FXOpen Trader

We will need to start doing our trades with the use of the stop loss settings.

We can start learning about the Forex market trends and how it will work using the Demo Trading accounts of the FXOpen

We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen

You can start trading in the Forex Markets with a Deposit of 100USD in ECN Account of FXOpen Broker

Will have to make use of a trading plan that can work for us.

It is very important for the traders to make use of their skills

I have been doing my Forex trading from the last 10 Years with the International and Reputed Forex Broker FXOpen Markets They are a True ECN Forex Brokers.

We will help to increase our foreign exchange exposure and skills

To become of foreign exchange traded we have to do a lot of hard work

We will need to make a lot of effort in learning about foreign exchange markets

In the Europe a lot of activity is going on and we would need to learn about it

Gold Price And Crude Oil Price Hold Key Support Gold price is trading above a major support near $1,850. Similarly, crude oil price must stay above $94.30 to remain in a positive zone. Important Takeaways for Gold and Oil Gold price started a downside correction from the $2,070 high against the US Dollar. There is a major bullish trend line forming with support near $1,830 on the daily chart of gold. Crude oil price also started a downside correction from the $126.37 high. There is a key bullish trend line forming with support near $97.00 on the daily chart of XTI/USD. Gold Price Technical Analysis This past month, gold price started a strong increase from the $1,780 support zone against the US Dollar. There was a clear break above the $1,800 and $1,900 resistance levels. The price accelerated its gains above the $2,000 level and settled well above the 50-day simple moving average. It traded to a new multi-year high at $2,070 on FXOpen. Recently, it started a downside correction below the $2,000 level. Gold Price Daily Chart There was a break below the 50% Fib retracement level of the upward move from the $1,780 low to $2,070 high. It even traded below $1,925 and the 50-day simple moving average. An initial support on the downside is near the $1,872 level. The main support is near the $1,850 level and the 76.4% Fib retracement level of the upward move from the $1,780 low to $2,070 high. There is also a major bullish trend line forming with support near $1,830 on the daily chart of gold. Any further losses may perhaps open the doors for a larger decline towards the $1,800 and $1,780 levels in the near term. On the upside, an initial resistance is near the $1,925 level. The first major resistance is near the $1,935 level. A clear break above the $1,935 barrier might call for a move towards $2,000. Read Full on FXOpen Company Blog...

ETHUSD and LTCUSD Technical Analysis – 28th APR, 2022 ETHUSD: Rounding Bottom Pattern Above $2,700 Ethereum was unable to sustain its bullish momentum this week, and after touching a high of $3,036 on April 26th started to decline against the US dollar. The bearish momentum has pulled down the prices of Ethereum below the $2,800 handle touching a low of $2,766 on April 26th. The price has entered a consolidation channel above the $2,700 handle; we are in a mildly bullish phase in the European trading session. We can clearly see a rounding bottom pattern above the $2,700 handle, which is a bullish pattern signifying the end of a bearish phase and the start of a bullish phase in the markets. ETH is now trading just above its pivot level of $2,924 and is moving in a mildly bullish channel. The price of ETHUSD is testing its classic resistance level of $2,948 and Fibonacci resistance level of $2,966, after which the path towards $3,100 will get cleared. The relative strength index is at 63 indicating a STRONG demand for Ethereum and the continuation of the bullish trend. Both the StochRSI and Williams percent range are indicating an overbought level which means that the prices are due to decline in the short term. All of the technical indicators are giving a STRONG BUY market signal. All of the moving averages are giving a STRONG BUY signal, and we are now looking at the levels of $3,200 to $3,350 in the short-term range. ETH is now trading above both the 100 hourly and exponential MAs. Ether: bullish reversal seen above the $2,700 mark Short-term range appears to be mildly BULLISH The daily RSI is below 50 at 45, indicating a NEUTRAL market The average true range is indicating LESSER market volatility Ether: Bullish Reversal Seen Above $2,700 ETHUSD is now moving in a mildly bullish channel, with the price trading above the $2,900 handle in the European trading session today. Ethereum’s demand is increasing, which is leading to a slow rise in its levels, and now we are looking at the immediate targets of $3,000 and $3,150. ETHUSD is now facing its immediate resistance level of $3,149 and $3,203, after which we will see a linear progression towards $3,300. The key support levels to watch are $2,869 and $2,880, and the price of ETHUSD need to remain above these levels for the continuation of the bullish trend. ETH has gained 1.88% with a price change of 54.35$ in the past 24hrs, and has a trading volume of 17.239 billion USD. We can see a decrease of 16.56% in the total trading volume in the last 24 hrs, which appears to be normal. The Week Ahead We can see the formation of a bearish harami pattern in the 15-minute timeframe, which indicates a potential short-term reversal in its levels. This is also confirmed by the MA200 crossover pattern located at $2,964 and $2,943. The transaction fees of Ethereum continue to decline by more than 90% in a period of 6 months. At present, the average transaction fee is about $5.80. The on-chain metrics are also indicating a bullish scenario for Ethereum in the medium-term range with a projection level of $3,800 to $4,000. The immediate short-term outlook for Ether has turned mildly BULLISH; the medium-term outlook has turned neutral; the long-term outlook for Ether is NEUTRAL in present market conditions. This week, Ether is expected to move in a range between $3,000 and $3,200, and next week, Ether is expected to enter a consolidation phase above the level of $3,200. Technical Indicators: Stoch (9,6): at 51.80 indicating a NEUTRAL level The moving averages convergence divergence (12,26): at 9.17 indicating a BUY The ultimate oscillator: at 56.21 indicating a BUY Bull/ Bear power (13-day): at 78.86 indicating a BUY Read Full on FXOpen Company Blog...

Success Is Not for the Lazy Understanding Support to Resistance Reverse Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members. Learn Forex Trading with FXOpen Forum

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Trading Hours Schedule for the HK Labour Day and UK Early May Bank Holiday 2022 Dear Traders, Due to the Labour Day in Hong Kong on 1st May, and the Early May Bank Holiday in the UK on 2nd May, you will experience the following changes in the trading hours schedule (all times are GMT+3): Friday, April 29 Indices: Hong Kong 50 (#HSI): trading till 22:00; UK100 (#UK100): trading till 23:00. Monday, May 2 Indices: Hong Kong 50 (#HSI): trading closed; UK100 (#UK100): trading closed. Tuesday, May 3 Indices: Hong Kong 50 (#HSI): trading starts at 04:15; UK100 (#UK100): trading starts at 03:00. All other financial instruments will be traded without changes. Please consider these changes when planning your trading activities. FXOpen Company News

EUR/USD Resumes Decline, USD/CHF Eyes More Gains EUR/USD declined heavily below the 1.0850 and 1.0750 levels. USD/CHF could gain pace if there is a move above the 0.9630 resistance. Important Takeaways for EUR/USD and USD/CHF The Euro started a major decline from the 1.0935 resistance zone against the US Dollar. There is a major bearish trend line with resistance near 1.0670 on the hourly chart of EUR/USD. USD/CHF formed a base above the 0.9500 support zone and started a decent increase. There is a key bullish trend line forming with support near 0.9600 on the hourly chart. EUR/USD Technical Analysis The Euro struggled to gain pace above the 1.0920 resistance level against the US Dollar. The EUR/USD pair started a fresh decline below the 1.0850 and 1.0750 support levels. There was a clear move below the 1.0700 level and the 50 hourly simple moving average. The pair even declined below the 1.0650 support level. It traded as low as 1.0633 on FXOpen and the pair is now consolidating losses. EUR/USD Hourly Chart On the upside, an initial resistance is near the 1.0665 level. There is also a major bearish trend line with resistance near 1.0670 on the hourly chart of EUR/USD. The next major resistance is near the 1.0700 level and the 50 hourly simple moving average. It is near the 23.6% Fib retracement level of the key drop from the 1.0936 swing high to 1.0633 low. The next major resistance is near the 1.0750 zone. A clear upside break above the 1.0750 zone could open the doors for a steady move. In the stated case, the pair might even surpass the 50% Fib retracement level of the key drop from the 1.0936 swing high to 1.0633 low. On the downside, an immediate support is near the 1.0635 level. The next major support is near the 1.0600 level. A downside break below the 1.0600 support could start another decline. Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 26th APR 2022 BTCUSD: Double Bottom Pattern Above $38,000 Bitcoin was not able to sustain its bullish momentum last week, and after touching a high of $42,901 on April 21st, started to decline heavily against the US dollar. The shortselling continued pushing down the price of BTC below the $39,000 handle, after which we saw some consolidation. A falling trend channel is forming on the chart, expected to push down the price of bitcoin below the $38,000 handle. We can also see a double bottom pattern above the $38,000 handle — which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend. The Stoch and Williams percent range are indicating an overbought level, meaning that in the immediate short term, a decline in the price is expected. The relative strength Index is at 61 indicating a STRONG demand for bitcoin at the current market levels. Bitcoin is now moving above its 100 hourly SMA and its 200 hourly exponential MA. Most of the major tech indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of $42,000 and $43,000. The average true range is indicating LESSER market volatility with a strong bullish momentum. Bullish reversal seen in bitcoin above $38,000 The StochRSI is indicating an OVERSOLD level The price is now trading just above its pivot levels of $40,429 All of the moving averages are giving a BUY market signal Bitcoin: Bullish Reversal Seen Above $38,000 Bitcoin has moved out of the falling trend we observed last week and now continues to consolidate its gains above the $40,000 handle in the European trading session. The bounce that we have seen above the $38,000 handle is expected to continue this week, and we are now looking at the targets of $42,000 and $45,000 in the medium-term range. The immediate short-term outlook for bitcoin is bullish; the medium-term outlook has turned bullish; the long-term outlook remains neutral under present market conditions. We are now looking at possible reversal and short selling at $40,500 and $40,450, as indicated by the MA5 and MA10 crossover pattern. This is further validated by the overbought level seen in the Stoch and Williams percent range. The price of BTCUSD is now facing its classic resistance level of $40,514 and Fibonacci resistance level of $40,627 after which the path towards $42,000 will get cleared. In the last 24hrs, BTCUSD has gone UP by 4.83% with a price change of 1859$, and has a 24hr trading volume of USD 32.922 billion. We can see an increase of 27.77% in the trading volume compared to yesterday, which is due to the buying by the medium-term investors. The Week Ahead The price of bitcoin touched an intraday high of $40,776 after which we saw some correction below the $40,500 handle. We are now in the low volatility zone, and a surge in the price is expected leading to the increase in volatility levels. The on-chain analysis is predicting a short-term rally towards the $45,000 handle this week. The current market condition is suitable for entering into a BUY position with targets of $43,000 and $45,000 for next week. This week, the price of BTCUSD will need to remain above the important support level of $40,000. The weekly outlook is projected at $43,000 with a consolidation zone of $42,500. Technical Indicators: The moving averages convergence divergence (12,26): at 252.30 indicating a BUY The average directional change (14-day): at 51.53 indicating NEUTRAL levels Bull/Bear power (13-day): at 115.78 indicating a BUY The relative strength index: at 61 indicating a BUY Read Full on FXOpen Company Blog...

GBP/USD Takes A Hit, USD/CAD Eyes More Gains GBP/USD started a major decline below the 1.3000 support. USD/CAD gained bullish momentum for a move above the 1.2650 level. Important Takeaways for GBP/USD and USD/CAD The British Pound started a fresh decline from the 1.3100 resistance zone. There is a short-term bearish trend line forming with resistance near 1.2820 on the hourly chart of GBP/USD. USD/CAD started a fresh increase from well below the 1.2550 zone. There was a break above a major bearish trend line with resistance near 1.2550 on the hourly chart. GBP/USD Technical Analysis After struggling to clear the 1.3100 resistance zone, the British Pound found started a fresh decline against the US Dollar. GBP/USD traded below the 1.3000 support level to move into a bearish zone. The bears gained strength for a move below the 1.2900 level and the 50 hourly simple moving average. The pair even spiked below the 1.2800 level and traded as low as 1.2793 on FXOpen. It is now consolidating above the 1.2800 level. GBP/USD Hourly Chart An immediate resistance is near the 1.2820 level. There is also a short-term bearish trend line forming with resistance near 1.2820 on the hourly chart of GBP/USD. The next key resistance is near the 1.2860 level. It is near the 23.6% Fib retracement level of the downward move from the 1.3090 swing high to 1.2793 low. The first major resistance is near the 1.2940 level. The 50% Fib retracement level of the downward move from the 1.3090 swing high to 1.2793 low is also near the 1.2940 level. If there is an upside break above the 1.2940 zone, the pair could rise towards 1.3000. The next key resistance could be 1.3050, above which the pair could gain strength. On the downside, the first support is near the 1.2800 area. The first major support is near the 1.2750 level. If there is a break below 1.2750, the pair could extend its decline. The next key support is near the 1.2625 level. Any more losses might call for a test of the 1.2550 support. Read Full on FXOpen Company Blog...

AUD/USD and NZD/USD At Clear Risk of More Downsides AUD/USD gained bearish momentum below the 0.7400 support zone. NZD/USD started a major decline after it faced sellers near 0.6815. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh decline after it struggled near 0.7450 against the US Dollar. There was a break below a key bullish trend line with support near 0.7390 on the hourly chart of AUD/USD. NZD/USD also started a major decline after it failed to stay above 0.6800. There was a move below a key bullish trend line with support near 0.6740 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar faced a strong selling interest near the 0.7450 level against the US Dollar. The AUD/USD pair started a major decline below the 0.7420 level. There was a clear move below the 0.7400 and 0.7380 support levels. The pair even declined below the 0.7350 support level and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 0.7390 on the hourly chart of AUD/USD. AUD/USD Hourly Chart The pair traded as low as 0.7332 on FXOpen and is currently consolidating losses. On the upside, the AUD/USD pair is facing resistance near the 0.7350 level. The next major resistance is near the 0.7360 level. It is near the 23.6% Fib retracement level of the recent drop from the 0.7457 swing high to 0.7332 low. The first major resistance is now forming near the 0.7400 level. The 50% Fib retracement level of the recent drop from the 0.7457 swing high to 0.7332 low is also near the 0.7395 level. A close above the 0.7400 level could start a steady increase in the near term. The next major resistance could be 0.7450. On the downside, an initial support is near the 0.7330 level. The next support could be the 0.7300 level. If there is a downside break below the 0.7300 support, the pair could extend its decline towards the 0.7250 level. Any more downsides might send the pair toward the 0.7220 level. Read Full on FXOpen Company Blog...