FXOpen Trader

Those traders who are New in the market will need to make use of the Lower Trading Leverages.

We will need to understand the Efficacy of any Trading Signals and then only use them in our trades.

We need to make use of Forex Broker that is True ECN

We need to select a Forex Broker that is both International and True ECN like FXOpen

If we are looking to make Quick Profits from our trades then we will need to make use of the Correct Timings.

If we want to learn trading in the Forex Markets it can be done with the help of the DEMO Trading accounts by us.

If we will start making the efforts to increase our Skills and Knowledge then we will become Better Traders.

I am doing my trading with the International and Reputed Forex Broker FXOpen Markets

If we are willing to start doing the Hard Work then we can get more SUCCESS in this business.

To be able to become a successful trader in the business we will need to do More Efforts.

We will need to look and also Monitor the markets so that we are able to better understand the Market Trends.

I am doing my Forex Trading with the help of the International and Reputed Broker FXOpen Markets

Foreign exchange market is a challenging level f rewarding market opportunity and we need to start doing hard work in the business.

When we will start doing our trading in the foreign exchange market we will have to understand that trading will take our time and efforts.

I have been doing my trading in the Forex Markets from the Year 2010 with the International Broker FXOpen Markets

We will need to make use of the demo trading account so that we can learn trading in the foreign exchange market without any loss

We must select a lower amount of trading leverage because we will need to minimize the total amount of risk in our trading account

To be able to make income from the foreign exchange market we need to do hard work and also Choose reliable foreign exchange broker.

Overview of FXOpen’s Best-performing July 2021 PAMM Accounts Summer has entered its final days, but that doesn’t prevent PAMM managers from trading and delighting their investors with fresh positive results. FXOpen presents yet another forecast based on the results of trading on our platform, focusing on the most reliable and profitable accounts. As of August 1, 2021, FXOpen has 154 active accounts, with $2’902’057.00 of subscriber funds invested, according to Investflow statistics. Another important update: FXOpen is holding a Money Managers contest for PAMM masters! You have until August 16, 2020, to register, 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 July 2021. Read Full on FXOpen Company Blog...

EUR/USD Could Recover, USD/JPY Gains Momentum EUR/USD started a major decline and it traded below 1.1750. USD/JPY is rising and it even broke the 110.50 resistance zone. Important Takeaways for EUR/USD and USD/JPY The Euro started a major decline below the 1.1800 and 1.1780 levels. There is a key bearish trend line forming with resistance near 1.1725 on the hourly chart of EUR/USD. USD/JPY started a fresh increase above the main 110.00 resistance zone. There is a major bullish trend line forming with support near 110.50 on the hourly chart. EUR/USD Technical Analysis After a failed attempt to clear 1.1850, the Euro started a major decline against the US Dollar. The EUR/USD pair broke the 1.1800 support zone to move into a bearish zone. The pair settled below the 1.1800 level and the 50 hourly simple moving average. It even broke the 1.1750 support level and traded as low as 1.1709 on FXOpen. It is now consolidating gains above the 1.1700 support zone. An immediate resistance is near the 1.1725 level. There is also a key bearish trend line forming with resistance near 1.1725 on the hourly chart of EUR/USD. The first key resistance is near the 1.1750 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.1895 swing high to 1.1709 low. Any more gains could start a decent increase towards the 1.1800 resistance. The 50% Fib retracement level of the recent decline from the 1.1895 swing high to 1.1709 low is also near the 1.1800 level. A close above 1.1800 could open the doors for a steady increase towards 1.1850. If not, the pair might continue to move down below 1.1710. An intermediate support is near the 1.1700 level. The next major support is near the 1.1680 level, below which the pair could drop towards the 1.1640 support in the near term. Read Full on FXOpen Company Blog...

Solid Jobs Report Sends the US Dollar Higher The US dollar reversed the recent losses and closed the last week higher. Responsible for the move was the July NFP report. The market expected a positive report, but the outcome exceeded expectations. The US economy added over 940k new jobs in July. Moreover, the data for the previous month was revised higher by over 100k jobs. All the elements in the report pointed to a strong recovery of the US economy. Besides the better headline number, the Unemployment Rate declined to 5.4% – another positive development. Sure enough, the US economy still needs to recover about 5 million jobs lost during the pandemic. But solid reports like the one from last Friday bring the Fed closer to fulfill its employment mandate, and thus the tightening of the financial conditions may be just around the corner. The Fed, as a central bank, has a dual mandate. It aims at price stability and maximum employment. The price stability mandate is monitored by the changes in inflation. Inflation is already above Fed’s target, even though it is unclear how long is the period the Fed looks at averaging inflation to 2%. What remains is improvements in the labor market – and the July NFP report shows such improvements. The bias is now that the Fed will announce the tapering of its asset purchases sooner than expected, and so the US dollar ticked higher on the news. The Technical Picture Also Favors a Stronger Dollar From a technical analysis perspective, the US dollar may be at the end of a cycle. The Dollar index formed a double top at the 100 level, but it recently found both horizontal and dynamic support in the 90 area. A quick look at the rising trend reveals the fact that the Dollar index has kept the series of higher lows intact, just like it is supposed to do in a rising trend. Hence, as long as the index holds above 89, the bias remains bullish. Moving forward, traders will look for clues about what the Fed will do next. Is the July NFP report strong enough to trigger earlier tapering? If yes, the US dollar’s rally should continue unabated. FXOpen Blog

GBP/USD and EUR/GBP Target Additional Losses GBP/USD started a steady decline from the 1.4000 resistance zone. EUR/GBP also declined and it broke the key 0.8500 support zone. Important Takeaways for GBP/USD and EUR/GBP The British Pound failed to surpass the 1.4000 resistance zone and started a fresh decline. There is a major bearish trend line forming with resistance near 1.3915 on the hourly chart of GBP/USD. EUR/GBP started a fresh decline from well above the 0.8550 pivot level. There is a key bearish trend line forming with resistance near 0.8500 on the hourly chart. GBP/USD Technical Analysis The British Pound made many attempts to clear the 1.3400 resistance level against the US Dollar, but it failed. As a result, the GBP/USD pair started a steady decline below the 1.3950 level. The pair even broke the 1.3920 support level and it settled below the 50 hourly simple moving average. Finally, there was a break below the 1.3900 support and the pair traded as low as 1.3855 on FXOpen. It is now consolidating losses above the 1.3850 support. An immediate resistance on the upside is near the 1.3875 level. The 23.6% Fib retracement level of the downward move from the 1.3948 swing high to 1.3855 low is also near the 1.3875 level. The first major resistance is now forming near the 1.3900 zone and 50 hourly simple moving average. It is close to the 50% Fib retracement level of the downward move from the 1.3948 swing high to 1.3855 low. Moreover, there is a major bearish trend line forming with resistance near 1.3915 on the hourly chart of GBP/USD. Therefore, a proper break above the 1.3900 resistance and the trend line could open the doors for a steady increase. An immediate support on the downside is near the 1.3850 level. A downside break below the 1.3850 level might call for more losses. The next major support is near the 1.3800 level. Any more losses could lead the pair towards the 1.3740 level in the near term. Read Full on FXOpen Company Blog...

Gold Price and Crude Oil Price Show Bearish Signs Gold price started a fresh decline from well above $1,825. Crude oil price is also declining and it broke the main $70.00 support zone. Important Takeaways for Gold and Oil Gold price failed to clear the $1,830 level and it started a fresh decline against the US Dollar. There was a break below a major bullish trend line with support near $1,815 on the hourly chart of gold. Crude oil price also started a fresh decline from well above the $72.00 zone. There is a connecting bearish trend line forming with resistance near $69.25 on the hourly chart of XTI/USD. Gold Price Technical Analysis This week, gold price failed once again to clear the $1,830 resistance against the US Dollar. The price traded as high as $1,831 on FXOpen before it started a fresh decline. There was a break below the $1,820 and $1,810 support levels. The price even broke the $1,805 support and the 50 hourly simple moving average. Besides, there was a break below a major bullish trend line with support near $1,815 on the hourly chart of gold. The price spiked below $1,800 before the bulls appeared. The price is now consolidating losses, with an immediate resistance near the $1,810 level. The first key resistance is near the $1,810 level and the 50 hourly simple moving average. It is near the 38.2% Fib retracement level of the downward move from the $1,831 high to $1,797 low. The main resistance is near the $1,815 level. A close above $1,815 could set the pace for a larger increase. An initial support on the downside is near the $1,795 level. The first major support is near the $1,785 level. If there is a downside break, the price could test the $1,750 support in the near term. Read Full on FXOpen Company Blog...

Google Green-lights Crypto Ads On August 3, Google rolled out its new policy, allowing advertisers to officially offer their cryptocurrency and wallet exchange services online. The latest set of rules is quite tough. To weed out shadow advertising and crypto fraud, Google requires advertisers to register with the Financial Crime Enforcement Network (FinCEN). ICOs, banned from advertising back in 2018, are still a no-go. Thanks to this step, the corporation is expected to boost its revenue in the developing sector of digital currencies. Meanwhile, Ethereum masterminds have begun a countdown to the Thursday launch of the London update on their website. The update will affect how the network handles transaction fees. Ahead of the update, ETHUSD is showing more positive dynamics compared to BTCUSD. On July 31, the BTCUSD market had very small trading volumes (see fig. 1) around the 42k level, and the next day, the price showed bearish dynamics with growing volumes. This indicates a weak demand for the coin at a price of 42k and the dominance of supply. The current decline can be stopped by the level of 36k (or something close to it), where, on July 26, the bitcoin price was growing aggressively under pressure from buyers. FXOpen Blog

ForexCup Trading Championship 2021, a contest for traders to win $50,000, is now live! FXOpen, a trusted global CFD and Forex broker is proud to announce the launch of the ForexCup Trading Championship 2021. The contest with the main prize of $50,000 runs from January 1 to December 31, 2021, and is available to all traders with active FXOpen accounts. The ForexCup Trading Championship is a one-of-a-kind contest designed to engage investors, traders, and portfolio managers in fair and reliable global competition. For an entire year, participants will compete for the title of the best and for a hefty cash prize of 50,000 U.S. dollars, which will go to whoever demonstrates the most profit at the end of the year 2021. The contest is available to anyone who has an active FXOpen ECN account. The only requirement is to have a minimum trading deposit and follow the contest rules. Participants can choose any instruments available within their jurisdictions: spot FX, Index, Commodity, Stock, Metal or Crypto CFDs. Three personalized crystal trophies are prepared for the first three places, and the trader who takes the first place will receive a cash prize of $50,000 without any additional conditions. Forex Trading Championship is a brand-new name among other trading competitions, but it has a big legacy. With the support of renowned partners, including global Forex and ECN broker FXOpen, the championship provides an opportunity for you to compete with the best and put your trading strategies to the test! “We launched the ForexCup Trading Championship to provide our clients the unique opportunity to test not only themselves but to measure and compare their trading skills against their peers, to take the coveted position of Top Trader. Ultimately, we hope this will identify and inspire the next generation of Forex enthusiasts,” Gary Thomson asserts, the Chief Operating Officer of FXOpen UK. Anyone interested can sign up now or read more about Forex Trading Championship rules and philosophy here. FXOpen Company News