can be an essential skill for making informed decisions. These correlations are broadly categorised depending on the asset type definition, offering unique trading opportunities. In this article, we will help you grasp the significance of that concept for more effective decision-making and risk management.

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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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Pause in Dollar Rally: Weak Data and Powell Dismissal Rumours

Amid rising market volatility, the US dollar is losing ground: USD/JPY is correcting after a recent bullish impulse, while USD/CAD is retreating from the upper boundary of its medium-term sideways range. This corrective movement was triggered by disappointing US producer price index (PPI) data and speculation surrounding a potential dismissal of Federal Reserve Chair Jerome Powell—rumours later denied by Donald Trump.

Yesterday's US macroeconomic data underperformed expectations: the core PPI was flat month-on-month (forecast: +0.2%), while the annual reading slowed to 2.6% versus the expected 2.7%. The headline PPI also showed weakness, fuelling speculation that the Federal Reserve might accelerate its easing cycle if producer price pressures continue to weaken.

Market participants also reacted to a brief spike in volatility following unconfirmed reports that Powell could be removed from office. Although the rumour was quickly debunked, the episode has contributed to lingering unease in the dollar-denominated asset segment.

In the near term, traders’ attention is shifting towards today’s US labour market data, which could shape the dollar's direction for the remainder of the week.

USD/JPY

After updating its May highs, USD/JPY sharply pulled back and is currently trading near the 148.00 level. Technical analysis suggests the potential for a deeper correction, as a bearish engulfing pattern has formed on the daily timeframe. However, if recent highs are breached again, the pair may resume its rally towards the 150.00–151.00 range.

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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.