Daily Market Analysis By FXOpen

[FXOpen Trader]

Euro Tests Multi-Year Highs Ahead of Key Macroeconomic Data


Amid waning interest in the US dollar and growing expectations of dovish rhetoric from the Federal Reserve, the euro continues to strengthen, rapidly approaching multi-year highs. Both the EUR/USD and EUR/CAD pairs are showing steady growth ahead of the release of eurozone inflation data, which could confirm the stability of price dynamics and boost investor confidence in the region’s currency.

The consensus forecast suggests that the Core Consumer Price Index (Core CPI) for June will hold steady at 2.3%, with the headline figure not exceeding 2.0%. Should the data match expectations, this may reinforce investor confidence in price stability across the eurozone and support the euro’s ongoing rally. Market focus is also directed towards a series of speeches from ECB officials and Federal Reserve Chair Jerome Powell, which could further influence pricing in the mentioned currency pairs.

EUR/USD
The EUR/USD pair has confidently broken above its recent high at 1.1750, testing a key resistance level at 1.1800. If the current news backdrop and support around the 1.1600–1.1700 range remain intact, the pair may continue its upward movement towards the 1.1900 mark. Technical analysis of EUR/USD indicates strong bullish momentum; however, such movement may also be accompanied by sharp corrective pullbacks and heightened volatility.



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.

[FXOpen Trader]

USD/CHF Exchange Rate Falls to Multi-Year Low


According to the chart, the USD/CHF exchange rate has settled below the key psychological level of 0.8000. The rate hasn’t been this low since the financial crisis of 2008.

On one hand, the drop in USD/CHF is driven by weakness in the US dollar. The US dollar index has fallen to its lowest level in over three years, largely due to the conflicting trade policies pursued by the Trump administration. On the other hand, geopolitical instability has increased the appeal of the Swiss franc as a so-called safe-haven asset.



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.

[FXOpen Trader]

What Is the Bullish Harami Pattern in Trading?


Candlestick patterns can often help traders pinpoint the start of an upcoming price reversal. One of the more popular reversal signals is the bullish harami, a two-candle formation that may indicate fading selling pressure and the beginning of the bullish movement. This article breaks down what the bullish harami looks like, how it works, and how it fits into a broader trading toolkit.
What Is a Bullish Harami Candlestick Pattern?

The bullish harami is a two-candle pattern that typically appears during a downtrend and signals a potential bullish reversal. It consists of a large bearish candle followed by a smaller bullish candle that’s completely contained within the body of the first. Visually, it looks like the second candle is “inside” the first—hence the name harami, which means “WTO (World Trade Organization)” in Japanese.

The first candle reflects strong selling pressure, while the next shows fading bearish momentum. Buyers step in just enough to keep the price from falling further, and the result is a small-bodied candle that doesn’t break below the previous low and closes above its open. It’s not an aggressive bullish move, but enough to signal hesitation from sellers.

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.

[FXOpen Trader]

Renewed Feud Between Musk and Trump Drags Tesla (TSLA) Share Price Lower


The US Senate yesterday narrowly approved Trump’s so-called “big, beautiful budget bill.”

Elon Musk, who had previously criticised the bill for potentially adding $3.3 trillion to the national debt, warned that Republican lawmakers who supported it would face political consequences. In a post on X, Musk wrote:
“Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth.”

He also reiterated his intention to establish a third political force under the name “America Party.”

In response, President Trump issued sharp threats:
→ to apply federal pressure on Musk’s companies by revisiting existing subsidies and government contracts (estimated by The Washington Post at $38 billion);
→ to deport Musk back to South Africa.

The market responded immediately to this renewed escalation in the Trump–Musk conflict. Tesla (TSLA) shares fell by over 5% yesterday, forming a significant bearish gap.



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.

[FXOpen Trader]

EUR/USD Analysis: Rally May Be Under Threat


The euro has appreciated by approximately 15% against the US dollar this year, as confidence in the United States continues to wane. As ECB Chief Economist Philip Lane noted in an interview at CNBC: “There is a degree of reorientation by global investors towards the euro.”

At the same time, officials at the European Central Bank have expressed concern that the rapid strengthening of the euro could undermine efforts to stabilise inflation at 2%. They warn that a move above $1.20 may pose risks for inflation and the competitiveness of export-oriented firms — an issue raised during the ECB’s ongoing ECB Forum on Central Banking in Portugal.



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.

[FXOpen Trader]

The Market Consolidates Ahead of US Job Data


After a volatile start to the week, the British pound has stabilised, with the GBP/USD and GBP/CAD pairs entering a consolidation phase. Investors are locking in profits following a recent bullish surge, as they await the release of key US labour market data, which could determine the direction of trading in the coming sessions.

Today, preliminary employment figures from ADP are expected, while tomorrow, market participants will focus on the US Non-Farm Payrolls report for June. The forecast anticipates an increase of 120K new jobs (below May data), with a slight rise in the unemployment rate to 4.3%. Additionally, markets will receive figures on jobless claims and average earnings. Any deviation from expectations could significantly impact Federal Reserve interest rate outlooks for the second half of the year.

Political factors are also influencing the market: pressure from Donald Trump on the Federal Reserve leadership has intensified once again. The White House has reportedly sent Jerome Powell a list of global central bank interest rates, with notes suggesting that US rates should be lower than their current levels. These remarks have heightened investor concerns about the Federal Reserve's independence and fuelled speculation over potential policy easing.



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.

[FXOpen Trader]

How to Master Technical Analysis


Price action traders are avid chart enthusiasts, constantly scouring price charts for valuable insights. Their trading approach is deeply rooted in technical analysis, a method that has been in the books of market participants for centuries. This article will cover technical analysis strategies and go into advanced technical analysis techniques.

Definition and Purpose of Technical Analysis

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

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.

[FXOpen Trader]

EUR/USD Rallies on Broad Dollar Weakness, USD/CHF Slips Lower


EUR/USD started a fresh increase above the 1.1750 resistance. USD/CHF declined and now struggling below the 0.8000 resistance.

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

• The Euro started a decent increase from the 1.1600 zone against the US Dollar.
• There is a connecting bullish trend line forming with support near 1.1770 on the hourly chart of EUR/USD at FXOpen.
• USD/CHF declined below the 0.8000 and 0.7950 support levels.
• There is a key bearish trend line forming with resistance near 0.7920 on the hourly chart at FXOpen.

EUR/USD Technical Analysis


On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.1600 zone. The Euro cleared the 1.1650 resistance to move into a bullish zone against the US Dollar.

The bulls pushed the pair above the 50-hour simple moving average and 1.1750. Finally, the pair tested the 1.1830 resistance. A high was formed near 1.1829 and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward wave from the 1.1590 swing low to the 1.1830 high.

Immediate support on the downside is near a connecting bullish trend line at 1.1770. The next major support is the 1.1710 level. A downside break below the 1.1710 support could send the pair toward the 1.1680 level and the 61.8% Fib retracement level of the upward wave from the 1.1590 swing low to the 1.1830 high.

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.

[FXOpen Trader]

Understanding News-based Trading


News events have a significant impact on financial markets. Every headline — from economic data releases to geopolitical shifts — can determine trading results. If you understand the effect of news on financial markets, you can capitalise on opportunities and manage risk in this dynamic environment. In this article, we’ll share some tips on when and how to trade the news.

What Is News-Based Trading?
As a trader or investor, you need to know when to enter or exit a trade. But you won’t be able to predict future price changes if you ignore the news. Although technical indicators are valuable tools for price prediction, news arrives every day and the market situation changes. To act wisely, you need to know how to react to the news and make investment decisions and trades based on it.

Traders who follow this approach closely monitor economic indicators, market analysis, corporate announcements and geopolitical events to identify trading opportunities. That’s why on various platforms like FXOpen, you can find market news and analysis.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

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.

[FXOpen Trader]

S&P 500 Hit Record High Ahead of Holiday Break


Today, financial markets in the United States are closed in observance of Independence Day. Investor sentiment was likely buoyed by the latest rally in the S&P 500 index (US SPX 500 mini on FXOpen), which set a new all-time high yesterday, surpassing 6,280.

The bullish momentum has been driven by robust labour market data in the US. According to ForexFactory, analysts had anticipated a rise in the unemployment rate from 4.2% to 4.3%, but instead, it unexpectedly declined to 4.1%.

Can the stock market continue to climb?



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.

[FXOpen Trader]

Alibaba (BABA) Shares Fall to Lowest Level in 2.5 Months


Yesterday, Alibaba (BABA) shares dropped to their lowest level since late April. The decline followed the company’s announcement of a planned bond issuance totalling approximately $1.53 billion, with a maturity date set for 2032. The funds will be used to support the development of Alibaba's cloud infrastructure and expansion of its international e-commerce business.

The market’s negative reaction may stem from concerns over rising debt levels and the potential return on these investments.



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.

[FXOpen Trader]

Market Analysis: GBP/USD Dips as EUR/GBP Accelerates Higher


GBP/USD failed to climb above 1.3800 and corrected some gains. EUR/GBP is rising and might climb above the 0.8670 resistance.

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

• The British Pound is showing bearish signs below the 1.3700 support against the US dollar.
• There is a key bearish trend line forming with resistance near 1.3650 on the hourly chart of GBP/USD at FXOpen.
• EUR/GBP is gaining pace and trading above the 0.8600 zone.
• There was a break above a contracting triangle with resistance at 0.8630 on the hourly chart at FXOpen.

GBP/USD Technical Analysis


On the hourly chart of GBP/USD at FXOpen, the pair failed to stay above the 1.3750 pivot level. As a result, the British Pound started a fresh decline below 1.3720 against the US Dollar.

There was a clear move below 1.3700 and the 50-hour simple moving average. The bears pushed the pair below 1.3650. Finally, there was a spike below the 1.3600 support zone. A low was formed near 1.3562 and the pair is now consolidating losses.

There was a minor move above the 1.3615 level. On the upside, the GBP/USD chart indicates that the pair is facing resistance near the 1.3650 level. There is also a key bearish trend line forming with resistance near 1.3650.

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.

[FXOpen Trader]

EUR/USD Analysis: US Dollar Strengthens at the Start of the Week


On 2 July, on the EUR/USD chart, we noted that the rally—during which the pair had gained more than 6% since mid-May—was under threat, citing several technical signals, including:
→ proximity of the price to the upper boundary of the ascending channel;
→ overbought conditions on the RSI indicator;
→ nearby resistance from the Fibonacci Extension levels, around 1.18500.

Trading at the start of the week points to renewed US dollar strength. This became particularly evident with the opening of the European session, which triggered a decline in EUR/USD to the 1.17500 area.

It is reasonable to assume that the dollar’s strength against the euro is linked to early-week positioning by traders, who are anticipating news regarding US trade agreements.

According to Reuters, the United States is close to finalising several trade deals in the coming days and is expected to notify 12 other countries today about higher tariffs.



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.

[FXOpen Trader]

Nasdaq 100: Bearish Signals Near the All-Time High


As the 4-hour chart of the Nasdaq 100 (US Tech 100 mini on FXOpen) shows, the index reached a new all-time high last week. However, the price action suggests that the current pace of growth may not last.

Last week’s strong labour market data triggered a significant bullish impulse. However, the upward momentum has been entirely retraced (as indicated by the arrows).

The tax cut bill signed on Friday, 4 July, by Trump — which is expected to lead to a significant increase in US government debt — contributed to a modest bullish gap at today’s market open. Yet, as trading progressed during the Asian session, the index declined.

This suggests that fundamental news, which could have served as bullish catalysts, are failing to generate sustainable upward movement — a bearish sign.



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.

[FXOpen Trader]

RSI Indicator Explained: How to Use the Relative Strength Index in Trading


What is the relative strength index? The relative strength index is one of the most common oscillators. Many traders prefer it to other momentum indicators because it provides numerous signals and can be used in different timeframes and for various assets with minor changes in its settings. In this FXOpen article, you will learn what the RSI is and how to use it in trading strategies.
What Does Relative Strength Index Mean?

The relative strength index (RSI) is a momentum indicator. It was developed by J. Welles  Earnings-price ratioer Jr. and presented for the first time in 1978 in his book entitled New Concepts in Technical Trading Systems. The indicator was introduced as a tool for identifying overbought and oversold market conditions by measuring the speed and magnitude of recent price changes. Today, traders use it to identify overbought/oversold conditions, divergences, and trends.

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.