FXOpen Trader

GBP/USD Remains At Risk, USD/CAD Gains Momentum GBP/USD started a fresh decline below the 1.3850 support. USD/CAD rallied and it was able to clear the 1.2750 resistance zone. Important Takeaways for GBP/USD and USD/CAD The British Pound started a major decline below the 1.3850 and 1.3800 support levels. There is a key bearish trend line forming with resistance near 1.3770 on the hourly chart of GBP/USD. USD/CAD started a major increase after it cleared the 1.2700 and 1.2720 levels. There was a break above a contracting triangle with resistance near 1.2680 on the hourly chart. GBP/USD Technical Analysis After struggling to clear the 1.3900 resistance, the British Pound started a major decline against the US Dollar. The GBP/USD pair broke the 1.3850 support level to move into a bearish zone. The bears gained strength and were able to push the pair below the 1.3800 support. The pair even broke the 1.3750 support zone and the 50 hourly simple moving average. Finally, it spiked below 1.3720 and traded as low as 1.3701 on FXOpen. GBP/USD Hourly Chart It is now consolidating losses near the 1.3700 zone. An immediate resistance is near the 1.3725 level. It is near the 23.6% Fib retracement level of the recent drop from the 1.3812 high to 1.3701 low. The first major resistance is near the 1.3755 level. It is close to the 50% Fib retracement level of the recent drop from the 1.3812 high to 1.3701 low. There is also a key bearish trend line forming with resistance near 1.3770 on the hourly chart of GBP/USD. If there is an upside break above the trend line, the pair could recover above 1.3780. The next key resistance could be 1.3800 and the 50 hourly simple moving average, above which the pair could gain strength. On the downside, the first key support is near the 1.3700 area. If there is a break below 1.3700, the pair could decline extend its decline. The next key support is near the 1.3640 level. Any more losses might call for a test of the 1.3600 support. Read Full on FXOpen Company Blog...

Gold Price Nosedives While Crude Oil Price Extends Rally Gold price started a major decline and traded below the $1,785 support. Crude oil price is rising and it is broke the $72.00 resistance zone. Important Takeaways for Gold and Oil Gold price started a major decline from the $1,800 resistance zone against the US Dollar. There was a break below a short-term bullish trend line with support near $1,793 on the hourly chart of gold. Crude oil price started a fresh increase from the $70.00 support zone. There is a major bullish trend line forming with support near $72.00 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price failed to stay above the $1,800 support zone against the US Dollar. As a result, the price started a fresh decline below the $1,800 and $1,790 levels. The price gained pace after it broke the $1,785 support and the 50 hourly simple moving average. There was also a break below a short-term bullish trend line with support near $1,793 on the hourly chart of gold. Gold Price Hourly Chart The price declined below the $1,750 level and traded as low as $1,745 on FXOpen. It is now correcting higher and trading above $1,750. An immediate resistance is near the $1,760 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,808 high to $1,745 swing low. The first major resistance is near the $1,775 level. The main resistance is near the $1,785 level and the 50 hourly simple moving average. A close above the $1,785 levels could open the doors for a steady increase towards $1,800. The next major resistance sits near the $1,810 level. Conversely, the price might resume its decline below the $1,750 level. The first major support is near the $1,745 level. A downside break below the $1,745 support zone may possibly spark a sharp decline. In the stated case, the price could test the $1,720 support. Read Full on FXOpen Company Blog...

Forex VPS Available to all FXOpen ECN, STP and CRYPTO account holders! Who can apply for FXOpen free Forex VPS? You can use FXOpen Forex VPS for free during 1 month if you: maintain equity of USD 5000 in your accounts at the end of the month; or have traded volumes of USD 10,000,000 (per calendar month). If these requirements are not met then a fee of USD 30 may be deducted from your eWallet or trading accounts. Advantages of FXOpen Forex VPS Accessibility: log into your MT4 platform from any computer anywhere in the world.Flexibility: expert Advisors continue running even when computer is switched off or the power/internet is off.Speed: cross-connected to FXOpen servers. FXOpen Company News

EUR/USD and EUR/JPY: Euro Remains At Risk EUR/USD started another decline below 1.1820. EUR/JPY is also declining and it broke the 129.80 support zone. Important Takeaways for EUR/USD and EUR/JPY The Euro failed to clear the 1.1880 resistance and started a fresh decline. There is a key bearish trend line forming with resistance near 1.1820 on the hourly chart. EUR/JPY also started a fresh decline from well above the 130.00 level. There was a break below a declining channel with support near 129.50 on the hourly chart. EUR/USD Technical Analysis The Euro started a major decline after it struggled to clear the 1.1880 resistance against the US Dollar. The EUR/USD pair broke the 1.1820 support zone to move into a bearish zone. The pair even traded below the 1.1800 support and settled below the 50 hourly simple moving average. A low was formed near 1.1769 on FXOpen and the pair is now correcting losses. There was a break above the 1.1800 level. The pair even spiked above the 1.1820 resistance level and a key bearish trend line with current resistance near 1.1820 on the hourly chart. However, the bulls failed to remain in action above 1.1835. A high was formed near 1.1845 and the pair declined once again. It traded below the 50% Fib retracement level of the upward move from the 1.1769 swing low to 1.1845 high. It is now consolidating near the 1.1800 level and the 50 hourly simple moving average. An immediate resistance is near the 1.1820 level. The main resistance is still forming near the 1.1840 and 1.1850 levels. A clear break above the 1.1850 resistance could push EUR/USD towards 1.1900. On the downside, the 1.1800 level is a major support. Any more losses might lead EUR/USD towards the 1.1750 support zone in the near term. The next major support sits near the 1.1720 level. Read Full on FXOpen Company Blog...

ForexCup Trading Championship 2021 Participant interview: Emirhan Gören We continue to introduce you to the ForexClub Trading Championship 2021 contestants. This time we are proud to present Emirhan Gören from Turkey, one of the most high-performance traders of the Championship, who demonstrated gains of more than 230%. In a quick round of questions, we asked Emirhan how he achieves such impressive results and what it means for him to be a full-time trader. Join the ForexCup Trading Championship 2021. Read Full on ForexCup ...

Dax Index Adds 10 New Companies Ahead of the German Federal Elections September 2021 will remain in history as the month when the German Dax index undergoes the biggest reform in its existence. Starting with September 20th, ten new companies will be added to the Dax index, and so the number of its constituents increases from 30 to 40. One of the reasons cited for the change in the Dax is the need to add new companies that reflect the new economy. Truth be said, the Dax had underperformed its peers for some time now. For example, the S&P 500 index outperformed the German Dax index, and so did other indices in the United States. The ten companies to be added to the Dax index are “promoted” from the MDAX. MDAX is an index tracking middle-sized businesses in Germany, and by adding the new companies, the number of constituents in the Dax increases, while the one in the MDAX decreases. Puma, Zalando, or Airbus, are some of the names known by the general public that will be added to the Dax. Some other ones, not so popular, are equally important – Symrise, Sartorius, Qiagen. Will the changes make the Dax index more attractive to investors? It remains to be seen. Euro Traders Prepare for the German Federal Elections The federal elections in the United States are scheduled on September 26th, and the market participants are aware that this is the main event in the Euro area for the rest of the year. The importance of it cannot be understated – Angela Merkel, the German Chancellor, will not be candidate, as she ends a long-lasting political career. With only two weeks until the elections, the SPD, or the socialists, are rising in polls. Olaf Scholz, their leader, is now viewed as the one with the biggest chances to win the German Chancellor position. If the socialists do win, it will mark a change in the German leadership, and the markets embrace for changes in the fiscal space too. All in all, an interesting September lies ahead for traders monitoring events in Germany. Because the German economy is the largest in the Eurozone, what happens in Germany will affect the common currency, the euro. FXOpen Blog

FXOpen’s TOP-10 August 2021 PAMM Accounts The world is still struggling to prevent the spread of COVID-19 and mitigate the repercussions of economic activity deterioration. Currency pairs and other trading instruments have become highly volatile. Investors are wary of drastic moves and are choosing the masters who are most likely to adequately assess September’s trading situation, turn it around in their favor, and make good money thanks to fluctuating rates of various currency instruments. In this PAMM review, FXOpen presents for your consideration yet another list of the most promising and profitable investment accounts. As of September 2021, FXOpen has 150 active PAMM-accounts, with $2'925’824 of subscriber funds invested. And if you would like to try your hand at managing a PAMM-account, we are glad to remind you that FXOpen is hosting its Money Managers contest! Registration closes on October 3, 2021. Test your managing skills and win a monetary prize out of the $10,000 prize fund! And now, on to the top 10 PAMM accounts that demonstrated the most promising results in August 2021. Read Full on FXOpen Company Blog...

Changes In Trading Hours During Mid-Autumn Festival In Hong Kong Dear Traders, Due to the forthcoming Mid-Autumn Festival public holiday in Hong Kong, trading hours for the Hang Seng Index will be changed on September 21, 22, and 23. Please see the schedule below and consider this information as you plan your trading (all times given are GMT/UTC+3). Hong Kong 50 (#HSI): Tue 21 Sep: trading session opens at 01:00; closes at 22:00;Wed 22 Sep: trading closed;Thu 23 Sept: trading session opens at 04:15. Other indices will be traded as usual. Feel free to reach out to us if you have any questions via this email: support@fxopen.com FXOpen Company News

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GBP/USD Eyes More Upsides While GBP/JPY Remains At Risk GBP/USD started a fresh increase above the 1.3800 resistance. GBP/JPY seems to be facing a major resistance near the 152.20 and 152.30 levels. Important Takeaways for GBP/USD and GBP/JPY The British Pound traded as low as 1.3727 before it started a fresh increase against the US Dollar. There was a break above a major bearish trend line with resistance near 1.3800 on the hourly chart of GBP/USD. GBP/JPY topped near 152.65 and started a downside correction. There is a short-term bullish trend line forming with support near 152.00 on the hourly chart. GBP/USD Technical Analysis This past week, the British Pound saw a drop below the 1.3820 level against the US Dollar. The GBP/USD pair even broke the 1.3800 and 1.3750 support levels. It traded as low as 1.3727 on FXOpen before it started a fresh increase. There was a steady increase above the 1.3750 resistance level. The price surpassed the 1.3800 resistance level and the 50 hourly simple moving average. GBP/USD Hourly Chart There was also a break above a major bearish trend line with resistance near 1.3800 on the hourly chart of GBP/USD. The pair even climbed above 1.3850 and retested the 1.3880 resistance. A high is formed near 1.3888 and the pair is now correcting gains. It traded below the 23.6% Fib retracement level of the recent wave from the 1.3727 low to 1.3887 high. An immediate support is near the 1.3825 level and the 50 hourly simple moving average. The next major support is near the 1.3810 level. The 50% Fib retracement level of the recent wave from the 1.3727 low to 1.3887 high is also near 1.3807. If there is a break below the 1.3800 support, the pair could test the 1.3278 support. If there are additional losses, the pair could decline towards the 1.3720 level. On the upside, the pair is facing a major resistance near the 1.3880 and 1.3900 levels. A clear break above the 1.3900 resistance could increase the chances of a move towards the 1.4000 resistance. Read Full on FXOpen Company Blog...

AUD/USD and NZD/USD Could Start Fresh Increase AUD/USD is forming a base above 0.7345 and it could start a fresh increase. NZD/USD might also start a steady increase above the 0.7135 resistance zone. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar is forming a decent support base near the 0.7350 zone against the US Dollar. There was a break above a key bearish trend line with resistance near 0.7375 on the hourly chart of AUD/USD. NZD/USD is also forming a base above the 0.7075 pivot level. There was a break above a major bearish trend line with resistance near 0.7100 on the hourly chart of NZD/USD. AUD/USD Technical Analysis After struggling to clear the 0.7470 resistance, the Aussie Dollar started a downside correction against the US Dollar. The AUD/USD pair broke the 0.7400 and 0.7375 support levels to move into a short-term bearish zone. The pair even broke the 0.7360 support and the 50 hourly simple moving average. A low was formed near 0.7345 on FXOpen before the pair started a recovery wave. There was a break above the 0.7375 zone and the 50 hourly simple moving average. There was also a break above a key bearish trend line with resistance near 0.7375 on the hourly chart of AUD/USD. The pair cleared the 23.6% Fib retracement level of the recent decline from the 0.7468 swing high to 0.7345 low. An immediate resistance is near the 0.7390 level. The next major resistance is near the 0.7400 level. It is close to the 50% Fib retracement level of the recent decline from the 0.7468 swing high to 0.7345 low. A close above the 0.7400 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 0.7370 level. The next major support is near the 0.7345 level. If there is a downside break below the 0.7345 support, the pair could extend its decline towards the 0.7300 level. Read Full on FXOpen Company Blog...