FXOpen Trader

If we are looking at a trading system we must be able to understand the system fully.

We will need to start making some Efforts so that the income can be easily started for us.

We will need to start making some Efforts so that the income can be started.

Euro Finds Buyers Ahead of the ECB Meeting A new trading week has just started, and the name of the game in the FX market is the JPY weakness. Since the Bank of Japan said in March that it would buy unlimited amounts of JGBs, the JPY pairs have gone through the roof. Perhaps the most impressive rally is the one observed in the EUR/JPY cross. After initially dropping to 124 when the Russia-Ukraine war started, the cross reversed course dramatically and now trades close to 137, having gone up by almost 1,300 pips higher in about a month. But the EUR/JPY cross is not the only EUR pair that has found support at lower levels. Even the EUR/USD has, despite the fact that the Federal Reserve of the US is already raising rates, while the ECB does not plan to do so anytime soon. EUR/USD Still Bearish While Below the Pivotal Level EUR/USD has been selling aggressively this year. First, there was the increased divergence between the Federal Reserve and the ECB. As traders saw the Fed become more vocal regarding the new tightening cycle, the ECB is only moderately hawkish. Secondly, the war in Ukraine triggered a selloff as investors preferred not to take any risk and avoid the common currency. As such, the EUR/USD dropped below 1.12, a pivotal level for the pair. In other words, despite a possible double bottom pattern, the EUR/USD remains bearish while below 1.12. A close above 1.12, however, would turn the bias bullish as investors would try for the measured move seen at 1.16. ECB Meeting Looms Large On Thursday, the ECB presents its monetary policy for the period ahead. The central bank faces a difficult task. On the one hand, inflation runs way above the ECB’s tolerance level. As such, the central bank has issued some hawkish statements, and the market now anticipates that the deposit rate will be lifted from the current level this year. On the other hand, the war in Ukraine calls for caution in tightening the monetary policy. Inflation is triggered by the supply side, and hiking rates will not help. Instead, hiking rates might trigger an economic recession. All in all, this week, we will find out more about the ECB’s plans. One thing is sure – the common currency is being bought on every move lower so far. FXOpen Blog

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GBP/USD Dives While GBP/JPY Aims More Upsides GBP/USD started another decline from well above the 1.3120 level. GBP/JPY is rising and might gain pace above the 162.75 resistance zone Important Takeaways for GBP/USD and GBP/JPY The British Pound started a fresh decline after it failed near 1.3150 against the US Dollar. There is a key bearish trend line forming with resistance near 1.3030 on the hourly chart of GBP/USD. GBP/JPY started a fresh increase after it cleared the 160.00 resistance zone. There is a major bullish trend line forming with support near 161.75 on the hourly chart. GBP/USD Technical Analysis This past week, the British Pound attempted a recovery wave above the 1.3120 level against the US Dollar. However, the GBP/USD pair failed to gain strength for a move above the 1.3150 resistance. As a result, the pair reacted to the downside and traded below the 1.3100 level. There was a clear move below the 1.3050 support and the 50 hourly simple moving average. It even spiked below 1.3000 and traded as low as 1.2982 on FXOpen. GBP/USD Hourly Chart It is currently attempting an upside correction above 1.3000. There was a move above the 23.6% Fib retracement level of the recent decline from the 1.3106 swing high to 1.2982 low. However, the pair is facing a major resistance near the 1.3040 and 1.3050 levels. There is also a key bearish trend line forming with resistance near 1.3030 on the hourly chart of GBP/USD. The 50% Fib retracement level of the recent decline from the 1.3106 swing high to 1.2982 low is also above the trend line. The next major hurdle is near 1.3080, above which the pair could rise towards 1.3150 in the near term. If not, the pair might continue to decline below 1.3000. The next major support is near the 1.2950 level. If there is a break below the 1.2950 support, the pair could test the 1.2880 support. Read Full on FXOpen Company Blog...

We can start learning about the Forex market trends and how it will work using the Demo Trading accounts of the FXOpen

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I am doing my Forex Trading with the International Forex Broker FXOpen Markets and they have Fast Deposits and Withdrawals

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

I am doing my Forex Trading with the International Forex Broker FXOpen Markets and they have Fast Deposits and Withdrawals

I can say for sure that in the Forex trading business the main importance is of the Practical Knowledge.

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Easter 2022: Changes to Trading Hours Dear Traders! Please note that for Easter holidays, trading hours for some financial instruments will be changed as follows (all times are GMT+3): Thursday, April 14 Indices: Australia 200 (#AUS200): till 17:00; Europe 50 (#ESX50): till 23:00; France 40 (#FCHI): till 23:00; Germany 30 (#GDAXIm): till 23:00; Hong Kong 50 (#HSI): till 22:00; UK 100 (#UK100): till 23:00. Friday, April 15 Metals: XAUUSD: trading closed; XAGUSD: trading closed. Indices: Australia 200 (#AUS200): trading closed; Europe 50 (#ESX50): trading closed; France 40 (#FCHI): trading closed; Germany 30 (#GDAXIm): trading closed; Hong Kong 50 (#HSI): trading closed; UK 100 (#UK100): trading closed; Japan 225 (#J225): trading closed; US SPX 500 mini (#SPXm): trading closed; US Tech 100 mini (#NDXm): trading closed; Wall Street 30 mini (#WS30m): trading closed. All other financial instruments will be traded without changes. Please consider these changes when planning your trading activities. FXOpen Company News

FXOpen’s TOP-10 March 2022 PAMM Accounts Winter has finally receded, but don’t let the springlike warmth distract you from investing. Our advice is that investors always take care of their portfolios, with the latest changes in the FXOpen PAMM rating in mind. The number of providers on the site is gradually increasing, and the purpose of this PAMM review is to help investors choose what best suits their needs depending on their investment strategy. As of the beginning of April, there are 145 active PAMM managers on the FXOpen platform, with a total investment capital of $2,795,856.00 (USD). FXOpen PAMM

AUD/USD and NZD/USD Turn Red, Risk of More Losses AUD/USD gained bearish momentum below the 0.7550 support zone. NZD/USD started a major decline after it faced sellers near 0.7030. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh decline after it struggled near 0.7660 against the US Dollar. There was a break below a key bullish trend line with support near 0.7530 on the hourly chart of AUD/USD. NZD/USD also started a major decline after it failed to stay above 0.7000. There was a move below a key bullish trend line with support near 0.6950 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar faced a strong selling interest near the 0.7660 level against the US Dollar. The AUD/USD pair started a major decline below the 0.7600 level. There was a clear move below the 0.7600 and 0.7580 support levels. The pair even declined below the 0.7550 support level and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 0.7530 on the hourly chart of AUD/USD. AUD/USD Hourly Chart The pair traded as low as 0.7466 on FXOpen and is currently consolidating losses. On the upside, the AUD/USD pair is facing resistance near the 0.7500 level. The next major resistance is near the 0.7515 level. It is near the 23.6% Fib retracement level of the recent decline from the 0.7660 swing high to 0.7466 low. The first major resistance is now forming near the 0.7550 level. The 50% Fib retracement level of the recent decline from the 0.7660 swing high to 0.7466 low is also near the 0.7565 level. A close above the 0.7565 level could start a steady increase in the near term. The next major resistance could be 0.7660. On the downside, an initial support is near the 0.7460 level. The next support could be the 0.7420 level. If there is a downside break below the 0.7420 support, the pair could extend its decline towards the 0.7350 level. Any more downsides might send the pair toward the 0.7300 level. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD Technical Analysis – 07th APR, 2022 ETHUSD: Double Bottom Pattern Above $3,100 Ethereum failed to continue its bullish momentum last week, and after touching a high of 3578 on April 4th, has started to decline. Ethereum touched an intraday low of $3,143 in the Asian trading session, and an intraday high of $3,233 in the European trading session today. We can clearly see a double bottom pattern above the $3,100 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets. ETH is now trading just above its pivot level of $3,223 and moving in a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of $3,235 and Fibonacci resistance level of $3,246, after which the path towards $3,400 will get cleared. The relative strength index is at 44 indicating a WEAK demand for Ethereum and the move towards consolidation. Both the StochRSI and the Williams percent range are indicating an overbought level which means that the price is due to decline further. Most of the technical indicators are giving a STRONG BUY market signal. Some of the moving averages are giving a BUY signal, and we are now looking at the levels of $3,400 to $3,550 in the short-term range. ETH is now trading below both the 100 hourly and 200 hourly simple moving averages. A bullish reversal seen in Ether above the $3,100 mark The short-term range appears to be mildly BULLISH The daily RSI is near 50 at 53, indicating a NEUTRAL market The average true range is indicating LESSER market volatility Ether: Bullish Reversal Seen Above $3,100 ETHUSD is now moving into a mildly bullish channel with the price trading above the $3,200 handle in the European trading session today. We saw last week that the bullish move was invalidated above the $3,500 handle, and this week, we are looking at the level of $3,400. If ETH manages to cross and remain above these levels, then we can see $3,500 and $3,600 next week. Ethereum is now slowly recovering against the US dollar, and we can see the formation of an ascending contraction triangle which means that the prices are due to break out upwards. ETHUSD is now facing its immediate resistance levels of $3,337 and $3,417, after which we will see a linear progression towards $3,600. The key support levels to watch are $3,175 and $3,153, and the prices of ETHUSD need to remain above these levels for the bullish trend to continue. ETH has lost -4.00% with a price change of -133.99$ in the past 24hrs, and has a trading volume of 22.874 billion USD. We can see a 8.29% decrease in the total trading volume in the last 24 hrs, which appears to be normal. The Week Ahead Last week, we saw Ethereum decline from its highs of $3,579 to the low of $3,143, but now we can see that the prices have entered into a consolidation phase above $3,200. If the price of ETHUSD remains above $3,200, we may see a linear progression towards the level of $3,400 and $3,500 this week. The immediate short-term outlook for Ether has turned mildly BULLISH; the medium-term outlook has turned neutral; and the long-term outlook for Ether is NEUTRAL in present market conditions. This week, Ether is expected to move in a range between $3,200 and $3,400, and next week, Ether is expected to enter into a consolidation phase above the level of $3,400. On-Chain Metrics We can see that the number of active Ethereum addresses are increasing, and it also points to an increase in the price of ETH next week. The simple moving average (14-day) of the active receiving addresses also suggests that more buyers are now coming back into the markets, which has led to an increase in the number of Ethereum transactions. Technical Indicators: The Stoch (9,6): at 74.29 indicating a BUY The average directional Change (14-day): at 54.71 indicating a BUY The commodity channel index (14-day): at 74.31 indicating a BUY The ultimate oscillator: at 62.37 indicating a BUY Read Full on FXOpen Company Blog...

I have been doing my Forex trading from the last 10 Years with the International and Reputed Forex Broker FXOpen Markets They are a True ECN Forex Brokers.

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