Forexcup contest withdrawable prize

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

  1. Suradi

    Suradi Member

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    USD/CAD Technical Analysis

    The US Dollar remained in a positive zone above the 1.3250 and 1.3260 support levels against the Canadian Dollar. The USD/CAD pair even settled above the 1.3260 pivot level to move into a positive zone.

    Recently, there was a break above the 1.3300 resistance and the 50 hourly simple moving average. However, the pair is still struggling to break the key 1.3330 and 1.3340 resistance levels.

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    The recent high was formed near 1.3332 and the pair is currently correcting lower. It already tested the 23.6% Fib retracement level of the recent wave from the 1.3246 low to 1.3332 high.

    On the downside, there are a few key supports near the 1.3300 level and the 50 hourly simple moving average. The next major support is near the 1.3280 level. An intermediate support is near the 1.3290 level plus the 50% Fib retracement level of the recent wave from the 1.3246 low to 1.3332 high.

    Moreover, there is a connecting bullish trend line forming with support near 1.3260 on the hourly chart. Therefore, the pair is likely to find many supports, starting with 1.3300 and up to 1.3260.

    On the upside, USD/CAD must break the 1.3330 and 1.3340 resistance levels to continue higher towards the 1.3400 resistance in the coming sessions.

    blog.fxopen.com

     
  2. Suradi

    Suradi Member

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    XAGUSD analysis
    Trading instruments in the metal category have risen significantly during the past four months.
    The current price is 19,263, the highest level since this week, while the potential price trend technically for the resistance area can reach the price of 20,900 which was the previous resistance level.
    Meanwhile XAGUSD, which is one of the FXOpen tradin instruments, still tends to move up.
    This movement is quite different from gold which despite the rising trend but smaller trading volume
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  3. Suradi

    Suradi Member

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    USD/CHF Technical Analysis
    The US Dollar followed a nice bullish path from the 0.9740 support area against the Swiss franc. The USD/CHF pair broke the 0.9780 and 0.9800 resistance levels to move into a bullish zone.
    Later, it gained strength above the 0.9850 and 0.9880 levels. Moreover, there was a break above the 0.9900 level and the 50 hourly simple moving average. It traded as high as 0.9928 and recently started a downside correction.
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    There was a break below the 0.9900 support and the 50 hourly simple moving average. Moreover, the pair traded below a key bullish trend line with support near 0.9890 on the hourly chart.
    It is now trading near the 0.9860 support level and the 50% Fib retracement level of the upward move from the 0.9801 low to 0.9928 high. On the downside, there are many supports near the 0.9840 and 0.9820 levels.
    Additionally, the 61.8% Fib retracement level of the upward move from the 0.9801 low to 0.9928 high is also near the 0.9849 to act as a support. Therefore, as long as the pair is trading above 0.9840, it is likely to bounce back.
    On the upside, the key resistance is near the 0.9900 level and the 50 hourly SMA. A successful close above 0.9900 might push USD/CHF towards the 0.9940 and 0.9950 levels.
    blog.fxopen.com
     
  4. Suradi

    Suradi Member

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    EOS/USD ANALYSIS
    From last Thursday when the price of EOS was sitting at around $3 at its lowest point we’ve seen a recovery of 12.3% until Tuesday this week when the price came up $3.45 at its highest. The price is currently being traded at around $3.27 as a minor retracement occurred to the horizontal support level which was broken on the way down.
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    On the hourly chart, you can see that the price has managed to move back up above the significant horizontal level and is now retesting it for support which is why if the support is shown as present the recovery might continue. From the 25th of July, we’ve seen the price moving in a descending channel inside which this price is still hovering. Until we see a breakout to the upside from the channel’s resistance level we cannot say that a significant recovery began, but this might change soon if the price finds support at present levels.
    If the price doesn’t find support and starts moving to the downside again the next potential target for the expected decrease would be the lower horizontal support level at $2.86.
    blog.fxopen.com
     
  5. Suradi

    Suradi Member

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    Gold Price Technical Analysis
    Earlier this week, gold price resumed its upward move above the $1,540 level against the US Dollar. The price even broke the $1,555 high and traded to a new yearly high at $1,557 before starting a downside correction.
    The price declined sharply and broke the $1,540 and $1,525 support levels. The decline was such that there was a close below the $1,525 level and the 50 hourly simple moving average. A swing low was formed near $1,506 on FXOpen and the price is currently correcting losses.
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    It tested the $1,520 resistance and the 23.6% Fib retracement level of the recent decline from the $1,557 high to $1,506 low. However, the upward move seems to be capped near $1,520.
    The price is currently trading with a bearish angle below the $1,515 level. An immediate support is near the $1,510 level, below which the price could revisit the $1,505 and $1,500 support levels.
    On the upside, a break above the $1,520 resistance might start a decent recovery towards the $1,530 level. The 50% Fib retracement level of the recent decline from the $1,557 high to $1,506 low is also near $1,530 to act as a resistance.
    Overall, gold price remains at a risk of more downsides towards $1,500 as long as it is trading below the $1,520 level.
    blog.fxopen.com
     
  6. Suradi

    Suradi Member

    FXOpen announces the results of the "Money Managers" Forex Contest
    "Money Managers" - a Forex contest on real PAMM accounts - ended On August 30th, 2019.
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    In this contest there are only two winners:
    1 place: GSV gets $5000-prize from FXOpen for investments.
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    2 place: Sanyok11 gets $3000-prize from FXOpen for investments.
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    We congratulate the winners and wish them further success in trading! The money prizes will be credited to the winners' FXOpen PAMM accounts.
    Read more
     
  7. Suradi

    Suradi Member

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    GBP/JPY Technical Analysis
    The British Pound also followed a similar path and started a nasty decline from the 148.00 resistance area against the Japanese Yen. The GBP/JPY pair broke the key 142.00 and 140.00 support levels to enter a bearish zone.
    The decline was such that the pair even failed to stay above the 135.00 support zone and the 50-day simple moving average. Finally, the pair traded below 130.00 and a new multi-month low was formed at 126.47.
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    Recently, the pair started consolidating losses above the 127.00 level. However, there are many hurdles on the upside near the 131.00 level. Moreover, the 50% Fib retracement level of the last key decline from the 135.66 high to 126.47 low is also near the 131.00 level.
    Besides, there is a major bearish trend line forming with resistance near 131.00 on the daily chart. Above the trend line, the 50-day simple moving average is positioned near the 132.10 level.
    The 61.8% Fib retracement level of the last key decline from the 135.66 high to 126.47 low is also near the 132.15 level. Therefore, the pair is likely to struggle near the 131.00 and 132.00 levels.
    On the downside, if there is a break below the 127.00 support area, the GBP/JPY pair could continue to decline towards the 125.00 and 124.40 support levels.
    blog.fxopen.com
     
  8. Suradi

    Suradi Member

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    XRP/USD
    The price of Ripple has been stuck in a horizontal range from $0.24730 with its median line being the Monday’s low at $0.25393 and its resistance level being at $0.26617. From last Monday’s low which was an interaction with the median level we’ve seen an increase to its resistance level but another minor retracement after the interaction ended as rejection with the price currently sitting at around $0.26.
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    On the hourly chart, we can see that from the yearly high at around $0.5 the price of Ripple has been nothing but decreasing and has depreciated in value by slightly over 50% coming below the most significant horizontal support level at $0.29405 when it was also stuck in a horizontal range and continued to breakout to the downside. Will the same pattern develop and we are to see further downtrend continuation it is still unclear but the current horizontal range could be interpreted as a consolidative one from which recovery is to take place. A breakout from either side is going to dictate the longer-term trend development which is why the horizontal range outline levels are serving as pivot points.
    blog.fxopen.com
     
  9. Suradi

    Suradi Member

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    Deposit with No Commission via Any Payment System
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    FXOpen broker has good news for traders. The Summer promotion "Hot Summer 2019" is extended for an indefinite period.
    Starting from September 9, 2019, all FXOpen clients will be able to deposit their accounts via any payment system available (except for Bank Wire Transfer) without the cost of fees charged by the payment systems, which usually range from 0.5 to 6% of the deposit amount.
    So, you can save money that can be profitably used for trading or investing in Forex. Fund your accounts with no commission with FXOpen!
    Follow our updates on Facebook, Twitter and Telegram.
    FXOpen Customer Service
    E-mail:support@fxopen.com
    Live Chat (24/5)
     
  10. Suradi

    Suradi Member

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    EOS/USD Analysis
    The price of EOS has been recovering from Saturday when it came up from $3.19 at its lowest to $3.666 at its highest which was an increase of 14.6%. The price continued increasing until Monday and reached $3.966 at its highest spike when a retracement started. Currently, the price is being traded at $3.697 which is slightly higher from yesterday’s low which could indicate another uptrend continuation, but the price might continue its retracement further.
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    Looking at the hourly chart we can see that on Saturday the price broke out from its significant resistance which was the upper level of the descending channel in which the price has been decreasing from the 27th of July. If we are seeing the start of the recovery the price action should develop in a five-wave manner which is why another increase might occur soon. If the price increase continues the likely ending point for the 5th wave could be around the intersection of the horizontal resistance level at $4.16 and the ascending interrupted trendline to $4.3
    However, the price could have ended it three-wave corrective increase which would be the 3rd wave out of the upward correction from the ending point of the Y wave of the previous three-wave WXY correction from the yearly high. If the price decreases below $3.44 which would mean that it has entered the territory of the 2nd wave.
    blog.fxopen.com
     
  11. Suradi

    Suradi Member

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    NZD/USD Technical Analysis
    The New Zealand Dollar also followed a similar pattern and declined below the 0.6600 and 0.6550 support levels against the US Dollar. The NZD/USD pair even traded below the 0.6400 support level to enter a prolonged downtrend.
    Moreover, there was a break below 0.6350 pivot level and the pair settled well below the 50-day simple moving average. A new multi-month low was formed near 0.6268 and the pair recently stared a short term upside correction.
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    An immediate resistance on the upside is near the 0.6400 level and the 23.6% Fibonacci retracement level of the last major decline from the 0.6790 high to 0.6268 swing low.
    However, the main resistance on the upside is near the 0.6500 level (the previous support area). Moreover, it coincides with the 38.2% Fibonacci retracement level of the last major decline from the 0.6790 high to 0.6268 swing low.
    Therefore, an upside correction from the current levels could face a lot of hurdles near 0.6400 and 0.6500. A successful close above 0.6500 could start a solid recovery towards the 0.6700 resistance.
    On the downside, the recent low near the 0.6270 level is a decent support, below which NZD/USD might decline towards the 0.6200 and 0.6150 support levels.
    blog.fxopen.com
     
  12. Suradi

    Suradi Member

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    [FONT=&amp]The demo contest for cryptocurrencies fans "The Lord of the Crypto" ended on September 6. For four weeks, more than 600 participants were deeply involved in the competition for the prize money of 3,000 USD.
    [/FONT]

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    So, we have received the results of the contest and present top 10 winners to you:
    [/FONT]

    1. trCat (Ukraine): account number – 3041121; balance – $27; prize – $525 выводные + $525 as a bonus;
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  13. Suradi

    Suradi Member

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    EUR/GBP Technical Analysis
    The Euro started a downside correction from well above the 0.9050 level against the British Pound. The EUR/GBP pair broke the key 0.9000 support level to enter to start the downside correction.
    During the decline, the pair broke the 0.8940 support and the 50 hourly simple moving average. More importantly, the pair broke the 0.8900 support level and traded to a new monthly low near the 0.8851 level.
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    The pair is currently correcting higher and is trading near the 23.6% Fib retracement level of the recent decline from the 0.8974 high to 0.8851 low. However, there is a strong resistance forming on the upside near the 0.8900 and 0.8910 levels.
    The 50% Fib retracement level of the recent decline from the 0.8974 high to 0.8851 low is also near the 0.8910 level to stop the recovery in the near term.
    Moreover, there is a connecting bearish trend line forming with resistance near 0.8960 on the hourly chart. Therefore, upsides are likely to face hurdles near the 0.8900, 0.8905 and 0.8910 levels. Any further gains could push the pair towards the 0.8950 and 0.8960 resistance levels.
    On the downside, an immediate support is near the 0.8850 level, below which EUR/GBP could extend its decline towards the 0.8820 and 0.8800 support levels in the coming sessions.
     
  14. Suradi

    Suradi Member

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    XRP/USD analysis
    From yesterday’s low at $0.2576 the price of Ripple has increased by 6.73% as it’s currently being traded at $0.27495 and is in an upward trajectory. Last week the price of Ripple has been stuck in a horizontal range between the horizontal resistance at $0.26617 and the 0.2526 support but today we’ve seen a breakout to the upside.
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    On the hourly chart, you can see that the momentum behind the increase looks strong and with the price breaking its significant horizontal resistance. The price increase is likely to continue for a bit more until it reaches its upper horizontal resistance around the $0.27843 or the next one at $0.29405. After the increase ends I would be expecting a retracement back to the broken horizontal resistance as a retest of support and if the price manages to hold above it, it could indicate the start of the recovery. But if the price fails to hold above it and instead enters the lower range it would more likely mean that the increase seen was corrective and that the downtrend would continue for another lower low before a recovery can be made.
    blog.fxopen.com
     
  15. Suradi

    Suradi Member

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    USD/CHF Technical Analysis
    The US Dollar started a nice upward move from the 0.9850 support area against the Swiss franc. The USD/CHF pair broke the 0.9880 and 0.9900 resistance levels to move into a bullish zone.
    Moreover, the pair settled above the 0.9900 level and the 50 hourly simple moving average. It traded as high as 0.9968 and recently started a downside correction. It tested the 0.9920 level and it is currently trading in a range.
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    On the upside, there is a strong resistance forming near the 0.9940 and 0.9950 levels. The 50% Fib retracement level of the last decline from the 0.9968 high to 0.9920 low is also near 0.9945.
    If there is an upside break above 0.9940 and 0.9950 resistance levels, the price could jump towards the 0.9980 and 1.0000 levels. An immediate resistance could be 0.9960 or the 76.4% Fib retracement level of the last decline from the 0.9968 high to 0.9920 low.
    On the downside, there are many supports above the 0.9920 level. Additionally, there are two bullish trend lines forming with support near 0.9920-0.9930 on the hourly chart.
    If there is a downside break below both trend lines, the pair might even break the 0.9920 support. The next major support is near the 0.9900, below which USD/CHF could continue to decline towards the 0.9850 support area in the near term.
    blog.fxopen.com
     
  16. Suradi

    Suradi Member

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    EOS/USD technical analysis
    The price of EOS has been increasing since Monday but the increase was a minor one as the price came up only by 5.89% from Monday’s low at $3.98 until Tuesday when it came up to $4.21 at its highest point. From Tuesday we have seen a decrease of 8.43% measured to the current level on which the price is being traded which is at $3.86.
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    On the hourly chart, we can see that since the start of September the price has been moving to the upside and broke out from the descending channel. The price increase in a five-wave manner which is the first sign of impulsiveness but as the 5th wave ended we are now seeing the first retracement starting to develop to the downside. If this is the start of the higher degree recovery the price could now come down to the Septembers low and retest the $3.27 level before continuing its upward trajectory but it could very well find support on a higher level.
    If the price finds support above the $3.27 level and starts moving the upside again in an impulsive manner the possibility of the starting recovery would be higher. But if the price continues moving below the level and enters a lower range the price decrease is likely to continue.
    blog.fxopen.com
     
  17. Suradi

    Suradi Member

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    Oil Price Technical Analysis
    This week, crude oil price opened with a strong upward move and a gap above the $60.00 level against the US Dollar. The price surged above the $62.00 level and traded close to the $63.00 level.

    A high was formed near $63.04 and the price recently started a downside correction. It broke the $61.20 and $60.00 support levels. Moreover, there was a break below the 50% Fib retracement level of the last major move from the $53.92 low to $63.04 high.

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    The price even traded below the 50 hourly simple moving average and tested the $58.00 support area. It seems like the 61.8% Fib retracement level of the last major move from the $53.92 low to $63.04 high is acting as a support.
    The price is currently consolidating above the $58.00 level and the 50 hourly simple moving average. On the upside, there is a strong resistance forming near the $60.00 level.

    There is also a key bearish trend line forming with resistance near $59.20 on the hourly chart of XTI/USD. Therefore, a break above the $59.00 and $59.20 resistance levels is needed for a fresh increase above the $60.00 resistance.
    Conversely, the bears might push the price further lower below $58.00 to close the opening week gap. The next key supports are near the $56.00 and $55.50 levels.

    blog.fxopen.com

     
  18. Suradi

    Suradi Member

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    USD/CAD Canadian Dollar analysis

    On Wednesday this week, Canada releases inflation data for August.
    Although the Ministry of Finance data is in line with expectations at -0.1%, the number of annual headlines at 1.9% vs. 2.0% is expected.
    In addition, the Core Inflation Rate (Annual) is at 1.9% vs. 2.2% expected!
    Retail sales data is released for July. MoM headline numbers are weaker at 0.4% vs 0.6%.

    Even more alarming, however, is that the Ex-Auto MoM Retail Sales for July stood at -0.1% vs 0.3%.
    There's no point in that the June figure was revised from 0.9% to 0.5%, which could explain today's huge loss, but that only means that data slowed down even earlier in July!
    In a Bank of Canada statement from their September 4 meeting, Central Bank Governor Stephen Poloz stated that "the current level of monetary policy stimulus remains appropriate".
    Note that at this meeting the Banks did not project their projections for inflation and growth.

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    However, the projections will be presented at the 30 October meeting (this projection is carried out four times a year).
    At the September 4 meeting, the Board of Commissioners left the interest rate unchanged at 1.75% as expected.

    October 30th is still far away, and we will see CPI data and Retail Sales data again during October.
    Banks also now have to wrestle with how to deal with the effects of erratic oil prices that can play a role in their decisions, as well as the possibility of voting on USMCA.
    But one must begin to consider that with the latest data, lower prices may be ahead for Canada.

     
  19. Suradi

    Suradi Member

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    USD/CAD Technical Analysis

    The US Dollar climbed higher nicely from the 1.3120 support area against the Canadian Dollar. The USD/CAD pair broke the 1.3200 and 1.3220 resistance levels to move into a positive zone.
    The pair even surpassed the 1.3280 level and the 50 hourly simple moving average. However, the pair faced a strong resistance near the 1.3300 area. The recent swing high was formed near 1.3300 and the pair declined below the 1.3280 level.

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    A low was formed near 1.3252 and the pair is currently correcting higher. It broke the 23.6% Fib retracement level of the last slide from the 1.3300 high to 1.3252 low.
    At the moment, the pair is testing the 1.3275 resistance, plus the 50% Fib retracement level of the last slide from the 1.3300 high to 1.3252 low. Moreover, there is a major contracting triangle forming with resistance near 1.3300 on the hourly chart.

    On the upside, the main resistance is near the 1.3300 level. A convincing break above the 1.3300 resistance will most likely open the doors for another rise towards the 1.3400 level in the near term.
    On the downside, there are many important supports near the 1.3250 and 1.3230 levels. A daily close below the 1.3230 support area might push USD/CAD in a bearish zone. The next key support is near the 1.3180 level

    blog.fxopen.com

     
  20. Suradi

    Suradi Member

    "Money Managers" - a contest on real PAMM accounts with $10 000 prize fund

    FXOpen broker invites traders to take part in "Money Managers", a contest on real PAMM accounts, and get huge money prizes for a total of 10,000 USD. The competition starts on September 30. Registration is open till November 1.

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    Conditions of the contest

    Dates:: September 30 - December 27, 2019;
    Registration is already open and will last until November 1;
    Prize fund: USD 10,000;

    Rewards*:

    1st place - USD 5,000;
    2nd place - USD 3,000;
    3rd place - USD 2,000.
    Initial deposit
    : any amount, but not less than the minimum amount for opening a PAMM account (for PAMM ECN - from USD 1,000, for PAMM STP - from USD 200);
    Minimum trading period: not less than 2 months;
    Minimum amount of trades per week: 2;
    Trading volume: not less than 0.5 lot per stage;
    Profit at the end of the contest: at least 20% of the deposit;
    Drawdown during the contest must not exceed 20%**, and short-term drawdown of 25% and more, even if it was not recorded at a rollover will be considered as a loss and a cause for withdrawing the prize.

    Note! The winners of previous contests on real PAMM accounts "Heroes of PAMM" and "Forex Managers" who have made a drawdown of more than 30% are not allowed to participate in the competition.

    During the contest, participants are allowed add or withdraw money from their accounts, receive investments to their PAMM accounts, create offers, use all instruments of a PAMM system with no restrictions, use any trading strategies, advisors (AEA, MEA, etc.) and any other standard MT4 add-ons and scripts.

    It is prohibited to close for investors such statistics of your PAMM account as equity, drawdown, exposure level, completed trades. This data must be available for viewing.
    * The prize will be added to an investment account according to 50/50 offer (50% of the profit goes to the manager, 50% - to the investor (company)).
    ** The company withdraws the funds in case the drawdown exceeds 20%.


    The rating will be published in the contest thread weekly. You can watch the activity of each account online by clicking the links. All statistics will be taken from PAMM Account Rating.

    How to join the contest?
    If you don't have a PAMM account, you should open it:

    *Register your account with FXOpen (if you already have a PAMM account, which had the drawdown less than 20%, turn to the 2nd step);
    *Verify your main account;
    *Open an investment account and add funds to it with any payment system in your FXOpen account
    *Open PAMM ECN or PAMM STP account.
    *Leave a link to your PAMM account in this thread (you can also leave a link to your existing PAMM account with the drawdown less than 20%).

    Useful links:
    PAMM STP accounts;
    PAMM ECN accounts;
    How to create Master Offer;
    "Money Managers" thread in ForexCup forum.[/url
     
  21. Suradi

    Suradi Member

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    USD/JPY Technical Analysis

    In the past few days, the US Dollar declined steadily from the 108.40 resistance against the Japanese Yen. The USD/JPY pair broke the 108.00 and 107.50 support levels to move into a bearish zone.
    Moreover, there was a close below the 107.50 level and the 50 hourly simple moving average. The pair traded as low as 106.95 and it recently started an upside correction.

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    There was a break above the 107.20 level and the 38.2% Fib retracement level of the last decline from the 107.78 high to 106.95 low. However, the pair is approaching a couple of important resistances near the 107.40 level.

    The 50% Fib retracement level of the last decline from the 107.78 high to 106.95 low is also near 107.37 to act as a resistance. Additionally, there is a key bearish trend line forming with resistance near 107.50 on the hourly chart.
    If there is an upside break above 107.40 and 107.50, the pair could start a fresh increase towards the 108.00 level.

    Conversely, if the pair fails to climb above 107.50, it could resume its decline below the 107.00 support.

    read more at blog.fxopen.com

     
  22. Suradi

    Suradi Member

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    WHAT IS A DEMO ACCOUNT IN FOREX TRADING?

    Trading in the international currency markets has a reputation for being risky, but it is just different from other markets. In FOREX trading leverage or borrowed money, is almost always used. A demo account will help traders to learn how to use leverage, without facing losses during the learning process.
    Traders who have been successful in other markets may be used to using some amount of margin, but using leverage is different. Some but not all FOREX brokers offer a demo account to new clients, and trading with one is a very good idea.

    The idea behind a demo account is simple: a broker will create an account on their platform which is credited with money that does not exist in the real world. You will be able to trade on their platform as though you had a real account, but instead of winning or losing real, fiat, currency, your demo account will just be for practice.

    How Does a Demo Account Work?

    Trading strategies like ‘buy and hold’ aren’t going to work as well in the world of leveraged trading. A demo account will give fresh, perhaps inexperienced, traders who are learning leveraged trading to try out strategies without putting any money at risk.
    When a broker opens a demo account for you, an account that is identical to a real account will be created and funded with fake money. You will be able to trade with the actual server and trading platform that the broker uses, but there won’t be any gains or losses recorded in actual currency.

    A Demo Account Has Benefits for FOREX Traders

    A demo trading account on a currency, or CFD, trading platform is a great learning tool. Most people don’t have a lot of experience with professional trading platforms or using leverage in their trading. There are a lot of new things to learn when trading the global markets and a demo account make that process a lot easier.
    In addition to learning new tools, many traders find that using trading strategies in the FOREX or commodity markets is more profitable than in unleveraged trading. It is very easy to work with trading strategies using a demo account, and become accustomed to how trading with leverage differs from trading in a cash market.

    How Can I Use a Demo Trading Account?

    Most FOREX brokers will prominently display the option to try out a demo account with their company. Every FOREX broker will be different, but most will require that you supply some personal information, as well as an email address.

    Once you supply all the information that the FOREX broker requires, you will be sent information about how to log on to the FOREX broker’s server. You may also need to download a trading platform, although some FOREX brokers will have an online trading interface that you can trade with, most will use one of the established platforms discussed below.
    Trading Platforms for a Demo Account: MT4 or MT5?
    The two most common trading platform that CFD, as well as currency market, brokers use will be MT4 and the other one, with a very similar name, is MT5. Both are very alike, and most demo trading accounts will allow traders to use one, the other, or both.

    If we look at MT4, and also at MT5, both offer the ability to use limit orders, as well as numerous other features. MT4 has been the industry-standard trading platform for more than 15 years, and there are many third-party programs that work with it.

    It is important to make sure that your broker allows the use of trading software, as some brokers don’t want their clients using automated trading software(bots). There are also a host of analytical tools that work with both MT4 and MT5, some of which are available online for free!

    Using MT4 or MT5 without having to risk real money is another big benefit of FOREX trading demo account. They are great platforms to use but will take a little while to get used to trading with.

    Conclusion

    It is a good idea to choose a FOREX broker that offers a demo account. FXOpen Broker offers free demo accounts for new traders, and also has account options for traders who just want to try the FOREX market out. Instead of having to come up with thousands of US dollars to open an account, FXOpen broker has accounts that can be opened with just $1 USD.

    FXOpen broker also has full-ECN accounts that can be opened with just $100 USD, and offer raw spreads of as low as 1.5 pips. If you want to learn more about what FXOpen broker can do for its clients, or how to open a demo account, just click here for more information about one of the best FX brokers out there!

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  23. Suradi

    Suradi Member

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    PMI INDEX: WHY ECONOMISTS ARE FOND OF PURCHASING MANAGERS
    PMI is one of the most powerful economic indicators that are useful to investors. Its signals give an idea of the further GDP movement, and, accordingly, draw conclusions about the dynamics of exchange rates and the stock market.
    Purchasing Managers Index – a finger on the economy pulse
    The index of business activity in the manufacturing sector (also known as the Purchasing Managers Index, abbreviated PMI) is one of the oldest tools for assessing the economy. It began to be calculated at the request of U.S. President Herbert Hoover in 1931. Hoover sought to pull the country’s economy out of the collapse of the Great Depression, but he suffered from a lack of reliable information about what was happening at the enterprises, on the “ground”.
    The National Association of Purchasing Managers (now ISM, The Institute for Supply Management) began to collect information, interviewing suppliers of industrial enterprises. The idea turned out to be productive. After all, supply managers are simply obliged to keep abreast of production activity: they must provide production with everything necessary as soon as the volume of external orders increases and, conversely, reduce purchases if the number of new orders decreases.
    ISM PMI has been calculated monthly since 1931 (the break was only for four years during World War II). In the 1990s, this indicator began to be actively used by other countries. Together with ISM, the second reputable PMI provider is the Markit Group. PMI is calculated in many countries of the world (sometimes by several organizations at the same time).
    Although Americans continue to focus on manufacturing PMI, over time, index calculations for non-industrial sectors and a final indicator calculated from these two sub-indices have been added to it. Sometimes the PMI of individual industries, such as construction, can be useful. Since usually industrial versions of the index are published on the first day of the next month, this allows you to quickly assess the prospects of the economy not only in the largest countries of the world, but also in the global economy as a whole.
    What is PMI talking about?
    The value of the general index of 50 and higher indicates economic growth, while smaller ones indicate a decrease. However, this is not a signal of a recession, but only a signal of danger. A recession occurs when the index for several consecutive months shows values between 40 and 45 points.
    Not only the general index may be interesting, but also its components and the results of the answer to additional questions. Investors in the bond market can, for example, separately note the increase in purchase prices – it indicates the acceleration of industrial and consumer inflation. Inflation is the enemy of bondholders, as it eats up some of the income from their investments.
    How is PMI calculated?
    Let’s consider classic manufacturing PMI. ISM interviews managers of 300 industrial companies in several areas:
    *new orders from consumers;
    *volumes of finished products;
    *hiring new employees;
    *speed of delivery of orders by suppliers (lateness);
    *stock levels.
    These five questions are used to calculate the index. Five more are added to them – to create an overall picture, the answers to them are analysed in the report:
    *customer inventory level (assumptions made from communicating with suppliers);
    *dynamics of purchase prices;
    *volume of outstanding orders;
    *dynamics of new export orders;
    *import situation.
    Managers do not have to give specific numbers. The “diffuse” index, that is, does not evaluate the absolute level, but the dynamics in the last month: for each question, the manager only needs to indicate the direction in which the situation has changed (growth, decrease or without change).
    Suppose 40 managers out of 258 responded that the situation with new orders has improved, 170 indicated “no change” and 48 reported a decrease in the volume of new orders. Researchers consider the number of “positive” answers as a real share of the total number of answers, the share of “no change” answers are divided by 2, and the deterioration is generally ignored. Let’s total up new orders: 40/258 + (170/258) / 2 = 15.5 + 32.9 = 48.4.
    The general index is calculated as a weighted average, where new orders have the maximum weight (30%), inventory levels have minimum (10%).
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  24. Suradi

    Suradi Member

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    HOW TO TRADE FOREX USING ECONOMIC CALENDAR

    The economic calendar is one of the most important tools for any forex trader. Learning how to use economic calendar is completely necessary for anyone who wants to trade in the forex or derivatives market.

    At its core, the economic calendar is a list of economic events that will likely affect the price action in the world’s biggest financial markets. Data drives price action, so paying attention to important economic events isn’t optional.

    Once a trader learns how to read economic calendar, keeping clear of wild price swings in the forex market will be much easier. The forex news calendar is simple to understand, and totally free to access.

    What is the Economic Calendar?

    There are numerous events that move global markets. Some of them are unexpected, but many are scheduled well in advance.

    The forex economic calendar gives traders a list of all the secluded economic events that can move markets, graded by how likely they are to have an impact. The economic calendar is created with the event, the time of release (generally given in UTC) as well as a grade of the importance of the information.

    While reading an economic calendar isn’t a guarantee of trading success, ignoring it isn’t a smart move for traders who want to make money in the forex markets.

    The events on an economic calendar are usually divided into three categories, based on how likely they are to move the forex markets. Most economic calendars have green, yellow, and red events, with red being the most likely to create big market moves.

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    It is important to know what events will be moving markets in the days and weeks ahead, and an economic calendar gives traders all that information in an easy to understand format. Instead of having to sift through information that has already been digested by another person, the forex economic calendar makes it easy to spot important moments in the markets.

    Why is the Economic Calendar so Important?

    There is no denying that data moves financial markets.

    Some of the events on the economic news calendar can make the markets whipsaw, which is why professional traders have strategies with the volatility that generally accompanies big events like the US nonfarm payroll report.

    Failing to understand the events on the economic news calendar isn’t an option for a trader, because the events on the forex news calendar can have such an outsized effect on the global markets. If there is a GDP report from a major economy or inflation data, traders need to know what is happening.

    Even if a single trader doesn’t think a specific event will have a big effect on the markets, other traders might push the price of a currency pair around during important economic events. The best way to stay informed is an economic calendar.

    Indicators Used with the Economic Calendar

    An economic calendar is a set of many important indicators that are required to make an informed trading decision:

    *Personal Income & Outlays Reports;
    *Producer Price Index (PPI);
    *Productivity report;
    *Purchasing Manager Index (PMI);
    *Inflation rates;
    *Central bank meetings;
    *Gross domestic product (GDP);
    *Labor market statistics (including Nonfarm payrolls or NFP).

    Benefits of Using a Forex Economic Calendar

    Once a trader learns how to trade forex using economic calendar, they are far more likely to be ready for major economic events. Many professional traders won’t take on big positions around sensitive economic news, as the risk of getting washed-out of a position is high.

    It is easy to see the kind of market action that a US Fed rate decision drives, which is why it is important to watch a forex economic calendar for important events. Using an economic news calendar to time trades is a good idea, and can keep your positions from being swept up in wild market swings.

    Trading Tips Economic Calendar

    Numerous market strategists use a trading tips economic calendar to time the advice they give to their clients. Instead of opening a position at any given time, a trading tips economic calendar offers advice on market direction, and when the optimum time to open a position may be.

    FXOpen Broker is a Solid Partner

    Unlike most forex brokers, FXOpen Broker was started as an educational platform for forex traders. Learning about how to use an economic calendar is much easier when you deal with a broker like FXOpen broker.

    In addition to great educational resources, FXOpen Broker offers a range of account types that can be opened with as little as $100 USD. It also offers full ECN accounts for more advanced traders, which feature industry-leading spreads.

    If you want to learn more about all the account types and educational resources that FXOpen Broker has available, please click here. Working with a trustworthy counterparty is one of the most important parts of any trade, and FXOpen Broker clearly fits the bill.

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  25. Suradi

    Suradi Member

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    EUR/GBP Technical Analysis

    The Euro started a solid upward move from the 0.8800 support area against the British Pound. The EUR/GBP pair broke the key 0.8840 and 0.8850 resistance levels to move into a positive zone.

    Moreover, there was a break above the 0.8875 resistance and the 50 hourly simple moving average. Finally, the pair tested the 0.8900 resistance area and a swing high was formed near 0.8904.

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    The pair is currently correcting gains, with an immediate support near the 0.8890 level. It represents the 23.6% Fib retracement level of the recent wave from the 0.8846 low to 0.8904 high. Below 0.8890, there are many supports waiting above the 0.8850 level.

    The main support is forming near 0.8875 and a bullish trend line on the hourly chart. Moreover, the 50% Fib retracement level of the recent wave from the 0.8846 low to 0.8904 high is also near 0.8875.

    Therefore, a downside correction towards the 0.8875 level might find a strong buying interest. The next key support is near 0.8840 and another bullish trend line on the same chart.

    On the upside, EUR/GBP is facing hurdles near 0.8900. If there is a clear break above the 0.8900 and 0.8905 resistance levels, the pair could accelerate gains towards the 0.8925 and 0.8935 levels in the near term.


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  26. Suradi

    Suradi Member

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    BTC AND XRP – RECOVERY SEEN BUT IT COULD STILL BE CORRECTIVE

    XRP/USD Analysis

    The price of Ripple has decreased by 30.19% from the 18th of September when it spiked to it’s highest at $0.32504 measured to the last Tuesday’s low at $0.22725. From there we’ve seen a recovery starting to develop with the price reaching around $0.26138 today which is a recovery of 14.72%.

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  27. Suradi

    Suradi Member

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    USD/CHF Technical Analysis

    The US Dollar followed a solid bullish path and even broke the 1.0000 resistance against the Swiss franc. However, the USD/CHF pair failed to stay above the 1.0000 level and topped near the 1.0016 level.

    Recently, there was a sharp decline below the 1.0000 support area and the 50 hourly simple moving average. During the decline, there was a break below the 50% Fib retracement level of the last wave from the 0.9898 low to 1.0016 high.

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  28. Suradi

    Suradi Member

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    EOS/USD Analysis

    The price of EOS has increased from Monday’s low at $2.7336 to $3.1335 on the next day which was an increase of 14.73% but from there decreased again and is currently being traded at $2.9584.

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  29. Suradi

    Suradi Member

    GOLD PRICE CLIMBING WHILE CRUDE OIL DECLINING STEADILY



    Oil Price Technical Analysis

    This week, crude oil price followed a bearish path and settled below the $55.00 support area against the US Dollar. The price even gained pace below the $55.00 support and traded below the $54.00 support.

    Moreover, there was a close below the $54.00 support and the 50 hourly simple moving average. It even traded below the $52.50 support and a low was formed recently near $52.07.

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  30. Suradi

    Suradi Member

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    STOCK INDICES: HOW TO USE INVESTOR SENTIMENT


    On today’s exchange, indices are almost almighty: they are used to instantly assess the market situation and predict the results of trading in the future, they evaluate the managers’ skills and invest in them.

    Why do we need indices?

    On Friday, January 12, 2018, the price of Alrosa shares on the Moscow Exchange fell by 0.6%, Sberbank shares went down by 0.2%. On the same day, shares of Inter RAO UES increased by 0.9%, NLMK – by 2.1%, and LUKOIL securities soared by almost 6%. Was it a good day for the Russian stock exchange or not? Even if you look at a table of 50 main stocks, where the decline is highlighted in red and the growth in green, it is difficult to confidently say something. Well, the red color prevails. Although one “green” LUKOIL easily outweighs thirty “red” Sberbanks. Or?

    To be able to answer this question, Charles Dow, a journalist, and Edward Jones, a statistician, came up with the use of indices back in the century before last.


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