FXOpen Trader

We need to understand the Risks in this business so that the income will start coming to us now.

We will have to understand that Forex trading is a business that will need more Efforts from the traders and we need to understand this.

When we are trading in the business we will have to understand that Forex trading is a very risky business for us.

Forex trading is a type of business that will give us the profits only when we are using the correct trading systems.

If the risks present in doing our trades are on the lower side then we can start making the profits also.

I believe that in the business of Forex trading we will have to make Extra Efforts so that we are getting good profits also.

LTC and EOS – Consolidation now expected but further decline still a possibility LTC/USD The price of Litecoin has been on a decline from yesterday’s high of $391 made a decrease of 21.8% as it fell to $306.35 at its lowest point today. It spiked further down buy managed to snap back quickly and is currently being traded at $313.69. Looking at the hourly chart, you can see that this downfall was the continuation of the descending move from Monday when the price reached $411 at its highest. This was most likely the end of the higher degree 3rd wave from the impulse wave that started at the start of the year. If so, we are now seeing the 4th wave of the same degree developing to the downside. Measured from its last increase from the 26th of April the price fell down to the 0.5 Fib level and found support there. But this only might be a temporary hold before further downside continuation. We could have seen the completion of the ABC correction in which case now we are to see the start of the next 5th wave to the upside, but there isn’t still any signs of the buyers entering the market. If we are to see the start of the next impulsive move strong confirmation would be needed. Read Full on FXOpen Company Blog...

FXOpen Leading April 2021 PAMM Accounts Overview It’s May 2021 already, so it’s high time we took a look at where we ended up in April. Our latest review of PAMM accounts is meant to help investors navigate the rating of FXOpen’s PAMM account managers and form their portfolio by choosing what’s best for them based on profitability and outlook reports. As of now, 160 manager accounts have been registered with FXOpen, with the accumulated investment capital in the amount of US$2,912,991.00. Read Full on FXOpen Company Blog...

EUR/USD Faces Key Hurdle, USD/CHF Starts Fresh Increase EUR/USD seems to be struggling to clear the 1.2180 and 1.2200 resistance levels. USD/CHF is rising and it broke a major hurdle near the 0.9020 level. Important Takeaways for EUR/USD and USD/CHF The Euro is struggling to gain pace above the 1.2165 and 1.2180 levels against the US Dollar. There is a key connecting bullish trend line forming with support near 1.2115 on the hourly chart of EUR/USD. USD/CHF started a fresh increase after forming a base above the 0.8990 level. There was a break above a major bearish trend line with resistance near 0.9032 on the hourly chart. EUR/USD Technical Analysis The Euro formed a strong support base above the 1.2000 level against the US Dollar. As a result, the EUR/USD pair started a fresh increase and it broke many hurdles near the 1.2050 and 1.2100 levels. The pair even surged above the 1.2150 level and settled above the 50 hourly simple moving average. A high was formed near 1.2181 on FXOpen and the pair is now correcting gains. It seems like the pair is struggling to gain pace above the 1.2165 and 1.2180 levels. It already corrected lower below the 1.2150 level and the 50 hourly simple moving average. There was a break below the 23.6% Fib retracement level of the upward move from the 1.2052 swing low to 1.2181 high. On the downside, there is a major support forming near the 1.2120 zone. There is also a key connecting bullish trend line forming with support near 1.2115 on the hourly chart of EUR/USD. The trend line is close to the 50% Fib retracement level of the upward move from the 1.2052 swing low to 1.2181 high. A downside break below the trend line and 1.2100 could increase selling pressure in the near term. On the upside, the pair is facing hurdles near the 1.2180 level. The next major resistance is near the 1.2200 level, above which the pair could start a strong increase. Read Full on FXOpen Company Blog...

BTC and XRP – Correction likely to continue The price of Bitcoin reached $59,544 at its highest point yesterday from its prior higher low of $53,170 on the 5th of May. This rise of 12.24% was stopped as the third unsuccessful attempt to surpass the zone above the $60,000 which is why we have seen a decrease of 10% measured to its lowest spike of $53,530. Currently, the price is being traded at around $55,440 as it managed to snap back quickly up above the significant horizontal level. Now the price is looking for support as the breakout momentum has been seen strong. The descending move is counted as the second sub-wave of the higher degree count out of which further upside would be expected. However, we need to first see the price to hold above the $55,200 area for the scenario to still be valid. If the price goes below it, that would be an early indication that we are seeing further lows before another upward cycle. The primary count implies that from the 26th of April we have seen another wave to the upside and it is still unclear where this current descending move belongs, but if it’s the part of the higher degree correction it could end below $53,400. Read Full on FXOpen Company Blog...

Ethereum at Record Highs as the Cryptocurrency Traders Diversify from Bitcoin The cryptocurrency market appears to have reached a point where investors look beyond Bitcoin. Up until recently, Bitcoin was the only game in town, responsible for the overall movements in other crypto coins. However, things changed dramatically as Ethereum has recovered faster than Bitcoin from last month’s move lower. Investors may remember that Bitcoin dropped from over $60k to $47k in less than 24h, creating a similar move in most altcoins. However, it recovered but was not able to make a new high. Ethereum did and now trades above $4,000 for the first time in history. Fears of Inflation Drive the Cryptocurrency Market Higher Inflation in the United States is expected to rise in the months ahead. As such, commodity prices are close to record highs. Lumber, for example, rose over 500% in the last twelve months, and so are basic food commodities such as corn. Gold recovered from below $1,700 and now trades above $1,830, acting as a classic hedge against inflation. But some investors diverted their attention also to new hedges against inflation. The digital assets are seen as such hedges, and this is why there is such a strong interest in the market. Why would Ethereum outperform Bitcoin? Also, how about the interest in Dogecoin? One explanation may come from the carbon footprint that mining Bitcoin has and the negative environmental effects of mining new coins. Natural gas, coal, and oil are still the main sources of electricity used at mining Bitcoin, and many investors want to move away from such investments. If you want, the process resembles, in a small way, sustainable investing. It is not to say that the price of Bitcoin will not rise anymore or that it will correct from the current levels. This article only points out the fact that investors are willing to have a look at other digital assets in their wish to hedge against inflation. Should the CPI later this week come out higher than expected, the cryptocurrency market may be the first one to react to such news. In the meantime, Ethereum continues to outperform Bitcoin, just like Dogecoin did in the past years. FXOpen Blog

Trading Hours Schedule for the Hong Kong Public Holiday on 19th May Dear Traders, Due to the Hong Kong Public Holiday on 19th May, you will experience the following changes in the trading hours schedule: Hong Kong 50 (#HSI) Tuesday, May 18th: 01:00 - 22:00;Wednesday, May 19th: trading closed;Thursday, May 20th: opening at 04:15. All other financial instruments will be traded as usual. Please take these changes into consideration when planning your trading activities for the upcoming week. FXOpen Company News

GBP/USD Breaks Key Resistance, USD/CAD Extends Decline GBP/USD started a fresh rally above the 1.4000 resistance. USD/CAD declined heavily below 1.2250 and it remains at a risk of more downsides. Important Takeaways for GBP/USD and USD/CAD The British Pound started a fresh increase from the 1.3800 support zone. There was a break above a major contracting triangle with resistance near 1.3925 on the hourly chart of GBP/USD. USD/CAD declined heavily after it broke the 1.2260 and 1.2250 support levels. There is a key bearish trend line forming with resistance near 1.2200 on the hourly chart. GBP/USD Technical Analysis This past week, the British Pound consolidated above the 1.3820 and 1.3850 support levels against the US Dollar. Recently, the US NFP report was released, which posted a disappointing result of 266K. As a result, the GBP/USD pair started a fresh increase and cleared a couple of important hurdles near the 1.3925 level. There was also a break above a major contracting triangle with resistance near 1.3925 on the hourly chart of GBP/USD. The pair even climbed above the 1.4000 level and settled nicely above the 50 hourly simple moving average. It traded as high as 1.4045 on FXOpen and it is now consolidating gains. An initial support on the downside is near the 1.4000 level. It is close to the 23.6% Fib retracement level of the upward move from the 1.3856 low to 1.4045 high. If the pair fails to stay above the 1.4000 level, it could correct lower towards the 1.3950 level. The 50% Fib retracement level of the upward move from the 1.3856 low to 1.4045 high is also near 1.3950. Any more losses might call for a test of the 1.3925 support. On the upside, the 1.4050 zone is an initial barrier for the bulls. A successful close above the 1.4045 and 1.4050 levels could open the doors for a steady increase towards 1.4120 or even 1.4200. Read Full on FXOpen Company Blog...

Forex trading is a type of business that is very Intensive and as such we will have to do Hard work if we are looking to earn income from this business.

If we are doing Forex Trading business then we will have to understand that it will take more Efforts from our side and we will have to also give proper time in doing this business.

We will have to find a Forex trading broker that is Regulated and also has a Good Reputation among the existing traders like FXOpen GLOBAL

I was searching for a Forex Broker that is a True ECN and also has Lower spreads in the GOLD and Forex Pairs with USD. I found FXOpen GLOBAL See below the screenshots

After completing 10 Years in the Forex markets i would like to say that there is no strategy without any loss in Forex. If any trader says that he does not get a loss he is simply telling you LIE. The main fact here is to be able to reduce the Losses and increase the Profits by getting into Longer time frames with TRENDS

When i started trading in the Forex markets i choose to trade with the FXOpen. This is an ECN Forex Broker and has Lower Spreads in the GOLD and Forex Pairs with USD. See screenshots

We have to make a wise decision and choose a Forex trading Broker that is both Regulated as well as True ECN Forex Broker like FXOpen

As i have been doing my Forex trading from more than 10 Years now i can say that the Best Trading Platform is the Meta Trader 4 and i personally use it for all my trades.

We will have to understand this fact that in the business of Foreign Exchange market the main and Important thing is to be able to control our Losses. This is why i am doing my trading with Lower Risks.

I made a wise decision to choose a Forex trading broker that has Lower spreads in the GOLD and the Forex Pairs with USD - FXOpen GLOBAL See the Screenshots

Gold Price Rallies Above $1,800, Oil Price Prepares For Next Move Gold price started a fresh increase and it cleared the $1,800 resistance zone. Crude oil price is trading nicely above $64.50 and it is likely setting up for the next move. Important Takeaways for Gold and Oil Gold price gained pace above the $1,790 and $1,800 resistance levels against the US Dollar. There is a key bullish trend line forming with support near $1,805 on the hourly chart of gold. Crude oil price climbed higher and tested the $66.65 zone before correcting lower. There is a crucial contracting triangle forming with support near $64.70 on the hourly chart of XTI/USD. Gold Price Technical Analysis This week, gold price formed a strong support base above the $1,760 level against the US Dollar. As a result, there was a fresh increase above the $1,780 and $1,800 resistance levels. The price even settled above the $1,800 zone and the 50 hourly simple moving average. It spiked above the $1,815 level and a high was formed near $1,818 on FXOpen. The price is now consolidating near the $1,815 level. An initial support on the downside is near the $1,805 zone. There is also a key bullish trend line forming with support near $1,805 on the hourly chart of gold. The trend line is close to the 23.6% Fib retracement level of the recent wave from the $1,770 low to $1,818 high. If there are more losses, the price could decline towards the $1,800 level. The next key support could be near the $1,795 level. The 50% Fib retracement level of the recent wave from the $1,770 low to $1,818 high is also near the $1,795 zone. Besides, the 50 hourly simple moving average is near the $1,792 level. On the upside, an immediate resistance is near the $1,818 and $1,820 levels. A clear break above the $1,820 level may possibly open the doors for a move towards the $1,850 level. Read Full on FXOpen Company Blog...

LTC and EOS – New highs ahead LTC/USD The price of Litecoin has been on the rise since the 26th of April when it was being traded at $214. We have seen an increase of 69.8% measured to its highest point of $364 made yesterday. Currently, it is being traded slightly lower but is now again started moving to the upside again. On the hourly chart, you can see that the price has made an interaction with the significant ascending trendline which was the upward channel formed from November last year. As the price found resistance a minor pullback was made but the price is now expected to continue increasing further to the upside and make a breakout above the trendline. This means that a higher high would be expected in the vicinity of the $380 which would be the ending wave from the 3r wave of the higher degree count. If this is true then the retest of the ascending resistance for support would be the 4th wave of the same degree that is going to look out of support before further upside movement potentially to the $440 area. We could see the price going a bit more to the downside if the lower degree 4th wave hasn’t ended fully but this isn’t as likely considering the bullish momentum seen. Read Full on FXOpen Company Blog...