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Work Hard, Travel Farther How to Control your Losses Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members. Learn Forex Trading with FXOpen Forum

Stop Overthinking, Just Do It Success and Failure in Trading Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members. Learn Forex Trading with FXOpen Forum

AUD/USD and NZD/USD Remain Supported for More Gains AUD/USD extended increase above the 0.7200 resistance. NZD/USD is also showing a lot of positive signs above the 0.6500 level. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh increase from the 0.7150 support zone against the US Dollar. There was a break above a short-term contracting triangle with resistance near 0.7162 on the hourly chart of AUD/USD. NZD/USD also started a decent increase after it cleared the 0.6500 resistance zone. There was a move above a major bearish trend line with resistance near 0.6520 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar formed a base above the 0.7150 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace for a move above the 0.7185 resistance zone. There was a break above a short-term contracting triangle with resistance near 0.7162 on the hourly chart of AUD/USD. The pair even settled above the 0.7240 level and the 50 hourly simple moving average. AUD/USD Hourly Chart It traded as high as 0.7282 on FXOpen and is currently correcting gains. There was a move below the 0.7270 support zone. However, the pair is still above the 23.6% Fib retracement level of the upward move from the 0.7140 swing low to 0.7282 high. On the downside, an initial support is near the 0.7250 level. The next support could be the 0.7230 level. The main support is near the 0.7210 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the 0.7140 swing low to 0.7282 high. If there is a downside break below the 0.7210 support, the pair could extend its decline towards the 0.7150 level. Any more downsides might send the pair toward the 0.7080 level. On the upside, the AUD/USD pair is facing resistance near the 0.7280 level. The next major resistance is near the 0.7320 level. A close above the 0.7320 level could start a steady increase in the near term. The next major resistance could be 0.7450. Read Full on FXOpen Company Blog...

ETHUSD AND LTCUSD Technical Analysis – 02nd JUNE, 2022 ETHUSD: Bearish Engulfing Pattern Below $2015 Ethereum was unable to sustain its bullish momentum last week and after touching a high of 2011 on 31st May started to decline heavily against the US Dollar. We can see a strong bearish momentum this week and this is putting downwards pressure on the prices of Ethereum below the 1850 handle in the European Trading session today. We can see the formation of a Major bearish trend line today on the hourly chart and the pair is poised to decline further given the weak investor sentiments. The prices touched an Intraday Low of $1794 in the Asian trading session and an Intraday High of $1843 in the European Trading session today. We can clearly see a Bearish Engulfing Pattern Below the $2015 handle which is a Bearish pattern and signifies the end of a Bullish phase and the start of a Bearish phase in the markets. ETH is now trading just above its Pivot levels of 1817 and is moving into a Strong bearish channel. The price of ETHUSD is now testing its Classic support levels of 1767 and Fibonacci support levels of 1805 after which the path towards 1700 will get cleared. Relative Strength Index is at 40 indicating a WEAK market and the continuation of the decline after the consolidation phase gets over. The STOCHRSI is indicating Oversold levels which means that the prices are due to correct upwards in the short-term range. ALL of the of the Technical indicators are giving a STRONG SELL market Signal. All of the Moving Averages are giving a STRONG SELL Signal and we are now looking at the levels of $1700 to $1600 in the short-term range. ETH is now trading Below its both the 100 Hourly and Exponential Moving Averages. Ether Bearish Reversal seen below the $2015 mark. Short-term range appears to be Strongly BEARISH. Daily RSI is Below 50 at 38 indicating a Bearish market. Average True Range is indicating HIGH Market Volatility. Ether Bearish Continuation Seen Below $2015 ETHUSD is now moving into a Strong Bearish channel with the prices trading below the $1850 handle in the European Trading session today. We can see the formation of a Major Bearish trend line in the hourly chart which suggests that further decline in the prices of Ethereum are expected. The prices of Ethereum are moving into a consolidation channel now and after the consolidation phase is over a further decline in its levels is expected. The key resistance levels to watch are $1919 and $2046 and the prices of ETHUSD need to cross these levels for a potential Bullish reversal. ETH has declined by 5.80% with a price change of 112$ in the past 24hrs and has a trading volume of 21.678 Billion USD. We can see an Increase of 22.75% in the total trading volume in last 24 hrs. which is due to the continuation of the selling pressure across the global markets. The Week Ahead The global investor sentiments are weak and they are not willing to enter into the markets now, which is the main reason for the continuous fall in the prices of the Ethereum. The delay in the implementation of the ETH 2.0 upgrade continues to affect the prices of Ethereum in the short-term range. The immediate short-term outlook for the Ether has turned as Strongly BEARISH, the medium-term outlook has turned BEARISH, and the long-term outlook for Ether is NEUTRAL in present market conditions. In this week Ether is expected to move in a range between the $1600 and $1800 and in the next week Ether is expected to enter into a Consolidation phase above the $1800 levels. Technical Indicators: Williams Percent Range: It is at -78.90 indicating a SELL. Moving Averages Convergence Divergence (12,26): It is at -16.00 indicating a SELL. Ultimate Oscillator: It is at 40.51 indicating a SELL. Rate of Price Change: It is at -4.16 indicating a SELL. Read Full on FXOpen Company Blog...

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EUR/USD Could Dip While USD/JPY Aims More Gains EUR/USD struggled near 1.0785 and corrected lower. USD/JPY is rising and might continue to gain pace towards the 130.20 resistance Important Takeaways for EUR/USD and USD/JPY The Euro started a downside correction after it failed to surpass 1.0785. There is a key bearish trend line forming with resistance near 1.0725 on the hourly chart of EUR/USD. USD/JPY gained pace after it broke the 127.50 resistance zone. It surpassed a major bearish trend line with resistance near 127.55 on the hourly chart. EUR/USD Technical Analysis This past week, the Euro started a decent recovery wave above the 1.0680 level against the US Dollar. The EUR/USD pair cleared the 1.0720 and 1.0740 resistance levels. However, the pair faced sellers near the 1.0785 level. A high was formed near 1.0786 on FXOpen and EUR/USD started a downside correction. There was a move below the 1.0740 support and the 50 hourly simple moving average. EUR/USD Hourly Chart A low was formed near 1.0679 and the pair is now correcting higher. There was a move above the 1.0700 resistance level. It even spiked above the 50% Fib retracement level of the downward move from the 1.0786 swing high to 1.0679 low. However, the pair failed to gain pace above the 1.0740 level. It failed near the 61.8% Fib retracement level of the downward move from the 1.0786 swing high to 1.0679 low. There is also a key bearish trend line forming with resistance near 1.0725 on the hourly chart of EUR/USD. It is now moving lower and trading below 1.0710. An immediate resistance on the upside is near the 1.0725 level. The next major resistance is near the 1.0740 level. The main resistance is near the 1.0785 level. An upside break above 1.0785 could set the pace for a steady increase. If not, the pair might drop and test the 1.0675 support. The next major support is near 1.0650, below which the pair could drop to 1.0580 in the near term. Read Full on FXOpen Company Blog...

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