FXOpen Trader

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GBP/USD Faces Hurdle While GBP/JPY Eyes Recovery GBP/USD extended its decline below the 1.3500 support zone before correcting higher. GBP/JPY is rising and it could gain pace if it clears the 150.60 level. Important Takeaways for GBP/USD and GBP/JPY The British Pound traded as low as 1.3411 before it started a fresh increase against the US Dollar. There was a break above a key bearish trend line with resistance near 1.3455 on the hourly chart of GBP/USD. GBP/JPY found support near 149.20 and started a decent increase. There is a major bearish trend line forming with resistance near 150.60 on the hourly chart. GBP/USD Technical Analysis This past week, the British Pound saw a drop below the 1.3650 support level against the US Dollar. The GBP/USD pair even broke the 1.3600 and 1.3500 support levels. It traded as low as 1.3411 on FXOpen before it started a fresh increase. There was a steady increase above the 1.3450 resistance level. The price surpassed the 1.3500 resistance level and the 50 hourly simple moving average. GBP/USD Hourly Chart There was also a break above a key bearish trend line with resistance near 1.3455 on the hourly chart of GBP/USD. Besides, the pair surpassed the 38.2% Fib retracement level of the key decline from the 1.3717 swing high to 1.3411 low. The pair even climbed above 1.3550 and retested the 1.3560 resistance levels. However, the pair is now facing resistance near the 1.3575 level. It is also struggling near the 50% Fib retracement level of the key decline from the 1.3717 swing high to 1.3411 low. A close above the 1.3575 level could open the doors for more gains. The next major hurdle is near 1.3620, above which the pair could surge towards 1.3750. An immediate support is near the 1.3525 level. The next major support is near the 1.3480 level and the 50 hourly simple moving average. If there is a break below the 1.3480 support, the pair could test the 1.3420 support. If there are additional losses, the pair could decline towards the 1.3350 level. Read Full on FXOpen Company Blog...

Gold Price and Crude Oil Price Remain Supported Gold price started a fresh increase from the $1,720 support. Crude oil price rallied and it even broke the $75.00 resistance before correcting lower. Important Takeaways for Gold and Oil Gold price started a decent increase above the $1,735 resistance against the US Dollar. There was a break above a major bearish trend line with resistance near $1,737 on the hourly chart of gold. Crude oil price started a fresh rally from the $70.00 support zone. There was a break below a key bullish trend line with support near $74.85 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price extended its decline below $1,740 against the US Dollar. However, it found support near the $1,720 zone. A low was formed near $1,721 on FXOpen and the price started a fresh increase. It was able to clear the $1,735 resistance and the 50 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,737 on the hourly chart of gold. Gold Price Hourly Chart The price even broke the 50% Fib retracement level of the key decline from the $1,787 swing high to $1,721 swing low. It is now consolidating gains near the $1,750 level. The first major resistance is near the $1,762 level. The 61.8% Fib retracement level of the key decline from the $1,787 swing high to $1,721 swing low is also near $1,762. The main resistance is near the $1,780 level. A close above the $1,780 levels could open the doors for a steady increase towards $1,800. The next major resistance sits near the $1,820 level. On the downside, an initial support is near the $1,745 level. The first major support is near the $1,735 level. A downside break below the $1,735 support zone may possibly spark a sharp decline. In the stated case, the price could test the $1,720 support. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD - Technical Analysis – 30th SEPT, 2021 ETHUSD: Ether Rebounding Towards $3000 Ethereum failed to clear the $3200 mark after opening this week on a bullish tone and has since then seen correction touching a low of $2781.58. ETH is now moving above the 100 hourly moving average and would need to cross the major resistance located at $3511. Ethereum is gaining traction above $2800 today. A correction is expected towards $2955 before the continuation of the bullish trend. Staying above both the 100 hourly simple and exponential moving averages. The pair is expected to cross $3500 in the opening of the next week. Ether Dips Well Supported Ethereum is now on its path towards $3500 after clearing the 20-day moving average of 2913.76 The volatility in Ethereum is low, which is expected to continue next week. ETH has gained 1.89% with a price change of +$55.32 in the past 24hrs, and has a trading volume of 17.985 billion USD. The Week Ahead Ethereum is rebounding after falling towards $2800 as the investors are buying the dips. The movements in Ethereum correlate to the US stocks as the Federal Reserve has hinted it will start hiking interest rates in the coming year. The rebound was strong and the 50-day moving average, also indicating a BUY. This week, ETHUSD is expected to close at above the $3200 level, and the trend will continue in the opening of the next week. In the next week, Ether is expected to cross its resistance located at $3300. Any rally in the crypto markets could steer it above the $3550 level. Technical Indicators: Moving averages convergence divergence (12,26): at 37.67, indicating a BUY. 100 hourly moving average: at 2955.89, indicating a BUY. Ultimate oscillator: at 52.42, indicating a BUY. Relative strength index (14 days): at 57.79, indicating a BUY. Read Full on FXOpen Company Blog...

Important: Change of Trading Conditions for Micro Accounts Dear Traders, We would like to notify you of the latest changes in trading conditions for micro accounts. FXOpen is reducing the minimum trade volume from 0.1 to 0.01 microlots. A Microaccount is an account with a minimum initial deposit, trade volume and margin requirements. This type of account is ideal both for beginners to put their Forex skills to test, and professionals to develop new trading strategies, test indicators and EAs risk-free. More info on microaccounts, their advantages and trading conditions is available here. FXOpen Company News

EUR/USD Could Recover, USD/JPY Extends Rally EUR/USD extended its decline and traded close to 1.1665. USD/JPY is rising and it might continue to rise above the 111.70 level. Important Takeaways for EUR/USD and USD/JPY The Euro started a major decline below the 1.1750 and 1.1720 support levels. There is a key bearish trend line forming with resistance near 1.1690 on the hourly chart of EUR/USD. USD/JPY started a fresh increase and it cleared the 111.00 resistance zone. There is a crucial bullish trend line forming with support near 111.40 on the hourly chart. EUR/USD Technical Analysis This week, the Euro started another decline below the 1.1750 support against the US Dollar. The EUR/USD pair traded below the 1.1720 support to move into a bearish zone. The pair even broke the 1.1700 level and settled below the 50 hourly simple moving average. A low is formed near 1.1667 on FXOpen and the pair is now consolidating losses. An immediate resistance is near the 1.1688 level. EUR/USD Hourly Chart The 23.6% Fib retracement level of the recent decline from the 1.1749 swing high to 1.1667 low is also near the 1.1688 level. The first key resistance is near the 1.1690 level and the 50 hourly simple moving average. There is also a key bearish trend line forming with resistance near 1.1690 on the hourly chart of EUR/USD. The next major resistance could be 1.1710. It is near the 50% Fib retracement level of the recent decline from the 1.1749 swing high to 1.1667 low. A close above 1.1720 could open the doors for a steady increase towards 1.1750. Any more gains may possibly lead the pair towards the 1.1800 level. If there is no break above 1.1690, the pair might continue to move down. An immediate support is near the 1.1665. The next major support is near 1.1650, below which the pair could drop towards the 1.1600 support in the near term. Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 28th SEPT, 2021 BTCUSD: Grinding above $40K Support Bitcoin is currently struggling to keep itself above the $40k support and the price is oscillating between the Fibonacci levels of $41472 and 100-day moving average of $42834. It remains in accumulation mode in the London trading session. BTC bullish sentiment was seen at the opening of this week when it touched a high of $44304. Long-term outlook for bitcoin appears bullish and the short-term decline currently reinforces a mild bearish trend formation. The relative strength index (14-day) and ultimate oscillator are both indicating a SELL at the current market levels of $41745. A short-term correction below $40000 is expected before the continuation of the bullish trend. Simple and exponential moving averages indicate a strong SELL. Average true range (14-day) indicates high volatility. Bitcoin Short-Term Bearish Formations Bitcoin saw a mixed start this week and there is no sign of a bullish momentum. The 100 day moving average is indicating a strong SELL. The immediate targets would be breaching the classic support levels at $41243 and further moving towards the next major support located at $35819. Bitcoin is witnessing increased volatility after China banned all crypto transactions during the previous weekly closing on Friday. The support that is holding this week could be broken and bitcoin could start a further decline this week pushing below the psychological support level of $40000. In the last 24hrs, BTCUSD has dropped by -4.76% (+2087$) and has a 24hr trading volume of USD 31.47 billion. Bitcoin Sell-Off Continues Bitcoin is facing selling pressure after the China ban and the trading volumes are high at the Asian exchanges today. Also, many crypto currency exchanges are closing their Chinese accounts, leading to a withdrawal of funds in the US dollars and putting a selling pressure on BTCUSD. Technical Indicators: Relative strength index (14-day): at 32.442 with a SELL Ultimate oscillator: at 40.38 with a SELL Moving averages convergence divergence (12,26): at -370.10 with a SELL Price of rate change ROC: at -2.31 indicating a SELL Read Full on FXOpen Company Blog...

Advantage FXOpen FXOpen has been offering Forex brokerage services since 2005 and is currently one of the most successful and fastest-growing Forex brokers. FXOpen guarantees excellent customer support, strict compliance with all trading terms and conditions and reliability, backed up by the latest state-of-the-art technology. Our Advantages For the first time in the Forex industry – cryptocurrency trading with Bitcoin, Litecoin, Ethereum, Ripple, Monero, EOS, NEO, Bitcoin Cash Trading accounts to suit every level of experience and investment – ECN, STP, Crypto, Micro The industry's most competitive spreads - from 0 pips Minimum deposit – from $1 Advanced price aggregating ECN technology Maximum leverage up to 1:500 A wide selection of fast and reliable payment options A vast network of regional offices and representatives FXOpen Help The latest economic news, professional market analyses and a Forex calendar Monthly and daily account statements FXOpen ECN advantages: •By aggregating the liqudity of multiple LPs and feeding the aggregated raw price further to the clients, FXOpen is able to offer tighter spreads and better execution that otherwise available to retail clients. •The spread is floating and depends on market conditions. •Market execution with no last look is available to all FXOpen ECN participants. •Transparent and equal trading conditions for all clients.

Oil’s Rally Continues Ahead of the OPEC’s World Oil Outlook Release The rally of oil prices continues and is getting threateningly close to reaching a new high for the year. With just a day left before OPEC releases its World Oil Outlook, the WTI crude oil price trades with a bid tone, up over 1% at the start of the trading week. The WTI crude oil price has grown over 85% in the last year, moving in a steady, bullish trend. It corrected over the summer months, but found strong support at the $60 level. Goldman Sachs Remains Bullish The price of oil was driven higher by strong demand following the coronavirus lockdowns and OPEC’s swift reaction to the pandemic. As we get closer to the end of the year, Goldman Sachs remains bullish on the price of oil. More precisely, Goldman sees Brent oil at $90/barrel at the end of the year, and it also lifted its price targets for 2022 and 2023. Oil is a commodity, and, as such, its price is affected by the imbalances between supply and demand. For now, demand is strong as economic recovery from the pandemic slump continues. Because OPEC has cut production below the demand level, the oil prices recovered from the negative territory in April 2020 all the way to $77, the 2021 high for the WTI crude oil. The Vienna talks are seen as the biggest risk for the price of oil. Iran is ready to come back to the negotiations table after the local elections ended, and the markets expect them to be successful. If the Iranian oil hits the market, the price of oil will have to reflect the extra 2 million barrels or so per day. But the negotiations are yet to start… and they usually take a lot of time. Therefore, the bias remains bullish for the price of oil for the end of the trading year. If the market manages to make a new higher high above $77, more upside is likely to come. FXOpen Blog

GBP/USD Remains At Risk, EUR/GBP Could Extend Gains GBP/USD is trading in a bearish zone below the 1.3750 resistance zone. EUR/GBP is rising and it could gain pace if it clears the 0.8600 resistance. Important Takeaways for GBP/USD and EUR/GBP The British Pound declined below the 1.3800 and 1.3765 support levels. There is a key contracting triangle forming with resistance near 1.3685 on the hourly chart of GBP/USD. EUR/GBP started a decent increase and cleared the 0.8550 pivot level. There was a break above a major bearish trend line with resistance near 0.8565 on the hourly chart. GBP/USD Technical Analysis The British Pound started a major decline from well above 1.3800 against the US Dollar. The GBP/USD pair traded below the 1.3720 and 1.3700 support levels to enter a bearish zone. The pair even broke the 1.3650 support and settled below the 50 hourly simple moving average. It traded as low as 1.3609 and recently started an upside correction. The pair climbed above the 1.3700 resistance, but the bears were active near 1.3750. A high was formed near 1.3750 before the pair started a downside correction. There was a break below the 1.3700 support level. It traded below the 50% Fib retracement level of the upward move from the 1.3609 swing low to 1.3750 high. It is now consolidating near the 1.3665 support level. It is close to the 61.8% Fib retracement level of the upward move from the 1.3609 swing low to 1.3750 high. There is also a key contracting triangle forming with resistance near 1.3685 on the hourly chart of GBP/USD. If there is an upside break above the triangle resistance, the price could surpass 1.3720. The main resistance is near the 1.3750 zone. Therefore, a proper break above the 1.3750 resistance could open the doors for a steady increase. The next major resistance for the bulls could be 1.3800. If not, the pair could break the 1.3665 and 1.3660 support levels to continue lower. The first key support is near the 1.3620 level. Any more losses could lead the pair towards the 1.3550 support zone. Read Full on FXOpen Company Blog...

I am making use of the Demo trading accounts.

Forex traders need to use Special Trading Skills.

We need to use more Skills to make Better Trading Income.

I am doing my Forex Trading with the International Broker FXopen They have Low Spreads in Gold and Forex Pairs with USD.