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The Bigger the Challenge, The Bigger the Opportunity to Grow Reading and understanding the chart Pattern The Candlestick Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members. Learn Forex Trading with FXOpen Forum

It Wont be Easy, It will be Worth It How to Be a Part Time Trader Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members. Learn Forex Trading with FXOpen Forum

EUR/USD Attempts Recovery While USD/JPY Trims Gains EUR/USD started a fresh increase from the 1.0940 support zone. USD/JPY rallied above 124.50 before it faced sellers near 125.00. Important Takeaways for EUR/USD and USD/JPY The Euro started an upside correction from the 1.0940 zone. There was a break above a key bearish trend line with resistance near 1.1025 on the hourly chart of EUR/USD. USD/JPY started a strong upward move above the 122.00 and 123.50 resistance levels. Recently, there was a move below a major bullish trend line with support near 123.00 on the hourly chart. EUR/USD Technical Analysis This past week, the Euro started saw bearish moves below the 1.1050 level against the US Dollar. The EUR/USD pair declined heavily below the 1.1000 support zone. The pair even broke the 1.0980 level and settled below the 50 hourly simple moving average. A low was formed near 1.0944 on FXOpen and the pair is now correcting higher. There was a move above the 1.1000 resistance levels. EUR/USD Hourly Chart Besides, there was a break above a key bearish trend line with resistance near 1.1025 on the hourly chart of EUR/USD. The pair climbed above the 1.1050 resistance and the 50 hourly simple moving average. It formed a high near 1.1136 and is currently consolidating gains. It tested the 23.6% Fib retracement level of the recent increase from the 1.0944 swing low to 1.1136 high. An immediate support is near the 1.1080. The next major support is near 1.1040 or the 50% Fib retracement level of the recent increase from the 1.0944 swing low to 1.1136 high, below which the pair could drop to 1.1000 in the near term. An immediate resistance on the upside is near the 1.1120 level. The next major resistance is near the 1.1140 level. The main resistance is near the 1.1150 level. An upside break above 1.1150 could set the pace for a steady increase. Read Full on FXOpen Company Blog...

BTCUSD and XRPUSD Technical Analysis – 29th MAR 2022 BTCUSD: Bullish Engulfing Pattern Above $42,000 We can see continuous appreciation in the price of BTCUSD from last week, and today it has managed to cross the $47,000 handle in the European trading session. Due to increased buying pressure, the price of bitcoin has been rising for 7 consecutive days, and the upwards growth also suggests that we are aiming for the level of $50,000. The strong wave of this bullish trend continues, with the price of bitcoin trading above the $47,500 mark in the European trading session today. We can clearly see a bullish engulfing pattern above the $42,000 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, which means that in the immediate short term, a decline in the prices is expected. The relative strength index is at 57 indicating a STRONG demand for bitcoin at the current market levels. Bitcoin is now moving above its 100 hourly simple moving average, and its 200 hourly exponential MA. All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 46,000 and 48,000. The average true range is indicating LESSER market volatility with a strongly bullish momentum. A bullish continuation pattern is seen above $42,000 The StochRSI is indicating an OVERSOLD level The price is now trading just below its pivot levels of $47,585 All of the moving averages are giving a STRONG BUY market signal Bitcoin: Bullish Continuation Pattern Seen Above $42,000 Bitcoin continues to move in a strong bullish momentum with an upwards projection towards the level of $48,000 in the European trading session today. In the immediate short term, we are expecting a continuation of this bullish trend with the price ranging between $46,000 and $49,000 as it is due to enter into a consolidation phase. We can see optimism among bitcoin traders, as it has managed to continue its upwards trend in the short-term range. The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook is bullish, and the long-term outlook remains neutral under present market conditions. The price of BTCUSD is now facing its classic resistance level of 47,668 and Fibonacci resistance level of 47,726, after which the path towards 48,000 will get cleared. We can see that the daily RSI is printing at 70 which indicates that in the medium-term prices are expected to appreciate further. In the last 24hrs BTCUSD has gone UP by 1.39% with a price change of 653$, and has a 24hr trading volume of USD 35.173 billion. We can see an increase of 2.78% in the trading volume as compared to yesterday, which appears to be normal. The Week Ahead The price of bitcoin is due to enter a consolidation phase below the level of $48,000. We can see some range-bound movement in its levels between $46,000 to $48,000. On January 24th bitcoin touched a low of $32,950, after which it has managed to rise by more than 41% to its current market level of $47,456. In the immediate short term, bitcoin’s bullish momentum is expected to continue pushing its levels above the $48,000 handle this week. The price of BTCUSD will need to remain above the important support level of $45,000. The weekly outlook is projected at $49,000 with a consolidation zone of $46,500. Technical Indicators: The relative strength index (14-day): at 56.33 indicating a BUY The average directional change (14-day): at 29.23 indicating a BUY Bull/Bear power(13-day): at 72.28 indicating a BUY The moving averages convergence divergence (12,26): at 275.90 indicating a BUY Read Full on FXOpen Company Blog...

Trading hours schedule for Ching Ming Festival Dear Traders, Please be aware of trading schedule changes for the Ching Ming Festival period on April 4 — 6 (all times are GMT+3): #HSI (Hong Kong 50) Monday, April 4: trading till 22:00; Tuesday, April 5: trading closed; Wednesday, April 6: trading starts at 04:15. All other financial instruments will be traded without changes. Please consider this information as you plan your trading. FXOpen Company News

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GBP/USD and EUR/GBP Remain At Risk of More Losses GBP/USD started a fresh decline from well above the 1.3250 level. EUR/GBP is also declining and trading below the 0.8350 support zone. Important Takeaways for GBP/USD and EUR/GBP The British Pound started a fresh decline from well above 1.3250 against the US Dollar. There was a break below a key contracting triangle with support near 1.3170 on the hourly chart of GBP/USD. EUR/GBP failed to stay above 0.8380 and started a fresh decline. There was a move below a major rising channel with support near 0.8335 on the hourly chart. GBP/USD Technical Analysis The British Pound struggled to settle above the 1.3280 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3250 support zone. There was a clear move below the 1.3220 level and the 50 hourly simple moving average. The bears pushed the pair below the 1.3200 level. There was a break below the 50% Fib retracement level of the upward move from the 1.3120 swing low to 1.3298 high (formed on FXOpen). GBP/USD Hourly Chart Besides, there was a break below a key contracting triangle with support near 1.3170 on the hourly chart of GBP/USD. The pair is now trading below the 76.4% Fib retracement level of the upward move from the 1.3120 swing low to 1.3298 high. It seems like the pair might continue to move down towards the 1.3130 support zone. The next major support sits near the 1.3120 level. Any more losses could lead the pair towards the 1.3050 support zone. On the upside, an initial resistance is near the 1.3175 level. The next main resistance is near the 1.3185 zone (the previous support) or the 50 hourly simple moving average. A clear upside break above the 1.3185 and 1.3200 resistance levels could open the doors for a steady increase in the near term. Read Full on FXOpen Company Blog...

Gold Price and Crude Oil Price Eye Additional Gains Gold price started a fresh increase above the $1,950 resistance. Crude oil price could regain traction if it stays above the $105 support zone. Important Takeaways for Gold and Oil Gold price started a fresh increase above $1,930 and $1,950 against the US Dollar. There was a break above a key bearish trend line with resistance near $1,932 on the hourly chart of gold. Crude oil price also started a fresh increase from the $95 support zone. Recently, there was a break below a major bullish trend line with support near $113.30 on the hourly chart of XTI/USD. Gold Price Technical Analysis Gold price formed a support base near $1,910 and started a fresh increase against the US Dollar. The price gained pace for a move above the $1,930 level to move into a positive zone. There was a clear move above the $1,950 level and the 50 hourly simple moving average. The price even climbed above the $1,960 resistance level. Besides, there was a break above a key bearish trend line with resistance near $1,932 on the hourly chart of gold. Gold Price Hourly Chart A high was formed near $1,965 on FXOpen and the price is now consolidating gains. On the downside, an initial support is near the $1,958 level. The first major support is near the $1,952 level. It is near the 23.6% Fib retracement level of the upward move from the $1,910 swing low to $1,965 high. The next major support is near the $1,950 level. The main support sits near the $1,938 level. It is near the 50% Fib retracement level of the upward move from the $1,910 swing low to $1,965 high. On the upside, the price is facing resistance near the $1,965 level. The main resistance is now forming near the $1,980 level. A close above the $1,980 level could open the doors for a steady increase towards $2,000. The next major resistance sits near the $2,030 level. Read Full on FXOpen Company Blog...