Daily Market Analysis By FXOpen

[FXOpen Trader]

Nvidia (NVDA) Shares Rise Towards a Key Resistance Level


As the Nvidia (NVDA) share chart shows, during yesterday's trading session the price advanced towards a key resistance area around $192.50, where notable peaks were formed in December 2025 and January 2026. The move was supported by several factors that boosted optimism:

→ Comments from company management. Nvidia CEO Jensen Huang stated that rising spending on AI is justified and reflects a long-term growth phase for the industry.

→ Goldman Sachs analyst Jim Schneider expects Nvidia's fourth-quarter revenue to exceed forecasts and surpass $67 billion, and also anticipates strong sales and profit figures in the first quarter of the 2026 financial year.



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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 Breaks Higher As USD/JPY Loses Bullish Grip


EUR/USD started a decent upward move above 1.1880. USD/JPY declined below 155.00 and is currently consolidating losses.

Important Takeaways for EUR/USD and USD/JPY Analysis Today
- The Euro found support and started a recovery wave above the 1.1850 resistance zone.
- There is a connecting bullish trend line forming with support at 1.1890 on the hourly chart of EUR/USD at FXOpen.
- USD/JPY is trading in a bearish zone below 156.00 and 155.00.
- There is a short-term bearish trend line forming with resistance at 154.65 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 1.1765. The Euro climbed above 1.1800 and 1.1850 against the US Dollar.

The pair even settled above 1.1880 and the 50-hour simple moving average. Finally, it tested the 1.1930 resistance. A high is formed near 1.1928, and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward move from the 1.1765 swing low to the 1.1928 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.

[FXOpen Trader]

USD Under Pressure Ahead of NFP: Yen and Loonie in Focus


The dollar continues to decline ahead of the US January labour market report and has yet to show signs of firm stabilisation. Pressure on the US currency persists, although it is possible that following the release of the employment data the dollar may attempt to steady and find short-term support.

Investors are still trimming dollar positions in advance of the Non-Farm Payrolls report, as well as the unemployment rate and wage growth figures, which are viewed as key indicators for assessing the Federal Reserve's next steps. After a spike in volatility at the start of the week, trading activity has eased and the market has shifted into wait-and-see mode, watching whether the data will confirm a gradual easing scenario or instead provide grounds for dollar stabilisation and a corrective rebound.



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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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Silver Price Stabilises


As indicated by today's ATR reading on the XAG/USD chart, trading activity has returned to the more normal levels seen prior to the third week of January, when:

→ silver entered a phase of exuberant growth towards its record high around the $120 mark;
→ this was followed by a dramatic collapse towards the $75 area.

The volatility indicator has now fallen back to customary levels, suggesting that supply and demand are gradually moving into balance.

Yesterday's release of weaker US retail sales data could have served as a bullish catalyst for gold and silver, as signs of slowing economic activity ahead of key employment figures tend to increase demand for safe-haven assets. However, this did not occur, reinforcing the view that the market is stabilising.



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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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Amazon (AMZN) Shares Struggle to Find Support After Weak Report


As the chart shows, Amazon (AMZN) shares have displayed pronounced bearish momentum following the release of a weak earnings report on 5 February:

→ Revenue: $213.4 bn (forecast: $211.4 bn)
→ Earnings per share (EPS): actual $1.95, forecast $1.97

According to media reports, particular concern arose after Amazon announced plans to spend $200 bn on capital expenditure in 2026, mainly on AI, data centres, and chips. This represents an increase of roughly 60% from last year and significantly exceeds analysts' expectations of around $146 bn.

Market participants may fear that the AI arms race (against Microsoft and Google) will be extremely costly, monetisation of these technologies could take years, and success is not guaranteed. As a result, we see two wide bearish gaps under the $232 and $220 levels, formed after the earnings release.



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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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WTI Oil Price Climbs to a Monthly High


As the XTI/USD chart shows, the price per barrel moved above the 4 February peak yesterday, marking its highest level since the start of the month. The bullish sentiment has been driven by geopolitical uncertainty. According to media reports:

→ The Trump–Netanyahu meeting in Washington on 10–11 February failed to ease tensions. Despite Omani mediation and statements suggesting a "near compromise", no formal agreement has yet been reached.

→ Reports of a possible deployment of additional US carrier strike groups to the Middle East have added to market nerves. Any escalation could threaten supplies through the Strait of Hormuz, which accounts for around 20% of global oil consumption.

While the fundamental backdrop remains tense and continues to support higher oil prices, the chart simultaneously points to vulnerability to a pullback.



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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 Retreats From Record High


As the chart shows, the Nikkei 225 index (Japan 225 on FXOpen) reached a historic high near 58,500 points on Monday. Bullish sentiment was driven primarily by political developments.

According to media reports, the rally followed the decisive victory of the Liberal Democratic Party (LDP) under Sanae Takaichi, who has signalled aggressive fiscal stimulus measures (a package exceeding $135 bn), food tax cuts, and the continuation of an accommodative monetary policy stance.

However, today the Nikkei 225 is showing signs of a pullback. It is possible that major market participants have begun taking profits amid the wave of optimism, as Takaichi's victory had already been largely priced in, and official confirmation of a parliamentary supermajority may have acted as a trigger to close long positions.

From a technical perspective, a retracement also appears justified.



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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 And Sterling Rally Slows After Strong US Data


At the start of the week, the euro and sterling posted solid gains amid dollar weakness and expectations of a more accommodative Federal Reserve policy path, testing local highs. However, the release of the January US employment report shifted market sentiment.

Non-farm payrolls rose by 130K versus a forecast of 66K, the unemployment rate unexpectedly fell to 4.3% (forecast: 4.4%), and average hourly earnings increased by 0.4%, exceeding previous readings. The data confirmed the resilience of the US labour market and supported the dollar, prompting a pullback in EUR/USD and GBP/USD from their recent peaks.



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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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Nasdaq 100 May Retest This Year's Low


As the chart of the Nasdaq 100 index (US Tech 100 mini on FXOpen) shows, bearish sentiment currently dominates the equity market. Yesterday, the technology index fell by around 2%.

Why Is the Nasdaq 100 Declining?
According to media reports, developments linked to the expansion of AI are weighing on the market:

→ Major technology firms are sharply increasing capital expenditure on infrastructure, yet there is little clarity on when these investments will begin to generate returns. For instance, Google issued bonds this week, including 100-year debt.

→ The impact of AI on traditional business models, particularly companies operating in the software sector.



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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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Mitigation Blocks: How May Traders Identify and Trade Them?


Understanding where institutional traders have left unfilled orders can provide insights into potential price reversals. Mitigation blocks represent specific zones on price charts where price movements stopped and reversed, offering traders a framework for anticipating future market behaviour.

Within the Smart Money Concept framework, these areas serve as possible reference points for entry and exit strategies. This article examines mitigation in trading, their distinguishing characteristics compared to breaker blocks, and practical applications in trading strategy development.

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.