FXOpen Trader

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...

ETHUSD and LTCUSD Technical Analysis – 14th OCT, 2021 ETHUSD: Bullish Momentum Towards $4000 Ethereum has broken out of an important psychological resistance level of $3500 and is now moving in a strong bullish momentum towards the $4000 handle. ETHUSD touched an intraday high of $3662 in the European trading session today. ETH is now trading above its pivot levels of $3628 and Camarilla resistance levels of $3633, with the price surging continuously and getting ready to break its classic resistance levels of $3654. Ether is expected to maintain the bullish tone this week and continue towards the $4000 mark as the bulls take over. All the technical indicators are giving a BUY signal. ETH is now moving above both the 100 hourly simple and exponential moving averages. Before touching the $4000 handle, a contraction in prices is expected this week. Ethereum is consolidating its gains with a firm bullish tone Short term to medium term outlook remains bullish for ETHUSD All the moving averages are giving a STRONG BUY signal The pair is expected to touch $3800 in the US trading session today Ether Consolidating Its Gains ETHUSD is forming an uptrend continuation pattern which signifies that a breakout could occur at any time, pushing the prices above the $4000 handle. At the start of the Asian trading session, volatility was low, but then the demand increased leading to the surge in the price. ETH has gained 5.62% with a price change of +$193.78 in the past 24hrs and has a trading volume of 16.861 billion USD. Ethereum For Investors Ethereum is gaining more acceptance as an investment option for long-term appreciation, leading to higher demand. The upside potential for Ethereum is higher than bitcoin in terms of percentage gains, the reason why many bitcoin investors are now turning to Ethereum. ETHUSD was priced at $586 during the same period in October 2020, and with the current market prices of $3644, a gain of 621% is observed. Some crypto analysts have cited Ethereum as a better investment alternative to gold. The Week Ahead Ethereum buying pressure is increasing today. The prices could reach the $4000 mark this week. There is no visible contraction in the prices of Ether today, but in the coming days, we could see some short-term bearish corrections towards the $3500 level. Ethereum midterm range is positive and any dips will remain as an attractive buying opportunity for long term traders. This week, ETH is expected to close above $3900 level. The trend will most likely continue in the opening of next week. Technical Indicators: Relative strength index (14-day): at 66.41 indicating a BUY Commodity channel index (14-day): at 70.69 indicating a BUY Rate of price change: at 3.581 indicating a BUY Moving averages convergence divergence (12,26): at 38.79 indicating a BUY Read Full on FXOpen Company Blog...

EUR/USD Continues To Struggle, USD/JPY Gains Momentum EUR/USD extended its decline and traded close to 1.1520. USD/JPY is rising and it might continue to climb above the 114.00 level. Important Takeaways for EUR/USD and USD/JPY The Euro started a major decline below the 1.1650 and 1.1600 support levels. There is a major bearish trend line forming with resistance near 1.1575 on the hourly chart of EUR/USD. USD/JPY started a fresh increase and it cleared the 112.00 resistance zone. There is a key bullish trend line forming with support near 112.65 on the hourly chart. EUR/USD Technical Analysis This past week, the Euro started another decline below the 1.1650 support against the US Dollar. The EUR/USD pair traded below the 1.1600 support to move into a bearish zone. The pair even broke the 1.1580 level and settled below the 50 hourly simple moving average. A low is formed near 1.1524 on FXOpen and the pair is now consolidating losses. An immediate resistance is near the 1.1560 level. EUR/USD Hourly Chart There is also a major bearish trend line forming with resistance near 1.1575 on the hourly chart of EUR/USD. The next major resistance is near the 1.1615 level. The 23.6% Fib retracement level of the key decline from the 1.1899 swing high to 1.1524 low is also near the 1.1615 level. The first key resistance is near the 1.1670 level. The main resistance is near the 1.1720 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the key decline from the 1.1899 swing high to 1.1524 low. A clear break above the 1.1720 zone could open the doors for a larger increase. If there is no break above 1.1615, the pair might continue to move down. An immediate support is near the 1.1540. The next major support is near 1.1500, below which the pair could drop towards the 1.1450 support in the near term. Read Full on FXOpen Company Blog...

We can increase our Trading based Income with some Technical Skills.

We will need to reduce the amount of Greed in doing our Forex trading business.

We will need to use such trading plan that is Easy to understand for us.

We can get success from this business and become Better Traders with the help of a Reliable Plan.

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 learning about the Forex markets with the help of a Balanced Trading Plan.

We will need to use such kind of a Trading System that is more easy for us t o understand and use.

I am doing my trades in the Forex markets with the MT4 from 10 Years

We can get more income from the Forex markets with the help of a Trading Plan.

We should start making more Efforts so that we are able to get the Required Profits.