Daily Market Analysis By FXOpen

Yen and Euro Test Local Lows



Amid easing inflation in the US and softer rhetoric surrounding trade relations with China, the US dollar has strengthened against major currencies, including the yen and the euro. Inflation data released yesterday came in below analysts’ expectations, which would typically put downward pressure on the dollar. However, the market responded differently this time: the decline in inflation was interpreted as a sign of economic resilience, reducing the urgency for the Federal Reserve to cut interest rates. Additional support for the dollar came from news that the Trump administration had reached an agreement with China to temporarily delay the introduction of new trade tariffs.

EUR/USD



Earlier this week, sellers in the EUR/USD pair managed to extend the downward correction, testing key support around the 1.1100 level. EUR/USD technical analysis suggests a potential return of upward momentum, as a bullish harami candlestick pattern has formed on the daily EUR/USD chart. If the price falls below 1.1070, the pair may test the 1.1000–1.0950 range.

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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 May Lose Upward Momentum


Yesterday’s inflation data release held no major surprises, as the actual Consumer Price Index (CPI) figures came in close to analysts’ forecasts.

According to Forex Factory:
→ Annual CPI: actual = 2.3%, forecast = 2.4%, previous = 2.4%;
→ Monthly Core CPI: actual = 0.2%, forecast = 0.3%, previous = 0.1%.
Overall, stock indices rose yesterday, but according to media reports, this momentum may begin to slow in the near future:
→ UBS analysts downgraded their rating on US equities from “attractive” to “neutral” following the recovery from early April lows;
→ Goldman Sachs analysts believe that the US stock market rally could stall at current levels. In their view, the S&P 500 (US SPX 500 mini on FXOpen) is likely to reach 5900 over the next three months.


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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.

Nvidia (NVDA) Share Price Jumps Over 5%


Nvidia (NVDA) shares surged to the $130 mark yesterday – a level not seen since late February 2025. This strong rise, marked by a wide bullish candlestick, helped Nvidia reclaim its status as a company valued at over $3 trillion.

Why Nvidia (NVDA) Shares Are Rising
The bullish sentiment has been driven by several factors, including:
→ Price increases on products: Nvidia has raised prices on its graphics cards and data centre chips. The GeForce RTX 5090 has risen by more than 10%, while the RTX 50 series is up by 5–10%.
→ News of a major contract: The company will supply chips to an AI start-up backed by Saudi Arabia. In addition, media reports suggest that the US government is considering a deal allowing the UAE to purchase up to 500,000 Nvidia chips annually until 2027.

All of this could positively impact Nvidia’s revenue, encouraging investors to buy NVDA shares.


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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.

Portfolio Diversification Techniques



When trading, you may encounter multiple risks. An asset may suddenly change its price trajectory as its value may be affected by external or internal factors. But if you look more globally, not at each asset individually, but at the portfolio as a whole, you can implement diversification strategies. Different assets react differently to changes in economic conditions, market sentiment, and political issues. With proper management, diversification techniques will help balance your portfolio.
In this FXOpen article, learn how to diversify your portfolio and how doing so can change your trading path, allowing you to control your risk across a variety of assets.

What Does It Mean to Diversify Your Portfolio?
Portfolio diversification means allocating investments across different assets to create a solid defence against market turbulence. Diversification is not just about not putting all your eggs in one basket; it’s about making informed decisions and creating a balanced set of assets that define your future trades. It’s also about maintaining balance, changing the composition of your portfolio depending on market conditions, and being attentive to each asset class.

Why Is It Important to Diversify Your Portfolio?
Think of diversification as your defence against the unpredictability of markets. It’s your secret weapon for levelling the playing field. You embrace the power of risk mitigation when one losing trade won’t hurt your entire portfolio. This makes your trading more predictable.

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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.

Gold Price Drops to Lowest Level in Over a Month



As shown on the XAU/USD chart, the price of gold fell below $3,130 this morning – its lowest level since 10 April.
Since its peak in May, gold has lost more than 8% in value per ounce.

Why Is Gold Falling?
Bearish sentiment in the gold market may be fuelled by easing geopolitical tensions. According to media reports:
→ China and the US have already reported progress in reaching a trade agreement, while details of potential deals with India, Japan, and South Korea are currently being developed.
→ Iran is reportedly willing to sign a nuclear deal in exchange for the lifting of sanctions. In addition, Donald Trump may lift sanctions on Syria during his visit to the Middle East.
→ The situation between India and Pakistan has stabilised, and today, talks between Russia and Ukraine are expected to take place in Istanbul, with a potential ceasefire on the agenda.

These developments could be seen as reducing the appeal of gold as a safe-haven asset.




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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.

Coinbase (COIN) Shares to Be Added to the S&P 500



According to media reports, shares of the cryptocurrency exchange Coinbase Global (COIN) are scheduled to be added to the S&P 500 index (US SPX 500 mini on FXOpen) on 19 May, replacing Discover Financial Services (DFS), which is in the final stages of being acquired by Capital One Financial (COF). The deal, having received all necessary approvals from regulators and shareholders of both companies, is expected to be completed on 18 May 2025.
As a result, Coinbase Global will become the first cryptocurrency-related company to be included in the S&P 500 index — a development that sent COIN shares surging to their highest level since late February. Inclusion in the S&P 500 is considered a bullish catalyst, as it suggests increased demand for the stock from index funds and signals improved prospects. Analysts have taken note; Rosenblatt Securities raised their price target for Coinbase Global Inc. (COIN) from $260 to $300.



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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.

The Pound Trades Sideways Ahead of Key Macroeconomic Data Releases



Currency pairs GBP/USD and EUR/GBP continue to exhibit moderate volatility, consolidating within narrow ranges as markets await the release of GDP figures from both the UK and the eurozone. Market participants remain cautious, awaiting key economic indicators that could set the direction for these currency pairs.
Additional attention is focused on today’s US trading session, which will feature a speech by Federal Reserve Chair Jerome Powell, along with the release of US retail sales data and the Producer Price Index (PPI). Against a backdrop of persistent disinflation and rising geopolitical uncertainty, investors will be closely analysing Powell’s comments for any signals regarding the timing of future interest rate changes.

Any clear assessment of the US economy or a dovish shift in tone could have a significant impact on the dollar’s trajectory — and by extension, influence the GBP/USD pair. Until then, the market is expected to remain in wait-and-see mode, with sideways movement likely to dominate.



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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.

Choosing an ECN Broker



Selecting a broker holds significant importance for your trading path. ECN brokers are renowned for their emphasis on transparency and efficiency within the trading sphere. In this FXOpen article, we delve into the core attributes of Electronic Communication Network (ECN) brokers, examining their distinctive characteristics and the inherent benefits they provide to traders.

What Is an ECN Broker?
ECN brokers act as intermediaries, directly linking traders to banks and liquidity providers for efficient and transparent execution of trades. An ECN broker consolidates buy and sell orders from different participants and collates them electronically.

With direct market access, traders gain entry to the global market, facilitating instant execution and enhancing trading precision. The absence of a dealing desk fosters neutrality, allowing trades to be executed without bias or conflict of interest. As a result, ECN trading provides optimal buy and sell prices and tight spreads, but ECN brokers still charge transaction fees that may increase overall costs.

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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.

Netflix (NFLX) Share Price Reaches Record High



According to the charts, Netflix (NFLX) shares have risen above $1,170 – the highest level in the company’s history. Since the start of 2025, the price of NFLX stock has increased by approximately 33%, while the S&P 500 index (US SPX 500 mini on FXOpen) remains close to its opening levels from 2 January.
Why Is Netflix (NFLX) Performing Strongly?
A month ago, we highlighted several factors contributing to NFLX’s outperformance relative to the broader stock market. Among them is the fact that Netflix does not offer tradable goods subject to tariffs in trade wars. As a result, the company could potentially benefit from an economic downturn if consumers spend more time at home.
According to recent reports:
→ Netflix has announced that 94 million subscribers are now using its low-cost ad-supported plan – a figure more than a third higher than the 70 million reported in November.
→ The company also forecasts that advertising revenue will double this 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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Gold and WTI Crude Oil Prices Target Fresh Gains


Gold price started a fresh increase above the $3,210 resistance level. WTI Crude oil prices are gaining bullish momentum and might even test $63.50.
Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today

 

1. Gold price started a steady increase from the $3,120 zone against the US Dollar.
2. A connecting bullish trend line is forming with support at $3,210 on the hourly chart of gold at FXOpen.
3. WTI Crude climbed above the $60.90 and $61.50 resistance levels.
4. There is a key rising channel forming with support at $61.30 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price found support near the $3,120 zone. The price formed a base and started a fresh increase above the $3,150 level.
The bulls cleared the $3,200 zone and the 50-hour simple moving average. There was also a spike above the 50% Fib retracement level of the downward move from the $3,347 swing high to the $3,120 low. The RSI is now above 50 and the price could aim for more gains.
Immediate resistance is near the 61.8% Fib retracement level of the downward move from the $3,347 swing high to the $3,120 low at $3,260.
The next major resistance is near the $3,295 level. An upside break above the $3,295 resistance could send Gold price toward $3,350. Any more gains may perhaps set the pace for an increase toward the $3,385 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. a

S&P 500 Falls Following Downgrade of US Credit Rating


On Friday, 16 May, after markets had closed, Moody’s Ratings announced a downgrade of the long-term sovereign credit rating of the United States from the highest level of Aaa to Aa1. The key reasons cited by Moody’s were the rising national debt and interest payments, as well as expectations of a further increase in the budget deficit. Notably:

→ The downgrade was hardly a surprise. A similar move was made by Standard & Poor’s back in 2011, while Fitch Ratings followed suit in August 2023.
→ The official response may be seen as reassuring for market participants. US Treasury Secretary Scott Bessent played down concerns about the downgrade in an interview with NBC News, calling credit ratings “lagging indicators” and placing the blame on the previous administration.
→ Despite the downgrade, Moody’s acknowledged the US dollar’s role as the world’s reserve currency and stated that the United States “retains exceptional credit strengths, such as the size, resilience, and dynamism of its economy.”

Stock Market Reaction
The announcement triggered a negative market reaction, reflected in falling prices during Monday morning’s opening session. E-mini S&P 500 futures (US SPX 500 mini on FXOpen) retreated, as indicated by the arrow on the chart, pulling back from the highs reached by Friday’s close.
Last week, we pointed out signs of slowing momentum in the S&P 500 rally. Could the decline continue further?


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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.

Analysing the Spike in Volatility on the Walmart (WMT) Share Price Chart


On Thursday, the US retail giant reported its quarterly results — which turned out to be broadly better than expected. While total revenue was roughly in line with analysts’ forecasts, earnings per share came in higher at $0.61 versus the expected $0.57.

At the same time, Walmart CEO Doug McMillon stated on Thursday:

"We will do everything we can to keep our prices as low as possible. But given the scale of the tariffs, even at reduced levels, we won't be able to absorb all the pressure, considering the reality of tight retail margins."
This statement may have raised concerns among market participants about the company’s future earnings, contributing to Friday’s drop in the share price to $92.
It also drew the attention of the US President. On Saturday, Donald Trump said that Walmart (WMT) should “swallow the tariffs” instead of blaming them and raising prices.

In response, Walmart reiterated that it will keep prices as low as possible for as long as it can — which has always been the company’s approach.


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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 Stock Tape Reading, and How Do Traders Use It?



Tape reading is a real-time market analysis method used to track buying and selling pressure. Unlike technical indicators, which rely on historical data, tape reading focuses on executed trades, order flow, and liquidity shifts. Traders use it to assess momentum, identify institutional activity, and refine trade timing. This article explores how tape reading works, its role in modern markets, and how traders apply it to short-term decision-making.

The Origins and Evolution of Tape Reading
Tape reading began in the late 19th century when stock prices were transmitted via ticker tape machines, printing a continuous stream of price updates on paper strips. Traders would gather around these machines, scanning for large trades and unusual activity to anticipate market moves. One of the earliest and most well-known tape readers, Jesse Livermore, built his fortune by studying these price changes and spotting institutional buying and selling patterns.
By the mid-20th century, as markets became faster and more complex, ticker tape machines were replaced by electronic order books. Instead of scanning printed numbers, traders began using Level 2 market data and time & sales windows to track order flow in real time. This transition allowed for more precise liquidity analysis, making it easier to see how large orders impacted 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.

Market Insights with Gary Thomson: 19 - 23 May


Market Insights with Gary Thomson: RBA Rate Decision, Canada & UK Inflation Rate, Earnings Reports
In this video, we’ll explore the key economic events, market trends, and corporate news shaping the financial landscape. Get ready for expert insights into forex, commodities, and stocks to help you navigate the week ahead. Let’s dive in!
In this episode, we discuss:
— RBA’s Interest Rate Decision
— Inflation Rate in Canada
— Inflation Rate in the UK
— Corporate Earnings Statements

Don’t miss out—gain insights to stay ahead in your trading journey.

Watch YOUTUBE 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.

Disclaimer: This video represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Analytical Gold Price Forecasts for 2025, 2026, 2027, and Beyond



Gold has long been viewed as a so-called safe-haven asset, especially during times of economic uncertainty, inflation, and geopolitical tension. As global markets continue to face shifting monetary policies, global trade tensions, and geopolitical risks, analysing the future price of gold becomes increasingly important for market participants. In this article, we take a deep dive into the historical performance of gold, examine the key factors influencing its value, and present analytical forecasts for 2025, 2026, 2027, and beyond.

Gold Price History
Gold has been a cornerstone of economic systems and wealth preservation for millennia. Revered for its scarcity and intrinsic value, the precious metal has been used as a form of currency, a symbol of wealth, and a reserve asset across different civilisations. Its unique qualities, such as durability and resistance to corrosion, have made it a preferred choice for monetary systems until the modern era introduced fiat currencies.

In the 20th century, gold retained its prominence through the establishment of the gold standard, where currencies were directly linked to gold reserves. Although this system was eventually abandoned, gold has continued to play a significant role as a store of value and a hedge against economic uncertainties, maintaining its relevance in global markets.

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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.

RBA Cuts Rates. AUD Declines



Today, the Reserve Bank of Australia (RBA) decided to cut the interest rate from 4.10% to 3.85%, continuing its easing policy after a previous cut from 4.35% in February.
According to Reuters, the RBA today cited:
→ progress made in bringing inflation under control;
→ economic risks linked to the ongoing global trade war.
Although the RBA’s decision was widely expected, the Australian dollar weakened noticeably against other currencies — including the New Zealand dollar. The AUD/NZD rate fell to its lowest level in nearly two weeks.




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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.

UnitedHealth (UNH) Share Price Rebounds


A month ago, in our analysis of the UNH chart, we:
→ highlighted that UnitedHealth shares had lost nearly 23% in value;
→ drew a descending channel and suggested that bearish pressure could continue, threatening the support level around $450, which had held since early 2022.

Since then, UNH’s stock price decisively broke below that level (as marked by the arrow), falling to around $250 — its lowest point since spring 2020 — before staging a sharp rebound. This steep price movement was driven by a series of fundamental developments, including:
→ the resignation of the CEO and news of a Department of Justice investigation into potential Medicare fraud;
→ UnitedHealth withdrawing its earnings guidance for the coming year;
→ political debates over the Medicaid programme as part of the 2025 budget negotiations;
→ President Trump’s directive to cut prescription drug prices.

Recent news that the new CEO and several top executives have bought tens of millions of dollars’ worth of UNH shares appears to have renewed investor confidence — the share price rose above the $300 mark yesterday.


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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.

Who Is a Bag Holder in Stocks and Crypto?



A bag holder is a trader or investor who holds onto a losing asset, refusing to get rid of it despite clear signs of failing. This often happens due to emotional attachment, false hope, or ignoring market signals. Understanding how market participants become bag holders—and how to avoid it—can help prevent unfavourable outcomes.
This article answers the question, “What is a bag holder in stocks and crypto?”, along with the causes, psychological traps, and market conditions that lead to bag holding, and strategies to avoid it.

Who Is a Bag Holder
A bag holder is an investor or trader stuck holding an asset that has plummeted in value, often because they refused to get rid of it when warning signs appeared. The term comes from the idea of being left “holding the bag” while others have already exited.

This may happen when a trader buys at high prices, expecting further gains, only for momentum to reverse. Instead of cutting losses, they hold on, hoping for a recovery that never comes. Some bag holders double down, buying more as prices fall, believing they’re getting a bargain—only to watch their losses grow.

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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.

EUR/USD Regains Pace While USD/JPY Dips Further


EUR/USD started a decent upward move above the 1.1225 resistance. USD/JPY declined below 144.50 and is currently consolidating losses.

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

 

1. The Euro found support and started a recovery wave above the 1.1250 resistance zone.
2. There is a connecting bullish trend line forming with support at 1.1280 on the hourly chart of EUR/USD at FXOpen.
3. USD/JPY is trading in a bearish zone below the 146.10 and 144.90 levels.
4. There is a short-term bearish trend line forming with resistance at 144.25 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 1.1135 zone. The Euro climbed above the 1.1200 resistance zone against the US Dollar.
The pair even settled above the 1.1225 resistance and the 50-hour simple moving average. Finally, it tested the 1.1340 resistance. A high is formed near 1.1339 and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward move from the 1.1223 swing low to the 1.1339 high.
Immediate support is near the 1.1310 level. The next major support is at 1.1280. There is also a connecting bullish trend line forming with support at 1.1280 and the 50% Fib retracement level of the upward move from the 1.1223 swing low to the 1.1339 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.