FXOpen Trader

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We will need to start updating our current knowledge of the Forex trading business.

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 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.

We can start making money from the Digital Technology Systems.

Forex trading will need a careful plan for doing our trades in the markets.

We will need to start making sue of a Technical Indicator that is more Reliable.

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.

Forex trading will need more serious planning from our side for the best trading results.

If we will start using the correct types of trading systems then the income we are going to get will also get increased.

We should start using the Demo Trading accounts for gaining the Profits.

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

Gold Regains $1,800 On Inflation Fears. What’s Next? Gold has spent the year consolidating. But, curiously enough for market participants, all this time, inflation has been on the rise in the advanced economies all this time. Most recently, inflation reached levels not seen in decades, running hot in the United States and Europe, two regions where central banks have a hard time generating inflation according to their price stability mandate. But despite the ongoing rise in the prices of goods and services, gold, a traditional hedge against inflation, is powerless. Just the opposite, one may say: it has traded with a bearish tone all year. However, it found important support in the $1,680 area where buyers stepped in. Last month, gold gained +1.5%, but still ended October down by a little over -6%. Gold equities rallied last month, up by more than +7%, and yet, for the year, they are down close to -12%. One explanation for gold-related equities and gold’s poor performance is the US dollar index. By the end of October, the dollar index was up by +4.65% on the year, putting pressure on the price of gold. This is another oddity because the dollar gained while inflation rose, and typically things work the other way around. What will the rest of the trading year bring for gold? Technical Picture Remains Bullish From a technical analysis perspective, the price of gold remains bullish. Two pivotal areas should be mentioned here. On the one hand, in 2021, the price found strong support at the $1,680 level and has since bounced three times from. On the other hand, the $1,960 is a pivotal area on any move higher. While in between, the price of gold continues to consolidate. However, judging by the triangular consolidation that just ended, the recent move higher above the upper edge of the triangle indicates more strength ahead. On a daily close above $1,850, traders will push for another run to $1,900. One thing is clear. If inflation does not cool down in the months ahead, gold will have a hard time remaining at the current level. As such, traders should focus on the bigger picture and adjust their positions accordingly. FXOpen Blog

GBP/USD and GBP/JPY Could Struggle To Recover GBP/USD declined heavily below the 1.3600 and 1.3550 support levels. GBP/JPY also declined below 154.00 and is currently struggling to recover. Important Takeaways for GBP/USD and GBP/JPY The British Pound started a major decline below the 1.3600 support against the US Dollar. There is a major bearish trend line forming with resistance near 1.3625 on the hourly chart of GBP/USD. GBP/JPY declined heavily below the 154.60 and 154.00 support levels. There is a key declining channel forming with resistance near 153.20 on the hourly chart. GBP/USD Technical Analysis This past week, the British Pound started a major decline from well above 1.3650 against the US Dollar. The GBP/USD pair broke the 1.3620 and 1.3600 support levels. The pair even settled below the 1.3550 level and the 50 hourly simple moving average. Finally, there was a spike below the 1.3500 support zone. It traded as low as 1.3423 on FXOpen and is currently consolidating losses. GBP/USD Hourly Chart The pair is now facing resistance near 1.3485. It is near the 23.6% Fib retracement level of the recent decline from the 1.3697 swing high to 1.3423 low. The first key resistance is near the 1.3500 zone. The next major resistance is near the 1.3550 level. It is near the 50% Fib retracement level of the recent decline from the 1.3697 swing high to 1.3423 low. There is also a major bearish trend line forming with resistance near 1.3625 on the hourly chart of GBP/USD. A close above the 1.3625 level could open the doors for more gains. The next major hurdle is near 1.3660 and the 50 hourly SMA, above which the pair could surge towards 1.3700. On the downside, an immediate support is near the 1.3450 level. The next major support is near the 1.3425 level. If there is a break below the 1.3425 support, the pair could test the 1.3400 support. If there are additional losses, the pair could decline towards the 1.3350 level. Read Full on FXOpen Company Blog...

Dear FTC participants and followers! We are always thrilled to observe our contestants using different trading approaches, depending on how the market situation changes. The most recent example is the accounts of one of our leaders, Prieur Du Plessis. On November 2, Prieur Du Plessis removed the account with strategy #1 from the championship and registered a new one with strategy #4. We hope that the new strategy will bring the desired results to the contestant! Regards, FTC2021 team

AUD/USD and NZD/USD At Risk of More Downsides AUD/USD started a fresh decline from well above the 0.7500 zone. NZD/USD accelerated lower and it is now consolidating near the 0.7080 zone. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh decline from well above 0.7500 against the US Dollar. There is a key bearish trend line forming with resistance near 0.7470 on the hourly chart of AUD/USD. NZD/USD also declined after it failed to clear the 0.7200 resistance. There is a major bearish trend line forming with resistance near 0.7160 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar failed to stay above 0.7500 and started a major decline against the US Dollar. The AUD/USD pair broke the 0.7450 and 0.7420 support levels to move into a bearish zone. The pair even broke the 0.7400 support level and the 50 hourly simple moving average. The pair traded as low as 0.7378 on FXOpen and it is now consolidating losses. An immediate resistance is near the 0.7400 level. AUD/USD Hourly Chart It is near the 23.6% Fib retracement level of the downward move from the 0.7470 swing high to 0.7378 low. The next major resistance is near the 0.7420 level. The 50% Fib retracement level of the downward move from the 0.7470 swing high to 0.7378 low is also near the 0.7420 level. A close above the 0.7420 level could start a steady increase in the near term. The next major resistance could be 0.7450. An initial support on the downside is near the 0.7380 level. The next major support is near the 0.7350 level. If there is a downside break below the 0.7350 support, the pair could extend its decline towards the 0.7320 level. The next major support is near 0.7300, below which the pair could accelerate lower in the near term. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD Technical Analysis – 04th NOV, 2021 ETHUSD: Bearish Engulfing Pattern Below $4,600 Ethereum has started bearish correction today in the Asian trading session, and the prices continue to break down below the $4,550 level with more downsides. We can see a bearish engulfing pattern below the $4,600 handle which signifies a bearing short-term trend reversal. ETHUSD touched an intraday high of $4,661 yesterday in the US trading session after which the prices saw a downward correction of more than 4%, touching an intraday low of $4,509 today in the European trading session. ETH is now trading below its classic support level of $4,544 and Camarilla support level of $4,564. ETH is gaining a bearish downtrend today and is about to break its classic resistance level of $4,057. Ether is following a bearish path below $4,600 against the US dollar. No recovery seen today as the upsides remain limited and more selling pressure is seen below the $4,550 level. The bearish correction is expected to continue, and the prices can break the important support levels of $42,00 in the coming days. All the major technical indicators are giving a STRONG SELL signal. ETH is now trading just above its 100 hourly simple and exponential moving averages. Ethereum extends its losses below $4,600 with more downsides Short-term range appears to be bearish for ETHUSD Average true range indicates less market volatility Relative strength index is NEUTRAL Ether Could Extend Losses Below $4,400 ETHUSD made an unsuccessful attempt towards the $4,700 level, after which ETH started its decline below $4,550. The selling pressure has increased today in the ETHUSD, and the next support levels of $4,400 and $4,350 will be tested in the coming week. We will need to wait for the prices to enter into a consolidation phase after which the trend reversal is possible in the short-term range. We can see a bearish trend line formation which is expected to touch sub-$4,300 level this week. The relative strength index is at 45, indicating a NEUTRAL market, and we could see a range bound movement in the prices of ETHUSD in the US trading session today. ETH lost 1.80% with a price change of +$74.12 in the past 24hrs, and has a trading volume of 20.477 billion USD. The Week Ahead Ethereum price has been moving in a downtrend since yesterday, and a short-term trend reversal is seen which is pushing the prices of ETHUSD down. ETHUSD may continue to extend its losses or enter into a consolidation phase at any time. StochRSI is OVERSOLD which indicates that markets are going to enter into a consolidation phase soon. We would need to wait before entering the markets at these levels in the short-term range. The price of ETHUSD has already broken its pivot level of 4,559 and is now about to break its Woodie’s support level of 4,510. Technical Indicators: StochRSI (9,6): at 26.63 indicating a BUY Average directional change (14-day): at 27.75 indicating a NEUTRAL level Ultimate oscillator: at 40.03 indicating a BUY Commodity channel index (14-day): at -101.59 indicating an OVERBOUGHT level Read Full on FXOpen Company Blog...

Dear FTC participants and followers! We have recently sent a newsletter about the trading results of one of the championship participants, Andrei Civga, and received a lot of questions related to the gain score of this trader. We would like to highlight that Andrei’s contest account is a public PAMM account and is available to explore via this link. Here you can see the account leverage and exposure level both daily and intraday. Please be advised that this account was registered on September 7th in the Championship. Once again, thank you for your interest. We are available to answer any additional questions you may have. Regards, FTC2021 team

EUR/USD Faces Hurdle, USD/JPY Remains At Risk EUR/USD started a fresh decline from well above 1.1650. USD/JPY is facing resistance near 114.00 and it might start a fresh decline in the near term. Important Takeaways for EUR/USD and USD/JPY The Euro started a major decline below the 1.1650 and 1.1620 support levels. There was a break below a key bullish trend line with support near 1.1590 on the hourly chart of EUR/USD. USD/JPY is facing a major resistance near the 114.00 and 114.20 levels. There was a break below a key bullish trend line with support near 113.95 on the hourly chart. EUR/USD Technical Analysis This past week, the Euro started a major decline from the 1.1690 zone against the US Dollar. The EUR/USD pair traded below the 1.1650 support to move into a bearish zone. The pair even broke the 1.1620 level and settled below the 50 hourly simple moving average. A low is formed EUR/USD Hourly Chart There was a break above the 23.6% Fib retracement level of the recent decline from the 1.1691 swing high to 1.1535 low. It is now facing resistance near the 1.1600 level. The pair failed to clear the 1.1600 resistance and the 50 hourly SMA. There was also a failure near the 50% Fib retracement level of the recent decline from the 1.1691 swing high to 1.1535 low. As a result, the pair started a fresh decline below 1.1580. There was a break below a key bullish trend line with support near 1.1590 on the hourly chart of EUR/USD. An immediate support is near the 1.1575. The next major support is near 1.1550, below which the pair could drop towards the 1.1525 support in the near term. Any more losses may perhaps push the pair towards 1.1500. An immediate resistance is near the 1.1595 level. The next major resistance is near the 1.1600 level. A clear break above the 1.1600 zone could open the doors Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 02nd NOV, 2021 BTCUSD: Bullish Ascending Channel Above $60,000 Bitcoin continues to trade steadily above $60,000 in the European trading session today. Yesterday, we saw the price of BTCUSD plummet below $60,000 but soon with renewed buying pressure it touched an intraday high of $62,443. The price of bitcoin is now in the consolidation phase after recovering from its losses last week which saw the prices touching a low of $58,212. This short-term bearish correction is a stepping stone towards its next leg of bull run towards $65,000. Bitcoin is now moving above its both 100 hourly simple and exponential moving averages. Relative strength index appears to be neutral signifying sideways movements for the time being. Medium to long term outlook remains bullish for BTCUSD with targets of $70,000 before the end of this month. Bitcoin is slowly pulling back from the selloff that was seen last week, and is in the process of creating a bullish ascending channel this week. Bitcoin recovered from its losses last week and is now trading above its pivot level of $61,632 Williams percent range is indicating OVERBOUGHT level The price is now trading above its classic support level of $61,200 All the moving averages are giving a STRONG BUY signal at the current market level of $61,563 Bitcoin: Recovery From Weekend Losses, March Towards $61,500 BTCUSD has gone down by 8% from its all-time high price of $66,987, and we saw that this price action was achieved after sub-bearish moves below $60,000. This is an indication of a fresh upwards move in bitcoin which can break its all-time high level soon. The price of BTCUSD is now facing its Camarilla resistance level of $61,569 and Fibonacci resistance level of $61,891, after which the path towards $63,000 will get cleared. In the last 24hrs BTCUSD has gone DOWN by -0.26% with the price change of +104$, and has a 24hr trading volume of USD 34.007 billion. Bitcoin Volatility Index The volatility index of bitcoin shows the constant range of 85 to 95 in the preceding 3 months. This also has a significance since the value of holdings in bitcoin for the investors needs to remain stable. With the introduction of the bitcoin ETFs, we should expect stable price movement, continued appreciation in the form of attracting more cash investments, and increased total market capitalization. At present, the TMC of bitcoin is at $1,160 billion USD. The Week Ahead The price of BTCUSD is holding above the important psychological level of $60,000 and a positive momentum is seen in the short term range. It is crucial for the price to hold above the $60,000 handle for the next bitcoin rally towards $63,000. This week, BTCUSD is expected to cross $64,000, and aim for upsides of $66,000 to $68,500 the next week. Both the medium term and long term outlooks remain positive. Next week, we could witness BTC printing above the $65,000 mark. Technical Indicators: Bull/Bear power (13-day): at 183.82 indicating a BUY Commodity channel index (14-day): at 96.86 indicating a BUY Moving averages convergence divergence (12,26): at 140.50 indicating a BUY Ultimate oscillator: at 56.51 indicating a BUY Read Full on FXOpen Company Blog...

GBP/USD and EUR/GBP Trade Near Key Support GBP/USD started a fresh decline and tested the 1.3680 support. EUR/GBP is rising, but it must stay above the 0.8440 support zone to continue higher. Important Takeaways for GBP/USD and EUR/GBP The British Pound failed to gain pace above the 1.3800 and 1.3830 resistance levels. There was a break below a major contracting triangle with support near 1.3760 on the hourly chart of GBP/USD. EUR/GBP corrected lower from the 0.8475 resistance zone and declined below 0.8460. There is a major bullish trend line forming with support 0.8440 on the hourly chart. GBP/USD Technical Analysis The British Pound attempted a key upside break above 1.3820 against the US Dollar. The GBP/USD pair failed to gain momentum and started a fresh decline below 1.3750. The pair broke the 1.3720 support zone and the 50 hourly simple moving average. There was also a break below a major contracting triangle with support near 1.3760 on the hourly chart of GBP/USD. GBP/USD Hourly Chart The pair spiked below 1.3700 and traded as low as 1.3665. It is now consolidating losses above the 1.3665 level. On the upside, the pair is facing resistance near 1.3700. It is near the 23.6% Fib retracement level of the downward move from the 1.3814 swing high to 1.3665 low. If there is an upside break above the 1.3700 resistance, the price could surpass 1.3720. The next main resistance is near the 1.3740 zone. It is close to the 50% Fib retracement level of the downward move from the 1.3814 swing high to 1.3665 low. Any more gains could send the pair towards the 1.3800 level in the near term. An immediate support is near the 1.3665 level. A downside break below the 1.3665 support might even push the pair below the 1.3650 support zone. The next major support is near the 1.3600 level. Any more downsides might call for a move towards the 1.3550 level. Read Full on FXOpen Company Blog...

AUD/USD and NZD/USD Aim More Upsides AUD/USD started a fresh increase above the 0.7500 resistance zone. NZD/USD also climbed higher and it might aim more upsides towards 0.7250. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a steady increase above the 0.7480 hurdle against the US Dollar. There is a key bullish trend line forming with support near 0.7520 on the hourly chart of AUD/USD. NZD/USD also gained pace after it broke the 0.7150 resistance. There was a break above a major bearish trend line with resistance near 0.7175 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar found formed a base above the 0.7450 level and started a fresh increase against the US Dollar. The AUD/USD pair broke the 0.7480 and 0.7500 resistance levels to move into a positive zone. The pair even broke the 0.7520 and 0.7540 resistance levels. It settled above the 0.7500 level and the 50 hourly simple moving average. A high was formed near 0.7554 on FXOpen and the pair is now consolidating gains. AUD/USD Hourly Chart It traded below the 23.6% Fib retracement level of the recent wave from the 0.7479 swing low to 0.7554 high. An initial support on the downside is near the 0.7525 level. The next major support is near the 0.7515 level. It is close to the 50% Fib retracement level of the recent wave from the 0.7479 swing low to 0.7554 high. There is also a key bullish trend line forming with support near 0.7520 on the hourly chart of AUD/USD. If there is a downside break below the 0.7515 support, the pair could extend its decline towards the 0.7480 level. An immediate resistance is near the 0.7550 level. The next major resistance is near the 0.7580 level. A close above the 0.7580 level could start a steady increase in the near term. The next major resistance could be 0.7650. Read Full on FXOpen Company Blog...