FXOpen Trader

We need to learn Forex trading skills and spend some time into this business so that we can understand this business.

If we want to learn doing Forex trading then we need to make use of the Demo Trading accounts.

We need to use such time frames in doing our trading that are more suited to us and easy for us to do our trading.

If we are doing our trading with Scalping then we will need to make us of the correct timings.

We need to use such kind of Trading strategy that is easy for us to understand and make the Profits.

I am doing my trading with the International Forex Broker FXOpen as they have the Lowest ECN Spreads.

FXOpen Promotion: Enjoy No Deposit Bonus for TickTrader Accounts Dear traders, FXOpen is happy to introduce $10 No Deposit Bonus for TickTrader ECN Accounts. The offer is open to all new clients who have registered with FXOpen and got Grade 1 verification. How to get the bonus? Register an FXOpen eWallet Get Grade 1 verification Open a TickTrader ECN account Read Full on FXOpen Company News...

Gold Price Extends Decline, Oil Price Trimming Gains Gold price struggled to clear $1,850 and started a fresh decline below $1,800. Crude oil price traded to a new multi-month high at $62.21 before starting a downside correction. Important Takeaways for Gold and Oil Gold price failed to gain momentum and declined below $1,800 against the US Dollar. There is a key bearish trend line forming with resistance near $1,795 on the hourly chart of gold. Crude oil price traded to a new multi-month high near $62.21 before correcting lower. There was a break below a major bullish trend line with support near $61.20 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price failed to clear the $1,850 and $1,855 resistance levels against the US Dollar. As a result, there was a fresh decline below the $1,825 and $1,820 support levels. The price gained bearish momentum below the $1,800 support and it even settled well below the 50 hourly simple moving average. It traded as low as $1,760 on FXOpen and it is currently consolidating losses. An initial resistance on the upside is near the $1,775 level. It is close to the 23.6% Fib retracement level of the recent decline from the $1,826 swing high to $1,760 low. The first major resistance is near the $1,780 level or the 50 hourly simple moving average. The next major resistance is near the $1,795 level. There is also a key bearish trend line forming with resistance near $1,795 on the hourly chart of gold. The trend line resistance is close to the 50% Fib retracement level of the recent decline from the $1,826 swing high to $1,760 low. Therefore, the price might struggle to clear the $1,795 and $1,800 resistance levels in the near term. On the downside, the first major support is near the $1,760 level. The next major support is near the $1,750 level. Any more losses might call for a move towards the $1,720 support level. Read Full on FXOpen Company Blog...

LTC and EOS – Correction soon to come? LTC/USD The price of Litecoin continued increasing since last week. From its lowest point last Thursday when it was sitting at $175.78 we have seen an increase of 36.57% measured to its highest point today at $240. Currently, it is being traded just below $230, but the price is in an upward trajectory overall. Looking at the hourly chart, you can see that the price of Litecoin was in an upward trajectory from the 27th of January when it made the second test of the horizontal support level which was the lower level of the descending triangle in which it was correcting. As a breakout was made in early February it set the price for a higher high than in January. This is the development of the next five-wave move to the upside. There is still more room to go before the end of this five-wave impulse but it is still unclear where the price increase could end. If the 3rd wave ended on the $194.31 level then currently we are seeing the development of the final wave’s 3rd sub-wave. In that case, another leg up would be expected of the lower degree. But if the 3rd wave of the higher degree count ended on yesterday’s high, then the price of Litecoin has more increasing potential. Read Full on FXOpen Company Blog...

January 2021 TOP 10 PAMM Accounts Overview January and New Year’s holidays are over, and the daily routine goes on. Now it is important to achieve stability when investing your savings. February is not a long month by the number of days, and the main challenge is to choose the right investment portfolio so that PAMM managers can show a positive result in such a short period. Read about how FXOpen top PAMM managers performed in January 2021 in our latest review. Read Full on FXOpen Company Blog...

EUR/USD and EUR/JPY: Euro Holding Key Supports EUR/USD declined from the 1.2170 zone, but it is holding the 1.2080 support. EUR/JPY climbed higher towards 128.50 and it is currently correcting gains. Important Takeaways for EUR/USD and EUR/JPY The Euro spiked above the 1.2150 resistance, but it struggled to clear 1.2170. There was a break below a connecting bullish trend line with support near 1.2135 on the hourly chart of EUR/USD. EUR/JPY started a strong increase above the 126.50 and 127.80 resistance levels. There is a major bullish trend line forming with support near 127.70 on the hourly chart. EUR/USD Technical Analysis In the past few days, the Euro remained stable above the 1.2050 and 1.2080 support levels against the US Dollar. The EUR/USD pair even made an attempt to gain strength above the 1.2150 resistance level. The pair spiked above 1.2150 and settled above the 50 hourly simple moving average. However, it failed to continue higher above the 1.2170 level. A high was formed near 1.2169 on FXOpen before the pair started a fresh decline. There was a break below a connecting bullish trend line with support near 1.2135 on the hourly chart of EUR/USD. The pair even broke the 1.2100 support and the 50 hourly simple moving average. It found support near the 1.2080 zone and traded as low as 1.2083. It is currently consolidating losses above the 1.2080 support level. An initial resistance is near the 23.6% Fib retracement level of the recent decline from the 1.2169 high to 1.2083 low at 1.2100. The next major resistance is near the 1.2125 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the recent decline from the 1.2169 high to 1.2083 low. Any more gains could open the doors for a fresh increase above 1.2150. If EUR/USD fails to recover, it could break the 1.2080 support level. The next major support is near the 1.2050 level, below which the pair could dive towards the 1.2000 support level. Read Full on FXOpen Company Blog...

BTC and XRP – New highs expected BTC/USD The price of Bitcoin has continued its upward trajectory from last Monday and came up from $37,691 at its lowest point to $49,808 at its highest point on Sunday which was an increase of 32.15%. From Sunday’s high, we have seen a pullback to the $46,000 zone but the price is now once again in an upward trajectory. Currently, it is sitting just slightly above $49,000 mark and is testing its horizontal resistance. On the hourly chart, you can see that this rise is the next developing 5th wave from the higher degree impulse and from the lower degree one as well. This is why further upside would be expected but is most likely the ending wave from the rise that started on the 27th of January. The price has been forming an ascending triangle from the 9th of February when the 3rd impulse wave was formed out of the lower degree. Now as the price has reached the apex of the triangle and then retraced back it appears that it made the completion of the 4th wave corrective structure. If this is true now another impulse to the upside has started with the price leading towards a new all-time high, potentially above $52,000. Read Full on FXOpen Company Blog...

Trade Crypto and Stocks CFDs from one ECN account! Dear Clients, FXOpen is happy to announce that we have made our trading environment even more efficient and convenient for you! Clients with ECN accounts who trade on MetaTrader 4 and MetaTrader 5 platforms can now trade crypto and stocks CFDs from one ECN account. Available leverage for Stocks CFDs is 1: 5, for Crypto CFDs is 1: 3. We now offer popular stocks among traders such as Apple Inc., Walt Disney Co., Bank of America Corp., Coca-Cola Co. and others, as well as the most popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple. There are more than 100 new instruments available for trading on the MT4 and MT5 platforms. Learn more…. We would also like to inform you that clients who trade on the TickTrader platform now have access to even more trading instruments - over 600 CFDs on the most popular stocks and cryptocurrencies. FXOpen Company News

Equity Indices Remain Bid as America Awaits New Fiscal Stimulus Last week brought little or no movements on the financial markets. The VIX index, which measures volatility, dropped to levels not seen so far during the pandemic. The lack of important economic data contributed to this environment. With a few exceptions, like the CPI or the inflation data in the United States, all other data was second- or third-tier. Effectively, it means that the focus was on the stock market’s price action. This week will likely be the same as it starts with a holiday (i.e., Presidents’ Day in the United States) and no important data until next Friday when the European PMIs are released. Read Full on FXOpen Company Blog...

GBP/USD and EUR/GBP: British Pound Gains Momentum GBP/USD is gaining bullish momentum above the 1.3800 and 1.3840 resistance levels. EUR/GBP is declining and it broke a major support at 0.8745. Important Takeaways for GBP/USD and EUR/GBP The British Pound started a strong increase above the 1.3800 resistance zone. There was a break above a major contracting triangle with resistance near 1.3790 on the hourly chart of GBP/USD. EUR/GBP started a fresh decline after it failed to clear the main 0.8800 resistance zone. There was a break below a key bullish trend line with support near 0.8760 on the hourly chart. GBP/USD Technical Analysis After forming a base above the 1.3750 and 1.3780, there was a fresh increase in the British Pound against the US Dollar. The GBP/USD pair broke the 1.3800 and 1.3840 resistance levels to move further into a positive zone. Moreover, there was a break above a major contracting triangle with resistance near 1.3790 on the hourly chart of GBP/USD. The pair strength and it was able to clear the 1.3850 resistance level. There was also a break above the 1.3880 level and the pair settled nicely above the 50 hourly simple moving average. A new multi-month high is formed near 1.3901 on FXOpen and the pair is currently consolidating gains. An initial support on the downside is near the 1.3880 level. The first key support is near the 1.3870 level. It is close to the 23.6% Fib retracement level of the upward move from the 1.3775 low to 1.3901 high. The next key support is near the 1.3850 level. Any more losses may possibly lead the pair towards the 1.3840 level. It coincides with the 50% Fib retracement level of the upward move from the 1.3775 low to 1.3901 high. On the upside, the 1.3900 level is a short-term resistance. A close above the 1.3900 level will most likely set the pace for a move towards the 1.4000 level in the near term. Read Full on FXOpen Company Blog...

Gold Price Starts Fresh Decline, Oil Price Correcting Gains Gold price failed to clear the $1,855 resistance and started a fresh decline. Crude oil price is correcting gains and it might test the $57.00 support zone. Important Takeaways for Gold and Oil Gold price started a fresh increase, but it failed near $1,855 and $1,860 resistance levels against the US Dollar. There was a break below a major bullish trend line with support near $1,838 on the hourly chart of gold. Crude oil price traded to a new multi-month high near $58.75 before correcting lower. There was a break below a key bullish trend line with support near $58.20 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price started a decent recovery wave from the $1,785 zone against the US Dollar. The price climbed above the $1,820 and $1,840 resistance levels. However, the price struggled to clear the $1,855 and $1,860 resistance levels. A high was formed near $1,855 before the price started a fresh decline. There was a break below the $1,840 level and the 50 hourly simple moving average. The price traded below the 38.2% Fib retracement level of the upward move from the $1,784 swing low to $1,855 high. There was also a break below a major bullish trend line with support near $1,838 on the hourly chart of gold. The price is now approaching the $1,820 support zone. The 50% Fib retracement level of the upward move from the $1,784 swing low to $1,855 high is also near the $1,820 level. If there is a downside break below the $1,820 support level, the price might continue to move down towards the $1,800 level. Any more losses could lead the price towards the $1,784 swing low. On the upside, the price is likely to face resistance near the $1,830 level. The next major resistance is probably forming near the $1,840 level and the 50 hourly simple moving average. Read Full on FXOpen Company Blog...

We must try to manage our trading psychology so that it will not affect our trading and the profits.

The forex traders must understand that getting profits will not be easy and the ability to do more efforts and hardworking also.

Many times it will happen that we will be using emotions in our trading that can give us more losses than profit .

We must try to generate interest in Forex trading and only do such trading activity which can give us profit .

I choose to do my trading with international and reputed Forex broker FXOpen because of peace of mind.

It is true that many times we can get losses in to our trading account so we need to be careful about that.

Doing our trading with the help of scalping will not be easy because we will need to do fast trading.

I am doing Forex trading with the help of International and reputed Forex Broker FXOpen which allowed me to do my trading with success.

When we are doing our trading we must monitor our trading so that we can get good results.