Forexcup contest withdrawable prize

Discussion in 'Business, Politics, & Debates' started by Suradi, Aug 11, 2015.

  1. Suradi

    Suradi Member

    EUR/USD UNDER PRESSURE

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    The Euro started a strong rise from the 1.1107 swing low against the US Dollar. The EUR/USD pair climbed above the 1.1155 and 1.1200 resistance levels. However, the bulls failed to keep the pair above the 1.1200 level.

    A swing high was formed at 1.1215 on FXOpen and the pair recently started a downside correction. It broke the 1.1200 and 1.1185 support levels to enter a short term bearish zone.

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    During the decline, the pair settled below the 1.1185 level and the 50 hourly simple moving average. Moreover, there was a break below a connecting bullish trend line with support at 1.1188 on the hourly chart.

    The pair is currently testing the 50% Fib retracement level of the last wave from the 1.1107 low to 1.1215 high. On the downside, the main support is near the 1.1148 and 1.1145 levels.

    The 61.8% Fib retracement level of the last wave from the 1.1107 low to 1.1215 high is also near the 1.1148 level. On the upside, there is a strong resistance forming near the 1.1180 and 1.1185 levels.

    There is also a key bearish trend line forming with resistance near 1.1182 on the hourly chart of EUR/USD. Therefore, a short term recovery is likely to face a strong selling interest near the 1.1185 level. The next important resistance for the bulls is near the 1.1200 level

     
  2. Suradi

    Suradi Member

    EUR/USD UNDER PRESSURE

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    The U.S. Dollar Index continued its steady ascent, nearing two year highs on Thursday as trade tensions between China and the United States intensified.

    The index gauges the value of the dollar relative to a basket of six major currencies.

    China-U.S. Trade War

    A slew of alarming headlines has left the markets rattled this week and given rise to a ‘risk-off’ atmosphere. President Trump said on Monday that the U.S. is “not ready” for a trade deal with China. The People’s Daily, China’s largest state owned newspaper, followed up on Wednesday with a commentary titled “United States, don’t underestimate China’s ability to strike back”.

    This warning was in turn followed on Thursday by Chinese Vice Foreign Minister Zhang Hanhui stating that provoking trade disputes was “naked economic terrorism”. The news in particular sparked fears that China could restrict its export of rare earth materials, which are essential components widely used in high-tech consumer electronics.

    The U.S. dollar has been boosted by virtue of it’s safe haven appeal. Meanwhile the Japanese yen, which is normally in high demand during tumultuous periods, has been held down by domestic demand for dollars according to analysts.

    Rate Cuts

    Concerns over the trade war have led analysts to expect two Federal Reserve rate cuts by 2020, amid concerns over slowing global economic growth and soft industrial production, retail sales and durable goods figures. Previously the markets had anticipated only one rate cut.

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  3. Suradi

    Suradi Member

    GOLD PRICE CLIMBING

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    Gold price started a decent upward move after forming a support base near $1,274

    Gold Price Technical Analysis

    Gold price found support near the $1,270 level and recently started an upward move against the US Dollar. The price settled above the $1,274 pivot level and extended gains above the $1,280 level.

    The recent rise was positive above the $1,285 and $1,290 resistance levels. Moreover, there was a close above the $1,285 level and the 50 hourly simple moving average.

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    During the upward move, there was a break above a major bearish trend line with resistance at $1,284 on the hourly chart of gold. The price traded above the $1,290 level and recently traded close to the $1,294 level on FXOpen.

    At the moment, the price is correcting lower towards $1,288. An initial support is near the 23.6% Fib retracement level of the recent wave from the $1,275 swing low to $1,294 high.

    However, the main support is near the $1,288 level (the recent resistance area). The next support is near the $1,286 level and the 38.2% Fib retracement level of the recent wave from the $1,275 swing low to $1,294 high.

    If there are more losses, the price might test the $1,285 support or the 50 hourly SMA. On the upside, if the price breaks the $1,294 and $1,295 levels, it could test the $1,300 resistance area.


     
  4. Suradi

    Suradi Member

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    US Dollar Index Speculator Positions

    Large currency speculators slightly lifted their net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

    The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 27,098 contracts in the data reported through Tuesday May 28th. This was a weekly rise of 386 contracts from the previous week which had a total of 26,712 net contracts.

    This week’s net position was the result of the gross bullish position dropping by -1,481 contracts (to a weekly total of 41,919 contracts) while the gross bearish position fell by -1,867 contracts for the week (to a total of 14,821 contracts).

    Speculator positions edged higher for a second week after having previously fallen for four out of the previous five weeks. Despite another week’s slight uptick, the recent trend of the USD Index bets steadily trending downward remains intact.

    Overall, the current standing has now been under the +30,000 net contract level for eleven straight weeks after having been above that threshold for the previous thirty-two weeks in a row.

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    Source investing

     
  5. Suradi

    Suradi Member

    FXOpen offers No-Commission Deposits throughout the summer

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    FXOpen is pleased to announce a new summer promotion that will let traders to save from 0.5 to 6% commission that is usually charged by payment systems for deposit transactions.

    Troughout the summer from June 1 to August 31, 2019 FXOpen’s clients can make deposits to their Forex accounts via any payment system available on the website except for Bank Wire Transfer.

    Read More


     
  6. Suradi

    Suradi Member

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    Dollar On The Back Foot Ahead Of Powell

    The greenback continues to retreat against the major rivals on Tuesday. EUR/USD pair jumped to April 18 highs around 1.1275, where the 100-DMA lies. The pair sees the third day of gains as the selling pressure around the common currency has eased after it found a bottom marginally above the 1.11 handle earlier last month.

    The negative pressure on the dollar rose after yesterday’s dovish comments from Bullard. The Fed official said that interest rate cut “may be warranted soon” given the rising risk to economic growth posed by global trade tensions as well as weak US inflation. Against this backdrop, traders rushed to sell the greenback as the central bank signaled it could change its stance on rates.

    Now, market participants are waiting for Powell’s testimony due later today. Should his tone come as more neutral, the dollar could switch into a recovery mode on signs of relief. Besides, the downside potential in the US currency could be limited by the persistent risk aversion. In this scenario, EUR/USD may retreat from the current levels and get back below 1.1240.

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  7. Suradi

    Suradi Member

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    EURUSD POSSIBLE TO REVERSE

    During Wednesday's trading session, the eurusd pair has formed a bullish pattern at the daily timeframe

    The gartley pattern is one of the patterns in the harmonic pattern that gives an indication of fixing the price trend, if seen forming the letter W or M, using fibo level as an aid to map a valid pattern

    With the appearance of the gartley pattern signal it is possible to sell and give stop loss bats in anticipation if the formed pattern fails as the right formation


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  8. Suradi

    Suradi Member

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    EURUSD: Outside Up Day

    The EUR/USD daily Forex chart reversed down yesterday from its break above the month-long trading range. However, it is reversing back up today. Traders are deciding if yesterday is a reversal or a pullback.

    Yesterday was an outside down day. But today is now an outside up day. This is a consecutive outside day pattern, which is a reliable buy signal for tomorrow. It will be stronger if today closes above yesterday’s high.

    Because of the yearlong bear channel, the bears want a reversal down. Every prior rally has reversed down within 2 – 3 weeks.

    However, a bear channel has a 75% chance of an eventual successful bull breakout. Consequently, one of these breakout attempts will probably be the start of a bull trend that will last many months.

    The bulls need consecutive closes above the March 20 major lower high to end the bear channel. Until then, the odds continue to favor bear rallies and reversals down after 2 – 3 weeks.

    Legs in trading ranges tend to go beyond minor support and resistance before reversing. The April 12 minor lower high is just above. This rally might have to get above that high before the bears will sell aggressively.

    Since the June 19 FOMC meeting is more important than usual, all financial markets might begin to go sideways into that report. Then, on the report, traders would decide on the direction of the next move.


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  9. Suradi

    Suradi Member

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    GBPJPY in a bearish shadow

    GBPJPY is still in a bearish tendency, at the BBMA 50 the trend is a significant decline, the sterling eye is still weakening due to the government not being able to get out of the red brexit condition.

    But on a lower time frame, the buy signal has given an indication to this pair with a moderate target, and does not forget to use stop loss as an anticipation step

    Many traders close positions on weekends because they avoid swaps at the end of this week, and wait for the market to reopen next Monday with new analysis conditions

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  10. Suradi

    Suradi Member

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    Pound Through $ 1.21 On High Recession Fear


    The GBP is under pressure due to concerns that the UK economy could head for the first recession in a decade.

    The toxic combination of Brexit uncertainty, running out of Brexit inventory built before the previous Brexit deadline and the closure of car factories, resulted in the British economy contracting 0.2% in the second quarter.

    Growth of only 1.2% is expected throughout the year, down from 1.8% and far from expectations.

    Given that the next Brexit deadline is 2½ months, there is still time for Brexit anxiety to continue to have a negative impact on the economy.

    This means a second consecutive second contraction and therefore a technical recession is now a very real possibility. Adding to the misery of the pound, industrial production and manufacturing figures also lost hope by a large margin.

    The outlook for the pound remains very fragile because the prospect of Brexit without agreement is increasing. With the blame game between the EU and Britain in full swing, the chances of the two sides to renegotiate Irish support seem slim; instead of preparing for worse case scenarios, no agreement prioritized Brexit.

    Add to this a clearly bleak mix of British fundamentals, with little prospect for improvement in the near future and it's easy to see why bears are controlling the pound

    GBP / USD levels to watch out for

    The pound has broken through to $ 1.21 and is looking for support at $ 1.2080.

    A break here could open the door to support in the area of $ 1.2030 before the psychological level of $ 1.20.

    On the plus side, resistance can be seen at $ 1.2180 ahead of $ 1.22.

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  11. Suradi

    Suradi Member

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    EUR / USD is still in a triangle shape

    EUR / USD is still moving in the daily range, since 6 August ago the pair has not been able to pass the breakout, the price is moving in the daily high and low frames on the frrame.

    If this pair allows a break low, after the resistance area it will be possible to reverse the trend towards bearish.

    The pattern formed on the daily timeframe shows a triangle pattern, where the movement is increasingly conical due to weakening volume, this week is a crucial week of possible reversal of the trend

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  12. Suradi

    Suradi Member

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    EUR/GBP Technical Analysis

    The Euro remained well bid above the 0.9100 support area against the British Pound. The EUR/GBP pair started a decent upward move and climbed above the 0.9120 and 0.9200 resistance levels.

    It opened the doors for more gains and the pair broke the key 0.9250 resistance plus settled well above the 50 hourly simple moving average. Finally, the pair traded above the 0.9300 level and formed a new multi-month high at 0.9324.

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    At the moment, the pair is correcting gains below 0.9310. An immediate support is near the 0.9300 level plus the 23.6% Fib retracement level of the recent wave from the 0.9214 low to 0.9324 high.

    On the downside, there are many important supports, starting with 0.9280. The next key support is near the 0.9270 level plus the 50% Fib retracement level of the recent wave from the 0.9214 low to 0.9324 high.

    The main support is near the 0.9250 level and the 50 hourly simple moving average. Moreover, there is a major bullish trend line forming with support near 0.9240 on the hourly chart of EUR/GBP.

    Therefore, a downside correction towards the 0.9275 or 0.9250 support is likely to find a strong buying interest in the near term. Only a close below 0.9240 and the 50 hourly simple moving average might start a major decline.

    On the upside, an initial resistance is near the 0.9325 level, above which EUR/GBP could rise towards the 0.9360 and 0.9370 levels in the near term.

     
  13. Suradi

    Suradi Member

    WHAT IS LEVERAGE IN FOREX?

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    Leverage is a blanket term that describes debt that a person or business uses to increase their exposure to a market. Banks leverage their deposits to gain extra income, and many companies use debt to expand the amount of activity that is possible in a given time frame.

    A company may use debt to fund the acquisition of a smaller company which is experiencing a growth phase. The amount of money the larger company has to pay on the debt is likely to be much smaller than the revenue growth from the company they are buying, so taking on the leverage makes a lot of sense.

    Many traders and speculators also use leverage to amplify the potential gains from a given investment. By using more money than is deposited in a margin account, a small move in the markets will produce larger moves in the underlying account.

    What Is Leverage in Forex?

    Almost every Forex trader uses leverage when they trade in the global currency markets. Using leverage in the Forex markets simply means that a trader uses borrowed money to make Forex trades so that smaller moves in the markets create meaningful profits.

    Using leverage in the Forex markets is the same as using leverage in any other market. There are risks involved in using leverage, which are discussed below.

    How Does Forex Leverage Work?

    Let’s say that a trader has $5,000 in their Forex brokerage account, and they want to take on a $100,000 position in the EURUSD cross. The trader will need to use $95,000 in borrowed assets, which would give them a leverage ratio of 20:1.

    Leverage is easy to calculate. Just take the size of the position, and divide it by the amount of money in a margin account. In the above example, the amount of money backing up the $100,000 position is 1/20th the amount of the position, which can also be expressed as leverage of 20:1.

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    The margin balance is used to secure the position from a broker, and the trade is placed. If the market goes in the right direction for the trader, their profits will be 20 times higher than if they were trading with no leverage.

    How to Use Leverage in Forex Trading

    Leverage is almost always used by Forex traders because the amount of movement in major currency pairs is generally very small. By using borrowed money smaller market movements become much larger.

    When the Euro falls by 0.05% against the US Dollar, an unleveraged position would barely change in value. If the trader is using leverage of 10:1 that 0.05% move is now worth 0.5%. If leverage of 100:1 is used, it becomes a 5% movement.

    Choosing the right level of risk for a Forex trade is critical to maintaining a brokerage account, and making sure that the value of a position isn’t too large for the underlying margin. Failure to understand the risks that are involved in leverages positions can lead to big losses in the space of a single trading day.

    Leverage risk

    Using leverage means that both gains and losses are magnified.

    For example, in the example we used above, a move of just 1% in the wrong direction would mean that the trader would lose 20% of their margin balance. When a trader uses leverage, it is very important to calculate stop-loss levels with extreme precision.

    Knowing how to use stop-loss orders can help a trader to limit the amount of risk that is inherent to using leverage. Leveraged positions should never be opened without a stop-loss order in place, and the level of the stop-loss order should maintain a positive margin balance.

    FXOpen Broker Offers Great Trading Tools

    FXOpen Broker gives its clients the ability to use as much as 500:1 leverage with some of the best Forex account options available.

    Aspiring traders can open a Micro account at FXOpen Broker with as little as $1, and immediately gain access to leverage as high as 500:1. It also has great account options for more experienced traders. An ECN account with FXOpen Broker can be opened with $100, and gives traders access to more than 70 currency pairs, in addition to CFD trading.

    Using leverage is always going to carry risk, so FXOpen Broker gives its clients the industry-standard MT4 and MT5 trading platforms to manage buy and sell levels with some of the best trading platforms ever created.

    FXOpen Broker was founded as an educational platform for traders, and it maintains its dedication to helping clients become the best traders possible. If you want to learn more about the educational resources that FXOpen Broker offers, please click here!

    source blog fxopen

     
  14. allmarts

    allmarts New Member

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  15. Suradi

    Suradi Member

    HOW DOES CFD TRADING WORK?

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    CFD trading is one of the best ways for small investors to gain access to currency markets, and a whole lot more. Today modern Contract for Differences (CFD) brokers give their clients leveraged CFD that cover stocks, major indices, and FOREX markets.

    In addition to being easy to trade CFDs give investors the ability to rapidly trade between asset classes. There is no other kind of financial instrument that allows investors to take on various amounts of leverage across most major asset classes.

    What is CFD Trading?

    If you want to know more about ‘what is CFD trading’, you are in the right place. At its most basic level, Contract for Differences trading allows investors to trade a derivative contract with a trusted CFD broker.

    Most brokers use a trading platform that is easy to use and allows investors to buy and sell Contracts for Differences directly with the broker. If the value of the contract rises, then the investor will make a profit when the contract is sold.

    Trading CFDs is pretty simple and can make savvy investors a lot of money.

    Are CFDs Different from Stocks?

    In some ways, trading stocks is similar to trading CFDs.

    Like stocks, CFDs can be traded with retail brokerage accounts. Unlike stocks, CFDs aren’t the equity of actual companies. A Contract for differences represents the value of another financial instrument, like an equity, commodity, FOREX pair.

    Unlike stocks, a CFD is purchased from a single broker, who will be your counterparty for the trade. You don’t gain legal title to the equity of a company, and you can’t transfer the ownership of the CFD to a third party in most cases.

    How does a CFD Work?

    A CFD is simply a contract that represents the value of another financial instrument.

    For example, if you buy a CFD that is tied to the value of the NASDAQ 100, you can buy or sell that index in the form of a Contract for Differences.

    Let’s say you think that the value of the NASDAQ 100 is going to rise.

    At the moment you want to buy the stock index, it is trading at 7452. You can buy the NASDAQ 100 at this level, and if the price of the index rallies 7512, you will be able to sell the CFD and make a profit.

    Depending on the CFD broker, you may be able to buy a partial contract, which would require less capital in your margin account. Nearly every CFD broker will allow you to use leverage, which allows you to trade with more money than you have deposited with the broker.

    The Benefits of CFDs

    One of the biggest reasons why CFD trading makes sense for advanced investors and traders is the leverage they offer.

    Unlike margin accounts that limit the amount of borrowed money you can use to a fraction of your capital, most CFD brokers will allow you to use a multiple of your account’s capital.

    Let’s say you have $1,000 USD in your margin account, and you want to buy $10,000 worth of NASDAQ 100 CFDs. A $10,000 position in NASDAQ 100 CFDs would represent leverage of 10x, which is possible with most CFD brokers.

    It is important to remember that a fall of 10% in your position would wipe out your margin capital. Learning how to use risk management strategies is essential for any CFD trader. On the other hand, a 10% rise would double your initial margin, which is a 100% gain in real terms.

    One more benefit is that CFD provides a variety of trading opportunities. Many brokers currently offer index, treasury, currency (including cryptocurrency), stock, sector and commodity CFDs.

    Ready to Start Trading CFDs with FXOpen Broker?

    There are numerous CFD brokers out there, and it is important to deal with a CFD broker you can trust. FXOpen Broker has a range of account options for traders to choose from.

    With micro accounts that can be opened with just $100, FXOpen broker is ready to progress with a young trader as they grow. It also offers full ECN accounts for advanced traders that offer industry-leading fees which take advantage of every pip.

    FXOpen Broker more than 90 FOREX pairs, and has added numerous cryptocurrency pairs to its platform as the crypto world gained in popularity. FXOpen Broker also give its clients the industry-standard MT4 trading platform to use, which has a depth of third-party add-ons available to fine-tune it to perfection.

    If you want to learn more about all the FOREX pairs, cryptocurrency pairs, and CFDs that FXOpen Broker has waiting for traders, just click here!


    source blog fxopen

     
  16. Suradi

    Suradi Member

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    COMMISSION-FREE DEPOSITS THROUGHOUT THE SUMMER 2019

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    FXOpen announces a new summer promotion that will let traders to save from 0.5 to 6% commission that is usually charged by payment systems for deposit transactions.

    From June 1 to August 31, 2019 FXOpen’s clients can make deposits to their accounts via any payment system available on the website except for Bank Wire Transfer.

    Please check Payments → Funding options section to see the complete list of deposit options.

    Thus, you can avoid additional costs and take the opportunity to profitably manage your money!

    source blog fxopen

     
    Last edited: Aug 15, 2019
  17. Suradi

    Suradi Member

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    Oil Price Technical Analysis

    There was a slow and steady rise in crude oil price above the $54.00 resistance area against the US Dollar. The price traded as high as $57.36 and recently corrected below the $56.00 support.

    The price even broke the $55.00 support and the 50 hourly simple moving average. A swing low was formed near $53.76 and the price is currently correcting higher.

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    It traded above the $54.50 level plus the 23.6% Fib retracement level of the last slide from the $57.36 high to $53.76 low. Moreover, there was a break above a major bearish trend line with resistance near $54.60 on the hourly chart of XTI/USD.

    However, the price is facing a strong resistance near the $55.50 level and the 50 hourly SMA. The Fib retracement level of the last slide from the $57.36 high to $53.76 low is also near the $55.55 level.

    Therefore, an upside break above the $55.50 and $55.55 resistance levels might start a solid rise. The next key resistance is near the $56.00 level, above which the price could climb towards the last swing high near $57.36.

    On the downside, an immediate support is near the $54.40 level and a bullish trend line on the hourly chart. If there is a downside break below $54.40 and $54.20, the price could decline towards the $52.00 support area in the near term.

    source blog fxopen

     
  18. Suradi

    Suradi Member

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    EURJPY moves in the daily range.

    In the previous week the EURJPY pair had experienced significant up and down conditions.

    Price movements are still in the daily frame, and are hindered by the support area of ??117,580.

    At the moment the EURJPY at the market opening this Monday has risen from the open price by more than 15 pips, this allows a bullish move to bring the pair back into the daily resistance area.


    However, it should be noted that the price is still at H1 and allows for the retracement to still be possible


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  19. Suradi

    Suradi Member

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    USD/CAD Technical Analysis

    The US Dollar formed a strong support near 1.3200 and climbed higher against the Canadian Dollar. The USD/CAD pair traded above the 1.3240 and 1.3250 resistance levels to move into a positive zone.

    Moreover, there was a break above the 1.3300 level and the 50 hourly simple moving average. However, the pair failed near the key 1.3340 resistance area (the previous resistance zone).

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    As a result, the pair started a downside correction and declined below 1.3300. There was a break below the 1.3280 support and the 50 hourly simple moving average. Besides, the pair is now trading below the 50% Fib retracement level of the last wave from the 1.3210 swing low to 1.3338 high.

    However, there is a key support waiting near the 1.3250 and 1.3240 levels. An immediate support is near the 61.8% Fib retracement level of the last wave from the 1.3210 swing low to 1.3338 high.

    If there is a downside break below the 1.3240 support, USD/CAD could fall back towards the 1.3200 support area. On the upside, there is a key resistance forming near the 1.3280 and 1.3300 levels.

    Moreover, there is a connecting bearish trend line forming with resistance near 1.3280 on the hourly chart. A successful break above the trend line and 1.3300 could start a fresh increase in the near term towards 1.3340 or even 1.3360.

    blog.fxopen

     
  20. Suradi

    Suradi Member

    Join "Forex School" - a free educational contest on demo accounts

    On September? 2, 2019 FXOpen broker launches a free educational contest on demo accounts "Forex School". Everyone can participate in the competition.

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    "Forex School" is a unique possibility not only to improve your knowledge and skills in Forex trading, but also to get real money prizes. The contest will last for 4 weeks.

    Hurry up to register before September 15!


    Conditions of the contest:

    *Participation: free;
    *Dates: September 2 - September 27, 2019;
    *Registration: is already open and will last until September 15;
    *Rewards: for Top-16 traders:
    *1st place: USD 600;
    *2nd - 3rd place: USD 400;
    *4th - 16th place: USD 200;
    *Prize fund: USD 4000;
    *Initial deposit: USD 200;
    *Requirements: the initial deposit must be increased by at least 20% and the minimum quantity of trades must be 10;
    *Trading instruments (including oil and gas): 55;
    *Account type: demo (competition) ECN;
    *EAs and locking: allowed;
    *Maximum number of trades opened at the same time (including pending orders): 5;
    *Minimum volume of one order: 0.01 (lot);
    *Leverage: 1:100;
    *Margin call: 100%;
    *Stop out: 50%.

    Competition rules and restrictions:

    *One and the same participant can become a winner and receive a prize not more than once in all ForexCup contests (schools);
    *It's prohibited to provide unreliable personal information;
    *It's prohibited for one and the same trader to participate in a competition on several accounts from one IP address, as well as to use other traders' accounts;
    *It's prohibited to copy other participants' trading strategies in a competition;
    *It's prohibited for relatives to trade in one competition using one and the same IP address.
    *In case of violation of the above mentioned rules a participant will be disqualified and will lose the right to participate in the competition. Learn more…


    Important! The prize money will be added to the winner's investment account. This money can only be used to open a PAMM STP account for participation in the next contest on real accounts. Only profit from trading can be withdrawn from a PAMM STP account. It’s prohibited to close the prize PAMM account.

    How to join the contest?

    Newbies:


    *Register an account with ForexCup;
    *Join the contest using this link with the personal account data.

    Existing clients:

    *Verify your account in MyFXOpen;
    *Join the contest using this link with your FXOpen or ForexCup registration data.

    Please note that all competition accounts are blocked before the start of the contest.

    Useful links:

    Akun PAMM STP;
    Thread Sekolah Forex di Forum ForexCup;
    FXOpen di Telegram.



     
  21. Suradi

    Suradi Member

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    USD/CHF Technical Analysis

    The US Dollar started a decent upward move from the 0.9660 support area against the Swiss franc. The USD/CHF pair broke the 0.9700 and 0.9750 resistance levels to move into a bullish zone.

    Finally, the pair climbed above the 0.9800 level and the 50 hourly simple moving average. However, the bulls struggled to clear the key 0.9820 resistance level. As a result, the pair started a downside correction and traded below the 0.9800 level.

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    Moreover, there was a break below a major bullish trend line with support near 0.9790 on the hourly chart. The pair traded below the 23.6% Fib retracement level of the upward move from the 0.9659 low to 0.9820 high.

    However, the 0.9780 level is acting as a support. If there is a downside break below the 0.9780 and 0.9775 supports, the pair could extend its decline.

    The next major support is near the 0.9740 level. It represents the 50% Fib retracement level of the upward move from the 0.9659 low to 0.9820 high.

    Conversely, if there is no downside break below 0.9775, the pair could resume its rise. An immediate resistance is near the 0.9800 level, above which USD/CHF make another attempt to climb above the 0.9820 resistance level.

    blog.fxopen.com

     
  22. Suradi

    Suradi Member

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    Changes to CFD Trading Hours due to US Labour Day
    Dear Traders,
    Please note that due to the celebration of Labour Day on Monday, September 2nd 2019 in the US trading hours for some financial instruments will be changed as follows:

    • Forex pairs: normal trading hours;
    • Metals: trading session ends at 20:00;
    • Oil, Gas: trading session ends at 19:45;
    • Indices:
      • Japan 225: until 20:00;
      • US SPX 500: until 20:00;
      • US SPX 500 (Mini): until 20:00;
      • US Tech 100: until 20:00;
      • US Tech 100 (Mini): until 20:00;
      • Wall Street 30: until 20:00;
      • Wall Street 30 (Mini): until 20:00.

    Other indices will be traded without changes.

    Please, consider this information when planning your trading for the upcoming week.

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  23. Suradi

    Suradi Member

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    NZD/USD Technical Analysis

    The New Zealand Dollar started a major decline from well above the 0.6450 level against the US Dollar. The NZD/USD pair broke the key 0.6400 support level to enter a bearish zone.

    Moreover, there was a close below 0.6400 and the 50 hourly simple moving average. Finally, the pair declined towards the 0.6360 level and a swing low was formed near the 0.6361 level.

    [​IMG]

    At the moment, the pair is correcting higher above 0.6380 level plus the 23.6% Fib retracement level of the recent decline from the 0.6419 high to 0.6361 low. However, there is a strong resistance forming near the 0.6395 level and the 50 hourly simple moving average.

    Additionally, there is also a crucial bearish trend line forming with resistance near 0.6405 on the hourly chart. The 50% Fib retracement level of the recent decline from the 0.6419 high to 0.6361 low is also acting as a strong barrier.

    Therefore, the pair needs to settle above the 0.6400 resistance and the 50 hourly SMA to continue higher in the near term. The next key resistance above 0.6400 is near the 0.6440 level.

    Conversely, if there is no upside break above 0.6400, the NZD/USD pair could resume its decline. The main supports on the downside are near 0.6380 and 0.6360.

    blog.fxopen.com

     
  24. Suradi

    Suradi Member

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    The White House: Trump Regrets Not to Raise Higher Rates

    When President Donald Trump on Sunday (25/08) said he had other thoughts about the escalation of the trade war with China, the White House spokesman explained his intention was that the President wanted to increase tariffs for imported products from China.

    Trump, who announced tariff increases for imported products from China last week, raised his eyebrows during a meeting with British Prime Minister Boris Johnson at the G7 summit in Biarritz, France and firmly answered reporters' questions about the possibility of him having other thoughts about tariff increases.

    White House spokesman Stephanie Grisham tried to explain the statement. "The answer has been a lot of misinterpretation. President Trump responded emphatically - because he was sorry for not raising higher tariffs from the start," he was quoted as saying in a press release.

    Trump on Friday set an additional import tariff of 5% for Chinese products worth $ 550 billion, shortly after China announced the imposition of import tariffs for US products valued at $ 75 billion.

    The steps are the latest round of trade wars between the two largest economies in the world that have damaged global growth, disappointed allies, and raised market fears that the world economy will end in recession.

    Investing
     
  25. Suradi

    Suradi Member

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    EUR/GBP Technical Analysis

    The Euro started a significant downward move from the 0.9280 resistance against the British Pound. The EUR/GBP pair broke the key 0.9200 and 0.9150 support levels to enter a short term bearish zone.

    Moreover, there was a break below the 0.9100 support and close below the 50 hourly simple moving average. The pair declined close to the 0.9020 support and traded as low as 0.9028.

    [​IMG]

    Recently, the pair started an upside correction above the 0.9050 level and the 23.6% Fib retracement level of the decline from the 0.9156 high to 0.9028 low. However, the pair is facing hurdles near the 0.9100 level.

    It seems like the 50% Fib retracement level of the decline from the 0.9156 high to 0.9028 low is acting as a strong resistance. Moreover, there is a key bearish trend line forming with resistance near 0.9100 on the hourly chart.

    If there is an upside break and close above 0.9100, EUR/GBP could start a strong upward move towards the 0.9200 resistance. An intermediate resistance is near the 0.9150 level.

    On the other hand, if there is no break above the 0.9100 resistance, the pair could resume its decline. An immediate support is near the 0.9060 and 0.9050 levels. If there are more losses, the pair could even decline below the 0.9028 swing low in the near term.

    blog.fxopen.com

     
  26. Suradi

    Suradi Member

    [​IMG]

    EUR/USD Technical Analysis

    EUR / USD risk moves lower towards the 1.1051 / 25 support zone as it maintains downside pressure.

    For the support area around 1.1050 where a breakout is likely to change the risk to the level of 1.1000. If there is a breakout back to that support then it is likely to target the 1.0950 level. Further down, the support is at 1.0900. The daily RSI is bearish and pointing lower indicates further weakness.

    [​IMG]

    Conversely, on the upside, resistance comes at the level of 1.1150 in case of a breakout then a further advance towards will be possible towards the 1.1200 level.

    Further up, the next resistance lies at 1.1250 level.

    A cross through that level will clear the way to move towards the 1.1300 level. Overall, EUR / USD expects more weakness in the days to come


     
  27. Suradi

    Suradi Member

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    USD/JPY Technical Analysis

    This past week, there was a sharp decline in the US Dollar below the 106.00 support against the Japanese Yen. The USD/JPY pair even broke the 105.20 support level and traded below 105.00.

    It traded towards 104.50 and a swing low was formed near 104.45. Recently, the pair started a strong recovery and climbed above the 105.00 and 105.40 resistance levels. Moreover, there was a break above the 106.00 level and the 50 hourly simple moving average.

    [​IMG]

    However, the pair struggled to break the 106.40 level and recently corrected lower below 106.00 plus the 23.6% Fib retracement level of the last wave from the 104.45 low to 106.40 high.

    At the moment, the 105.60 level is acting as a support and the pair is showing positive signs. On the upside, there is a key bearish trend line forming with resistance near 105.90 on the hourly chart.

    If there is an upside break above 105.90 and 106.00, the pair could continue to move higher. The next key resistance is near the 106.20 and 106.40 levels.

    Conversely, if the pair fails to climb above 106.00, it could trim gains. The main support on the downside is near the 105.40 level. It represents the 50% Fib retracement level of the last wave from the 104.45 low to 106.40 high. Moreover, the 105.25 level is also a crucial support zone.

     
  28. Suradi

    Suradi Member

    Join "Forex School" - a free educational contest on demo accounts

    On September? 2, 2019 FXOpen broker launches a free educational contest on demo accounts "Forex School". Everyone can participate in the competition.

    [​IMG]

    "Forex School" is a unique possibility not only to improve your knowledge and skills in Forex trading, but also to get real money prizes. The contest will last for 4 weeks.

    Hurry up to register before September 15!


    Conditions of the contest:

    *Participation: free;
    *Dates: September 2 - September 27, 2019;
    *Registration: is already open and will last until September 15;
    *Rewards: for Top-16 traders:
    *1st place: USD 600;
    *2nd - 3rd place: USD 400;
    *4th - 16th place: USD 200;
    *Prize fund: USD 4000;
    *Initial deposit: USD 200;
    *Requirements: the initial deposit must be increased by at least 20% and the minimum quantity of trades must be 10;
    *Trading instruments (including oil and gas): 55;
    *Account type: demo (competition) ECN;
    *EAs and locking: allowed;
    *Maximum number of trades opened at the same time (including pending orders): 5;
    *Minimum volume of one order: 0.01 (lot);
    *Leverage: 1:100;
    *Margin call: 100%;
    *Stop out: 50%.

    Competition rules and restrictions:

    *One and the same participant can become a winner and receive a prize not more than once in all ForexCup contests (schools);
    *It's prohibited to provide unreliable personal information;
    *It's prohibited for one and the same trader to participate in a competition on several accounts from one IP address, as well as to use other traders' accounts;
    *It's prohibited to copy other participants' trading strategies in a competition;
    *It's prohibited for relatives to trade in one competition using one and the same IP address.
    *In case of violation of the above mentioned rules a participant will be disqualified and will lose the right to participate in the competition. Learn more…


    Important! The prize money will be added to the winner's investment account. This money can only be used to open a PAMM STP account for participation in the next contest on real accounts. Only profit from trading can be withdrawn from a PAMM STP account. It’s prohibited to close the prize PAMM account.

    How to join the contest?

    Newbies:


    *Register an account with ForexCup;
    *Join the contest using this link with the personal account data.

    Existing clients:

    *Verify your account in MyFXOpen;
    *Join the contest using this link with your FXOpen or ForexCup registration data.

    Please note that all competition accounts are blocked before the start of the contest.

    Useful links:

    Akun PAMM STP;
    Thread Sekolah Forex di Forum ForexCup;[/url
    FXOpen di Telegram.
     
  29. Suradi

    Suradi Member

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    Oil Price Technical Analysis

    There was a strong support formed near $53.20 in crude oil price against the US Dollar. The price started a steady rise and climbed above the $54.00 and $55.00 resistance levels.

    It opened the doors for more gains above the $55.50 resistance and the 50 hourly simple moving average. Finally, the price surged above $56.00 and traded to a new weekly high at $56.73.

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    At the moment, the price is consolidating losses near the $56.40 level plus the 23.6% Fib retracement level of the recent wave from the $55.29 low to $56.73 high. On the downside, there are many supports near the $56.20 and $56.00 levels.

    The 50% Fib retracement level of the recent wave from the $55.29 low to $56.73 high is also near the $56.00 level to act as a support. Moreover, there is a key bullish trend line forming with support near $55.00 on the hourly chart of XTI/USD.

    An intermediate support is near the $55.80 level and the 50 hourly simple moving average. Therefore, a downside correction from the current levels remain supported near $56.00 and $55.80.

    On the upside, a clear break above the $57.00 resistance area is likely to open the doors for more gains towards the $58.00 and $58.40 resistance levels in the near term.

    blog.fxopen.com

     
  30. Suradi

    Suradi Member

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    EUR/USD Absorbs Economic, Trade War And G-7 News

    EUR/USD made a new low last week. The pair fell to as low as 1.0963 on Friday adding to the downtrend it has been trading in since February 2018. The last time the European currency traded this low against the greenback was in May 2017

    The last few months have been characterized by new lows, low volatility and plenty of overlaps in the price structure. All these features plus our analysis of EUR/USD’s bigger time-frames made us think about one specific Elliott Wave pattern.

    [​IMG]

    At the closing of the market last weekend the bearish trend was dominating the market.

    But considering the current waveform, the price has been in wave c where the possibility of the price going back up is still quite large.

    However, the concern is the Chinese and American trade wars which sometimes make technical analysis helpless so that prices can continue the previous trend

     

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