Daily Market Analysis By FXOpen

Moderna (MRNA) Stock Rises 7.5% in a Single Day



Last week, shares of several major European and American vaccine manufacturers dropped in response to the appointment of Robert F. Kennedy Jr. as head of the Department of Health and Human Services, given his well-known anti-vaccine stance.
This added pressure to Moderna (MRNA) shares, which have been in a downtrend (illustrated by the red channel). Since the start of 2024, they have fallen by over 50%, even as the S&P 500 (US SPX 500 mini on FXOpen) has gained more than 25%.
However, during Friday’s trading session, MRNA shares surged by 7.5%, making them one of the market leaders (by comparison, the S&P 500 gained approximately 0.4% on the same day).



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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.

GBP/USD Analysis: Pair Finds Support at Psychological Level



As the GBP/USD chart shows today:
→ Since the start of the month, the pound has declined by approximately 2.5% against the US dollar.
→ The 1.2618 level has shifted from support to resistance (as indicated by arrows).
Bearish sentiment has also been fuelled by Friday’s UK data (according to Forex Factory):
→ Retail sales fell by 0.7% month-on-month.
→ PMI figures came in below analysts’ expectations.



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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.

What Indicators Do Traders Use for Scalping?



Scalping is a fast-paced trading style where traders aim to take advantage of small price movements within short timeframes. Such traders often rely on technical indicators to make quick decisions. This article explores some of the most popular scalping indicators, providing insights into how they can help traders spot opportunities in fast-moving markets.

Understanding Scalping Indicators
As you know, scalping is a trading strategy where traders aim to take advantage of small price movements by executing numerous trades within short timeframes, often closing trades within a few minutes. This approach requires swift decision-making and precise timing.
Technical indicators are essential tools in this context, as they provide real-time data and insights into market trends, momentum, and volatility. Using these indicators, traders can identify optimal entry and exit points, potentially enhancing their ability to navigate the rapid pace of the market.

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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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

How Black Friday Could Impact the Stock Market in 2024



Black Friday, one of the most anticipated and significant days in retail, falls on the Friday following Thanksgiving in the United States. This day is considered an early indicator of the success of the Christmas shopping season and can serve as a trigger for the so-called "Santa Claus rally" – a period of stock market growth typically observed from late December to early January. Let’s explore how Black Friday might influence the stock markets this year.

Fundamental Analysis
According to data from the Federal Reserve Bank of St. Louis, consumer spending accounts for approximately 70% of the U.S. Gross Domestic Product (GDP). Many analysts view stimulating consumer spending as key to sustaining economic activity. Thus, Black Friday sales figures are often seen as a vital indicator of the nation’s economic health.
In 2024, Black Friday takes on added importance amid the Federal Reserve's recent cycle of interest rate cuts. Consumer spending levels during the sales period will reflect the current state of the economy, which could influence the Fed's future monetary policy direction.

Impact on the U.S. Stock Market
From 2001 to 2023, trends in the S&P 500 index around Black Friday have been variable, though generally positive. For example, the S&P 500 gained more than 1% in 2001, 2007, and 2012, while in 2009, it fell by 1.7%. This variability highlights the difficulty of finding a consistent annual pattern.
However, retail stocks often display discernible trends during this period. As noted by Yahoo Finance, some companies’ shares have shown positive momentum in the week before and after Black Friday.

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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.

What Is a Pin Bar Candle, and How Can You Use It in Trading?



Understanding candlestick patterns is key for traders aiming to analyse market movements. One particularly insightful pattern is the pin bar candle, which can reveal crucial information about market sentiment and potential price reversals. In this article, we'll explore what this candle is and how traders might use a pin bar trading strategy.

What Is a Pin Bar Candle?
A pin bar candle is a distinctive candlestick pattern that traders use to analyse potential market reversals. It stands out on a chart due to its unique shape: a small real body with a long wick. When a pin bar appears on a chart, it reflects a tug-of-war between buyers and sellers that resulted in a significant price rejection. This rejection is captured by a key element, the long wick, indicating that the market tested a price level but couldn't sustain it, which marked a possible turning point.

There are two main types of pin bar candlestick: bullish and bearish. A bullish pin bar features a long lower wick and may indicate that buyers are entering the market after a period of selling pressure. This pattern signals a potential upward movement in price. Conversely, a bearish pin bar has a long upper wick, suggesting that sellers are gaining strength after sustained buying pressure, which can precede a downward price movement.

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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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

Euro and Pound Correct Ahead of Key Economic Data Releases



The start of the final trading week of November has been eventful. Several currency pairs experienced a "gap" or price difference between Friday's close and Monday's opening. For instance, the GBP/USD pair opened 60 pips lower, EUR/USD saw a 70-pip gap, and USD/JPY opened with a 50-pip difference. At the week's outset, the USD faced a downward pullback, which in some pairs has since transitioned to a sideways trend. Analysts attribute this sharp retreat to market reactions following Trump’s selection of a Treasury Secretary. Scott Bessent recently stated that tariffs should be introduced gradually, and his supporters believe he could help curb the growth of the U.S. budget deficit.

EUR/USD



As anticipated, the EUR/USD pair has renewed last year’s lows, briefly trading below 1.0400. A sharp rebound from the 1.0330 level allowed buyers to regain momentum, pushing the pair up to 1.0540. Currently, the upward correction has shifted into a sideways movement within the 1.0500–1.0400 range. The next breakout with consolidation is likely to dictate the pair's direction:

 

1. A move above 1.0540 could prompt a test of the 1.0700–1.0800 zone.
2. A break below the recent low at 1.0330 might pave the way for a test of 1.0200–1.0000.

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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.

Market Analysis: EUR/USD Attempts Recovery While USD/JPY Dips



EUR/USD is recovering losses from the 1.0335 zone. USD/JPY is declining and showing bearish signs below the 154.00 level.
Important Takeaways for EUR/USD and USD/JPY Analysis Today

 

1. The Euro struggled to start a fresh increase and declined below the 1.0500 zone.
2. There is a key contracting triangle forming with resistance at 1.0500 on the hourly chart of EUR/USD at FXOpen.
3. USD/JPY is trading in a bearish zone below the 155.00 and 154.00 levels.
4. There is a major bearish trend line forming with resistance near 153.60 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair started a fresh decline from the 1.0610 zone. The Euro declined below the 1.0550 and 1.0500 levels against the US Dollar.
The pair even declined below 1.0400 and the 50-hour simple moving average. Finally, it tested the 1.0335 zone. A low was formed at 1.0332 and the pair is now recovering losses. There was a move above the 1.0400 level.

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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.

S&P 500 Index Hits a New Record



As shown on the S&P 500 chart (US SPX 500 mini on FXOpen), the stock index has reached a new record, surpassing the high set on 11 November.
Bullish sentiment on Wall Street was driven by the announcement that Trump has selected Scott Bessent, a renowned investor and hedge fund manager, as Treasury Secretary.
A technical analysis of the S&P 500 chart (US SPX 500 mini on FXOpen) reveals that the price is moving within two ascending channels:
→ The medium-term blue channel that began in August.
→ The short-term steeper channel (marked with black lines), which has pushed the price from the lower half of the blue channel to its upper half.
→ The decline from B to C retraced approximately 50% of the rise from A to B.



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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.

Spotify (SPOT) Shares Hover Near All-Time High



According to the Spotify (SPOT) chart:
→ The stock price has risen by over 150% since the start of 2024.
→ It has formed an ascending channel (marked in blue).
→ Growth accelerated in November, surpassing the $400 level and climbing to around $470.

The large bullish gap on 13 November followed the release of a Q3 earnings report, which fell short of expectations: earnings per share were 14% below forecast, and gross revenue was 1% lower than anticipated.
However, the market reacted enthusiastically to the company’s plans to launch a “Super-Premium” tier, offering Hi-Fi music streaming and other innovations, including features related to video.
Spotify first announced its intention to introduce a higher-end Premium subscription with features like lossless, CD-quality audio several years ago, but licensing issues delayed the rollout.

According to TechCrunch, the new tier is expected to cost approximately $17–$18 per month, about $5 more than the current Premium subscription. Investors appear optimistic about potential revenue growth, driving SPOT's stock price to a historic high of $470.

Technical Analysis of SPOT



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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.

Forex Market Sentiment Strategies



In forex trading, high performance often hinges not only on fundamental knowledge and technical analysis skills but also on the collective psychology of market participants. Leveraging market sentiment can thus be effective. This article discusses forex market sentiment, unravelling its nuances, exploring key indicators and sources, and offering strategies you may use to integrate sentiment analysis with technical indicators.

Understanding Forex Market Sentiment
Market sentiment in forex encompasses the collective mood and attitude of traders towards a particular currency pair. Traders often categorise market sentiment into various types, primarily:
Bullish Sentiment: Indicates an optimistic outlook, where traders expect the price of a currency to rise.
Bearish Sentiment: Reflects a pessimistic outlook, suggesting that participants expect a currency's value to decline.
Market Sentiment Indicators and Sources
Sentiment analysis in trading requires research into specific indicators and data sources, allowing for the integration of market psychology with objective market data.

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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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

Dollar Declines Following Weak Macroeconomic Data



The final trading week of November may prove to be the worst this month for the US dollar. Following the release of Chicago PMI data and the US Q3 GDP report, USD/JPY and USD/CAD have fallen to key support levels.

USD/JPY



A retest of the critical resistance level at 156.00 proved decisive for USD/JPY buyers. The rejection from this level confirmed the previously formed "bearish engulfing" pattern and led to losses exceeding 400 pips. Yesterday, the price fell below the 152.00–151.50 range, which had initiated the pair’s rally after Donald Trump's election victory. In upcoming trading sessions, this range may be retested, but now as resistance. If buyers fail to hold above 152.00, a further downtrend toward 150.00–149.00 is possible.

Key upcoming events that could shape USD/JPY’s trajectory include:

1. Today at 17:00 (GMT +3): Dallas Fed Personal Consumption Expenditures (PCE) Index (US)
2. Tomorrow at 02:50 (GMT +3): Japanese Industrial Production data
3. Tomorrow at 17:45 (GMT +3): Chicago PMI report (US)

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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.

Analytical Tesla Stock Predictions for 2024, 2025 – 2030 and Beyond



Tesla's stock has experienced significant volatility since its IPO in 2010, driven by its significant technological advancements and status as a leading electric vehicle producer. This article explores Tesla's recent price history, analyses its outlook for 2024 and 2025, and provides detailed analytical forecasts for 2026 to 2030 and beyond, offering insights into the company's future performance and potential growth in the EV market.

Tesla’s Recent Price History
Tesla's journey in the stock market has been marked by significant milestones and periods of volatility. Since its initial public offering (IPO) in June 2010, when it debuted at $17 per share, Tesla has seen dramatic price changes driven by key events and developments.
If you want to follow TSLA CFD price movements, head over to the TickTrader trading platform.

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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.

Brent Crude Oil Consolidates Ahead of OPEC+ Meeting



The ATR indicator on the XBR/USD chart has dropped to its lowest level since early autumn, signalling reduced volatility. This likely reflects market participants awaiting announcements from the OPEC+ meeting scheduled for 1 December.
Overall, Brent crude prices remain under pressure due to:
→ reduced tensions in the Middle East, with reports this week confirming a ceasefire agreement between Israel and the Lebanese militant group Hezbollah;
→ news of rising crude oil inventories in the U.S.;
→ forecasts of slower oil demand growth from China in 2025.
On the other hand, the $70-71 range serves as strong support, marked by key lows from 2023-2024.



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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.

Forex Correlation and Diversification Strategies



In forex trading, currency correlation and diversification strategies are vital tools for managing risk and optimising returns. This article explores the nuances of these techniques, providing traders with insights to navigate the forex market effectively using currency correlation.

Understanding Forex Correlation and Diversification
In forex trading, understanding the correlation between currencies is pivotal. This concept refers to how currency pairs move in relation to each other. For example, some pairs exhibit positive correlation, moving in tandem, while others show negative correlation, moving in opposite directions. Grasping these correlations aids traders in analysing market movements and in developing strategies that may minimise risks.

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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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

HP Inc. (HPQ) Shares Drop 11%



HP Inc. (HPQ) shares plummeted 11% following the release of its quarterly earnings report:
→ Earnings per share (EPS): Actual = $0.93, Expected = $0.93
→ Revenue: Actual = $14.05 billion, Expected = $13.09 billion
While HP Inc.'s reported revenue and EPS aligned closely with analysts’ expectations, the market was disappointed by its forward guidance. According to FactSet, the company forecast EPS for the next quarter at $0.73, falling short of the $0.85 expected by analysts.
As a result, HPQ shares dropped below $35 for the first time since October 1. Is now the time to buy shares in this leading provider of PCs and high-tech products?



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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.

USD/JPY Chart Analysis: Bears Target the 150 Yen per Dollar Level



Thanksgiving in the U.S. might have been expected to bring calm to financial markets, but Forex trading in Asia tells a different story following the release of Japan's Consumer Price Index (CPI).
According to Forex Factory:
→ Actual = 2.2%
→ Forecast = 2.0%
→ Previous = 1.8%
Signs of sustained inflation growth have spurred currency market participants to buy yen, speculating that the Bank of Japan might raise interest rates. The upcoming December meeting could see rates increased to 0.5%, which would mark the highest level since 2008.
As a result, the yen strengthened by approximately 1% today, hitting its highest level in six weeks and briefly dipping below the psychological level of 150 yen per dollar.



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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.

Watch FXOpen's 25 - 29 November Weekly Market Wrap Video


Weekly Market Wrap With Gary Thomson: SP500, US Dollar, Brent Crude Oil, Black Friday

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.

 

1. S&P 500 Index Hits a New Record
2. Dollar Declines Following Weak Macroeconomic Data
3. Brent Crude Oil Consolidates Ahead of OPEC+ Meeting
4. How Black Friday Could Impact the Stock Market in 2024

Stay in the know and empower yourself with our short, yet power-packed video.

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.
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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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

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What Is the Difference Between Brent and WTI Crude Oil for Traders?



Brent Crude and WTI are two of the most important oil benchmarks in the world, influencing global markets and trading strategies. While both represent high-quality crude, they differ in origin, composition, pricing, and market dynamics. This article explores questions like “What is Brent Crude?”, “What is WTI Crude?”, and “What is the difference between Brent and crude oil from West Texas?”, helping traders navigate their unique characteristics.

Brent Oil vs Crude Oil from West Texas
Brent Crude and West Texas Intermediate (WTI) are two primary benchmarks in the global oil market, each representing distinct qualities and origins.

What Is Brent Crude Oil?
Brent Crude originates from the North Sea, encompassing oil from fields between the United Kingdom and Norway, like Brent, Forties, Oseberg, Ekofisk, and Troll. This region's offshore production benefits from direct access to sea routes, facilitating efficient transportation to international markets. The North Sea's strategic location allows Brent Crude to serve as a global pricing benchmark and influence oil prices worldwide.
This blend is slightly heavier and contains more sulphur compared to WTI. Despite this, Brent Crude is extensively traded and serves as a pricing reference for about two-thirds of the world's oil contracts, primarily on the Intercontinental Exchange (ICE).

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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.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

Market Analysis: GBP/USD Climbs Back as EUR/GBP Faces Pressure



GBP/USD is attempting a recovery wave above the 1.2600 resistance. EUR/GBP declined steadily below the 0.8340 and 0.8330 support levels.

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

 

1. The British Pound is attempting a fresh increase above 1.2620.
2. There is a key bullish trend line forming with support near 1.2680 on the hourly chart of GBP/USD at FXOpen.
3. EUR/GBP is trading in a bearish zone below the 0.8330 pivot level.
4. There is a connecting bearish trend line forming with resistance near 0.8305 on the hourly chart at FXOpen.

GBP/USD Technical Analysis

On the hourly chart of GBP/USD at FXOpen, the pair declined after it failed to clear the 1.3000 resistance. As mentioned in the previous analysis, the British Pound even traded below the 1.2800 support against the US Dollar.
Finally, the pair tested the 1.2500 zone and is currently attempting a fresh increase. The bulls were able to push the pair above the 50-hour simple moving average and 1.2600. The pair even climbed above the 1.2700 level.

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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.

MicroStrategy (MSTR) Stock Price Surged Over 60% in November



According to the MicroStrategy Incorporated (MSTR) stock chart:
→ At the start of November, the stock price was around $244;
→ Last Friday, it closed just below $395;
→ This represents a more than 60% increase in MSTR’s price over the month, making it one of the top performers on the U.S. stock market;
→ At its peak on 21 November, the stock traded above $520, reflecting a 115% surge in just three weeks.

Two key drivers supported the bullish sentiment:
1. Bitcoin holdings by MicroStrategy.
According to Benzinga, the company owns nearly 2% of the global Bitcoin supply, a figure projected to rise to 4% by 2023. The current surge in BTC/USD towards $100,000 has significantly increased MicroStrategy's value. Co-founder Michael Saylor stated that the company earns an average of $500 million daily from its Bitcoin investments.

2. Market capitalisation milestones.
In November, MicroStrategy's market capitalisation exceeded $100 billion for the first time. On this note, Seeking Alpha highlighted the potential for MicroStrategy's inclusion in the Nasdaq 100 index. This could prompt large funds tracking the index to purchase MSTR shares for their portfolios.



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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.