FXOpen Trader

We will need to understand the importance of doing our trading with the Support and Resistance levels.

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

I have been doing my trading in the Forex markets from the last 10 years with the use of the Meta Trader 4

In the business of Foreign Exchange market we will need to use a Trading Plan that is Easy to understand by us.

GBP/USD and EUR/GBP Aim More Upsides GBP/USD is eyeing an upside break above the 1.3820 resistance zone. EUR/GBP is rising and it could gain pace if it clears the 0.8465 resistance. Important Takeaways for GBP/USD and EUR/GBP The British Pound was able to gain pace above the 1.3700 and 1.3750 resistance levels. There is a key rising channel forming with support near 1.3760 on the hourly chart of GBP/USD. EUR/GBP formed a support base above 0.8420 and started a fresh increase. There was a break above a major bearish trend line with resistance near 0.8440 on the hourly chart. GBP/USD Technical Analysis The British Pound started a major increase from the 1.3440 support zone against the US Dollar. The GBP/USD pair traded above the 1.3600 resistance zone to move into a positive zone. The pair even broke the 1.3750 resistance zone and settled above the 50 hourly simple moving average. It even spiked above 1.3800 and traded as high as 1.3835. GBP/USD is now correcting gains and trading below 1.3800. GBP/USD Hourly Chart An immediate support is near the 1.3760 level. It is near the 23.6% Fib retracement level of the upward move from the 1.3413 swing low to 1.3835 high. It is now consolidating near the 1.3780 level. There is also a key rising channel forming with support near 1.3760 on the hourly chart of GBP/USD. A downside break below the channel support might even push the pair below the 1.3700 support zone. The next major support is near the 1.3650 level. The 50% Fib retracement level of the upward move from the 1.3413 swing low to 1.3835 high is also near the 1.3650 zone. Any more downsides might call for a move towards the 1.3600 level. On the upside, the pair is facing resistance near 1.3820. If there is an upside break above the 1.3820 resistance, the price could surpass 1.3850. The next main resistance is near the 1.3920 zone, above which the pair could rise towards the 1.4000 level in the near term. Read Full on FXOpen Company Blog...

Gold Price and Crude Oil Price Eye Upside Break Gold price is facing resistance near $1,790 and $1,800. Crude oil price remains elevated above the key $80.00 pivot level and it is eyeing more upsides. Important Takeaways for Gold and Oil Gold price started a decent increase above the $1,760 resistance against the US Dollar. There was a break above a major contracting triangle with resistance near $1,785 on the hourly chart of gold. Crude oil price extended its rally towards the $83.70 level before it started a downside correction. There is a key bullish trend line forming with support near $81.30 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price started a fresh increase above the $1,750 pivot level against the US Dollar. The price gained pace and it was able to settle above the $1,780 resistance zone. A high was formed near $1,800 on FXOpen and the price corrected lower. There was a break below the $1,780 and $1,775 levels. However, the bulls were active above the $1,750 level. A low was formed near $1,760 and the price is now rising. Gold Price Hourly Chart The price is back above the $1,780 level and the 50 hourly simple moving average. It also surpassed the 50% Fib retracement level of the key drop from the $1,800 swing high to $1,760 low. There was also a break above a major contracting triangle with resistance near $1,785 on the hourly chart of gold. An immediate resistance on the upside is near the $1,788 and $1,790 levels. It is near the 76.4% Fib retracement level of the key drop from the $1,800 swing high to $1,760 low. The first major resistance is near the $1,792 level. The main resistance is near the $1,800 level. A close above the $1,800 level could open the doors for a move towards $1,820. On the downside, the first major support is near the $1,782 level and the 50 SMA. A downside break below the $1,762 support zone may possibly call for a test of the $1,765 support zone in the near term. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD Technical Analysis – 21st OCT, 2021 ETHUSD: Bullish Engulfing Pattern Above $4000 Ethereum is moving in a strong bullish momentum after clearing the psychological resistance level of $4000. The price of ETHUSD touched an intraday high of $4241 in the Asian trading session and is now preparing for its next rally towards the $5000 handle. ETH is now trading above its pivot level of $4157 and Fibonacci resistance level of $4169. The price of Ethereum is surging continuously today and is about to break its classic resistance level of $4206. Ether is expected to maintain the bullish tone this week and continue towards the $4500 mark as the bulls take over. All the major technical indicators are giving a BUY signal. ETH is now moving above both the 100 hourly and 200 hourly simple moving averages. Bullish engulfing pattern above $4000 suggests that we could witness a fresh rally towards $5000 soon. Ethereum continues to remain above the psychological level of $4000 Short-term to medium-term outlooks remain bullish for ETHUSD All the moving averages are giving a STRONG BUY signal The pair is expected to touch $4500 in the US trading session today Ether’s Rally Towards $5000 Confirmed ETHUSD is consolidating its gains above $4000 and is now preparing for its next upwards move against the US dollar. ETH is now facing its next major resistance levels of $4240 and $4320, after which the path towards $4500 will get cleared. After surging above $4000, Ethereum’s volatility is low, suggesting that now investors are waiting to enter the market anticipating a major bullish move. ETH has gained 8.79% with a price change of +$339.35 in the past 24hrs and has a trading volume of 24.516 billion USD. Ethereum ETF The total market capitalization of Ethereum continues to increase, and at present is valued at 455 billion USD. The investors are eagerly waiting for the launch of Ethereum ETF in the US markets, which would bring a larger number of investors into its domain. Grayscale has announced its plans to launch an ETF based on Ethereum. At the moment, 4 Ethereum ETFs are trading in Canadian securities exchange, and plans are on to launch in the US market. Some crypto analysts believe that with the Ethereum ETFs, more institutional investors will come in, leading to its higher demand and a surge in the price well above $6000. The Week Ahead Ethereum dips remain well supported, and an increased buying pressure is seen above the $4000 mark. The bullish trend continues from last week. Any bearish corrections will serve as a buying opportunity for long-term traders. This week we may witness Ethereum touching the levels of $4500 — and then extending its rally towards the $5000 handle in the opening of the next week. As the price of ETHUSD remains above its 100 hourly exponential moving average, a breakout above $4400 is expected this week. Technical Indicators: Average directional change (14-day): at 48.125 indicating a BUY Bull/Bear power (13-day): at 47.63 indicating a BUY Rate of price change: at 1.148 indicating a BUY Moving averages convergence divergence (12,26): at 66.36 indicating a BUY Read Full on FXOpen Company Blog...

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EUR/USD Eyes Recovery, USD/CHF Could Break Higher EUR/USD started a fresh rise above the 1.1620 resistance zone. USD/CHF is eyeing an upside break above the 0.9260 resistance zone in the near term. Important Takeaways for EUR/USD and USD/CHF The Euro started a fresh recovery wave above the 1.1600 zone against the US Dollar. There is a key bullish trend line forming with support near 1.1605 on the hourly chart of EUR/USD. USD/CHF started a decent increase from the 0.9185 support zone. There is a major bearish trend line forming with resistance near 0.9250 on the hourly chart. EUR/USD Technical Analysis The Euro formed a base above the 1.1530 zone against the US Dollar. As a result, the EUR/USD pair started a fresh increase above the 1.1550 and 1.1560 resistance levels. The pair was able to clear the 1.1600 resistance and the 50 hourly simple moving average. It even spiked above 1.1650 resistance. A high was formed near 1.1669 on FXOpen and the pair is now correcting lower. EUR/USD Hourly Chart There was a break below the 23.6% Fib retracement level of the upward move from the 1.1572 swing low to 1.1669 high. It is now consolidating near the 1.1635 level and above the 50 hourly simple moving average. An immediate support is near the 1.1625 level. It is near the 50% Fib retracement level of the upward move from the 1.1572 swing low to 1.1669 high. The next major support is near the 1.1605 level. There is a key bullish trend line forming with support near 1.1605 on the hourly chart of EUR/USD. A downside break below the 1.1600 support could start another decline. The next major support sits near 1.1550. On the upside, an initial resistance is near the 1.1650 level. The main resistance is near 1.1665. If there is an upside break above the 1.1665 resistance zone, the price could rise steadily towards the 1.1720 resistance zone. Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 19th OCT, 2021 BTCUSD: Bitcoin Rally Towards $65k Confirmed Bitcoin continues to consolidate its gains and has touched a 6-month high of $62,965 in the Asian trading session. Since the price of BTC has already crossed its major resistance levels of $62,232 today, we may see some consolidation in the levels towards sub $62,000 handle in the US trading session. Bitcoin is trading above its both 100 hourly and 200 hourly moving averages. The rally in BTC continues with fresh buying support seen after it touched an intraday low of $61,100 today in the early Asian trading session. Bitcoin is moving in a strong bullish momentum, and a fresh rally is expected to push its prices above the $65,000 handle this week. The medium to long-term outlook for bitcoin remains bullish with immediate targets for today at $63,200. Bitcoin is holding above its major resistance levels of $58,462, indicating more upsides Consolidation in the prices is expected after touching a 6-month high towards $61,400 level The price is now trading above its classic support level of $61,860 All the moving averages are giving a STRONG BUY signal at current market levels of $62,108 Bitcoin Consolidating Its Gains Above $60k BTCUSD is gaining momentum. Its price continues to remain above the important psychological level of $60k. At the moment, the price of BTCUSD is facing a Fibonacci resistance level of $62,531, and Woodies resistance level of $62,798, after which the path towards $63,000 will be cleared. In the last 24hrs, BTCUSD has risen UP by +0.83% / +825$ and has a 24hr trading volume of USD 39.152 billion. Bitcoin Acceptance Increases The global acceptance of bitcoin is growing. The number of BTC transactions continues to increase, which leads to its higher demand on cryptocurrency exchanges. This year, residents of Brazil have bought 4 billion USD worth of crypto, including bitcoin. Brazil is expected to pass a bill to legalize bitcoin as legal tender. Investments in bitcoin are expected to grow as well, with the listing of bitcoin exchange traded funds (ETFs). Some crypto analysts believe that bitcoin ETFs will allow billions of dollars managed by pension funds and other institutional investors to flow into bitcoin. The Week Ahead The price of BTCUSD is holding above $60,000, and after some consolidation, the bullish uptrend movement will start pushing its price above the $63,000 handle. If the prices of BTCUSD continue to remain above the $63,000 mark this week, we may see a fresh rally towards $65,000 in the markets in the opening of the next week. Both the medium- and long-term outlooks remain positive. Next week, we may witness BTC printing at above the $65,000 mark. Technical Indicators: Ultimate oscillator: at 58.88 indicating a BUY Rate of price change (ROC): at 0.653 indicating a BUY Moving averages convergence divergence (12,26): at 228.80 indicating a BUY Relative strength index (14-day): at 55.39 indicating a BUY Read Full on FXOpen Company Blog...

Trading with the help of Meta Trader 4 is very helpful for us and also Profitable at the same time.

To be able to become successful traders we would need to use the Latest Trading Systems.

We should try to make use of such Technical Indicators that will help us in earning the Profits.

I am doing my trading with the FXOpen Markets from the last 10 Years.

We can become more Profitable traders with the help of a Planned Trading System.

We will need to learn trading with the help of the DEMO Trading accounts.

We will need to learn trading with the help of the DEMO Trading accounts.

Those traders who are a Newbie traders will need to start doing their trades with minimal losses.

We will need to look on the ways to minimize the Risks that are actually present in doing our Trading.

Forex trading is a type of business that will need more Efforts from the traders to start earning the Profits.

Those traders who are newbie traders will need to wait till the right time comes for them.

We should start our trading with some Planning and Control.

Bitcoin Trades Back Above $60,000, Eyes New Record Highs Cryptocurrency traders and investors are cheering the recent bitcoin rally. The leading cryptocurrency is trading back above $60,000, coming close to a new all-time high. The most recent data related to the crypto market size explains why bitcoin has attracted so many buyers in the latest months. The global crypto market size keeps growing, with more and more people shifting their gaze to crypto assets. In a single month, from May to June 2021, the crypto market added 18 million new users. Because bitcoin is the most popular coin, it is likely that the new funds injected into the crypto space went to it. Bullish Developments in the Crypto Space Besides the increased popularity in the cryptocurrency space, as suggested by the rising number of crypto users, some other recent bitcoin-related events can be characterized as bullish. One comes from the Security and Exchange Commission (SEC). It is poised to approve the first-ever bitcoin ETF, which would open the space to a much wider investors base. This news alone was largely responsible for bitcoin’s recent rally. An ETF is an exchange-traded fund that tracks the price movements of its underlying – in this case, bitcoin. Investors favor ETFs due to them being a cost-efficient way of trading expensive assets. Another such driver is the Bank of America’s decision to introduce coverage of digital assets as the cryptocurrency market reached $2 trillion in market value. The recent developments triggered enthusiasm among crypto traders, and so the crypto market continues to rise. In the meantime, bitcoin has surpassed Facebook in terms of market value and is on track to take the silver. Bitcoin traded close to $65,000 back in April this year, and it corrected after Elon Musk, the CEO of Tesla, suggested that the digital asset is too expensive. The current upwards movement also helps Tesla, as the company holds more than $1 billion worth of bitcoins on its balance sheet. FXOpen Blog

GBP/USD Eyes More Upsides, USD/CAD Faces Hurdles GBP/USD started a fresh increase from the 1.3400 support zone. USD/CAD is declining, and it is facing resistance near 1.2400. Important Takeaways for GBP/USD and USD/CAD The British Pound found support above 1.3400 and started a fresh increase. There is a key bullish trend line forming with support near 1.3690 on the hourly chart of GBP/USD. USD/CAD started a major decline from well above the 1.2550 zone. There is a major bearish trend line forming with resistance near 1.2395 on the hourly chart. GBP/USD Technical Analysis After a major decline, the British Pound found support above 1.2400 against the US Dollar. GBP/USD traded as low as 1.3410 and recently started an upside correction. The pair broke the 1.3500 resistance to move into a positive zone. There was a break above the 50% Fib retracement level of the downward move from the 1.3907 swing high to 1.3410 low. It is now trading above the 1.3650 level and the 50 hourly simple moving average. GBP/USD Hourly Chart GBP/USD is now consolidating above the 1.3680 level. The pair is also trading above the 61.8% Fib retracement level of the downward move from the 1.3907 swing high (formed on FXOpen) to 1.3410 low. An immediate resistance is near the 1.3770 level. The first major resistance is near the 1.3800 level. If there is an upside break above the 1.3800 zone, the pair could rise towards 1.3900. The next key resistance could be 1.3920, above which the pair could gain strength. On the downside, the first key support is near the 1.3680 area. There is also a key bullish trend line forming with support near 1.3690 on the hourly chart of GBP/USD. If there is a break below 1.3680, the pair could decline extend its decline. The next key support is near the 1.3620 level. Any more losses might call for a test of the 1.3550 support. Read Full on FXOpen Company Blog...

AUD/USD and NZD/USD Target Additional Gains AUD/USD started a fresh increase above the 0.7320 resistance zone. NZD/USD also climbed higher and it might continue to rise towards the 0.7120 level. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a steady increase above the 0.7320 hurdle against the US Dollar. There was a break above a key declining channel with resistance near 0.7350 on the hourly chart of AUD/USD. NZD/USD also gained pace after it broke the 0.6970 resistance. There is a key rising channel forming with support near 0.7040 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar found formed a base above the 0.7280 level and started a fresh increase against the US Dollar. The AUD/USD pair broke the 0.7300 and 0.7320 resistance levels to move into a positive zone. The pair even broke the 0.7350 and 0.7380 resistance levels. There was a break above a key declining channel with resistance near 0.7350 on the hourly chart of AUD/USD. The pair even cleared the 0.7400 level and the 50 hourly simple moving average. A high was formed near 0.7424 on FXOpen and the pair is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent wave from the 0.7323 swing low to 0.7424 high. An initial support on the downside is near the 0.7400 level. The next major support is near the 0.7370 level. It is close to the 50% Fib retracement level of the recent wave from the 0.7323 swing low to 0.7424 high. If there is a downside break below the 0.7370 support, the pair could extend its decline towards the 0.7330 level and the 50 hourly simple moving average. An immediate resistance is near the 0.7425 level. The next major resistance is near the 0.7440 level. A close above the 0.7440 level could start a steady increase in the near term. The next major resistance could be 0.7500. Read Full on FXOpen Company Blog...