FXOpen Trader

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

We must understand that Forex trading is a Risky business option so we will have to bring down the Risks.

We will have to understand that the best trader is one who has devoted his Time and also Skills in doing this business.

I have been a Full Time Forex trader so i would like to say that Trading Skills are a must.

We will have to understand this that it is a Time Intensive business option and we must devote Full Time.

Forex trading is a type of business option that is suited to those Forex traders who have the Time to be invested into doing Forex trading.

We must understand this fact that in the business of Forex trading the main fact is to be able to earn profits on a Regular basis.

I was able to choose the Right Forex Broker and now i am a Successful trader with FXOpen

I started trading in the Forex markets in the Year 2010 with the International Forex Broker FXOpen. Since then i have been doing my trading with FXOpen Global with SUCCESS

EUR/USD is Facing Hurdles, USD/JPY Remains Elevated EUR/USD failed to stay above the 1.2100 zone and corrected lower. USD/JPY is trading in a positive zone above 109.00 and it is now approaching a major breakout. Important Takeaways for EUR/USD and USD/JPY The Euro started a fresh decline from well above the 1.2100 pivot level. There is a key bearish trend line forming with resistance near 1.2040 on the hourly chart of EUR/USD. USD/JPY started a decent increase above the 108.50 and 109.00 resistance levels. There is a major breakout pattern forming with resistance near 109.38 on the hourly chart. EUR/USD Technical Analysis After a spike above the 1.2125 level, the Euro faced a fresh round of selling against the US Dollar. As a result, the EUR/USD pair started a fresh decline below the 1.2100 pivot level. The pair broke a few key supports near 1.2080 and 1.2050. It even spiked below the 1.2000 level and settled well below the 50 hourly simple moving average. A low is formed near 1.1999 on FXOpen and the pair is correcting higher. There was a break above the 23.6% Fib retracement level of the recent decline from the 1.2075 high to 1.1999 low. The first major resistance on the upside is near the 1.2035 level. There is also a key bearish trend line forming with resistance near 1.2040 on the hourly chart of EUR/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the 1.2075 high to 1.1999 low. The 50 hourly simple moving average is also near the 1.2035 zone to act as a hurdle. If there is an upside break above the 50 hourly simple moving average and the trend line, the pair could rise further towards the 1.2100 pivot level. If not, there is a risk of more downsides below 1.2010. The main support is near 1.2000. A close below 1.2000 could open the doors for a move towards the 1.1920 support. Read Full on FXOpen Company Blog...

BTC and XRP – Retracement seen but further upside expected BTC/USD The price of Bitcoin has been on a decline from yesterday’s high at $59,000 and has made a 6.69% decrease measured to its lowest point today at $55.084. Now it is sitting slightly higher but is again looking like its struggling to keep up the recovery. On the hourly chart, you can see that the price of Bitcoin was on the rise since the 26th of April when an ascending triangle was made. Yesterday, we saw a breakout to the downside from the triangles support, which could imply that this ascending move ended as the five-wave increase. If this is true then the five-wave move was most likely a leading diagonal from the next impulsive move to the upside as the previous correction of the higher degree ended. Now we could be seeing the 2nd sub-wave of the next move to the upside which would retrace the price of Bitcoin to around $53,000 area most optimally where the 0.5 Fibonacci level is. This Fib level is standing in the vicinity of the significant horizontal support at $53,300 which might hold the price, but we could see the price going further down to the $51,221 area where the next one is. After this retracement ends, according to the primary count, we are to see further uptrend continuation and new highs for Bitcoin. Read Full on FXOpen Company Blog...

Weak Dollar Despite Strong U.S. Economic Performance The U.S. economy grew at 6.4% in the first quarter of the year, and it is in line to exceed the pre-pandemic growth level. The good news goes even further, as the growth in the first quarter exceeds the previous quarter’s growth of 4.3%. However, the U.S. dollar did not rise on the news. In fact, for the entire month of April, the dollar traded with an offered tone. For instance, with the exception of the last trading day of the month, the EURUSD moved only higher, from 1.17 to over 1.21 in less than thirty days. Fed Keeps the Accommodative Measures One day before the GDP release, the Federal Reserve of the United States (Fed) announced that it keeps the monetary policy accommodative despite the remarkable economic performance. As such, the Fed continues to buy $120 billion worth of assets every month, putting pressure on the dollar. The households’ savings rate at the end of the first quarter was 21%, up from 13% in the last quarter of 2021. The uncertainty generated by the pandemic continues, as households keep stashing funds and postpone consumption. However, the more people get a vaccine, the faster the U.S. economy will come back to normality. As such, the savings rate is expected to decline in the second quarter of the year, pushing the GDP even higher. It all comes down to the stimulus checks received by households. As the chart above shows, the stimulus checks played an important role during the pandemic, but yet the U.S. consumer is not spending it entirely, as suggested by the high savings rate. Moving forward, the trading month starts strongly with the Non-Farm Payrolls release scheduled next Friday. The market expects 975k new jobs to have been created in April and that the Unemployment Rate will decline to 5.7% from the previous 6%. However, the risk is that the data will be much better than expected, as suggested by the steady economic growth seen in the first quarter. As for the dollar, at one point, it should start reflecting the economic reality. Moreover, if the NFP exceeds expectations, the Fed will have a hard time keeping its current monetary policy stance and will be forced to announce the tapering of its asset purchases sooner than expected. FXOpen Blog

GBP/USD Turns Red, EUR/GBP Eyes More Upsides GBP/USD failed to test 1.4000 and started a fresh decline. EUR/GBP is showing positive signs and it is trading nicely above the 0.8675 support zone. Important Takeaways for GBP/USD and EUR/GBP The British Pound topped near the 1.3975 zone and started a fresh decline. There was a break below a key contracting triangle with support near 1.3885 on the hourly chart of GBP/USD. EUR/GBP started a fresh increase and it settled above the 0.8650 pivot level. There was a break above a major bearish trend line with resistance near 0.8695 on the hourly chart. GBP/USD Technical Analysis After a steady increase above the 1.3900 level, the British Pound faced sellers against the US Dollar. The GBP/USD pair failed to test the 1.4000 resistance zone and started a fresh decline. A high was formed at 1.3976 on FXOpen before the pair declined. It broke the 1.3920 and 1.3900 support levels. There was also a break below a key contracting triangle with support near 1.3885 on the hourly chart of GBP/USD. The pair settled well below the 1.3850 level and the 50 hourly simple moving average. It traded as low as 1.3801 and it is now attempting an upside correction. An initial resistance on the upside is near the 1.3840 level. It is near the 23.6% Fib retracement level of the downward move from the 1.3976 high to 1.3801 low. The first major resistance is near the 1.3860 level. The next major resistance is near the 1.3885 level. The 50% Fib retracement level of the downward move from the 1.3976 high to 1.3801 low is also near 1.3885. A successful close above 1.3850 and a follow up move above 1.3885 could open the doors for a move towards the 1.4000 resistance. Conversely, there is a risk of a fresh decline towards the 1.3800 support level. The next major support is near the 1.3780 level. Any more losses could initiate a drop towards the 1.3720 support zone. Read Full on FXOpen Company Blog...

If we will start doing constant Efforts in this business then we will make more improvements easily.

I am very satisfied with my Trading Results with the International Broker FXOpen Global

We must make use of the Lower trading leverage settings so that the risks will stay under control.

When we are trading we will need to manage our trades and use the correct Support and Resistance levels.

We do not have to do Gambling in this business and make use of the Trading Skills to get the Profits.

We will need to learn doing Money Management in our trades so that the income can start coming to us.

We will need to use Information that is available with us so that we are able to do our trading with Profits.

We will h ave to understand that in the business of Forex trading there is no place for Greed.

We have to do our trading with Lower Spreads and this is why i choose to do my trades with the FXOpen

I would like to say that making quick profits from this business is not possible and we will need to understand this.

We will need to make Extra Efforts so that we are able to increase our trading skills and knowledge in this field.

We have to understand the importance of the News in the Forex markets so that we can use them in doing our trades with Plan.