Daily Market Analysis By FXOpen

Dollar Trades Mixed: ADP Disappoints, Shutdown Adds Risks


The US dollar showed a mixed performance: a weak ADP employment report (-32k versus the forecast of growth) heightened doubts over the resilience of the labour market, while uncertainty surrounding a US government shutdown added further pressure on the greenback. Markets are pricing in risks of delayed publication of key economic data, including the nonfarm payrolls report, which could complicate the Federal Reserve?s policy decisions in the coming months.

In the USD/JPY pair, the dollar continues to lose ground, falling towards the 147.00 level, where short-term support is located. The pressure is reinforced by a combination of weak US data and stronger demand for the yen as a so-called safe-haven asset. Meanwhile, USD/CAD is consolidating after climbing to 1.3950: the Canadian dollar found support amid the release of business activity data and fluctuations in oil prices, which remain a key driver for the pair.

Near-term moves in the major currency pairs will largely depend on the balance of the news flow and investor reaction to political uncertainty in the United States.

USD/JPY


At the end of September, dollar buyers in the USD/JPY pair almost managed to test the critical resistance level near 150.00. However, the slowdown in bullish momentum allowed dollar bears to seize the initiative, forming a bearish harami candlestick pattern on the daily timeframe. Technical analysis of USD/JPY suggests a potential continuation of the downward movement towards the key range of 146.00?146.50. Bulls, however, may attempt to push the pair back into the 147.90?148.20 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.

Natural Gas Price Hits 2.5-Month High


As the XNG/USD chart shows today, natural gas prices have risen above $3.600/MMBtu for the first time since mid-July.

According to media reports, the rise in gas prices has been driven by:
→ Weather models forecasting colder conditions, suggesting the heating season may begin earlier than expected;
→ An EBW Analytics Group note highlighting short-covering activity in the market, which has accelerated the rally (a short squeeze effect).

At the same time, chart analysis suggests that the upside potential may be limited.



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.

The S&P 500 index remains positive against all odds


We noted on 29 September that, amid the US shutdown, sentiment in the S&P 500 index market remained positive, and highlighted factors supporting further growth.

Today, the S&P 500 index (US SPX 500 mini on FXOpen) reached a fresh all‑time high: on Friday morning the price rose above 6 740 points. This confirms the continued optimism among market participants. Today this is supported by news related to the creators of ChatGPT.

According to media reports, OpenAI:
→ has reached a valuation of $500 billion following a deal in which current and former employees sold shares worth around $6.6 billion;
→ is expanding cooperation with semiconductor manufacturers in South Korea, which is expected to sustain the company?s high growth rate.

Thus, OpenAI?s successes are boosting investor optimism ahead of the upcoming earnings season.

These and other positive developments might have been overshadowed by the regular Non‑Farm Employment Change report (and other US labour market data), but the Bureau of Labour Statistics is closed due to the shutdown.



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.

News from France Weighs on European Financial Markets


According to Reuters, France?s new Prime Minister, S?bastien Lecornu, unexpectedly resigned on Monday just hours after appointing his new cabinet.

This news has underscored the deepening political crisis in France and placed significant pressure on European financial markets ? this morning:

→ The euro is weakening. The EUR/USD rate has fallen below 1.1660 and is near September?s low.

→ European shares are falling. The French stock index CAC 40 (France 40 on FXOpen) has dropped by around 2%.



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.

Algorithmic Trading: Strategies and Trends Ahead


Algorithmic trading uses computer programs to execute strategies aiming to improve speed and precision of the process. Its role can?t be overestimated as traders always seek to reduce manual errors. In this article, we explore how automated trading systems work, their challenges, strategies, and future trends.

What Is Algorithmic Trading?
Algorithmic trading, often referred to as algo-trading or black-box trading, is the automated execution of trading strategies using computer programs. Algorithms use predetermined rules, mathematical models, and data analysis to make trading decisions, eliminating the human factor and emotions. This might help traders to place and execute trades faster and, at times, more accurately. Theoretically, algo-trading can generate trades at a speed and frequency that is impossible for a human trader, and this can potentially lead to reduced trading fees.

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.

Mastering Trading with the Symmetrical Triangle Chart Pattern


Price charts form shapes that hint at the market?s next move, and one of them is the symmetrical triangle. Unlike patterns that clearly point to bullish or bearish outcomes, this formation builds tension as buyers and sellers converge, leaving traders waiting for the breakout. In this article, we will discover how the symmetrical triangle forms, what signals it may provide, and how it can be implemented into a trading strategy.

What Is a Symmetrical Triangle Pattern in Trading?
A symmetrical triangle is a chart pattern that relates to the triangle group, which also includes ascending and descending triangles. It?s a bilateral formation, so it may signal a fall or rise in the price.

Moreover, as with ascending and descending triangles, it can occur in an uptrend and downtrend and reflect a potential trend reversal or continuation. Still, according to the work Technical Analysis of Stock Trends by Robert D. Edwards and John Magee, in 75% of cases, the triangle is a continuation signal. Therefore, it can be assumed that a bullish symmetrical triangle pattern occurs in an uptrend, while a bearish symmetrical triangle pattern appears in a downtrend.

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.

AMD Shares Surge After Partnership Announcement with OpenAI


According to media reports:
→ The deal involves AMD supplying processors of various generations to support the deployment of artificial intelligence infrastructure with a total capacity of 6 gigawatts.
→ The partnership is expected to generate billions in revenue for AMD starting in 2026.
→ Barclays analysts have raised their price target for AMD shares from $200 to $300.

The major announcement fuelled a sharp rally of around 30% in AMD?s share price, though this surge triggered aggressive selling pressure near the historic peak around the $227 level.



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: Gold Rockets Beyond $4,000, WTI Crude Oil Struggles


Gold price started a fresh surge above $4,000 and traded to a new all-time high. Crude oil is recovering and might rise toward the $63.20 resistance zone.

Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today

• Gold price rallied to a new all-time high and traded above $4,000 against the US Dollar.
• A key bullish trend line is forming with support at $4,000 on the hourly chart of gold at FXOpen.
• WTI Crude oil is recovering losses and trading above $61.20.
• There is a short-term rising channel in place with support at $61.20 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price formed support near $3,820. The price remained in a bullish zone and started a fresh increase above $3,900, as mentioned in the previous analysis.

The bulls pushed the price above $4,000 level and the 50-hour simple moving average. Finally, it traded to a new all-time high at $4,026. The price is still showing bullish signs above $4,020 and the RSI is above 70.

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.