Daily Market Analysis By FXOpen

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Dollar Trades Mixed: ADP Disappoints, Shutdown Adds Risks

The US dollar showed a mixed performance: a weak ADP employment report (-32k versus the forecast of growth) heightened doubts over the resilience of the labour market, while uncertainty surrounding a US government shutdown added further pressure on the greenback. Markets are pricing in risks of delayed publication of key economic data, including the nonfarm payrolls report, which could complicate the Federal Reserve’s policy decisions in the coming months.

In the USD/JPY pair, the dollar continues to lose ground, falling towards the 147.00 level, where short-term support is located. The pressure is reinforced by a combination of weak US data and stronger demand for the yen as a so-called safe-haven asset. Meanwhile, USD/CAD is consolidating after climbing to 1.3950: the Canadian dollar found support amid the release of business activity data and fluctuations in oil prices, which remain a key driver for the pair.

Near-term moves in the major currency pairs will largely depend on the balance of the news flow and investor reaction to political uncertainty in the United States.

USD/JPY

At the end of September, dollar buyers in the USD/JPY pair almost managed to test the critical resistance level near 150.00. However, the slowdown in bullish momentum allowed dollar bears to seize the initiative, forming a bearish harami candlestick pattern on the daily timeframe. Technical analysis of USD/JPY suggests a potential continuation of the downward movement towards the key range of 146.00–146.50. Bulls, however, may attempt to push the pair back into the 147.90–148.20 zone.

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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Hang Seng Index Hits 4-Year High

As the chart shows, Hong Kong’s Hang Seng Index (Hong Kong 50 on FXOpen) climbed above the 27,300 mark today – for the first time since summer 2021. The bullish momentum has been supported in part by corporate news. According to media reports:
→ Shares of Chinese EV maker NIO Inc. rose by around 5% following news that vehicle deliveries had increased by 64.1% year-on-year.
→ Shares of Ascletis Pharma Inc. jumped 12.8% after the company announced a share buyback programme.
→ Alibaba shares surged 4% after JPMorgan raised its price target by more than 40%, citing AI industry development and strong user engagement.

Since 1 September, the Hang Seng Index (Hong Kong 50 on FXOpen) has gained over 7%.

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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Natural Gas Price Hits 2.5-Month High

As the XNG/USD chart shows today, natural gas prices have risen above $3.600/MMBtu for the first time since mid-July.

According to media reports, the rise in gas prices has been driven by:
→ Weather models forecasting colder conditions, suggesting the heating season may begin earlier than expected;
→ An EBW Analytics Group note highlighting short-covering activity in the market, which has accelerated the rally (a short squeeze effect).

At the same time, chart analysis suggests that the upside potential may be limited.

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 May Traders Keep a Trading Journal?

Although some traders assume that keeping a trading journal is useful only for beginners, in reality, it is a proven method for refining strategies at any level. A trading journal is a structured tool for logging trades, tracking strategies, and evaluating outcomes. By recording entry and exit points, trade rationales, and results, traders gain valuable insights into their decision-making process.

In this article, we will explore how journals may help traders monitor progress and identify recurring patterns. We will also review the most common types of journals, including traditional notebooks, trading journal software, and online trading journals, highlighting their advantages for maintaining accurate trade records.

Types of Trading Journals
Here are three trading journal examples. You can choose a format that meets your requirements, whether it’s handwritten notes in a notebook, a trading journal online spreadsheet, or a specialised app. An important part is to be consistent in recording your activity...

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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The S&P 500 index remains positive against all odds

We noted on 29 September that, amid the US shutdown, sentiment in the S&P 500 index market remained positive, and highlighted factors supporting further growth.

Today, the S&P 500 index (US SPX 500 mini on FXOpen) reached a fresh all‑time high: on Friday morning the price rose above 6 740 points. This confirms the continued optimism among market participants. Today this is supported by news related to the creators of ChatGPT.

According to media reports, OpenAI:
→ has reached a valuation of $500 billion following a deal in which current and former employees sold shares worth around $6.6 billion;
→ is expanding cooperation with semiconductor manufacturers in South Korea, which is expected to sustain the company’s high growth rate.

Thus, OpenAI’s successes are boosting investor optimism ahead of the upcoming earnings season.

These and other positive developments might have been overshadowed by the regular Non‑Farm Employment Change report (and other US labour market data), but the Bureau of Labour Statistics is closed due to the shutdown.

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: AUD/USD and NZD/USD Hold Firm, More Upside Moves On The Way?

AUD/USD started a fresh increase above 0.6550 and 0.6575. NZD/USD is also rising and might aim for more gains above 0.5840.

Important Takeaways for AUD USD and NZD USD Analysis Today
· The Aussie Dollar started a decent increase above 0.6575 against the US Dollar.

· There is a key declining channel forming with resistance at 0.6615 on the hourly chart of AUD/USD at FXOpen.

· NZD/USD is consolidating gains above the 0.5800 pivot level.

· There is a major bullish trend line forming with support at 0.5815 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 0.6520. The Aussie Dollar was able to clear 0.6550 to move into a positive zone against the US Dollar.

There was a close above the 0.6575 resistance and the 50-hour simple moving average. Finally, the pair tested 0.6630. A high was formed near 0.6628 and the pair recently started a consolidation phase. There was a minor decline below 0.6600.

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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News from France Weighs on European Financial Markets

According to Reuters, France’s new Prime Minister, Sébastien Lecornu, unexpectedly resigned on Monday just hours after appointing his new cabinet.

This news has underscored the deepening political crisis in France and placed significant pressure on European financial markets – this morning:

→ The euro is weakening. The EUR/USD rate has fallen below 1.1660 and is near September’s low.

→ European shares are falling. The French stock index CAC 40 (France 40 on FXOpen) has dropped by around 2%.

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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Gold Price Reaches Record High

As shown in the charts, XAU/USD quotations have reached historic peaks today. According to media reports, gold is behaving as a safe haven amid growing uncertainty, which is intensifying as the U.S. government shutdown continues. Meanwhile:

→ Gold prices may rise above $3,950 in the coming days, approaching the psychological level of $4,000. The chart underlines the firm dominance of demand forces.

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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Algorithmic Trading: Strategies and Trends Ahead

Algorithmic trading uses computer programs to execute strategies aiming to improve speed and precision of the process. Its role can’t be overestimated as traders always seek to reduce manual errors. In this article, we explore how automated trading systems work, their challenges, strategies, and future trends.

What Is Algorithmic Trading?
Algorithmic trading, often referred to as algo-trading or black-box trading, is the automated execution of trading strategies using computer programs. Algorithms use predetermined rules, mathematical models, and data analysis to make trading decisions, eliminating the human factor and emotions. This might help traders to place and execute trades faster and, at times, more accurately. Theoretically, algo-trading can generate trades at a speed and frequency that is impossible for a human trader, and this can potentially lead to reduced trading fees.

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.