Daily Market Analysis By FXOpen

What Is the Evening Star Candlestick Pattern, and How Can You Use It in Trading?


Candlestick patterns offer traders a way to read price action and spot potential changes in momentum. One notable pattern is the evening star, a three-candle formation that signals the start of a possible downtrend. This article breaks down what the evening star looks like, how it works, and how traders typically use it.

What Is the Evening Star Candlestick Pattern?
The evening star is a three-candle pattern that traders watch for after a strong upward move. It’s considered a bearish reversal pattern, signalling that bullish momentum is fading. The setup consists of three candles:

1. The first candle is a large bullish candle—it shows a clear upward direction.
2. The second is much smaller. This middle candle—the star—reflects hesitation. Buyers and sellers are more balanced, and the market’s pace slows.
3. The third candle acts as confirmation. It’s a solid bearish candle that closes deep into the body of the first.

The middle candle also often gaps up from the first, especially in stocks or indices, but gaps aren’t essential. What matters is the sequence: strength, indecision, reversal. The further the final candle closes into the body of the first, the stronger the pattern is considered.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

Market Insights with Gary Thomson: 14 - 18 July


Market Insights with Gary Thomson: Inflation Rate in Canada, US, and UK, US PPI, 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 of Market Insights, Gary Thomson unpacks the strategic implications of the week’s most critical events driving global markets.
Key topics covered in this episode:
— Inflation Rate in Canada
— US Inflation Rate
— UK Inflation Rate
— US Producer Price Index
— 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.

How Do Traders Use the Pivot Points Indicator?


Pivot points are a popular technical analysis tool for spotting areas where the price is expected to react, i.e. pause or reverse. Calculated using the previous day’s high, low, and close, they’re projected onto the current session to highlight potential support and resistance levels, especially useful for intraday traders.
Alongside stock charts, pivot point levels can be used in a wide variety of markets, including forex, commodities, and cryptocurrencies*. As a versatile indicator, pivot points also come in many different types. This article breaks down the definition of pivot points, the variations traders use, and how they can fit into a broader trading strategy.

A Deeper Look at Pivot Points
A common question in technical analysis is, “What is a pivot point?” Pivot points trading, or pivot point theory, is a popular technical analysis concept used in a range of financial asset classes, including stocks, currencies, cryptocurrencies*, and commodities. The indicator assists traders in gauging overall market trends and determining possible support and resistance barriers.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

GBP/USD Rate Falls to Key Support Level


As of today, the GBP/USD chart indicates that the British pound has declined by more than 2% against the US dollar since the beginning of July. Notably, the pace of the decline accelerated on Friday and continued into Monday.
According to Reuters, the pound is under pressure due to market concerns over a potential economic slowdown amid an escalating trade war. Last week’s data confirmed a contraction in UK GDP, which could have far-reaching implications. In this context, criticism of the UK government’s failure to reduce public spending is becoming more pronounced.
What’s next for GBP/USD?




TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

Equity Markets Ahead of the US Inflation Report


Today at 15:30 GMT+3, the US inflation report (Consumer Price Index, or CPI) is scheduled for release. According to ForexFactory, analysts expect the inflation rate to rise from 2.4% to 2.6%.
The actual figures will provide market participants with grounds to debate not only the likelihood of a Federal Reserve rate cut, but also the evolving tensions between Donald Trump and Jerome Powell.
Should the report deliver any surprises, it will almost certainly trigger heightened volatility across the equity markets. For now, however, investors are seemingly optimistic about the upcoming fundamental data — especially given the commencement of Q2 earnings season, which lends additional weight to today’s macroeconomic indicators.



TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

A Closer Look at the Role and Recent Volatility of the US Dollar Index (DXY)


The US Dollar Index (DXY) is now available to trade via CFDs at FXOpen. We don’t even need to say that it’s one of the most influential benchmarks in global currency markets. The index, which measures the value of the US dollar against a basket of six major currencies, experiences heightened volatility and presents potential opportunity.

Understanding the DXY: A Macro Lens on the Dollar

The DXY tracks the relative strength of the US dollar versus a weighted currency basket including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. Although the euro comprises nearly 58% of the index, the DXY reflects broad USD strength or weakness across global markets, not just against a single currency.

Traders and analysts use the DXY as a key macro indicator—to track policy divergence between central banks, to hedge USD exposure, and to assess broader market sentiment. Rising DXY levels often signal tightening US policy or global risk aversion, while declines may reflect weakening growth expectations, dovish Fed policy, or geopolitical stress. In volatile environments like 2025, the DXY serves as a real-time barometer of global confidence in the US economy and dollar-based assets.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

European Currencies Test Key Support Levels


European currencies have temporarily stabilised following a phase of downward correction, as markets await the release of key economic data. In the absence of new strong catalysts, the market has adopted a wait-and-see approach near critical support levels — 1.3400 for GBP/USD and 1.1600 for EUR/USD. Investors' attention is firmly focused on inflation figures, which may either support a resumption of recent bullish trends or serve as a trigger for a deeper correction.
Today, market participants are closely monitoring UK inflation data. In the coming trading sessions, investors are also expecting a batch of macroeconomic releases from the eurozone, including Italy’s CPI and trade balance figures — these could help define the short-term trajectory of the EUR/USD pair.
Amid uncertainty, investors continue to price in a potential correction in the US dollar. At the same time, the persistent divergence between the Federal Reserve and European regulators remains a key factor shaping the trend in major currency pairs.

GBP/USD

The GBP/USD pair tested the important support level near 1.3400 yesterday. Technical analysis of GBP/USD suggests a continuation of the downward correction within the formation of a Tower pattern. Should there be a sharp rebound from the 1.3300–1.3340 zone, the price may return to the 1.3470–1.3500 range.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

EUR/USD Analysis: US Dollar Strengthens Following Inflation Report


Yesterday, the US Consumer Price Index (CPI) report was released, showing an increase in consumer prices. According to Forex Factory, annual CPI rose from 2.4% to 2.7%, exceeding analysts' expectations of a 2.6% rise.
As reported by Reuters, the data supports the stance of Federal Reserve Chair Jerome Powell, who has repeatedly stated that the anticipated inflationary pressure—driven in part by tariffs—is a reason to refrain from further interest rate cuts.
However, President Donald Trump interpreted the data differently. On his Truth Social platform, he posted that consumer prices remain low and called for an immediate rate cut.
The market responded with a stronger US dollar—indicating that participants believe interest rates are likely to remain at current levels in the near term. Notably, the EUR/USD exchange rate fell to the 1.1600 level for the first time since late June (as indicated by the arrow).


TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

Nvidia (NVDA) Share Price Surges Above $170


Yesterday, Nvidia’s (NVDA) share price rose by more than 4%, with the following developments:
→ It surpassed the psychological level of $170 per share;
→ Reached another all-time high;
→ Gained more than 9% since the beginning of the month.
The bullish sentiment is driven by Nvidia CEO Jensen Huang’s visit to China shortly after meeting with US President Trump. At the same time:
→ US Secretary of Commerce Howard Lutnick stated that the planned resumption of sales of Nvidia H20 AI chips in China is part of the US negotiations on rare earth metals.
→ The head of Nvidia stated that he was assured licences would be granted very quickly, and that a large number of orders for H20 chip deliveries had already been received from Chinese companies.
Market participants are viewing the situation with strong optimism, and analysts are raising their valuations for NVDA shares:
→ Morningstar analysts raised their fair value estimate for Nvidia shares from $140 to $170.
→ Oppenheimer analysts increased their target price from $170 to $200.


TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

Market Analysis: EUR/USD Pares Gains while USD/JPY Rises


EUR/USD declined from the 1.1750 resistance and traded below 1.1650. USD/JPY is rising and might gain pace above the 149.20 resistance.
Important Takeaways for EUR/USD and USD/JPY Analysis Today

 

1. The Euro started a fresh decline after a strong surge above the 1.1720 zone.
2. There is a connecting bearish trend line forming with resistance at 1.1660 on the hourly chart of EUR/USD at FXOpen.
3. USD/JPY climbed higher above the 147.50 and 148.40 levels.
4. There is a key bullish trend line forming with support at 148.40 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair rallied above the 1.1720 resistance zone before the bears appeared, as discussed in the previous analysis. The Euro started a fresh decline and traded below the 1.1660 support zone against the US Dollar.
The pair declined below 1.1620 and tested 1.1590. A low was formed near 1.1592 and the pair started a consolidation phase. There was a minor recovery wave above the 1.1610 level.

EUR/USD is now trading below the 50-hour simple moving average. On the upside, it is now facing resistance near the 1.1630 level. It is close to the 23.6% Fib retracement level of the downward move from the 1.1749 swing high to the 1.1592 low.
The next key resistance is at 1.1660 and the 50% Fib retracement level. There is also a connecting bearish trend line forming with resistance at 1.1660.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

How to Use Correlations in Trading


n the dynamic world of trading, utilising correlations can be a valuable tool for traders. This article explores the concept of correlations and their significance in forex trading. Additionally, we discuss some practical applications for trading with correlations, emphasising the importance of staying informed and managing risk in the ever-evolving financial landscape.

Measuring Currency Correlation in Forex Trading
In the context of forex trading, correlation refers to the extent to which two currency pairs move in relation to each other. Positively correlated currency pairs would rise or fall together, while negatively correlated ones would move in different directions. Traders have various methods at their disposal to gauge the correlation level, each with its own set of advantages and drawbacks.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

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

How Can You Spot Intermarket Correlations?


In the world of trading, understanding intermarket correlations can be an essential skill for making informed decisions. These correlations are broadly categorised depending on the asset type definition, offering unique trading opportunities. In this article, we will help you grasp the significance of that concept for more effective decision-making and risk management.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

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

Pause in Dollar Rally: Weak Data and Powell Dismissal Rumours


Amid rising market volatility, the US dollar is losing ground: USD/JPY is correcting after a recent bullish impulse, while USD/CAD is retreating from the upper boundary of its medium-term sideways range. This corrective movement was triggered by disappointing US producer price index (PPI) data and speculation surrounding a potential dismissal of Federal Reserve Chair Jerome Powell—rumours later denied by Donald Trump.

Yesterday's US macroeconomic data underperformed expectations: the core PPI was flat month-on-month (forecast: +0.2%), while the annual reading slowed to 2.6% versus the expected 2.7%. The headline PPI also showed weakness, fuelling speculation that the Federal Reserve might accelerate its easing cycle if producer price pressures continue to weaken.

Market participants also reacted to a brief spike in volatility following unconfirmed reports that Powell could be removed from office. Although the rumour was quickly debunked, the episode has contributed to lingering unease in the dollar-denominated asset segment.
In the near term, traders’ attention is shifting towards today’s US labour market data, which could shape the dollar's direction for the remainder of the week.

USD/JPY

After updating its May highs, USD/JPY sharply pulled back and is currently trading near the 148.00 level. Technical analysis suggests the potential for a deeper correction, as a bearish engulfing pattern has formed on the daily timeframe. However, if recent highs are breached again, the pair may resume its rally towards the 150.00–151.00 range.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

XAU/USD Chart Analysis: Volatility at a Yearly Low


The daily chart of XAU/USD shows that the Average Directional Index (ADX) has reached its lowest level since the beginning of 2025, indicating a significant decline in gold price volatility.
Yesterday’s release of the US Producer Price Index (PPI) initially triggered a sharp spike in gold prices, but the gains were short-lived, with the price quickly reverting to previous levels. This price action aligns with a broader market narrative of equilibrium—where supply and demand are in relative balance, and the market appears to be efficiently pricing in key influencing factors, including geopolitical tensions and tariff-related developments.
However, this fragile balance may soon be disrupted.


TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

How Earnings Reporting Could Impact Netflix (NFLX) Share Price


Earnings season is gaining momentum. Today, after the close of the main trading session, Netflix (NFLX) is set to release its quarterly financial results.
Analysts are optimistic, forecasting earnings per share (EPS) of $7.08, up from $4.88 a year earlier, and revenue growth to $11.1 billion.
The upbeat sentiment is driven by:
→ the fact that Netflix’s business model is relatively resilient to tariff-related pressures;
→ the company’s success in curbing password sharing and promoting a more affordable ad-supported subscription tier.

Netflix has reported revenue growth for six consecutive quarters, outperforming competitors such as Disney, Amazon, and Apple. Its market share has climbed to 8.3%, with YouTube remaining its only serious rival—YouTube's share increased from 9.9% a year ago to 12.8% in June, according to Nielsen. If current trends hold, this reporting quarter could mark another strong performance for Netflix.
However, is the outlook truly that bullish?


TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

Four of the Best Forex Trading Strategies


Navigating the world of forex trading can be a challenging endeavour. Success often hinges on the right strategy, and this article aims to demystify some of the best forex trading strategies across various market conditions. Read on to find tailored approaches for trend, range, scalping, and news trading.
For the best understanding of how they work, consider following along with FXOpen’s free TickTrader platform. There, you’ll find the charts and trading tools necessary to execute these strategies successfully.

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

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

PepsiCo (PEP) Stock Rallies 7.4% Following Earnings Report – What Comes Next?


Yesterday, PepsiCo Inc. (PEP) released its quarterly earnings report, which significantly exceeded market expectations:
→ Earnings per share (EPS) came in at $2.12, surpassing the forecast of $2.02.
→ Gross revenue reached $22.7 billion, above the projected $22.3 billion.
In addition, PepsiCo reaffirmed its full-year guidance: the company expects earnings per share to remain virtually unchanged compared to the previous year, while organic revenue is anticipated to grow by a few percentage points.
Executives also outlined development plans for their brand portfolio, emphasising a focus on the growing demand for healthier snacks and a strategic initiative to reduce costs.
These factors contributed to PepsiCo Inc. (PEP) becoming one of the top-performing stocks on the market yesterday – its price surged by 7.4%, reflecting strong investor sentiment. What could come next?



TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

US Dollar Index (DXY) Chart Analysis


The addition of the US Dollar Index (DXY) to FXOpen’s suite of instruments offers traders potential opportunities. This financial instrument:
→ serves as a measure of the overall strength of the US dollar;
→ is not tied to a single currency pair but reflects the value of the USD against a basket of six major global currencies, including the EUR, JPY, and GBP;
→ allows traders to capitalise on price fluctuations in the currency market;
→ is used in more advanced strategies for hedging risks in portfolios sensitive to sharp movements in the US dollar.
In today’s environment of heightened volatility, this instrument becomes particularly valuable. The active stance of US President Donald Trump — through the implementation of trade tariffs, sanctions, and unpredictable geopolitical rhetoric — gives traders even more reason to closely monitor the DXY chart.


TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

Market Analysis: GBP/USD Dips Further While USD/CAD Consolidates Gains


GBP/USD started a downside correction from the 1.3620 zone. USD/CAD declined and now consolidates below the 1.3750 level.
Important Takeaways for GBP/USD and USD/CAD Analysis Today

 

1. The British Pound started a fresh decline and settled below the 1.3500 zone.
2. There is a connecting bullish trend line forming with support at 1.3415 on the hourly chart of GBP/USD at FXOpen.
3. USD/CAD started a fresh decline after it failed to clear the 1.3775 resistance.
4. There is a key bullish trend line forming with support at 1.3715 on the hourly chart at FXOpen.

GBP/USD Technical Analysis

On the hourly chart of GBP/USD at FXOpen, the pair struggled above the 1.3600 zone. The British Pound started a fresh decline below the 1.3550 pivot level against the US Dollar, as discussed in the previous analysis.

The pair dipped below the 1.3500 and 1.3450 levels. A low was formed at 1.3364 and the pair is now consolidating losses. On the upside, it is facing resistance near the 1.3475 level. The next key resistance is near 1.3490 and the 50% Fib retracement level of the downward move from the 1.3619 swing high to the 1.3364 low.
An upside break above the 1.3490 zone could send the pair toward 1.3520 and the 61.8% Fib retracement level.
More gains might open the doors for a test of 1.3620. If there is another decline, the pair could find support near the 1.3415 level and a connecting bullish trend line. The first major support sits near the 1.3365 zone.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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

Nasdaq 100: Market Optimism Builds Ahead of Big Tech Earnings


The earnings season is gaining momentum. This week, major technology companies such as Alphabet (GOOGL) and Tesla (TSLA) are scheduled to release their quarterly results.
Given that 85% of the 53 S&P 500 companies that have already reported have exceeded analysts’ expectations, it is reasonable to assume that market participants are also anticipating strong results from the big tech names. The Nasdaq 100 index (US Tech 100 mini on FXOpen) set an all-time high last week — a level that may be surpassed (potentially more than once) before the end of August.


TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

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