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Dax Index Adds 10 New Companies Ahead of the German Federal Elections September 2021 will remain in history as the month when the German Dax index undergoes the biggest reform in its existence. Starting with September 20th, ten new companies will be added to the Dax index, and so the number of its constituents increases from 30 to 40. One of the reasons cited for the change in the Dax is the need to add new companies that reflect the new economy. Truth be said, the Dax had underperformed its peers for some time now. For example, the S&P 500 index outperformed the German Dax index, and so did other indices in the United States. The ten companies to be added to the Dax index are “promoted” from the MDAX. MDAX is an index tracking middle-sized businesses in Germany, and by adding the new companies, the number of constituents in the Dax increases, while the one in the MDAX decreases. Puma, Zalando, or Airbus, are some of the names known by the general public that will be added to the Dax. Some other ones, not so popular, are equally important – Symrise, Sartorius, Qiagen. Will the changes make the Dax index more attractive to investors? It remains to be seen. Euro Traders Prepare for the German Federal Elections The federal elections in the United States are scheduled on September 26th, and the market participants are aware that this is the main event in the Euro area for the rest of the year. The importance of it cannot be understated – Angela Merkel, the German Chancellor, will not be candidate, as she ends a long-lasting political career. With only two weeks until the elections, the SPD, or the socialists, are rising in polls. Olaf Scholz, their leader, is now viewed as the one with the biggest chances to win the German Chancellor position. If the socialists do win, it will mark a change in the German leadership, and the markets embrace for changes in the fiscal space too. All in all, an interesting September lies ahead for traders monitoring events in Germany. Because the German economy is the largest in the Eurozone, what happens in Germany will affect the common currency, the euro. FXOpen Blog

FXOpen’s TOP-10 August 2021 PAMM Accounts The world is still struggling to prevent the spread of COVID-19 and mitigate the repercussions of economic activity deterioration. Currency pairs and other trading instruments have become highly volatile. Investors are wary of drastic moves and are choosing the masters who are most likely to adequately assess September’s trading situation, turn it around in their favor, and make good money thanks to fluctuating rates of various currency instruments. In this PAMM review, FXOpen presents for your consideration yet another list of the most promising and profitable investment accounts. As of September 2021, FXOpen has 150 active PAMM-accounts, with $2'925’824 of subscriber funds invested. And if you would like to try your hand at managing a PAMM-account, we are glad to remind you that FXOpen is hosting its Money Managers contest! Registration closes on October 3, 2021. Test your managing skills and win a monetary prize out of the $10,000 prize fund! And now, on to the top 10 PAMM accounts that demonstrated the most promising results in August 2021. Read Full on FXOpen Company Blog...

Changes In Trading Hours During Mid-Autumn Festival In Hong Kong Dear Traders, Due to the forthcoming Mid-Autumn Festival public holiday in Hong Kong, trading hours for the Hang Seng Index will be changed on September 21, 22, and 23. Please see the schedule below and consider this information as you plan your trading (all times given are GMT/UTC+3). Hong Kong 50 (#HSI): Tue 21 Sep: trading session opens at 01:00; closes at 22:00;Wed 22 Sep: trading closed;Thu 23 Sept: trading session opens at 04:15. Other indices will be traded as usual. Feel free to reach out to us if you have any questions via this email: support@fxopen.com FXOpen Company News

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GBP/USD Eyes More Upsides While GBP/JPY Remains At Risk GBP/USD started a fresh increase above the 1.3800 resistance. GBP/JPY seems to be facing a major resistance near the 152.20 and 152.30 levels. Important Takeaways for GBP/USD and GBP/JPY The British Pound traded as low as 1.3727 before it started a fresh increase against the US Dollar. There was a break above a major bearish trend line with resistance near 1.3800 on the hourly chart of GBP/USD. GBP/JPY topped near 152.65 and started a downside correction. There is a short-term bullish trend line forming with support near 152.00 on the hourly chart. GBP/USD Technical Analysis This past week, the British Pound saw a drop below the 1.3820 level against the US Dollar. The GBP/USD pair even broke the 1.3800 and 1.3750 support levels. It traded as low as 1.3727 on FXOpen before it started a fresh increase. There was a steady increase above the 1.3750 resistance level. The price surpassed the 1.3800 resistance level and the 50 hourly simple moving average. GBP/USD Hourly Chart There was also a break above a major bearish trend line with resistance near 1.3800 on the hourly chart of GBP/USD. The pair even climbed above 1.3850 and retested the 1.3880 resistance. A high is formed near 1.3888 and the pair is now correcting gains. It traded below the 23.6% Fib retracement level of the recent wave from the 1.3727 low to 1.3887 high. An immediate support is near the 1.3825 level and the 50 hourly simple moving average. The next major support is near the 1.3810 level. The 50% Fib retracement level of the recent wave from the 1.3727 low to 1.3887 high is also near 1.3807. If there is a break below the 1.3800 support, the pair could test the 1.3278 support. If there are additional losses, the pair could decline towards the 1.3720 level. On the upside, the pair is facing a major resistance near the 1.3880 and 1.3900 levels. A clear break above the 1.3900 resistance could increase the chances of a move towards the 1.4000 resistance. Read Full on FXOpen Company Blog...

AUD/USD and NZD/USD Could Start Fresh Increase AUD/USD is forming a base above 0.7345 and it could start a fresh increase. NZD/USD might also start a steady increase above the 0.7135 resistance zone. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar is forming a decent support base near the 0.7350 zone against the US Dollar. There was a break above a key bearish trend line with resistance near 0.7375 on the hourly chart of AUD/USD. NZD/USD is also forming a base above the 0.7075 pivot level. There was a break above a major bearish trend line with resistance near 0.7100 on the hourly chart of NZD/USD. AUD/USD Technical Analysis After struggling to clear the 0.7470 resistance, the Aussie Dollar started a downside correction against the US Dollar. The AUD/USD pair broke the 0.7400 and 0.7375 support levels to move into a short-term bearish zone. The pair even broke the 0.7360 support and the 50 hourly simple moving average. A low was formed near 0.7345 on FXOpen before the pair started a recovery wave. There was a break above the 0.7375 zone and the 50 hourly simple moving average. There was also a break above a key bearish trend line with resistance near 0.7375 on the hourly chart of AUD/USD. The pair cleared the 23.6% Fib retracement level of the recent decline from the 0.7468 swing high to 0.7345 low. An immediate resistance is near the 0.7390 level. The next major resistance is near the 0.7400 level. It is close to the 50% Fib retracement level of the recent decline from the 0.7468 swing high to 0.7345 low. A close above the 0.7400 level could start a steady increase in the near term. The next major resistance could be 0.7450. An initial support on the downside is near the 0.7370 level. The next major support is near the 0.7345 level. If there is a downside break below the 0.7345 support, the pair could extend its decline towards the 0.7300 level. Read Full on FXOpen Company Blog...

EUR/USD Could Resume Decline While USD/JPY Aims Higher EUR/USD extended its increase before it faced sellers near 1.1910. USD/JPY is rising and it might revisit the 110.40 resistance zone. Important Takeaways for EUR/USD and USD/JPY The Euro failed to gain pace above 1.1900 and started a downside correction. There was a break below a major bullish trend line with support near 1.1875 on the hourly chart of EUR/USD. USD/JPY started a fresh increase and it cleared the 110.00 resistance zone. There was a break above a key bearish trend line with resistance near 109.95 on the hourly chart. EUR/USD Technical Analysis This past week, the Euro saw a steady increase above the 1.1800 zone against the US Dollar. The EUR/USD pair broke the 1.1850 resistance to move into a positive zone. The pair even spiked above the 1.1900 level, but it failed to extend gains. A high was formed near 1.1908 on FXOpen before the pair started a fresh decline. There was also a break below a major bullish trend line with support near 1.1875 on the hourly chart of EUR/USD. The pair traded as low as 1.1837 and it is now consolidating losses. An immediate resistance is near the 1.1855 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.1908 swing high to 1.1837 low. The first key resistance is near the 1.1865 level and the 50 hourly simple moving average. The 50% Fib retracement level of the recent decline from the 1.1908 swing high to 1.1837 low is also near 1.1865. A close above 1.1865 could open the doors for a steady increase towards 1.1900. If there is no break above 1.1865, the pair might continue to move down. An immediate support is near the 1.1840. The next major support is near 1.1820, below which the pair could drop towards the 1.1750 support in the near term. Read Full on FXOpen Company Blog...

NATURAL GAS SETTING NEW RECORDS IN THE US AND EUROPE On Monday, September 6, US natural gas futures reached the mark of $4.7 per million Btu. This is the highest index since December 2018. Such a hike in gas prices was triggered by Hurricane Ida: production in the Gulf of Mexico is not going according to plan. The demand for home air conditioning is likely to remain as strong, since it will be as hot in early September. In Europe, the gas price has climbed even higher due to shortage fears. The threat of shortage stems from the fact that Russia, the largest gas supplier to Europe, has refused to book large volumes of gas pumped through pipelines in Ukraine ahead of the completion of the Nord Stream 2 pipeline. From a technical point of view, the chart shows that gas prices have reached the overbought level and the line of the long-term upward channel. This increases the likelihood of a rollback. Whether you would like to take a risky position against an uptrend, or wait for a pullback (for example, closer to the strong support of 4.200 or 4.500) to enter a long position at the end of it, FXOpen is ready to be your reliable partner. FXOpen Telegram Channel

Eurozone Inflation at 10-Year High Ahead of the September ECB Meeting Inflation is running hot all over the world, and the Eurozone could not differ. Ahead of the ECB meeting scheduled this Thursday, the inflation rate in the Euro area reached a 10-year high. Unlike the Federal Reserve of the United States, the ECB has only one mandate – price stability. The ECB measures price stability by bringing inflation below but close to 2%. It recently adjusted its target to a more symmetrical one, something similar to the average inflation targeting in the United States. But the bottom line is that the ECB only looks at inflation before changing its monetary policy. The Fed, on the other hand, looks at inflation and job creation. Therefore, while inflation is way above the target in the United States, the Fed will not act on rates until the job market recovers. As we saw last Friday, the last NFP report disappointed – the U.S. economy only created one-third the jobs the market expected. The Euro Trades with a Bid Tone Ahead of the ECB Meeting The common currency, the euro, bounced recently from its lows. The EUR/USD exchange rate is up from below 1.17 and traded briefly above 1.19 after last Friday’s NFP report in the United States. Similar to the EUR/USD, the EUR/JPY is in a bullish trend too. It regained the 130 level and trades with a bid tone. The market expects that the ECB will signal the removal of its monetary accommodation, and thus the euro is bid against its peers. However, the risk is that the ECB will do nothing and the recent strength in the euro pairs will vanish. All in all, an interesting week for financial markets lie ahead. Inflation is a problem in Europe, and the ECB will likely reiterate its view that inflation is transitory. If that is the case, and the ECB does nothing to address inflation fears, the euro bulls will be disappointed. FXOpen Blog

NO SIGNIFICANT RESISTANCE ON BITCOIN’S PATH TO $100,000 Bitcoin will continue the rally that started in August, and after successfully breaking through the psychological resistance level of $50,000, it could further grow to reach $100,000 with minimal resistance, says Bloomberg's analyst and strategist Mike McGlone. “After enduring a gut-wrenching correction, we see the crypto market more likely to resume its upward trajectory than drop below the 2Q lows. What could stop Bitcoin and Ethereum from achieving record highs in 2H may be the more elusive question. Increasing demand and adoption are facing diminishing supply,” McGlone wrote in his report. Meanwhile, JPMorgan analysts have warned the investors about the “frothy-looking” crypto markets and unstable prices over the long term. They have also noted that the factors boosting the BTC price include continued interest from institutional investors and the general public. The chart seems to confirm this optimism. An inside bar with low volumes was formed on Saturday, and on Sunday, the price rose paired with increasing volumes. Taking into account the decline in activity typical for a weekend, we see an indication that the market is more interested in rallying than balancing around the 50k level. FXOpen Telegram Channel

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