Daily Market Analysis By FXOpen

Analytical NVIDIA Stock Forecast for 2024, 2025 ? 2030, and Beyond


NVIDIA's stock has seen remarkable growth, driven by advancements in AI, data centres, and emerging technologies. This article provides a comprehensive analysis of NVIDIA?s stock outlook for 2024, 2025, and the next decade. Join us as we explore detailed insights into the company?s financial performance, strategic initiatives, and potential in new markets like autonomous driving and the Internet of Things (IoT).

NVIDIA?s Recent Price History

NVIDIA Corporation, founded in 1993, went public in 1999 with an initial share price of $12. Note that, adjusted for the multiple splits NVDA has undergone, this is equivalent to $0.4375?we?ll refer to the split-adjusted price from here.

The company quickly made a name for itself in the graphics processing unit (GPU) market, and its stock saw steady growth through the early 2000s.

Early 2000s to 2015: Building the Foundation

Throughout the 2000s, NVIDIA expanded its product line, targeting both gaming and professional markets. Significant milestones included the release of the GeForce 256 in 1999, often considered the world's first GPU.

The company's stock price rallied in the dot-com bubble, cresting $6 in 2001. After sinking to a low of $0.60 in 2002, NVDA began a long uptrend, peaking at $9.92 in 2007, just before the 2008 financial crisis sent it plummeting back to $1.44. Continuing to expand its presence in the GPU arena over the years, NVIDIA?s stock rebounded, closing 2015 at $8.24.

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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/GBP Rate at 21-Month Low Post-European Parliament Elections


Investors will begin the week in a state of uncertainty regarding the outlook of Europe's political landscape.

The four-day European Parliament elections concluded on Sunday. According to Reuters, the results showed a significant gain for eurosceptic-nationalists, who have displaced liberals and greens.

Additionally, President Emmanuel Macron dissolved the French Parliament, calling for early legislative elections later this month after losing to Marine Le Pen's far-right party in the European Union elections.

All this puts pressure on the structure of the European Union, weakening the euro's value.

As shown by the EUR/GBP chart, trading on the currency markets opened on Monday around the 0.8465 level?a price not seen since August 2022.



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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.

Goldman Sachs Predicts a Rise in Brent Crude Oil Prices


According to CNBC, Goldman Sachs analysts believe that Brent crude oil prices should increase in the third quarter due to summer fuel demand leading to a ?significant? deficit?approximately 1.3 million barrels per day. They forecast that the price of Brent could rise to $86 per barrel with a ?ceiling? around $90.

This implies an approximate +7% increase from current levels and a continued rise from the low set on 4 June. How realistic is this?



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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 Dives While USD/JPY Continues To Rise


EUR/USD gained bearish momentum below the 1.0810 support. USD/JPY is rising and might take out the 157.40 resistance.

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

• The Euro started a fresh decline below the 1.0810 support zone.
• There is a connecting bearish trend line forming with resistance at 1.0760 on the hourly chart of EUR/USD at FXOpen.
• USD/JPY climbed higher above the 155.25 and 156.25 levels.
• There is a connecting bullish trend line forming with support at 156.85 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair struggled to clear the 1.0900 resistance zone. The Euro started a fresh decline and traded below the 1.0810 support zone against the US Dollar, as mentioned in the previous analysis.

The pair even declined below 1.0760 and tested the 1.0720 zone. A low was formed near 1.0719 and the pair is now consolidating losses. On the upside, the pair is now facing resistance near the 23.6% Fib retracement level of the recent decline from the 1.0901 swing high to the 1.0719 low at 1.0760.



There is also a connecting bearish trend line forming with resistance at 1.0760 and the 50-hour simple moving average. The next key resistance is near the 1.0780 level.

The main resistance is 1.0810 or the 50% Fib retracement level of the recent decline from the 1.0901 swing high to the 1.0719 low. A clear move above the 1.0810 level could send the pair toward the 1.0860 resistance.

An upside break above 1.0860 could set the pace for another increase. In the stated case, the pair might rise toward 1.0900. If not, the pair might resume its decline. The first major support on the EUR/USD chart is near 1.0720.

The next key support is at 1.0680. If there is a downside break below 1.0680, the pair could drop toward 1.0650. The next support is near 1.0620, below which the pair could start a major decline.

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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/CAD Retracts from Nearly 2-Month High


Yesterday, the USD/CAD exchange rate climbed above 1.3785 for the first time since mid-April.

However, today's USD/CAD chart shows that it failed to consolidate at this peak and has dropped to a weekly low.

These fluctuations might be interpreted as traders positioning themselves ahead of today's critical events. According to ForexFactory:

At 15:30 GMT+3, US inflation data will be released;
At 21:00 GMT+3, the Fed's interest rate decision will be announced;
At 21:30 GMT+3, Powell's press conference will take place.



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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.

Dollar Falls After Inflation Data: Is a Change in Medium-Term Trends on the Horizon?


The second consecutive decline in the US core consumer price index caused a sharp drop in the American currency across the board. For instance, the GBP/USD pair rose by 120 points within a couple of hours, attempting to strengthen above 1.2800. The EUR/USD pair closed Monday's ?price gap? and tested 1.0850, while the USD/JPY pair briefly traded below 156.00. However, a change in medium-term trends remains highly uncertain. The Fed meeting and the publication of an updated economic forecast by the US regulator allowed the dollar to quickly recover some losses.

From yesterday's Fed statement:

• The target range for the federal funds rate remains at 5.25?5.50%;
• The median forecast by FOMC members suggests one and a half rate cuts for the federal funds rate (compared to three in the March forecast).

From the published data, it can be inferred that the Fed maintains a fairly hawkish stance, which could support buyers of the US currency.

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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: GBP/USD and EUR/GBP Poised For More Losses


GBP/USD failed to climb above 1.2860 and trimmed all gains. EUR/GBP is declining and trading below the 0.8410 support level.

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

• The British Pound is showing bearish signs below 1.2800.
• There is a key bearish trend line forming with resistance near 1.2765 on the hourly chart of GBP/USD at FXOpen.
• EUR/GBP is declining and showing bearish signs below 0.8460.
• There is a major declining channel forming with support at 0.8410 on the hourly chart at FXOpen.

GBP/USD Technical Analysis

On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2860 zone. As mentioned in the previous analysis, the British Pound struggled to extend gains and declined below the 1.2800 support level against the US Dollar.

There was a clear move below the 61.8% Fib retracement level of the upward move from the 1.2706 swing low to the 1.2860 high. The pair even settled below the 1.2765 level and the 50-hour simple moving average.

The pair tested the 1.2740 support zone and the 76.4% Fib retracement level of the upward move from the 1.2706 swing low to the 1.2860 high.

It is now consolidating losses above the 1.2740 level. On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2765 and a connecting bearish trend line. The next major resistance is near the 50-hour simple moving average at 1.2780.

A close above the 1.2780 resistance zone could open the doors for a move toward 1.2825. Any more gains might send it toward 1.2860. If not, the pair could resume its decline below 1.2740. On the downside, there is a key support forming near 1.2710.

If there is a downside break below the 1.2710 support, the pair could accelerate lower. The next major support is near the 1.2690 zone, below which the pair could test 1.2650. Any more losses could lead the pair toward the 1.2550 support.

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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.

European Stock Indices Decline Amid Political Uncertainty


Today, the Eurostoxx 50 index (Europe 50 on FXOpen) has dropped below the early May minimum, reflecting escalating market concerns over the upcoming French elections, as reported by Reuters. Finance Minister Bruno Le Maire's acknowledgment that the current political crisis could evolve into a financial crisis has amplified fears, extending the political risk until June.

How long might this decline persist?

Fundamentally, statements from authorities could calm the 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.