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FXOpen Trader
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Nikkei 225 Index Price Sets 34-year High
The price of the Nikkei 225 index is fixed above the level of 37,000 points. The last time this happened was after the index reached its all-time high in 1989.
The bullish behavior of the Japanese stock market has the following reasons:
→ Strong corporate reporting. In particular, SoftBank shares rose 11% due to increased sales of its subsidiary Arm, which develops chips for the development of artificial intelligence.
→ Dovish view of the Bank of Japan's monetary policy. Thus, Bank of Japan Vice Governor Shinichi Uchida said that the central bank will not aggressively tighten its monetary policy even if it ultimately decides to end negative interest rates.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.
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Watch FXOpen's 05 - 09 February Weekly Market Wrap Video
Weekly Market Wrap With Gary Thomson: S&P 500, CAD, GBP/USD, AMZN
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of -FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
- The Price of S&P 500 Sets Historical Record By Exceeding 5,000 #SP500
- CAD Strengthened After Statements from the Head of the Bank of Canada #CAD
- GBP/USD Displays Volatility as Pound Demonstrates Low Performance #GBPUSD
- AMZN Share Price Rises Nearly 8% after Report #Amazon #AMZN
Stay in the know and empower yourself with our short, yet power-packed video.
Watch it now and stay updated with FXOpen.
Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.#fxopen #fxopenyoutube #fxopenuk #fxopenint #weeklyvideo
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Bitcoin Recovers to January 11 Prices When ETFs Were Approved
Waiting for SEC regulatory approval of applications to create a Bitcoin ETF was an important driver of Bitcoin price growth at the end of 2023. However, when applications were actually approved on January 11, 2024 (here is what we wrote about it), there was a decline in cryptocurrency prices.
In particular, the price of Bitcoin decreased from a maximum of January 11 at USD 48,877 per coin, dropping below USD 40k in the twenties of January.
Fortunately for investors in the cryptocurrency market, the collapse did not occur, and today the price of Bitcoin exceeded USD 46k, thereby recovering to the levels of January 11.
This was facilitated by:
→ the Chinese New Year (celebration begins on February 10). As crypto media write, traditionally during this period there is an optimistic revival in the cryptocurrency market.
→ Interest in investing in risky assets in anticipation of the Fed lowering interest rates. Access to cryptocurrency investments has become easier with the approval of ETFs.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.
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USD/JPY Reaches 10-week High amid Statements by Head of Bank of Japan
Bank of Japan Governor Kazuo Ueda said today that there is a high likelihood that accommodative monetary conditions will continue even after the bank ends its negative interest rate policy — an event that is expected as early as next month, according to Reuters.
On the other hand, the USD index has been strengthening since the beginning of 2024, indicating that market participants assume that the easing of the current tight Fed policy may last longer.
As a result, the price of USD/JPY rises again towards the psychological level of 150 yen per dollar.
The weekly USD/JPY chart shows that:
→ After an attempt at a bullish breakout of this level in the fall of 2022, a strong bearish impulse occurred (justified by the actions of the Bank of Japan to protect the yen), and the price dropped below the level of 130 yen per dollar in early 2023.
→ After an attempt at a bullish breakout in the fall of 2023, a less powerful bearish movement formed, the rate did not fall below 140 yen per dollar.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.
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Market Analysis: AUD/USD Struggles While NZD/USD Grinds Higher
AUD/USD is declining below the 0.6540 support zone. NZD/USD is rising and could extend its increase above the 0.6130 resistance zone.
Important Takeaways for AUD USD and NZD USD Analysis Today
- The Aussie Dollar started a fresh decline below the 0.6540 level against the US Dollar.
- There is a connecting bearish trend line forming with resistance near 0.6510 on the hourly chart of AUD/USD at FXOpen.
- NZD/USD is gaining bullish momentum above the 0.6080 support.
- There was a break above a major bearish trend line with resistance at 0.6105 on the hourly chart of NZD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly chart of AUD/USD at FXOpen, the pair struggled to stay above the 0.6600 pivot zone. The Aussie Dollar started a fresh decline below the 0.6550 and 0.6540 levels against the US Dollar.
The pair even settled below the 0.6510 level and the 50-hour simple moving average. Finally, it tested the 0.6480 support zone. The recent low was formed near 0.6480 and the pair is now consolidating losses near the 23.6% Fib retracement level of the downward move from the 0.6540 swing high to the 0.6480 low.
On the upside, the AUD/USD chart indicates that the pair is now facing resistance near a connecting bearish trend line at 0.6510. The trend line is near the 50% Fib retracement level of the downward move from the 0.6540 swing high to the 0.6480 low.
The first major resistance might be 0.6540. An upside break above the 0.6540 resistance might send the pair further higher. The next major resistance is near the 0.6610 level. Any more gains could clear the path for a move toward the 0.6660 resistance zone.
On the downside, initial support is near the 0.6480 zone. The next support could be the 0.6470 zone. If there is a downside break below the 0.6470 support, the pair could extend its decline toward 0.6420. Any more losses might signal a move toward 0.6380.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.
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EURUSD Technical Analysis – 09th FEB, 2024
EURUSD – Bullish Price Crossover Pattern
EURUSD is moving in a mild bullish momentum after crossing the 1.0770 levels as the prices are ranging near the support of the channel in the 15-minutes timeframe.
We can also see that the MACD has crossed UP its moving average and Williams percent range indicator is back over -50 in the 15-minutes timeframe indicating the bullish nature of the markets.We can see the formation of Bullish price crossover pattern with moving average 50 in the 1-hourly timeframe, with immediate targets of 1.0800.
The prices of EURUSD are ranging near the support of channel in the weekly timeframe.Most of the moving averages are giving a bullish signal at the current market levels of 1.0776.
EURUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving averages.- Euro bullish continuation seen above the 1.0729 mark.
- Short-term range appears to be mildly bullish.
- EURUSD continues to remain above the 1.0750 levels.
- Average true range ATR is indicating less market volatility.
The next resistance is located at 1.0785 which is a 14-3 Day Raw Stochastic at 30%.
EURUSD is now trading just above its Pivot levels of 1.0771 and is moving into a Mild Bullish Channel. The price of EURUSD has already crossed its Classic resistance levels of 1.0768 and is moving towards its next target of 1.0800.Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.
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AUDUSD Technical Analysis – 09th FEB, 2024
AUDUSD – Bullish Trend Reversal
AUDUSD has resumed its Uptrend from its lows of 0.6468 on 05th Feb in the 1-hourly timeframe. The Adaptive Moving Averages AMA20 and AMA50 both are giving a Bullish trend reversal signal.
We can see that the prices are ranging near the support of the triangle in the weekly timeframe indicating the Bullish nature of the markets.Most of the major technical indicators are giving a Strong Buy with immediate targets of 0.6530.
We have also seen the formation of Doji in both the 15-minutes and 30-minutes timeframe indicating a Neutral stance of the markets and the continuation of the consolidation phase.AUDUSD is now trading below its both the 100-hour SMA simple moving average and 200-hour SMA simple moving average.
- AUDUSD bullish reversal seen above the 0.6468 mark.
- Short-term range appears to be mildly bullish.
- AUDUSD continues to remain above the 0.6480 levels.
- Average true range ATR is indicating less market volatility.
AUDUSD is now trading just below its Pivot levels of 0.6496 and is moving into a Mild Bullish Channel. The price of AUDUSD is near to its Classic resistance levels of 0.6496 and is inching closer towards the 0.6530 levels.
Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.
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GBPUSD Technical Analysis – 08th FEB, 2024
GBPUSD – Aroon indicator bullish trend
GBPUSD has resumed its Uptrend from its lows of 1.2518 on 05th Feb in the 1-hourly timeframe. The Aroon indicator is giving a bullish trend formation with immediate targets of 1.2660 after which we can see some consolidation coming into the markets.
We can see the formation of Bullish trend reversal pattern with the Moving Average 20, MA20 in the 4-hourly timeframe.
The prices of GBPUSD are ranging near support of channel in the 15-minutes timeframe.Most of the moving averages are giving a bullish signal at the current market levels of 1.2627.
GBPUSD is now trading above its 100-hour SMA simple moving average and below its 200-hour SMA simple moving average.• Pound bullish reversal seen above the 1.2518 mark.
• Short-term range appears to be mildly bullish.
• GBPUSD continues to remain above the 1.2620 levels.
• Average true range ATR is indicating less market volatility.GBPUSD is now trading just below its Pivot levels of 1.2631 and is moving into a Mild Bullish Channel. The price of GBPUSD has already crossed its Classic resistance levels of 1.2628 and is inching closer towards the 1.2660 levels.
Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Newbie traders and they should know about the risks of Forex trading.
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EURUSD Technical Analysis – 06th FEB, 2024
EURUSD – Resistance of the Channel is Broken
EURUSD has broken the resistance of the channel in the 1-hourly timeframe. We can see the formation of an Uptrend with the immediate targets of 1.0770 today.
We can see the formation of Bullish price crossover pattern with adaptive moving average 100 in the 30-minutes timeframe.The Momentum indicator is back over 0 indicating a Bullish trend.
Most of the moving averages are giving a bullish signal at the current market levels of 1.0744.EURUSD is now trading below its both the 100-hour simple SMA and 200-hour exponential EMA moving averages.
• Euro bullish reversal seen above the 1.0736 mark.
• Short-term range appears to be mildly bullish.
• EURUSD continues to remain above the 1.0730 levels.
• Average true range ATR is indicating less market volatility.EURUSD is now trading just below its Pivot levels of 1.0751 and is moving into a Mild Bullish Channel. The price of EURUSD is now testing its Classic resistance levels of 1.0749 after which the path towards 1.0770 will get cleared.
Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Newbie traders and they should know about the risks of Forex trading.
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Daily Market Analytics - Forex
Dear Traders,
Here i will be posting the Daily Market Analytics in the Forex pairs listed below:
- EURUSD
- GBPUSD
- AUDUSD
- NZDUSD
- USDCAD
- USDCHF
- USDJPY
- EURJPY
- GBPJPY
- EURGBP
I am using the Candlestick patterns and Major Technical indicators for this analysis which will be posted -> pre London markets Open time.
Thanks
- EURUSD
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On 8/31/2023 at 3:03 AM, radex78 said:
There are so many mistakes could happen in trading tha can be valuable lesson if we can learning from it. Greedy, over confident, fears, fear of missing out. including a mistakes that appear from own selves and we can learn from it to improve skills.
If we will be able to minimize the mistakes in doing the trades the profits can be started.
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On 1/16/2023 at 4:52 AM, radex78 said:
Yes of course, we need to understand with our strategy and choose the best and suitable trading strategy based psychology trading, because not all strategy suits to our minds, sometimes trader suit using short term and another more prefer long term trading.
We can start using the Hedging strategy if we are not sure about the markets and the movements it makes.
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On 1/17/2023 at 5:29 AM, radex78 said:
I am still trading in forex and not yet and maybe never interesting to trade on binary option, forex in my view is more pure business buy and sell currency using another currency in spot market, while binary option just like bet price will rise or down based time
I am doing trades in the Forex markets which has been very profitable to me.
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On 1/17/2023 at 5:27 AM, radex78 said:
Martingale trading strategy is extremely risky, rarely traders able making profit for long term working based martingale, I don't like this trading strategy working like as revenge to the market because traders multiply lot size in every step when getting loss.
We will need to learn and use such kind of a trading based system that is more profitable for us.
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On 5/26/2023 at 3:29 PM, James Mcgrant said:
I trade with an ASIC broker known as FP Markets; their spreads are some of the lowest, starting at 0.0 pips in EURUSD and 0.2 in other major pairs.
Their demo account also provides educational materials for beginner traders, and there are no issues such as spreads widening or server issues.
I am doing my Forex Trading with the International Forex Broker FXOpen Markets and they have Fast Deposits and Withdrawals
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On 2/1/2023 at 9:59 AM, Namu said:
Forex trading will be greatly benefited if the trader himself already fully knows and understands all of its workings. That is why traders must truly be learned and mastered everything, so that they can later be benefited. This is also what I always do at FreshForex broker and regularly follow the education provided.
I have been making use of the FXOpen Broker and it accepts the Bitcoins for the Deposits
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On 2/24/2023 at 4:59 AM, radex78 said:
Beginners traders suitable to use micro account and start trading with low budget below $100, they can safe trade using smallest micro lot. If micro account able to make the money grow to bigger, then they can trying standard account to get new challenge.
We will need to start using the ECN based accounts as they have lowest market spreads.
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On 3/7/2023 at 5:00 AM, radex78 said:
Reading the news also good to broaden new insight about forex market, sometimes the currency movement there are correlation between economic condition and not only based on technical view, forex is complex although in practice can trade with simple way.
We must make some research so that we are able to understand about the markets and make some trading based decisions.
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On 3/22/2023 at 4:26 AM, radex78 said:
For beginners don't trade on exotic pairs like EURTRY or USDTRY, etc. Because exotic pairs were too risky, the pairs charged big spreads, and high volatile, beginners suggested trading on the major pair low spread like EURUSD, and AUDUSD, in FXOpen the spreads start from 0.0 pips, and possible get negative spreads in ECN account using MT4 or TickTrader terminal platform.
I am making use of the EURUSD and the GBPUSD pairs as they have allowed me to do my trades with confidence.
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On 6/12/2023 at 5:52 AM, Andrae said:
Always select a broker based on your own expertise and trading experience. Never take advantage of any marketing advertising, referrals, or suggestions from others.
I am doing my Forex Trading with the International Forex Broker FXOpen Markets and they have Fast Deposits and Withdrawals
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On 4/24/2023 at 5:03 AM, radex78 said:
When we work trading in real accounts, will get real trading experience already involved emotion in trading because working in real accounts we want to make a profit and fear to losing money, this could impact to the trading habit, and we must work fully disciplined based rules trading.
When we are doing our trading in the Forex markets we will have to understand the implications of trading with proper controls.
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On 5/1/2023 at 12:35 PM, Namu said:
The demo account facilities provided by brokers are really very helpful, and in addition to the demo account, FreshForex broker also provides education for traders who want to know more about the forex market. I myself have been a member here for a long time, and I can also maximize profits by taking advantage of the 300% deposit bonus.
With the help of the Demo based trading accounts we can learn trading and also at the same time start doing better trades.
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On 6/2/2023 at 4:59 AM, radex78 said:
I like trading in the London market overlaps the New York market, the higher volatility can easily catch profit and loss. The spread also often gets zero if trading EURUSD.
When we are doing our trades in the London market timings we can get better trading income.
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On 6/20/2023 at 8:42 PM, nanamage said:
With a small capital, we can do forex trading. I prefer trading on my own rather than trusting my money with other people because there are lots of high-profit offers, but after the deposit of the money, they go and disappear, so be careful when investing.
Forex traders need to use such kind of trading skills that can help them in getting a control over their trading based systems.
Daily Market Analysis By FXOpen
in Technical Analysis
Posted
Markets Await Publication of Key Macroeconomic Statistics from the US and UK
Tomorrow, January inflation data in the United States will be presented: the consumer price index in monthly terms is projected to slow from 0.3% to 0.2%, and in annual terms from 3.4% to 3.0%, the upper limit of the target range of the US Federal Reserve. The indicator excluding food and energy prices may be adjusted from 3.9% to 3.8%. With the opening of the American session, the focus will shift to January inflation data in the United States. Analysts do not expect significant fluctuations in the indicator, but still hope that the publication will become a new impetus for the early easing of monetary policy by the US Federal Reserve. Thus, experts expect that the consumer price index will decrease from 3.4% to 3.0% on an annual basis and from 0.3% to 0.2% on a monthly basis. Markets have almost completely revised expectations for the regulator's March meeting and are now inclined to believe that the interest rate will be adjusted by 25 basis points in May.
EUR/USD
The EUR/USD pair is showing moderate growth, developing upward dynamics since February 6. The euro is testing the 1.0790 mark for an upward breakout, updating local highs from February 2. Immediate resistance can be seen at 1.0805, an upward breakout could trigger an increase to 1.0897. On the downside, immediate support is seen at 1.0767, a break below could take the pair towards 1.0750.
At the same time, activity on the market remains quite restrained, and trading participants are in no hurry to open new positions ahead of the publication of macroeconomic statistics. On Wednesday, investors will evaluate the final data on eurozone GDP for the fourth quarter of 2023, as well as December statistics on industrial production. Forecasts suggest the region's economy will gain another 0.1% annual growth, while industrial output could fall 4.1% from -6.8% in the previous month. Last Friday, the eurozone published data on inflation in Germany: the consumer price index in January was 0.2%, the same as a month earlier, which coincided with market expectations, and in annual terms the figure remained at 2.9%.
Technical analysis of EUR/USD shows that a new upward channel has formed based on last week’s highs. Now the price has moved away from the upper limit and may continue to decline.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). 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.