FXOpen Trader

I am making use of the EURUSD and the GBPUSD pairs as they have allowed me to do my trades with confidence.

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

When we are doing our trading in the Forex markets we will have to understand the implications of trading with proper controls.

With the help of the Demo based trading accounts we can learn trading and also at the same time start doing better trades.

When we are doing our trades in the London market timings we can get better trading income.

Forex traders need to use such kind of trading skills that can help them in getting a control over their trading based systems.

We will need to develop patience so that we are in a position to do our trading effectively.

to be updated...

Market Analysis: EUR/USD Struggles, USD/JPY Could Extend Gains EUR/USD started another decline from the 1.0915 resistance. USD/JPY surged and broke the 148.00 resistance zone. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.0880 support zone. There was a break below a key bullish trend line with support at 1.0880 on the hourly chart of EUR/USD at FXOpen. USD/JPY climbed higher above the 148.00 and 148.30 levels. There is a connecting bearish trend line forming with resistance at 148.00 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair struggled to clear the 1.0915 resistance zone. The Euro started a fresh decline and traded below the 1.0880 support zone against the US Dollar. There was a break below a key bullish trend line with support at 1.0880. The pair even declined below 1.0840 and tested the 1.0820 zone. A low is formed near 1.0821 and the pair is now correcting losses. On the upside, the pair is now facing resistance near the 50% Fib retracement level of the recent decline from the 1.0916 swing high to the 1.0821 low at 1.0865. The next key resistance is near the 50-hour simple moving average at 1.0880. It is close to the 61.8% Fib retracement level of the recent decline from the 1.0916 swing high to the 1.0821 low. The main resistance is 1.0915. A clear move above the 1.0915 level could send the pair toward the 1.0950 resistance. An upside break above 1.0950 could set the pace for another increase. In the stated case, the pair might rise toward 1.1020. If not, the pair might resume its decline. The first major support on the EUR/USD chart is near 1.0840. The next key support is at 1.0820. If there is a downside break below 1.0820, the pair could drop toward 1.0785. The next support is near 1.0750, below which the pair could start a major decline. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

S&P 500 Trades at Record Highs, Further Adding to US Stock Bonanza Who would have thought it? Two years ago, in the grip of spiralling inflation and a considerable lull in the value of various stock market indices with major North American companies being key contingents, when financial analyses were awash with pessimism, it would have been a hard prediction that the beginning of 2024 would play host to high stock values across the board and a booming US economy. The inflation of 2021 and 2022 was followed by high-profile banking collapses and US involvement in geopolitical instability in various global regions; however, here we are about to enter the final week of the first month of 2024, and the markets are looking extremely healthy. Today's focus for those observing the performance of stock markets is firmly fixed on the S&P 500 index, which concluded the US trading session yesterday at an all-time high. This is a very interesting dynamic, especially considering that this upward direction is not unique to the prestigious stocks of long-established companies included in the S&P 500 index but is also noticeable among other indices in US markets, with the NASDAQ also having increased in value, alluding to a business-as-usual scenario in Silicon Valley. Even more interestingly, this milestone-crossing strength appears to be organic, as there has not been a specific event that could have caused it. Analysis this morning is focusing on relatively well-understood dynamics which have existed in US markets for a while now, alluding to the forthcoming Federal Reserve policymakers meeting on January 30 being anticipated with some degree of optimism and last week's publicised speech by the Federal Reserve Board of Governors member Christopher Waller in which he stated his optimistic point of view that the 2% target of inflation could be reached and sustained within the United States. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

I am making my trades in the EURUSD pairs.

Demo trading accounts will help us in more knowledge and better understanding of the markets.

We will need to use a Broker that is both Reliable and Regulated.

We can make profits if we are trading in the correct time zones and with a proper trading based plan.

We will need to make such kind of trades that can help us in better understanding of the markets.

We must try to use the trading based funds so that our income can also get increased.

When we are trading in the Forex markets we must try to use our trading based skills in a better way.

When we are doing our trades we will need to make use of the proper trading based controls.

We will need to use our trading based signals in the markets with proper controls.

We must be using such lot sizes that are easy to use by us and maintain the profits.

The Price of Bitcoin Has Dropped Below 40,000: What's Next? The value of the main cryptocurrency has fallen below the psychological mark for the first time since December 4th of last year. According to on-chain metrics services, the decline in the price of Bitcoin on cryptocurrency exchanges triggered the liquidation of buyer positions for more than 25 million dollars in just 2 hours. This decline confirms the significance of the three black crows pattern (indicated by the arrow) and the principle of "buy the rumour, sell the fact" – as we discussed in the Bitcoin price analysis on January 15th. What's next? Will the price continue to decrease? JPM head Jamie Dimon, as well as legendary investor Peter Schiff, are pessimistic. In their opinion, Bitcoin is a speculative asset. Jamie Dimon explicitly advises staying away from bitcoins, while Peter Schiff, comparing Bitcoin to gold, prefers the precious metal. On the other hand, the current decrease may indicate a correction within an upward trend. This perspective is held by financial expert and publicist Anthony Scaramucci. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Currencies Consolidate Awaiting Bank of Canada and ECB Verdicts The last full trading week of January is highly saturated with important fundamentals. This morning, the Bank of Japan held its meeting, tomorrow, the Bank of Canada will announce its verdict, and on Thursday, the ECB's press conference is scheduled. Major currency pairs, in anticipation of the mentioned events, continue to trade within narrow corridors formed earlier. USD/CAD The USD/CAD chart shows that the currency pair is trading near recent highs at 1.3520-1.3480. After an early-year rise, the pair retreated to support at the alligator lines on the daily timeframe. Yesterday, the price dropped to 1.3420 but interrupted the downward correction and rose to 1.3480 by evening. With a corresponding fundamental background, the pair may break the upper fractal at 1.3540 and continue to rise towards 1.3680-1.3570. The cancellation of the upward scenario may be considered with a confident fixation below 1.3400. At 16:30 GMT+3 today, we await the publication of data on the new housing price index in Canada for December. Tomorrow at 18:00 GMT+3, the Bank of Canada will announce its decision on the base interest rate. Analysts predict that officials will leave the rate unchanged. For market participants, the Canadian regulator's comments on credit and monetary policy for the current year will be crucial. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

USD/JPY: The Yen Pauses in Anticipation of the Bank of Japan's Decision In 2024, the yen has significantly depreciated against other currencies. The USD/JPY chart indicates that since the first trading day of January, the exchange rate has risen by more than 5%. However, since the 18th, there has been a lull, and it may be disrupted today or tomorrow due to the Bank of Japan's meeting, during which comments on monetary policy will be provided. According to Reuters, traders expect that interest rates will not be raised, remaining in the negative territory. This expectation is based on recent "peaceful" comments from the Bank of Japan, coupled with the country facing a serious test in the form of an earthquake on the west coast. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Microsoft Is at All-Time High Despite Boardroom Email Hack Claim Microsoft Corporation is one of the longer established publicly listed high-technology companies within the North American 'big tech' industry. Its foundation pre-dates the wave of internet giants that rose to prominence at the beginning of this millennium by such a margin that it was in existence and already a major corporation before many of the leaders of other tech firms around the world were actually born. Microsoft's corporate standing differs from many of its peers in many other ways, too. Not only is it based in Seattle, its original homeland, as opposed to Silicon Valley in the next state westward, but it also manufactures computer hardware components as well as software, marking it out as a comprehensive provider of all aspects of the computer science industry. It could be fair to consider that Microsoft was viewed as a potential direct rival for Apple when Apple was founded just one year later, in 1976. Since then, the two have been at the very top of their commercial game. However, Microsoft has recently been going from strength to strength, which is a remarkable feat considering its wranglings with anti-competition authorities in the United Kingdom and the United States, two of its vital markets. This week, however, a further matter of interest has surfaced, adding to the ongoing market value speculation surrounding the viability of Microsoft's proposals to acquire electronic entertainment company Activision Blizzard for almost $69 billion, which has been an ongoing matter since the beginning of 2022. As Microsoft's stock made an overall upward movement during the course of last year in the face of anti-competition authorities putting the brakes on the progress of the company's plans to acquire Activision Blizzard, the new year arrived with the deal still not complete and the American authorities sticking firmly to their premise that such an acquisition would create the largest corporate entity in the video game industry worldwide, potentially lessening the ability for other globally established companies such as Sony to compete in the market with its Playstation range of video games. This matter rumbled on within the United States, but the British authorities made their decision to approve the merger later last year. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

EUR/USD, GBP/USD, USD/JPY Analysis: The Dollar Is Weakening Against the Euro and Pound Recent economic data and comments from Federal Reserve representatives have dampened expectations of a rapid interest rate cut. More optimistic than expected consumer sentiment data added to the list of reliable economic data published this week, including retail sales and unemployment benefit claims. The positive indicators eased expectations that the Fed would begin lowering the key rate as early as March and provided confidence that the US economy is not immediately threatened by a recession. The dollar index, which tracks the dollar's value against a basket of six currencies, fell by 0.08% to 103.26, although it rose by 0.8% over the week. EUR/USD The EUR/USD pair is showing a modest increase, developing a corrective impulse formed last week. The euro is testing the 1.0900 level for an upward breakout amid the absence of macroeconomic publications. According to EUR/USD technical analysis, immediate resistance can be seen at 1.0909, and a breakthrough could trigger an increase to 1.0958. On the other hand, the nearest support is at 1.0844, and a break below could lead the pair to 1.0800. Investors will focus on the monthly report from the German Bundesbank during the day, which may influence market expectations regarding the pace of possible ECB interest rate cuts this year. Additionally, on Wednesday, January business activity statistics in the services sector will be presented in the EU and the US. Predictions suggest that the Eurozone services sector index from S&P Global will strengthen from 48.8 to 49.0, while in the US, it will decrease from 51.4 to 51.0. On Thursday, a meeting of the European regulator will take place, and officials may provide comments that will affect the movement of the single currency quotes, although no changes in the direction of the agency's monetary policy are expected: the interest rate is expected to remain at 4.50%, and the deposit rate at 4.00%. The price broke the upper boundary of the descending channel and may continue to rise. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.