FXOpen Trader

Yes, it becomes important for the traders to understand the importance of doing their trades on a Regular basis in the markets.

The Trading strategy that we are making use for doing our trades must be such that it is Reliable and Profitable.

We will need to first of all try to understand the Price Action Basics in the markets.

We will need to understand the importance of doing our trades at the correct timings for getting Best results.

I have been doing my Forex Trading with FXOpen Markets from the last 10 Years and they are very Reliable and Trustable International Forex Brokers

We will need to make use of such kind of trading systems that are less risky and more user friendly for us.

I have been doing my Forex Trading with FXOpen Markets from the last 10 Years and they are very Reliable and Trustable International Forex Brokers

I have been doing my Forex trading from the last 10 Years with the International and Reputed Forex Broker FXOpen Markets They are a True ECN Forex Brokers.

We will need to know and understand about the use of the Margins in doing our trades into the markets.

We will need to know and understand about the use of the Margins in doing our trades into the markets.

With the help of the Demo Trading accounts we can learn trading in a useful way without the Risks.

Turbo Charge your Trading with FXOpen Make better informed equity trading decisions. More than 50 built-in indicators and graphic tools provide technical analysis, quotes history, strategy testing, news and more. With our many years of experience, we know all the ins and outs of Forex trading. We know what it takes to achieve success in Forex and the pitfalls that may impede traders on their way there. We are open and like to share our experience and knowledge with traders to help them achieve the best possible results. FXOpen Analytics

GBP/USD and GBP/JPY Could Resume Increase GBP/USD started a fresh increase from the 1.3350 zone and climbed above 1.3600. GBP/JPY is also rising, but it is facing resistance near 156.50. Important Takeaways for GBP/USD and GBP/JPY The British Pound started a fresh increase above the 1.3400 and 1.3500 resistance levels against the US Dollar. There was a break below a key bullish trend line with support near 1.3550 on the hourly chart of GBP/USD. GBP/JPY also started a steady increase above the 155.00 and 155.50 resistance levels. There is a major bullish trend line forming with support near 155.55 on the hourly chart. GBP/USD Technical Analysis After a major decline, the British Pound found support near the 1.3350 zone against the US Dollar. The GBP/USD pair started a fresh increase above the 1.3400 and 1.3450 resistance levels to move into a positive zone. There was also a break above the 1.3550 zone and the 50 hourly simple moving average. It traded as high as 1.3627 on FXOpen and is currently correcting gains. GBP/USD Hourly Chart There was a decline below the 1.3600 level and the 50 hourly simple moving average. The pair traded below the 38.2% Fib retracement level of the upward move from the 1.3357 swing low to 1.3627 high. Besides, there was a break below a key bullish trend line with support near 1.3550 on the hourly chart of GBP/USD. On the downside, an immediate support is near the 1.3500 level. The next major support is near the 1.3590 level. It is near the 50% Fib retracement level of the upward move from the 1.3357 swing low to 1.3627 high. If there is a break below the 1.3590 support, the pair could test the 1.3550 support. If there are additional losses, the pair could decline towards the 1.3500 level. On the upside, the pair is facing resistance near the 1.3560 level. The next major hurdle is near 1.3625, above which the pair could surge towards 1.3750 in the near term. Read Full on FXOpen Company Blog...

AUD/USD and NZD/USD Target More Upsides AUD/USD started a fresh increase from the 0.6965 zone. NZD/USD is also rising and there was a clear move above the 0.6650 resistance. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh increase after it cleared 0.7000 against the US Dollar. There was a break above a couple of bullish patterns near 0.7070 and 0.7130 on the hourly chart of AUD/USD. NZD/USD also climbed higher after forming a base above the 0.6540 level. There is a major bullish trend line forming with support near 0.6650 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar found support near the 0.6965 zone against the US Dollar. The AUD/USD pair traded as low as 0.6967 on FXOpen before it started a fresh increase. There was a clear move above the 0.7000 and 0.7020 resistance levels. Besides, there was a break above a couple of bullish patterns near 0.7070 and 0.7130 on the hourly chart of AUD/USD. The pair surged above the 0.7150 level and the 50 hourly simple moving average. AUD/USD Hourly Chart It traded as high as 0.7168 and currently consolidating gains. On the downside, an initial support is near the 0.7130 level and the 50 hourly simple moving average. The next support is near the 23.6% Fib retracement level of the upward move from the 0.6967 swing low to 0.7168 high. If there is a downside break below the 0.7120 support, the pair could extend its decline towards the 0.7070 level. The 50% Fib retracement level of the upward move from the 0.6967 swing low to 0.7168 high is near the 0.7070 level to provide support. Any more downsides might send the pair toward the 0.7000 level. On the upside, the pair is facing resistance near the 0.7170 level. The next major resistance is near the 0.7200 level. A close above the 0.7200 level could start a steady increase in the near term. The next major resistance could be 0.7320. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD Technical Analysis – 03rd FEB, 2022 ETHUSD: Rounding Bottom Pattern Above $2,400 Ethereum has finished its bearish momentum seen last week after it touched a low of $2,183 on 24th January. In today’s European trading session, we can observe a mildly bullish trend, which is keeping ETH prices above the $2,600 handle. ETHUSD continues to maintain its consolidation above $2,600, and is on a recovery mode towards its important resistance level of $3,000. We can clearly see a rounding bottom pattern above the $2,400 handle which is a bullish pattern and signifies a bullish continuation forming an uptrend. ETH is now trading just above its pivot level of $2,667, and is moving in a consolidation channel. The price of ETHUSD is now testing its classic resistance levels of $2,681, and Fibonacci resistance level of $2,689, after which the path towards $3,000 will get cleared. The relative strength index is at 44 indicating a NEUTRAL market sentiment which is expected to continue for some time due to the global risk scenario. Most of the technical indicators are giving a NEUTRAL market signal. ETH is now trading above its 100 hourly and 200 hourly simple moving averages. Ether’s bullish momentum is seen above the $2400 mark Short-term range appears to be mildly BULLISH Williams percent range is indicating a NEUTRAL market Average true range is indicating LESS market volatility Ether: Mild Bullish Momentum seen above $2,400 In today’s European trading session, ETHUSD continues to move in a mildly bullish channel above the $2,400 handle. The commodity channel index is indicating a NEUTRAL market, and the overall sentiment has shifted towards the bullish market. The selling pressure has subsided, and a buying zone formation is seen which continues to push the prices upwards after every decline. We are looking at the important psychological resistance level of $3,000 which, if broken, will lead Ethereum into a strongly bullish momentum. The key support level to watch is $2,600, and as we can see that the prices continue to remain above these levels. ETH has lost -3.70% with a price change of -85.47$ in the past 24hrs, and has a trading volume of 14.684 billion USD. We can see an increase of 17.17% in the total trading volume in the last 24 hrs, which appears to be normal. The Week Ahead Ethereum is now on track towards recovery after the recent decline last week. We saw ETHUSD touching a high of $3,268 on 20th January, and if the current bullish momentum continues, we could see these levels again the next week. For now, the main contention is the falling interest of the global investors and the panic selling that is seen due to the tension at the Russia and Ukraine border. If the prices of ETHUSD continue to remain above the $2,600 handle, as we have seen today, it will confirm the bullish channel formation with an upside target of $2,900 to $3,200 the next week. The immediate short-term outlook for Ether has turned NEUTRAL, the medium-term outlook is mildly BULLISH, and the long-term outlook is BULLISH towards the $3,500 handle. We have detected an MA 10 and MA 5 crossover pattern above $2,664, which signifies a bullish trend reversal in the short-term. This week, Ether is expected to move in a range between $2,600 and $2,800; the next week, Ether is expected to trade at levels above $2,800. Technical Indicators: Ultimate oscillator: at 51.60 indicating a BUY Average directional change (14-day): at 23.93 indicating a BUY Highs/lows(14-day): at 0.00 indicating a NEUTRAL market StochRSI (14-day): at 71.08 indicating a BUY Read Full on FXOpen Company Blog...

EUR/USD Gains Momentum, USD/CHF Signals Downside Break EUR/USD started a recovery wave above 1.1220 and 1.1240. USD/CHF is declining and trading below the 0.9250 support zone. Important Takeaways for EUR/USD and USD/CHF The Euro started an upside correction above the 1.1250 resistance zone against the US Dollar. There was a break above a major bearish trend line with resistance near 1.1230 on the hourly chart of EUR/USD. USD/CHF started a downside correction from the 0.9340 resistance zone. There was a break below a key bullish trend line with support near 0.9295 on the hourly chart. EUR/USD Technical Analysis The Euro started a major decline from well above the 1.1350 level against the US Dollar. The EUR/USD pair traded below the 1.1250 support zone to move into a bearish zone. The pair traded as low as 1.1121 on FXOpen and recently started an upside correction. The pair was able to clear the 1.1200 resistance zone and the 50 hourly simple moving average. There was a move above the 50% Fib retracement level of the key decline from the 1.1359 swing high to 1.1121 low. Besides, there was a break above a major bearish trend line with resistance near 1.1230 on the hourly chart of EUR/USD. It is now trading above 1.1250 level and the 61.8% Fib retracement level of the key decline from the 1.1359 swing high to 1.1121 low. On the upside, an initial resistance is near the 1.1300 level. The next major resistance is near the 1.1320 zone. A clear upside break above the 1.1320 zone could open the doors for a steady move. The next major resistance sits near the 1.1420 level. On the downside, an immediate support is near the 1.1240 level. The next major support is near the 1.1220 level. A downside break below the 1.1220 support could start another decline. Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 01st FEB 2022 BTCUSD: Double Bottom Pattern Above $35,500 Bitcoin continues its bullish momentum this week having crossed the $38,000 handle in the Asian trading session today. The prices of bitcoin are surging due to the increase in trading volumes and a renewed interest of global investors to buy bitcoin at lower levels. BTCUSD touched an intraday high of $38,741 in the early Asian trading session, and an intraday low of $38,185. We can clearly see a double bottom pattern above the $35,500 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend. Stoch and Williams Percent Range are indicating an OVERBOUGHT level which means that in the immediate short-term, a decline in the prices is expected. The relative strength index is at 61 indicating a STRONG 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. The average true range is indicating a lesser market volatility with a bullish zone formation. Bitcoin bullish momentum continues above $35,500 StochRSI is indicating a NEUTRAL level The price is now trading just above its pivot level of $38,420 All of the moving averages are giving a STRONG BUY market signal Bitcoin: Bullish Momentum Above $35,500 Confirmed Bitcoin continues to gain traction in the European trading session today and is trading above the $38,000 handle. The immediate short-term outlook for bitcoin is bullish, the medium-term outlook is neutral, and the long-term outlook remains strongly bullish. The daily RSI is printing at 40 which means that long-term investors are still not coming into the markets. All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short-term, we should be expecting targets of $40k and $42k. The price of BTCUSD is now facing its classic resistance level of $38,529 and Fibonacci resistance level of $38,588, after which the path towards $40k will get cleared. In the last 24hrs, BTCUSD has gone UP by 3.75% with a price change of $1,392, and has a 24hr trading volume of USD 20.355 billion. We can see an increase of 23.68% in the trading volume as compared to yesterday. The total market capitalization of bitcoin still remains below the $800 billion mark and is currently at 730.045 billion USD. The Week Ahead The prices of bitcoin are ranging in between the levels of $38,900 and $35,500, and are due for an upwards correction towards the $40,000 handle. Many analysts believe that the recent decline happened due to the CME Futures gap. Bitcoin’s bullish momentum is expected to continue pushing its levels past the $40,000 handle this week, and the prices of BTCUSD will need to remain above the important support level of $37,000. Next week, we can expect more upsides in the range of $42,000 to $45,000. Technical Indicators: Commodity channel index (14-day): at 67.48 indicating a BUY Average directional change (14-day): at 43.04 indicating a BUY Rate of price change: at 0.255 indicating a BUY Moving averages convergence divergence (12,26): at 179.60 indicating a BUY Read Full on FXOpen Company Blog...

This Week’s Most Anticipated Central Banks’ Decisions The month's last trading day is here, and no important economic events are due. However, the week ahead is full of macro-events to move financial markets, such as three central banks announcing their policy decisions, and the NFP report scheduled for next Friday. The Australian dollar traders are on high alert since the Reserve Bank of Australia is scheduled to release its monetary policy tomorrow. Markets have priced in several hikes from the RBA. However, the central bank's narrative was rather dovish, as the Australian economy is affected by the Chinese zero-covid policy. Therefore, the forward guidance from the RBA is more important for the Australian dollar than the actual interest rate decision. While the RBA is not expected to move the cash rate, the Bank of England will likely hike at its next Thursday meeting. A 25 basis points rate hike is priced in, and so the British pound traders are on the lookout for the Bank of England's guidance regarding future rate hikes. On the same day as the Bank of England, the European Central Bank will hold its press conference and present its own monetary policy statement. This is one central bank in no hurry to raise the rates, which is extraordinary to consider in a rising inflation environment; the ECB holds the deposit facility rate below zero. Big Tech Giants to Report Quarterly Earnings This Week The week ahead is full of major US corporations presenting their Q4 2021 earnings (with the exception of Qualcomm that will present its Q1 2021 report). Here are some names to consider as their earnings may trigger important swings in the equity market: Alphabet – January 31, 2022 Facebook –February 1, 2022 Amazon – February 2, 2022 ExxonMobil – February 1, 2022 Eli Lilly – February 3, 2022 Qualcomm – Q1 2021 earnings – February 1, 2022 Honeywell – February 2, 2022 Ford – February 3, 2022 All in all, volatility is set to rise this week as momentum builds up for the NFP report release on Friday. Further improvements in the unemployment rate should make the Fed set foot on the path of more aggressive tightening. FXOpen Blog

GBP/USD and USD/CAD: Dollar Gains Traction GBP/USD started a major decline below the 1.3500 support. USD/CAD gained bullish momentum for a move above the 1.2700 level. Important Takeaways for GBP/USD and USD/CAD The British Pound started a fresh decline from the 1.3650 resistance zone. There is a key bearish trend line forming with resistance near 1.3430 on the hourly chart of GBP/USD. USD/CAD started a fresh increase from well below the 1.2500 zone. There is a major bullish trend line forming with support near 1.2660 on the hourly chart. GBP/USD Technical Analysis After struggling to clear the 1.3660 resistance zone, the British Pound found started a fresh decline against the US Dollar. GBP/USD traded below the 1.3550 support level to move into a bearish zone. The bears gained strength for a move below the 1.3500 level and the 50 hourly simple moving average. The pair even spiked below the 1.3400 level and traded as low as 1.3357 on FXOpen. It is now consolidating above the 1.3380 level. GBP/USD Hourly Chart An immediate resistance is near the 1.3420 level. It is near the 38.2% Fib retracement level of the downward move from the 1.3524 swing high to 1.3357 low. The first major resistance is near the 1.3440 level. There is also a key bearish trend line forming with resistance near 1.3430 on the hourly chart of GBP/USD. The trend line is near the 50% Fib retracement level of the downward move from the 1.3524 swing high to 1.3357 low. If there is an upside break above the 1.3440 zone, the pair could rise towards 1.3500. The next key resistance could be 1.3550, above which the pair could gain strength. On the downside, the first support is near the 1.3380 area. The first major support is near the 1.3350 level. If there is a break below 1.3350, the pair could extend its decline. The next key support is near the 1.3250 level. Any more losses might call for a test of the 1.3200 support. Read Full on FXOpen Company Blog...

Gold Price Nosedives While Crude Oil Price Extends Rally Gold price started a fresh decline from the $1,850 resistance zone. Crude oil price is rising and might continue to gain momentum above $87.00. Important Takeaways for Gold and Oil Gold price started a major decline from the $1,850 against the US Dollar. There was a break below a key contracting triangle with support near $1,840 on the hourly chart of gold. Crude oil price started a steady increase after it cleared the $85.00 resistance. There is a major bullish trend line forming with support near $86.20 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price attempted a key upside break above $1,850 against the US Dollar. However, the price failed to gain strength above $1,850 and started a major decline. There was a clear move below the $1,820 level and the 50 hourly simple moving average. Besides, there was a break below a key contracting triangle with support near $1,840 on the hourly chart of gold. Gold Price Hourly Chart The price even declined below the $1,800 level and settled below the 50 hourly simple moving average. A low is formed near $1,791 and is currently consolidating losses. On the upside, the price is facing resistance near the $1,800 level. The first major resistance is near the $1,805 level. It is near the 23.6% Fib retracement level of the downward move from the $1,853 swing high to $1,791 low. The main resistance is now forming near the $1,820 level. The 50% Fib retracement level of the downward move from the $1,853 swing high to $1,791 low is also near the $1,820 level. A close above the $1,820 level could open the doors for a steady increase towards $1,840. The next major resistance sits near the $1,850 level. On the downside, an initial support is near the $1,790 level. The first major support is near the $1,780 level. A downside break below the $1,780 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,750 support. Read Full on FXOpen Company Blog...

Trading Hours for Hong Kong’s Lunar New Year Dear Traders, Please be aware of the trading schedule changes on the Hong Kong Lunar New Year for the 31 January — 4 February, 2022, period (all times are GMT+2): Indices CDFs: January 31 Hong Kong 50 (#HSI) - trading ends at 06:00. February 1-3 Hong Kong 50 (#HSI) - trading closed. February 4 Hong Kong 50 (#HSI) - trading starts at 03:15. All other financial instruments will be traded without changes. Please consider this information as you plan your trading. FXOpen Company News

ETHUSD and LTCUSD Technical Analysis – 27th JAN, 2022 ETHUSD – Bearish Engulfing Pattern Below $2700 Ethereum started a major bearish correction from its highs of 3268 reached on 20th January. We can see that after a mild bullish correction wave, the bearish trend is back which continues to push down the prices of Ethereum below the $2500 handle in the European Trading session today. ETHUSD touched an intraday low of 2355 in the Asian trading session today after which we can see some consolidation in its prices above the $2300 handle. We can clearly see a Bearish Engulfing Pattern below the $2700 handle which is a bearish pattern and signifies a potential shift in the market direction towards a Downtrend. ETH is now trading just above its Pivot levels of 2403 and is moving in a Consolidation Channel. The price of ETHUSD is now testing its Classic support levels of 2358 and Fibonacci support levels of 2392 after which the path towards 2200 will get cleared. Relative Strength Index is at 41 indicating a WEAK demand for the Ethereum and the continuation of the Selling pressure in the markets. Most of the of the Technical indicators are giving a STRONG SELL Signal. ETH is now trading Below its both the 100 Hourly and 200 Hourly Simple Moving Averages. Ether Bearish momentum is seen below the $2700 mark. Short-term range appears to be BEARISH. Ultimate Oscillator is indicating a NEUTRAL market. Average True Range is indicating LESS Market Volatility. Ether Bearish Momentum seen Below $2700 ETHUSD continues to move into a Mild Bearish channel below the $2700 handle in the European Trading session today. Average Directional Change is indicating a NEUTRAL market, and the overall sentiment is shifted towards the Bearish market. The heavy selling pressure in Ethereum and its subsequent liquidation by the long-term investors is due to the fear of a Russian Attack on Ukraine and its broader implications on the Crypto markets. We are now looking at the key support levels of $2300 which if broken would push down the prices of Ethereum towards the $2200 handle. ETH has lost -2.71% with a price change of -66.95$ in the past 24hrs and has a trading volume of 22.749 Billion USD. We can see an Increase of 42.78% in the total trading volume in last 24 hrs. which is due to the heavy selling seen after the bullish momentum failed. The Week Ahead Ethereum is now approaching its important support levels of $2300 which will decide whether we will see a Bullish reversal in the markets. If the prices of ETHUSD continue to remain above the $2300 handle as we can see today, it will signify a Bullish reversal with an Upside target of $2500 to $2800 in the next week. The immediate short-term outlook for the Ether has turned as BEARISH, the Medium term outlook is NEUTRAL, and the Long term outlook for Ether is BULLISH towards the $3000 handle. We have detected an MA 5 crossover pattern above 2398 levels which signifies a Bullish Trend reversal in the short term. In this week Ether is expected to move in a range between the $2300 and $2600 and in the next week Ether is expected to trade at levels above $2600. Technical Indicators: Rate of Price Change: It is at -7.782 indicating a SELL. STOCH (9,6): It is at 23.42 indicating a SELL. Moving Averages Convergence Divergence (12,26): It is at -24.08 indicating a SELL. STOCHRSI (14): It is at 25.04 indicating a SELL. Read Full on FXOpen Company Blog...

FXOpen’s 2021 ForexCup Trading Championship Results, FTC 2022 Announced After a successful almost year-long run, the ForexCup Trading Championship came to a close on December 31, 2021. Out of nearly 30 very geographically diverse competing accounts, five demonstrated especially remarkable results, with the first-place winner receiving a gain of over 1091%, and claiming his $50,000 prize together with a commemorative crystal trophy. Here are the final top-5 standings of the FTC 2021, coming from all over the world: Emirhan Gören: 1091.15% (winner of $50,000 and a crystal trophy) Prieur Du Plessis: 185.37% (received a commemorative crystal trophy) Eduardo Soares Bogosian: 61.74% (received a commemorative crystal trophy) Toivo Valtteri Melkko: 49.24% Julio Martins Leitao: 21.88% The competition is judged based on the percentage gain made by traders thanks to decisions and returns of each individual trader rather than on the amount deposited. As he accepted his prize, Mr Gören commented on his experience in the FTC 2021: “It's an indescribable feeling. I'm very proud of myself and the strategies I've chosen, and I'm also grateful to all my fellow traders who participated in the championship. And of course, I am grateful to ForexCup for organizing this event, and to FXOpen for providing full support and the best conditions a trader can meet among brokerages.” FXOpen are delighted to announce FTC 2022. Registration for the new contest is now open. The three previous year winners, Mr Gören, Mr Du Plessis, and Mr Bogosian, have already entered the new FTC, along with about a dozen new participants. When educational contest ForexCup organizers joined forces with FXOpen to create the FTC, their objective was to allow the most experienced and skilled traders to demonstrate their mastery in a fair, transparent, and inclusive environment — and then share their knowledge and stories, thus inspiring and encouraging an entirely new generation of traders. We can now confidently say that the initiative was embraced enthusiastically by the community, and the new FTC tradition is a go. Gary Thomson, Chief Operating Officer of FXOpen UK, has a few words to share with traders and potential FTC winners: "First, we would like to extend our congratulations to the winners and participants alike, and thank them for their commitment to their craft. You are leading by example, proving to the community that the sky’s the limit and opportunities to achieve excellence in trading abound. As the main partners of the contest, we were delighted to see that the FXOpen brand was able to attract so many talented experts in trading and motivate them to do their best. Could you be our next champion? Registration for FTC 2022 is open!" ForexCup News

EUR/USD Faces Hurdles, USD/JPY Could Recover EUR/USD started a fresh decline from well above 1.1380. USD/JPY remained in a bearish zone and settled below the 114.50 pivot level. Important Takeaways for EUR/USD and USD/JPY The Euro started a fresh decline after there was no close above the 1.1420 level. There is a key bearish trend line forming with resistance near 1.1308 on the hourly chart of EUR/USD. USD/JPY started a fresh decline from well above the 114.50 pivot zone. There is a short-term rising channel forming with resistance near 114.20 on the hourly chart. EUR/USD Technical Analysis Recently, the Euro failed to clear the 1.1420 zone against the US Dollar. The EUR/USD pair started a fresh decline and traded below the 1.1350 support zone. The pair even broke the 1.1320 level and settled below the 50 hourly simple moving average. A low was formed near 1.1263 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 1.1334 swing high to 1.1263 low. EUR/USD Hourly Chart An immediate resistance on the upside is near the 1.1305 level. There is also a key bearish trend line forming with resistance near 1.1308 on the hourly chart of EUR/USD. The trend line is near the 61.8% Fib retracement level of the recent decline from the 1.1334 swing high to 1.1263 low. The next major resistance is near the 1.1320 level. The main resistance is near the 1.1350 level and the 50 hourly simple moving average. If there is no break above 1.1308, the pair might start a fresh decline. An immediate support is near the 1.1288. The next major support is near 1.1265, below which the pair could drop to 1.1220 in the near term. Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 25th JAN 2022 BTCUSD – Double Bottom Pattern Above $32000 Bitcoin had a major bearish correction after touching a high of 43296 on 20th January, the prices continued to decline touching a low of 33053 yesterday. This sharp drop in the levels of Bitcoin was due to heavy selling in the markets coupled with the fears of a Russian attack on Ukraine. Today BTCUSD has entered into a mild bullish momentum and continues to remain above the $36000 handle in the European Trading session. We can clearly see a Double Bottom Pattern above the $32000 handle which is a Bullish reversal pattern because it signifies the end of a downtrend and a shift towards an Uptrend. STOCH and Williams Percent Range are indicating OVERBOUGHT levels which means that in the immediate short term a decline in the prices is expected. Relative Strength Index is at 55 indicating a STRONG demand for the Bitcoin at the current market levels. Bitcoin is now moving Above its 100 hourly Simple Moving average and below its 200 hourly Exponential Moving averages. Average True Range is indicating Less Market Volatility with a Bullish zone formation. Bitcoin Trend Reversal is seen Above $32000. STOCHRSI is Indicating OVERSOLD Levels. The price is now trading just Above its Pivot Levels of $36246. Most of the Moving Averages are giving a BUY market signal. Bitcoin Bullish Reversal Above $32000 Confirmed Bitcoin is forming a Bullish Reversal pattern as the prices continue to Uptick in the European Trading session today. The immediate short-term outlook for Bitcoin is Bullish, Medium-term outlook is Neutral, and the long-term outlook remains Strong Bullish. All of the Major Technical Indicators are giving a BUY Signal, which means that in the immediate short term we are expecting targets of 38000 and 40000. The price of BTCUSD is now facing its Classic resistance levels of 36426 and Fibonacci resistance levels of 36735 after which the path towards 38000 will get cleared. In the last 24hrs BTCUSD is UP by 4.67% by 1619$ and has a 24hr trading volume of USD 41.650 Billion. We can see an Increase of 61.22% in the Trading volume as compared to yesterday. This increase in the Trading volume of BTC is due to the increased Buying pressure after the recent decline, which saw many new investors coming into the markets. The Week Ahead The prices of Bitcoin entered into the consolidation phase after touching the $33000 handle and is now moving into a Mild Bullish momentum towards the $37000 levels. We can expect more Upsides in the range of $38000 to $40000 in this week. The most important factor that is facing the Global investors is the news of a Russian attack on the Ukraine and its effects on the Crypto markets. Since the liquidity fear is the most in the Cryptocurrencies, we saw a major drop in the levels of Bitcoin, which now appears to have stabilized. The Crypto Winter The prices of Bitcoin have declined from its November 2021 highs of $69000 by more than 50% which has resulted in the mass erosion of the investors wealth globally. At present the Total market capitalization of Bitcoin stands at 685 Billion USD. Many of the analysts have coined this Major decline as the Crypto Winter, which appears to be a difficult and challenging time for the Crypto Investors. Technical Indicators: Relative Strength Index (14days): It is at 55.72 indicating a BUY. Average Directional Change (14days): It is at 22.27 indicating a BUY. Rate of Price Change: It is at 0.432 indicating a BUY. Moving Averages Convergence Divergence (12,26): It is at 161.80 indicating a BUY. Read Full on FXOpen Company Blog...