Facebook Suffered Outage, Oil Rallies After OPEC

Facebook Suffered Outage, Oil Rallies After OPEC

The market sentiment is risk-off. Stocks are falling, while the safe-haven US dollar is edging higher. Meanwhile, oil advanced after the OPEC meeting.

  • Facebook suffered the largest outage in its history with more than 10.6 million reports. Its services went down yesterday, which have started recovering just now. Mark Zuckerberg’s personal wealth has dropped by over $6 billion just in a few hours. The stock of Facebook fell by nearly 5%. It’s a lot for one day!
  • The S&P 500 plunged to the lowest level since July and the Nasdaq 100 lost more than 2% of its value, amid the sell-off of Facebook.
  • One more developer from China got into crisis. Fantasia Holdings didn’t repay a $205.7 million bond. It weighed on the investors’ sentiment.
  • Oil has reached the highest level since 2014 after OPEC+’s decision to stick to a gradual supply increase.
  • Bitcoin has surged! The cryptocurrency is getting closer to the psychological level of $50,000.
  • This morning, the Reserve Bank of Australia kept its monetary policy unchanged. AUD/USD went down.

Tech outlook

EUR/USD keeps moving inside the descending channel. It has just broken through the important support level of 1.1600. After a short pullback to this level, the pair is likely to continue falling further. The next support level is at 1.1565 – the low of October 1.


USD/JPY has surged above the key resistance level of 111.00 due to the strong USD. The way up to the next round number of 111.50 is open now. If the pair breaks through this resistance level, then it may advance to the high of September 30 at 112.00. Support levels are 110.80 and 110.50.




USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

US Dollar Prepares for the Pump
US Dollar Prepares for the Pump

On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies. 

Uptrend in Gold Starts Now
Uptrend in Gold Starts Now

Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

Latest news

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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