TLDR:

• The Philippines imports 98% of its oil from Gulf nations, all directly disrupted by the ongoing Iran war conflict.
  
• Fuel prices have nearly tripled since February 28, with diesel hitting 130 pesos and LPG reserves lasting just 24 days.
  
• President Marcos signed Executive Order 110, granting authority over fuel rationing and essential goods distribution nationwide.
  
• Labor union KMU warned the emergency order could restrict worker strikes, with transport workers planning a two-day strike this week.

The Philippines has become the first country to declare a national energy emergency linked to the ongoing Iran war. President Ferdinand Marcos Jr. signed Executive Order 110 on Tuesday.

The order cites an imminent danger to the country’s energy supply stability. With roughly 45 days of fuel remaining on average, the government is moving quickly.

The declaration grants broad authority over fuel purchasing, rationing, and distribution of essential goods across the nation.

A Nation Running Low on Fuel

The Philippines imports 98% of its oil from the Gulf region. Its top three suppliers — Saudi Arabia, the UAE, and Iraq — are all caught up in the conflict.

Together, these three nations account for billions of dollars in annual oil exports to the Philippines. With the Strait of Hormuz effectively shut down, those supply lines have been severely disrupted.

Saudi Arabia has already cut oil exports to Asia for a second straight month. Meanwhile, the Philippines produces just 14,300 barrels of oil per day domestically.

The country consumes around 474,000 barrels daily, leaving a 97% gap between supply and demand. That gap is now at the center of a deepening national crisis.

As TFTC noted on X: “The Philippines just became the first country in the world to declare a national energy emergency over the Iran war. They have 45 days of fuel left.”

Energy Secretary Sharon Garin provided a detailed breakdown of current reserves. “Gasoline for 53 days, diesel for 46 days, jet fuel for 39 days, and LPG for just 24 days,” Garin stated. The 45-day figure represents the average across all petroleum products. These numbers have pushed the government toward emergency measures.

Fuel Prices Surge as Government Acts

Fuel prices in the Philippines have nearly tripled since the war began on February 28. Diesel, widely used across the country, has surged to nearly 130 pesos per liter.

Kerosene, a cooking fuel for lower-income households, has climbed to 145 pesos. Gasoline has now exceeded 90 pesos per liter, more than double pre-war levels.

In response, the government has introduced several conservation measures. Civil servants are now on a four-day workweek to cut fuel use.

Ferry services have also been reduced, and transport workers are receiving 5,000-peso subsidies. The country is also shifting temporarily to coal-fired power plants to reduce reliance on liquefied natural gas.

Labor unions, however, are not satisfied. The KMU, the Philippines’ largest labor coalition, described the executive order as an “admission” that the government failed to act sooner.

The group also warned that provisions in the order could be used to “restrict strikes and protests.” Transport workers are planning a two-day strike on Thursday and Friday in direct response to the crisis.

Robinhood has approved a share repurchase program worth $1.5 billion, according to a filing with the U.S. Securities and Exchange Commission on Tuesday. The company said it plans to execute the buyback over the next three years.

According to the filing, the total includes $1.1 billion in new capacity. Robinhood rolled over the rest from an older repurchase plan. The company said the move reflects its capital plans as it continues to build new products and return value to shareholders over time.

Robinhood Chief Financial Officer Shiv Verma addressed the decision in a company statement. He said, 

“Robinhood is a generational company with a massive long-term opportunity.” Verma also said, “This authorization reflects the confidence of our management team and board in our ability to continue delivering innovative products for customers and creating value for shareholders while returning capital over time.” 

The company linked the program to its broader business strategy rather than to a short-term market move.

Robinhood shares closed Tuesday at $69.08, down 4.7% on the day. That marked the stock’s lowest closing price of the year. The shares later recovered slightly to $70.90 in after-hours trading.

The stock has fallen nearly 39% so far this year. It also stands 54.7% below its October peak of $152.46. The decline came during a weak period for both stocks and crypto, with broader macro concerns and the Iran war weighing on risk assets.

Credit facility expands while growth plans continue

Robinhood also said its unit, Robinhood Securities, entered a new $3.25 billion revolving credit facility with JPMorgan Chase. The new facility replaces a prior $2.65 billion line. It also includes an option to expand by up to $1.62 billion, which would bring the total capacity to $4.87 billion.

Even with pressure on its share price, Robinhood continues to push into crypto, tokenization, and adjacent financial products. The company launched the testnet for its Ethereum layer-2 network in February. Chief Executive Officer Vlad Tenev said the network processed 4 million transactions in its first week of public testnet activity. 

Robinhood plans to launch the mainnet later this year to support tokenized equities, ETFs, and other traditional financial assets. Robinhood Ventures Fund has also invested about $35 million across Stripe and ElevenLabs.

Liquidity zones are areas where large buy and sell orders cluster, often acting as support or resistance. Liquidity voids (or imbalances) are fast price moves where little trading occurred, and price often returns to fill them.

Traders use liquidity zones to identify entry and exit points, while liquidity voids may help anticipate retracements and continuation moves.

This article explains how liquidity zones and liquidity voids function in market structure and highlights their role on price charts.

Takeaways

• Liquidity zones = high trading activity (support/resistance)
• Liquidity voids = low activity (fast price moves)
• Price tends to:
  • move towards liquidity
  • return to fill voids
• Commonly used with:
  • market structure
  • volume analysis

Liquidity Zones vs Liquidity Voids

Liquidity zones and liquidity voids differ primarily in how order flow is distributed and how price behaves within each environment.

In liquidity zones, trading activity is elevated due to the presence of clustered orders around previous highs, lows, or consolidation ranges. This concentration of liquidity typically causes prices to slow down, rotate, or produce reactions, reinforcing their role as support and resistance areas.

In contrast, liquidity voids form during strong directional moves, leaving behind areas where little trading activity has previously occurred. As a result, when price revisits these regions, it often moves quickly due to the absence of significant opposing orders.

Liquidity zones are generally associated with reversal or breakout strategies, where traders anticipate interaction between buyers and sellers. Liquidity voids, however, are typically approached with mean reversion expectations, as the market tends to rebalance prior inefficiencies.

Understanding Liquidity in Trading

In trading, liquidity refers to how easily an asset can be bought or sold without significantly affecting its price. High liquidity means there are enough buyers and sellers at a given price level, facilitating smoother transactions. This concept is critical because it affects how quickly and at what price a trader can enter or exit positions.

Assets with high liquidity tend to have tighter spreads, which may reduce trading costs.

Conversely, assets with low liquidity can experience abrupt price movements due to limited order flow. Understanding liquidity may help traders make decisions.

These dynamics give rise to two important phenomena in trading: liquidity zones and voids. Liquidity zones are areas with a high concentration of trading activity, while liquidity voids represent gaps in the market where trading activity is sparse, each presenting unique conditions for trading strategies.

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What Are Liquidity Zones in Trading?

Liquidity zones (also called liquidity levels) are specific areas on a price chart where trading activity is highly concentrated. These zones indicate areas where large orders can be executed with minimal price impact.

Forex liquidity zones highlight areas where currency pairs tend to see higher activity.

These areas may be useful for identifying reversals or breakouts, providing reference points for entries and exits.

These zones often form around historical price levels where significant trading activity has occurred. They often act as magnets, attracting future price movement due to expected order flow. Liquidity levels are commonly associated with support and resistance. When price approaches these levels, traders can expect increased order flow, which may lead to clearer price reactions.

Liquidity Zones vs Order Blocks

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How Traders Identify Liquidity Zones (With Examples)

Traders identify liquidity zones using volume, price structure, and historical levels. Liquidity zone trading depends on accurately identifying areas where trading activity is concentrated. These levels highlight regions of high volume and may act as pivot points for price action.

Volume Profile

This approach uses the volume profile to show where most trading activity has occurred.

Unlike traditional indicators that display volume over time, the volume profile shows volume at specific price levels. This may help traders identify peaks in volume, highlighting areas of significant liquidity.

To use the volume profile tool as we have in the picture above, you can head over to FXOpen’s TickTrader trading platform and search for “Volume Profile Fixed Range” under the Indicators tab.

Price Consolidation Areas

Recognising zones where the price has consolidated for a notable period is another method. These areas represent a tug-of-war between buyers and sellers, resulting in a high volume of trades. Such levels often act as magnets for future price action, making them critical for liquidity area trading.

Previous Support and Resistance Levels

Historical support and resistance levels are invaluable for spotting zones. These are levels at which significant reversals or pauses in trend have occurred, indicating areas where large volumes of orders may accumulate. When price approaches these levels again, it often does so with increased trading activity, making them prime candidates for liquidity areas.

What Is a Liquidity Void (Imbalance)?

Liquidity voids (imbalances) are rapid price movements where little trading activity occurs between two levels. These gaps can lead to abrupt price changes and are often visible as sharp moves on a chart.

A liquidity void in forex signals an imbalance between buyers and sellers, causing prices to move quickly. This can result in sharp price movement as the market seeks a new equilibrium. These voids often occur after major news releases, during low-liquidity periods, or due to large institutional trades.

Their impact extends beyond the initial move. They represent areas where the market has not established a consensus price, which may lead to increased volatility later. Prices often return to these areas to “fill” the imbalance and restore balance in the market.

Traders navigate the increased volatility and unpredictability associated with these gaps but can also strategise to take advantage of the potential return to equilibrium.

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How Traders Spot Liquidity Voids (Types of Liquidity Voids)

Liquidity voids can be classified based on where they appear in a trend. Liquidity voids in the forex market manifest in various forms, each with distinct characteristics and implications for traders. Understanding the different types of voids may support traders in navigating these challenging areas. Some notable types of liquidity voids are common, exhaustion, breakout, and runaway. Let’s take a look at them:

Common Liquidity Voids

Common voids appear randomly across charts without any news or event trigger, forming from natural market ebb and flow. They don’t always carry significant analytical value but are still worth monitoring for risk management purposes.

Exhaustion Liquidity Voids

Exhaustion liquidity voids appear at the end of a trend when momentum fades and price makes a final push before reversing. Traders often watch for them as potential signals of a trend reversal.

Breakout Liquidity Voids

Breakout voids form when price breaks through a key support or resistance level with enough force to leave behind an imbalance. They often signal the beginning of a new trend.

Runaway Liquidity Voids

Runaway voids occur within an existing trend and signal its continuation. Price moves sharply in the trend’s direction, bypassing levels where liquidity would normally sit, which may support trend strength confirmation.

How Traders Use Liquidity Zones and Voids

Liquidity zones and voids form the basis of several common trading approaches. Here’s how traders typically work with them.

Step 1: Identify a Liquidity Zone

Traders start by locating areas where price has repeatedly reacted, such as support and resistance levels or high-volume nodes on a volume profile. These clusters of resting orders act as magnets for price.

Step 2: Wait for a Price Reaction

Rather than acting immediately, traders watch how price behaves when it reaches the zone. Does it stall? Reverse? Push straight through? The reaction tells the story.

Step 3: Look for Confirmation

A reaction alone isn’t enough. Traders look for confirmation through candlestick patterns (like pin bars or engulfing candles) or a shift in market structure, such as a break of a recent swing high or low.

Step 4: Target Nearby Liquidity or a Void

Once confirmed, traders typically set targets at the next liquidity zone or unfilled void. Voids act as areas price is likely to move toward, since they represent unfinished business on the chart.

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In this example, price moves into a liquidity zone, leaving a void behind it. Buyers attempt to push higher but fail, printing a long upper wick and signalling weakening momentum. Price then breaks below the established low and drops to fill the liquidity void left on the way up. A trader could have opened a sell position after the price broke below the low, set a stop-loss level above the nearest swing high, and closed the trade once the liquidity void was filled.

Limitations of Liquidity Zones and Voids

Understanding liquidity zones and voids provides traders with valuable insights into market dynamics, yet relying solely on these concepts comes with limitations. Here are some specific challenges to consider:

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• Market Volatility: Market volatility can disrupt liquidity patterns, making historical levels less reliable.
• Influence of External Events: External events such as economic announcements can override expected behaviour.
• Timeframe Sensitivity: The relevance of zones and voids varies across timeframes, which may affect analysis.
• False Signals: These patterns can also produce false signals, leading to premature decisions.

The Bottom Line

Liquidity zones and voids may help explain how price moves within the forex market. They highlight areas of trading activity and imbalance, offering insight into potential price behaviour.

However, traders use them alongside other tools due to their limitations.

For traders seeking to apply these insights, opening an FXOpen account could provide a practical platform to explore and leverage the dynamics of liquidity in their trading across hundreds of tradable assets.

FAQs

What Are Liquidity Zones?

Liquidity zones are areas on a chart where buy and sell orders are concentrated, often acting as support or resistance. Traders monitor these levels to identify potential entry and exit points.

How Are Liquidity Zones Identified in Trading?

Liquidity zones are identified using tools such as volume profile, price consolidation, and historical support and resistance. These methods highlight areas where trading activity is concentrated.

How May Liquidity Zones Be Traded?

Liquidity zones are commonly used to identify potential entry and exit points. Traders monitor price reactions at these levels and may combine them with other tools to refine trading decisions.

What Are Liquidity Voids?

Liquidity voids are areas where price moves quickly due to low trading activity, creating an imbalance. Price often returns to these areas to “fill” the gap and restore market balance.

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.

AUD/USD is attempting a recovery wave from 0.6910. NZD/USD is also correcting losses and might recover if there is a clear move above 0.5885.

Important Takeaways for AUD/USD and NZD/USD Analysis Today

· The Aussie Dollar found support near 0.6910 and is now recovering against the US Dollar.

· There is a key bearish trend line forming with resistance at 0.7015 on the hourly chart of AUD/USD at FXOpen.

· NZD/USD is attempting a recovery wave above 0.5800.

· There is a major bearish trend line forming with resistance near 0.5840 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 0.7050. The Aussie Dollar declined below 0.7000, but the bulls were active near 0.6910 against the US Dollar.

The recent swing low was formed near 0.6938, and the pair is now correcting losses. There was a move above the 50% Fib retracement level of the downward wave from the 0.7062 swing high to the 0.6938 low.

However, the bears are active near 0.7015 and the 61.8% Fib retracement. There is also a key bearish trend line near the same region. The pair is now trading below 0.7000 and the 50-hour simple moving average. On the upside, immediate resistance is 7000.

The first major hurdle for the bulls could be 0.7015. A clear upside break above 0.7015 could send the pair toward 0.7060. The next area of interest on the AUD/USD chart is near 0.7095, above which the price could rise toward 0.7120. Any more gains might send the pair toward 0.7150.

On the downside, initial support is near 0.6940. The key breakdown zone could be 0.6910 and 0.6900. Any more losses might send the pair toward 0.6840.

NZD/USD Technical Analysis

On the hourly chart of NZD/USD on FXOpen, the pair also followed a similar pattern and declined from the 0.5885 zone. The New Zealand Dollar gained bearish momentum and traded below 0.5850 against the US Dollar.

The pair even dropped below the 50-hour simple moving average and tested 0.5800. A low was formed near 0.5793, and the pair is now attempting a fresh increase. There was a move above the 50% Fib retracement level of the downward wave from the 0.5887 swing high to the 0.5793 low.

However, there was no close above the 50-hour simple moving average and the 61.8% Fib retracement. There is also a major bearish trend line forming with resistance near 0.5840.

On the upside, the pair is facing hurdles near the same trend line. The next key breakout zone sits near 0.5850. If there is a move above 0.5850, the pair could rise toward 0.5885. Any more gains might open the doors for a move to 0.5940.

On the downside, immediate support on the NZD/USD chart is near 0.5800. The next key area for the bulls might be 0.5785. If there is a downside break below 0.5785, the pair could extend the decline toward 0.5760. The main target for the bears below 0.5760 might be 0.5720.

Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips (additional fees may apply). Open your FXOpen account now or learn more about trading forex with FXOpen.

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.

Key Highlights

• The board of directors greenlit a $1.5 billion share repurchase initiative, injecting $1.1 billion in fresh buyback authority into the existing program
• The share repurchase initiative is scheduled to span three years beginning in the first quarter of 2026
• Shares of HOOD declined 4.7% on Tuesday, closing at $69.08—the lowest level recorded in 2026
• The company’s brokerage arm secured an enhanced revolving credit line with JPMorgan, increasing it to $3.25 billion from $2.65 billion
• Year-to-date, HOOD has dropped approximately 39%, representing a 54.7% decline from its October peak of $152.46

Robinhood (HOOD) has greenlit a $1.5 billion share repurchase initiative even as its stock price continues its downward trajectory, reaching its weakest closing price of 2026 on the day of the announcement.

Robinhood Markets, Inc., HOOD

According to an 8-K filing submitted to the U.S. Securities and Exchange Commission, the board of directors authorized the repurchase program on Tuesday, March 24. The initiative introduces over $1.1 billion in additional buyback authorization, supplementing the remaining capacity from a prior program.

The financial services platform anticipates executing the share repurchases across approximately three years, commencing in the first quarter of 2026. The company maintains flexibility with no obligation to repurchase a predetermined amount.

Robinhood Chief Financial Officer Shiv Verma described the firm as “a generational company with a massive long-term opportunity,” stating that the authorization demonstrates the board’s belief in the company’s capacity to “continue delivering innovative products for customers and creating value for shareholders.”

Shares closed Tuesday’s trading session at $69.08, representing a 4.7% decline for the day. This marked HOOD’s weakest closing price in 2026. In extended trading, shares recovered slightly to $70.90.

Significant Retreat from October Peak

The stock has plummeted nearly 39% since the beginning of 2026 and has tumbled 54.7% from its record high of $152.46 reached in October. Macroeconomic headwinds and geopolitical uncertainty have pressured technology stocks and cryptocurrency-related equities alike.

Despite the challenging 2026 performance, HOOD remains approximately 43% higher compared to twelve months ago, buoyed by the platform’s strategic expansion into prediction markets, banking services, and cryptocurrency trading capabilities.

According to analyst sentiment tracker TipRanks, the average 12-month price target for HOOD stands at $123.85. Based on assessments from 16 Wall Street analysts, the consensus recommendation is classified as “strong buy.”

Share buyback programs are generally interpreted as management’s indication that the stock is trading below its intrinsic value—though investors appeared unimpressed by Tuesday’s announcement, as reflected in the day’s price action.

Enhanced Credit Line Provides Additional Financial Flexibility

In conjunction with the repurchase program disclosure, Robinhood Securities—the company’s registered brokerage entity—finalized an amended revolving credit arrangement with JPMorgan Chase as the lead arranger.

The credit facility was increased to $3.25 billion from its previous $2.65 billion limit. Additionally, the agreement includes provisions to potentially expand total commitments to as much as $4.875 billion, providing substantial liquidity flexibility.

Meanwhile, Robinhood continues advancing its cryptocurrency and tokenization strategy. The company released its Ethereum layer-2 blockchain network, Robinhood Chain, to public testnet in February.

Chief Executive Officer Vlad Tenev reported that the network handled 4 million transactions during its inaugural week on testnet. Robinhood Chain is designed to facilitate tokenized equities, exchange-traded funds, and other conventional financial products.

The mainnet deployment is scheduled for later in 2026.

HOOD concluded Tuesday’s regular trading at $69.08, with after-hours activity pushing the price modestly higher to $70.90.

The net outflow of Bitcoin from exchanges over the past month suggests that investors have started to accumulate the cryptocurrency, according to a CryptoQuant analyst.

March has been largely dominated by Bitcoin (BTC) outflows from crypto exchanges, aside from one spike in inflows just before the asset tapped a six-week high of $76,000 on March 17, according to CryptoQuant data. 

This negative net flow has remained present while Bitcoin “continues its liquidation phase,” the analyst known as Darkfost said on Wednesday.

“This persistent outflow suggests genuine accumulation by investors, who continue to buy and withdraw their BTC from exchange platforms,” he said.

Inflows to exchanges are generally bearish as investors prepare to exchange the asset for stablecoins, which adds to selling pressure, whereas outflows are often a sign of accumulation and a possible precursor to buying pressure.

Long-term accumulation rather than short-term speculation

The analyst added that the demand is not yet strong enough to restart a trend, “but it clearly indicates ongoing accumulation and is likely one of the factors behind the range formation that has been developing for several months now.”

Nick Ruck, director of LVRG Research, told Cointelegraph on Wednesday that the outflows signal “genuine long-term accumulation by investors rather than short-term speculation.”

The removal of Bitcoin from centralized platforms “showcases growing confidence in Bitcoin’s fundamentals amid current market conditions as holders indicate a lack of interest in selling to hedge against price volatility,” he added. 

Related: Rising US Treasury yields, war in Iran, rising inflation risk pressure Bitcoin price

Jeff Mei, the chief operations officer at crypto exchange BTSE, told Cointelegraph that crypto has outperformed stocks and gold since the beginning of the Iran war, “so it’s no surprise that investors are accumulating Bitcoin.”

“Crypto was oversold in the weeks and months prior to the conflict, so it makes sense that it hasn’t sold off as hard as stocks have,” he added. 

“This could also be an indication of Bitcoin emerging as a hedge against traditional stocks, as well as increased institutional ownership.” 

Bitcoin makes higher highs, higher lows 

Another indicator of potential trend formation is Bitcoin’s price making higher highs and higher lows, as it has done at least twice so far this month, according to TradingView.

In its weekly on-chain summary on Monday, Glassnode said that net unrealized profits and losses have improved slightly, “indicating a modest easing in unrealized losses across the market,” but cautioned that “sentiment is still under pressure despite tentative signs of stabilization.” 

Magazine: Banks want to run Vietnam’s crypto exchanges, Boyaa’s $70M BTC plan: Asia Express