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The Dollar Continues to Correct in Anticipation of the FOMC Minutes Publication In the middle of this week, the main currency pairs continued their upward correction against the US dollar. Buyers of the EUR/USD pair managed to pass the level of 1.0600, the GBP/USD currency pair tested the important level of 1.2300, and sellers of USD/JPY yesterday tried to break through the support level at 148.00. However, the current market situation may change at any time, as very important macroeconomic data is expected to be published in the coming trading sessions. USD/JPY The USD/JPY currency pair is trading in a narrow sideways range between 148.20 and 149.50. Investors are wary of currency interventions by the Bank of Japan, which may become relevant if the price passes the level of 150.00. However, sellers are in no hurry to enter into transactions since the Fed most likely does not plan to change monetary policy in the coming months. The large gap between yen and dollar interest rates makes this pair very attractive to buy and prevents it from falling below 148.00-147.00. Any hints of a change in monetary policy by the American regulator or disappointment in the fundamental indicators of the dollar could cause a sharp decline in the pair. Today at 15:30 GMT+3, the publication of data on producer prices (PPI) in the United States for September is expected. At 21:00 GMT+3, the minutes of the last Fed meeting will be published. Alsoб early the next morning, it is worth paying attention to the speech of a member of the board of directors of the Bank of Japan, Asahi Noguchi. 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.

Bank of England Expresses Concern Over Overvalued US Tech Stocks Amid Macro-Economic Uncertainty The Bank of England has voiced concerns over the soaring valuations of US technology stocks, citing the current macroeconomic landscape and the surge in interest rates. This commentary underscores the evolving dynamics in global financial markets. The UK stock market stands in stark contrast to its tech-focused counterpart in the United States, particularly the NASDAQ. The London Stock Exchange is home to well-established blue-chip firms with traditional corporate foundations. These companies span industries such as retail, pharmaceuticals, energy, leisure, and heavy industry. In contrast, NASDAQ boasts tech giants from Silicon Valley, including titans like Apple and Google, as well as recent entrants through Special Purpose Acquisition Companies (SPACs), with valuations soaring into the billions. 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.

NZD/USD Analysis: The Rate Reaches a 2-month High This morning, as the NZD/USD chart shows, one USD was worth 0.605 New Zealand dollar, for the first time since August 10. The strengthening of NZD was facilitated by: → rumours that China is planning a major stimulus package to boost the economy amid the real estate crisis. And the Australian and New Zealand dollars, as one can see, are showing growth against the backdrop of positive news from China; → the weakness of the US dollar due to the fact that Fed members make it clear in their statements that it is no longer worth raising rates further. 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.

EUR/USD Attempts Recovery While USD/CHF Revisits Support EUR/USD started a recovery wave above the 1.0550 resistance. USD/CHF declined and now trading near the 1.0450 support zone. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro gained pace after it broke the 1.0550 resistance against the US Dollar. There is a major bullish trend line forming with support near 1.0570 on the hourly chart of EUR/USD at FXOpen. USD/CHF declined below the 0.9140 and 0.9080 support levels. There is a connecting bearish trend line forming with resistance near 0.9080 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair started a recovery wave from the 1.0450 level. The Euro even cleared the 1.0485 barrier to move into a short-term bullish zone against the US Dollar. The bulls pushed the pair above the 50-hour simple moving average and 1.0570. Finally, the pair tested the 1.0615 resistance. It is now consolidating gains above the 23.6% Fib retracement level of the upward wave from the 1.0519 swing low to the 1.0619 high. Immediate support on the downside is 1.0595. The next major support is near a bullish trend line at 1.0570 and the 50-hour simple moving average. The trend line is close to the 50% Fib retracement level of the upward wave from the 1.0519 swing low to the 1.0619 high. A downside break below the 1.0570 support could send the pair toward the 1.0485 level. Immediate resistance on the EUR/USD chart is near the 1.0615 zone. The first major resistance is near the 1.0650 level. An upside break above the 1.0650 level might send the pair toward the 1.0700 resistance. The next major resistance is near the 1.0720 level. Any more gains might open the doors for a move toward the 1.0800 level. 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.

Major Currency Pairs Correct after Sharp Declines The fairly positive US jobs report released last Friday ultimately led to a corrective pullback in almost all currency pairs. The US dollar fell against the yen, commodity currencies, the pound, and the euro. However, not all pairs managed to overcome the key ranges; the size of the corrective pullback and the possibility of a reversal will depend on the incoming fundamental events of the coming trading sessions. USD/CAD In the US dollar/loonie pair, we are seeing the bearish tweezer pattern, formed on October 5, working out. The combination was confirmed the next day with a long black candle. The nearest range where the price can fall is from 1.3540 to 1.3500. Cancellation of the downward scenario may occur after a confident consolidation above 1.3700. Several FOMC members are scheduled to speak today, in particular Neel Kashkari and Christopher Waller. Comments from these officials could have a significant impact on the pair's pricing. 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.

BOE Concentrates on Persistent Inflation Whilst US Stocks Fly Bank of England policy committee member Catherine Mann emphasised the need for a more aggressive central bank response to prolonged inflation exceeding target levels. She highlighted the importance of addressing not only the current high inflation but also the risk of inflation expectations rising in the future. Ms. Mann's call for a proactive approach to inflation management came after her preference for a rate increase at the BOE's last meeting, while her colleagues voted to maintain the status quo. According to Ms. Mann, "Policy has to be more aggressive because it has to address both a drift in expectations as well as the actual inflation." She expressed concern about the persistence and duration of elevated inflation, underscoring the importance of managing embedded inflation expectations. The British pound is moving upward against the US dollar for the sixth day. 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.

Bitcoin Price Cannot Stay above $28k The first day of October coincided with the first attempt of the bulls to overcome the resistance level of USD 28,000 per coin, but on the 2nd of October, the sellers showed their presence. Since that time, the price has repeatedly exceeded the level of 28k, but each time not for long, after which a decline followed. Yesterday, there was another such decline. As the BTC/USD chart shows today, the rate is around 27,600. And it seems that the bulls may no longer have the strength to make a new attempt. Analyzing the bitcoin market on September 8, we pointed out a list of bearish arguments that give reason to doubt the positive prospects for bitcoin. The described price action of about 28k is another bearish argument in this list. 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.

Natural Gas Price Reaches 8-month High As the chart shows, yesterday, the price of gas rose above USD 3.60 for the first time since January of this year. It can be assumed that events in Israel contributed to the price increase, since the Middle East is an important supplier of gas. However, note that the bullish momentum started much earlier — gas prices have risen approximately 20% since the October 3 low. This confirms our assumptions about the bullish trend, which we published in the review on August 25th. Perhaps the price of gas is influenced by seasonal factors and fears that weather conditions in the coming winter will be difficult. 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.

US Dollar Falls Ahead of Employment Data EUR/USD The EUR/USD pair shows mixed dynamics, remaining close to 1.0540. The European currency ended the last two trading sessions with moderate growth, which allowed the pair to retreat from the record lows of December 2022. The driver of the correctional dynamics was the expectation of the publication of the September report on the labour market in the United States. Analysts are currently forecasting a slight decline in new nonfarm payrolls from 187.0k to 170.0k. Average hourly wages in September could rise from 0.2% to 0.3%, while the annual figure will likely remain unchanged at 4.3%. The unemployment rate is expected to correct from 3.8% to 3.7%. At the same time, trading participants have information from the Automatic Data Processing (ADP) company presented on Wednesday: in September, the dynamics of employment in the private sector slowed from 180.0k to 89.0k, which turned out to be significantly worse than the 153.0k expected by experts. A more confident growth of the single currency was hampered by statistics on foreign trade in Germany, published the day before: export volumes in August decreased by 1.2% after -1.9% in the previous month, while analysts expected -0.4%, and imports, by 0.4% after -1.3% with a forecast of growth of 0.5%. Against this background, the country's trade surplus decreased from 17.7 billion euros to 16.6 billion euros, which turned out to be better than expectations of 15.0 billion euros. Based on the highs of two days, a new ascending channel has formed. Now, the price has moved away from the upper border of the channel and may continue to move towards the lower border. 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.

USD/JPY Analysis: Psychological Level Changes the Price Sharply On Tuesday, the US dollar rose above the psychological level of 150 for the first time since October 2022 before falling sharply to a low of 147.30 as the yen rose. The media are discussing whether this movement confirms the fact of intervention on the part of the Japanese authorities. On the one hand, there are opinions that the yen's movement on Tuesday was much smaller (about 1.7%) than when the authorities intervened last year (the change was about 4%) to support the yen. On the other hand, there are no clear explanations about the reasons for the sharp movement — except as a manifestation of the authorities’ interest in preventing excessive weakening of the national currency. Perhaps only about the influence of psychology when reaching and short-term exceeding the round figure — an effect that, by the way, is characteristic of the cryptocurrency market. 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.

NFLX Analysis: Changes in Management, Price at Minimum Yesterday, the NFLX share price dropped below USD 370, the lowest since late May of this year, and about -22% from the July peak. Note that on July 6, we wrote that the NFLX stock price could meet resistance at USD 450 per share, and the signals from the chart gave bearish warnings. Just since July, the stock price began to perform worse than the broad S&P 500 market index. Perhaps the company knows better about the reasons for the emerging negative dynamics and is making changes in management. This week it became known about the appointment of Amy Reinhard to the post of president of the company's advertising business. New product directors and technical directors were also appointed. Will new executives help the stock return to its upward trajectory? 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.

AUD/USD and NZD/USD Aim Steady Recovery AUD/USD is attempting a recovery wave from 0.6285. NZD/USD is also rising and facing a major hurdle near the 0.5980 level. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar found support near 0.5870 and is now recovering against the US Dollar. There is a key rising channel forming with resistance near 0.6385 on the hourly chart of AUD/USD at FXOpen. NZD/USD is attempting a recovery wave above the 0.5930 resistance. There is a major bullish trend line forming with support near 0.5950 on the hourly chart of NZD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair recovered above 0.6450. However, the Aussie Dollar failed to clear 0.6500 and started a fresh decline against the US Dollar. The pair declined below the 0.6385 support. Finally, the bulls appeared near the 0.6285 zone. A low was formed near 0.6285 and the pair is now correcting losses. There was a move above the 23.6% Fib retracement level of the downward move from the 0.6500 swing high to the 0.6285 low. 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.

European Currencies Have Found a Short-term Bottom A weak employment report from ADR and a decline in the US services PMI contributed to the start of a corrective pullback in major currency pairs. Thus, the EUR/USD pair went above 1.0500, the GBP/USD pair is forming a bullish engulfing combination, and the USD/JPY pair fell below 149.00. GBP/USD The decline of the British currency was interrupted after the publication of data on the business activity index in the UK services sector for September. The indicator showed impressive growth: 49.3 against the forecast of 47.2. The composite business activity index (PMI) also turned out to be positive: 48.5 versus 46.8. Such positive statistics allowed pound buyers to find support just above 1.2000 and close yesterday with a reversal ‘bullish engulfing’ combination. If today we receive confirmation of the indicated signal in the form of any white candle, the price may return to 1.2280-1.2300. Today's news on the business activity index in the UK construction sector for September will be important for the pair's pricing. It is also worth paying attention to the speech of Ben Broadbent, a member of the Bank of England Monetary Policy Committee. 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.

CEO Sells Shares, AAPL Price Underperforms Market As it became known yesterday: → Tim Cook sold shares, selling 511k of his existing package of more than 3 million shares. For information: in 2023, he took a salary reduction of approximately 40%, but increased the size of the bonus (tied to the company's success) in the form of shares from 50% to 75%. → Investment bank KeyBanc Capital Markets downgraded AAPL shares. Analysts believe the company's sales will fall amid lower consumer spending. 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.

USD/CHF Analysis: Rate Rises to Its Highest in Six Months This happened against the backdrop of rising US bond yields. Reuters writes that it is in the region of a 16-year high. It is reasonable to assume that big capital was balancing its defensive portfolio by selling the franc, considered a safe haven, and buying dollars to invest in American bonds, which also have high-quality status. On July 13, we wrote that the franc could rebound from the lower line of the channel (shown in red). This was supposed to be facilitated by hawkish rhetoric from Fed officials and, as a result, the strengthening of the dollar. However, now the situation has reversed. The USD/CHF rate expanded the range of a larger downward channel and reached its upper limit. It even tried to break out of it on October 3 (but without noticeable success). 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.

WTI Oil Analysis: Price Falls 10% in Less Than a Week In our article “Oil Analysis: Finally, A Bearish Reversal?” on September 21, we drew attention to emerging signs that the initiative was shifting to the bears. This was noticeable in the changes in the dynamics of impulses and corrections, as well as in the analysis of the interaction between trading volumes and prices. Since then, the bulls were able to update the high of the year on September 28, but the price did not stay there for long, falling sharply in the following days. Three bearish candles formed on the chart, which confirmed the problems of the bulls, and the double top pattern (A-B) also became relevant. Another principle of technical analysis that emphasized the dominance of supply over demand is that each upward move was approximately 2 times weaker than the downward move. This can be seen in the consistent structure characteristic of a bearish trend: → the C→D move is approximately 50% of the B→C bearish momentum; → the rebound from the median line of the ascending channel E→F is approximately 50% of the bearish impulse D→E; → the bounce from the (now former) support line 87.50 G→H is approximately 50% of the bearish momentum F→G. 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.

Yen and Commodity Currencies Hit Annual Lows Yesterday, one could observe a continuation of the upward momentum in the dollar. Good data on the number of open vacancies in the US labour market from JOLTS allowed the USD/JPY pair to update its annual maximum at 150.00. The USD/CAD currency pair has strengthened above 1.3700, and the AUD/USD pair is approaching last year’s extremes at 0.6200-0.6100. USD/JPY The American currency continues to hold its leading position in the first five-day trading period of October. But, since many pairs have reached important levels, corrective pullbacks from the main movements can be expected in the near future. Thus, the USD/JPY pair fell sharply yesterday after testing the psychological level of 150.00 and lost more than 250 points in just an hour. US dollar buyers very quickly returned the price above 149.00, but apparently, the range of 150.20-150.00 could become a serious obstacle to further growth of USD/JPY. A corrective downward pullback for the pair may be limited by recent extremes at 147.30-148.50. Today at 15:15 GMT+3, we are waiting for preliminary data on employment in the US for September from ADR. A little later, the business activity index (PMI) in the US services sector for the same period will be released. 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.

Fed Policymakers Ponder Prolonged High Rates Amidst Inflation Dilemma The US Federal Reserve's persistent strategy of increasing interest rates to combat inflation and subsequently maintaining them at elevated levels has sparked a contentious debate in Western financial markets. While US Federal Reserve officials emphasise the necessity of a restrictive monetary policy to rein in inflation and bring it down to the Fed's 2% target, there remains an underlying dispute regarding the potential for another rate hike later this year. It's crucial to note that inflation in the United States has been relatively well-contained for over a year, a far cry from the double-digit inflation still plaguing certain regions in Europe. Nevertheless, central bankers' approach to monetary policy remains notably conservative. One of the paramount concerns facing the US economy is its staggering national debt, which surpasses that of most Western economies. Surprisingly, despite this financial burden, the US dollar continues to exhibit strength, notably gaining significant ground against the British pound in recent weeks. 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.

E-mini S&P 500 Falls to Lowest Since Early Summer Job openings rose to 9.6 million in August, the highest level since April, the US Bureau of Labor Statistics reported yesterday. That's nearly 700,000 more than in July and well above the Dow Jones forecast of 8.8 million. A strong labor market may indicate a growing economy, but why did E-mini S&P 500 futures fall to their lowest level since early summer? It's about the Fed's high rates. A strong labor market makes the case for keeping rates high for longer to slow inflation to the 2% target. And high rates mean a decrease in the profitability of companies' businesses; accordingly, we see the development of bearish sentiment in the stock market. We wrote about this scenario in an analytical review on September 19, before the last FOMC meeting took place. In addition, high Federal Reserve rates make bonds more attractive and portfolio managers, it can be assumed, are transferring capital from the stock market to bonds, as well as to cash (the dollar index hit a new high of the year yesterday). 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.

EUR/USD Tumbles While USD/JPY Seems Unstoppable EUR/USD remained in a bearish zone and declined below 1.0530. USD/JPY is again rising and might climb toward the 150.00 level. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.0530 support zone. There is a short-term bearish trend line forming with resistance near 1.0475 on the hourly chart of EUR/USD at FXOpen. USD/JPY climbed higher above the 148.00 and 148.75 levels. There was a rejection noticed near a bearish trend line at 150.15 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair remained in a bearish zone below the 1.0650 level, as mentioned in the previous analysis. The Euro declined below the 1.0530 support zone against the US Dollar. The pair even settled below the 1.0500 zone and the 50-hour simple moving average. A low is formed near 1.0448 and the pair is now consolidating losses. On the upside, the pair is now facing resistance near a short-term bearish trend line at 1.0475. The next key resistance is near the 50-hour simple moving average and the 23.6% Fib retracement level of the recent decline from the 1.0617 swing high to the 1.0448 low at 1.0485. A clear move above the 1.0485 level could send the pair toward the 1.0530 resistance. It is close to the 50% Fib retracement level of the recent decline from the 1.0617 swing high to the 1.0448 low. An upside break above 1.0530 could set the pace for another increase. In the stated case, the pair might rise toward 1.0615. If not, the pair might resume its decline. The first major support on the EUR/USD chart is near 1.0450. The next key support is at 1.0420. If there is a downside break below 1.0420, the pair could drop toward 1.0380. The next support is near 1.0335, below which the pair could start a major decline. 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.

The American Currency Resumes Growth The beginning of October turned out to be favourable for continued growth in the US dollar. From the data published yesterday, it follows that in September, the US manufacturing business activity index (PMI) rose to 49.0 against the forecast of 47.7. The ISM manufacturing employment index for the same period also turned out to be positive: 51.2 versus 48.3. Add to this the hawkish statements of the FOMC members who have spoken in recent days, and we can observe another upward impulse on the greenback. NZD/USD For commodity currencies, the current week is extremely rich in important fundamentals. This morning, the Reserve Bank of Australia met, tomorrow, the RBNZ will announce its verdict on the rate, and on Friday, the US employment report will be released. According to analysts' forecasts, the New Zealand regulator will leave the rate unchanged, which may put additional pressure on the NZD/USD pair. On the weekly timeframe, we are seeing a rebound from the important level of 0.6000. If the current situation does not change, we can expect a renewal of the March low of this year at 0.5860. We can consider cancelling the downward scenario only after a confident consolidation above 0.6050. 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.

Top 5 Stocks to Watch in October: Bank on the Backfoot, No Thirst for Coca-Cola, Tech Giant Takes Dip and Electric Vehicle Volatility October is here, and as the markets enter a new month, we take a closer look at five stocks that could be of significant interest to investors. 1) Bank of America Bank of America stock has taken a dive over the past weeks and entered October on a low point. Down from the high of $29 on September 14 to the mid $26 range at the close of business on the first trading day of October, it is now at its lowest point in six months. Yesterday, Bank of America stated that capitulation is a likely event when discussing the possibility of big drawdowns in October, and the sentiment of investors is reflected in these reduced share values. The company's CEO has said this week that he believes there will not be a recession, therefore giving rise to some investor confidence across the US markets. 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.

EUR/USD Analysis: The Rate Updates Its Multi-month Low Never in its history has the euro fallen for 11 weeks in a row against the dollar, but it happened. The minimum has been set for 2023. The reason seems to be that in an environment where central banks are raising rates to combat inflation, the US economy appears to be favored. Yesterday's batch of news confirmed this: → US ISM Manufacturing PMI index turned out to be higher than expected (actual = 49.0; forecast = 47.8; previous value = 47.6). → In his speech at a roundtable in Pennsylvania, the Fed chairman said: “Lots of good things happen,” commenting on the strong labor market. Today, by the way, at 17:00 GMT+3 JOLTS data on the number of vacancies will be released, which can confirm the stability of the economy. The attractiveness of USD is also affected by rising US government bond yields, as investors need dollars to buy them. How long can the fall of the euro continue, which is already “settled” below the level of 1.05? If the fundamental balance of power between the economies of Europe and the United States remains unchanged, the rate may reach the lower boundary of the bearish channel (shown in red). 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.

META Analysis: Price Target Raised to $390 Last week, the Meta Connect event took place, where the following were presented: → new Ray-Ban Meta Smart Glasses with a camera and microphones, including for broadcasting on social networks. The price of the gadget is USD 299; → Meta Quest 3 virtual reality helmet priced at USD 499; → AI characters for social networks, as well as Meta AI chatbot. Overall, the products were received favourably. And now analysts are making predictions about how this will affect the stock price. Thus, Truist Securities analyst Youssef Squali raised his target price to USD 390 per META share, expecting that: → revenue will increase by 21% year on year; → the company will receive many benefits through the implementation of AI (for example, Emu — an image generation model; Studio AI — a platform for developers that allows one to create new and customized AI). Add to this that the increase in revenue should be facilitated by the company’s intention to offer a subscription fee of USD 14 per month for using Instagram and Facebook, which will allow one to disable advertising. The daily chart of META stock, meanwhile, shows a mixed picture. 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.

Economic Calendar: US Labour Market and ISM Manufacturing PMI Data, RBA and OPEC+ Meetings The start of October brings plenty of macro data for traders to analyse as high inflation and low growth continue to weigh heavily on central bankers' and politicians' minds. ISM Manufacturing PMI (17:00 GMT+3) from the States gets the ball rolling on Monday. It has been below 50 (signalling a contraction) for almost a year now, but the last couple of months have been better than expected. 47.7 is the analysts' estimate for this month, so anything above this could be bullish for the US dollar. 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.