FXOpen Trader

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Forex trading is a type of business that will require more Efforts from the Traders to be able to obtain the Profits.

We should try to do our trading with minimal amount of Mistakes so that the Profits can start to come to us.

In the business of Forex trading it is very important to use Correct Trading Systems.

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If the Risks that are present in the markets can start to come down we can get more Income.

Forex trading will require more Efforts so we will have to understand this and start doing our trades in the Markets.

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We will have to first of all understand that doing our trades in the markets is not going to be easy for us anyway.

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We must make use of such kind of Indicators that are easy for us to use and make the Profits.

If we are able to earn income we must also understand that doing our trades is not going to be easy for us.

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GBP/USD and EUR/GBP At Risk of More Losses GBP/USD is struggling to clear the 1.3500 resistance zone. EUR/GBP is declining and remains at a risk of more losses below the 0.8380 support. Important Takeaways for GBP/USD and EUR/GBP The British Pound is facing resistance near the 1.3500 and 1.3510 levels. There was a break below a key bullish trend line with support near 1.3460 on the hourly chart of GBP/USD. EUR/GBP started a fresh decline from well above the 0.8550 pivot level. There is a major bearish trend line forming with resistance near 0.8420 on the hourly chart. GBP/USD Technical Analysis The British Pound found support near 1.3350 and started a decent recovery the US Dollar. The GBP/USD pair climbed higher above the 1.3400 and 1.3450 levels. The pair even spiked above the 1.3500 level, but there was no upside continuation. A high is formed near 1.3512 on FXOpen and the pair is now declining. The pair traded below the 1.3480 and 1.3450 support levels to enter a bearish zone. GBP/USD Hourly Chart There was a break below a key bullish trend line with support near 1.3460 on the hourly chart of GBP/USD. The pair declined below the 50% Fib retracement level of the upward move from the 1.3353 swing low to 1.3512 high. The pair is now trading below the 1.3450 and the 50 hourly simple moving average. On the upside, an initial resistance is near the 1.3450 level. If there is an upside break above the 1.3450 resistance and the 50 hourly SMA, the price could surpass 1.3480. The main resistance is near the 1.3500 zone. Therefore, a proper break above the 1.3500 resistance could open the doors for a steady increase. The next major resistance for the bulls could be 1.3600. If not, the pair could extend losses below 1.3425. An immediate support is near the 1.3415 level. It is near the 61.8% Fib retracement level of the upward move from the 1.3353 swing low to 1.3512 high. The first key support is near the 1.3400 level. Any more losses could lead the pair towards the 1.3350 support zone. The next major support sits near the 1.3250 level. Read Full on FXOpen Company Blog...

Gold Price and Crude Oil Price Could Start Fresh Increase Gold price is trading in a positive zone above the $1,850 support. Crude oil price must clear $80.00 to start a fresh increase in the near term. Important Takeaways for Gold and Oil Gold price started a decent increase above the $1,850 resistance against the US Dollar. There is a key contracting triangle forming with resistance near $1,865 on the hourly chart of gold. Crude oil price corrected lower below $80.00 and tested the $76.50 zone. There was a break above a key bearish trend line with resistance near $78.50 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price started a fresh increase above the $1,820 resistance level against the US Dollar. The price gained pace and it was able to settle above the $1,842 resistance zone. The price even settled above the $1,850 level and the 50 hourly simple moving average. Finally, there was a break above the $1,870 level. A high was formed near $1,877 on FXOpen and the price corrected lower. There was a break below the $1,865 level, but the bulls remained active near $1,850. A low is formed near $1,850 and the price is now rising. The price is back above the $1,860 level and the 50 hourly simple moving average. It also surpassed the 50% Fib retracement level of the recent decline from the $1,871 swing high to $1,850 low. An immediate resistance on the upside is near the $1,863 level. It is near the 61.8% Fib retracement level of the recent decline from the $1,871 swing high to $1,850 low. The first major resistance is near the $1,865 level. There is also a key contracting triangle forming with resistance near $1,865 on the hourly chart of gold. The main resistance is near the $1,870 level. A close above the $1,870 level could open the doors for a steady increase towards $1,885. The next major resistance sits near the $1,900 level. On the downside, an initial support is near the $1,855 level. The first major support is near the $1,850 level. A downside break below the $1,850 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,820 support. Read Full on FXOpen Company Blog...

Trading Hours Schedule for 2021 Thanksgiving Day Dear Traders, Please be aware of the trading schedule changes for the 2021 Thanksgiving Day, November 25-26 (times given are GMT+2): Thursday, November 25 Metal CFDs: XAUUSD (GOLD vs. US dollar) — trading ends at 20:00 XAGUSD (SILVER vs. US dollar) — trading ends at 20:00 Commodities CFD: XBRUSD (UK Brent) — trading ends at 19:45 XTIUSD (US Crude) — trading ends at 19:45 XNGUSD (US Natural Gas) — trading ends at 19:45 Indices: #J225 (Japan 225) — trading ends at 20:00 #SPXm (US SPX 500 (Mini)) — trading ends at 20:00 #NDXm (US Tech 100 (Mini)) — trading ends at 20:00 #WS30m (Wall Street 30 (Mini)) — trading ends at 20:00 Stock CFDs: trading closed. Friday, November 26th, 2021 Metal CFDs: XAUUSD (GOLD vs. US dollar) — trading ends at 20:45 XAGUSD (SILVER vs. US dollar) — trading ends at 20:45 Commodities CFD: XBRUSD (UK Brent) — trading ends at 20:30 XTIUSD (US Crude) — trading ends at 20:30 XNGUSD (US Natural Gas) — trading ends at 20:30 Indices: #J225 (Japan 225) — trading ends at 20:15 #SPXm (US SPX 500 (Mini)) — trading ends at 20:15 #NDXm (US Tech 100 (Mini)) — trading ends at 20:15 #WS30m (Wall Street 30 (Mini)) — trading ends at 20:15 Stock CFD: trading ends at 20:00. All other financial instruments will be traded as usual. Please consider this information when planning your trading for the upcoming week. FXOpen Company News

ETHUSD and LTCUSD Technical Analysis – 18th NOV, 2021 ETHUSD: Descending Triangle Pattern Below $4,300 Ethereum failed to continue its bullish momentum this week and after touching an intraday high of $4,765 on 16th Nov, started a steep decline towards the $4,300 handle. We can see a descending triangle pattern below $4,300 which signifies that the downtrend is expected to continue as more and more traders are entering short positions in Ethereum in hopes of making profit from a falling market. ETHUSD touched an intraday low of $4,118 in the European trading session today, after which the prices stabilized and continue to trade above the $4,200 level. StochRSI is indicating OVERSOLD level, which means that the market is in a position to enter into a consolidation phase, and the prices will continue to move in a narrow range between $4,200 and $4,400. ETH is now trading below its pivot level of $4,243 and moving in continuation of a bearish trend. The price of ETHUSD is now testing its classic support level of $4,197 and its Fibonacci support level of $4,213. After this, the path towards $4,000 will get cleared. ETHUSD is facing heavy downwards pressure and has already broken its key support level of $4,240 today. All the major technical indicators are giving a STRONG SELL signal. ETH is now trading below both the 100 hourly and 200 hourly simple moving averages. Ethereum is in continuation of a bearish channel Short-term range appears to be bearish for ETHUSD All the moving averages are giving a STRONG SELL signal Williams percent range is indicating OVERSOLD markets Ether Bearish Trend Continuation Below $4,300 ETHUSD has been moving in a steep downturn since yesterday, and this is a short-term bearish reversal of the market. The medium to long-term outlook for ETH remains bullish. The present market condition offers short-term traders to enter into SELL positions, with the immediate targets of $4,100 and $4,000. The price of ETHUSD will need to remain above the important psychological support level of $4,000 this week to mark the reversal of this bearish channel. The average true range is indicating low market volatility as we can see a drop of 26% in the trading volume as compared to yesterday. This means that fresh buyers are not willing to enter the markets given the bearish nature of the trend. ETH has gained +1.15% with a price change of +47.70$ in the past 24hrs and has a trading volume of 18.471 billion USD. The Week Ahead Ether is expected to continue this downtrend this week and touch the level of $4,100 or even break the $4,000 handle. Since the long-term bullish tone is still present, the dips below $4,000 will remain well supported and will continue to push the prices higher. StochRSI is OVERSOLD which indicates that the prices are going to REVERSE very soon. The current level is very attractive for entering into the markets with short-term position and the target of $4,000. The price of ETHUSD has already broken its Camarilla support level of $4,234 and further downsides are expected below $4,200 in the coming days. Next week, we can expect a reversal of this bearish trend. Technical Indicators: Stoch (9,6): at 26.571 indicating a SELL Relative strength index (14-day): at 43.318 indicating a SELL Ultimate oscillator: at 39.654 indicating a SELL Rate of price change: at -0.687 indicating a SELL Read Full on FXOpen Company Blog...