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.

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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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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.

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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 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...

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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 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.

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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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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.

 

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Market Insights with Gary Thomson: FOMC Minutes & Powell’s Speech, Canada Jobs, RBNZ Rate Decision

In this video, we’ll explore the key economic events and market trends, shaping the financial landscape. Get ready for expert insights into financial markets 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:
— FOMC Minutes and Fed Powell’s Comments
— Canada’s Unemployment Rate
— RBNZ Interest Rate Decision

Gain insights to strengthen your trading knowledge.




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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Mastering Trading with the Symmetrical Triangle Chart Pattern

Price charts form shapes that hint at the market’s next move, and one of them is the symmetrical triangle. Unlike patterns that clearly point to bullish or bearish outcomes, this formation builds tension as buyers and sellers converge, leaving traders waiting for the breakout. In this article, we will discover how the symmetrical triangle forms, what signals it may provide, and how it can be implemented into a trading strategy.

What Is a Symmetrical Triangle Pattern in Trading?
A symmetrical triangle is a chart pattern that relates to the triangle group, which also includes ascending and descending triangles. It’s a bilateral formation, so it may signal a fall or rise in the price.

Moreover, as with ascending and descending triangles, it can occur in an uptrend and downtrend and reflect a potential trend reversal or continuation. Still, according to the work Technical Analysis of Stock Trends by Robert D. Edwards and John Magee, in 75% of cases, the triangle is a continuation signal. Therefore, it can be assumed that a bullish symmetrical triangle pattern occurs in an uptrend, while a bearish symmetrical triangle pattern appears in a downtrend.

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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USD/JPY Analysis: Yen Weakens to Two-Month Low

As the USD/JPY chart shows, the Japanese yen has weakened sharply at the start of this week. Trading opened with a bullish gap, and today the exchange rate has risen to ¥150.65 per US dollar.

The yen’s decline followed the recent election, during which Japan’s ruling Liberal Democratic Party elected Sanae Takaichi as its new leader, paving the way for her to become the next prime minister. According to Reuters, Takaichi supports the late former Prime Minister Shinzo Abe’s “Abenomics” strategy, which focuses on stimulating the economy through aggressive spending and ultra-loose monetary policy.

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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AMD Shares Surge After Partnership Announcement with OpenAI

According to media reports:
→ The deal involves AMD supplying processors of various generations to support the deployment of artificial intelligence infrastructure with a total capacity of 6 gigawatts.
→ The partnership is expected to generate billions in revenue for AMD starting in 2026.
→ Barclays analysts have raised their price target for AMD shares from $200 to $300.

The major announcement fuelled a sharp rally of around 30% in AMD’s share price, though this surge triggered aggressive selling pressure near the historic peak around the $227 level.

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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What Is the Double Bottom (W) Pattern, and How May Traders Use It?

The double bottom, often called the W pattern, is a chart formation that signals a potential trend reversal. It is the opposite of the double top pattern: while the double top forms in an uptrend, the double bottom develops in a downtrend. Traders sometimes confuse the two, but each has distinct characteristics. Read this article to explore the features of the double bottom and how it might be applied in trading strategies.

What Is a Double Bottom Chart Pattern?
A double bottom, also referred to as a W bottom pattern, is a technical analysis formation indicating a potential reversal from a downtrend to an uptrend. It is widely used by traders to define future price movements.

The pattern consists of two distinct troughs or lows at approximately the same price level, separated by a peak or moderate rally. The confirmation of the W formation occurs when the price breaks above the peak level, known as the neckline. This breakout signals a bullish reversal, indicating that the asset's price is likely to rise.

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 Rockets Beyond $4,000, WTI Crude Oil Struggles

Gold price started a fresh surge above $4,000 and traded to a new all-time high. Crude oil is recovering and might rise toward the $63.20 resistance zone.

Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today

• Gold price rallied to a new all-time high and traded above $4,000 against the US Dollar.
• A key bullish trend line is forming with support at $4,000 on the hourly chart of gold at FXOpen.
• WTI Crude oil is recovering losses and trading above $61.20.
• There is a short-term rising channel in place with support at $61.20 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price formed support near $3,820. The price remained in a bullish zone and started a fresh increase above $3,900, as mentioned in the previous analysis.

The bulls pushed the price above $4,000 level and the 50-hour simple moving average. Finally, it traded to a new all-time high at $4,026. The price is still showing bullish signs above $4,020 and the RSI is above 70.

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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NZD/USD Rate Drops Sharply After Central Bank Decision

This morning, the Reserve Bank of New Zealand (RBNZ) cut its key interest rate. According to Forex Factory, the Official Cash Rate was reduced by 50 basis points from 3.0% to 2.5%, while most analysts had expected a smaller cut to 2.75%.

Moreover, the RBNZ signalled the prospect of further easing following a recent deterioration in economic data. The decisive move caught traders off guard and led to heightened volatility. As shown on the NZD/USD chart, the New Zealand dollar has fallen to its lowest level against the US dollar since mid-April.

The downward momentum has been reinforced by the strengthening of the US dollar — possibly as investors grow more cautious over a potential government shutdown, prompting them to move into cash.

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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Yen Weakens as Dollar Holds Steady Ahead of Fed Signals

In the currency markets, the yen continues to lose ground rapidly. The sharp decline began on Monday when the USD/JPY pair opened with a price gap and consolidated above 149. It has since extended its rise, approaching 150.10 — its highest level since August. The move followed Sanae Takaichi’s election as the new leader of Japan’s ruling Liberal Democratic Party, effectively paving her way to the post of prime minister.

Takaichi, known for supporting expansionary fiscal policy, is likely to slow the Bank of Japan’s plans to raise interest rates. This has prompted a reassessment of market expectations: the probability of a rate hike by December has fallen from 68% to 41%.

The USD/CAD pair remains close to key levels, reflecting the consolidation of the US dollar, which has traded without clear direction in recent days. Market sentiment is also being influenced by the looming threat of a US government shutdown, which could delay the release of key macroeconom

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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XAG/USD Analysis: Silver Price Growth Slows

This morning, we reported that the price of gold has risen above $4,000 for the first time in history. The surge in this safe-haven asset has been driven by political uncertainty in the United States and other countries, as well as sustained demand from central banks.

Against this backdrop, the XAG/USD chart also draws attention, showing that silver prices are following a bullish trend — though not as confidently as gold. Technical analysis provides further important insights.

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 Quasimodo Pattern: Definition and Trading Approach

The Quasimodo (QM) pattern is a lesser-known formation that closely resembles the classic Head and Shoulders. While many traders overlook it—or even mistake it for its more popular counterpart—the Quasimodo offers valuable insights for spotting potential reversals. In this article, we explore the definition of the Quasimodo, its mechanics, and trading rules.

What Is Quasimodo (QM) in Forex?
The Quasimodo is a reversal chart pattern forming at the end of a solid trend. It can be spotted on any timeframe of any asset. It means you can find a Quasimodo on forex, stock, and commodity charts. This pattern can be bearish and bullish.

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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Is It Possible to Find a Best Time to Trade Forex in the UK?

Understanding forex trading hours is important. Operating continuously from Sunday evening to Friday night, the forex market spans different time zones and isn’t tied to a single exchange.

For those based in the UK, recognising the most active forex market trading times might impact results. In this article, we explain the main sessions and explore the forex market hours that may be more attractive for UK traders.

Understanding Forex Market Hours
Understanding currency exchange market hours may be important if you are involved in the global foreign exchange market. Although you may already know this, let us remind you.

The forex market operates on a 24/5 basis, opening during weekdays and closing at weekends. This round-the-clock trading is possible because it’s not tied to a physical location; instead, it relies on a decentralised network of banks, businesses, and individuals exchanging currencies across different time zones.

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.