FXOpen Trader

AUD/USD Technical Analysis 23rd August 2021 The Aussie Dollar extended its decline and it tested the 0.7100 zone against the US Dollar. The AUD/USD pair traded as low as 0.7106 and it is now attempting an upside correction. It recovered above the 0.7130 level, but it is facing many hurdles near the 50 hourly simple moving average. There is also a key bearish trend line forming with resistance near 0.7165 on the hourly chart. A clear break above the trend line resistance could lead the pair towards the 0.7200 resistance. The next major resistance for the bulls could be 0.7220. If the pair fails to clear the trend line resistance, it could start a fresh decline below 0.7130. The next major support is near the 0.7100 level, below which there is a risk of a larger decline in the near term. FXOpen Blog

Gold Price Eyes More Gains, Crude Oil Price Faces Hurdles Gold price started a fresh increase after it tested the $1,680 support. Crude oil price declined and tested the $62.50 support zone. Important Takeaways for Gold and Oil Gold price started a major increase after a sharp decline to $1,680 against the US Dollar. A key bullish flag is forming with resistance near $1,790 on the hourly chart of gold. Crude oil price started a fresh decline from well above the $70.00 zone. There is a major bearish trend line forming with resistance near $66.00 on the hourly chart of XTI/USD. Gold Price Technical Analysis Recently, gold price saw a sharp decline below the $1,750 support against the US Dollar. The price even broke the $1,720 and $1,700 support levels. However, the bulls were active near the $1,680 zone. A support base was formed above $1,680 and the price started a strong increase. There was a clear break above the $1,720 resistance zone. The bulls were able to push the price above the $1,750 level and the 50 hourly simple moving average. A high was formed near $1,795 on FXOpen and the price is now consolidating gains. It traded below the $1,780 level. However, the bulls are protecting the 23.6% Fib retracement level of the upward move from the $1,717 swing low to $1,795 high. There is also a key bullish flag forming with resistance near $1,790 on the hourly chart of gold. If there is an upside break above the channel resistance, the price could even surpass the $1,800 resistance. The next major resistance could be near the $1,825 level. Conversely, the price might correct lower further below $1,778. An initial support on the downside is near the $1,765 level. The first major support is near the $1,758 level. It is near the 50% Fib retracement level of the upward move from the $1,717 swing low to $1,795 high. Read Full on FXOpen Company Blog...

Trading hours schedule for Summer Bank Holiday in UK Dear Traders, Due to the UK Summer Bank Holiday on 30th August, you will experience the following changes in the trading hours schedule: Friday, August 27th, 2021 Indices CFD: UK 100 (#UK100): trading ends at 23:00 GMT+3. All other markets will be open for trading as usual. Monday, August 30th, 2021 Indices CFD: UK 100 (#UK100): trading closed. All other markets will be open for trading as usual. Tuesday, August 31st, 2021 Indices CFD: UK 100 (#UK100): trading starts at 03:00 GMT+3. All other markets will be open for trading as usual. Please take these changes into consideration when planning your trading activities for the upcoming week. FXOpen Company News

EUR/USD and EUR/JPY: Euro Eyes Recovery EUR/USD extended its decline and tested the 1.1700 support zone. EUR/JPY is currently attempting an upside correction above the 128.40 resistance. Important Takeaways for EUR/USD and EUR/JPY The Euro extended its decline below the 1.1750 and 1.1720 support levels. There was a break below a key contracting triangle with support near 1.1765 on the hourly chart. EUR/JPY also gained bearish momentum below the 129.00 support zone. There is a major bearish trend line forming with resistance near 128.40 on the hourly chart. EUR/USD Technical Analysis The Euro started a major decline after it struggled to clear the 1.1800 resistance against the US Dollar. The EUR/USD pair broke the 1.1750 support zone to move into a bearish zone. There was also a break below a key contracting triangle with support near 1.1765 on the hourly chart. The pair traded below the 1.1720 support and settled below the 50 hourly simple moving average. A low is formed near 1.1702 on FXOpen and the pair is now correcting losses. There was a break above the 1.1715 level. An immediate resistance is near the 1.1725 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.1804 high to 1.1702 low. The main resistance is still forming near the 1.1740 and 1.1750 levels. It is near the 50% Fib retracement level of the recent decline from the 1.1804 high to 1.1702 low. A clear break above the 1.1750 resistance could push EUR/USD towards 1.1800. On the downside, the 1.1700 level is a major support. Any more losses might lead EUR/USD towards the 1.1650 support zone. The next major support sits near the 1.1620 level. Read Full on FXOpen Company Blog...

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