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GBP/USD and EUR/GBP Remain At Risk of More Losses GBP/USD started a fresh decline from well above the 1.3250 level. EUR/GBP is also declining and trading below the 0.8350 support zone. Important Takeaways for GBP/USD and EUR/GBP The British Pound started a fresh decline from well above 1.3250 against the US Dollar. There was a break below a key contracting triangle with support near 1.3170 on the hourly chart of GBP/USD. EUR/GBP failed to stay above 0.8380 and started a fresh decline. There was a move below a major rising channel with support near 0.8335 on the hourly chart. GBP/USD Technical Analysis The British Pound struggled to settle above the 1.3280 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3250 support zone. There was a clear move below the 1.3220 level and the 50 hourly simple moving average. The bears pushed the pair below the 1.3200 level. There was a break below the 50% Fib retracement level of the upward move from the 1.3120 swing low to 1.3298 high (formed on FXOpen). GBP/USD Hourly Chart Besides, there was a break below a key contracting triangle with support near 1.3170 on the hourly chart of GBP/USD. The pair is now trading below the 76.4% Fib retracement level of the upward move from the 1.3120 swing low to 1.3298 high. It seems like the pair might continue to move down towards the 1.3130 support zone. The next major support sits near the 1.3120 level. Any more losses could lead the pair towards the 1.3050 support zone. On the upside, an initial resistance is near the 1.3175 level. The next main resistance is near the 1.3185 zone (the previous support) or the 50 hourly simple moving average. A clear upside break above the 1.3185 and 1.3200 resistance levels could open the doors for a steady increase in the near term. Read Full on FXOpen Company Blog...

Gold Price and Crude Oil Price Eye Additional Gains Gold price started a fresh increase above the $1,950 resistance. Crude oil price could regain traction if it stays above the $105 support zone. Important Takeaways for Gold and Oil Gold price started a fresh increase above $1,930 and $1,950 against the US Dollar. There was a break above a key bearish trend line with resistance near $1,932 on the hourly chart of gold. Crude oil price also started a fresh increase from the $95 support zone. Recently, there was a break below a major bullish trend line with support near $113.30 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price formed a support base near $1,910 and started a fresh increase against the US Dollar. The price gained pace for a move above the $1,930 level to move into a positive zone. There was a clear move above the $1,950 level and the 50 hourly simple moving average. The price even climbed above the $1,960 resistance level. Besides, there was a break above a key bearish trend line with resistance near $1,932 on the hourly chart of gold. Gold Price Hourly Chart A high was formed near $1,965 on FXOpen and the price is now consolidating gains. On the downside, an initial support is near the $1,958 level. The first major support is near the $1,952 level. It is near the 23.6% Fib retracement level of the upward move from the $1,910 swing low to $1,965 high. The next major support is near the $1,950 level. The main support sits near the $1,938 level. It is near the 50% Fib retracement level of the upward move from the $1,910 swing low to $1,965 high. On the upside, the price is facing resistance near the $1,965 level. The main resistance is now forming near the $1,980 level. A close above the $1,980 level could open the doors for a steady increase towards $2,000. The next major resistance sits near the $2,030 level. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD Technical Analysis – 24th MAR, 2022 ETHUSD: Double Bottom Pattern Above $2,800 Ethereum continues its upwards momentum from last week and has managed to cross the $3,000 levels in today’s European trading session. The continued appreciation in the price of ETHUSD is a result of an increased demand for holding ETH amid its transition to ETH 2.0. In today’s early Asian trading session, Ethereum touched an intraday high of $3,078 and an intraday low of $2,972. We can clearly see a double bottom pattern above the $2,800 handle, which is bullish, and signifies the end of a bearish phase and the start of a bullish phase in the markets. ETH is now trading just below its pivot level of $3,055 and moving within a bullish channel. The price of ETHUSD is testing its classic resistance level of $3,067 and Fibonacci resistance level of $3,079 after which the path towards $3,200 will get cleared. The relative strength index is at 57 indicating a STRONG demand for Ethereum and the continuation of buying pressure in the markets. All of the technical indicators are giving a STRONG BUY market signal. All of the moving averages are giving a BUY signal, and we are now looking at the levels of $3,200 to $3,300 in the short-term range. ETH is now trading above both its 100 hourly and 200 hourly simple moving averages. Ether continues its bullish momentum above the $2,800 mark The short-term range appears to be strongly BULLISH The daily RSI is above 50 at 61, indicating a BULLISH market The average true range is indicating LESSER market volatility Ether Continues Bullish Momentum Above $2,800 ETHUSD has gained a strong bullish momentum with the price trading above the $3,000 handle in the European trading session today. We can see continued gains in the prices of Ethereum since it touched a low of $2,171 on January 24th, which translates to a gain of 39% in 2 months. Ethereum is now moving in a bullish continuation pattern which indicates further appreciation in the prices of ETHUSD this week. ETHUSD is now facing its immediate resistance level of $3,070, after which we will see a linear progression towards $3,200. This week’s key support level to watch is $3,000, and key resistance level is $3,100. ETH has gained 3.06% with a price change of 90.27$ in the past 24hrs, and has a trading volume of 17.442 billion USD. We can see a 25.59% increase in the total trading volume in the last 24 hrs. as more long-term investors are coming back into the markets. The Week Ahead At present, Ethereum bulls have managed to push the prices of ETHUSD above $3,000. If the price of ETHUSD remains above these levels, we may see a linear progression towards $3,200 and $3,300 this week. The immediate short-term outlook for Ether has turned strongly BULLISH, the medium-term outlook has turned bullish, and the long-term outlook for Ether is NEUTRAL in present market conditions. This week, Ether is expected to move in a range between $3,000 and $3,200, and next week, Ether is expected to enter a consolidation phase above $3,200. ETH 2.0 Ethereum is to enter into a proof-of-stake consensus mechanism which will eliminate the high energy mining requirements and also bring down the ETH transaction fees. This Ethereum 2.0 upgrade will happen in phases. The final transition will reduce the total energy requirements by 99% and at the same time scale the network capacity by increasing the number of transactions to 100,000 transactions per second (TPS). In comparison, at present, the leading payment service network VISA can process up to 65,000 TPS. Technical Indicators: The moving averages convergence divergence (12,26): at 15.93 indicating a BUY The ultimate oscillator: at 54.44 indicating a BUY Rate of price change: at 2.514 indicating a BUY The Williams percent range: at -31.74 indicating a BUY Read Full on FXOpen Company Blog...

EUR/USD Faces Hurdle, USD/CHF Could Gain Pace EUR/USD is facing resistance near the 1.1050 and 1.1080 levels. USD/CHF could gain pace if there is a move above the 0.9375 resistance. Important Takeaways for EUR/USD and USD/CHF The Euro started a downside correction from the 1.1140 resistance zone against the US Dollar. There is a key bearish trend line with resistance near 1.1040 on the hourly chart of EUR/USD. USD/CHF formed a base above the 0.9300 support zone and corrected higher. There was a break above a major bearish trend line with resistance near 0.9330 on the hourly chart. EUR/USD Technical Analysis The Euro gained pace above the 1.1000 resistance level against the US Dollar. The EUR/USD pair even gained pace above the 1.1100 resistance level. It traded as high as 1.1139 on FXOpen before the pair started a downside correction. There was a sharp decline below the 1.1100 and 1.1020 support levels. The pair even spiked below 1.1000 and traded as low as 1.0916. EUR/USD Hourly Chart EUR/USD is now rising and trading above 1.1000. There was a break above the 50% Fib retracement level of the recent decline from the 1.1071 swing high to 1.0961 low. It is now consolidating above the 1.1020 level and the 50 hourly simple moving average. On the upside, an initial resistance is near the 1.1040 level. There is also a key bearish trend line with resistance near 1.1040 on the hourly chart of EUR/USD. The next major resistance is near the 1.1070 zone. A clear upside break above the 1.1070 zone could open the doors for a steady move. The next major resistance sits near the 1.1140 level. On the downside, an immediate support is near the 1.1015 level. The next major support is near the 1.0950 level. A downside break below the 1.0950 support could start another decline. Read Full on FXOpen Company Blog...

FXOpen Redefining Online Trading 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 Ultra-fast execution Your choice of trading strategy 16+ Years of Experience 3 Trading Platforms - TickTrader, MetaTrader4, MetaTrader5 100+ Markets offered 2000+ Trading Instruments FXOpen Global

BTCUSD and XRPUSD Technical Analysis – 22nd MAR 2022 BTCUSD: Bullish Engulfing Pattern Above $38,000 Bitcoin’s bearish phase has ended after touching a low of $37,649 on March 14th. As of now, the price of BTCUSD is moving in a bullish momentum above the $40,000 handle. A renewed interest in bitcoin is observed as an alternative means of currency in Russia after the global bans imposed against Russian banks. This is one of the reasons why many investors are now buying bitcoin at present market levels. In today’s European trading session, the propagation of the bullish trend continues with bitcoin trading above $42,000. We can clearly see a bullish engulfing pattern above the $38,000 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend. The Stoch and Williams percent range are indicating an overbought level which means that in the immediate short term, a decline in the prices is expected. The relative strength index is at 60 indicating a STRONG demand for bitcoin at the current market levels. Bitcoin is now moving above its 100 hourly simple moving average and its 200 hourly EMA. All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term we are expecting targets of $43,000 and $45,000. The average true range is indicating HIGH market volatility with a strong bullish momentum. A bullish reversal is seen in bitcoin above $38,000 The Williams percent range is indicating an OVERBOUGHT level The price is now trading just below its pivot level of $42,357 All of the MAs are giving a STRONG BUY market signal Bitcoin: Bullish Reversal Seen Above $38,000 Bitcoin continues its strong bullish momentum with an upwards projection towards the level of $43,000 in the European trading session today. In the immediate term, we are expecting a continuation of this bullish trend with the price of bitcoin ranging between $41,000 and $44,000 as it is due to enter into a consolidation phase. The surge in the prices of bitcoin can also be explained by the optimism around the widespread usage of bitcoin in international cross border transactions between Russia and its trade partners. The immediate short-term outlook for bitcoin is strongly bullish; the medium-term outlook is neutral; and the long-term outlook remains neutral under present market conditions. The price of BTCUSD is now facing its classic resistance level of $42,703 and Fibonacci resistance level of $43,197, after which the path towards $44,000 will get cleared. We can see that the daily RSI is also printing at 56 which indicates that in the medium-term prices are expected to appreciate further. In the last 24hrs, BTCUSD has gone UP by 2.45% with a price change of $1,009, and has a 24hr trading volume of 33.989 billion USD. We can see an increase of 53.18% in the trading volume as compared to yesterday, which is due to its increased global demands. The Week Ahead The price of bitcoin is due to enter a consolidation phase below $43,000. We can see some range-bound movements in its levels between $41,000 and $44,000. The on-chain metrics are also indicating a bullish outlook for bitcoin in the short-term range. In the immediate short term this week, bitcoin’s bullish momentum is expected to continue pushing its levels above the $44,000. Also this week, the price of BTCUSD will need to remain above the important support level of $40,000. The weekly outlook is projected at $44,000 with a consolidation zone of $42,500. Technical Indicators: The relative strength index (14-day): at 56.28 indicating a BUY The average directional change (14-day): at 20.49 indicating a BUY The rate of price change: at 9.16 indicating a BUY The MA convergence divergence (12,26): at 420.80 indicating a BUY Read Full on FXOpen Company Blog...

I am doing my Forex Trading with the ECN Forex Broker FXOpen Markets and they allow me to do News Trading and Scalping

I am doing my Forex Trading with the ECN Forex Broker FXOpen Markets and they allow me to do News Trading and Scalping

We need to bring down the Risks that are present into our trades.

We have to make use of the Lower leverage settings.

I am doing my Forex Trading with the ECN Forex Broker FXOpen Markets and they allow me to do News Trading and Scalping

We will need to understand the benefits of doing our trades according to a trading based plan.

Forex trading will start giving us the required amounts of profits after some time.

We have to make use of the correct leverage settings so t hat the risks will come down for us.

We will need to start doing such types of trades that will bring down the risks present into our trades.

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

We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen

When we are a Newbie traders we will need to start doing our trades according to a trading based plan.

We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen

We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen