Forexcup contest withdrawable prize

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

  1. Suradi

    Suradi Member

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    EUR/GBP Technical Analysis


    The Euro declined heavily after it found resistance near the 0.8600 area against the British Pound. The EUR/GBP pair broke a few important support near 0.8550 level before it found support near the 0.8500 area.

    A low was formed near 0.8486 before the pair started an upside correction. It broke the 0.8515 resistance level, plus the 23.6% Fib retracement level of the downward move from the 0.8595 high to 0.8486 low.

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    Moreover, there was a break above a major bearish trend line with resistance near 0.8530 on the hourly chart. The pair is now trading above the 0.8530 level and the 50 hourly simple moving average.

    An initial resistance is near the 0.8540 level since it coincides with the 50% Fib retracement level of the downward move from the 0.8595 high to 0.8486 low.

    Any further gains could lead the EUR/GBP pair towards the main 0.8580 resistance area in the near term. If the pair fails to continue above the 0.8540 resistance area, there could be a downside correction.

    On the downside, the key supports are near 0.8530 and 0.8515, below which EUR/GBP may perhaps retest the 0.8485 support.

    Read more https://www.fxopen.blog/gbp-usd-and-eur-gbp-british-pound-could-decline-further-2/

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  2. Suradi

    Suradi Member

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    XRP/USD analysis


    From Sundays high at $0.2514 the price of Ripple has depreciated by 10.67% measured to the lowest point the price has been so far which is at $0.2246. At the moment the price being traded slightly higher at around $0.2365 and is in an upward trajectory

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    On the hourly chart, you can see the since the interaction with the $0.18939 horizontal support level we have seen an exponential increase in a parabolic manner for the price of Ripple of around 34%. Considering the amount of the price increase we could have seen the completion of the five-wave move to the upside but it is still unclear which structure it belongs to.

    If we incorporate the previous move to the upside which was a minor ascending triangle we could be seeing the ABC to the upside which is corrective in nature. If this is true then the price is immediately heading for further lows and the ascending structure should be broken any time soon.

    If however, the price hasn’t ended the development of its 5th wave the currently seen upside move should push the price to surpassing the previous high.


    Read more https://www.fxopen.blog/btc-and-xrp-have-we-seen-the-end-of-the-increase//

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  3. Suradi

    Suradi Member

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    USD/CHF Technical Analysis


    The US Dollar started a steady rise from the 0.9620 support area against the Swiss franc. The USD/CHF pair followed a bullish path and traded above the 0.9650 and 0.9660 resistance levels.

    Moreover, there was a close above the 0.9660 level and the 50 hourly simple moving average. The recent rise was such that the pair even broke the 76.4% Fib retracement level of the latest decline from the 0.9698 high to 0.9660 low.

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    Therefore, there are high chances of more gains above the 0.9690 and 0.9700 levels in the near term. In the mentioned case, the pair could even test the 0.9725 area.

    The 1.618 Fib extension level of the latest decline from the 0.9698 high to 0.9660 low at 0.9722 might act as a resistance in the short term. Any further gains might lead the pair towards the 0.9750 resistance.

    On the downside, there are many supports near 0.9680 and 0.9660. Additionally, there is a key bullish trend line forming with support near the 0.9680 level on the hourly chart.

    Therefore, USD/CHF is likely to remain in an uptrend unless there is a close below the 0.9680 and 0.9660 support levels in the near term. The next key support is near the 0.9620 level.


    Read more https://www.fxopen.blog/eur-usd-struggling-while-usd-chf-could-continue-higher/

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  4. Suradi

    Suradi Member

    Win from $2,000 to $5,000 in "Money Managers", a contest for real PAMM accounts

    FXOpen and ForexCup are launching "Money Managers", a competition on real PAMM accounts, and inviting traders to take part in the competition. Become a winner of huge money prizes for a total of $10,000. The contest starts on February 3, 2020. Registration is open until March 1.

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    • Dates: February 3 - April 30, 2020;
      Registration open now until March 1, 2020;
      Prize fund: USD 10,000;

      • Rewards:

        1st place - USD 5,000;
        2nd place - USD 3,000;
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    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)).

    • Initial deposit: any amount, but not less than the minimum amount for opening a PAMM account (from USD 1,000 for PAMM ECN, from USD 200 for PAMM STP, from USD 1,000 for PAMM Crypto);
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      Drawdown from the start of the competition to the moment of crediting of the prize money (the prize is transferred within 5 working days after the end of the competition in the case of an open offer) must not exceed 20%;
      Short-term drawdown recorded at a rollover after crediting of the prize must not exceed 20%, as well as drawdown not recorded at a rollover must not exceed 25%.



    During the contest it is allowed to use only one PAMM account by one participant, add or withdraw money from accounts, receive investments to PAMM accounts, create offers, use all instruments of a PAMM system without restrictions, use any trading strategies, advisors (AEA, MEA, etc.) and any other standard MT4 add-ons and scripts.

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    The company withdraws the prize funds in case of non-compliance with the above conditions.

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    2.*Leave a link to your PAMM account in this forum 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

    Read more
    https://www.fxopen.com/en/about-us/news/win-from-$2,000-to-$5,000-in-money-managers-,-a-c[/url
     
  5. Suradi

    Suradi Member

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    Oil Price Technical Analysis


    In the past few days, there was a sharp decline in crude oil price from well above the $58.00 level against the US Dollar. The price broke many supports near the $57.20 and $56.50 levels to enter a bearish zone.

    Moreover, there was a close below the $56.00 level and the 50 hourly simple moving average. Finally, it declined below the $55.50 level and traded to a new weekly low at $54.77.

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    It is currently correcting higher above the $55.00 level. There was a break above the 23.6% Fib retracement level of the recent slide from the $58.74 high to $54.77 low.

    On the upside, there is a strong resistance forming near the $56.50 level and the 50 hourly simple moving average. Moreover, there is a key bearish trend line forming with resistance near $56.60 on the hourly chart of XTI/USD.

    The 50% Fib retracement level of the recent slide from the $58.74 high to $54.77 low is also near $56.75. Therefore, crude oil price must surpass the $56.50-$57.75 resistance area to start a decent recovery in the near term.

    If not, there is a risk of more losses below the $55.20 and $54.80 levels in the coming sessions.

    Read more https://www.fxopen.blog/gold-price-recovering-while-crude-oil-price-plunging/

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  6. Suradi

    Suradi Member

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    EURUSD Technical analysis

    For several weeks this pair tends to be bearish, this can be noticed on weekly timeframes, where several bearish candles have dominated bears.

    The next support zone is at the level of 1.09915 where this is the lowest price in November 2019, which may be achieved in the ongoing bearish trend.

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    If we refer to the indicators, we see that the RSI shows a value of 36, meaning that it is still in a bearish trend but not yet in the oversold zone, while the MA shows a downward trend.

    Also, be aware of the temporary surge in unexpected events with this week's fundamental news, trading wisely with FXOpen will make long-term trading better


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  7. Suradi

    Suradi Member

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    GBP/JPY Technical Analysis

    The British Pound started a major decline from well above the 144.00 level against the Japanese Yen. The GBP/JPY pair broke a few important supports near 143.50 level to move into a bearish zone.

    During the decline, there was a break below a key contracting triangle with support near 143.35 on the hourly chart. The pair settled below the 143.20 level and recently declined towards 142.00.

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    A low is formed near the 142.05 level. The pair is currently correcting higher above the 142.30 level. An initial resistance is near the 23.6% Fib retracement level of the recent decline from the 144.39 high to 142.05 low.

    It seems like the GBP/JPY pair might correct higher towards the 142.80 resistance area to fill the opening week gap. Any further gains could be contained by the 50% Fib retracement level of the recent decline from the 144.39 high to 142.05 low.

    Once the current correction is complete, the pair is likely to continue lower below 142.20 level in the near term.

    On the downside, the key support is near the 142.00 area. If GBP/JPY slides below the 142.00 support, there is a risk of a larger decline towards the 141.00 and 140.50 levels.

    Read more https://www.fxopen.blog/gbp-usd-and-gbp-jpy-british-pound-remains-at-risk/

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  8. Suradi

    Suradi Member

    XRP/USD analysis

    The price of Ripple has increased by 9.76% from last Friday coming from $0.214 to $0.235 at its highest point today. Currently, we have seen the momentum slowing down but the price is being traded around those levels.

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    On the hourly chart, you can see that the price came above the 1 Fibonacci level but is struggling to continue moving to the 0.786 and unlike in the case of Bitcoin is far from the prior high. As we have seen a decrease of 15.76% from the “yearly high” to Friday’s low, this increase could be a corrective one and would be the 2nd wave out of the higher degree ABC correction.

    This is presumed by the ending point of the 5th wave being at the yearly high, but it is still unclear whether or not we have seen an ABC correction of a higher degree to the upside. If we did that the price is now headed for a longer-term downtrend, but if those three waves were 123 from a five-wave impulse then the current increase would be it’s 5th wave and would lead the price of Ripple above the yearly high at $0.25435.

    Read more https://www.fxopen.blog/btc-and-xrp-is-the-increase-corrective/

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  9. Suradi

    Suradi Member

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    USD/JPY Technical Analysis

    The US Dollar declined heavily from well above the 110.00 level against the Japanese Yen. The USD/JPY pair broke many supports near the 109.65 and 109.25 levels to enter a bearish zone.

    Moreover, there was a close below the 109.50 level and the 50 hourly simple moving average. A low was formed near 108.73 and the pair is currently correcting higher.

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    It climbed above the 109.00 resistance area. Besides, there was a break above a major bearish trend line with resistance near 109.15 on the hourly chart. The pair broke the 38.2% Fib retracement level of the recent decline from the 109.64 high to 108.73 low.

    However, the pair is facing hurdles near the 109.25 and 109.30 levels. It seems like the 50% Fib retracement level of the recent decline from the 109.64 high to 108.73 low is protecting gains.

    Therefore, a clear break above the 109.25 resistance is needed for more gains. If the pair settles above 109.30, it could start a fresh increase towards the 109.65 and 109.80 levels.

    On the other hand, USD/JPY might fail to continue above the 109.25 resistance. In the stated scenario, it could resume its decline below the 109.00 and 108.80 levels in the coming sessions.

    Read more https://www.fxopen.blog/eur-usd-and-usd-jpy-could-start-decent-recovery/

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  10. Suradi

    Suradi Member

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    EOS/USD analysis

    From Monday’s open at $3.64 the price of EOS has increased by 15.5% as it came up to $4.2 at it’s highest today and is still being traded around those levels. The price is still in an upward trajectory and is indicating bullish action.

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    On the hourly chart, you can see that unlike in the case of Litecoin the price of EOS has surpassed the prior high made on the 17th of January but like Litecoin reached the horizontal resistance level close by and is currently retesting it for resistance.

    As we have most likely seen the higher degree five-wave impulse from the 17th December last year the increase is soon expected to end, but that doesn’t mean that the price is can’t continue moving to the upside for another 10% as there is still room to go to. The ending wave is most likely developing and considering that it surprised the prior high it might continue to the next horizontal level to the upside which is at $4.6 but that all depends on the current interaction with the horizontal resistance.

    Read more https://www.fxopen.blog/eur-usd-and-usd-jpy-could-start-decent-recovery/

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  11. Suradi

    Suradi Member

  12. Suradi

    Suradi Member

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    FXOpen Launches Instant Bank Transfers in Malaysia and Thailand

    Dear clients

    FXOpen is pleased to announce that we've added a new method of depositing and withdrawing funds. Clients from Malaysia and Thailand can now carry out money transactions via Instant Bank Transfers. Instant Bank Transfers are transactions made from an online bank account in a local currency.

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    Learn how to deposit and withdraw in our knowledge base.

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    Live Chat (24/5)

    Read more https://www.fxopen.com/en/about-us/news/fxopen-launches-instant-bank-transfers-in-malaysia

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  13. Suradi

    Suradi Member

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    FXOpen Accepts Payments via AirTM

    Dear Traders,

    FXOpen is glad to announce a new cutting-edge option for depositing and withdrawing funds via AirTM.

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    Follow update Facebook, Twitter dan Telegram.

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    Live Chat (24/5)

    Read more https://www.fxopen.com/en/about-us/news/fxopen-accepts-payments-via-airtm

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  14. Suradi

    Suradi Member

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    XRP/USD analysis

    From Sunday’s high at $0.26198 we have seen the price of Ripple decreasing by 5.6% as it came down to $0.24731 on the next day. The price is currently being traded slightly higher but is still around the vicinity of the yesterday’s low.

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    Looking at the hourly chart, you can see that the price of Ripple made a higher high compared to the previous one around $0.25 which could be interpreted as the 5th wave out of the five-wave move to the upside. The increase was stopped out at 0.618 Fibonacci level which makes this level as a significant resistance point and is most likely going to serve as a pivot point between a bullish scenarios in which the price of Ripple is to continue increasing from here or a bearish scenarios in which the price of Ripple could start moving to the downside as the C wave of a higher degree ended.

    This will be validated by the breakout direction from the current resistance zone between the mentioned Fib level and the $0.24730 interrupted supper level. If the price breaks out to the upside further increase could be expected above the 0.5 Fib level, but if it breaks the zone’s support we could see a retracement all the way down below $0.2/

    Read more https://www.fxopen.blog/btc-and-xrp-has-the-increase-ended/

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  15. Suradi

    Suradi Member

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    USD/CHF Technical Analysis

    The US Dollar found support near the 0.9630 level and started a fresh increase against the Swiss franc. The USD/CHF pair broke the 0.9650 and 0.9660 resistance levels to move back into a bullish zone.

    Moreover, there was a break above a connecting bearish trend line at 0.9660 on the hourly chart. The pair even settled above the 0.9680 level and the 50 hourly simple moving average.

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    It opened the doors for more gains above the 38.2% Fib retracement level of the last decline from the 0.9766 high to 0.9628 low. At the outset, the pair is following a major ascending channel with support near the 0.9692 level on the same chart.

    An immediate resistance is near the 0.9700 level, plus the 50% Fib retracement level of the last decline from the 0.9766 high to 0.9628 low.

    The main hurdle is near the 0.9715 level, above which there are chances of a strong rise in the near term. In the mentioned case, the pair could even test the 0.9750 level.

    On the downside, there are many supports near 0.9680 and 0.9660. If the USD/CHF pair fails to stay above the 0.9660 support, there is a risk of a drop towards the 0.9625 level. The next key support is near the 0.9600 area.

    Read more https://www.fxopen.blog/eur-usd-diving-while-usd-chf-is-showing-positive-signs/

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  16. Suradi

    Suradi Member

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    EOS/USD analysis


    In the case of EOS we can see a similar situation like on Litecoin’s chart, as the price continued increasing after a minor retracement since the start of the week. From Tuesday’s low at $4 the price gainer 13.72% coming to $4.6262 at it’s highest point today, around which it is still currently being traded.

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    Looking at the hourly chart, you can see that it reached a horizontal level which isn’t as significant one but could provide an early indication that the 5th wave could have ended or is near completion as the price is starting to enter the upper range.

    From December last year when the price of EOS was sitting at it’s yearly low at $2.12 we have seen an increase of 117% which is why most likely this increase is coming shortly to an end with either the first major retracement in a starting uptrend or further downtrend continuation. This will depend on the price momentum to the downside from which we are to evaluate the possibilities, but in either way further increase would be expected before this starts.

    Read more https://www.fxopen.blog/ltc-usd-and-eos-usd-further-increase-expected-but-not-for-long/

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  17. Suradi

    Suradi Member

    Oil Price Technical Analysis

    In the past few days, there was a steady decline in crude oil price below the $55.00 support level against the US Dollar. The price traded below many key supports near the $52.50 and $52.00 levels.

    It even broke the $50.00 support level and traded towards the $49.40 level. A low is formed near $49.38 and the price is currently recovering higher.

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    It surpassed the $50.50 resistance area and the 50 hourly simple moving average. Recently, it climbed above $51.50, but it struggled to gain pace above $52.25. It trimmed gains and revisited the $50.50 zone.

    A low is formed near $50.34 and the price is currently rising. It is trading above the 50% Fib retracement level of the recent decline from the $52.26 high to $50.34 low.

    However, there are many hurdles on the upside near $51.50 and $52.00. Besides, there is a key bearish trend line forming with resistance near $51.80 on the hourly chart of XTI/USD.

    The trend line is close to the 76.4% Fib retracement level of the recent decline from the $52.26 high to $50.34 low. Therefore, crude oil price must climb above the $51.80 and $52.25 resistance levels to continue higher. If not, it might retest the $50.00 support area.

    Read more https://www.fxopen.blog/gold-price-and-crude-oil-price-facing-hurdles/

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  18. Suradi

    Suradi Member

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    HOW FOREX BROKERS MAKE MONEY

    Contents

    • The Role of the Forex Broker
      A Forex Broker Business Model Explained
      Explaining How Forex Brokers Make Money
      Forex Brokers Fees – An Important Part of the Forex Broker’s Income
      Conclusion

    The brokerage industry experienced tremendous growth as the Internet penetration in our everyday lives increased at the start of the 21st century. Online trading made it possible for retail traders with small accounts to participate in the largest financial market in the world – the foreign exchange market.

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    Read more https://www.fxopen.blog/how-forex-brokers-make-money/

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  19. Suradi

    Suradi Member

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    USD/CAD Technical Analysis

    The US Dollar started a fresh increase from the 1.3150 support area against the Canadian Dollar. The USD/CAD pair broke a few important hurdles near 1.3200 and 1.3220 to enter a positive zone.

    Besides, there was a break above the 1.3250 level and the 50 hourly simple moving average. It opened the doors for more upsides above the 1.3300 resistance area.

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    The pair traded as high as 1.3320 and it is currently correcting gains. It dipped towards the 1.3280 level. A swing low is formed near 1.3290 and the pair is now approaching the 23.6% Fib retracement level of the recent decline from the 1.3320 high to 1.3290 swing low.

    On the upside, the first resistance is seen near the 1.3305 level. It coincides with the 50% Fib retracement level of the recent decline from the 1.3320 high to 1.3290 swing low.

    If the pair settled above 1.3300 and 1.3305, it is likely to continue higher towards 1.3320 and 1.3325. Any further gains may lead USD/CAD towards the 1.3350 level.

    On the downside, an immediate support is near the 1.3190 level. Moreover, there is a rising channel forming with support near 1.3285 on the hourly chart.

    If USD/CAD breaks the channel support and 1.3280, there is a risk of a downside correction towards the 1.3250 support area in the near term.


    Read more https://www.fxopen.blog/gbp-usd-in-downtrend-while-usd-cad-could-rise-again/

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  20. Suradi

    Suradi Member

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    XRP/USD technical analysis

    Ripple has decreased by 6.64% yesterday as it came from $0.2873 at it’s highest point previous day to $0.26830 at it’s lowest today. The price is still being traded around the levels of today’s low and is retesting its vicinity for support.

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    Looking at the hourly chart, you can see that the price has come above the significant horizontal level at $0.26617 last Wednesday and managed to stay there over the last week but has now come back to retest it for support. This minor retracement has been made at the intersection with the mentioned horizontal level and the lower ascending trendline which is presumed to be the support level of the ascending channel which started forming from the 24th of January.

    If the ascending channel is broken on the downside the price of Ripple will be set into a retracement of a higher degree most likely below the 0.26617 horizontal level and potentially to around the 0.786 Fibonacci one which will serve as the first support point to the downside. But if the price finds support at the 0.26617 horizontal level and interaction with the next significant one could be expected which would bring the price of Ripple close to $0.3.

    Read more https://www.fxopen.blog/btc-and-xrp-retracement-soon-expected/

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  21. Suradi

    Suradi Member

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    USD/JPY Technical Analysis

    The US Dollar rallied sharply above 109.00 this past week against the Japanese Yen. The USD/JPY pair broke many resistances near 109.25 and 109.40 to move into a positive zone.

    Moreover, there was a close above the 109.50 level and the 50 hourly simple moving average. Finally, the pair tested the 110.00 resistance area, where the bears emerged.

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    The pair started consolidating gains below 110.00 and remained well bid above 109.50. The last swing low was near 109.53 and the high was at 109.95.

    The corrected lower below the 38.2% Fib retracement level of the upward move from the 109.53 low to 109.95 high. However, the pair remained supported near the 109.75 level.

    It seems like there is a major contracting triangle forming with resistance near 109.95 on the hourly chart. If there is an upside break above the 109.95 and 110.00 levels, the pair could rise sharply in the near term.

    In the mentioned case, the pair might test the 110.50 level. Conversely, the pair could struggle to stay above the triangle support, and the 50% Fib retracement level of the upward move from the 109.53 low to 109.95 high.

    If USD/JPY slides below the 109.75 and 109.50 supports, it could start a strong downside correction towards 109.00 or even 108.80.

    Read more https://www.fxopen.blog/eur-usd-and-usd-jpy-trading-near-make-or-break-levels/

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  22. Suradi

    Suradi Member

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    EOS/USD technical analysis

    From yesterday’s open at $5.24 the price of EOS has increased by 4.52% and came up to $5.4 before it made it back down to the levels of yesterday’s open around which it is still being traded.

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    Looking at the hourly chart, you can see that the price of EOS similarly like in the case of Litecoin reached it’s significant resistance point and confirmed it by an interaction that caused a minor but a sharp downturn. We have seen an ascending range with a minor spike to the downside which could have been the end of the 5th wave for both the Minuette and the Minute count but since there hasn’t been an interaction with the ascending interrupted level or the horizontal resistance at $5.58 we might see further increase to those levels before a significant retracement starts.

    If the 5th wave has been completed the price is now set to begin the correction of a higher degree which can push the price of EOS significantly lower, but there isn’t been much indication that the move started which is why we could see further retest of the upper resistance levels before this expected downturn.

    Read more https://www.fxopen.blog/ltc-and-eos-further-room-for-growth/

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  23. Suradi

    Suradi Member

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    Win an iPad in FXOpen’s Valentine’s Day Promotion

    Dear Traders,


    FXOpen is running a Valentine’s Day Promotion exclusively for our traders. Deposit 200 USD or more (or equivalent currency) in your FXOpen eWallet until February 21 to be entered into the prize draw for the iPad giveaway.

    [​IMG]

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    Ending Date: February 21, 2020


    We wish you a happy Valentine's Day!

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  24. Suradi

    Suradi Member

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    Changes to Trading Hours on US President’s Day (February 17)

    Dear Clients,

    Please note that due to President’s Day in the US on February 17, 2020, trading hours for some financial instruments will be changed as follows:

    Forex pairs & Crypto CFDs: normal trading hours;
    Metals: trading ends at 20:00 GMT+2;
    US Crude and US Natural Gas: trading session ends at 19:45 GMT+2;
    UK Brent: normal trading hours;

    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 these changes when planning your trading activities on the upcoming week.

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  25. Suradi

    Suradi Member

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    EURUSD technical analysis

    Price movements on the EURUSD pair yesterday still form what is known as the inside bar pattern, where the price is still in the previous candle range marked higher and lower high.

    Psychologically this condition suggests that there has been a decline in seller pressure, where during the past week the bearish movement has dominated the movement, and at the beginning of the week there has been bearish pressure.

    At this point, investors are still skeptical of whether the trend will continue or a reversal pattern.

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    The next possibility is that a low break will occur if the seller pressure is still strong enough for the pair to continue moving down.

    The next scenario is that prices will be corrected in this zone, and if the next few days consolidate, a reversal trend may occur.

    Based on the stochastic indicators, we see that prices are well below the saturated area, but the trend is still down.

    While the donchian channel provided information that there has been high volatility in this EURUSD pair, it is likely that the bearish trend is still likely to return.


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  26. Suradi

    Suradi Member

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    BTC/USD analysis

    BTCUSD has rebounded after the previous day there was a decline and broke through the middle line of the Donchian channel.

    In this condition the middle channel of the Donchian channel acts as support for this pair.

    On the weekly timeframe it is seen that uptrend movements have dominated more since the beginning of this year, it seems that market participants have begun to grow in confidence with the strengthening of the digital currency bitcoin.

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    While from H1, it appears that the upward movement is quite strong and has broken the upper channel of the channel channel so that the breakout signal has been reached.

    But paying attention to the stochastic, the current price at H1 indicates overbought, so this is a concern to be more aware of the next move.

    Aggressive traders may still open long risk-taking, but conservative traders would prefer to wait for the next signal.

    But there is a difference in the stochastic signal when looking at the daily timeframe with H1, the daily is not yet in the overbought area so the possibility of the price will continue to rise is also still open.

    However, sometimes unexpected events can occur and this is anticipated by using stop losses as part of money management


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  27. Suradi

    Suradi Member

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    USD/CHF technical analysis

    Price movements in the USDCHF pair during this month are in a bullish tendency, from the monthly timeframe we see that price movements are in a certain range so that they form a parallel candle pattern.

    While at the daily timeframe we see that the price is now in the overbought zone if using stochastic as a reference.

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    However, the concern is that the resistance zone on the monthly timeframe has not been reached, so there is still a possibility that prices will still rise again.

    In addition, market sentiment is emphasizing the strength of CHF, as seen in EURCHF as a comparison.

    Meanwhile there are no signs that the SnB will intervene in the currency if the current price is considered too strong.

    The key resistance of USDCHF is at the level of 1.03260, and currently the price is still at the level of 0.98361, so even though the stochastic indicator shows overbought, it does not mean that the bullist trend is over


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  28. Suradi

    Suradi Member

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    BTCUSD technical analysis

    The current price of the BTCUSD is around 9600, with the daily candle pattern inside the bar marked by a smaller candle form than the mother candle.

    This means that the market trend has begun to weaken, if previously prices moved down and formed a bears candle, the pressure began to weaken and become an indecision candle

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    Meanwhile, by looking at the H1 timeframe we see a pattern of candles lined up after a strong decline occurs marked by one long candle which is a bearish candle.

    Stochastic on H1 has not shown oversold entry price, but there has been a crossing of the stochastic line as a sign of the current trend tends to rise.

    While the Donchian channel on H1 shows that volatility is decreasing where the upper and lower channel lines narrow.

    10,400 is the resistance number at the prevailing daily timeframe, and allows prices to move within the daily range.

    LTC and EOS analysis here

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  29. Suradi

    Suradi Member

    THE CORONAVIRUS AND ITS IMPACT ON THE FOREX MARKET

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    Financial markets struggle to understand the impact of the coronavirus moving forward. 2020 so far, has been difficult for investors as no one could price in the impact of the new virus on the Forex market.

    Studies have been written covering the correlation with other known diseases from the region – SARS, for instance. But this time, the fact that the virus spread so quickly led to many people wondering if humankind can fight it.

    So far, it did. Slowly but surely, Chinese cities come back to life. Fewer fatal cases in China and across the world led to the belief that we can fight this disease with the same weapons as before – trust in each other, hard work, and efficient use of available technology.

    The world celebrated the end of the quarantine for the people trapped on the cruiser on the coast of Japan. It symbolizes the trust to contain the virus’s spread and the know-how to find a cure as soon as possible.

    However, South Korea reported one death related to the disease. Also, Japan is fighting a slowdown in retail sales and tourist numbers that would impact its declining GDP further. Let us all recall the weak Japanese GDP for the last quarter of 2019 and the quick-declining number in Hong Kong tourist arrivals, and we have a clear picture of what the virus is doing to the region.

    The Biggest Losers – AUD and JPY

    The Australian Dollar (AUD) was the first to react to the coronavirus’ outbreak. After all, it wasn’t difficult for the markets to anticipate a slowdown in Australian exports to China or Chinese exports to Australia. Both tend to impact trade, and that first impacts the currencies.

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    It should come as no surprise for fundamental traders using the interest rate differential on the AUDUSD pair. The Fed’s federal funds rate exceeds the RBA’s cash rate, and a higher US dollar makes sense.

    But the fact that Asia is facing problem extends more than simply interpreting monetary policy differences. The JPY recent decline tells us that the world is more concerned about the regional impact than the financial markets show.

    Normally the USDJPY would rise with the stock market. Or, the JPY would decline when the stock market moves to the upside. Only this time, the JPY fell dramatically this week with little or no pullbacks. The move was especially seen on the USDJPY pair as it tends to correlate with the US stock indices.

    USDJPY Trying to Break Higher

    It is said that a currency reflects the economic strength of a country or region. While the appreciation or depreciation of a currency may come with a certain lag, it always reacts to the business cycle.

    The first thing to look for in a currency pair is the interest rate differential. In Japan, Bank of Japan (BOJ) announced it keeps the interest rate to -0.1%, while in the United States, the Federal Reserve keeps the federal funds rate at 1.75%. The difference between the two dictates the relationship between the two currencies.


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    Since Trump’s election four years ago, the USDJPY pair only consolidated. The JPY pairs found buyers due to uncertainties related to the US-China trade war or North Korean missiles.

    However, this week the pair seemed to have broken higher. There’s no doubt that the coronavirus impact on the Asian economies will first be seen in the regional currencies, and the JPY is one of them.

    Tourism dropped dramatically in Hong Kong and Japan. South Korea reports an increased number of cases. Moreover, China continues to keep people at home, extending the holiday period in the areas with a large number of cases to the middle of March.

    Eventually, all these factors will influence the regional output. If the rest of the world manages to contain the spread of the virus and the virus remains active in Asia, look for the Asian currencies to decline significantly against the Western counterparts.

    A similar move lower we’ve seen in the Australian Dollar (AUD). It literally dropped dramatically against the US Dollar (USD) and the Canadian Dollar (CAD) – two currencies that have a higher interest rate than the Aussie. If we couple this with the exposure of the Australian economy to the coronavirus regions, the AUD is set to decline some more, unless the outbreak is contained.

    Conclusion

    To sum up, all the worries with the impact the virus has on the global economy reflect the interdependency of the world’s economies. We can’t say anymore that this is a local problem like in the past, as Asia plays a crucial role in global growth.

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  30. Suradi

    Suradi Member

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    What is SWAP in forex?

    Beginners who have just begun to master or learn about forex, may not be very familiar with SWAP

    But sometimes experienced traders are not able to explain well about SWAP and how it works

    This video explains about SWAP in forex trading by FXOpen



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