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GBP/USD and USD/CAD Could Extend Gains GBP/USD started a steady increase and surpassed the 1.3600 resistance. USD/CAD is holding gains above 1.2700 and eyeing more gains. Important Takeaways for GBP/USD and USD/CAD The British Pound started a fresh increase from the 1.3500 support zone. There is a key bullish trend line forming with support near 1.3590 on the hourly chart of GBP/USD. USD/CAD seems to be facing resistance near the 1.2760 and 1.2780 resistance levels. There is a major bearish trend line forming with resistance near 1.2755 on the hourly chart. GBP/USD Technical Analysis The British Pound formed a strong support base above the 1.3500 level against the US Dollar. As a result, the GBP/USD pair started a decent increase and it broke many hurdles near 1.3550. The pair gained pace above the 1.3580 level and the 50 hourly simple moving average. The pair even spiked above the 1.3600 resistance zone. A high is formed near 1.3642 on FXOpen and the pair is now consolidating gains. GBP/USD Hourly Chart There was a move below the 23.6% Fib retracement level of the upward move from the 1.3486 swing low to 1.3642 high. An initial support on the downside is near the 1.3605 level and the 50 hourly simple moving average. The main support is now forming near the 1.3590 level. There is also a key bullish trend line forming with support near 1.3590 on the hourly chart of GBP/USD. The trend line is also above the 50% Fib retracement level of the upward move from the 1.3486 swing low to 1.3642 high. If there is a downside break, GBP/USD might test the 1.3520 support. On the upside, the pair must settle above the 1.3630 level. The next major resistance is near the 1.3650 level. Any more gains could lead the pair towards the 1.3800 barrier in the near term. An intermediate resistance could be 1.3740. Read Full on FXOpen Company Blog...

It's Hard Work not LUCK Understanding Market Chaos Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members. Learn Forex Trading with FXOpen Forum

Success Is Not for the Lazy Understanding Trend Reversal Pattern Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members. Learn Forex Trading with FXOpen Forum

AUD/USD and NZD/USD Target Additional Gain AUD/USD started a fresh increase from the 0.7085 zone. NZD/USD is also rising and there was a clear move above the 0.6680 resistance. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh increase after it cleared 0.7100 against the US Dollar. There is a key bullish trend line forming with support near 0.7180 on the hourly chart of AUD/USD. NZD/USD also climbed higher after forming a base above the 0.6600 level. There is a major bullish trend line forming with support near 0.6695 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar found support near the 0.7080 zone against the US Dollar. The AUD/USD pair traded as low as 0.7086 on FXOpen before it started a fresh increase. There was a clear move above the 0.7100 and 0.7120 resistance levels. The pair surged above the 0.7180 level and the 50 hourly simple moving average. During the increase, there was a clear move above the 50% Fib retracement level of the downward move from the 0.7248 swing high to 0.7086 low. AUD/USD Hourly Chart Besides, there is a key bullish trend line forming with support near 0.7180 on the hourly chart of AUD/USD. The pair is now facing resistance near the 0.7210 level. The 76.4% Fib retracement level of the downward move from the 0.7248 swing high to 0.7086 low is also near the 0.7210 level. The next major resistance is near the 0.7250 level. A close above the 0.7250 level could start a steady increase in the near term. The next major resistance could be 0.7300. On the downside, an initial support is near the 0.7180 level and the 50 hourly simple moving average. The next support is near the 0.7165. If there is a downside break below the 0.7165 support, the pair could extend its decline towards the 0.7120 level. Any more downsides might send the pair toward the 0.7080 level. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD Technical Analysis – 17th FEB, 2022 ETHUSD: Bullish Engulfing Pattern Above $2,800 Ethereum was unable to sustain its Bullish momentum last week, and after touching a high of $3,280 on February 10, it started to decline with a low of $2,837 on February 13. The selling we saw in ETHUSD occurred due to a broad-based liquidation of the assets into the USD following the fears (which now seem to have subsided) of a war between Russia and Ukraine. ETHUSD continues to maintain its consolidation above $3,000 and is currently trading at $3,126 in the European trading session. We can clearly see a bullish engulfing pattern above the $2,800 handle which signifies a bullish continuation and formation of an uptrend. ETH is now trading just above its pivot level of $3,100 and is moving in a consolidation channel. The price of ETHUSD is now testing its classic resistance level of $3,119, and Fibonacci resistance level of $3,130 after which the path towards $3,300 will get cleared. The relative strength index is at 52 indicating a NEUTRAL market sentiment which is expected to shift towards a bullish sentiment. Some of the technical indicators are giving a BUY market signal, with some of the moving averages giving a BUY signal as well, and we are now looking at the levels of $3,300 to $3,500 in the short-term range. ETH is now trading above its 100 hourly and 200 hourly simple moving averages. Ether’s bullish reversal seen above the $2,800 mark Short-term range appears to be Mild BULLISH High/ Lows is indicating a NEUTRAL market Average True Range is indicating LESS Market Volatility Ether: Bullish Reversal Seen Above $2,800 In today’s European trading session, ETHUSD has been moving into a consolidation channel above the $3,000 handle. Both the commodity channel index and Stoch are indicating a NEUTRAL level which means that markets are expected to remain in the consolidation phase for some time. The monthly relative strength index is printing at 58 which also indicates a stronger demand for Ethereum in the long-time frame. The prices of Ethereum remain above the 50-day SMA of $3,058, which further validates the prevailing bullish sentiments in the markets. The key support level to watch is $3,000, and a key resistance level is $3,200 for this week. ETH has declined -1.35% with a price change of 42.73$ in the past 24hrs, and has a trading volume of 13.984 billion USD. We can see a 5.36% increase in the total trading volume in the last 24 hrs which appears to be normal. The Week Ahead Ethereum has once again started its bullish moves against the US dollar after declining below the $3,000 handle. We can see that this upside projection is strong and will result in crossing $3,300 this week. The ongoing Russia-Ukraine crisis is also affecting global cryptocurrency markets including Ethereum because of its effects on the USD which is seen as a safe haven investment. If the prices of ETHUSD continue to remain above the $3,000 handle as we can see today, it would start the next leg of its bullish move towards $3,400 the next week. The immediate short-term outlook for Ether has turned BULLISH; the medium-term outlook has turned NEUTRAL; and the long-term outlook is BULLISH towards the $3,500 handle. This week, Ether is expected to move in a range between $3000 and $3300, and the next week, to trade at levels above $3,300. Technical Indicators: The moving averages convergence divergence (12,26): at 15.75 indicating a BUY The average directional change (14-day): at 41.31 indicating a BUY The rate of price change: at 6.54 indicating a BUY Bull/Bear power (13-day): at 63.65 indicating a BUY Read Full on FXOpen Company Blog...

Confirmed: FXOpen Is Your #1 ECN Broker FXOpen now holds the title of the best ECN broker of 2021, according to the IAFT, after thousands of traders singled out its expertise in the sphere and cemented this status by giving it a 100% positive rating. As 2021 was approaching its end, the International Association of Forex traders (aka the Traders Union) held a unique voting event, calling members of its 200,000-some audience to render their opinion and name the best broker in each of a variety of categories. FXOpen made a name for itself as the ECN trading pioneer: in 2009, our company’s clients gained access to the ECN market through MetaTrader which was made possible thanks to the in-house bridge technology. Fast-forward to 2022, and FXOpen is offering ECN-integrated MT4, MT5, and the unique TickTrader trading platforms. Our clients can freely follow any of FXOpen’s best-performing and most reliable ECN PAMM accounts. Here is why the Traders Union audience considers FXOpen a leader among dozens of other renowned top ECN brokers: Trusted by over a million traders worldwide, FXOpen lets its clients benefit from the industry's most competitive raw market spreads from 0 pips, lowest trading commissions, and seamless order execution. Why choose an ECN trading account with us? No dealing desk: the system matches your order against an opposite order from another participant of the ECN. FXOpen does not trade against you, there is no conflict of interest. Choose any trading style: scalping, news-trading, automated HFT, EAs. Affordability: $100 minimum deposit, 0.01 lot and commissions starting from 1.5 USD per standard lot. Trade with our TickTrader platform: choose either Gross or Net account type, depending on your strategy. Additionally, FXOpen was highly evaluated by the Traders Union’s audience in the “Best European broker” category, and holds a commendable overall 8.2/10 rating according to Traders Union expert evaluation. So why wait? Let FXOpen facilitate your trading in 2022 and beyond — Register your ECN Trading Account today. FXOpen Company News

The interview with Emirhan Goren - FTC2021 Winner Emirhan Goren Watch It on YouTube His ECN account: ForexCup News

EUR/USD and USD/JPY Near Crucial Juncture EUR/USD started a fresh decline from well above 1.1450. USD/JPY is attempting recovery and facing a strong resistance near 115.80. Important Takeaways for EUR/USD and USD/JPY The Euro started a fresh decline after there was no close above the 1.1480 level. There is a key bearish trend line forming with resistance near 1.1350 on the hourly chart of EUR/USD. USD/JPY started a recovery wave after it found support near the 115.00 zone. There is a major bearish trend line forming with resistance near 115.80 on the hourly chart. EUR/USD Technical Analysis This past week, the Euro failed to clear the 1.1480 zone against the US Dollar. The EUR/USD pair started a fresh decline and traded below the 1.1420 support zone. The pair even broke the 1.1350 level and settled below the 50 hourly simple moving average. A low was formed near 1.1280 on FXOpen and the pair is now correcting higher. There was a move above the 50% Fib retracement level of the recent decline from the 1.1417 swing high to 1.1280 low. EUR/USD Hourly Chart An immediate resistance on the upside is near the 1.1350 level. There is also a key bearish trend line forming with resistance near 1.1350 on the hourly chart of EUR/USD. The trend line is near the 61.8% Fib retracement level of the recent decline from the 1.1417 swing high to 1.1280 low. The next major resistance is near the 1.1380 level. The main resistance is near the 1.1420 level. If there is no break above 1.1350, the pair might start a fresh decline. An immediate support is near the 1.1320 and the 50 hourly simple moving average. The next major support is near 1.1280, below which the pair could drop to 1.1225 in the near term. Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 15th FEB 2022 BTCUSD: Bullish Engulfing Pattern Above $41,500 Bitcoin touched a high of $45,807 on February 10, after which it started to decline touching a low of $41,601 in the Asian trading session today. Now the prices have entered into a bullish correction phase and continue to remain above the $43,000 handle in the European trading session. We can see a recovery in the prices of bitcoin towards $44,000,and this fresh wave of correction is expected to push up its prices towards $47,000. We can clearly see a bullish engulfing pattern above the $41,500 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend. Both Stoch and StochRSI are indicating an OVERBOUGHT level, meaning that in the immediate short-term, a decline in the prices is expected. The relative strength index is at 71 indicating a STRONGER demand for bitcoin at the current market levels. Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving average. All of the major technical Indicators are giving a STRONG BUY signal, which means that in the immediate short-term we are expecting targets of $45,000 and $47,000. The average true range is indicating lesser market volatility with a strong bullish momentum. A bitcoin bullish reversal is observed above $41,500 The Williams percent range is indicating an OVERBOUGHT level The price is now trading just below its pivot level of $43,940 All of the moving averages are giving a STRONG BUY market signal Bitcoin: Bullish Reversal Seen Above $41,500 Bitcoin continues to move in a strong bullish momentum after its decline towards the $41,600 level, and is now moving into a bullish zone formation above $43,000. The immediate short-term outlook for bitcoin is strongly bullish; the medium-term outlook is neutral; the long-term outlook remains bullish. We can see that the daily 100-day and 200-day simple moving averages are indicating a trend reversal at the levels of $48,177 and 49,416, which means that after touching these levels a contraction/ correction in bitcoin prices is expected. The price of BTCUSD is now facing its classic resistance level of $44,233, and Fibonacci resistance level of $44,452, after which the path towards $47,000 will get cleared. Bitcoin has already managed to cross its initial resistance zone of $43,800, and is moving upwards closer to $44,000. In the last 24hrs, BTCUSD has gone UP by 4.58% with a price change of 1,926$, and has a 24hr trading volume of USD 24.019 billion. We can see an increase of 34.58% in the trading volume as compared to yesterday, due to increased buying pressure in the global cryptocurrency markets. The Week Ahead The prices of bitcoin are at present moving in a correction phase towards the $44,000 handle. This also indicates that now we are looking at a fresh rally into the markets towards $50,000. The prices of bitcoin remained under pressure last week due to the fresh concerns over the Russia-Ukraine border tensions, which, to date, has resulted in the US dollar getting stronger due to safe haven demands and the price of BTCUSD going down. In the immediate short-term, bitcoin’s bullish momentum is expected to continue pushing past the $47,000 handle this week. The price of BTCUSD will need to remain above the important support level of $43,000 this week, and we can expect more upsides in the range of $45,000 to $47,000 the next week. Bitcoin vs GOLD Traditionally, gold has been considered a safe preferred by global investors for long-term holdings of their wealth. But now we can see a shift in the sentiment towards bitcoin as a viable digital gold, thanks to higher appreciation and gains. Crypto investors now prefer buying bitcoin at lower levels, and we can see that now the total market capitalization of bitcoin stands at 832 billion USD. Technical Indicators: The commodity channel index (14-day): at 103.36 indicating a BUY The average directional change (14-day): at 29.93 indicating a BUY The rate of price change: at 4.306 indicating a BUY The moving averages convergence divergence (12,26): at 414.10 indicating a BUY Read Full on FXOpen Company Blog...