FXOpen Trader

We must try to understand this fact that trading will need more Efforts from the Traders and we need to understand this.

If we are making use of the correct Trading Skills then our income from this business will start to increase Gradually.

I have been trading in the Forex Markets from the Year 2010 with FXOpen Markets with SUCCESS

I have been doing my trading with the International and Reputed Broker FXOpen Markets

We must male use of the Lower Trading Leverages so that the risks in our trades will remain on the lower side.

We can start doing our trades in the DEMO Trading accounts with the help of a Good and a Reliable Trading Plan.

We must understand this fact that trading in the Forex markets will take more Time and the Efforts.

Gold Price and Crude Oil Price Eye Additional Gains Gold price started a fresh increase above the $1,820 resistance. Crude oil price is also rising and it is showing positive signs above $70.00. Important Takeaways for Gold and Oil Gold price started a fresh upward move after forming a base above $1,780 against the US Dollar. There was a break above a key bearish trend line with resistance near $1,805 on the hourly chart of gold. Crude oil price also gained pace and it broke the key $70.00 resistance zone. There is a major bullish trend line forming with support near $72.30 on the hourly chart of XTI/USD. Gold Price Technical Analysis This week, gold price formed a decent support base above the $1,792 zone against the US Dollar. The price started a fresh upward move and it surpassed the $1,800 resistance zone. The price even settled above the $1,820 level and the 50 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near $1,805 on the hourly chart of gold. Finally, the price spiked above the $1,830 resistance and it traded as high as $1,832 on FXOpen. The price is now consolidating gains near $1,828. An initial support on the downside is near the $1,823 level. It is near the 23.6% Fib retracement level of the upward move from the $1,793 low to $1,832 high. The first major support is near the $1,818 level. The main support is now forming near the $1,810 level and the 50 hourly SMA. The 50% Fib retracement level of the upward move from the $1,793 low to $1,832 high is also near $1,812. If there is a downside break, the price could test the $1,790 support. An immediate resistance on the upside is near the $1,832 level. The first major resistance is near the $1,840 level. If the price breaks the $1,840 level, it could accelerate higher. In the stated case, the price could rise towards the $1,850 zone. Read Full on FXOpen Company Blog...

LTC and EOS – Corrective movement seen LTC/USD The price of Litecoin has been on the rise from the 20th of July when it fell to $104 at its lowest point. From there we have seen an increase of 35.9% measured to its highest point today at $141.83. This last rise was made after a sharp impulsive decline in a slowly moving manner and even though it is still moving to the downside it barely made it past Monday’s high. These two signs – slowly moving price after a sharp decline and failure to make a significantly higher high are considered signs of weakness which is why soon a move to the downside would be expected. From the 20th of July have likely seen the completion of the five-wave impulse to Monday’s high. If this is true, then from Monday we have seen the start of the descending move with the rise from Tuesday being its 2nd sub-wave. This can be a minor three-wave flat correction with the price continuing its upward trajectory after as it made a slightly higher high compared to Monday’s one. Another possibility could be that this descending move is going to be larger but there aren’t still signs on how it can play out. Considering the fact that this move is counted as corrective this structure can be labeled as the A wave from the higher degree ABC count. Read Full on FXOpen Company Blog...

Bitcoin May Reach ATH On July 27, Reuters released a rebuttal from an Amazon spokesman regarding the company’s plans to implement Bitcoin. “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” the source said. On the backdrop of this new turn, the Bitcoin rate fell, but what is important, it didn’t fall lower than the July 26 level, when London’s City AM newspaper cited an unnamed insider saying Amazon had intentions to accept Bitcoin payments until the end of the year. The fact that the official clarification did not bring the price back to the starting point suggests a bullish market sentiment. Mike McGlone, Bloomberg’s Intelligence senior commodity strategist, is of the opinion that BTC quotes are more likely to return to the $60,000 mark than fall to $20,000. The price of Bitcoin fluctuates around the psychological level of $40k. The level of $36k — the base of the July 26 large-volume candlestick — is important. As long as the bulls keep the price above this level, the situation looks encouraging. FXOpen Blog

EUR/USD and EUR/JPY: Euro Eyes More Upsides EUR/USD formed a support base above 1.1780 and corrected higher. EUR/JPY is also rising and it could gain pace above the 130.00 resistance. Important Takeaways for EUR/USD and EUR/JPY The Euro extended its decline towards the 1.1750 level before recovering higher. There was a break above a key contracting triangle with resistance near 1.1805 on the hourly chart. EUR/JPY climbed higher nicely and it even settled above the 129.50 zone. There is a major contracting triangle forming with support near 129.70 on the hourly chart. EUR/USD Technical Analysis The Euro extended its decline below 1.1800 against the US Dollar. However, the EUR/USD pair remained well bid above the 1.1750 support zone. The pair formed a base near 1.1760 and it recently started a decent upward move. It surpassed the 1.1800 resistance zone and the 50 hourly simple moving average. There was also a break above a key contracting triangle with resistance near 1.1805 on the hourly chart. The pair traded as high as 1.1841 on FXOpen and it is now correcting gains. There was a break below the 23.6% Fib retracement level of the recent wave from the 1.1770 swing low to 1.1841 high. The pair is now finding bids near the 1.1810 support zone. The next key support is near the 1.1805 level. It is near the 50% Fib retracement level of the recent wave from the 1.1770 swing low to 1.1841 high. Any more losses might call for a move towards the 1.1780 support. Any more losses might lead EUR/USD towards the 1.1750 support zone. On the upside, an initial resistance is near the 1.1830 level. The first major resistance is near the 1.1850 level. Any more gains could set the pace for a move towards the 1.1900 level. The next major resistance is near the 1.1920 level. Read Full on FXOpen Company Blog...

BTC and XRP – Upward move likely ended BTC/USD The price of Bitcoin has been on the rise since the 20th of July when it fell down to $29.316 at its lowest point. From there we have seen an increase of 38.7% as it came up to $40,679 at its highest point yesterday. Today the price fell down to $36,500 area and is now moving to the upside again, but the downfall of 10% might be indicative of the completion of the prior upward movement. You can see that the price almost reached its most significant resistance zone at around $41,000 but failed to make interaction. The upward move from the 20th of July was impulsive in sections but the wave structure doesn’t imply a five-wave pattern. Instead, we could be looking at an ABC correction to the upside before the next downward move. The upward movement looks completed either way so now at least a retracement would be expected if not a start of a new downtrend. Read Full on FXOpen Company Blog...

Crypto investors are looking for reasons to be optimistic The market has entered a consolidation zone after the anomalous activity of May 19, with fluctuations framed by a narrowing triangle formation. Currently, no significant news reports are affecting the market, and the volumes are fading. This situation is reminiscent of the calm before the storm. What will the storm be like and when will it happen? Optimists are looking for arguments that would signify a resuming growth. Analysts point to the outflow of bitcoins from cryptocurrency exchanges (see fig. 2), as evidenced by data (see fig. 1) collected by the Glassnode agency. Blue arrows on the chart indicate that previous outflows occurred against the backdrop of rising quotes. Therefore, the current outflow, according to analysts, could be a bullish harbinger. But digging deeper, we will find out that this was not always the case. A similar outflow occurred during the lull in the first half of November 2018. And in the second half, a bearish storm occurred, and BTCUSD collapsed from 6400 to 3200. Volume analysis does give cause for concern. On July 11, there was a growth attempt (see fig. 3), but the volumes were low, which indicates a possible shortage of buyers. The next day, July 12, confirms the weakness of demand, as the price decreased on growing volumes, which can be interpreted as active selling pressure. It seems that negative sentiment prevails in the market, as participants are actively selling the coin instead of buying. If so, then the price of 33,500 is too high for BTC. In such conditions, the fate of a psychological support level of 30k causes more and more concerns. FXOpen Blog

We need to choose a Forex trading Broker that is a True ECN Broker like FXOpen Markets

We need to select a Forex trading Broker that is Reliable and also True ECN like FXOpen Markets

If we are looking to earn Quick profits from doing our trading we must understand that it will be Risky for us.

We must understand this fact that if we are looking to earn the profits from doing our trading we will need to make use of a Good Trading Strategy.

We need to understand the Forex trading business and start doing our trading with a Broker that has Good International Reputation.

We will have to understand that in the business of the Forex trading risks can become more and we will need to learn how to manage them.

We must see and then understand that doing our trades with a Regulated Broker is the Best Choice.

We will need to start doing a lot of Hard work so that we are able to become a successful trader in this business.

We need to understand that it is important for the traders to select a Forex Broker that is True ECN.

We can learn trading in the Forex markets with the help of the DEMO Trading accounts.

We need to understand that in the Forex trading business the most important factor is to do our trading with a Regulated Broker.

I have been doing my trading with the Reputed and International Broker FXOpen Markets. They have Low Spreads in the GOLD and the Forex Pairs with USD. See Below