Daily Market Analysis By FXOpen

Market Analysis: GBP/USD Dips Again While EUR/GBP Holds Support



GBP/USD failed to climb above 1.3500 and corrected some gains. EUR/GBP started a decent increase and might aim for more gains above 0.8710.

Important Takeaways for GBP/USD and EUR/GBP Analysis Today
- The British Pound is showing bearish signs below the 1.3400 support.
- There is a key bearish trend line forming with resistance near 1.3370 on the hourly chart of GBP/USD at FXOpen.
- EUR/GBP is gaining pace and trading above the 0.8700 handle.
- There is a connecting bullish trend line forming with support at 0.8695 on the hourly chart at FXOpen.

GBP/USD Technical Analysis



On the hourly chart of GBP/USD at FXOpen, the pair failed to stay above the 1.3450 pivot level. As a result, the British Pound started a fresh decline below 1.3420 against the US Dollar.
There was a clear move below 1.3400 and the 50-hour simple moving average. The bears pushed the pair below 1.3300. Finally, there was a spike below the 1.3280 support zone. A low was formed near 1.3261 and the pair is now consolidating losses.

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Top 10 Currencies That Are Considered the Strongest in Asia


Asia is home to some of the world’s most powerful economies, and this strength is reflected in many Asian countries’ currencies. From oil-rich Gulf states to financial hubs like Singapore, the region hosts a diverse mix of currencies that stand out in global markets. These currencies highlight the economic environment, fiscal discipline, and the influence of natural resources.

In this article, we look at the top ten currencies considered the most valuable in Asia and the reasons behind their resilience.

The List of Top 10 Currencies That Are Considered the Strongest in Asia
The currency rate of Asian countries offers insight into their economic health, showing how each nation’s money trades internationally. Stronger currencies typically reflect economic health, resource wealth, or advanced financial systems, while weaker ones may reveal structural challenges.
Below, we present a list of Asian currencies ranked by their value against the US dollar. Using the dollar as the global benchmark allows for clear comparisons between what are seen as Asia’s top 10 currencies.

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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.

Silver Price Reaches Record High


The previous peak was set in 1980, but this week the price of silver rose above $53 for the first time ever, as shown on the XAG/USD chart.
Bullish sentiment has been driven by political factors, sustained demand from central banks, and the metal’s growing use in modern industries such as renewable energy.
Meanwhile, media reports are adding to the sense of market frenzy, noting:
→ shortages in physical supply;
→ forced liquidation of short positions (the “short squeeze” effect);
→ bold analyst forecasts — with a CNBC survey suggesting silver could double from current levels to reach $100.


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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.

Commodity Currencies Weaken Amid Escalating Trade Tensions


The Australian and Canadian dollars weakened after Donald Trump announced plans to impose 100% tariffs on Chinese goods. The escalation in trade tensions between the world’s two largest economies has increased market caution and weighed on risk-sensitive currencies.
Trump stated that the tariffs would come into effect from 1 November or sooner, depending on Beijing’s response. The announcement followed China’s decision to restrict exports of rare earth metals — a move that fuelled concerns over the stability of global supply chains.
Although Trump later expressed optimism about a “constructive dialogue” with China, markets interpreted his remarks as a signal for heightened volatility.
This week, traders’ focus will remain on further comments from Washington and Beijing, as well as on oil price movements, which continue to be a key driver for USD/CAD. Any softening of rhetoric could support a recovery in commodity currencies, but if the US maintains a hard line, downward pressure on the AUD and CAD may intensify.
USD/CAD

News of the proposed tariffs prompted USD/CAD to break out of its medium-term range between 1.3930 and 1.3970. The pair not only pierced the upper boundary but also consolidated above the key psychological resistance level of 1.4000.

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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.

Broadcom (AVGO) Shares Surge Nearly 10% on OpenAI Partnership News


Last month, news of a partnership with OpenAI served as a powerful bullish catalyst for NVIDIA (NVDA) shares. In October, a similar effect can be seen on the Broadcom (AVGO) chart.
According to media reports, the two companies have been collaborating for 18 months but are now making their partnership public. Their plans for 2026 include launching chip racks developed by OpenAI and based on Broadcom technology.
The rally in AVGO shares was further supported by:
→ President Trump’s conciliatory tone following his earlier remarks about imposing 100% tariffs on Chinese goods;
→ the prospect of a meeting between the Chinese and US leaders in South Korea at the end of October, as announced by US Treasury Secretary Scott Bessent.


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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.

Ascending Channels: Key Characteristics and Trading Applications


Recurring market structures are one of the critical parts of technical analysis. The ascending channel is a classic pattern that reflects steady upward movement. In this article, we break down the structure of ascending channels, their trading implications, and how traders may use them to identify price direction.

What Is an Ascending Channel Pattern?
An ascending channel is a common pattern on price charts. Also known as a rising channel pattern or an upward channel pattern, this formation can be found primarily in the uptrend. It is characterised by two parallel lines. As the price of an asset moves higher over time, these two lines are formed by connecting higher highs and lows, creating boundaries that the price interacts with.

According to the theory, ascending channels mark a period of consolidation in a bullish trend, after which an upward breakout is expected to occur. However, a breakdown may happen. Also, in some cases, we can see the pattern in a downtrend, where the price can also break out in any direction.

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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 Order Imbalance Is and How It May Be Applied in Trading


Grasping the dynamics of order imbalances may help traders interpret shifts in asset prices. By highlighting the real-time tug-of-war between supply and demand, order imbalances offer valuable market insights. In this article, we explore what drives these imbalances and outline a practical approach within the framework of a trading strategy.

Understanding Order Imbalances
Order imbalance, a fundamental concept in forex, crypto*, commodity, and stock markets, refers to a situation where there is a disproportionate number of buy or sell orders for a particular asset. This imbalance of orders can significantly influence asset prices, pushing them up or down depending on the direction of the imbalance. Known also as fair value gaps, they offer a window into the underlying supply and demand dynamics shaping the market at any given moment.
A market imbalance occurs when there's an overwhelming interest from buyers (buy-side imbalance) or sellers (sell-side imbalance) without enough opposite-side orders to match. This scenario typically reflects the market participants' consensus about the asset's future direction.

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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.

Hidden Divergence Vs Regular Divergence: Basics and Examples


Divergence is a popular tool for spotting potential shifts in market direction. While the general principles for identifying divergence are straightforward, distinguishing between regular and hidden forms can be more complex. In this article, we outline the main differences between regular and hidden divergence and demonstrate how traders may interpret their signals using practical examples.

What Is Divergence?
In technical analysis, the term divergence has two meanings. You may have heard of the MACD indicator. It’s an abbreviation for Moving Average Convergence Divergence. In this case, divergence stands for the movement of two lines relative to each other – they move away from each other. Convergence occurs when the lines move closer together.
The second meaning relates to the topic we will discuss in this article – how the price and the indicator relate to each other. Traders look for divergence between the price and an oscillator, like the relative strength index, stochastic, awesome oscillator, or MACD. It occurs when the market forms an extreme high or low, but the indicator doesn’t follow.

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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 Corrects Gains


EUR/USD is recovering losses from 1.1540. USD/JPY is correcting gains from 153.20 and might decline further below 151.00.
Important Takeaways for EUR/USD and USD/JPY Analysis Today
- The Euro struggled to stay in a positive zone and declined below 1.1650 before finding support.
- There was a break above a connecting bearish trend line with resistance at 1.1590 on the hourly chart of EUR/USD at FXOpen.
- USD/JPY rallied significantly before the bears appeared near 153.20.
- There is a major bearish trend line forming with resistance near 151.55 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 1.1720. The Euro declined below 1.1650 and 1.1600 against the US Dollar.
The pair even declined below 1.1565 and the 50-hour simple moving average. Finally, it tested the 1.1540 zone. A low was formed at 1.1541, and the pair is now recovering losses. There was a move above 1.1600 and a connecting bearish trend line at 1.1590.

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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 Falls from Above $4,200


The XAU/USD chart shows that gold recently climbed above the $4,200 mark for the first time. The upward momentum has been supported by the ongoing US government shutdown, central bank demand (with reports highlighting a sharp rise in reserves at the Reserve Bank of India), and market focus on US–China trade developments.
According to Trading Economics, on Tuesday President Donald Trump accused China of “economically hostile” behaviour, citing a halt in soybean imports, and warned of potential retaliatory measures.


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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 Structure Shift (MSS) in ICT Trading: the Concept and Application


In ICT (Inner Circle Trader) methodology, Market Structure Shifts (MSS) provide a framework for understanding how price action evolves. Recognising these shifts may help traders identify potential turning points in trends and build strategies. This article explains the role of MSS, its signals, and how it connects with concepts such as Breaks of Structure and Changes of Character.

Breaks of Structure and Change of Character: Starting with the Basics
Comprehending the dynamics of Breaks of Structure (BOS) and Change of Character (CHoCH) can be crucial for analysing market trends. A Break of Structure occurs when price levels move beyond established support or resistance areas, indicating a potential continuation or acceleration of the current trend. For example, in an uptrend, a BOS is identified when prices break above a previous resistance level, suggesting further upward movement.

Conversely, a Change of Character signifies a possible shift in the market's direction. This occurs when the price action breaks against the prevailing trend, challenging the recent high or low points that served as market barriers. A CHoCH often raises a red flag about the sustainability of the current trend. For instance, in a sustained uptrend, a CHoCH would be marked by a significant downward breach that violates a previous low point, hinting at a weakening of bullish momentum.

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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.

Triangle Pattern: Construction Rules and Trading Strategies


Markets often pause before making their next significant move, and triangle patterns are one of the signs of this consolidation. By studying symmetrical, ascending, and descending triangles, traders may anticipate breakouts and plan entries or exits. This article explains how traders construct these patterns and incorporate them into their trading strategy.

What Are Triangle Chart Patterns?
Triangle chart patterns are a common technical analysis tool used to understand price movements in financial markets. These patterns form when the price of an asset moves within two converging trendlines, creating a triangle shape on a chart. The lines represent support and resistance levels, and as they get closer together, it signals a potential breakout in one direction.

Symmetrical, ascending, and descending are three types of triangle patterns. Each of these patterns reflects a different market sentiment, with symmetrical triangles showing indecision, ascending triangles suggesting a bullish bias, and descending triangles hinting at bearish momentum. These formations are considered useful because they may help traders spot potential breakouts, where the price might move sharply up or down after a period of consolidation.

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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.

Euro and Pound Rebound Ahead of Key Data Releases


The euro and the pound have found some support after a series of declines, although neither has yet managed to break convincingly above key resistance levels. The market remains in anticipation of fresh fundamental signals that could confirm or challenge a potential trend reversal.

Traders’ focus is now on forthcoming UK economic reports, including GDP, industrial production, and trade balance data. In the euro area, attention will turn to figures on the trade balance and Italian inflation, as well as the Bundesbank’s monthly report. The upcoming IMF meeting is also likely to attract interest.

During the US session, markets will be watching construction and manufacturing data from the Philadelphia Fed. These figures could influence the dollar’s direction and set the tone for the remainder of the trading week. The market remains highly sensitive to macroeconomic developments: upbeat data from Europe or the UK could support the euro and sterling, while strong US figures may restore pressure on European currencies.
GBP/USD

For GBP/USD, the technical outlook remains mixed. As expected, the pair continued its downtrend early in the week, testing the 1.3300–1.3330 range and posting a new October low at 1.3260. On the H4 timeframe, a “bullish engulfing” pattern has formed.
Technical analysis of GBP/USD suggests potential upside towards 1.3450–1.3490. If buyers fail to defend the 1.3330–1.3360 support area, a retest of recent lows cannot be ruled out.

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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/CHF Falls to Two-Week Low


This morning, the USD/CHF exchange rate slipped below 0.7944 for the first time since 1 October, as demand for safe-haven assets intensified — a trend also reflected in yesterday’s record gold price above $4,200.
The traditionally stable Swiss franc is strengthening amid rising global uncertainty and risk aversion:
→ In Japan, the upcoming prime ministerial election could significantly impact monetary policy, while France faces ongoing political turmoil.
→ In the United States, the government shutdown continues, and traders are closely watching developments around a potential trade deal with China, possibly to be discussed during an expected meeting between the two countries’ leaders.


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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.

Earnings Season Kicks Off with Strong Bank Results



On 3 October, we noted growing optimism in equity markets ahead of the corporate earnings season. That sentiment was validated yesterday as several major banks reported results that exceeded analysts’ expectations, helping the S&P 500 index (US SPX 500 mini on FXOpen) rebound from last Friday’s sell-off.
Morgan Stanley (MS) led the rally, with its shares hitting a new all-time high above $166 following a robust quarterly report:
→ Revenue surged to a record $18.2 billion, up 18% year-on-year.
→ Earnings per share (EPS): actual $2.80, vs forecast $2.10.



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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 Trendline Breakout Trading?


Trendline breakouts play an important role in price chart analysis. However, not every break of a trendline carries the same weight. Some may signal genuine shifts, while others prove temporary. In this article, we will explore how to assess, confirm, and trade trendline breakouts while trying to keep risk under control.

Understanding Trendlines
Although you know what trendlines are, let’s briefly go over the subject. Trendlines are tools used in technical analysis to visualise the direction of price movements. Drawing accurate trendlines involves selecting the appropriate highs and lows to connect, so they provide a clear representation of the prevailing trend. According to the established rules, there should be at least two highs/lows to draw a strong trendline. The more points you connect, the more solid the line is supposed to be.
There are trendlines in forex, stock, commodity, index, and cryptocurrency* charts. Still, trendlines on charts of assets experiencing less price volatility may be more solid.

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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/CAD Hits 16-Year High


Charts show that the euro strengthened against the Canadian dollar on Thursday, with the pair climbing above 1.6460 for the first time since spring 2009, when the world was still reeling from the global financial crisis.

The current weakness of the Canadian dollar is being influenced by several factors:
→ Trade relations with the United States – according to media reports, some Canadian industries such as steel and automotive manufacturing are facing competitive disadvantages under the current agreement.
→ Oil prices have fallen to a five-month low, partly due to expectations surrounding a potential meeting between the US and Russian presidents. As we noted on 13 October, the XTI/USD exchange rate could drift towards $55 per barrel.
Meanwhile, the euro has benefited from the softening of the US dollar. Notably, the DXY index has turned lower from a key resistance level — the upper boundary of the channel identified in our 9 October analysis.
However, an examination of the EUR/CAD chart suggests that the current upward momentum may be losing steam.


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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 Fall for Fifth Consecutive Day


As shown on the Coinbase Global (COIN) chart, the company’s share price has dropped below $330, marking a 17% decline from this month’s high.
Bearish sentiment took hold last Friday after Donald Trump floated the idea of imposing 100% tariffs on Chinese goods:
→ Since then, the cryptocurrency market has struggled to find support.
→ Today, BTC/USD fell below $106,000 for the first time since early July.
COIN shares look set to extend their sequence of five consecutive bearish daily candles, as broader equity markets remain under pressure amid reports of losses at several regional US banks — a situation that some analysts are already comparing to the Silicon Valley Bank collapse in 2023.
The Coinbase (COIN) price chart provides further important insight.


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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: AUD/USD and NZD/USD Recover, Are Gains Just Getting Started?



AUD/USD is attempting a recovery wave from 0.6440. NZD/USD is also correcting losses and might recover if there is a clear move above 0.5760.

Important Takeaways for AUD/USD and NZD/USD Analysis Today
- The Aussie Dollar found support near 0.6440 and is now recovering against the US Dollar.
- There was a break above a key bearish trend line with resistance at 0.6490 on the hourly chart of AUD/USD at FXOpen.
- NZD/USD is attempting a recovery wave above 0.5700.
- There was a break above a major bearish trend line with resistance near 0.5720 on the hourly chart of NZD/USD at FXOpen.

AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair dipped from well above 0.6600. The Aussie Dollar declined below 0.6500, but the bulls were active near 0.6440 against the US Dollar. above the 23.6% Fib retracement level of the downward wave from the 0.6612 swing high to the 0.6440 low. There was also a break above a key bearish trend line with resistance at 0.6490.

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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 Shows Elevated Volatility


On the 4-hour chart of the S&P 500 Index (US SPX 500 mini on FXOpen), the ATR indicator with standard settings has not fallen below the 30 mark, signalling higher current market volatility compared to previous periods. Traders’ decisions are being influenced by the ongoing government shutdown, developments around a potential US-China tariff deal, and an increasingly active earnings season. Market sentiment has also been shaped by renewed concerns over regional bank stability and profit-taking in AI-related stocks.

Looking ahead, the new week is also expected to bring heightened volatility, as:

→ US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet in the coming days, paving the way for a potential meeting between Presidents Trump and Xi later this month.

→ Attention will also turn to quarterly results from Netflix, Coca-Cola, Tesla, IBM, and Intel. With key US economic data releases suspended due to the government shutdown, investors are likely to look to corporate earnings for direction.


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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.