Daily Market Analysis By FXOpen

How to Trade Crude Oil: Different Financial Instruments


Crude oil is a dynamic and complex market, offering traders various instruments for participation. With opportunities for both short-term and long-term investment, it presents multiple avenues for exciting trading. This article delves into the different financial instruments available for crude oil trading profit, from CFDs to ETFs and everything in between.

Why Trade Crude Oil?

Crude oil, particularly its major benchmarks Brent Crude and West Texas Intermediate (WTI), is a highly traded commodity known for its significant liquidity and price volatility. These attributes make it attractive for traders looking to capitalise on price movements in either direction.

These markets operate nearly around the clock, accommodating traders across time zones. The best time to trade crude oil is usually during the overlap of the New York and London market hours, where liquidity is at its highest, facilitating more efficient trades.

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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 Analysis: Bears Put Pressure on Key Support


As shown on the USD/JPY chart, the pair is hovering near key support at ?142.50 per US dollar.

While demand was strong enough at the end of May to lift the exchange rate from this level to a peak around ?146.00, USD/JPY has once again retreated to the ?142.50 area.

Why has USD/JPY declined?
On one hand, the US dollar has weakened following disappointing economic data released yesterday. The figures revealed a sharp slowdown in private sector hiring and an unexpected contraction in the US services sector, fuelling concerns over a possible recession.

On the other hand, yen strength is being driven by the Bank of Japan's apparent willingness to raise interest rates ? reaffirmed on Tuesday by Governor Kazuo Ueda ? which has reinforced expectations of a tightening cycle.


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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 Strengthens, Yen Consolidates Ahead of Nonfarm Payrolls Report


The major currency pairs, EUR/USD and USD/JPY, are showing restrained movement as markets await the release of key US employment data. Investors remain cautious, assessing the outlook for monetary policy in light of recent central bank decisions.

Today, market participants will focus on the release of the monthly US Nonfarm Payrolls (NFP) report. According to the consensus forecast, employment is expected to increase by 127K jobs in May, down from 177K in April and below the 12-month average of 156,800. The unemployment rate is projected to remain steady at 4.2%, consistent with recent months.

The anticipated slowdown in job growth is likely tied to ongoing economic uncertainty driven by trade tensions and the imposition of new tariffs. Weak ADP employment data, which showed a gain of only 37K jobs in May, has further raised concerns about the labour market. If the NFP data comes in below expectations, it may reinforce forecasts of potential interest rate cuts by the Federal Reserve in the coming months.

EUR/USD

Yesterday, the European Central Bank (ECB) cut its interest rate by 25 basis points to 2.15%. This marks the eighth rate reduction since May 2024, driven by a slowdown in eurozone inflation to 1.9%, below the ECB?s 2% target. ECB President Christine Lagarde noted that the bank is in a ?strong position? to navigate the current global economic uncertainty, including trade tensions with the United States. This contributed to the strengthening of the EUR/USD pair to the 1.1490 level. Technical analysis of EUR/USD suggests a potential retest of the April high around 1.1570.

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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.

GBPUSD Edges Higher, EURGBP Hits Support


GBP/USD is attempting a fresh increase above the 1.3500 resistance. EUR/GBP declined steadily below the 0.8440 and 0.8430 support levels.

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

• The British Pound is attempting a fresh increase above 1.3515.
• There was a break above a key bearish trend line with resistance at 1.3535 on the hourly chart of GBP/USD at FXOpen.
• EUR/GBP is trading in a bearish zone below the 0.8450 pivot level.
• There is a connecting bullish trend line forming with support at 0.8415 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 1.3615 resistance. The British Pound even traded below the 1.3575 support against the US Dollar.

Finally, the pair tested the 1.3500 zone and is currently attempting a fresh increase. The bulls were able to push the pair above the 50-hour simple moving average and 1.3540. There was a break above a key bearish trend line with resistance at 1.3535.

The pair tested the 50% Fib retracement level of the downward move from the 1.3616 swing high to the 1.3507 low. It is now showing positive signs above 1.3540.

On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.3575 and the 61.8% Fib retracement level of the downward move from the 1.3616 swing high to the 1.3507 low.

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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.

Apple (AAPL) Shares Consolidate Ahead of WWDC


Today, 9 June, marks the start of Apple?s Worldwide Developers Conference (WWDC) ? an event that traditionally attracts significant attention from investors and traders.

It is fair to say that WWDC 2025 begins against a rather negative backdrop:

→ Since the start of 2025, AAPL stock price has fallen by 19%, and Apple has lost its title as the world?s most valuable company, now trailing behind Microsoft and Nvidia.
→ Expectations raised by last year?s conference ? particularly regarding new AI features in the iPhone ? were not fully realised. As Barron?s noted, in March, an Apple spokesperson admitted that the new Siri ?will take longer than we thought to implement these features. We expect to roll them out next 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.

How to Trade with the 5-0 Pattern


The 5-0 pattern is a relatively new harmonic trading formation revealed by Scott Carney in 2007. It is a reversal setup signalling a change in the direction of the market trend. In this FXOpen article, you will learn more about the 5-0 formation and why it?s worth spotting it on a chart. You?ll find out how to trade it effectively and see a real-market example of the 5-0 setup placed on the TickTrader platform.

What Is the 5-0 Harmonic Pattern?

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

XBR/USD Chart Analysis: Brent Crude Reaches 1.5-Month High


In our analysis of Brent crude oil six days ago, we identified a large contracting triangle and a local ascending channel. We also outlined a potential scenario involving a bullish breakout above the upper boundary of the triangle.

Although this was not the base-case scenario, the XBR/USD chart now suggests it has played out: yesterday, the price climbed to nearly $67 per barrel ? its highest level since the end of April.

The main bullish catalyst appears to be ongoing trade talks between the United States and China, which have raised hopes of a resolution to tariff-related tensions between the world?s two largest economies.

At the same time, rising oil prices may exacerbate geopolitical tensions, particularly amid Israeli threats to strike ports in Yemen ? a risk that could disrupt supply chains across the Middle East.



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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.

Automated Trading vs Manual Trading


In the modern world of trading, two distinct methodologies exist: manual trading vs algorithmic trading. Both these approaches aim at the same goal - to optimise profit and minimise losses in the financial markets. However, they vary significantly in their operation, the level of involvement required, and the nature of decision-making processes. In this FXOpen article, you will find the key differences between the approaches and their advantages and limitations that may help you to choose the right approach for you.

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