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Marketplace => Marketplace & Bitcoin Services => Advertise Your Stuff => Topic started by: FXOpen Trader on October 19, 2021, 08:20:00 PM

Title: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 19, 2021, 08:20:00 PM
GBP/USD Eyes More Upsides, USD/CAD Faces Hurdles

(https://i.postimg.cc/m2fZSK8Y/GBPUSD-Sterling-1.jpg)

GBP/USD started a fresh increase from the 1.3400 support zone. USD/CAD is declining, and it is facing resistance near 1.2400.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After a major decline, the British Pound found support above 1.2400 against the US Dollar. GBP/USD traded as low as 1.3410 and recently started an upside correction.

The pair broke the 1.3500 resistance to move into a positive zone. There was a break above the 50% Fib retracement level of the downward move from the 1.3907 swing high to 1.3410 low. It is now trading above the 1.3650 level and the 50 hourly simple moving average.

GBP/USD Hourly Chart
(https://i.postimg.cc/BZ1QHJcZ/GBPUSD-Chart-2x.jpg)

GBP/USD is now consolidating above the 1.3680 level. The pair is also trading above the 61.8% Fib retracement level of the downward move from the 1.3907 swing high (formed on FXOpen) to 1.3410 low.

An immediate resistance is near the 1.3770 level. The first major resistance is near the 1.3800 level. If there is an upside break above the 1.3800 zone, the pair could rise towards 1.3900. The next key resistance could be 1.3920, above which the pair could gain strength.

On the downside, the first key support is near the 1.3680 area. There is also a key bullish trend line forming with support near 1.3690 on the hourly chart of GBP/USD.

If there is a break below 1.3680, the pair could decline extend its decline. The next key support is near the 1.3620 level. Any more losses might call for a test of the 1.3550 support.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 19, 2021, 08:21:31 PM
Bitcoin Trades Back Above $60,000, Eyes New Record Highs

(https://i.postimg.cc/44rnk1Xg/dcx1.jpg)

Cryptocurrency traders and investors are cheering the recent bitcoin rally. The leading cryptocurrency is trading back above $60,000, coming close to a new all-time high.

The most recent data related to the crypto market size explains why bitcoin has attracted so many buyers in the latest months. The global crypto market size keeps growing, with more and more people shifting their gaze to crypto assets. In a single month, from May to June 2021, the crypto market added 18 million new users. Because bitcoin is the most popular coin, it is likely that the new funds injected into the crypto space went to it.

(https://i.postimg.cc/HWJjhNDz/btcx.jpg)

Bullish Developments in the Crypto Space

Besides the increased popularity in the cryptocurrency space, as suggested by the rising number of crypto users, some other recent bitcoin-related events can be characterized as bullish.

One comes from the Security and Exchange Commission (SEC). It is poised to approve the first-ever bitcoin ETF, which would open the space to a much wider investors base. This news alone was largely responsible for bitcoin’s recent rally. An ETF is an exchange-traded fund that tracks the price movements of its underlying – in this case, bitcoin. Investors favor ETFs due to them being a cost-efficient way of trading expensive assets.

Another such driver is the Bank of America’s decision to introduce coverage of digital assets as the cryptocurrency market reached $2 trillion in market value.

The recent developments triggered enthusiasm among crypto traders, and so the crypto market continues to rise. In the meantime, bitcoin has surpassed Facebook in terms of market value and is on track to take the silver.

Bitcoin traded close to $65,000 back in April this year, and it corrected after Elon Musk, the CEO of Tesla, suggested that the digital asset is too expensive. The current upwards movement also helps Tesla, as the company holds more than $1 billion worth of bitcoins on its balance sheet.

FXOpen Blog
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 19, 2021, 08:24:32 PM
BTCUSD and XRPUSD Technical Analysis – 19th OCT, 2021

(https://i.postimg.cc/nzCSk4wR/btcoptx.jpg)

BTCUSD: Bitcoin Rally Towards $65k Confirmed

Bitcoin continues to consolidate its gains and has touched a 6-month high of $62,965 in the Asian trading session. Since the price of BTC has already crossed its major resistance levels of $62,232 today, we may see some consolidation in the levels towards sub $62,000 handle in the US trading session.

Bitcoin is trading above its both 100 hourly and 200 hourly moving averages. The rally in BTC continues with fresh buying support seen after it touched an intraday low of $61,100 today in the early Asian trading session.

Bitcoin is moving in a strong bullish momentum, and a fresh rally is expected to push its prices above the $65,000 handle this week.

The medium to long-term outlook for bitcoin remains bullish with immediate targets for today at $63,200.


Bitcoin Consolidating Its Gains Above $60k
(https://i.postimg.cc/d0WSrHnZ/btc.png)

BTCUSD is gaining momentum. Its price continues to remain above the important psychological level of $60k. At the moment, the price of BTCUSD is facing a Fibonacci resistance level of $62,531, and Woodies resistance level of $62,798, after which the path towards $63,000 will be cleared.

In the last 24hrs, BTCUSD has risen UP by +0.83% / +825$ and has a 24hr trading volume of USD 39.152 billion.

Bitcoin Acceptance Increases

The global acceptance of bitcoin is growing. The number of BTC transactions continues to increase, which leads to its higher demand on cryptocurrency exchanges.

This year, residents of Brazil have bought 4 billion USD worth of crypto, including bitcoin. Brazil is expected to pass a bill to legalize bitcoin as legal tender.

Investments in bitcoin are expected to grow as well, with the listing of bitcoin exchange traded funds (ETFs). Some crypto analysts believe that bitcoin ETFs will allow billions of dollars managed by pension funds and other institutional investors to flow into bitcoin.

The Week Ahead

The price of BTCUSD is holding above $60,000, and after some consolidation, the bullish uptrend movement will start pushing its price above the $63,000 handle.

If the prices of BTCUSD continue to remain above the $63,000 mark this week, we may see a fresh rally towards $65,000 in the markets in the opening of the next week.

Both the medium- and long-term outlooks remain positive. Next week, we may witness BTC printing at above the $65,000 mark.

Technical Indicators:

Ultimate oscillator: at 58.88 indicating a BUY

Rate of price change (ROC): at 0.653 indicating a BUY

Moving averages convergence divergence (12,26): at 228.80 indicating a BUY

Relative strength index (14-day): at 55.39 indicating a BUY

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 20, 2021, 06:48:24 AM
EUR/USD Eyes Recovery, USD/CHF Could Break Higher

(https://i.postimg.cc/QMNsD15b/Euro-EUR-2x.jpg)

EUR/USD started a fresh rise above the 1.1620 resistance zone. USD/CHF is eyeing an upside break above the 0.9260 resistance zone in the near term.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro formed a base above the 1.1530 zone against the US Dollar. As a result, the EUR/USD pair started a fresh increase above the 1.1550 and 1.1560 resistance levels.

The pair was able to clear the 1.1600 resistance and the 50 hourly simple moving average. It even spiked above 1.1650 resistance. A high was formed near 1.1669 on FXOpen and the pair is now correcting lower.

EUR/USD Hourly Chart
(https://i.postimg.cc/8CyGzcmV/EURUSD-Chart-2x.jpg)

There was a break below the 23.6% Fib retracement level of the upward move from the 1.1572 swing low to 1.1669 high. It is now consolidating near the 1.1635 level and above the 50 hourly simple moving average. An immediate support is near the 1.1625 level.

It is near the 50% Fib retracement level of the upward move from the 1.1572 swing low to 1.1669 high. The next major support is near the 1.1605 level. There is a key bullish trend line forming with support near 1.1605 on the hourly chart of EUR/USD.

A downside break below the 1.1600 support could start another decline. The next major support sits near 1.1550. On the upside, an initial resistance is near the 1.1650 level.

The main resistance is near 1.1665. If there is an upside break above the 1.1665 resistance zone, the price could rise steadily towards the 1.1720 resistance zone.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 21, 2021, 04:10:35 PM
ETHUSD and LTCUSD Technical Analysis – 21st OCT, 2021

(https://i.postimg.cc/k4rXN7Mz/dcx1x.jpg)

ETHUSD: Bullish Engulfing Pattern Above $4000

Ethereum is moving in a strong bullish momentum after clearing the psychological resistance level of $4000. The price of ETHUSD touched an intraday high of $4241 in the Asian trading session and is now preparing for its next rally towards the $5000 handle.

ETH is now trading above its pivot level of $4157 and Fibonacci resistance level of $4169. The price of Ethereum is surging continuously today and is about to break its classic resistance level of $4206.

Ether is expected to maintain the bullish tone this week and continue towards the $4500 mark as the bulls take over. All the major technical indicators are giving a BUY signal.

ETH is now moving above both the 100 hourly and 200 hourly simple moving averages. Bullish engulfing pattern above $4000 suggests that we could witness a fresh rally towards $5000 soon.


Ether’s Rally Towards $5000 Confirmed

(https://i.postimg.cc/Pxmf20Px/eth1x.jpg)

ETHUSD is consolidating its gains above $4000 and is now preparing for its next upwards move against the US dollar. ETH is now facing its next major resistance levels of $4240 and $4320, after which the path towards $4500 will get cleared.

After surging above $4000, Ethereum’s volatility is low, suggesting that now investors are waiting to enter the market anticipating a major bullish move.

ETH has gained 8.79% with a price change of +$339.35 in the past 24hrs and has a trading volume of 24.516 billion USD.

Ethereum ETF

The total market capitalization of Ethereum continues to increase, and at present is valued at 455 billion USD. The investors are eagerly waiting for the launch of Ethereum ETF in the US markets, which would bring a larger number of investors into its domain.

Grayscale has announced its plans to launch an ETF based on Ethereum. At the moment, 4 Ethereum ETFs are trading in Canadian securities exchange, and plans are on to launch in the US market.

Some crypto analysts believe that with the Ethereum ETFs, more institutional investors will come in, leading to its higher demand and a surge in the price well above $6000.

The Week Ahead

Ethereum dips remain well supported, and an increased buying pressure is seen above the $4000 mark. The bullish trend continues from last week. Any bearish corrections will serve as a buying opportunity for long-term traders.

This week we may witness Ethereum touching the levels of $4500 — and then extending its rally towards the $5000 handle in the opening of the next week.

As the price of ETHUSD remains above its 100 hourly exponential moving average, a breakout above $4400 is expected this week.

Technical Indicators:

Average directional change (14-day): at 48.125 indicating a BUY

Bull/Bear power (13-day): at 47.63 indicating a BUY

Rate of price change: at 1.148 indicating a BUY

Moving averages convergence divergence (12,26): at 66.36 indicating a BUY

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 22, 2021, 07:32:02 AM
Gold Price and Crude Oil Price Eye Upside Break

(https://i.postimg.cc/3J8jtsbt/Goldx.jpg)

Gold price is facing resistance near $1,790 and $1,800. Crude oil price remains elevated above the key $80.00 pivot level and it is eyeing more upsides.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price started a fresh increase above the $1,750 pivot level against the US Dollar. The price gained pace and it was able to settle above the $1,780 resistance zone.

A high was formed near $1,800 on FXOpen and the price corrected lower. There was a break below the $1,780 and $1,775 levels. However, the bulls were active above the $1,750 level. A low was formed near $1,760 and the price is now rising.

Gold Price Hourly Chart
(https://i.postimg.cc/fWjjjz53/Gold-Chartx.jpg)

The price is back above the $1,780 level and the 50 hourly simple moving average. It also surpassed the 50% Fib retracement level of the key drop from the $1,800 swing high to $1,760 low.

There was also a break above a major contracting triangle with resistance near $1,785 on the hourly chart of gold. An immediate resistance on the upside is near the $1,788 and $1,790 levels. It is near the 76.4% Fib retracement level of the key drop from the $1,800 swing high to $1,760 low.

The first major resistance is near the $1,792 level. The main resistance is near the $1,800 level. A close above the $1,800 level could open the doors for a move towards $1,820.

On the downside, the first major support is near the $1,782 level and the 50 SMA. A downside break below the $1,762 support zone may possibly call for a test of the $1,765 support zone in the near term.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 25, 2021, 08:21:21 AM
GBP/USD and EUR/GBP Aim More Upsides

(https://i.postimg.cc/VNN2n6Qw/GBP-1.jpg)

GBP/USD is eyeing an upside break above the 1.3820 resistance zone. EUR/GBP is rising and it could gain pace if it clears the 0.8465 resistance.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound started a major increase from the 1.3440 support zone against the US Dollar. The GBP/USD pair traded above the 1.3600 resistance zone to move into a positive zone.

The pair even broke the 1.3750 resistance zone and settled above the 50 hourly simple moving average. It even spiked above 1.3800 and traded as high as 1.3835. GBP/USD is now correcting gains and trading below 1.3800.

GBP/USD Hourly Chart
(https://i.postimg.cc/XvDm8b4C/GBPUSD-Chart-3x.jpg)

An immediate support is near the 1.3760 level. It is near the 23.6% Fib retracement level of the upward move from the 1.3413 swing low to 1.3835 high.

It is now consolidating near the 1.3780 level. There is also a key rising channel forming with support near 1.3760 on the hourly chart of GBP/USD. A downside break below the channel support might even push the pair below the 1.3700 support zone.

The next major support is near the 1.3650 level. The 50% Fib retracement level of the upward move from the 1.3413 swing low to 1.3835 high is also near the 1.3650 zone.

Any more downsides might call for a move towards the 1.3600 level. On the upside, the pair is facing resistance near 1.3820. If there is an upside break above the 1.3820 resistance, the price could surpass 1.3850.

The next main resistance is near the 1.3920 zone, above which the pair could rise towards the 1.4000 level in the near term.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 25, 2021, 04:34:26 PM
EURUSD Volatility Expected to Increase As ECB's Decision Looms

(https://i.postimg.cc/FHrKtrvk/eur.jpg)

The EURUSD has been trading in relatively tight ranges recently despite important economic data releases. The pair has found strong support at the 1.16 level as buyers stepped in on every move below. However, the bounces have been shallow and with little or no follow-through.

This week, the price action on the EURUSD is expected to increase dramatically as investors prepare for two crucial events that will impact the currency pair: the European Central Bank meeting, and the Federal Reserve of the United States (FED) meeting next week.

(https://i.postimg.cc/28F5Xqsf/ecb-asset-purchasesx.jpg)

The Fed to Officially Announce Tapering

The Fed is set to officially announce the tapering of its asset purchases at next week's meeting. Last Friday, the Fed's chair said he believed that the time for tapering had come — but the EURUSD did not react, perhaps because the news came late on a Friday afternoon.

The statement is clearly hawkish for the dollar, and it should weigh on the EURUSD pair, especially since the ECB considers an opposite strategy. It will not taper yet; thus, the two monetary policies diverge.

The EURUSD is the most popular currency pair on the FX dashboard and one that sets the course for the dollar index. Despite finding buyers below 1.16 in the last weeks, the bias remains bearish heading into the two central banks meetings.

On Thursday, the focus sits with the ECB press conference and its staff's economic projections. As always, projections for inflation expectations are key for the euro. On Friday, investors will start to prepare for the Fed meeting scheduled for next week, and if the ECB keeps its dovish bias, the chances are that the EURUSD will test its recent lows around the 1.15 level.

FXOpen Blog
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 26, 2021, 03:07:17 PM
BTCUSD and XRPUSD Technical Analysis – 26th OCT, 2021

(https://i.postimg.cc/2yZ0hTQR/pcxo.jpg)

BTCUSD – Rising Uptrend Channel Above $60000

Bitcoin continues to consolidate its gains after touching an all-time high of $66967 last week. The price of bitcoin is now moving in a rising uptrend channel, indicating more upsides in the coming days.

Bitcoin is holding above the 100 hourly simple and exponential moving averages. The bearish correction that we saw last week after the price of BTC crossed $65000 seems to be well-supported above $60000.

Bitcoin has started its next leg of upward movement and is now expected to cross the 63500 handle in the US trading session today.

The short- to medium-term outlook for bitcoin remains bullish, and a rally is expected towards $65000 levels.


Bitcoin Fresh Rally Towards $64000 Confirmed
(https://i.postimg.cc/0Q3tzhJ0/btc.png)

BTCUSD is oscillating between 63271 and 62213, and needs to clear its immediate resistance levels of 63750. The price of BTCUSD has just cleared its Fibonacci resistance level of $62714 and classic resistance level of $62900 in the European trading session.

In the last 24hrs, BTCUSD has gone UP by +0.36% with the price change of +225$, and has a 24hr trading volume of USD 32.248 billion.

Bitcoin To Hit $80000 In 2021

The price of bitcoin has appreciated by more than 50% since last month. Bitcoin was trading at $41034 on 29th Sep, 2021, and with the current market price of $62850, we can see an appreciation of 53%. Many companies have been adopting bitcoin leading to a higher demand for BTC on the cryptocurrency exchanges worldwide.

Walmart is installing 200 bitcoin ATMs across the US. Bitcoin ETFs are gaining investor confidence. Twitter has enabled sending and receiving bitcoins via the Lightning network. Some crypto analysts say that the price of bitcoin will touch $80000 before the end of 2021.

The Week Ahead

The price of BTCUSD is holding above the important psychological level of $60000, and a positive momentum is observed in the short-term range. It is crucial for the price to hold above the $60000 handle for the next bitcoin rally towards $64000.

This week, BTCUSD is expected to cross 63500 and aim for upsides of 64000 to 64500. The short-term bearish correction phase seems to have ended, and the dips remain well-supported above 61000.

Both the medium-term and long-term outlook remain positive. Next week, we could witness BTC printing above the $64500 mark.

Technical Indicators:

Commodity channel index (14-day): at 28.51 indicating NEUTRAL

Average true range (14-day): indicating less volatility

Moving averages convergence divergence (12,26): at 190.30 indicating a BUY

Relative strength index (14-day): at 57.96 indicating a BUY

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 27, 2021, 07:29:14 AM
EUR/USD and EUR/JPY: Euro Remains At Risk

(https://i.postimg.cc/QMNsD15b/Euro-EUR-2x.jpg)

EUR/USD failed to recover and declined below the 1.1620 support. EUR/JPY is facing a major resistance near the 132.50 and 132.65 levels.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro started another decline after it struggled to clear the 1.1665 resistance against the US Dollar. The EUR/USD pair broke the 1.1620 support zone to move into a bearish zone.

The pair even traded below the 1.1600 support and settled below the 50 hourly simple moving average. A low was formed near 1.1585 on FXOpen and the pair is now correcting losses. It is currently facing resistance near the 1.1600 level.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 28, 2021, 06:53:39 PM
ETHUSD and LTCUSD Technical Analysis – 28th OCT, 2021

(https://i.postimg.cc/VvcCHBm3/ccxopt.jpg)

ETHUSD Consolidating Towards $4000

Ethereum had a major bearish correction yesterday breaking down below the $4000 level, after which the price has stabilized and is moving to a consolidation phase towards the $4000 handle.

ETHUSD touched an intraday high of $4298 on Wednesday, after which the prices saw a correction of more than 5%. The pair touched an intraday low of $3913 in today’s European trading session.

ETH is now trading just above its pivot level of $4018 and Camarilla resistance level of $4016. ETH is gaining bullish uptrend today and is about to break its classic resistance level of $4057.

Ether is expected to continue its uptrend move this week and reach the $4400 mark before this weekend. All the major technical indicators are giving a STRONG BUY signal.

ETH is now trading just above its 100 hourly simple moving averages. Moving averages crossover has been detected, signaling a potential change in trend towards $4400.


Ether’s Straight Uptrend Towards $4400
(https://i.postimg.cc/Wz6kRF4t/ethusdx.jpg)

ETHUSD price declined heavily against the US Dollar yesterday, but the dips remained well supported pushing it back above the important psychological level of $4000. ETH price is now building a positive momentum, and we could see some fresh gains in the US trading session today.

ETH is now facing its next major resistance levels of $4100 and $4179 after which the path towards $4400 will get cleared.

The relative strength index is at 56 indicating more upside potential for ETHUSD in the coming days. ETH has gained 2.82% with a price change of +$113.79 in the past 24hrs and has a trading volume of 23.695 Billion USD.

Ethereum To Hit $6000 in 2021

The Ethereum blockchain is moving towards Ethereum 2.0, which is proposed to be a much greener and faster version of the current system. The Altair upgrade to Beacon chain will likely push the prices of ETHUSD further up.

Traders are now waiting for the release of the upgrade, and with renewed buying pressure the prices of Ethereum are expected to touch $6000 before the end of this year.

The Week Ahead

Ethereum price is moving in an uptrend from the starting of this month and the trend is expected to continue this week. We could witness a short-selling in the ETH for some time below the sub$4000 level as seen yesterday, but the dips will remain well supported marking the resumption of the bullish trend.

We have seen moving averages crossover patterns for 5 hourly MA, and also for 5 day MA suggesting that both in the short- to medium-range the bullish outlook will continue.

The price of ETHUSD has already broken 200 hourly simple and exponential moving averages and is on its way towards the $4400 handle this week.

Technical Indicators:

Average directional change (14-day): at 45.57 indicating a BUY

Bull/Bear power (13-day): at 221.075 indicating a BUY

Ultimate oscillator: at 62.62 indicating a BUY

Commodity channel index (14-day): at 282.79 indicating OVERBOUGHT levels

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 29, 2021, 09:36:40 AM
AUD/USD and NZD/USD Aim More Upsides
(https://i.postimg.cc/bJKXHwcv/AUD-3.jpg)

AUD/USD started a fresh increase above the 0.7500 resistance zone. NZD/USD also climbed higher and it might aim more upsides towards 0.7250.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar found formed a base above the 0.7450 level and started a fresh increase against the US Dollar. The AUD/USD pair broke the 0.7480 and 0.7500 resistance levels to move into a positive zone.

The pair even broke the 0.7520 and 0.7540 resistance levels. It settled above the 0.7500 level and the 50 hourly simple moving average. A high was formed near 0.7554 on FXOpen and the pair is now consolidating gains.

AUD/USD Hourly Chart
(https://i.postimg.cc/cCYpDG0B/AUDUSD-Chart-2x.jpg)

It traded below the 23.6% Fib retracement level of the recent wave from the 0.7479 swing low to 0.7554 high. An initial support on the downside is near the 0.7525 level.

The next major support is near the 0.7515 level. It is close to the 50% Fib retracement level of the recent wave from the 0.7479 swing low to 0.7554 high. There is also a key bullish trend line forming with support near 0.7520 on the hourly chart of AUD/USD.

If there is a downside break below the 0.7515 support, the pair could extend its decline towards the 0.7480 level. An immediate resistance is near the 0.7550 level.

The next major resistance is near the 0.7580 level. A close above the 0.7580 level could start a steady increase in the near term. The next major resistance could be 0.7650.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 01, 2021, 04:26:08 AM
GBP/USD and EUR/GBP Trade Near Key Support

(https://i.postimg.cc/RZjSgjwd/Euro-Pound-Yen.jpg)

GBP/USD started a fresh decline and tested the 1.3680 support. EUR/GBP is rising, but it must stay above the 0.8440 support zone to continue higher.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound attempted a key upside break above 1.3820 against the US Dollar. The GBP/USD pair failed to gain momentum and started a fresh decline below 1.3750.

The pair broke the 1.3720 support zone and the 50 hourly simple moving average. There was also a break below a major contracting triangle with support near 1.3760 on the hourly chart of GBP/USD.

GBP/USD Hourly Chart
(https://i.postimg.cc/7L0xdmVk/GBPUSD-Chartx.jpg)

The pair spiked below 1.3700 and traded as low as 1.3665. It is now consolidating losses above the 1.3665 level. On the upside, the pair is facing resistance near 1.3700. It is near the 23.6% Fib retracement level of the downward move from the 1.3814 swing high to 1.3665 low.

If there is an upside break above the 1.3700 resistance, the price could surpass 1.3720. The next main resistance is near the 1.3740 zone. It is close to the 50% Fib retracement level of the downward move from the 1.3814 swing high to 1.3665 low.

Any more gains could send the pair towards the 1.3800 level in the near term. An immediate support is near the 1.3665 level. A downside break below the 1.3665 support might even push the pair below the 1.3650 support zone.

The next major support is near the 1.3600 level. Any more downsides might call for a move towards the 1.3550 level.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 02, 2021, 02:12:14 PM
BTCUSD and XRPUSD Technical Analysis – 02nd NOV, 2021
(https://i.postimg.cc/Zq5071WB/cdxopt.jpg)

BTCUSD: Bullish Ascending Channel Above $60,000

Bitcoin continues to trade steadily above $60,000 in the European trading session today. Yesterday, we saw the price of BTCUSD plummet below $60,000 but soon with renewed buying pressure it touched an intraday high of $62,443.

The price of bitcoin is now in the consolidation phase after recovering from its losses last week which saw the prices touching a low of $58,212.  This short-term bearish correction is a stepping stone towards its next leg of bull run towards $65,000.

Bitcoin is now moving above its both 100 hourly simple and exponential moving averages. Relative strength index appears to be neutral signifying sideways movements for the time being.

Medium to long term outlook remains bullish for BTCUSD with targets of $70,000 before the end of this month.

Bitcoin is slowly pulling back from the selloff that was seen last week, and is in the process of creating a bullish ascending channel this week.


Bitcoin: Recovery From Weekend Losses, March Towards $61,500
(https://i.postimg.cc/QdNzHbBk/chart.jpg)

BTCUSD has gone down by 8% from its all-time high price of $66,987, and we saw that this price action was achieved after sub-bearish moves below $60,000. This is an indication of a fresh upwards move in bitcoin which can break its all-time high level soon.

The price of BTCUSD is now facing its Camarilla resistance level of $61,569 and Fibonacci resistance level of $61,891, after which the path towards $63,000 will get cleared.

In the last 24hrs BTCUSD has gone DOWN by -0.26% with the price change of +104$, and has a 24hr trading volume of USD 34.007 billion.

Bitcoin Volatility Index
(https://i.postimg.cc/YqzVrVSC/vcx.jpg)

The volatility index of bitcoin shows the constant range of 85 to 95 in the preceding 3 months. This also has a significance since the value of holdings in bitcoin for the investors needs to remain stable.

With the introduction of the bitcoin ETFs, we should expect stable price movement, continued appreciation in the form of attracting more cash investments, and increased total market capitalization.

At present, the TMC of bitcoin is at $1,160 billion USD.

The Week Ahead

The price of BTCUSD is holding above the important psychological level of $60,000 and a positive momentum is seen in the short term range. It is crucial for the price to hold above the $60,000 handle for the next bitcoin rally towards $63,000.

This week, BTCUSD is expected to cross $64,000, and aim for upsides of $66,000 to $68,500 the next week. Both the medium term and long term outlooks remain positive. Next week, we could witness BTC printing above the $65,000 mark.

Technical Indicators:

Bull/Bear power (13-day): at 183.82 indicating a BUY

Commodity channel index (14-day): at 96.86 indicating a BUY

Moving averages convergence divergence (12,26): at 140.50 indicating a BUY

Ultimate oscillator: at 56.51 indicating a BUY

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 03, 2021, 06:28:55 AM
EUR/USD Faces Hurdle, USD/JPY Remains At Risk
(https://i.postimg.cc/W39x8X9T/Euro-EUR-USD.jpg)

EUR/USD started a fresh decline from well above 1.1650. USD/JPY is facing resistance near 114.00 and it might start a fresh decline in the near term.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started a major decline from the 1.1690 zone against the US Dollar. The EUR/USD pair traded below the 1.1650 support to move into a bearish zone.

The pair even broke the 1.1620 level and settled below the 50 hourly simple moving average. A low is formed

EUR/USD Hourly Chart
(https://i.postimg.cc/Y0hZsYVg/EURUSD-Chartx.jpg)

There was a break above the 23.6% Fib retracement level of the recent decline from the 1.1691 swing high to 1.1535 low. It is now facing resistance near the 1.1600 level.

The pair failed to clear the 1.1600 resistance and the 50 hourly SMA. There was also a failure near the 50% Fib retracement level of the recent decline from the 1.1691 swing high to 1.1535 low. As a result, the pair started a fresh decline below 1.1580.

There was a break below a key bullish trend line with support near 1.1590 on the hourly chart of EUR/USD. An immediate support is near the 1.1575.

The next major support is near 1.1550, below which the pair could drop towards the 1.1525 support in the near term. Any more losses may perhaps push the pair towards 1.1500. An immediate resistance is near the 1.1595 level.

The next major resistance is near the 1.1600 level. A clear break above the 1.1600 zone could open the doors

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 04, 2021, 04:10:15 PM
ETHUSD and LTCUSD Technical Analysis – 04th NOV, 2021
(https://i.postimg.cc/Ss3T028M/dc1.jpg)

ETHUSD: Bearish Engulfing Pattern Below $4,600

Ethereum has started bearish correction today in the Asian trading session, and the prices continue to break down below the $4,550 level with more downsides. We can see a bearish engulfing pattern below the $4,600 handle which signifies a bearing short-term trend reversal.

ETHUSD touched an intraday high of $4,661 yesterday in the US trading session after which the prices saw a downward correction of more than 4%, touching an intraday low of $4,509 today in the European trading session.

ETH is now trading below its classic support level of $4,544 and Camarilla support level of $4,564. ETH is gaining a bearish downtrend today and is about to break its classic resistance level of $4,057.

Ether is following a bearish path below $4,600 against the US dollar. No recovery seen today as the upsides remain limited and more selling pressure is seen below the $4,550 level.

The bearish correction is expected to continue, and the prices can break the important support levels of $42,00 in the coming days.

All the major technical indicators are giving a STRONG SELL signal.

ETH is now trading just above its 100 hourly simple and exponential moving averages.


Ether Could Extend Losses Below $4,400
(https://i.postimg.cc/2yWHCkFX/dc2x.jpg)

ETHUSD made an unsuccessful attempt towards the $4,700 level, after which ETH started its decline below $4,550. The selling pressure has increased  today in the ETHUSD, and the next support levels of $4,400 and $4,350 will be tested in the coming week.

We will need to wait for the prices to enter into a consolidation phase after which the trend reversal is possible in the short-term range.

We can see a bearish trend line formation which is expected to touch sub-$4,300 level this week.

The relative strength index is at 45, indicating a NEUTRAL market, and we could see a range bound movement in the prices of ETHUSD in the US trading session today.

ETH lost 1.80% with a price change of +$74.12 in the past 24hrs, and has a trading volume of 20.477 billion USD.

The Week Ahead

Ethereum price has been moving in a downtrend since yesterday, and a short-term trend reversal is seen which is pushing the prices of ETHUSD down. ETHUSD may continue to extend its losses or enter into a consolidation phase at any time.

StochRSI is OVERSOLD which indicates that markets are going to enter into a consolidation phase soon.

We would need to wait before entering the markets at these levels in the short-term range.

The price of ETHUSD has already broken its pivot level of 4,559 and is now about to break its Woodie’s support level of 4,510.

Technical Indicators:

StochRSI (9,6): at 26.63 indicating a BUY

Average directional change (14-day): at 27.75 indicating a NEUTRAL level

Ultimate oscillator: at 40.03 indicating a BUY

Commodity channel index (14-day): at -101.59 indicating an OVERBOUGHT level

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 05, 2021, 03:37:05 PM
AUD/USD and NZD/USD At Risk of More Downsides
(https://i.postimg.cc/RhFzKKgy/AUD-2.jpg)

AUD/USD started a fresh decline from well above the 0.7500 zone. NZD/USD accelerated lower and it is now consolidating near the 0.7080 zone.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar failed to stay above 0.7500 and started a major decline against the US Dollar. The AUD/USD pair broke the 0.7450 and 0.7420 support levels to move into a bearish zone.

The pair even broke the 0.7400 support level and the 50 hourly simple moving average. The pair traded as low as 0.7378 on FXOpen and it is now consolidating losses. An immediate resistance is near the 0.7400 level.

AUD/USD Hourly Chart
(https://i.postimg.cc/Tw28vnv1/AUDUSD-Chartx.jpg)

It is near the 23.6% Fib retracement level of the downward move from the 0.7470 swing high to 0.7378 low. The next major resistance is near the 0.7420 level.

The 50% Fib retracement level of the downward move from the 0.7470 swing high to 0.7378 low is also near the 0.7420 level. A close above the 0.7420 level could start a steady increase in the near term. The next major resistance could be 0.7450.

An initial support on the downside is near the 0.7380 level. The next major support is near the 0.7350 level. If there is a downside break below the 0.7350 support, the pair could extend its decline towards the 0.7320 level. The next major support is near 0.7300, below which the pair could accelerate lower in the near term.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 08, 2021, 05:33:57 AM
GBP/USD and GBP/JPY Could Struggle To Recover
(https://i.postimg.cc/wjrYTMhg/GBP-1.jpg)

GBP/USD declined heavily below the 1.3600 and 1.3550 support levels. GBP/JPY also declined below 154.00 and is currently struggling to recover.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound started a major decline from well above 1.3650 against the US Dollar. The GBP/USD pair broke the 1.3620 and 1.3600 support levels.

The pair even settled below the 1.3550 level and the 50 hourly simple moving average. Finally, there was a spike below the 1.3500 support zone. It traded as low as 1.3423 on FXOpen and is currently consolidating losses.

GBP/USD Hourly Chart
(https://i.postimg.cc/1zNhgSH6/GBPUSD-Chart-1.jpg)

The pair is now facing resistance near 1.3485. It is near the 23.6% Fib retracement level of the recent decline from the 1.3697 swing high to 1.3423 low.

The first key resistance is near the 1.3500 zone. The next major resistance is near the 1.3550 level. It is near the 50% Fib retracement level of the recent decline from the 1.3697 swing high to 1.3423 low.

There is also a major bearish trend line forming with resistance near 1.3625 on the hourly chart of GBP/USD. A close above the 1.3625 level could open the doors for more gains. The next major hurdle is near 1.3660 and the 50 hourly SMA, above which the pair could surge towards 1.3700.

On the downside, an immediate support is near the 1.3450 level. The next major support is near the 1.3425 level. If there is a break below the 1.3425 support, the pair could test the 1.3400 support. If there are additional losses, the pair could decline towards the 1.3350 level.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 08, 2021, 06:58:04 PM
Gold Regains $1,800 On Inflation Fears. What’s Next?
(https://i.postimg.cc/9fjqKLK5/gold.jpg)

Gold has spent the year consolidating. But, curiously enough for market participants, all this time, inflation has been on the rise in the advanced economies all this time.

Most recently, inflation reached levels not seen in decades, running hot in the United States and Europe, two regions where central banks have a hard time generating inflation according to their price stability mandate. But despite the ongoing rise in the prices of goods and services, gold, a traditional hedge against inflation, is powerless. Just the opposite, one may say: it has traded with a bearish tone all year. However, it found important support in the $1,680 area where buyers stepped in.

Last month, gold gained +1.5%, but still ended October down by a little over -6%. Gold equities rallied last month, up by more than +7%, and yet, for the year, they are down close to -12%.

One explanation for gold-related equities and gold’s poor performance is the US dollar index. By the end of October, the dollar index was up by +4.65% on the year, putting pressure on the price of gold.

This is another oddity because the dollar gained while inflation rose, and typically things work the other way around. What will the rest of the trading year bring for gold?

Technical Picture Remains Bullish
(https://i.postimg.cc/zfSRrnYL/gold-chart.jpg)

From a technical analysis perspective, the price of gold remains bullish. Two pivotal areas should be mentioned here.

On the one hand, in 2021, the price found strong support at the $1,680 level and has since bounced three times from. On the other hand, the $1,960 is a pivotal area on any move higher. While in between, the price of gold continues to consolidate.

However, judging by the triangular consolidation that just ended, the recent move higher above the upper edge of the triangle indicates more strength ahead. On a daily close above $1,850, traders will push for another run to $1,900.

One thing is clear. If inflation does not cool down in the months ahead, gold will have a hard time remaining at the current level. As such, traders should focus on the bigger picture and adjust their positions accordingly.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/gold-regains-1-800-on-inflation-fears-whats-next?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gold_regains_1_800_on_inflation_fears_whats_next_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 09, 2021, 04:32:15 PM
BTCUSD and XRPUSD Technical Analysis – 09th NOV, 2021
(https://i.imgur.com/p0rvooV.jpg)

BTCUSD: Bullish Ascending Channel Above $65,000
Bitcoin is moving in a strong bullish ascending channel above the $65,000 handle, and the continuous demand is pushing the prices of BTCUSD higher today in the European trading session. Bitcoin has already crossed its previous all-time high of $67,700 and is now trading above it.

This bitcoin rally is a result of continuous buying pressure and demand for BTC ETFs. The current trend is expected to continue with the immediate targets of $70,000 this week.

We have seen a moving averages crossover for the 5 hourly MA signifying that in the short-term, a downward correction in the levels of bitcoin is expected.

StochRSI is indicating OVERBOUGHT levels signifying that the markets can enter into a consolidation or price recovery phase at any time. Those who are looking to buy at current market levels will have to wait for the downward correction of prices to get an attractive entry for long-term holdings.

Bitcoin is now moving above its both 100 hourly simple and exponential moving averages.

Medium to long term outlook remains bullish for BTCUSD with targets of $70,000 before the end of this month.

Bitcoin is slowly consolidating its gains without any significant drop in its levels today.


Bitcoin Rally Towards $70,000 Confirmed
(https://i.imgur.com/7tvRupF.png)

BTCUSD has already crossed its major resistance level of $64,129 and continues to trade above the important psychological support level of $65,000.

The price of BTCUSD is now facing its Fibonacci resistance level of $67,844 and Camarilla resistance level of $67,914, after which the path towards $70,000 will get cleared.

In the last 24hrs, BTCUSD has gone UP by +3.36% with the price change of +2215$ and has a 24hr trading volume of USD 40.583 billion.

Bitcoin Touches Record Highs on Inflation Fears

Since last week, Bitcoin has witnessed heavy inflow of cash investments with a total value of $95 million USD on US inflation fears. Leading investment firm JPMorgan has already revised its upwards projection for the BTC stating that bitcoin is going to cross $146,000 in the year 2022, and hit the level of $73,000 before the end of 2021.

Next week, bitcoin is also expected to roll out its biggest software update known as Taproot, which will enable increased transaction efficiency and privacy for its users.

Since last week, this news has led to an increase in the total market capitalization of bitcoin by $120 billion USD.

The Week Ahead

If the price of bitcoin continues to hold above the $65,000 handle, we can witness another rally in the markets next week which will eventually push the prices of BTCUSD towards $70,000.

A short-term correction is also expected, pushing the BTCUSD down below the $65,000 mark and also giving more opportunities to fresh buyers in the market. Since the dips in bitcoin remain well supported, there is no possibility of a trend reversal, and the uptrend is expected to continue in the next week.

This week, BTCUSD is expected to cross the $68,000 line and aim for upsides of $69,000 to $69,500 the next week. Both the medium term and long term outlooks remain positive, and next week, we could witness BTC printing at above the $68,000 mark.

Technical Indicators:

Relative strength index (14-day): at 70.04 indicating a BUY

Rate of price change: at 2.835 indicating a BUY

Moving averages convergence divergence (12,26): at 990.80 indicating a BUY

Ultimate oscillator: at 66.44 indicating a BUY

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 10, 2021, 05:46:06 AM
EUR/USD and EUR/JPY: Euro Could Extend Losses
(https://i.postimg.cc/xT6Vb9hF/Euro-Pound-Yen-1.jpg)

EUR/USD is struggling to recover above the 1.1600 resistance. EUR/JPY is diving, and it could extend losses below the 130.50 support.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro started another decline after it struggled to clear the 1.1620 resistance against the US Dollar. The EUR/USD pair broke the 1.1550 support zone to move into a bearish zone.

The pair even traded below the 1.1520 support and settled below the 50 hourly simple moving average. A low was formed near 1.1513 on FXOpen and the pair is now correcting losses. There was a break above the 1.1550 and 1.1560 resistance levels.

EUR/USD Hourly Chart
(https://i.postimg.cc/sg1dYtRf/EURUSD-Chart-1x.jpg)

The pair even spiked above 1.1600 and the 50 hourly simple moving average. However, it is facing hurdles near the 1.1620 level. The pair is now correcting lower and trading near the 23.6% Fib retracement level of the upward move from the 1.1513 swing low to 1.1607 high.

On the downside, the 1.1580 level is a major support. There is also a key contracting triangle forming with support near 1.1580 on the hourly chart.

Any more losses might lead EUR/USD towards the 1.1525 support zone in the near term. The next major support sits near the 1.1500 level. On the upside, the first major resistance is near the 1.1600 level.

The main resistance is near the 1.1620 level. A clear break above the 1.1620 resistance could push EUR/USD towards 1.1665.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 11, 2021, 04:58:02 PM
ETHUSD and LTCUSD Technical Analysis – 11th NOV, 2021
(https://i.postimg.cc/2yMksWwc/pbx.jpg)

ETHUSD: Evening Star Pattern Above $4,500

We observed Ethereum moving in a bearish channel after it touched an all-time high of $4,865, continuing with a sharp drop in profit-taking seen across all the major cryptocurrency exchanges.

The price dynamics of Ethereum has shown an Evening Star pattern above the $4,500 handle, signifying a potential reversal of the bearish trend and the continuation of the medium to long-term bullish trend.

ETHUSD touched an intraday high of $4,847 in yesterday’s US trading session, after which the price saw a downward correction of more than 7%, dropping to an intraday low of $4,471. A consolidation wave towards the level of $4,600 followed next.

ETH is now trading above its classic support level of $4,647 and Fibonacci support level of $4,675. In today’s US trading sessions, it is forming a bearish trend reversal pattern and is about to enter the bullish channel once again.

The bearish correction occurred due to profit taking seen at higher levels, but the dips remain well supported. The price of Ethereum continues to trade above the $4,600 handle in the European trading session.

All the major technical indicators are giving a STRONG BUY signal.

ETH is now trading just above its 200 hourly simple and exponential moving averages.


Ether Bearish Trend Reversal Above $4,500 Confirmed
(https://i.postimg.cc/J0G7YxbH/etx.png)

ETHUSD has been surging in a steep trend line since 20th Jul, 2021 when it was ranging at the level of $1,700, yielding its long-term investors profits on a continuous basis.

The uptrend rally is not yet over, and we are still awaiting for Ether to cross the $5,000 handle, after which more upsides will be seen towards the $5,200 to $5,500 range in the coming months.

At present, the price of Ethereum is in a aub-consolidation phase, forming a bearish trend reversal pattern since yesterday.

The relative strength index is at 45, indicating a NEUTRAL market; we could see a range bound movement in the prices of ETHUSD in the US trading session today.

ETH has lost 0.22% with a price change of -$10.33 in the past 24hrs, and has a trading volume of 23.638 billion USD.

The Week Ahead

We have seen a moving averages crossover in the 5-hour range, which signifies a short-term potential trend reversal. ETHUSD will need to remain above the $4,700 handle for the bullish trend confirmation, and this week, we are looking for levels of $4,800 to $4,950.

StochRSI is OVERBOUGHT which indicates that the prices are going to REVERSE very soon.

The current levels are very attractive for entering into the markets with the target of $5,000.

The price of ETHUSD has already broken its pivot level of $4,674 and Fibonacci resistance level of $4,700. We should see the prices of ETHUSD touching an all-time high again next week, printing at above the $5,000 handle.

Technical Indicators:

Stoch (9,6): at 74.34 indicating a BUY

Average directional change (14-day): at 21.96 indicating a BUY

Ultimate oscillator: at 68.83 indicating a BUY

Commodity channel index (14-day): at 60.54 indicating BUY

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 12, 2021, 06:58:33 AM
Gold Price Gains Momentum While Crude Oil Price Faces Hurdle
(https://i.postimg.cc/y6MXLgHW/Gold-price-oil-price.jpg)

Gold price is trading in a positive zone above the $1,825 support. Crude oil price is facing hurdles near $82.20 and $83.00.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price started a fresh increase above the $1,800 pivot level against the US Dollar. The price gained pace and it was able to settle above the $1,820 resistance zone.

The price even settled above the $1,820 level and the 50 hourly simple moving average. Finally, there was a break above the $1,850 level. A high was formed near $1,867 on FXOpen and the price corrected lower. There was a break below the $1,860 level and the $1,855 support.

Gold Price Hourly Chart
(https://i.postimg.cc/xjJ3GGBW/Gold-Price-Chartx.jpg)

The price even traded below the 50% Fib retracement level of the upward move from the $1,822 swing low to $1,867 high.

However, the bulls remained active near $1,842. The price is also stable above the 61.8% Fib retracement level of the upward move from the $1,822 swing low to $1,867 high. Besides, there is a key bullish trend line forming with support near $1,842 on the hourly chart of gold.

The price is back above the $1,855 level and the 50 hourly simple moving average. An immediate resistance on the upside is near the $1,862 level.

The main resistance is near the $1,870 level. A close above the $1,870 level could open the doors for a steady increase towards $1,885. The next major resistance sits near the $1,900 level. On the downside, an initial support is near the $1,855 level.

The first major support is near the $1,850 level. A downside break below the $1,850 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,820 support.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 17, 2021, 05:59:27 AM
EURO AT MULTI-MONTH LOW
(https://i.postimg.cc/9MbgfcXs/eur1.png)

This Tuesday morning, the euro futures on the CME are trading below the psychological level of 1.14. Compared with the May 25 high of 1.227, the drop has already amounted to more than 7%. The last time the euro traded below 1.14 was in July 2020.

One of the drivers that pushed the euro below the 1.14 level was European Central Bank President Christine Lagarde’s Monday comments. She positioned that inflation would remain high in the Eurozone for longer than previously expected. “Despite the current inflation surge, the outlook for inflation over the medium term remains subdued,” she said.

But it is too early to raise the interest rate. Given the time lag characteristic of monetary policy implementation, tightening measures would do more harm than good, Lagarde added.

This means that the euro emission policy will continue, so the EURUSD rate has reasonably decreased, but from a technical point of view, we can expect a rebound.

The 1.14 mark served as a strong resistance (1) in stormy March 2020. In June, this level proved its significance once again (2), but was broken through upwards against growing volumes (3) in July 2020. Now we may see 1.14 acting as support and being effective at least to some degree, which, however, may prove to be sufficient for speculation on the short-term horizon.

FXOpen Telegram Channel (http://"https://t.me/s/fxopen_official")

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 17, 2021, 02:55:11 PM
SATOSHI NAKAMOTO'S IDENTITY COULD BE REVEALED IN COURT

The identity of bitcoin creator Satoshi Nakamoto, who had appeared exclusively online before vanishing in 2011, remains a mystery. The glory of the creator of the world’s principal cryptocurrency and alleged holder of 1.1 million bitcoins haunts many a crypto enthusiast.

Various versions suggest that the bitcoin creator hiding under the pseudonym is Dorian Nakamoto, Nick Szabo, or Hal Finney, but these theories have not been confirmed.

Today, the person in the media spotlight is Craig Wright, a programmer who, for several years now, has been claiming he is the notorious Satoshi Nakamoto. While the general public considers the evidence he’s presented to be inconclusive, his story has taken an unexpected turn.

The family of Dave Kleiman, a programmer who contributed to bitcoin’s creation but died in 2013, sued Wright in Florida, demanding that he share the 1.1 million bitcoins. The family's lawyer claims to possess evidence that Kleiman had mined the coins that are stored in Satoshi's wallet.

It is up to the court to rule out whether Wright is who he claims to be and whether he should share his stash of bitcoin. One important thing is that if Satoshi's identity is confirmed, Wright will become the most authoritative personality in the crypto world, dramatically affecting the BTCUSD rate.

So far, bitcoin has been weakening, which we talked about in our earlier publications.

November 10 (1) saw high sales volumes. They held back the upside attempt on November 14-15 (2) and jeopardized the trendline (3), which has now been broken. Note that the November 15 high (2) is 50% of the AB decline, while the November 14 bullish candlestick has low volume (5), implying weak demand. All of this paints a bearish picture. We expect an attempt to test the breakdown of line (3).
(https://i.postimg.cc/YqyF2y5X/bt1.png)

FXOpen Telegram Channel (http://"https://t.me/s/fxopen_official")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 19, 2021, 06:39:02 AM
Rivian Doubles in Price In Less Than One Week Since Its IPO
(https://i.postimg.cc/KvYQXwgq/rivianx.jpg)

Rivian (NASDAQ:RIVN) is an electric vehicle startup backed by Jeff Bezos, the CEO of Amazon. It listed its shares last week on NASDAQ at an IPO (initial public offering) price of $78. To the surprise of many market participants, the stock price has doubled in just one week since then, trading close to $170/share, resulting in a market capitalization larger than that of some well-established companies such as Volkswagen.

Investors still bet big on renewable energy solutions, as many governments in the developed world plan to phase out the combustion engine in the next decade or so. As such, electric vehicle companies have surged on the world's stock exchanges, even though they are not manufacturing that many vehicles.

Take Rivian — founded in 2009, it currently employs about 6,000 people. In the first trading week, the stock market performance propelled the company above Ford's market capitalization, despite Ford employing 178,000 people and delivering far more cars.

Other Electric Vehicle Makers Have Seen Stock Price Surge in 2021
(https://i.postimg.cc/fWC5rDkS/12-1.jpg)

Rivian's performance in the first trading week since it became a publicly listed company should not come as a surprise. While impressive, its stock price performance follows closely in the footsteps of other similar companies that have outperformed the market in 2021.

Lucid Group (NASDAQ:LCID) is one of them. It develops electric vehicle technologies such as full cars as well as battery systems. The stock price has gone up over +340% this year alone.

Tesla is another such company, only this time, it needs no introduction. Tesla is one of the world's biggest brands, and its charismatic CEO, Elon Musk, is constantly in the papers. Most recently, Musk held a Twitter poll asking if he should sell 10% of Tesla shares. Millions of voters urged him to do so — so he did. Yet, despite the massive selling, Tesla shares have rallied over +145% in the last twelve months, and more than +2,600% in the last five years. TSLA currently trades above $1,000 a share, as buyers emerged on every dip.

All in all, the electric vehicle industry is popular among investors as governments fight to tackle climate change. Sky-high valuations seem to not matter for retail investors who want to get exposure to the industry and are willing to pay multiple times their current earnings.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/rivian-doubles-in-price-in-less-than-one-week-since-its-ipo?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=rivian_doubles_in_price_in_less_than_one_week_since_its_ipo")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 19, 2021, 12:13:35 PM
ETHUSD and LTCUSD Technical Analysis – 18th NOV, 2021
(https://i.postimg.cc/66yMCZ6b/dcx.jpg)

ETHUSD: Descending Triangle Pattern Below $4,300

Ethereum failed to continue its bullish momentum this week and after touching an intraday high of $4,765 on 16th Nov, started a steep decline towards the $4,300 handle.

We can see a descending triangle pattern below $4,300 which signifies that the downtrend is expected to continue as more and more traders are entering short positions in Ethereum in hopes of making profit from a falling market.

ETHUSD touched an intraday low of $4,118 in the European trading session today, after which the prices stabilized and continue to trade above the $4,200 level.

StochRSI is indicating OVERSOLD level, which means that the market is in a position to enter into a consolidation phase, and the prices will continue to move in a narrow range between $4,200 and $4,400.

ETH is now trading below its pivot level of $4,243 and moving in continuation of a bearish trend. The price of ETHUSD is now testing its classic support level of $4,197 and its Fibonacci support level of $4,213. After this, the path towards $4,000 will get cleared.

ETHUSD is facing heavy downwards pressure and has already broken its key support level of $4,240 today.

All the major technical indicators are giving a STRONG SELL signal.

ETH is now trading below both the 100 hourly and 200 hourly simple moving averages.


Ether Bearish Trend Continuation Below $4,300
(https://i.postimg.cc/CMXm7Kzh/eth.png)

ETHUSD has been moving in a steep downturn since yesterday, and this is a short-term bearish reversal of the market. The medium to long-term outlook for ETH remains bullish.

The present market condition offers short-term traders to enter into SELL positions, with the immediate targets of $4,100 and $4,000.

The price of ETHUSD will need to remain above the important psychological support level of $4,000 this week to mark the reversal of this bearish channel.

The average true range is indicating low market volatility as we can see a drop of 26% in the trading volume as compared to yesterday. This means that fresh buyers are not willing to enter the markets given the bearish nature of the trend.

ETH has gained +1.15% with a price change of +47.70$ in the past 24hrs and has a trading volume of 18.471 billion USD.

The Week Ahead

Ether is expected to continue this downtrend this week and touch the level of $4,100 or even break the $4,000 handle. Since the long-term bullish tone is still present, the dips below $4,000 will remain well supported and will continue to push the prices higher.

StochRSI is OVERSOLD which indicates that the prices are going to REVERSE very soon.

The current level is very attractive for entering into the markets with short-term position and the target of $4,000.

The price of ETHUSD has already broken its Camarilla support level of $4,234 and further downsides are expected below $4,200 in the coming days. Next week, we can expect a reversal of this bearish trend.

Technical Indicators:

Stoch (9,6): at 26.571 indicating a SELL

Relative strength index (14-day): at 43.318 indicating a SELL

Ultimate oscillator: at 39.654 indicating a SELL

Rate of price change: at -0.687 indicating a SELL

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-18th-nov-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=ethusd_and_ltcusd_technical_analysis_18th_nov_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 19, 2021, 07:46:09 PM
Gold Price and Crude Oil Price Could Start Fresh Increase
(https://i.postimg.cc/6Qrq9t8d/gold.jpg)

Gold price is trading in a positive zone above the $1,850 support. Crude oil price must clear $80.00 to start a fresh increase in the near term.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis
(https://i.postimg.cc/NMb0HD7F/Gold-Chartx.jpg)

Gold price started a fresh increase above the $1,820 resistance level against the US Dollar. The price gained pace and it was able to settle above the $1,842 resistance zone.

The price even settled above the $1,850 level and the 50 hourly simple moving average. Finally, there was a break above the $1,870 level. A high was formed near $1,877 on FXOpen and the price corrected lower. There was a break below the $1,865 level, but the bulls remained active near $1,850.

A low is formed near $1,850 and the price is now rising. The price is back above the $1,860 level and the 50 hourly simple moving average. It also surpassed the 50% Fib retracement level of the recent decline from the $1,871 swing high to $1,850 low.

An immediate resistance on the upside is near the $1,863 level. It is near the 61.8% Fib retracement level of the recent decline from the $1,871 swing high to $1,850 low. The first major resistance is near the $1,865 level.

There is also a key contracting triangle forming with resistance near $1,865 on the hourly chart of gold. The main resistance is near the $1,870 level. A close above the $1,870 level could open the doors for a steady increase towards $1,885.

The next major resistance sits near the $1,900 level. On the downside, an initial support is near the $1,855 level. The first major support is near the $1,850 level. A downside break below the $1,850 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,820 support.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-could-start-fresh-increase?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gold_price_and_crude_oil_price_could_start_fresh_increase_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 22, 2021, 06:02:09 AM
GBP/USD and EUR/GBP At Risk of More Losses
(https://i.postimg.cc/YC1sV8Pr/GBPUSD-British-Pound.jpg)

GBP/USD is struggling to clear the 1.3500 resistance zone. EUR/GBP is declining and remains at a risk of more losses below the 0.8380 support.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound found support near 1.3350 and started a decent recovery the US Dollar. The GBP/USD pair climbed higher above the 1.3400 and 1.3450 levels.

The pair even spiked above the 1.3500 level, but there was no upside continuation. A high is formed near 1.3512 on FXOpen and the pair is now declining. The pair traded below the 1.3480 and 1.3450 support levels to enter a bearish zone.

GBP/USD Hourly Chart
(https://i.postimg.cc/DznMKLVq/GBPUSD-Chart-2x.jpg)

There was a break below a key bullish trend line with support near 1.3460 on the hourly chart of GBP/USD. The pair declined below the 50% Fib retracement level of the upward move from the 1.3353 swing low to 1.3512 high.

The pair is now trading below the 1.3450 and the 50 hourly simple moving average. On the upside, an initial resistance is near the 1.3450 level.

If there is an upside break above the 1.3450 resistance and the 50 hourly SMA, the price could surpass 1.3480. The main resistance is near the 1.3500 zone. Therefore, a proper break above the 1.3500 resistance could open the doors for a steady increase. The next major resistance for the bulls could be 1.3600.

If not, the pair could extend losses below 1.3425. An immediate support is near the 1.3415 level. It is near the 61.8% Fib retracement level of the upward move from the 1.3353 swing low to 1.3512 high.

The first key support is near the 1.3400 level. Any more losses could lead the pair towards the 1.3350 support zone. The next major support sits near the 1.3250 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-and-eur-gbp-at-risk-of-more-losses-2?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_and_eur_gbp_at_risk_of_more_losses_2_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 23, 2021, 04:41:40 PM
Euro Under Pressure as COVID Cases Mount

(https://i.postimg.cc/3RLpjHwq/dcx.jpg)

Winter has arrived in Europe and, with it, a new wave of COVID-19 infections. Despite Europe doing a relatively good job at vaccinating the population, the current vaccination rate is not substantial enough to curb the infection in some countries.

COVID-19 infections are mounting once again, thus putting pressure on economies. Austria, for example, announced a new three-week lockdown in a desperate attempt to stop the virus and also to save the ski season (that has just started), as the tourism industry contributes in no small measure to the Austrian GDP.

Moreover, the country announced that vaccination will become compulsory starting from February next year. The development has triggered a decline in euro pairs, with the EURUSD exchange rate trading below 1.13, and the EURJPY below 129.

Fed Turns Hawkish

(https://i.postimg.cc/0jbScHMy/fed.jpg)

The Federal Reserve of the United States announced the tapering of its quantitative easing and a gradual phase-out of the bond-buying program. However, last week, some Fed members argued for a faster reduction to tapering and signaled at least one rate hike to come in 2022. As such, the divergence with other central banks will support the dollar in the period ahead.

On the other hand, the European Central Bank clearly has no intentions of hiking the interest rate next year. As such, from a monetary policy perspective, the euro has no reason to rise anytime soon.

All euro pairs have come under pressure, not only the EURUSD. The EURJPY, for instance, traded with a bid tone all year but failed at the 133 level. In a matter of just a few days, it declined below 129 despite the USDJPY holding above 114.

EURGBP is another pair reflecting the euro’s weakness. In addition, the Bank of England has voiced some concerns about the rising inflation rate, which could mean it following in the Fed’s footsteps sooner rather than later. Therefore, further declines in the cross pair should be expected.

All in all, the euro looks weak here ahead of Thanksgiving and at the start of the winter season. As COVID-19 puts pressure on the European economies again, traders have no incentives to buy the common currency.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/euro-under-pressure-as-covid-cases-mount?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=euro_under_pressure_as_covid_cases_mount_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 24, 2021, 05:40:39 AM
EUR/USD Extends Decline, USD/CHF Gains Momentum
(https://i.postimg.cc/fWHMLt0Z/Euro.jpg)

EUR/USD started a fresh decline from well above the 1.1350 pivot zone. USD/CHF is rising, and it might extend gains above the 0.9350 level.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro attempted an upside break above the 1.1400 resistance zone against the US Dollar. The EUR/USD pair failed to gain strength and started a fresh decline.

There was a clear break below the 1.1350 and 1.1300 support levels. The pair even broke the 1.1250 support and the 50 hourly simple moving average. Finally, there was a move below the 1.1230 level and a low is formed near 1.1226 on FXOpen.

EUR/USD Hourly Chart
(https://i.postimg.cc/c4r08xQ3/EURUSD-Chart-2x.jpg)

The pair is now consolidating losses near the 1.1230 level. On the upside, an initial resistance is near the 1.1255 level. The 23.6% Fib retracement level of the recent decline from the 1.1373 swing high to 1.1226 low is also near 1.1255.

There is also a key bearish trend line forming with resistance near 1.1255 on the hourly chart of EUR/USD. The next major resistance is near the 1.1300 zone.

The 50% Fib retracement level of the recent decline from the 1.1373 swing high to 1.1226 low is also near the 1.1300 zone. A clear upside break above the 1.1300 zone could open the doors for a steady move.

The next major resistance sits near the 1.1350 level. On the downside, an immediate support is near the 1.1225 level. The next major support is near the 1.1200 level.

A downside break below the 1.1200 support could start another decline. The next major support sits near 1.1120.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/eur-usd-extends-decline-usd-chf-gains-momentum?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_extends_decline_usd_chf_gains_momentum_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 25, 2021, 01:20:58 AM
BTCUSD and XRPUSD Technical Analysis – 23rd NOV, 2021
(https://i.postimg.cc/v8vwhskP/dcx.jpg)

BTCUSD: Head and Shoulders Pattern Below $60,000

Bitcoin is moving in continuation of a strong bearish trend this week, and any attempts towards a bullish reversal failed. This is the reason we see BTCUSD trading below the $60,000 handle in the European trading session today.

We can clearly see a head-and-shoulders pattern below the $60,000 level which signifies that we are in a confirmed downtrend.

Yesterday, we saw yesterday BTCUSD touching an intraday high of $59,965 after which the prices started to decline and touched an intraday low of $55,676, with today’s intraday low of $55,864.

We can see a continuous downwards selling pressure in bitcoin today, and more losses are expected in the coming days.

The immediate short-term outlook for bitcoin turned bearish, and now we are looking at levels of $55,000 and $52,000.

Williams percent range is overbought which signifies that more selling is expected today in the US trading session which will push the prices of BTCUSD below the $55,000 handle.

Bitcoin is now moving below both the 100 hourly simple and exponential moving averages.

The average true range is indicating less market volatility which means that markets are due to enter a consolidation phase soon.


Bitcoin: Strong Bearish Trend Towards $55,000
(https://i.postimg.cc/brLXwx1X/btcx.jpg)

BTCUSD has already broken its support level of $56,500 and is now about to break its important psychological support level of $55,000.

The price of BTCUSD is trading above its classic support level of $55,242 and Fibonacci support level of $55,874 in the European trading session.

In the last 24hrs, BTCUSD has gone DOWN by -2.21% with a price change of -1271$ and has a 24hr trading volume of USD 35.677 billion.

Bitcoin Bonds

El Salvador has become the first country to issue a $1 billion bitcoin bond with a 10-year maturity on the Liquid Network.

The new bitcoin-linked bond appears to be the highest-yielding fixed income instrument globally. This bond will yield a 6.5% rate of annual interest payments to its investors.

The credit rating for this bitcoin bond is negative due to the distressed-debt situation of El Salvador.

El Salvador adopted bitcoin as legal tender in  June 2021, after which Moody's Investors Service downgraded the long-term foreign-currency issuer and senior unsecured ratings to Caa1 from B3.

The Week Ahead

The downward selling pressure seen in Bitcoin is expected to push its prices to the $52,000 range, after which a fresh wave of consolidation and an uptrend move is expected.

The bearish trend formation continues and is expected to push the prices below the level of $54,000 this week. After touching a low of $52,000, a potential bullish trend reversal is expected for which we will have to wait until next week.

The prices will need to remain above the important support level of $52,682 for a bullish reversal of the markets.

Technical Indicators:

Relative strength index (14-day): at 35.28 indicating a SELL

Average directional change (14-day): at 40.639 indicating a SELL

Moving averages convergence divergence (12,26): at -442.90 indicating a SELL

Ultimate oscillator: at 40.127 indicating a SELL

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-23rd-nov-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=btcusd_and_xrpusd_technical_analysis_23rd_nov_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 25, 2021, 03:00:53 PM
ETHUSD and LTCUSD Technical Analysis – 25th NOV, 2021
(https://i.postimg.cc/zBCx1zSQ/pbx.jpg)

ETHUSD: Double Bottom Pattern Above $4,000

On Nov 23rd, Ethereum touched a low of $4,030, after which the prices stabilized and, as of yesterday, entered into a consolidation phase.

In today’s Asian trading session, ETHUSD touched an intraday high of $4,334.

We can see a double bottom pattern above $4,000 which signifies a bullish reversal, end of a downtrend and a shift towards an uptrend.

In today’s European trading session, the price of Ethereum continues to rise slowly and is aiming for upsides of $4,400 and $4,500.

The fall in the levels of ETH seen last week occurred due to profit-taking; the bullish tone is back in the markets. The pair is gaining a bullish momentum and is also poised for a rally upwards of $4,500 that can happen any time now.

ETH is trading above its pivot level of $4,276 and moving in a bullish trend. The price of ETHUSD has already broken its classic resistance level of $4,298 and its Fibonacci resistance level of $4,290. In the US trading session, it is aiming towards the $4,400 handle.

All the major technical indicators are giving a STRONG BUY signal.

ETH is now trading above both the 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Trend Towards $4,500 Confirmed
(https://i.postimg.cc/wv8wPyJJ/ethx.jpg)

ETHUSD was moving in a consolidation channel in the early Asian trading session today after which a bullish momentum started pushing the price above the $4,300 handle.

We can see that last week’s heavy-selling pressure has exhausted, and now buyers are returning to the markets.

The relative strength index is NEUTRAL which signifies a potential trend reversal today.

It is best to enter into long positions in Ethereum at the present market level of $4,300 with targets of $5,000 the next month.

The average true range is indicating low market volatility as we can see a 12% drop in the trading volume as compared to yesterday. This is because the market was in a consolidation phase and the buyers were waiting for a bullish pattern which is clearly visible now.

ETH has gained +0.63% with a price change of +26.94$ in the past 24hrs and has a trading volume of 18.729 billion USD.

The Week Ahead

Ether is printing above $4,300 today, and we could see $4,500 this week.

The medium-to-long term outlook for Ether remains bullish, targeting $5,000 and above in the next month.

We can already see an increase in Ethereum’s market capitalization which currently stands at $510 billion.

The price of ETHUSD has already broken its key resistance level of $4,270 and is about to break its next resistance level of $4,335.

We could see Ether printing at above $4,500 next week and aim upsides towards the $5,000 handle.

At present, the market is offering a good buying opportunity for long-term traders who can hold till it reaches $10,000 in 2022.

Technical Indicators:

The commodity channel index (14-day): at 56.55 indicating a BUY

Moving averages convergence divergence (14-day): at 11.85 indicating a BUY

StochRSI (14-day): at 69.83 indicating a BUY

Rate of price change: at 2.121 indicating a BUY

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-25th-nov-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=ethusd_and_ltcusd_technical_analysis_25th_nov_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 26, 2021, 07:05:29 AM
AUD/USD and NZD/USD Turn Red, Risk of More Losses
(https://i.postimg.cc/fTtBk17D/AUD-2.jpg)

AUD/USD started a fresh decline from well above 0.7250. NZD/USD is also declining, and it might accelerate lower below the 0.6800 level.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar started a major decline after it failed to clear 0.7300 against the US Dollar. The AUD/USD pair traded below the 0.7250 and 0.7200 support levels to move into a bearish zone.

The pair even broke the 0.7150 support and the 50 hourly simple moving average. Besides, there was a break below a connecting support trend line at 0.7170 on the hourly chart of AUD/USD. The pair is now accelerating lower below the 0.7150 level.

AUD/USD Hourly Chart
(https://i.postimg.cc/K8tfDLsW/AUDUSD-Chart-1x.jpg)

An initial support on the downside is near the 0.7120 level. The next major support is near the 0.7100 level. If there is a downside break below the 0.7100 support, the pair could extend its decline towards the 0.7050 level.

On the upside, an immediate resistance is near the 0.7150 level. It is near the 23.6% Fib retracement level of the recent decline from the 0.7208 swing high (formed on FXOpen) to 0.7136 low.

The next major resistance is near the 0.7175 level. It is near the 50% Fib retracement level of the recent decline from the 0.7208 swing high to 0.7136 low. A close above the 0.7175 level could start a steady increase in the near term. The next major resistance could be 0.7250.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-turn-red-risk-of-more-losses?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=aud_usd_and_nzd_usd_turn_red_risk_of_more_losses_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 29, 2021, 07:12:14 AM
GBP/USD Faces Hurdle, USD/CAD Remains In Uptrend
(https://i.postimg.cc/Pq9223ST/GBPUSD-Cable-Sterling.jpg)

GBP/USD is attempting a recovery wave from the 1.3280 zone. USD/CAD is rising and is showing positive signs above the 1.2700 support.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After a major decline, the British Pound found support above 1.3250 against the US Dollar. GBP/USD traded as low as 1.3278 on FXOpen and recently started an upside correction.

The pair broke the 1.3320 resistance to move into a short-term positive zone. There was a break above the 23.6% Fib retracement level of the downward move from the 1.3512 swing high to 1.3278 low. Besides, there a break above a key bearish trend line with resistance near 1.3330 on the hourly chart of GBP/USD.

GBP/USD Hourly Chart
(https://i.postimg.cc/WzPSPDRy/GBPUSD-Chart-3x.jpg)

It is now trading above the 1.3330 level and the 50 hourly simple moving average. An immediate resistance is near the 1.3370 level.

The first major resistance is near the 1.3400 level. It is near the 50% Fib retracement level of the downward move from the 1.3512 swing high to 1.3278 low. If there is an upside break above the 1.3400 zone, the pair could rise towards 1.3500.

The next key resistance could be 1.3550, above which the pair could gain strength. On the downside, the first key support is near the 1.3320 area.

If there is a break below 1.3320, the pair could decline extend its decline. The next key support is near the 1.3280 level. Any more losses might call for a test of the 1.3200 support.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-faces-hurdle-usd-cad-remains-in-uptrend/?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_faces_hurdle_usd_cad_remains_in_uptrend_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 01, 2021, 05:41:33 AM
BTCUSD and XRPUSD Technical Analysis – 30th NOV, 2021
(https://i.postimg.cc/k53TbxgJ/dcx.jpg)

BTCUSD: Double Bottom Pattern Above $53,000

Bitcoin suffered heavy losses at the end of last week when it touched a low of $53,700 and remained in the bearish trend.

At the start of this week, bitcoin had a major bullish correction after it recovered from its last-week losses and gained more than 6%, touching the $57,000 handle.

This week, bitcoin is moving in continuation of a mild bullish trend and giving mixed signals. At present, BTCUSD is trading above the $56,000 handle in the European trading session.

We can clearly see a double bottom pattern above the $53,000 handle, which is a bullish reversal pattern signifying the end of the downtrend and a shift towards an uptrend.

Yesterday, we saw BTCUSD touching an intraday high of $57,635 after which the prices started to decline and, today, touched an intraday low of $56,795.

The immediate short-term outlook for bitcoin has turned NEUTRAL and we will have to wait till the clear market signals are visible.

Williams percent range is overbought which signifies that more selling is expected today in the US trading session, pushing the prices of BTCUSD below the $56,000 handle.

Bitcoin is now moving above its 100 hourly simple and exponential moving averages.

The average true range is indicating less market volatility which means that markets are due to enter into a consolidation phase soon.


Bitcoin’s Mild Bullish Trend Towards $58,000
(https://i.postimg.cc/HsNZpGG7/btc.png)

BTCUSD is now trading above its important support level of $56,500 and needs to remain above this level for the bullish trend to continue today.

Some of the major technical indicators are giving a STRONG SELL signal, which means that the prices can also get a downward correction before reaching the level of $60,000.

The price of BTCUSD is trading below its classic resistance level of $57,363 and Fibonacci resistance level of $57,478 in the European trading session.

In the last 24hrs BTCUSD has gone DOWN by -1.19% with a price change of -682$ and has a 24hr trading volume of USD 31.536 billion. We can see an increase of 7.64% in the trading volume as compared to yesterday.

The Week Ahead

We can see that bitcoin has recovered from its losses and is on its way towards the $58,000 handle this week.

The medium to long term outlook remains BULLISH for bitcoin with the target of $65,000. At present, the markets are giving a SELL signal so it would be better to wait before entering the long positions in bitcoin.

The relative strength index of 46 is indicating a NEUTRAL market and fresh buying is expected in the market at any time.

It is also possible for bitcoin to remain in a sub-consolidation phase below the $57,000 handle this week and start its bullish move next week.

Technical Indicators:

Stoch (9,6): at 97.13 indicating an OVERBOUGHT level

Average directional change (14-day): at 30.35 indicating a SELL

Rate of price change: at -0.288 indicating a SELL

Ultimate oscillator: at 39.55 indicating a SELL

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-30th-nov-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=btcusd_and_xrpusd_technical_analysis_30th_nov_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 01, 2021, 06:25:26 AM
EUR/USD Starts Fresh Increase, USD/JPY Bears Remain In Action
(https://i.postimg.cc/pLXGLvk2/Euro-EUR-1.jpg)

EUR/USD started a fresh increase above the 1.1300 resistance. USD/JPY is declining and might accelerate lower below the 113.00 support.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This week, the Euro started a steady increase above the 1.1280 resistance against the US Dollar. The EUR/USD pair gained pace for a move above the 1.1300 resistance.

The pair even broke the 1.1320 level and settled above the 50 hourly simple moving average. A high was formed near 1.1382 and there was a downside correction. A low was formed near 1.1235 on FXOpen and the pair is now rising.

EUR/USD Hourly Chart
(https://i.postimg.cc/s2MT5Jtq/EURUSD-Chart.jpg)

It broke the 50% Fib retracement level of the recent decline from the 1.1382 swing high to 1.1235 low. An immediate resistance on the upside is near the 1.1340 level.

The next major resistance is near the 1.1360 level. It is near the 76.4% Fib retracement level of the recent decline from the 1.1382 swing high to 1.1235 low. The main resistance is near the 1.1380 level, above which the pair could accelerate higher.

If there is no break above 1.1360, the pair might start a downside correction. An immediate support is near the 1.1280. The next major support is near 1.1270.

There is also a major bullish trend line forming with support near 1.1270 on the hourly chart of EUR/USD. Any more losses might push the EUR/USD pair towards the 1.1220 support in the near term.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/eur-usd-starts-fresh-increase-usd-jpy-bears-remain-in-action?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_starts_fresh_increase_usd_jpy-bears_remain_in_action_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 02, 2021, 06:36:17 AM
Global Share Price Growth Across the Decade

A Comparison of Global Companies Share price since 2011

Here at FXOpen, we are interested in the volatility of the stock market and our online share trading account provides clients with the opportunity to trade equity CFDs. Using CFD trading is a different way to invest in shares, as you don’t become the owner of the shares but take a position on whether the price will go up or down, speculating on the future share price of the company.

We have compared how some of the major global companies share price has changed over the past decade.

To demonstrate our findings, we have created an infographic which shows the percentage share increases of some of the world’s biggest companies in the last ten years and how they have compared against one another.

(https://i.postimg.cc/4Nc3gpPS/Final-Graphic.jpg)

Tesla tops growth over the past decade

In 2012 Tesla’s yearly percentage growth was minus 4%, yet the ten years since have told a completely different story, with their overall percentage increase since 2011 standing at 13,198%. Over double the growth of Netflix who sat second in the global companies we analysed.

The appetite for electric car models has increased in the past decade and that correlates with the rise in Tesla’s share price. Periods of strong sales and reviews have increased the share price over the last ten years.

The automotive company has seen huge rises in their share price since 2019. October 1st 2019 saw their share price at $62.98, while the same period in 2021 it had rise to $780.59, again due to strong sales and the entering of the S&P 500 in late 2020.

Netflix sees huge share price increase

Similar to Tesla, Netflix yearly growth from 2011-2012 was minus 3% but their share price has been soaring ever since, with the share price percentage increasing by over 5000% since 2011.

Due to international expansion in 2012 to Europe and a further 130 new markets in 2016, the subscription numbers have risen dramatically, with this year Netflix hitting 214 million subscribers, nearly ten times the subscribers they had in 2011.

Alongside global expansion, the streaming service started making their original content from 2012 which has been ever present in recent years and in 2012 for the first time they beat HBO as they received 112 Emmy nominations.

Netflix growth on the stock market dominated the other global companies we analysed, as it was the most successful company on the S&P 500 pre 2020. It has only been the past two years where Tesla share price growth levels have surpassed Netflix’s.

Technology giants see strong growth

In the past decade, Apple, Microsoft and Amazon have all seen impressive share price growth of over 1000% since 2011.

Since 2011 Amazon’s share price has seen the highest percentage growth out of the three global technology companies, with an increase of over 1400%. The mammoth growth shown by Amazon is largely due to the popularity of Amazon Prime, their subscription service which saw a huge increase in the pandemic due to consumers having to stay at home.

Microsoft (+1247%) and Apple (+1037%) have both seen their share price increase consistently in the past ten years. Microsoft have seen continued large scale growth on the stock market since the appointment of CEO Satya Nadella in 2014.

Apple share price is largely impacted due to their product demand. Their share price rose in 2015 as a result of the large iPhone screens success while recently they have seen a rise in their share price due to the strong demand of their iPhone 12 at the end of 2020.

Facebook shows huge returns in first decade on the stock market

Since Facebook went public in 2012, the world’s largest social media firm has seen massive growth in their share price. Initially going public at a share price of $38, by 2021 that had increased to over $300, giving an increase of 1477%.

Facebook shares have seen consistent strong growth owing to the increase numbers of active users and the aggressive growth strategy through acquisitions such as Instagram in 2012 and WhatsApp in 2014. Facebook’s growth in the past decade is significantly higher than its closest competitors, with Twitter’s share price actually decreasing by 4% over that time.

The social media company has had some dips during their time on the stock market so far, in particular in 2018 when 50 million people had their data compromised by Cambridge Analytica.

Pepsi v Coca Cola

Pepsi-Co and Coca Cola Corporation have been competitors in the non-alcoholic beverage industry for many years. But how does the share price of the two powerhouses compare?

Over the past ten years, the share price of Pepsi-Co has increased by 230%. This is nearly double the 116% increase that Coca Cola has seen since 2011. Both brands had a similar yearly percentage increase in 2012 but since then, the Pepsi-Co share price has seen greater increases than Coca-Cola.

All the global companies on the stock market that we have analysed have seen over 100% growth since 2011 but Tesla and Netflix lead the way with colossal share price increases in the last decade. However, over the past ten years the share price of global companies has shown volatility due to the demand for shares relying on various factors such as company success, news stories and wider economic trends.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/global-share-price-growth-across-the-decade?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=global_share_price_growth_across_the_decade_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 02, 2021, 11:13:45 PM
Stock CFD trading thwarted by exit of energy and utility companies? Not today!
(https://i.postimg.cc/1RdzKPTf/energyx.jpg)

The past few months have proven very uncertain for a large percentage of the British public as a very unusual circumstance took the energy and utilities market by storm.

Since the summer of 2021, over 20 energy and utilities companies have exited the British market, many of which have gone bankrupt due to the rising cost of oil and gas and the inability of these companies to be able to pass that cost on to their customers.

This has created what is being described as a 'cost of living crisis' as the remaining large energy providers have now been left to onboard those whose services have ended, meaning that bills have gone up for a large percentage of the UK population.

Some of the now defunct energy companies were privately held, however some had their stock publicly listed on the London Stock Exchange, meaning that they were sizeable entities in their own right.

It would therefore be quite understandable for investors and traders to shy away from utilities or energy company stocks at this point in time, especially given the ultra-conservative approach many firms have taken in trying to absorb some of the increased logistical, supply chain and raw materials cost themselves in order to avoid passing it onto customers who are already cash-strapped and therefore could end up getting into debt with their bills, that energy companies may well be not in favour.

Actually, that is not quite the case, as United Utilities PLC, a large British water company, is experiencing a steady increase in investor confidence.

Its value was relatively flat during November, however all of a sudden at the end of the month United Utilities stock began to rise going from £10.94 per share on November 17 to £10.95 by November 26.

Suddenly, the price dropped on December 1, but this morning it has risen once again and recovered very quickly shortly after the opening bell at the London trading session.

Currently, United Utilities is trading at £10.90 per share which is 0.6% up on yesterday, and 1.35% over the weekly moving average.

Whilst these do not necessarily sound like large movements, they are for a utilities company at this particular time, and the trendline that shows investor confidence with steady upward growth with a minor blip of downward volatility yesterday which was very quickly recovered.

Therefore, United Utilities performance on the London market is perhaps a breath of fresh air to traders who have previously enjoyed the blue chip, evergreen nature of utility companies and have recently had their plans thwarted by the exit of many energy firms from the market.

Going with the flow has certainly a double meaning on this occasion!

FXOpen Blog (http://"https://www.fxopen.com/blog/en/stock-cfd-trading-thwarted-by-exit-of-energy-and-utility-companies-not-today?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=classics_wihout_borders_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 02, 2021, 11:40:20 PM
ETHUSD and LTCUSD Technical Analysis – 02nd DEC, 2021
(https://i.postimg.cc/pLm0wQX2/photo8.jpg)

ETHUSD: Bullish Engulfing Pattern Above $4,400

Ethereum had a major bearish correction last week when it declined towards the $4,000 handle after touching a high of $4,551.

ETHUSD started this week in a consolidation phase after which it had a bullish reversal towards $4,700 and touched an intraday high of $4,776 in today’s Asian trading session.

We can clearly see a bullish engulfing pattern above $4,400 which signifies a trend reversal, and ETHUSD crossing $4,700.

Ethereum price has retracted from its highs due to some profit-taking, but the bullish channel continues, and this week, we are aiming for the upsides of $4,700 and $4,900.

ETH is now trading above its pivot level of $4,524 and moving in a mild bullish momentum. The price of ETHUSD has already broken its classic resistance level of $4,545, its Fibonacci resistance level of $4,555, and is now aiming towards the $4,600 handle in the US trading session.

Moving averages are giving a NEUTRAL signal.

ETH is now trading above both its 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Channel Towards $4,900 Confirmed
(https://i.postimg.cc/zXtt22Nt/etxx.jpg)

ETHUSD is consolidating its gains above $4,500 in the European trading session and we can clearly see that the bullish channel is back.

We are now aiming for the upsides of $4,600 to $4,700 in today’s US trading session. The retracement from $4,000 was very strong, which suggests that there is more room for upsides in Ethereum this month, and $5,500 is the next target.

At present, technical indicators are giving a SELL signal which means that in the immediate short-term we will see a decline before the continuation of a bullish channel.

ETH has declined by -4.26% with a price change of -202.85$ in the past 24hrs and has a trading volume of 26.670 billion USD.

We can see a decrease of 11% in the trading volume as compared to yesterday, which means that new buyers are not entering the markets and waiting for further correction in the levels of Ethereum.

Ethereum Gains in 2021

We have seen the prices of Ethereum increasing continuously throughout 2021. Starting from $730 on 1st Jan 2021, Ether is currently trading at $4,568, yielding a gain of 625% to its investors — more than Bitcoin during the same period of time.

Ethereum’s performance in 2021 is commendable. The current market valuation of this second-largest cryptocurrency stands at 540.52 billon USD.

A number of leading crypto analysts have also predicted that in the next 5 years, Ethereum could outperform bitcoin and become the topmost cryptocurrency in the world.

The Week Ahead

Ether is printing above $4,500 today, and this week, we could $4,700 to $4,900.

The medium to long-term outlook for Ether in December remains bullish with targets of above $5,000.

Ether has already broken its major resistance level of $4,580 and is now facing the next resistance level of $4,800.

Technical Indicators:

Commodity channel index (14-day): indicating a NEUTRAL market

Moving averages convergence divergence (14-day): at -27.11 indicating a SELL

Average directional change (14-day): indicating a NEUTRAL market

Rate of price change: at -2.386 indicating a SELL

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-02nd-dec-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=ethusd_and_ltcusd_technical_analysis_02nd_dec_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 03, 2021, 07:27:02 AM
Gold Price and Crude Oil Price Aim Fresh Increase
(https://i.postimg.cc/Qt8vwrcW/Gold-price-oil-price.jpg)

Gold price is attempting a fresh increase above the $1,780 resistance zone. Crude oil price could gain pace if there is a clear move above the $68.00 level.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price started a fresh decline from well above the $1,820 pivot level against the US Dollar. The price declined heavily and it even broke the $1,800 support zone.

The price even settled below the $1,800 level and the 50 hourly simple moving average. Finally, there was a break below the $1,780 support zone. A low was formed near $1,761 on FXOpen and the price is now correcting higher.

Gold Price Hourly Chart
(https://i.postimg.cc/bvHKmvSh/Gold-Price-Chartx.jpg)

There was a recovery wave above the $1,770 level. The price surpassed the 23.6% Fib retracement level of the recent decline from the $1,795 swing high to $1,761 high.

An immediate resistance on the upside is near the $1,775 level. There is also a key bearish trend line forming with resistance near $1,775 on the hourly chart of gold. The next major resistance is near the $1,780 level.

The 50% Fib retracement level of the recent decline from the $1,795 swing high to $1,761 high is also near $1,780. The main resistance is near the $1,800 level. A close above the $1,800 level could open the doors for a steady increase towards $1,820.

The next major resistance sits near the $1,840 level. On the downside, an initial support is near the $1,765 level. The first major support is near the $1,760 level. A downside break below the $1,760 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,720 support.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-aim-fresh-increase?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gold_price_and_crude_oil_price_aim_fresh_increase_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 06, 2021, 06:20:07 AM
GBP/USD and GBP/JPY At Risk of More Downsides
(https://i.postimg.cc/K8w8sMz1/GBPUSD-Sterling.jpg)

GBP/USD started a fresh decline and traded below the 1.3300 support zone. GBP/JPY is also trading in a bearish zone and is facing hurdles near 150.00.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound started a fresh decline after it failed near 1.3360 against the US Dollar. The GBP/USD pair broke the 1.3320 and 1.3300 support levels to enter a bearish zone.

There was also a break below the 1.3260 support zone and the 50 hourly simple moving average. It traded as low as 1.3207 on FXOpen and is currently consolidating losses. It recovered a few points above the 1.3230 level.

GBP/USD Hourly Chart
(https://i.postimg.cc/zXdBKMYS/GBPUSD-Chartx.jpg)

There was a break above the 23.6% Fib retracement level of the recent decline from the 1.3308 swing high to 1.3207 low.

The pair is now facing resistance near the 1.3260 level. It is close to the 50% Fib retracement level of the recent decline from the 1.3308 swing high to 1.3207 low. There is also a major bearish trend line forming with resistance near 1.3280 on the hourly chart of GBP/USD.

A close above the 1.3280 level could open the doors for more gains. The next major hurdle is near 1.3315 and the 50 hourly SMA, above which the pair could surge towards 1.3350.

On the downside, an immediate support is near the 1.3220 level. The next major support is near the 1.3200 level. If there is a break below the 1.3200 support, the pair could test the 1.3150 support. If there are additional losses, the pair could decline towards the 1.3050 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-and-gbp-jpy-at-risk-of-more-downsides?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_and_gbp_jpy_at_risk_of_more_downsides_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 07, 2021, 01:52:03 PM
Concern over winter restrictions create bull market for Gold
(https://i.postimg.cc/W4nJX7kj/fcx.jpg)

There is no doubt that the aversion to risk by many traders is there for all to see, especially when looking at the falling price of physical commodities such as gold.

As the trading week begins today on this wintery 6th of December, a quick glance at recent performance would show that gold had been down 1.21 points as it closed 0.07% down at the end of the trading day on Friday last week.

That in itself may not seem like too much of a drop in value, but considering the steady climb that gold prices have taken during the last two years, a sudden downturn is worthy of note.

This morning, however, it began to rise against the US dollar as the European markets open, with a general consideration among traders that the rise in price from last week's fall is down to risk aversion which has pulled down real interest rates.

With real interest rates now in negative figures, gold is being viewed once again as a de facto store of value by investors taking a longer term view on the markets and who do not want to go in for the wild rides that the crypto market has been experiencing lately.

Whilst the crypto market has certainly gained huge appeal among those who see it as a double-edged virtue; that being the circumvention of the centralized markets which have been subject to all manner of geopolitical circumstances recently as well as the chance to finally get into a genuinely volatile market and realize quick returns, there are still a huge number of investors worldwide who are looking to minimize their risks during times of uncertainty, and uncertain times throughout history have resulted in gold price rises.

Another area of interest which is perhaps causing a move toward confidence in the value of gold is the potential reaction to the sensationalist news reports about Omicron, the latest nomenclature to hit the news after several previous attempts to stir up fear among the corporate world and the investing community.

Although a week has passed since the Omicron name made its way to the public via the international press and various soundbites from global governments, there is still a degree of uncertainty as to how this will be utilized by the policymakers and therefore physical commodities are becoming favourable once again.

Gold was down against the US dollar by 2.6 points at close of business on Friday, but begins the trading session this morning with an increase of 0.26% which can be attributed toward this sentiment considering that there are no important market announcements scheduled this week which could otherwise affect the price differences between spot FX and commodities other than the US CPI figures for November which are due to be announced on Friday.

December is a relatively quiet month for market-related news announcements, therefore it is likely that all eyes will be on the geopolitical effect created by any reactions by governments with regard to Omicron, and whether this will drive investors toward stores of value such as gold and cryptocurrency.

As this week gets off to a start, there certainly is some evidence toward that.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/concern-over-winter-restrictions-create-bull-market-for-gold/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 07, 2021, 02:11:23 PM
BTCUSD and XRPUSD Technical Analysis – 07th DEC, 2021
(https://i.postimg.cc/x80w2nsB/fdd.jpg)

BTCUSD: Rounding Bottom Pattern Above $46,000

Bitcoin suffered heavy losses on Dec 4th, which was primarily driven by liquidation of the holdings from the long-term investors in the markets.

Additionally, the Dec 4th bitcoin plunge occurred due to the Omicron coronavirus variant which saw BTC touching a low of $45,000.

We saw BTCUSD touch a high of $59,157 on 30th Nov, and form a bullish momentum before entering a consolidation channel above $55,000.

Today, bitcoin is back in the bullish channel and trading above the $50,000 handle in the European trading session.

We can clearly see a rounding bottom pattern above the $46,000 handle which signifies that the markets have entered into a bullish uptrend.

In the US Trading session, bitcoin is trading in a consolidation phase and is expected to continue doing so.

The short-term outlook for bitcoin has turned MILDLY BULLISH.

Both the Stoch and StochRSI are indicating an OVERBOUGHT level, which means that in the immediate short-term, a decline in the price is expected.

Bitcoin is now moving above its 100 hourly simple and exponential moving averages.

The average true range is indicating lesser market volatility which means that markets will enter a consolidation phase soon.


Bitcoin: Trend Reversal Towards $60,000 Confirmed
(https://i.postimg.cc/rmGB3K9S/btc.png)

BTCUSD has already recovered its losses from last week and is now trading above the important psychological support level of $50,000.

We will need to see a confirmation of the uptrend once the prices hit the $52,000 handle some time later today.

Some of the major technical indicators are giving a STRONG SELL signal, which means that the prices can also get a downward correction before reaching the level of $60,000.

The price of BTCUSD is trading below its classic resistance level of $51,345 and Fibonacci resistance level of $51,478 in the European trading session.

In the last 24hrs, BTCUSD has gone UP by 6.62% with a price change of $3,170 and a 24hr trading volume of USD 37.942 billion. We can see an increase of 12.54% in trading volume as compared to yesterday.

The Week Ahead

We can see that bitcoin has recovered from last week’s losses and is on its way towards reaching the $58,000 handle this week.

The medium to long-term outlook remains BULLISH for bitcoin with the target of $62,000. At present, the markets are giving a BUY signal, so it would be best to enter long positions in bitcoin.

The relative strength index of 65 is indicating a BULLISH channel, and fresh buying is expected in the markets at any time.

We can see that the fears related to Omicron are vanishing, and new investors are coming back to the markets which also explains the increased market volatility today.

Technical Indicators:

Stoch (9,6): at 99.04 indicating an OVERBOUGHT level

Average directional change (14-day): at 50.66 indicating a BUY

Rate of price change: at 4.047 indicating a BUY

Moving averages convergence divergence (12,26): at 553.80 indicating a BUY

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-07th-dec-2021/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 08, 2021, 07:45:15 AM
EUR/USD and EUR/JPY: Euro Eyes Fresh Increase
(https://i.postimg.cc/V6mZ0RXt/Euro-Dollar.jpg)

EUR/USD is attempting a fresh increase from the 1.1220 support zone. EUR/JPY is rising, but it is facing hurdles near 128.30 and 128.50.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro started a major decline after it struggled to clear the 1.1350 resistance against the US Dollar. The EUR/USD pair broke the 1.1300 support zone to move into a bearish zone.

The pair even traded below the 1.1250 support and settled below the 50 hourly simple moving average. A low was formed near 1.1227 on FXOpen and the pair is now correcting losses. There was a break above the 1.1260 level.

EUR/USD Hourly Chart
(https://i.postimg.cc/fLC2c9vr/EURUSD-Chart-1x.jpg)

The pair even spiked above the 1.1285 resistance level. There was a clear move above a major bearish trend line with resistance near 1.1280 on the hourly chart.

It is now facing resistance near the 1.1300 zone and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the downward move from the 1.1357 swing high to 1.1227 low. The next major resistance is near the 1.1315 level.

It is close to the 61.8% Fib retracement level of the downward move from the 1.1357 swing high to 1.1227 low. The main resistance is forming near the 1.1320 and 1.1335 levels. A clear break above the 1.1335 resistance could push EUR/USD towards 1.1400.

On the downside, the 1.1250 level is a major support. Any more losses might lead EUR/USD towards the 1.1200 support zone in the near term. The next major support sits near the 1.1150 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/eur-usd-and-eur-jpy-euro-eyes-fresh-increase-2?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_and_eur_jpy_euro_eyes_fresh_increase_2_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 10, 2021, 06:31:38 AM
ETHUSD and LTCUSD Technical Analysis – 09th DEC, 2021
(https://i.postimg.cc/ydYBwY8W/3d.jpg)

ETHUSD: Ascending Channel Pattern Above $4,000

Ethereum continues its consolidation phase remaining above the $,4300 handle in the European trading session today.

ETHUSD is slowly preparing itself for its next move against the US dollar. The price continues to recover from its decline below the $4,000 level.

We can clearly see an ascending channel pattern above $4,000 which signifies that the price will continue to rise aiming upwards of $4,500 to $4,700.

ETH is now trading just above its pivot level of $4,374 and moving in a bullish ascending channel. The price of ETHUSD is about to break its classic resistance level of $4,418, its Fibonacci resistance level $4,403, and is now aiming towards the $4,500 handle in the US trading session.

All the major technical indicators are giving a NEUTRAL signal.

ETH is now trading above its 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Trend Towards $4,700 Confirmed
(https://i.postimg.cc/rsDTwnWk/4d.png)

In today’s early Asian trading session today, ETHUSD continues to move in a consolidation channel after touching an intraday high of $4,479 and an intraday low of $4,345 in the European trading session.

Today’s relative strength index is NEUTRAL which signifies a potential bullish trend.

It is best to enter into long positions in Ethereum at the present market level of $4,380 with a target of $5,000 for the next month.

The average true range is indicating a lower market volatility as we can see a drop of 11.76 in the trading volume as compared to yesterday. This is because the market was in a consolidation phase and the buyers were waiting for a bullish pattern, which is clearly visible now.

ETH has gained +0.55% with a price change of +23.84$ in the past 24hrs, and has a trading volume of 18.912 billion USD.

Bitcoin vs Ethereum Gains in 2021
(https://i.postimg.cc/1tCPPh8B/5d.png)

The gains observed in Ethereum have been outstanding as compared to bitcoin during the same period of time. This is because Ether’s underlying technology is far superior to bitcoin’s, which only serves as a mode of payment transfer and Investments.

The demand for Ethereum is currently stronger due to its leading role in the emerging industry of decentralized finance (DeFi), as well as non-fungible tokens (NFTs).

The Week Ahead

Ether is printing above $4,300 today, and this week, we could see a levels of $4,500.

The medium to long-term outlook for Ether remains bullish with targets of above $5,000 the next month.

We have observed an $10 billion increase in Ethereum’s market cap which currently stands at $520 billion.

We have detected an MA50 crossover pattern which signifies a bullish trend in the coming days. A mullish crossover pattern is also seen in the MA20.

Technical Indicators:

Ultimate oscillator: at 49.448 indicating a NEUTRAL market

Moving averages convergence divergence (14-day): at 6.88 indicating a BUY

MA200 (exponential): at 4298.74 indicating a BUY

Rate of price change: at 0.403 indicating a BUY

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-09th-dec-2021/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 10, 2021, 06:54:20 AM
Gold Price Faces Hurdles While Crude Oil Price Is Recovering
(https://i.postimg.cc/3x8z9fSF/Gold-price-oil-price-2.jpg)

Gold price is attempting a fresh increase above the $1,785 resistance zone. Crude oil price is recovering and could gain pace if there is a clear move above the $73.20 level.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price started a fresh decline from well above the $1,800 zone against the US Dollar. The price declined heavily, and it even broke the $1,780 support zone.

The price even settled below the $1,800 level and the 50 hourly simple moving average. Finally, there was a break below the $1,770 level. A low was formed near $1,761 on FXOpen before there was a recovery wave.

Gold price hourly chart
(https://i.postimg.cc/TYqZVv9P/Gold-Price-Chart-1x.jpg)

The price climbed above $1,780, but it stayed below $1,800. A high was formed near $1,792 and the price corrected lower. There was a break below the $1,785 level and the $1,780 support.

The price even traded below the 50% Fib retracement level of the upward move from the $1,761 swing low to $1,792 high. There was also a break below a key bullish trend line with support near $1,784 on the hourly chart of gold.

However, the bulls remained active near $1,774. The price is also stable above the 61.8% Fib retracement level of the upward move from the $1,761 swing low to $1,792 high.

An immediate resistance on the upside is near the $1,780 level and the 50 hourly simple moving average. The main resistance is near the $1,785 level. A close above the $1,785 level could open the doors for a steady increase towards $1,800.

The next major resistance sits near the $1,820 level. On the downside, an initial support is near the $1,774 level.

The first major support is near the $1,760 level. A downside break below the $1,760 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,740 support.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gold-price-faces-hurdles-while-crude-oil-price-is-recovering/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 13, 2021, 09:08:47 AM
GBP/USD Aims Recovery While EUR/GBP Is Sliding
(https://i.postimg.cc/Qx32pgCk/fc.jpg)

GBP/USD is attempting a recovery wave above the 1.3220 resistance. EUR/GBP is declining and is gaining pace below the 0.8550 level.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis
(https://i.postimg.cc/VLW34Sby/GBPUSD-Chart-33x.jpg)

The British Pound declined heavily below the 1.3300 level against the US Dollar. The GBP/USD pair formed a base above the 1.3265 level and recently started an upside correction.

The pair recovered above the 1.3200 resistance level. There was a break above the 50% Fib retracement level of the downward move from the 1.3289 high to 1.3163 low (formed on FXOpen). Besides, there was a break above a major bearish trend line with resistance near 1.3240 on the hourly chart of GBP/USD.

The pair is now trading near the 1.3250 level and the 50 hourly simple moving average. It is close to the 76.4% Fib retracement level of the downward move from the 1.3289 high to 1.3163 low.

On the upside, an initial resistance is near the 1.3265 level. If there is an upside break above the 1.3450 resistance and the 50 hourly SMA, the price could surpass 1.3280. The main resistance is near the 1.3300 zone.

Therefore, a proper break above the 1.3300 resistance could open the doors for a steady increase. The next major resistance for the bulls could be 1.3350. If not, the pair could start a fresh decline below 1.3220. An immediate support is near the 1.3200 level.

The first key support is near the 1.3180 level. Any more losses could lead the pair towards the 1.3150 support zone. The next major support sits near the 1.3080 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-aims-recovery-while-eur-gbp-is-sliding-2/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 13, 2021, 09:27:55 AM
Will We See Santa Rally This December?
(https://i.postimg.cc/yYFzt1kK/santa.jpg)

As this trading, pandemic-stricken year is nearing its end, the one thing left to emphasize is the stock market's rally. Not all market indices have rallied, for example, emerging markets: their indices performed poorer than developed markets by more than 20%.

The strongest rally happened in the United States. All major indices, Dow Jones, Nasdaq 100, and S&P 500, are nearing their all-time highs. Nothing could deter their advance. For most of the year, the tapering of asset purchases had been the main reason to expect a correction. The Fed did announce tapering, a small correction did happen, but only for bulls to step in and buy the dip again.

With the Fed's meeting looming large next week, is it possible for stocks to reach their new all-time highs? Also, is a Santa Rally possible even with the Fed turning hawkish?

What is a Santa Rally — and what are the chances to see one This December?
(https://i.postimg.cc/K8xyy6MM/stocks.jpg)

Stocks tend to rally later in December, hence the Santa Rally name. A close look at the chart above shows that the chances for a Santa Rally are quite high. Most rallies occur after December 20, and if, say, the S&P 500 goes up more than 20% YTD, as is the case this year, it will outperform the average December return. The performance record dates back to 1950, so it is fair to say the likelihood is high for the stock's rally going on.

Furthermore, after this year’s negative November, December has delivered a positive return of 2.7% on average, with a probability of 86.3%. In other words, investors are betting on continuation of the economic recovery despite Omicron fears and the Fed's intentions to tighten the policy.

All in all, a Santa Rally is not just a possibility but a probability; 86.3% is enough to keep buyers in control.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/will-we-see-santa-rally-this-december/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 14, 2021, 01:56:01 PM
Get Ready For December’s Most Important Trading Week
(https://i.postimg.cc/L8btvGkY/fomc.jpg)

The most important trading week of the month has started, and traders are preparing for a sharp increase in volatility. No less than four central banks are expected to announce their monetary policy decisions, which will raise the currency market’s volatility.

Moreover, the moves may be exacerbated by lower liquidity levels typical for December. After all, December is known for most of the investment houses decreasing their market activity in light of the end-of-the-year holidays.

Inflation pressures central banks to tighten the monetary policy sooner than they would have wanted too. Last week, the US November inflation data showed that the prices of goods and services increased by 6.8% YoY, a rate not seen in the last 39 years. Therefore, the pressure on the Fed and other central banks increases to normalize their policies.
(https://i.postimg.cc/rpRSHggh/us-inflation.jpg)

What to expect from the FOMC meeting on Wednesday

The Fed is due to announce its decision on Wednesday. The risk is that it will have a more hawkish tone than the markets expect as higher inflation is threatening the Fed’s mandate of price stability.

A couple of weeks ago, the Fed’s chair, Jerome Powell, announced that it is time to stop describing inflation as “transitory”. The problem with higher inflation in the States is that it will be exported to other parts of the world due to global trade partnerships, and also to the fact that the US is the largest economy in the world.

Three central banks to announce policy decisions on Thursday

One day after the Fed’s decision, three central banks will announce their monetary policy stance: the Swiss National Bank, the Bank of England, and the European Central Bank. Out of the three, the focus will be on the BOE and the ECB, because the Swiss National Bank is not expected to change its policy.

In the UK, while no rate hike is expected, the market participants will focus on the MPC asset purchase facility votes. Just like in the case of the Fed, the risk is that the BOE will be hawkish.

Finally, the ECB is facing a tough decision. The euro was weak all year, reflecting the bank’s dovishness. On the one hand, it does not plan to hike in 2022, in sharp contrast with the Fed. On the other hand, higher inflation forces its hand to taper asset purchases, a move that may be perceived as hawkish by financial markets.

This is what makes this trading week the most important in December. After Friday, volatility will decline as investors prepare for the end of the year festivities and holidays.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/get-ready-for-decembers-most-important-trading-week/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 14, 2021, 02:19:37 PM
BTCUSD and XRPUSD Technical Analysis – 14th DEC, 2021
(https://i.postimg.cc/wT3ZvYB3/dc.jpg)

BTCUSD: Head and Shoulders Pattern Below $50,000

Bitcoin was unable to sustain its bullish momentum on 12th Dec and declined after having touched a high of $50,701. We can observe a continuous fall since it touched its all-time high of $59,119 on 30th Nov.

This fall in BTCUSD can also be attributed to the broad-based December selling in crypto markets; this is a time when global investors seem to withdraw their profits and investments due to the upcoming Christmas and New Year holiday season.

In today’s European trading session, bitcoin is again back in the bearish channel, trading below the $50,000 handle.

We can clearly see a  head-and-shoulders pattern below the $50,000 handle which signifies a fall in the price of Bitcoin and a continuation of the bearish downtrend.

At present, the price of bitcoin has entered a consolidation phase below the $48,000, and this is expected to continue in the US trading session.

Both the Stoch and StochRSI are indicating an OVERBOUGHT level, which means that in the immediate short-term, a decline in the price is expected.

Bitcoin is moving below its both 100 hourly simple and exponential moving averages.

The average true range is indicating a lesser market volatility, which means that markets will be entering a consolidation phase soon.


Bitcoin: Bearish Momentum Below $50,000 Confirmed
(https://i.postimg.cc/1X7dHJv9/chrt.png)

BTCUSD is struggling to keep itself above the $50,000 mark, and we can see a mild bullish channel which suggests that a further decline can be expected.

Some of the major technical indicators are giving a SELL signal, which means that the price will fall below $45,000 soon.

In the European trading session, the price of BTCUSD is trading above its classic support level of $46,708 and Fibonacci support level of $46,594.

In the last 24hrs, BTCUSD has gone DOWN by 3.74% with a price change of $1,830, and has a 24hr trading volume of USD 33.547 billion. Compared to yesterday, there was a 41.25% increase in the trading volume. This increase happened thanks to the increased selling pressure, as well as liquidation of bitcoin holdings by investors.

The Week Ahead

Bitcoin continues tumbling down from its Nov 30th all-time high of $59,119. A further decline will push it below the $45,000 handle.

The medium to long-term outlook remains BULLISH for bitcoin, with a target of $55,000. At present, the markets are giving a SELL signal, so it would be best to enter into short positions.

The relative strength index of 42 is indicating a bearish channel, and fresh selling is expected in the markets at any time. This is also due to the renewed fears related to the Omicron coronavirus variant, and many countries shutting down their international borders.

Technical Indicators:

Stoch (9,6): at 98.95 indicating an OVERBOUGHT level

Average directional change (14-day): at 42.60 indicating a SELL

Rate of price change: at -0.837 indicating a SELL

Moving averages convergence divergence (12,26): at -447.70 indicating a SELL

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-14th-dec-2021/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 14, 2021, 02:37:36 PM
The low Turkish Lira and the tourism opportunity
(https://i.postimg.cc/KzjLSfZk/lira.jpg)

Turkey, a huge nation which is home to over 84 million people, is in an interesting position economically and politically and has been for some time.

The current economic outlook is one of surprising doom, and the focus over the past day by mainstream economists in Western countries has been on the anticipation of a rate cut which has caused the Lira to plunge to a new low, which is quite a significant market event given that it began this month at a very low value.

Yesterday was a particularly interesting session for the Lira, given that it was trading at 14.33 to the dollar at 1:25 p.m. in Istanbul, representing a slight recovery from the record low of 14.99 earlier in the day but still languishing at all time lows.

The mere thought that a commonly-traded currency which is not a major and could be considered to be one of the 'exotics' which is often traded against majors would plunge to a lower value than ever recorded could well prove to be a point of interest among traders and market participants.

Turkey may well be having a fiscal apocalypse in the eyes of its own central bank and policymakers and financial leaders globally, as the nation's own central bank began to intervene directly in the FX market on Monday this week by selling dollars to prop up the lira, but there are two sides to this situation which could lead to some degree of volatility.

Whilst President Recep Tayyip Erdogan has taken a hardline stance against raising interest rates, Turkey's finance minister aligns with the idea as do many global economists which agree would actually aid the currency and go toward stemming the rampant inflation, which is now at approximately 20%.

Thus, the currency is in the doldrums but the wider economy of Turkey has perhaps some degree of potential, as it is one of the only countries within which tourism makes up a vast percentage of the national industry base which is welcoming tourists without many restrictions.

In 2018, Tourism directly accounted for 7.7% of total employment in Turkey, directly employing 2.2 million people and total income from tourism was 3.8% of GDP.

The nation's nominal per capita income - effectively the average salary per person - in Turkey is $9,300 which is considerably short of the national average per capita GDP in Western nations which are home to major currencies, which means that any movement in the all important tourist industry makes all the difference to the outlook within Turkey and therefore could directly affect the value of the Lira

Turkey's government has officially announced just three weeks ago that it will not be implementing any lockdowns going forward, and Turkey remains open to tourists.

Every year, over one million British tourists flock to Turkey's sun-soaked resorts and with those resorts very much open for business, the possibility of restrictions being implemented across the United Kingdom over the winter period and the low value of the Turkish lira meaning that British travelers get more bang for their buck, it could be that the Turkish economy may get a boost from those looking for an escape from further curtailment of freedoms to a warmer climate for a few weeks with a great exchange rate.

Many residents of Germany visit Turkey each year, some for vacation and others to visit their families and FX transactions between Germany and Turkey put the Euro and the Lira against each other very regularly.

Given Germany's current strict Covid rules, Turkey's low value Lira and open society with little restrictions may appeal.

Bearing in mind the internal issues of inflation and a beleaguered economy and the restrictions in Europe which may drive an open-for-business Turkish tourist industry forward, there may be some degree of volatility in the Lira when traded against the Euro or the Pound.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/the-low-turkish-lira-and-the-tourism-opportunity/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 15, 2021, 05:54:07 AM
EUR/USD and USD/CHF: Dollar Could Gains Momentum
(https://i.postimg.cc/k5W9Bk73/Euro-EUR-USD-1.jpg)

EUR/USD is struggling to gain momentum above the 1.1300 zone. USD/CHF is rising, and it might extend gains above the 0.9250 level.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro attempted an upside break above the 1.1325 resistance zone against the US Dollar. The EUR/USD pair failed to gain strength above 1.1325 and started a fresh decline.

There was a clear break below the 1.1300 and 1.1280 support levels. Besides, there was a break below a key bullish trend line with support near 1.1270 on the hourly chart of EUR/USD. The pair even broke the 1.1260 support and the 50 hourly simple moving average.

EUR/USD Hourly Chart
(https://i.postimg.cc/ydBK9vNJ/EURUSD-Chart-2x.jpg)

It traded as low as 1.1250 on FXOpen and is consolidating losses. On the upside, an initial resistance is near the 1.1272 level. The 23.6% Fib retracement level of the recent decline from the 1.1326 swing high to 1.1250 low is also near 1.1272.

The next major resistance is near the 1.1285 zone. It is near the 50% Fib retracement level of the recent decline from the 1.1326 swing high to 1.1250 low. A clear upside break above the 1.1300 zone could open the doors for a steady move.

The next major resistance sits near the 1.1325 level. On the downside, an immediate support is near the 1.1250 level. The next major support is near the 1.1220 level.

A downside break below the 1.1220 support could start another decline. The next major support sits near 1.1150.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/eur-usd-and-usd-chf-dollar-could-gains-momentum?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_and_usd_chf_dollar_could_gains_momentum_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 15, 2021, 01:49:14 PM
GBP/USD Aims Recovery While EUR/GBP Is Sliding
(https://i.postimg.cc/HkDTL3Xy/gbp-1.jpg)

GBP/USD is attempting a recovery wave above the 1.3220 resistance. EUR/GBP is declining and is gaining pace below the 0.8550 level.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound declined heavily below the 1.3300 level against the US Dollar. The GBP/USD pair formed a base above the 1.3265 level and recently started an upside correction.

The pair recovered above the 1.3200 resistance level. There was a break above the 50% Fib retracement level of the downward move from the 1.3289 high to 1.3163 low (formed on FXOpen). Besides, there was a break above a major bearish trend line with resistance near 1.3240 on the hourly chart of GBP/USD.

The pair is now trading near the 1.3250 level and the 50 hourly simple moving average. It is close to the 76.4% Fib retracement level of the downward move from the 1.3289 high to 1.3163 low.

On the upside, an initial resistance is near the 1.3265 level. If there is an upside break above the 1.3450 resistance and the 50 hourly SMA, the price could surpass 1.3280. The main resistance is near the 1.3300 zone.

Therefore, a proper break above the 1.3300 resistance could open the doors for a steady increase. The next major resistance for the bulls could be 1.3350. If not, the pair could start a fresh decline below 1.3220. An immediate support is near the 1.3200 level.

The first key support is near the 1.3180 level. Any more losses could lead the pair towards the 1.3150 support zone. The next major support sits near the 1.3080 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-aims-recovery-while-eur-gbp-is-sliding/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 15, 2021, 02:25:35 PM
Is the EURUSD heading for parity?
(https://i.postimg.cc/zfCpTDyj/dc.jpg)

We have all been here before.

Despite the major currencies not being particularly volatile for many years, the differences between those on each side of the Atlantic is now becoming quite marked and has perhaps been the direction to watch for a considerable period of time.

Today, the EURUSD pair is trading at 1.13, which is the second-lowest point in over one year.

Just a month ago, at the beginning of this strong and continual period of downward movement for the 'cable' pair, analysts in senior positions in Wall Street and the City of London were beginning to consider the possibility that the EURUSD pair's value may make a return to that of 2014 when parity was almost achieved.

Given that many of the more industrially developed nations within the Eurozone have become subject to further restrictions at the hands of their respective governments, confidence has been affected as market participants take into account the potential effect slower production and less effective working practices in Austria, Germany and Holland could have on the wider Eurozone's stability.

In particular, Germany, which has a population of over 80 million and a traditional industry base which requires employees to attend their place of work as opposed to many large scale, high producing businesses in the Anglosphere which are often internet based or intrinsically linked to the big tech giants, therefore meaning working from pretty much anywhere would not stifle output.

Germany's largest employers are heavy manufacturing businesses such as Volkswagen, Bosch and Siemens, all of which require staff to travel to their factories. Restrictions being implemented by the national government would have a direct impact on this.

Whilst the US government is also talking about introducing restrictions, it has not brought in any Covid passport system yet, and has only done so for travel purposes whilst some of the European nations are doing so for access to everyday events and there is concern that this may extend to workplaces.

Looking at the EURUSD pair one month ago, it was trading at a healthy 1.22 which had been the case for quite a number of months, however as the year draws to a close we are looking at a clear downward line.

Just two weeks ago, the euro-Swiss franc pair fell below parity on November 1 for the first time in almost a year, echoing the same sentiment among traders.

At the beginning of this month, options traders were investing in options with longer expiry dates even before the euro dropped below 1.15, showing that a conservative approach is the current default.

Whether we will see parity or not is yet to be determined, however this is a really unusual downturn and has been on this trajectory for long enough to make it a real feature within the FX market.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/is-the-eurusd-heading-for-parity/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 16, 2021, 04:04:39 PM
ETHUSD and LTCUSD Technical Analysis – 16th DEC, 2021
(https://i.postimg.cc/T1hfbQ82/cx.jpg)

ETHUSD: Double Bottom Pattern Above $3,600

Ethereum started this week on a mild bullish tone by touching a high of $4,169 after which the decline started pushing its prices below the $4,000 handle.

We saw Ethereum touching an intraday low of $3,654 yesterday, after which fresh buying in the market pushed its prices all the way above the $4000 mark. The recovery was also backed by the Three Arrows Capital hedge fund purchasing $56 million worth of Ether.

ETHUSD is slowly preparing itself for its next move against the US dollar.

We can clearly see a double bottom pattern above $3,600, which signifies the end of a downtrend and a shift towards an uptrend.

ETH is now trading just above its pivot level of $3,998 and moving in a bullish ascending channel. The price of ETHUSD is about to break its classic resistance level of $4,048, its Fibonacci resistance level of $4,035, and is now aiming towards the $4,200 handle in the US trading session.

All the major technical indicators are giving a STRONG BUY signal.

ETH is now trading above its 100 hourly and below its 200 hourly simple moving averages.


Ether: Bullish Reversal towards $4,200 Confirmed
(https://i.postimg.cc/QCPsJ5sQ/eth.png)

ETHUSD has recovered from its losses and is now moving in the consolidation phase below the $4,200 handle in the European trading session.

Stoch and average directional change are indicating a NEUTRAL market.

We can see a 34.50% increase in the trading volume as compared to yesterday,  because the market was in a consolidation phase, and today, new buyers have entered as the bullish pattern is clearly visible.

ETH has gained +4.58% with a price change of +176.90$ in the past 24hrs and has a trading volume of 26.810 billion USD.

The Week Ahead

Ether is now waiting for its next move against the US dollar. We can see that the price continues to hold above the important psychological support level of $4,000.

The medium to long-term outlook for Ether remains bullish with targets of $4,500 to $5,000 in January 2022.

This is also a time when long-term investors tend to liquidate their holdings and withdraw the profits. Because of the coming end-of-year Christmas and New Year holidays, the liquidity will remain low and the advances limited.

We have detected an MA5 crossover pattern which signifies a bullish trend in the coming days. A bullish crossover pattern is also seen in the MA100.

Technical Indicators:

Ultimate oscillator: at 54.75 indicating a BUY

Moving averages convergence divergence (14-day): at 54.07 indicating a BUY

Commodity channel index (14days): at 34.51 indicating a NEUTRAL market

Rate of price change: at 8.161 indicating a BUY

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-16th-dec-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=ethusd_and_ltcusd_technical_analysis_16th_dec_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 17, 2021, 09:19:17 AM
AUD/USD and NZD/USD Remains Supported On Dips
(https://i.postimg.cc/T1mH93n3/AUD-22.jpg)

AUD/USD gained pace after there was a clear move above 0.7200. NZD/USD is correcting gains, but dips might be limited below the 0.6750 support.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar started a major increase after it formed a base above the 0.7100 level against the US Dollar. The AUD/USD pair gained pace for a move above the 0.7200 for sustained upward move.

The pair even broke the 0.7220 resistance zone and the 50 hourly simple moving average. It traded as high as 0.7223 on FXOpen before it started a downside correction. There was a move below the 0.7210 and 0.7200 levels.

AUD/USD Hourly Chart
(https://i.postimg.cc/BQ9zv2GL/AUDUSD-Chart.jpg)

The pair traded below the 23.6% Fib retracement level of the upward move from the 0.7093 swing low to 0.7223 high. The pair is now testing the 0.7155 level and the 50 hourly simple moving average.

It is finding bids near the 50% Fib retracement level of the upward move from the 0.7093 swing low to 0.7223 high. There is also a key bullish trend line forming with support near 0.7135 on the hourly chart of AUD/USD.

If there is a downside break below the 0.7135 support, the pair could extend its decline towards the 0.7100 level. On the upside, an immediate resistance is near the 0.7180 level.

The next major resistance is near the 0.7200 level. A close above the 0.7200 level could start a steady increase in the near term. The next major resistance could be 0.7250.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-remains-supported-on-dips?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=aud_usd_and_nzd_usd_remains_supported_on_dips_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 20, 2021, 06:30:00 AM
GBP/USD Continues To Struggle, USD/CAD Gains Momentum
(https://i.postimg.cc/5ttVDhkd/GBPUSD-British-Pound.jpg)

GBP/USD failed to recover and declined below the 1.3250 support. USD/CAD is rising and is showing positive signs above the 1.2850 support.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After a major decline, the British Pound found support above 1.3180 against the US Dollar. GBP/USD started a recovery wave above the 1.3300 level, but it failed to continue higher.

A high was formed near 1.3374 on FXOpen and the pair started a fresh decline. There was a break below the 1.3320 and 1.3300 support levels. The pair traded below the 50% Fib retracement level of the upward move from the 1.3173 swing low to 1.3374 high.

GBP/USD Hourly Chart
(https://i.postimg.cc/85JVzhSZ/GBPUSD-Chart-2x.jpg)

It is now trading below the 1.3250 level and the 50 hourly simple moving average. There was a break below a key bullish trend line with support near 1.3235 on the hourly chart of GBP/USD.

An immediate resistance is near the 1.3250 level. The first major resistance is near the 1.3300 level. If there is an upside break above the 1.3300 zone, the pair could rise towards 1.3350.

The next key resistance could be 1.3375, above which the pair could gain strength. On the downside, the first key support is near the 1.3220 area. It is near the 76.4% Fib retracement level of the upward move from the 1.3173 swing low to 1.3374 high.

If there is a break below 1.3220, the pair could decline extend its decline. The next key support is near the 1.3200 level. Any more losses might call for a test of the 1.3150 support.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-continues-to-struggle-usd-cad-gains-momentum?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_continues_to_struggle_usd_cad_gains_momentum_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 21, 2021, 03:32:31 PM
Will 2022 Be the Year of the Japanese Yen?
(https://i.postimg.cc/N0JyCqsV/jap.jpg)

The Japanese yen (JPY) was one of the currencies that depreciated the most this year. Even in the late December trading, the JPY is at its yearly lows, especially against the dollar.

This is somehow surprising, considering the Fed’s tapering, but stocks outperformed during the year, justifying the weakness in the JPY pairs.

The yen is viewed as a safe-haven currency that appreciates in times of uncertainty and depreciates when the stock market is bullish. But recently, the JPY pairs’ rally has been stalling. For instance, the USD/JPY pair had difficulty finding buyers above 115, while the EUR/JPY found sellers above 133.

Is the change in leadership good for the JPY? The newly appointed Prime Minister Fumio Kishida has big spending plans to stimulate Japanese economic growth, which might be key to how the JPY will perform in 2022.
(https://i.postimg.cc/2611Pc35/jpy.jpg)

Three Reasons to Buy the JPY in 2022

To start with, the economic recovery in Japan lagged the one in other parts of the world. A late vaccination campaign led to a delay in the economic reopening. Thus, the economy may move near to its full potential going forward.

A brighter economic outlook should bode well for inflation. Forecasts point to inflation moving higher in the period ahead but to remain far from the 2% target. In any case, inflationary problems are not exacerbated in Japan, compared to rival economies, which may further spur economic growth, thus favoring the currency.

Finally, there is a whopping accumulation of 3.7% of GDP in excess savings. Consumers choose to save for various reasons, such as the COVID-19 pandemic uncertainties, but, when injected into the economy, these funds will support further economic expansion.

For many years, the JPY has been perceived as a safe-haven currency, just like the Swiss franc. Is it time for the JPY to start reflecting the strength of the local economy? If that is the case, stronger than expected economic growth should trigger a more dominant JPY in the year ahead.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/will-2022-be-the-year-of-the-japanese-yen/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 21, 2021, 03:35:42 PM
The Pound regains its losses against the Euro; will it continue?
(https://i.postimg.cc/L63jkWPd/pound.jpg)

November has been an interesting time for the Euro, as the Eurozone's economic leaders have been dominating the headline news throughout November and December.

Unlike the economic landscape of the United States or Britain, home to the Euro's major currency pair rivals, the member states within the European Union that are the most economically important to the Eurozone have been subjected to clear and defined sets of restrictions which have in some cases excluded entire demographics from conducting business.

A few days ago, the Euro plunged to a new four-week low, however it had begun to rebuild its position against the Pound, with many traders appearing to show a bearish perspective for the immediate future value of the Pound, largely because of the general consensus that there could be a lockdown implemented in the United Kingdom within the next few days.

This morning, however, the talks which were set to be held by the British government were postponed until after the holiday period, meaning that it is very likely that there will be no lockdown in the United Kingdom, and businesses will be able to operate as usual. Given that this particular period of the year is usually a time during which many people take time out from work and spend on two things; entertainment and shopping.

Traditionally, the British High Street is the place of choice for many people on the day after Christmas Day, when bargains are to be had and millions of Pounds are spent in retail shops.

Had they been forced to close, that would have put a large percentage of British business in a no-revenue situation.

Prior to the shopping comes the reveling. On Christmas Eve, many people head out to town centres to enjoy food and drink, and with the hospitality sector in full swing and no Christmas lockdown looming, the cash will likely flow freely.

Meanwhile in Europe, some experienced analysts and traders are considering the likelihood of an extensive shutdown, which many see as a catalyst which could drive markets down, therefore are looking to hedge their assets and cover themselves.

For that reason, The Euro is now quite volatile against the British Pound, with the GBPEUR pair rising back up to 1.17 from its dip earlier this week, and having gone out of its 4-week low at the end of last week.

Whilst the lockdowns and restrictions in Europe may not have yet traveled across the English Channel, there is still a cautious sentiment among traders of the Pound and FTSE 100 stock in case there is a reintroduction of restrictions before New Year's Day.

Hospitality and airline stocks are definitely ones to watch, but the main interest here will likely be currencies as the difference between the ability to spend the holiday period doing retail therapy and socializing in bars and restaurants may differ between Europe and the United Kingdom, therefore leading to less potential revenues for retail and hospitality businesses and an economy even more bruised compared to one that may be able to recouperate some of its losses.

Either way, volatility in the GBPEUR pair is a rarity, and perhaps one to keep an eye on over the next few days.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/the-pound-regains-its-losses-against-the-euro-will-it-continue/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 22, 2021, 07:11:48 AM
BTCUSD and XRPUSD Technical Analysis – 21st DEC, 2021
(https://i.postimg.cc/90ry8Cwg/bt.jpg)

BTCUSD: Double Bottom Pattern Above $45,000

Bitcoin started the week on a bearish tone by breaking the $46,000 handle, and touching a low of $45,578 in yesterday’s US trading session.

After this decline, we saw a renewed buying pressure which continues to push the prices higher in today’s European trading session.

The global fall in cryptocurrencies is happening because of the emergence of the Omicron coronavirus variant, as well as the approaching ending of the year whereby the investments in the financial markets is at its lowest.

Bitcoin has gone back in the bullish channel and been trading above the $48,000 handle; we could see more upsides in the range of $49,000 to $49,500 later today.

Now, we can clearly see a double-bottom bullish reversal pattern above the $45,000 handle signifying the end of a downtrend and a shift towards an uptrend.

At present, the bitcoin price is trading in a consolidation phase above the $48,000 handle, which is expected to continue in the US trading session.

Both the Stoch and StochRSI are indicating an OVERBOUGHT level meaning that in the immediate short-term, a decline is expected.

Bitcoin is now moving above its both 100 hourly simple and exponential moving averages.

The average true range is indicating a lesser market volatility, which means that markets will enter a consolidation phase soon.


Bitcoin’s Bullish Reversal Above $45,000 Confirmed
(https://i.postimg.cc/fypm1pxz/btc.png)

We can now see that the bullish trend for bitcoin remains intact, and the prices are expected to cross the important psychological resistance level of $50,000 very soon.

All of the major technical indicators are giving a STRONG BUY signal, which means that we can expect a fresh rally coming into the markets any time.

The price of BTCUSD is now facing its classic resistance level of $48,691 and Fibonacci resistance level of $48,808, after which the path towards $50,000 will get cleared.

In the last 24hrs, BTCUSD has gone UP by 5.17% with a price change of $2,393, and has a 24hr trading volume of USD 31.610 billion. We can see an Increase of 11.33% in the trading volume as compared to yesterday. This increase happened thanks to the increased buying pressure after the confirmation of the bullish channel.

The Week Ahead

We can see that bitcoin has started its long overdue upside correction, and the price has reached the consolidation level above the $48,000 mark.

The medium to long-term outlook remains BULLISH for bitcoin with targets of $52,000 to $55,000.

The relative strength index is above 70, indicating a stronger demand for buying BTCUSD in the markets.

At present, long-term buyers can enter into markets with a time frame of 6 months to 1 year.

90% of Bitcoins Mined

Over the course of 12 years, 90% of all bitcoins have been mined, explaining the increase in global circulation levels and market liquidity of available coins.

According to the Bitcoin founder Satoshi Nakamoto, the total supply is 21 million; the mining  of the remaining 10%, however, will take 120 years due to the halving process.

Crypto in 2021

In 2021, we saw massive inflows in crypto and bitcoin, something that led to the increase in total market capitalization and massive gains for long-term investors who had invested in the beginning of the year.

In total, we saw capital inflow of more than USD 30 billion — this is why 2021 has been nicknamed the Year of Crypto. In comparison, the capital inflow in 2018 was at USD 8 billion, the second best year for crypto investors globally.

Technical Indicators:

Relative strength index (14-day): at 73.68 indicating a BUY

Average directional change (14-day): at 47.40 indicating a BUY

Rate of price change: at 5.542 indicating a BUY

Moving averages convergence divergence (12,26): at 496.50 indicating a BUY

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-21st-dec-2021/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 22, 2021, 07:51:33 AM
EUR/USD and USD/CHF: Dollar Bulls In Control
(https://i.postimg.cc/k5qhg1HM/Euro-Pound-Yen.jpg)

EUR/USD is still struggling to gain momentum above the 1.1320 zone. USD/CHF is rising, and it might extend gains above the 0.9250 level.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro attempted an upside break above the 1.1350 resistance zone against the US Dollar. The EUR/USD pair failed to gain strength above 1.1350 and started a fresh decline.

There was a clear break below the 1.1320 and 1.1300 support levels. The pair even broke the 1.1280 support and the 50 hourly simple moving average. It traded as low as 1.1235 on FXOpen and is correcting losses.

EUR/USD Hourly Chart
(https://i.postimg.cc/VNgZr9yq/EURUSD-Chart-3x.jpg)

On the upside, an initial resistance is near the 1.1285 level. The 38.2% Fib retracement level of the recent drop from the 1.1360 swing high to 1.1235 low is also near 1.1285.

There is also a key bearish trend line forming with resistance near 1.1288 on the hourly chart of EUR/USD. The next major resistance is near the 1.1300 zone. It is near the 50% Fib retracement level of the recent drop from the 1.1360 swing high to 1.1235 low.

A clear upside break above the 1.1300 zone could open the doors for a steady move. The next major resistance sits near the 1.1350 level. On the downside, an immediate support is near the 1.1255 level. The next major support is near the 1.1235 level.

A downside break below the 1.1235 support could start another decline. The next major support sits near 1.1200.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/eur-usd-and-usd-chf-dollar-bulls-in-control-2?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_and_usd_chf_dollar_bulls_in_control_2_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 24, 2021, 12:33:42 AM
ETHUSD and LTCUSD Technical Analysis – 23rd DEC, 2021
(https://i.postimg.cc/DfJ55v7V/px.jpg)

ETHUSD: Head and Shoulders Pattern Below $4,000

Ethereum was unable to sustain its bullish momentum and started its decline below the $4,000 handle in the Asian trading session today.

ETHUSD touched an intraday low of $3,894; the selling pressure continues in the European trading session. We can clearly see a head-and-shoulders pattern below the $4,000 handle which signifies that the prices will break out into a bearish downtrend.

ETH is now trading just below its pivot level of $3,926 and is moving in a bearish descending channel. The price of ETHUSD is about to break its classic support level of $3,890 and its Fibonacci support level of $3,903, after which the path towards $3,800 will get cleared.

All the major technical indicators are giving a STRONG SELL signal.

ETH is now trading below both its 100 hourly and 200 hourly simple moving averages.


Ether Bearish Trend Below $4,000 Confirmed
(https://i.postimg.cc/4y9535W4/etx.png)

ETHUSD continues to move in a bearish channel with the price breaking below the important psychological support level of $4,000.

The relative strength index is below 50 today, which signifies a continuation of the bearish trend.

The amount of selling that is seen in Ethereum can also be attributed to the liquidation of crypto assets by global investors before the end of this financial year.

The average true range is indicating a low market volatility, and we can see an increase of 10.67% in the trading volume, as compared to yesterday.

We can also see Ethereum’s decoupling from bitcoin which means that the correlation between BTC and ETH is dropping.

ETH has lost -2.67% with a price change of 107.06$ in the past 24hrs, and has a trading volume of 15.165 billion USD.

The Week Ahead

Ether is printing below the $4,000 mark today, and we can expect the downtrend to continue this week pushing its price down to the levels of $3,800 and $3,750.

The immediate short-term outlook for Ether has turned negative, but the medium to long-term outlook remains bullish with the next month target of above $5,000. The recent downturn has also led to the decline in the market capitalization of Ethereum to 467.11 billion USD.

We are now looking at the end-of-the-year market liquidation where many of the investors are selling their long-term holdings in Ethereum; they are expected to be back in the markets in the month of January 2022.

Technical Indicators:

Ultimate oscillator: at 48.80 indicating a SELL

Moving averages convergence divergence (14-day): at -19.80 indicating a SELL

StochRSI (14-day): at 26.95 indicating a SELL

Commodity channel index (14-day): at -132.99 indicating a SELL

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-23rd-dec-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=ethusd_and_ltcusd_technical_analysis_23rd_dec_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 24, 2021, 08:01:49 AM
Gold Price and Crude Oil Price Could Extend Gains
(https://i.postimg.cc/TwxKPtS0/Gold-price-oil-price-1.jpg)

Gold price is gaining pace above the $1,800 resistance zone. Crude oil price is also rising and the bulls could attempt an upside break above $74.00.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price started a fresh increase from the $1,785 support zone against the US Dollar. The price gained pace above the $1,800 level to move further into a positive zone.

The price settled well above the $1,800 level and the 50 hourly simple moving average. There was also a break above a major bearish trend line with resistance near $1,794 on the hourly chart of gold. Finally, there was a break above the $1,810 level.

Gold price hourly chart
(https://i.postimg.cc/vmf1MJPD/Gold-Price-Chart-2x.jpg)

A high is formed near $1,812 on FXOpen and the price is now consolidating gains. On the downside, an initial support is near the $1,807 level. It is near the 23.6% Fib retracement level of the upward move from the $1,785 swing low to $1,812 high.

The first major support is near the $1,800 level. It is near the 50% Fib retracement level of the upward move from the $1,785 swing low to $1,812 high. A downside break below the $1,800 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,785 support.

On the upside, the price is facing resistance near the $1,812 level. The main resistance is near the $1,815 level. A close above the $1,815 level could open the doors for a steady increase towards $1,825. The next major resistance sits near the $1,840 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-could-extend-gains?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gold_price_and_crude_oil_price_could_extend_gains_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 27, 2021, 09:00:50 AM
GBP/USD and GBP/JPY Target Additional Gains
(https://i.postimg.cc/d0KLP3Kh/GBPUSD-Cable-Sterling.jpg)

GBP/USD started a fresh increase from the 1.3180 zone and climbed above 1.3300. GBP/JPY is also rising and trading above the 152.00 resistance.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

After a major decline, the British Pound found support near the 1.3180 zone against the US Dollar. The GBP/USD pair started a fresh increase above the 1.3220 and 1.3300 resistance levels to move into a positive zone.

There was also a break above the 1.3350 zone and the 50 hourly simple moving average. It traded as high as 1.3427 on FXOpen and is currently consolidating gains.

GBP/USD Hourly Chart
(https://i.postimg.cc/fbjkwswB/GBPUSD-Chart-3x.jpg)

There was a minor decline below the 1.3420 level. On the downside, an immediate support is near the 1.3380 level. It is near the 23.6% Fib retracement level of the upward move from the 1.3173 swing low to 1.3427 high.

There is also a major bullish trend line forming with support near 1.3365 on the hourly chart of GBP/USD. The next major support is near the 1.3300 level.

The 50% Fib retracement level of the upward move from the 1.3173 swing low to 1.3427 high is also near the 1.3300 zone. If there is a break below the 1.3300 support, the pair could test the 1.3250 support. If there are additional losses, the pair could decline towards the 1.3150 level.

On the upside, the pair is facing resistance near the 1.3420 level. A close above the 1.3420 level could open the doors for more gains. The next major hurdle is near 1.3450, above which the pair could surge towards 1.3500.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-and-gbp-jpy-target-additional-gains?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_and_gbp_jpy_target_additional_gains_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 28, 2021, 03:19:33 PM
BTCUSD and XRPUSD Technical Analysis – 28th DEC, 2021
(https://i.postimg.cc/7P9j22jn/btcxrp.jpg)

BTCUSD: Double Top Pattern Below $52,000

Bitcoin was unable to sustain its bullish moves this week. After touching a high of $52,008, it declined to a low of 48740 in the Asian trading session today.

At present, the markets are ranging in a consolidation phase below the $50,000 handle, and we may see more downward pressure in the coming days.

Bitcoin has gone back into a bearish channel and is trading below the $50,000 handle. We can see more downsides in the range of $49,000 to $48,500 later today.

We can clearly see a double top pattern below the $52,000 level, which signifies the end of an uptrend and a shift towards a downtrend.

Both the Stoch and Williams percent ranges are indicating an OVERBOUGHT level, meaning that in the immediate short-term a decline in the prices is expected.

Bitcoin is now moving below its 100 hourly simple and exponential moving averages.

The average true range is indicating a high market volatility which means that markets are due to decline further.


Bitcoin: Bearish Reversal Below $52,000 Confirmed
(https://i.postimg.cc/9013XRH1/btcchart.png)

Bitcoin is forming a bearish trend pattern which means that the prices can start declining further due to the selling pressure that is coming into global cryptocurrency markets.

All of the major technical indicators are giving a STRONG SELL signal, which means that in the immediate short-term we are expecting targets of $49,000 and $48,000.

The price of BTCUSD is now facing its classic support level of $49,077 and Fibonacci support level of $49,111 after which the path towards $48,500 will get cleared.

In the last 24hrs, BTCUSD has gone DOWN by -2.83% with a price change of 1436$, and has a 24hr trading volume of USD 30.797 billion. We can see an Increase of 49.60% in the trading volume as compared to yesterday.

This increase in the trading volume of BTC is happening because of the increased selling pressure which, in turn, has been triggered by the end-of-the-year market liquidation and profit taking by global investors.

The Week Ahead

Bitcoin has now started its downside correction as the bears managed to bring its price below the important psychological support level of $50,000.

The short-term outlook is negative, but the medium to long-term outlooks remain BULLISH for bitcoin, with targets of $55,000 to $60,000 in 2022.

The relative strength index is below the 35 mark indicating a weaker demand for bitcoin and a heavy selling pressure in the BTCUSD market.

We can expect to see the level of $48,500 before the end of 2021.

BTC Options Market

As 2021 comes to an end, bitcoin is facing a huge options expiration on 31st Dec 2021.

Around 5.7 billion USD worth of BTC options will expire on the Deribit exchange, which will increase the liquidity in the bitcoin markets globally.
(https://i.postimg.cc/SQGbf5Y8/btco.jpg)

The total combined value of bitcoin options will be valued at 10.7 billion USD.

Technical Indicators:

Relative strength index (14-day): at 32.33 indicating a SELL

Average directional change (14-day): at 46.25 indicating a SELL

Rate of price change: at -4.503 indicating a SELL

Moving averages convergence divergence (12,26): at -411.70 indicating a SELL

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-28th-dec-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=btcusd_and_xrpusd_technical_analysis_28th_dec_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 29, 2021, 06:49:13 AM
EUR/USD Could Recover, EUR/JPY Extends Rally
(https://i.postimg.cc/4dM6gQWs/Euro-EUR-4.jpg)

EUR/USD is facing a major resistance near the 1.1335 and 1.1350 resistance levels. EUR/JPY is rising and showing positive signs above the 129.50 level.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro made a few attempts to gain strength above the 1.1335 and 1.1350 resistance levels against the US Dollar. The EUR/USD pair struggled to gain pace and started a fresh decline from the 1.1335 zone.

The pair traded below the 1.1320 support and settled below the 50 hourly simple moving average. A low was formed near 1.1290 on FXOpen and the pair is now correcting losses. There was a break above the 1.1300 level.

EUR/USD Hourly Chart
(https://i.postimg.cc/fy9xTSPX/EURUSD-Chart-4x.jpg)

The pair spiked above the 50% Fib retracement level of the downward move from the 1.1335 swing high to 1.1290 low.

It is now facing resistance near the 1.1310 level. The next major resistance is near the 1.1320 level. It is near the 76.4% Fib retracement level of the downward move from the 1.1335 swing high to 1.1290 low. The main resistance is forming near the 1.1335 and 1.1350 levels.

A clear break above the 1.1350 resistance could push EUR/USD towards 1.1400. On the downside, the 1.1300 level is a major support. There is also a key bullish trend line forming with support near 1.1300 on the hourly chart.

Any more losses might lead EUR/USD towards the 1.1220 support zone in the near term. The next major support sits near the 1.1200 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/eur-usd-could-recover-eur-jpy-extends-rally?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_could_recover_eur_jpy_extends_rally_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 29, 2021, 03:49:29 PM
Inflation fears rising as 6% looks possible: Will interest rates rise?
(https://i.postimg.cc/4yccPgKj/boex.jpg)

Today is the first working day for many people within the world's most developed financial markets centers after the festive holidays, and among predictions of interesting potential market movements for the year ahead and optimism relating to interesting new blockchain technology which is part of the revolutionary direction in finance at the moment, a nagging elephant in the room lurks.

That elephant in the room is inflation, that age-old consideration which, no matter how high the technology that powers the world's financial system these days has become, is a metric that still remains one of the most important measures of economic circumstances.

As the markets begin to open across Europe today for the first time in a few days, many analysts are predicting further rises in inflation, which in the United Kingdom, one of the world's largest financial markets economies and home to the most valuable major currency in the world - the Pound - has been at an 11 year high of 5.1% for a few weeks.

Today's rather alarming predictions from Resolution Foundation, which is a government think tank, have demonstrated that inflation could rise to 6% in the United Kingdom, a rate which has already been reached in the United States. Should this happen, it would be the highest inflation Britain's economy will have experienced since 1992.

Should this occur, the economy will likely be affected by a combination of stalled real wages and rising costs of services and everyday products, and if Resolution Foundation's predictions are correct and a 6% rate of inflation occurs by April 2022, the average British household's costs are likely to rise by approximately £1,200 which will be another woe to accompany the energy price rises and tax hikes that have been noticeable over recent months.

Resolution Foundation's 11-page report which was published this morning explains that the beginning of the year is likely to be a period in which the pressure on living standards that many households are already facing could evolve in an environment in which price rises outstrip pay growth.

The think tank has branded the Spring of 2022 to be a period of a 'broad-based cost of living catastrophe affecting the vast majority of households'

Looking forward a few years, it is possible that real wages could be £740 per year lower than they would have been if there had been no lockdowns or disruptions to the economy since March 2020.

Where does this leave interest rates?

So far, the Bank of England has not increased interest rates, despite that being a priority subject at the Bank of England meetings recently.

Perhaps this is because the Bank of England understands that when interest rates are increased, it potentially cripples the economy. The last time this was done in ernest was in 1991 when the interest rate was over 10% and mass home repossessions took place due to mortgage payment unaffordability.

The Bank of England has tried to stave that off so far, however the question remains as to how long businesses can swallow the cost of inflation and not be able to pass it on to their already cash-strapped customers.

Interestingly, the Pound is up against the US Dollar this morning at 1.34, showing that the currency markets are not fazed by this news.

The same applies to the Pound's value against the Euro, which is now at 1.19. These increases in values by the Pound against its major counterparts occurred specifically as the news broke, which is interesting considering that the British economy could be in serious trouble this coming year.

Perhaps those with an analytical focus have noticed that the United States has been battling with even higher inflation for some time now yet it has not become a flagging economy to the extent that such a high rate of inflation has caused in the past... yet!

Given the uncertainty of the effect of these high levels of inflation in a modern world in which the financial economy is very different to how it was 30 years ago, the way it will be overcome is unknown. Perhaps comparisons with the Eurozone and the US have paved the way for a reasonably buoyant Pound which appears to have gone the opposite way to what would be expected on the arrival of such news.

Additionally, there has been no lockdown in England, whereas there has in Scotland and Wales, when many were expecting the British government to lock down the entire United Kingdom as a routine matter of course, which did not happen.

The hospitality businesses across England are about to welcome a deluge of residents of Wales and Scotland who have vowed to go across the border to celebrate New Year, giving that industry a much needed boost.

Perhaps 2022 will be a year of volatility and changing circumstances. Either way, this is a very interesting start and something of a white knuckle ride.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/inflation-fears-rising-as-6-looks-possible-will-interest-rates-rise?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=inflation_fears_rising_as_6_looks_possible_will_interest_rates_rise_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 30, 2021, 04:01:31 PM
ETHUSD and LTCUSD Technical Analysis – 30th DEC, 2021
(https://i.postimg.cc/DwVWBGgY/dc.jpg)

ETHUSD – Rounding Bottom Pattern Above $3,600

Ethereum continued its bearish trend this week, and touched a low of $3,584 in the Asian trading session today, after which the prices have stabilized above the $3,600 handle.

Most of the selling witnessed in Ethereum was due to the end-of-the-year profit-taking by long-term investors, and at current levels, we can now see some buying in the markets.

ETHUSD continues to recover from its losses today and entered into a consolidation phase above $3,600.

We can clearly see a rounding bottom pattern above the $3,600 handle which signifies a trend reversal towards a bullish uptrend.

ETH is now trading just below its pivot levels of $3,706 and moving in a bullish consolidation channel. The price of ETHUSD is about to break its classic resistance level of $3,722 and its Fibonacci resistance level of $3,734, after which the path towards $3,800 will get cleared.

All the major technical indicators are giving a BUY signal.

ETH is now trading below both the 100 hourly and 200 hourly simple moving averages.


Ether: Mild Bullish Trend Reversal seen Above $3,600
(https://i.postimg.cc/pLDm7dcV/eth.png)

ETHUSD is on its way to recover from its losses this week, and has entered into a consolidation phase above $3,600.

We can see a mildly bullish channel in progression today which if confirmed will push the prices of ETHUSD above $3,800 before the end of 2021.

Overall market scenario for Ethereum appears to be NEUTRAL.

StochRSI is indicating an OVERBOUGHT level which means more downward correction could also take place in the prices before the start of an upswing trend.

The average true range is indicating low market volatility, and we can see an increase of 12.16% in the trading volume as compared to yesterday.

ETH has lost -2.00% with a price change of -75.26$ in the past 24hrs and has a trading volume of 17.005 billion USD.

The Week Ahead

Ether is slowly recovering from its losses, and the price continues to uptick in the European trading session today.

We have detected an MA 10 and MA 5 crossover pattern which indicates a bullish reversal of the trend, and if this pattern continues, we can test levels of $3,800 to $3,850 very soon.

The immediate short-term outlook for Ether has turned positive; the medium to long-term outlook for Ether remain bullish with the target of above $5,000 in January 2022

The recent downturn has also led to the decline in the market capitalization of Ethereum to 439.44 billion USD.

Ethereum’s Transformation in 2022

In 2022, Ethereum will transition to Proof of Stake, which will bring in many advantages to the underlying network. The most notable are lower energy consumption, decentralization and scalability.

The change to the Proof of Stake will eliminate Ethereum’s mining and reduce the power consumption required to sustain the network. This change is expected to bring down the total energy level consumption by 99%. The change will also implement sharding and scalability that will lower the transaction costs of Ethereum.

Technical Indicators:

Ultimate oscillator: at 54.93 indicating a BUY

STOCH (9,6): at 66.95 indicating a BUY

Williams percent range: at -37.68 indicating a BUY

Average directional change (14-day): at 36.62 indicating a BUY

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-30th-dec-2021?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=ethusd_and_ltcusd_technical_analysis_30th_dec_2021_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 03, 2022, 06:18:13 AM
GBP/USD Gains Momentum While EUR/GBP Eyes Recovery
(https://i.postimg.cc/d0bPTDDc/GBPUSD-Sterling-1.jpg)

GBP/USD gained pace and there was a move above the 1.3500 resistance. EUR/GBP is attempting an upside break above the 0.8420 resistance zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound formed a support base above the 1.3400 zone against the US Dollar. The GBP/USD pair started a steady upward move after it broke the 1.3450 resistance zone.

The pair recovered above the 1.3500 resistance level and the 50 hourly simple moving average. A high was formed near 1.3550 and the pair is now correcting gains. There was a break below the 1.3540 and 1.3520 levels.

GBP/USD Hourly Chart
(https://i.postimg.cc/1zn1tDmK/GBPUSD-Chartx.jpg)

The pair traded below the 50% Fib retracement level of the upward move from the 1.3465 low to 1.3550 high. The pair is now trading near the 1.3500 level.

There is also a key rising channel forming with support near 1.3490 on the hourly chart of GBP/USD. The channel is near the 61.8% Fib retracement level of the upward move from the 1.3465 low to 1.3550 high.

On the upside, an initial resistance is near the 1.3520 level. If there is an upside break above the 1.3520 resistance, the price could surpass 1.3550. The next main resistance is near the 1.3600 zone.

If there is no upside break, the pair could start a fresh decline below 1.3500. An immediate support is near the 1.3480 level.

The first key support is near the 1.3450 level. Any more losses could lead the pair towards the 1.3400 support zone. The next major support sits near the 1.3320 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-gains-momentum-while-eur-gbp-eyes-recovery?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_gains_momentum_while_eur_gbp_eyes_recovery_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 04, 2022, 02:03:55 PM
BTCUSD and XRPUSD Technical Analysis – 04th JAN 2022
(https://i.postimg.cc/wB5fsHs2/cx.jpg)

BTCUSD: Double Bottom Pattern Above $45,000

Bitcoin started this week on a bearish tone, and the price continued to slide touching a low of $45,725 on 3rd January, after which we can see some fresh buying in bitcoin markets globally.

Some pullback action can be observed in the European trading session today, and the prices of BTCUSD are ranging above the $46,000 handle.

We can clearly see a double bottom pattern above $45,000, which signifies the end of a downtrend and a shift towards an uptrend.

Both Stoch and StochRSI are indicating an OVERBOUGHT level, meaning that in the immediate short-term, a decline in the prices is expected.

With global cryptocurrency markets staging mixed trading signals we will have to wait before entering into any buying positions in bitcoin.

The relative strength index is at 52 indicating a NEUTRAL market and a move towards a market consolidation phase.

Bitcoin is now moving below its 100 hourly simple and exponential moving averages.

The average true range is indicating a lesser market volatility which means that markets are due to enter into a consolidation phase.


Bitcoin: Bullish Reversal Above $45,000 Confirmed
(https://i.postimg.cc/pdMcTyyy/btc.png)

Bitcoin is forming a bullish trend pattern which means that the prices can start moving upwards due to the buying pressure that is coming into the global cryptocurrency markets.

The moving averages are giving a NEUTRAL signal; however, we have detected a MA 20 crossover pattern which is an indication for the bullish reversal of the markets. This bullish trend is mild and will have to wait till we can see a STRONG BUY signal from the moving averages.

All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short-term we are expecting targets of $47,000 and $48,000.

The price of BTCUSD is now facing its classic resistance level of $46,639 and Fibonacci resistance level of $46,731, after which the path towards $47,000 will get cleared.

In the last 24hrs, BTCUSD has gone DOWN by -1.01% with a price change of 477$, and has a 24hr trading volume of USD 34.438 billion. We can see an Increase of 19.26% in the trading volume as compared to yesterday. This increase is due to the increased buying pressure seen after the recent decline in bitcoin.

The Week Ahead

We can see that bitcoin has started its upside correction after the decline and continues to trade above $46,500.

The recent decline we saw from the high of $68,984 reached on 10th November, 2021, happened due to the profit taking and the market liquidation by big investors and the global hedge funds.

The downside wave correction now seems to be finally over and we are ready for an upswing move towards the $50,000 handle in January 2022.

The short-term outlook is positive; the medium to long-term outlook remains BULLISH for bitcoin with targets of $55,000 to $60,000 in 2022.

BTC Gains in 2021

In 2021, we saw a 66% gain in bitcoin, which was lower than Ethereum’s 421% jump.

In contrast, we saw a marginal decline in the value of gold without any gains, whereas the US S&P 500 saw gains of 31% during the same period.

Bitcoin still remains the topmost cryptocurrency of the world with a total market capitalization of 881.48 billion USD.

Technical Indicators:

Commodity channel index (14-day): at 161.63 indicating a BUY

Average directional change (14-day): at 36.94 indicating a BUY

Rate of price change: at 0.399 indicating a BUY

Bull/bear power (13-day): at 316.27 indicating a BUY

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-04th-jan-2022/")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 04, 2022, 02:09:24 PM
All Eyes On Friday’s US Jobs Report
(https://i.postimg.cc/wjnMsYd1/nfp.jpg)

Finally, we left 2021 behind, and the investing community is preparing for what the new year has in store for financial markets. Already, some important economic data is due out this week, despite some market participants still being on their winter break.

For example, banks in Europe, the UK, the US, and Canada are closed today. As such, volatility is likely to remain subdued and levels to hold. However, things are about to change as the market will build momentum towards the most important economic release of the week, the non-farm payrolls (NFP, or, alternatively, the jobs) report.

As a rule, NFP reports are released on the first Friday of the new month, and show the evolution of the US jobs market. Because the Federal Reserve of the US (aka the Fed) has job creation as part of its mandate, changes in the job market may affect the Fed’s interest rate decision

Both the number of jobs created and the unemployment rate are important for market participants, especially if they show that the Fed comes closer to its definition of full employment. If so, the US dollar should get a boost as inflation is already running well above the Fed’s definition of price stability.
(https://i.postimg.cc/FKcRyC9D/nfp2.jpg)

What do we expect of Friday’s release?

This Friday’s data will refer to December 2021, and the market expects the US economy to create 410k jobs, and the unemployment rate to further decline to 4.1%. The November data showed that the US economy added 210k new jobs, but the unemployment rate was affected by the fact that people have quit their jobs, giving the impression that the unemployment rate is low.

One interesting detail to watch out for is the labor force participation rate change. In November, it increased, but has remained well below its pre-pandemic level. High unemployment and aging numbers justify the decline partially, so more evidence is needed from future releases.

All in all, expect the price action to build momentum towards Friday’s release as more market participants become active.

FXOpen Blog (http://"https://www.fxopen.com/blog/en/all-eyes-on-fridays-us-jobs-report/")



Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 05, 2022, 07:19:24 AM
EUR/USD Struggle Continues, USD/JPY Extends Rally
(https://i.postimg.cc/L8yX2Dfv/Euro-Pound-Yen.jpg)

EUR/USD started a fresh decline from well above 1.1350. USD/JPY started a major increase above the 115.00 and 115.50 resistance levels.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

Recently, the Euro failed to clear the 1.1385 zone against the US Dollar. The EUR/USD pair started a fresh decline and traded below the 1.1320 support zone.

The pair even broke the 1.1300 level and settled below the 50 hourly simple moving average. A low was formed near 1.1272 on FXOpen and the pair is now consolidating. An immediate resistance on the upside is near the 1.1300 level.

EUR/USD Hourly Chart
(https://i.postimg.cc/hGfGjm1n/EURUSD-Chartx.jpg)

It is near the 23.6% Fib retracement level of the recent decline from the 1.1388 swing high to 1.1272 low. The next major resistance is near the 1.1305 level.

There is also a key bearish trend line forming with resistance near 1.1300 on the hourly chart of EUR/USD. The main resistance is near the 1.1320 level and the 50 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the 1.1388 swing high to 1.1272 low.

If there is no break above 1.1320, the pair might start a fresh decline. An immediate support is near the 1.1275. The next major support is near 1.1260, below which the pair could dive to 1.1220 in the near term.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/eur-usd-struggle-continues-usd-jpy-extends-rally?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_struggle_continues_usd_jpy_extends_rally_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 07, 2022, 06:41:01 AM
AUD/USD and NZD/USD Could Extend Losses
(https://i.postimg.cc/fWtsRHp5/AUD.jpg)

AUD/USD started a fresh decline from well above 0.7250. NZD/USD is also declining and there is a risk of a move below the 0.6730 support.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar struggled to clear the 0.7270 level against the US Dollar. The AUD/USD pair started a fresh decline below the 0.7250 support level.

The pair even traded below the 0.7220 support level and the 50 hourly simple moving average. It traded as low as 0.7146 on FXOpen and started consolidation. There was a minor move above the 0.7155 level.

AUD/USD Hourly Chart
(https://i.postimg.cc/RCkB67zm/AUDUSD-Chartx.jpg)

However, the pair is facing resistance near the 0.7175 level. There is also a short-term breakout pattern forming with resistance near 0.7175 on the hourly chart of AUD/USD. The triangle resistance is near the 23.6% Fib retracement level of the downward move from the 0.7272 swing high to 0.7146 low.

The next major resistance is near the 0.7210 level. It is near the 50% Fib retracement level of the downward move from the 0.7272 swing high to 0.7146 low.

A close above the 0.7210 level could start a steady increase in the near term. The next major resistance could be 0.7250. On the downside, an initial support is near the 0.7150 level. If there is a downside break below the 0.71350 support, the pair could extend its decline towards the 0.7120 level. Any more downsides might send the pair toward the 0.7100 level.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-could-extend-losses-4?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=aud_usd_and_nzd_usd_could_extend_losses_4_vm")
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 10, 2022, 06:49:11 AM
GBP/USD Gains Momentum, USD/CAD Could Extend Losses
(https://i.postimg.cc/D0GH0f1Q/GBPUSD-Sterling.jpg)

GBP/USD started a major increase above the 1.3500 resistance zone. USD/CAD declined below 1.2700 and remains at a risk of more downsides.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After a major decline, the British Pound found support above 1.3320 against the US Dollar. GBP/USD started a fresh upward wave above the 1.3500 level.

The bulls gained strength and pushed the pair above the 1.3550 level. A high was formed near 1.3597 on FXOpen and the pair is now consolidating gains. It is now trading well above the 1.3550 level and the 50 hourly simple moving average.

GBP/USD Hourly Chart
(https://i.postimg.cc/cH2Pdtt4/GBPUSD-Chart-1x.jpg)

On the downside, the first support is near the 1.3570 area. It is near the 23.6% Fib retracement level of the upward move from the 1.3490 swing low to 1.3597 high.

The first major support is near the 1.3550 level. There is also a key bullish trend line forming with support near 1.3545 on the hourly chart of GBP/USD. It is close to the 50% Fib retracement level of the upward move from the 1.3490 swing low to 1.3597 high.

If there is a break below 1.3545, the pair could extend its decline. The next key support is near the 1.3500 level. Any more losses might call for a test of the 1.3450 support.

An immediate resistance is near the 1.3600 level. The first major resistance is near the 1.3620 level. If there is an upside break above the 1.3620 zone, the pair could rise towards 1.3700. The next key resistance could be 1.3750, above which the pair could gain strength.

Read Full on FXOpen Company Blog... (http://"https://www.fxopen.com/blog/en/gbp-usd-gains-momentum-usd-cad-could-extend-losses?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_gains_momentum_usd_cad_could_extend_losses_vm")





Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 10, 2022, 05:37:48 PM
Japanese Yen a bastion of nation's stability.. or is it?
(https://i.postimg.cc/prNk38yf/yn.jpg)

Japan has for several decades been considered to be a shining light to the rest of the modern world.

Its technological prowess, civilized society and conservative, process-driven ideology have led it to become one of the most advanced nations on the planet, and for the Yen to be considered by many traders to be a safe Major Currency. A currency backed by Japan's diverse and sophisticated industry base.

The past forty years have demonstrated that Japan is a force to be reckoned with. It is an industrial giant, exporting its ultra-high tech electronics, cars, and science around the entire world and has a reputation for precision, engineering excellence and a degree of 'cool' that is apparent in every area of global society.

More recently, the Japanese economy has been bolstered by its government and population having not succumbed to the narrative relating to lockdowns and restrictions. Japan has remained open for business throughout the entire past 18 months, and with results which demonstrate its good decision-making.

However, as this week's trading begins, the Yen is continuing to fall against the US Dollar.

On Friday, January 7, 2022, Japan's Finance Minister Shunichi Suzuki spoke publicly about the need to stabilize the Yen and explained that he is watching the currency markets carefully due to the Yen's recent declines against the US Dollar.

The US Dollar has been accelerating in value compared to the Japanese Yen for quite some time now, and now stands at 115.66 Yen to the Dollar, meaning that the US Dollar is at its highest point against the Yen in over one year.

On Tuesday last week, the US Dollar hit a five-year high against the Yen with an exchange rate of 116.355 yen to one US Dollar after strengthening on expectations that the U.S. Federal Reserve will embark on steady interest rate increases while the Bank of Japan continued to keep interest rates low.

Another factor that has possibly contributed to an increasingly weak Yen is the increasing reliance on raw material imports by Japanese companies, and the difficulties associated with semi-conductor shortages which could have blighted Japanese engineering and electronics giants, however wholesale inflation is now hitting a record high and driving up the cost of living, which in major urban areas of Japan is among the highest in the world.

Currently, Japanese policymakers see little room to intervene in the currency market to attempt to stem the decline of the Yen against the US Dollar, however this decision has been met with some degree of public discourse given that Japan currently has a weakening economy, with competitiveness slipping and dire public finances.

Japan's government and central bank, both notoriously conservative and non-reactionary, have kept well away from intervening in the currency market since 2011 when horrendous natural disasters and the subsequent Fukushima nuclear crisis triggered volatility in the Yen.

Output is still relatively high, and it could be that local economists are relying on an uninterrupted industrial base to ride out the storm, and look toward the longer term rather than current situation.

Either way, the USDJPY pair remains an unusually volatile instrument in what is notoriously a stable major currency market which has been used to small movements for many years.

FXOpen Blog (https://www.fxopen.com/blog/en/japanese-yen-a-bastion-of-nations-stablity-or-is-it?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=japanese_yen_a_bastion_of_nations_stablity_or_is_it_vm)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 11, 2022, 05:28:30 PM
BTCUSD and XRPUSD Technical Analysis – 11th JAN 2022
(https://i.postimg.cc/k5TBc7cS/dx.jpg)

BTCUSD: Double Bottom Pattern Above $40,000

Bitcoin could not sustain its bullish momentum and started to decline after touching a high of $47,527 on 3rd January due to the heavy selling pressure that was observed across global cryptocurrencies in the first week of 2022.

The price of BTCUSD broke the $40,000 handle yesterday, touching a low of $39,719 in the European trading session. Also today, we could see some pullback action in the European trading session, and the prices of BTCUSD are ranging above the $40,000 handle.

A double bottom pattern is clearly seen above $40,000, which signifies the end of a downtrend and a shift towards an uptrend.

Stoch is indicating an OVERBOUGHT market, so a decline is expected to occur in the immediate short-term.

The relative strength index is at 54, indicating a NEUTRAL market and a move towards a market consolidation phase.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving average.

The average true range is indicating a lesser market volatility, meaning that markets are due to enter into a consolidation phase.


Bitcoin: Bullish Reversal Above $40,000 Confirmed
(https://i.postimg.cc/Njw9GJFK/btc.png)

In today’s European trading session, bitcoin is forming a bullish reversal pattern as the prices continue to uptick.

The immediate short-term outlook for bitcoin is mildly bullish, the medium-term outlook is neutral, and the long-term outlook remains bullish.

All of the major technical Indicators are giving a STRONG BUY signal, which means that in the immediate short-term we should expect targets of $43,000 and $44,000.

The price of BTCUSD is now facing its classic resistance level of $42,294 and Fibonacci resistance level of $42,368, after which the path towards $43,000 will get cleared.

In the last 24hrs, BTCUSD has gone UP by 0.55% with a price change of 232$, and has a 24hr trading volume of USD 33.986 billion. We can see an Increase of 60.84% in the trading volume as compared to yesterday. This increase is happening thanks to the strengthened buying pressure seen after the recent bitcoin’s decline.

The Week Ahead

The price of bitcoin has already touched a 5-month low, sliding below the $40,000 handle. At the start of 2022, such a decline signifies a weaker demand for bitcoin from global investors.

We can see that the prices of BTCUSD have stabilized and are moving in a mildly bullish channel in the European trading session today.

If the prices continue to remain above the important support level of $42,000, we could see an upside correction towards $44,000 this week.

BTC declines more than 40% from 2021 highs

In November 2021, we saw bitcoin touched an all-time high of $68,984; looking at this year’s low of $39,719, we can see a decline by 42%. This also explains the highly volatile nature of bitcoin. Looking at these numbers, many investors are not willing to enter into bitcoin markets.

The above reasons also led to the decline in the total market capitalization of bitcoin to below 800 billion USD.

Technical Indicators:

Commodity channel index (14-day): at 98.97 indicating a BUY

Average directional change (14-day): at 40.05 indicating a BUY

Rate of price change: at 1.114 indicating a BUY

StochRSI (14-day): at 67.04 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-11th-jan-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 12, 2022, 07:49:34 AM
EUR/USD and USD/CHF: Dollar Correcting Gains
(https://i.postimg.cc/RCtm6qrY/Euro-EUR-USD.jpg)

EUR/USD is eyeing a key upside break above 1.1380 and 1.1400. USD/CHF remains supported on the downside near the 0.9200 zone.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro remained well bid above the 1.1300 zone against the US Dollar. The EUR/USD pair started a slow increase and there was a break above the 1.1320 resistance zone.

There was a clear break above the 1.1340 and 1.1350 levels. The pair climbed above the 76.4% Fib retracement level of the key decline from the 1.1364 swing high to 1.1284 low (formed on FXOpen).

EUR/USD Hourly Chart
(https://i.postimg.cc/rFLkScMw/EURUSD-Chart-1x.jpg)

It is now trading above 1.1370 level and the 50 hourly simple moving average. On the upside, an initial resistance is near the 1.1380 level.

The 1.236 Fib extension level of the key decline from the 1.1364 swing high to 1.1284 low is also near the 1.1380 level. The next major resistance is near the 1.1400 zone. A clear upside break above the 1.1400 zone could open the doors for a steady move.

The next major resistance sits near the 1.1450 level. On the downside, an immediate support is near the 1.1340 level. The next major support is near the 1.1320 level.

There is also a key bullish trend line forming with support near 1.1315 on the hourly chart of EUR/USD. A downside break below the 1.1320 support could start another decline. The next major support sits near 1.1300.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-and-usd-chf-dollar-correcting-gains?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_and_usd_chf_dollar_correcting_gains_vm)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 13, 2022, 02:49:13 PM
ETHUSD and LTCUSD Technical Analysis – 13th JAN, 2022
(https://i.postimg.cc/QxZ9yCcG/sx.jpg)

ETHUSD: Double Bottom Pattern Above $2,900

Ethereum continued its decline from its weekly high of $3,888 reached on January 4th, after which we saw heavy selling pressure due to which the prices of ETHUSD slid below the $3,000 handle.

ETHUSD touched a low of $2,937 on January 10th, after which we could see buying and a continuous uptick in the price of Ethereum.

We can clearly see a double bottom pattern above the $2,900 handle which is a bullish reversal pattern and signifies the end of a downtrend and a shift towards an uptrend.

ETH is now trading just above its pivot level of $3,340 and moving in a mild bullish channel. The price of ETHUSD is now testing its classic resistance level of $3,361 and Fibonacci resistance level of $3,354, after which the path towards $3,500 will get cleared.

StochRSI is indicating an OVERSOLD level which means markets are due for an upwards correction soon.

All the moving averages are giving a STRONG BUY signal at the current market price of $3,351.

Some of the technical indicators are giving a BUY signal.

ETH is now trading above its 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Trend Reversal Seen Above $2,900
(https://i.postimg.cc/MZQf5VMm/eth.png)

ETHUSD continues to move into a consolidation channel above the $3,300 handle in the European trading session today.

The bullish trend line formation is clearly visible, indicating that the price of Ethereum will touch the level of $3,500.

We are also due for a major upwards correction in ETHUSD which could be in the form of a rally taking its price close to the $4,000 handle.

We can see a mildly bullish channel in progression today which is pushing the price of ETHUSD towards the $3,400 level.

ETH has gained 3.90% with a price change of 125.95$ in the past 24hrs and has a trading volume of 16.624 billion USD.

We can see an increase of 10.23% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

Ethereum continues to outperform bitcoin in 2022 with a gain of 3.85% in the last 24hrs, as compared to bitcoin which gained 2.86% during the same period.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook is NEUTRAL, and the long-term outlook for Ether is BULLISH with a RALLY formation towards the $4,000 handle.

ETHUSD continues to remain above the important psychological support level of $3,000, and is now on its path to cross $3,500.

This week, we can expect to see $3,500 to $3,600; and the next week Ether is expected to trade at a level above $3,600.

ETH 2.0

Ethereum is close to replacing Proof-of-Work with Proof-of-Stake with the launch of ETH 2.0. As of today, over 9 million ETH is now deposited in the Ethereum 2.0 deposit contract. This new network will be more energy efficient and reduce the total energy requirements by 99.9%.

To become a validator in the ETH 2.0, the investor will need to pledge 32ETH to the blockchain.

Technical Indicators:

Ultimate oscillator: at 51.13 indicating a BUY

Relative strength index (14-day): at 60.89 indicating a BUY

Moving averages convergence divergence (12,26): at 21.90 indicating a BUY

Bull/Bear power (13-day): at 2.99 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-13th-jan-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 14, 2022, 08:15:47 AM
Gold Price and Crude Oil Price Aim More Upsides
(https://i.postimg.cc/7Ymq9V6J/Gold-price-oil-price-2.jpg)

Gold price is gaining pace above the $1,805 resistance zone. Crude oil price is correcting gains, but dips might be limited below the $80.00 support.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price started a fresh increase from the $1,784 support zone against the US Dollar. The price gained pace above the $1,800 resistance to move into a positive zone.

The price settled well above the $1,810 level and the 50 hourly simple moving average. The price traded as high as $1,828 before there was a downside correction. The price declined below $1,820, but the bulls were active above $1,810.

Gold Price Hourly Chart
(https://i.postimg.cc/X7VV9hV0/Gold-Price-Chart.jpg)

A low is formed near $1,812 on FXOpen and the price is now rising. There is also a key bullish trend line with support near $1,820 on the hourly chart of gold. There was a clear move above the 50% Fib retracement level of the downward move from the $1,828 swing high to $1,812 low.

It is now trading near the $1,825 level. It is near the 76.4% Fib retracement level of the downward move from the $1,828 swing high to $1,812 low.

On the upside, the price is facing resistance near the $1,828 level. The main resistance is near the $1,830 level. A close above the $1,830 level could open the doors for a steady increase towards $1,850. The next major resistance sits near the $1,865 level.

On the downside, an initial support is near the $1,820 level. The first major support is near the $1,810 level. A downside break below the $1,810 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,780 support.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-aim-more-upsides?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gold_price_and_crude_oil_price_aim_more_upsides_vm)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 17, 2022, 09:31:09 AM
GBP/USD and GBP/JPY Eye Upside Continuation
(https://i.postimg.cc/FsNs3WYw/GBPUSD-British-Pound.jpg)

GBP/USD started a fresh increase from the 1.3500 zone and climbed above 1.3600. GBP/JPY is also rising, but it is facing resistance near 156.60.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

After a major decline, the British Pound found support near the 1.3500 zone against the US Dollar. The GBP/USD pair started a fresh increase above the 1.3550 and 1.3600 resistance levels to move into a positive zone.

There was also a break above the 1.3680 zone and the 50 hourly simple moving average. It traded as high as 1.3748on FXOpen and is currently correcting gains.

GBP/USD Hourly Chart
(https://i.postimg.cc/QxmNbQ5C/GBPUSD-Chart-2x.jpg)

There was a minor decline below the 1.3720 level. The pair traded below the 23.6% Fib retracement level of the upward move from the 1.3490 swing low to 1.3748 high. On the downside, an immediate support is near the 1.3680 level.

There is also a major bullish trend line forming with support near 1.3645 on the hourly chart of GBP/USD. The next major support is near the 1.3620 level.

The 50% Fib retracement level of the upward move from the 1.3490 swing low to 1.3748 high is also near the 1.3620 zone. If there is a break below the 1.3620 support, the pair could test the 1.3550 support. If there are additional losses, the pair could decline towards the 1.3500 level.

On the upside, the pair is facing resistance near the 1.3720 level. A close above the 1.3720 level could open the doors for more gains. The next major hurdle is near 1.3750, above which the pair could surge towards 1.3850.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-gbp-jpy-eye-upside-continuation?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_and_gbp_jpy_eye_upside_continuation_vm)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 17, 2022, 08:05:04 PM
US Consumers Spent Less Than Expected in December
(https://i.postimg.cc/Dw0Zqy24/nfpx.jpg)

The first two trading weeks of the new year are behind us, and investors have received and digested the last pieces of economic data for the just-concluded year. In the first trading week, the NFP (or non-farm payrolls) disappointed – the US economy added fewer jobs in December than the market expected.

The same can be said about the retail sales data for December released last Friday. Against the expectations of +0.2%, the core retail sales, the ones that exclude automobiles, fell by -2.3%.

In other words, the US consumer is cautious, and uncertainty is triggering a big pullback in spending. Inflation is eroding demand, and supply issues for goods remain persistent. Moreover, labor supply constraints and omicron fear are affecting consumer spending.

With only a week away ahead of the Fed’s January meeting, is the Fed going to hike into a slowing economy?
(https://i.postimg.cc/rFQs0tLL/ing.jpg)

Fed signaled the start of a new tightening cycle

The monetary policy in the US is closely watched by the developed economies. It often acts as a benchmark for other central banks, which quickly follow in the Fed’s footsteps.

The Fed is currently engaged in tapering its asset purchases. Effectively, it means that it still eases the monetary policy, albeit at a slower pace, despite inflation running hot at four decades high.

As such, with interest rates at the lower boundary and inflation so high, many fear that the Fed is trapped. The tapering is supposed to end in March, and so the institution cannot raise the federal funds rate at its January meeting.

However, the January meeting is important as the forward guidance may change. So far, a 25 basis points rate hike is in the cards, but one should not be surprised if the Fed is more aggressive.

In order to regain credibility in the face of rising inflation, the Fed may decide to shock the market with a 50 basis points rate hike. In any case, the January meeting will bring more details regarding what the Fed might do in March.

As such, the US dollar should be supported on dips.

The problem comes from the economic slowdown. By March, the economic growth may weaken considerably, and so the Fed may be forced to hike while the economy cools.

FXOpen Blog (https://www.fxopen.com/blog/en/us-consumers-spent-less-than-expected-in-december/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 18, 2022, 04:14:44 PM
Australian Dollar falls in major move against Euro as consumer confidence hits 30 year low
(https://i.postimg.cc/hG8hncRC/aud.jpg)

After a week-long period of no movement, the Euro has suddenly leapt into life this morning against the Australian Dollar.

Suddenly, as the markets in Europe began their trading week, the Euro rose to 1.584 against the Australian Dollar in the pre-opening early hours of the morning, representing a considerable move given that major currencies are not known for their volatility. Indeed, some entire trading strategies have become based on low volatility as this has been the status quo for many years now.

At the beginning of this month, the EURAUD pair was trading at 1.558, therefore a rise to 1.584 is, by comparison to general movements among major currency pairs, absolutely massive.

Whilst the Euro's move against the Australian Dollar is the largest currency move of the day, it is worth noting that the British Pound made a similar gain over the Australian Dollar, for similar reasons.

It is possible that part of this lack of confidence in the Australian Dollar may come from the continual hectoring that the Australian government appears to be engaging in toward its businesses and citizens.

For example, yesterday it was reported that Australian citizens returning from overseas trips have been asked to hand their smartphones over to the Australian Border Force, with one particular report having stated that a man and his partner were instructed to write their phone passcodes on a piece of paper, before the border officials took their phones into another room.

This is the latest in a long line of draconian restrictions and surveillance efforts being carried out by the Australian government, which has become known as one of the most stringent on earth when it comes to enforcing curbs over Covid 19, and curbs, data security and privacy issues, and a seemingly illiberal position taken by government are not often viewed as favorable conditions for a thriving economy.

Such curbs have therefore dented confidence in the Australian economy, and cast doubts over its position as a liberal and poltically free country going forward.

It could be that as parts of Europe still have some restrictions whereas others have none, trade between Euro-denominated countries and other regions of the world is becoming a bit easier, whereas Australia, whose main trading partner is China and in which personal movement and what could have been considered the normal way of life before March 2020 has shown no sign of return.

The EURAUD pair has moved 0.54% since yesterday, which was already an upward turn over Friday's close at just over 1.57.

The real elephant in the room is that Australia's Consumer Confidence index, which is used to measure how buoyant the retail part of the economy is, is at a very low point.

Figures were revealed for January 2022 this morning and it shows that many Australians are avoiding spending. In fact, confidence is at its lowest point since 1992, and just last week alone, Australian consumer confidence fell by 7.6%, sinking to its lowest rate since October 2020.

Data for all of Australia's states fell below the neutral confidence level of 10o, and to accompany this negativity, all of the subindices were also down, including current financial conditions having declined by 11.3%. The number of respondents to the confidence index survey who stated that now was “the time to buy a major household item” also reduced by 11.4%.

Things are very different in today's Australia compared to how they were at the beginning of 2020, and the terse relationship with China combined with the ongoing government position on Covid are weighing heavily on the minds of investors looking at the immediate future.

FXOpen Blog (https://www.fxopen.com/blog/en/australian-dollar-falls-in-major-move-against-euro-as-consumer-confidence-hits-30-year-low/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 19, 2022, 06:26:15 AM
BTCUSD and XRPUSD Technical Analysis – 18th JAN 2022
(https://i.postimg.cc/XYJ64n2K/abxx.jpg)

BTCUSD: Double Top Pattern Below $44,000

Bitcoin was unable to carry the bullish momentum seen last week and touched a high of $44,432 on 13th January, after which the decline started which continues to push its prices lower in the European trading session today.

Today, BTCUSD touched an intraday low of $41,458 and continues to remain under heavy selling pressure by the global investors.

We can clearly see a double top pattern below the $44,000 handle which signifies the end of an uptrend and a shift towards a downtrend.

Stoch and StochRSI is indicating an OVERBOUGHT level which means that in the immediate short-term, a decline in the prices is expected.

The relative strength index is at 42, indicating a WEAKER demand for bitcoin and selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 200 hourly exponential moving average.

The average true range is indicating high market volatility with a bearish zone formation.


Bitcoin: Bearish Reversal Below $44,000 Confirmed
(https://i.postimg.cc/pL6bd37w/dcx.png)

Bitcoin is forming a bearish reversal pattern as the prices continue to decline in the European trading session today.

The immediate short-term outlook for bitcoin is bearish, medium-term outlook is neutral, and the long-term outlook remains bullish.

All the major technical indicators are giving a STRONG SELL signal, which means that in the immediate short-term we should expect targets of $41,000 and $40,000.

The price of BTCUSD is now facing its classic support level of $41,205 and Fibonacci support level of $41,683, after which the path towards $40,000 will get cleared.

In the last 24hrs, BTCUSD has gone DOWN by 2.28% with a price change of 977$, and has a 24hr trading volume of USD 23.214 billion. We can see an increase of 16.29% in the trading volume as compared to yesterday. This increase can be attributed to the increased selling pressure seen in the cryptocurrency exchanges globally.

The Week Ahead

The price of Bitcoin continues to slide without any visible upside correction. This is also due to the bearish trend which started below the $44,000 handle.

At these levels many of the new and long-term investors are also expected to enter into the markets for long-term gains.

If the prices continue to remain above the important support level of $40,000, we could see an upside correction towards the $44,000 handle in the next week.

The ON-chain metrics are also suggesting that the price of bitcoin is expected to touch the $40,000 handle after which could see a bullish pattern with a rally towards $45,000.

Technical Indicators:

Commodity channel index (14-day): at -63.44 indicating a SELL

Average directional change (14-day): at 33.49 indicating a SELL

Rate of price change: at -0.268 indicating a SELL

Moving averages convergence divergence (12,26): at -183.30 indicating a SELL

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-18th-jan-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 19, 2022, 06:35:38 AM
EUR/USD and EUR/JPY Show Bearish Signs
(https://i.postimg.cc/BvZzx3LY/Euro-Yen-Pound.jpg)

EUR/USD started a fresh decline below the 1.1420 support. EUR/JPY is declining and could accelerate lower below 129.70.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro gained pace above the 1.1400 and 1.1450 resistance levels against the US Dollar. However, the EUR/USD pair struggled to gain pace above 1.1480 and started a fresh decline.

The pair traded below the 1.1420 support and settled below the 50 hourly simple moving average. There was a clear break below the 50% Fib retracement level of the upward move from the 1.1284 swing low to 1.1482 high (formed on FXOpen).

EUR/USD Hourly Chart
(https://i.postimg.cc/cH25y8D2/EURUSD-Chart-2x.jpg)

Besides, there was a break below a key bullish trend line with support near 1.1405 on the hourly chart. The pair is now trading below the 1.1350 level and the 50 hourly simple moving average.

It is now trading near the 76.4% Fib retracement level of the upward move from the 1.1284 swing low to 1.1482 high. Any more losses might send the pair towards the 1.1280 support zone. On the upside, the pair is facing resistance near the 1.1350 level.

The next major resistance is near the 1.1380 level. The main resistance is forming near the 1.1400 level. A clear break above the 1.1400 resistance could push EUR/USD towards 1.1450. If the bulls remain in action, the pair could rise above the 1.1480 resistance zone in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-and-eur-jpy-show-bearish-signs/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 21, 2022, 09:20:48 AM
ETHUSD and LTCUSD Technical Analysis – 20th JAN, 2022
(https://i.postimg.cc/Jz5qkBxC/dc.jpg)

ETHUSD: Double Bottom Pattern Above $3,000

Ethereum was unable to sustain its bullish momentum this week, and after touching a high of $3,409 on 12th January, started declining against the US dollar.

ETHUSD touched an intraday low of $3,080 in the Asian trading session today, after which we can see some consolidation in its prices above the $3,000 handle.

We can clearly see a double-bottom pattern above the $3,000 handle which is a bullish reversal pattern and signifies the end of a downtrend and a shift towards an uptrend.

ETH is now trading just below its pivot levels of $3,131 and is moving in a consolidation channel. The price of ETHUSD is now testing its classic resistance levels of $3,138 and Fibonacci resistance level of $3,146, after which the path towards $3,300 will get cleared.

The relative strength index is at 49, indicating a NEUTRAL market and a move towards the consolidation phase after the decline.

We have detected an MA 20 crossover pattern above the $3,124 level which signifies a bullish trend reversal in the short-term.

Some of the technical indicators are giving a BUY signal.

ETH is now trading below the 100 hourly and 200 hourly simple moving averages.


Ether Consolidation Channel Seen Above $3,000
(https://i.postimg.cc/mrZSN2pz/eth.png)

ETHUSD continues to move into a consolidation channel above the $3l000 handle in the European trading session today.

Most of investors are not entering the markets and are waiting for a bullish momentum.

The commodity channel index is indicating a NEUTRAL market, and the overall sentiment is also neutral at these levels.

We are also due for a major upwards correction in the ETHUSD which could manifest in the form of a rally taking its prices close to the $4,000 handle.

We can see a mildly bullish channel in progression today which is expected to push the prices of ETHUSD towards the $3,300 level.

ETH has gained 1.47% with a price change of 45.44$ in the past 24hrs, and has a trading volume of 11.474 billion USD.

We can see a decrease of 16.90% in the total trading volume in the last 24 hrs., which appears to be normal.

The Week Ahead

Ethereum is now approaching its important support level of $3,000 which will decide whether we will see a bullish reversal in the markets.

If the price of ETHUSD continues to remain above the $3,000 handle, as we can see today, it will signify a bullish reversal with an upside target of $3,300 to $3,500 in the next week.

The immediate short-term outlook for Ether has turned NEUTRAL, the medium-term outlook is MILDLY BULLISH, and the long-term outlook for Ether is BULLISH with a RALLY formation towards $4,000.

MACD has indicated a bullish crossover which is also giving a BUY signal at the current market levels.

This week, we can expect to see $3,300 to $3,400, and in the next week Ether is expected to trade at levels above $3,500.

Technical Indicators:

Williams percent range: at -37.39 indicating a BUY

Stoch (9,6): at 71.39 indicating a BUY

Moving averages convergence divergence (12,26): at 1.75 indicating a BUY

StochRSI (14): at 58.95 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-20th-jan-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 21, 2022, 09:31:22 AM
AUD/USD and NZD/USD Remain At Risk
(https://i.postimg.cc/Fzq9GRx9/AUD-3.jpg)

AUD/USD started a fresh decline from the 0.7275 zone. NZD/USD is also declining and there is a risk of a move below the 0.6720 support.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar struggled to clear the 0.7275 level against the US Dollar. The AUD/USD pair started a fresh decline below the 0.7250 support level to move into a bearish zone.

The bears were able to push the pair below the 50% Fib retracement level of the upward move from the 0.7170 swing low to 0.7275 high (formed on FXOpen). Besides, there was a break below a key bullish trend line with support near 0.7200 on the hourly chart of AUD/USD.

AUD/USD Hourly Chart
(https://i.postimg.cc/DfYy7j3t/AUDUSD-Chart-1x.jpg)

The pair settled below the 0.7220 support level and the 50 hourly simple moving average. It is now consolidating near the 0.7185 level.

The 76.4% Fib retracement level of the upward move from the 0.7170 swing low to 0.7275 high is also protecting losses. On the downside, an initial support is near the 0.7170 level. If there is a downside break below the 0.7170 support, the pair could extend its decline towards the 0.7125 level.

Any more downsides might send the pair toward the 0.7100 level. On the upside, the pair is facing resistance near the 0.7210 level.

The next major resistance is near the 0.7240 level. A close above the 0.7240 level could start a steady increase in the near term. The next major resistance could be 0.7300.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-remain-at-risk/)


Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 24, 2022, 09:56:44 AM
GBP/USD Starts Fresh Decline, EUR/GBP Remains Supported
(https://i.postimg.cc/QCQM3SLt/GBPUSD-British-Pound-1.jpg)

GBP/USD started a fresh decline from well above the 1.3700 level. EUR/GBP is showing positive signs, with a strong support near the 0.8340 level.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound struggled to settle above the 1.3750 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3620 support zone.

There was a clear move below the 1.3600 level and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 1.3620 on the hourly chart of GBP/USD.

GBP/USD Hourly Chart
(https://i.postimg.cc/RVmFRrfn/GBPUSD-Chart-3x.jpg)

A low is formed near 1.3545 on FXOpen and the pair is now consolidating losses. On the upside, an initial resistance is near the 1.3575 level. It is near the 23.6% Fib retracement level of the downward move from the 1.3661 swing high to 1.3545 low.

The next main resistance is near the 1.3600 zone. It is near the 50% Fib retracement level of the downward move from the 1.3661 swing high to 1.3545 low.

If there is an upside break above the 1.3600 resistance, the price could surpass 1.3625 or even 1.3650. If there is no upside break, the pair could start a fresh decline below 1.3540. An immediate support is near the 1.3520 level.

The first key support is near the 1.3500 level. Any more losses could lead the pair towards the 1.3450 support zone. The next major support sits near the 1.3420 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-starts-fresh-decline-eur-gbp-remains-supported/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 25, 2022, 02:31:19 PM
Australian and Canadian Dollars fall against Pound as China's policy costs dear
(https://i.imgur.com/Tyn21ky.jpg)

As this week begins, yet another strengthening is very apparent for the British Pound against two major currencies, those being the Canadian Dollar and the Australian Dollar.

The Pound has been doing very well against all of its peers recently, largely because of the inability of the British government to do what the public and investing community expected it to do this winter, and lock down the nation again.

There is a theory among many people across Europe that Britain would have followed the actions of its mainland European neighbours and inflicted a lockdown on its population and that it was possibly already being planned for months in advance, however the wheels came off when the revelations about a number of government officials having had one or more informal gatherings during the period in which they were insisting on compliance with lockdowns.

This has angered a large proportion of citizens and business owners who had not been allowed to operate during that particular period, whereas the government officials having the alleged parties were not afraid of anything, nor were abiding by the strict rules they doled out.

As a result, it would have been impossible to implement any further restrictions on anyone in Britain, therefore the pleasant surprise came when Prime Minister Boris Johnson announced that there would be a complete removal of all remaining restrictions, and Britain is now open and free.

The same cannot be said for many other parts of the world, and whilst the British Pound continues to climb against all other major currencies, it is the Canadian Dollar and Australian Dollar that are falling against the currency of the most free nation in the West at the moment.

This is because not only do restrictions still exist in Canada and are in full swing in Australia, but the two currencies are commodity-reliant, whereas the British Pound is not.

Why is that important?

It is important because the already heavily restricted nations of Canada and Australia are dependent on the large commodity trading centers of Toronto and Sydney, and both of those commodity centers are part of a massive trade union with China.

China at the moment is instigating a 'zero-Covid' policy across its mainland, which is a media-friendly term for total control over every activity and draconian restrictions on movement and business.

In Canada, the analysts are stating their case for the reason why the Canadian Dollar has dipped, with Bank of Montreal Capital Markets' European Head of FX Strategy Stephen Gallo having told CNBC that ripple effects from China could be feeding into the performance of developed market commodity-based currencies.

Yes, consumable commodities such as oil and gas have risen in price during recent months, but there are other areas of the commodity market that have had an effect on commodity-dependent currencies.

The very same bank's Head of FX Strategy Greg Anderson stated that the two-year swap rates for Australian and New Zealand dollars had underperformed the U.S. dollar, which would perhaps indicate toward a theory that central bank policy divergence is a factor.

However, the Canadian swap rate has performed very similarly to the U.S., so this does not explain why CAD has not rallied alongside oil, according to the analyst.

In China, there were closures of factories along with electricity power cuts last year as part of the strict restrictions on people's movement in China, and it is known that the country is operating a 'zero-Covid' policy and such a policy is likely to have severe implications for both supply and demand and in particular it could conceivably be affecting China’s demand for certain raw materials.

By contrast, the British economy is more reliant on international investment, its own diversified industry base and the financial markets center in London which also has a vast equities trading contingent on the London Stock Exchange and is not so dependent on raw materials or commodities.

The British Pound starts the trading week at a five-day high against the Australian Dollar, at a value of 1.89 Australian Dollars to the Pound, and it had held a high point against the Canadian Dollar during the off-market hours at the weekend at 1.7 Canadian Dollars to the Pound, before dropping slightly this morning.

There is a crossroads in the currency market at the moment, that being the buoyancy of the majors that are sovereign currencies of nations with no lockdowns or restrictions and a diversified local industry base, compared to the flagging values of those reliant on trade with China, have high commodities dependency and have a myriad of restrictions still in force.

It's certainly a different world this January to that of even one year ago.

FXOpen Blog (https://www.fxopen.com/blog/en/australian-and-canadian-dollars-fall-against-pound-as-chinas-policy-costs-dear/)


Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 25, 2022, 02:35:36 PM
BTCUSD and XRPUSD Technical Analysis – 25th JAN 2022
(https://i.imgur.com/n02Y6ey.jpg)

BTCUSD – Double Bottom Pattern Above $32000

Bitcoin had a major bearish correction after touching a high of 43296 on 20th January, the prices continued to decline touching a low of 33053 yesterday.

This sharp drop in the levels of Bitcoin was due to heavy selling in the markets coupled with the fears of a Russian attack on Ukraine.

Today BTCUSD has entered into a mild bullish momentum and continues to remain above the $36000 handle in the European Trading session.

We can clearly see a Double Bottom Pattern above the $32000 handle which is a Bullish reversal pattern because it signifies the end of a downtrend and a shift towards an Uptrend.

STOCH and Williams Percent Range are indicating OVERBOUGHT levels which means that in the immediate short term a decline in the prices is expected.

Relative Strength Index is at 55 indicating a STRONG demand for the Bitcoin at the current market levels.

Bitcoin is now moving Above its 100 hourly Simple Moving average and below its 200 hourly Exponential Moving averages.

Average True Range is indicating Less Market Volatility with a Bullish zone formation.


Bitcoin Bullish Reversal Above $32000 Confirmed
(https://i.imgur.com/rjvhCCP.png)

Bitcoin is forming a Bullish Reversal pattern as the prices continue to Uptick in the European Trading session today.

The immediate short-term outlook for Bitcoin is Bullish, Medium-term outlook is Neutral, and the long-term outlook remains Strong Bullish.

All of the Major Technical Indicators are giving a BUY Signal, which means that in the immediate short term we are expecting targets of 38000 and 40000.

The price of BTCUSD is now facing its Classic resistance levels of 36426 and Fibonacci resistance levels of 36735 after which the path towards 38000 will get cleared.

In the last 24hrs BTCUSD is UP by 4.67% by 1619$ and has a 24hr trading volume of USD 41.650 Billion. We can see an Increase of 61.22% in the Trading volume as compared to yesterday.

This increase in the Trading volume of BTC is due to the increased Buying pressure after the recent decline, which saw many new investors coming into the markets.

The Week Ahead

The prices of Bitcoin entered into the consolidation phase after touching the $33000 handle and is now moving into a Mild Bullish momentum towards the $37000 levels.

We can expect more Upsides in the range of $38000 to $40000 in this week. The most important factor that is facing the Global investors is the news of a Russian attack on the Ukraine and its effects on the Crypto markets.

Since the liquidity fear is the most in the Cryptocurrencies, we saw a major drop in the levels of Bitcoin, which now appears to have stabilized.

The Crypto Winter

The prices of Bitcoin have declined from its November 2021 highs of $69000 by more than 50% which has resulted in the mass erosion of the investors wealth globally.

At present the Total market capitalization of Bitcoin stands at 685 Billion USD.

Many of the analysts have coined this Major decline as the Crypto Winter, which appears to be a difficult and challenging time for the Crypto Investors.


Technical Indicators:

Relative Strength Index (14days): It is at 55.72 indicating a BUY.

Average Directional Change (14days): It is at 22.27 indicating a BUY.

Rate of Price Change: It is at 0.432 indicating a BUY.

Moving Averages Convergence Divergence (12,26): It is at 161.80 indicating a BUY.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-25th-jan-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 26, 2022, 08:12:50 AM
EUR/USD Faces Hurdles, USD/JPY Could Recover
(https://i.postimg.cc/VkSRST56/Euro-Pound-Yen-1.jpg)

EUR/USD started a fresh decline from well above 1.1380. USD/JPY remained in a bearish zone and settled below the 114.50 pivot level.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis
(https://i.postimg.cc/zG9kTjRk/EURUSD-Chart-3x.jpg)

Recently, the Euro failed to clear the 1.1420 zone against the US Dollar. The EUR/USD pair started a fresh decline and traded below the 1.1350 support zone.

The pair even broke the 1.1320 level and settled below the 50 hourly simple moving average. A low was formed near 1.1263 on FXOpen and the pair is now correcting higher. There was a move above the 50% Fib retracement level of the recent decline from the 1.1334 swing high to 1.1263 low.

EUR/USD Hourly Chart

An immediate resistance on the upside is near the 1.1305 level. There is also a key bearish trend line forming with resistance near 1.1308 on the hourly chart of EUR/USD.

The trend line is near the 61.8% Fib retracement level of the recent decline from the 1.1334 swing high to 1.1263 low. The next major resistance is near the 1.1320 level. The main resistance is near the 1.1350 level and the 50 hourly simple moving average.

If there is no break above 1.1308, the pair might start a fresh decline. An immediate support is near the 1.1288. The next major support is near 1.1265, below which the pair could drop to 1.1220 in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-faces-hurdles-usd-jpy-could-recover?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=eur_usd_faces_hurdles_usd_jpy_could_recover_vm)


Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 27, 2022, 04:07:53 PM
ETHUSD and LTCUSD Technical Analysis – 27th JAN, 2022
(https://i.postimg.cc/Y0y11QjH/eth.jpg)

ETHUSD – Bearish Engulfing Pattern Below $2700

Ethereum started a major bearish correction from its highs of 3268 reached on 20th January. We can see that after a mild bullish correction wave, the bearish trend is back which continues to push down the prices of Ethereum below the $2500 handle in the European Trading session today.

ETHUSD touched an intraday low of 2355 in the Asian trading session today after which we can see some consolidation in its prices above the $2300 handle.

We can clearly see a Bearish Engulfing Pattern below the $2700 handle which is a bearish pattern and signifies a potential shift in the market direction towards a Downtrend.

ETH is now trading just above its Pivot levels of 2403 and is moving in a Consolidation Channel. The price of ETHUSD is now testing its Classic support levels of 2358 and Fibonacci support levels of 2392 after which the path towards 2200 will get cleared.

Relative Strength Index is at 41 indicating a WEAK demand for the Ethereum and the continuation of the Selling pressure in the markets.

Most of the of the Technical indicators are giving a STRONG SELL Signal.

ETH is now trading Below its both the 100 Hourly and 200 Hourly Simple Moving Averages.


Ether Bearish Momentum seen Below $2700
(https://i.postimg.cc/hPf8KZ3P/image2.png)

ETHUSD continues to move into a Mild Bearish channel below the $2700 handle in the European Trading session today.

Average Directional Change is indicating a NEUTRAL market, and the overall sentiment is shifted towards the Bearish market.

The heavy selling pressure in Ethereum and its subsequent liquidation by the long-term investors is due to the fear of a Russian Attack on Ukraine and its broader implications on the Crypto markets.

We are now looking at the key support levels of $2300 which if broken would push down the prices of Ethereum towards the $2200 handle.

ETH has lost -2.71% with a price change of -66.95$ in the past 24hrs and has a trading volume of 22.749 Billion USD.

We can see an Increase of 42.78% in the total trading volume in last 24 hrs. which is due to the heavy selling seen after the bullish momentum failed.

The Week Ahead

Ethereum is now approaching its important support levels of $2300 which will decide whether we will see a Bullish reversal in the markets.

If the prices of ETHUSD continue to remain above the $2300 handle as we can see today, it will signify a Bullish reversal with an Upside target of $2500 to $2800 in the next week.

The immediate short-term outlook for the Ether has turned as BEARISH, the Medium term outlook is NEUTRAL, and the Long term outlook for Ether is BULLISH towards the $3000 handle.

We have detected an MA 5 crossover pattern above 2398 levels which signifies a Bullish Trend reversal in the short term.

In this week Ether is expected to move in a range between the $2300 and $2600 and in the next week Ether is expected to trade at levels above $2600.

Technical Indicators:

Rate of Price Change: It is at -7.782 indicating a SELL.

STOCH (9,6): It is at 23.42 indicating a SELL.

Moving Averages Convergence Divergence (12,26): It is at -24.08 indicating a SELL.

STOCHRSI (14): It is at 25.04 indicating a SELL.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-27th-jan-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 28, 2022, 07:10:33 AM
Gold Price Nosedives While Crude Oil Price Extends Rally
(https://i.postimg.cc/SxsVjtHt/Gold-price-oil-price.jpg)

Gold price started a fresh decline from the $1,850 resistance zone. Crude oil price is rising and might continue to gain momentum above $87.00.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price attempted a key upside break above $1,850 against the US Dollar. However, the price failed to gain strength above $1,850 and started a major decline.

There was a clear move below the $1,820 level and the 50 hourly simple moving average. Besides, there was a break below a key contracting triangle with support near $1,840 on the hourly chart of gold.

Gold Price Hourly Chart
(https://i.postimg.cc/c4TXxNkn/Gold-Price-Chart-1x.jpg)

The price even declined below the $1,800 level and settled below the 50 hourly simple moving average. A low is formed near $1,791 and is currently consolidating losses. On the upside, the price is facing resistance near the $1,800 level.

The first major resistance is near the $1,805 level. It is near the 23.6% Fib retracement level of the downward move from the $1,853 swing high to $1,791 low.

The main resistance is now forming near the $1,820 level. The 50% Fib retracement level of the downward move from the $1,853 swing high to $1,791 low is also near the $1,820 level. A close above the $1,820 level could open the doors for a steady increase towards $1,840.

The next major resistance sits near the $1,850 level. On the downside, an initial support is near the $1,790 level. The first major support is near the $1,780 level.

A downside break below the $1,780 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,750 support.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-nosedives-while-crude-oil-price-extends-rally-2/)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 31, 2022, 07:28:09 AM
GBP/USD and USD/CAD: Dollar Gains Traction
(https://i.postimg.cc/kXYWqXLD/GBPUSD-Cable-Sterling.jpg)

GBP/USD started a major decline below the 1.3500 support. USD/CAD gained bullish momentum for a move above the 1.2700 level.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After struggling to clear the 1.3660 resistance zone, the British Pound found started a fresh decline against the US Dollar. GBP/USD traded below the 1.3550 support level to move into a bearish zone.

The bears gained strength for a move below the 1.3500 level and the 50 hourly simple moving average. The pair even spiked below the 1.3400 level and traded as low as 1.3357 on FXOpen. It is now consolidating above the 1.3380 level.

GBP/USD Hourly Chart
(https://i.postimg.cc/QdB1tZrm/GBPUSD-Chart-4x.jpg)

An immediate resistance is near the 1.3420 level. It is near the 38.2% Fib retracement level of the downward move from the 1.3524 swing high to 1.3357 low.

The first major resistance is near the 1.3440 level. There is also a key bearish trend line forming with resistance near 1.3430 on the hourly chart of GBP/USD. The trend line is near the 50% Fib retracement level of the downward move from the 1.3524 swing high to 1.3357 low.

If there is an upside break above the 1.3440 zone, the pair could rise towards 1.3500. The next key resistance could be 1.3550, above which the pair could gain strength.

On the downside, the first support is near the 1.3380 area. The first major support is near the 1.3350 level. If there is a break below 1.3350, the pair could extend its decline. The next key support is near the 1.3250 level. Any more losses might call for a test of the 1.3200 support.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-usd-cad-dollar-gains-traction?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp_usd_and_usd_cad_dollar_gains_traction_vm)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 01, 2022, 11:43:20 AM
This Week’s Most Anticipated Central Banks’ Decisions
(https://i.postimg.cc/YCqf2tmj/RBA.jpg)

The month's last trading day is here, and no important economic events are due. However, the week ahead is full of macro-events to move financial markets, such as three central banks announcing their policy decisions, and the NFP report scheduled for next Friday.

The Australian dollar traders are on high alert since the Reserve Bank of Australia is scheduled to release its monetary policy tomorrow. Markets have priced in several hikes from the RBA.

However, the central bank's narrative was rather dovish, as the Australian economy is affected by the Chinese zero-covid policy. Therefore, the forward guidance from the RBA is more important for the Australian dollar than the actual interest rate decision.
(https://i.postimg.cc/CL4sVR5W/112.jpg)

While the RBA is not expected to move the cash rate, the Bank of England will likely hike at its next Thursday meeting. A 25 basis points rate hike is priced in, and so the British pound traders are on the lookout for the Bank of England's guidance regarding future rate hikes.

On the same day as the Bank of England, the European Central Bank will hold its press conference and present its own monetary policy statement. This is one central bank in no hurry to raise the rates, which is extraordinary to consider in a rising inflation environment; the ECB holds the deposit facility rate below zero.

Big Tech Giants to Report Quarterly Earnings This Week

The week ahead is full of major US corporations presenting their Q4 2021 earnings (with the exception of Qualcomm that will present its Q1 2021 report). Here are some names to consider as their earnings may trigger important swings in the equity market:


All in all, volatility is set to rise this week as momentum builds up for the NFP report release on Friday. Further improvements in the unemployment rate should make the Fed set foot on the path of more aggressive tightening.

FXOpen Blog (https://www.fxopen.com/blog/en/this-weeks-most-anticipated-central-banks-decisions/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 01, 2022, 05:11:33 PM
BTCUSD and XRPUSD Technical Analysis – 01st FEB 2022
(https://i.postimg.cc/X7NLRQsf/btcxrp.jpg)

BTCUSD: Double Bottom Pattern Above $35,500

Bitcoin continues its bullish momentum this week having crossed the $38,000 handle in the Asian trading session today.

The prices of bitcoin are surging due to the increase in trading volumes and a renewed interest of global investors to buy bitcoin at lower levels.

BTCUSD touched an intraday high of $38,741 in the early Asian trading session, and an intraday low of $38,185.

We can clearly see a double bottom pattern above the $35,500 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Stoch and Williams Percent Range are indicating an OVERBOUGHT level which means that in the immediate short-term, a decline in the prices is expected.

The relative strength index is at 61 indicating a STRONG demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving average.

The average true range is indicating a lesser market volatility with a bullish zone formation.


Bitcoin: Bullish Momentum Above $35,500 Confirmed
(https://i.postimg.cc/fyCK39RS/btc.png)

Bitcoin continues to gain traction in the European trading session today and is trading above the $38,000 handle.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook is neutral, and the long-term outlook remains strongly bullish.

The daily RSI is printing at 40 which means that long-term investors are still not coming into the markets.

All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short-term, we should be expecting targets of $40k and $42k.

The price of BTCUSD is now facing its classic resistance level of $38,529 and Fibonacci resistance level of $38,588, after which the path towards $40k will get cleared.

In the last 24hrs, BTCUSD has gone UP by 3.75% with a price change of $1,392, and has a 24hr trading volume of USD 20.355 billion. We can see an increase of 23.68% in the trading volume as compared to yesterday.

The total market capitalization of bitcoin still remains below the $800 billion mark and is currently at 730.045 billion USD.

The Week Ahead

The prices of bitcoin are ranging in between the levels of $38,900 and $35,500, and are due for an upwards correction towards the $40,000 handle.

Many analysts believe that the recent decline happened due to the CME Futures gap.
(https://i.postimg.cc/RCLGpjLC/cme.png)

Bitcoin’s bullish momentum is expected to continue pushing its levels past the $40,000 handle this week, and the prices of BTCUSD will need to remain above the important support level of $37,000.

Next week, we can expect more upsides in the range of $42,000 to $45,000.

Technical Indicators:

Commodity channel index (14-day): at 67.48 indicating a BUY

Average directional change (14-day): at 43.04 indicating a BUY

Rate of price change: at 0.255 indicating a BUY

Moving averages convergence divergence (12,26): at 179.60 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-01st-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 02, 2022, 02:15:55 PM
EUR/USD Gains Momentum, USD/CHF Signals Downside Break
(https://i.imgur.com/a6ok32d.jpg)

EUR/USD started a recovery wave above 1.1220 and 1.1240. USD/CHF is declining and trading below the 0.9250 support zone.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis
(https://i.imgur.com/nv9UyPe.jpg)

The Euro started a major decline from well above the 1.1350 level against the US Dollar. The EUR/USD pair traded below the 1.1250 support zone to move into a bearish zone.

The pair traded as low as 1.1121 on FXOpen and recently started an upside correction. The pair was able to clear the 1.1200 resistance zone and the 50 hourly simple moving average. There was a move above the 50% Fib retracement level of the key decline from the 1.1359 swing high to 1.1121 low.

Besides, there was a break above a major bearish trend line with resistance near 1.1230 on the hourly chart of EUR/USD. It is now trading above 1.1250 level and the 61.8% Fib retracement level of the key decline from the 1.1359 swing high to 1.1121 low.

On the upside, an initial resistance is near the 1.1300 level. The next major resistance is near the 1.1320 zone. A clear upside break above the 1.1320 zone could open the doors for a steady move.

The next major resistance sits near the 1.1420 level. On the downside, an immediate support is near the 1.1240 level. The next major support is near the 1.1220 level. A downside break below the 1.1220 support could start another decline.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-gains-momentum-usd-chf-signals-downside-break-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 03, 2022, 04:51:02 PM
ETHUSD and LTCUSD Technical Analysis – 03rd FEB, 2022
(https://i.postimg.cc/C5Zbsmgk/ltc-eth.jpg)

ETHUSD: Rounding Bottom Pattern Above $2,400

Ethereum has finished its bearish momentum seen last week after it touched a low of $2,183 on 24th January. In today’s European trading session, we can observe a mildly bullish trend, which is keeping ETH prices above the $2,600 handle.

ETHUSD continues to maintain its consolidation above $2,600, and is on a recovery mode towards its important resistance level of $3,000.

We can clearly see a rounding bottom pattern above the $2,400 handle which is a bullish pattern and signifies a bullish continuation forming an uptrend.

ETH is now trading just above its pivot level of $2,667, and is moving in a consolidation channel. The price of ETHUSD is now testing its classic resistance levels of $2,681, and Fibonacci resistance level of $2,689, after which the path towards $3,000 will get cleared.

The relative strength index is at 44 indicating a NEUTRAL market sentiment which is expected to continue for some time due to the global risk scenario.

Most of the technical indicators are giving a NEUTRAL market signal.

ETH is now trading above its 100 hourly and 200 hourly simple moving averages.


Ether: Mild Bullish Momentum seen above $2,400
(https://i.postimg.cc/Ssx6Jm1Z/ethusd.png)

In today’s European trading session, ETHUSD continues to move in a mildly bullish channel above the $2,400 handle.

The commodity channel index is indicating a NEUTRAL market, and the overall sentiment has shifted towards the bullish market.

The selling pressure has subsided, and a buying zone formation is seen which continues to push the prices upwards after every decline.

We are looking at the important psychological resistance level of $3,000 which, if broken, will lead Ethereum into a strongly bullish momentum.

The key support level to watch is $2,600, and as we can see that the prices continue to remain above these levels.

ETH has lost -3.70% with a price change of -85.47$ in the past 24hrs, and has a trading volume of 14.684 billion USD.

We can see an increase of 17.17% in the total trading volume in the last 24 hrs, which appears to be normal.

The Week Ahead

Ethereum is now on track towards recovery after the recent decline last week. We saw ETHUSD touching a high of $3,268 on 20th January, and if the current bullish momentum continues, we could see these levels again the next week.

For now, the main contention is the falling interest of the global investors and the panic selling that is seen due to the tension at the Russia and Ukraine border.

If the prices of ETHUSD continue to remain above the $2,600 handle, as we have seen today, it will confirm the bullish channel formation with an upside target of $2,900 to $3,200 the next week.

The immediate short-term outlook for Ether has turned NEUTRAL, the medium-term outlook is mildly BULLISH, and the long-term outlook is BULLISH towards the $3,500 handle.

We have detected an MA 10 and MA 5 crossover pattern above $2,664, which signifies a bullish trend reversal in the short-term.

This week, Ether is expected to move in a range between $2,600 and $2,800; the next week, Ether is expected to trade at levels above $2,800.

Technical Indicators:

Ultimate oscillator: at 51.60 indicating a BUY

Average directional change (14-day): at 23.93 indicating a BUY

Highs/lows(14-day): at 0.00 indicating a NEUTRAL market

StochRSI (14-day): at 71.08 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-03rd-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 04, 2022, 07:29:46 AM
AUD/USD and NZD/USD Target More Upsides
(https://i.postimg.cc/XJ4Fb8d6/AUD-3.jpg)

AUD/USD started a fresh increase from the 0.6965 zone. NZD/USD is also rising and there was a clear move above the 0.6650 resistance.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis
(https://i.postimg.cc/MKNQTxVD/AUDUSD-Chart.jpg)

The Aussie Dollar found support near the 0.6965 zone against the US Dollar. The AUD/USD pair traded as low as 0.6967 on FXOpen before it started a fresh increase.

There was a clear move above the 0.7000 and 0.7020 resistance levels. Besides, there was a break above a couple of bullish patterns near 0.7070 and 0.7130 on the hourly chart of AUD/USD. The pair surged above the 0.7150 level and the 50 hourly simple moving average.

AUD/USD Hourly Chart

It traded as high as 0.7168 and currently consolidating gains. On the downside, an initial support is near the 0.7130 level and the 50 hourly simple moving average.

The next support is near the 23.6% Fib retracement level of the upward move from the 0.6967 swing low to 0.7168 high. If there is a downside break below the 0.7120 support, the pair could extend its decline towards the 0.7070 level.

The 50% Fib retracement level of the upward move from the 0.6967 swing low to 0.7168 high is near the 0.7070 level to provide support. Any more downsides might send the pair toward the 0.7000 level.

On the upside, the pair is facing resistance near the 0.7170 level. The next major resistance is near the 0.7200 level. A close above the 0.7200 level could start a steady increase in the near term. The next major resistance could be 0.7320.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-target-more-upsides/)


Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 07, 2022, 08:12:17 AM
GBP/USD and GBP/JPY Could Resume Increase
(https://i.postimg.cc/Gmp4Hj7G/GBPUSD-Sterling-1.jpg)

GBP/USD started a fresh increase from the 1.3350 zone and climbed above 1.3600. GBP/JPY is also rising, but it is facing resistance near 156.50.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

After a major decline, the British Pound found support near the 1.3350 zone against the US Dollar. The GBP/USD pair started a fresh increase above the 1.3400 and 1.3450 resistance levels to move into a positive zone.

There was also a break above the 1.3550 zone and the 50 hourly simple moving average. It traded as high as 1.3627 on FXOpen and is currently correcting gains.

GBP/USD Hourly Chart
(https://i.postimg.cc/PryLX74d/GBPUSD-Chartx.jpg)

There was a decline below the 1.3600 level and the 50 hourly simple moving average. The pair traded below the 38.2% Fib retracement level of the upward move from the 1.3357 swing low to 1.3627 high. Besides, there was a break below a key bullish trend line with support near 1.3550 on the hourly chart of GBP/USD.

On the downside, an immediate support is near the 1.3500 level. The next major support is near the 1.3590 level. It is near the 50% Fib retracement level of the upward move from the 1.3357 swing low to 1.3627 high.

If there is a break below the 1.3590 support, the pair could test the 1.3550 support. If there are additional losses, the pair could decline towards the 1.3500 level.

On the upside, the pair is facing resistance near the 1.3560 level. The next major hurdle is near 1.3625, above which the pair could surge towards 1.3750 in the near term.



Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-gbp-jpy-could-resume-increase/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 08, 2022, 04:08:48 PM
BTCUSD and XRPUSD Technical Analysis – 08th FEB 2022
(https://i.postimg.cc/hjt3y6Zj/btc-xrp.jpg)

BTCUSD: Double Bottom Pattern Above $36,200

Bitcoin continues its bullish momentum this week in the form of a rally, and touched a high of $45,387 in today’s European trading session.

Global buying pressure is observed in bitcoin, and support at lower levels which has managed to push up the prices of BTCUSD above the $44,000 handle.

BTCUSD touched an intraday low of $43,575 in the Asian trading session, and an intraday high of $45,387 today.

We can clearly see a double bottom pattern above $36,200, which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Both Stoch and Williams percent Rrange are indicating OVERBOUGHT levels which means that in the immediate short-term a decline in the prices is expected.

The relative strength index is at 60 indicating a STRONG demand for bitcoin at the current market level.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving averages.

The average true range is indicating lesser market volatility with a bullish zone formation.


Bitcoin Rally Seen Above $36,200
(https://i.postimg.cc/Dw1D8qb2/BTCUSDH1x.jpg)

Bitcoin continues its strong bullish momentum, having crossed the $45,000 handle in today’s European trading session.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook is neutral, and the long-term outlook remains strongly bullish.

The daily RSI is printing at 64 which means that long-term investors have returned to the markets, which can push the prices of BTCUSD above the $50,000 handle.

All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short-term we are expecting targets of $45,000 and $48,000.

The price of BTCUSD is now facing its classic resistance level of $45,033 and Fibonacci resistance level of $45,145, after which the path towards $48,000 will get cleared.

In the last 24hrs, BTCUSD has gone UP by 3.81% with a price change of $1,622, and has a 24hr trading volume of USD 31.862 billion. We can see an increase of 48.60% in the trading volume as compared to yesterday, due to increased buying pressure in global cryptocurrency markets.

The total market capitalization of bitcoin has now crossed the $800 billion mark and is currently at 838.161 billion USD.

The Week Ahead

The prices of bitcoin are at present moving in a contraction phase after touching the level of $45,000. We can see some short-selling which is the reason for a pullback to the current market level of $44,150.

We have detected MA5 and MA10 crossover patterns at $44,671 and $44,345, which signifies the visible contraction seen in the prices of bitcoin.

In the medium-term, bitcoin’s bullish momentum is expected to continue pushing past the $50,000 handle this week.

The prices of BTCUSD will need to remain above the important support level of $40,000 this week.

We can expect more upsides in the range of $45,000 to $48,000 in the next week.

Bitcoin’s Rally Mode

The prices of bitcoin continue to surge from their lowest level seen on 24th Jan when it touched a low of $33,503.

At the current market price of $44,140 we can see a gain of 31% which is why we can say that bitcoin is in a rally mode, and the prices can continue appreciating towards $50,000 and $55,000 in the coming weeks.

Historically, this is seen as the longest rally after Sept 2021, due to increased global investor sentiments.

Technical Indicators:

Commodity channel index (14-day): at 53.50 indicating a BUY

Average directional change (14-day): at 45.17 indicating a BUY

Rate of price change: at 0.495 indicating a BUY

Moving averages convergence divergence (12,26): at 502.00 indicating a BUY


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-08th-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 09, 2022, 08:01:02 AM
EUR/USD and EUR/JPY Eye Additional Upsides
(https://i.postimg.cc/Ls9xstWq/Euro-Yen-Pound.jpg)

EUR/USD started a fresh increase above the 1.1380 resistance. EUR/JPY is rising and aiming an upside break above the 132.20 resistance zone.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro formed a base above the 1.1180 level against the US Dollar. The EUR/USD pair started a steady increase and was able to clear many hurdles near 1.1250.

The pair traded above the 1.1350 resistance and the 50 hourly simple moving average. Besides, there was a clear move above the 1.1400 level. The pair traded as high as 1.1483 on FXOpen and is currently correcting gains.

EUR/USD Hourly Chart
(https://i.postimg.cc/7LKmJCvK/EURUSD-Chart-1.jpg)

There was a move below the 1.1450 support level. EUR/USD declined below the 23.6% Fib retracement level of the upward move from the 1.1267 swing low to 1.1483 high.

However, the bulls are now protecting the 1.1400 support zone. There is also a key bullish trend line forming with support near 1.1410 on the hourly chart. If there is a downside break below the trend line, the pair could test 1.1375.

It is near the 50% Fib retracement level of the upward move from the 1.1267 swing low to 1.1483 high. The next major support sits near the 1.1340 level. On the upside, the pair is facing resistance near the 1.1450 level.

The next major resistance is near the 1.1480 level. The main resistance is forming near the 1.1500 level. A clear break above the 1.1500 resistance could push EUR/USD towards 1.1550. If the bulls remain in action, the pair could rise above the 1.1620 resistance zone in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-and-eur-jpy-eye-additional-upsides/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 10, 2022, 05:24:36 PM
ETHUSD and LTCUSD Technical Analysis – 10th FEB, 2022
(https://i.postimg.cc/pd8S60fn/eth.jpg)

ETHUSD: Bullish Pennant Pattern Above $3,000

This week, Ethereum continues its bullish momentum after touching a low of $2,575 on February 3rd. On February 8th, we saw Ethereum making a strong bullish move in the form of a rally and crossing the level of $3,000.

ETHUSD continues to maintain its consolidation above the level of $3,000 and is currently trading at $3,194 in the European trading session.

We can clearly see a bullish pennant pattern above the $3,000 handle which is a bullish pattern and signifies a bullish continuation, forming an uptrend.

ETH is now trading just above its pivot level of $3,187 and moving in a consolidation channel. The price of ETHUSD is now testing its classic resistance level of $3,196 and Fibonacci resistance level of $3,202 after which the path towards $3,400 will get cleared.

The relative strength index is at 53 indicating a NEUTRAL market sentiment which is expected to shift towards the bullish sentiment.

Some of the technical indicators are giving a BUY market signal.

ETH is now trading above its 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Momentum Seen Above $3,000
(https://i.postimg.cc/63XPJdcb/etx.png)

ETHUSD continues to move in a bullish channel above the $3,000 handle in today’s European trading session.

The price of Ethereum has crossed the 50-day simple moving average at $3,142, indicating a bullish outlook, and we are now looking at the targets of 3,300 and 3,500.

The Stoch and rate of price change are indicating a short-term correction which is expected at levels below 3,200.

The daily RSI is printing at 59 which also indicates a stronger demand for Ethereum in the long-time frame.

The bullish line formation above its 100-day simple moving average of 3106 indicates that we are heading towards $3,500.

The key support level to watch is $3,000, and as of now, the price remains above this levels.

ETH has gained 3.17% with a price change of 98.32$ in the past 24hrs, and has a trading volume of 13.426 billion USD.

We can see a decrease of 7.54% in the total trading volume in the last 24 hrs, which appears to be normal.

The Week Ahead

Ethereum continues to move in a strongly bullish momentum after touching a low of $2,199 on 24th January. The price has jumped by more than 40% in the form of a rally, and now we are observing a consolidation in its levels.

If the price of ETHUSD continues to remain above the $3,000 handle, as seen today, it will start the next leg of its bullish move towards the $3,500 handle the next week.

The immediate short-term outlook for Ether has turned BULLISH, the medium-term outlook is strongly BULLISH, and the long term outlook for Ether is BULLISH towards the $3,500 handle.

We have detected an MA5 crossover pattern above 3,181,which signifies a bullish move in the short-term.

This week, Ether is expected to move in a range between $3,200 and $3,400, while next week, Ether is expected to trade at levels above $3,500.

Technical Indicators:

Moving averages convergence divergence (12,26): at 11.10 indicating a BUY

Average Directional Change (14-day): at 40.85 indicating a BUY

Bull/Bear Power(13-day): at 7.94 indicating a BUY

StochRSI (14-day): at 22.77 indicating an OVERSOLD market

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-10th-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 11, 2022, 09:18:32 AM
Gold Price Corrects Lower, Crude Oil Price Aims Fresh Increase
(https://i.postimg.cc/c1M0g6hP/Gold-price-oil-price-1.jpg)

Gold price gained bullish momentum above $1,825 before correcting lower. Crude oil price is holding the $87.50 support and might start a fresh increase.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a support base near $1,788 and started a fresh increase against the US Dollar. The price gained pace for a move above the $1,800 level to move into a positive zone.

There was a clear move above the $1,820 level and the 50 hourly simple moving average. The price even climbed above the $1,835 resistance level. A high was formed near $1,841 on FXOpen before the price started a downside correction.

Gold Price Hourly Chart
(https://i.postimg.cc/hvgnZqDC/Gold-Price-Chart.jpg)

There was a break below the $1,835 level. Besides, there was a break below a key bullish trend line with support near $1,835 on the hourly chart of gold.

The price traded below the 23.6% Fib retracement level of the upward move from the $1,788 swing low to $1,841 high. On the downside, an initial support is near the $1,820 level. The first major support is near the $1,815 level.

It is near the 50% Fib retracement level of the upward move from the $1,788 swing low to $1,841 high. If there is a downside break below the $1,815 level, the price could decline to $1,800.

On the upside, the price is facing resistance near the $1,830 level. The main resistance is now forming near the $1,840 level. A close above the $1,840 level could open the doors for a steady increase towards $1,850. The next major resistance sits near the $1,865 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-corrects-lower-crude-oil-price-aims-fresh-increase/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 14, 2022, 09:19:13 AM
GBP/USD Stuck In Range, EUR/GBP Remains At Risk
(https://i.postimg.cc/brpspf6d/GBPUSD-Cable.jpg)

GBP/USD started a fresh decline from well above the 1.3600 level. EUR/GBP is also declining and trading below the 0.8420 support zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound struggled to settle above the 1.3600 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3580 support zone.

There was a clear move below the 1.3550 level and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.3513 swing low to 1.3609 high.

GBP/USD Hourly Chart
(https://i.postimg.cc/NM153jkW/GBPUSD1x.jpg)

It is now trading below the 1.3550 level and testing the 76.4% Fib retracement level of the upward move from the 1.3513 swing low to 1.3609 high.

An immediate support is near the 1.3530 level. There is also a key bullish trend line forming with support near 1.3530 on the hourly chart of GBP/USD. The first key support is near the 1.3510 level. Any more losses could lead the pair towards the 1.3450 support zone.

The next major support sits near the 1.3420 level. On the upside, an initial resistance is near the 1.3560 level and the 50 hourly simple moving average.

The next main resistance is near the 1.3600 zone. If there is an upside break above the 1.3600 resistance, the price could gain bullish momentum. In the stated case, GBP/USD might rise to 1.3680.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-stuck-in-range-eur-gbp-remains-at-risk/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 14, 2022, 02:14:48 PM
Pound hit a low point, but not for long!
(https://i.postimg.cc/G2fyW2Dx/gbp.jpg)

At the end of last week, the Euro did something that it rarely does: take a nosedive against the British pound.

Although there has been much more volatility in the currency markets over the past year, it is still relatively stable compared to the ups and downs experienced by other asset classes such as oil and certain company stocks due to the imposed shortages of raw materials and supply chain issues that have taken place recently.

Currency, as always, has been relatively stable.

Therefore, a 1 point drop between two major currencies is enough to make for an interesting chart pattern, and on Friday, February 11, the Pound's gain against the Euro tailed off once again.

The low point can really only be considered a 'tailing off' of a ten-day gain which the Pound had been achieving, after its considerable drop to 1.18 on February 4, however today's trading week begins with the Pound slightly down compared to its recovery performance from the low point on February 4 which was its lowest point in one month by far.

After February 4's substantial dip in value for the Pound against the Euro, it began to rise healthily once again, and peaked at almost 1.20 on Thursday last week, however the upward trajectory came to a standstill and the Pound began to decline again.

All eyes this morning will be on whether British Prime Minister Boris Johnson begins to wax lyrical about his plans to 'challenge' Russia's president Vladimir Putin over any possible conflict in Ukraine.

As is almost always the case, when a Western nation begins involving itself in an overseas geopolitical matter, confidence in the economy either strengthens or weakens, depending on how such a geopolitical issue benefits or exposes the nation seeking to get involved.

On British soil, confidence in the leadership abilities of Boris Johnson is at an all-time low since his election, and despite Russia's comparatively low-grade economy which is based solely on mineral and fossil fuel mining and export, there is an abundance of investors who know that Mr. Putin makes very few mistakes with his strategies.

Therefore, it may be that the Pound could become volatile if Boris Johnson's commentary continues to be highlighted in the press, as many investors consider that his interfering with Russia's policies on its own soil amount to playing with fire.

No conflict has begun as yet, and therefore speculation hangs over the markets, giving the Pound and the Euro, and to some extent the US Dollar as Joe Biden wades into the debate, some potential for volatile reactions to news on which angle each premier will take.

There are those who consider Russia to be a 'junk' economy, riddled with high inflation, government-instigated price realignments, capital controls and high levels of corruption, further exacerbated by sanctions imposed on it by Europe and the United Kingdom, but this particular market-moving scenario is not about the Ruble at all, it's about the Pound, and potentially the Euro and Dollar later on, however given Germany's good relationship with the Russian government, and Boris Johnson's less than credible outbursts, the majors are the ones to watch.

FXOpen Blog (https://www.fxopen.com/blog/en/pound-hit-a-low-point-but-not-for-long/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 16, 2022, 08:45:12 AM
BTCUSD and XRPUSD Technical Analysis – 15th FEB 2022
(https://i.postimg.cc/htnyX7hH/btc.jpg)

BTCUSD: Bullish Engulfing Pattern Above $41,500

Bitcoin touched a high of $45,807 on February 10, after which it started to decline touching a low of $41,601 in the Asian trading session today.

Now the prices have entered into a bullish correction phase and continue to remain above the $43,000 handle in the European trading session.

We can see a recovery in the prices of bitcoin towards $44,000,and this fresh wave of correction is expected to push up its prices towards $47,000.

We can clearly see a bullish engulfing pattern above the $41,500 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Both Stoch and StochRSI are indicating an OVERBOUGHT level, meaning that in the immediate short-term, a decline in the prices is expected.

The relative strength index is at 71 indicating a STRONGER demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving average.

All of the major technical Indicators are giving a STRONG BUY signal, which means that in the immediate short-term we are expecting targets of $45,000 and $47,000.

The average true range is indicating lesser market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $41,500
(https://i.postimg.cc/nh1dBcDM/btx.png)

Bitcoin continues to move in a strong bullish momentum after its decline towards the $41,600 level, and is now moving into a bullish zone formation above $43,000.

The immediate short-term outlook for bitcoin is strongly bullish; the medium-term outlook is neutral; the long-term outlook remains bullish.

We can see that the daily 100-day and 200-day simple moving averages are indicating a trend reversal at the levels of $48,177 and 49,416, which means that after touching these levels a contraction/ correction in bitcoin prices is expected.

The price of BTCUSD is now facing its classic resistance level of $44,233, and Fibonacci resistance level of $44,452, after which the path towards $47,000 will get cleared.

Bitcoin has already managed to cross its initial resistance zone of $43,800, and is moving upwards closer to $44,000.

In the last 24hrs, BTCUSD has gone UP by 4.58% with a price change of 1,926$, and has a 24hr trading volume of USD 24.019 billion. We can see an increase of 34.58% in the trading volume as compared to yesterday, due to increased buying pressure in the global cryptocurrency markets.

The Week Ahead

The prices of bitcoin are at present moving in a correction phase towards the $44,000 handle. This also indicates that now we are looking at a fresh rally into the markets towards $50,000.

The prices of bitcoin remained under pressure last week due to the fresh concerns over the Russia-Ukraine border tensions, which, to date, has resulted in the US dollar getting stronger due to safe haven demands and the price of BTCUSD going down.

In the immediate short-term, bitcoin’s bullish momentum is expected to continue pushing past the $47,000 handle this week.

The price of BTCUSD will need to remain above the important support level of $43,000 this week, and we can expect more upsides in the range of $45,000 to $47,000 the next week.

Bitcoin vs GOLD

Traditionally, gold has been considered a safe preferred by global investors for long-term holdings of their wealth. But now we can see a shift in the sentiment towards bitcoin as a viable digital gold, thanks to higher appreciation and gains.

Crypto investors now prefer buying bitcoin at lower levels, and we can see that now the total market capitalization of bitcoin stands at 832 billion USD.

Technical Indicators:

The commodity channel index (14-day): at 103.36 indicating a BUY

The average directional change (14-day): at 29.93 indicating a BUY

The rate of price change: at 4.306 indicating a BUY

The moving averages convergence divergence (12,26): at 414.10 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-15th-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 16, 2022, 08:48:29 AM
EUR/USD and USD/JPY Near Crucial Juncture
(https://i.postimg.cc/NGTZLtp2/Euro-Pound-Yen.jpg)

EUR/USD started a fresh decline from well above 1.1450. USD/JPY is attempting recovery and facing a strong resistance near 115.80.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro failed to clear the 1.1480 zone against the US Dollar. The EUR/USD pair started a fresh decline and traded below the 1.1420 support zone.

The pair even broke the 1.1350 level and settled below the 50 hourly simple moving average. A low was formed near 1.1280 on FXOpen and the pair is now correcting higher. There was a move above the 50% Fib retracement level of the recent decline from the 1.1417 swing high to 1.1280 low.

EUR/USD Hourly Chart
(https://i.postimg.cc/gkWQZ7TS/EURUSD-Chart-2.jpg)

An immediate resistance on the upside is near the 1.1350 level. There is also a key bearish trend line forming with resistance near 1.1350 on the hourly chart of EUR/USD.

The trend line is near the 61.8% Fib retracement level of the recent decline from the 1.1417 swing high to 1.1280 low. The next major resistance is near the 1.1380 level. The main resistance is near the 1.1420 level.

If there is no break above 1.1350, the pair might start a fresh decline. An immediate support is near the 1.1320 and the 50 hourly simple moving average. The next major support is near 1.1280, below which the pair could drop to 1.1225 in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-and-usd-jpy-near-crucial-juncture/)



Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 17, 2022, 01:53:37 PM
ETHUSD and LTCUSD Technical Analysis – 17th FEB, 2022
(https://i.postimg.cc/QMpXx1kn/eth-1.jpg)

ETHUSD: Bullish Engulfing Pattern Above $2,800

Ethereum was unable to sustain its Bullish momentum last week, and after touching a high of $3,280 on February 10, it started to decline with a low of $2,837 on February 13.

The selling we saw in ETHUSD occurred due to a broad-based liquidation of the assets into the USD following the fears (which now seem to have subsided) of a war between Russia and Ukraine.

ETHUSD continues to maintain its consolidation above $3,000 and is currently trading at $3,126 in the European trading session.

We can clearly see a bullish engulfing pattern above the $2,800 handle which signifies a bullish continuation and formation of an uptrend.

ETH is now trading just above its pivot level of $3,100 and is moving in a consolidation channel. The price of ETHUSD is now testing its classic resistance level of $3,119, and Fibonacci resistance level of $3,130 after which the path towards $3,300 will get cleared.

The relative strength index is at 52 indicating a NEUTRAL market sentiment which is expected to shift towards a bullish sentiment.

Some of the technical indicators are giving a BUY market signal, with some of the moving averages giving a BUY signal as well, and we are now looking at the levels of $3,300 to $3,500 in the short-term range.

ETH is now trading above its 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Reversal Seen Above $2,800
(https://i.postimg.cc/TwfTy1t2/etx.png)

In today’s European trading session, ETHUSD has been moving into a consolidation channel above the $3,000 handle.

Both the commodity channel index and Stoch are indicating a NEUTRAL level which means that markets are expected to remain in the consolidation phase for some time.

The monthly relative strength index is printing at 58 which also indicates a stronger demand for Ethereum in the long-time frame.

The prices of Ethereum remain above the 50-day SMA of $3,058, which further validates the prevailing bullish sentiments in the markets.

The key support level to watch is $3,000, and a key resistance level is $3,200 for this week.

ETH has declined -1.35% with a price change of 42.73$ in the past 24hrs, and has a trading volume of 13.984 billion USD.

We can see a 5.36% increase in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

Ethereum has once again started its bullish moves against the US dollar after declining below the $3,000 handle. We can see that this upside projection is strong and will result in crossing $3,300 this week.

The ongoing Russia-Ukraine crisis is also affecting  global cryptocurrency markets including Ethereum because of its effects on the USD which is seen as a safe haven investment.

If the prices of ETHUSD continue to remain above the $3,000 handle as we can see today, it would start the next leg of its bullish move towards $3,400 the next week.

The immediate short-term outlook for Ether has turned BULLISH; the medium-term outlook has turned NEUTRAL; and the long-term outlook is BULLISH towards the $3,500 handle.

This week, Ether is expected to move in a range between $3000 and $3300, and the next week, to trade at levels above $3,300.

Technical Indicators:

The moving averages convergence divergence (12,26): at 15.75 indicating a BUY

The average directional change (14-day): at 41.31 indicating a BUY

The rate of price change: at 6.54 indicating a BUY

Bull/Bear power (13-day): at 63.65 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-17th-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 18, 2022, 06:20:35 AM
AUD/USD and NZD/USD Target Additional Gain
(https://i.postimg.cc/T1cDm3Lq/aud.jpg)

AUD/USD started a fresh increase from the 0.7085 zone. NZD/USD is also rising and there was a clear move above the 0.6680 resistance.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar found support near the 0.7080 zone against the US Dollar. The AUD/USD pair traded as low as 0.7086 on FXOpen before it started a fresh increase.

There was a clear move above the 0.7100 and 0.7120 resistance levels. The pair surged above the 0.7180 level and the 50 hourly simple moving average. During the increase, there was a clear move above the 50% Fib retracement level of the downward move from the 0.7248 swing high to 0.7086 low.

AUD/USD Hourly Chart
(https://i.postimg.cc/v879C3qg/AUDUSD-Chart-1.png)

Besides, there is a key bullish trend line forming with support near 0.7180 on the hourly chart of AUD/USD. The pair is now facing resistance near the 0.7210 level.

The 76.4% Fib retracement level of the downward move from the 0.7248 swing high to 0.7086 low is also near the 0.7210 level. The next major resistance is near the 0.7250 level. A close above the 0.7250 level could start a steady increase in the near term.

The next major resistance could be 0.7300. On the downside, an initial support is near the 0.7180 level and the 50 hourly simple moving average.

The next support is near the 0.7165. If there is a downside break below the 0.7165 support, the pair could extend its decline towards the 0.7120 level. Any more downsides might send the pair toward the 0.7080 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-target-additional-gains-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 21, 2022, 08:39:38 AM
GBP/USD and USD/CAD Could Extend Gains
(https://i.postimg.cc/7YWPzQKt/GBPUSD-Sterling-1-1.jpg)

GBP/USD started a steady increase and surpassed the 1.3600 resistance. USD/CAD is holding gains above 1.2700 and eyeing more gains.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis
(https://i.postimg.cc/SNsNJpfz/GBPUSD-Chart-2x.jpg)

The British Pound formed a strong support base above the 1.3500 level against the US Dollar. As a result, the GBP/USD pair started a decent increase and it broke many hurdles near 1.3550.

The pair gained pace above the 1.3580 level and the 50 hourly simple moving average. The pair even spiked above the 1.3600 resistance zone. A high is formed near 1.3642 on FXOpen and the pair is now consolidating gains.

GBP/USD Hourly Chart

There was a move below the 23.6% Fib retracement level of the upward move from the 1.3486 swing low to 1.3642 high. An initial support on the downside is near the 1.3605 level and the 50 hourly simple moving average.

The main support is now forming near the 1.3590 level. There is also a key bullish trend line forming with support near 1.3590 on the hourly chart of GBP/USD.

The trend line is also above the 50% Fib retracement level of the upward move from the 1.3486 swing low to 1.3642 high. If there is a downside break, GBP/USD might test the 1.3520 support.

On the upside, the pair must settle above the 1.3630 level. The next major resistance is near the 1.3650 level. Any more gains could lead the pair towards the 1.3800 barrier in the near term. An intermediate resistance could be 1.3740.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-usd-cad-could-extend-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 22, 2022, 03:33:50 PM
BTCUSD and XRPUSD Technical Analysis – 22nd FEB 2022
(https://i.postimg.cc/KvsML3rx/btc-xrp-1.jpg)

BTCUSD: Bearish Engulfing Pattern Below $44,300

Bitcoin was unable to sustain its bullish momentum against the US dollar and started declining after touching a high of $44,740 on 16th February.

The propagation of the bearish trend continues with the prices of bitcoin trading below the $37,000 mark in the European trading session today. The drop is due to the fresh concerns of the war between Russia and Ukraine, and the flight towards safe haven assets like the US dollar.

We can clearly see a bearish engulfing pattern below the $44,300 handle, which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

The Stoch and Williams percent range are indicating OVERBOUGHT levels which means that in the immediate short-term, a decline in the prices is expected.

The relative strength index is at 38 indicating a WEAKER demand for bitcoin at the current market levels.

Bitcoin is now moving below its 100 hourly simple moving average, and below its 200 hourly exponential moving average.

All of the major technical indicators are giving a STRONG SELL signal, and in the immediate short-term, we can expect targets of $35,000 and $33,000.

The average true range is indicating a lesser market volatility with a strong bearish momentum.


Bitcoin: Bearish Reversal Seen Below $44,300
(https://i.postimg.cc/W3nD4d1R/btx.png)

Bitcoin continues to move in a strong bearish momentum following a baseline progression towards $37,000.

In the immediate short-term we are expecting a range-bound movement for bitcoin between the levels of $36,000 and $37,500, as it is due to enter into a consolidation phase now.

On-chain metrics are also indicating a bearish outlook for bitcoin, with many of the short-term holders liquidating their holdings.

The immediate short-term outlook for bitcoin is strongly bearish; the medium-term outlook is neutral; and the long-term outlook remains bullish.

We have detected an MA 5 crossover pattern at the level of $36,792, which means that after touching these levels the prices of bitcoin are expected to bounce upwards,

The price of BTCUSD is now facing its classic support level of $36,343, and Fibonacci support level of $36,736, after which the path towards $35,000 will get cleared.

We can see that the daily RSI is also printing at 34 which indicates that in the medium-term prices are expected to decline further.

In the last 24hrs BTCUSD has gone down by -6.33% by 2,488$, and has a 24hr trading volume of USD 32.682 billion. We can see an increase of 69.19% in the trading volume as compared to yesterday, due to increased selling pressure in the global cryptocurrency markets.

The Week Ahead

The prices of bitcoin are due to enter a consolidation phase above the level of $36,000. We can see some range-bound movement between $36,000 and $38,000.

The price of bitcoin is still under pressure as the Russia-Ukraine crisis deepens. Both the short-term and the long-term holders of bitcoin are selling, which is pulling the price down.

In the immediate short-term this week, bitcoin’s bearish momentum is expected to continue pushing its levels below the $36,000 handle.

In the event of a pullback, the upside projection is at the 50-day SMA of $38,179.

The price of BTCUSD will need to remain above the important support level of $35,000 this week.

The weekly outlook is projected at $35,000 with a consolidation zone of $36,000.

Technical Indicators:

The relative strength index (14-day): at 34.53 indicating a SELL

The average directional change (14-day): at 30.37 indicating a SELL

The rate of price change: at -16.29 indicating a SELL

The moving averages convergence divergence (12,26): at -807.20 indicating a SELL

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-22nd-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 22, 2022, 04:11:20 PM
Close-Only Mode for All RUB Pairs

(https://i.imgur.com/1Ht2EIr.jpg)

Dear Traders,

Due to the escalating Russia-Ukraine tensions, FXOpen has set trading on the Russian ruble pairs to Close-Only mode. The changes are already in effect.

We are taking these steps to mitigate risks stemming from heightened volatility, price spikes, and price flow disruptions that may arise under the aforementioned circumstances.

Please consider this information as you plan your trading.

FXOpen Company News (https://www.fxopen.com/en/news/close-only-mode-for-all-rub-pairs/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 23, 2022, 05:15:38 AM
EUR/USD Struggle Continues, USD/CHF Shows Positive Signs
(https://i.postimg.cc/Jhv29rkj/Euro-EUR.jpg)

EUR/USD is facing resistance near the 1.1350 and 1.1360 levels. USD/CHF is rising, but struggling to clear the 0.9225 resistance zone.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro attempted an upside break above the 1.1400 level against the US Dollar. However, the EUR/USD pair failed to surpass 1.1400 and started a fresh decline.

The recent high was formed near 1.1366 on FXOpen before the pair dipped. There was a move below the 1.1340 level. The pair even declined below the 50% Fib retracement level of the upward move from the 1.1286 swing low to 1.1366 high.

EUR/USD Hourly Chart
(https://i.postimg.cc/Ss9v4B63/EURUSD-Chart-3.jpg)

It is now trading below the 1.1335 level and the 50 hourly simple moving average. On the downside, an immediate support is near the 1.1320 level.

The 61.8% Fib retracement level of the upward move from the 1.1286 swing low to 1.1366 high is also near the 1.1320 zone. The next major support is near the 1.1285 level. A downside break below the 1.1285 support could start another decline.

On the upside, an initial resistance is near the 1.1340 level. The next major resistance is near the 1.1350 zone. There is also a major bearish trend line with resistance near 1.1350 on the hourly chart of EUR/USD.

A clear upside break above the 1.1350 zone could open the doors for a steady move. The next major resistance sits near the 1.1400 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-struggle-continues-usd-chf-shows-positive-signs/)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 25, 2022, 05:12:09 AM
ETHUSD and LTCUSD Technical Analysis – 24th FEB, 2022
(https://i.postimg.cc/MG7T91cf/eth-2.jpg)

ETHUSD: Bearish Engulfing Pattern Below $2,900

Ethereum failed to clear its resistance level of $3,200 last week and started moving into a bearish channel which continues today, pushing the price below the $2,500 handle in the European trading session.

Ethereum markets are witnessing a strong bearish phase with the investors selling their holdings in the wake of Russia attacking Ukraine.

We have seen that the safe haven status of the USD holds, which continues to push down the prices of ETHUSD in the medium-term scenario.

We can clearly see a bearish engulfing pattern below the $2,900 handle, which signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just above its pivot level of $2,352 and is moving in a bearish channel. The price of ETHUSD is now testing its classic support level of $2,235 and Fibonacci resistance level of $2,320 after which the path towards $2,100 will get cleared.

The relative strength index is at 27 indicating a WEAKER demand for Ethereum and the continuation of selling pressure in the markets.

All of the technical indicators are giving a STRONG SELL market signal.

All of the moving averages are giving a STRONG SELL signal, and we are now looking at the levels of $2,200 to $2,100 in the short-term range.

ETH is now trading below both the 100 hourly and 200 hourly simple moving averages.


Ether: Strong Bearish Momentum Seen Below $2,900
(https://i.postimg.cc/7PsLtHL9/etx.png)

ETHUSD is now moving into a strong bearish momentum with the prices trading below the $2,400 handle in the European trading session today.

Both the Williams percent range (daily) and StochRSI (daily) is indicating an OVERSOLD market, which means that a pullback in the level of Ethereum is expected soon.

We can see that the bearish trend line has extended, and now a move below $2,200 is expected in the short-term.

The prices of ETHUSD need to remain above the $2,100 handle for any bullish reversal in the markets.

At present, we are looking for immediate targets of $2,200 after which it is expected to enter into a consolidation and correction phase.

The key support level to watch is $2,100, and the key resistance level is $2,500 for this week.

ETH has declined -12.29% with a price change of -332.72$ in the past 24hrs, and has a trading volume of 20.564 billion USD.

We can see an increase of 36.99% in the total trading volume in the last 24 hrs due to the broad-based selling in the crypto markets globally.

The Week Ahead

Ethereum is now moving into a consolidating level above $2,200 which if completed will give the buyers a chance to pull back its level towards an important resistance zone located at $2,500.

The ongoing Russia-Ukraine war crisis is also affecting the global cryptocurrency markets including Ethereum because the investors are unwilling to hold Ethereum in view of the market liquidity crunch in Europe and Russia.

If the prices of ETHUSD continue to remain above the $2,000 handle as seen today, it will start the next leg of its bullish move towards $2,500 handle next week.

The immediate short-term outlook for Ether has turned strongly BEARISH; the medium-term outlook has turned NEUTRAL; and the long-term outlook for Ether is BULLISH towards the $3,000 handle.

This week, Ether is expected to move in a range between the $2,000 and $2,500, to trade at levels above $2,500 next week.

Technical Indicators:

The moving averages convergence divergence (12,26): at -71.42 indicating a SELL

The commodity channel index (14-day): at -82.77 indicating a SELL

The rate of price change: at -9.82 indicating a SELL

The Stoch (9,6): at 20.89 indicating a SELL

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-24th-feb-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 25, 2022, 09:38:49 AM
Gold Price and Crude Oil Price Could Rally Further
(https://i.postimg.cc/Bb2HZTr0/Gold-price-oil-price-2.jpg)

Gold price gained bullish momentum above $1,950 before correcting lower. Crude oil price is holding the $92.00 support and might start a fresh increase.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis
(https://i.postimg.cc/xCwLSxF5/Gold-Price-Chart-1.jpg)
Gold Price Hourly Chart

Gold price formed a support base near $1,850 and started a fresh increase against the US Dollar. The price gained pace for a move above the $1,900 level to move into a positive zone.

There was a clear move above the $1,920 level and the 50 hourly simple moving average. The price even climbed above the $1,950 resistance level. A high was formed near $1,974 on FXOpen before the price started a downside correction.

There was a break below the $1,950 level. Besides, there was a break below a key bullish trend line with support near $1,920 on the hourly chart of gold.

The price even spiked below the $1,900 level, but it found support near $1,880. A low is formed near $1,878 and the price is rising again. There was a move above the 23.6% Fib retracement level of the recent decline from the $1,974 swing high to $1,878 low.

On the upside, the price is facing resistance near the $1,915 level and the 50 hourly simple moving average. The main resistance is now forming near the $1,935 level.

The 50% Fib retracement level of the recent decline from the $1,974 swing high to $1,878 low is also near $1,935. A close above the $1,935 level could open the doors for a steady increase towards $1,950. The next major resistance sits near the $1,975 level.

On the downside, an initial support is near the $1,900 level. The first major support is near the $1,880 level. If there is a downside break below the $1,880 level, the price could decline to $1,850.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-could-rally-further/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 28, 2022, 09:12:36 AM
GBP/USD and GBP/JPY Could Resume Decline
(https://i.postimg.cc/02tXNVmL/GBPUSD-Cable-Sterling.jpg)

GBP/USD started a fresh decline from well above 1.3640 and traded below 1.3400. GBP/JPY is also declining and trading below 135.00.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

After facing resistance near 1.3620, the British Pound found started a fresh decline against the US Dollar. The GBP/USD pair gained pace below the 1.3500 support zone to enter a bearish zone.

There was also a break below the 1.3450 zone and the 50 hourly simple moving average. It traded as high as 1.3269 on FXOpen and is currently correcting losses. There was a minor recovery wave above the 1.3350 level.

GBP/USD Hourly Chart
(https://i.postimg.cc/9Qr8wyYz/GBPUSD-Chart-3.jpg)

The pair climbed above the 23.6% Fib retracement level of the downward move from the 1.3620 swing high to 1.3269 low.

However, the pair faced a strong resistance near the 1.3450 level. There is also a key bearish trend line forming with resistance near 1.3450 on the hourly chart of GBP/USD. The trend line is near the 50% Fib retracement level of the downward move from the 1.3620 swing high to 1.3269 low.

The next major hurdle is near 1.3500, above which the pair could surge towards 1.3550 in the near term. If there is no upside break, the pair could correct lower below 1.3320.

The next major support is near the 1.3300 level. If there is a break below the 1.3300 support, the pair could test the 1.3250 support. If there are additional losses, the pair could decline towards the 1.3200 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-gbp-jpy-could-resume-decline/)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 01, 2022, 08:42:30 PM
BTCUSD and XRPUSD Technical Analysis – 1st MAR 2022
(https://i.postimg.cc/dVFJNh4H/btc.jpg)

BTCUSD – Double Bottom Pattern Above $34000

Bitcoin has ended its bearish phase after touching a low of 34393 on 24th February and continues to move upwards after the consolidation phase above the 38000 levels.

The Bullish momentum we see today is the result of the increased buying demands from the global markets after the recent sanctions imposed on the Russian banking systems and the use of Bitcoin for converting the Russian Rubles into the desired currencies like the US Dollar and the Euros.

The propagation of the Bullish trend continues with the prices of Bitcoin trading above the $43000 mark in the European Trading session today.

The sharp rise that we see in the levels of Bitcoin is due to the fresh demands coming from the residents of Ukraine who are moving out and liquidating their assets and converting them into Bitcoins for safety.

We can see a Double Bottom Pattern above the $34000 handle which is a Bullish reversal pattern because it signifies the end of a downtrend and a shift towards an Uptrend.

STOCH and Williams Percent Range are indicating OVERBOUGHT levels which means that in the immediate short term a decline in the prices is expected.

The relative Strength Index is at 76 indicating a STRONG demand for Bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly Simple Moving average and below its 200 hourly Exponential Moving averages.

All of the Major Technical Indicators are giving a STRONG BUY Signal, which means that in the immediate short-term we are expecting targets of 45000 and 48000.

The Average True Range is indicating Less Market Volatility with a Strong Bullish momentum.


Bitcoin Bullish Momentum Seen Above $34000
(https://i.postimg.cc/jShtpR1s/image-1.jpg)

Bitcoin continues to move in a Strong Bullish momentum with an upside projection towards levels of 45000 in the European Trading session today.

In the immediate term, we are expecting a continuation of this bullish trend with the prices of Bitcoin ranging between the levels of $41000 and $46000 as it is due to enter into a consolidation phase now.

After crossing the horizontal levels of 42000 the appreciation in the prices of Bitcoin we see will result in a Rally towards the $50000 handle.

The immediate short-term outlook for Bitcoin is Strong Bullish, the Medium-term outlook is Bullish, and the long-term outlook remains Bullish.

The price of BTCUSD is now facing its Classic resistance levels of 43622 and Fibonacci resistance levels of 43740 after which the path towards 48000 will get cleared.

We can see that the daily RSI is also printing at 59 which indicates that in the medium-term prices are expected to appreciate further.

In the last 24hrs, BTCUSD is UP by 13.70% by 5243$ and has a 24hr trading volume of USD 38.490 Billion. We can see an increase of 46.69% in the Trading volume as compared to yesterday, due to increased selling buying pressure in the Global cryptocurrency markets.

The Week Ahead

The prices of Bitcoin are due to enter into a consolidation phase above the $42000 level. We can see some range of bounded movements in its levels between $42000 to $46000.

The prices of Bitcoin are appreciating as an alternative source of cross-border payments after the recent sanctions that are being imposed on Russia by the SWIFT network.

In the immediate short term, Bitcoin Bullish momentum is expected to continue pushing its levels above the $46000 handle this week.

In the event of a pullback, the upside projection is at the 100-day SMA of $44992.

The prices of BTCUSD will need to remain above the important support levels of $40000 this week.

The weekly outlook is projected at $41000 with a consolidation zone of $44000.

Technical Indicators:

Relative Strength Index (14days): It is at 74.64 indicating a BUY.

Average Directional Change (14days): It is at 51.70 indicating a BUY.

Rate of Price Change: It is at 5.19 indicating a BUY.

Moving Averages Convergence Divergence (12,26): It is at 1043.80 indicating a BUY.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-1st-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 02, 2022, 06:11:08 PM
EUR/USD and EUR/JPY At Risk of More Downsides
(https://i.postimg.cc/8CKsVHgp/Euro-EUR-USD.jpg)

EUR/USD started a fresh decline from the 1.1280 resistance. EUR/JPY is also declining and facing a string resistance near the 128.60 level.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro faced sellers near the 1.1350 zone against the US Dollar. The EUR/USD pair started a fresh decline below the 1.1320 and 1.1300 support levels.

The pair traded below the 1.1280 pivot level and the 50 hourly simple moving average. Finally, the pair traded as low as 1.1089 On FXOpen and is currently consolidating gains. It corrected above the 23.6% Fib retracement level of the recent decline from the 1.1232 high to 1.1089 low.

EUR/USD Hourly Chart
(https://i.postimg.cc/d1h3QyJ8/EURUSD-Chart.jpg)

On the upside, the pair is facing resistance near the 1.1150 level. It is near the 50% Fib retracement level of the recent decline from the 1.1232 high to 1.1089 low.

The next major resistance is near the 1.1180 level. There is also a key bearish trend line forming with resistance near 1.1180 on the hourly chart. A clear break above the 1.1180 resistance could push EUR/USD towards 1.1220.

If the bulls remain in action, the pair could rise above the 1.1220 resistance zone in the near term. On the downside, the pair might find support near the 1.1080 level.

If there is a downside break below the 1.1080 support, the pair might accelerate lower. The next major support sits near the 1.1020 level, below which there is a risk of a larger decline.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-and-eur-jpy-at-risk-of-more-downsides-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 04, 2022, 03:38:20 AM
ETHUSD and LTCUSD Technical Analysis – 03rd MAR, 2022
(https://i.postimg.cc/1551FVpg/dc.jpg)

ETHUSD: Bullish Engulfing Pattern above $2,550

Ethereum had a major bearish correction last month when it declined below the $3,000 handle after touching a high of $3,268 on February 9th.

This week, ETHUSD started in the consolidation phase after which it had a bullish reversal towards the $2,700 handle and touched an intraday high of $2,982 in today’s Asian trading session.

We can clearly see a bullish engulfing pattern above $2,550 which signifies a trend reversal, and we have already seen ETHUSD crossing the level of $2,700.

We saw the price of Ethereum retracting from its highs due to some profit taking, but the bullish channel continues now, and we are aiming for the upside of $2,900 and $3,100 in this week.

ETH is now trading just below its pivot level of $2,967 and moving in a mildly bullish momentum. The price of ETHUSD is now facing its classic resistance level of $3,020 and its Fibonacci resistance level of $3,094, and is now aiming towards the $3,100 handle in the US trading session.

The moving averages are giving a BUY signal.

ETH is now trading below both the 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Channel Towards $3,000 Confirmed
(https://i.postimg.cc/rFnXNyJf/eth.png)

ETHUSD is consolidating its gains above $2,700 in the European trading session, and we can clearly see that the bullish channel is back.

We are now aiming for the upsides of $2,900 to $3,100 today in the US trading session today. The retracement from $2,300 was very strong — which suggests that there is more room for the upsides in Ethereum this month, and the level of $3,500 is the next target.

We can see the MA crossover pattern above the level of $2,850 which means that in the immediate short-term, we will see the continuation of the bullish channel.

ETH has declined -3.47% with a price change of -103.91$ in the past 24hrs, and has a trading volume of 14.424 billion USD.

We can see a decrease of 26% in the trading volume as compared to yesterday, which means that new buyers are now entering the markets and waiting for further correction in Ethereum.

The Week Ahead

Ether is printing above $2,800 today, and we can see levels of $3,000 to $3,200 this week.

The medium-to-long term outlook for Ether remains Bullish with targets of above $3m500 in March, 2021.

Ether has already broken its major resistance level of $2,800, and is now facing the next resistance level of $3,000.

Technical Indicators:

The commodity channel index (14-day): at 94.58 indicating a BUY

The moving averages convergence divergence (14-day): at 3.79 indicating a BUY

The ultimate oscillator: at 53.45 indicating a BUY

The rate of price change: at 0.052 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-03rd-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 04, 2022, 09:29:29 AM
AUD/USD and NZD/USD Aim Upside Break
(https://i.postimg.cc/MZ9mbwdG/AUD-22.jpg)

AUD/USD started a fresh increase from the 0.7100 zone. NZD/USD is also rising and there was a clear move above the 0.6950 resistance.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar found support near the 0.7100 zone against the US Dollar. The AUD/USD pair traded as low as 0.7094 on FXOpen before it started a fresh increase.

There was a clear move above the 0.7120 and 0.7200 resistance levels. The pair surged above the 0.7250 level and the 50 hourly simple moving average. The pair even broke the 0.7300 resistance zone and traded as high as 0.7347.

AUD/USD Hourly Chart
(https://i.postimg.cc/xTqy6Z43/AUDUSD-Chart.jpg)

It is now consolidating gains below 0.7350. On the downside, an initial support is near the 0.7310 level. There is also a key bullish trend line forming with support near 0.7310 on the hourly chart of AUD/USD.

The next support could be the 50 hourly simple moving average or the 23.6% Fib retracement level of the upward move from the 0.7094 swing low to 0.7347 high. If there is a downside break below the 0.7285 support, the pair could extend its decline towards the 0.7220 level.

The 50% Fib retracement level of the upward move from the 0.7094 swing low to 0.7347 high is also near the 0.7220 zone. Any more downsides might send the pair toward the 0.7180 level.

On the upside, the AUD/USD pair is facing resistance near the 0.7350 level. The next major resistance is near the 0.7380 level. A close above the 0.7380 level could start a steady increase in the near term. The next major resistance could be 0.7450.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-aim-upside-break/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 07, 2022, 08:35:08 AM
\GBP/USD and EUR/GBP Could Extend Decline
(https://i.postimg.cc/25JGMrDf/GBPUSD-Sterling-1.jpg)

GBP/USD started a fresh decline from well above the 1.3350 level. EUR/GBP is also declining and trading below the 0.8250 support zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound struggled to settle above the 1.3400 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3350 support zone.

There was a clear move below the 1.3280 level and the 50 hourly simple moving average. The bears pushed the pair below the 1.3200 level. A low is formed near 1.3185 on FXOpen and the pair is now consolidating losses.

GBP/USD Hourly Chart
(https://i.postimg.cc/pdyksy3Z/GBPUSD-Chart.jpg)

On the upside, an initial resistance is near the 1.3240 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.3417 swing high to 1.3185 low.

The next main resistance is near the 1.3280 zone (the previous support). If there is an upside break above the 1.3280 resistance, the price could test 1.3300 or the 50 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the 1.3417 swing high to 1.3185 low.

If there is no upside break, the pair could extend losses below the 1.3185 low. The first key support is near the 1.3150 level. Any more losses could lead the pair towards the 1.3120 support zone. The next major support sits near the 1.3050 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-eur-gbp-could-extend-decline/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 09, 2022, 05:58:44 AM
EUR/USD Could Recover, USD/JPY Eyes More Upsides
(https://i.postimg.cc/c4LN30yN/Euro-Yen-Pound.jpg)

EUR/USD declined heavily to 1.0800 before it started an upside correction. USD/JPY surged above 115.50 and now consolidating gains.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started a major decline from well above 1.1200 against the US Dollar. The EUR/USD pair declined heavily below the 1.1120 support zone.

The pair even broke the 1.0980 level and settled below the 50 hourly simple moving average. A low was formed near 1.0805 on FXOpen and the pair is now correcting higher. There was a move above the 23.6% Fib retracement level of the key decline from the 1.1232 swing high to 1.0805 low.

EUR/USD Hourly Chart
(https://i.postimg.cc/ncSfYgp9/EURUSD-Chart-1.jpg)

There was also a break above a key bearish trend line with resistance near 1.0900 on the hourly chart of EUR/USD. An immediate resistance on the upside is near the 1.0935 level.

The next major resistance is near the 1.0970 level. The main resistance is near the 1.1020 level. It is near the 50% Fib retracement level of the key decline from the 1.1232 swing high to 1.0805 low. An upside break above 1.1020 could set the pace for a steady increase.

If there is no break above 1.0935, the pair might start a fresh decline. An immediate support is near the 1.0880 and the 50 hourly simple moving average. The next major support is near 1.0820, below which the pair could drop to 1.0750 in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-could-recover-usd-jpy-eyes-more-upsides/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 10, 2022, 03:53:21 AM
Gold approaching record high as instability fuels switch to physical assets
(https://i.postimg.cc/G2ndQ989/gold.jpg)

Ever since the very first items were made from gold over 3,500 years ago in the ancient Egyptian period, this particular precious metal has been held in high esteem as a means of storing a potentially appreciating physical asset.

Throughout the ages, whenever an ancient kingdom came under siege, its population would attempt to accumulate gold.

As time developed, and the industrialization of the world began, gold became a benchmark for investment, and has been constantly regarded as one of the most reliable physical commodities available on the global markets. Even in modern times, when a war occurs, or a political catastrophe, people buy gold.

These past few days have been no exception.

During the course of yesterday (March 8, 2022), gold prices rallied and headed toward an all-time high.

In the United States, by 12.10pm Eastern Standard Time (New York), the trading price of gold had risen by a remarkable 3.5% to $2,068.07 an ounce, which brought it near to its record trading value of $2072.50 which was set in the summer of 2020 during the period in which lockdowns were omnipresent across Europe and America, and fears of losing jobs and private property were widespread.

Those fears are here again, this time fueled by heavy-handed sanctions which are decimating the markets across America and Europe. The US stock market is suffering a tech stock obliteration which is beginning to cause analysts to compare it to the 'dot com' collapse of the early 2000s.

This is a very sudden new direction. Tech stocks were the solid, relatively low-risk investment for most investors and traders all the way from those trading part-time from home, to large hedge funds and wealth managers.

Now, with these in decline, the mainstay of the US economy is being measured and global investors are heading for the hard collateral that is precious metal.

Even nickel, which is used in engineering across most heavy industrial applications worldwide from car manufacturing to construction, has been soaring in price to the extent where pricing has become so difficult in the live market that the London Metal Exchange (LME) has suspended its trading.

One report this morning stated that a Chinese investor is facing losses running into the multi-billion-pound range as a result of the volatility in which nickel soared by as much as 111% to a record $101,365, followed by a two-day increase of up to 250% before falling back to $82,250 a tonne.

The London Metal Exchange has been pricing nickel for over 145 years, and yesterday's volatility was an all time record in the entire trading history of the venue.

Precious metals are therefore in huge demand, and gold is unique in that it is primarily used as a store of value, compared to other high-demand metals like copper and nickel whose primary use is in manufacturing and engineering.

Today, Reuters has explained that one particular futures trader had cited the combination of extremely inflationary energy prices, grain prices and base metal prices has contributed the major underlying support behind gold having increased so much in value.

Certainly investors are hanging onto physical assets, and those metals with an engineering use are rocketing due to the difficulties in obtaining them for factories to be able to meet the demand for their products or remain in business without having to halt production, leaving gold as an outright store of value which is heading for all time highs.

Fascinating market moves brought on by highly well analyzed circumstances.

FXOpen Blog (https://www.fxopen.com/blog/en/gold-approaching-record-high-as-instability-fuels-switch-to-physical-assets/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 10, 2022, 03:51:49 PM
ETHUSD and LTCUSD Technical Analysis – 10th MAR, 2022
(https://i.postimg.cc/nLdXZLKd/eth.jpg)

ETHUSD: Head and Shoulders Pattern Below $2,700

Ethereum continued to move in a bearish phase last week, having touched a low of $2,448 on March 7th, after which the prices started to consolidate above the level of $2,500.

We can see ETHUSD moving in a bearish momentum because of the Russia-Ukraine war and its effects on the global investor sentiments.

Despite the fact that some correction was seen in the USD, the medium-term outlook for Ethereum remains bearish with a downside projection of $2,200.

We can clearly see a head-and-shoulders pattern below the $2,700 handle which is a bearish pattern signifying the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just below its pivot level of $2,588 and is moving in a bearish channel. The price of ETHUSD is now testing its classic support level of $2,558, and Fibonacci support level of $2,580 after which the path towards $2,300 will get cleared.

The relative strength index is at 34 indicating a WEAKER demand for Ethereum, as well as the continuation of the selling pressure in the markets.

All of the technical indicators are giving a STRONG SELL market signal.

All of the moving averages are giving a STRONG SELL signal, and we are now looking at the levels of $2300 to $2200 in the short-term range.

ETH is now trading below both its 100 hourly and 200 hourly simple moving averages.


Ether: Bearish Momentum Continues Below $2,700
(https://i.postimg.cc/gJnn0PNG/etx.png)

ETHUSD is now moving in a strongly bearish momentum, with the prices trading below the $2,600 handle in the European trading session today.

Both the Stoch and StochRSI are indicating an OVERSOLD market, which means that a pullback in the levels of Ethereum is expected soon.

The Ethereum bulls have retracted, and we can see that the selling pressure has resumed which is expected to push down the prices below the $2,500 handle.

The prices of ETHUSD need to remain above $2,200 for any bullish reversal in the markets.

At present, we are looking for the immediate target of $2,300 after which it is expected to enter into a consolidation and correction phase.

This week, the key support level to watch is $2,200, and the key resistance level is $2,700.

ETH has declined -5.24% with a price change of -143.26$ in the past 24hrs, and has a trading volume of 13.621 billion USD.

We can see an Increase of 16.69% in the total trading volume in the last 24 hrs, which appears to be normal.

The Week Ahead

Ethereum has already exhausted its consolidation channel and is now moving into its next bearish phase towards the level of $2,300.

The ongoing Russia-Ukraine war crisis is continuing to affect the prices of Ethereum, as new investors are not willing to enter into the market because of the global crisis scenario and the waning demand in the global cryptocurrency markets.

If the prices of ETHUSD continue to remain above $2,200 this week, we can expect a bullish reversal next week.

The immediate short-term outlook for Ether has turned strongly BEARISH; the medium-term outlook has turned bearish; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week. Ether is expected to move in a range between $2,200 and $2,700, and next week, it is expected to enter into a consolidation phase above $2,500.

Technical Indicators:

The moving averages convergence divergence (12,26): at -16.78 indicating a SELL

The commodity channel index (14-day): at -117.12 indicating a SELL

The rate of price change: at -4.37 indicating a SELL

The average directional change (14-day): at 45.85 indicating a SELL

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-10th-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 11, 2022, 07:16:59 AM
Gold Price and Crude Oil Price At Risk of Downside Break
(https://i.postimg.cc/28Ww1Mgn/Gold-price-oil-price.jpg)

Gold price is correcting lower and trading below $2,000. Crude oil price is facing an increase in selling pressure below $105.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a support base near $1,950 and started a fresh increase against the US Dollar. The price gained pace for a move above the $2,000 level to move into a positive zone.

There was a clear move above the $2,020 level and the 50 hourly simple moving average. The price even climbed above the $2,050 resistance level. A high was formed near $2,070 on FXOpen before the price started a downside correction.

Gold Price Hourly Chart
(https://i.postimg.cc/66gc5tb9/Gold-Price-Chart.jpg)

There was a break below the $2,000 level. The price even spiked below the $1,980 level, but it found support near $1,970. A low is formed near $1,970 and the price is now consolidating.

There was a move above the 23.6% Fib retracement level of the recent decline from the $2,070 swing high to $1,970 low. On the upside, the price is facing resistance near the $2,000 level and the 50 hourly simple moving average.

The main resistance is now forming near the $2,020 level. The 50% Fib retracement level of the recent decline from the $2,070 swing high to $1,970 low is also near $2,020. A close above the $2,020 level could open the doors for a steady increase towards $2,050. The next major resistance sits near the $2,070 level.

On the downside, an initial support is near the $1,985 level. There is also key bullish trend line forming with support near $1,985 on the hourly chart of gold. If there is a downside break below the $1,985 level, the price could decline to $1,920.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-at-risk-of-downside-break/)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 14, 2022, 07:06:24 AM
GBP/USD Turns Red, USD/CAD Faces Key Resistance
(https://i.postimg.cc/jSfhRJy4/GBPUSD-Sterling.jpg)

GBP/USD started a major decline below 1.3200. USD/CAD is rising, but facing a major resistance near the 1.2800 zone.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

The British Pound started a strong decline from well above 1.3300 against the US Dollar. The GBP/USD pair gained bearish momentum after there was a break below the 1.3200 support.

The pair even broke the 1.3120 support level and the 50 hourly simple moving average. Finally, there was a move below the 1.3050 support. A low is formed near 1.3011 on FXOpen and the pair is now consolidating losses.

GBP/USD Hourly Chart
(https://i.postimg.cc/gkQD9KL0/GBPUSD-Chart-1.jpg)

On the upside, an initial resistance is near the 1.3050 level. There is also a key bearish trend line forming with resistance near 1.3055 on the hourly chart of GBP/USD. The trend line is close to the 23.6% Fib retracement level of the recent decline from the 1.3194 swing high to 1.3011 low.

The next major resistance is near the 1.3100 level. It is near the 50% Fib retracement level of the recent decline from the 1.3194 swing high to 1.3011 low.

Any more gains could lead the pair towards the 1.3200 barrier in the near term. If not, the pair could continue to move down and might even break the 1.3000 support. If there is a downside break, GBP/USD might test the 1.2950 support. The next major support sits at 1.2880.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-turns-red-usd-cad-faces-key-resistance/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 16, 2022, 05:10:11 AM
BTCUSD and XRPUSD Technical Analysis – 15th MAR 2022
(https://i.postimg.cc/BZPQ8LQb/bt.jpg)

BTCUSD: Double Top Pattern Below $39,800

Bitcoin was unable to continue its bullish momentum last week, and after touching a high of $42,566 on March 9th, started its decline against the US dollar.

The downward phase continues today, and we can see BTCUSD touching $37,500 this week.

Today’s bearish momentum is the result of increased selling by long-term investors due to the continuing war between Russia and Ukraine and its global impact on the safe haven currencies like the US dollar and the yen.

The propagation of the bearish trend continues with bitcoin price trading below the $39,000 mark in today’s European trading session.

We can clearly see a double top pattern below the $39,800 handle which is a Bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

The StochRSI is indicating an OVERSOLD level which means that in the immediate short-term, an upwards correction in the prices is expected.

The relative strength index is at 39 indicating a WEAK demand for bitcoin at the current market levels.

Bitcoin is now moving below its 100 hourly simple moving average and below its 200 hourly exponential moving averages.

All of the major technical indicators are giving a STRONG SELL signal, which means that in the immediate short-term we are expecting targets of $37,000 and $36,500.

The average true range is indicating HIGH market volatility with a strong bearish momentum.


Bitcoin: Bearish Momentum Seen Below $39,900
(https://i.postimg.cc/ZKkY6bCc/btcx.png)

In today’s European trading session, bitcoin continues to move in a strongly bearish momentum with a downside projection towards the level of $36,000.

In the immediate term we are expecting a continuation of this bearish trend, with the prices of bitcoin ranging between the levels of $35,000 and $38,000 as it is due to enter into a consolidation phase now.

The short-term risks have increased for bitcoin, and the selling pressure is expected to continue pushing down the prices below $38,000 today.

The immediate short-term outlook for bitcoin is strongly bearish, the medium-term outlook is bearish, and the long-term outlook remains neutral under present market conditions.

The price of BTCUSD is now facing its classic support level of $37,591 and Fibonacci support level of $38,265 after which the path towards $36,000 will get cleared.

We can see that the daily RSI is also printing at 45 which indicates that in the medium-term prices are expected to fall further.

In the last 24hrs BTCUSD has gone down by -1.49% with a price change of 582$ and has a 24hr trading volume of USD 23.987 billion. We can see an increase of 5.93% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The prices of bitcoin are due to enter into a consolidation phase below $38,000. We can see some range-bounded movements between $35,000 to $38,000.

We can see that market volatility is increasing due to the global war crisis between Russia and Ukraine and its ripple effects on the major currencies and oil sector.

In the immediate short-term, bitcoin’s bearish momentum is expected to continue pushing below the $36,000 handle this week.

The prices of BTCUSD will need to remain above the important support levels of $35,000 this week.

Weekly outlook is projected at $36,000 with a consolidation zone of $37,500.

Technical Indicators:

The relative strength index (14-day): at 39.91 indicating a SELL

The average directional change (14-day): at 24.86 indicating a SELL

The rate of price change: at -0.937 indicating a SELL

The moving averages convergence divergence (12,26): at -45.00 indicating a SELL

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-15th-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 16, 2022, 10:48:24 AM
EUR/USD and EUR/JPY Eye Steady Increase
(https://i.postimg.cc/tJQ7h85Y/Euro-EUR.jpg)

EUR/USD started a recovery wave from the 1.0850 zone. EUR/JPY climbed higher steadily and might rise further above 130.00.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro found support near the 1.0850 zone against the US Dollar. The EUR/USD pair started a recovery wave and was able to climb above the 1.0900 level.

The pair even cleared the 1.0950 level and the 50 hourly simple moving average. Finally, the pair traded spiked to 1.1019 before it corrected gains. A low is formed near 1.0926 on FXOpen and the pair is now moving higher.

EUR/USD Hourly Chart
(https://i.postimg.cc/KjPjQQqQ/EURUSD-Chart-2.jpg)

It moved above the 1.0950 level and tested the 50% Fib retracement level of the recent decline from the 1.1016 high to 1.0926 low.

On the upside, the pair is facing resistance near the 1.1000 level. It is near the 76.4% Fib retracement level of the recent decline from the 1.1016 high to 1.0926 low. The next major resistance is near the 1.1020 level.

A clear break above the 1.1020 resistance could push EUR/USD towards 1.1050. If the bulls remain in action, the pair could rise above the 1.1100 resistance zone in the near term.

On the downside, the pair might find support near the 1.0950 level. There is also a key bullish trend line forming with support near 1.0940 on the hourly chart. If there is a downside break below the 1.0940 support, the pair might accelerate lower. The next major support sits near the 1.0925 level, below which there is a risk of a larger decline.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-and-eur-jpy-eye-steady-increase-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 18, 2022, 05:53:48 AM
ETHUSD and LTCUSD Technical Analysis – 17th MAR, 2022
(https://i.postimg.cc/Z5BWdbHD/eth-1.jpg)

ETHUSD: Bullish Engulfing Pattern Above $2,400

Ethereum ended its bearish phase after touching a low of $2,498 on March 14 and moved into a consolidation channel.

On March 15, ETHUSD entered into a bullish phase which pushed its prices above the $2,700 handle in today’s European trading session.

We can clearly see a bullish engulfing pattern above the $2,400 handle which signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of $2,755 and moving in a bullish channel. The price of ETHUSD is now testing its classic resistance level of $2,763 and Fibonacci resistance level of $2,773, after which the path towards $2,900 will get cleared.

The relative strength index is at 59 indicating a STRONG demand for Ethereum and the continuation of the buying pressure in the markets.

All of the technical indicators are giving a STRONG BUY market signal.

All of the MAs are giving a BUY signal, and we are now looking at the level of $2,800 to $2,900 in the short-term range.

ETH is now trading above both the 100 Hourly and 200 Hourly SMAs.


Ether: Bullish Reversal Seen Above $2,400
(https://i.postimg.cc/Qd2Hg2nN/etx.png)

ETHUSD has gained a strong bullish momentum with the prices trading above the $2,700 handle in the European trading session today.

The StochRSI is indicating an OVERSOLD market, which means that a pullback in the levels of Ethereum can be expected soon.

Ethereum is now moving in a bullish continuation pattern, meaning further appreciation in the prices of ETHUSD.

ETHUSD is now facing its immediate resistance level of $2,775, after which we will see a linear progression towards $2,900.

The key support level to watch is $2,300, and this week’s key resistance level is $2,900.

ETH has gained 4.11% with a price change of 108.62$ in the past 24hrs and has a trading volume of 15.881 billion USD.

We can see a 5.84% increase in the total trading volume in the last 24 hrs. which appears to be normal.

The Week Ahead

Ethereum has entered a consolidation channel above the $2,400 handle and is now moving in a bullish momentum towards $3,000.

For the first time in 3 years, the US Federal Reserve hiked its interest rate by 0.25% which has weakened the US dollar and sparked a rally in some crypto currencies, including Ethereum, which had been weighed down by the Russia-Ukraine war.

The immediate short-term outlook for Ether has turned strongly BULLISH, the medium-term outlook has turned bullish, and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $2,500 and $2,900, and to enter a consolidation phase above $2,900 next week.

Technical Indicators:

The moving averages convergence divergence (12,26): at 30.92 indicating a BUY

The ultimate oscillator: at 52.02 indicating a BUY

The rate of price change: at 1.712 indicating a BUY

The Williams percent range: at -25.91 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-17th-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 18, 2022, 06:13:34 AM
AUD/USD and NZD/USD Eye Additional Upsides
(https://i.postimg.cc/3xsFybXm/AUD-3.jpg)

AUD/USD started a fresh increase above the 0.7300 zone. NZD/USD is also showing positive signs and there was a clear move above the 0.6850 resistance.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar found support near the 0.7180 zone against the US Dollar. The AUD/USD pair traded as low as 0.71654 on FXOpen before it started a fresh increase.

There was a clear move above the 0.7220 and 0.7250 resistance levels. The pair surged above the 0.7320 level and the 50 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near 0.7235 on the hourly chart of AUD/USD.

AUD/USD Hourly Chart
(https://i.postimg.cc/6QCLCLcS/AUDUSD-Chart-1.jpg)

The pair even broke the 0.7380 resistance zone and traded as high as 0.7393. It is now consolidating gains below 0.7350. On the downside, an initial support is near the 0.7345 level. The 23.6% Fib retracement level of the upward move from the 0.7205 swing low to 0.7393 high is also near the 0.7245 level.

The next support could be the 50 hourly simple moving average or 0.7300. It is near the 50% Fib retracement level of the upward move from the 0.7205 swing low to 0.7393 high.

If there is a downside break below the 0.7300 support, the pair could extend its decline towards the 0.7250 level. Any more downsides might send the pair toward the 0.7200 level.

On the upside, the AUD/USD pair is facing resistance near the 0.7395 level. The next major resistance is near the 0.7400 level. A close above the 0.7400 level could start a steady increase in the near term. The next major resistance could be 0.7450.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-eye-additional-upsides/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 21, 2022, 07:52:20 AM
GBP/USD and GBP/JPY Remain Well Supported
(https://i.postimg.cc/C1PWHMkP/GBP-1.jpg)

GBP/USD started a fresh increase from the 1.3000 support zone. GBP/JPY is also rising and might gain pace above the 157.20 resistance zone.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

After forming a base above the 1.3000 support zone, the British Pound found started a fresh increase against the US Dollar. The GBP/USD pair gained pace above the 1.3120 resistance zone to move into a positive zone.

There was also a break above the 1.3150 zone and the 50 hourly simple moving average. It even spiked above the 1.3200 level, but failed to continue higher. The recent high was formed near 1.3196 on FXOpen and the pair is now correcting lower.

GBP/JPY Hourly Chart
(https://i.postimg.cc/Kj1C9X5Z/GBPUSD-Chart-2.jpg)

There was a move below the 1.3175 level. The pair even traded below the 38.2% Fib retracement level of the upward move from the 1.3110 low to 1.3196 high.

It is now approaching the 1.3150 support zone. There is also a key bullish trend line forming with support near 1.3145 on the hourly chart of GBP/USD. It is near the 50% Fib retracement level of the upward move from the 1.3110 low to 1.3196 high.

The next major support is near the 1.3110 level. If there is a break below the 1.3110 support, the pair could test the 1.3050 support. If there are additional losses, the pair could decline towards the 1.3000 level.

If there is a fresh increase, the pair could test the 1.3190 level. The next major hurdle is near 1.3200, above which the pair could surge towards 1.3250 in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-gbp-jpy-remain-well-supported/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 22, 2022, 04:53:39 PM
BTCUSD and XRPUSD Technical Analysis – 22nd MAR 2022
(https://i.postimg.cc/TYXSX09j/Bitcoin-XRP.jpg)

BTCUSD: Bullish Engulfing Pattern Above $38,000

Bitcoin’s bearish phase has ended after touching a low of $37,649 on March 14th. As of now, the price of BTCUSD is moving in a bullish momentum above the $40,000 handle.

A renewed interest in bitcoin is observed as an alternative means of currency in Russia after the global bans imposed against Russian banks. This is one of the reasons why many investors are now buying bitcoin at present market levels.

In today’s European trading session, the propagation of the bullish trend continues with bitcoin trading above $42,000.

We can clearly see a bullish engulfing pattern above the $38,000 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

The Stoch and Williams percent range are indicating an overbought level which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 60 indicating a STRONG demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly simple moving average and its 200 hourly EMA.

All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term we are expecting targets of $43,000 and $45,000.

The average true range is indicating HIGH market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $38,000
(https://i.postimg.cc/v8X814NV/btcx.png)

Bitcoin continues its strong bullish momentum with an upwards projection towards the level of $43,000 in the European trading session today.

In the immediate term, we are expecting a continuation of this bullish trend with the price of bitcoin ranging between $41,000 and $44,000 as it is due to enter into a consolidation phase.

The surge in the prices of bitcoin can also be explained by the optimism around the widespread usage of bitcoin in international cross border transactions between Russia and its trade partners.

The immediate short-term outlook for bitcoin is strongly bullish; the medium-term outlook is neutral; and the long-term outlook remains neutral under present market conditions.

The price of BTCUSD is now facing its classic resistance level of $42,703 and Fibonacci resistance level of $43,197, after which the path towards $44,000 will get cleared.

We can see that the daily RSI is also printing at 56 which indicates that in the medium-term prices are expected to appreciate further.

In the last 24hrs, BTCUSD has gone UP by 2.45% with a price change of $1,009, and has a 24hr trading volume of 33.989 billion USD. We can see an  increase of 53.18% in the trading volume as compared to yesterday, which is due to its increased global demands.

The Week Ahead

The price of bitcoin is due to enter a consolidation phase below $43,000. We can see some range-bound movements in its levels between $41,000 and $44,000.

The on-chain metrics are also indicating a bullish outlook for bitcoin in the short-term range.

In the immediate short term this week, bitcoin’s bullish momentum is expected to continue pushing its levels above the $44,000. Also this week, the price of BTCUSD will need to remain above the important support level of $40,000.

The weekly outlook is projected at $44,000 with a consolidation zone of $42,500.

Technical Indicators:

The relative strength index (14-day): at 56.28 indicating a BUY

The average directional change (14-day): at 20.49 indicating a BUY

The rate of price change: at 9.16 indicating a BUY

The MA convergence divergence (12,26): at 420.80 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-22nd-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 23, 2022, 10:00:15 AM
EUR/USD Faces Hurdle, USD/CHF Could Gain Pace
(https://i.postimg.cc/dVyC7BqW/Euro-EURUSD-1.jpg)

EUR/USD is facing resistance near the 1.1050 and 1.1080 levels. USD/CHF could gain pace if there is a move above the 0.9375 resistance.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro gained pace above the 1.1000 resistance level against the US Dollar. The EUR/USD pair even gained pace above the 1.1100 resistance level.

It traded as high as 1.1139 on FXOpen before the pair started a downside correction. There was a sharp decline below the 1.1100 and 1.1020 support levels. The pair even spiked below 1.1000 and traded as low as 1.0916.

EUR/USD Hourly Chart
(https://i.postimg.cc/jjY7y72R/EURUSD-Chart-3.jpg)

EUR/USD is now rising and trading above 1.1000. There was a break above the 50% Fib retracement level of the recent decline from the 1.1071 swing high to 1.0961 low.

It is now consolidating above the 1.1020 level and the 50 hourly simple moving average. On the upside, an initial resistance is near the 1.1040 level. There is also a key bearish trend line with resistance near 1.1040 on the hourly chart of EUR/USD.

The next major resistance is near the 1.1070 zone. A clear upside break above the 1.1070 zone could open the doors for a steady move. The next major resistance sits near the 1.1140 level.

On the downside, an immediate support is near the 1.1015 level. The next major support is near the 1.0950 level. A downside break below the 1.0950 support could start another decline.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-faces-hurdle-usd-chf-could-gain-pace/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 24, 2022, 02:29:10 PM
ETHUSD and LTCUSD Technical Analysis – 24th MAR, 2022
(https://i.postimg.cc/13xRtDtK/dx.jpg)

ETHUSD: Double Bottom Pattern Above $2,800

Ethereum continues its upwards momentum from last week and has managed to cross the $3,000 levels in today’s European trading session.

The continued appreciation in the price of ETHUSD is a result of an increased demand for holding ETH amid its transition to ETH 2.0.

In today’s early Asian trading session, Ethereum touched an intraday high of $3,078 and an intraday low of $2,972.

We can clearly see a double bottom pattern above the $2,800 handle, which is bullish, and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of $3,055 and moving within a bullish channel. The price of ETHUSD is testing its classic resistance level of $3,067 and Fibonacci resistance level of $3,079 after which the path towards $3,200 will get cleared.

The relative strength index is at 57 indicating a STRONG demand for Ethereum and the continuation of buying pressure in the markets.

All of the technical indicators are giving a STRONG BUY market signal.

All of the moving averages are giving a BUY signal, and we are now looking at the levels of $3,200 to $3,300 in the short-term range.

ETH is now trading above both its 100 hourly and 200 hourly simple moving averages.


Ether Continues Bullish Momentum Above $2,800
(https://i.postimg.cc/9QGmqzwH/etx.png)

ETHUSD has gained a strong bullish momentum with the price trading above the $3,000 handle in the European trading session today.

We can see continued gains in the prices of Ethereum since it touched a low of $2,171 on January 24th, which translates to a gain of 39% in 2 months.

Ethereum is now moving in a bullish continuation pattern which indicates further appreciation in the prices of ETHUSD this week.

ETHUSD is now facing its immediate resistance level of $3,070, after which we will see a linear progression towards $3,200.

This week’s key support level to watch is $3,000, and key resistance level is $3,100.

ETH has gained 3.06% with a price change of 90.27$ in the past 24hrs, and has a trading volume of 17.442 billion USD.

We can see a 25.59% increase in the total trading volume in the last 24 hrs. as more long-term investors are coming back into the markets.

The Week Ahead

At present, Ethereum bulls have managed to push the prices of ETHUSD above $3,000. If the price of ETHUSD remains above these levels, we may see a linear progression towards $3,200 and $3,300 this week.

The immediate short-term outlook for Ether has turned strongly BULLISH, the medium-term outlook has turned bullish, and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $3,000 and $3,200, and next week, Ether is expected to enter a consolidation phase above $3,200.

ETH 2.0

Ethereum is to enter into a proof-of-stake consensus mechanism which will eliminate the high energy mining requirements and also bring down the ETH transaction fees.

This Ethereum 2.0 upgrade will happen in phases. The final transition will reduce the total energy requirements by 99% and at the same time scale the network capacity by increasing the number of transactions to 100,000 transactions per second (TPS). In comparison, at present, the leading payment service network VISA can process up to 65,000 TPS.

Technical Indicators:

The moving averages convergence divergence (12,26): at 15.93 indicating a BUY

The ultimate oscillator: at 54.44 indicating a BUY

Rate of price change: at 2.514 indicating a BUY

The Williams percent range: at -31.74 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-24th-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 25, 2022, 07:26:08 AM
Gold Price and Crude Oil Price Eye Additional Gains
(https://i.postimg.cc/YCyQbrZ8/Gold-price-oil-price-1.jpg)

Gold price started a fresh increase above the $1,950 resistance. Crude oil price could regain traction if it stays above the $105 support zone.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a support base near $1,910 and started a fresh increase against the US Dollar. The price gained pace for a move above the $1,930 level to move into a positive zone.

There was a clear move above the $1,950 level and the 50 hourly simple moving average. The price even climbed above the $1,960 resistance level. Besides, there was a break above a key bearish trend line with resistance near $1,932 on the hourly chart of gold.

Gold Price Hourly Chart
(https://i.postimg.cc/mgrQYzXt/Gold-Price-Chart-1.jpg)

A high was formed near $1,965 on FXOpen and the price is now consolidating gains. On the downside, an initial support is near the $1,958 level. The first major support is near the $1,952 level. It is near the 23.6% Fib retracement level of the upward move from the $1,910 swing low to $1,965 high.

The next major support is near the $1,950 level. The main support sits near the $1,938 level. It is near the 50% Fib retracement level of the upward move from the $1,910 swing low to $1,965 high.

On the upside, the price is facing resistance near the $1,965 level. The main resistance is now forming near the $1,980 level. A close above the $1,980 level could open the doors for a steady increase towards $2,000. The next major resistance sits near the $2,030 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-eye-additional-gains-3/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 28, 2022, 08:05:50 AM
GBP/USD and EUR/GBP Remain At Risk of More Losses
(https://i.postimg.cc/Bv4V0sjP/GBPUSD-Cable.jpg)

GBP/USD started a fresh decline from well above the 1.3250 level. EUR/GBP is also declining and trading below the 0.8350 support zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound struggled to settle above the 1.3280 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3250 support zone.

There was a clear move below the 1.3220 level and the 50 hourly simple moving average. The bears pushed the pair below the 1.3200 level. There was a break below the 50% Fib retracement level of the upward move from the 1.3120 swing low to 1.3298 high (formed on FXOpen).

GBP/USD Hourly Chart
(https://i.postimg.cc/8C4nk3vK/GBPUSD-Chart-3.jpg)

Besides, there was a break below a key contracting triangle with support near 1.3170 on the hourly chart of GBP/USD.

The pair is now trading below the 76.4% Fib retracement level of the upward move from the 1.3120 swing low to 1.3298 high. It seems like the pair might continue to move down towards the 1.3130 support zone.

The next major support sits near the 1.3120 level. Any more losses could lead the pair towards the 1.3050 support zone. On the upside, an initial resistance is near the 1.3175 level.

The next main resistance is near the 1.3185 zone (the previous support) or the 50 hourly simple moving average. A clear upside break above the 1.3185 and 1.3200 resistance levels could open the doors for a steady increase in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-eur-gbp-remain-at-risk-of-more-losses?utm_source=altcoinstalks_forum&utm_campaign=forum&utm_campaign=gbp-usd-and-eur-gbp-remain-at-risk-of-more-losses_vm)



Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 29, 2022, 03:57:37 PM
BTCUSD and XRPUSD Technical Analysis – 29th MAR 2022
(https://i.postimg.cc/c46WWvdp/btcxrp.jpg)

BTCUSD: Bullish Engulfing Pattern Above $42,000

We can see continuous appreciation in the price of BTCUSD from last week, and today it has managed to cross the $47,000 handle in the European trading session.

Due to increased buying pressure, the price of bitcoin has been rising for 7 consecutive days, and the upwards growth also suggests that we are aiming for the level of $50,000.

The strong wave of this bullish trend continues, with the price of bitcoin trading above the $47,500 mark in the European trading session today.

We can clearly see a bullish engulfing pattern above the $42,000 handle, which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

The Stoch and Williams percent range are indicating an overbought level, which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 57 indicating a STRONG demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly simple moving average, and its 200 hourly exponential MA.

All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 46,000 and 48,000.

The average true range is indicating LESSER market volatility with a strongly bullish momentum.


Bitcoin: Bullish Continuation Pattern Seen Above $42,000
(https://i.postimg.cc/PJ5jPxY8/btcx.png)

Bitcoin continues to move in a strong bullish momentum with an upwards projection towards the level of $48,000 in the European trading session today.

In the immediate short term, we are expecting a continuation of this bullish trend with the price ranging between $46,000 and $49,000 as it is due to enter into a consolidation phase.

We can see optimism among bitcoin traders, as it has managed to continue its upwards trend in the short-term range.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook is bullish, and the long-term outlook remains neutral under present market conditions.

The price of BTCUSD is now facing its classic resistance level of 47,668 and Fibonacci resistance level of 47,726, after which the path towards 48,000 will get cleared.

We can see that the daily RSI is printing at 70 which indicates that in the medium-term prices are expected to appreciate further.

In the last 24hrs BTCUSD has gone UP by 1.39% with a price change of 653$, and has a 24hr trading volume of USD 35.173 billion. We can see an increase of 2.78% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is due to enter a consolidation phase below the level of $48,000. We can see some range-bound movement in its levels between $46,000 to $48,000.

On January 24th bitcoin touched a low of $32,950, after which it has managed to rise by more than 41% to its current market level of $47,456.

In the immediate short term, bitcoin’s bullish momentum is expected to continue pushing its levels above the $48,000 handle this week. The price of BTCUSD will need to remain above the important support level of $45,000.

The weekly outlook is projected at $49,000 with a consolidation zone of $46,500.

Technical Indicators:

The relative strength index (14-day): at 56.33 indicating a BUY

The average directional change (14-day): at 29.23 indicating a BUY

Bull/Bear power(13-day): at 72.28 indicating a BUY

The moving averages convergence divergence (12,26): at 275.90 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-29th-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 30, 2022, 11:08:30 AM
EUR/USD Attempts Recovery While USD/JPY Trims Gains
(https://i.postimg.cc/028dR3Fz/Euro-EUR-1.jpg)

EUR/USD started a fresh increase from the 1.0940 support zone. USD/JPY rallied above 124.50 before it faced sellers near 125.00.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started saw bearish moves below the 1.1050 level against the US Dollar. The EUR/USD pair declined heavily below the 1.1000 support zone.

The pair even broke the 1.0980 level and settled below the 50 hourly simple moving average. A low was formed near 1.0944 on FXOpen and the pair is now correcting higher. There was a move above the 1.1000 resistance levels.

EUR/USD Hourly Chart
(https://i.postimg.cc/HsB0pz1B/EURUSD-Chart-4.jpg)

Besides, there was a break above a key bearish trend line with resistance near 1.1025 on the hourly chart of EUR/USD. The pair climbed above the 1.1050 resistance and the 50 hourly simple moving average.

It formed a high near 1.1136 and is currently consolidating gains. It tested the 23.6% Fib retracement level of the recent increase from the 1.0944 swing low to 1.1136 high.

An immediate support is near the 1.1080. The next major support is near 1.1040 or the 50% Fib retracement level of the recent increase from the 1.0944 swing low to 1.1136 high, below which the pair could drop to 1.1000 in the near term.

An immediate resistance on the upside is near the 1.1120 level. The next major resistance is near the 1.1140 level. The main resistance is near the 1.1150 level. An upside break above 1.1150 could set the pace for a steady increase.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-attempts-recovery-while-usd-jpy-trims-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 31, 2022, 05:07:47 PM
ETHUSD and LTCUSD Technical Analysis – 31st MAR, 2022
(https://i.postimg.cc/hPHzdLBd/eth.jpg)

ETHUSD: Bullish Engulfing Pattern Above $3,100

Ethereum continues its bullish momentum from last week and has managed to touch the $3,400 handle in the European trading session today.

Ethereum touched an intraday high of 3,423 and an intraday low of 3,372 in the early Asian trading session today.

We can clearly see a Bullish engulfing pattern above the $3,100 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 3,400 and is moving in a strongly bullish channel. The price of ETHUSD is now testing its classic resistance level of 3,407 and Fibonacci resistance level of 3,411, after which the path towards 3,500 will get cleared.

The relative strength index is at 54 indicating a NEUTRAL demand for Ethereum and the move towards the consolidation phase.

Both the Stoch and RSI are indicating a neutral level which means that the prices are due to enter into a consolidation zone.

All of the technical indicators are giving a STRONG BUY market signal.

All of the moving averages are giving a STRONG BUY signal, and we are now looking at the levels of $3,500 to $3,600 in the short-term range.

ETH is now trading above both its 100 and 200 hourly simple moving averages.


Ether Continues Bullish Momentum Above $3,100
(https://i.postimg.cc/HkXJ4rYP/etx.png)

ETHUSD is now moving in a strongly bullish momentum with the prices trading above the $3,300 handle in the European trading session today.

We can see the Ichimoku bullish crossover pattern in the 1-hour timeframe which further validates the bullish momentum.

Ethereum is now moving in a bullish continuation pattern which indicates further appreciation in the prices of ETHUSD this week.

ETHUSD is now facing its immediate resistance level of $3,461 and $3,508, after which we will see a linear progression towards the level of $3,600.

The key support levels to watch are $3,351 and $3,229, and the price of ETHUSD needs to remain above these levels for the continuation of the bullish trend.

ETH has gained 0.08% with a price change of 2.61$ in the past 24hrs, and has a trading volume of 14.183 billion USD.

We can see a decrease of 27.33% in the total trading volume in the last 24 hrs. as Ethereum braces to enter into a consolidation zone.

The Week Ahead

At present, Ethereum bulls have managed to push the prices of ETHUSD above the level of $3,300. If the price of ETHUSD remains above these levels, we may see a linear progression towards the level of $3,500 and $3,600 this week.

The immediate short-term outlook for Ether has turned strongly BULLISH, the medium-term outlook has turned neutral, and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $3,300 and $3,500, and next week, Ether is expected to enter in a consolidation phase above $3,300.

Technical Indicators:

The commodity channel index (14-day): at 60.38 indicating a BUY

Bull/Bear power (13-day): at 14.53 indicating a BUY

The rate of price change: at 0.160 indicating a BUY

The Williams percent range: at -41.74 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-31st-mar-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 01, 2022, 09:13:22 AM
Gold Price Could Rally While Oil Price Extends Decline
(https://i.postimg.cc/rwLMS61C/goldx.jpg)

Gold price started a fresh increase above the $1,920 resistance. Crude oil price is declining and remains at a risk of more losses below $97.50

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a support base near $1,890 and started a fresh increase against the US Dollar. The price gained pace for a move above the $1,900 level to move into a positive zone.

There was a clear move above the $1,920 level and the 50 hourly simple moving average. The price even climbed above the $1,932 resistance level. However, it faced resistance near the $1,948 and $1,950 levels.

Gold Price Hourly Chart
(https://i.postimg.cc/DyG7JfXw/Gold-Price-Chart.jpg)

There is also a key bearish trend line forming with resistance near $1,942 on the hourly chart of gold. A high is formed near $1,949 and the price is now consolidating gains.

It tested the 23.6% Fib retracement level of the upward move from the $1,890 swing low to $1,949 high. On the downside, an initial support is near the $1,992 level and the 50 hourly simple moving average. The next major support is near the $1,925 level.

The main support sits near the $1,920 level. It is near the 50% Fib retracement level of the upward move from the $1,890 swing low to $1,949 high.

On the upside, the price is facing resistance near the $1,948 level. The main resistance is now forming near the $1,950 level. A close above the $1,950 level could open the doors for a steady increase towards $1.980. The next major resistance sits near the $2,000 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-could-rally-while-oil-price-extends-decline/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 04, 2022, 10:04:28 AM
GBP/USD and USD/CAD Face Key Hurdles
(https://i.postimg.cc/05Xyk9Nb/GBPUSD-British-Pound.jpg)

GBP/USD is struggling below the 1.3200 resistance. USD/CAD is rising, but it must clear 1.2530 to start a fresh increase in the near term.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

The British Pound started a strong decline from well above 1.3320 against the US Dollar. The GBP/USD pair gained bearish momentum after there was a break below the 1.3250 support.

The pair even broke the 1.3200 support level and the 50 hourly simple moving average. Finally, there was a move below the 1.3100 support. A low was formed near 1.3051 on FXOpen and the pair is now correcting losses.

GBP/USD Hourly Chart
(https://i.postimg.cc/xTkTqBkg/GBPUSD-Chart.jpg)

The recent swing low was near 1.3086 and the pair is now consolidating. It is trading above the 23.6% Fib retracement level of the recent decline from the 1.3175 swing high to 1.3086 low.

An immediate resistance is near the 1.3130 level and the 50 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the 1.3175 swing high to 1.3086 low. Besides, there is a key bearish trend line forming with resistance near 1.3140 on the hourly chart of GBP/USD.

The next major resistance is near the 1.3150 level. Any more gains could lead the pair towards the 1.3200 barrier in the near term.

If not, the pair could continue to move down and might even break the 1.3050 support. If there is a downside break, GBP/USD might test the 1.3000 support. The next major support sits at 1.2950.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-usd-cad-face-key-hurdles/a)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 05, 2022, 03:55:52 PM
Fed Plans To Accelerate Monetary Tightening. Is It a Good Time To Buy US Dollars?

(https://i.postimg.cc/pdGmNR28/fed.jpg)

The currency market moves mainly on the interest rate differential between various central banks around the world. The Federal Reserve of the United States is the most influential central bank, as it sets the rates over the world’s reserve currency.

In April, the Fed began a tightening cycle. It hiked the federal funds rate by 25bp in light of rising inflation and strong economic growth. Moreover, it warned that it is ready to hike even more aggressively should the data support it.

Following the rate hike, the Fed Chair Jerome Powell suggested that the Fed is ready to hike the federal funds rate by 50bp at their next meeting in May. In light of rising rates in the US as the economy grows and inflation runs hot, is it a good time to buy US dollars?
(https://i.postimg.cc/3wJkbdHY/1.jpg)

US Dollar Trades With A Mixed Tone

Despite the Fed’s hawkishness, the US dollar trades with a mixed tone. On the one hand, it has gained against its European peers, such as the euro and the British pound, and against the Japanese yen. On the other hand, it trades with a weak tone against the New Zealand and the Australian dollar.

Interestingly enough, the RBA and RBNZ have not raised the rates from their lower boundary. Yet, the two currencies down under are being bid against the dollar.

One explanation might be the inflation rate differential. Inflation in the US is at a four decade high, outpacing the one in Australia and New Zealand.

As such, despite the Fed’s intentions to speed up the rate hikes, the rising inflation rate is eroding the dollar’s strength. In other words, inflation is rising much higher than the Fed is hiking the rates; thus, the US dollar remains weak against its Australian and New Zealand peers.

The conflict in Europe scared investors away from the common currency. While not declining as many have thought, the euro remains weak as investors keep selling any rally.

All in all, the US dollar remains bid against the JPY and European currencies while offered against the Australian and New Zealand dollars. Traders will find out more details about the Fed’s plans on Wednesday when the previous meeting’s minutes are scheduled for release.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/fed-plans-to-accelerate-monetary-tightening-is-it-a-good-time-to-buy-us-dollars/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 05, 2022, 06:01:57 PM
BTCUSD and XRPUSD Technical Analysis – 05th APR 2022
(https://i.postimg.cc/bY48N2nC/btx.jpg)

BTCUSD: Double Bottom Pattern Above $44,000

Bitcoin touched a high of $48,164 on March 28th , after which we saw some correction that pushed its price below the $45,000 handle.

We can see fresh buying pressure coming back into the markets, and bitcoin is trading above the $46,000 handle in the European trading session today.

We can see a rising trend channel in the medium term, which is expected to push the prices of BTCUSD towards the $50,000 handle.

We can clearly see a double bottom pattern above the $44,000 handle, which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

The Stoch and the Williams percent range are indicating an overbought level, which means that in the immediate short term, a decline in the price is expected.

The relative strength index is at 55, indicating a STRONG demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly simple Ma, and its 200 hourly exponential MA.

All of the major technical indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of 48,000 and 50,000.

The average true range is indicating a LESSER market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $44,000
(https://i.postimg.cc/h4XcB0XQ/btc.png)

Bitcoin continues to move in a mildly bullish momentum with an upwards projection towards the level of 48,000 in the European trading session today.

In the immediate short term, we are expecting a continuation of this bullish trend, with the prices of bitcoin ranging between $48,000 and $49,000 as it has entered into a consolidation phase now.

The drop in the level of BTCUSD that we saw last week happened due to the profit-taking by short-term investors.

The immediate short-term outlook for bitcoin is mildly bullish; the medium-term outlook is bullish; and the long-term outlook remains neutral under present market conditions.

The price of BTCUSD is now facing its classic resistance level of 46,735, and Fibonacci resistance level of 46,802, after which the path towards 48,000 will get cleared.

We can see that the daily RSI is also printing at 62 which indicates that in the medium-term, the prices are expected to appreciate further.

In the last 24hrs, BTCUSD has gone UP by 1.51% with a price change of $692, and has a 24hr trading volume of USD 30.612 billion. We can see an increase of 8.03% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is now moving into a consolidation phase below $48,000. We can see some range-bound movements in the levels between $46,000 to $48,000.

The hourly RSI has also confirmed the rising trend channel which indicates that in the medium-term, prices are expected to move closer to the level of $50,000.

The on-chain metrics are also suggesting that after the present consolidation phase is over, we are aiming towards crossing the $50,000 handle.

In the immediate short term, bitcoin’s bullish momentum is expected to continue pushing above the $49,000 handle this week.

The prices of BTCUSD will need to remain above the important support level of $47,500 this week.

Weekly outlook is projected at $50,000 with a consolidation zone of $48,500.

Technical Indicators:

The rate of price change: at 10.13 indicating a BUY

The ultimate oscillator: at 51.55 indicating a BUY

Bull/Bear power(13-day): at 2289 indicating a BUY

The moving averages convergence divergence (12,26): at 1490 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-05th-apr-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 06, 2022, 07:48:33 AM
EUR/USD Faces Hurdle, USD/CHF Could Gain Pace
(https://i.postimg.cc/SsxdpNqL/Euro-EURUSD.jpg)

EUR/USD declined heavily below the 1.1000 and 1.0980 levels. USD/CHF could gain pace if there is a move above the 0.9320 resistance.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro struggled to gain pace above the 1.1180 resistance level against the US Dollar. The EUR/USD pair started a fresh decline below the 1.1150 and 1.1100 support levels.

There was a clear move below the 1.1000 level and the 50 hourly simple moving average. The pair even declined below the 1.0940 support level. It traded as low as 1.0890 on FXOpen and the pair is now consolidating losses.

EUR/USD Hourly Chart
(https://i.postimg.cc/C1rNMTL3/EURUSD-Chart.jpg)

On the upside, an initial resistance is near the 1.0915 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.0988 swing high to 1.0890 low.

The next major resistance is near the 1.0920 zone. There is also a major bearish trend line with resistance near 1.0925 on the hourly chart of EUR/USD. A clear upside break above the 1.0925 zone could open the doors for a steady move.

The next major resistance sits near the 1.0940 level. It is near the 50% Fib retracement level of the recent decline from the 1.0988 swing high to 1.0890 low. A close above 1.0940 and 1.0950 could send EUR/USD further higher.

On the downside, an immediate support is near the 1.0890 level. The next major support is near the 1.0880 level. A downside break below the 1.0880 support could start another decline.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-faces-hurdle-usd-chf-could-gain-pace/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 07, 2022, 04:04:18 PM
ETHUSD and LTCUSD Technical Analysis – 07th APR, 2022
(https://i.postimg.cc/RZytBVXK/eth.jpg)

ETHUSD: Double Bottom Pattern Above $3,100

Ethereum failed to continue its bullish momentum last week, and after touching a high of 3578 on April 4th, has started to decline.

Ethereum touched an intraday low of $3,143 in the Asian trading session, and an intraday high of $3,233 in the European trading session today.

We can clearly see a double bottom pattern above the $3,100 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of $3,223 and moving in a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of $3,235 and Fibonacci resistance level of $3,246, after which the path towards $3,400 will get cleared.

The relative strength index is at 44 indicating a WEAK demand for Ethereum and the move towards consolidation.

Both the StochRSI and the Williams percent range are indicating an overbought level which means that the price is due to decline further.

Most of the technical indicators are giving a STRONG BUY market signal.

Some of the moving averages are giving a BUY signal, and we are now looking at the levels of $3,400 to $3,550 in the short-term range.

ETH is now trading below both the 100 hourly and 200 hourly simple moving averages.


Ether: Bullish Reversal Seen Above $3,100
(https://i.postimg.cc/j5rJD3Vj/etx.png)

ETHUSD is now moving into a mildly bullish channel with the price trading above the $3,200 handle in the European trading session today.

We saw last week that the bullish move was invalidated above the $3,500 handle, and this week, we are looking at the level of $3,400. If ETH manages to cross and remain above these levels, then we can see $3,500 and $3,600 next week.

Ethereum is now slowly recovering against the US dollar, and we can see the formation of an ascending contraction triangle which means that the prices are due to break out upwards.

ETHUSD is now facing its immediate resistance levels of $3,337 and $3,417, after which we will see a linear progression towards $3,600.

The key support levels to watch are $3,175 and $3,153, and the prices of ETHUSD need to remain above these levels for the bullish trend to continue.

ETH has lost -4.00% with a price change of -133.99$ in the past 24hrs, and has a trading volume of 22.874 billion USD.

We can see a 8.29% decrease in the total trading volume in the last 24 hrs, which appears to be normal.

The Week Ahead

Last week, we saw Ethereum decline from its highs of $3,579 to the low of $3,143, but now we can see that the prices have entered into a consolidation phase above $3,200.

If the price of ETHUSD remains above $3,200, we may see a linear progression towards the level of $3,400 and $3,500 this week.

The immediate short-term outlook for Ether has turned mildly BULLISH; the medium-term outlook has turned neutral; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $3,200 and $3,400, and next week, Ether is expected to enter into a consolidation phase above the level of $3,400.

On-Chain Metrics
(https://i.postimg.cc/yNRZY4b5/onchain.jpg)

We can see that the number of active Ethereum addresses are increasing, and it also points to an increase in the price of ETH next week.

The simple moving average (14-day) of the active receiving addresses also suggests that more buyers are now coming back into the markets, which has led to an increase in the number of Ethereum transactions.

Technical Indicators:

The Stoch (9,6): at 74.29 indicating a BUY

The average directional Change (14-day): at 54.71 indicating a BUY

The commodity channel index (14-day): at 74.31 indicating a BUY

The ultimate oscillator: at 62.37 indicating a BUY

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-technical-analysis-07th-apr-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 08, 2022, 08:09:21 AM
AUD/USD and NZD/USD Turn Red, Risk of More Losses
(https://i.postimg.cc/Jh8nNWBJ/AUD-22.jpg)

AUD/USD gained bearish momentum below the 0.7550 support zone. NZD/USD started a major decline after it faced sellers near 0.7030.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar faced a strong selling interest near the 0.7660 level against the US Dollar. The AUD/USD pair started a major decline below the 0.7600 level.

There was a clear move below the 0.7600 and 0.7580 support levels. The pair even declined below the 0.7550 support level and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 0.7530 on the hourly chart of AUD/USD.

AUD/USD Hourly Chart
(https://i.postimg.cc/QMqMSnpz/AUDUSD-Chart.jpg)

The pair traded as low as 0.7466 on FXOpen and is currently consolidating losses. On the upside, the AUD/USD pair is facing resistance near the 0.7500 level.

The next major resistance is near the 0.7515 level. It is near the 23.6% Fib retracement level of the recent decline from the 0.7660 swing high to 0.7466 low. The first major resistance is now forming near the 0.7550 level.

The 50% Fib retracement level of the recent decline from the 0.7660 swing high to 0.7466 low is also near the 0.7565 level. A close above the 0.7565 level could start a steady increase in the near term. The next major resistance could be 0.7660.

On the downside, an initial support is near the 0.7460 level. The next support could be the 0.7420 level. If there is a downside break below the 0.7420 support, the pair could extend its decline towards the 0.7350 level. Any more downsides might send the pair toward the 0.7300 level.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-turn-red-risk-of-more-losses-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 11, 2022, 10:14:16 AM
GBP/USD Dives While GBP/JPY Aims More Upsides
(https://i.postimg.cc/QC2ZX2sJ/GBPUSD-Sterling.jpg)

GBP/USD started another decline from well above the 1.3120 level. GBP/JPY is rising and might gain pace above the 162.75 resistance zone

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound attempted a recovery wave above the 1.3120 level against the US Dollar. However, the GBP/USD pair failed to gain strength for a move above the 1.3150 resistance.

As a result, the pair reacted to the downside and traded below the 1.3100 level. There was a clear move below the 1.3050 support and the 50 hourly simple moving average. It even spiked below 1.3000 and traded as low as 1.2982 on FXOpen.

GBP/USD Hourly Chart
(https://i.postimg.cc/fLbN57Bm/GBPUSD-Chart-1.jpg)

It is currently attempting an upside correction above 1.3000. There was a move above the 23.6% Fib retracement level of the recent decline from the 1.3106 swing high to 1.2982 low.

However, the pair is facing a major resistance near the 1.3040 and 1.3050 levels. There is also a key bearish trend line forming with resistance near 1.3030 on the hourly chart of GBP/USD. The 50% Fib retracement level of the recent decline from the 1.3106 swing high to 1.2982 low is also above the trend line.

The next major hurdle is near 1.3080, above which the pair could rise towards 1.3150 in the near term. If not, the pair might continue to decline below 1.3000.

The next major support is near the 1.2950 level. If there is a break below the 1.2950 support, the pair could test the 1.2880 support.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-dives-while-gbp-jpy-aims-more-upsides/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 11, 2022, 06:13:50 PM
Euro Finds Buyers Ahead of the ECB Meeting
(https://i.postimg.cc/bJPtBQgw/euro.jpg)

A new trading week has just started, and the name of the game in the FX market is the JPY weakness. Since the Bank of Japan said in March that it would buy unlimited amounts of JGBs, the JPY pairs have gone through the roof.

Perhaps the most impressive rally is the one observed in the EUR/JPY cross. After initially dropping to 124 when the Russia-Ukraine war started, the cross reversed course dramatically and now trades close to 137, having gone up by almost 1,300 pips higher in about a month.

But the EUR/JPY cross is not the only EUR pair that has found support at lower levels. Even the EUR/USD has, despite the fact that the Federal Reserve of the US is already raising rates, while the ECB does not plan to do so anytime soon.

(https://i.postimg.cc/L4DYQFLL/1-1.jpg)

EUR/USD Still Bearish While Below the Pivotal Level

EUR/USD has been selling aggressively this year. First, there was the increased divergence between the Federal Reserve and the ECB. As traders saw the Fed become more vocal regarding the new tightening cycle, the ECB is only moderately hawkish.

Secondly, the war in Ukraine triggered a selloff as investors preferred not to take any risk and avoid the common currency. As such, the EUR/USD dropped below 1.12, a pivotal level for the pair.

In other words, despite a possible double bottom pattern, the EUR/USD remains bearish while below 1.12. A close above 1.12, however, would turn the bias bullish as investors would try for the measured move seen at 1.16.

ECB Meeting Looms Large

On Thursday, the ECB presents its monetary policy for the period ahead. The central bank faces a difficult task.

On the one hand, inflation runs way above the ECB’s tolerance level. As such, the central bank has issued some hawkish statements, and the market now anticipates that the deposit rate will be lifted from the current level this year.

On the other hand, the war in Ukraine calls for caution in tightening the monetary policy. Inflation is triggered by the supply side, and hiking rates will not help. Instead, hiking rates might trigger an economic recession.

All in all, this week, we will find out more about the ECB’s plans. One thing is sure – the common currency is being bought on every move lower so far.



FXOpen Blog (https://www.fxopen.com/blog/en/euro-finds-buyers-ahead-of-the-ecb-meeting/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 12, 2022, 03:48:27 PM
BTCUSD and XRPUSD Technical Analysis – 12th APR 2022
(https://i.postimg.cc/Gmw4x20Q/bitcoin.jpg)

BTCUSD: Double Bottom Pattern Above $39,000

Bitcoin was unable to continue its last week’s bullish momentum and started to decline after touching a high of $47,184 on April 5th.

Bitcoin broke the $40,000 support and touched a low of $36,210 in today’s Asian trading session.

The selloff continues across the crypto markets, and the global investor sentiments are low due to the continuation of the Russia-Ukraine war and its emerging impacts on the prices of energy and stock markets.

After falling below the $40,000 handle, bitcoin found support and has entered a mildly bullish channel in today’s European trading session.

We can clearly see a double bottom pattern above the $39,000 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

The Stoch and the Williams percent range are indicating an overbought level which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 43 indicating a WEAK demand for bitcoin at the current market levels.

Bitcoin is now moving below its 100 hourly simple moving average and its 200 hourly exponential moving average.

Most of the major technical indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of $41,000 and $43,000.

The average true range is indicating LESSER market volatility with a mild bullish momentum.


Bitcoin: Bullish Reversal Seen Above $39,000
(https://i.postimg.cc/3w9WhFkS/btcx.png)

Bitcoin continues to move in a mildly bullish momentum with an upwards projection towards the level of $41,000 in the European trading session today.

In the immediate term, we are expecting a continuation of this bullish trend with the price of bitcoin ranging between the levels of $42,000 and $44,000 as it has entered into a consolidation phase now.

The drop in the level of BTCUSD that we saw last week was due to the profit-taking by the short-term investors.

The immediate short-term outlook for bitcoin is mildly bullish; the medium-term outlook is neutral; and the long-term outlook remains neutral under present market conditions.

The price of BTCUSD is now facing its classic resistance level of $40,336 and Fibonacci resistance level of $40,454, after which the path towards $41,000 will get cleared.

We can see that the daily RSI is below 50 printing at 38 which indicates that in the medium-term prices are expected to decline further.

In the last 24hrs, BTCUSD has gone down by 3.17% with a price change of -$1319, and has a 24hr trading volume of USD 36.665 billion. We can see an Increase of 60.52% in the trading volume as compared to yesterday, which is due to the selling by the long-term Investors.

The Week Ahead

The price of bitcoin is now moving in a consolidation phase above the level of $40,000. We can see some range-bounded movements between $41,000 and $43,000.

If the prices of bitcoin continue to remain above the important psychological support level of $40,000, next week, we may see some correction in the midrange upwards towards the $42,000 handle.

In the immediate short term, bitcoin’s mildly bullish momentum is expected to continue pushing to above the $41,000 handle this week.

The price of BTCUSD will need to remain above the important support level of $40,000 this week.

The weekly outlook is projected at $42,000 with a consolidation zone of $41,500.

BTC Market Cap
(https://i.postimg.cc/nLnMNPh9/btccap.png)

Due to the weak global investor sentiments coupled with the ongoing Russia-Ukraine war and the rising inflation, the BTC market cap has fallen down below $800 billion.

The present total market capitalization of bitcoin stands at $764 billion.

Technical Indicators:

The average directional change (14-day): at 44.90 indicating a BUY

The ultimate oscillator: at 62.26 indicating a BUY

Bull/Bear power (13-day): at 227.32 indicating a BUY

The rate of price change: at 0.88 indicating a BUY



Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-12th-apr-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 13, 2022, 07:58:12 AM
EUR/USD Remains At Risk While EUR/JPY Eye More Gains
(https://i.postimg.cc/3xsSZhCC/Euro-EURUSD-1.jpg)

EUR/USD started a fresh decline from the 1.0940 resistance. EUR/JPY could gain pace if it clears the 136.30 resistance zone.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro made a couple of attempts to clear the 1.0940 resistance zone against the US Dollar. However, the EUR/JPY pair failed to gain strength above 1.0940 and started a fresh decline.

The pair declined below the 1.0900 support and the 50 hourly simple moving average. There was also a break below a key contracting triangle with support near 1.0880 on the hourly chart. The pair even moved below the 1.0840 support level.

EUR/USD Hourly Chart
(https://i.postimg.cc/TPnk7st8/EURUSD-Chart-1.jpg)

A low is formed near 1.0811 on FXOpen and the pair is now consolidating losses. It corrected above the 23.6% Fib retracement level of the recent decline from the 1.0903 high to 1.0811 low.

On the upside, the pair is facing resistance near the 1.0850 level. It is near the 50% Fib retracement level of the recent decline from the 1.0903 high to 1.0811 low. The next major resistance is near the 1.0865 level and the 50 hourly simple moving average.

A clear break above the 1.0865 resistance could push EUR/USD towards 1.0900. If the bulls remain in action, the pair could rise revisit the 1.0940 resistance zone in the near term.

On the downside, the pair might find support near the 1.0820 level. If there is a downside break below the 1.0820 support, the pair might accelerate lower. The next major support sits near the 1.0765 level, below which there is a risk of a larger decline.



Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-remains-at-risk-while-eur-jpy-eye-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 14, 2022, 04:20:15 PM
ETHUSD and LTCUSD Technical Analysis – 14th APR, 2022
(https://i.postimg.cc/8zd8p74x/etx.jpg)

ETHUSD: Double Bottom Pattern Above $2,900

Ethereum failed to continue its bullish momentum last week, and started to decline after touching a high of 3,299 on April 8th.

It touched an intraday low of 3,093 in the Asian trading session, and an intraday high of 3,142 in today’s European trading session.

We can clearly see a double bottom pattern above the $2,900 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 3,111 and moving in a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 3,120 and Fibonacci resistance level of 3,128, after which the path towards 3,200 will get cleared.

The relative strength index is at 59 indicating a STRONG demand for Ethereum and the continuation of the bullish trend.

Both the average directional change and commodity channel index are indicating a neutral level which means that the prices are due to enter into a consolidation phase.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a STRONG BUY signal, and we are now looking at the levels of $3,300 to $3,350 in the short-term range.

ETH is now trading below both the 100 hourly and exponential moving averages.


Ether: Bullish Reversal Seen Above $2,900
(https://i.postimg.cc/NfHqnJHs/eth.png)

ETHUSD is now moving in a mildly bullish channel with the price trading above the $3,100 handle in the European trading session today.

Ethereum is now slowly preparing for its next move against the US dollar. We can see the formation of a contraction triangle pattern, which shows price building energy, and we can see the A-C and B-D trendlines.

ETHUSD is now facing its immediate resistance levels of $3,128 and $3,300, after which we will see a linear progression towards the level of $3,400.

The key support levels to watch are $2,906 and $3,034, and the prices of ETHUSD need to remain above these levels for the bullish trend to continue.

ETH has gained 2.05% with a price change of $62.64 in the past 24hrs and has a trading volume of 15.476 billion USD.

We can see a decrease of 19.10% in the total trading volume in the last 24 hrs, which appears to be normal.

The Week Ahead

Last week, we saw Ethereum decline from its highs of 3,299 to the lows of 2,951, but now we can see that the prices have entered a consolidation phase above the level of 3,000.

If the price of ETHUSD remains above $3,000, we may see a linear progression towards the levels of $3,200 and $3,350 this week.

The immediate short-term outlook for Ether has turned mildly BULLISH; the medium-term outlook has turned neutral; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $3,100 and $3,300, and next week, it is expected to enter a consolidation phase above $3,300.

Technical Indicators:

The Williams percent range: at -44.92 indicating a BUY

The moving averages convergence divergence (12,26): at 15.85 indicating a BUY

The rate of price change: at 0.332 indicating a BUY

Bull/Bear power (13-day): at 16.23 indicating a BUY



Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-14th-apr-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 15, 2022, 08:49:49 AM
Gold Price and Oil Price Could Extend Gains
(https://i.postimg.cc/C5hQhzWh/Gold-price-oil-price-2-1.jpg)

Gold price started a fresh increase above the $1,960 resistance. Crude oil price is also rising and might climb further above the $107.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a support base near $1,910 and started a fresh increase against the US Dollar. The price gained pace for a move above the $1,925 level to move into a positive zone.

There was a clear move above the $1,960 level and the 50 hourly simple moving average. The price even climbed above the $1,975 resistance level. However, it faced resistance near the $1,980 and $1,982 levels.

Gold Price Hourly Chart
(https://i.postimg.cc/fLjPQxqq/Gold-Price-Chart-1.jpg)

A high is formed near $1,981 on FXOpen and the price is now consolidating gains. There was a minor decline below $1,970, but the bulls were active near $1,960.

The price recovered and climbed above the 50% Fib retracement level of the downward move from the $1,981 swing high to $1,960 low. The price is now trading well above $1,960 and the 50 hourly simple moving average.

On the upside, the price is facing resistance near the $1,975 level. The main resistance is now forming near the $1,980 level. A close above the $1,980 level could open the doors for a steady increase towards $1,990. The next major resistance sits near the $2,000 level.

On the downside, an initial support is near the $1,970 level. There is also a key bullish trend line forming with support near $1,968 on the hourly chart of gold.

The next major support is near the $1,960 level, below which there is a risk of a larger decline and the price might even struggle to stay above $1,950.



Daily Market Analysis By FXOpen (https://www.fxopen.com/blog/en/gold-price-and-oil-price-could-extend-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 18, 2022, 07:51:13 AM
GBP/USD Edge Lower While EUR/GBP Could Surge
(https://i.postimg.cc/y6m0M6jQ/GBP-1.jpg)

GBP/USD started a fresh decline from well above the 1.3120 level. EUR/GBP is rising and might attempt an upside break above the 0.8300 resistance zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound struggled to settle above the 1.3120 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3080 support zone.

There was a clear move below the 1.3050 level and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.2972 swing low to 1.3146 high.

GBP/USD Hourly Chart
(https://i.postimg.cc/NfQRBhPg/GBPUSD-Chart-2.jpg)

Besides, there was a break below a key contracting triangle with support near 1.3060 on the hourly chart of GBP/USD.

The pair is now trading near 1.3020. The next major support sits near the 1.3110 level. It is near the 76.4% Fib retracement level of the upward move from the 1.2972 swing low to 1.3146 high. Any more losses could lead the pair towards the 1.2975 support zone or even 1.2950.

On the upside, an initial resistance is near the 1.3040 level. The next main resistance is near the 1.3070 zone and the 50 hourly simple moving average. A clear upside break above the 1.3070 and 1.3100 resistance levels could open the doors for a steady increase in the near term.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-edge-lower-while-eur-gbp-could-surge/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 19, 2022, 06:10:21 PM
US Dollar Strengthened Ahead of the Federal Reserve’s May Meeting
(https://i.postimg.cc/SKvXJGL4/dcx.jpg)

The main event of the Easter week was the European Central Bank (ECB) meeting that ended last Thursday. The central bank left the monetary policy unchanged and even though it sounded more hawkish than expected, the euro lost ground against the US dollar.

The ECB announced that it would end its asset purchases in the third quarter of this year but acknowledged that the ECB and the Fed are on different paths in their policy normalization plans.

While the ECB may deliver one or two rate hikes this year, the Fed already hiked once. Moreover, many voices inside the FOMC Committee favor a 50bp rate hike in May, thus widening the gap between the interest rates on the two sides of the Atlantic.

Since COVID-19 started two years ago, many have been shocked by the Fed’s and other central banks’ responses to the pandemic. Monetary and fiscal policies expansion have led to excessive inflation, hurting savings and driving investors into inflation-protecting assets.

Some bought cryptocurrencies such as Bitcoin and Ethereum in the hope that they will keep their value intact. Some other ones bought gold, the traditional hedge against inflation.

But the one currency that did appreciate was the US dollar. With all the doom and gloom over the years, the US dollar remains the de-facto world’s reserve currency.

(https://i.postimg.cc/VN6rfhC4/12.jpg)

The greenback has no rival, as almost 60% of the world’s reserves are in dollars. The euro comes in a distant second place, while the Japanese yen is in third place.

This is an important statistic ahead of the Fed’s May meeting. The three central banks (the Fed, the ECB, and the Bank of Japan) have different and divergent monetary policies.

As mentioned earlier, the Fed started to tighten the monetary policy. Excessive inflation will push the  Fed to hike at every meeting in 2022 and, most likely, more than 25bp.

Moreover, the Fed has begun the process of shrinking its balance sheet. Quantitative tightening is the opposite of quantitative easing, thus contributing to even tighter financial conditions.

The ECB, as argued above, is nowhere near the Fed in terms of policy normalization. While inflation in Europe is above the ECB’s target, the war in Ukraine prevents the central bank from raising rates too fast.

As for the Bank of Japan is involved in a yield curve control process that led to one of the fastest depreciation on record for the Japanese yen.

Therefore, the central banks of the three top currencies in which reserves are kept have divergent policies. They all favor a stronger dollar ahead of the Fed’s May meeting and beyond.


FXOpen Blog (https://www.fxopen.com/blog/en/us-dollar-strengthened-ahead-of-the-federal-reserves-may-meeting/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 19, 2022, 07:04:03 PM
BTCUSD and XRPUSD Technical Analysis – 19th APR 2022
(https://i.postimg.cc/jSmH1N2M/bitcoin.jpg)

BTCUSD – Bullish Engulfing Pattern Above $38500

Bitcoin was not able to sustain its bullish momentum last week and after touching a high of 41491 on 14th April, started to decline against the US Dollar.

The bearish momentum in Bitcoin continues, which managed to push down its prices below the $39000 handle this week.

After forming a Bearish Triangulation pattern, the prices started to enter into a consolidation phase and staged a recovery above the $38500 handle in the European Trading session today.

We can see a Bullish Engulfing Pattern above the $38500 handle, which is a Bullish reversal pattern because it signifies the end of a Downtrend and a shift towards an Uptrend.

STOCH and Williams Percent Range are indicating Overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative Strength Index is at 62 indicating a STRONG demand for Bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly Simple Moving average and its 200 hourly Exponential Moving averages.

Most of the Major Technical Indicators are giving a BUY Signal, which means that in the immediate short term we are expecting targets of 42000 and 43500.

Average True Range is indicating LESS Market Volatility with a Strong Bullish momentum.


Bitcoin Bullish Reversal is Seen Above $38500
(https://i.postimg.cc/8CvRg5rN/btcx.png)

Bitcoin has moved out of the falling trend seen in the last week and now continues to consolidate its gains above the $40000 handle in the European Trading session.

The recent decline in the prices of Bitcoin was due to the weak global investor sentiment which pushed down the prices of all Cryptocurrencies.

When Bitcoin recovers from its losses and trades above the important psychological support levels of $40000 new investors are also willing to enter the markets.

Some short selling is expected at the levels of 40702 and 40741 as indicated by the MA5 and MA10 crossover patterns.

The immediate short-term outlook for Bitcoin is Strong Bullish, the Medium-term outlook has turned Bullish, and the long-term outlook remains Neutral under present market conditions.

The price of BTCUSD is now facing its Classic resistance levels of 40852 and Fibonacci resistance levels of 40967 after which the path towards 42000 will get cleared.

In the last 24hrs, BTCUSD is UP by 4.45% by 1732$ and has a 24hr trading volume of USD 31.487 Billion. We can see an increase of 24.43% in the Trading volume as compared to yesterday, which is due to the buying seen by the medium-term Investors.

The Week Ahead

The prices of Bitcoin touched an Intraday High of $41252 after which we can see some correction below the $41000 handle.

We can see the formation of the Demand zone above the $38500 and the continuation of the bullish trend in the markets.

The On-chain analysis is predicting a short-term Rally at the prices of Bitcoin towards the $45000 handle this week.

The current market condition is suitable for entering into a BUY position with targets of $44000 and $45500 in the next week.

The prices of BTCUSD will need to remain above the important support levels of $41000 this week.

The weekly outlook is projected at $44000 with a consolidation zone of $43500.

Technical Indicators:

Moving Averages Convergence Divergence (12,26): It is at 176.50 indicating a BUY.

Average Directional Change(14days): It is at 38.75 indicating a BUY.

Bull/ Bear Power(13days): It is at 217.06 indicating a BUY.

Relative Strength Index: It is at 62 indicating a BUY.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-19th-apr-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 20, 2022, 10:58:11 PM
EUR/USD Faces Hurdles, USD/JPY Continues To Rally
(https://i.postimg.cc/y6PnPQ1v/Euro-Yen-Pound.jpg)

EUR/USD is attempting an upside correction above 1.0800. USD/JPY rallied above 128.50 and traded to a new 20-year high.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started saw bearish moves below the 1.0950 level against the US Dollar. The EUR/USD pair declined heavily below the 1.0900 support zone.

The pair even broke the 1.0850 level and settled below the 50 hourly simple moving average. A low was formed near 1.0757 on FXOpen and the pair is now correcting higher. There was a move above the 1.0800 resistance level.

EUR/USD Hourly Chart
(https://i.postimg.cc/YqCRy6jk/EURUSD-Chart-2.jpg)

Besides, there was a break above a key bearish trend line with resistance near 1.0805 on the hourly chart of EUR/USD. The pair climbed above the 1.0810 zone and the 50 hourly simple moving average.

It tested the 38.2% Fib retracement level of the key decline from the 1.0923 swing high to 1.0757 low. An immediate resistance on the upside is near the 1.0825 level. The next major resistance is near the 1.0840 level.

The 50% Fib retracement level of the key decline from the 1.0923 swing high to 1.0757 low is also near the 1.0840 level. The main resistance is near the 1.0850 level. An upside break above 1.0850 could set the pace for a steady increase.

If not, the pair might drop and test the 1.0800 support. The next major support is near 1.0790 or the 50 hourly simple moving average, , below which the pair could drop to 1.0760 in the near term.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-faces-hurdles-usd-jpy-continues-to-rally/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 21, 2022, 06:22:43 PM
ETHUSD and LTCUSD Technical Analysis – 21st APR, 2022
(https://i.postimg.cc/ht93JFb9/eth.jpg)

ETHUSD: Bullish Engulfing Pattern Above $2,800

Ethereum entered a consolidation channel last week, after which it started to decline touching a low of $2,883 on April 18th in the US trading session.

Ethereum touched an intraday low of $3,066 in the Asian trading session, and an intraday high of $3,108 in the European trading session today.

We can clearly see a bullish engulfing pattern above the $2,800 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 3,092 and moving in a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 3,111 and Fibonacci resistance level of 3,121, after which the path towards 3,200 will get cleared.

The relative strength index is at 53 indicating a STRONG demand for Ethereum and the continuation of the bullish trend.

Both the StochRSI and Williams percent range are indicating an overbought level which means that the price is due to decline in the short term.

All of the technical indicators are giving a STRONG BUY market signal. All of the moving averages are giving a STRONG BUY signal, and we are now looking at the levels of $3,300 to $3,400 in the short-term range.

ETH is now trading above both the 100 hourly and exponential moving averages.


Ether: Bullish Reversal Seen Above $2,800
(https://i.postimg.cc/mrBpCd8K/etx.png)

ETHUSD is now moving in a mildly bullish channel with the price trading above the $3,100 handle in the European trading session today.

Ethereum is slowly preparing for its next move against the US dollar. We can see the formation of a bullish harami pattern above the $3,000 handle, and further validates the bullish momentum present in the markets.

ETHUSD is now facing its immediate resistance levels of $3,146 and $3,216, after which we will see a linear progression towards the level of $3,300.

The key support levels to watch are $2,898 and $3,022, and the prices of ETHUSD need to remain above these levels for the continuation of the bullish trend.

ETH has gained 0.07% with a price change of $2.31 in the past 24hrs, and has a trading volume of 16.372 billion USD.

We have seen an increase of 19.21% in the total trading volume in the last 24 hrs. which appears to be normal.

The Week Ahead

This week, the price of Ethereum continues to remain above the 200-day SMA and is now poised towards the formation of a rally into the markets.

As ETH 2.0 is nearing, the projected outlook for Ethereum is close to $5,000 after the successful implementation of the upgrade.

If the price of ETHUSD remains above $3,000, we may see a linear progression towards $3,300 and $3,400 this week.

The immediate short-term outlook for Ether has turned mildly BULLISH; the medium-term outlook has turned neutral; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $3,100 and $3,300, and next week, Ether is expected to enter into a consolidation phase above $3,300.

Technical Indicators:

Stoch (9,6): at 57.06 indicating a BUY

The moving averages convergence divergence (12,26): at 2.19 indicating a BUY

The ultimate oscillator: at 54.11 indicating a BUY

Bull/Bear power (13-day): at 20.56 indicating a BUY


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-21st-apr-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 23, 2022, 03:11:29 AM
AUD/USD and NZD/USD At Clear Risk of More Downsides
(https://i.postimg.cc/rwSC6xCN/AUD-2.jpg)

AUD/USD gained bearish momentum below the 0.7400 support zone. NZD/USD started a major decline after it faced sellers near 0.6815.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar faced a strong selling interest near the 0.7450 level against the US Dollar. The AUD/USD pair started a major decline below the 0.7420 level.

There was a clear move below the 0.7400 and 0.7380 support levels. The pair even declined below the 0.7350 support level and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 0.7390 on the hourly chart of AUD/USD.

AUD/USD Hourly Chart
(https://i.postimg.cc/pdRQPrsb/AUDUSD-Chart-1.png)

The pair traded as low as 0.7332 on FXOpen and is currently consolidating losses. On the upside, the AUD/USD pair is facing resistance near the 0.7350 level.

The next major resistance is near the 0.7360 level. It is near the 23.6% Fib retracement level of the recent drop from the 0.7457 swing high to 0.7332 low. The first major resistance is now forming near the 0.7400 level.

The 50% Fib retracement level of the recent drop from the 0.7457 swing high to 0.7332 low is also near the 0.7395 level. A close above the 0.7400 level could start a steady increase in the near term. The next major resistance could be 0.7450.

On the downside, an initial support is near the 0.7330 level. The next support could be the 0.7300 level. If there is a downside break below the 0.7300 support, the pair could extend its decline towards the 0.7250 level. Any more downsides might send the pair toward the 0.7220 level.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-at-clear-risk-of-more-downsides/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 25, 2022, 08:05:00 AM
GBP/USD Takes A Hit, USD/CAD Eyes More Gains
(https://i.postimg.cc/VLzR3gvf/GBPUSD-Sterling-1.jpg)

GBP/USD started a major decline below the 1.3000 support. USD/CAD gained bullish momentum for a move above the 1.2650 level.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After struggling to clear the 1.3100 resistance zone, the British Pound found started a fresh decline against the US Dollar. GBP/USD traded below the 1.3000 support level to move into a bearish zone.

The bears gained strength for a move below the 1.2900 level and the 50 hourly simple moving average. The pair even spiked below the 1.2800 level and traded as low as 1.2793 on FXOpen. It is now consolidating above the 1.2800 level.

GBP/USD Hourly Chart
(https://i.postimg.cc/XNfLHmV1/GBPUSD-Chart-3.jpg)

An immediate resistance is near the 1.2820 level. There is also a short-term bearish trend line forming with resistance near 1.2820 on the hourly chart of GBP/USD.

The next key resistance is near the 1.2860 level. It is near the 23.6% Fib retracement level of the downward move from the 1.3090 swing high to 1.2793 low. The first major resistance is near the 1.2940 level.

The 50% Fib retracement level of the downward move from the 1.3090 swing high to 1.2793 low is also near the 1.2940 level. If there is an upside break above the 1.2940 zone, the pair could rise towards 1.3000. The next key resistance could be 1.3050, above which the pair could gain strength.

On the downside, the first support is near the 1.2800 area. The first major support is near the 1.2750 level. If there is a break below 1.2750, the pair could extend its decline. The next key support is near the 1.2625 level. Any more losses might call for a test of the 1.2550 support.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-takes-a-hit-usd-cad-eyes-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 27, 2022, 02:45:31 AM
BTCUSD and XRPUSD Technical Analysis – 26th APR 2022
(https://i.postimg.cc/qMszYgh6/btcx.jpg)

BTCUSD: Double Bottom Pattern Above $38,000

Bitcoin was not able to sustain its bullish momentum last week, and after touching a high of $42,901 on April 21st, started to decline heavily against the US dollar.

The shortselling continued pushing down the price of BTC below the $39,000 handle, after which we saw some consolidation.

A falling trend channel is forming on the chart, expected to push down the price of bitcoin below the $38,000 handle. We can also  see a double bottom pattern above the $38,000 handle — which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

The Stoch and Williams percent range are indicating an overbought level, meaning that in the immediate short term, a decline in the price is expected.

The relative strength Index is at 61 indicating a STRONG demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly SMA and its 200 hourly exponential MA.

Most of the major tech indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of $42,000 and $43,000.

The average true range is indicating LESSER market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $38,000
(https://i.postimg.cc/28R12n6f/btc.png)

Bitcoin has moved out of the falling trend we observed last week and now continues to consolidate its gains above the $40,000 handle in the European trading session. The bounce that we have seen above the $38,000 handle is expected to continue this week, and we are now looking at the targets of $42,000 and $45,000 in the medium-term range.

The immediate short-term outlook for bitcoin is bullish; the medium-term outlook has turned bullish; the long-term outlook remains neutral under present market conditions.

We are now looking at possible reversal and short selling at $40,500 and $40,450, as indicated by the MA5 and MA10 crossover pattern. This is further validated by the overbought level seen in the Stoch and Williams percent range.

The price of BTCUSD is now facing its classic resistance level of $40,514 and Fibonacci resistance level of $40,627 after which the path towards $42,000 will get cleared.

In the last 24hrs, BTCUSD has gone UP by 4.83% with a price change of 1859$, and has a 24hr trading volume of USD 32.922 billion. We can see an increase of 27.77% in the trading volume compared to yesterday, which is due to the buying by the medium-term investors.

The Week Ahead

The price of bitcoin touched an intraday high of $40,776 after which we saw some correction below the $40,500 handle.

We are now in the low volatility zone, and a surge in the price is expected leading to the increase in volatility levels.

The on-chain analysis is predicting a short-term rally towards the $45,000 handle this week.

The current market condition is suitable for entering into a BUY position with targets of $43,000 and $45,000 for next week.

This week, the price of BTCUSD will need to remain above the important support level of $40,000.

The weekly outlook is projected at $43,000 with a consolidation zone of $42,500.

Technical Indicators:

The moving averages convergence divergence (12,26): at 252.30 indicating a BUY

The average directional change (14-day): at 51.53 indicating NEUTRAL levels

Bull/Bear power (13-day): at 115.78 indicating a BUY

The relative strength index: at 61 indicating a BUY


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-26th-apr-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 27, 2022, 11:59:32 AM
EUR/USD Resumes Decline, USD/CHF Eyes More Gains
(https://i.postimg.cc/7ZGpdFhC/Euro-EUR-USD.jpg)

EUR/USD declined heavily below the 1.0850 and 1.0750 levels. USD/CHF could gain pace if there is a move above the 0.9630 resistance.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro struggled to gain pace above the 1.0920 resistance level against the US Dollar. The EUR/USD pair started a fresh decline below the 1.0850 and 1.0750 support levels.

There was a clear move below the 1.0700 level and the 50 hourly simple moving average. The pair even declined below the 1.0650 support level. It traded as low as 1.0633 on FXOpen and the pair is now consolidating losses.

EUR/USD Hourly Chart
(https://i.postimg.cc/RZkjBgJg/EURUSD-Chart-3.jpg)

On the upside, an initial resistance is near the 1.0665 level. There is also a major bearish trend line with resistance near 1.0670 on the hourly chart of EUR/USD.

The next major resistance is near the 1.0700 level and the 50 hourly simple moving average. It is near the 23.6% Fib retracement level of the key drop from the 1.0936 swing high to 1.0633 low. The next major resistance is near the 1.0750 zone.

A clear upside break above the 1.0750 zone could open the doors for a steady move. In the stated case, the pair might even surpass the 50% Fib retracement level of the key drop from the 1.0936 swing high to 1.0633 low.

On the downside, an immediate support is near the 1.0635 level. The next major support is near the 1.0600 level. A downside break below the 1.0600 support could start another decline.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-resumes-decline-usd-chf-eyes-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 29, 2022, 03:26:13 AM
ETHUSD and LTCUSD Technical Analysis – 28th APR, 2022
(https://i.postimg.cc/prC2wkwp/dcx.jpg)

ETHUSD: Rounding Bottom Pattern Above $2,700

Ethereum was unable to sustain its bullish momentum this week, and after touching a high of $3,036 on April 26th started to decline against the US dollar.

The bearish momentum has pulled down the prices of Ethereum below the $2,800 handle touching a low of $2,766 on April 26th.

The price has entered a consolidation channel above the $2,700 handle; we are in a mildly bullish phase in the European trading session.

We can clearly see a rounding bottom pattern above the $2,700 handle, which is a bullish pattern signifying the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of $2,924 and is moving in a mildly bullish channel. The price of ETHUSD is testing its classic resistance level of $2,948 and Fibonacci resistance level of $2,966, after which the path towards $3,100 will get cleared.

The relative strength index is at 63 indicating a STRONG demand for Ethereum and the continuation of the bullish trend.

Both the StochRSI and Williams percent range are indicating an overbought level which means that the prices are due to decline in the short term.

All of the technical indicators are giving a STRONG BUY market signal.

All of the moving averages are giving a STRONG BUY signal, and we are now looking at the levels of $3,200 to $3,350 in the short-term range.

ETH is now trading above both the 100 hourly and exponential MAs.


Ether: Bullish Reversal Seen Above $2,700
(https://i.postimg.cc/2j78L81r/etx.png)

ETHUSD is now moving in a mildly bullish channel, with the price trading above the $2,900 handle in the European trading session today.

Ethereum’s demand is increasing, which is leading to a slow rise in its levels, and now we are looking at the immediate targets of $3,000 and $3,150.

ETHUSD is now facing its immediate resistance level of $3,149 and $3,203, after which we will see a linear progression towards $3,300. The key support levels to watch are $2,869 and $2,880, and the price of ETHUSD need to remain above these levels for the continuation of the bullish trend.

ETH has gained 1.88% with a price change of 54.35$ in the past 24hrs, and has a trading volume of 17.239 billion USD.

We can see a decrease of 16.56% in the total trading volume in the last 24 hrs, which appears to be normal.

The Week Ahead

We can see the formation of a bearish harami pattern in the 15-minute timeframe, which indicates a potential short-term reversal in its levels. This is also confirmed by the MA200 crossover pattern located at $2,964 and $2,943.

The transaction fees of Ethereum continue to decline by more than 90% in a period of 6 months. At present, the average transaction fee is about $5.80.

The on-chain metrics are also indicating a bullish scenario for Ethereum in the medium-term range with a projection level of $3,800 to $4,000.

The immediate short-term outlook for Ether has turned mildly BULLISH; the medium-term outlook has turned neutral; the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $3,000 and $3,200, and next week, Ether is expected to enter a consolidation phase above the level of $3,200.

Technical Indicators:

Stoch (9,6): at 51.80 indicating a NEUTRAL level

The moving averages convergence divergence (12,26): at 9.17 indicating a BUY

The ultimate oscillator: at 56.21 indicating a BUY

Bull/ Bear power (13-day): at 78.86 indicating a BUY


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-28th-apr-2022/)




Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 29, 2022, 08:47:19 AM
Gold Price And Crude Oil Price Hold Key Support
(https://i.postimg.cc/Y98rpC4q/Gold-price-oil-price-2-2.jpg)

Gold price is trading above a major support near $1,850. Similarly, crude oil price must stay above $94.30 to remain in a positive zone.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

This past month, gold price started a strong increase from the $1,780 support zone against the US Dollar. There was a clear break above the $1,800 and $1,900 resistance levels.

The price accelerated its gains above the $2,000 level and settled well above the 50-day simple moving average. It traded to a new multi-year high at $2,070 on FXOpen. Recently, it started a downside correction below the $2,000 level.

Gold Price Daily Chart
(https://i.postimg.cc/26CjRZSK/Gold-Price-Chart-2.jpg)

There was a break below the 50% Fib retracement level of the upward move from the $1,780 low to $2,070 high. It even traded below $1,925 and the 50-day simple moving average.

An initial support on the downside is near the $1,872 level. The main support is near the $1,850 level and the 76.4% Fib retracement level of the upward move from the $1,780 low to $2,070 high. There is also a major bullish trend line forming with support near $1,830 on the daily chart of gold.

Any further losses may perhaps open the doors for a larger decline towards the $1,800 and $1,780 levels in the near term. On the upside, an initial resistance is near the $1,925 level.

The first major resistance is near the $1,935 level. A clear break above the $1,935 barrier might call for a move towards $2,000.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-and-crude-oil-price-hold-key-support/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 02, 2022, 09:04:45 AM
GBP/USD Struggle Continues, GBP/JPY Eyes More Gains
(https://i.postimg.cc/d0QbrmK8/GBPUSD-Sterling.jpg)

GBP/USD started another decline from well above the 1.2900 level. GBP/JPY is rising and might gain pace above the 164.20 resistance zone.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound started a major decline from the 1.3090 zone against the US Dollar. The GBP/USD pair broke the 1.3000 support zone to enter a bearish zone.

There was a clear move below the 1.2900 support and the 50 hourly simple moving average. It even traded below the 1.2750 and 1.2620 support levels. Finally, there was a move below the 1.2450 level and the pair traded as low as 1.2411 on FXOpen.

GBP/USD Hourly Chart
(https://i.postimg.cc/W17RdYxN/GBPUSD-Chart.jpg)

It is currently attempting an upside correction above 1.2500. There was a move above the 23.6% Fib retracement level of the key decline from the 1.3090 swing high to 1.2411 low.

There was also a break above a key bearish trend line with resistance near 1.2500 on the hourly chart of GBP/USD. However, the pair is facing a major resistance near the 1.3600 and 1.3620 levels. The next major hurdle is near the 1.2750 level.

The 50% Fib retracement level of the key decline from the 1.3090 swing high to 1.2411 low is also near the 1.2750 level. If there is no upside break above 1.2620, the pair could start a fresh decline.

An immediate support is near the 1.2525 level and the 50 hourly simple moving average. The next major support is near the 1.2500 level. If there is a break below the 1.2500 support, the pair could test the 1.2420 support.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-struggle-continues-gbp-jpy-eyes-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 04, 2022, 09:20:27 AM
EUR/USD and EUR/JPY Could Extend Downsides
(https://i.postimg.cc/fWHkcXW7/Euro-EUR.jpg)

EUR/USD started a fresh decline from the 1.0750 resistance. EUR/JPY could extend downsides if there is a move below the 136.50 support.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro made a couple of attempts to clear the 1.0750 resistance zone against the US Dollar. However, the EUR/USD pair failed to gain strength above 1.0750 and started a fresh decline.

The pair declined below the 1.0600 support and the 50 hourly simple moving average. The pair even moved below the 1.0550 support level. A low was formed near 1.0470 on FXOpen before the pair started a short-term upside correction.

EUR/USD Hourly Chart
(https://i.postimg.cc/Nf5FpML3/EURUSD-Chart.jpg)

There was a move above the 1.0520 resistance level. It corrected above the 23.6% Fib retracement level of the key drop from the 1.0758 high to 1.0470 low.

On the upside, the pair is facing resistance near the 1.0580 level. It is near the 38.2% Fib retracement level of the key drop from the 1.0758 high to 1.0470 low. The next major resistance is near the 1.0620 level.

A clear break above the 1.0620 resistance could push EUR/USD towards 1.0700. If the bulls remain in action, the pair could revisit the 1.0750 resistance zone in the near term.

On the downside, the pair might find support near the 1.0500 level. There is also a key bullish trend line forming with support near 1.0500 on the hourly chart. If there is a downside break below the 1.0500 support, the pair might accelerate lower. The next major support sits near the 1.0470 level, below which there is a risk of a larger decline.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-and-eur-jpy-could-extend-downsides/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 06, 2022, 07:08:10 AM
ETHUSD and LTCUSD Technical Analysis – 05th MAY, 2022
(https://i.postimg.cc/vZwnnhdH/eth.jpg)

ETHUSD: Bullish Engulfing Pattern above $2,750

Ethereum was moving in a bearish phase last week and touched a low of 2,725 on May 1st, after which it entered into a consolidation channel above the $2,750 handle.

This week, ETHUSD started moving in a bullish channel, and managed to cross the $2,900 handle in the European trading session today.

We can clearly see a bullish engulfing pattern above $2,750 which signifies the end of a bearish trend and the start of a bullish trend.

We can see that the price of Ethereum has retracted from its highs due to some profit taking, but the bullish channel continues, and we are aiming for the upsides of $3,100 and $3,300 this week.

ETH is now trading just below its pivot level of 2,936 and moving in a mild bullish momentum. The price of ETHUSD is now facing its classic resistance level of 2,944, Fibonacci resistance level of 2,960, and is now aiming towards the $3,000 handle in the US trading session.

Most of the moving averages are giving a BUY signal.

ETH is now trading below both its 100 hourly and 200 hourly simple MAs.



Ether: Bullish Channel Above $2900 Confirmed
(https://i.postimg.cc/Jz3k5X13/etx.png)

ETHUSD has consolidated its gains above $2,900 in the European trading session, and we can clearly see that the bullish channel is back.

We are now aiming for the upsides of $3,000 to $3,100 in today’s US trading session. The retracement from $2,721 was very strong which suggests that there is more room for the upsides in Ethereum this month, and a level of $3,500 is the next target.

We can see the MA crossover pattern above the level of 2,850 which means that in the immediate short term we will see the continuation of the bullish channel.

ETH has gained 2.86% with a price change of 81.25$ in the past 24hrs, and has a trading volume of 17.890 billion USD.

We can see an increase of 36% in the trading volume as compared to yesterday which means that new buyers are entering the markets and waiting for further correction in the levels of Ethereum.

The Week Ahead

Ether is printing above $2,980 today, and we can see levels of $3,000 to $3,200 this week.

The medium-to-long term outlook for Ether remains bullish with targets of above 3,500 in May.

With the US Federal Reserve increasing its benchmark interest rate by half a percentage point, the price of Ethereum continues rising along with other top cryptocurrencies.

Ether has already broken its major resistance level of $2,800 and is now facing the next resistance level of $3,000.

Technical Indicators:

The commodity channel index (14-day): at 135.24 indicating a BUY

The moving averages convergence divergence (14-day): at 14.80 indicating a BUY

The ultimate oscillator: at 61.44 indicating a BUY

The rate of price change: at 3.39 indicating a BUY


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-05th-may-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 06, 2022, 07:34:41 AM
AUD/USD and NZD/USD Might Struggle To Recover Losses
(https://i.postimg.cc/cCFrbp9d/AUD.jpg)

AUD/USD gained bearish momentum below the 0.7150 support zone. NZD/USD started a major decline after it faced sellers near 0.6565.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar faced a strong selling interest near the 0.7265 level against the US Dollar. The AUD/USD pair started a major decline below the 0.7200 level.

There was a clear move below the 0.7160 and 0.7150 support levels. Besides, there was a break below a major bullish trend line with support near 0.7160 on the hourly chart of AUD/USD. The pair declined below the 50% Fib retracement level of the upward move from the 0.7030 swing low to 0.7265 high (formed on FXOpen).

AUD/USD Hourly Chart
(https://i.postimg.cc/MZ5MHBWg/AUDUSD-Chart.jpg)

The pair even declined below the 0.7120 support level and the 50 hourly simple moving average. Finally, it tested the 76.4% Fib retracement level of the upward move from the 0.7030 swing low to 0.7265 high.

On the upside, the AUD/USD pair is facing resistance near the 0.7120 level. The next major resistance is near the 0.7150 level. A close above the 0.7150 level and the 50 hourly simple moving average could start a steady increase in the near term.

The next major resistance could be 0.7200. On the downside, an initial support is near the 0.7085 level. The next support could be the 0.7050 level.

If there is a downside break below the 0.7050 support, the pair could extend its decline towards the 0.7000 level. Any more downsides might send the pair toward the 0.6920 level.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-might-struggle-to-recover-losses/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 09, 2022, 08:38:34 AM
GBP/USD and EUR/GBP: British Pound Remains In Downtrend
(https://i.postimg.cc/gJV3TsVH/GBPUSD-Cable.jpg)

GBP/USD started a fresh decline from well above the 1.2650 level. EUR/GBP is rising and might attempt an upside break above the 0.8600 resistance zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound struggled to settle above the 1.2620 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.2550 support zone.

There was a clear move below the 1.2500 level and the 50 hourly simple moving average. The bears pushed the pair below the 1.2400 level and a new multi-week low was formed near 1.2278 on FXOpen.

GBP/USD Hourly Chart
(https://i.postimg.cc/nrnqbmTb/GBPUSD-Chart-1.jpg)

The pair is now consolidating losses above the 1.2280 level. On the upside, an initial resistance is near the 1.2335 level. There is also a key bearish trend line forming with resistance near 1.2335 on the hourly chart of GBP/USD.

The next main resistance is near the 1.2400 zone and the 50 hourly simple moving average. It is close to the 23.6% Fib retracement level of the key decline from the 1.2637 swing high to 1.2278 low.

The main resistance is now forming near the 1.2450 level. It is close to the 50% Fib retracement level of the key decline from the 1.2637 swing high to 1.2278 low. A clear upside break above the 1.2450 and 1.2460 resistance levels could open the doors for a steady increase in the near term.

If not, the pair might continue to move down below 1.2280. The next major support is near the 1.2220 level. Any more losses could lead the pair towards the 1.2150 support zone or even 1.2120.


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-eur-gbp-british-pound-remains-in-downtrend/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 10, 2022, 05:47:36 PM
BTCUSD and XRPUSD Technical Analysis – 10th MAY 2022
(https://i.postimg.cc/1zNPhMMb/btx.jpg)

BTCUSD: Rounding Bottom Pattern Above $29,700

Bitcoin was not able to sustain its bullish momentum last week, and after touching a high of $40,000 on May 4th, started to decline heavily against the US dollar.

The short-selling continued pushing the price of BTC below the $30,000 handle, after which we can observe some consolidation.

We can see a pullback in the market at levels above $30,000, which is expected to continue towards $35,000.

We can clearly see a rounding bottom pattern above the $29,700 handle — which is a bullish reversal pattern signifying the end of a downtrend and a shift towards an uptrend.

The Stoch and Williams percent range are indicating an overbought level which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 44 indicating a WEAK demand for bitcoin at the current market level.

Bitcoin is now moving below its 100 hourly simple and 200 hourly exponential MAs.

Some of the major technical indicators are giving a BUYsSignal, which means that in the immediate short term, we are expecting targets of $32,000 and $34,000.

The average true range is indicating LESSER market volatility with a mildly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $29,700
(https://i.postimg.cc/HkNHhF0Q/btc.png)

Bitcoin has moved out of the falling trend seen last week and now continues to consolidate its gains above the $30,000 handle in the European trading session. The bounce that we have seen above $30,000 is expected to continue this week, and we are now looking at targets of $32,000 and $35,000 in the medium-term range.

The immediate short-term outlook for bitcoin is mildly bullish; the medium-term outlook has turned neutral; the long-term outlook remains neutral under present market conditions.

We are now looking at possible reversal and short selling at 32,946 and 34,350 as indicated by the MA50 and MA100 crossover patterns. This is further validated by an overbought level seen in the Stoch and Williams percent range.

The price of BTCUSD is now facing its classic resistance level of $32,009, Fibonacci resistance level of $32,240 after which the path towards $34,000 will get cleared.

In the last 24hrs, BTCUSD has declined by -5.59% with a price change of 1872$, and has a 24hr trading volume of USD 81.634 billion. We can see an increase of 111% in the trading volume as compared to yesterday, which is due to the heavy selling seen across global cryptocurrency markets.

The Week Ahead

The price of bitcoin touched an intraday low of $29,829 in the Asian trading session, and an intraday high of $32561 in today’s European trading session.

The daily RSI is printing at 30 which means that the medium range demand continues to be weak. This is also an opportunity for long-term investors to enter into the markets at lower levels.

The current market condition is suitable for entering into a BUY position with targets of $33,000 and $35,000 next week.

The price of BTCUSD will need to remain above the important support level of $30,000 this week.

The weekly outlook is projected at $33,000 with a consolidation zone of $32,500.

Bitcoin Down by 50%

The price of bitcoin touched an all-time high of $67,566 in November, 2021, and with the current market price of $31,570 marks a drop of 50% in its value.

The ongoing global economic crisis, rise in the interest rates, the Russia-Ukraine war and its effects on the global investor sentiments are driving bitcoin to historic lows, which has led to a decline in the total market capitalization of bitcoin to $600 billion USD.

Technical Indicators

The StochRSI (14-day): at 74.78 indicating a BUY

The average directional change(14-day): at 28.58 indicating a NEUTRAL level

The rate of price change: at 1.349 indicating a BUY

The moving averages 20: indicating a BUY


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-10th-may-2022-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 11, 2022, 08:55:13 AM
EUR/USD Remains At Risk, USD/JPY Might Correct Gains
(https://i.postimg.cc/9Qj47sSF/Euro-Yen-Pound.jpg)

EUR/USD is attempting an upside correction and facing resistance near 1.0550. USD/JPY might correct lower if it trades below 130.00.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started saw bearish moves below the 1.0650 level against the US Dollar. The EUR/USD pair declined heavily below the 1.0550 support zone.

The pair even broke the 1.0500 level and settled below the 50 hourly simple moving average. A low was formed near 1.0482 on FXOpen and the pair is now correcting higher. There was a move above the 1.0550 resistance level.

EUR/USD Hourly Chart
(https://i.postimg.cc/3w8dLmYs/EURUSD-Chart-1.jpg)

However, the pair failed to gain pace above the 1.0600 level. It is now moving lower and trading below 1.0550. There was a break below the 50% Fib retracement level of the recent increase from the 1.0495 swing low to 1.0592 high.

It is now consolidating near the 61.8% Fib retracement level of the recent increase from the 1.0495 swing low to 1.0592 high. An immediate resistance on the upside is near the 1.0542 level. The next major resistance is near the 1.0560 level.

There is also a key bearish trend line forming with resistance near 1.0560 on the hourly chart of EUR/USD. The main resistance is near the 1.0600 level. An upside break above 1.0600 could set the pace for a steady increase.

If not, the pair might drop and test the 1.0500 support. The next major support is near 1.0480, below which the pair could drop to 1.0420 in the near term.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-remains-at-risk-usd-jpy-might-correct-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 11, 2022, 08:58:15 AM
Cryptocurrencies Under Pressure as Bitcoin’s Slide Continues
(https://i.postimg.cc/YSyM1yRs/btc.jpg)

Bitcoin is the most important cryptocurrency, and its price fluctuations influence the entire cryptocurrency market. When the price of bitcoin advances or declines, all other coins do the same.

In other words, the thousands of other coins literally depend on what bitcoin does.

So far this year, bitcoin has been under pressure: it opened the year around $50,000, and now threatens to drop through the $30,000 level. Only this time around, the decline in bitcoin’s price is more relevant than in the past. Nowadays, bitcoin has been adopted by market players other than retail traders.

For years, retail traders and believers in the cryptocurrency space have hoped that institutional investors would adopt bitcoin. They have, but with increased adoption came increased risks. For example, now that bitcoin is part of numerous portfolios, it acts like the general market does. As such, the dollar’s strength in 2022 is seen in the price of bitcoin too.
(https://i.postimg.cc/jjjRnrHf/23.jpg)

Head-and-Shoulders Pattern Points To $20,000

One of the most powerful reversal patterns is called “head-and-shoulders”. It is formed by two shoulders and one head, resembling the human body, and it has a measured move, calculated by measuring the distance from the highest point in the pattern to the neckline, and projecting it to the downside. This is the minimum distance that the market needs to travel in order to confirm the reversal.

In bitcoin’s case, the measured move points to a decline towards $20,000. Such a move alone is enough to put further pressure on bitcoin hodlers, but also on the financial system.

Last week, MicroStrategy, a US-based publicly listed company that had invested heavily in bitcoin, revealed that it would receive a margin call should the price of bitcoin drop to $21,000.

To buy its  bitcoins, the company borrowed money, and now it needs to serve $2.5 billion in debt with $500 million in revenues. As such, a decline in the price of bitcoin is not a risk only for retail hodlers, but also for other financial market participants.

To sum up, the price of bitcoin remains bearish while trading below the head-and-shoulders’ neckline. With every day that passes, the pressure mounts, and retail hodlers may be forced to liquidate just as big players are too.

It would also be interesting to see what other big investors, such as Tesla, would do with their bitcoin holdings when the price declines below their buying price. A move below $30,000 would put pressure on Tesla, and when and if big investors flee, it might be the end of the cryptocurrency market as we know it.

FXOpen Blog (https://www.fxopen.com/blog/en/cryptocurrencies-under-pressure-as-bitcoins-slide-continues/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 13, 2022, 04:23:41 AM
ETHUSD and LTCUSD Technical Analysis – 12th MAY, 2022
(https://i.postimg.cc/K8TRG3J9/eth.jpg)

ETHUSD: Double Top Pattern Below $2,450

Ethereum was unable to sustain its bullish momentum last week, and after touching a high of 2,960 on May 4, started to decline heavily against the US dollar.

We can see the continuation of the bearish momentum this week, and the decline continues pulling down the prices of Ethereum below the 1,900 handle in the European trading session today.

The global investor sentiment is very weak, which is the cause of the massive slide in the cryptocurrency markets, including Ethereum.

After touching an intraday low of $1,780, we can see some pullback action and a move towards the consolidation channel above the $1,800 handle.

We can clearly see a double top pattern below the $2,450 handle, which is a bearish pattern; it signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just below its pivot level of 1,908 and  moving into a consolidation channel. The price of ETHUSD is now testing its classic support level of 1,820 and Fibonacci support level of 1,884, after which the path towards 1,800 will get cleared.

The relative strength index is at 35, indicating a WEAK demand for Ethereum and the continuation of the bearish trend.

The StochRSI is indicating a neutral level which means that the prices are due to remain into a consolidation phase in the short term.

All of the technical indicators are giving a STRONG SELL market signal.

All of the moving averages are giving a STRONG SELL signal, and we are now looking at the levels of $1,850 to $1,800 in the short-term range.

ETH is now trading Below both the 100 hourly and exponential MAs.


Ether: Bearish Reversal Seen Below $2,450
(https://i.postimg.cc/FKQ17F6h/etx.png)

ETHUSD is now moving in a mildly bearish channel with the prices trading below the $2,000 handle in the European trading session today.

We can see an MA5 crossover pattern located at 1,884, which means that a potential bullish reversal is possible after touching these levels.

ETHUSD is now facing its immediate support level of $1,861 and $1,841 after which we will see a linear progression towards the level of $1,800.

The key resistance levels to watch are $1,931 and $1,976, and the prices of ETHUSD need to cross these levels for a potential bullish reversal.

ETH has declined by 19.67% with a price change of 468.56$ in the past 24hrs and has a trading volume of 54.488 Billion USD.

We can see an Increase of 53.79% in the total trading volume in the last 24 hrs. which is due to the heavy selling by long-term investors.

The Week Ahead

The global economic factors and the increase in the interest rate announced by the Fed  have made the US dollar stronger, which has led to a massive decline in the prices of Ethereum.

The delay in the implementation of the ETH 2.0 upgrade is also keeping the investors away from the markets.

The immediate short-term outlook for Ether has turned mildly BEARISH; the medium-term outlook has turned neutral; the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $1,800 and $2,000, and next week, Ether is expected to enter into a consolidation phase above the level of $2,000.

Technical Indicators:

The Stoch (9,6): at 22.35 indicating a SELL

The moving averages convergence divergence (12,26): at -104.87 indicating a SELL

The ultimate oscillator: at 40.75 indicating a SELL

The rate of price change: at -9.43 indicating a SELL


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-12th-may-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 13, 2022, 09:32:04 AM
Gold Price Faces Resistance While Oil Price Aims Higher
(https://i.postimg.cc/wMyjn5D6/Gold-price-oil-price.jpg)

Gold price started a fresh decline from the $1,920 resistance. Crude oil price is rising and might gain pace above the $107 resistance.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis
(https://i.postimg.cc/SstKZ12T/Gold-Price-Chart.jpg)

Gold price struggled to gain pace for a move above the $1,920 resistance against the US Dollar. The price started a fresh decline below the $1,900 support zone.

There was a clear move below the $1,880 level and the 50 hourly simple moving average. The price even declined below the $1,850 support to move into a bearish zone. It traded as low as $1,810 on FXOpen and now correcting losses.

Gold Price Hourly Chart

There was a move above the $1,820 resistance. The price broke the 23.6% Fib retracement level of the downward move from the $1,858 swing high to $1,810 low.

On the upside, the price is facing resistance near the $1,835 level. It is near the 50% Fib retracement level of the downward move from the $1,858 swing high to $1,810 low. Besides, there is a key bearish trend line forming with resistance near $1,840 on the hourly chart of gold.

The main resistance is now forming near the $1,840 level. A close above the $1,840 level could open the doors for a steady increase towards $1,880. The next major resistance sits near the $1,900 level.

On the downside, an initial support is near the $1,820 level. The next major support is near the $1,810 level, below which there is a risk of a larger decline and the price might even struggle to stay above $1,800.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-faces-resistance-while-oil-price-aims-higher/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 16, 2022, 09:19:49 AM
GBP/USD Remains At Risk, USD/CAD Eyes More Gains
(https://i.postimg.cc/0NyDbhYj/GBPUSD-British-Pound.jpg)

GBP/USD started a major decline below the 1.2300 support. USD/CAD is showing positive signs and gaining pace above the 1.2950 level.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After struggling to clear the 1.2400 resistance zone, the British Pound found started a fresh decline against the US Dollar. GBP/USD traded below the 1.2300 support level to move into a bearish zone.

The bears gained strength for a move below the 1.2200 level and the 50 hourly simple moving average. The pair even spiked below the 1.2180 level and traded as low as 1.2155 on FXOpen. Recently, there was an upside correction above the 1.2200 level.

GBP/USD Hourly Chart
(https://i.postimg.cc/g0tRR4sD/GBPUSD-Chart-2.jpg)

There was a break above a short-term bearish trend line with resistance near 1.2220 on the hourly chart of GBP/USD. The pair even spiked above the 50% Fib retracement level of the downward move from the 1.2399 swing high to 1.2155 low.

An immediate resistance is near the 1.2295 level. The next key resistance is near the 1.2305 level. It is near the 61.8% Fib retracement level of the downward move from the 1.2399 swing high to 1.2155 low.

If there is an upside break above the 1.2305 zone, the pair could rise towards 1.2400. The next key resistance could be 1.2450, above which the pair could gain strength.

On the downside, an initial support is near the 1.2220 area. The first major support is near the 1.2200 level. If there is a break below 1.2200, the pair could extend its decline. The next key support is near the 1.2150 level. Any more losses might call for a test of the 1.2040 support.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-remains-at-risk-usd-cad-eyes-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 16, 2022, 10:44:51 PM
Investors Keep Selling the JPY Despite Falling to the Lowest Since 2002 vs. the US Dollar

(https://i.postimg.cc/FKZxCFnG/yen.jpg)

One of the big stories in the FX market in 2022 is the spectacular drop of the Japanese yen (JPY). Since March, it has depreciated against all its peers to reach the weakest levels vs. the US dollar since 2002.

Interestingly enough, the selloff comes when investors had all the reasons to buy the Japanese currency – not to sell it. Historically, the JPY acted as a safe-haven currency.

Effectively, it means that traders bought the JPY and sold US equities in times of uncertainty. Well, one did happen – US stocks are down by about -20% or more, depending on the sector. But the JPY did the opposite.

(https://i.postimg.cc/RVS42gFR/2.jpg)

BOJ’s Measures Put Pressure on the Yen

The trigger of the yen’s weakness was the Bank of Japan’s policy. It continues to suppress bond yields, making JGBs or Japanese Government Bonds less attractive – and the yen too.

This is a central bank that diverges from other major central banks in the sense that it keeps easing conditions while others have started to tighten. The Federal Reserve of the United States is the perfect example, doing exactly the opposite of what the Bank of Japan is doing. Hence, the yen reached the weakest level in more than two decades against the US dollar.

But before blaming it all on the Bank of Japan, one thing should ring a bell for FX traders. If it was only the JPY declining the way it did, then the Bank of Japan was the sole reason for it.

Except it wasn’t.

The other safe-haven currency, the Swiss franc, dropped even more against the US dollar. The USD/CHF exchange rate rose above parity for the first time in many years as investors ran from the so-called safe-haven currencies and bought the US dollar – the world’s reserve currency.

So, what comes next?

Because of the Swiss franc is dropping in a similar or even more aggressive fashion, it means that the price action in the FX market is driven by the US dollar and the Fed and not by the Bank of Japan and the yen. Hence, look for the trend to continue as the move may have just started.

FXOpen Blog (https://www.fxopen.com/blog/en/investors-keep-selling-the-jpy-despite-falling-to-the-lowest-since-2002-vs-the-us-dollar/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 17, 2022, 05:50:20 PM
BTCUSD and XRPUSD Technical Analysis – 17th MAY 2022
(https://i.postimg.cc/JzDfFfGs/btc.jpg)

BTCUSD: Bullish Harami Pattern Above $28,600

Bitcoin was not able to sustain its bullish momentum last week, and after touching a high of $31,437 on 16th May, started to decline heavily against the US dollar.

The short selling continued pushing down the price of BTC below the $30,000 handle, touching a low of $29,169 after which we can see some consolidation.

We can see a pullback in the markets at a level above $30,000, which is expected to continue towards $33,000.

We can clearly see a bullish harami pattern above the $28,600 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Both the Stoch and StochRSI are indicating an overbought level which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 57 indicating a STRONG demand for bitcoin at the current market level.

Bitcoin is now moving above its 100 hourly simple and 200 hourly simple MAs.

Most of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 32,000 and 33,500.

The average true range is indicating LESSER market volatility with a mildly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $28,600
(https://i.postimg.cc/6pkkxMvY/btcx.png)

Bitcoin continues to move into a consolidation channel above the $30,000 handle in the European trading session today.

The bounce that we have seen above the $30,000 handle is expected to continue this week, and we are now looking at the targets of $32,000 and $33,500 in the medium-term range.

The immediate short-term outlook for bitcoin is mildly bullish; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

Bitcoin continues to consolidate above its important support level of $30,000, and with increasing demand zone formation the immediate target is $31,500

The price of BTCUSD is now facing its classic resistance level of 30,533 and Fibonacci resistance level of 30,653, after which the path towards 32,000 will get cleared.

In the last 24hrs, BTCUSD has increased by 3.17% by 939$, and has a 24hr trading volume of USD 31.059 billion. We can see an increase of 1.58% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is moving in a mildly bullish momentum, and the immediate targets are $31,000 and $31,500

The daily RSI is printing at 35 which means that the medium-range demand continues to be weak.

The current market condition is suitable for entering into a BUY position with targets of $32,000 and $33,500 next week.

The price of BTCUSD will need to remain above the important support level of $30,000 this week.

The weekly outlook is projected at $32,000 with a consolidation zone of $31,500.

Technical Indicators:

The moving averages convergence divergence (12,26): at 121.40 indicating a BUY

The average directional change (14-day): at 43.83 indicating a BUY

The rate of price change: at 3.529 indicating a BUY

The ultimate oscillator: at 65.16 indicating a BUY


Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-17th-may-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 18, 2022, 10:44:21 AM
EUR/USD Recovers Ground, USD/CHF Could Extend Losses
(https://i.postimg.cc/NjRtSS0f/Euro-EURUSD.jpg)

EUR/USD started a decent increase from the 1.0350 zone. USD/CHF is sliding and might extend losses below the 0.9900 support zone.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro formed a base above the 1.0350 zone and started a decent increase against the US Dollar. The EUR/USD pair climbed above the 1.0420 resistance zone to move into a bullish zone.

There was a steady increase above the 1.0500 resistance zone and the 50 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near 1.0515 on the hourly chart of EUR/USD.

EUR/USD Hourly Chart
(https://i.postimg.cc/bv8PhgG0/EURUSD-Chart-2.jpg)

There was a clear move above the 50% Fib retracement level of the key decline from the 1.0592 swing high (formed on FXOpen) to 1.0350 low.

It is now consolidating near the 1.0550 level and the 61.8% Fib retracement level of the key decline from the 1.0592 swing high to 1.0350 low. On the upside, an initial resistance is near the 1.0550 level. The next major resistance is near the 1.0580 level.

A clear move above the 1.0580 resistance zone could set the pace for a larger increase towards 1.0650. The next major resistance is near the 1.0750 zone.

On the downside, an immediate support is near the 1.0500 level. The next major support is near the 1.0480 level. A downside break below the 1.0480 support could start another decline.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/eur-usd-recovers-ground-usd-chf-could-extend-losses/)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 19, 2022, 08:42:29 PM
ETHUSD and LTCUSD Technical Analysis – 19th MAY, 2022
(https://i.postimg.cc/5NzZhGd5/etx.jpg)

ETHUSD: Double Top Pattern Below $2,121

Ethereum was unable to sustain its bullish momentum last week, and after touching a high of 2,151 on 16th May started to decline heavily against the US dollar.

We can see the continuation of the bearish momentum this week, and the decline continues pulling down the prices of Ethereum below the 2,000 handle in the European trading session today.

With the increase in the market liquidity many of the medium-term investors are selling their stakes amid the ongoing proposed Ethereum 2.0 network upgrade.

The prices touched an intraday low of $1,902 in the Asian trading session, and an intraday high of $1,971 in the European trading session today.

We can clearly see a double-top pattern below $2,121 which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just below its pivot level of 1,954 and moving into a consolidation channel. The price of ETHUSD is now testing its classic support level of 1,917, and Fibonacci support level of 1,945 after which the path towards 1,800 will get cleared.

The relative strength index is at 43 indicating a WEAK demand for Ethereum and the continuation of the bearish trend.

The StochRSI is indicating an overbought level which means that the price is due to decline further in the short term.

Most of the technical indicators are giving a STRONG SELL market signal.

All of the moving averages are giving a STRONG SELL signal, and we are now looking at the levels of $1,900 to $1,800 in the short-term range.

ETH is now trading below its 100 hourly and exponential MAs.


Ether: Bearish Reversal Seen Below $2,121
(https://i.postimg.cc/QNw2nDPx/eth.png)

ETHUSD is now moving in a mildly bearish channel with the prices trading below the $2,000 handle in the European trading session today.

We can see an SMA10 crossover pattern located at 1,940, which means that a potential bullish reversal is possible after touching these levels.

We have detected a bearish harami crossover pattern in the M15 chart which further validates the ongoing trends in the markets.

The key resistance levels to watch are $1,966 and $1,990, and the prices of ETHUSD need to cross these levels for a potential bullish reversal.

ETH has declined by 4.41% with a price change of 89.48$ in the past 24hrs, and has a trading volume of 18.320 billion USD.

We can see an Increase of 5.27% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

The ongoing correction in the prices of Ethereum is also because of the pending ETH 2.0 network upgrade which is delayed from its original schedule. Many of the Ethereum investors are willing to wait till the new upgrade is launched before investing their funds.

The immediate short-term outlook for Ether has turned mildly BEARISH; the medium-term outlook has turned neutral; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $1,800 and $2,000, and next week, it is expected to enter into a consolidation phase above the level of $2,000.

Technical Indicators:

The Williams percent range: at -55.74 indicating a SELL

The moving averages convergence divergence (12,26): at -20.99 indicating a SELL

The ultimate oscillator: at 47.46 indicating a SELL

The rate of price change: at -1.364 indicating a SELL

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-19th-may-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 20, 2022, 11:57:02 AM
AUD/USD and NZD/USD Might Regain Bullish Momentum
(https://i.postimg.cc/s2FVvtx3/AUD-2.jpg)

AUD/USD traded higher but faced sellers near 0.7075. NZD/USD is correcting gains and approaching a key support zone near the 0.6350 level.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar formed a base above the 0.6850 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace for a move above the 0.6950 resistance zone.

There was a clear move above the 0.7000 resistance zone and the 50 hourly simple moving average. The pair traded as high as 0.7072 on FXOpen and is currently correcting gains. There was a move below the 0.7025 support zone.

AUD/USD Hourly Chart
(https://i.postimg.cc/Tw0GN19P/AUDUSD-Chart-1.jpg)

The pair is now trading near the 50% Fib retracement level of the upward move from the 0.6949 swing low to 0.7072 high. On the downside, an initial support is near the 0.7000 level.

There is also a key bullish trend line forming with support near 0.7000 on the hourly chart of AUD/USD. The trend line is near the 61.8% Fib retracement level of the upward move from the 0.6949 swing low to 0.7072 high.

The next support could be the 0.6950 level. If there is a downside break below the 0.6950 support, the pair could extend its decline towards the 0.6900 level. Any more downsides might send the pair toward the 0.6850 level.

On the upside, the AUD/USD pair is facing resistance near the 0.7040 level. The next major resistance is near the 0.7075 level. A close above the 0.7075 level could start a steady increase in the near term. The next major resistance could be 0.7150.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/aud-usd-and-nzd-usd-might-regain-bullish-momentum/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 23, 2022, 12:05:18 PM
GBP/USD and GBP/JPY Could Rise Steadily

GBP/USD started a fresh increase above the 1.2400 resistance zone. GBP/JPY is consolidating and might rise steadily above the 160.50 resistance zone.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound formed a base above the 1.2150 level against the US Dollar. The GBP/USD pair started a steady increase above the 1.2200 and 1.2320 resistance levels.

There was also a clear move above the 1.2450 resistance and the 50 hourly simple moving average. The recent price action was bullish, and the pair even climbed above the 1.236 Fib extension level of the downward move from the 1.2500 swing high to 1.2329 low (formed on FXOpen).

GBP/USD Hourly Chart
(https://www.fxopen.com/blog/en/content/images/size/w1000/2022/05/GBPUSD-Chart-3.png)

It is now consolidating above the 1.2500 level. On the upside, the pair is facing resistance near the 1.2550 level. The next major hurdle is near the 1.2600 level.

The 1.618 Fib extension level of the downward move from the 1.2500 swing high to 1.2329 low is also near the 1.2600 zone. An upside break above 1.2600 could set the pace for a move towards the 1.2720 resistance zone.

If there is no upside break above 1.2600, the pair could start a fresh decline. An immediate support is near the 1.2500. The next major support is near the 1.2450 level.

There is also a key bullish trend line forming with support near 1.2465 on the hourly chart of GBP/USD.  If there is a break below the 1.2450 support, the pair could test the 1.2320 support.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-and-gbp-jpy-could-rise-steadily/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 23, 2022, 09:04:18 PM
ECB Hints At Positive Rates, Sending EUR Higher

(https://i.postimg.cc/Y9xv8DkC/ecb.jpg)

The euro started the trading week on a higher note after the ECB President, Christine Lagarde, said that the central bank is ready to raise the rates during the summer. In a blog posted on the ECB’s website, Lagarde said that the lift-off date is drawing closer, and it is important for the markets to know the policy normalization path ahead.

Euro needed nothing more to rally. The EUR/USD, as seen below, jumped over 100 pips or more than 1% on the news. Traders now expect that the ECB will raise the key interest rate twice in July and once in September, bringing the deposit facility rate to zero.

(https://i.postimg.cc/4dGK6kD0/111.jpg)

ECB Prepares for the Ending of Negative Rates

It is a milestone for the ECB. The central bank has kept the interest rate below zero for many years, but now it fears that a weaker currency might add to inflation.

It is calculated that the euro depreciation since March 2022 alone could add another 10bp on inflation this year and 20bp in the year to come. Hence, the ECB wanted to make sure that the markets know it is not tolerating inflation much higher than its price stability definition.

As a consequence, the euro rallied across the board. It gained against all its peers, not only against the US dollar.

But the EUR/USD is the exchange rate that matters. To be able to gain against the dollar at a time when the Fed is hiking the rates aggressively is something to take into account by traders.

Euro traded as high as 1.23 against the dollar only twelve months ago. The rapid depreciation to below 1.04 worried the ECB, as it fuels higher inflation.

As such, the news that the central bank plans the normalization of its policy should not come as a surprise, despite the war in Ukraine. ECB has the mandate to deal with price stability, and the only way to do so is to raise the rates to combat inflation.

All in all, today’s news confirms that the ECB joined the hawkish camp. The big question in the months ahead would be if the summer rate hikes are all the ECB is willing to do, or some more await after September?

FXOpen Blog (https://www.fxopen.com/blog/en/ecb-hints-at-positive-rates-sending-eur-higher/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 24, 2022, 08:32:40 PM
BTCUSD and XRPUSD Technical Analysis – 24th MAY 2022
(https://i.postimg.cc/4dwpzTs0/btx.jpg)

BTCUSD: Triple-Top Pattern Below $30,775

Bitcoin was not able to sustain its bullish momentum this week, and after touching a high of 30,652 on 23rd May, started to decline heavily against the US dollar; it touched a low of 28,860 today in the Asian trading session.

The drop that we saw continues, and now the prices have entered a consolidation channel above the $29,000 handle in the European trading session.

If we see some buying at these levels, the prices will continue to remain above them in the short-term range. But in the medium-term range, we are expecting a further drop due to weak global demand cues.

We can clearly see a triple-top pattern below the $30б775 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 40 indicating a WEAK demand for bitcoin at the current market levels.

Bitcoin is now moving below its 100 and 200 hourly simple MAs.

Most of the major technical indicators are giving a SELL signal, which means that in the immediate short term, we are expecting targets of 28,000 and 27,500.

The average true range is indicating LESS market volatility with a mild bearish momentum.


Bitcoin: Bearish Reversal Seen Below $30,775

(https://i.postimg.cc/FzR3pnKH/btc.png)

Bitcoin continues to move in a consolidation channel above the $29,000 handle in the European trading session today. We can see the formation of a demand zone above it, but the global risk scenarios may enable further decline in the prices this week.

The immediate short-term outlook for bitcoin is mildly bearish; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

Bitcoin continues to consolidate above its important support level of $29,000, and with increasing demand zone formation the immediate target is $30,500.

The price of BTCUSD is now facing its classic support level of 28,819 and Fibonacci support level of 29,135, after which the path towards 28,000 will get cleared.

In the last 24hrs, BTCUSD has decreased by 3.97% with a price change of 1,210$, and has a 24hr trading volume of USD 31.034 billion. We can see an Increase of 1.58% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The prices of bitcoin are moving in a mildly bearish momentum, and the immediate targets are $28,000 and $27,500.

The daily RSI is printing at 37 which means that the medium range demand continues to be weak.

We are now expecting a range-bound movement between $28,000 and $32,000 next week.

The price of BTCUSD will need to remain above the important support level of $29,000 this week.

The weekly outlook is projected at $31,500 with a consolidation zone of $30,000.

Technical Indicators:

The moving averages convergence divergence (12,26): at -161 indicating a SELL

The average directional change (14-day): at 34.90 indicating a NEUTRAL level

The rate of price change: at -0.006 indicating a SELL

The commodity channel index (14-day): at 42.96 indicating a NEUTRAL level

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-24th-may-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 26, 2022, 07:44:37 PM
ETHUSD and LTCUSD Technical Analysis – 26th MAY, 2022
(https://i.postimg.cc/NFvDStDX/etx.jpg)

ETHUSD: Bearish Engulfing Pattern Below $2,087

Ethereum was unable to sustain its bullish momentum last week, and after touching a high of 2,084 on 23rd May started to decline heavily against the US dollar.

We can see a strong bearish momentum this week and this is putting downward pressure on the prices of Ethereum below the 1,850 handle in the European trading session today.

We can see the formation of a major bearish trend line today on the hourly chart, and the pair is poised to decline further given the weak investor sentiments.

The prices touched an intraday low of $1,817 in the Asian trading session and an intraday high of $1,970 in the European trading session today.

We can clearly see a bearish engulfing pattern below the $2,087 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just below its pivot level of 1,860 and moving into a strong bearish channel. The price of ETHUSD is now testing its classic support level of 1,686 and Fibonacci support level of 1,819 after which the path towards 1,700 will get cleared.

The relative strength index is at 21 indicating an OVERSOLD market, and the possibility of a pullback action.

The StochRSI and Williams percent range are indicating an oversold level which means that the prices are due to correct upwards in the short-term range.

ALL of the technical indicators are giving a STRONG SELL market signal.

All of the MAs are giving a STRONG SELL signal, and we are now looking at the levels of $1,700 to $1,650 in the short-term range.

ETH is now trading below both the 100 hourly and exponential MAs.


Ether: Bearish Continuation Seen Below $2,087
(https://i.postimg.cc/6qVcNPbm/eth.png)

ETHUSD is now moving into a strong bearish channel with the prices trading below the $1,850 handle in the European trading session today.

We can see that the commodity channel index is at an oversold level now, which means that a potential bullish reversal is possible anytime in the markets.

The price of Ethereum may continue to decline further against the US dollar due to the global risk scenario and the flight towards the safe haven assets like the US Dollar and GOLD.

The key resistance levels to watch are $1,941 and $2,260, and the price of ETHUSD needs to cross these levels for a potential Bullish reversal.

ETH has declined by 6.91% with a price change of 136$ in the past 24hrs, and has a trading volume of 15.808 Billion USD.

We can see an Increase of 13.21% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

Global investors are now looking to liquidate their holdings in the cryptocurrencies, which is the main reason for the continuous fall in the price of Ethereum. The ETH 2.0 planned upgrade has also not been activated, leading to concerns about the future of Ethereum and its market value.

The immediate short-term outlook for Ether has turned strongly BEARISH; the medium-term outlook has turned BEARISH; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $1,600 and $1,800, and next week, it is expected to enter into a consolidation phase above the $1,800 level.

Technical Indicators:

The Williams percent range: at -96.16 indicating an OVERSOLD level

The moving averages convergence divergence (12,26): at -25.11 indicating a SELL

The ultimate oscillator: at 33.56 indicating a SELL

The rate of price change: at -6.37 indicating a SELL

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-26th-may-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 27, 2022, 06:59:19 AM
Gold Price and Oil Price Eye More Upsides
(https://i.postimg.cc/y8WZN3pP/Gold-price-oil-price-2.jpg)

Gold price started a fresh increase from the $1,810 level. Crude oil price is rising and might gain pace above the $113.75 resistance.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a base above the $1,800 and $1,810 levels against the US Dollar. The price started a fresh increase after it broke the $1,825 resistance zone.

There was a clear move above the $1,840 level and the 50 hourly simple moving average. The price even cleared the $1,850 level and traded as high as $1,869 on FXOpen. Recently, there was a downside correction below $1,850, but the bulls protected $1,840.

Gold Price Hourly Chart
(https://i.postimg.cc/65MZwfcq/Gold-Price-Chart-1.jpg)

A low is formed near $1,840 and the price is now rising. There was a move above the 50% Fib retracement level of the downward move from the $1,869 swing high to $1,840 low.

On the upside, the price is facing resistance near the $1,858 level. It is near the 61.8% Fib retracement level of the downward move from the $1,869 swing high to $1,840 low. The main resistance is now forming near the $1,870 level.

A close above the $1,870 level could open the doors for a steady increase towards $1,880. The next major resistance sits near the $1,900 level.

On the downside, an initial support is near the $1,850 level. The next major support is near the $1,845 level. There is also a key bullish trend line forming with support near $1,845 on the hourly chart of gold, below which there is a risk of a larger decline.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gold-price-and-oil-price-eye-more-upsides/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 30, 2022, 02:09:36 PM
GBP/USD Gains Pace While EUR/GBP Faces Key Hurdle
(https://i.postimg.cc/5ymW6N1Y/GBPUSD-Sterling-1-1.jpg)

GBP/USD started a decent increase above the 1.2550 resistance. EUR/GBP is struggling to clear the 0.8500 and 0.8520 resistance levels.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound remained well bid above the 1.2400 zone against the US Dollar. The GBP/USD pair started a decent increase after it broke the 1.2500 resistance.

There was a clear move above the 1.2550 level and the 50 hourly simple moving average. The bulls were even able to clear the 1.2600 resistance. Recently, there was a break above a key contracting triangle with resistance near 1.2640 on the hourly chart of GBP/USD.

GBP/USD Hourly Chart
(https://i.postimg.cc/Y07wrmcB/GBPUSD-Chart-4.jpg)

The pair traded as high as 1.2663 and is currently consolidating above the 50% Fib retracement level of the recent decline from the 1.2663 swing high to 1.2585 low.

On the upside, an initial resistance is near the 1.2650 level. It is near the 76.4% Fib retracement level of the recent decline from the 1.2663 swing high to 1.2585 low. The next main resistance is near the 1.2665 zone.

A clear upside break above the 1.2665 and 1.2680 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2750 level.

If not, the pair might start a downside correction below 1.2620. The next major support is near the 1.2600 level. Any more losses could lead the pair towards the 1.2550 support zone or even 1.2520.

Read Full on FXOpen Company Blog... (https://www.fxopen.com/blog/en/gbp-usd-gains-pace-while-eur-gbp-faces-key-hurdle/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 01, 2022, 01:58:17 AM
BTCUSD and XRPUSD Technical Analysis – 31st MAY 2022
(https://i.postimg.cc/yNw1HZ0m/btx.jpg)

BTCUSD: Bullish Pennant Pattern Above $28,000

Bitcoin was not able to sustain its bearish momentum this week, and after touching a low of 28,009 on 26th May, started to move upwards due to the formation of demand zones above these levels.

Bitcoin entered into a consolidation channel above the $28,000 handle and then corrected upwards touching a high of 32,192 in the European trading session today.

The global investor sentiment has improved from last week, leading to fresh buying by the long-term investors and now we are looking at levels of $32,500 and $35,000.

We can clearly see a bullish pennant pattern above the $28,000 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Both the STOCH and Williams percent range are indicating an overbought level which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 68 indicating a STRONG demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly simple and 200 hourly simple MAs.

ALL of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 32,000 and 33,500.

The average true range is indicating LESS market volatility with a strongly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $28,000
(https://i.postimg.cc/DZL2ywct/btc.png)

Bitcoin continues to move into a consolidation channel above the $31,500 handle in the European trading session today.

We can see the formation of a rising trend channel above the $28,000 handle, and now we are looking at the projected levels of $33,000 and $35,000.

The immediate short-term outlook for bitcoin is strongly bullish; the medium-term outlook has turned bullish; and the long-term outlook remains neutral under present market conditions.

Bitcoin continues to consolidate above its important support level of $31,000 and with increasing demand zone formation the immediate target is $32,500

The price of BTCUSD is now facing its classic resistance level of 31,614 and Fibonacci resistance level of 31,653, after which the path towards 32,000 will get cleared.

In the last 24hrs, BTCUSD has increased by 3.05% with a price change of $937, and has a 24hr trading volume of USD 37.468 billion. We can see an Increase of 39.80% in the trading volume as compared to yesterday, which is due to the fresh buying seen at lower levels.

The Week Ahead

The price of bitcoin is moving in a strongly bullish momentum, and the immediate targets are $32,000 and $33,500.

The daily RSI is printing at 50 which means that the medium range demand continues to be NEUTRAL.

We are now looking at a fresh rally into the markets with targets of $33,500 and $35,000 next week.

The prices of BTCUSD will need to remain above the important support levels of $31,000 this week.

The weekly outlook is projected at $33,500 with a consolidation zone of $32,000.

Technical Indicators:

The moving averages convergence divergence (12,26): at 390 indicating a BUY

The average directional change (14 days): at 45.56 indicating a BUY

The rate of price change: at 3.12 indicating a BUY

The commodity channel index (14 days): at 45.18 indicating a NEUTRAL level

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-31st-may-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 01, 2022, 07:41:15 AM
EUR/USD Could Dip While USD/JPY Aims More Gains
(https://i.postimg.cc/zBc928z2/Euro-EURUSD-1.jpg)

EUR/USD struggled near 1.0785 and corrected lower. USD/JPY is rising and might continue to gain pace towards the 130.20 resistance

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started a decent recovery wave above the 1.0680 level against the US Dollar. The EUR/USD pair cleared the 1.0720 and 1.0740 resistance levels.

However, the pair faced sellers near the 1.0785 level. A high was formed near 1.0786 on FXOpen and EUR/USD started a downside correction. There was a move below the 1.0740 support and the 50 hourly simple moving average.

EUR/USD Hourly Chart
(https://i.postimg.cc/PJv0B9NX/EURUSD-Chart.jpg)

A low was formed near 1.0679 and the pair is now correcting higher. There was a move above the 1.0700 resistance level. It even spiked above the 50% Fib retracement level of the downward move from the 1.0786 swing high to 1.0679 low.

However, the pair failed to gain pace above the 1.0740 level. It failed near the 61.8% Fib retracement level of the downward move from the 1.0786 swing high to 1.0679 low.

There is also a key bearish trend line forming with resistance near 1.0725 on the hourly chart of EUR/USD. It is now moving lower and trading below 1.0710. An immediate resistance on the upside is near the 1.0725 level.

The next major resistance is near the 1.0740 level. The main resistance is near the 1.0785 level. An upside break above 1.0785 could set the pace for a steady increase.

If not, the pair might drop and test the 1.0675 support. The next major support is near 1.0650, below which the pair could drop to 1.0580 in the near term.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/eur-usd-could-dip-while-usd-jpy-aims-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 02, 2022, 05:26:28 PM
ETHUSD AND LTCUSD Technical Analysis – 02nd JUNE, 2022
(https://i.postimg.cc/4yFXDtNg/etx.jpg)

ETHUSD: Bearish Engulfing Pattern Below $2015

Ethereum was unable to sustain its bullish momentum last week and after touching a high of 2011 on 31st May started to decline heavily against the US Dollar.

We can see a strong bearish momentum this week and this is putting downwards pressure on the prices of Ethereum below the 1850 handle in the European Trading session today.

We can see the formation of a Major bearish trend line today on the hourly chart and the pair is poised to decline further given the weak investor sentiments.

The prices touched an Intraday Low of $1794 in the Asian trading session and an Intraday High of $1843 in the European Trading session today.

We can clearly see a Bearish Engulfing Pattern Below the $2015 handle which is a Bearish pattern and signifies the end of a Bullish phase and the start of a Bearish phase in the markets.

ETH is now trading just above its Pivot levels of 1817 and is moving into a Strong bearish channel. The price of ETHUSD is now testing its Classic support levels of 1767 and Fibonacci support levels of 1805 after which the path towards 1700 will get cleared.

Relative Strength Index is at 40 indicating a WEAK market and the continuation of the decline after the consolidation phase gets over.

The STOCHRSI is indicating Oversold levels which means that the prices are due to correct upwards in the short-term range.

ALL of the of the Technical indicators are giving a STRONG SELL market Signal.

All of the Moving Averages are giving a STRONG SELL Signal and we are now looking at the levels of $1700 to $1600 in the short-term range.

ETH is now trading Below its both the 100 Hourly and Exponential Moving Averages.


Ether Bearish Continuation Seen Below $2015
(https://i.postimg.cc/dQWQZMRx/eth.png)

ETHUSD is now moving into a Strong Bearish channel with the prices trading below the $1850 handle in the European Trading session today.

We can see the formation of a Major Bearish trend line in the hourly chart which suggests that further decline in the prices of Ethereum are expected.

The prices of Ethereum are moving into a consolidation channel now and after the consolidation phase is over a further decline in its levels is expected.

The key resistance levels to watch are $1919 and $2046 and the prices of ETHUSD need to cross these levels for a potential Bullish reversal.

ETH has declined by 5.80% with a price change of 112$ in the past 24hrs and has a trading volume of 21.678 Billion USD.

We can see an Increase of 22.75% in the total trading volume in last 24 hrs. which is due to the continuation of the selling pressure across the global markets.

The Week Ahead

The global investor sentiments are weak and they are not willing to enter into the markets now, which is the main reason for the continuous fall in the prices of the Ethereum.

The delay in the implementation of the ETH 2.0 upgrade continues to affect the prices of Ethereum in the short-term range.

The immediate short-term outlook for the Ether has turned as Strongly BEARISH, the medium-term outlook has turned BEARISH, and the long-term outlook for Ether is NEUTRAL in present market conditions.

In this week Ether is expected to move in a range between the $1600 and $1800 and in the next week Ether is expected to enter into a Consolidation phase above the $1800 levels.

Technical Indicators:

Williams Percent Range: It is at -78.90 indicating a SELL.

Moving Averages Convergence Divergence (12,26): It is at -16.00 indicating a SELL.

Ultimate Oscillator: It is at 40.51 indicating a SELL.

Rate of Price Change: It is at -4.16 indicating a SELL.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-02nd-june-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 03, 2022, 07:12:44 AM
AUD/USD and NZD/USD Remain Supported for More Gains
(https://i.postimg.cc/0Nrv8yjf/AUD-2.jpg)

AUD/USD extended increase above the 0.7200 resistance. NZD/USD is also showing a lot of positive signs above the 0.6500 level.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar formed a base above the 0.7150 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace for a move above the 0.7185 resistance zone.

There was a break above a short-term contracting triangle with resistance near 0.7162 on the hourly chart of AUD/USD. The pair even settled above the 0.7240 level and the 50 hourly simple moving average.

AUD/USD Hourly Chart
(https://i.postimg.cc/6QSXTxGN/AUDUSD-Chart.jpg)

It traded as high as 0.7282 on FXOpen and is currently correcting gains. There was a move below the 0.7270 support zone.

However, the pair is still above the 23.6% Fib retracement level of the upward move from the 0.7140 swing low to 0.7282 high. On the downside, an initial support is near the 0.7250 level.

The next support could be the 0.7230 level. The main support is near the 0.7210 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the 0.7140 swing low to 0.7282 high.

If there is a downside break below the 0.7210 support, the pair could extend its decline towards the 0.7150 level. Any more downsides might send the pair toward the 0.7080 level.

On the upside, the AUD/USD pair is facing resistance near the 0.7280 level. The next major resistance is near the 0.7320 level. A close above the 0.7320 level could start a steady increase in the near term. The next major resistance could be 0.7450.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/aud-usd-and-nzd-usd-remain-supported-for-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 06, 2022, 01:07:00 PM
GBP/USD and USD/CAD At Risk of More Losses
(https://i.postimg.cc/c1Fd2Dkt/GBPUSD-Sterling-1.jpg)

GBP/USD started a fresh decline below the 1.2560 support. USD/CAD is also moving lower and might extend losses below the 1.2550 support.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After struggling to clear the 1.2655 resistance zone, the British Pound found started a fresh decline against the US Dollar. GBP/USD traded below the 1.2550 support level to move into a bearish zone.

The bears gained strength for a move below the 1.2500 level and the 50 hourly simple moving average. The pair even spiked below the 1.2480 level and traded as low as 1.2477 on FXOpen. The pair is now consolidating losses above the 1.2480 level.

GBP/USD Hourly Chart
(https://i.postimg.cc/VvZ1t60W/GBPUSD-Chart.jpg)

An immediate resistance is near the 1.2505 level. It is near the 23.6% Fib retracement level of the downward move from the 1.2589 swing high to 1.2477 low.

The next key resistance is near the 1.2535 level. It is near the 50% Fib retracement level of the downward move from the 1.2589 swing high to 1.2477 low. There is also a major bearish trend line forming with resistance near 1.2540 on the hourly chart of GBP/USD.

If there is an upside break above the 1.2540 zone, the pair could rise towards 1.2600. The next key resistance could be 1.2655, above which the pair could gain strength.

On the downside, an initial support is near the 1.2475 area. The first major support is near the 1.2450 level. If there is a break below 1.2450, the pair could extend its decline. The next key support is near the 1.2400 level. Any more losses might call for a test of the 1.2320 support.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/gbp-usd-and-usd-cad-at-risk-of-more-losses-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 08, 2022, 04:03:28 AM
BTCUSD and XRPUSD Technical Analysis – 07th JUNE 2022
(https://i.postimg.cc/pXVx16mQ/btx.jpg)

BTCUSD: Bearish Doji Star Pattern Below $31,750

Bitcoin was not able to sustain its bullish momentum this week and after touching a high of 31,730 on 06th June, started to decline against the US dollar.

Bitcoin entered into a bearish trend channel below the $31,750 handle and continues to decline touching a low of 29,217 in the European trading session today.

We can see a weak demand for bitcoin in the medium-term range, and the prices are expected to fall further towards the $25,000 level.

We can clearly see a bearish doji star pattern below the $31,750 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Both the Stoch and Williams percent range are indicating an overbought level which means that in the immediate short term a decline in the prices is expected.

The relative strength index is at 29 indicating a WEAK demand for Bitcoin at the current market levels.

Bitcoin is now moving below its 100 hourly and 200 hourly simple MAs.

All of the major technical Indicators are giving a STRONG SELL signal, which means that in the immediate short term we are expecting targets of 28,000 and 27,500.

The average true range is indicating LESS market volatility with a strong bearish momentum.


Bitcoin: Bearish Reversal Seen Below $31,750
(https://i.postimg.cc/02txg0ST/btc.png)

Bitcoin continues to move into a consolidation channel above the $29,500 handle in the European trading session today.

We can see the formation of a falling trend channel below the $30,000 handle and now we are looking at the projected levels of $28,000 and $25,000.

The immediate short-term outlook for bitcoin is strongly bearish; the medium-term outlook has turned bearish; and the long-term outlook remains neutral under present market conditions.

Bitcoin continues to consolidate above its important support level of $29,000 and further decline in its price is expected in the US trading session.

The price of BTCUSD is now facing its classic support level of 29,361 and Fibonacci support level of 29,571 after which the path towards 28,000 will get cleared.

In the last 24hrs, BTCUSD has declined by 5.64% with a price change of 17,71$ and has a 24hr trading volume of USD 35.441 billion. We can see an Increase of 31.14 % in the trading volume as compared to yesterday, which is due to selling by the medium-term investors.

The Week Ahead

The price of bitcoin is moving in a strongly bearish momentum, and the immediate targets are $28,000 and $27,500.

The daily RSI is printing at 44 which means that the medium-range demand continues to be NEUTRAL.

The price of bitcoin is moving in an uncertain range-bound movement between the $28,000 and $32,000 over the past few weeks. We will have to wait till a clear trend is visible in the medium-term range.

The prices of BTCUSD will need to remain above the important support level of $29,000 this week.

The weekly outlook is projected at $29,500 with a consolidation zone of $28,000.

Technical Indicators:

Moving averages convergence divergence (12,26): at -344 indicating a SELL

The ultimate oscillator: at 44.88 indicating a SELL

The rate of price change: at -5.92 indicating a SELL

The commodity channel index (14 days): at -52.34 indicating a SELL

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-07th-june-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 08, 2022, 07:19:01 AM
EUR/USD Might Drop, USD/CHF Gains Bullish Momentum
(https://i.postimg.cc/7hKDwYSq/Euro-EURUSD.jpg)

EUR/USD is slowly moving lower below 1.0750. USD/CHF is rising and might accelerate further higher above 0.9720 resistance zone.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

The Euro gained pace above the 1.0700 resistance zone against the US Dollar. The EUR/USD pair climbed above the 1.0720 resistance zone to move into a bullish zone.

The pair attempted a clear move above the 1.0750 resistance, but the bears remained active. The recent high was formed near 1.0751 before the pair started a fresh decline. The price declined below the 1.0700 level and traded as low as 1.0651 on FXOpen.

EUR/USD Hourly Chart
(https://i.postimg.cc/SQdmWV3H/EURUSD-Chart-1.jpg)

There was a recovery wave above the 1.0680 level. It cleared the 50% Fib retracement level of the recent decline from the 1.0751 swing high to 1.0651 low.

However, the pair faced sellers near the 1.0710 level and the 50 hourly simple moving average. Besides, there is a major bearish trend line forming with resistance near 1.0720 on the hourly chart of EUR/USD. The 61.8% Fib retracement level of the recent decline from the 1.0751 swing high to 1.0651 low is also acting as a resistance.

The next major resistance is near the 1.0750 level. A clear move above the 1.0750 resistance zone could set the pace for a larger increase towards 1.0850. The next major resistance is near the 1.0920 zone.

On the downside, an immediate support is near the 1.0650 level. The next major support is near the 1.0620 level. A downside break below the 1.0620 support could start another decline.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/eur-usd-might-drop-usd-chf-gains-bullish-momentum/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 09, 2022, 03:35:30 PM
ETHUSD and LTCUSD Technical Analysis – 09th JUNE, 2022
(https://i.postimg.cc/0y6vcLDN/eth.jpg)

ETHUSD: Double Bottom Pattern Above $1,725

Ethereum was unable to sustain its bearish momentum this week and after touching a low of 1,725 on 07th June started to correct upwards against the US dollar.

We can see a strong pullback action in the markets which is keeping the prices of Ethereum above the $1,800 handle in the European trading session today.

We can see the formation of a bullish ascending channel above the $1,800 handle, and now we are looking at $1,900 and $2,050 as the immediate targets.

The prices touched an intraday low of $1,777 in the Asian trading session, and an intraday high of $1,821 in the European trading session today.

We can clearly see a double bottom pattern above the $1,725 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1,814 and moving in a strongly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1,820 and Fibonacci resistance level of 1,825, after which the path towards 1,900 will get cleared.

The relative strength index is at 58 indicating a strong market and the continuation of the uptrend this week.

The StochRSI and Williams percent range are indicating an oversold level which means that the price is due to correct upwards in the short-term range.

All of the technical indicators are giving a strong buy market signal. All of the moving averages are giving a strong buy signal, and we are now looking at the levels of $1,900 to $2,000 in the short-term range.

ETH is now trading above the 100 hourly and exponential MAs.


Ether: Bullish Reversal Seen Above $1,725
(https://i.postimg.cc/9QvhSJYY/etx.png)

ETHUSD is moving in a strongly bullish channel with the prices trading above the $1,800 handle in the European trading session today.

We can see the formation of a bullish harami cross pattern in the 15-minute time frame indicating the potential bullish nature of the present markets.

The prices of Ethereum may continue to move upwards against the US dollar, as the medium-term investors are coming back into the markets.

The key resistance levels to watch are $1,907 and $2,077, and the price of ETHUSD needs to cross these levels for the continuation of the bullish reversal.

ETH has declined by 0.90% with a price change of 16$ in the past 24hrs and has a trading volume of 13.881 billion USD.

We can see a decrease of 37.41% in the total trading volume in the last 24 hrs which is due to the uncertain nature of the global markets.

The Week Ahead

The global investor sentiments have improved leading to a pullback action in the markets, and now we are looking at $1,900 and $2,050 as the immediate targets.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is neutral in present market conditions.

This week, Ether is expected to move in a range between $1,800 and $2,000, and next week, it is expected to enter into a consolidation phase above $2,000.

Technical Indicators:

STOCH (9,6): at 65.83 indicating a BUY

The moving averages convergence divergence (12,26): at 3.66 indicating a BUY

The ultimate oscillator: at 68.27 indicating a BUY

The rate of price change: at 1.82 indicating a BUY

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-09th-june-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 10, 2022, 07:31:42 AM
Gold Price Remains At Risk and Oil Price Aims More Gains
(https://i.postimg.cc/SKybHfZX/Gold-price-oil-price-1.jpg)

Gold price is struggling to clear the $1,855 resistance zone. Crude oil price is rising and might continue to gain pace above the $120.00 resistance.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a base above the $1,830 and $1,835 levels against the US Dollar. The price started a fresh increase after it broke the $1,840 resistance zone.

There was a clear move above the $1,850 level and the 50 hourly simple moving average. The price even cleared the $1,855 level and traded as high as $1,859 on FXOpen. Recently, there was a downside correction below $1,855.

Gold Price Hourly Chart
(https://i.postimg.cc/130ZWjKh/Gold-Price-Chart.jpg)

The price declined below the 50% Fib retracement level of the upward move from the $1,837 swing low to $1,859 high. There was also a break below a key bullish trend line with support near $1,850 on the hourly chart of gold.

The price also tested the 76.4% Fib retracement level of the upward move from the $1,837 swing low to $1,859 high. On the downside, an initial support is near the $1,840 level.

The next major support is near the $1,835 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,810 support zone. On the upside, the price is facing resistance near the $1,850 level.

The main resistance is now forming near the $1,860 level. A close above the $1,860 level could open the doors for a steady increase towards $1,875. The next major resistance sits near the $1,888 level.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/gold-price-remains-at-risk-and-oil-price-aims-more-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 13, 2022, 09:02:55 AM
GBP/USD and GBP/JPY Reverse Gains, Bulls Struggle
(https://i.postimg.cc/Bvg8bWr5/GBPUSD-Cable.jpg)

GBP/USD started a fresh decline from the 1.2600 resistance zone. GBP/JPY is declining and remains at a risk of more losses below 165.00.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound attempted an upside break above the 1.2600 resistance against the US Dollar. The GBP/USD pair failed to gain bullish momentum and started a fresh decline from the 1.2580 zone.

There was a sharp decline below the 1.2500 support and the 50 hourly simple moving average. Besides, there was a break below a declining channel with support near 1.2465 on the hourly chart of GBP/USD. The bears gained strength and the price declined below the 1.2350 support zone.

GBP/USD Hourly Chart
(https://i.postimg.cc/3RxkDShs/GBPUSD-Chart-1.jpg)

A low is formed near 1.2262 on FXOpen and the pair is now consolidating losses. On the upside, the pair is facing resistance near the 1.2300 level. The next major hurdle is near the 1.2320 level. It is close to the 23.6% Fib retracement level of the downward move from the 1.2517 swing high to 1.2262 low.

An upside break above 1.2320 could set the pace for a move towards the 1.2400 resistance zone. It is near the 50% Fib retracement level of the downward move from the 1.2517 swing high to 1.2262 low.

If there is no upside break above 1.2320, the pair could start a fresh decline. An immediate support is near the 1.2260. The next major support is near the 1.2220 level. If there is a break below the 1.2220 support, the pair could test the 1.2150 support.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/gbp-usd-and-gbp-jpy-reverse-gains-bulls-struggle/)


Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 14, 2022, 04:46:21 PM
BTCUSD and XRPUSD Technical Analysis – 14th JUNE 2022
(https://i.postimg.cc/CKKj0vnr/btc.jpg)

BTCUSD – Bearish Harami Pattern Below $28300

Bitcoin continues its bearish momentum from last week and plunged below the $21000 handle touching a low of 20850 in the European Trading session today.

The global investor sentiments are weak and the continuation of the selling pressure across the global cryptocurrency exchanges is causing the massive slide in Bitcoin.

Bitcoin entered into a Major Bearish trend channel below the $28300 handle and continued to decline below the $21000 handle today, the lowest level seen in 2 years.

We can see a very weak demand for the Bitcoin in the medium-term range and the prices are expected to fall further towards the $20000 levels.

We can clearly see a Bearish Harami Pattern Below the $28300 handle which is a Bearish reversal pattern because it signifies the end of an Uptrend and a shift towards a Downtrend.

Both the STOCH and Williams Percent Range are indicating Overbought levels which means that in the immediate short term a decline in the prices is expected.

Relative Strength Index is at 40 indicating a WEAK demand for the Bitcoin at the current market levels.

Bitcoin is now moving Below its 100 hourly Simple Moving average and its 200 hourly Simple Moving averages.

All of the Major Technical Indicators are giving a SELL Signal, which means that in the immediate short term we are expecting targets of 21000 and 20500.

Average True Range is indicating LESS Market Volatility with a Strong Bearish Momentum.


Bitcoin Bearish Continuation Seen Below $28300
(https://i.postimg.cc/7LQSZggH/btx.png)

The prices of Bitcoin nosedived below the $21000 handle today, after which we can see a move towards the consolidation channel above the $22000 handle in the European Trading session today.

We can see the formation of a Falling Trend channel below the $27900 handle and now we are looking at the projected levels of $21000 and $20000.

The immediate short-term outlook for Bitcoin is Strong Bearish, Medium-term outlook has turned as Bearish, and the long-term outlook remains Neutral under present market conditions.

Bitcoin continues to consolidate above its important support levels of $22000 and further decline in its prices is expected in the US Trading session.

The price of BTCUSD is now facing its Classic support levels of 21775 and Fibonacci support levels of 22293 after which the path towards 21000 will get cleared.

In the last 24hrs BTCUSD has declined by 7.49% by 1808$ and has a 24hr trading volume of USD 67.482 Billion. We can see an Increase of 18.28% in the Trading volume as compared to yesterday, which is due to the selling by the medium-term investors.

The Week Ahead

The prices of Bitcoin are moving in a Strong Bearish momentum and the immediate targets are $21000 and $20500

The Daily RSI is printing at 23 which means that the medium range demand continues to be WEAK.

We can see that the prices of Bitcoin have stabilized above the $22000 handle and now we are looking at the important support levels of $21000 and $21775.

The prices of BTCUSD will need to remain above the important support levels of $21000 this week.

Weekly outlook is projected at $21500 with a consolidation zone of $20500.

Technical Indicators:

Moving Averages Convergence Divergence (12,26): It is at -694 indicating a SELL.

Ultimate Oscillator: It is at 44.05 indicating a SELL.

Rate of Price Change: It is at -4.05 indicating a SELL.

Commodity Channel Index(14days): It is at -10.55 indicating a NEUTRAL level.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 15, 2022, 10:38:08 AM
EUR/USD and EUR/JPY Eye Steady Recovery
(https://i.postimg.cc/vmH3m5SD/Euro-EUR.jpg)

EUR/USD started a fresh decline and traded below 1.0500. EUR/JPY is recovering higher and might correct above the 141.20 resistance zone.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro failed to clear the 1.0780 resistance against the US Dollar. The EUR/USD pair started a major decline below the 1.0650 and 1.0600 support levels.

There was a clear move below the 1.0550 level and the 50 hourly simple moving average. The pair even settled below the 1.0500 level. A low was formed near 1.0397 on FXOpen and the pair is now consolidating losses.

EUR/USD Hourly Chart
(https://i.postimg.cc/xCX5vnQ2/EURUSD-Chart-2.jpg)

On the upside, the pair is facing resistance near the 1.0445 level. There is also a key bearish trend line forming with resistance near 1.0445 on the hourly chart.

The next major resistance is near the 1.0485 level. It is near the 23.6% Fib retracement level of the downward move from the 1.0773 swing high to 1.0397 low. A clear break above the 1.0485 resistance could push EUR/USD towards 1.0540.

If the bulls remain in action, the pair could revisit the 1.0585 resistance zone in the near term. The 50% Fib retracement level of the downward move from the 1.0773 swing high to 1.0397 low is near the 1.0585 level.

On the downside, the pair might find support near the 1.0420 level. The next major support sits near the 1.0400 level. If there is a downside break below the 1.0400 support, the pair might accelerate lower in the coming sessions.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 16, 2022, 07:20:15 PM
ETHUSD and LTCUSD Technical Analysis – 16th JUNE, 2022
(https://i.postimg.cc/TPqLKxNJ/eth-ltc-16-june-22.jpg)

ETHUSD – Bearish Doji Star Pattern Below $1834

Ethereum was unable to sustain its bullish momentum and after touching a high of 1834 on 16th June started to decline heavily against the US Dollar.

We can see a continued selloff in the markets which is keeping the prices of Ethereum below the $1200 handle in the European Trading session today.

We can see the formation of a Bearish Descending channel below the $1800 handle and now we are looking at $1100 and $1050 as the immediate targets.

The prices touched an Intraday Low of $1144 in the European Trading session and an Intraday High of $1254 in the Asian Trading session today.

We can clearly see a Bearish Doji Star Pattern Below the $1834 handle which is a Bearish pattern and signifies the end of a Bullish phase and the start of a Bearish phase in the markets.

ETH is now trading below its Pivot levels of 1168 and is moving into a Strong Bearish channel. The price of ETHUSD is now testing its Classic support levels of 1126 and Fibonacci support levels of 1158 after which the path towards 1100 will get cleared.

Relative Strength Index is at 50 indicating a NEUTRAL market and the shift towards the consolidation phase in the markets.

The STOCHRSI is indicating Oversold levels, which means that the prices are due to correct upwards in the short-term range.

ALL of the of the Technical indicators are giving a STRONG SELL market Signal.

Some of the Moving Averages are giving a SELL Signal and we are now looking at the levels of $1100 to $1050 in the short-term range.

ETH is now trading Below its both the 100 Hourly Simple and Exponential Moving Averages.


Ether Bearish Reversal Seen Below $1834
(https://i.postimg.cc/Y9dvx3H4/ETHUSDH1.jpg)

ETHUSD is now moving into a Strong Bearish Channel with the prices trading below the $1200 handle in the European Trading session today.

We can see the formation of a Bullish crossover pattern of Adaptive Moving Average AMA 100 in the 30 minutes timeframe indicating the potential Bullish reversal.

After the recent decline in the prices of Ethereum some of the analysts have predicted that the bottom levels are reached and now the prices are due to correct upwards in the medium to long term range.

The key resistance levels to watch are $1208 and $1275 and the prices of ETHUSD need to cross these levels for the start of the Bullish reversal.

ETH has increased by 9.56% with a price change of 98$ in the past 24hrs and has a trading volume of 30.529 Billion USD.

We can see an Increase of 13.59% in the total trading volume in last 24 hrs. which is due to the heavy selling seen across the global markets.

The Week Ahead

The global investor sentiments continue to be weak leading to the massive slide in the prices of Ethereum this week.

The crash that we have seen is also due to the heavy selling by the Hedge Funds in the wake of the US Fed Rate Hike decision.

The immediate short-term outlook for the Ether has turned as Strongly BEARISH, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.

In this week Ether is expected to move in a range between the $100 and $1200 and in the next week Ether is expected to enter into a Consolidation phase above the $1200 levels.

Technical Indicators:

Average Directional Change(14days): It is at 39.83 indicating a SELL.

Williams Percent Range: It is at -74.96 indicating a SELL.

Ultimate Oscillator: It is at 39.15 indicating a SELL.

Commodity Channel Index(14days): It is at -91.04 indicating a SELL.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-16th-june-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 17, 2022, 07:56:55 AM
AUD/USD and NZD/USD Could Eye Fresh Increase
(https://i.postimg.cc/g2vH391J/AUD-2-1.jpg)

AUD/USD started a recovery wave above the 0.7000 resistance. NZD/USD is also showing a lot of positive signs above the 0.6300 level.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar formed a base above the 0.6850 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace for a move above the 0.6950 resistance zone.

There was a break above a key bearish trend line with resistance near 0.6970 on the hourly chart of AUD/USD. The bulls pushed the pair above the 50% Fib retracement level of the downward move from the 0.7226 swing high to 0.6850 low.

AUD/USD Hourly Chart
(https://i.postimg.cc/g0mqDSPK/AUDUSD-Chart-1.jpg)

The pair even settled above the 0.7000 level and the 50 hourly simple moving average. It is now consolidating gains above the 0.7000 level. On the downside, an initial support is near the 0.7000 level.

The next support could be the 0.6980 level and the 50 hourly simple moving average. The main support is near the 0.6950 level. If there is a downside break below the 0.6950 support, the pair could extend its decline towards the 0.6850 level. Any more downsides might send the pair toward the 0.6780 level.

On the upside, the AUD/USD pair is facing resistance near the 0.7050 level. The next major resistance is near the 0.7080 level. It is near the 61.8% Fib retracement level of the downward move from the 0.7226 swing high to 0.6850 low.

A close above the 0.7080 level could start a steady increase in the near term. The next major resistance could be 0.7220.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/aud-usd-and-nzd-usd-could-eye-fresh-increase/)




Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 20, 2022, 10:05:28 AM
GBP/USD Faces Resistance While EUR/GBP Eyes More Gains
(https://i.postimg.cc/9MvZHqgc/GBPUSD-Cable-Sterling.jpg)

GBP/USD started a fresh increase above the 1.2150 resistance. EUR/GBP is showing positive signs above the 0.8550 resistance zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound remained well bid above the 1.1920 zone against the US Dollar. The GBP/USD pair started a decent increase after it broke the 1.2000 resistance.

There was a clear move above the 1.2100 level and the 50 hourly simple moving average. The bulls were even able to clear the 1.2150 resistance. However, the pair struggled near the 1.2400 resistance and started a downside correction.

GBP/USD Hourly Chart
(https://i.postimg.cc/NFmTsfZm/GBPUSD-Chart-2.jpg)

There was a break below a key bullish trend line with support near 1.2220 on the hourly chart of GBP/USD. The pair traded below the 38.2% Fib retracement level of the upward move from the 1.1933 swing low to 1.2406 high.

The pair tested the 50% Fib retracement level of the upward move from the 1.1933 swing low to 1.2406 high. It is now rising and trading above the 1.2240 level.

On the upside, an initial resistance is near the 1.2280 level. The next main resistance is near the 1.2320 zone. A clear upside break above the 1.2320 and 1.2330 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2400 level.

If not, the pair might start a fresh decline below 1.2180. The next major support is near the 1.2150 level. Any more losses could lead the pair towards the 1.2050 support zone or even 1.2020.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 21, 2022, 03:17:46 PM
BTCUSD and XRPUSD Technical Analysis – 21st JUNE 2022
(https://i.postimg.cc/pXXDBYnF/btc.jpg)

BTCUSD – Rounding Bottom Pattern Above $17600

Bitcoin was unable to sustain its bearish momentum and after touching a low of 17678 on 18th June started to correct upwards and is now trading above $21000 handle in the European Trading session.

We can see that after touching an 18-month low the prices of Bitcoin have pulled back due to the buying seen at lower levels from the long-term investors.

Bitcoin entered into a Consolidation channel above the $18000 handle and continues to rise above these levels.

The Global demands for Bitcoin have improved now and the prices are expected to cross $22000 levels.

We can clearly see a Rounding Bottom Pattern Above the $17600 handle which is a Bullish reversal pattern because it signifies the end of a Downtrend and a shift towards an Uptrend.

Both the STOCH and STOCHRSI are indicating Overbought levels which means that in the immediate short term a decline in the prices is expected.

Relative Strength Index is at 66 indicating a STRONGER demand for the Bitcoin at the current market levels.

Bitcoin is now moving Above its 100 hourly Simple Moving average and its 200 hourly Simple Moving averages.

All of the Major Technical Indicators are giving a STRONG BUY Signal, which means that in the immediate short term we are expecting targets of 22000 and 23500.

Average True Range is indicating LESS Market Volatility with a Strong Bullish Momentum.


Bitcoin Bullish Reversal Seen Above $17600
(https://i.postimg.cc/MpnVC65Z/btcx.jpg)

The prices of Bitcoin have entered into a consolidation channel above the $18000 handle and the pullback seen is expected to continue touching levels of $22000.

We can see the formation of a Rising Trend channel above the $18000 handle and now we are looking at the projected levels of $22000 and $24000.

The immediate short-term outlook for Bitcoin is Strong Bullish, Medium-term outlook has turned as Bullish, and the long-term outlook remains Neutral under present market conditions.

Bitcoin continues to consolidate above its important support levels of $21000 and further appreciation in its prices is expected in the US Trading session.

The price of BTCUSD is now facing its Classic resistance levels of 21486 and Fibonacci resistance levels of 21633 after which the path towards 22000 will get cleared.

In the last 24hrs BTCUSD has increased by 3.43% by 705$ and has a 24hr trading volume of USD 32.005 Billion. We can see a Decrease of 12.38% in the Trading volume as compared to yesterday, which is due to the buying by the long-term investors.

The Week Ahead

The prices of Bitcoin are moving in a Strong Bullish momentum and the immediate targets are $22000 and $23500

The Daily RSI is printing at 31 which means that the medium range demand continues to be WEAK.

We can see that the prices of Bitcoin have stabilized above the $21000 handle and now we are looking at the important support levels of $21237 and $21305.

The prices of BTCUSD will need to remain above the important support levels of $21000 this week.

Weekly outlook is projected at $22500 with a consolidation zone of $21000.

Technical Indicators:

Moving Averages Convergence Divergence (12,26): It is at 279 indicating a BUY.

Ultimate Oscillator: It is at 64.37 indicating a BUY.

Rate of Price Change: It is at 5.69 indicating a BUY.

Commodity Channel Index(14days): It is at 171.10 indicating a BUY.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 22, 2022, 08:58:06 AM
EUR/USD Could Rise, USD/JPY Remains In Strong Uptrend
(https://i.postimg.cc/3xv3RjsG/Euro-EUR-USD.jpg)

EUR/USD struggled near 1.0580 and corrected lower. USD/JPY is rising and might continue to gain pace towards the 138.00 resistance

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started a decent recovery wave above the 1.0500 level against the US Dollar. The EUR/USD pair cleared the 1.0520 and 1.0550 resistance levels.

However, the pair faced sellers near the 1.0580 level. A high was formed near 1.0582 on FXOpen and EUR/USD started a downside correction. There was a move below the 1.0520 support and the 50 hourly simple moving average.

EUR/USD Hourly Chart
(https://i.postimg.cc/rpT2wBC6/EURUSD-Chart-3.jpg)

The pair even spiked below the 50% Fib retracement level of the upward move from the 1.0444 swing low to 1.0582 high. However, the bulls are now protecting the 1.0500 support zone.

There is also a key bullish trend line forming with support near 1.0505 on the hourly chart of EUR/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the 1.0444 swing low to 1.0582 high.

An immediate resistance on the upside is near the 1.0530 level the 50 hourly simple moving average. The next major resistance is near the 1.0550 level. The main resistance is near the 1.0580 level. An upside break above 1.0580 could set the pace for a steady increase.

If not, the pair might drop and test the 1.0480 support. The next major support is near 1.0450, below which the pair could drop to 1.0400 in the near term.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 23, 2022, 03:15:13 PM
ETHUSD and LTCUSD Technical Analysis – 23rd JUNE, 2022
(https://i.postimg.cc/25Rvh94h/eth.jpg)

ETHUSD – Bullish Harami Pattern Above $936

Ethereum was unable to sustain its bearish momentum and after touching a low 893 on 18th June started to correct upwards against the US Dollar.

We can see that the prices have recovered from its lows and a pullback action is seen at levels below $1000.

We can see the formation of a Bullish Ascending channel below the $1000 handle and now we are looking at $1100 and $1250 as the immediate targets.

The prices touched an Intraday Low of $1046 in the Asian Trading session and an Intraday High of $1107 in the European Trading session today.

We can clearly see a Bullish Harami Pattern Above the $936 handle which is a Bullish pattern and signifies the end of a Bearish phase and the start of a Bullish phase in the markets.

ETH is now trading above its Pivot levels of 1096 and is moving into a Strong Bullish channel. The price of ETHUSD is now testing its Classic resistance levels of 1101 and Fibonacci resistance levels of 1110 after which the path towards 1200 will get cleared.

Relative Strength Index is at 52 indicating a NEUTRAL market and the shift towards the consolidation phase in the markets.

Both the STOCHRSI and Williams Percent Range are indicating Overbought levels, which means that the prices are due to correct downwards in the short-term range.

ALL of the of the Technical indicators are giving a STRONG BUY market Signal.

Most of the Moving Averages are giving a BUY Signal and we are now looking at the levels of $1100 to $1250 in the short-term range.

ETH is now trading Above its both the 100 Hourly Simple and Exponential Moving Averages.


Ether Bullish Reversal Seen Above $936
(https://i.postimg.cc/3wXGBjB6/etx.jpg)

ETHUSD is now moving into a Strong Bullish Channel with the prices trading above the $1100 handle in the European Trading session today.

The On Balance Volume is indicating that the demand from the buyers and sellers is in equilibrium, meaning that the present prices of Ether are moving into a consolidation phase.

Now we are looking at the possibility of a Rally into the markets which could push the prices of Ether above the $1500 levels soon.

The key resistance levels to watch are $1275 and $1300 and the prices of ETHUSD need to cross these levels for the continuation of the Bullish reversal.

ETH has increased by 1.50% with a price change of 16$ in the past 24hrs and has a trading volume of 14.913 Billion USD.

We can see an Increase of 3.86% in the total trading volume in last 24 hrs. which appears to be Normal.

The Week Ahead

The global investor sentiments have improved as we can see a recovery of almost 30% from a low of $893 to a high of $1189 reached yesterday.

The prices of Ethereum continue to remain above the important psychological support levels of $1000 and we can witness an upwards Rally into the markets in the next week.

The immediate short-term outlook for the Ether has turned as Strongly BULLISH, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.

In this week Ether is expected to move in a range between the $1100 and $1250 and in the next week Ether is expected to enter into a Consolidation phase above the $1250 levels.

Technical Indicators:

STOCH (9,6): It is at 76.59 indicating a BUY.

Average Directional Change(14days): It is at 23.69 indicating a BUY.

Rate of Price Change: It is at 3.61 indicating a BUY.

Commodity Channel Index(14days): It is at 129.70 indicating a BUY.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 24, 2022, 08:12:33 AM
Gold Price and Oil Price Could Extend Losses
(https://i.postimg.cc/xd2rH2BH/Gold-price-oil-price.jpg)

Gold price is struggling below the $1,850 resistance zone. Crude oil price is declining and might even trade below the $100 support zone.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price struggled to gain pace above the $1,850 resistance zone against the US Dollar. The price started a fresh decline and traded below the $1,840 pivot level.

There was a clear move below the $1,825 support zone and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near $1,825 on the hourly chart of gold.

Gold Price Hourly Chart
(https://i.postimg.cc/136hft7s/Gold-Price-Chart-1.jpg)

The price traded as low as $1,821 on FXOpen and the price is now consolidating losses. On the upside, the price is facing resistance near the $1,828 level.

The 23.6% Fib retracement level of the downward move from the $1,846 swing high to $1,821 low is also near the $1,828 zone to act as a resistance. The main resistance is now forming near the $1,830 level.

The 50% Fib retracement level of the downward move from the $1,846 swing high to $1,821 low is also near the $1,832 zone. A close above the $1,832 level could open the doors for a steady increase towards $1,850. The next major resistance sits near the $1,860 level.

On the downside, an initial support is near the $1,820 level. The next major support is near the $1,805 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,780 support zone.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 27, 2022, 07:27:28 AM
GBP/USD Eyes Upside Break While USD/CAD Is Diving
(https://i.postimg.cc/v8tcMGJj/gbpx.jpg)

GBP/USD could gain pace if it clears the 1.2320 resistance zone. USD/CAD is sliding and could extend losses below the 1.2870 level.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After a downside break, the British Pound found support near the 1.2150 zone against the US Dollar. GBP/USD remained well bid above 1.2150 and recently corrected higher.

A low was formed near 1.2169 on FXOpen and the pair climbed above the 1.2200 resistance zone. There was a clear move above the 1.2250 resistance zone and the 50 hourly simple moving average. The pair even spiked above the 1.2300, but faced sellers near 1.2320.

GBP/USD Hourly Chart
(https://i.postimg.cc/8PkszqDC/gbpusd.jpg)

A high is formed near 1.2320 and the pair is now consolidating in a range. There was a test of the 38.2% Fib retracement level of the upward move from the 1.2169 swing low to 1.2320 high.

On the downside, an initial support is near the 1.2260 area. The first major support is near the 1.2240 level. It is near the 50% Fib retracement level of the upward move from the 1.2169 swing low to 1.2320 high.

There is also a key bullish trend line forming with support near 1.2230 on the hourly chart of GBP/USD. If there is a break below 1.2230, the pair could extend its decline. The next key support is near the 1.2180 level. Any more losses might call for a test of the 1.2120 support.

An immediate resistance is near the 1.2300 level. The next key resistance is near the 1.2320 level. If there is an upside break above the 1.2320 zone, the pair could rise towards 1.2400. The next key resistance could be 1.2450, above which the pair could gain strength.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 28, 2022, 07:13:38 AM
The British Pound's weakness harks back to the dark days of the late 1960s

(https://i.postimg.cc/qRD6WZzG/gbp-27-june-22.jpg)

For a number of weeks, the British Pound has been down in the dumps, performing very weakly against its de facto peers, the Euro and the US Dollar.

As this week's trading sessions begin across Europe, the Pound sits at a stagnant 1.16 against the Euro, and an equally mediocre 1.22 against the US Dollar.

The Pound, which remains the world's strongest fiat currency, has been under the microscope of analysts and investors for a few weeks now, and its dull performance is quite interesting considering that the UK did not suffer the same level of government-enforced lockdowns as mainland Europe or parts of the United States did during 2020 and 2021, and its economic burden is devoid of fueling the enormous debt which some member states of the European Union are saddled with, as the United Kingdom is no longer a member of the European Union.

Inflation is playing a major part in the devaluation of currency across the Western world, so therefore by that logic, all majors apart from the Japanese Yen should be in the same position, however the reality is the absolute opposite. The Yen is at a historic low, and the Euro and US Dollar are doing better than the British Pound.

Some pundits have indicated this morning that political woes as well as economic hurdles in the United Kingdom have created an 'investor flight' toward the US Dollar, however there are similar political woes in Europe and the United States, and the populations of both continents each side of the Atlantic face similar cost of living crises as the one in the United Kingdom.

The 'nothing to see here' approach by the British authorities has draw comparisons with the devaluation of the British Pound in 1967, a crisis for the vast majority of citizens, which was dismissed casually by the prime minister of the time Harold Wilson, who claimed quite outrageously that the pound in people's pockets was unaffected.

One possible explanation for the continued depression of the Pound's value could be the current situation in which the workers unions are once again rearing their heads.

Britain's rail networks were blighted by strike action last week, and at a time during which there has been political uncertainty, militant strike action on a national scale harks back to the industrial disasters of the early 1970s, not long after Prime Minister Wilson dismissed the late 1960s devaluation of the pound.

This year alone, the British Pound has decreased in value by 9%, which is a considerable amount, especially when bearing in mind that the Dollar has also been hit by inflation at a 40 year high in the United States, and the US Government's stance against Russia which has led to the US Dollar losing its status as a de facto settlement currency for raw material commodities such as oil and gas which must now be settled in rubles when being purchased from Russian suppliers.

The volatility of late has even spurred an off-the-cuff remark by Bank of America which has likened the British Pound's behavior to that of an emerging market currency!

Of course, that is hyperbole, and the Euro zone is also in a precarious financial position, with a brewing Italian bond crisis and a central bank even more laggardly than our own to raise rates.

The finger-pointing in Britain is now in full swing, however, and the Bank of England's governor is about to be hauled over the coals by the authorities for apparently not doing enough to predict the levels of inflation that are now being experienced.


FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 28, 2022, 04:34:50 PM
Euro makes a steady 0.3% gain overnight as Lagarde prepares inflation speech

(https://i.postimg.cc/zGR7GppG/eurx.jpg)

The Euro is making steady progress at the moment, and has risen by 0.3% during the course of the night, starting the day just above its 50-day moving average.

That represents a strong position for the Euro, which had a value of $1.0578 against the strong US Dollar this morning.

Inflation has been a subject which has dominated not only the news channels recently, but also the everyday lives of a large proportion of the public across both the American and European continents, and this week the matter of rising inflation is on the agenda for announcements from the governments within the important economic centers within the European Union.

On Wednesday this week, Germany will announce its inflation figures, followed by France on Thursday and the Euro Zone as a whole on Friday.

Despite these imminent announcements, the Euro has held its ground very well. The US Dollar has been notably a strong currency against Western majors recently, itself gaining slightly over the Australian Dollar and the Japanese Yen during today's Asian market trading session which takes place in the during the night and early hours of the morning European time. The US Dollar rose to $0.693 against the Australian Dollar and 135.37 Yen would buy 1 US Dollar by the end of the Asian session today, which is close to the seven-year high of 144.24 Yen to the US Dollar which arose las week.

Despite the Dollar's rising value against these two non-Western majors, the Euro still made its ground against the Dollar today, which is remarkable considering the inflation-related announcements which are imminent across Europe.

Of course, the United States is battling with inflation which is at its highest in 40 years, just as is the case across most of the Western world, therefore the announcements in Europe align to some extent with the situation across the Atlantic in the United States.

Today, Christine Lagarde, President of the European Central Bank is due to speak at the European Central Bank forum in Sintra, Portugal at 8.00am GMT, with the anticipated main subject to be inflation.

Interestingly, the Swiss Franc has risen to parity with the Euro this week, largely driven by an interest rate increase by the Swiss National Bank which took place earlier this month, however elsewhere in Europe, the United Kingdom and the United States, the inflation situation is having a profound effect on the buying habits of the public and lifestyle changes have been taking place meaning less spending, and therefore a shrinking economy.

The cost of living has rocketed, meaning that per-capita earnings are less than they were last year by a considerable margin, causing concerns by millions of people as well as analysts and economists over the medium term strength of the Western economy as a whole, therefore some degree of volatility between major currencies, especially the Euro, US Dollar and British Pound has taken place which has over recent years been relatively rare.

Interest rate rises are also making their presence felt as mortgage and loan payments have been increasing across these markets, signaling a potential recession.

There is no magic wand to wave, however listening to central bank announcements, despite their current similarity in tone and content, is a poignant measure of the current state of each sovereign currency.

FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 28, 2022, 04:39:10 PM
BTCUSD and XRPUSD Technical Analysis – 28th JUNE 2022
(https://i.postimg.cc/q7VLhnZX/btcx.jpg)

BTCUSD – Bullish Engulfing Pattern Above $19700

Bitcoin continues its bullish momentum this week as the price is moving upside now trading above the $20000 handle in the European Trading session.

We can see a continued consolidation in the levels of Bitcoin after every decline and the prices are now gaining a bullish traction ahead of the US Trading session.

The long-term investors are coming back into the markets as the demands for Bitcoin are increasing due to the increase in global inflation rates.

We can clearly see a Bullish Engulfing Pattern Above the $19700 handle which is a Bullish reversal pattern because it signifies the end of a Downtrend and a shift towards an Uptrend.

Both the STOCH and STOCHRSI are indicating Overbought levels which means that in the immediate short term a decline in the prices is expected.

Relative Strength Index is at 49 indicating a NEUTRAL demand for the Bitcoin at the current market levels.

Bitcoin is now moving Below its 100 hourly Simple Moving average and its 200 hourly Simple Moving averages.

All of the Major Technical Indicators are giving a STRONG BUY Signal, which means that in the immediate short term we are expecting targets of 21500 and 23000.

Average True Range is indicating LESS Market Volatility with a Bullish Momentum.


Bitcoin Continues Bullish Momentum Above $19700
(https://i.postimg.cc/J40K9RkJ/btc.jpg)

The prices of Bitcoin have entered into a consolidation channel above the $20000 handle and the continuation of the bullish momentum above the $20500 levels.

The global sentiments have improved and now the prices are forming an Ascending Triangulation pattern and a short-term rally above $22000 is expected.

We can see a close co-relation between the movement of prices in Bitcoin and Nasdaq 100 index.

The immediate short-term outlook for Bitcoin is Bullish, Medium-term outlook has turned as Neutral, and the long-term outlook remains Neutral under present market conditions.

Bitcoin is now facing resistance below $22000 as it failed to clear it on 26th June after touching a high of $21865.

The price of BTCUSD is now facing its Classic resistance levels of 20936 and Fibonacci resistance levels of 20998 after which the path towards 22000 will get cleared.

In the last 24hrs BTCUSD has decreased by 2.35% by 502$ and has a 24hr trading volume of USD 21.622 Billion. We can see an Increase of 6.09% in the Trading volume as compared to yesterday, which appears to be Normal.

The Week Ahead

The prices of Bitcoin are moving in a Bullish momentum and the immediate targets are $21500 and $22500

The Daily RSI is printing at 34 which means that the medium range demand continues to be WEAK.

We can see that the prices of Bitcoin have stabilized above the $20000 handle and now we are looking at the important support levels of $21045 and $21599.

The prices of BTCUSD will need to remain above the important support levels of $20000 this week.

Weekly outlook is projected at $22500 with a consolidation zone of $21500.

Technical Indicators:

Average Directional Change(14days): It is at 41.40 indicating a BUY.

Ultimate Oscillator: It is at 56.99 indicating a BUY.

Rate of Price Change: It is at 0.341 indicating a BUY.

Commodity Channel Index(14days): It is at 111.24 indicating a BUY.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 29, 2022, 08:29:42 AM
EUR/USD and USD/CHF At Risk of More Losses
(https://i.postimg.cc/zDMpRmgw/eurx.jpg)

EUR/USD started another decline and traded below 1.0550. USD/CHF is consolidating and facing many hurdles near the 0.9580 zone.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

This past week, the Euro gained pace above the 1.0550 resistance zone against the US Dollar. The EUR/USD pair climbed above the 1.0580 resistance zone to move into a bullish zone.

The pair attempted a clear move above the 1.0600 resistance, but the bears remained active. The recent high was formed near 1.0615 before the pair started a fresh decline. The price declined below the 1.0550 level.

EUR/USD Hourly Chart
(https://i.postimg.cc/x8kRF5Wb/eurusd.jpg)

There was a break below a major bullish trend line with support near 1.0550 on the hourly chart of EUR/USD. The pair traded as low as 1.0503 on FXOpen and settled below the 50 hourly simple moving average.

It is now consolidating near 23.6% Fib retracement level of the recent decline from the 1.0615 swing high to 1.0503 low. An immediate resistance is near the 1.0540 level.

The next major resistance is near the 1.0560 level. It is close to the 50% Fib retracement level of the recent decline from the 1.0615 swing high to 1.0503 low. A clear move above the 1.0560 resistance zone could set the pace for a larger increase towards 1.0600. The next major resistance is near the 1.0650 zone.

On the downside, an immediate support is near the 1.0520 level. The next major support is near the 1.0500 level. A downside break below the 1.0500 support could start another decline.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 29, 2022, 04:40:55 PM
Turkish Lira has week of volatility as government takes drastic action
(https://i.postimg.cc/506Q0pdt/lira.jpg)

The Turkish Lira has been a currency that has held the international limelight for a few months now, largely due to the massive volatility that it has been experiencing as Turkey's national economy struggles with outlandish levels of inflation.

Over the last few months, Turkey has been battling inflation levels of approximately 70%, and the its national currency, the Lira, has been the subject of detailed analysis in that it has faced a severe crisis.

The Turkish Lira, although not a major currency, is widely traded against majors such as the Euro, US Dollar, Swiss Franc, Japanese Yen and British Pound and as a result of this status, it has been an important currency to monitor recently as the economic circumstances which the Turkish economy has faced impinge on its value.

This week, the Turkish government took drastic action by enforcing a ban on companies based in Turkey which have significant reserves of foreign currency from taking loans.

This resulted in an increase in the value of the Turkish Lira, however yesterday the Turkish Lira actually whipsawed against the US Dollar as the most interesting stage in a four-day rally in value by the Turkish currency.

Whipsawing is a term used by traders which describes a pattern in a volatile market in which a sharp price movement is suddenly followed by a sharp reversal.

In the case of the Turkish Lira, the currency rallied against the US Dollar on Friday last week, at one point surging by 5% against the US Dollar, which is the highest it has gained this year.

Overall on Friday, the Turkish Lira had traded up 2.5%, which is the biggest gain of any currency in the world against the US Dollar during Friday's trading session.

As this week has progressed, the upward trend continued for the Lira until yesterday, when it whipsawed.

By Monday morning this week, the Turkish Lira had gained an impressive 8% against the US Dollar, trading at 16.01 compared to Thursday's close of 17.35.

However, on Monday afternoon, late into the European trading session, the Turkish Lira whipsawed within the 16 to 17 Lira per US Dollar range.

These volatile movements reflected the varied opinions of investors regarding the new ban on loans to companies which hold reserves of non-Turkish currency.

The policy, which affects around 10,000 businesses in Turkey, means that if those companies wish to obtain commercial loans, they would have to sell a sufficient amount of their non-Turkish currency reserves on the Forex market and then buy Lira instead. The idea of this is to attempt to bolster the value of the embattled Turkish Lira which has lost half of its value in the past 12 months.

The new rule stipulates that all companies which hold the equivalent of 15 million Turkish Lira in non-Turkish currency, cannot borrow lira if their FX funds exceed 10% of their assets or yearly sales. 15 million Turkish Lira is approximately $910,000.

Smaller companies which cannot take loans in non-Turkish currency are exempt from this ruling as long as their FX position is net, and they are allowed to borrow in Lira.

The government's stringent action is indicative of the crisis which the Lira faces, as the inflation level reached 73% recently, removing the purchasing power of the vast majority of the nation's citizens and businesses.

The Lira is clearly now a volatile currency against majors and therefore one to watch.

FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 30, 2022, 02:50:20 PM
ETHUSD and LTCUSD Technical Analysis – 30th JUNE, 2022
(https://i.postimg.cc/3Ns3Jfth/ltc.jpg)

ETHUSD – Bearish Doji Star Pattern Below $1279

Ethereum was unable to sustain its bullish momentum and after touching a high of 1278 on 26th June started to decline heavily against the US Dollar.

We can see that the prices have fallen below the $1100 handle and now trading at $1052 in the European Trading session today.

We can see the formation of a Falling Trend Channel below the $1200 handle and now we are looking at $1050 and $1000 as the immediate targets.

The prices touched an Intraday Low of $1049 in the European Trading session and an Intraday High of $1117 in the Asian Trading session today.

We can clearly see a Bearish Doji Star Pattern Below the $1279 handle which is a Bearish pattern and signifies the end of a Bullish phase and the start of a Bearish phase in the markets.

ETH is now trading below its Pivot levels of 1069 and is moving into a Strong Bearish channel. The price of ETHUSD is now testing its Classic support levels of 1015 and Fibonacci support levels of 1057 after which the path towards 1000 will get cleared.

Relative Strength Index is at 24 indicating an OVERSOLD market and the shift towards the consolidation phase in the markets.

Both the STOCHRSI and Williams Percent Range are indicating Oversold levels, which means that the prices are due to correct upwards in the short-term range.

All of the of the Technical indicators are giving a STRONG SELL market Signal.

All of the Moving Averages are giving a STRONG SELL Signal and we are now looking at the levels of $1000 to $950 in the short-term range.

ETH is now trading Below its both the 100 Hourly Simple and Exponential Moving Averages.


Ether Bearish Reversal Seen Below $1279
(https://i.postimg.cc/kMzJcDqH/ltcx.jpg)

ETHUSD is now moving into a Strong Bearish Channel with the prices trading below the $1100 handle in the European Trading session today.

We have also detected the formation of a Bearish Harami pattern in the 15-minutes timeframe indicating weakness and the continuation of the downtrend.

The Commodity Channel Index is giving Oversold levels which means that the prices of Ethereum are due for an upwards correction.

The key support levels to watch are $1036 and $1015 and the prices of ETHUSD need to remain above these levels for any Bullish reversal.

ETH has decreased by 7.05% with a price change of 79$ in the past 24hrs and has a trading volume of 15.621 Billion USD.

We can see an Increase of 7.43% in the total trading volume in last 24 hrs. which appears to be Normal.

The Week Ahead

The global investor sentiments are weak due to the changing Geo-political situation in the Europe, amid the ongoing Russia-Ukraine conflict and meeting of NATO leaders in Madrid.

The prices of Ethereum continue to remain above the important psychological support levels of $1000 and most of the technical are now indicating a Neutral market.

The immediate short-term outlook for the Ether has turned as Strongly BEARISH, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.

In this week Ether is expected to move in a range between the $1000 and $1150 and in the next week Ether is expected to enter into a Consolidation phase above the $1100 levels.

Technical Indicators:

STOCH (9,6): It is at 38.51 indicating a SELL.

Average Directional Change(14days): It is at 40.18 indicating a SELL.

Rate of Price Change: It is at -4.50 indicating a SELL.

Ultimate Oscillator: It is at 34.22 indicating a SELL.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 01, 2022, 08:13:20 AM
AUD/USD and NZD/USD Could Eye Fresh Increase
(https://i.postimg.cc/dQ23QCCY/aud.jpg)

AUD/USD started a fresh decline from the 0.6980 resistance. NZD/USD is also declining and might even trade below the 0.6150 support.

Important Takeaways for AUD/USD and NZD/USD

[LIST=1]

AUD/USD Technical Analysis

The Aussie Dollar attempted a fresh increase above the 0.6980 and 0.7000 levels against the US Dollar. However, the AUD/USD pair failed to continue higher above 0.6980 and started another decline.

There was a move below the 0.6950 and 0.6920 support levels. There was a close below the 0.6900 level and the 50 hourly simple moving average. The pair traded as low as 0.6821 and is currently showing a lot of bearish signs.

AUD/USD Hourly Chart
(https://i.postimg.cc/WbS4gPSY/audx.jpg)

On the downside, an initial support is near the 0.6800 level. The next support could be the 0.6780 level. The main support is near the 0.6720 level. If there is a downside break below the 0.6720 support, the pair could extend its decline towards the 0.6650 level.

Any more downsides might send the pair toward the 0.6600 level. On the upside, the AUD/USD pair is facing resistance near the 0.6845 level. It is near the 23.6% Fib retracement level of the downward move from the 0.6919 swing high to 0.6821 low.

The next major resistance is near the 0.6870 level. It is near the 50% Fib retracement level of the downward move from the 0.6919 swing high to 0.6821 low.

There is also a key bearish trend line forming with resistance near 0.6880 on the hourly chart of AUD/USD. A close above the 0.6880 level could start a steady increase in the near term. The next major resistance could be 0.6950.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 04, 2022, 07:13:28 AM
GBP/USD and GBP/JPY Face Uphill Task
(https://i.postimg.cc/RV09rHHG/gbp.jpg)

GBP/USD started a fresh decline from the 1.2320 resistance zone. GBP/JPY declined and remains at a risk of more losses below 162.00.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound attempted an upside break above the 1.2320 resistance against the US Dollar. The GBP/USD pair failed to gain bullish momentum and started a fresh decline from the 1.2200 zone.

There was a sharp decline below the 1.2150 support and the 50 hourly simple moving average. The pair even traded below the 1.2000 support zone. A low was formed near 1.1975 on FXOpen before the pair started a recovery wave.

GBP/USD Hourly Chart
(https://i.postimg.cc/W1BPJYff/gbpx.jpg)

The pair climbed above the 1.2050 resistance zone. It even broke the 50% Fib retracement level of the downward move from the 1.2188 swing high to 1.1975 low.

On the upside, the pair is facing resistance near the 1.2110 level. It is near the 61.8% Fib retracement level of the downward move from the 1.2188 swing high to 1.1975 low. There is also a major bearish trend line forming with resistance near 1.2120 on the hourly chart of GBP/USD.

An upside break above 1.2120 could set the pace for a move towards the 1.2200 resistance zone. If there is no upside break above 1.2120, the pair could start a fresh decline.

An immediate support is near the 1.2050. The next major support is near the 1.2000 level. If there is a break below the 1.2000 support, the pair could test the 1.1920 support.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 04, 2022, 04:30:28 PM
US Dollar's sustained rally is surprising the markets, especially against Bitcoin
(https://i.postimg.cc/SNT1x1Jw/usd-btc.jpg)

During the past few weeks, the US Dollar has been surprisingly strong against many western majors, notably the Euro and British Pound, despite the American and European economies facing very similar obstacles over the past two years.

This has been a particularly interesting dynamic, especially as the inflation levels among European Union member states, the United Kingdom and the United States are at levels not seen since the 1980s, and the geopolitical circumstances foist upon the citizens are similar.

The US Dollar also lost part of its status as a settlement instrument for global oil and gas purchasing a few months ago when the Russian government rolled out a new policy that ensures all Western buyers of oil and gas from Russia settle their deliveries in Rubles.

Despite all of this, the US Dollar has been performing well against its major peers, and perhaps more interestingly, against Bitcoin, too.

Last year, analysts in Wall Street predicted that the Bitcoin would go to $150,000 in value over the 'next few months'. This has not happened and in reality, Bitcoin' inverse correlation with the US Dollar actually hit a 17-month high yesterday.

It is unusual for analysts within Tier 1 banks in Wall Street to make incorrect predictions. They were right about the oil prices, afterall, when many analysts said in the summer of 2021 that Brent Crude would go to $80 per barrel by the autumn, as that is exactly what happened.

However, when it comes to Bitcoin, things have been less predictable, even by experts who have the credibility of a Tier 1 investment bank to uphold.

Bitcoin's current relatively low value has become a sustained circumstance, and now, market analysts are starting to comment that the US Dollar rally may either stll or correct by the end of 2022 against its fiat currency peers, which in turn may benefit Bitcoin.

This goes some way toward suggesting that Bitcoin is now almost behaving like an established currency in that its movements are less volatile than previously and than some altcoins, and that its future performance is being viewed via the same lens as the future performance of other major fiat currencies against the US dollar.

Importantly, the weekly correlation coefficient between Bitcoin and the US Dollar dropped to 0.77 below zero in the week ending July 3, its lowest in seventeen months.

It appears that investors are more confident in the performance of stock market indices than currencies during a time at which the central banks of Europe and the United States are engaged in interest rate increases as attempts to curb inflation.

The Federal Reserve Bank has invoked a series of rate hikes, as have the Bank of England and even the European Central Bank recently which invoked its first rate hike for several years.

Therefore, the currency market is in focus, and Bitcoin has lost 60% of its value so far in 2022, whereas the NASDAQ composite index, which is the home of many publicly listed technology companies, has only declined in returns by 29% over the same period.

As far as measuring the US Dollar against other currencies is concerned, the US Dollar is in a very good position as the US dollar index (DXY), which is a metric that measures its strength against a basket of top foreign currencies, has been recently consistent around its January 2003 highs of 105.78.

The fervent influx of new Bitcoin investors who took to the cryptocurrency market in 2021 after Elon Musk's famous tweet which collapsed the value of 5 popular cryptocurrencies by almost a trillion dollars has subsided. These were analytical investors who 'bought the dip' realizing that soon it would correct, and it did, soon after Elon Musk put out another tweet saying that the environmental factors he had previously cited had been resolved.

This level of volatility has not been experienced this year, and there are even market pundits saying that Bitcoin may have 'bottomed out', with one on-chain indicator predicting that Bitcoin could go to $15,600 as a low point this year.

It is an interesting time, and the fiat currency volatility, especially that of the US Dollar, and the tinderbox situation of many western economies plus the stagnancy of Bitcoin is a conundrum of a different nature to that of just a year ago.

FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 05, 2022, 05:38:12 PM
BTCUSD and XRPUSD Technical Analysis – 05th JULY 2022
(https://i.postimg.cc/ZqnKdcxV/btc.jpg)

BTCUSD: Bullish Doji Star Pattern Above $18900

Bitcoin was unable to sustain its bullish momentum last week and started to decline against the US dollar touching a low of 18646 on 30th June, after which we can see some correction in its levels above the $19000 handle.

The prices of bitcoin started to reverse, confirming the bullish tone in the markets. We can see a shift towards the consolidation channel above the $19500 handle in the European trading session today.

We can clearly see a bullish doji star pattern above the $18900 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term a decline in the prices is expected.

The relative strength index is at 56 indicating a STRONG demand for bitcoin at the current market levels.

Bitcoin is now moving below its 100 hourly simple moving average and its 200 hourly simple moving average.

All of the major technical indicators are giving a strong buy signal, which means that in the immediate short term, we are expecting targets of 20500 and 22000.

The average true range is indicating less market volatility with a bullish momentum.


Bitcoin: Bullish Reversal Seen Above $18900
(https://i.postimg.cc/3wqrCvL7/btx.png)

The price of Bitcoin has entered into a consolidation channel above the $19000 handle and the continuation of the bullish momentum above the $19500 level.

The global sentiments continue to improve, and now the prices are forming an ascending channel above the $19000 level.

A bullish run is expected up to the level of $24821 as indicated by the simple MA 200, after which we will see some downwards correction.

The on-chain activity has increased which points to a potential bullish nature of the prevailing market conditions.

The immediate short-term outlook for bitcoin is Bullish; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

Bitcoin is finding support above the $18500 level as the prices continue to remain above these levels during the bearish phase of the markets.

The price of BTCUSD is now facing its classic resistance level of 20365 and Fibonacci resistance level of 20527 after which the path towards 21000 will get cleared.

In the last 24hrs, BTCUSD has increased by 3.89% by 745$ and has a 24hr trading volume of USD 24.759 billion. We can see an increase of 61.73% in the trading volume as compared to yesterday, which is due to the buying seen at lower levels by the medium-term Investors.

The Week Ahead

The price of bitcoin is moving in a bullish momentum, and the immediate targets are $20500 and $21500. The daily RSI is printing at 35 which means that the medium range demand continues to be weak.

We can see that the prices of bitcoin have stabilized above the $19000 handle, and now we are looking at the important support levels of $18847 and $19150.

The price of BTCUSD will need to remain above the important support level of $19000 this week.

The weekly outlook is projected at $22500 with a consolidation zone of $20500.

Technical Indicators:

The average directional change (14 days): at 33.00 indicating a BUY

The ultimate oscillator: at 51.57 indicating a BUY

The rate of price change: at 3.075 indicating a BUY

The commodity channel index (14 days): at 92.63 indicating a BUY

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 06, 2022, 07:30:39 AM
EUR/USD and EUR/JPY Remain In Downtrend
(https://i.postimg.cc/Gpt7WVpQ/eur.jpg)
EUR/USD started a fresh decline and traded below 1.0350. EUR/JPY is also diving and remains at a risk of more losses below 138.50.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro failed to clear the 1.0500 resistance against the US Dollar. The EUR/USD pair started a major decline below the 1.0450 and 1.0350 support levels.

There was a clear move below the 1.0320 level and the 50 hourly simple moving average. The pair even settled below the 1.0280 level. A low was formed near 1.0235 on FXOpen and the pair is now consolidating losses.

EUR/USD Hourly Chart
(https://i.postimg.cc/0N4WPnMq/eurx.jpg)

On the upside, the pair is facing resistance near the 1.0290 level. It is near the 23.6% Fib retracement level of the downward move from the 1.0462 swing high to 1.0235 low.

The next major resistance is near the 1.0350 level. It is near the 50% Fib retracement level of the downward move from the 1.0462 swing high to 1.0235 low. Besides, there is a key bearish trend line forming with resistance near 1.0400 on the hourly chart.

A clear break above the 1.0400 resistance could push EUR/USD towards 1.0500. If the bulls remain in action, the pair could revisit the 1.0550 resistance zone in the near term.

On the downside, the pair might find support near the 1.0235 level. The next major support sits near the 1.0200 level. If there is a downside break below the 1.0200 support, the pair might accelerate lower in the coming sessions.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 07, 2022, 08:28:53 AM
GBP falls to 1.20 against the US Dollar amid British government uncertainty
(https://i.postimg.cc/RFjGpyQY/gbp.jpg)

The British Pound slid once again during the early hours of this morning to 1.20 against the US Dollar, signaling a return to the low point that it reached last week.

This morning's slump for the British Pound takes place during a time at which the current British government is in turmoil, with two senior ministers having resigned from their positions during the late hours of yesterday.

Rishi Sunak, the Chancellor of the Exchequer (Finance Minister) resigned, as did his colleague Sajid Javid, who had until yesterday held the position of Secretary of State for Health and Social Care.

This has raised a lot of speculation within the United Kingdom regarding the longevity of the current government, and whether prime minister Boris Johnson will follow suit, or whether he will hang onto his position until potentially ousted by his own party.

Either way, there is a reflection on the policies implemented over the past two years by the current government, including the fiscal policies of Rishi Sunak who has now made for the hills. Those included furlough schemes, which paid people to stay off work and comply with lockdowns, at great cost to the taxpayer and overall economic growth.

The blame for the cost of living crisis which is currently ongoing within the United Kingdom, and the increasing interest rates to curb inflation that is at a 40 year high is being laid at the door of the government, and therefore all eyes are on the next move from within Parliament.

Confidence in the British Pound this morning is therefore low, as it is very difficult to gauge whether the current government will soldier on, or whether an election may be called.

Meanwhile, the US Dollar continues its strong dynamic despite inflation levels in the United States being at their highest level in 40 years, and multiple interest rate increases by the Federal Reserve bank, and the Euro lags only marginally behind the US Dollar, with the European Central Bank having only made one interest rate rise during this period of high inflation across the Western world.

It is a volatile period as far as geopolitical activity is concerned, and the value of the GBPUSD is a clear demonstration of where the current market confidence lies.

Overall, Britain's economic situation is very stable, and perhaps more so than that of the United States on a very general level, but the policies and confidence in the current administration on both sides of the Atlantic is waning fast, with some of Britain's top ministers taking their final paychecks first.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 07, 2022, 06:41:55 PM
ETHUSD and LTCUSD Technical Analysis – 07th JULY, 2022
(https://i.postimg.cc/yNjcb2jY/eth.jpg)

ETHUSD: Bullish Doji Star Pattern Above $1040

Ethereum has started its bullish momentum against the US dollar after moving into a consolidation channel last week and is now trading above the $1100 handle in the US trading session.

We can see a continued appreciation in the prices of Ethereum, mainly due to the buying seen at lower levels by the medium-term investors.

We can see the formation of a super trend in the 15-minute time frame above the $1100 handle, and now are looking at $1200 and $1250 as the immediate targets.

The prices touched an intraday low of $1155 in the Asian trading session and an intraday high of $1201 in the European trading session today.

We can clearly see a bullish doji star pattern above the $1040 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading above its pivot level of 1182 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1190 and Fibonacci resistance level of 1197 after which the path towards 1200 will get cleared.

The relative strength index is at 61 indicating a STRONG market and the continuation of the uptrend in the markets.

The STOCHRSI is indicating a NEUTRAL level, which means that the prices are expected to enter into a consolidation phase in the short-term range.

All of the technical indicators are giving a STRONG BUY market signal.

All of the moving averages are giving a STRONG BUY signal, and we are now looking at the levels of $1200 to $1250 in the short-term range.

ETH is now trading above its 100 hourly simple and exponential MAs.


Ether: Bullish Continuation Seen Above $1040
(https://i.postimg.cc/B6vH9N75/etx.png)

ETHUSD is now moving into a mildly bullish channel with the prices trading above the $1100 handle in the European trading session today.

We have also detected the formation of an ascending contraction triangle pattern in the hourly time frame indicating that the price is likely to climb higher crossing the $1200 level.

We can see that the price of Ethereum is slowly recovering against the US dollar and continues to gain traction today.

The current price action is positive for the markets, and the prices are expected to remain above the $1200 levels in the US trading session today.

The key support levels to watch are $1100 and $1159, and the prices of ETHUSD need to remain above these levels for the continuation of the bullish trend.

ETH has decreased by 3.30% with a price change of 37$ in the past 24hrs and has a trading volume of 13.489 billion USD.

We can see a decrease of 20.16% in the total trading volume in the last 24 hrs. which appears to be normal.

The Week Ahead

The on-chain data shows that the number of ETH holders is increasing which suggests that the global user activity is at an all-time high leading to an increase in the global investor sentiment.

The prices of Ethereum continue to remain above the important psychological support level of $1100 and most of the technicals are now indicating a bullish market.

The immediate short-term outlook for Ether has turned strongly BULLISH; the medium-term outlook has turned NEUTRAL; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $1100 and $1300, and next week, it is expected to enter into a consolidation phase above $1200.

Technical Indicators:

The moving averages convergence divergence (12,26): at 9.93 indicating a BUY

The average directional change (14 days): at 33.57 indicating a BUY

The rate of price change: at 2.59 indicating a BUY

The ultimate oscillator: at 56.07 indicating a BUY

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 08, 2022, 08:32:53 AM
Gold Price Turns Red, Crude Oil Price Faces Hurdle
(https://i.postimg.cc/XYdxcbBx/gold.jpg)

Gold price started a major decline below the $1,800 support zone. Crude oil price is attempting a recovery wave from the $93.20 zone.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price struggled to gain pace above the $1,815 resistance zone against the US Dollar. The price started a fresh decline and traded below the $1,800 pivot level.

There was a clear move below the $1,785 support zone and the 50 hourly simple moving average. The price even traded below the $1,750 level and formed a low near $1,732 on FXOpen. It is now consolidating losses above the $1,730 level.

Gold Price Hourly Chart
(https://i.postimg.cc/vmyh0NWy/goldx.jpg)

On the upside, the price is facing resistance near the $1,750 level. There is also a key bearish trend line forming with resistance near $1,750 on the hourly chart of gold.

The trend line is near the 23.6% Fib retracement level of the downward move from the $1,814 swing high to $1,732 low. A clear upside break above the trend line and the 50 hourly simple moving average could send the price towards $1,762.

The main resistance is now forming near the $1,775 level. It is near the 50% Fib retracement level of the downward move from the $1,814 swing high to $1,732 low.

A close above the $1,775 level could open the doors for a steady increase towards $1,800. The next major resistance sits near the $1,815 level. On the downside, an initial support is near the $1,735 level. The next major support is near the $1,725 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,700 support zone.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 11, 2022, 06:59:46 AM
GBP/USD Faces Hurdles, EUR/GBP Could Correct Losses
(https://i.postimg.cc/4xGTx8gS/gbp.jpg)

GBP/USD started a fresh decline from the 1.2165 resistance. EUR/GBP declined heavily and tested the 0.8440 support zone.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound failed to gain strength above the 1.2200 level against the US Dollar. The GBP/USD pair started a fresh decline below the 1.2150 and 1.2120 support levels.

There was a clear move below the 1.2000 support level and the 50 hourly simple moving average. The bears even pushed the pair below the 1.1950 level. A low was formed near 1.1875 on FXOpen the pair is now correcting losses.

GBP/USD Hourly Chart
(https://i.postimg.cc/fRvQtxWT/gbpx.jpg)

There was a move above the 1.1950 and 1.2000 resistance levels. The pair even climbed above the 50% Fib retracement level of the downward move from the 1.2165 swing high to 1.1875 low.

However, the pair faced sellers near the 1.2050 level. It struggled near the 61.8% Fib retracement level of the downward move from the 1.2165 swing high to 1.1875 low. On the upside, an initial resistance is near the 1.2020 level.

The next main resistance is near the 1.2050 zone. A clear upside break above the 1.2020 and 1.2050 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2165 level.

If not, the pair might start a fresh decline below 1.1980. There is also a key bullish trend line forming with support near 1.1960 on the hourly chart of GBP/USD. The next major support is near the 1.1920 level. Any more losses could lead the pair towards the 1.1875 support zone or even 1.1800.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 12, 2022, 05:10:56 PM
BTCUSD and XRPUSD Technical Analysis – 12th JULY 2022
(https://i.postimg.cc/6p0SVZRS/btc.jpg)

BTCUSD: Double Top Pattern Below $22015

Bitcoin was unable to sustain its bullish momentum last week, and after touching a high of 22181 on 8th July, started to decline against the US dollar.  The downfall of bitcoin continues today and is now trading below the $20000 handle in the European trading session.

The price of bitcoin failed to clear its resistance zone of $23000, and we can see that price is struggling to keep itself above the important psychological support level of $20000.

We can clearly see a double top pattern below the $22015 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 20419 in the Asian trading session and an intraday low of 19570 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 29 indicating a weak demand for bitcoin at the current market level.

Bitcoin is now moving below its 100 hourly simple moving average and its 200 hourly simple moving average.

All of the major technical indicators are giving a strong sell signal, which means that in the immediate short term, we are expecting targets of 19500 and 19000.

The average true range is indicating lesser market volatility with a bearish momentum.


Bitcoin: Bearish Reversal Seen Below $22015
(https://i.postimg.cc/N0jnd0k0/btx.png)

The prices of bitcoin continue to decline below the $20000 handle, and we are now testing the important support level of $19000 in the European trading session.

The global sentiments are weak, and the strength of the US dollar is causing bitcoin to lose its value in the short term.

We can see the formation of a falling trend channel, and now we are facing the immediate targets of $19500 and $19000.

Bitcoin continues to remain under short-term bearish pressure, and the prices are expected to enter into a consolidation channel above the $19000 handle.

The immediate short term outlook for bitcoin is bearish, the medium term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

The Bitcoin support zone is located at $18607, and the price continues to remain above these levels during the bearish phase of the markets.

The price of BTCUSD is now facing its classic support levels of 19373 and Fibonacci support level of 19639 after which the path towards 19000 will get cleared.

In the last 24hrs BTCUSD has increased by 4.12% by 845$ and has a 24hr trading volume of USD 26.023 billion. We can see a decrease of 5.08% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The prices of bitcoin are moving in a bearish momentum, and the immediate targets are $19500 and $18500.

The daily RSI is printing at 35 which means that the medium range demand continues to be weak.

We can see the formation of a contraction triangle below the $21752 and further downside breaks are expected this week.

The price of BTCUSD will need to remain above the important support level of $18000 this week.

The weekly outlook is projected at $18500 with a consolidation zone of $18000.

Technical Indicators:

The average directional change (14 days): at 38.07 indicating a SELL

The ultimate oscillator: at 38.89 indicating a SELL

The rate of price change: at -4.36 indicating a SELL

The commodity channel index (14 days): at -140 indicating a SELL

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 12, 2022, 05:52:59 PM
Big tech earnings awaited; the strong US Dollar could be their achilles heel

(https://i.postimg.cc/Pxk6vzr0/stocks-g.jpg)

The Big Tech stocks which are listed on prominent North American stock exchanges have been unusually volatile recently.

Large technology companies such as Microsoft, Apple and Google are often regarded by traders as steady, non-volatile investments which only move very slightly, hence their wide-ranging popularity among all kinds of traders and investors.

Recently, however, things have been somewhat different. There was a considerable collapse in the value of the stock of many big tech companies recently, which even as recently as May this year was being described by the mainstream media as 'far from over'.

Such volatility is rare, however now there is another element which is important to consider; the strong US Dollar.

The US Dollar has been surprisingly strong against its rival major currencies recently, and this strength is looking likely to affect the performance of the stocks of American big tech firms with a global audience such as Apple, Meta (Facebook), Alphabet (Google), Netflix and Tesla as their largest percentage of sales and revenue is generated outside the United States.

Therefore, being US-headquartered companies, the strong dollar vs weaker currencies in the regions in which these companies conduct most of their business means that there is a potential impact on revenues looming.

Asian currencies have fallen much less than the euro, and hedging and shifting production can cut currency volatility. This may seem an extreme logistics and organizational exercise, but it is possible given the global footprint of these multinational giants and the need to hedge against the currency market's considerable movements between US Dollar and other currencies lately.

To demonstrate how this actually works, it is worth looking at the 11% increase this year against a basket of currencies that the US Dollar has achieved, and especially the 12% it has gained against the euro.

This could potentially create a major issue as earnings season begins. For example, many companies included in the S&P500 index generate 29% of their sales from outside the United States according to Goldman Sachs.

These companies often sell those products or services in local currencies, then report financial results including those sales in dollars. Therefore, if Nike sells a pair of shoes for 100 euros, it was worth about $7 less at the end of its quarter than at the beginning of the same quarter.

Given the economic woes that exist in the United States such as spiraling inflation which is at its highest point in 40 years, and a cost of living crisis, it may be difficult to understand why the US Dollar is rising against other majors such as the Euro and British Pound, both of which are legal tender in regions that face the exact same economic woes as the United States. Mainland Europe and Britain are both mired in high inflation and cost of living crises, but the Dollar is trumping the Euro and Pound.

One possible explanation for this could be that the dollar has risen for the reason it often does during global economic weakness, in that it is viewed as the world’s reserve currency, and therefore a safe haven.

Perhaps Bitcoin had been viewed that way as it is decentralized and away from the politicians and central banks, but the US Dollar is even performing well against Bitcoin and has been for a number of weeks now.

This matter in which the US Dollar's strength may impact corporate earnings is interesting, therefore the big publicly listed stocks are equally interesting to watch as the earnings reports are released.

FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 13, 2022, 07:04:18 AM
EUR/USD Dives To Parity, USD/JPY Eyes More Upsides

(https://i.postimg.cc/XJWMgr0h/eur.jpg)

EUR/USD extended decline and tested the 1.0000 support. USD/JPY is rising and might continue to gain pace towards the 140.00 resistance

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This past week, the Euro started a major decline from well above the 1.0500 level against the US Dollar. The EUR/USD pair declined below the 1.0320 and 1.0250 support levels.

The bears even pushed the pair below the 1.0100 level. There was a close below 1.0100 and the 50 hourly simple moving average. It tested the parity zone and a low is formed near 1.0000 on FXOpen.

EUR/USD Hourly Chart
(https://i.postimg.cc/2yjPPgy7/eurx.jpg)

It is now consolidating losses and trading above the 1.0020 level. An immediate resistance on the upside is near the 1.0035 level. There is also a major bearish trend line forming with resistance near 1.0035 on the hourly chart of EUR/USD.

The trend line is near the 23.6% Fib retracement level of the downward move from the 1.0189 swing high to 1.0000 low. The next major resistance is near the 1.0070 level and the 50 hourly simple moving average.

The main resistance is near the 1.0100 level. It is near the 50% Fib retracement level of the downward move from the 1.0189 swing high to 1.0000 low. An upside break above 1.0100 could set the pace for a steady increase.

If not, the pair might drop and test the 1.0000 support. The next major support is near 0.9950, below which the pair could drop to 0.9900 in the near term.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 14, 2022, 03:06:56 PM
ETHUSD and LTCUSD Technical Analysis – 14th JULY, 2022
(https://i.postimg.cc/Hnmsy1kq/eth.jpg)

ETHUSD: Ascending Triangle Pattern Above $1006

Ethereum was unable to sustain its bullish momentum, and after touching a high of 1251 on 9th July started to decline against the US dollar touching a low of 1006 on 13th July.

After this steep decline, we can see that the prices have recovered and started upwards correction with a bullish momentum.

We can see that ETH is gaining traction against the US dollar as the price remains supported above the $1050 handle in the European trading session today.

The prices touched an intraday low of $1075 and an intraday high of $1125 in the Asian trading session today.

We can clearly see an ascending triangle pattern above the $1006 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading below its pivot levels of 1101 and is moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1107 and Fibonacci resistance level of 1112 after which the path towards 1200 will get cleared.

The relative strength index is at 54 indicating a NEUTRAL market and the continuation of the uptrend in the markets.

The Williams percent range and commodity channel index are indicating NEUTRAL levels, which means that the prices are expected to enter into a consolidation phase in the short-term range.

Some of the technical indicators are giving a BUY market signal. Some of the moving averages are giving a BUY signal, and we are now looking at the levels of $1100 to $1150 in the short-term range.

ETH is now trading below both its 100 hourly simple and exponential moving averages.


Ether: Bullish Continuation Seen Above $1006
(https://i.postimg.cc/yxT6hpJk/etx.png)

ETHUSD is now moving in a mildly bullish channel with the prices trading above the $1050 handle in the European trading session today.

We have also detected the formation of MA20 and MA50 crossover patterns in the hourly time frame indicating that the price is likely to climb higher crossing the $1150 level.

We can see that the prices of Ethereum are slowly preparing for the next move above the $1100 level today.

The STOCHRSI is indicating an oversold market, which means that the prices are due to correct upwards in the short-term range.

The current price action is positive for the markets, and the prices are expected to remain above the $1000 level in the US trading session today.

The key support levels to watch are $1085 and $1093, and the prices of ETHUSD need to remain above these levels for the continuation of the bullish trend.

ETH has increased by 2.90% with a price change of 30$ in the past 24hrs and has a trading volume of 18.112 billion USD.

We can see an increase of 39.80% in the total trading volume in the last 24 hrs which is due to buying seen at lower levels by the medium-term investors.

The Week Ahead

On an upside potential $1300 remains as a major hurdle, and the price of Ethereum will test this resistance zone next week.

The price of Ethereum continues to remain above the important psychological support level of $1000 and some of the technicals are now indicating a bullish market.

The immediate short-term outlook for Ether has turned mildly BULLISH; the medium-term outlook has turned NEUTRAL; and the long-term outlook for Ether is NEUTRAL in present market conditions.

This week, Ether is expected to move in a range between $1000 and $1150, and next week, it is expected to enter into a consolidation phase above $1150.

Technical Indicators:

The STOCH (9,6): at 57.54 indicating a BUY

The moving averages convergence divergence (12,26): at 10.20 indicating a BUY

The rate of price change: at 0.321 indicating a BUY

Bull/Bear power (13): at 1.08 indicating a BUY

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 15, 2022, 06:22:44 AM
AUD/USD and NZD/USD Eye Key Upside Break
(https://i.postimg.cc/qv4zzkHr/aud.jpg)

AUD/USD is attempting a recovery wave above the 0.6750 resistance. NZD/USD is also eyeing a key upside break above the 0.6140 resistance.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar attempted a fresh increase above the 0.6800 and 0.6810 levels against the US Dollar. However, the AUD/USD pair failed to continue higher above 0.6800 and started another decline.

There was a move below the 0.6750 and 0.6720 support levels. There was a close below the 0.6750 level and the 50 hourly simple moving average. The pair traded as low as 0.6681 and is currently correcting losses.

AUD/USD Hourly Chart
(https://i.postimg.cc/Vkg5t3zC/audx.jpg)

There was a move above the 0.6725 resistance level. The pair climbed above the 50% Fib retracement level of the downward move from the 0.6803 swing high to 0.6681 low.

On the upside, the AUD/USD pair is facing resistance near the 0.6750 level. It is near the 61.8% Fib retracement level of the downward move from the 0.6803 swing high to 0.6681 low. There is also a key bearish trend line forming with resistance near 0.6750 on the hourly chart of AUD/USD.

The next major resistance is near the 0.6800 level. A close above the 0.6800 level could start a steady increase in the near term. The next major resistance could be 0.6880.

On the downside, an initial support is near the 0.6725 level. The next support could be the 0.6700 level. The main support is near the 0.6680 level. If there is a downside break below the 0.6680 support, the pair could extend its decline towards the 0.6650 level.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 15, 2022, 06:59:03 PM
Watch FXOpen's July 11 - 15 Weekly Digest Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.




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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 18, 2022, 07:14:40 AM
GBP/USD Eyes Recovery While USD/CAD Is Sliding
(https://i.postimg.cc/vH2Xn6Mf/gbp.jpg)

GBP/USD could gain pace if it clears the 1.1900 resistance zone. USD/CAD is sliding and could extend losses below the 1.3000 level.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis

After facing sellers near 1.2055, the British Pound started a fresh decline against the US Dollar. GBP/USD declined heavily below the 1.2000 support zone.

There was a move below the 1.1900 support zone and the 50 hourly simple moving average. The pair traded as low as 1.1761 and is currently correcting higher. There was a clear move above the 1.1850 resistance zone.

GBP/USD Hourly Chart
(https://i.postimg.cc/L8qD3667/gbpx.jpg)

The pair climbed above the 50% Fib retracement level of the downward move from the 1.1967 swing high to 1.1761 low. An immediate resistance is near the 1.1900 level.

There is also a key bearish trend line forming with resistance near 1.1900 on the hourly chart of GBP/USD. The next key resistance is near the 1.1920 level. It is near the 76.4% Fib retracement level of the downward move from the 1.1967 swing high to 1.1761 low.

If there is an upside break above the 1.1920 zone, the pair could rise towards 1.2000. The next key resistance could be 1.2050, above which the pair could gain strength.

On the downside, an initial support is near the 1.1860 area. The first major support is near the 1.1840 level. If there is a break below 1.1840, the pair could extend its decline. The next key support is near the 1.1760 level. Any more losses might call for a test of the 1.1700 support.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 18, 2022, 04:28:08 PM
Gold begins to move upwards, but 1-year low still lingering
(https://i.postimg.cc/Ss051vnq/gold.jpg)

Gold has been struggling to maintain the values that it reached during the spring of 2022 over recent months, and by the middle of July it had reached a 1-year low.

Whereas the prices in May had reached $1,980 per ounce, Gold had dropped to $1,700 by July 14.

Today, however, a slight upturn in the value of Gold has begun to make itself evident, and this morning during the Asian trading session, Gold had risen to $1,720 per ounce.

Admittedly, this is still a low value compared to any time during the past twelve months, but the factors which are now beginning to influence the value of gold away from its two-month long decline to the low value reached at the end of last week.

This morning, Gold rose to $1,717 per ounce, which some are attributing to a weakness in the US Dollar. Ordinarily commodities and stores of value such as Gold would not be so influenced by the currency market, but the US Dollar's value is intrinsic to the value of Gold because Gold is valued in US Dollars and bought and settled in US Dollars.

Another US Dollar-related factor which could be contributing to the slight rise in the value of Gold is that the US Federal Reserve Bank intervened to cool down market expectations of a 1.0% rate hike on Friday, which in turn helped the Gold Price to defend the yearly low that it reached on Thursday.

Talk of interest rate increases in the United States are enough to blunt enthusiasm, especially when considering that there have already been a few this year, and that The Index of Consumer Expectations declined to its lowest level since May 1980 at 47.3. These very low figures were released alongside a 0.20% contraction by the US Industrial Production for June to favor Gold buyers or traders of the US Dollar against Gold.

There are talks of a 1% interest rate rise at the next Federal Reserve meeting, and that is a clear indicator that inflation is still a major concern for policymakers in the United States, just as it is in Europe.

The difference is that commodity prices are affected by these economic decisions which involve the US Dollar.

FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 19, 2022, 03:49:29 PM
British Pound begins to rise, but still faces challenges
(https://i.postimg.cc/bJKwVK5z/gbp.jpg)

The British Pound has been subjected to an onslaught of challenges recently.

These challenges have not been short term ones, either.

Over the past two years, there have been factors which have had an overreaching effect on the economic circumstances of most Western nations, including government-enforced lockdowns, which were the first in a series of policies which have had a domino effect.

In the United Kingdom, adherence to lockdowns was enforced in a different way to those in many other nations. Instead of policing the movements of people, the British government introduced a furlough scheme which effectively paid people to stay at home.

This has cost the country's coffers a fortune, and along with a £400 billion borrowing program led by Chancellor of the Exchequer (finance minister) Rishi Sunak, it all has to be paid back by a nation whose productivity was adversely affected for over two years.

The inflation and cost of living crisis that ensued has added further woes to the economic situation and the Pound has languished.

Now, however, it has begun to rise again as the forecast for the Consumer Price Index (CPI) will be released today and it is anticipated to be an almost unbelievable 9.1% year-on-year according to a Bloomberg survey. The Bank of England will meet 4th August to decide on how much to hike rates.

This is certainly not good reading for conservative investors, and really shows the extent of the inflation problem.

The anomaly is the US Dollar's strength. The US Dollar remains very strong against all majors, the British Pound being no exception, especially given that the United States is in equally dire straits in terms of inflation which is at a 40 year high.

Productivity in the United States is quite good, however, whereas in the United Kingdom there are still many large organizations which are still not operating at anything like full capacity.

Perhaps another important factor to consider is that the British Prime Minister resigned amid a myriad of chaotic circumstances at the time when the economy is teetering, with many fingers aiming the blame directly at the incumbent government for the state of the nation's finances.

Therefore, the GBP/USD remains in a downtrend like many other markets as overall US Dollar strength continues.

FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 19, 2022, 04:13:21 PM
BTCUSD and XRPUSD Technical Analysis – 19th JULY 2022
(https://i.postimg.cc/QN065hRG/btc.jpg)

BTCUSD: Triple Bottom Pattern Above $19640

Bitcoin was unable to sustain its bearish momentum and after touching a low of 18991 on 13th July started to correct upwards breaching the $22000 handle on 18th July.

We can see a continued appreciation in the price of bitcoin as global investor sentiments have improved leading to buying action seen in the markets at levels above $19000.

The price of bitcoin is poised to clear the resistance zone located at $23000 after which we will see a continuous upsurge in the levels of BTCUSD.

We can clearly see a triple-bottom pattern above the $19640 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 22937 in the Asian trading session and an intraday low of 21588 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 50 indicating a neutral demand for bitcoin at the current market levels.

Bitcoin is now moving above its 100 hourly simple moving average and 200 hourly simple moving averages.

Some of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 22000 and 23000.

The average true range is indicating less market volatility with a bullish momentum.


Bitcoin: Bullish Reversal Seen Above $19640
(https://i.postimg.cc/65PYjzWM/btx.png)

The price of Bitcoin continues to appreciate above the $21000 handle, and we are now testing the important resistance level of $23000 in the European trading session.

The global sentiments continue to improve leading to broad-based buying by the medium-term investors.

We can see the formation of a rising trend channel and are facing the immediate targets of $22000 and $22700.

Bitcoin’s bearish bias was invalidated above $19000, and we can see a correction wave that is stronger than the previous one.

We can see the formation of a bullish ABCD pattern in the hourly time frame which indicates that we are heading towards the $25000 level.

The immediate short-term outlook for bitcoin is bullish; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $20500, and the prices continue to remain above this level for the continuation of the bullish phase of the markets.

The price of BTCUSD is now facing its classic resistance level of 21868 and Fibonacci resistance level of 21963 after which the path towards 22000 will get cleared.

In the last 24hrs, BTCUSD has declined by 1.73% by 385$ and has a 24hr trading volume of USD 45.154 billion. We can see an increase of 39.50% in the trading volume as compared to yesterday, which is due to the buying seen by the medium-term investors.

The Week Ahead

The price of bitcoin is moving in a bullish momentum, and the immediate targets are $22500 and $23500.

The daily RSI is printing at 53 which means that the medium range demand continues to remain neutral.

We can see the continuation of the recovery mode in bitcoin with the prices touching the $23000 and $24000 levels next week.

The price of BTCUSD will need to remain above the important support level of $20000 this week.

The weekly outlook is projected at $23500 with a consolidation zone of $22500.

Technical Indicators:

The average directional change (14 days): at 25.10 indicating a buy

The ultimate oscillator: at 59.03 indicating a buy

The rate of price change: at 8.61 indicating a buy

The commodity channel index(14days): at 136 indicating a buy

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 20, 2022, 07:58:19 AM
EUR/USD Starts Recovery While USD/CHF Dips Below Support
(https://i.postimg.cc/nrMPCwFD/eur.jpg)

EUR/USD started a recovery wave above the 1.0200 level. USD/CHF is declining and broke a key support near the 0.9750 zone.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis

This past week, the Euro gained pace below the 1.0100 support against the US Dollar. The EUR/USD pair even spiked below the parity level and traded as low as 0.9952 on FXOpen.

Recently, there was a recovery wave above the 1.0000 and 1.0100 resistance levels. The pair climbed above the 1.0150 level and the 50 hourly simple moving average. The pair traded as high as 1.0268 and is currently showing positive signs.

EUR/USD Hourly Chart
(https://i.postimg.cc/nr5w7Yrw/eurx.jpg)

There was a minor drop and a test of the 23.6% Fib retracement level of the upward move from the 1.0119 swing low to 1.0268 high.

An immediate resistance is near the 1.0255 level. The next major resistance is near the 1.0270 level. A clear move above the 1.0270 resistance zone could set the pace for a larger increase towards 1.0350. The next major resistance is near the 1.0450 zone.

On the downside, an immediate support is near the 1.0230 level. There is also a key bullish trend line forming with support near 1.0225 on the hourly chart of EUR/USD.

The next major support is near the 1.0200 level. It is near the 50% Fib retracement level of the upward move from the 1.0119 swing low to 1.0268 high. A downside break below the 1.0200 support could start another decline.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/eur-usd-starts-recovery-while-usd-chf-dips-below-support/)

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 20, 2022, 08:17:14 PM
Big Tech stock languishes, whilst UK inflation rampages
(https://i.postimg.cc/BZymPV9q/bts.jpg)

This week started off with very big moves among the Big Tech stocks on North America's markets, a dynamic which has continued throughout the week so far.

On Monday, Apple stock fell more than 2% in its worst trading session in almost three weeks after Bloomberg revealed the company’s plans to slow hiring and spending to cope with a potential economic downturn. Yesterday, Meta (previously Facebook) was in the news, with its CEO Mark Zuckerberg stating quite ruthlessly that the company will simply tell all of its employees that it 'does not need' to simply go home.

There are now some commentators who consider that the big tech stocks listed on New York's prominent exchanges have even further to fall.

Apple stock has decreased in value by a remarkable 17% during the course of 2022, and other large software giants and internet stalwarts such as Microsoft and Google (Alphabet) having fallen in value over a sustained period of time.

A point of interest with this otherwise gloomy outlook is that the declining nature of Apple stock is having a bearing on the total value of all big tech stocks.

The spread between the prospective earnings multiples of the S&P 500 Information Technology Sector and the benchmark S&P 500 started this year at the highest it had been since 2004, which is encouraging, and shows that perhaps a few of the giants which have been struggling to keep the value of their shares up have affected the entire outlook for big tech when in reality there are firms doing well.

Overall, however, the differential between the downturn in big tech stock values in New York and other stocks on prominent exchanges elsewhere is interesting.

London's FTSE 100, largely consisting of less tech-focused stocks and more on long-established, age-old blue chip companies in mining, manufacturing, pharmaceuticals, finance, consumer retail and engineering industries, has been stable despite the United Kingdom's economic situation having reached a milestone inflation level which is now at its highest in 40 years.

It is apparent that many investors in the United Kingdom are looking for inflation-busting opportunities, and are taking a cautious approach, especially given that many London listed stocks are valued in Pounds and Pence, and at a time during which the governmental changes are creating uncertainty.

FXOpen Blog (https://fxopen.com/blog/en/big-tech-stock-languishes-whilst-uk-inflation-rampages/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 21, 2022, 04:22:36 PM
ETHUSD and LTCUSD Technical Analysis – 21st JULY, 2022
(https://i.postimg.cc/HLF8nSjx/eth.jpg)

ETHUSD: Hanging Man Pattern Below $1627

Ethereum was unable to sustain its bullish momentum and after touching a high of 1627 on 19th July started to decline against the US dollar coming down below the $1500 handle in the European trading session today.

We can see that ETH is losing ground against the US dollar and no major uptrend formation was seen.

The prices touched an intraday low of $1466 and an intraday high of $1565 in the Asian trading session today.

We can clearly see a hanging man pattern below the $1627 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just above its pivot levels of 1485 and moving into a mildly bearish channel. The price of ETHUSD is now testing its classic support level of 1450 and Fibonacci support level of 1476 after which the path towards 1300 will get cleared.

The relative strength index is at 39 indicating a weak market and the continuation of the downtrend in the markets.

We can see the progression of a bearish trendline formation from $1627 to $1488 which indicates that we are heading towards $1436.

Both the commodity channel index and Williams percent range are indicating a neutral market.

All of the technical indicators are giving a strong sell market signal.

Most of the moving averages are giving a sell signal, and we are now looking at the levels of $1400 to $1350 in the short-term range.

ETH is now trading above both its 100 hourly simple and exponential moving averages.


Ether: Bearish Reversal Seen Below $1627
(https://i.postimg.cc/wvJymhsk/etx.png)

ETHUSD is now moving into a mildly bearish channel with the prices trading below the $1500 handle in the European trading session today.

We have also detected the formation of MA20 and MA50 crossover patterns located at 1529 and 1545 in the hourly time frame indicating that the price is likely to descend below.

We can see that the prices of Ethereum are slowly preparing for moving into a consolidation channel above the $1400 handle.

We can also see the formation of three black crows patterns in the 15-minute time frame indicating the bearish nature of the markets.

In the 2-hour time frame, the super trend indicator is giving bearish reversal signals.

The key support levels to watch are $1385 and $1335, and the prices of ETHUSD need to remain above these levels for any potential bullish reversal in the markets.

ETH has decreased by 2.79% with a price change of 42$ in the past 24hrs and has a trading volume of 23.086 billion USD.

We can see an increase of 2.31% in the total trading volume in the last 24 hrs. which appears to be normal.

The Week Ahead

We can see that ETH failed to clear the resistance zone located at $1650, and with the continued bearish reversal, we are now heading towards the $1400 level.

The prices of Ethereum are preparing to enter into a consolidation phase below the $1500 level and we can see some range-bounded movements between the $1400 and $1500 levels this week.

The immediate short-term outlook for Ether has turned mildly bearish; the medium-term outlook has turned neutral; and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1400 this week.

The weekly outlook is projected at $1550 with a consolidation zone of $1400.

Technical Indicators:

STOCH (9,6): at 22.50 indicating a sell

The moving averages convergence divergence (12,26): at -17.75 indicating a sell

The rate of price change: at -3.93 indicating a sell

The ultimate oscillator: at 46.50 indicating a sell

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-21st-july-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 22, 2022, 09:45:32 AM
Gold Price and Crude Oil Price Aim Fresh Increase
(https://i.postimg.cc/XYbQ55c8/gold.jpg)

Gold price started a major decline below the $1,725 support zone. Crude oil price is attempting a fresh increase from the $88.80 support zone.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price struggled to gain pace above the $1,750 resistance zone against the US Dollar. The price started a fresh decline and traded below the $1,725 pivot level.

There was a clear move below the $1,712 support zone and the 50 hourly simple moving average. The price even traded below the $1,700 level and formed a low near $1,680 on FXOpen. It is now correcting losses above the $1,695 level.

Gold Price Hourly Chart
(https://i.postimg.cc/pLJkJdst/goldx.jpg)

There was a break above a key bearish trend line with resistance near $1,705 on the hourly chart of gold. The price even climbed above the $1,712 level but struggled to clear $1,720.

A high is formed near $1,720 and the price is now consolidating gains. On the downside, an initial support is near the $1,710 level. It is near the 23.6% Fib retracement level of the upward move from the $1,680 swing low to $1,720 high.

The next major support is near the $1,700 level or the 50% Fib retracement level of the upward move from the $1,680 swing low to $1,720 high, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,680 support zone.

On the upside, the price is facing resistance near the $1,720 level. A clear upside break above the $1,720 resistance could send the price towards $1,735. The main resistance is now forming near the $1,750 level. A close above the $1,750 level could open the doors for a steady increase towards $1,780.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/gold-price-and-crude-oil-price-aim-fresh-increase-2/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 23, 2022, 07:54:51 AM
Watch FXOpen's July 18 - 22 Weekly Digest Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/1zzqK4nb/yt01.jpg) (https://youtu.be/SC_md7p-WR4)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 25, 2022, 09:02:35 AM
GBP/USD Faces Resistance And GBP/JPY Is Sliding
(https://i.postimg.cc/Zn9DPXrp/gbp.jpg)

GBP/USD started a recovery wave above the 1.1950 resistance zone. GBP/JPY declined and remains at a risk of more losses below 163.00.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis

This past week, the British Pound found support near the 1.1750 zone against the US Dollar. The GBP/USD pair started a recovery wave and was able to settle above the 1.1850 zone.

There was a steady increase above the 1.1900 zone and the 50 hourly simple moving average. The pair even traded above the 1.2000 resistance zone. However, the bears were active near the 1.2050 and 1.2060 levels.

GBP/USD Hourly Chart
(https://i.postimg.cc/J09YpKqg/gbpx.jpg)

A high was formed near 1.2063 on FXOpen and the pair is now correcting lower. There was a move below the 1.2000 support zone. It even broke the 50% Fib retracement level of the upward move from the 1.1916 swing low to 1.2063 high.

An immediate support is near the 1.1975 and the 50 hourly simple moving average. The next major support is near the 1.1960 level. There is also a major bullish trend line forming with support near 1.1960 on the hourly chart of GBP/USD.

If there is a break below the 1.1960 support, the pair could test the 1.1920 support. Any more losses might send GBP/USD towards 1.1850. On the upside, the pair is facing resistance near the 1.2000 level and the 1.2020.

An upside break above 1.2020 could set the pace for a move towards the 1.2060 resistance zone. The next major resistance sits near the 1.2120 level.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/gbp-usd-faces-resistance-and-gbp-jpy-is-sliding/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 25, 2022, 01:52:07 PM
Oil price bonanza may trigger dividend hike for big firms

(https://i.postimg.cc/PNG7RMHC/oil.jpg)

The incessant increase in the price of oil over recent months has been a moot point for many people, especially those in western countries who are now having to battle with the cost of paying for their domestic heating or the painful cost of buying fuel for their car.

What appeared inconceivable last year when oil prices were very low and had only just begun to recover from the negative equity position that crude oil was in in March 2020, is now a very harsh reality for many domestic and commercial consumers, just as it is for commodities traders who have to make their investment in crude oil work against the backdrop of a surprisingly strong US Dollar.

Currently, the price of oil is still extremely high, with Brent Crude commanding a price of $103 per barrel at July 25, and oil companies are quite simply raking in the profits.

The sanctions which were placed on companies in all sectors of industry based in Russia earlier this year have also had an impact on the price of crude oil, as Russia is an OPEC country and has a vast oil and raw materials industry which exports its products globally.

Once the ability for Russian oil companies to access their settlement payments for oil and gas in Euros or US Dollars via European and North American banks became impossible due to the freezing of those accounts, and Russian oil companies ended up insisting that European and American customers settle their oil and gas purchases in Rubles via Russian banks, the US Dollar became less connected to the commodities settlement business and the ruble shot up, but of course overall demand for oil remained very high.

As a result, the dollar value of oil is still high indeed.

Some of the top international oil majors have already announced expectations of extremely high revenues, especially in their refining divisions, for the second quarter of this year.

A number of analysts expect at least some of them to step up share buybacks and some even to announce an increase in dividends due to record cash flows and record or near-record earnings.

Some Western oil companies are doing very well indeed, as this is a global phenomenon and a global supply and demand issue.

French supermajor TotalEnergies said last week that “Refining & Chemicals results are expected to be exceptional given the very high levels of distillate and gasoline cracks.”

American oil giant ExxonMobil revealed in an SEC filing earlier this month that the rise in industry margins is set to add between $4.4 billion and $4.6 billion to its Q2 results.

At Shell, which recently moved its headquarters from its native Holland to London purely so that it can be in the global trading center for electronic financial services, the refining margin nearly tripled in Q2 compared to Q1 and is expected to add between $800 million and $1.2 billion to the second quarter results of Shell’s Products division compared to the first quarter of 2022.

Therefore, not only are oil stocks in view, but oil prices themselves.

FXOpen Blog (https://fxopen.com/blog/en/oil-price-bonanza-may-trigger-dividend-hike-for-big-firms/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 26, 2022, 02:48:56 PM
Tesla stock has volatile week despite Bitcoin unicorn

(https://i.postimg.cc/hvS0YtFW/tsla-btc.jpg)

Tesla has been known for as long as it has been in existence as a disruptor of its sector.

Its founder, Elon Musk, is a maverick and a free thinker and has risen to prominence as one of the world's richest men via his methodology of disregarding the well-trodden path and finding ways to reinvent it.

Thus, Elon Musk's influential interest in cryptocurrency has been a well-covered subject over the past year and a half, and his own advocacy of cryptocurrencies ranging from Bitcoin to oddball meme currencies such as Dogecoin has been high profile.

It is fair to say that Elon Musk's interest in cryptocurrency is not just an interest, it positions him as an influencer.

In May 2021, he was responsible for crashing the value of five popular cryptocurrencies by over $700 million, and then partially responsible for causing them to rise to a higher value than before his infamous Twitter post-orientated tumble.

It is therefore fitting that Elon Musk would bring cryptocurrency investment into his commercial portfolio, which he did with Tesla.

By the end of last year, Tesla could lay claim to being the most influential disrupting force in the automotive industry, as well as the only large cap publicly listed corporation which is a Bitcoin whale.

A Bitcoin whale is an entity or person which holds enough Bitcoin to be able to influence the market.

Now, as Tesla remains a major market force and all of the traditional car manufacturers have been rallying to make electric vehicles after over 100 years of not even considering moving away from internal combustion, and as a recent SEC filing showed that the company has made $64 million in gains from bitcoin sales, its own stock is volatile to say the least.

This week, prices are down to $804 per share after a rally last week.

Whether investors in high market cap publicly listed companies are still relatively conservative and don't favor risky and avantgarde strategies such as the Bitcoin trading activities of Tesla is perhaps a matter for discussion, but despite these crypto-fueled gains being made public information, the value of Tesla stock has been declining during the course of this week.

On Friday last week, Tesla stock was trading at $840 per share, so today's $804 is a definitive downturn.

Elon Musk, who is openly pro-free market, and has objected to government lockdowns across Europe and America has this week stated that Tesla’s factories in Germany and Texas are losing billions of dollars as supply-chain snags and battery-cell manufacturing hurdles limit production caused by the draconian lockdowns in 2020 and 2021.

Clearly, regardless of how well capitalized and how much of a market icon Tesla is, foresight, innovation and disruption still equals volatility.

FXOpen Blog (https://fxopen.com/blog/en/tesla-stock-has-volatile-week-despite-bitcoin-unicorn/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 26, 2022, 05:16:15 PM
BTCUSD and XRPUSD Technical Analysis – 26th JULY 2022
(https://i.postimg.cc/cLTHwbbX/btc.jpg)

BTCUSD: Bearish Engulfing Pattern Below $24262

Bitcoin was unable to sustain its bullish momentum and after touching a high of 24195 on 20th July started to decline against the US dollar dropping below the $21500 handle in the European trading session today.

We can see that after this decline the prices have entered into a consolidation zone above the $21000 handle.

The drop in the prices of bitcoin comes just before the upcoming US Federal Reserve FOMC meeting, which is expected to raise the interest rates by 75 basis points.

We can clearly see a bearish engulfing pattern below the $24262 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 22248 in the Asian trading session and an intraday low of 20928 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 29 indicating a weaker demand for bitcoin at the current market level and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and 200 hourly simple moving averages.

Most of the major technical indicators are giving a strong sell signal, which means that in the immediate short term, we are expecting targets of 20500 and 20000.

The average true range is indicating less market volatility with a bearish momentum.


Bitcoin: Bearish Reversal Seen Below $24262
(https://i.postimg.cc/vmBmzvRM/btcx.png)

The price of bitcoin continues to decline below the $22000 handle, and we are now testing the important support level of $20000 in the European trading session.

The global sentiments have changed in the wake of the US Fed interest rate decision and its impact on the cryptocurrency markets worldwide.

We can see the formation of a falling trend channel, and now we are facing the immediate targets of $20500 and $20100.

Bitcoin was unable to clear its resistance zone located at $25000, and we can see a progression of the bearish bias in the markets.

The ultimate oscillator is indicating a neutral market, and the prices can also stage an upwards correction from these levels if the bearish trend gets exhausted.

The immediate short-term outlook for bitcoin is bearish; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $20000, and the prices continue to remain above these levels for any potential bullish reversal in the markets.

The price of BTCUSD is now facing its classic support level of 20902, and Fibonacci resistance levels of 21034, after which the path towards 20000 will get cleared.

In the last 24hrs, BTCUSD has declined by 4.19% by 922 and has a 24hr trading volume of USD 37.899 billion. We can see an increase of 33.97% in the trading volume as compared to yesterday, which is due to the selling seen by the short-term investors.

The Week Ahead

The price of bitcoin is moving in a mildly bearish momentum, and the immediate targets are $20500 and $20000

The daily RSI is printing at 44 which means that the medium range demand continues to remain weak.

The trendline formation is seen from the $24000 level towards the $21000, indicating that if this bearish trend line gets exhausted, we may see an upwards correction in the prices.

Bitcoin prices may continue to remain in a range-bound movement between the $20000 and $22000 levels this week.

The price of BTCUSD will need to remain above the important support levels of $20000 this week.

The weekly outlook is projected at $21500 with a consolidation zone of $20500.

Technical Indicators:

The average directional change (14 days): at 43.57 indicating a NEUTRAL

The rate of price change: at -3.78 indicating a SELL

The relative strength index (14): at 29.67 indicating a SELL

The commodity channel index (14 days): at -59.39 indicating a SELL

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-26th-july-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 27, 2022, 07:20:41 AM
EUR/USD and EUR/JPY Attempt Recovery Wave
(https://i.postimg.cc/jjQdy1w2/eur.jpg)

EUR/USD started a fresh decline and traded below 1.0150. EUR/JPY is attempting a recovery wave and might rise if it clears 139.50.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis

The Euro failed to clear the 1.0280 resistance against the US Dollar. The EUR/USD pair started a major decline below the 1.0220 and 1.0200 support levels.

There was a clear move below the 1.0150 level and the 50 hourly simple moving average. The pair even settled below the 1.0180 level. A low was formed near 1.0107 on FXOpen and the pair is now consolidating losses.

EUR/USD Hourly Chart
(https://i.postimg.cc/QCV8Gx6K/eurx.jpg)

The pair climbed above the 23.6% Fib retracement level of the downward move from the 1.0250 swing high to 1.0107 low. On the upside, the pair is facing resistance near the 1.0145 level.

There is also a short-term contracting triangle forming with resistance near 1.0145 on the hourly chart. A clear move above the triangle resistance might send the price towards 1.0165. The next major resistance is near the 1.0180 level.

It is near the 50% Fib retracement level of the downward move from the 1.0250 swing high to 1.0107 low. If the bulls remain in action, the pair could revisit the 1.0250 resistance zone in the near term.

On the downside, the pair might find support near the 1.0120 level. The next major support sits near the 1.0100 level. If there is a downside break below the 1.0100 support, the pair might accelerate lower in the coming sessions.

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/eur-usd-and-eur-jpy-attempt-recovery-wave/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 28, 2022, 05:44:34 PM
ETHUSD and LTCUSD Technical Analysis – 28th JULY, 2022
(https://i.postimg.cc/13DLjwBn/eth.jpg)

ETHUSD: Bullish Engulfing Pattern Above $1357

Ethereum was unable to sustain its bullish momentum and after touching a high of 1661 on 25th July started to decline against the US dollar coming down below the $1400 handle on 26th July.

We saw that after this decline, the prices started to stabilize above the $1350 handle, and then a pullback action was seen in the markets.

The prices started a bullish reversal which continues pushing the prices of Ethereum above the $1600 handle in the European trading session today.

We can clearly see a bullish engulfing pattern above the $1357 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1622 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1629 and Fibonacci resistance level of 1634 after which the path towards 1700 will get cleared.

The relative strength index is at 62 indicating a strong market and the continuation of the uptrend in the markets.

We can see the progression of a bullish ascending trendline formation from $1357 to $1690, which indicates that we are heading towards $1700.

Both the commodity channel index and highs/lows are indicating a neutral market.

Some of the technical indicators are giving a buy market signal.

Most of the moving averages are giving a buy signal, and we are now looking at the levels of $1700 to $1850 in the short-term range.

ETH is now trading above both its 100 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1357
(https://i.postimg.cc/SKqwFR1Z/etx.png)

ETHUSD is now moving into a mildly bullish channel with the prices trading above the $1600 handle in the European trading session today.

We have also detected the formation of MA5 and MA10 crossover patterns located at 1630 and 1632 in the hourly time frame indicating that the price is likely to descend below after touching these levels in the short-term range.

We can see that the prices of Ethereum are slowly preparing for moving into a consolidation channel above the $1600 handle.

We can also see the formation of a bullish harami pattern in the 2-hour time frame indicating the bullish nature of the markets.

We can also witness the parabolic SAR bullish reversal in the daily timeframe, so the immediate targets visible now are $1650.

The key support levels to watch are $1500 and $1584, and the prices of ETHUSD need to remain above these levels for the continuation of the bullish trend.

ETH has increased by 10.64% with a price change of 155$ in the past 24hrs and has a trading volume of 25.107 billion USD.

We can see an increase of 43.29% in the total trading volume in the last 24 hrs which is due to the buying seen at lower levels.

The Week Ahead

We can see that ETH is now making attempts to clear the resistance zone located at $1650, and with the continued bullish tendency, we are now heading towards the $1700 level.

The price of Ethereum is preparing to enter into a consolidation phase above the $1600 levels and we can see some range-bounded movements between the $1500 and $1700 levels this week.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The prices of ETHUSD will need to remain above the important support levels of $1500 this week.

The weekly outlook is projected at $1750 with a consolidation zone of $1600.

Technical Indicators:

The relative strength index (14): at 62.09 indicating a BUY

The moving averages convergence divergence (12,26): at 41.18 indicating a BUY

The rate of price change: at 1.92 indicating a BUY

Bull/Bear power(13): at 23.28 indicating a BUY

Read Full on FXOpen Company Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-28th-july-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 29, 2022, 07:44:45 AM
AUD/USD and NZD/USD Eye Additional Gains
(https://i.postimg.cc/Qdthv4QM/aud.jpg)

AUD/USD is gaining pace above the 0.6950 resistance. NZD/USD is also eyeing a key upside break above the 0.6300 resistance.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis

The Aussie Dollar formed a base above the 0.6820 and 0.6850 levels against the US Dollar. The AUD/USD pair started a steady increase after it cleared the 0.6900 resistance zone.

There was a clear move above the 0.6950 resistance and the 50 hourly simple moving average. The pair even broke the 0.7000 barrier and traded as high as 0.7014 on FXOpen. Recently, there was a minor downside correction below the 0.7000 level.

AUD/USD Hourly Chart
(https://i.postimg.cc/Z5M4m8Hx/audx.jpg)

The pair dipped below the 38.2% Fib retracement level of the upward move from the 0.6912 swing low to 0.7014 high. However, the pair stayed above the 0.6960 level and the 50 hourly simple moving average.

The 50% Fib retracement level of the upward move from the 0.6912 swing low to 0.7014 high also acted as a support. The pair is now rising and trading near 0.7000.

On the upside, the AUD/USD pair is facing resistance near the 0.7000 level. The next major resistance is near the 0.7020 level. A close above the 0.7020 level could start a steady increase in the near term. The next major resistance could be 0.7080.

On the downside, an initial support is near the 0.6970 level. The next support could be the 0.6950 level. There is also a key bullish trend line forming with support near 0.6955 on the hourly chart of AUD/USD. If there is a downside break below the 0.6950 support, the pair could extend its decline towards the 0.6880 level.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/aud-usd-and-nzd-usd-eye-additional-gains/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 01, 2022, 10:40:45 AM
GBP/USD Eyes More Gains, EUR/GBP Could Correct Higher
(https://i.postimg.cc/J7b5FdYm/gbp.jpg)

GBP/USD started a fresh increase above the 1.2000 zone. EUR/GBP might attempt a recovery wave if it clears the 0.8430 resistance.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound formed base above the 1.1850 and 1.1880 levels against the US Dollar. The GBP/USD pair started a fresh increase after it clearly broke the 1.2000 resistance.

There was a steady move above the 1.2050 level and the 50 hourly simple moving average. The bulls even pumped the pair above the 1.2120 level. A high was formed near 1.2245 on FXOpen the pair is now consolidating gains.

GBP/USD Hourly Chart
(https://i.postimg.cc/7YwnrMjz/gbpx.jpg)

There was a minor decline below 1.2120, but the bulls were active near 1.2065. There is also a key bullish trend line forming with support near 1.2120 on the hourly chart of GBP/USD.

The pair is now rising and broke the 50% Fib retracement level of the downward move from the 1.2245 swing high to 1.2064 low. There was a steady increase above the 1.2150 level and the 50 hourly simple moving average.

On the upside, an initial resistance is near the 1.2195 level. The next main resistance is near the 1.2200 zone. It is near the 76.4% Fib retracement level of the downward move from the 1.2245 swing high to 1.2064 low.

A clear upside break above the 1.2200 and 1.2210 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2250 level.

If not, the pair might start a fresh decline below 1.2150. The next major support is near the 1.2120 level. Any more losses could lead the pair towards the 1.2065 support zone or even 1.2000.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 03, 2022, 02:06:13 AM
BTCUSD and XRPUSD Technical Analysis – 02nd AUG 2022
(https://i.postimg.cc/Rhz292gj/btc.jpg)

BTCUSD: Evening Star Pattern Below $24607

Bitcoin was unable to sustain its bullish momentum and after touching a high of 24597 on 30th July started to decline against the US dollar dropping below the $2300 handle in the European trading session today.

We can see that after this decline the prices have entered into a consolidation zone above the $22500 handle.

The prices have started to move in a descending trend channel due to the decrease in the demand and the continued selling across the global crypto markets.

We can clearly see a bearish evening star pattern below the $24607 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 23438 in the Asian trading session and an intraday low of 22670 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 37 indicating a weaker demand for bitcoin at the current market levels and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and its 200 hourly simple moving averages.

Most of the major technical indicators are giving a strong sell signal, which means that in the immediate short term, we are expecting targets of 22000 and 21500.

The average true range is indicating lesser market volatility with a bearish momentum.


Bitcoin: Bearish Reversal Seen Below $24607
(https://i.postimg.cc/y8vKj6LW/btcx.png)

The price of bitcoin continues to decline below the $23000 handle, and we are now testing the important support level of $22000 in the European trading session.

The global sentiments continue to remain weak and we can see more downwards correction this week towards the $21500 level.

Bitcoin was unable to clear its resistance zone located at $25000, and now we can see a progression of the bearish bias in the markets.

We can see the formation of a bearish harami pattern in the weekly time frame indicating the underlying bearish nature of the markets.

The immediate short-term outlook for bitcoin is bearish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $21000, and the prices continue to remain above these levels for any potential bullish reversal in the markets.

The price of BTCUSD is now facing its classic support level of 22500 and Fibonacci resistance levels of 22687 after which the path towards 2000 will get cleared.

In the last 24hrs, BTCUSD has declined by 1.70% by 394$, and has a 24hr trading volume of USD 27.922 billion. We can see an increase of 20.09% in the trading volume as compared to yesterday, which is due to the selling seen by the short-term investors.

The Week Ahead

The price of bitcoin is moving in a mildly bearish momentum, and the immediate targets are $22000 and $21500

The daily RSI is printing at 52 which indicates a neutral market and the move towards the consolidation channel.

The trendline formation is seen from the $24600 level towards $22600 indicating that if this bearish trend line gets exhausted, we may see an upwards correction in the prices.

Bitcoin’s price may continue to remain in a range-bound movement between the $22000 and $23000 levels this week.

The prices of BTCUSD will need to remain above the important support level of $21000 this week.

The weekly outlook is projected at $22000 with a consolidation zone of $21000.

Technical Indicators:

The average directional change (14 days): at 27.18 indicating a SELL

The rate of price change: at -1.38 indicating a SELL

The relative strength index (14): at 38.82 indicating a SELL

The commodity channel index (14 days): at -91.53 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 03, 2022, 08:48:01 AM
EUR/USD and USD/JPY At Risk of Additional Losses
(https://i.postimg.cc/prrNM5Yh/eur.jpg)

EUR/USD started another decline from the 1.0300 resistance. USD/JPY is declining and might continue to move down below 137.00.

Important Takeaways for EUR/USD and USD/JPY


EUR/USD Technical Analysis

This week, the Euro started a fresh decline from well above the 1.0280 level against the US Dollar. The EUR/USD pair declined below the 1.0250 and 1.0220 support levels.

The bears even pushed the pair below the 1.0200 level. There was a close below 1.0200 and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.0097 swing low to 1.0293 high.

EUR/USD Hourly Chart
(https://i.postimg.cc/d3xbsQ4W/eurx.jpg)

Besides, there was a break below a key bullish trend line with support near 1.0205 on the hourly chart of EUR/USD. An immediate resistance on the upside is near the 1.0200 level.

The next major resistance is near the 1.0225 level and the 50 hourly simple moving average. An upside break above 1.0225 could set the pace for a steady increase. In the stated case, the pair might revisit 1.0280.

If not, the pair might drop and test the 1.0165 support. The next major support is near 1.0145 or the 76.4% Fib retracement level of the upward move from the 1.0097 swing low to 1.0293 high, below which the pair could drop to 1.0100 in the near term.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 03, 2022, 03:43:23 PM
Turkish Lira crisis hits corporate borrowers
(https://i.postimg.cc/Qtz7cdkG/try.jpg)

The ongoing crisis that has been affecting the Turkish Lira for several months is showing no sign of giving way, and the country's astonishing inflation rate of over 70% is testimony to the dire situation that the nation's economy is facing.

Turkey is an industrial and commercial powerhouse in the Middle East, and is home to the most developed and diversified industry base in the region, however whilst the productivity and quality of product are both high, and the work ethic is still being clearly demonstrated in a nation which has been open for business during times when others were less so, the Lira and its inflationary backdrop are a massive bugbear.

The US Dollar, along with all other major currencies, has continued to rise significantly against the Turkish Lira, and today's value for the USDTRY is 17.94.

Turkish companies which conduct business on an international basis have been faced with the volatility of Forex transactions when settling accounts with their partners and clients, and the continued decline in value of the Turkish Lira has landed them with a conundrum.

Yesterday the Turkish media reported that companies are borrowing in Lira partly to pay off their debts in foreign currency, and many companies in Turkey have used an average of around 30 Lira out of every 100 Lira borrowed from banks to settle their debts in US Dollars and Euros.

The sustained losses that the Turkish Lira has made against all major currencies over the past year has caused a dramatic increase in servicing the repayments of foreign debt for Turkish businesses, and this is how it is being addressed.

At the end of June, the Turkish government announced a ban on loans in Lira to companies holding what it deemed to be too much foreign currency.

This caused the Lira to whipsaw, a term referring to price movements in a volatile market when a stock or currency price will suddenly switch direction.

By June 27 the Lira made an unusual gain of approximately 8% gain in two days, trading at 16.01 to the US Dollar, up from the day before the announcement where it closed at 17.35.

But by late afternoon on the following Monday, it had pared some of those gains, decreasing slightly to 16.5 against the dollar, after whipsawing within the 16 to 17 lira per dollar range.

Clearly volatility is still rampant, however the switch toward using Lira to repay debt in overseas currencies could be a potential method of circulating the Lira more vigorously which may go some way toward helping it slow its downward spiral.

Currently, however, it is an uncertain market with an almost year-long record of a downward spiral.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 04, 2022, 05:19:13 PM
ETHUSD and LTCUSD Technical Analysis – 04th AUG, 2022
(https://i.postimg.cc/HLF8nSjx/eth.jpg)

ETHUSD – Three Inside Down Pattern Below $1783

Ethereum was unable to sustain its bullish momentum and after touching a high of 1762 on 30th July started to decline against the US Dollar coming down below the $1600 handle on 02nd Aug.
The selloff that we saw was due to the strength of the US Dollar and its subsequent effect on the prices of the ETHUSD.
We can clearly see a Three Inside Down Pattern Below the $1783 handle which is a Bearish pattern and signifies the end of a Bullish phase and the start of a Bearish phase in the markets.
ETH is now trading just above its Pivot levels of 1619 and is moving into a Mild Bearish channel. The price of ETHUSD is now testing its Classic support levels of 1591 and Fibonacci support levels of 1612 after which the path towards 1600 will get cleared.

Relative Strength Index is at 40 indicating a WEAK market and the continuation of the Downtrend in the markets.
We can see that Aroon Indicator is giving the Bearish signal in the 2 hourly timeframe.
Both the STOCHRSI and Williams Percent Range are indicating an Oversold market, which means that the prices are due for an Upwards correction.
All of the Technical indicators are giving a STRONG SELL market Signal.
All of the Moving Averages are giving a STRONG SELL Signal and we are now looking at the levels of $1600 to $1550 in the short-term range.
ETH is now trading Below its both the 100 Hourly Simple and Exponential Moving Averages.

•   Ether Bearish Reversal seen Below the $1783 mark.
•   Short-term range appears to be Mild BEARISH.
•   ETH continues to remain above the $1600 levels.
•   Average True Range is indicating LESS Market Volatility.

Ether Bearish Reversal Seen Below $1783
(https://i.postimg.cc/DzJ4MxS9/ETHUSDH1.png)
 
ETHUSD is now moving into a Mild Bearish Channel with the prices trading above the $1600 handle in the European Trading session today.
We have also detected the formation of the Adaptive Moving Average 20 and 50 Crossover pattern in the 2 hourly time-frame indicating that the price is likely to descend in the short-term range.
We can see the formation of a Major contraction triangle below the $1700 levels in the 1-hour timeframe.

The key support levels to watch are $1595 and $1506 and the prices of ETHUSD need to remain above these levels for any potential Bullish reversal in the markets.

ETH has decreased by 1.93% with a price change of 31$ in the past 24hrs and has a trading volume of 15.964 Billion USD.
We can see a Decrease of 14.86% in the total trading volume in last 24 hrs. which appears to be Normal.
 

The Week Ahead

We can see that ETH failed to clear its Major resistance zone located at $1800 levels and is now preparing to enter into a consolidation phase above the $1600 levels.
The prices of Ethereum are slowly recovering against the US Dollar and we can see some range bound moves in the short-term range.
The immediate short-term outlook for the Ether has turned as Mild BEARISH, the medium-term outlook remains NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.
The prices of ETHUSD will need to remain above the important support levels of $1500 this week.
Weekly outlook is projected at $1650 with a consolidation zone of $1500.

Technical Indicators:

Relative Strength Index (14): It is at 40.99 indicating a SELL.
Moving Averages Convergence Divergence (12,26): It is at -1.66 indicating a SELL.
Rate of Price Change: It is at -2.17 indicating a SELL.
Ultimate Oscillator: It is at 31.86 indicating a SELL.


VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 05, 2022, 09:50:50 AM
Gold Price Rallies While Crude Oil Price Takes Hit
(https://i.postimg.cc/WpypVddQ/gold.jpg)

Gold price started a fresh increase above the $1,750 resistance zone. Crude oil price is sliding and remains at a risk of more losses below $90.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price formed a base above the $1,700 level and started a fresh increase against the US Dollar. The price broke the $1,720 resistance to move into a positive zone.

There was a clear move above the $1,750 resistance and the 50 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near $1,762 on the hourly chart of gold.

The price traded as high as $1,794 on FXOpen and the price is now consolidating gains. An immediate support on the downside is near the $1,788 level.

The price even traded below the $1,700 level and formed a low near $1,680 on FXOpen. It is now correcting losses above the $1,695 level. On the downside, an initial support is near the $1,785 level. It is near the 23.6% Fib retracement level of the upward move from the $1,754 swing low to $1,794 high.

The next major support is near the $1,774 level or the 50% Fib retracement level of the upward move from the $1,754 swing low to $1,794 high, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,750 support zone.

On the upside, the price is facing resistance near the $1,795 level. A clear upside break above the $1,795 resistance could send the price towards $1,812. The main resistance is now forming near the $1,820 level. A close above the $1,820 level could open the doors for a steady increase towards $1,840.


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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 06, 2022, 10:36:08 AM
FXOpen’s TOP-10 July 2022 PAMM Accounts
(https://i.postimg.cc/yxf15ZTL/july-en-1.jpg)

The better part of the summer has already passed, but the PAMM trading process goes non-stop, delighting investors with new positive results. We would like to focus on those accounts that are still stable and profitable for their subscribers.

As of August 1, 2022, 141 active accounts have been opened at FXOpen, and 2’427’960.00 USD of subscribers’ funds have been invested, according to Investflow monitoring statistics.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 09, 2022, 07:12:55 AM
GBP/USD Faces Resistance While USD/CAD Is Surging
(https://i.postimg.cc/zffGc7KL/gbp.jpg)

GBP/USD could gain pace if it clears the 1.2100 resistance zone. USD/CAD is surging and could continue to rise above the 1.3000 resistance zone.

Important Takeaways for GBP/USD and USD/CAD


GBP/USD Technical Analysis
(https://i.postimg.cc/N0PjqXkd/gbpx.png)

After facing sellers near 1.2280, the British Pound started a fresh decline against the US Dollar. GBP/USD declined heavily below the 1.2200 support zone.

There was a move below the 1.2100 support zone and the 50 hourly simple moving average. The pair traded as low as 1.2004 and is currently correcting higher. There was a clear move above the 1.2030 resistance zone.

The pair climbed above the 23.6% Fib retracement level of the downward move from the 1.2168 swing high to 1.2004 low. An immediate resistance is near the 1.2080 level.

There is also a key bearish trend line forming with resistance near 1.2100 on the hourly chart of GBP/USD. The next key resistance is near the 1.2105 level. It is near the 50% Fib retracement level of the downward move from the 1.2168 swing high to 1.2004 low.

If there is an upside break above the 1.2100 zone, the pair could rise towards 1.2150. The next key resistance could be 1.2200, above which the pair could gain strength.

On the downside, an initial support is near the 1.2040 area. The first major support is near the 1.2000 level. If there is a break below 1.2000, the pair could extend its decline. The next key support is near the 1.1960 level. Any more losses might call for a test of the 1.1850 support.


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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 09, 2022, 09:45:29 AM
The Roaring 20s! How trading the markets has advanced in just a few years
(https://i.postimg.cc/3Jxk03b5/markets.jpg)

The 2020s is an exciting time to be trading the global markets.

In the previous decade, the electronic markets went through a revolutionary period. We witnessed the invention and uprising of cryptocurrencies, the 'influencer' generation beginning to move into the financial markets with memes and internet-based trends, and we saw the entire existing framework change in dramatic restructures in the trading methods of financial products traded on the electronic markets in the wake of the 2008/2009 financial crises.

European and American authorities began to make major changes which have fomented the sustainability of the electronic derivatives trading markets where traditional asset classes such as Forex, commodities and equities are concerned, and a whole host of decentralized asset classes have joined them along the way.

As the last exciting decade of revolutionary technological and regulatory development came to an end, the 2020s became a period of limitless innovation, in which FinTech, cryptocurrency and multi-asset trading has been embraced.

Along with the community-driven cryptocurrency revolution and its entry into the mainstream, came various geopolitical milestones that are unprecedented.
(https://i.postimg.cc/LXFqJfGN/2x-info1.jpg)

Lockdowns, inflation and a volatile commodities market, as well as a myriad of new traders who had switched their ambitions from working for a company prior to the lockdowns to seeking their own financial independence from the convenience of their own laptop or smartphone by trading the markets. We have entered the age of the analytical, pragmatic and goal-orientated trader.

Despite the cryptocurrency revolution and the massive number of people getting involved in investing in Bitcoin, Ethereum and all manner of new native tokens that are now hot property, the commodities market is the hot topic of the decade, and to be more specific: Oil.

Just as the oil market is as traditional as the actual fossil fuel itself, the modern stock market is the absolute opposite! A new era has come about, born out of the minds of mavericks and entrepreneurs seeking to build a community-driven marketplace where influencers are beginning to become market makers in their own right.
(https://i.postimg.cc/90Jzgk0n/info2-2-1.jpg)

The ever-changing and ever increasingly innovative markets are at your fingertips. These are the times when your financial destiny is in your hands.

FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 09, 2022, 03:54:42 PM
BTCUSD and XRPUSD Technical Analysis – 09th AUG 2022
(https://i.postimg.cc/YSw5GDXT/btc.jpg)

BTCUSD: Bullish Engulfing Pattern Above $22425

Bitcoin was unable to sustain its bearish momentum and after touching a low of 22431 on 04th Aug started to correct upwards against the US dollar crossing the $24000 handle on 08th Aug.

We can see that bitcoin failed to clear its resistance zone located at $25000 for the second time this month.

After touching a high of $24230 we can see some downwards correction in the prices towards the $23800 level.

We can clearly see a bullish engulfing pattern above the $22425 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 23922 in the Asian trading session and an intraday low of 23639 in the Asian trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 50 indicating a NEUTRAL demand for bitcoin at the current market levels and the continuation of the consolidation phase in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and its 200 hourly simple moving averages.

Some of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 24000 and 24500.

The average true range is indicating less market volatility with a mildly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $22425
(https://i.postimg.cc/nhq5JYH2/btcx.png)

The price of bitcoin is struggling to move above the $24000 handle after it entered into a consolidation zone below the $24000 level.

The overall scenario of the markets is neutral at present; we will have to wait till some clear signals emerge for the medium-term range.

We can see that Ichimoku price is under the cloud in the 15-minute time frame indicating the underlying bearish nature of the markets.

The immediate short-term outlook for bitcoin is neutral; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $22000 and the prices continue to remain above these levels for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 23899 and Fibonacci resistance level of 23932 after which the path towards 24000 will get cleared.

In the last 24hrs, BTCUSD has declined by 0.32% by 76$ and has a 24hr trading volume of USD 28.827 billion. We can see an increase of 50.20% in the trading volume as compared to yesterday, which is due to the buying seen by the short-term investors.

The Week Ahead

The price of bitcoin is moving in a consolidation zone under the $24000 level. The price is expected to remain moving into a narrow range between the $23000 and $24000 before any potential breakouts.

The daily RSI is printing at 59 which indicates a bullish market and the move towards the $25000 level.

The trendline formation is seen from the $22400 levels towards the $24000, and we are now looking for the continuation of this trend in the hourly time frame.

The price of BTCUSD will need to remain above the important support level of $22000 this week.

The weekly outlook is projected at $24000 with a consolidation zone of $23000.

Technical Indicators:

The average directional change (14 days): at 15.10 indicating a neutral

The ultimate oscillator: at 68.29 indicating a BUY

The relative strength index (14): at 52.53 indicating a neutral

The commodity channel index (14 days): at -19.17 indicating a neutral

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-09th-aug-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 10, 2022, 09:27:21 AM
Inflation in the UK: Cash withdrawals indicate faith in pound but not in economy
(https://i.postimg.cc/3xHb77xG/inflation.jpg)


Throughout post-industrial history, when economic woes are abound, a large proportion of the public tend to revert to reliance on carrying items of physical value.

For the past two years, national economies in many Western nations have been turned on their heads, and faith in the traditional economic system has waned dramatically.

During times of rising inflation, it has been common for many people to invest in physical commodities such as gold, and to keep liquid assets at home or on their person.

Throughout many periods in the 20th century, that has been the case. The Great Depression which began in the late 1920s in the United States, the aftermath of World War Two in Europe, and the end of the Cold War in the late 1980s are three notable examples.

During those events, people who had a lot to lose generally bought gold and kept it in a safe place, often under their homes or in the walls.

The long period of stability which ensued has not necessitated such action, however these days, there are many geopolitical events that have once again generated a wave of instability, and have caused a once-trusting population to distrust the government and the system in many countries worldwide.

Inflation which is at 40-year highs in parts of Europe and the United States, along with forced closures of businesses, interruption of supply chains and siding with Ukraine which has caused havoc on the energy markets and cast doubt into the minds of citizens that their own governments actually represent their wellbeing has brought into being an overall level of self-reliance and movement away from trust in the existing economic structure.

The British Pound and its standing as a store of value is very interesting over recent times.

For over 50 years, no currency in the world has been backed by commodities, therefore it has been rare for any currency to be used as a store of value in times of economic uncertainty, but the British Pound is showing signs of being used as exactly that!

The Post Office, which offers banking services as well as mail has recorded a significant upturn in the number of cash withdrawals recently.

It is possible to withdraw cash from any bank account held with any bank via the Post Office, and therefore this is a good measure of the overall behavior of the public with regard to withdrawals of cash.

Britain’s Post Office, which offers banking services as well as mail, handled a record £801 million ($967 million) in personal cash withdrawals in July.

In total, more than £3.3 billion in cash was withdrawn and deposited over the Post Office’s counters, which the first time the amount has crossed the £3.3 billion threshold in the entire 360 years that the Post Office has been established.

Personal cash withdrawals were up almost 8% month on month at £744 in June, and up over 20% from a year ago to £665 million in July.

The Bank of England expects inflation to be at around 13.3% in October and to remain at elevated levels throughout much of 2023, which is alarming to say the least.

Resorting to holding cash appears to be a method being used to attempt to budget more carefully during these times of high inflation, and the Post Office has also been processing government support for energy bills, an indicator that there are serious problems affording daily bills.

The British Pound remains relatively non-volatile, and certainly it will be interesting to see how long this trend lasts during a period at which many firms are attempting to do away with the use of cash entirely.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 10, 2022, 02:12:03 PM
EUR/USD Aims Upside Break While USD/CHF Signals More Downsides
(https://i.postimg.cc/jdLtHK1p/eurusd.jpg)

EUR/USD is struggling to clear the 1.0250 resistance zone. USD/CHF is declining and remains at a risk of a more losses below the 0.9520 level.

Important Takeaways for EUR/USD and USD/CHF


EUR/USD Technical Analysis
(https://i.postimg.cc/8c38KJYq/eurusdx.jpg)

This past week, the Euro struggled to gain pace for a move above the 1.0250 level against the US Dollar. The EUR/USD pair formed a short-term top and reacted to the downside.

There was a break below the 1.0200 support, but the bulls were active near the 1.0150 level. A low was formed near 1.0141 on FXOpen and the pair is now recovering higher. There was a move above the 1.0180 resistance zone.

The pair climbed above the 1.0200 level and the 50 hourly simple moving average. The pair traded above the 50% Fib retracement level of the downward move from the 1.0253 swing high to 1.0141 low.

It is now trading above the 61.8% Fib retracement level of the downward move from the 1.0253 swing high to 1.0141 low. An immediate resistance is near the 1.0240 level. The next major resistance is near the 1.0250 level.

A clear move above the 1.0250 resistance zone could set the pace for a larger increase towards 1.0320. The next major resistance is near the 1.0350 zone.

On the downside, an immediate support is near the 1.0200 level. There is also a key bullish trend line forming with support near 1.0200 on the hourly chart of EUR/USD. The next major support is near the 1.0150 level. A downside break below the 1.0150 support could start another decline.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 11, 2022, 05:15:00 AM
The end of the road for computer hardware as US indices dive
(https://i.postimg.cc/wjjfyTbN/gtx.jpg)

Those who have worked within any large company in a technical capacity will likely recall the sudden way in which computer hardware simply disappeared seamingly overnight.

Back in the 1990s, huge server farms and arrays of switches adorned massive rooms in most offices worldwide, and stacks of beige plastic desktop PCs whirred away all day.

Cabling was everywhere, and lights flashed as data was carried around the office, and IT professionals observed and controlled these gargantuan operations.

Suddenly, around 15 years ago, it all disappeared.

Server rooms gave way to open spaces and coffee machines, and suddenly the office space business grew toward coworker spaces and remote work.

The old beige stacks of in-house computers were gone, and cloud computing was in vogue.

What's that got to do with the stock market?

Well, quite a lot.

The computer hardware industry has long since disappeared from the top stocks, largely due to the aforementioned cloud computing revolution, but there has been one hardware type that has endured. Graphics cards.

NVIDIA, a publicly-listed American giant which manufactures graphics cards has been the final enduring stock on the blue-chip indices, and has been doing very well until now.

That's because graphics cards are used in cryptocurrency mining, and the vast, industrial-scale Chinese Bitcoin mining rigs which existed in mainland China until last year were using them en masse.

Suddenly, the Chinese government swept in and put an end to the use of cheap (and sometimes free) electricity that the commercial miners in China had been using and banned their operations in mid 2021.

Some operators moved their mining rigs outside China to regions with cheap or free electricity such as Kazakhstan or Armenia, but many gave up and moved on.

Since the cost of electricity in many other countries outweighs the potential gains made by Bitcoin mining, graphics card usage has declined and therefore NVIDIA stock has been volatile.

Right now, its earnings season, and NVIDIA has been in the news for having shown concern about its forthcoming earnings, given that the Bitcoin mining-related demand for graphics cards is down.

During the course of yesterday, the S&P 500 slid 0.4% and the Dow Jones Industrial Average fell 0.2%. The tech-heavy Nasdaq Composite lost 1.2%, closing down for a third consecutive day. Chip stocks are taking a beating after Micron Technology and Nvidia issued revenue warnings, dragging down the overall market with them.

It is perhaps a sign of the times, a sign that the final bastion of hardware-based computer science is coming to its nadir, but also a sign that modern innovation is once again on the march and as gas fees for other cryptocurrencies such as Ethereum will likely decrease, mining and the use of such tokens for other purposes such as smart contracts is the way of the future, all of which of course aim to further the cause of paperless and hardware-free lifestyle and business operations.

Onwards and upwards.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 11, 2022, 05:04:43 PM
ETHUSD and LTCUSD Technical Analysis – 11th AUG, 2022
(https://i.postimg.cc/Bnz1tzrL/eth.jpg)

ETHUSD: Double Bottom Pattern Above $1580

Ethereum was unable to sustain its bearish momentum and after touching a low of 1584 on 04th Aug started to correct upwards against the US dollar crossing the $1800 handle in the European trading session today.

We can see a continuous uptick in the prices of Ethereum due to the heavy buying pressure seen since yesterday.

We can clearly see a double-bottom pattern above the $1580 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1884 and moving into a strong bullish channel. The price of ETHUSD is now testing its classic resistance level of 1895 and Fibonacci resistance level of 1901 after which the path towards 2000 will get cleared.

The relative strength index is at 67 indicating a strong market and the continuation of the uptrend in the markets.

We can see the formation of a bullish harami pattern on the 2-hour time-frame indicating the underlying bullish nature of the markets.

The STOCHRSI is indicating an oversold market, which means that the prices are due for an upwards correction.

All of the technical indicators are giving a strong buy market signal.

All of the moving averages are giving a strong buy signal and we are now looking at the levels of $1900 to $2000 in the short-term range.

ETH is now trading above its 100 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1580
(https://i.postimg.cc/N0r2X4tN/ethx.png)

ETHUSD is now moving into a strongly bullish channel with the prices trading above the $180 handle in the European trading session today.

ETH touched an intraday high of 1911 and an intraday low of 1830 in the Asian trading session today.

We have also detected the formation of the Ichimoku bullish crossover pattern in the 15-minute time frame.

The Williams percent range is also giving a bullish markets signal at the current reading of -28.

The key support levels to watch are $1751 and $1716, and the price of ETHUSD needs to remain above these levels for the continuation of the bullish reversal in the markets.

ETH has increased by 10.87% with a price change of 184$ in the past 24hrs and has a trading volume of 28.383 billion USD.

We can see an increase of 60.00% in the total trading volume in the last 24 hrs which is due to the buying seen by the medium-term Investors.

The Week Ahead

We can see a continuous progression of a bullish trendline from 1580 towards the 1918 level.

The price of Ethereum is now testing its resistance zone located at $2000, and we are likely to see a short-term correction in its levels after touching $2000.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support levels of $1700 this week.

The weekly outlook is projected at $1950 with a consolidation zone of $1800.

Technical Indicators:

The relative strength index (14): at 67.52 indicating a BUY

The moving averages convergence divergence (12,26): at 37.31 indicating a BUY

The rate of price change: at 4.01 indicating a BUY

The ultimate oscillator: at 53.30 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 12, 2022, 12:46:42 PM
AUD/USD and NZD/USD Gain Bullish Momentum
(https://i.postimg.cc/cJC7NRpH/aud.jpg)

AUD/USD is gaining pace above the 0.7050 resistance. NZD/USD is also eyeing a key upside break above the 0.6460 resistance.

Important Takeaways for AUD/USD and NZD/USD


AUD/USD Technical Analysis
(https://i.postimg.cc/Qt5TX00X/audx.jpg)

The Aussie Dollar formed a base above the 0.6920 and 0.6950 levels against the US Dollar. The AUD/USD pair started a steady increase after it cleared the 0.7000 resistance zone.

There was a clear move above the 0.7050 resistance and the 50 hourly simple moving average. The pair even broke the 0.7100 barrier and traded as high as 0.7136 on FXOpen. Recently, there was a minor downside correction below the 0.7120 level.

The pair dipped below the 50% Fib retracement level of the upward move from the 0.7063 swing low to 0.7136 high. However, the pair stayed above the 0.7100 level and the 50 hourly simple moving average.

The 61.8% Fib retracement level of the upward move from the 0.7063 swing low to 0.7136 high also acted as a support. The pair is now rising and trading near 0.7115.

There is also a key bullish trend line forming with support near 0.7100 on the hourly chart of AUD/USD. On the upside, the AUD/USD pair is facing resistance near the 0.7135 level. The next major resistance is near the 0.7150 level. A close above the 0.7150 level could start a steady increase in the near term. The next major resistance could be 0.7200.

On the downside, an initial support is near the 0.7100 level. The next support could be the 0.7070 level. If there is a downside break below the 0.7070 support, the pair could extend its decline towards the 0.7020 level.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 15, 2022, 09:23:12 AM
GBP/USD and GBP/JPY At Risk of More Downsides
(https://i.postimg.cc/Jhywj8rp/gbp.jpg)

GBP/USD started a downside correction from the 1.2275 zone. GBP/JPY declined and remains at a risk of more losses below 161.20.

Important Takeaways for GBP/USD and GBP/JPY


GBP/USD Technical Analysis
(https://i.postimg.cc/9fs6pkzC/gbpx.png)

This past week, the British Pound found support near the 1.2000 zone against the US Dollar. The GBP/USD pair started a recovery wave and was able to settle above the 1.2100 zone.

There was a steady increase above the 1.2150 zone and the 50 hourly simple moving average. The pair even traded above the 1.2200 resistance zone. However, the bears were active near the 1.2275 and 1.2280 levels.

A high was formed near 1.2276 on FXOpen and the pair is now correcting lower. There was a move below the 1.2200 support zone. It even broke the 1.2150 level and the 50 hourly simple moving average.

A low is formed near 1.2100 and the pair is now consolidating losses. It is facing resistance near the 1.2140 level or the 23.6% Fib retracement level of the recent decline from the 1.2276 swing high to 1.2100 level.

The next major resistance is near the 1.2180 level and the 50 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the 1.2276 swing high to 1.2100 level. An upside break above 1.2180 might start a fresh increase towards 1.2275.

An immediate support is near the 1.2110. There is also a major bullish trend line forming with support near 1.2110 on the hourly chart of GBP/USD.

The next major support is near the 1.2060 level. If there is a break below the 1.2060 support, the pair could test the 1.2000 support. Any more losses might send GBP/USD towards 1.1950.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 15, 2022, 05:49:17 PM
Keep calm and carry on: London's FTSE 100 shows stoic approach has worked
(https://i.postimg.cc/Wb7DL6hY/fste-100-index.jpg)

For those who have managed to maintain enough enthusiasm to look beyond all of the doom and gloom which the world's media channels appear to revel in propagating, there has been some positive movements in the British economy over the past few days.

Behind all of the widespread reports of inflation, increasing energy costs and the general feeling that the Pound does not go anywhere near as far as it once did, there is some degree of comfort, and it is coming from the stock markets.

The FTSE 100 index, which is a collection of stocks of publicly listed giants which are regarded as the most prestigious on the UK market, has been performing very well.

As the bell sounded in the heart of the financial district in Britain's capital this morning, signaling another exciting week at the London Stock Exchange, the FTSE 100 began the day by increasing by 11.42 points to 7,512.31.

Whilst the Bank of England appears to be intent on maintaining its aggressive interest rate stance in the face of persistent inflation in the United Kingdom, the FTSE 100 index arrived at a 5-day high point by 9.00am today.

In fact, this morning's sudden upturn in fortune for the FTSE 100 represented the third highest point in six months, with trips over the 7,600 mark having taken place in April and June.

By 10.00am, the FTSE 100 had settled down to around 7,511 however that is still a high point for the prestigious index, despite a slight downward movement following this morning's spike at 9,00am and the index is still 11.5 points higher than its Friday afternoon close, and is 29 points up over the five-day moving average.

Oddly, despite inflation and a reducing purchasing power among consumers being a major consideration for almost every citizen of the United Kingdom (and many other western countries!) right now, investors have reacted positively to CPI and PPI data released this week that suggested inflation may have already peaked.

Conversely, confidence in the US market has taken a drop due to some vague allusion to possible geopolitical tensions between China and the United States as American lawmakers arrive for a trip to Taiwan, and Chinese economic data having revealed the ongoing impact of Covid-19 lockdowns and an escalating property crisis.

Evergrande, after all, is one of those rare insights into the potential over commitment by Chinese property giants that has been viewed from outside China; most of the time, it is impossible to gain any data on Chinese companies from outside the country.

Britain has been doing well by comparison, especially within the large corporations, and those are the corporations whose stock is listed in the FTSE 100 index.

The fabled stiff upper lip approach, and 'keep calm and carry on' culture has paid dividends... literally.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 16, 2022, 05:11:11 PM
BTCUSD and XRPUSD Technical Analysis – 16th AUG 2022
(https://i.postimg.cc/0Nrj8p62/btc.jpg)

BTCUSD: Bearish Engulfing Pattern Below $25196

Bitcoin was unable to sustain its bullish momentum and after touching a high of 25196 on 15th Aug started to decline against the US dollar, coming below the $24000 handle today in the Asian trading session.

We can see that bitcoin failed to clear its resistance zone located at $25500 for the third time this month.

After touching a high of $25196, we can see some downward correction in the price towards the $23776 level.

We can clearly see a bearish engulfing pattern below the $25196 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 24250 in the Asian trading session and an intraday low of 23787 in the Asian trading session today.

Both the STOCH and Williams percent range are indicating an overbought level which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 43 indicating a weak demand for bitcoin at the current market level and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and its 200 hourly simple moving average.

Some of the major technical indicators are giving a sell signal, which means that in the immediate short term, we are expecting targets of 23500 and 23000.

The average true range is indicating less market volatility with a mildly bearish momentum.

[LIST=1]

Bitcoin: Bearish Reversal seen Below $25196
(https://i.postimg.cc/Yq3CYXYC/btcx.png)

The price of Bitcoin dipped to a low of 23828 after which we can see some buying support and a move towards the consolidation phase in the markets.

The BTCUSD is attempting a downside break due to the formation of a contraction triangle below the 24804 level.

We can see the formation of the Ichimoku bearish crossover pattern in the 4-hour time-frame indicating the underlying bearish nature of the markets.

The immediate short-term outlook for bitcoin is bearish; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $23000, and the prices continue to remain above these levels for any potential bullish reversal in the markets.

The price of BTCUSD is now facing its classic support level of 23873 and Fibonacci support level of 23982 after which the path towards 23000 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.22% by 53$, and has a 24hr trading volume of USD 29.478 billion. We can see a 2.30% decrease in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The prices of bitcoin are moving in a consolidation zone above the $24000 level. The on-chain analysis also suggests that the markets are having more bearish tendencies and as such a drop in the levels is expected.

The daily RSI is printing at 58 which indicates a strong demand from the long-term investors.

The trendline formation is seen from the $25196 level towards the $23069, and we are now looking for the continuation of this trend in the hourly time frame.

The price of BTCUSD will need to remain above the important support level of $23000 this week.

The weekly outlook is projected at $24000 with a consolidation zone of $23500.

Technical Indicators:

The rate of price change: at -1.38 indicating a SELL

The ultimate oscillator: at 48.61 indicating a SELL

The relative strength index (14): at 49.35 indicating a NEUTRAL

The commodity channel index(14days): at -110.88 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 17, 2022, 11:34:34 AM
EUR/USD and EUR/JPY Face Key Hurdles
(https://i.postimg.cc/fyGcSKsn/eur.jpg)

EUR/USD started a fresh decline and traded below 1.0200. EUR/JPY is attempting a recovery wave and might rally if it clears 137.00.

Important Takeaways for EUR/USD and EUR/JPY


EUR/USD Technical Analysis
(https://i.postimg.cc/mZJNnbHX/eurx.png)

The Euro failed to clear the 1.0360 resistance against the US Dollar. The EUR/USD pair started a major decline below the 1.0300 and 1.0250 support levels.

There was a clear move below the 1.0220 level and the 50 hourly simple moving average. The pair even settled below the 1.0200 level. A low was formed near 1.0122 on FXOpen and the pair is now consolidating losses.

The pair recovered above 1.0150 and tested the 23.6% Fib retracement level of the downward move from the 1.0364 swing high to 1.0122 low.

Besides, there was a break above a key bearish trend line with resistance near 1.0165 on the hourly chart. On the upside, the pair is facing resistance near the 1.0180 level and the 50 hourly simple moving average.

A clear move above the 1.0180 resistance might send the price towards 1.0220. The next major resistance is near the 1.0240 level. It is near the 50% Fib retracement level of the downward move from the 1.0364 swing high to 1.0122 low. If the bulls remain in action, the pair could revisit the 1.0300 resistance zone in the near term.

On the downside, the pair might find support near the 1.0150 level. The next major support sits near the 1.0120 level. If there is a downside break below the 1.0120 support, the pair might accelerate lower in the coming sessions.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 18, 2022, 04:31:09 PM
ETHUSD and LTCUSD Technical Analysis – 18th AUG, 2022
(https://i.postimg.cc/vmDYgmGn/eth.jpg)

ETHUSD: Shooting Star Pattern Below $2029

Ethereum was unable to sustain its bullish momentum and after touching a high of 2029 on 14th Aug started to decline against the US dollar coming down below the $1900 handle in the European trading session today.

We can see a continuous fall in the price of Ethereum due to the heavy selling pressure amid rising global inflation levels.

We can clearly see a shooting star pattern below the $2029 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just above its pivot levels of 1842 and moving into a strong bearish channel. The price of ETHUSD is now testing its classic support level of 1827 and Fibonacci support level of 1838 after which the path towards 1700 will get cleared.

The relative strength index is at 43 indicating a weak market and the continuation of the downtrend in the markets.

We can see the formation of a bearish engulfing line in the 15-minute time frame indicating the underlying bearish nature of the markets.

Both the STOCH and STOCHRSI are indicating a neutral market, which means that the prices are expected to remain in a consolidation phase.

Most of the technical indicators are giving a strong sell market signal.

All of the moving averages are giving a strong sell signal, and we are now looking at the levels of $1800 to $1700 in the short-term range.

ETH is now trading below both the 100 hourly simple and exponential moving averages.


Ether: Bearish Reversal Seen Below $2029
(https://i.postimg.cc/QCghG9J2/etx.png)

ETHUSD is now moving into a strong bearish channel with the price trading below the $1900 handle in the European trading session today.

ETH touched an intraday high of 1865 and an intraday low of 1821 in the Asian trading session today.

We can see the adaptive moving average AMA20 and AMA50 bearish crossover pattern in the 2-hour time frame.

We have also detected the formation of a bearish harami pattern in the weekly time frame.

The commodity channel index is indicating a neutral market level, and the continuation of the consolidation phase in the markets.

The key support levels to watch are $1800 and $1820, and the prices of ETHUSD need to remain above these levels for any potential bullish reversal in the markets.

ETH has decreased by 2.47% with a price change of 46$ in the past 24hrs and has a trading volume of 17.646 billion USD.

We can see an increase of 0.58% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

We can see a continuous progression of a bearish trendline formation from 2029 towards the 1821 level.

The price of Ethereum is now testing its support zone located at $1800, and we are likely to see a more decline in the price once it touches these levels.

The immediate short-term outlook for Ether has turned strongly bearish; the medium-term outlook has turned bearish; and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1800 this week.

The weekly outlook is projected at $1850 with a consolidation zone of $1800.

Technical Indicators:

The relative strength index (14): at 43.31 indicating a SELL

The moving averages convergence divergence (12,26): at -7.90 indicating a SELL

The rate of price change: at -0.68 indicating a SELL

The ultimate oscillator: at 37.67 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-18th-aug-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 19, 2022, 08:31:19 AM
Gold Price Slides While Crude Oil Price Aims Higher
(https://i.postimg.cc/TPMgMqH7/gold.jpg)

Gold price started a fresh decline below the $1,780 support zone. Crude oil price is rising and might aim more gains above the $90 resistance.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price attempted to settle above the $1,800 resistance zone against the US Dollar. However, the price failed to stay above $1,800 and started a fresh decline.

There was a clear move below the $1,780 support zone and the 50 hourly simple moving average. The price declined below the $1,765 level to move into a short-term bearish zone. The decline gained pace below the $1,760 level.

Gold Price Hourly Chart
(https://i.postimg.cc/9fdTWR6W/goldx.jpg)

The price traded as low as $1,753 and is currently consolidating losses. On the upside, the price is facing resistance near the $1,760 level. It is near the 38.2% Fib retracement level of the downward move from the $1,772 swing high to $1,753 low.

The main resistance is now forming near the $1,765 level. There is also a key bearish trend line forming with resistance near $1,763 on the hourly chart of gold.

The trend line is near the 50% Fib retracement level of the downward move from the $1,772 swing high to $1,753 low. A close above the $1,765 level could open the doors for a steady increase towards $1,780. A clear upside break above the $1,780 resistance could send the price towards $1,800.

An immediate support on the downside is near the $1,752 level. The next major support is near the $1,750 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,730 support zone.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/gold-price-slides-while-crude-oil-price-aims-higher/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 22, 2022, 08:25:59 AM
GBP/USD Nosedives, EUR/GBP Could Climb Higher
(https://i.postimg.cc/T3cbqm2p/gbp.jpg)

GBP/USD started a fresh decline from well above the 1.2000 zone. EUR/GBP is rising and might climb further higher above the 0.8500 resistance.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound struggled to clear the 1.2250 and 1.2200 resistance levels against the US Dollar. The GBP/USD pair started a decline and there was a move below the 1.2120 support zone.

There was a sharp decline below the 1.2000 support and the 50 hourly simple moving average. The bears were able to push the pair below the 1.1920 level. A low was formed near 1.1791 on FXOpen and the pair is now consolidating losses.

GBP/USD Hourly Chart
(https://i.postimg.cc/WzS8HKTJ/gbpx.jpg)

On the upside, an initial resistance is near the 1.1850 level. There is also a key bearish trend line forming with resistance near 1.1850 on the hourly chart of GBP/USD.

The trend line is near the 23.6% Fib retracement level of the downward move from the 1.2138 swing high to 1.1791 low. The next main resistance is near the 1.1910 zone and the 50 hourly simple moving average.

The key hurdle is near the 1.1950 and 1.1965 levels. It is near the 50% Fib retracement level of the downward move from the 1.2138 swing high to 1.1791 low. A clear upside break above the 1.1950 and 1.1965 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2000 level.

On the downside, an initial support is near the 1.1800 level. The next major support is near the 1.1750 level. Any more losses could lead the pair towards the 1.1680 support zone or even 1.1620.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/gbp-usd-nosedives-eur-gbp-could-climb-higher/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 22, 2022, 12:12:02 PM
British Pound collapses against EUR and USD, despite 'Bidenomics' data
(https://i.postimg.cc/JtVF8rqg/dc.jpg)

It has been a catastrophic few days for the British Pound.

Looking at the graph this morning which shows the Pound absolutely crashing against the US Dollar makes for somewhat alarming reading, as it lost further ground on the European market open this morning having begun its downward spiral on Friday last week.

In fact, the British Pound has now arrived at a value of 1.18 against the US Dollar, which is its lowest value in over a year, and although the downturn has been gradual over the past few weeks, the sudden further drop which began on Friday and continued this morning is a clear indicator of tanking value.

It's almost the same situation when looking at the British Pound against the Euro. The Pound tanked to a low of 1.18 (same value as its standing against the Dollar today) on Friday, giving clear indication that despite the Eurozone's economic woes, confidence suddenly left the building when it comes to the Pound at the end of last week.

Yes, the United Kingdom's economy has been shattered by the current government having blown hundreds of billions of Pounds over the past two years with carefree abandon, and now expect the public to pay for it with increasing costs in energy, fuel taxation and interest rates as well as the effect of a delinquent economy crippled by government-imposed lockdowns, furlough schemes, misappropriated government-backed loans, multi-billion pound contracts handed to invested parties on the grounds of 'Covid', and subsequently Prime Minister Boris Johnson who is soon to leave office continually nailing his colors to the mast with Ukraine flags adorning his office and continually demonstrating vocal opponency toward Russia and its industry base.

This has exacerbated an already existing fiscal problem and now the piper has to be paid.

Inflation is at a 40 year high, and the cost of living crisis in the United Kingdom is not just media propaganda - it is real. Anyone walking the streets of provincial towns will see the food banks and charity dependence in full view.

Yes, the United States also pandered to the narratives of recent agendas, but its economy is not teetering despite its high inflation. Industrial production is still high and the nation appears to be fairing quite well despite tremendous challenges, hence the US Dollar's surprising strength over recent months.

After a year marked by Democrats’ internal dysfunction, Congress has over the last few weeks suddenly delivered a raft of legislation that will help form the core of President Biden’s economic record before lawmakers face voters in the 2022 midterm elections.

Beyond the economic rescue package and bipartisan infrastructure law passed last year, Congress this month alone also approved a $280 billion measure to expand veterans health care, a $280 billion law to counter China’s economic rise, and the Inflation Reduction Act centered on addressing the climate crisis, lowering health-care costs and raising taxes on large corporations.

That appears to be straight out of the socialist instruction manual, which would usually be enough to frighten investors, but the pragmatic minds in the markets have been viewing the dire situation in Europe and weighing it up against a relatively productive situation in the United States.

Yes, President Biden has garnered poor confidence from investment-savvy professionals and individuals, and his anti-Russia stance is almost as strong as Boris Johnson's (although Boris Johnson takes the accolade for being the most vocal). Biden has sent billions of Dollars to Ukraine, but still the economy is building itself up.

Right now, the British Pound's low point is a serious matter for the currency markets.

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/british-pound-collapses-against-eur-and-usd-despite-bidenomics-data/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 23, 2022, 02:30:39 PM
BTCUSD and XRPUSD Technical Analysis – 23rd AUG 2022
(https://i.postimg.cc/Vv5ntxZB/btc.jpg)

BTCUSD: Double Bottom Pattern Above $20798

Bitcoin was unable to sustain its bearish momentum and after touching a low of 20794 on 20th Aug, it has entered into a consolidation channel above the $21000 handle today in the European trading session.

We can see that bitcoin failed to clear its resistance zone located at $25500 for the fourth time this month.

After touching a high of $25195, we can see some downwards correction in the prices towards the $20798 levels.

We can clearly see a double bottom pattern above the $20798 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 20909 in the Asian Trading session, and an intraday high of 21510 in the European trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 57 indicating a strong demand for bitcoin at the current market levels and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and below the 200 hourly simple moving average.

All of the major technical indicators are giving a strong buy signal, which means that in the immediate short term, we are expecting targets of 22500 and 22000.

The average true range is indicating less market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal seen Above $20798
(https://i.postimg.cc/v8SWymDP/btcx.png)

The price of bitcoin dipped to a low of 20909 after which we can see some buying support and a move towards the consolidation phase in the markets above the $21000 handle.

The BTCUSD is attempting an upside break as the moving averages convergence divergence (MACD) has crossed its moving average in the 1-hourly time-frame.

The parabolic SAR Indicator is giving a bullish reversal signal in the 1-hourly time-frame.

We can see that the aroon indicator is giving a bullish trend signal in the 1-hourly time-frame indicating the underlying bullish nature of the markets.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $20000, and the prices continue to remain above these levels for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 21549 and Fibonacci resistance level of 21642 after which the path towards 22000 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.90% by 190$ and has a 24hr trading volume of USD 32.135 billion. We can see an increase of 27.24% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is moving in a consolidation zone above the $21000 level. The US Fed monetary policy and its effects on the strength of the US dollar continues to weigh on the prices of bitcoin which is being sold out by the medium-term investors.

The daily RSI is printing at 38 which indicates a weak demand from the long-term investors.

This continued downfall in the prices of bitcoin is being referred to as the start of crypto winter by some analysts.

The long-term trendline in hold is indicating that the next target for bitcoin is $28000 in the coming weeks, which is also confirmed by the super trend indicator.

The price of BTCUSD will need to remain above the important support levels of $20000 this week.

The weekly outlook is projected at $23000 with a consolidation zone of $22500.

Technical Indicators:

The average directional change (14): at 32.84 indicating a BUY

The ultimate oscillator: at 52.16 indicating a BUY

The rate of price change: at 1.52 indicating a BUY

The commodity channel index (14 days): at 100.44 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-23rd-aug-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 25, 2022, 04:10:47 PM
ETHUSD and LTCUSD Technical Analysis – 25th AUG, 2022
(https://i.postimg.cc/25pzWDmR/eth.jpg)

ETHUSD: Bullish Harami Pattern Above $1523

Ethereum was unable to sustain its bearish momentum and after touching a low of 1529 on 20th Aug started to correct upwards, crossing the $1700 handle in the European trading session today.

We can see a continuous appreciation in the prices of Ethereum due to the buying seen at lower levels by the medium-term investors.

We can clearly see a bullish harami pattern above the $1523 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1709 and moving into a strongly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1713 and Fibonacci resistance level of 1718 after which the path towards 1800 will get cleared.

The relative strength index is at 63 indicating a STRONG demand for Ether and the continuation of the uptrend in the markets.

We can see that the adaptive moving average, AMA100, is indicating a bullish trend reversal in both the 2-hour and 4-hour timeframes.

The Williams percent range is indicating an OVERBOUGHT market, which means that the prices are expected to correct downwards in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

All of the moving averages are giving a STRONG BUY signal and we are now looking at the levels of $1800 to $1900 in the short-term range.

ETH is now trading Above its 100 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1523
(https://i.postimg.cc/zB88dFVx/etx.png)

ETHUSD is now moving into a strong bullish channel with the prices trading above the $1600 handle in the European trading session today.

ETH touched an intraday low of 1652 in the Asian trading session and an intraday high of 1715 in the European trading session today.

We have seen a bullish opening with a gap in the markets which indicates that now we are heading towards the $1800 mark.

The daily RSI is printing at 50 indicating a neutral demand in the long-term range.

Ethereum continues to move in a rising trend channel which is expected to continue in the medium-term range.

The key support levels to watch are $1600 and $1660, and the price of ETHUSD need to remain above these levels for the continuation of the bullish reversal in the markets.

ETH has increased by 3.91% with a price change of 64$ in the past 24hrs and has a trading volume of 16.144 billion USD.

We can see a decrease of 10.39% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

We can see a continuous progression of a bullish trendline formation from 1523 towards the 1762 levels.

The price of Ethereum is now testing its resistance zone located at $1800 and we are likely to witness a rally in the price once it touches these levels.

The immediate short-term outlook for Ether has turned strongly BULLISH, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.

The prices of ETHUSD will need to remain above the important support level of $1600 this week.

The weekly outlook is projected at $1950 with a consolidation zone of $1800.

Technical Indicators:

The relative strength index (14): at 62.26 indicating a BUY

The moving averages convergence divergence (12,26): at 15.03 indicating a BUY

The rate of price change: at 1.03 indicating a BUY

The ultimate oscillator: at 60.70 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-25th-aug-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 01, 2022, 04:01:04 PM
ETHUSD and LTCUSD Technical Analysis – 01st SEP, 2022
(https://i.postimg.cc/W4TMkmhW/eth.jpg)

ETHUSD: Bearish Engulfing Pattern Below $1721

Ethereum was unable to sustain its bullish momentum and after touching a high of 1721 on 25th Aug started to decline against the US dollar, coming down below the $1500 handle on 29th Aug.

We can see heavy selling pressure in Ethereum because of which it continued its decline touching a low of $1424.

We can clearly see a bearish engulfing pattern below the $1721 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just above its pivot level of 1541 and is moving into a strong bearish channel. The price of ETHUSD is now testing its classic support level of 1522 and Fibonacci support level of 1536 after which the path towards 1500 will get cleared.

The relative strength index is at 40 indicating a WEAK demand for Ether and the continuation of the downtrend in the markets.

We can see the adaptive moving average bearish crossover pattern in AMA20 and AMA50 indicating a bearish trend reversal in the 30-minutes time frame.

Both the STOCHRSI and Williams percent range are indicating an OVERSOLD market, which means that the prices are expected to correct upwards in the short-term range.

Most of the technical indicators are giving a STRONG SELL market signal.

Most of the moving averages are giving a STRONG SELL signal and we are now looking at the levels of $1450 to $1500 in the short-term range.

ETH is now trading above both its 200 hourly simple and exponential moving averages.


Ether: Bearish Reversal Seen Below $1721
(https://i.postimg.cc/z3YNfG0h/etx.png)

ETHUSD is now moving into a strong bearish channel with the price trading below the $1600 handle in the European trading session today.

ETH touched an intraday low of 1534 and an intraday high of 1583 in the Asian trading session today. The movements remain range-bound between the $1500 and $1600 levels.

The MACD has crossed down its moving average in the 4-hour time frame indicating the underlying bearish nature of the markets.

We can see the formation of a bearish harami pattern in the 30-minute time frame which indicates that now we are heading towards the $1500 mark.

The daily RSI is printing at 45 indicating a neutral demand in the long-term range.

Ethereum continues to move into a falling trend channel which is expected to continue in the short-term range.

The key support levels to watch are $1400 and $1420 and the prices of ETHUSD need to remain above these levels for any potential bullish reversal in the markets.

ETH has decreased by 1.56% with a price change of 24$ in the past 24hrs and has a trading volume of 17.680 billion USD.

We can see a decrease of 24.09% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

We can see a continuous progression of a bearish trendline formation from 1721 towards the 1459 level.

The price of Ethereum is now testing its support zone located at $1400 and we are likely to witness a rally in the prices once it touches these levels.

The immediate short-term outlook for Ether has turned strongly BEARISH, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.

The prices of ETHUSD will need to remain above the important support level of $1400 this week.

The weekly outlook is projected at $1500 with a consolidation zone of $1400.

Technical Indicators:

The relative strength index (14): at 40.90 indicating a SELL

The moving averages convergence divergence (12,26): at -5.39 indicating a SELL

The rate of price change: at -2.28 indicating a SELL

The ultimate oscillator: at 47.37 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-01st-sep-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 06, 2022, 05:21:08 PM
BTCUSD and XRPUSD Technical Analysis – 06th SEP 2022
(https://i.postimg.cc/6pvfJVpt/btc.jpg)

BTCUSD: Triple Bottom Pattern Above $19574

Bitcoin was unable to sustain its bearish momentum and after touching a low of 19574 on 01st Sep, it has entered a consolidation channel above the $19000 handle today in the European Trading session.

The price of bitcoin continues to move in a narrow consolidation pattern suggesting that we have touched the bottom, and it is now ready for a bullish reversal trend.

Such a movement also suggests that we are in a phase before a bullish rally could be seen in the markets.

We have also seen a bullish opening gap underpinning the markets this week.

We can clearly see a triple bottom pattern above the $19574 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 19703 in the Asian trading session and an intraday high of 20161 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 58 indicating a STRONG demand for bitcoin at the current market levels and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving averages.

All of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 20500 and 22000.

The average true range is indicating HIGH market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $19574
(https://i.postimg.cc/PqnztLCZ/btcx.png)

The price of Bitcoin dipped to a low of 19574 after which we can see some buying support and a move towards the consolidation phase in the markets above the $19500 handle.

The adaptive moving average AMA20 is giving a bullish trend reversal signal in the 4-hour time frame.

We can see the formation of a bullish harami cross pattern in the 1-hour time frame indicating the underlying bullish nature of the markets.

We have also detected the formation of a bullish harami pattern in both the daily and 1-hour time frames indicating the bullish scenario.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $19000 and the prices continue to remain above these levels for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 19989 and Fibonacci resistance level of 20070 after which the path towards 21000 will get cleared.

In the last 24hrs, BTCUSD has increased by 1.03% by 202$ and has a 24hr trading volume of USD 33.957 billion. We can see an increase of 23.80% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The prices of Bitcoin are moving in a consolidation zone above the $19500 level. At present the bearish outlook has been invalidated with a continuous buying at levels above $19600.

The 10-Year bitcoin trendline is in place with the next targets spotted at levels above $28000.

We can see that the market is trying to build a momentum which can continue to hold up to the $25000 level in the medium term.

The daily RSI is printing at 38 which indicates a eeak demand from the long-term investors.

The prices of BTCUSD will need to remain above the important support levels of $19500 this week.

The weekly outlook is projected at $21500 with a consolidation zone of $20500.

Technical Indicators:

The moving averages convergence divergence (12,26): is at 32.10 indicating a BUY

The ultimate oscillator: is at 54.23 indicating a BUY

The rate of price change: is at 1.018 indicating a BUY

The commodity channel index (14 days): is at 97.59 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-06th-sep-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 08, 2022, 07:01:39 PM
ETHUSD Technical Analysis – 08th SEP, 2022
(https://i.postimg.cc/GtP1X8QG/eth.jpg)

ETHUSD: Hammer Pattern Above $1490

Ethereum was unable to sustain its bearish momentum and after touching a low of 1492 on 07th Sep started to correct upwards against the US dollar, crossing the $1600 handle in the European trading session today.

We can see a continued buying pressure since yesterday and the formation of a bullish trendline from $1490 towards $1685 level.

We can clearly see a hammer pattern above the $1490 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1613 and moving into a strong bullish channel. The price of ETHUSD is now testing its classic resistance level of 1630 and Fibonacci resistance level of 1647 after which the path towards 1700 will get cleared.

The relative strength index is at 58 indicating a STRONGER demand for Ether and the continuation of the uptrend in the markets.

We can see the aroon indicator giving a bullish trend in the weekly time frame.

We have also detected a moving average crossover pattern between the MA50 & MA100 in the 30-minute time frame.

The STOCHRSI is indicating an OVERSOLD market, which means that the prices are expected to correct upwards in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1700 to $1800 in the short-term range.

ETH is now trading Above both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1490
(https://i.postimg.cc/Y2QkrZH0/etx.png)

ETHUSD is moving into a strong bullish channel with the prices trading above the $1600 handle in the European trading session today.

ETH touched an intraday high of 1656 in the Asian trading session and an intraday low of 1597 in the European trading session today.

A three white soldiers pattern is visible in the 30-minutes time frame indicating the underlying bullish nature of the markets.

We can see the formation of a bullish harami cross pattern in the 15-minute time frame which indicates that now we are heading towards the $1800 mark.

The daily RSI is printing at 50 indicating a neutral demand in the long-term range.

Ethereum continues to move into a rising trend channel which is expected to continue in the short-term range.

The key support levels to watch are $1515 and $1581, and the prices of ETHUSD need to remain above these levels for the continuation of the bullish reversal in the markets.

ETH has increased by 6.68% with a price change of 101$ in the past 24hrs and has a trading volume of 18.368 billion USD.

We can see a decrease of 12.89% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

On the upside the next visible targets are 1655 which is a 38.2% retracement from 4-week low, and 1726 which is a 50% retracement from 4-week high/low.

The price of Ethereum is now testing its immediate resistance zone located at $1700 and we are likely to witness a rally in the price once it touches these levels.

The immediate short-term outlook for Ether has turned strongly BULLISH, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.

The prices of ETHUSD will need to remain above the important support level of $1500 this week.

The weekly outlook is projected at $1800 with a consolidation zone of $1700.

Technical Indicators:

The relative strength index (14): is at 58.32 indicating a BUY

The moving averages convergence divergence (12,26): is at 10.23 indicating a BUY

The rate of price change: is at 3.32 indicating a BUY

The ultimate Oscillator: is at 58.98 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-technical-analysis-08th-sep-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 10, 2022, 01:49:05 AM
Watch FXOpen's September 5 - 9 Weekly Digest Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/vmzMY7LN/wmn0509.jpg) (https://www.youtube.com/watch?v=3e0EbLhnDTI)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 13, 2022, 11:52:29 PM
BTCUSD and XRPUSD Technical Analysis – 13th SEP 2022
(https://i.postimg.cc/jq8c7Fc6/btc.jpg)

BTCUSD: Inverted Hammer Pattern Above $19025

Bitcoin was unable to sustain its bearish momentum and after touching a low of 18567 on 07th Sep, it started to correct upwards crossing the $22000 handle today in the European trading session.

The price of Bitcoin continues to correct upwards due to the increased buying pressure and more upsides are expected towards the $25000 levels.

We can see a bullish price crossover with the adaptive moving average AMA50 in the 15-minute time frame.

We have also seen a bullish opening gap underpinning the markets this week.

We can clearly see an inverted hammer pattern above the $19025 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 22067 in the Asian trading session and an intraday high of 22553 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term a decline in the prices is expected.

The relative strength index is at 71 indicating a very strong demand for bitcoin at the current market levels and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving averages.

All of the major technical Indicators are giving a STRONG BUY signal, which means that in the immediate short term we are expecting targets of 24000 and 25000.

The average true range is indicating LESS market volatility with a strong bullish momentum.


Bitcoin: Bullish reversal seen above $19025
(https://i.postimg.cc/qMSGm69z/btcx.png)

The price of bitcoin is forming an ascending channel, with the current price action indicating a move towards the consolidation phase above the $22000 handle.

We can see the formation of a bullish harami pattern in the 2-hourly time-frame indicating the underlying bullish nature of the markets.

We have also detected the formation of a bullish engulfing line in the 1-hourly time frame indicating the bullish scenario.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $21000 and the price continues to remain above these levels for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 22502 and Fibonacci resistance level of 22731 after which the path towards 23000 will get cleared.

In the last 24hrs BTCUSD has increased by 0.95% by 211$ and has a 24hr trading volume of USD 43.846 billion. We can see a decrease of 2.98% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is moving in a consolidation zone above the $22000 levels. At present the price is moving into a narrow range between the 22000 and 22500 levels.

We can see that the price of bitcoin is super bullish and we are heading towards the $30000 handle in the medium term range.

The daily RSI is printing at 61 which indicates a very strong demand from the long-term investors.

The price of BTCUSD will need to remain above the important support levels of $21000 this week.

The weekly outlook is projected at $25000 with a consolidation zone of $24500.

Technical Indicators:

The moving averages convergence divergence (12, 26): is at 564.30 indicating a BUY.

The ultimate oscillator: is at 57.64 indicating a BUY.

The rate of price change: is at 5.34 indicating a BUY.

The commodity channel index (14): is at 105.75 indicating a BUY.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-13th-sep-2022/)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 15, 2022, 03:18:26 PM
ETHUSD and LTCUSD Technical Analysis – 15th SEP, 2022
(https://i.postimg.cc/B65NQzNz/eth.jpg)

ETHUSD: Hammer Pattern Above $1551

Ethereum was unable to sustain its bullish momentum and after touching a high of 1788 on 11th Sep the price started to decline against the US dollar. This decline was mainly attributed to the strength of the US dollar in the global markets and the subsequent increase in the market liquidity.

We can see a continued buying pressure since yesterday and the formation of a bullish price crossover pattern with moving averages MA20, MA50 and MA100 in the 15-minute time frame.

We can clearly see a hammer pattern above the $1551 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1599 and moving in a strong bullish channel. The price of ETHUSD is now testing its classic resistance level of 1625 and Fibonacci resistance level of 1651 after which the path towards 1700 will get cleared.

The relative strength index is at 56 indicating a STRONGER demand for Ether and the continuation of the uptrend in the markets.

We can see that the super trend indicator is giving a bullish reversal signal in the 15-minute time frame.

We have also detected a bullish harami cross pattern in the 1 -hour time frame.

The STOCHRSI is indicating an OVERBOUGHT market, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1750 to $1900 in the short-term range.

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1551
(https://i.postimg.cc/FzDZ0JMg/etx.png)

ETHUSD is now moving into a strongly bullish channel with the prices trading above the $1600 handle in the European trading session today.

ETH touched an intraday low of 1571 and an intraday high of 1651 in the European trading session today.

We have seen a bullish opening of the markets today indicating the underlying bullish nature of the markets.

We can see that MACD has crossed UP its moving average in the 4-hour time frame indicating the bullish tone, and now we are looking at the levels of 1800 to 2000 in the medium-term range.

The daily RSI is printing at 48 indicating a neutral demand in the long-term range.

The key support levels to watch are $1566 and $1501 and the prices of ETHUSD need to remain above these levels for the continuation of the bullish reversal in the markets.

ETH has increased by 1.40% with a price change of 22.33$ in the past 24hrs and has a trading volume of 24.474 billion USD.

We can see an increase of 5.50% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

On the upside, the next visible targets are 1752 which is a 38.2% retracement from 4 week low, and 1690 which is a 50% retracement from 4 week high/low.

The prices of Ethereum are now testing its immediate resistance zone located at $1700 and we are likely to witness a rally in the prices once it touches these levels.

The immediate short-term outlook for Ether has turned strongly BULLISH, the medium-term outlook has turned NEUTRAL, and the long-term outlook for Ether is NEUTRAL in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1500 this week.

The weekly outlook is projected at $1900 with a consolidation zone of $1700.

Technical Indicators:

The average directional change (14): is at 24.06 indicating a BUY

The moving averages convergence divergence (12,26): is at 0.48 indicating a BUY

The rate of price change: is at 2.61 indicating a BUY

The ultimate oscillator: is at 62.47 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-15th-sep-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 20, 2022, 04:18:30 PM
BTCUSD and XRPUSD Technical Analysis – 20th SEP 2022
(https://i.postimg.cc/c1M3sshp/btc.jpg)

BTCUSD: Bullish Engulfing Pattern Above $18293

Bitcoin was unable to sustain its bearish momentum and after touching a low of 18322 on 19th Sep, it has entered into a consolidation channel above the $19000 handle today in the European trading session.

The price of bitcoin continues to move in a tight range between 19200 and 19700 levels today suggesting that we have hit the bottom of the downtrend.

We can see the formation of an ascending channel pattern on the hourly chart of the BTCUSD.

The price of bitcoin is nearing the horizontal support level in the daily time frame indicating the bullish tone in the markets.

We can clearly see a bullish engulfing pattern above the $18293 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 19679 in the Asian trading session and an intraday low of 19195 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term a decline in the prices is expected.

The relative strength index is at 53 indicating a NEUTRAL demand for bitcoin at the current market levels and the continuation of the buying pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 200 hourly exponential moving averages.

Some of the major technical indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of 20000 and 21500.

The average true range is indicating LESS market volatility with a mild bullish momentum.


Bitcoin: Bullish Reversal Seen Above $18293
(https://i.postimg.cc/sDjhxt0v/btcx.png)

The price of bitcoin has crashed below the important support level of $19000 due to the strength of the US dollar and the increase in the global market liquidity pattern.

The adaptive moving average AMA50 and moving average MA20 is giving a bullish trend reversal signal in the 15-minutes time frame.

We can see that the momentum indicator is giving a bullish trend signal in the weekly time frame.

We have also detected a bullish opening of the markets indicating the underlying bullish sentiment.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $18000 and the prices continue to remain above these levels for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its сlassic resistance level of 19544 and Fibonacci resistance level of 19722 after which the path towards 20000 will get cleared.

In the last 24hrs BTCUSD has increased by 4.77% by 881$ and has a 24hr trading volume of USD 36.188 billion. We can see an increase of 6.47% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is moving in a consolidation zone above the $19000 level. At present the price of bitcoin is gaining a bullish traction against the US dollar in the medium-term range.

We can see the buildup of positive momentum in the markets with the prices moving close to the psychological support level of $20000.

The daily RSI is printing at 40 which indicates a weak demand from the long-term investors.

The price of BTCUSD will need to remain above the important support level of $18500 this week.

The weekly outlook is projected at $21000 with a consolidation zone of $20000.

Technical Indicators:

The moving averages convergence divergence (12,26): is at 5.20 indicating a BUY

The ultimate oscillator: is at 51.34 indicating a BUY

The rate of price change: is at 0.70 indicating a BUY

The average directional change (14): is at 28.61 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-20th-sep-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 23, 2022, 02:32:14 AM
ETHUSD and LTCUSD Technical Analysis – 22nd SEP, 2022
(https://i.postimg.cc/QNWwRn3z/eth.jpg)

ETHUSD: Hammer Pattern Above $1220

Ethereum was unable to sustain its bullish momentum and after touching a high of 1393 on 21st Sep the prices started to decline against the US dollar. The prices of Ethereum touched a low of 1220 on 22nd Sep after which we can see a bounce upwards.

We can see a continued buying pressure today and we can see the formation of a bullish harami cross pattern in the 15-minutes time frame.

We can clearly see a hammer pattern above the $1220 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1288 and is moving into a strong bullish channel. The price of ETHUSD is now testing its classic resistance level of 1298 and Fibonacci resistance level of 1308 after which the path towards 1400 will get cleared.

The relative strength index is at 47 indicating a NEUTRAL demand for Ether and a shift towards a consolidation phase in the markets.

We can see that the adaptive moving average AMA50 and MA50 both are giving a bullish trend reversal signal in the markets.

The STOCHRSI is indicating an OVERBOUGHT market, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Some of the moving averages are giving a BUY signal and we are now looking at the levels of $1400 to $1500 in the short-term range.

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1220
(https://i.postimg.cc/jd0mKQqS/etx.png)

ETHUSD is now moving into a mildly bullish channel with the prices trading above the $1250 handle in the European trading session today.

ETH touched an intraday low of 1220 in the Asian trading session and an intraday high of 1297 in the European trading session today.

We have seen that the prices are near support of the channel indicating a bullish scenario.

The moving average MA100 is also indicating the bullish tone in the daily timeframe and now we are looking at the levels of 1500 to 1600 in the medium-term range.

The daily RSI is printing at 35 indicating a neutral demand in the long-term range.

The key support levels to watch are $1200 and $1258, and the prices of ETHUSD need to remain above these levels for the continuation of the bullish reversal in the markets.

ETH has decreased by 3.54% with a price change of 47.38$ in the past 24hrs and has a trading volume of 22.404 billion USD.

We can see an increase of 61.35% in the total trading volume in the last 24 hrs which is due to the heavy buying seen at lower levels by the medium-term investors.

The Week Ahead

The prices have been ranging into an oversold zone from last week and an upwards correction is expected. We are now looking for a sharp rally into the markets towards the $1600 levels.

The recent fall in the levels of Ethereum is attributed to the Federal Reserve which hiked the key interest rates for the third time this year.

The immediate short-term outlook for Ether has turned mildly BULLISH, the medium-term outlook has turned BULLISH, and the long-term outlook for Ether is NEUTRAL in present market conditions.

The prices of ETHUSD will need to remain above the important support level of $1200 this week.

The weekly outlook is projected at $1500 with a consolidation zone of $1400.

Technical Indicators:

The average directional change (14): is at 16.88 indicating a NEUTRAL level

The Williams percent range: is at -36.05 indicating a BUY

The bull/bear power (13): is at 12.62 indicating a BUY

The ultimate oscillator: is at 52.57 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-22nd-sep-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 24, 2022, 12:16:39 PM
Watch FXOpen's September 19 - 23 Weekly Digest Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/2yBPX59w/cdr2x.jpg) (https://youtu.be/Chj7XGU6DHs)

VIEW FULL NEWS VISIT - FXOpen Company News... (https://fxopen.com/en/news/watch-fxopens-september-19-23-weekly-digest-video/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 27, 2022, 03:00:02 PM
BTCUSD and XRPUSD Technical Analysis – 27th SEP 2022
(https://i.postimg.cc/d35ydXMk/btc.jpg)

BTCUSD: Double Bottom Pattern Above $18566

Bitcoin was unable to sustain its bearish momentum and after touching a low of 18279 on 21st Sep, the price has continued to escalate upwards and crossed the $20000 handle today in the European trading session.

This upside break was long overdue and now marks the beginning of rebound towards the $25000 level.

We can see the formation of bullish engulfing lines in the 15-minute and weekly time frames.

The momentum indicator is back over zero indicating a bullish scenario in both the 30-minute and daily time frames.

We can clearly see a double bottom pattern above the $18566 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 19097 in the Asian trading session and an intraday high of 20310 in the European trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 75 indicating an OVERBOUGHT market, and the possibility of some downwards correction due to profit taking by the medium-term investors.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving averages.

Most of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 22000 and 23500.

The average true range is indicating LESS market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $18566
(https://i.postimg.cc/y6j9wJJ1/btcx.png)

The price of bitcoin continues to rise amid the buying pressure and improved investor sentiments. We are now looking at the important target levels of $22000 and $25000 in the medium-term ranges.

The adaptive moving averages AMA20 and AMA50 are both giving a bullish trend reversal signal in the 15-minute and daily timeframes.

We can see the formation of a bullish harami pattern in the 2-hour time frame.

We have also detected a bullish opening of the markets indicating the underlying bullish sentiment.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $19000, and the price continues to remain above these levels for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 20253 and Fibonacci resistance level of 20298 after which the path towards 22000 will get cleared.

In the last 24hrs, BTCUSD has increased by 5.87% by 1120$ and has a 24hr trading volume of USD 48.845 billion. We can see an increase of 46.08% in the trading volume compared to yesterday, due to global buying pressure by the long-term investors.

The Week Ahead

The price of bitcoin is moving in a consolidation zone above the $20000 level. Further upsides are projected at $21000 and $22500 as the immediate targets.

The price of bitcoin reached its peak value of $69000 last year the month of November, and at the present level of $20000, we still need to recover ground towards the $40000 level, which if reached will mark a gain of 100% from the present market level.

The history of bitcoin price action shows that it is capable of doing so, and has done in the past.

The daily RSI is printing at 52 which indicates a neutral level and a move towards the consolidation phase in the markets.

The prices of BTCUSD will need to remain above the important support level of $19000 this week.

The weekly outlook is projected at $22000 with a consolidation zone of $21500.

Technical Indicators:

The moving averages convergence divergence (12,26): is at 323.90 indicating a BUY

The ultimate oscillator: is at 62.28 indicating a BUY

The rate of price change: is at 5.93 indicating a BUY

The average directional change (14): is at 51.06 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-27th-sep-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 29, 2022, 05:56:39 PM
ETHUSD and LTCUSD Technical Analysis – 29th SEP, 2022
(https://i.postimg.cc/BQW0VmSW/eth.jpg)

ETHUSD: Bullish Engulfing Pattern Above $1257

Ethereum was unable to sustain its bullish momentum and after touching a high of 1400 on 27th Sep the price started to decline against the US dollar. The price of Ethereum touched a low of 1266 on 28th Sep after which we can see a bounce upwards.

We can see a continued buying pressure today and the formation of a bullish engulfing line in the 2-hour time frame.

We can clearly see a bullish engulfing pattern above the $1257 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1321 and moving into a strong bullish channel. The price of ETHUSD is now testing its сlassic resistance level of 1327 and Fibonacci resistance level of 1331 after which the path towards 1400 will get cleared.

The relative strength index is at 53 indicating a NEUTRAL demand for Ether and a shift towards the consolidation phase in the markets.

We can see that the adaptive moving average AMA20, AMA50, and AMA100 are giving a bullish trend reversal signal in the markets.

The STOCHRSI and Williams percent range is indicating a NEUTRAL market, which means that the prices are expected to remain in a consolidation phase in the short-term range.

Some of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1400 to $1550 in the short-term range.

ETH is now trading above both its 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1257
(https://i.postimg.cc/TYr6Mn1K/etx.png)

ETHUSD is moving in a mildly bullish channel with the price trading above the $1300 handle in the European trading session today.

ETH touched an intraday high of 1351 in the Asian trading session and an intraday low of 1313 in the European trading session today.

We have seen that the ichimoku price is over the cloud in the 1-hour time frame indicating a bullish scenario.

The Bullish harami pattern is observed in the weekly timeframe and MACD indicator is giving a bullish divergence signal in the 4-hour time frame.

The parabolic SAR indicator is giving a bullish reversal signal in the 30-minute time frame and now we are looking at the levels of 1450 to 1500 in the medium-term range.

The daily RSI is printing at 40 indicating a neutral demand in the long-term range.

The key support levels to watch are $1245 and $1285 and the prices of ETHUSD need to remain above these levels for the continuation of the bullish reversal in the markets.

ETH has increased by 4.27% with a price change of 54.65$ in the past 24hrs and has a trading volume of 16.127 billion USD.

We can see a decrease of 13.25% in the total trading volume in the last 24 hrs which is due to the shift towards a consolidation phase in the markets.

The Week Ahead

The price of Ethereum declined due the ongoing strength of the United States dollar and the increase in the market liquidity. We can see that now we are moving into a consolidation zone and the prices tend to move in a narrow range.

We are now looking for a fresh upside wave of correction towards the $1500 and $1600 levels.

We can see the formation of a bullish trendline in place from $1257 towards $1491 level.

The immediate short-term outlook for Ether has turned mildly BULLISH, the medium-term outlook has turned BULLISH, and the long-term outlook for Ether is NEUTRAL in present market conditions.

The prices of ETHUSD will need to remain above the important support level of $1250 this week.

The weekly outlook is projected at $1550 with a consolidation zone of $1500.

Technical Indicators:

The average directional change (14): is at 25.71 indicating a BUY

The rate of price change: is at 0.156 indicating a BUY

The bull/bear power (13): is at 1.606 indicating a BUY

The ultimate oscillator: is at 56.76 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-29th-sep-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 04, 2022, 03:32:58 PM
BTCUSD and XRPUSD Technical Analysis – 04th OCT 2022
(https://i.postimg.cc/26N3MX8G/btc.jpg)

BTCUSD: Three White Soldiers Pattern Above $18527

Bitcoin was unable to sustain its bullish momentum and after touching a high of 20328 on 27th Sep, it started to decline touching a low of 18525 on 28th Sep. After this decline, the prices have stabilized and we can see an uptrend in the markets.

The prices have crossed the $20000 mark in the European trading session today.

We can see that the price is back over the pivot point in the weekly time frame.

The price of bitcoin is ranging near the horizontal support levels in the weekly time frame.

We can clearly see a three white soldiers pattern above the $18527 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 19510 in the Asian trading session and an intraday high of 20099 in the European trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term a decline in the prices is expected.

The relative strength index is at 74 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 200 hourly exponential moving averages.

Most of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term we are expecting targets of 21000 and 22500.

The average true range is indicating LESS market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $18527
(https://i.postimg.cc/mD3hsNPs/btcx.png)

The strong bullish rebound that is seen is expected to continue in the short-term range and now we are looking at $21000 and $22000 as the immediate targets.

The adaptive moving average AMA20 is giving a bullish crossover pattern in the daily timeframe.

The parabolic SAR indicator is giving a bullish reversal signal on the daily time frame.

We have also detected the ichimoku bullish crossover pattern on the 4-hour time frame.

The immediate short-term outlook for bitcoin is bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $19005 and the prices continue to remain above this level for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 20007 and Fibonacci resistance level of 200048 after which the path towards 21000 will get cleared.

In the last 24hrs, BTCUSD has increased by 3.80% by 730$, and has a 24hr trading volume of USD 31.762 billion. We can see an increase of 28.33% in the trading volume as compared to yesterday, due to increased demand for bitcoin globally.

The Week Ahead

The prices of bitcoin are moving in a bullish zone above the $19900 level. Further upsides are projected at $21000 and $22000 as the immediate targets.

We have seen continued buying pressure at lower levels, as we can see the formation of an ascending price channel from $18527 towards the $20214 levels.

The daily RSI is printing at 52 which indicates a neutral level and a move towards the consolidation phase in the markets.

The price of BTCUSD will need to remain above the important support level of $19000 this week.

The weekly outlook is projected at $21000 with a consolidation zone of $20500.

Technical Indicators:

The moving averages convergence divergence (12,26): is at 142.70 indicating a BUY

The ultimate oscillator: is at 60.39 indicating a BUY

The rate of price change: is at 1.75 indicating a BUY

The average directional change (14): is at 52.40 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-04th-oct-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 08, 2022, 01:48:43 PM
Watch FXOpen's October 3-7 Weekly Digest Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/VLYDK6rq/maxresdefault.jpg) (https://www.youtube.com/watch?v=8n1TH0RbgQ0)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 12, 2022, 07:56:06 AM
BTCUSD and XRPUSD Technical Analysis – 11th OCT 2022
(https://i.postimg.cc/XqCct3xS/btc.jpg)

BTCUSD: Triple Top Pattern Below $20441

Bitcoin was unable to sustain its bullish momentum and after touching a high of 20441 on 06th Oct, it started to decline touching a low of 18977 today in the early Asian trading session.

The prices of bitcoin continue to decline amid the selling pressure that is seen across the cryptocurrency markets globally.

We can see that the prices are ranging near a new record low of 1 month in the weekly time frame.

We can clearly see a triple top pattern below the $20441 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 19282 and an intraday low of 18960 in the Asian trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 43 indicating a WEAK demand for bitcoin, and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and above its 200 hourly exponential moving averages.

Some of the major technical indicators are giving a SELL signal, which means that in the immediate short term, we are expecting targets of 18500 and 18000.

The average true range is indicating LESS market volatility with a mild bearish momentum.


Bitcoin: Bearish Reversal Seen Below $20441
(https://i.postimg.cc/Y2G3vf7n/btcx.png)

The fall in the price of bitcoin is in line with the three failed attempts at breaching the $20500 resistance level. We are now heading towards the important support level of $19000 which if broken will pave the way towards $18000.

We can see the formation of a bearish harami and bearish harami cross pattern in the 15-minute time frame.

The commodity channel index is giving a neutral level and the relative strength index is approaching the 50 level.

The immediate short-term outlook for bitcoin is mildly bearish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $18656 and the prices need to remain above this level for a potential bullish reversal in the markets.

The price of BTCUSD is now facing its classic support level of 19028 and Fibonacci support level of 19087 after which the path towards 18500 will get cleared.

In the last 24hrs BTCUSD has decreased by 0.92% by 176$ and has a 24hr trading volume of USD 28.521 billion. We can see an increase of 45.40% in the trading volume compared to yesterday, due to increased selling pressure in the markets.

The Week Ahead

The price of bitcoin is moving in a mildly bearish zone below the $19500 level. Further downsides are projected at $18500 and $18000 as the immediate targets.

After the recent decline, bitcoin is staging for a recovery once it breaches down the important support level of $19000.

The average direction index and MA5, MA10 are indicating a bullish rebound in the price towards the $20000 level.

The daily RSI is printing at 43 which indicates a neutral level and a move towards the consolidation phase in the markets.

The price of BTCUSD will need to remain above the important support level of $18500 this week.

The weekly outlook is projected at $19000 with a consolidation zone of $18800.

Technical Indicators:

The moving averages convergence divergence (12,26): is at -75.50 indicating a SELL

The ultimate oscillator: is at 44.42 indicating a SELL

The rate of price change: is at -0.661 indicating a SELL

Bull/Bear power (13): is at -10.73 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-11th-oct-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 13, 2022, 04:12:17 PM
ETHUSD and LTCUSD Technical Analysis – 13th OCT, 2022
(https://i.postimg.cc/wxf5wQ6K/eth.jpg)

ETHUSD: Evening Star Pattern Below $1337

Ethereum was unable to sustain its bullish momentum and after touching a high of 1381 on 06th Oct, the prices started to decline against the US dollar. The prices of Ethereum touched a low of 1267 on 11th Oct after which we can see a shift towards the consolidation phase in the markets.

We have seen a bearish opening of the markets which indicates the bearish trend.

We can clearly see an evening star pattern below the $1337 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just below its pivot level of 1277 and is moving in a mildly bearish channel. The price of ETHUSD is now testing its classic support level of 1268 and Fibonacci support level of 1275 after which the path towards 1200 will get cleared.

The relative strength index is at 36 indicating a weaker demand for Ether and a shift towards the consolidation phase in the markets.

We can see that the price is back under the pivot point in the daily time frame indicating a bearish trend.

Both the STOCHRSI and the Williams percent range are indicating an oversold market, which means that the prices are expected to correct upwards in the short-term range.

Most of the technical indicators are giving a STRONG SELL market signal.

All of the moving averages are giving a STRONG SELL signal and we are now looking at the levels of $12500 to $1200 in the short-term range.

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bearish Reversal Seen Below $1337
(https://i.postimg.cc/tCs3wnTs/etx.png)

ETHUSD is now moving in a mildly bearish channel with the price trading below the $1300 handle in the European trading session today.

ETH touched an intraday high of 1302 in the Asian trading session and an intraday low of 1272 in the European trading session today.

We can see the formation of a bearish harami pattern in the weekly time frame.

The moving average MA50 is giving a bearish trend reversal signal in the 1 hourly time frame.

We have seen that the support of the channel is broken in the 15-minute time frame indicating the bearish nature of the markets.

The daily RSI is printing at 38 indicating a weak demand in the long-term range.

The key support levels to watch are $1223 and $1227, and the price of ETHUSD needs to remain above these levels for any potential bullish reversal in the markets.

ETH has decreased by 2.20% with a price change of 28.61$ in the past 24hrs and has a trading volume of 8.806 billion USD.

We can see an increase of 8.11% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

The price of Ethereum came under heavy selling pressure as it declined below the $1300 level.

Ethereum’s price has now entered a bearish zone against the US dollar and we are now moving towards the $1200 level.

We can see the formation of a major bearish trend line in place from $1337 towards $1265 levels.

The immediate short-term outlook for Ether has turned mildly bearish, the medium-term outlook has turned bearish, and the long-term outlook for Ether is neutral in present market conditions.

The prices of ETHUSD will need to remain above the important support level of $1223 this week.

The weekly outlook is projected at $1275 with a consolidation zone of $1250.

Technical Indicators:

The average directional index ADX (14): is at 26.30 indicating a SELL

The rate of price change: is at -1.61 indicating a SELL

Bull/Bear power (13): is at -16.20 indicating a SELL

The commodity channel index (14): is at -125.57 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-13th-oct-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 14, 2022, 08:22:29 PM
Watch FXOpen's October 10-14 Weekly Digest Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/Zn6DqshC/maxresdefault.jpg) (https://www.youtube.com/watch?v=rc9CbIH2_FI)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 18, 2022, 04:23:52 PM
BTCUSD and XRPUSD Technical Analysis – 18th OCT 2022
(https://i.postimg.cc/d0cThRmS/btc.jpg)

BTCUSD: Bullish Engulfing Pattern Above $18237

Bitcoin was unable to sustain its bearish momentum and after touching a low of 18280 on 13th Oct, it started to correct upwards touching a high of 19893 on 14th Oct.

The price of bitcoin has bounced back from its lows due to heavy buying pressure seen below the $19000 levels.

We can see the formation of an ascending channel pattern above the support level of $19000 on the hourly chart of BTCUSD.

We can clearly see a bullish engulfing pattern above the $18237 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 19475 in the Asian trading session and an intraday high of 19694 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 56 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 200 hourly exponential moving averages.

Some of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 20500 and 21000.

The average true range is indicating LESS market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal seen Above $18237
(https://i.postimg.cc/xC0JR0Zv/btcx.png)

The long-term bullish phase has now resumed and the price of bitcoin is expected to become super bullish above the $20000 level.

We can see that any dips below the $19000 level remain well supported. We are now heading towards the important resistance level of $20000 which if broken will pave the way towards $22000.

We can see the formation of a bullish harami pattern in the 30-minute time frame.

The Adaptive Moving Average AMA20 is giving a Bullish signal in the daily timeframe.

The immediate short-term outlook for bitcoin is strongly Bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $19326 the ichimoku baseline, and the prices need to remain above this level for continuation of bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 19731 and Fibonacci resistance level of 19785 after which the path towards 20500 will get cleared.

In the last 24hrs, BTCUSD has decreased by 1.36% by 262$ and has a 24hr trading volume of USD 29.008 billion. We can see an increase of 42.42% in the trading volume compared to yesterday, due to increased buying seen in the global crypto markets.

The Week Ahead

The price of bitcoin is moving in a strongly bullish zone above the $19000 level. Further upsides are projected at $20500 and $21000 as the immediate targets.

We can see the formation of bullish engulfing lines in the weekly time frame. The price of bitcoin is back over the pivot point which indicates a bullish scenario in the weekly time frame.

The daily RSI is printing at 50 which indicates a neutral level and a move towards the consolidation phase in the markets.

The prices of BTCUSD will need to remain above the important support level of $19000 this week.

The weekly outlook is projected at $21000 with a consolidation zone of $20500.

Technical Indicators:

The MACD (12,26): is at 96.10 indicating a BUY

The ultimate oscillator: is at 51.65 indicating a BUY

The rate of price change: is at 2.053 indicating a BUY

The bull/bear power (13): is at 366.28 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-18th-oct-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 20, 2022, 07:16:38 PM
ETHUSD and LTCUSD Technical Analysis – 20th OCT, 2022
(https://i.postimg.cc/rF7C8wPc/eth.jpg)

ETHUSD: Bullish Harami Pattern Above $1263

Ethereum was unable to sustain its bearish momentum and after touching a low of 1205 on 13th Oct, the price started to correct upwards against the US dollar. The price of Ethereum touched a high of 1342 on 14th Oct after which we can see a shift towards the consolidation phase in the markets.

We have seen a bullish opening of the markets which indicates the present bullish trend.

We can clearly see a bullish harami pattern above the $1263 handle which signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1291 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1294 and Fibonacci resistance level of 1296 after which the path towards 1300 will get cleared.

The relative strength index is at 47 indicating a neutral demand for Ether and a shift towards consolidation phase in the markets.

We can see that the Williams percent range is back over -50 indicating the bullish tone present in the markets.

The STOCHRSI is indicating an overbought market, which means that the price is expected to decline in the short-term range.

Some of the technical indicators are giving a STRONG BUY market signal.

Some of the moving averages are giving a BUY signal and we are now looking at the levels of $1350 to $1400 in the short-term range.

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.

[LIST=1]

Ether: Bullish Reversal Seen Above $1263
(https://i.postimg.cc/qRB2mhzc/etx.png)

ETHUSD is now moving into a mildly bullish channel with the price trading above the $1200 handle in the European trading session today.

ETH touched an intraday low of 1271 in the Asian trading session and an intraday high of 1294 in the European trading session today.

We can see the formation of a bullish harami pattern in the weekly time frame.

The commodity channel index is indicating a neutral level and fresh upsides are expected in the markets towards the 1300 handle.

Ethereum’s price continues to move into a bullish zone against the US dollar and is expected to move above the $1300 levels.

The daily RSI is printing at 43 indicating a weak demand in the long-term range.

The key support levels to watch are $1232 and $1251, and the price of ETHUSD needs to remain above these levels for the continuation of the bullish reversal in the markets.

ETH has decreased by 0.40% with a price change of 5.16$ in the past 24hrs and has a trading volume of 8.465 billion USD.

We can see a decrease of 15.87% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

The price of Ethereum continues to remain well supported above the $1200 level, and has now started to move higher aiming at the $1300 level.

We can see the formation of a major bullish trend line in place from $1263 towards $1359 levels.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1273 which is a 38.2% retracement from 4-week low.

The weekly outlook is projected at $1400 with a consolidation zone of $1375.

Technical Indicators:

The average directional index ADX (14): is at 35.00 indicating a BUY

The ultimate oscillator: is at 69.59 indicating a BUY

Bull/bear power (13): is at 3.83 indicating a BUY

The commodity channel index (14): is at 59.91 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-20th-oct-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 22, 2022, 02:52:07 PM
Watch FXOpen's October 17-21 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/WzqdVyBT/yt.jpg) (https://www.youtube.com/watch?v=RQPFCRyl2Ss&t=2s)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 25, 2022, 02:52:43 PM
BTCUSD and XRPUSD Technical Analysis – 25th OCT 2022
(https://i.postimg.cc/J0brBfxd/btc.jpg)

BTCUSD: Bearish Engulfing Pattern Below $19685

Bitcoin was unable to sustain its bullish momentum and after touching a high of 19694 on 18th Oct, it started to decline touching a low of 18718 on 21st Oct.

We can see that bitcoin has made a failed attempt to cross the $20500 resistance on two separate occasions this month and is now back in the bearish zone.

We can see the formation of a bearish price crossover pattern with adaptive moving average AMA 20 and AMA 100 in the 4-hour time frame.

We can clearly see a bearish engulfing pattern below the $19685 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday low of 19252 in the Asian trading session and an intraday high of 19372 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 44 indicating a WEAKER demand for bitcoin, and the continuation of the selling pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 200 hourly exponential moving averages.

Some of the major technical indicators are giving a SELL signal, which means that in the immediate short term, we are expecting targets of 19000 and 18500.

The average true range is indicating LESS market volatility with a mildly bearish momentum.


Bitcoin: Bearish Reversal Seen Below $19685
(https://i.postimg.cc/Y2gqVF7f/btcx.png)

We can now see the progression of a falling trend channel in bitcoin as it is unable to hold onto its gains, and the increase in the selling pressure suggest we are now moving towards the $18000 handle.

The Aroon indicator is giving a bearish trend signal in the 1-hour time frame.

The MACD indicator is back under zero indicating the bearish trend in the 15-minute time frame.

The RSI indicator is also back under 50 indicating the weakness present in the markets.

The immediate short-term outlook for bitcoin is mildly bearish, the medium-term outlook has turned bearish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $18577, the Camarilla support levels and the price needs to remain above this level for any potential of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic support level of 19303 and Fibonacci resistance level of 19343 after which the path towards 18500 will get cleared.

In the last 24hrs, BTCUSD has decreased by 0.03% by 5$ and has a 24hr trading volume of USD 26.294 billion. We can see a decrease of 4.13% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is moving in a mildly bearish zone below the $19500 level. Further downside is projected at $18500 and $18000 as the immediate targets.

We have seen a bearish opening of the markets which suggests that we are poised for further declines this week below the $19000 levels.

The daily RSI is printing at 48 which indicates a neutral level and a move towards the consolidation phase in the markets.

The price of BTCUSD will need to remain above the important support level of $18000 this week.

The weekly outlook is projected at $18500 with a consolidation zone of $18000.

Technical Indicators:

The moving Averages Convergence Divergence MACD (12,26): is at -5.20 indicating a SELL

The commodity channel index CCI (14): is at -80.22 indicating a SELL

The rate of price change ROC: is at -0.16 indicating a SELL

The bull/bear power (13): is at 3-38.49 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-25th-oct-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 27, 2022, 08:19:47 PM
ETHUSD and LTCUSD Technical Analysis – 27th OCT, 2022
(https://i.postimg.cc/Kzr3432W/eth.jpg)

ETHUSD: Inverted Hammer Pattern Above $1254

Ethereum was unable to sustain its bearish momentum and after touching a low of 1254 on 21st Oct, the prices started to correct upwards against the US dollar. The prices of Ethereum touched a high of 1593 on 26th Oct after which we can see a shift towards the consolidation phase in the markets.

We can see that the prices of Ethereum are ranging near the support of the triangle in the 15-minute time frame indicating the bullish overtone of the markets.

We can clearly see an inverted hammer pattern above the $1254 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1554 and is moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance levels of 1568 and Fibonacci resistance levels of 1583 after which the path towards 1600 will get cleared.

The relative strength index is at 75 indicating an overbought market and the shift towards the correction and consolidation phase in the markets.

We can see that the commodity channel index is giving a bullish divergence signal in the 30-minute time frame.

Both the STOCH and Williams percent range are indicating an overbought market, which means that the prices are expected to decline in the short-term range.

Some of the technical indicators are giving a STRONG BUY market signal.

Some of the moving averages are giving a BUY signal, and we are now looking at the levels of $1650 to $1700 in the short-term range.

ETH is now trading above both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1254
(https://i.postimg.cc/Vvfrtssk/etx.png)

ETHUSD is now moving into a mildly bullish channel with the price trading above the $1500 handle in the European trading session today.

ETH touched an intraday high of 1583 in the Asian trading session and an intraday low of 1536 in the European trading session today.

The parabolic SAR indicator is giving a bullish reversal signal in the weekly time frame.

Moving average bullish crossovers are seen: AMA20 and AMA50 in the daily timeframe.

We can also see the formation of a bullish price crossover pattern with moving average MA20 in the weekly time frame.

Ethereum’s price continues to move into a bullish zone against the US dollar and is expected to move above the $1600 level.

The daily RSI is printing at 69 indicating a very strong demand for Ether in the long-term range.

The key support levels to watch are $1392 which is a 50% retracement from a 4-week low and 1439 which is a 38.2% retracement from 4-week high.

ETH has increased by 0.74% with a price change of 11.43$ in the past 24hrs and has a trading volume of 26.649 billion USD.

We can see a decrease of 29.89% in the total trading volume in the last 24 hrs which is due to the shift towards the consolidation phase in the markets.

The Week Ahead

After the recent declines, Ethereum’s price is extending upwards correction against the US dollar and bitcoin. We are now looking for a fresh rally into the markets towards the $1800 level.

We can see the formation of a major bullish trend line in place from $1254 towards $1745 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support levels of $1473 — 1273 which is a pivot point 1st support point.

The weekly outlook is projected at $1700 with a consolidation zone of $1600.

Technical Indicators:

The average directional index ADX (14): is at 42.29 indicating a BUY

The ultimate oscillator: is at 61.39 indicating a BUY

The bull/bear power (13): is at 126.52 indicating a BUY

The commodity channel index (14): is at 81.21 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-27th-oct-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 29, 2022, 12:43:44 PM
Watch FXOpen's October 24-28 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/BvhrTgYk/en-1.jpg) (https://youtu.be/MqVmgJ3FTFA)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 01, 2022, 07:57:40 PM
BTCUSD and XRPUSD Technical Analysis – 01st NOV 2022
(https://i.postimg.cc/zBZ17HnZ/btc.jpg)

BTCUSD: Inverted Hammer Pattern Above $19187

Bitcoin was unable to sustain its bearish momentum and after touching a low of 19187 on 24th Oct, the prices started to correct upwards crossing the $20500 handle.

We can see continued appreciation in the price of BTCUSD which is now trading above the 20500 in the European trading session today.

We can see the formation of a bullish harami pattern in the 30-minute time frame.

The resistance of the channel is broken in the 1-hourly time frame indicating the bullish tone of the markets.

We can clearly see an inverted hammer pattern above the $19187 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 20379 in the Asian trading session and an intraday high of 20657 in the European trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the price is expected.

The relative strength index is at 53 indicating a NEUTRAL demand for bitcoin and a shift towards the consolidation phase in the markets.

Bitcoin is now moving above its 100 hourly exponential moving average and above its 200 hourly exponential moving averages.

Most of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 21000 and 21500.

The average true range is indicating LESS market volatility with a mildly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $19187
(https://i.postimg.cc/MT7JFZDc/btcx.png)

We can now see that the price of bitcoin rocketed higher recently towards the monthly high of 20969 on 29th Oct, and we can now witness the formation of an ascending channel in the markets.

Bitcoin’s price is super bullish against the US dollar and bitcoin and now we are aiming towards crossing the $21000 and $22000 levels soon.

The adaptive moving average AMA20 and AMA50 are giving a bullish trend reversal signal.

The price of bitcoin is back over the pivot point in the daily time frame indicating the bullish overtone present in the markets.

We have also seen a bullish opening of the markets this week.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $19637 which is a 50% retracement from a 4-week high/low and the price needs to remain above this level for the continuation of the bullish reversal in the markets.

The price of BTCUSD is now facing its classic resistance level of 20628 and Fibonacci resistance level of 20667 after which the path towards 21500 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.25% by 51$ and has a 24hr trading volume of USD 45.266 billion. We can see an increase of 39.05% in the trading volume compared to yesterday, which is due to the heavy buying pressure seen in the global markets.

The Week Ahead

The price of bitcoin is moving in a strongly bullish zone above the $20500 levels. Further upsides are projected at $21500 and $22000 as the immediate targets.

Now we are aiming for $21710 which is a 50% retracement from 13 week high/low.

The daily RSI is printing at 59 which indicates a strong demand for bitcoin and the continuation of the buying pressure in the markets.

The price of BTCUSD will need to remain above the important support level of $20000 this week.

The weekly outlook is projected at $21500 with a consolidation zone of $22000.

Technical Indicators:

The moving averages convergence divergence MACD (12,26): is at 6.20 indicating a BUY.

The commodity channel index CCI (14): is at 138.28 indicating a BUY.

The rate of price change ROC: is at 1.22 indicating a BUY.

Bull/bear power (13): is at 128.67 indicating a BUY.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-01st-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 03, 2022, 03:21:56 PM
ETHUSD and LTCUSD Technical Analysis – 03rd NOV, 2022
(https://i.postimg.cc/ZqTsPdXw/eth.jpg)

ETHUSD: Bullish Engulfing Pattern Above $1483

Ethereum was unable to sustain its bearish momentum and after touching a low of 1488 on 28th Oct, the prices started to correct upwards against the US dollar. The prices of Ethereum touched a high of 1642 on 29th Oct after which we can see a shift towards the consolidation phase in the markets.

We can see that the MACD indicator is giving a bullish divergence signal in the 4-hour time frame

We can clearly see a bullish engulfing pattern above the $1483 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1544 and is moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance levels of 1548 and Fibonacci resistance level of 1552 after which the path towards 1600 will get cleared.

The relative strength index is at 48 indicating a neutral market and the shift towards a correction and consolidation phase in the markets.

We can see that the commodity channel index is giving a neutral signal which indicates a range bound movement for some time in the markets.

The STOCHRSI is indicating an overbought market, which means that the prices are expected to decline in the short-term range.

Some of the technical indicators are giving a BUY market signal.

Some of the moving averages are giving a BUY signal and we are now looking at the levels of $1650 to $1700 in the short-term range.

ETH is now trading below both its 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1254
(https://i.postimg.cc/cHCD2NxY/etx.png)

ETHUSD is now moving into a mildly bullish channel with the prices trading above the $1500 handle in the European trading session today.

ETH touched an intraday low of 1502 in the Asian trading session and an intraday low of 1558 in the European trading session today.

The RSI indicator is back over 50 indicating a bullish scenario.

We can see a bullish price crossover pattern with moving averages MA20 and MA100.

We can also see the formation of a bullish harami pattern in both the 2-hour and 4-hour time frames.

The MA20 is also indicating a bullish trend reversal signal in the weekly timeframe.

The daily RSI is printing at 60 indicating a strong demand for Ether in the long-term range.

The key support level to watch is $1427 which is a 50% retracement from a 4-week high/low and 1482 which is a 38.2% retracement from 4 week high/low.

ETH has decreased by 0.70% with a price change of 11.14$ in the past 24hrs and has a trading volume of 22.835 billion USD.

We can see an increase of 53.42% in the total trading volume in the last 24 hrs which is due to the continued buying seen at lower levels.

The Week Ahead

ETH price continues to remain in a bullish zone against the US dollar and bitcoin. ETHUSD is expected to move higher towards the $1600 and $1700 levels this week.

We can see the formation of a major bullish trendline in place from $1483 towards $1640 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral at present market conditions.

The prices of ETHUSD will need to remain above the important support level of $1513 which is a 38.2% retracement from 13-week low.

Weekly outlook is projected at $1750 with a consolidation zone of $1650.

Technical Indicators:

The STOCH (9,6): is at 77.85 indicating a BUY.

The rate of price change: is at 0.983 indicating a BUY.

The bull/bear power (13): is at 4.55 indicating a BUY.

High/lows(14): is at 9.01 indicating a BUY.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-03rd-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 05, 2022, 10:01:46 PM
Watch FXOpen's October 31 - November 4 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.imgur.com/IiTjadt.jpeg) (https://www.youtube.com/watch?v=TFOmMEvn4t0)

https://www.youtube.com/c/FXOpenOfficial[/youtube]"]FXOpen YouTube (http://"[youtube)[/B]

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 08, 2022, 09:19:25 PM
BTCUSD and XRPUSD Technical Analysis – 08th NOV 2022
(https://i.postimg.cc/L5PTpqbZ/21.jpg)

BTCUSD: Shooting Star Pattern Below $21470

Bitcoin was unable to sustain its bullish momentum and after touching a high of 21470 on 05th Nov, the price started to correct lower against the US dollar and is now trading below the $20000 handle in the European trading session.

We can see that the price is declining due to heavy selling pressure seen across the global crypto markets, and the price of bitcoin is expected to break below the $19000 handle this week.

We have seen a bearish opening of the markets this week.

We can see the formation of bearish engulfing lines in the 1-hour time frame.

The price of bitcoin is below the pivot point and camarilla S3 support level, indicating the bearish trends present in the market.

We can clearly see a shooting star pattern below the $21470 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 20666 and an intraday low of 19413 in the Asian trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 27 indicating a VERY WEAK demand for bitcoin, and the continuation of selling pressure in the markets.

Bitcoin is now moving below its 100 hourly exponential moving average and above its 200 hourly exponential moving average.

Most of the major technical indicators are giving a STRONG SELL signal, which means that in the immediate short term, we are expecting targets of 19000 and 18500.

The average true range is indicating HIGH market volatility with a strong bearish momentum.


Bitcoin: Bearish Reversal Seen Below $21470
(https://i.postimg.cc/jdVchXD6/22.png)

We can now see that the price of bitcoin failed to clear the $22000 handle and is now moving towards the $19000 level.

The MACD has crossed down its moving average in the daily time frame indicating a bearish trend.

The parabolic SAR indicator is giving a bearish reversal signal in the daily time frame.

We can see the formation of a bearish price crossover pattern with adaptive moving average AMA20 and AMA50 in the daily time frame.

We have also seen a black evening star in the weekly time frame.

The immediate short-term outlook for bitcoin is strongly bearish, the medium-term outlook has turned bearish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $19475 which is a 38.2% retracement from a 4 week low, and the price needs to remain above these levels for any potential bullish reversal in the markets.

The price of BTCUSD is now facing its classic support level of 19646 and Fibonacci resistance level of 19700 after which the path towards 19000 will get cleared.

In the last 24hrs, BTCUSD has decreased by 4.68% by 970$ and has a 24hr trading volume of USD 66.898 billion. We can see an increase of 51.65% in the trading volume compared to yesterday, which is due to the heavy selling pressure seen in the global markets.

The Week Ahead

The price of Bitcoin is moving in a strongly bearish zone below the $20000 level. Further downsides are projected at $19000 and $18500 as the immediate targets.

Now we are aiming for $19385which is an 18-day moving average.

The daily RSI is printing at 45 which indicates a neutral demand for bitcoin and a shift towards the consolidation phase in the markets.

The price of BTCUSD has already crossed below $19855 which is a 50% retracement from a 4-week high/low.

The weekly outlook is projected at $19000 with a consolidation zone of $19250.

Technical Indicators:

The moving averages convergence divergence MACD (12, 26): is at -303.10 indicating a SELL

The commodity channel index CCI (14): is at -107.49 indicating a SELL

The rate of price change ROC: is at -4.53 indicating a SELL

The bull/bear power (13): is at -775.38 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-08th-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 10, 2022, 10:33:02 PM
ETHUSD and LTCUSD Technical Analysis – 10th NOV, 2022
(https://i.postimg.cc/W4WZwdmc/eth.jpg)

ETHUSD: Hammer Pattern Above $1072

Ethereum was unable to sustain its bullish momentum, and after touching a high of 1654 on 05th Nov, the price started to decline against the US dollar touching a low of 1079 on 10th Nov, 2022.

Today we can see some upwards correction in the price of Ethereum which has touched $1200 handle in the European trading session.

We have seen a bullish opening of the markets this week.

We can clearly see a hammer pattern above the $1072 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1203 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1230 and Fibonacci resistance level of 1246 after which the path towards 1300 will get cleared.

The relative strength index is at 47 indicating a neutral market and a shift towards the correction and consolidation phase in the markets.

We can see that the price is back over the pivot point indicating a bullish scenario in the daily time frame.

The STOCHRSI is indicating an overbought market, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a BUY market signal.

Some of the moving averages are giving a BUY signal and we are now looking at the levels of $1350 to $1400 in the short-term range.

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1072
(https://i.postimg.cc/3J5v15GN/etx.png)

ETHUSD is now moving into a mildly bullish channel with the price trading above the $1150 handle in the European trading session today.

ETH touched an intraday low of 1127 in the Asian trading session and an intraday high of 1217 in the European trading session today.

We can see a bullish trend reversal signal with moving average MA50 in the 15-minute time frame.

Some of the technical indicators still continue to give bearish signals including the rate of price change.

The price of Ethereum is marching towards a nullish zone against the US dollar and bitcoin. ETHUSD could continue to move higher back towards the $1400 level.

The daily RSI is printing at 36 indicating a very weak demand for Ether in the long-term range.

The key support levels to watch are $1077 which is a 1-month low, and 1184 which is a pivot point.

ETH has increased by 1.79% with a price change of 20.91$ in the past 24hrs and has a trading volume of 36.854 billion USD.

We can see a decrease of 13.76% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

The price of ETH continues to remain in a bullish zone against the US dollar and bitcoin. ETHUSD is expected to move higher towards the $1300 and $1400 levels this week.

On the upside, we are now looking at the immediate targets of 1303 which is a 38.2% retracement from a 4-week low, and 1372 which is a 50% retracement from 4-week high/low.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support levels of $1188 which is the last support point.

The weekly outlook is projected at $1450 with a consolidation zone of $1350.

Technical Indicators:

The average directional index ADX (14): is at 37.20 indicating a BUY

The rate of price change: is at 3.057 indicating a BUY

The bull/bear power (13): is at 37.90 indicating a BUY

High/lows (14): is at 25.17 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-10th-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 13, 2022, 01:32:50 PM
Watch FXOpen's November 7 - 11 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/G2TfpLfm/week01.jpg) (https://www.youtube.com/watch?v=wssOntQVsIw)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 14, 2022, 07:02:23 AM
GBP/USD Climbs Higher, EUR/GBP Eyes Upside Break
(https://i.postimg.cc/76Gj2tQL/gbp.jpg)

GBP/USD started a recovery wave and climbed above the 1.1750 resistance. EUR/GBP is trading above the 0.8700 support and might eye a fresh increase.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis

The British Pound found support near the 1.1350 zone against the US Dollar. The GBP/USD pair started a recovery wave and was able to clear the 1.1550 resistance zone.

There was a decent increase above the 1.1650 level and the 50 hourly simple moving average. The pair even climbed above the 1.1750 level. A high was formed near 1.1852 on FXOpen and the pair is now consolidating gains.

GBP/USD Hourly Chart
(https://i.postimg.cc/rmB3CGvN/gbpx.jpg)

On the downside, an initial support is near the 1.1780 level. There is also a key bullish trend line forming with support near 1.1780 on the hourly chart of GBP/USD, below which it could test the 23.6% Fib retracement level of the upward move from the 1.1334 swing low to 1.1852 high.

The next major support is near the 1.1650 level and the 50 hourly simple moving average. Any more losses could lead the pair towards the 1.1600 support zone or the 50% Fib retracement level of the upward move from the 1.1334 swing low to 1.1852 high.

On the upside, an initial resistance is near the 1.1820 level. The next main resistance is near the 1.1850 zone. A clear upside break above the 1.1820 and 1.1850 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2000 level.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gbp-usd-climbs-higher-eur-gbp-eyes-upside-break/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 16, 2022, 02:31:47 AM
BTCUSD and XRPUSD Technical Analysis – 15th NOV 2022
(https://i.postimg.cc/VvtKj5DH/btc.jpg)

BTCUSD: Double Bottom Pattern Above $15590

Bitcoin was unable to sustain its bullish momentum and after touching a high of 20877 on 07th Nov, the prices started to decline against the US dollar touching a low of 15622 on 10th Nov.

After this decline we can see some correction in the price of bitcoin which is now trading above the 16500 in the European Trading session today.

We can see the formation of a bullish harami pattern in both the 30-minute and weekly time frames.

The RSI indicator is back over 50 indicating the bullish scenario present in the markets.

We can clearly see a double bottom pattern above the $15590 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 16364 in the Asian trading session and an intraday high of 16968 in the European trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 58 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly exponential moving average and below its 200 hourly exponential moving averages.

Most of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 17000 and 18500.

The average true range is indicating LESS market volatility with a mildly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $15590
(https://i.postimg.cc/2jL9pXrF/btcx.png)

We can now see that the price of bitcoin is moving in a mildly bullish momentum and we are expecting more correction waves in this week.

We can see the formation of a three white soldiers pattern in the 4-hour time frame.

We can see a bullish trend reversal signal with adaptive moving average AMA50 in the 2-hourly time frame.

The price of bitcoin is now moving in an up-channel formation above the $16000 handle.

Some of the technical indicators are also giving a neutral stance of the markets.

The immediate short-term outlook for bitcoin is strongly bullish,the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $16447 which is a pivot point, and $16783 which is a 14-3 day raw stochastic at 20%.

The price of BTCUSD is now facing its classic resistance level of 17015 and Fibonacci resistance level of 17090 after which the path towards 21500 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.36% by 59$ and has a 24hr trading volume of USD 41.390 billion. We can see an increase of 5.45% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of Bitcoin is moving in an ascending channel forming with support at $15850 on the hourly chart of the BTCUSD.

Both the MACD and RSI are now giving bullish divergence signals on the weekly time frame.

Now we are aiming for $17849 which is a 38.2% retracement from a 4-week low.

The daily RSI is printing at 36 which indicates a weaker demand for bitcoin and a shift towards the consolidation/correction phase in the markets.

The prices of BTCUSD will need to remain above the important support levels of $16000 this week.

The weekly outlook is projected at $18500 with a consolidation zone of $18000.

Technical Indicators:

The moving averages convergence divergence, MACD (12,26): is at 90.80 indicating a BUY

The commodity channel index, CCI (14): is at 72.52 indicating a BUY

The rate of price change, ROC: is at 3.18 indicating a BUY

The bull/bear power (13): is at 201.98 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-15th-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 17, 2022, 03:18:40 PM
ETHUSD and LTCUSD Technical Analysis – 17th NOV, 2022
(https://i.postimg.cc/L69V1P2W/eth.jpg)

ETHUSD: Bearish Engulfing Pattern Below $1349

Ethereum was unable to sustain its bullish momentum and after touching a high of 1349 on 10th Nov, the prices started to decline against the US dollar touching a low of 1171 on 14th Nov.

After this decline, we can see some upwards correction in the levels of Ethereum above the $1200 handle.

We have seen a bearish opening of the markets this week.

We can clearly see a bearish engulfing pattern below the $1349 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just below its pivot levels of 1204 and moving into a mildly bearish channel. The price of ETHUSD is now testing its classic support level of 1188 and Fibonacci resistance level of 1198 after which the path towards 1100 will get cleared.

The relative strength index is at 40 indicating a WEAK demand for Ether and the continuation of the selling pressure in the markets.

The prices are ranging near the horizontal resistance in the weekly time frame, indicating a bearish trend.

Both the STOCHRSI and Williams percent range are indicating oversold levels.

All of the technical indicators are giving a STRONG SELL market signal.

Most of the moving averages are giving a STRONG SELL signal and we are now looking at the levels of $1150 to $1100 in the short-term range.

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bearish Reversal Seen Below $1349
(https://i.postimg.cc/CLcsHKKx/etx.png)

ETHUSD is now moving in a mildly bearish channel with the prices trading below the $1300 handle in the European trading session today.

ETH continues to remain under pressure this month and fresh downsides are expected below the $1100 handle.

ETHUSD touched an intraday high of 1227 and an intraday low of 1193 in the Asian trading session today.

We can see a bullish price crossover pattern with moving averages MA50 and MA100 in the 1-hour time frame.

We can also see the formation of a black evening star pattern in the 15-minute time frame.

The daily RSI is printing at 38 indicating a very weak demand for Ether in the long-term range.

The key support level to watch is $1186 which is the last resistance level, and $1195 which is a 14-3 day raw stochastic at 20%

ETH has decreased by 3.15% with a price change of 38.81$ in the past 24hrs and has a trading volume of 11.524 billion USD.

We can see an increase of 1.46% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH price continues to remain in a bearish zone against the US dollar and bitcoin. ETHUSD is expected to move lower towards the $1100 and $11150 levels this week.

We can see the formation of a major bearish trend line in place from $1349 towards $1119 levels.

The immediate short-term outlook for Ether has turned mildly bearish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The prices of ETHUSD will need to remain above the important support levels of $1094 which is the 3rd support pivot point.

The weekly outlook is projected at $1150 with a consolidation zone of $1100.

Technical Indicators:

The relative strength index (14): is at 37.20 indicating a SELL

The rate of price change: is at -1.23 indicating a SELL

Bull/Bear power (13): is at -14.17 indicating a SELL

High/lows (14): is at -7.94 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-17th-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 20, 2022, 04:19:05 AM
Watch FXOpen's November 14 - 18 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/Y2QWGLQm/14-18-Nov-en.jpg) (https://youtu.be/CVtasE8dM4Q)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 22, 2022, 02:50:31 PM
BTCUSD and XRPUSD Technical Analysis – 22nd NOV 2022
(https://i.postimg.cc/cHqCSmGm/btc.jpg)

BTCUSD: Shooting Star Pattern Below $17110

Bitcoin was unable to sustain its bullish momentum and after touching a high of 17110 on 15th Nov, the prices started to decline against the US dollar touching a low of 15509 on 21st Nov.

The global demand for bitcoin continues to remain weak, and the prices are expected to break below the $15000 handle soon.

We can see the formation of bearish engulfing lines in the weekly time frame.

The RSI indicator is under 30 in the 4-hour time frame indicating the neutral signal and oversold markets.

We can clearly see a shooting star pattern below the $17110 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday low of 15524 and an intraday high of 15948 in the Asian trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 36 indicating a WEAK demand for bitcoin, and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 200 hourly exponential moving averages.

Most of the major technical indicators are giving a STRONG SELL signal, which means that in the immediate short term, we are expecting targets of 15500 and 15000.

The average true range is indicating LESS market volatility with a mildly bearish momentum.


Bitcoin: Bearish Reversal Seen Below $17110
(https://i.postimg.cc/C5SKZx1n/btcx.png)

We can now see that the price of bitcoin is moving in a mildly bearish momentum and we are expecting more downside waves in this week.

We can see that the support of the channel is broken in the daily time frame indicating bearish trends.

The price of bitcoin is ranging near a new record low of 1 month and 1 year’s time frame.

There is a descending channel forming which is expected to break the current support levels of bitcoin at $15716.

The immediate short-term outlook for bitcoin is strongly bearish, the medium-term outlook has turned bearish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $15516 which is a 1-month and 1-year’s low point.

The price of BTCUSD is now facing its classic support level of 15583 and Fibonacci support level of 15682 after which the path towards 15500 will get cleared.

In the last 24hrs BTCUSD has decreased by 2.09% by 334$ and has a 24hr trading volume of USD 33.191 billion. We can see an increase of 12.91% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is moving near the 1-year low and has already broken the support levels of $15980 which is the last pivot point.

We can see a bearish trend reversal signal with the moving average MA50 in the 15-minute time frame.

The daily RSI is printing at 31 which indicates a weaker demand for bitcoin and the continuation of the selling pressure in the markets.

The price of BTCUSD will need to remain above the important support level of $14688 which is a 3–10-day MACD oscillator stalls.

The weekly outlook is projected at $15500 with a consolidation zone of $15000.

The Collapse of FTX

The cryptocurrency exchange FTX, valued at $26.5 billion last year, collapsed, which sent ripples through the crypto market and became the primary driving force for Bitcoin which is near the record lows of its 1 year.

FTX faced a liquidity crisis, and in the hours following, experienced a possible hack in which hundreds of millions worth of tokens were stolen.

FTX filed for bankruptcy on Nov. 11, 2022. The future of FTX as a cryptocurrency exchange is in serious jeopardy. As of mid-November 2022, withdrawals are disabled and a notice on the FTX website says the company “strongly advises against depositing.”

Technical Indicators:

The moving averages convergence divergence, MACD (12,26): is at -116.00 indicating a SELL

The commodity channel index, CCI (14): is at -75.95 indicating a SELL

The rate of price change, ROC: is at -0.140 indicating a SELL

Bull/Bear power (13): is at -141.77 indicating a SELL

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-22nd-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 23, 2022, 12:27:30 PM
TOP-20 most powerful currencies in the world

(https://i.postimg.cc/hj7K8XXZ/main.jpg)

According to the United Nations, 180 currencies are legal tender, but when asked what is the strongest currency in the world, what comes to mind? The US dollar, which is strengthening because of the Fed’s hawkish monetary policy stance in response to skyrocketing inflation. Or the euro, despite the International Monetary Fund predicting just 0.5% growth in the European economy in 2023 and warning that “the worst is yet to come” due to the war in Ukraine, record inflation, and the impact of the COVID-19 pandemic. Perhaps the British pound, despite the UK’s challenging domestic picture? You’d be surprised to learn that there are currencies that outperform the trio.

FXOpen has compiled a list of the world's top-20 currencies in the world as of 2022. Learn which is number one, and which are stronger than USD, EUR, and GBP despite the latters’ title of the most famous, most traded, and most widely spread currencies of the world.

Trading currencies involves simultaneously buying one currency and selling another, which is known as currency comparison. In the following list, all currencies are quoted against one US dollar.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/top-20-most-powerful-currencies-in-the-world/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 25, 2022, 06:27:23 AM
ETHUSD and LTCUSD Technical Analysis – 24th NOV, 2022
(https://i.postimg.cc/wMMkcpyk/eth.jpg)

ETHUSD: Bullish Engulfing Pattern Above $1075

Ethereum was unable to sustain its bullish momentum and after touching a high of 1230 on 20th Nov, the prices started to decline against the US dollar touching a low of 1078 on 22nd Nov.

After this decline we can see some upwards correction in the levels of Ethereum towards the $1200 handle.

We can see a three white soldiers pattern in the daily time frame indicating the Bullish trend.

We can clearly see a bullish engulfing pattern above the $1075 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot levels of 1201 and moving into a strongly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1205 and Fibonacci resistance level of 1211 after which the path towards 1250 will get cleared.

The relative strength index is at 62 indicating a STRONG demand for Ether and the continuation of the buying pressure in the markets.

The Williams percent range is back over -50 in the daily time frame indicating a bullish sentiment.

The STOCHRSI is indicating an oversold level, which means that the prices are expected to correct upwards in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a BUY signal, and we are now looking at the levels of $1250 to $1300 in the short-term range.

ETH is now trading below its 100 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1075
(https://i.postimg.cc/5yrSsR8W/etx.png)

ETHUSD is now moving into a strongly bullish channel with the price trading above the $1100 handle in the European trading session today.

ETH continues to correct higher against the US dollar and is expected to stay above the $1200 level.

ETHUSD touched an intraday low of 1168 in the Asian trading session and an intraday high of 1217 in the European trading session today.

We can see the formation of both the bullish harami and bullish harami cross pattern in the 1-hour time frame.

The momentum indicator is back over zero in the 15-minute time frame.

The resistance of the channel is broken in the 1-hour time frame indicating a bullish trend.

The daily RSI is printing at 43 indicating a neutral demand for Ether in the long-term range.

The key support levels to watch are $1185 at which price crosses the 9-day moving average, and $1195 which is a 14-3 day raw stochastic at 20%.

ETH has increased by 3.00% with a price change of 35.00$ in the past 24hrs and has a trading volume of 11.226 billion USD.

We can see a decrease of 7.02% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH price continues to remain in a strongly bullish zone against the US dollar and bitcoin. ETHUSD is expected to correct higher towards the $1200 and $1300 levels this week.

We can see the formation of a major bullish trendline in place from $1075 towards $1234 level.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support levelsof $1144 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $1250 with a consolidation zone of $1200.

Technical Indicators:

The relative strength index (14): is at 62.17 indicating a BUY

The rate of price change: is at 2.80 indicating a BUY

Bull/bear power (13): is at 8.042 indicating a BUY

High/lows (14): is at 3.72 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-24th-nov-2022/)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 26, 2022, 11:54:58 AM
Watch FXOpen's November 21 - 25 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/3J54snP1/21-25-Nov-en.jpg) (https://www.youtube.com/watch?v=vjQPFMmQIX4)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 29, 2022, 05:38:26 PM
Crypto lender's demise sends fears into digital markets
(https://i.postimg.cc/FFWZFRHb/blockfi.jpg)

The unsurprising fall out from the catastrophic and high profile demise of cryptocurrency exchange FTX has begun to make its presence felt.

At the end of the working day in the United States, it became publicly known that BlockFi, a commercial lending company which was founded in 2017 to provide credit services to markets with limited access to simple financial products, had gone bankrupt.

At one point in its five-year lifespan, BlockFi was valued at an astronomical $3 billion, however, like so many components of the modern economy, BlockFi has gone from startup to billion-dollar hyperbole, to ashes in just 5 years.

BlockFi announced earlier this month that it had halted withdrawals, citing “significant exposure” to the FTX exchange in the immediate aftermath of its demise. What that really means is that BlockFi had borrowed money from FTX, and when FTX went to the wall, BlockFi's assets became the interest of receivers.

This has represented yet another dark day for the digital asset sector, and this time has highlighted how it is not just cryptocurrency exchanges with unscrupulous owners that can collapse like a house of cards, but also others offering bona fide financial services such as lending, which can have their lives claimed because the board of directors put its faith in individuals such as Sam Bankman-Fried.

The result of this news is that Bitcoin had dipped in value once again over night, but interestingly it is now rising in value as the European markets opened this morning.

Bitcoin now stands at just a touch over $16,450, but certainly there has been some volatile movement this morning due to the 'sailing close to the wind' nature that BlockFi has demonstrated.

It may well be easy to blame BlockFi's demise on its dealings with FTX, but actually BlockFi had already shown signs of financial strife before Mr Bankman-Fried headed for the hills with his customers' money.

Back in the summer of this year, BlockFi ran into financial trouble and managed to secure a $250 million emergency funding from FTX.

Because BlockFi owed FTX this sum, the receivers moved in on BlockFi when FTX went bankrupt. At that time, Mark Renzi of Berkley Research Group stated in a corporate announcement “With the collapse of FTX, the BlockFi management team and board of directors immediately took action to protect clients and the Company.”

BlockFi revealed in its Chapter 11 petition that its three largest creditor claims are a $729 million indenture from Ankura Trust, a distressed loan administration company, a $275 million loan from West Realm Shires, the holding company for FTX’s US subsidiary, as well as a $30 million settlement payment to the U.S. Securities and Exchange Commission.

Big debts and a big bankruptcy. The question remains, is it a buyers market right now, or are the bears still out in force?

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/crypto-lenders-demise-sends-fears-into-digital-markets/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 29, 2022, 06:02:49 PM
BTCUSD and XRPUSD Technical Analysis – 29th NOV 2022
(https://i.postimg.cc/25zpRwG8/btc.jpg)

BTCUSD: Bullish Engulfing Pattern Above $15510

Bitcoin was unable to sustain its bearish momentum and after touching a low of 15510 on 21st Nov, the price started to correct upwards against the US dollar crossing the $16500 handle today in the European trading session.

The price of bitcoin continues to rise after the recent crash and now we are looking to cross the $17000 handle soon.

We can see the formation of bullish engulfing lines in the daily time frame.

The CCI indicator is giving a bullish divergence signal in the daily time frame.

We can clearly see a bullish engulfing pattern above the $15510 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 16124 in the Asian trading session and an intraday high of 16536 in the European trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 63 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and 200 hourly exponential moving average.

Most of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 17000 and 17500.

The average true range is indicating LESS market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $15510
(https://i.postimg.cc/tgDKXxvd/btcx.png)

We can now see that the price of Bitcoin is moving in a strong bullish momentum and we are expecting more upside waves this week.

The Williams percent range indicator is back over -50 indicating a bullish scenario in the daily time frame.

The MACD has crossed UP its moving average in the 4-hour time frame indicating bullish trends.

We can see the formation of a bullish price crossover pattern with an adaptive moving average AMA100 in the 4-hour time frame.

The price of bitcoin is ranging near the support of the channel in the 15-minute time frame indicating a bullish trend.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $16155 which is a 14-3 day raw stochastic at 20%.

The price of BTCUSD is now facing its classic resistance level of 16536 and Fibonacci resistance level of 16550 after which the path towards 17000 will get cleared.

In the last 24hrs, BTCUSD has increased by 1.92% by 310$, and has a 24hr trading volume of USD 26.099 billion. We can see an increase of 3.95% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of Bitcoin is expected to enter the super bullish zone above the $17000 handle. There is an ascending channel forming with current support at $15510 on the hourly chart of BTCUSD.

We can see that the MACD indicator is back over zero in the 2-hour time frame indicating the bullish scenario present in the markets.

The daily RSI is printing at 41 which indicates a weaker demand for bitcoin and the possibility of a shift towards the consolidation/correction phase for a short term in the markets.

The price of BTCUSD is now facing its resistance zone at $17113 which is a 14-3 day raw stochastic at 50%.

The weekly outlook is projected at $17500 with a consolidation zone of $17000.

Technical Indicators:

The moving averages convergence divergence, MACD (12,26): is at 48.30 indicating a BUY

The commodity channel index, CCI (14): is at 93.27 indicating a BUY

The rate of price change, ROC: is at 1.537 indicating a BUY

The bull/bear power (13): is at 217.36 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-29th-nov-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 30, 2022, 12:43:05 PM
Bitcoin responds positively as Brazil welcomes crypto payments
(https://i.postimg.cc/X7XVdRYw/btc.jpg)

Within Latin America, Brazil has for many years been a burgeoning economic force.

It is a large nation with a diversified economy, ranging from manufacturing and engineering to banking and tertiary services and is part of the all-important BRICS (Brazil, India, China, South Africa) economic bloc.

Like all other nations in South America, Brazil is a developing economy, but it has been rapidly developing and is far ahead of all of the other national economies in the continent.

Today, Brazil's government has taken a very prominent step forward in announcing that the country's lawmakers have approved a bill which regulates Bitcoin and other cryptocurrencies as a payment instrument.

Investors appear to have responded well to the news, as Bitcoin began to pump almost immediately, followed by a short squeeze and then it pumped again.

Bitcoin is currently trading at $16,876.80, which is a 2.68% increase over yesterday's value. That may not sound very much on the face of it, but Bitcoin values have been very stagnant recently, so a 2.68% increase when viewed on the chart is quite significant.

Private individuals and businesses have a lot to gain from the new ruling which allows cryptocurrency to be used as a method of payment, because South American economies for many decades now have been synonymous with rampant inflation, draconian capital control laws causing people to lose their money when it depreciates, and in many countries in South America, a deep-seated distrust in the local banking infrastruture or government policy.

Around 10 years ago, neighboring Argentina ordered the liquidation of US Dollar bank accounts held in North America by Argentinian citizens, and that the US Dollars should be repatriated to Argentina and converted to Pesos. At the same time, capital controls were invoked so that nobody could transfer their Pesos out of the country without government permission.

This meant that anyone who adhered to that rule would be at grave risk of substantial loss due to a terrible conversion rate and then having to store Pesos which are notorious for depreciating at the rate of an iron girder falling off a cliff.

At that time, Bitcoin was in its absolute infancy, and still very much an unknown quantity. It had a tiny following of enthusiasts and 1 Bitcoin was worth something like $50, however a core group of Argentinian enthusiasts began to rally the cause of Bitcoin, largely because they saw it as an independent method of conducting their everyday life without the restrictions and inflationary chaos associated with Peso.

Now, many years later, Bitcoin and many other cryptocurrencies are very established globally, and South America's largest economy is opening its doors to them.

If this paves the way for greater acceptance across the South American continent, it could well be a boon for citizens as well as for the cryptocurrency market itself.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/bitcoin-responds-positively-as-brazil-welcomes-crypto-payments/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 01, 2022, 03:57:20 PM
ETHUSD and LTCUSD Technical Analysis – 01st DEC, 2022
(https://i.postimg.cc/kGJTsPtN/eth.jpg)

ETHUSD: Piercing Pattern Above $1151

Ethereum was unable to sustain its bearish momentum and after touching a low of 1151 on 23rd Nov, the price started to correct upwards against the US dollar crossing the $1300 handle today in the Asian trading session.

After touching $1300 handle we can see some downward correction in the levels of Ethereum which is expected to enter into a consolidation phase now.

We can see the formation of bullish engulfing lines in the 2-hour time frame.

We can clearly see a piercing pattern above the $1151 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1284 and is moving into a consolidation channel. The price of ETHUSD is now testing its classic resistance level of 1290 and Fibonacci resistance level of 1296 after which the path towards 1300 will get cleared.

The relative strength index is at 67 indicating a STRONG demand for Ether and the continuation of the buying pressure in the markets.

We can see both the bullish harami and bullish harami cross pattern in the 15-minute time frame.

Both the STOCH and STOCHRSI are indicating overbought levels, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1300 to $1350 in the short-term range.

ETH is now trading above its 100 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1151
(https://i.postimg.cc/SQdTsRwg/etx.png)

ETHUSD is now moving into a mildly bullish channel with the prices trading above the $1200 handle in the European trading session today.

ETH is now preparing to enter into a consolidation phase above the $1250 handle, after which fresh upside waves are expected.

ETHUSD touched an intraday high of 1304 in the Asian trading session and an intraday low of 1277 in the European trading session today.

We can see a bullish trend reversal signal with adaptive moving averages AMA20 and AMA50 in the 15-minute time frame.

The resistance of the channel is broken in the daily time frame indicating a bullish trend.

The daily RSI is printing at 52 indicating a neutral demand for Ether in the long-term range.

The key support levels to watch are $1202 which is a 14-3 day raw stochastic at 70% and $1211 at which price crosses 18 day moving average.

ETH has increased by 1.19% with a price change of 15.13$ in the past 24hrs and has a trading volume of 7.849 billion USD.

We can see a decrease of 2.57% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH price continues to remain under bullish pressure and after the current consolidation wave is over, we can expect fresh upsides in the ranges of $1300 and $1400 this week.

We can see the formation of a major bullish trendline in place from $1151 towards $1295 levels.

The immediate short-term outlook for Ether has turned bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1208 at which the price crosses the 9-day moving average stalls.

The weekly outlook is projected at $1400 with a consolidation zone of $1350.

Technical Indicators:

The relative strength index (14): is at 67.69 indicating a BUY

The rate of price change: is at 9.65 indicating a BUY

The bull/bear power (13): is at 46.55 indicating a BUY

The high/lows (14): is at 33.40 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-01st-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 02, 2022, 06:31:18 PM
Watch FXOpen's November 28 - December 2 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/qB24mg9r/wmw02dec.jpg) (https://www.youtube.com/watch?v=l9NQzvRji28)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 05, 2022, 02:32:30 PM
Brent Crude Oil is on the up as G7 price cap deals blow
(https://i.postimg.cc/wMHrft7x/oil.jpg)

The price of Brent Crude oil is once again on the rise, after a slow and steady decline during early to mid November bottomed out at $76.28 per barrel on November 26.

Since then, the price has been increasing, and today Brent Crude Oil (WTI) is trading at $81.41 per barrel which is a two week high.

This could partly be down to the price cap for oil purchases from Russia having been set by the European Union at $60 per barrel.

This was set late last week in the form of a limit on the price of Russian seaborne crude and therefore constrain revenues the Kremlin makes from the commodity.

However, the market price of crude oil was at the time around $79 per barrel, meaning that the Russian oil companies refused to sell oil to European Union member states which adhered to this price cap, because it is far below the market value.

As a result, demand increased as the potential supply of crude oil to Europe could be affected by the price cap in which European oil purchasers would be expected to adhere to a policy of paying approximately $20 per barrel less than market value for oil imported from Russian oil giants, an offer which of course has been declined by said oil giants as there is no way they will sell oil to commercial clients for three quarters of its real value.

At the end of last week, Russian energy industry had issued a warning that an oil price cap could wreak havoc on the energy markets and push commodity prices even higher. They weren't wrong.

According to an official document from the European Union, this price limit would be subject to regular review in order to monitor its market ramifications. The document stated that the price should be “at least 5% below the average market price" however the $60 that the cap is currently set at is more than 20% less than the average market value of crude oil.

Given that Russia is an OPEC nation and one of its major national industries is the extraction, refinement and export of raw materials for energy generation, there is no likelihood that Russian energy firms would accept this price for oil products.

The raw materials that the Russian economy relies so heavily on are consumable commodities, traded on global exchanges and with the ability to be used as collateral to back economic asset classes and against national debts. These are liquid gold and therefore will be valued and treated as such.

Volatility in the oil market is here once again.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/brent-crude-oil-is-on-the-up-as-g7-price-cap-deals-blow/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 06, 2022, 04:47:47 PM
BTCUSD and XRPUSD Technical Analysis – 06th DEC 2022
(https://i.postimg.cc/k5d0Sr53/btc.jpg)

BTCUSD: Inverted Hammer Pattern Above $16009

Bitcoin was unable to sustain its bearish momentum and after touching a low of 16009 on 28th Nov, the prices started to correct upwards against the US dollar crossing the $17000 handle on 06th Dec.

We have seen a continued escalation in the prices of bitcoin due to the increasing global demands and buying at lower levels.

The resistance of the channel is broken in the 15-minute time frame indicating bullish trends.

We can see a bullish trend reversal pattern with the adaptive moving averages, AMA5, in the 15-minute time frame, and AMA20 in the 30-minute time frame.

We can clearly see an inverted hammer pattern above the $16009 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an Intraday low of 16924 and an intraday high of 17098 in the Asian trading session today.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 50 indicating a NEUTRAL demand for bitcoin, and the shift towards the consolidation channel in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and its 200 hourly exponential moving averages.

Most of the major technical indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 18000 and 18500.

The average true range is indicating LESS market volatility with a mildly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $16009
(https://i.postimg.cc/d1sgW8d5/btcx.png)

We can now see that the price of bitcoin is moving in a mildly bullish momentum and we are expecting moves towards the consolidation phase before any upwards rebound this week.

The RSI indicator is back over 50 indicating a bullish scenario in the daily time frame.

The ichimoku – bullish crossover: tenkan & kijun pattern is seen in the daily time frame indicating bullish trends.

We can see the formation of an inverted hammer / white gravestone pattern in the weekly time frame.

The price of bitcoin has crossed the $17000 handle today ranging near to a three-week High.

The immediate short-term outlook for bitcoin is mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $16716 at which the price crosses the 9-day moving average.

The price of BTCUSD is now facing its classic resistance level of 17300 and Fibonacci resistance level of 17627 after which the path towards 18000 will get cleared.

In the last 24hrs BTCUSD has decreased by 1.85% by 320$ and has a 24hr trading volume of USD 18.733 billion. We can see a decrease of 12.48% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of Bitcoin is expected to enter the super bullish zone above the $17000 handle. There is an ascending channel forming with current support at $16395 on the hourly chart of BTCUSD.

We are now preparing to enter the super bullish zone in bitcoin and the prices are expected to gain 100% from the current market levels of $17000 towards $34000 in the starting of next year.

We can see a continuous progression of a bullish trend line formation from $16009 towards the $17169 levels.

The daily RSI is printing at 47 which indicates a NEUTRAL demand for bitcoin and the possibility of a shift towards the consolidation/correction phase for a short term in the markets.

The price of BTCUSD is now facing its resistance zone at $17810 at which the price crosses 18-day moving average stalls.

The weekly outlook is projected at $18500 with a consolidation zone of $18000.

Technical Indicators:

The average directional index, ADX (14): is at 27.55 indicating a BUY

The commodity channel index, CCI (14): is at 84.15 indicating a BUY

The rate of price change, ROC: is at 4.84 indicating a BUY

Bull/bear power (13): is at 410.57 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-06th-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 07, 2022, 09:54:10 PM
S&P500 closes lower for fourth day as recession fears bite
(https://i.postimg.cc/gkXGRfbg/stocks.jpg)

The S&P500 index closed yesterday at its lowest point in four days following a steady decline as investors in American stocks concern themselves with the possibilities of a recession.

The prestigious index which contains some of Wall Street's most heralded blue chip giants lost 1.44% to close at 3,941.26, while the Nasdaq Composite sank 2% to finish at 11,014.89. The Dow Jones Industrial Average dropped 350.76 points, or 1.03%, to settle at 33,596.34.

The majority of the losses in this week's retraction in US stock values have been caused by bank stocks as well as shares in some media companies, which is perhaps in line with the concern about exposure to unserviceable debt by individuals and businesses should a recession bite.

Investment banks are taking a cautious stance, and Morgan Stanley this week released news that it plans to make redundancies amounting to approximately 2% of its workforce, and whilst inflation in the United States has actually decreased and is now standing at around 7.7%, it is well over 10 in the UK and in some parts of Europe, where many large American corporations have substantial operations and have to fork out more capital to keep pace with the increasing price of everything from materials to logistical costs and wages.

When considering yesterday's declines, the S&P is now down 3.2% this week and the NASDAQ has decreased in value by 3.9%.

The Federal Reserve is still looking at interest rates and has taken a very conservative approach, but it appears that analysts and investors have not ruled out the possibility of a recession taking place across the United States in 2023, even if it is not likely to be to the same extent as the impending recessions in Europe and the United Kingdom.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/s-p500-closes-lower-for-fourth-day-as-recession-fears-bite/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 08, 2022, 03:51:35 PM
ETHUSD and LTCUSD Technical Analysis – 08th DEC, 2022
(https://i.postimg.cc/jdKYdw0r/eth.jpg)

ETHUSD: Double Bottom Pattern Above $1218

Ethereum was unable to sustain its bearish momentum and after touching a low of 1211 on 07th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle today in the European trading session.

We can see the formation of a bullish harami pattern in the 15-minute time frame indicating a bullish trend.

The Williams percent range indicator is back over -50 in the 2-hour time frame.

We can clearly see a double bottom pattern above the $1218 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1232 and moving into a consolidation channel. The price of ETHUSD is now testing its classic resistance level of 1234 and Fibonacci resistance level of 1235 after which the path towards 1300 will get cleared.

The relative strength index is at 53 indicating a NEUTRAL demand for Ether and the continuation of the consolidation phase in the markets.

We can see both the bullish harami and bullish harami cross pattern in the daily time frame.

Both the relative strength index and the average directional index are indicating neutral levels, which means that the prices are expected to remain in a narrow range in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1300 to $1400 in the short-term range.

ETH is now trading below its 100 hourly simple and 200 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1218
(https://i.postimg.cc/Pr4sLXTv/etx.png)

ETHUSD is now moving into a mild bullish channel with the price trading above the $1200 handle in the European trading session today.

ETH is now preparing to enter into a consolidation phase above the $1230 handle, after which fresh upside waves are expected.

ETHUSD touched an intraday high of 1234 and an intraday low of 1223 in the Asian trading session today.

We have seen a bullish opening in the markets this week.

The daily RSI is printing at 47 indicating a neutral demand for Ether in the long-term range.

The key support levels to watch are $1191, which is a 14-3 day raw stochastic at 50%, and $1215 at which price crosses 18 Day Moving Average.

ETH has increased by 0.09% with a price change of 1.07$ in the past 24hrs and has a trading volume of 4.698 billion USD.

We can see a decrease of 24.01% in the total trading volume in the last 24 hrs which appears to be Normal.

The Week Ahead

ETH price continues to remain under mild bullish pressure and the prices are expected to remain in a bullish traction this week.

After the current wave of consolidation gets over, we are expecting fresh buying pressure above the $1200 handle which will push the price above the $1300 level.

The immediate short-term outlook for Ether has turned bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1199 at which the price crosses 9-day moving average stalls.

The weekly outlook is projected at $1400 with a consolidation zone of $1350.

Technical Indicators:

The relative strength index (14): is at 53.20 indicating a NEUTRAL.

The STOCH (9,6): is at 69.01 indicating a BUY

The MACD (12,26): is at 0.350 indicating a BUY

Bull/bear power (13): is at 1.498 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-08th-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 10, 2022, 08:50:34 PM
Watch FXOpen's December 5 - 9 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video and stay updated with FXOpen.

(https://i.postimg.cc/nzrjpDzH/5-9-Dec-en.jpg) (https://www.youtube.com/watch?v=X4y3QVZmVk0)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 13, 2022, 10:38:52 PM
Crypto winter continues big freeze with values as frosty as weather
(https://i.postimg.cc/VvTMQW42/crypto.jpg)

The weather across parts of Northern Europe and the United Kingdom this week has suddenly turned, and even areas which are ordinarily not associated with snowfall have been covered in a white blanket for a few days.

Travel disruptions at airports have taken place, and a minus figure has been displayed on temperature gauges since Monday.

Finally the real winter weather is here, however the term 'crypto winter' has been in place for quite some time, despite the unusually warm weather during October and November, during which it was not uncommon to see people wearing summer clothes and sitting outside cafes.

The only real sign of winter in the unusually long and pleasant summer conditions was the use in the financial markets sector of the term 'crypto winter', which does not refer to seasons or weather conditions, but instead the 'frozen' values of cryptocurrencies in which prices contract and remain low for an extended period.

Well, now there is a seasonal winter and a crypto winter at the same time.

Bitcoin values once again took a tumble during the early hours of this morning, and by 7.20am UK time, had reached a low point of $17,125 per Bitcoin against the US Dollar.

Over the two hours which ensued, Bitcoin made some headway, increasing to $17,177 but that is still 0.21% down overall during today compared to yesterday.

Looking over the five day moving average, however, the dip in value appears to have been present for a longer period of time. On December 12, values plunged and did not recover until the middle of the morning on December 13, and a 0.44% reduction in value is displayed when charting Bitcoin's performance over the past five days.

Although we certainly still are well ensconced in the Crypto Winter scenario, things are a little brighter than they were last month however. The sun may have been shining across Europe but Bitcoin values were even lower than they are now.

Bitcoin has actually risen by over 5% in value over the course of the past 30 days, so the snow may have fallen and the winter clothes been suddenly put to use, but is this the beginning of the big thaw for the Crypto Winter?

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/crypto-winter-continues-big-freeze-with-values-as-frosty-as-weather/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.





Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 15, 2022, 02:54:03 PM
ETHUSD and LTCUSD Technical Analysis – 15th DEC, 2022
(https://i.postimg.cc/1X7nhjPw/eth.jpg)

ETHUSD: Three White Soldiers Pattern Above $1222

Ethereum was unable to sustain its bearish momentum and after touching a low of 1222 on 08th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1250 handle today in the European trading session.

We can see the formation of a bullish doji star pattern in the 1-hour time frame indicating bullish trends.

The commodity channel index indicator is giving a bullish divergence signal in the 1-hour time frame.

We can clearly see a three white soldiers pattern above the $1222 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1286 and is moving into a consolidation channel. The price of ETHUSD is now testing its classic resistance level of 1287 and Fibonacci resistance level of 1288 after which the path towards 1300 will get cleared.

The relative strength index is at 48 indicating a NEUTRAL demand for Ether and the continuation of the consolidation phase in the markets.

The resistance of the channel is broken on the daily time frame.

The STOCHRSI is indicating an OVERBOUGHT level, which means that the prices are expected to decline in the short-term range.

Some of the technical indicators are giving a BUY market signal.

Most of the moving averages are giving a NEUTRAL signal due to the market consolidation seen below the $1300 handle.

ETH is now trading below both the 100 hourly simple and 200 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1222
(https://i.postimg.cc/J4tHcMcq/etx.png)

ETHUSD is now moving into a consolidation/correction channel with the price trading below the $1300 handle in the European trading session today.

The prices of Ethereum are ranging near the support of the channel indicating bullish trends.

The MACD indicator is now giving a bullish divergence signal in the 30-minute time frame.

The price of Ethereum broke the $1300 level and then we can see some decline due to short selling of Ether which caused the dip below the $1300 level.

ETHUSD touched an intraday high of 1314 and an intraday low of 1281 in the Asian trading session today.

We have seen a bullish opening in the markets this week.

The daily RSI is printing at 51 indicating a neutral demand for Ether in the long-term range.

The key support levels to watch are $1210 which is a 14-3 day raw stochastic at 30%, and $1244 which is a 38.2% retracement from 4 Week High.

ETH has decreased by 2.50% with a price change of 33.04$ in the past 24hrs and has a trading volume of 8.409 billion USD.

We can see an increase of 0.58% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

The price of ETH has now entered into a consolidation/correction zone, and after this we are expecting fresh upside waves crossing the $1300 and $1400 levels.

ETHUSD continues to gain bullish traction from a weekly time frame from a 4-hour time frame with the bottom support located at $1075 touched on 22nd Nov.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1243 at which the price crosses the 18-day moving average.

The resistance zone is located at $1291 at which the price crosses 9-day moving average stalls.

The weekly outlook is projected at $1350 with a consolidation zone of $1300.

Technical Indicators:

The Williams percent range: is at -24.78 indicating a BUY

The commodity channel index (14): is at 62.01 indicating a BUY

High/Lows (14): is at 0.3436 indicating a BUY

Bull/Bear power (13): is at 0.6240 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-15th-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 18, 2022, 08:16:52 AM
Watch FXOpen's December 12 - 16 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video and stay updated with FXOpen.

(https://i.postimg.cc/wM1cqYzk/12-16-Dec-eng.png) (https://www.youtube.com/watch?v=1gIOxMiH64A)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 20, 2022, 02:56:35 AM
FTSE 100 begins slow recovery from 1 month low
(https://i.postimg.cc/qRT2FGXJ/ftse-100-1.jpg)

The FTSE 100 index , which is the index containing the 100 most prestigious companies on the London stock exchange plummeted to a one month low on Friday.

There has been some degree of volatility in that particular index during the course of the last 30 days, but overall it has been quite steady and fans back each day.

On Friday, December 16 however, it’s suddenly plunged to 7306, representing its lowest point by far in over 30 days.

Just three days earlier the FTSC 100 index was standing at a very healthy 7526 so to plunge more than 200 points in three days is quite a downward spiral.

Perhaps some of the reason, for it is actually short term rather than anything to do with an overall lingering knowledge that the UK economy is generally struggling and has been for some time.

In fact, some analysts are noting that this is more to do with strikes in the public sector which are taking place during the course of this week having started on Friday last week, which coincides with the sudden plunge of the FTSE 100 index, and that these public sector strikes which affect the logistics and civil service could impede the operations of large corporations.

This would make sense, because of course, everybody is already accustomed to the difficulty economic circumstances which surround the overall UK economy there for such circumstances, would not be likely to have caused the sudden downturn in share performance.

It is, therefore, perhaps, worth looking out for how the FTSE 100 index performs after the strikes have finished and a possible settlement with workers unions may well be reached.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ftse-100-begins-slow-recovery-from-1-month-low/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 21, 2022, 02:25:55 AM
BTCUSD and XRPUSD Technical Analysis – 20th DEC 2022
(https://i.postimg.cc/SR0HBjrb/btc.jpg)

BTCUSD: Bullish Harami Pattern Above $16325

Bitcoin was unable to sustain its bullish momentum and after touching a high of $18360 on 14th Dec, the price started to decline against the US dollar coming down below the $16500 handle in the early Asian trading session today.

The price of bitcoin has since bounced back from its lows touching $16800 levels in the European Trading session today.

We have seen a bullish opening of the markets this week.

We can clearly see a bullish harami pattern above the $16325 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 16322 in the Asian trading session and an intraday high of 16846 in the European trading session today.

We can see the formation of the bullish trend reversal pattern with the adaptive moving average AMA20 and MA20 in the 4-hour time frame.

Both the RSI and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 75 indicating an OVERBOUGHT level for bitcoin, and the possibility of an immediate correction in the price towards the $16500 levels.

Bitcoin is now moving above its 100 hourly simple moving average and below its 200 hourly exponential moving average.

All of the major technical Indicators are giving a STRONG BUY signal, which means that in the immediate short term, we are expecting targets of 17000 and 18500.

The average true range is indicating high market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $16325
(https://i.postimg.cc/C5j9SYPB/btcx.png)

We can now see that the price of bitcoin is moving in a mildly bullish momentum, and we are expecting moves towards the $17000 levels before any market consolidation this week.

Some of the technical indicators are also giving a neutral tone of the markets.

We are now waiting for the next upwards leg above the $17500 handle which will push the prices towards the $18000 level.

The price of bitcoin is expected to enter into a super bullish zone after crossing the $18000 level.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $16329 which is a 3-10 day MACD oscillator stalls.

The price of BTCUSD is now facing its classic resistance level of 16862 and Fibonacci resistance level of 16885 after which the path towards 17500 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.28% by 47.59$ and has a 24hr trading volume of USD 21.646 billion. We can see an increase of 72.88% in the trading volume compared to yesterday, which is due to heavy buying action seen at lower levels.

The Week Ahead

Bitcoin’s price is gaining pace above the $16000 handle and might soon break the $17000 level for more gains above $18000.

The price of Bitcoin has failed to clear the resistance at $18360 and we are now again testing the $18000 level soon.

The start of the festive season with Christmas and New Year holidays might dampen the interest of the global investors, and we will have to wait for the New Year 2023.

The daily RSI is printing at 46 which indicates a NEUTRAL demand for bitcoin and the possibility of a shift towards the consolidation/correction phase for a short term in the markets.

The price of BTCUSD is now facing its resistance zone at $17789 which is a 38.2% retracement from a 13 week low.

The weekly outlook is projected at $18000 with a consolidation zone of $17500.

Technical Indicators:

The average directional index, ADX (14): is at 36.24 indicating a BUY

The ultimate oscillator: is at 58.98 indicating a BUY

The rate of price change, ROC: is at 1.246 indicating a BUY

Bull/bear power (13): is at 144.44 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-20th-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 22, 2022, 03:53:35 PM
ETHUSD and LTCUSD Technical Analysis – 22nd DEC, 2022
(https://i.postimg.cc/nLVd4Wq8/eth.jpg)

ETHUSD: Bullish Harami Pattern Above $1152

Ethereum was unable to sustain its bearish momentum and after touching a low of 1152 on 20th Dec, the price started to correct upwards against the US dollar crossing the $1200 handle today in the European trading session.

We have seen a bullish opening of the markets this week.

We can clearly see a bullish harami pattern above the $1152 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1217 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1221 and Fibonacci resistance level of 1224 after which the path towards 1300 will get cleared.

The relative strength index is at 59 indicating a strong demand for Ether and the continuation of the bullish phase in the markets.

We can see the formation of bullish engulfing lines in the 4-hour time frame.

Both the STOCHRSI and Williams percent range are indicating an overbought market, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1350 to $1400 in the short-term range.

ETH is now trading above its 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1152
(https://i.postimg.cc/Y9hbVmXb/etx.png)

ETHUSD is now moving into a mildly bullish channel with the price trading above the $1200 handle in the European trading session today.

ETH touched an intraday low of 1209 in the Asian trading session and an intraday high of 1220 in the European trading session today.

We can see that the price is back over the pivot point in the 4-hour time frame.

The parabolic SAR indicator is giving a bullish reversal signal in the 2-hour time frame.

The Ichimoku price is over the cloud in the 2-hour time frame indicating a bullish tone of the markets.

The price of Ethereum is marching towards a bullish zone against the US dollar and bitcoin. ETH/USD could continue to move higher back towards the $1400 level.

The daily RSI is printing at 47 indicating a NEUTRAL demand for Ether in the medium-term range.

The key support levels to watch are $1184 which is a 3-10 day MACD oscillator stalls, and $1191 which is a 14-3 day raw stochastic at 20%.

ETH has increased by 0.20% with a price change of 2.43$ in the past 24hrs and has a trading volume of 37.617 billion USD.

We can see a decrease of 29.77% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH’s price continues to remain in a bullish zone against the US dollar and bitcoin. ETHUSD is expected to move higher towards the $1300 and $1400 levels this week.

On the upside we are now looking at the immediate targets of 1303 which is a 38.2% retracement from a 13-week low, and 1372 which is a 50% retracement from 13-week high/low.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1172 at which the price crosses 18-day moving average stalls.

The weekly outlook is projected at $1450 with a consolidation zone of $1350.

Technical Indicators:

The average directional index, ADX (14): is at 33.73 indicating a BUY

The rate of price change: is at 0.694 indicating a BUY

Bull/bear power (13): is at 9.48 indicating a BUY

High/lows (14): is at 2.49 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-22nd-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 24, 2022, 03:25:55 AM
FXOpen 2022 Market Year Wrap With Gary Thomson

The turbulent trading year of 2022 is soon coming to an end, therefore FXOpen UK COO Gary Thomson has taken the chance to reflect on the major market events of the year. Watch now!


Watch our short and informative video and stay updated with FXOpen.

(https://i.postimg.cc/L6fHkKPs/19-22-Dec-eng-newest.jpg) (https://www.youtube.com/watch?v=XbUc9v23EJ8)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 28, 2022, 05:20:21 AM
BTCUSD and XRPUSD Technical Analysis – 27th DEC 2022
(https://i.postimg.cc/vB4NXbFv/btc.jpg)

BTCUSD: Three White Soldiers Pattern Above $16323

Bitcoin was unable to sustain its bearish momentum and after touching a low of $16387 on 20th Dec, the prices started to correct upwards against the US dollar and are now ranging above the $16500 handle in the European trading session.

We have seen a bullish opening of the markets this week.

We can clearly see a three white soldiers pattern above the $16323 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 16826 and an intraday high of 16970 in the Asian trading session today.

The prices are ranging near the support of the channel in the 1-hour time frame indicating a bullish tone of the markets.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term a decline in the prices is expected.

The relative strength index is at 51 indicating a NEUTRAL level for bitcoin, and the shift towards the consolidation phase in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and below its 100 hourly exponential moving average.

Some of the major technical indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of 17000 and 18000.

The average true range is indicating LESS market volatility with a mildly bullish momentum.


Bitcoin: Bullish Reversal Seen Above $16323
(https://i.postimg.cc/SQzPMSGS/btcx.jpg)

We can now see that the price of bitcoin is moving in a mildly bullish momentum and we are expecting moves towards the $17000 level before any market consolidation this week.

Some of the technical indicators are also giving a neutral tone of the markets.

We are now waiting for the next upwards leg above the $17000 handle which will push the price towards the $18000 levels.

We can see the formation of the bullish trend reversal pattern with adaptive moving averages AMA20 and AMA50 in the 30-minute time frame.

The price of bitcoin is ranging near the support of the triangle in the 1-hour time frame indicating a bullish trend.

The immediate short-term outlook for bitcoin is mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $16374 which is a 3-10 day MACD oscillator stalls.

The price of BTCUSD is now facing its classic resistance level of 16902 and Fibonacci resistance level of 16912 after which the path towards 17000 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.08% by 14.24$ and has a 24hr trading volume of USD 12.985 billion. We can see an increase of 3.96% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin’s price is expected to remain in a consolidation phase before any major moves upwards due to the start of the holiday season, and trading volumes remain thin across the major cryptocurrency exchanges.

We are now looking for an upwards rally in the markets in 2023 with major targets at $20000 and $25000 levels.

The daily RSI is printing at 47 which indicates a NEUTRAL demand for bitcoin and the possibility of a shift towards the consolidation/correction phase for a short term in the markets.

The price of BTCUSD is now facing its resistance zone at $17175 which is a 50% retracement from a 4-week high/low and at $17765 at which the price crosses the 9-day moving average stalls.

The weekly outlook is projected at $17500 with a consolidation zone of $17000.

Technical Indicators:

The MACD (12,26): is at 6.40 indicating a BUY

The commodity channel index, CCI (14): is at -29.45 indicating a NEUTRAL

The rate of price change, ROC: is at 0.077 indicating a BUY

Bull/bear power (13): is at 2.02 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-27th-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 28, 2022, 01:56:03 PM
A Look Back Over 2022
(https://i.postimg.cc/pLBZfVC3/market-year-wrap.jpg)

The trading year ends in a couple of weeks from now, and everyone is planning for the holiday season. December, traditionally, is a short month for traders as markets slow down in the second half of the month.

As such, it is the best time to review what happened throughout the year, what moved financial markets, and what might happen in the period ahead.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/a-look-back-over-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 29, 2022, 03:55:59 PM
ETHUSD and LTCUSD Technical Analysis – 29th DEC, 2022
(https://i.postimg.cc/d0B7CdHF/eth.jpg)

ETHUSD: Double Bottom Pattern Above $1183

Ethereum was unable to sustain its bearish momentum and after touching a low of 1185 on 22nd Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle on 27th Dec.

The prices are ranging near the support of the channel in the 15-minute time frame indicating a bullish trend.

We can clearly see a double bottom pattern above the $1183 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1197 and moving into a consolidation channel. The price of ETHUSD is now testing its classic resistance level of 1202 and Fibonacci resistance level of 1206 after which the path towards 1300 will get cleared.

The relative strength index is at 53 indicating a NEUTRAL demand for Ether and the continuation of the consolidation phase in the markets.

Both the STOCHRSI and Williams percent range are indicating an OVERBOUGHT level, which means that the price is expected to decline in the short-term range.

Some of the technical indicators are giving a BUY market signal.

Most of the moving averages are giving a NEUTRAL signal due to the market consolidation seen below the $1250 handle.

ETH is now trading below its 100 hourly simple and 200 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1183
(https://i.postimg.cc/85XjKGgn/etx.png)

ETHUSD is now moving into a consolidation/correction channel with the price trading above the $1150 handle in the European trading session today.

We can see a range-bound movement in Ethereum from the last 15 days due to low liquidity and lower trading volumes.

The price of Ethereum has failed to clear the resistance of $1300 after touching a low of $1159 on 17th Dec.

ETHUSD touched an intraday low of 1184 in the Asian trading session and an intraday high of 1200 in the European trading session today.

We have seen a bullish opening in the markets this week.

The daily RSI is printing at 44 indicating a weak demand for Ether in the long-term range.

The key support levels to watch are $1152 which is a 1-month low, and $1183 which is a 3-10 day MACD oscillator stalls.

ETH has increased by 0.04% with a price change of 0.442$ in the past 24hrs and has a trading volume of 4.723 billion USD.

We can see an increase of 4.27% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH’s price started a minor correction above the $1200 handle and is now facing hurdles crossing the $1250 range on the upside.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1197 which is the pivot point.

The resistance zone is located at $1227 which is a 38.2% retracement from a 4-week low and at $1265 at which the price crosses 9-day moving average stalls.

The weekly outlook is projected at $1250 with a consolidation zone of $1200.

Technical Indicators:

The STOCH (9,6): is at 66.34 indicating a BUY

The commodity channel index (14): is at 162.66 indicating a BUY

High/lows (14): is at 4.04 indicating a BUY

Bull/bear power (13): is at 7.87 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-29th-dec-2022/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 03, 2023, 12:20:20 PM
BTCUSD and XRPUSD Technical Analysis – 03rd JAN 2023
(https://i.postimg.cc/W1VqFL61/btc-xrp.jpg)

BTCUSD: Bullish Engulfing Pattern Above $16372

Bitcoin was unable to sustain its bearish momentum and after touching a low of $16372 on 30th Dec, the prices started to correct upwards against the US dollar and are now ranging above the $16600 handle in the European trading session today.

The price of bitcoin is ranging near the support of the channel in the weekly time frame indicating a bullish trend.

We can clearly see a bullish engulfing pattern above the $16372 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 16655 and an intraday high of 16781 in the Asian trading session today.

The price is forming an ascending channel with the current support of $16690 at which the price crosses the 9-day moving average.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 58.47 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Some of the major technical Indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of 17500 and 18500.

The average true range is indicating HIGH market volatility with a mild bullish momentum.

[LIST=1]

Bitcoin: Bullish Reversal Seen Above $16372
(https://i.postimg.cc/YCxGQnbf/btcx.png)

We can now see that the price of bitcoin is moving in the correction phase after the recent decline below the $16500 level. The immediate targets are $17500 and $18500 in the short-term range.

Once the price of bitcoin will touch $18000, we are expecting a rally into the markets towards the $20000 level.

We can see the formation of the bullish trend reversal pattern with the adaptive moving average AMA50 and AMA100 in the 1-hour time frame.

Any dips from the current levels remain well supported above the $16500 handle as the bitcoin price continues to gain traction against the US dollar.

The immediate short-term outlook for bitcoin is mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $16662 which is a pivot point, and at $16723 which is a 3-10 day MACD oscillator stalls.

The price of BTCUSD is now facing its classic resistance level of 16765 and Fibonacci resistance level of 16773 after which the path towards 17000 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.08% by 13.10$ and has a 24hr trading volume of USD 11.564 billion. We can see an increase of 5.89% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin’s price is expected to enter into a consolidation phase below the $17000 level. As the market liquidity increases, we will see the price upticking towards the $18000 handle.

As of now, the moves are expected to be in a narrow range between the $16000 and $17500 levels.

The daily RSI is printing at 47 which indicates a NEUTRAL demand for bitcoin and the possibility of a shift towards the consolidation/correction phase for a short term in the markets.

The price of BTCUSD is now facing its resistance zone at $17096 which is a 38.2% retracement from a 4-week low, and at $17333 which is a 14-3 day raw stochastic at 50%.

The weekly outlook is projected at $17500 with a consolidation zone of $17000.

Technical Indicators:

The MACD (12,26): is at 20.50 indicating a BUY

The commodity channel index, CCI (14): is at 73.18 indicating a BUY

The rate of price change, ROC: is at 0.048 indicating a BUY

The Bull/bear power (13): is at 31.92 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-03rd-jan-2023/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 05, 2023, 04:34:16 PM
ETHUSD and LTCUSD Technical Analysis – 05th JAN, 2023
(https://i.postimg.cc/26m5HHjd/eth-ltc2.jpg)

ETHUSD: Bullish Engulfing Pattern Above $1181

Ethereum was unable to sustain its bearish momentum and after touching a low of 1181 on 30th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle today in the European trading session.

We can see the formation of bullish engulfing lines in the weekly time frame.

We can clearly see a bullish engulfing pattern above the $1181 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1251 and moving into a consolidation channel. The price of ETHUSD is now testing its classic resistance level of 1254 and Fibonacci resistance level of 1257 after which the path towards 1300 will get cleared.

The relative strength index is at 69.10 indicating a STRONG demand for Ether and the continuation of the buying pressure in the markets.

The average directional index is indicating a NEUTRAL level, which means that the price is expected to remain under consolidation in the short-term range.

Most of the technical indicators are giving a BUY market signal.

Most of the moving averages are giving a BUY signal at the current market levels of $1250.

ETH is now trading Above its 100 hourly simple and 200 hourly exponential moving averages.


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-05th-jan-2023/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 06, 2023, 03:57:34 PM
Watch FXOpen's January 2 - 6 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/7LqFq6Hr/maxresdefault.jpg) (https://www.youtube.com/watch?v=zntqr9qSHyk)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 10, 2023, 03:08:37 PM
BTCUSD and XRPUSD Technical Analysis – 10th JAN 2023
(https://i.postimg.cc/rFrfr2N4/btc.jpg)

BTCUSD: Three Inside UP Pattern Above $16608

Bitcoin was unable to sustain its bearish momentum and after touching a low of $16608 on 03rd Jan, the price started to correct upwards against the US dollar and is ranging above the $17200 handle in the European trading session today.

We have seen a bullish opening of the markets this week.

We can clearly see a three inside up pattern above the $16608 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 17133 in the Asian trading session and an intraday high of 17277 in the European trading session today.

The price of bitcoin is back over the pivot point in the daily time frame.

The ichimoku is indicating a bullish crossover with tenkan and kijun in the daily time frame.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 55.92 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of 17500 and 18500.

The average true range is indicating LESS market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $16608
(https://i.postimg.cc/Dw3BQpxM/btcx.png)

The price of bitcoin continues to rise above the $17000 handle and after some consolidation we are expecting the immediate targets of $18000 and $19000.

There is an ascending channel forming with the current support at $16521 at which the price crosses 9-day moving average stalls.

The Williams percent indicator is back over -50 indicating a bullish tone present in the markets.

We can see the formation of a bullish trend reversal pattern with the adaptive moving average AMA20 in the 1-hour time frame.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $16802 at which the price crosses 18-day moving average, and $16926 which is a 1st Support point of the pivot point.

The price of BTCUSD is now facing its classic resistance level of 17271 and Fibonacci resistance level of 17289 after which the path towards 18000 will get cleared.

In the last 24hrs, BTCUSD has decreased by 0.08% by 14.08$ and has a 24hr trading volume of USD 15.993 billion. We can see an increase of 10.97% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin’s price is expected to enter a super bullish zone after crossing the $18000 level with the next upwards targets located at $19000 and $20000.

The daily RSI is printing at 60.20 which indicates a STRONG demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

The price of BTCUSD is now facing its resistance zone located at $17429 which is a 3-10 day MACD oscillator stalls, and $17789 which is a 38.2% retracement from a 13-week low.

The weekly outlook is projected at $18500 with a consolidation zone of $18000.

Technical Indicators:

The MACD (12,26): is at 25.00 indicating a BUY

The commodity channel index, CCI (14): is at 135.50 indicating a BUY

The rate of price change, ROC: is at 0.232 indicating a BUY

Bull/Bear power (13): is at 24.49 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-10th-jan-2023/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 12, 2023, 03:07:35 PM
ETHUSD and LTCUSD Technical Analysis – 12th JAN, 2023
(https://i.postimg.cc/zv5Y4WK2/eth.jpg)

ETHUSD: Bullish Harami Pattern Above $1237

Ethereum was unable to sustain its bearish momentum and after touching a low of 1237 on 06th Jan, the price started to correct upwards against the US dollar crossing the $1400 handle today in the European trading session.

The prices are ranging near a new record high of 1 month.

We have seen a bullish opening in the markets this week.

We can clearly see a bullish harami pattern above the $1237 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1398 and moving in a strongly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1401 and Fibonacci resistance level of 1403 after which the path towards 1500 will get cleared.

We have also seen the formation of an upside gap in the 15-minute time frame indicating the bullish nature of the markets.

The relative strength index is at 70.66 indicating a strong demand for Ether and the continuation of the buying pressure in the markets.

The Williams percent range is indicating an overbought market, which means that the price is expected to decline in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a STRONG BUY signal at the current market levels of $1399.

ETH is now trading Above both the 100 hourly simple and 200 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1237
(https://i.postimg.cc/bYHhkCf7/etx.png)

ETHUSD continues to trade higher against the US dollar and bitcoin. The price of Ethereum remains supported above the $1300 level and now we are testing the break of the $1500 handle.

The momentum Indicator is back over zero in the weekly time frame.

We can see the formation of a bullish price crossover pattern with moving average MA20 in the weekly time frame.

The resistance of the channel is broken in the daily time frame indicating bullish trends.

ETHUSD touched an intraday low of 1341 in the Asian trading session and an intraday high of 1417 in the European trading session today.

The daily RSI is printing at 75.77 indicating a STRONG demand for Ether in the long-term range.

The key support levels to watch are $1275 at which the price crosses 9-day moving average and at $1313 which is a 38.2% retracement from a 4-week high.

ETH has increased by 4.62% with a price change of 61.65$ in the past 24hrs and has a trading volume of 9.607 billion USD.

We can see an increase of 74.76% in the total trading volume in the last 24 hrs which is due to the heavy buying pressure seen in the global markets.

The Week Ahead

ETH has already made a successful attempt at crossing the $1400 level and the next targets are located at $1500 and $1600 levels in the medium-term.

We can see the formation of an ascending channel from $1237 towards $1421.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral under present market conditions.

The resistance zone is located at $1413 which is a 1-month high, and at $1442 which is a 38.2% retracement from a 13-week high.

The weekly outlook is projected at $1550 with a consolidation zone of $1500.

Technical Indicators:

The STOCH (9,6): is at 57.42 indicating a BUY

The MACD (12,26): is at 16.00 indicating a BUY

The ultimate oscillator: is at 51.75 indicating a BUY

The rate of price change: is at 4.24 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-12th-jan-2023/)

Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 13, 2023, 07:15:19 PM
Watch FXOpen's January 9 - 13 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/1zWzNKmV/9-13-Jan-en.jpg) (https://www.youtube.com/watch?v=T59vsQJd0lc)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 16, 2023, 12:19:47 PM
Crypto winter giving way to Crypto spring? Bitcoin suddenly wakes up
(https://i.postimg.cc/wxbpTQ0M/btc.jpg)

The long, drawn-out period which has lasted several months in which Bitcoin, previously as volatile as a piece of magnesium ribbon over a naked flame, has been utterly stagnant.

The days of $60,000 values and cliffhanger tweets by influencers suddenly crashing and inflating the value of the world's most valuable cryptocurrency seem a distant memory.

If 2021 was the year of the Bitcoin-related rollercoaster ride, 2022 has been a year of absolute hibernation, representing a contrast so great that it is hard to imagine that it is the same investment vehicle.

The doldrums which have existed for a few months now have been dubbed 'crypto winter' by analysts and journalists, a term used to depict the low values and lack of market movement which has overshadowed the previous enthuaiasm for Bitcoin trading.

Today, however, during the Asian session, Bitcoin suddenly rose in value by a substantial amount, to $21,382 by 2.25am UK time.

On Thursday last week, Bitcoin was languishing at $18,880 therefore the rise over just 3 working days has been over $2,000.

As the price of Bitcoin headed toward the $20,000 mark at the beginning of this week, the total cryptocurrency market capitalization figure began to approach £1 trillion.

This is the first time that Bitcoin has passed the $20,000 mark since before the collapse of cryptocurrency exchange FTX in November.

Last week, cryptocurrencies began to rise in value, with Ethereum, the world's second most popular cryptocurrency, having also increased its capitalization leading to a speculation among some analysts that the crypto winter may be over and some degree of resurgence is beginning.

Of course, these small increases are a far cry from the huge surges in value experienced in 2021, but they are significant when considering the totally flat values that have been in place for a few months.

Crypto-denominated stocks are also on the up, largely due to the sudden bullish approach to cryptocurrencies that has come about, and some pundits are considering that the lingering issue of continued inflation among centrally issued currencies and centralized economies dogged by recessions and rising costs are waking up the prices of cryptocurrencies as people look toward another year of high costs and depreciating fiat currencies and search for alternatives.

These opinions all amount to guesswork, however, but what is for sure is that there is a definitive sudden interest in cryptocurrencies once again and that is clearly demonstrated by looking at the chart patterns this morning.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/crypto-winter-giving-way-to-crypto-spring-bitcoin-suddenly-wakes-up/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 17, 2023, 04:26:16 PM
BTCUSD and XRPUSD Technical Analysis – 17th JAN 2023
(https://i.postimg.cc/bN55vV9r/btc.png)

BTCUSD: Three Inside Up Pattern Above $17323

Bitcoin continues its bullish momentum from last week and after touching a low of $17323 on 11th Jan, the price started to correct upwards against the US Dollar and is now ranging above the $21000 handle in the European trading session today.

We can see an upwards rally in the BTCUSD which managed to touch the level of $21390 on 16th Jan.

We can clearly see a three inside up pattern above the $17323 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 21288 and an intraday low of 20952 in the Asian trading session today.

The price of bitcoin is ranging near a new record high of 1 month.

The ichimoku is indicating a bullish crossover with tenkan and kijun in the 30-minute time frame.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The resistance of the channel is broken in the 15-minute time frame indicating bullish trends.

The relative strength index is at 72.09 indicating a very strong demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 22000 and 23500.

The average true range is indicating less market volatility with a strong bullish momentum.


Bitcoin: Bullish Continuation Seen Above $17323
(https://i.postimg.cc/GpwSFBN1/btcx.png)

The price of Bitcoin witnessed a rally after crossing the $18000 levels, and now we can see some market consolidation above the $21000 levels.

After the consolidation phase is over, we are expecting upside moves in the range of $22000 to $24000 levels.

There is an ascending channel forming with the current support at $17379 which is a 14-3 day raw stochastic at 20%.

We can see the formation of a bullish trend reversal pattern with the adaptive moving average AMA20 in the 15-minute time frame.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $18865 which is a 50% retracement from a 4-week high/low and at $19892 which is a 14-3 day raw stochastic at 70%.

The price of BTCUSD is now facing its classic resistance level of 21263 and Fibonacci resistance level of 21320 after which the path towards 22000 will get cleared.

In the last 24hrs BTCUSD has increased by 1.28% by 266.18$ and has a 24hr trading volume of USD 22.330 billion. We can see a decrease of 4.90% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin’s price rocketed higher recently and moved to a 2-month high crossing the $21000 levels. We are now looking for the next upwards move towards the $22000 and $24000 levels.

The daily RSI is printing at 86.91 which indicates a very STRONG demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $17323 towards the $21324 level.

The price of BTCUSD is now facing its resistance zone located at $21466 which is a 13-week high and $22981 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $23000 with a consolidation zone of $22000.

Technical Indicators:

The MACD (12,26): is at 689.90 indicating a BUY

The commodity channel index, CCI (14): is at 86.32 indicating a BUY

The rate of price change, ROC: is at 1.60 indicating a BUY

Bull/bear power (13): is at 593.30 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-17th-jan-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 19, 2023, 04:10:57 PM
ETHUSD and LTCUSD Technical Analysis – 19th JAN, 2023
(https://i.postimg.cc/kGvkfMgz/eth.png)

ETHUSD: Double Bottom Pattern Above $1321

Ethereum was unable to sustain its bearish momentum and after touching a low of 1321 on 11th Jan, the price started to correct upwards against the US dollar crossing the $1600 handle on 18th Jan.

The prices are ranging near horizontal support in the daily time frame indicating bullish trends.

We can clearly see a double bottom pattern above the $1321 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1540 and moving in a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1575 and Fibonacci resistance level of 1639 after which the path towards 1700 will get cleared.

We have also seen the formation of a bullish harami pattern in the 15-minute time frame.

The relative strength index is at 72.46 indicating a STRONG demand for Ether and the continuation of the buying pressure in the markets.

Both the STOCH and average directional index are indicating an overbought market, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a STRONG BUY signal at the current market levels of $1528.

ETH is now trading above both the 100 hourly simple and 100 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1321
(https://i.postimg.cc/sfPdVm4m/etx.png)

ETHUSD continues to trade higher against the US dollar and bitcoin. The price of Ethereum remains supported above the $1500 level and now we are testing the break of the $1600 handle.

We can see the formation of a bullish price crossover pattern with the adaptive moving average AMA20 in the daily time frame.

We have also detected a bullish Doji star pattern in the 1-hour time frame.

ETHUSD touched an intraday low of 1507 in the Asian Trading session and an intraday high of 1531 in the European trading session today.

The STOCHRSI is indicating a NEUTRAL level.

The key support levels to watch are $1432 which is a 38.2% Retracement from a 4-week high, and $1446 at which the price crosses 9-Day Moving Average.

ETH has decreased by 3.18% with a price change of 50.14$ in the past 24hrs and has a trading volume of 10.105 billion USD.

We can see an Increase 33.87% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH has already made a successful attempt at crossing the $1600 level and the next targets are located at $1700 and $1800 in the medium-term.

At present, the price is moving in a consolidation channel above the $1500 level.

We can see the formation of a bullish ascending channel from $1321 towards the $1542 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral under present market conditions.

The resistance zone is located at $1588 which is a pivot point 1st resistance point and at $1618 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $1700 with a consolidation zone of $1650.

Technical Indicators:

The relative strength index, RSI (14): is at 72.46 indicating a BUY

The moving average convergence divergence, MACD (12,26): is at 79.85 indicating a BUY

The ultimate oscillator: is at 60.41 indicating a BUY

The rate of price change, ROC: is at 22.11 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-19th-jan-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 20, 2023, 05:29:19 PM
Watch FXOpen's January 16 - 20 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/qv1gpWFS/en2001.jpg) (https://www.youtube.com/watch?v=p0xkRCVr0kU)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 24, 2023, 04:04:27 PM
BTCUSD and XRPUSD Technical Analysis – 24th JAN 2023
(https://i.postimg.cc/Y9Q1Q7jy/btc.png)

BTCUSD: Inverted Hammer Pattern Above $20671

Bitcoin continues its bullish momentum from last week and after touching a low of $20671on 19th Jan we can see a bull run which managed to push the prices of BTCUSD above the $23000 handle today in the early Asian trading session.

After touching a high of $23159 we can see that the prices are declining due to profit taking by the medium term investors.

The price of bitcoin is ranging near a new record high of 1 month.

We can clearly see an inverted hammer pattern above the $20671 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 23159 in the Asian trading session and an intraday low of 22858 in the European trading session today.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The relative strength index is at 63.63 indicating a strong demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly exponential moving average and above its 200 hourly exponential moving average.

Most of the major technical indicators are giving a strong buy signal, which means that in the immediate short term, we are expecting targets of 23000 and 24500.

The average true range is indicating less market volatility with a strongly bullish momentum.


Bitcoin: Bullish Continuation Seen Above $20671
(https://i.postimg.cc/HnHb2NyW/btcx.png)

We can now see that the price of Bitcoin is moving in a correction phase after which the market consolidation will start above the $22500 handle.

The Aroon indicator is giving a bullish trend in the 1-hour time frame.

The momentum indicator is back over zero in the 30-minute time frame.

We can see the formation of the bullish harami cross pattern in the 15-minute time frame indicating bullish trends.

We have also detected a bullish price crossover pattern with the adaptive moving average AMA100 in the 15-minute time frame.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zones are located at $21017 at which the price crosses 9-day moving average, and at $21976 which is a 14-3 day raw stochastic at 80%.

The price of BTCUSD is now facing its classic resistance level of 23200 and Fibonacci resistance level of 23288 after which the path towards 24000 will get cleared.

In the last 24hrs BTCUSD has increased by 0.47% by 107$ and has a 24hr trading volume of USD 27.839 billion. We can see an increase of 15.92% in the trading volume compared to yesterday, which is due to the heavy buying pressure seen in the global markets.

The Week Ahead

The price of bitcoin has already entered into a super bullish zone above the $22000 and further upsides are located at $24000 and $25000 in the medium-term.

Bitcoin’s resistance zone is located at $23309 which is a 13-week high and at $24778 which is a 3-10 day MACD oscillator stalls.

There is an ascending channel forming with the current support located at $19977 which is a 14-3 day raw stochastic at 50%.

The weekly outlook is projected at $24500 with a consolidation zone of $24000.

Technical Indicators:

The moving averages convergence divergence, MACD (12, 26): is at 359.30 indicating a BUY

The commodity channel index, CCI (14): is at 56.65 indicating a BUY

The relative strength index, RSI (14): is at 63.63 indicating a BUY

Bull/bear power (13): is at 594.12 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-24th-jan-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 26, 2023, 06:38:10 PM
ETHUSD and LTCUSD Technical Analysis – 26th JAN, 2023
(https://i.postimg.cc/8C3CQmjX/eth.png)

ETHUSD: Three Inside Up Pattern Above $1518

Ethereum was unable to sustain its bearish momentum and after touching a low of 1518 on 25th Jan, the price started to correct upwards against the US dollar crossing the $1600 handle today in the European trading session.

We have seen a bullish opening of the markets this week.

We can clearly see a three inside up pattern above the $1518 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1607 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1610 and Fibonacci resistance level of 1613 after which the path towards 1700 will get cleared.

The relative strength index is at 56.75 indicating a STRONG demand for Ether and the continuation of the bullish phase in the markets.

The price of Ethereum is ranging near the horizontal support in the 1-hour time frame indicating bullish trends.

Both the STOCH and CCI are indicating a neutral market, which means that the prices are expected to remain in a consolidation phase.

Most of the technical indicators are giving a BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1650 to $1700 in the short-term range.

ETH is now trading above both the 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1518
(https://i.postimg.cc/90PX931s/etx.png)

ETHUSD is now moving into a mildly bullish channel with the price trading above the $1600 handle in the European trading session today.

ETH touched an intraday high of 1625 in the Asian trading session and an intraday low of 1600 in the European trading session today.

We can see the formation of a bullish price crossover pattern with adaptive moving average AMA20 in the 30-minute time frame.

The Aroon indicator is giving a bullish trend in the 4-hour time frame.

We have also detected the formation of moving average bullish crossovers: MA50 & MA100 in the daily time frame.

Ethereum’s price is rising sharply against the US dollar and nitcoin and is now eyeing to cross the $1700 level soon.

The daily RSI is printing at 65.97 indicating a STRONG demand for Ether in the medium-term range.

The key support levels to watch are $1489 which is a 38.2% Retracement from a 4-week high, and $1536 which is a 3-10-16 day MACD moving average stalls.

ETH has increased by 3.98% with a price change of 61.50$ in the past 24hrs and has a trading volume of 10.232 billion USD.

We can see an increase of 10.64% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH price continues to remain in a bullish zone against the US dollar and bitcoin. ETHUSD is expected to move higher towards the $11650 and $1700 levels this week.

On the upside we are now looking at the immediate targets of 1677 which is a 13-week high, and $1685 which is a pivot point 2nd level resistance.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1588 which is a pivot point.

The weekly outlook is projected at $1700 with a consolidation zone of $1650.

Technical Indicators:

The average directional index, ADX (14): is at 45.27 indicating a BUY

The rate of price change: is at 2.735 indicating a BUY

Bull/bear power (13): is at 7.52 indicating a BUY

The Williams percent range : is at -44.41 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-26th-jan-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 27, 2023, 08:00:29 PM
Watch FXOpen's January 23 - 27 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/2SrxW1t5/img-001.png) (https://www.youtube.com/watch?v=XQZL2f5VL3k)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 31, 2023, 01:11:55 PM
Markets focus on Bitcoin as volatility takes it to 5-month high
(https://i.postimg.cc/nczyHPPG/img-007.png)

The much publicized 'crypto winter' has been a long, drawn out period of relatively low values among major cryptocurrencies, lasting now for several months.

Along with the depressed values compared to the incredible volatility of 2021 which showed Bitcoin race to over $60,000 and below $20,000 and back again, there has been a stagnant market for long enough for those who were on the edge of their seat a just a year and a half ago to fall asleep during the winter of 2022.

This weekend, however, has caused some market participants to wake from the months-long slumber and begin to take note as Bitcoin values suddenly climbed to $23,900 by Sunday evening (UK market time).

That is almost $1000 higher than the value at which Bitcoin began the very same day, its value having been at $23,003 at 00.30 in the first half hour of the morning UK time.

Over the 24 hours until 12.00pm today UK time, Bitcoin had risen by 2% which is significant considering the millpond-like doldrums it has been in over the past few weeks.

This sudden rally was short lived, however, and by 13.00 UK time, Bitcoin values had descended to $23,100 which is a similar value to the pre-rally price on Sunday morning.

Whilst the return to the low $23,000 range may appear a damp squib to those who had become excited by the sudden upward direction which took place yesterday, the movement does at least demonstrate that some market volatility was present after a long period of stagnation, hence why this has been a talking point among many analysts and reporters over the past 24 hours.

What is of perhaps greater interest is that the high point reached yesterday evening put Bitcoin value at its highest point since August 12, 2022, when it traded at $24,412 and despite tailing off a bit during the course of today, Bitcoin is still at its second highest point in the last six months.

Therefore, whilst perhaps a small blip in the market value of the world's most popularly traded cryptocurrency may appear short lived, this is the highest value in the past five months, which is definitely something to write about.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/markets-focus-on-bitcoin-as-volatility-takes-it-to-5-month-high/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 31, 2023, 03:58:56 PM
BTCUSD and XRPUSD Technical Analysis – 31st JAN 2023
(https://i.postimg.cc/NMx8swbb/btc.png)

BTCUSD: Double Bottom Pattern Above $22396

Bitcoin continues its bullish momentum from last week and after touching a low of $22396 on 25th Jan, the prices started to correct upwards against the US dollar and are now ranging above the $22500 handle in the European trading session today.

We have seen a bullish opening of the markets this week.

We can clearly see a double bottom pattern above the $22396 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 22543 in the Asian trading session and an intraday high of 22992 in the European trading session today.

The price of bitcoin is ranging near a new record high of 1 month.

We can see the formation of a bullish harami and bullish harami cross pattern in the daily time frame.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

We have also detected a bullish doji star pattern in the 30-minute time frame indicating bullish trends.

The relative strength index is at 56.23 indicating a strong demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 23000 and 24500.

The average true range is indicating high market volatility with a mildly bullish momentum.


Bitcoin: Bullish Continuation Seen Above $22396
(https://i.postimg.cc/CxWz96C1/btcx.png)

The price of bitcoin witnessed a downwards correction after touching $23926 as the target of $24K was rejected by the bulls. Now the markets are ranging into a consolidation channel above the $22500 handle.

After the consolidation phase is over, we are expecting upside moves in the range of $23500 to $24000 levels.

The resistance of the channel is broken in the 15-minute time frame.

We can see the formation of a bullish trend reversal pattern with the moving average MA20 in the 15-minute time frame.

The immediate short-term outlook for bitcoin is mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $20780 at which the price crosses 9-day moving average stalls, and at $21091 which is a 38.2% retracement from a 4-week high.

The price of BTCUSD is now facing its classic resistance level of 22928 and Fibonacci resistance level of 22950 after which the path towards 23000 will get cleared.

In the last 24hrs BTCUSD has decreased by 1.85% by 432.62$ and has a 24hr trading volume of USD 25.925 billion. We can see a decrease of 5.10% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin has reached its highest level this month at $23956 which is a positive sign after the harsh crypto winter season seen last year.

The daily RSI is printing at 69.281 which indicates a very strong demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $22396 towards the $23983 level.

The price of BTCUSD is now facing its resistance zone located at $23098 which is a pivot point, and at $23527 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $24000 with a consolidation zone of $23500.

Technical Indicators:

The moving averages convergence divergence (12,26): is at 1256.90 indicating a BUY

The ultimate oscillator: is at 52.29 indicating a BUY

The rate of price change : is at 8.37 indicating a BUY

Bull/bear power (13): is at 856.36 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-31st-jan-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 02, 2023, 01:38:47 PM
ETHUSD and LTCUSD Technical Analysis – 02nd FEB, 2023
(https://i.postimg.cc/3JLM03T4/eth.png)

ETHUSD: Three White Soldiers Pattern Above $1535

Ethereum was unable to sustain its bearish momentum and after touching a low of 1535 on 30th Jan, the price started to correct upwards against the US dollar crossing the $1650 handle today in the Asian trading session.

After touching a high of $1694 the prices have retracted due to profit taking by the medium-term investors.

We have seen a bullish opening of the markets this week.

We can clearly see a three white soldiers pattern above the $1535 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1665 and moving into a strong bullish channel. The price of ETHUSD is now testing its classic resistance level of 1668 and Fibonacci resistance level of 1673 after which the path towards 1700 will get cleared.

We have also seen the formation of a Bullish engulfing line in the weekly time frame.

The price of Ethereum is ranging near the support of the channel in the 15-minute time frame indicating a bullish scenario.

The relative strength index is at 68.86 indicating a strong demand for Ether and the continuation of the buying pressure in the markets.

The Williams percent range is indicating an overbought market, which means that the price is expected to decline in the short-term range.

Most of the technical indicators are giving a strong buy market signal.

Most of the moving averages are giving a strong buy signal at the current market level of $1666.

ETH is now trading above both the 100 hourly simple and 100 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1535
(https://i.postimg.cc/y8WMF21f/etx.png)

ETHUSD continues to trade higher against the US dollar and bitcoin. The price of Ethereum remains supported above the $1600 level and now we are testing the break of the $1700 handle.

We can see the formation of a B=bullish price crossover pattern with adaptive moving average AMA20 in the weekly time frame.

The momentum indicator is back over zero in the daily time frame indicating bullish trends.

We have also detected the formation of a bullish harami pattern in the 4-hour time frame.

ETHUSD touched an intraday low of 1633 and an intradayhHigh of 1694 in the Asian trading session today.

The STOCHRSI is indicating an oversold level, which indicates that the prices will continue to rise in the medium-term range.

The key support levels to watch are $1594 which is a 14-3 day raw stochastic at 50%, and $1637 at which the price crosses 9-day moving average stalls.

ETH has increased by 5.88% with a price change of 92.60$ in the past 24hrs and has a trading volume of 9.958 billion USD.

We can see an increase of 60.00% in the total trading volume in the last 24 hrs which is due to heavy buying seen at lower levels.

The Week Ahead

ETH has already made a failed attempt to cross the $1700 level by touching $1694 today. Now we are expecting a retest of the $1700 breach after which the next targets are located at $1800 and $1900 levels.

At present, the prices are moving in a consolidation channel above the $1650 level.

We can see the formation of a bullish ascending channel from $1535 towards the $1684 level.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral in present market conditions.

The resistance zone is located at $1701 which is the pivot point 2nd resistance level and at $1868 which is a 14-day RSI at 80%.

The weekly outlook is projected at $1800 with a consolidation zone of $1750.

Technical Indicators:

The relative strength index, RSI (14): is at 68.86 indicating a BUY

The moving average convergence divergence, MACD (12,26): is at 21.75 indicating a BUY

The average directional index: is at 23.83 indicating a BUY

The rate of price change: is at 22.11 indicating a BUY

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-02nd-feb-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 04, 2023, 05:02:27 AM
Watch FXOpen's January 30 - February 3 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.
(https://i.postimg.cc/brwWZHgB/wk-001.png) (https://www.youtube.com/watch?v=FMmhHwmvulY)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 07, 2023, 02:14:28 PM
BTCUSD and XRPUSD Technical Analysis – 07th FEB 2023
(https://i.postimg.cc/VvRBZrK0/btc.png)

BTCUSD – Bullish Harami Pattern Above $22658

Bitcoin continues its bullish momentum from last week and after touching a low of $22658 on 07th Feb, the prices started to correct upwards against the US Dollar and are now ranging above the $23000 handle in the European trading session today.

The price is back over the Pivot point in the daily timeframe indicating bullish trends.

We can clearly see a bullish Harami pattern above the $22658 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 22658 in the Asian trading session and an intraday high of 23037 in the European trading session today.

The momentum indicator is back over zero in the 4-hourly timeframe indicating a bullish scenario.

The MACD indicator is giving a bullish divergence signal in the 1-hourly timeframe.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short-term a decline in the prices is expected.

The RSI indicator is back over 50 in both the 30-minutes and 1-hourly timeframe indicating bullish trends.

Relative strength index is at 58.15 indicating a strong demand for Bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving below its 100 hourly Simple Moving average and below its 100 hourly Exponential Moving averages.

Most of the major technical indicators are giving a BUY signal, which means that in the immediate shor-term we are expecting targets of 23500 and 24500.

Average true range is indicating less market volatility with a mild bullish momentum.


Bitcoin Bullish Continuation Seen Above $22658
(https://i.postimg.cc/qBXLvSpB/btcx.png)

The prices of Bitcoin witnessed a downwards correction after crossing the $24000 levels. Now the markets are ranging into a consolidation channel above the $22500 handle.

After the consolidation phase is over, we are expecting upside moves in the range of $23500 to $24500 levels.

We can see the formation of a bullish price crossover pattern with the Adaptive Moving average AMA20 in both the 30-minutes and 1-hourly timeframes.

The immediate short-term outlook for Bitcoin is mild bullish, medium-term outlook has turned as bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin support zone is located at $22342 which is a 14-3 Day Raw Stochastic at 50% and at $22581 which is a 3-10 Day MACD Oscillator Stalls.

The price of BTCUSD is now facing its classic resistance levels of 23053 and Fibonacci resistance levels of 23352 after which the path towards 23500 will get cleared.

In the last 24hrs BTCUSD has increased by 0.84% by 190.97$ and has a 24hr trading volume of USD 24.800 Billion. We can see an increase of 13.07% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin has reached its highest levels this month at $24209 which was last seen on 20th Aug, 2022. We are now looking to cross the $25000 levels this month.

Daily RSI is printing at 62.55 which indicates a very strong demand for Bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trendline from $22658 towards the $24118 levels.

The prices of BTCUSD are now facing its resistance zone located at $23406 which is a 14-Day RSI at 70% and at $23594 at which the price crosses 9-Day Moving Average Stalls.

Weekly outlook is projected at $25000 with a consolidation zone of $24000.

Technical Indicators:

Moving Averages Convergence Divergence (12,26): It is at 2.60 indicating a BUY.

Ultimate Oscillator: It is at 57.18 indicating a BUY.

Rate of Price Change: It is at 0.226 indicating a BUY.

Bull/Bear Power (13): It is at 175.73 indicating a BUY.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-07th-feb-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 08, 2023, 05:17:30 PM
Bitcoin values decline as major exchange halts Dollar transfers
(https://i.postimg.cc/1Rj8BYhZ/btc.png)

The now rather infamous 'crypto winter' which referred to the latter part of 2022 had appeared to show some signs of subsiding recently.

After many months of relatively low and somewhat stagnant cryptocurrency values, some of the more popular digital currencies had begun to make a little bit of headway over the first few weeks of 2023.

By the end of January 2022, it looked as though the value of many of the most popular cryptocurrencies, especially Bitcoin and Ethereum, were emerging from the doldrums and beginning to make a resurgence in value, with Bitcoin hitting $23,783 on January 30.

Of course, this is a far cry from the $60,000 ballpark which Bitcoin reached in 2021, but considering the under-$20,000 range it has been languishing in for a few months, it is a considerable upturn in fortunes.

However, since yesterday, Bitcoin has been declining in value once again, going from $23,380 during the night (1.15am UK time) to $23,159 by 11.00am UK time today.

That is a 66 point decrease in value, 0.28% in percentage terms, which may not seem a large movement, but it does represent a downturn of considerable monetary value, putting an end to the climbing values.

It could be that accessibility may be a factor, as Binance, one of the world's largest cryptocurrency exchanges announced yesterday that will suspend U.S. dollar withdrawals and deposits for international customers beginning today, resulting in a significant capital outflow from Binance and Bitcoin withdrawal figures going up overall.

Binance stated that it remained 'net positive' after the withdrawal run took place, however such a rush to divest from an exchange in one go means that actual trading volume in Bitcoin would likely be affected, which may also be contributing to the lower values today.

Binance has stated that this suspension of US dollar transactions is temporary, but of course any action which causes a mass withdrawal of assets from a trading venue is always likely to affect overall trading volume.

So, whilst overall Bitcoin is being viewed through a bullish lens, largely because of the US Federal Reserve bank's latest less aggressive rate hike of just 25 basis points, which helped Bitcoin to maintain its rising trajectory and outperform as compared to other asset classes, any action affecting trading in which a mass withdrawal takes place is likely to have some effect.

It may be temporary, and if so, volatility is definitely on its way back to the crypto market.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/bitcoin-values-decline-as-major-exchange-halts-dollar-transfers/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 11, 2023, 05:38:20 AM
Watch FXOpen's February 6 - 10 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.
(https://i.postimg.cc/TYqk4QTc/img-007.png) (https://www.youtube.com/watch?v=e-QnYikpA_8)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo[/list]
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 14, 2023, 03:13:56 PM
BTCUSD and XRPUSD Technical Analysis – 14th FEB 2023
(https://i.postimg.cc/3rF7zQhW/btc.png)

BTCUSD: The Evening Star Pattern Below $23432

Bitcoin was unable to sustain its bullish momentum last week and after touching a high of $22432 started to decline against the US dollar, touching a low of $21450 on 13th Feb.

We have seen a bearish opening of the markets this week.

We can clearly see the evening star pattern below the $23432 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 21839 in the Asian trading session and an intraday low of 21683 in the European trading session today.

We can see the formation of a three black crows pattern in the weekly time frame indicating bearish trends.

The Ichimoku price is under the cloud in the 2-hour time frame indicating bearish trends.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term a decline in the prices is expected.

The RSI indicator is back under 50 in the 2-hour time frame indicating the bearish nature of the markets.

The relative strength index is at 48.77 indicating a NEUTRAL demand for bitcoin, and the shift towards the consolidation phase in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 100 hourly exponential moving averages.

Some of the major technical indicators are giving a SELL signal, which means that in the immediate short term, we are expecting targets of 21000 and 20500.

The average true range is indicating LESS market volatility with a mildly bearish momentum.


Bitcoin: Bearish Reversal Seen Below $23432
(https://i.postimg.cc/J47mLY7x/btcx.png)

The price of Bitcoin was unable to cross the $24K mark last week, and we can see a continuous fall in the levels now trading below the $22K handle.

As some of the technical indicators are also giving a neutral stance of the markets, we are expecting that a bullish reversal is possible after touching the $20500 level.

We have also detected the formation of bearish engulfing lines in the 30-minute time frame.

The MACD crosses down its moving average in the 15-minute time frame indicating the bearish nature of the markets.

We can see the formation of a bearish price crossover pattern with the adaptive moving average AMA20 in both the 30-minute and 2-hour time frames.

The immediate short-term outlook for bitcoin is mildly bearish, the medium-term outlook has turned bearish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $20027 at which the price crosses the 40-day moving average, and at $20937 at which the price crosses the 18-day moving average stalls.

The price of BTCUSD is now facing its classic support level of 21703 and Fibonacci support level of 21502 after which the path towards 21000 will get cleared.

In the last 24hrs BTCUSD has increased by 0.57% by 122.76$ and has a 24hr trading volume of USD 21.364 billion. We can see an increase of 0.42% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin is now facing the extended crypto winter due to which the prices are unable to rise above the $25000 level.

We are now heading towards the $21500 level this week.

The daily RSI is printing at 47.08 which indicates a NEUTRAL demand for bitcoin and the continuation of the bearish phase present in the markets in the short-term range.

We can see the formation of a bearish trend line from $23432 towards the $21576 level.

The price of BTCUSD is now facing its support zone located at $20884 which is a 38.2% retracement from a 13-week high.

The weekly outlook is projected at $21000 with a consolidation zone of $20500.

Technical Indicators:

The average directional index (14): It is at 28.57 indicating a SELL.

The ultimate oscillator: It is at 39.72 indicating a SELL.

The rate of price change: It is at -5.67 indicating a SELL.

Bull/bear power (13): It is at -1085.58 indicating a SELL.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-14th-feb-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 16, 2023, 02:04:32 PM
ETHUSD and LTCUSD Technical Analysis – 16th FEB, 2023
(https://i.postimg.cc/3NNRzScf/eth.png)

ETHUSD: Double Bottom Pattern Above $1462

Ethereum was unable to sustain its bearish momentum and after touching a low of $1462 on 13th Feb, the price started to correct upwards against the US dollar now ranging above the $1650 handle today in the Asian trading session.

We can see a continuous escalation in the price of Ethereum which is expected to push up its price above the $1700 handle.

The price of ETH has touched a new record high of 5 months.

We can clearly see a double bottom pattern above the $1462 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1681 and moving into a strongly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1687 and Fibonacci resistance level of 1693 after which the path towards 1800 will get cleared.

We can see the formation of bullish engulfing lines in the weekly time frame.

The relative strength index is at 75.92 indicating a very strong demand for Ether and the continuation of the buying pressure in the markets.

The RSI is giving an overbought signal, which means that the price is expected to decline in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a STRONG BUY signal at the current market level of $1683.

ETH is now trading above both the 100 hourly simple and 100 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1462
(https://i.postimg.cc/fyPLs74z/etx.png)

ETHUSD has now resumed its bullish trend and we are now expecting a retest of the $1800 level soon after which the next visible targets are located at $1800 and $2000 levels.

We can see the formation of a bullish price crossover pattern with the adaptive moving average AMA20 in the weekly time frame.

We have also detected the formation of a white gravestone/inverted hammer pattern in the daily time frame conforming to the bullish reversal.

ETHUSD touched an intraday high of 1707 and an intraday low of 1664 in the Asian trading session today.

The Aroon indicator is giving a bullish trend in the daily time frame.

The key support levels to watch are $1657 at which the price crosses 9-day moving average stalls, and $1679 which is a 3-10 day MACD oscillator stalls.

ETH has increased by 8.76% with a price change of 135.58$ in the past 24hrs and has a trading volume of 12.329 billion USD.

We can see an increase of 34.47% in the total trading volume in the last 24 hrs which is due to the heavy buying seen at lower levels.

The Week Ahead

ETH has now moved into a breakout zone which is expected to continue this week and now we are heading towards the $1800 level.

At present the prices are moving in a super bullish zone above the $1650 levels.

We can see the formation of a bullish ascending channel from $1462 towards the $1713 level.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral under present market conditions.

The resistance zone is located at $1809 which is a 14-Day RSI at 70%, and at $1842 which is a pivot point 3rd level resistance.

Weekly outlook is projected at $1900 with a consolidation zone of $1850.

Technical Indicators:

The STOCH (9,6): is at 58.99 indicating a BUY.

The moving average convergence divergence (12,26): is at 32.22 indicating a BUY.

The Williams percent range: is at -20.25 indicating a BUY.

The rate of price change: is at 5.77 indicating a BUY.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-16th-feb-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 17, 2023, 03:55:38 PM
Watch FXOpen's February 13 - 17 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.
(https://i.postimg.cc/wjm8RM90/img-011.png) (https://www.youtube.com/watch?v=bt136QyPtY8)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 21, 2023, 02:23:41 PM
BTCUSD and XRPUSD Technical Analysis – 21st FEB 2023
(https://i.postimg.cc/mgLSxT79/img-009.jpg)

BTCUSD: Three WHITE Soldiers Pattern Above $22079

Bitcoin was unable to sustain its bearish momentum last week and after touching a low of $22079 the price started to correct upwards against the US dollar, touching a high of $25093 today in the Asian trading session.

We have seen a bullish opening of the markets this week.

We can clearly see the three white soldiers pattern above the $22079 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 24681 and an intraday high of 25093 in the Asian trading session today.

We can see that the MACD indicator is back over zero in the weekly time frame indicating bullish trends.

We can see a bullish price crossover with moving average MA50 in the weekly time frame indicating bullish trends.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The resistance of the channel is broken in the daily time frame indicating a bullish scenario.

The relative strength index is at 62.08 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 25000 and 27500.

The average true range is indicating less market volatility with a strong bullish momentum.


Bitcoin: Bullish Reversal Seen Above $22079
(https://i.postimg.cc/5NsrGQLL/img-007.png)

The price of bitcoin is marching ahead of the $25000 levels amid improving consumer sentiments and a shift towards a high demand market.

The momentum indicator is back over zero in the 15-minute time frame indicating a bullish outlook.

The MACD crosses up its moving average in the 15-minute time frame.

We can see that the prices have entered into a supper bullish zone and now we are heading towards the $26000 and $27500 levels.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $23074 at which the price crosses 18-day moving average stalls, and $23315 which is a pivot point 2nd support point.

The price of BTCUSD is now facing its classic resistance level of 25077 and Fibonacci resistance level of 25120 after which the path towards 26000 will get cleared.

In the last 24hrs, BTCUSD has increased by 2.14% by 524.45$ and has a 24hr trading volume of USD 27.875 billion. We can see a decrease of 2.34% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin needs to continue its bullish moves this week, which will further validate the end of the crypto winter and the start of a bullish run for Bitcoin which was long overdue.

There is an ascending channel forming with the current support at $23165 at which the price crosses the 18-day moving average.

The daily RSI is printing at 66.97 which indicates a VERY STRONG demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $22079 towards the $25265 level.

The price of BTCUSD is now facing its resistance zone located at $25890 which is a pivot point 2nd resistance level and $26017 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $27000 with a consolidation zone of $26000.

Technical Indicators:

The average directional index (14): is at 32.84 indicating a BUY.

The ultimate oscillator: is at 53.92 indicating a BUY.

The rate of price change: is at 0.979 indicating a BUY.

Bull/bear power (13): is at 204.85 indicating a BUY.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-21st-feb-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 23, 2023, 07:52:17 PM
ETHUSD and LTCUSD Technical Analysis – 23rd FEB, 2023
(https://i.postimg.cc/26JMsLDx/eth.png)

ETHUSD: Hammer Pattern Above $1596

Ethereum was unable to sustain its bearish momentum and after touching a low of 1596 on 22nd Feb, the price started to correct upwards against the US dollar crossing the $1650 handle today in the European trading session.

We have seen a bullish opening of the markets this week.

We can clearly see a hammer pattern above the $1596 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1666 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1669 and Fibonacci resistance level of 1671 after which the path towards 1700 will get cleared.

The relative strength index is at 61.93 indicating a strong demand for Ether and the continuation of the bullish phase in the markets.

We can see the formation of bullish engulfing lines in the daily time frame.

Both the STOCH and STOCHRSI are indicating an overbought market, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a strong buy market signal.

Most of the moving averages are giving a strong buy signal, and we are now looking at the levels of $1700 to $1750 in the short-term range.

ETH is now trading above its 100 & 200 hourly simple and exponential moving averages.


Ether: Bullish Reversal Seen Above $1596
(https://i.postimg.cc/MHQNqZZJ/etx.png)

ETHUSD is now moving in a strongly bullish channel with the prices trading above the $1650 handle in the European trading session today.

ETH touched an intraday low of 1637 and an intraday high of 1678 in the Asian trading session today.

The horizontal resistance is broken in the daily time frame, indicating bullish trends.

The MACD crosses up its moving average in the 4-hour time frame indicating bullish nature of the markets.

The Ichimoku – bullish crossover: Tenkan and Kjiun patterns are visible which is a bulish indication of the markets.

The Ichimoku price is over the cloud in the 1-hour time frame indicating a bullish scenario.

The Aroon indicator is giving a bullish trend in the 15-minute time frame.

The key support levels to watch are $1603 which is a 50% retracement from a 4-week high/low, and $1631 at which the price crosses the 9-day moving average.

ETH has increased by 1.84% with a price change of 30.19$ in the past 24hrs and has a trading volume of 8.818 billion USD.

We can see an increase of 1.15% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH’s price continues to remain in a bullish zone against the US dollar and bitcoin. ETHUSD is expected to move higher towards the $1700 and $1800 levels this week.

On the upside we are now looking at the immediate targets of 1724 which is a pivot point 3rd level resistance, and 1741 which is a 13-week high.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral in present market conditions.

The price of ETHUSD will need to remain above the important support level of $1628 which is a pivot point.

The weekly outlook is projected at $1800 with a consolidation zone of $1750.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-23rd-feb-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 24, 2023, 08:54:30 AM
Gold Price Faces Hurdles And Crude Oil Price Could Recover Steadily
(https://i.postimg.cc/nryXzRBR/gold.jpg)

Gold price declined from the $1,850 resistance zone. Crude oil price is attempting a recovery wave above the $75.50 resistance zone.

Important Takeaways for Gold and Oil


Gold Price Technical Analysis

Gold price struggled to clear the $1,850 resistance against the US Dollar. The price started a strong decline and traded below the $1,832 support zone.

The bears even pushed the price below $1,825 and the 50 hourly simple moving average. The price traded below the $1,820 level. A low is formed near $1,817 on FXOpen and the price is now consolidating losses. On the upside, an immediate resistance is near the $1,828 level or the 50 hourly simple moving average.

Gold Price Hourly Chart
(https://i.postimg.cc/63t9qs81/goldx.jpg)

The stated level is near the 38.2% Fib retracement level of the downward move from the $1,846 swing high to $1,817 low. The next key hurdle is near the $1,832 level.

There is also a key bearish trend line is forming with resistance near $1,835 on the hourly chart of gold.  The trend line is near the 50% Fib retracement level of the downward move from the $1,846 swing high to $1,817 low.

A clear upside break above the $1,835 resistance could send the price towards $1,850. If there is no upside break, the price might correct lower.

An immediate support on the downside is near the $1,820 level. The next major support is near the $1,812 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,800 support zone.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gold-price-faces-hurdles-and-crude-oil-price-could-recover-steadily/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 26, 2023, 12:59:34 AM
Watch FXOpen's February 20 - 24 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.
(https://i.postimg.cc/q7JyXxTH/img-0019.png) (https://www.youtube.com/watch?v=bmLGmWT9Bpw)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 01, 2023, 02:16:48 AM
BTCUSD and XRPUSD Technical Analysis – 28th FEB 2023
(https://i.postimg.cc/j5WKtdVd/btc.png)

BTCUSD: Bullish Doji Star Pattern Above $22796

Bitcoin was unable to sustain its bearish momentum last week and after touching a low of $22796 on 25th Feb the prices started to correct upwards against the US dollar, touching a high of $23873 on 27th Feb.

We have seen a bearish opening of the markets this week.

We can clearly see a bullish Doji star pattern above the $22796 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 23557 in the Asian trading session, and an intraday low of 23214 in the European trading session today.

We can see that the MACD indicator is back over zero in the weekly time frame indicating bullish trends.

The price of bitcoin is ranging near horizontal support in the weekly time frame indicating a bullish trend.

Both the STOCH and STOCHRSI are indicating Overbought levels which means that in the immediate short term, a decline in the prices is expected.

The price of bitcoin is ranging near the support of the channel in the 15-minute time frame indicating a bullish scenario.

The relative strength index is at 55.00 indicating a strong demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 24000 and 25500.

The average true range is indicating less market volatility with a bullish momentum.


Bitcoin: Bullish Reversal Seen Above $22796
(https://i.postimg.cc/63DK3JwV/btcx.png)

The price of bitcoin is now moving into a consolidation channel below the $23500 handle which also means that now we are preparing for the next upwards move in bitcoin towards the $25000 level.

The commodity channel index indicator is giving an oversold signal which indicates a neutral tone in the markets.

Some of the technical indicators are also giving a neutral tone present in the markets.

Bitcoin has resumed its rising trend channel with a positive momentum that is building at levels above the $23110.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $22711 which is a 14-day RSI at 50% and at $22893 which is a 3-10 day MACD oscillator stalls.

The price of BTCUSD is now facing its classic resistance level of 24948 and Fibonacci resistance level of 26119 after which the path towards 27000 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.58% by 135.92$ and has a 24hr trading volume of USD 22.280 billion. We can see a decrease of 2.34% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

We can see that the price of bitcoin is now almost 53% up against the lows formed in November 2022.

The consolidation in the levels of bitcoin also indicates that the global investor sentiment continues to improve and will lead to the higher price of bitcoin in the month of March 2023.

The daily RSI is printing at 50.79 which indicates a neutral demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $22796 towards the $23989 level.

The price of BTCUSD is now facing its resistance zone located at $24030 at which the price crosses 9-day moving average and $24095 which is a 14-3 day raw stochastic at 70%

The weekly outlook is projected at $24500 with a consolidation zone of $24000.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-28th-feb-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 02, 2023, 01:51:39 PM
ETHUSD and LTCUSD Technical Analysis – 02nd MAR, 2023
(https://i.postimg.cc/3N1z6PQG/eth.png)

ETHUSD: Three White Soldiers Pattern Above $1558

Ethereum was unable to sustain its bearish momentum and after touching a low of $1558 on 25th Feb, the prices started to correct upwards against the US dollar ranging above the $1640 handle today in the Asian trading session.

The prices of Ethereum are ranging near a new record high of 1 month.

The price of ETHUSD is back over the pivot point in the weekly time frame indicating a bullish scenario.

We can clearly see a three white soldiers pattern above the $1558 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1645 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1650 and Fibonacci resistance level of 1656 after which the path towards 1700 will get cleared.

We can see the formation of the bullish harami pattern in the weekly timeframe.

The relative strength index is at 52.40 indicating a neutral demand for Ether and a shift towards the consolidation phase in the markets.

The commodity channel index, CCI, is giving a neutral signal, which means that the prices are expected to remain in a consolidation phase.

Some of the technical indicators are giving a buy market signal.

Most of the moving averages are giving a buy signal at the current market level of $1645.

ETH is now trading above both the 100 hourly simple and 100 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1558
(https://i.postimg.cc/d0Cpv7Kw/etx.png)

ETHUSD continues to consolidate its gains and is now moving above the $1600 handle with an upside focus of $1700 and $1800 levels.

We can see the formation of the bullish trend reversal pattern with moving averages MA20 in the daily time frame.

The resistance of the channel is broken in the 15-minute time frame indicating a bullish outlook present in the markets.

ETHUSD touched an intraday high of 1677 in the Asian trading session and an intraday low of 1638 in the London trading session today.

The key support levels to watch are $1593 which is a 14-day RSI at 40%, and at $1637 at which the price crosses 18-day moving average stalls.

ETH has decreased by 0.73% with a price change of 12.10$ in the past 24hrs and has a trading volume of 6.909 billion USD.

We can see a decrease of 11.89% in the total trading volume in the last 24 hrs which is due to the market consolidation.

The Week Ahead

ETH has retracted after touching a high of $1677, and after this consolidation phase gets over, we are looking to cross the $1700 handle.

We can see the formation of a bullish ascending channel from $1558 towards the $1691 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral in present market conditions.

The resistance zone is located at $1686 which is a 14-3 day raw stochastic at 80% and at $1694 at which the price crosses 9-day moving average stalls.

The weekly outlook is projected at $1750 with a consolidation zone of $1700.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-02nd-mar-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 04, 2023, 07:28:38 PM
Watch FXOpen's February 27 - March 3 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.
(https://i.postimg.cc/G2sp56HL/img-009.png) (https://www.youtube.com/watch?v=6lRADdUmsMA)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 07, 2023, 05:08:20 PM
BTCUSD and XRPUSD Technical Analysis – 07th MAR 2023
(https://i.postimg.cc/Y0CK8syq/btc.png)

BTCUSD: Evening Star Pattern Below $23963

Bitcoin was unable to sustain its bullish momentum last week and after touching a high of $23963 on 01st March, the prices started to correct downwards against the US dollar, touching a low of $22048 on 03rd March.

We have seen a bearish opening of the markets this week.

We can clearly see an evening star pattern below the $23963 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 22544 in the Asian trading session, and an intraday low of 23370 in the European trading session today.

The momentum indicator is back under zero in the 4-hour time frame indicating bearish trends.

The price of bitcoin is ranging near a new record low of 1 month.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

We can see the formation of bearish engulfing lines in the 1-hour time frame.

The relative strength index is at 43.75 indicating a weak demand for bitcoin, and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a sell signal, which means that in the immediate short term, we are expecting targets of 22000 and 21500.

The average true range is indicating less market volatility with a bearish momentum.


Bitcoin: Bearish Reversal Seen Below $23963
(https://i.postimg.cc/d3NMfjzR/btcx.png)

The price of bitcoin is now moving in a consolidation channel above the $22000 handle after which fresh declines could be expected, or we can see some market correction upwards if the demand for bitcoin increases in the global markets.

Some of the technical indicators are also giving a neutral tone present in the markets.

We can see the formation of a bearish price crossover pattern with the adaptive moving average, AMA 50, in the 30-minute time frame.

The price of bitcoin is ranging near the resistance of the channel indicating a bearish trend present in the markets.

The immediate short-term outlook for bitcoin is strongly bearish, the medium-term outlook has turned bearish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $21780 which is a 3-10 day MACD oscillator stalls, and at $21851 at which the price crosses 18-day moving average stalls.

The price of BTCUSD is now facing its classic support level of 22376 and Fibonacci support level of 22404 after which the path towards 22000 will get cleared.

In the last 24hrs, BTCUSD has increased by 0.03% by 5.75$ and has a 24hr trading volume of USD 15.799 billion. We can see an increase of 1208% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

We can see that the price of Bitcoin has resumed its downtrend, which may extend to $21500 after which we may see some correction and change in the trend present in the markets.

There is a descending channel forming with the current support located at $20785 which is a 50% retracement from a 13-week high/low.

The daily RSI is printing at 43.26 which indicates a weak demand for bitcoin and the continuation of the bearish phase present in the markets in the short-term range.

We can see the formation of a bearish trendline from $23963 towards the $22141 level.

The price of BTCUSD is now facing its resistance zone located at $22695 which is a 14-3 day raw stochastic at 20% and at $22774 which is a 14-day RSI at 50%

The weekly outlook is projected at $21500 with a consolidation zone of $22000.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-07th-mar-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 09, 2023, 05:18:19 PM
ETHUSD and LTCUSD Technical Analysis – 09th MAR, 2023
(https://i.postimg.cc/zv4kfs2X/eth.png)

ETHUSD: Bearish Engulfing Pattern Below $1677

Ethereum was unable to sustain its bullish momentum and after touching a high of $1677 on 02nd Mar, the price started to decline against the US dollar  trading below the $1550 handle today in the European trading session.

We have seen a bearish opening of the markets this week.

The price of ETHUSD is ranging near a new record low of 1 month.

We can clearly see a bearish engulfing pattern below the $1677 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

ETH is now trading just below its pivot levels of 1537 and moving in a mildly bearish channel. The price of ETHUSD is now testing its classic support level of 1530 and Fibonacci support level of 1536 after which the path towards 1500 will get cleared.

We can see the formation of a black hanging man in the 4-hour time frame indicating a neutral tone of the markets.

The relative strength index is at 40.95 indicating a weak demand for Ether and a shift towards the consolidation phase in the markets.

The commodity channel index, CCI, is giving an oversold signal, which means that the price is expected to correct upwards in the short-term range.

Most of the technical indicators are giving a sell market signal.

Most of the moving averages are giving a sell signal at the current market level of $1531.

ETH is now trading below both its 100 hourly simple and 100 hourly exponential moving averages.


Ether: Bearish Reversal Seen Below $1677
(https://i.postimg.cc/4xk5RThW/etx.png)

ETHUSD continues to weaken and we can see a move towards the consolidation phase in the markets. Now the next visible targets are located at $1500 and $1450.

We can see the formation of the three black crows pattern in the 2-hour time frame indicating bearish trends.

The MACD crosses down its moving average in the 30-minute time frame indicating the bearish nature of the market.

ETHUSD touched an intraday high of 1552 in the Asian trading session and an intraday low of 1528 in the London trading session today.

The key support levels to watch are $1446 which is a 50% retracement from a 13 week high/low, and $1486 at which the price crosses 18-day moving average stalls.

ETH has decreased by 1.27% with a price change of 19.71$ in the past 24hrs and has a trading volume of 7.237 billion USD.

We can see a decrease of 0.87% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH was unable to cross the $1700 handle last week and now we are about to touch the $1500 level. If the demand for Ethereum increases we could witness a bounce in the levels next week.

We can see the formation of a bearish ascending channel from $1677 towards the $1522 level.

The immediate short-term outlook for Ether has turned mildly bearish, the medium-term outlook has turned bearish, and the long-term outlook for Ether is neutral in present market conditions.

The resistance zone is located at $1575 which is a 14-3 day raw stochastic at 20% and at $1586 which is a 14-day RSI at 50%.

The weekly outlook is projected at $1450 with a consolidation zone of $1500.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-09th-mar-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 10, 2023, 07:10:30 PM
Watch FXOpen's March 6 - 10 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video and stay updated with FXOpen.

(https://i.postimg.cc/v898fRXs/week-009.jpg) (https://www.youtube.com/watch?v=ihgq5UbO1Ms)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 14, 2023, 05:56:36 PM
BTCUSD and XRPUSD Technical Analysis – 14th MAR 2023
(https://i.postimg.cc/j5wZJwBp/btc.png)

BTCUSD: Bullish Engulfing Pattern Above $19552

Bitcoin was unable to sustain its bearish momentum last week and after touching a low of $19552 on 10th March, the prices started to correct upwards against the US dollar, touching a high of $24800 today in the European trading session.

We have seen a bullish opening of the markets this week.

We can clearly see a bullish engulfing pattern above the $19552 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 24800 in the European trading session, and an intraday low of 24005 in the Asian trading session today.

We can see the formation of bullish engulfing lines in the weekly time frame.

The price of bitcoin is ranging near a new record high of 1 month.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The MACD indicator is giving a bullish divergence signal in the weekly time frame.

The relative strength index is at 68.46 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term we are expecting targets of 24500 and 25000.

The average true range is indicating less market volatility with a bullish momentum.


Bitcoin: Bullish Reversal Seen Above $19552
(https://i.postimg.cc/Zn6Hwkbj/btcx.png)

The price of bitcoin is now moving in a strongly bullish momentum above the $24000 handle. After some market consolidation, we can see fresh upsides in the ranges of $24500 to $25500.

The MACD indicator is back over zero in the weekly time frame indicating a bullish trend.

We can see the formation of a bullish price crossover pattern with the adaptive moving average AMA 50 in the weekly time frame.

The MACD crosses up its moving average in the daily time frame indicating a bullish scenario.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $22460 which is a 14 day RSI at 50%, and at $23557 at which the price crosses the 9 day moving average stalls.

The price of BTCUSD is now facing its classic resistance level of 24381 and Fibonacci resistance level of 24426 after which the path towards 25000 will get cleared.

In the last 24hrs, BTCUSD has increased by 11.21% by 2462.33$ and has a 24hr trading volume of USD 46.508 billion. We can see an increase of 21.06% in the trading volume compared to yesterday, which is due to the buying seen at lower levels.

The Week Ahead

We have seen a Bullish correction in the prices of bitcoin and the resumption of a bullish trend which is expected to continue towards the $25000 levels.

With an increase in the global investor confidence, we can see an increase in the buying pressure and the trading volumes of bitcoin during the last 24hrs.

We can see the formation of a bullish doji star pattern in the 4-hour time frame.

The daily RSI is printing at 62.03 which indicates a strong demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $19552 towards the $24780 level.

The price of BTCUSD is now facing its resistance zone located at $25238 which is a 13-week high and $25814 which is a pivot point 1st resistance point.

The weekly outlook is projected at $25500 with a consolidation zone of $25000.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-14th-mar-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 16, 2023, 03:51:52 PM
ETHUSD and LTCUSD Technical Analysis – 16th MAR, 2023
(https://i.postimg.cc/XNkDq0SV/eth.png)

ETHUSD: Bullish Harami Pattern Above $1369

Ethereum was unable to sustain its bearish momentum and after touching a low of $1369 on 10th Mar, the price started to correct upwards against the US dollar touching a high of $1775 on 14th Mar.

We have seen a bullish opening of the markets this week.

The MACD indicator is giving a bullish divergence signal in the weekly time frame.

We can clearly see a bullish harami pattern above the $1369 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1660 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1705 and Fibonacci resistance level of 1761 after which the path towards 1800 will get cleared.

We can see the formation of bullish engulfing lines in the weekly time frame.

The relative strength index is at 55.18 indicating a strong demand for Ether and a shift towards the buying phase in the markets.

The STOCHRSI is giving an overbought signal, which means that the price is expected to decline in the short-term range.

Most of the technical indicators are giving a buy market signal.

Most of the moving averages are giving a buy signal at the current market level of $1650.

ETH is now trading above both its 100 hourly simple and 100 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1369
(https://i.postimg.cc/CLvPCHxX/etx.png)

ETHUSD continues to build upwards momentum and we are now looking to cross the $1700 handle after which the next visible targets are located at the $1800 level.

The parabolic SAR indicator is giving a bullish reversal signal in the weekly time frame.

The MACD indicator is back over zero in the weekly time frame indicating a bullish scenario present in the markets.

We can see the formation of a bullish trend reversal pattern with the adaptive moving average AMA20 in the 4-hour time frame.

ETHUSD touched an intraday high of 1664 and an intraday low of 1634 in the Asian trading session today.

The key support levels to watch are $1559 at which the price crosses 9-day moving average stalls, and at $1587 which is a 14-day RSI at 50%.

ETH has decreased by 2.21% with a price change of 37.60$ in the past 24hrs and has a trading volume of 12.639 billion USD.

We can see a decrease of 18.80% in the total trading volume in the last 24 hrs. which appears to be normal.

The Week Ahead

ETH was successful in crossing the $1700 handle and touched a high of $1775 after which we can see some downwards correction. After the price stabilizes, we are looking for fresh upsides in the range of $1700 to $1800 levels.

We can see the formation of a bullish ascending channel from $1369 towards the $1687 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether neutral under present market conditions.

The resistance zone is located at $1710 which is a pivot point 1st resistance point and at $1781 which is a 1-month high.

The weekly outlook is projected at $1850 with a consolidation zone of $1800.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-16th-mar-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 18, 2023, 12:36:34 AM
Watch FXOpen's March 13 -17 Weekly Market Wrap Video

*In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/QtCpX87x/week-09.png) (https://www.youtube.com/watch?v=ExDppgXpOj0)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 21, 2023, 04:01:32 PM
BTCUSD and XRPUSD Technical Analysis – 21st MAR 2023
(https://i.postimg.cc/ZnpfLh6Y/btc.png)

BTCUSD: Morning Star Pattern Above $23935

Bitcoin continues its bullish momentum from last week and after touching a low of $23935 on 15th March, the price started to correct upwards against the US dollar, touching a high of $28439 on 20th Mar.

We have seen a bullish opening of the markets this week.

We can clearly see a morning star pattern above the $23935 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 28180 in the Asian trading session, and an intraday low of 27378 in the European trading session today.

The price of bitcoin is ranging near a new record high of 1 year.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The RSI indicator is back over 50 in the 2-hourly time frame indicating bullish trends.

The relative strength index is at 63.77 indicating a strong demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of 28000 and 28500.

The average true range is indicating less market volatility with a bullish momentum.


Bitcoin: Bullish Continuation Seen Above $23935
(https://i.postimg.cc/05wHv7hg/btcx.png)

The price of Bitcoin is now moving in a strongly bullish momentum above the $27000 handle. After some retraction we can see fresh upsides in the ranges of $28000 to $28500.

We can see the formation of a bullish price crossover pattern with the adaptive moving average AMA 100 in the 2-hourly time frame.

The price of bitcoin is ranging near the support of the triangle in the 1-hour time frame indicating a bullish scenario.

We have also detected the formation of a three white soldiers pattern in the 30-minute time frame indicating a bullish outlook.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $24152 at which the price crosses the 9-day moving average, and at $25825 which is a 14-3 day raw stochastic at 70%.

The price of BTCUSD is now facing its classic resistance level of 27861 and Fibonacci resistance level of 28072 after which the path towards 28500 will get cleared.

In the last 24hrs, BTCUSD has decreased by 0.88% by 246.91$ and has a 24hr trading volume of USD 38.608 billion. We can see a decrease of 18.76% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

We can see that bitcoin continues its bullish momentum and the prices continue to remain above the $27000 handle. We are now looking for fresh upsides in the range of $28000 and $29000.

The demand for bitcoin continues and we can say that now crypto winter has ended with the resumption of the long-term bullish trend in the BTCUSD.

The daily RSI is printing at 70.68 which indicates a strong demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $23935 towards the $28667 Levels.

The price of BTCUSD is now facing its resistance zone located at $28496 which is a 1-month high and at $28796 which is a pivot point 1st resistance point.

The weekly outlook is projected at $29000 with a consolidation zone of $28500.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-21st-mar-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 23, 2023, 02:20:28 PM
ETHUSD and LTCUSD Technical Analysis – 23rd MAR, 2023
(https://i.postimg.cc/kgbqmyPt/eth.png)

ETHUSD: Double Bottom Pattern Above $1612

Ethereum was unable to sustain its bearish momentum and after touching a low of $1612 on 15th Mar, the price started to correct upwards against the US dollar touching a high of $1835 on 19th Mar.

We have seen a bullish opening of the markets this week.

The prices of Ethereum are ranging near a new record high of 1 month.

We can clearly see a double bottom pattern above the $1612 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1749 and is moving in a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1752 and Fibonacci resistance level of 1754 after which the path towards 1800 will get cleared.

We can see the formation of both bullish harami and bullish harami cross patterns in the daily time frame.

The relative strength index is at 46.05 indicating a neutral demand for Ether and a shift towards the consolidation phase in the markets.

The STOCHRSI is giving an overbought signal, which means that the price is expected to decline in the short-term range.

Most of the technical indicators are giving a buy market signal.

Most of the moving averages are giving a buy signal at the current market level of $1650.

ETH is now trading above both the 200 hourly simple and 200 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1612
(https://i.postimg.cc/CKpYLfwr/etx.png)

ETHUSD has been successful in crossing the $1800 barrier after which we have seen some pullback action in the markets due to the US Fed raising the interest rates, but this is temporary and we will again see ETHUSD touching the $1800 level soon.

We can see the formation of the bullish trend reversal pattern with the adaptive moving average AMA50 in the 4-hour time frame.

The Williams percent range is indicating a neutral level in both the 15- and 30-minute time frame.

ETHUSD touched an intraday low of 1715 in the Asian trading session and an intraday high of 1754 in the European trading session today.

The key support levels to watch are $1696 which is a 3-10-16 day MACD moving average stalls, and $1717 at which the price crosses the 9-day moving average.

ETH has decreased by 1.88% with a price change of 33.62$ in the past 24hrs and has a trading volume of 12.527 billion USD.

We can see an increase of 18.44% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH was successful in crossing the $1800 handle and touched a high of $1835 after which we can see some downwards correction. After the price stabilizes, we are looking for fresh upsides in the range of $1800 to $1900 levels.

We can see the formation of a bullish ascending channel from $1612 towards the $1843 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral under present market conditions.

The resistance zone is located at $1800 which is a pivot point 1st resistance point and at $1845 which is a 1-month high.

The weekly outlook is projected at $1900 with a consolidation zone of $1850.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-23rd-mar-2023/)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 24, 2023, 07:33:51 PM
Watch FXOpen's March 20 -24 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/76kSfVPc/week-009.png) (https://www.youtube.com/watch?v=N_As3E-VFJc)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 28, 2023, 04:50:24 PM
BTCUSD and XRPUSD Technical Analysis – 28th MAR 2023
(https://i.postimg.cc/FzQ8MShY/btc.png)

BTCUSD: Bearish Engulfing Pattern Below $28781

Bitcoin was unable to sustain its bullish momentum last week and after touching a high of $28781 on 22nd March, the price started to correct declining against the US dollar, touching a low of $26531 on 27th Mar.

We have seen a bearish opening of the markets this week.

We can clearly see a bearish engulfing pattern below the $28781 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 27238 in the Asian trading session, and an intraday low of 26837 in the European trading session today.

The commodity channel index is giving a bearish divergence signal in the weekly time frame.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The Ichimoku price is under the cloud in the weekly time frame indicating a bearish trend.

The relative strength index is at 38.03 indicating a weak demand for bitcoin, and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and above its 100 hourly exponential moving average.

Most of the major technical indicators are giving a sell signal, which means that in the immediate short term, we are expecting targets of 26000 and 25500.

The average true range is indicating less market volatility with a bearish momentum.


Bitcoin: Bearish Reversal Seen Below $28781
(https://i.postimg.cc/zDn9nxkK/btcx.png)

The price of Bitcoin was unable to cross the $29000 handle and we can see a sharp drop in the price which is now ranging below the $27000 level.

We are expecting more downsides in the range of $26000 and $25500 after which some market consolidation can be seen.

We can see the formation of the moving average bearish crossover pattern with the adaptive moving averages AMA50 and AMA100 in the daily time frame.

We have also detected the formation of a bearish Harami pattern in the 1-hour time frame.

The immediate short-term outlook for bitcoin is strongly bearish, the medium-term outlook has turned bearish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $25261 which is a 38.2% retracement from a 4-week high, and at $26013 which is a 14-3 day raw stochastic at 70%.

The price of BTCUSD is now facing its classic support level of 26880 and Fibonacci support level of 26966 after which the path towards 26000 will get cleared.

In the last 24hrs, BTCUSD has decreased by 3.75% by 1045.42$ and has a 24hr trading volume of USD 18.647 billion. We can see an increase of 28.44% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

We can see that bitcoin has changed tracks and is now moving under a continuous bearish pressure below the $27000 level.

The immediate target expected is $26000 after which we can see some consolidation in the zone of $25500 level.

The daily RSI is printing at 57.25 which indicates a neutral demand for bitcoin and the shift towards the consolidation phase in the medium-term range.

We can see the formation of a bearish trend line from $28781 towards the $26647 level.

The price of BTCUSD is now facing its resistance zone located at $27966 which is a 38.2% retracement from its 52-week low, and at $28029 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $26000 with a consolidation zone of $25500.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-28th-mar-2023/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 30, 2023, 03:26:44 PM
ETHUSD and LTCUSD Technical Analysis – 30th MAR, 2023
(https://i.postimg.cc/P52NrJjP/eth.png)

ETHUSD: Bullish HARAMI Pattern Above $1687

Ethereum was unable to sustain its bearish momentum, and after touching a low of $1687 on 27th Mar, the prices started to correct upwards against the US dollar touching a high of $1829 today in the Asian trading session.

We have seen a bullish opening of the markets this week.

The price of Ethereum is ranging near a new record high of 1 month.

We can clearly see a bullish Harami pattern above the $1687 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1798 and is moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1803 and Fibonacci resistance level of 1806 after which the path towards 1850 will get cleared.

We can see the formation of both bullish Harami and bullish Harami cross patterns in the 2-hour time frame.

The relative strength index is at 53.40 indicating a strong demand for Ether and the continuation of the buying pressure in the markets.

Both the STOCH and STOCHRSI are giving a neutral signal, which means that the prices are expected to enter into a consolidation phase in the short-term range.

Some of the technical indicators are giving a buy market signal.

Most of the moving averages are giving a buy signal at the current market levels of $1800.

ETH is now trading above both the 200 hourly simple and 200 hourly exponential moving averages.


Ether: Bullish Reversal Seen Above $1687
(https://i.postimg.cc/mrkkc4LV/etx.png)

ETHUSD is now testing to cross the $1900 levels and the current momentum suggests that we are now moving towards the $1850 level.

We can see the formation of bullish engulfing lines in the weekly time frame.

The price is back over the pivot point in the weekly time frame indicating bullish trends.

We can see the formation of moving average bullish crossover patterns MA20 and MA50 in the 4-hourly time frame.

We have also seen an upside gap in the 15-minute timeframe which indicates the bullish nature of the markets.

ETHUSD touched an intraday high of 1829 and an intraday low of 1774 in the Asian trading session today.

The key support levels to watch are $1744, at which the price crosses the 9-day moving average stalls, and $1769 at which the price crosses the 9-day moving average.

ETH has decreased by 0.92% with a price change of 16.80$ in the past 24hrs and has a trading volume of 9.457 billion USD.

We can see a decrease of 6.37% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH is facing stiff resistance at crossing the $1850 handle after which the next visible targets are located at $1900 and $1950.

We can see the formation of a major bullish trend line with the support located at $1679 at which the price crosses the 18-day moving average.

We can see the formation of a bullish ascending channel from $1687 towards the $1852 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral under present market conditions.

The resistance zone is located at $1830 which is a pivot point 1st resistance point and at $1913 which is a 38.2% retracement from a 52-week low.

The weekly outlook is projected at $1950 with a consolidation zone of $1900.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-and-ltcusd-technical-analysis-30th-mar-2023/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 31, 2023, 07:17:01 PM
Watch FXOpen's March 27 - 31 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/W3HZbsyz/img-009.jpg) (https://www.youtube.com/watch?v=EuCDbM0pG0Y)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 04, 2023, 07:51:54 PM
BTCUSD and XRPUSD Technical Analysis – 04th APR 2023
(https://i.postimg.cc/nrLp77GP/btc.png)

BTCUSD – Hammer Pattern Is Above $26,529

Last week, the bearish momentum in Bitcoin price didn't sustain, and after touching the low of $26,529 on 27th March, the prices started to correct upwards against the US Dollar and touched the high of $29,171 on 30th March.

At the beginning of the week, Bitcoin is ranging near a NEW record 1-month high. We can clearly see a hammer pattern above $26,529, which signals a downtrend reversal.

Bitcoin touched an intraday low of $27,244 in the Asian trading session and an intraday high of $28,144 in the European trading session today.

The Williams percent range indicator is back over -50 in the daily timeframe, indicating a bullish trend.

Both the STOCH and STOCHRSI are reflecting overbought conditions, which means that in the immediate short term, a decline in the prices is expected.

The price is back over the pivot point in the daily timeframe, which stands for the bullish nature of the markets.

The relative strength index is near 53, which is a sign of a NEUTRAL demand for Bitcoin and a shift towards the consolidation phase in the markets.

Bitcoin is above a 200-hour simple moving average and above a 200-hour exponential moving average.

The average true range is indicating lower market volatility with a bullish momentum.


Bitcoin Bullish Reversal Seen Above $26,529
(https://i.postimg.cc/4yFZ1d8N/btcx.png)

The prices of Bitcoin have been successful in crossing the $29,000 resistance, and now we are looking for fresh upsides in the range of $30,000 and $32,000.

With the continued support seen at lower levels, we can see the formation of an ascending channel which may push the prices of Bitcoin above $30,000.

There is also a bullish crossover pattern with the 20-period and 50-period adaptive moving averages in the 4-hour timeframe.

A support zone is located at $26,547, where the price crosses the 18-day moving average, and at $27,144, which is the first support of the pivot point indicator.

BTCUSD is now facing its classic resistance level of $28,188 and Fibonacci resistance level of $28,286, breaking which the price will be able to move to $29,000.

There is an increase of 31.90% in the daily trading volume, which is normal. The short-term outlook for Bitcoin is bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

The Week Ahead

We can see that Bitcoin has now resumed its long-term uptrend with the current support at $16,538 formed on 1st January 2023, which marked the end of the crypto winter.

Now the price of Bitcoin is ranging near the triangle's support in the 1-hour chart, reflecting bullish sentiment.

The immediate expected target is $30,000, after which we may see some consolidation in the zone of the $29,500 level.

Daily RSI is at 59.72, which indicates a NEUTRAL demand for Bitcoin and the shift towards the consolidation phase in the medium-term range.

We can see the formation of a bullish trendline from $26,529 to $28,771.

The BTCUSD is now facing resistance at $29,147, which is a 13-week high, and at $30,471, which corresponds to a 14-day RSI at 70.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-and-xrpusd-technical-analysis-04th-apr-2023/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 07, 2023, 01:01:26 AM
ETHUSD Technical Analysis – 06th APR, 2023
(https://i.postimg.cc/RZxYKMP7/eth.png)

ETHUSD – Hammer Pattern Is Above $1,763
(https://i.postimg.cc/jjsk3MYC/etx.png)

Bears couldn’t keep control of the market, and after touching a low of $1,763 on 03rd April, the ETH/USD pair started to correct upwards, touching a high of $1,939 on 05th April.

ETHUSD is now moving under bearish pressure after touching a high of $1,939 on 05th April. The immediate bearish pressure suggests we will enter a consolidation phase above the $1,850 level.

A hammer pattern is above the $1,763 handle. It’s a bullish pattern, which signifies the end of a bearish phase. Also, we can see the formation of the morning star pattern.

The price is above the Ichimoku cloud, indicating a bullish nature of the market. Moreover, Ethereum is near the support of the channel.

The relative strength index is at 56.91, indicating a strong demand for Ether and a continuation of the buying pressure in the markets.

The average directional index and commodity channel index give a neutral signal, meaning that the price is expected to enter into a consolidation phase in the short-term range.

Some of the technical indicators are giving a bullish market signal. Most moving averages are giving a bullish signal at the current market level of $1,866.

ETH is now trading above the 200-hour simple and 200-hour exponential moving averages.


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-technical-analysis-06th-apr-2023/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 07, 2023, 01:03:02 AM
LTCUSD Technical Analysis – 06th APR, 2023
(https://i.postimg.cc/brWw3GGN/ltc.png)

LTCUSD – Bullish Harami Pattern Is Above $86.64
(https://i.postimg.cc/CMQ5F2vT/ltx.png)

Bears couldn't pull the market further down last week, and after touching a low of $86.64 on 30th March, the prices started to correct upwards against the US Dollar, touching a high of $94.91 on 03rd April.

We have seen a bullish opening of the markets this week.

We can see a bullish harami pattern above the $86.64 handle. It signifies the end of a bearish phase and the start of a bullish phase in the market.

The price of Litecoin is near the channel's support, indicating upcoming bullish movement. Also, Litecoin is trading above its 100-hour simple moving average and 100-hour exponential moving average, and it's above the pivot level of $92.93.

The relative strength index is at $52.50, indicating a neutral demand for Litecoin and a shift towards the market consolidation phase.

The prices of Litecoin continue to remain above some of the moving averages, which are giving a bullish signal at current market levels of $90.65

Both the Williams percent range and commodity channel index are signalling neutral market conditions, which means that the price is expected to remain in a consolidation phase in the short-term range.

The short-term outlook for Litecoin has turned mildly bullish.


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ltc-technical-analysis-06th-apr-2023/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 12, 2023, 05:51:14 AM
BTCUSD Technical Analysis – 11th APR 2023
(https://i.postimg.cc/Qx1BRfyW/003.png)

Bitcoin continues its bullish momentum from last week, and after touching a low of $27,717 on April 6, we can see a bull run, which managed to push the prices of BTCUSD above the $30,000 handle today in the early European trading session.

The resistance of the channel is broken in the daily timeframe, indicating the strength of the bulls.

We can clearly see a hammer pattern above the $27,717 handle.

Bitcoin continues to move in a range-bound motion between the $29,800 and $30,200 levels, which is indicative of a consolidation phase in the markets.

Both the STOCH and Williams Percent Range indicate overbought levels, which means that in the immediate short term, a decline in the price is expected.

The relative strength index is at 74.02, indicating a strong demand for Bitcoin and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100-hour simple moving average and above its 200-hour exponential moving average.

Most of the major technical indicators are giving a bullish signal, which means that in the immediate short term, we are expecting targets of $31,000 and $32,500.

The average true range indicates low market volatility with strong bullish momentum.

(https://i.postimg.cc/kgCV9W0Y/004.png)


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/btcusd-technical-analysis-11th-apr-2023/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 12, 2023, 05:53:24 AM
XRPUSD Technical Analysis – 11th APR 2023
(https://i.postimg.cc/hPbDssny/005.png)

Last week, the market sentiment turned bullish after Ripple touched a low of $0.4915 on April 6 and started to correct. The market opened bullish this week.

On the hourly chart:

    The relative strength index is at 60.40, which signifies a strong demand for Ripple at the current market prices and the continuation of the bullish phase in the market.
    Moving averages signal an upward price movement at the current market level of 0.5203.
    Both the STOCH and CCI are in the neutral zones, which means the price is now resting in the consolidation zone.
    Ripple is now trading just below its pivot level of 0.5209 and is now facing its classic resistance at 0.5221 and Fibonacci resistance at 0.5241, after which it will be able to move towards 0.6000.

(https://i.postimg.cc/8zp10vP1/006.png)

Some of the major technical indicators are bullish.


We have also detected a bullish price crossover with 20 and 50-period moving averages in the weekly timeframe.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/xrpusd-technical-analysis-11th-apr-2023/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 17, 2023, 04:56:03 AM
ETHUSD Technical Analysis on April 13, 2023

The Morning Star Pattern Is Above $1,824
(https://i.postimg.cc/htPhtCbY/eth.png)

Bears couldn’t keep control of the market, and ETH/USD started to correct upwards after touching a low of $1,763 on 9 April.

ETHUSD is now moving under a strong bullish momentum after crossing the $2,000 resistance and may touch $2,100 and $2,200 levels.

The morning star pattern is above the $1,824 handle on the H1 timeframe. It’s a bullish pattern, which signifies the end of a bearish phase.

The relative strength index is at 78.57, indicating a strong demand for Ether and a continuation of the buying pressure in the markets.

The STOCHRSI and Williams’s percent range give an overbought signal, meaning that the price is expected to decline in the short-term range.

Most of the technical indicators are bullish. Most moving averages are bullish.

ETH is now trading above the 100-hour simple and 200-hour exponential moving averages.


(https://i.postimg.cc/vZqTgW0Z/etx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ethusd-technical-analysis-on-april-13-2023-the-morning-star-pattern-is-above-1-824/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 17, 2023, 05:02:53 AM
LTCUSD Technical Analysis on April 13, 2023
(https://i.postimg.cc/BZ138sgv/ltc.png)

Tweezer Bottom Pattern Is Above $89.15

Bears couldn't pull the market further down last week, and after touching a low of $89.15 on 9 April, LTC started to correct upwards against the US Dollar, touching a high of $96.85 on 11 April.

There is a tweezer bottom pattern above the $89.15 handle on the H1 timeframe. It signifies the end of a bearish phase and the start of a bullish phase in the market.

The price of Litecoin is near the channel's support, indicating upcoming bullish movement. Also, Litecoin is trading above its 100-hour simple moving average and 200-hour exponential moving average, and it's above the pivot level of $93.76.

The relative strength index is at 67.54, reflecting a very strong demand for Litecoin and the continuation of the buying pressure in the markets.

Litecoin remains above all moving averages, so the market is still bullish at the current market level of $94.23.

Both Williams’s percent range and STOCHRSI are signalling overbought market conditions, which means that the price is expected to decline in the short-term range.

The short-term outlook for Litecoin has turned as strongly bullish.


(https://i.postimg.cc/8PQSM3Km/ltx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ltcusd-technical-analysis-on-april-13-2023-tweezer-bottom-pattern-is-above-89-15/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 18, 2023, 03:25:50 AM
Watch FXOpen's April 10-14 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/GtFdXsBJ/img-009.png) (https://www.youtube.com/watch?v=9fC6e6vVKeU)


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Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 19, 2023, 12:34:41 AM
BTCUSD Technical Analysis on April 18, 2023
(https://i.postimg.cc/hGBXRYbR/btc.png)

BTCUSD Formed a Bullish Spinning Top Pattern above $29,138
(https://i.postimg.cc/0N0bkCcM/btx.png)

Bitcoin continues its bullish momentum from last week, and after touching a low of $29,138 on April 18, it moved towards a consolidation phase, after which we expect an upward movement to the $30,500-$32,000 range.

The market opened bullish this week. There is a bullish spinning top pattern above the $29,138 handle on the H1 timeframe.

Bitcoin continues to move up in a mild bullish momentum and is now aiming to cross the $30,000 psychological barrier.

Both the STOCH and STOCHRSI are in overbought zones, meaning that a decline in the price is expected in the immediate short term.

Bitcoin continues to range near a new 1-year high in the weekly timeframe.

The relative strength index is at 63.29, indicating a strong demand for Bitcoin and the continuation of the buying pressure in the markets.

Bitcoin is now moving above the 100-hour exponential and 200-hour exponential moving averages.

Most of the major technical indicators are bullish; the targets for the immediate short term are $30,500 and $32,000.

The average true range indicates low market volatility with mild bullish momentum.


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-technical-analysis-on-april-18-2023-btcusd-formed-a-bullish-spinning-top-pattern-above-29-138/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 19, 2023, 12:36:40 AM
XRPUSD Technical Analysis on April 18, 2023
(https://i.postimg.cc/Df4xPpjr/xrp.png)

XRPUSD Formed an Inverted Hammer Pattern Above $0.5041
(https://i.postimg.cc/fTx56thk/xrx.png)

Last week, the market sentiment turned bullish after Ripple touched a low of $0.5041 on April 13 and started to correct. The market opened bullish this week.

On the hourly chart:


Some of the major technical indicators are bullish.


We have also detected a bullish price crossover with 50- and 100-period moving averages in the daily time-frame.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-technical-analysis-on-april-18-2023-xrpusd-formed-an-inverted-hammer-pattern-above-0-5041/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 20, 2023, 06:50:19 PM
ETHUSD Technical Analysis on April 20, 2023
(https://i.postimg.cc/BZxsSLrM/eth.png)

Three Inside Down Pattern Is Below $2,140
(https://i.postimg.cc/NfBt5GYY/etx.png)

Bulls couldn't keep control of the market, and after touching a high of $2,140 on 16 April, the ETH/USD pair declined, touching a low of $1,923 today in the early Asian trading session.

ETHUSD is under bearish pressure after falling below the $2,000 psychological support level as the global investor sentiment appears weak after the Shanghai upgrade.

The three inside down pattern is below the $2,140 handle on the H1 timeframe. It's a bearish pattern, which signifies the end of a bullish phase. Also, there is a bearish harami pattern in the H2 timeframe.

ETH is back under the pivot point, indicating the bearish pressure in the market.

The relative strength index is at 37.74, indicating very weak demand for Ether and a continuation of the selling pressure in the market.

The STOCHRSI is giving an overbought signal, meaning that the price is expected to decline in the short-term range.

We also detected the formation of the bearish harami pattern in both the 30-minute and 1-hour timeframe.

Most of the technical indicators are bearish. Most moving averages are bearish at the current market level of $1,944.

ETH is now trading below the 100-hour simple and 200-hour exponential moving averages.


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ethusd-technical-analysis-on-april-20-2023-three-inside-down-pattern-is-below-2-140/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 20, 2023, 06:58:14 PM
LTCUSD Technical Analysis on April 20, 2023
(https://i.postimg.cc/SK3rvKVM/ltc.png)

Bearish Engulfing Pattern Is Below $103.38
(https://i.postimg.cc/qB8L14KN/ltx.png)

Bulls couldn't keep control of the market last week, and after touching a high of $103.38 on 18 April, the price declined against the US Dollar, touching a low of $89.06 today in the early Asian trading session.

There is a bearish engulfing pattern below the $103.38 handle on the H1 timeframe. It signifies the end of a bullish phase and the start of a bearish phase in the market.

The MACD has crossed down its moving average in the daily timeframe. Also, Litecoin is trading below its 100-hour simple moving average, 200-hour exponential moving average, and pivot level of $91.04.

The relative strength index is at 30.14, indicating very weak demand for Litecoin and the continuation of the selling pressure in the markets.

Litecoin remains below all of the moving averages, which are giving a bearish signal at current market levels of $90.37.

The STOCHRSI is signaling overbought market conditions, which means that the price is expected to decline in the short term.

The short-term outlook for Litecoin has turned strongly bearish.



VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ltcusd-technical-analysis-on-april-20-2023-bearish-engulfing-pattern-is-below-103-38/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 22, 2023, 04:25:58 AM
Watch FXOpen's April 17 - 21 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/gcSTWjjK/img009.png) (https://www.youtube.com/watch?v=IJHRNwx7HHI)


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Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 24, 2023, 01:38:25 PM
GBP/USD Eyes Bullish Breakout While EUR/GBP Consolidates Losses
(https://i.postimg.cc/fRdB5jXP/gbp.png)

GBP/USD is eyeing a key upside break above the 1.2470 resistance zone. EUR/GBP is now consolidating losses above the 0.8825 support.

Important Takeaways for GBP/USD and EUR/GBP


GBP/USD Technical Analysis
(https://i.postimg.cc/kgWvWMP3/gbpx.jpg)

On the hourly chart of GBP/USD at FXOpen, the pair found support near the 1.2365 zone. The British Pound formed a base and started a decent increase above the 1.2400 resistance against the US Dollar.

The pair even spiked above 1.2440 and the 50-hour simple moving average. However, upsides remained capped near the 1.2470 zone. The pair is now consolidating near the 50-hour simple moving average and the 23.6% Fib retracement level of the upward move from the 1.2367 swing low to the 1.2451 high.

On the downside, there is a major support forming near the 61.8% Fib retracement level of the upward move from the 1.2367 swing low to the 1.2451 high at 1.2400.

The next major support is near the 1.2365 level. If there is a downside break below the 1.2365 support, there is a risk of a sharp decline. In the stated case, GBP/USD may perhaps revisit the 1.2300 support. Any more losses could lead the pair toward the 1.2250 support.

On the upside, resistance is near a key bearish trend line at 1.2440. The pair might attempt a fresh increase if the RSI stays above 50. The next major resistance is near the 1.2470 level. A clear move above the 1.2470 level could spark a rally toward the 1.2540 level.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-gbp-usd-eyes-bullish-breakout-while-eur-gbp-consolidates-losses/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 25, 2023, 03:57:16 PM
BTC/USD: Bullish Engulfing Pattern Above $26,981
(https://i.postimg.cc/5tn1wRmd/btc.png)

Bitcoin continues its bullish momentum from last week, and after touching a low of $26,981 on April 24, we can see a move towards a consolidation phase, after which we are expecting upsides in the range of $28500 and $302000.

We can clearly see a bullish engulfing pattern above the $26,981 handle on the H1 timeframe.

Bitcoin continues to move in a consolidation phase, after which we can see upside moves towards the $28,000 handle.

Both the STOCH and Williams’ percent range indicate overbought levels, which means that in the immediate short term, a decline in the price is expected.

We can also see the formation of bullish Harami pattern in the 1, 2 and 4 hourly timeframes.

The relative strength index is at 58.23, indicating a strong demand for Bitcoin and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 200-hour exponential moving average and above its 200-hour exponential moving average.

Most of the major technical indicators are giving a bullish signal, which means that in the immediate short term, we are expecting targets of $28,500 and $30,000.

The average true range indicates high market volatility with mild bullish momentum.


(https://i.postimg.cc/LXWpWg7x/btcx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-btc-usd-bullish-engulfing-pattern-above-26-981/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 25, 2023, 04:01:47 PM
XRP/USD: Three Inside UP Pattern is Above $0.4404
(https://i.postimg.cc/85myF2dM/xrp.png)

Last week, the market sentiment remained indecisive after Ripple touched a low of $0.4404 on April 21 and started to correct upwards. The market opened bullish this week.

On the hourly chart:


Some of the major technical indicators are bullish.


We have also detected that MACD crosses UP its moving average in the 15-minutes timeframe.

(https://i.postimg.cc/kGjfsWp5/xrpx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-xrp-usd-three-inside-up-pattern-is-above-0-4404/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 28, 2023, 07:55:59 AM
ETHUSD Analysis: The Morning Star Pattern above $1,786
(https://i.postimg.cc/hv6X69kK/eth.png)

Bulls were able to take control of the market, and after touching a low of $1,786 on 26 April, the ETH/USD pair is showing bullish momentum, touching a high of $1,938 today in the early Asian trading session.

ETHUSD is under mild bullish pressure after its decline below the $1,800 handle due to improved investor sentiment and support seen at lower levels.

The morning star pattern is above the $1,786 handle on the H1 timeframe. It's a bullish pattern, which signifies the end of a bearish phase.

The price is above the Ichimoku cloud in the 15-minutes timeframe.

ETH is back above the pivot point, indicating the bullish pressure in the market.

The relative strength index is at 57.13, indicating a strong demand for Ether and a continuation of the buying pressure in the market.

The STOCHRSI is giving neutral, meaning that the price is expected to enter into a consolidation zone in the short-term range.

We also detected the formation of the bullish trend reversal pattern with the 50-period moving average in the 15-minutes timeframe.

Most of the technical indicators are bullish. Most moving averages are bullish at the current market level of $1,885.

ETH is now trading above the 200-hour simple and 200-hour exponential moving averages.


(https://i.postimg.cc/qB56NTzW/etx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ethusd-analysis-the-morning-star-pattern-above-1-786/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 28, 2023, 08:00:58 AM
LTCUSD Analysis: Inverted Hammer Pattern Is above $84.29
(https://i.postimg.cc/66yh4ff3/ltc.png)

Bulls were able to take control of the market last week, and after touching a low of $84.29 on 26 April, the price started to correct upwards against the US Dollar.

There is an inverted hammer pattern above the $84.29 handle on the H1 timeframe. It signifies the end of a bearish phase and the start of a bullish phase in the market.

The momentum indicator is back over zero in the H1 timeframe, indicating a bullish trend. There is also an upside gap located in the 15-minutes timeframe, which indicates the bullish nature of the market. We can see the formation of the Doji candle in the D1 timeframe, indicating the neutral tone of the market.

Also, Litecoin is trading below its 100-hour simple moving average, 200-hour exponential moving average, and pivot level of $91.57.

The relative strength index is at 53.164, indicating a neural demand for Litecoin and the shift towards the consolidation zone in the markets.

Litecoin remains above some of the moving averages, which is a bullish signal at the current market level of $88.33.

The CCI is signaling neutral market conditions, which means that the price is expected to move in a narrow range in the short term.

The short-term outlook for Litecoin has turned mildly bullish.


(https://i.postimg.cc/Njw8Vqq9/ltx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ltcusd-analysis-inverted-hammer-pattern-is-above-84-29/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 01, 2023, 06:50:55 AM
Watch FXOpen's April 24 - 28 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/8PrsHfSV/img-009.png) (https://youtu.be/LJa69Qrj8AY)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 03, 2023, 07:23:04 AM
BTCUSD Analysis: Shooting Star Pattern below $29,961
(https://i.postimg.cc/J0c15X0q/btc.png)

Bitcoin failed to continue its bullish momentum from last week, and after touching a high of $29,961 on April 30, it declined below the $28,000 handle today in the European trading session.

We can clearly see a shooting star pattern below the $29,961 handle on the H1 timeframe.

Bitcoin continues to move in a correction phase after crossing the $29,000 level, which is indicative of weakness in the immediate short term.

Both the STOCH and STOCHRSI are in overbought zones, which means that in the immediate short term, a decline in the price is expected.

We can see a bearish opening of the markets this week. The prices of Bitcoin are ranging near a new 1-month low.

The relative strength index is at 38.41, indicating very weak demand for Bitcoin and the continuation of the selling pressure in the market.

Bitcoin is now moving below 100-hour and 200-hour exponential moving averages.

Most of the major technical indicators are bearish, which means that in the immediate short term, we can expect a fall to $27,500 and $27,000.

The average true range indicates less market volatility with mild bearish momentum.


(https://i.postimg.cc/FFjs4MpL/btx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-btcusd-analysis-shooting-star-pattern-below-29-961/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 03, 2023, 07:25:36 AM
XRPUSD Analysis: Bearish Harami Pattern Is below $0.4869
(https://i.postimg.cc/j5cg6dKf/xrp.png)

Last week, the market sentiment remained indecisive after Ripple touched a high of $0.4869 on April 28 and started to correct downwards. The market opened bearish this week.

On the hourly chart:


Some of the major technical indicators are bearish.


The MACD indicator formed a bearish divergence in the 15-minute timeframe.

(https://i.postimg.cc/sx2nTdDN/xrpx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-xrpusd-analysis-bearish-harami-pattern-is-below-0-4869/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 04, 2023, 02:45:52 PM
ETHUSD Analysis: Bullish Engulfing Pattern above $1,805
(https://i.postimg.cc/zXj4PKk3/eth.png)

Bulls were able to take control of the market, and after touching a low of $1,805 on May 1, the ETH/USD pair moved upwards, touching a high of $1,916 today in the early Asian trading session. The bullish engulfing pattern is above the $1,805 handle on the H1 timeframe. It's a bullish pattern, which signifies the end of a bearish phase.

The market opened bullish this week. The ETH price remains well supported above the $1,800 level and is back above the pivot point.

The relative strength index is at 61.03, indicating a strong demand for Ether and a continuation of the buying pressure in the market.

Both the STOCH and CCI are neutral, meaning that the price is expected to enter into a consolidation zone in the short-term range.

A bullish reversal pattern with the 50-period moving average in the 2-hour timeframe was formed.

Most of the technical indicators are bullish. Most moving averages are bullish at the current Ethereum price of $1,899.

ETH is now trading above the 100-hour simple and 200-hour exponential moving averages.


(https://i.postimg.cc/P550GJ6y/etx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ethusd-analysis-bullish-engulfing-pattern-above-1-805/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 04, 2023, 03:21:48 PM
LTCUSD Analysis: The Morning Star Pattern Is above $85.16
(https://i.postimg.cc/CKtScXgF/ltcusd.png)

Bulls were able to take control of the market last week, and after touching a low of $85.16 on May 1, the price started to correct upwards against the US dollar, touching a high of $89.82 today in the early Asian trading session.

There is a morning star pattern above the $85.16 handle on the H1 timeframe. It signifies the end of a bearish phase and the start of a bullish phase in the market.

The momentum indicator is back over zero in the H4 timeframe, indicating a bullish trend.

A bullish harami pattern is forming in the 30-minute timeframe.

Also, Litecoin is trading below its 100-hour simple moving average and 200-hour exponential moving average and above its pivot level of $88.5.

The relative strength index is at 51.92, indicating a neural demand for Litecoin and the shift towards consolidation.

Litecoin price remains above some of the moving averages, which are giving a bullish signal at current market levels of $88.20.

Both the ADX and CCI are signaling neutral market conditions, which means that the price is expected to move in a narrow range in the short term.

The short-term outlook for Litecoin has turned mildly bullish.


(https://i.postimg.cc/NMHYSDsR/ltcx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ltcusd-analysis-the-morning-star-pattern-is-above-85-16/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 08, 2023, 06:42:55 AM
Watch FXOpen's May 1 - 5 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/0jB2XFKV/img-009.png) (https://www.youtube.com/watch?v=qtWX5uilD1g)


FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 09, 2023, 02:28:17 PM
BTCUSD Analysis: Three Black Crows Pattern below $29,829
(https://i.postimg.cc/j5b7WLKy/btc.png)

Bitcoin was unable to continue its bullish momentum from last week, and after touching a high of $29,829 on May 06, we can see a continuous decline in the bitcoin price, with immediate targets located in the range of $26500 and $27000.

We can clearly see a bearish three black crows pattern below the $29,829 handle on the H1 timeframe.

The price of Bitcoin continues to move in a bearish momentum, which is expected to continue towards the $27,000 handle.

Both the STOCH and Williams’s percent range indicate overbought levels, which means that in the immediate short term, a decline in the price is expected.

The Bitcoin chart is ranging near a new record low for 1 month.

The relative strength index is at 39.90, indicating a very weak demand for Bitcoin and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100-hour exponential moving average and below its 200-hour exponential moving average.

Most of the major technical indicators are giving a bearish signal, which means that in the immediate short term, we are expecting targets of $26,500 and $27,000.

The average true range indicates less market volatility with mild bearish momentum.


(https://i.postimg.cc/Gm6YCX57/btcx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-btcusd-analysis-three-black-crows-pattern-below-29-829/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 09, 2023, 02:32:09 PM
XRPUSD Analysis: Bearish Doji Star Pattern below $0.4706
(https://i.postimg.cc/fRbnNK99/xrp.png)

Ripple was unable to continue its bullish momentum from last week, and after touching a high of $0.4706 on May 05, we can see a continuous decline in the Ripple price, with immediate targets located in the range of $0.4000 and $0.3800.

On the hourly chart:


Some of the major technical indicators are bearish.


We have also detected the formation of bearish engulfing lines in the 4-hourly timeframe.

(https://i.postimg.cc/pL1NXFf1/xrx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-xrpusd-analysis-bearish-doji-star-pattern-below-0-4706/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 10, 2023, 02:40:58 PM
Ripple: News, Token Price Analysis
(https://i.postimg.cc/G9wPdRNb/xrp.png)

At the Fintech Summit in Dubai, Ripple CEO Brad Garlinghouse revealed the amount that Ripple has spent to defend itself in a legal dispute with the US Securities and Exchange Commission (SEC). He said:

“With the SEC, [...] by the time all’s said and done, we will have spent $200 million defending ourselves against a lawsuit, which from its very beginning, people were like, well, this doesn’t make a lot of sense.”

According to Brad, attempts to regulate cryptocurrencies in the US have come to a standstill, and therefore Ripple is considering expanding in Dubai, where laws are loyal to cryptocurrencies.

On March 9, we assumed that the price of Ripple could show strong dynamics amid expectations of a resolution of the conflict with the SEC — and yes, on March 29, the price of the XRP token in USD set a maximum since the beginning of the year. However, the conflict remained unresolved, and the bitcoin market is showing signs of weakness around the psychological USD 30k mark.

(https://i.postimg.cc/pTSYczJh/xrx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-ripple-news-token-price-analysis/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 11, 2023, 04:47:45 PM
ETHUSD Analysis: Bearish Engulfing Pattern Is below $1,972
(https://i.postimg.cc/gJwh9NS8/eth.png)

Bulls couldn’t  take control of the market, and after touching a high of $1,972 on 06 May, the ETH/USD pair is moving in a bearish trend, touching a low of $1,792 on 10 May.

ETH/USD is under mild bearish pressure after its decline below the $1,850 handle, with immediate targets of $1,800 and $1,750 visible in the H1 timeframe.

The bearish engulfing pattern is below the $1,972 handle, signifying the end of a bullish phase.

The relative strength index is at 36.51, indicating very weak demand for Ether and a continuation of the selling pressure in the market.

Both the STOCHRSI and Williams %R are signalling the ETH is oversold, meaning that the Ethereum price is expected to correct upwards in the short-term range.

ETH price is now trading below 100-hour simple and 200-hour exponential moving averages.


(https://i.postimg.cc/KzdMmBwV/etx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ethusd-analysis-bearish-engulfing-pattern-is-below-1-972/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 11, 2023, 04:51:01 PM
LTCUSD Analysis: Hanging Man Pattern Is below $87.83
(https://i.imgur.com/Ouhm8LV.png)

Bulls could not take control of the market last week, and after touching a high of $87.83 on 06 May, the price started to correct lower against the US dollar, touching a low of $77.17 on 10 May.

There is a hanging man pattern below the $87.83 handle on the H1 timeframe. It signifies the end of a bullish phase and the start of a bearish phase in the market.

The Litecoin price is back under the pivot point in the daily timeframe.

Also, Litecoin price is trading below its 100-hour simple moving average and 200-hour exponential moving average and just above its pivot level of $80.05.

The relative strength index is at 48.97, indicating a neural demand for Litecoin and the shift towards the consolidation zone in the markets.

Litecoin remains below most of the moving averages, which is a bearish signal at the current market level of $80.33.

The short-term outlook for Litecoin has turned mildly bearish.


(https://i.imgur.com/5kzq0RR.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ltcusd-analysis-hanging-man-pattern-is-below-87-83/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 12, 2023, 08:37:45 PM
Watch FXOpen's May 08 - 12 Weekly Market Wrap Video

In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


Watch our short and informative video, and stay updated with FXOpen.

(https://i.postimg.cc/YC44Jftj/img-009.png) (https://www.youtube.com/watch?v=b7N5AycrJfo)

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 16, 2023, 06:57:53 PM
BTCUSD Analysis: Hammer Pattern above $25,838
(https://i.postimg.cc/FstjXgt8/btc.png)

Bitcoin price continues its bullish momentum from last week, and after touching a low of $25,838 on May 12, we can see a move towards a consolidation phase, after which we are expecting upsides in the range of $28,500-$29,000.

We can clearly see a hammer pattern above the $25,838 handle on the H1 timeframe.

Bitcoin today continues to move in a consolidation phase, after which we can see upside moves towards the $27,000 handle.

Both the STOCH and Williams’s percent range are in overbought zones, which means that in the immediate short term a decline in the price is expected.

We can also see the formation of a bullish harami pattern in the 15-minute and weekly timeframes.

The relative strength index is at 48.98, indicating a neutral demand for Bitcoin and the continuation of the consolidation in the markets.

Bitcoin price is now moving above its 100-hour simple moving average and its 100-hour exponential moving average.

Most of the major technical indicators are giving a bullish signal, which means that in the immediate short term, we are expecting targets of $27,500 and $28,500.

The average true range indicates low market volatility with mild bullish momentum.


(https://i.postimg.cc/kXxWJ6q4/btcx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-btcusd-analysis-hammer-pattern-above-25-838/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 17, 2023, 02:36:02 PM
Strengthening US Dollar Creates Pressure on Bitcoin and Other Assets
(https://i.postimg.cc/bwRCtg7s/btc.png)

On Wednesday morning, the dollar index exceeded the high of April. The two following factors contributed to the strengthening of the USD:

→ Growing drama with public debt. Yesterday it became known that President Joe Biden and a senior Republican in Congress, Kevin McCarthy, are close to an agreement to raise the US national debt ceiling, but the decision has not yet been made. Goldman Sachs expects the US Treasury to run out June 8-13. And JPMorgan, Bank of America and Citigroup Inc executives say the damage to US business and the economy will begin long before a technical default. Investors see cash as a safe haven in case of default.

→ Strong retail sales data released yesterday. Core Retail Sales was +0.4%, while the values for the previous two months were negative.

The strengthening US dollar led to a fall in the exchange rate against the USD, to a decrease in the price of gold, as well as bitcoin.

(https://i.postimg.cc/k5XjF8Cw/btx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-strengthening-us-dollar-creates-pressure-on-bitcoin-and-other-assets/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 18, 2023, 04:37:26 PM
ETHUSD Analysis: Bullish Engulfing Pattern above $1,785
(https://i.postimg.cc/dQ8TCdry/eth.png)

Bulls were able to take control of the market, and after touching a low of $1,785 on 17 May, the ETHUSD pair started moving upwards, with strong demand seen above $1,800.

On the H1 timeframe:


(https://i.postimg.cc/RZ032D87/etx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ethusd-analysis-bullish-engulfing-pattern-above-1-785/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 18, 2023, 04:42:13 PM
LTCUSD Analysis: Inverted Hammer Pattern above $79.64
(https://i.postimg.cc/DwVG4gYL/ltc.png)

Bulls were able to take control of the market last week, and after touching a low of $79.64 on 13 May, the price started to correct higher against the US Dollar, crossing the $94.00 handle today in the European trading session.

The short-term outlook for Litecoin has turned mildly bullish.

On the H1 timeframe:


(https://i.postimg.cc/9QG7d7vS/ltx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-ltcusd-analysis-inverted-hammer-pattern-above-79-64/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 20, 2023, 10:25:34 PM
Watch FXOpen's May 15 - 19 Weekly Market Wrap Video

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Watch our short and informative video, and stay updated with FXOpen.

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#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 23, 2023, 04:08:49 PM
BTCUSD Analysis: Bullish Harami Pattern Above $26,394
(https://i.postimg.cc/Qtr4pNpp/btc.png)

Bitcoin’s price continues its bullish momentum from last week, and after touching a low of USD 26,394 on May 18, we can see a move towards a consolidation phase, after which we are expecting upsides in the range of USD 28500 and USD 29000.

On the hourly chart:


(https://i.postimg.cc/J4dpp5N7/btcx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-btcusd-analysis-bullish-harami-pattern-above-26-394/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 23, 2023, 04:12:26 PM
XRPUSD Analysis: Three White Soldiers Pattern Above $0.4441
(https://i.postimg.cc/1tY7dk2t/xrp.png)

Last week, the market sentiment remained indecisive after Ripple price touched a low of USD 0.4441 on May 18 and started to correct upwards, with the prices ranging near a new record high of 1 month.

On the hourly chart:


(https://i.postimg.cc/hvzZRCR0/xrpx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-xrpusd-analysis-three-white-soldiers-pattern-above-0-4441/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 25, 2023, 04:24:55 PM
ETHUSD Analysis: Bearish Harami Pattern below $1,871
(https://i.imgur.com/L22KpmY.png)

Bulls couldn’t take control of the market, and after touching a high of $1,871 on 23 May, the ETH/USD pair is moving in a bearish trend, touching a low of $1,762 today in the early Asian trading session.
(https://i.imgur.com/hAkVQJJ.png)

The short-term outlook for Ethereum has turned mildly bearish.

On the hourly chart:


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/nj-ethusd-analysis-bearish-harami-pattern-below-1-871/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 25, 2023, 04:36:53 PM
LTCUSD Analysis: Black Marubozu Pattern below $93.46
(https://i.imgur.com/pO9DiI6.png)

Bulls couldn’t take control of the market, and after touching a high of $93.46 on 23 May, the LTC/USD pair started moving in a bearish trend, touching a low of $82.60 today in the early Asian trading session.
(https://i.imgur.com/kK1LlFj.png)

The short-term outlook for Litecoin has turned mildly bearish.

On the hourly chart:


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/nj-ltcusd-analysis-black-marubozu-pattern-below-93-46/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 28, 2023, 01:13:52 PM
Watch FXOpen's May 22 - 26 Weekly Market Wrap Video

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights in FXOpen's May 22 - 26 Weekly Market Wrap Video.


Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen.

(https://i.postimg.cc/5yy0WcyZ/img-009.png) (https://www.youtube.com/watch?v=4iwoY5m7NDs)

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#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 30, 2023, 02:29:57 PM
BTCUSD Analysis: Tweezer Bottom Pattern above $26,121
(https://i.postimg.cc/k4HhztFM/btc.png)

Bitcoin price continues its bullish momentum from last week after touching a low of $26,121 on May 25, with strong upsides located in the range of $28,500 and $29,000.
(https://i.postimg.cc/5211nZ27/btcx.png)

On the hourly chart:


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-btcusd-analysis-tweezer-bottom-pattern-above-26-121/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on May 30, 2023, 02:33:22 PM
XRPUSD Analysis: White Marubozu Pattern above $0.4462
(https://i.postimg.cc/C5qYQ08t/xrp.png)

Ripple price continues its bullish momentum after touching a low of $0.4462 on May 25. Strong upsides are located in the range of $0.5200 and $0.5500.
(https://i.postimg.cc/dDcvMfm0/xrpx.png)

On the hourly chart:


VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ns-xrpusd-analysis-white-marubozu-pattern-above-0-4462/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 01, 2023, 12:00:49 PM
NASDAQ 100 Overtakes Bitcoin
(https://i.postimg.cc/W3hXMFyB/nas.png)

This is how prices for popular exchange-traded assets changed from March 1 to May 31:
→ The price of the NASDAQ 100 increased by almost 20%
→ The price of the S&P-500 increased by almost 6%
→ The price of gold increased by almost 7%
→ The price of bitcoin increased by almost 14%
→ The price of Ethereum increased by almost 12%

For a long time, cryptocurrencies were the leaders of the spring market, but in May, the NASDAQ-100 made a sharp leap upwards, thanks to the soaring of the NVDA share price and the hype around artificial intelligence (AI).

What will happen in summer?

According to Citigroup analysts, there is a risk that the rally in US technology stocks will end as investors want to take profits.

Perhaps the hype around AI will decrease, as its widespread adoption should take time. Barclays analysts note that past game-changing technologies took several decades to show up at the level of the entire economy. Take electricity, automobiles, and refrigeration, for example – US labor productivity skyrocketed in the 1950s, 3-4 decades after these technologies were introduced.

(https://i.postimg.cc/V6p44sQd/nasx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-spring-results-nasdaq-100-overtakes-bitcoin/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 06, 2023, 04:47:19 PM
Market Analysis: "Black Monday" for Crypto Community
(https://i.postimg.cc/PqnfPZqb/btc.png)

On June 5, it became known that the SEC filed a lawsuit against the largest cryptocurrency exchange Binance, collapsing the price of bitcoin and other cryptocurrencies.

Here is the essence of claims:

→ improper handling of customer funds,
→ misleading investors and regulators,
→ violation of the law on activities with "unregistered securities” — the stablecoins of the BUSD exchange, the native BNB token, as well as a number of cryptocurrencies.

In addition, a lawsuit was filed against the head of the Binance exchange, Changpeng Zhao, who hastened to reassure customers: do not give in to fears, the exchange continues its work.

(https://i.postimg.cc/cHNKy2YS/btcx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-black-monday-for-crypto-community/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 08, 2023, 12:51:04 PM
BTC/USD Analysis: Test of an Important Breakout Amid Scary News
(https://i.postimg.cc/zBLMQKPL/btc.png)

The cryptocurrency market is shaken by claims from the SEC. The lawsuits by the US financial regulator against the world's largest cryptocurrency exchange Binance and its head Changpeng Zhao have added to the lawsuits against the Coinbase exchange, whose shares are traded on Nasdaq. In response, Coinbase representatives said that the exchange has no plans to ban the trading of crypto assets that the SEC considers securities, and does not plan to phase out staking services.

Cryptocurrency market participants anxiously monitor incoming news:
→ Hearings are scheduled for June 14 on the SEC request to freeze Binance.US assets.
→ A division of Binance.US has drastically reduced the number of cryptocurrency pairs available for trading.
→ Coinbase does not see the risk of losing customers or banking partners; the exchange has more than $5 billion on its balance sheet, available to maintain operations and pay legal fees.

(https://i.postimg.cc/vBcFdpDZ/btcx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-analysis-test-of-an-important-breakout-amid-scary-news/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 10, 2023, 11:05:09 AM
The Crypto Market Is Under Pressure Due to SEC. Apart from This Coin
(https://i.imgur.com/L7K9qYc.png)

This week, the financial regulator SEC launched an attack on the cryptocurrency industry, suing the Binance and Coinbase exchanges, while classifying a number of popular coins as securities. As a result, since the beginning of June:

→ the price of bitcoin decreased by approximately 2.2%;
→ the price of Ethereum decreased by approximately 1.8%;
→ the price of BNB, the native token of the Binance exchange, has decreased by approximately 16%.

However, if we look at the Ripple chart today, we will see that the price of XRP has risen by about 2.5% since the beginning of the month. The fact is that Ripple has been in a state of litigation with the SEC since December 2020 (the commission also considers XRP a security). And the latest claims of the regulator have a lesser effect on the XRP exchange rate against the US dollar.

Moreover, rumors are circulating that the SEC has a presentiment that it can lose in a dispute with Ripple. And therefore, with new lawsuits against Binance and Coibase, it is trying to influence the decision in the case with Ripple, to reduce reputational risks.

(https://i.imgur.com/6lO6UMB.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/market-analysis-the-crypto-market-is-under-pressure-due-to-sec-apart-from-this-coin/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 12, 2023, 09:42:25 AM
Watch FXOpen's June 5 - 9 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson : PRICE OF BRENT OIL, S&P-500 , AAPL ANALYSIS, NATURAL GAS

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen.

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 14, 2023, 04:51:41 AM
BTCUSD Analysis: Clients Fleeing Binance
(https://i.postimg.cc/7YMtGgVR/btc.png)

According to various estimates, from USD 2.36 billion to USD 3.35 billion was withdrawn from the largest cryptocurrency exchange in 1 week. The head of the exchange, Changpeng Zhao, said that the drop in the balance could be exaggerated due to the depreciation of cryptocurrencies against the dollar, but fears are growing.

Hearings will be held today to freeze the assets of the Binance.US exchange in a lawsuit filed by the SEC. By the way, Binance also received a complaint from regulators in Nigeria, a country leading in the adoption of cryptocurrencies in Africa.

Cryptocurrency market enthusiasts are given hope by a bill introduced yesterday by Congressmen Warren Davids and Tom Emmer, which involves the restructuring of the SEC and the dismissal of its head, Gary Gensler. However, believing that this will happen may be too naive.

In one week after the lawsuits from the SEC, the market capitalization of crypto decreased by approximately USD 75 billion. The decline leaders are crypto assets that the SEC classified as securities - ADA, BNB, MATIC and others - about 60 assets in total. Fortunately for enthusiasts, ETH and BTC are not among them.

(https://i.postimg.cc/3x8Sgdfx/btcx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btcusd-analysis-clients-fleeing-binance/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 16, 2023, 08:46:08 AM
BTCUSD Analysis: Bears Attack the Psychological Level
(https://i.postimg.cc/ydCCQ1sL/btc.png)

Last night, the price of bitcoin fell below USD 25k for the first time since mid-March. And the bitcoin chart this morning shows sellers breaking through yesterday's low.

There can be two fundamental reasons for the dominance of sellers:

→ yesterday's press conference of the head of the US Federal Reserve (more details in the next post);

→ claims against the Binance and Coinbase exchanges by the US SEC regulator, which declared about 60 crypto assets as securities.

(https://i.postimg.cc/90W52L4T/btcx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btcusd-analysis-bears-attack-the-psychological-level/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 18, 2023, 11:28:19 AM
Watch FXOpen's June 12 - 16 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: USD/CNH, MSTF ANALYSIS, FED'S DECISION.

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What became known at Powell’s press conference.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 20, 2023, 04:02:14 PM
BTCUSD Analysis: Positivity Has Returned to the Markets, But for How Long?
(https://i.postimg.cc/vHr0d2hs/btc.png)

The price of bitcoin is rising to the highs of June after a sharp drop that happened due to SEC lawsuits against the Binance and Coinbase exchanges.

Fortunately for crypto investors, the situation did not go according to the worst-case scenario. The court did not freeze Binance.US funds, giving the regulator and exchanges the opportunity to find a compromise. But if it does, what kind of compromise will it find and when? It is not surprising that we will be able to witness the massive relocation of crypto companies from the US:

→ To the UK. This week, the House of Lords of England approved the FSMB cryptocurrency regulation project, which has been under consideration since June 2022. Now the document must be approved in Parliament and sent to the king for signature. This month, by the way, venture capital firm a16z announced plans to open its first office in London later this year, citing a more predictable business environment.

→ To the UAE. VARA, the world's first independent regulator of virtual assets, operates there. As of January 2023, there were over 500 cryptocurrency startups operating in Dubai.

→ To Hong Kong, where the Securities and Futures Commission (SFC) approved a loyal licensing regime for virtual asset trading platforms.

→ To Europe, where the principles of regulation of the cryptocurrency market are laid down in Markets in Crypto Assets (MiCA).

Meanwhile, the bitcoin chart shows that the market has formed a false breakout of the USD 25k psychological level. We wrote about this option on June 15th.
(https://i.postimg.cc/xTD6hVK5/btcx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btcusd-analysis-positivity-has-returned-to-the-markets-but-for-how-long/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 22, 2023, 11:48:40 AM
Why the Price of Bitcoin Rose to USD 30k
(https://i.imgur.com/NJYMEQO.png)

Yesterday, the BTC price topped USD 30k for the first time since April. There may be several reasons, among them:

→ Powell's speech to lawmakers on Capitol Hill yesterday. The Fed chief said further rate hikes are a pretty good guess as to where the Fed is heading. The dollar index reacted to his hawkish statement with a fall. At the same time, it pushed up the bitcoin rate against the dollar. In addition, Powell paid tribute to cryptocurrencies, saying that they are stable and adding that the Fed views stablecoins as a form of money;

→ after the negative news background related to the Fed lawsuits, positive events followed, indicating the interest of institutional firms in the US in the crypto market. For example, the BlackRock fund (more than USD 8 trillion under management) filed an application last week to launch an ETF based on bitcoin. And a new cryptocurrency exchange, EDX Markets, backed by Citadel Securities, Fidelity and Schwab, has gone live;

→ change in the balance of supply and demand in the market after the price of bitcoin breaks through the psychological level of USD 25k.

(https://i.imgur.com/9j4Kzyn.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-why-the-price-of-bitcoin-rose-to-usd-30k/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 23, 2023, 04:29:58 PM
Watch FXOpen's June 19 - 23 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson : USD/JPY, FTSE 100 ON DECLINE, INTC SHARES UP, GBP

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on June 26, 2023, 10:44:20 AM
The Price of Bitcoin Updates the Maximum of the Year, What's Next?
(https://i.imgur.com/iOgsqTF.png)

After skyrocketing last week for the 3 reasons we wrote about earlier, the price of bitcoin hit a 2023 high on Friday, surpassing USD 31,400 per bitcoin. This was facilitated by the news that the SEC approved the first exchange-traded fund (ETF) of bitcoin futures with leverage.

In April, the bulls were already above the psychological level of USD 30k per bitcoin, but after that a pullback followed, culminating in the price dropping below the psychological level of USD 25k per bitcoin. The BTC/USD market once again emphasized the emotionality of its participants — this is how you can interpret the tendency of the bitcoin exchange rate to the US dollar to make reversals after the breakdown of psychological levels.

What will happen next? Will the price of bitcoin follow the June breakdown according to the rollback scenario that was realized after the April breakdown? The probability of this is indicated by the bearish SHS patterns (head-and-shoulders), which formed when the price of bitcoin exceeded the level of 30k. You may also have deja vu, as the 2 peaks above 30k in 2023 resemble the 2 peaks (in April and November) above 60k in 2021.

(https://i.imgur.com/6RR65yU.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-the-price-of-bitcoin-updates-the-maximum-of-the-year-whats-next/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 01, 2023, 04:45:31 AM
Watch FXOpen's June 26 - 30 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: GBP/EUR, AAPL ALL-TIME HIGH, GOLD DROP

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 07, 2023, 01:29:08 PM
The Price Has Updated the High of the Year, What's Wrong With That?
(https://i.imgur.com/TJ5WHcd.png)

In an interview with Fox Business, the CEO of Black Rock fund (over $8 trillion under management), Larry Fink, made some positive comments about bitcoin. Briefly:

→ bitcoin can become a catalyst for the tokenization of various assets and securities, which, in turn, can lead to a revolution in the financial sector;
→ bitcoin has unique properties that distinguish it from traditional stores of value such as gold. For example, its international recognition.

Fink also expressed the hope that the positive experience of cooperation between Black Rock and the SEC will allow the regulator to approve the launch of an ETF based on bitcoin (the application has already been submitted, but Larry did not give forecasts on the timing of its consideration).
(https://i.imgur.com/vD1UkJx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btcusd-analysis-the-price-has-updated-the-high-of-the-year-whats-wrong-with-that/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 08, 2023, 07:44:40 AM
Watch FXOpen's July 3 - 7 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: TSLA STOCK, USD/JPY, NASDAQ, FTSE 100 DROPS

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 12, 2023, 12:01:02 PM
Standard Chartered Predicts Bitcoin at $120k
(https://i.imgur.com/rO8ZcAE.png)

The value of the largest cryptocurrency could reach USD 50,000 this year and USD 120,000 by the end of 2024, according to analysts at Standard Chartered, Reuters reports.

Note that earlier, bank analysts predicted that the cost of BTC at the end of 2024 would be USD 100,000, but now they have increased their forecast for the price of bitcoin by 20%, based on the assumption of a change in the behavior of miners that can limit the supply of bitcoins as its price rises.

Time will tell how true the bitcoin price forecast for 2024 from Standard Chartered will be, but on the BTC/USD chart today there is an argument in favor of the fact that the forecast can be realized. This is the nature of price action around the USD 30k psychological level.

Compare 2 periods when the price of bitcoin exceeded USD 30k.

In April, the price met strong resistance only USD 500 higher, and a week after the breakdown of USD 30k, it rushed down.

And now is the second period, which began on June 21 and continues to last. The level of immediate resistance above the psychological level is already higher — at around 31k, and the price of bitcoin has not fallen (except for short-term punctures) below USD 30k for almost 3 weeks.
(https://i.imgur.com/Ax7ZWFk.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-standard-chartered-predicts-bitcoin-at-120k/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 14, 2023, 01:23:47 PM
XRP Is Not a Security!
(https://i.imgur.com/TgQHO57.png)

The ruling was announced by Judge Analisa Torres of the Southern District of New York. The litigation that lasted more than three years between the US SEC regulator and Ripple Labs ended in favor of the latter, to the great joy of the entire cryptocurrency community.

The head of Ripple Labs, Brad Garlinghouse, thanked everyone who helped the company win the lawsuit. And the Coinbase exchange announced that the XRP token will be allowed to trade again.

The price of the XRP token rose sharply in price against the backdrop of a positive court decision (we pointed out the likelihood of this event back in winter), while:

→ the capitalization of Ripple exceeded $40 billion;

→ “shortists” (those who bet on the price decrease) lost about $31 million, as evidenced by the total data on the liquidation of positions on the largest cryptocurrency exchanges;

→ the sharp rise in the price of the XRP token led to an increase in the price of BTC/USD, ETH/USD and other cryptocurrencies.

(https://i.imgur.com/HKmn1tw.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-xrp-is-not-a-security/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 14, 2023, 09:40:59 PM
Watch FXOpen's July 10 - 14 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: USD/CHF, UK STOCK MARKET, S&P 500 PRICE DROP

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 19, 2023, 12:33:27 PM
Bitcoin Hits July Low
(https://i.imgur.com/lC6RMj9.png)

The crypto community continues to discuss the victory of Ripple Labs in court against the SEC, expecting that the regulator:

    also loses in court against Binance, Coinbase;
    approves Black Rock's Bitcoin ETF application.

Crypto exchanges are resuming trading in the XRP token, and according to media reports, Congressman Richie Torres has appealed to SEC Chairman Gary Gensler to stop attacking cryptocurrencies.

(https://i.imgur.com/EJpxDrn.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-bitcoin-hits-july-low/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 24, 2023, 07:01:31 AM
Watch FXOpen's July 17 - 21 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: EUR/USD, FTSE 100, CRUDE OIL PRICES, NETFLIX NEWS

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Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

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#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 25, 2023, 11:48:12 AM
BTC/USD Analysis: Breakdown of July Support
(https://i.imgur.com/w4AGr22.png)

Yesterday, the price of BTC/USD fell below the level of 29,700, a support that has been in place for about a month.

What are the reasons for the decline? CNBC writes about:

    strengthening of the USD on the eve of the Fed's meeting on the interest rate, which puts pressure on the price of bitcoin, denominated in US dollars;
    an article in the WSJ raising concerns for the crypto industry in light of the pending SEC lawsuit against Binance.
(https://i.imgur.com/VTgDsJY.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-analysis-breakdown-of-july-support/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on July 31, 2023, 11:13:25 AM
Watch FXOpen's July 24 - 28 Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: BRENT OIL PRICE, BRITISH POUND & US DOLLAR, META

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 07, 2023, 09:04:21 AM
Watch FXOpen's 30 July - 04 August Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: GBP/USD, US Credit Rating, Gold, AMD

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 08, 2023, 11:02:36 AM
BTC/USD Price Analysis: ADX Indicator Falls to the Lowest Level of 2023
(https://i.imgur.com/nI0Zm1J.jpg)

The latest news from the world of cryptocurrencies could be both bearish and bullish drivers:

→ PayPal launches a stablecoin that will be pegged to the dollar and backed by US Treasuries;

→ Cathie Wood believes that the SEC can approve several BTC ETFs at the same time;

→ the Central Bank of Brazil plans to launch its digital currency called DREX in 2024;

→ rumors about problems with the USDC stablecoin are spreading in the network;

→ the US Department of Justice is considering filing fraud charges against Binance.

However, the BTC/USD rate has stabilized around USD 29,000 per coin since July 25th. The bitcoin market is showing unusually low volatility (except for the surge associated with news from the Fed). At the same time, the ADX indicator, which helps determine the presence of a trend, fell to its lowest level since 2023. Obviously, this indicates that the market is flat. But note the trend that followed in early 2023 as the ADX fell close to its current low.
(https://i.imgur.com/dPnT753.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-price-analysis-adx-indicator-falls-to-the-lowest-level-of-2023/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 12, 2023, 11:16:14 PM
LTC/USD Analysis: Litecoin Price Declines after Halving
(https://i.imgur.com/TsAxjeu.jpg)

On Wednesday, August 2, the planned halving took place in the Litecoin network. Now the reward of miners for each mined block has decreased by 2 times from 12.5 LTC to 6.25 LTC. Theoretically, this should make the cryptocurrency more scarce.

On the eve of the halving, experts were bullish. Thus, financier David Cox voiced a forecast about a possible increase in LTC to USD 189.2. Analyst Michaël van de Poppe provided a bolder upside scenario to USD 200. Also positive statements were made by the creator of the Litecoin project Charlie Lee. However, in fact, we see that the LTC/USD rate fell after the halving.

(https://i.imgur.com/40mqhp2.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-ltc-usd-analysis-litecoin-price-declines-after-halving/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 17, 2023, 11:42:45 AM
XRP/USD Price Rolls Back to Important Support
(https://i.imgur.com/tHz4y0r.jpg)

July was marked by the end of the trial between the SEC regulator and Ripple Labs in favor of the latter, which led to a sharp increase in the XRP token to a price above USD 0.9, but then a rollback followed after the first emotional reaction.

By the way, the trial is not completed yet. As it became known, the SEC intends to appeal the court's decision.

Bearish arguments:

→ The price of the XRP token may fall after the SEC formally files an appeal.
→ The price of the XRP token has rolled back by more than 2/3 from the July rapid growth — this is too deep a size for a normal correction.

(https://i.imgur.com/qk64UXQ.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-xrp-usd-price-rolls-back-to-important-support/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 18, 2023, 11:54:30 AM
BTC/USD price analysis: The Price of Bitcoin Collapses by about 8% in One Day
(https://i.imgur.com/VdlaVU4.jpg)

This morning the BTC/USD price is near 26,500, the lowest price since mid-June.

What is the reason for this? Among the drivers of the decline may be information that Elon Musk's SpaceX company intends to sell (or has already sold) USD 373 million worth of bitcoins. However, the collapse could have been influenced more by technical than by fundamental factors.

On August 8, we wrote that the ADX indicator fell to a minimum since the beginning of the year — that is, the market was in a protracted flat. It was a vulnerable position for the birth of a new impulse.

Note that the USD 30K psychological level acted as resistance in August — the price was not able to stay higher for long. It was logical to assume that the bears would try to take the initiative. And it happened this week — notice the widening bearish candles on August 15-16 as we approach the 28,800 support.

The decline triggered a cascade of stop-losses (more than USD 1 billion worth of positions on cryptocurrency exchanges were liquidated), which intensified the selling wave.

(https://i.imgur.com/7Nfss6l.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-price-analysis-the-price-of-bitcoin-collapses-by-about-8-in-one-day/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 23, 2023, 12:47:04 PM
BTC/USD Price Analysis: RSI Drops to Lowest Since March 2020
(https://i.imgur.com/NJ13KUp.jpg)

The last time this classic indicator dropped below the 20.0 level was in March 2020, when the world panicked due to the spread of the coronavirus.

The extremely low RSI values indicate an extremely oversold market — it was formed as a result of the collapse of the BTC/USD rate on August 17, the reasons for which are not clear. Among the versions are:
→ SpaceX's decision to sell bitcoins from its balance sheet;
→ high yields of US government bonds (10-year bonds are at a 14-year high);
→ the collapse of the Chinese developer Evergrande.

Be that as it may, the decline of RSI below the level of 20.0 should not be interpreted as a signal to open a long position, although there is evidence for this.

Bullish arguments:

→ a long lower shadow on yesterday's candle on the daily bitcoin price chart confirms the aggressiveness of the bulls defending the 25.6k level;
→ this level approximately coincides with the Fibo level at 0.38 for a rollback from the growth of A→B;
→ the bitcoin market may follow the stock market — after all, the S&P 500 is at the lower boundary of the rising channel, which operates in 2023.
(https://i.imgur.com/4ws5oIk.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-price-analysis-rsi-drops-to-lowest-since-march-2020/?utm_source=fxopen_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 26, 2023, 12:37:19 PM
Watch FXOpen's 21 - 25 August Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: EUR/USD, GBP/USD, NVDA SHARE PRICE RISES, WTI OIL GO MINIMUM

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 29, 2023, 02:00:43 PM
Bitcoin Trading Volumes Fell to a Minimum of 4 Years
(https://i.postimg.cc/ZKS2YHs4/btc.jpg)

CNBC, citing CryptoQuant agency, reports that:

→ the total volume of bitcoins held on all cryptocurrency exchanges is at its lowest level since 2019;
→ as of August 26, the volume of bitcoin trading on all exchanges was about 130k BTC;
→ a maximum of 3.5 million BTC were traded in 1 day.

Perhaps the decrease in trading volumes is due to a drop in interest due to the uncertainty with the regulation of cryptocurrencies, or the fading of the bullish trend that began from the early days of 2023.

According to JP Morgan analysts, a decrease in open interest may indicate that the price of bitcoin is near a significant low, but the BTC/USD chart suggests that the bearish trend may continue. This is indicated by the descending channel, the outlines of which are becoming clearer.

(https://i.postimg.cc/PrQcCD0Z/btcx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-bitcoin-trading-volumes-fell-to-a-minimum-of-4-years/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on August 31, 2023, 12:03:43 PM
BTC/USD Analysis: Bulls Lose Progress Amid SEC Defeat
(https://i.postimg.cc/v8fVX1W8/btcusd.jpg)

On Tuesday, the price of bitcoin rose sharply from around USD 26,000 to USD 28,000 per coin. This was due to a ruling by the US District of Columbia Court of Appeals that said the Securities and Exchange Commission (SEC) was wrong to reject Grayscale's application to convert its Bitcoin Trust (GBTC) into a BTC Spot Exchange-traded Fund (ETF). A spot ETF would allow investors to access the leading cryptocurrency without actually holding BTC.

The SEC has repeatedly rejected Bitcoin spot ETF applications in the past, citing market manipulation concerns. But the court said the SEC failed to adequately explain its refusal to grant Grayscale's ETF bid, to the delight of the cryptocurrency community.

(https://i.postimg.cc/xTQbZ0Rv/btcusdx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-analysis-bulls-lose-progress-amid-sec-defeat/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 02, 2023, 01:39:56 PM
Watch FXOpen's 28 August - 1 September Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: FTSE 100, RATE HIKES, BTC, HPQ

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Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen.

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#fxopen #fxopenyoutube #fxopenuk #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 08, 2023, 12:54:04 PM
Bitcoin Sets September High
(https://i.postimg.cc/4dQFdCZf/btc.jpg)

The price of the main cryptocurrency rose above the level of 26k US dollars. This was fueled by the news that Ark Invest and 21Shares filed applications with the US Securities and Exchange Commission (SEC) for a spot ETF on Ethereum.

Some say recent verdicts in favor of cryptocurrency firms Grayscale and Ripple Labs in lawsuits against the SEC increase the chances that ETF applications for Ethereum will be approved. We also note that applications for bitcoin ETFs from BlackRock and other funds are being reviewed by the SEC, but the deadlines for these applications, originally set for early September, have been postponed to a later date.

Meanwhile, Barrons writes that the NASDAQ exchange is preparing infrastructure for cryptocurrency trading, which is causing bullish sentiment among cryptocurrency enthusiasts. But the BTC/USD chart gives reason to doubt.

(https://i.postimg.cc/prVc50XD/btcx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-bitcoin-sets-september-high/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 08, 2023, 10:38:33 PM
Watch FXOpen's 4 - 8 September Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: APPLE IN TROUBLE, DOLLAR STRENGTHENED, USD/CAD, NIKKEI 225

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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#fxopen #fxopenyoutube #fxopenuk #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 16, 2023, 06:29:21 AM
Watch FXOpen's 11 - 15 September Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: GBP/USD, DOLLAR TRYING TO UPWARD, GOLD PRICE EYES RECOVERY.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 19, 2023, 11:27:36 AM
Cryptocurrency Prices Rise on SEC Rumours
(https://i.imgur.com/2skMxFl.jpg)

Various media outlets report the opinion that SEC Chairman Gary Gensler expressed in a personal conversation. He allegedly intends to approve applications for the creation of ETFs related to the cryptocurrency spot markets. Such applications were submitted by BlackRock, Invesco, WisdomTree, Valkyrie and other respectable funds. But for now, the SEC's decision on the applications has been delayed.

At the same time, it is reported that by giving the go-ahead to applications, Gary Gensler can thereby gain loyalty from the funds, and after the end of his period as head of the SEC, go to work for one of them.

Against the backdrop of the information mentioned, the crypto markets perked up —  the prices of bitcoin, Ether and other assets rose by approximately 3% in a few hours. However, it is unlikely that such rumors can become a driver for creating a sustainable trend.

(https://i.imgur.com/4OEzviY.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-cryptocurrency-prices-rise-on-sec-rumours/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 23, 2023, 07:45:03 AM
Watch FXOpen's 18 - 22 September Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: UK STOCK MARKET RISES, S&P 500 FALLS, OIL ANALYSIS, EUR/GBP

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen.

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 28, 2023, 12:42:11 PM
Bitcoin Cash Analysis: Promising Resistance Breakout
(https://i.postimg.cc/YSH1qcLR/bch.jpg)

Yesterday, the head of the SEC regulator, Gary Gensler, answered questions for 4 hours before the Financial Services Committee of the US House of Representatives, which, among other things, related to cryptocurrencies.

What has become known:

→ on the eve of the hearing, Gary Gensler was sent a letter from four members of the US Congress demanding approval of applications for ETFs based on cryptocurrencies;
→ the head of the SEC avoided answering questions about the timing of decisions on these applications, although he noted that if the agency’s work was stopped on October 1 (like other government agencies), this would slow down the process;
→ for participants in the cryptocurrency market, the event could have given a positive impetus if Gensler’s words had contained hints of positivity, but he once again spoke out about the dangerous prohibited practices that crypto firms use.

(https://i.postimg.cc/kg8QmMGD/bchx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-bitcoin-cash-analysis-promising-resistance-breakout/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on September 30, 2023, 06:25:35 AM
Watch FXOpen's 25 - 29 September Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: Inflation, EUR/USD, S&P 500, OIL

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 10, 2023, 11:00:01 AM
Bitcoin Price Cannot Stay above $28k
(https://i.imgur.com/LUBbpVW.jpg)

The first day of October coincided with the first attempt of the bulls to overcome the resistance level of USD 28,000 per coin, but on the 2nd of October, the sellers showed their presence. Since that time, the price has repeatedly exceeded the level of 28k, but each time not for long, after which a decline followed.

Yesterday, there was another such decline. As the BTC/USD chart shows today, the rate is around 27,600. And it seems that the bulls may no longer have the strength to make a new attempt.

Analyzing the bitcoin market on September 8, we pointed out a list of bearish arguments that give reason to doubt the positive prospects for bitcoin. The described price action of about 28k is another bearish argument in this list.

(https://i.imgur.com/ZfR0uKZ.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-bitcoin-price-cannot-stay-above-28k/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 14, 2023, 07:29:21 AM
Watch FXOpen's 9 - 13 October Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: OIL & ISRAEL-GAZA CONFLICT , S&P 500 POSITIVE, GOLD RISEN.

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 17, 2023, 11:24:31 AM
Bitcoin Tests Psychological Level of $30k
(https://i.imgur.com/pnti1uq.jpg)

Paradoxically, cryptocurrencies, which conceptually pursue decentralization goals, have become overly sensitive to regulatory news.

Surprising news from Cointelegraph that the SEC would approve an application for a spot Bitcoin ETF from BlackRock raised the price of the coin to USD 30,000.

The market’s positivity was added by the opinion of SkyBridge Capital founder Anthony Scaramucci, who believes that Bitcoin’s capitalization can with ease reach USD 15 trillion due to the actions of the Fed and global de-dollarization.

On some crypto exchanges, the price of derivatives associated with the main cryptocurrency even significantly exceeded the psychological mark of USD 30k.

However, Cointelegraph later deleted the post.

And on Tuesday morning, the BTC/USD rate consolidated below 29k USD.

(https://i.imgur.com/NZOvfhY.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-bitcoin-tests-psychological-level-of-30k/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 20, 2023, 06:49:39 PM
Watch FXOpen's 16 - 20 October Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: POUND RISES, NASDAQ SEES A DIP, NFLX PRICE SOARS 12%, OIL

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 23, 2023, 10:35:16 AM
Bitcoin Breaks Psychological Level of $30k
(https://i.imgur.com/HP1QC4o.jpg)

On Friday-Sunday, the price of BTC/USD several times exceeded the round level of 30,000, but the excess was short-lived; soon, the price rolled back down. But the pressure of the bulls did not weaken, and since the beginning of Monday, the price of bitcoin rose above 37,000.

A combination of bullish factors contributed to the rise in bitcoin prices:
→ the threat of a financial crisis in the USA. Congress without a speaker, the budget has not been approved, the S&P-500 is near its 5-month low. Legendary investor Peter Schiff expresses the opinion that a crisis is inevitable due to the actions of the Fed.
→ Expectations that the SEC will approve a bitcoin ETF in the near future, and this will open bitcoin to institutional investors. According to JPMorgan, this will happen within a few months. Positive signals will come from BlackRock and VanEck, which have filed bids.
→ Refusal by the SEC to claim against Ripple Labs.
→ Geopolitical tensions in the Middle East. Bitcoin is gaining relevance as an asset that can become a safe haven for capital.

(https://i.imgur.com/AKBYxqj.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-bitcoin-breaks-psychological-level-of-30k/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 24, 2023, 11:58:27 AM
Cryptocurrency Market Capitalization Sets Year's High
(https://i.imgur.com/p60KhXr.jpg)

Amid the frenzy over expectations that the SEC will approve applications for spot bitcoin ETFs, the cryptocurrency market capitalization reached USD 1.25 trillion this morning, for the first time in 2023. Expectations have increased following reports that the US Securities and Exchange Commission will not appeal a court ruling that the rejection of Grayscale Investments' ETF application was improper.

It is important to understand that an ETF is a financial instrument that will allow a wide range of people to easily officially invest in bitcoin without opening an account on a crypto exchange, which can be associated with difficulties and dangers.

(https://i.imgur.com/bSIhuq0.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-cryptocurrency-market-capitalization-sets-years-high/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on October 30, 2023, 08:17:40 AM
Watch FXOpen's  23 - 27 October Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: THE YEN WEAKENS, NASDAQ ENTERS CORRECTION, GOLD STABILISES

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#fxopen #fxopenyoutube #fxopenuk #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 02, 2023, 12:34:08 PM
Bitcoin Updates Its Maximum for the Year
(https://i.imgur.com/Ts2Ra8Q.jpg)

The cryptocurrency market showed a correlation with the stock market, gaining bullish momentum amid softening rhetoric from the Federal Reserve.

The price of the main cryptocurrency reached USD 35,900 for the first time in 18 months.

Wherein:
→ the positivity is also due to expectations that the US Securities and Exchange Commission will approve a Bitcoin ETF. According to analysts at Bernstein (an asset management firm), this could happen by the first quarter of 2024.
→ according to the same analysts, the price of Bitcoin could reach USD 150k by 2025;
→ Jurrien Timmer, director of global macroeconomics at Fidelity, called bitcoin a commodity currency or exponential gold that aims to be a store of value and a hedge against monetary depreciation.

(https://i.imgur.com/b8wbhsU.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-bitcoin-updates-its-maximum-for-the-year/?utm_source=tpt_forum&utm_medium=post")

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 09, 2023, 01:32:22 PM
BTC/USD Analysis: New High of the Year
(https://i.imgur.com/MiCv3Db.jpg)

The bitcoin rate exceeded USD 36,500 per coin for the first time in 2023.

This is fueled by pending approval of Bitcoin ETF applications pending before the SEC. According to the latest information, SEC representatives are in contact with the Grayscale fund, one of those who submitted applications. This increased confidence that applications would be approved. Moreover:
→ applications can be approved all together and then several ETFs will start working simultaneously, making it possible that potentially billions of dollars will be directed to the purchase of bitcoins;
→ this can happen before January 10, 2024.

The creation of ETFs will open up new opportunities for a wide range of investors to easily invest in the main cryptocurrency, while reducing the risks associated with opening an account on a crypto exchange, hacked wallets, or sanctions from regulators.

The BTC/USD chart today shows that the price of bitcoin broke through the USD 36,000 level on an expanding candle, indicating the strength of demand.

How far can the bitcoin rate go up?

(https://i.imgur.com/1QEAzLY.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-analysis-new-high-of-the-year/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 10, 2023, 11:46:46 AM
ETH/USD Growing Rapidly on News from BlackRock
(https://i.imgur.com/joPBrTz.jpg)

As it became known, BlackRock has filed an application with the SEC for an ETF based on spot Ethereum. Information about the iShares Ethereum Trust appeared on the Nasdaq website.

If such an expression is acceptable, the price of the second cryptocurrency has gone in pursuit of bitcoin, which is rewriting the highs of the year amid expectations associated with the approval of applications for ETFs for spot bitcoin — approval from the SEC already seems inevitable.

In just 10 hours after the news was published, the price of ETH/USD increased by more than 10%. The excitement is fueled by speculation that other Wall Street giants may file bids after BlackRock.

The ETH/USD chart shows that:
→ the price of Ethereum came close to the year’s high at 2140, set in April;
→ RSI indicates that the market is extremely overbought, which means it is vulnerable to a pullback.

(https://i.imgur.com/zPxgLZH.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-eth-usd-growing-rapidly-on-news-from-blackrock/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 11, 2023, 02:03:33 PM
Watch FXOpen's  06 - 10 November Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: OIL FALLS, S&P500’s BEST WEEK, GOLD DROPS, EUR/JPY: NEW HIGH

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

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#fxopen #fxopenyoutube #fxopenuk #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 14, 2023, 11:01:22 AM
BTC/USD Analysis: JP Morgan Analysts Warn of a Possible Correction
(https://i.imgur.com/2yquUZK.jpg)

Last week, the BTC/USD rate rose to the level of USD 38k per coin on the excitement associated with the expected launch of a spot Bitcoin ETF.

However, as the week begins, bitcoin price performance shows signs that the hype appears to be waning:

→ the speed with which the price dropped from the upper boundary of the channel and the high of the year to the middle of the channel (about -USD 1,700 in a few hours) indicates the aggressiveness of sellers;
→ the price tried to resume its upward trend, but failed. This can be seen from the downward reversals from the level of 37,500
→ the fact that the slopes of trend lines (shown in black) become less sharp is also a sign of weakening bullish sentiment.

It turns out that after a pronounced surge last week, the price has already dropped below the median line of the channel, and the MACD remains in the red zone.

(https://i.imgur.com/Li9h7gj.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-analysis-jp-morgan-analysts-warn-of-a-possible-correction/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 17, 2023, 12:47:20 PM
BTC/USD Analysis: Bears Aggressively Defending 37,500 Level
(https://i.imgur.com/jQWtsAc.jpg)

The cryptocurrency market continues to be dominated by expectations for SEC approval of Bitcoin ETFs. A decision is expected by January 10. Although expectations alone do not seem to be enough at the moment to overcome the resistance level of 37,500, which became obvious this week.

The BTC/USD chart today shows that the bulls attacked the level 4 times.

At the same time, attempts 1-2-3 indicate a gradual weakening of the impulse.

Attempt number 4 had new fuel, as the growth rate was impressive. Moreover, the bulls even managed to overcome the level of 37,500. However, as the chart shows, not for long. The bears successfully coped with the attack and not only prevented the price from consolidating above 37,500, but also pushed it back to the lines from which the attack began.

Moreover, attempt number 4 brought an update to the maximum of the year, but the form in which it was made raises concerns. Because short-term exceeding top 1 is a bull trap.

(https://i.imgur.com/SEdjfGx.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-analysis-bears-aggressively-defending-37-500-level/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 18, 2023, 06:24:43 AM
Watch FXOpen's  13 - 17 November Weekly Market Wrap Video

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 24, 2023, 05:37:28 PM
Watch FXOpen's  20 - 24 November Weekly Market Wrap Video

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 27, 2023, 12:38:38 PM
Market Analysis: Results of Black Friday in Financial Markets
(https://i.imgur.com/drd2gsO.jpg)

As CNN reports, Black Friday brought single-day sales records in the United States. According to Mastercard SpendingPulse, offline sales increased by 1%, and online sales by 8.5%. According to Sensormatic Solutions, store traffic increased by 4.6% year on year. Shopify reported record sales growth of 22% year over year to $4 billion worldwide.

The activity of buyers indicates the stability of the US economy, which is reflected in the stock markets — the S&P 500 index is near the highs of the year. However, the beginning of the week may bring an unpleasant surprise: on Thursday, the publication of the values of the PME indicator, which is closely monitored by the Federal Reserve to assess inflation in the United States, will take place.

Meanwhile, Black Friday became a significant day in the cryptocurrency market —  the price of bitcoin reached a new high of the year, exceeding the level of 38k dollars per coin. Perhaps the generosity of buyers on Black Friday helped create a record for the year, but the bulls failed to maintain the achieved levels. The BTC/USD chart shows that:

→ exceeding the level of 38k dollars looks like a false breakout of the previous top;
→ a false breakout formed a bearish engulfing pattern;
→ according to online metrics, on Black Friday, short positions on crypto exchanges were liquidated in the amount of $15 to $20 million;
→ The MACD indicator shows a series of decreasing highs 1-2-3-4, which may indicate the depletion of demand forces, which is stimulated by the anticipation of the approval of the bitcoin ETF.

(https://i.imgur.com/4nIr76F.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-results-of-black-friday-in-financial-markets/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on November 30, 2023, 12:05:10 PM
BTC/USD Analysis: New High for the Year Shows Bulls Are Indecisive
(https://i.imgur.com/CTKf9Ka.jpg)

During November, the price of bitcoin increased by approximately 10% in anticipation of the launch of a bitcoin ETF. But the positive sentiment of crypto investors is seriously overshadowed by news regarding Binance:

→ Changpeng Zhao resigned as head of Binance.US, pleading guilty to money laundering charges. He also agreed to pay $50 million in a lawsuit from the US Department of Justice, and his company will have to pay $4.3 billion. This fine to Binance was one of the largest in the history of punishment of corporations. In addition, Zhao faces up to 10 years in prison. The judges banned him from leaving the United States until the proceedings are completed.

→ Cristiano Ronaldo was sued for $1 billion for advertising Binance. This was done by people who claim they suffered losses by buying unregistered securities that the sports star was promoting.

(https://i.imgur.com/7pdLVqv.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-analysis-new-high-for-the-year-shows-bulls-are-indecisive/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 02, 2023, 01:14:21 PM
Watch FXOpen's  27 November - 1 December Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: EUROPEAN CURRENCIES, US GDP NEWS, OPEC+, NATURAL GAS PRICES

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 04, 2023, 02:59:08 PM
Market Analysis: Bitcoin Surpasses $40,000 Per Coin
(https://i.imgur.com/b198yCp.jpg)

December begins extremely optimistically for the cryptocurrency market, resembling:
→ December 2020, when bitcoin grew by 46.9%;
→ December 2017, when bitcoin grew by 38.9%;
→ December 2016, when bitcoin grew by 30.8%.

If there are psychological patterns in the increase in demand on the eve of the holidays, then perhaps they come into force, since on the morning of December 4, the price of Bitcoin exceeded the psychological barrier of 40k and reached 41,700 per coin — for the first time since April 2022.

Fundamentally, demand is based on expectations of the approval of several Bitcoin ETFs. The fear and greed index reached a value of 74, indicating growing greed. Another driver is expectations of Fed rate cuts, which leads to more affordable loans and, accordingly, increased demand for risky assets.

(https://i.imgur.com/NTpjFz6.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-market-analysis-bitcoin-surpasses-40-000-per-coin-2/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 09, 2023, 02:37:24 AM
NIKKEI Analysis: Japanese Stock Market Outlook
(https://i.imgur.com/vrmLJwW.jpg)

In the first half of 2023, the Japanese stock market was dominated by bullish sentiment due to (still) negative interest rates — while the rest of the G7 countries raised their rates to combat inflation.

The NIKKEI-225 index grew by 30% in the first half of the year. But then the balance of supply and demand was achieved, judging by the daily chart, where a range was formed (shown in blue), framing the index’s fluctuations in the second half of the year. Judging by the change in the slope of the bullish trend lines, demand was sufficient to maintain the price at the lower limit of the range, but not enough to go beyond the upper limit.

The situation is fundamentally reversed. While interest rates in the US, Europe and elsewhere are thought to be near the top, there is growing talk in Japan that the central bank will begin raising them after years of being stuck in negative territory:
→ Bloomberg: The next meeting of the Bank of Japan will be held on December 19 – speculation is growing that the Bank will move away from negative interest rates as early as this month.
→ Reuters: 22 of 26 economists (85%) surveyed in November believe the Bank of Japan will abandon its negative interest rate policy by the end of next year.

The winding down of ultra-loose monetary policy could have a negative impact on the growth of Japanese companies - accordingly, the growing bearish sentiment is reflected in the index quote. Since the end of November, the NIKKEI 225 has dropped almost 5%.

(https://i.imgur.com/JG3aQBe.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-nikkei-analysis-japanese-stock-market-outlook/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 09, 2023, 02:39:37 AM
Watch FXOpen's  4 - 8 December Weekly Market Wrap Video

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 11, 2023, 02:15:13 PM
Sharp Change in BTC/USD Price: Causes and Consequences
(https://i.imgur.com/BF87gVa.jpg)

On Monday morning, the price of bitcoin fell sharply. As the chart shows, the BTC/USD rate fell below 42,000 on Monday during the Asian session. According to Coinglass, the decline resulted in about $400 million worth of positions being liquidated by about 100,000 traders on cryptocurrency exchanges. So far, the price has found support around the 41,200 level, where the lower border of the ascending channel lies (shown in blue).

What are the reasons for such a sharp decline? From a fundamental point of view, there are no triggers with the media associated with, for example, statements by officials. What then?

First of all, the idea comes with low liquidity in the financial markets at the beginning of Monday in the Asian session. A recent example is the gold market, when the price of the metal jumped at the opening of trading to $2,130, but then quickly fell to $2,060. By the way, we wrote on Tuesday that the bears may try to push the price of gold below the psychological level of $2,000. The scenario is still coming true.

(https://i.imgur.com/CPyVM2V.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-sharp-change-in-btc-usd-price-causes-and-consequences/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 26, 2023, 01:42:05 PM
Watch FXOpen's Market Year Wrap 2023 Video

Yearly Market Wrap With Gary Thomson: INDICES, OIL, TECH STOCKS, CURRENCIES, BANKS INFLATION

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 26, 2023, 01:43:54 PM
Solana Is the Fourth Largest Cryptocurrency by Capitalisation. But for How Long?
(https://i.imgur.com/d0eKaZO.jpg)

2023 turned out to be a good year for cryptocurrencies, especially given the depressing mood that reigned at the end of 2022.

From the beginning of 2023:

But what has been particularly impressive is the progress made by the Solana project. This is a decentralised blockchain platform, which is characterised by high speed and scalability — they are achieved through the use of a unique architecture based on the Proof-of-History (PoH) protocol. In 2023, Solana became the first blockchain platform to reach 50,000 transactions per second. And a number of large investment funds, such as Grayscale and CoinShares, have added SOL to their portfolios.

SOL is a token that is used to pay for transactions and services on the Solana platform. It can also be used for staking to help support the network. The SOL/USD rate in 2023 has increased by more than 1000%!

At the same time, SOL now ranks 4th in terms of capitalisation of cryptocurrencies — after BTC, ETH, and the USDT stablecoin. December was the month when the price of the SOL token exceeded the psychological level of USD 100 for the first time since April 2022 (the historical high reached in the fall of 2021 exceeds the USD 250 level for SOL).

But will the price be able to stay above USD 100?

(https://i.imgur.com/P3TOckf.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-solana-is-the-fourth-largest-cryptocurrency-by-capitalisation/?utm_source=tpt_forum&utm_medium=posts)

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 26, 2023, 01:45:08 PM
2023 In Review: A Look Back At The Highlights Of The Year
(https://i.imgur.com/fRcBWPF.jpg)

The year 2023 commenced after two years of economic uncertainty and heavy inflation across Europe and North America, home to leading financial markets, with major currencies such as the euro and the US dollar, and financial hubs including London, New York, Chicago, Frankfurt, and Toronto.

These continents, where major stock exchanges operate and the S&P 500, NASDAQ, and FTSE 100 indices represent the top stocks of the top listed companies in Britain and the US, witnessed a dynamic interplay of economic recovery, inflation challenges, and policy adjustments.

The European and North American economies had spent 2023 recovering from a sustained period of inflation and cost of living issues (Britain and mainland Europe), and in the US, yet more bank collapses and a close call with state insolvency as the US Government had to raise the debt ceiling to stop it defaulting on its existing commitments, highlighting the country's huge national debt.

Inflation did decline during 2023, but central bank policy on both sides of the Atlantic favoured continued increases in interest rates, despite the US inflation going down from 11% in mid-2022 to around 3.1% now, and the British inflation rate is 3.9% now whereas it was also in double figures during 2022. Now, we move on to looking at specific markets.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-2023-in-review-a-look-back-at-the-highlights-of-the-year/?utm_source=tpt_forum&utm_medium=posts)

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on December 28, 2023, 10:13:54 AM
ETH/USD Analysis: New Record of the Year
(https://i.imgur.com/eUal0aV.jpg)

Today, the price of Ethereum exceeded the level of 2,440 per token, thereby setting a new high for 2023. It is noteworthy that the price of Bitcoin did not support the bullish sentiment, continuing to fluctuate around the USD 43,000 level for the fifth day.

What is the reason for the growth of ETH/USD from a fundamental point of view? There is no obvious trigger in the media, so we can only make assumptions:

→ market participants considered ETH an undervalued asset against the backdrop of the growth of Bitcoin and Solana;

→ perhaps buyers assume that after the expected approval of applications for the BTC ETF, the ETH ETF story will be next?

→ Santa's rally and the positive sentiment associated with it.

From a technical point of view, the price of ETH/USD moved up beyond the balance period “B”, where the forces of supply and demand were balanced. The bullish momentum was maintained, with upward momentum above the 2,333 level attracting followers and forcing short sellers to take losses. According to on-chain analytical platforms, in just one hour, at the peak of growth, USD 14 million of bearish positions were liquidated on cryptocurrency exchanges—there was a short squeeze in the market to some extent.

What's next? Will the price be able to form a new balance period “C”, which will be above the period “B” (similar to the trend “A” → “B”)?

(https://i.imgur.com/M9pjddk.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-eth-usd-analysis-new-record-of-the-year/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 03, 2024, 11:20:45 AM
Bitcoin Price Starts the Year with Bullish Sentiment
(https://i.imgur.com/GSNnhvC.jpg)

The first Bitcoin block, also known as the genesis block, was mined on January 3, 2009 at 18:15:05 UTC. 15 years have passed and the value of Bitcoin is in the tens of thousands of US dollars.

In the first days of 2023, bitcoin was worth about $16,600 — and, as it turned out, this was the minimum. After all, then the BTC/USD rate went up and by the end of 2023 reached $44,000. The change was more than +150%!

On January 3, 2024, the price was already above $45,000, giving hope to the bulls that 2024 will be no less successful. If in the coming 2024 BTC/USD repeats the progress of last year, this will mean exceeding the psychological mark of USD 100,000 per coin!

What will influence the price of Bitcoin in the first half of the year?

→ Expected approval of applications for BTC ETF by the SEC regulator. On the one hand, approval will allow a wide range of people to simply invest in Bitcoin, which should increase demand. On the other hand, waiting for approval takes too long. And if it happens, it is possible that a price reduction may occur according to the “buy rumours, sell facts” principle.

→ Approximately, halving will occur in April. This will happen after the 210,000th block is mined. After the halving, miners' block rewards will be reduced from 6.25 BTC to 3.125 BTC. It is believed that this should reduce the supply of coins on the market —  accordingly, the price of BTC/USD may rise (and history suggests this).

→ Fed rate cut. Easing monetary policy can serve as a driver for the growth of investment in risky assets, which is Bitcoin.

(https://i.imgur.com/CddLlZ7.png)

The BTC/USD daily chart shows that:

→ the price of Bitcoin is within the ascending channel;

→ the price broke through the resistance level of $44,400 per coin.

In this case, a comparison with the recent breakdown of the level of 38,000 is appropriate. If the price acts in the same bullish manner, it may consolidate above 44,400, without even testing this former resistance level.

If the demand for Bitcoin does not exhaust itself, the price may reach the upper boundary of the channel and drift towards the psychological mark of $50k. A return below the $44,000 level will mean a big setback for the bulls and will give reason to consider bearish scenarios, up to a breakdown of the current channel.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-bitcoin-price-starts-the-year-with-bullish-sentiment/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 11, 2024, 12:16:52 PM
Finally! The SEC Approves all 11 Applications for Bitcoin ETFs
(https://i.imgur.com/iEGoGxr.jpg)

The following ETFs can start operating today:


Despite the regulatory approval of the first spot Bitcoin ETFs in US history, the head of the US Securities and Exchange Commission (SEC) Gary Gensler has not changed his critical attitude towards cryptocurrencies. Thus, the regulator sees signs of illegally issued securities in many cryptocurrencies that operate on the Proof-of-Stake (PoS) algorithm.

According to Gensler, the regulator was forced to approve the applications due to “changed circumstances.” This is likely a reference to the recent litigation where Grayscale filed a request with the Commission to transform its Bitcoin fund into a spot ETF. The judge then concluded that the regulator had wrongfully rejected the company's application.

Gensler also warned investors about the numerous risks associated with Bitcoin.

Meanwhile:
→ Funds whose applications have been approved are reducing fees one after another, trying to win the competition for investors.
→ Bank of England (BOE) Governor Andrew Bailey, speaking before the Treasury Committee of the United Kingdom Parliament, called Bitcoin ineffective.
→ Cryptocurrency exchange apps have become unavailable in India due to the introduction of stricter legislation governing cryptocurrencies.

(https://i.imgur.com/2MMn8OP.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-finally-the-sec-approves-all-11-applications-for-bitcoin-etfs/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 13, 2024, 06:45:34 AM
Watch FXOpen's  8 - 12 January Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: FTSE, NIKKEI, AUD/USD, BITCOIN ETFs

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


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Watch it now and stay updated with FXOpen. (https://youtu.be/20VzjEl0JNg)

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Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 15, 2024, 11:08:23 AM
BTC/USD price and the “Three Black Crows” pattern
(https://i.imgur.com/fZUj1Wc.jpg)

On January 11, the highly publicized Bitcoin ETF began trading after it was officially approved by the SEC. On this day, the price of Bitcoin exceeded USD 48,800, as shown by the chart. Bloomberg writes that new US spot funds achieved net inflows of USD 819 million in the first two days of trading.

However, from the high on January 11, a dizzying fall began, and already at the low on January 12, Bitcoin was worth less than USD 41,800. This dynamic may illustrate the “buy the rumors, sell the facts” strategy, which we wrote about on January 3 when predicting the price of Bitcoin in 2024.

News of the ETF's approval sent the ATR above 1,100 on the 4-hour chart, the last time it did so was in mid-June 2022. The market was overly active, and what is important is that three bearish candles (marked with an arrow) summed up this activity. They can be interpreted as the three black crows pattern.

According to statistics from Tim Bulkowski, this pattern works in 78% of cases and means a trend change from bullish to bearish. According to CandleScanner statistics for 20 years, collected on the S&P 500 index market, the pattern turned out to be false only in 18.6% of cases out of 543 occurrences.

Does this mean that the statistics will work on the Bitcoin price chart?

(https://i.imgur.com/PF5QiM7.jpg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-price-and-the-three-black-crows-pattern/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 19, 2024, 08:26:25 PM
Watch FXOpen's  15 - 19 January Weekly Market Wrap Video

Weekly Market Wrap with Gary Thomson: UK100 DROPS 1.5%, USD RISES, OPEC’S FORECASTS, MICROSOFT SURPASSES APPLE

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=iIz1cOIk0FI)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/RrVGEfF.jpg) (https://www.youtube.com/watch?v=iIz1cOIk0FI)

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenuk #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on January 23, 2024, 11:29:33 AM
The Price of Bitcoin Has Dropped Below 40,000: What's Next?
(https://i.imgur.com/cBf7OAf.jpg)

The value of the main cryptocurrency has fallen below the psychological mark for the first time since December 4th of last year. According to on-chain metrics services, the decline in the price of Bitcoin on cryptocurrency exchanges triggered the liquidation of buyer positions for more than 25 million dollars in just 2 hours.

This decline confirms the significance of the three black crows pattern (indicated by the arrow) and the principle of "buy the rumour, sell the fact" – as we discussed in the Bitcoin price analysis on January 15th.

What's next? Will the price continue to decrease?

JPM head Jamie Dimon, as well as legendary investor Peter Schiff, are pessimistic. In their opinion, Bitcoin is a speculative asset. Jamie Dimon explicitly advises staying away from bitcoins, while Peter Schiff, comparing Bitcoin to gold, prefers the precious metal.

On the other hand, the current decrease may indicate a correction within an upward trend. This perspective is held by financial expert and publicist Anthony Scaramucci.

(https://i.imgur.com/NxV4WjX.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-the-price-of-bitcoin-has-dropped-below-40-000-whats-next/?utm_source=tpt_forum&utm_medium=posts)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 09, 2024, 09:28:11 AM
Market Analysis: AUD/USD Struggles While NZD/USD Grinds Higher
(https://i.imgur.com/TrNNWvt.jpeg)

AUD/USD is declining below the 0.6540 support zone. NZD/USD is rising and could extend its increase above the 0.6130 resistance zone.

Important Takeaways for AUD USD and NZD USD Analysis Today


AUD/USD Technical Analysis
(https://i.imgur.com/QzXIV1w.jpeg)

On the hourly chart of AUD/USD at FXOpen, the pair struggled to stay above the 0.6600 pivot zone. The Aussie Dollar started a fresh decline below the 0.6550 and 0.6540 levels against the US Dollar.

The pair even settled below the 0.6510 level and the 50-hour simple moving average. Finally, it tested the 0.6480 support zone. The recent low was formed near 0.6480 and the pair is now consolidating losses near the 23.6% Fib retracement level of the downward move from the 0.6540 swing high to the 0.6480 low.

On the upside, the AUD/USD chart indicates that the pair is now facing resistance near a connecting bearish trend line at 0.6510. The trend line is near the 50% Fib retracement level of the downward move from the 0.6540 swing high to the 0.6480 low.

The first major resistance might be 0.6540. An upside break above the 0.6540 resistance might send the pair further higher. The next major resistance is near the 0.6610 level. Any more gains could clear the path for a move toward the 0.6660 resistance zone.

On the downside, initial support is near the 0.6480 zone. The next support could be the 0.6470 zone. If there is a downside break below the 0.6470 support, the pair could extend its decline toward 0.6420. Any more losses might signal a move toward 0.6380.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-aud-usd-struggles-while-nzd-usd-grinds-higher/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 09, 2024, 11:28:26 AM
USD/JPY Reaches 10-week High amid Statements by Head of Bank of Japan
(https://i.imgur.com/wHuEgqq.jpeg)

Bank of Japan Governor Kazuo Ueda said today that there is a high likelihood that accommodative monetary conditions will continue even after the bank ends its negative interest rate policy — an event that is expected as early as next month, according to Reuters.

On the other hand, the USD index has been strengthening since the beginning of 2024, indicating that market participants assume that the easing of the current tight Fed policy may last longer.

As a result, the price of USD/JPY rises again towards the psychological level of 150 yen per dollar.

The weekly USD/JPY chart shows that:
→ After an attempt at a bullish breakout of this level in the fall of 2022, a strong bearish impulse occurred (justified by the actions of the Bank of Japan to protect the yen), and the price dropped below the level of 130 yen per dollar in early 2023.
→ After an attempt at a bullish breakout in the fall of 2023, a less powerful bearish movement formed, the rate did not fall below 140 yen per dollar.

(https://i.imgur.com/PwRUsOZ.jpeg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-usd-jpy-reaches-10-week-high-amid-statements-by-head-of-bank-of-japan/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 09, 2024, 02:47:51 PM
Bitcoin Recovers to January 11 Prices When ETFs Were Approved
(https://i.imgur.com/h6GJcvk.jpeg)

Waiting for SEC regulatory approval of applications to create a Bitcoin ETF was an important driver of Bitcoin price growth at the end of 2023. However, when applications were actually approved on January 11, 2024 (here is what we wrote about it), there was a decline in cryptocurrency prices.

In particular, the price of Bitcoin decreased from a maximum of January 11 at USD 48,877 per coin, dropping below USD 40k in the twenties of January.

Fortunately for investors in the cryptocurrency market, the collapse did not occur, and today the price of Bitcoin exceeded USD 46k, thereby recovering to the levels of January 11.

This was facilitated by:
→ the Chinese New Year (celebration begins on February 10). As crypto media write, traditionally during this period there is an optimistic revival in the cryptocurrency market.
→ Interest in investing in risky assets in anticipation of the Fed lowering interest rates. Access to cryptocurrency investments has become easier with the approval of ETFs.

(https://i.imgur.com/A6aRHkv.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-bitcoin-recovers-to-january-11-prices-when-etfs-were-approved/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 10, 2024, 07:35:54 AM
Watch FXOpen's 05 - 09 February Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: S&P 500, CAD, GBP/USD, AMZN

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of -FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=YN7U8xOnZTA)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/sypK8GS.jpeg) (https://www.youtube.com/watch?v=YN7U8xOnZTA)

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenuk #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 12, 2024, 10:56:45 AM
Nikkei 225 Index Price Sets 34-year High
(https://i.imgur.com/JWuxPjs.png)

The price of the Nikkei 225 index is fixed above the level of 37,000 points. The last time this happened was after the index reached its all-time high in 1989.

The bullish behavior of the Japanese stock market has the following reasons:

→ Strong corporate reporting. In particular, SoftBank shares rose 11% due to increased sales of its subsidiary Arm, which develops chips for the development of artificial intelligence.
→ Dovish view of the Bank of Japan's monetary policy. Thus, Bank of Japan Vice Governor Shinichi Uchida said that the central bank will not aggressively tighten its monetary policy even if it ultimately decides to end negative interest rates.

(https://i.imgur.com/l7M7R1b.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-nikkei-225-index-price-sets-34-year-high/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 12, 2024, 01:52:10 PM
Markets Await Publication of Key Macroeconomic Statistics from the US and UK
(https://i.imgur.com/ZxEe7VD.jpeg)

Tomorrow, January inflation data in the United States will be presented: the consumer price index in monthly terms is projected to slow from 0.3% to 0.2%, and in annual terms from 3.4% to 3.0%, the upper limit of the target range of the US Federal Reserve. The indicator excluding food and energy prices may be adjusted from 3.9% to 3.8%. With the opening of the American session, the focus will shift to January inflation data in the United States. Analysts do not expect significant fluctuations in the indicator, but still hope that the publication will become a new impetus for the early easing of monetary policy by the US Federal Reserve. Thus, experts expect that the consumer price index will decrease from 3.4% to 3.0% on an annual basis and from 0.3% to 0.2% on a monthly basis. Markets have almost completely revised expectations for the regulator's March meeting and are now inclined to believe that the interest rate will be adjusted by 25 basis points in May.

EUR/USD
(https://i.imgur.com/ifdVna3.png)

The EUR/USD pair is showing moderate growth, developing upward dynamics since February 6. The euro is testing the 1.0790 mark for an upward breakout, updating local highs from February 2. Immediate resistance can be seen at 1.0805, an upward breakout could trigger an increase to 1.0897. On the downside, immediate support is seen at 1.0767, a break below could take the pair towards 1.0750.

At the same time, activity on the market remains quite restrained, and trading participants are in no hurry to open new positions ahead of the publication of macroeconomic statistics. On Wednesday, investors will evaluate the final data on eurozone GDP for the fourth quarter of 2023, as well as December statistics on industrial production. Forecasts suggest the region's economy will gain another 0.1% annual growth, while industrial output could fall 4.1% from -6.8% in the previous month. Last Friday, the eurozone published data on inflation in Germany: the consumer price index in January was 0.2%, the same as a month earlier, which coincided with market expectations, and in annual terms the figure remained at 2.9%.

Technical analysis of EUR/USD shows that a new upward channel has formed based on last week’s highs. Now the price has moved away from the upper limit and may continue to decline.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-markets-await-publication-of-key-macroeconomic-statistics-from-the-us-and-uk/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 12, 2024, 05:01:42 PM
Volatility Leads To Pessimism Around UK's FTSE 100 Index
(https://i.imgur.com/IRztjDq.jpeg)

During the past few weeks, the FTSE 100 index, which consists of the stocks of the 100 most prestigious and well-established large corporations listed on the London Stock Exchange, has been somewhat volatile.

The foray into the new year so far has been a far cry from the same period last year, when euphoria among investors and analysts alike abounded during February 2023 due to London's long-established index having surpassed the 8,000 point mark for the first time in history.

Here we are now in February 2024, and things are somewhat different.

As trading begins for the new week ahead, there is a pessimistic tone to many analyses relating to the performance of the FTSE 100, especially compared to other indices comprising stocks listed on other globally recognised premium venues.

The overall performance of the FTSE 100 index since the beginning of 2024 has included a series of upward and downward movements; however, as this week began, the index was valued at 7,583 points as depicted by the bottom of the candlestick at 9.00 am UK time, according to the FXOpen chart, which is considerably lower than a top value of 7,711 on February 7.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-volatility-leads-to-pessimism-around-uks-ftse-100-index/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 13, 2024, 10:35:57 AM
Bitcoin Price Exceeds Psychological Level of $50k
(https://i.imgur.com/bd6vifW.jpeg)

The last time the BTC price was above $50,000 was in December 2021, making its way to the low around $15,500 reached in November 2022.

Reaching the $50,000 level was facilitated by:
→ waiting for the halving, after which the price of Bitcoin is believed to receive a bullish impulse due to a reduction in supply;
→ the effect of the approval of a Bitcoin ETF;
→ expectation of easing of the Fed's monetary policy, which increases interest in risky assets. By the way, the Nasdaq-100 technology stock index set a historical high yesterday, breaking the level of 18,000 points.

At the same time, the BTC/USD chart shows that:
→ the price of Bitcoin moves within an ascending channel (shown in blue), which dates back to last fall;
→ from the point of view of technical analysis, with this channel construction, the price of Bitcoin still has some room to rise to its upper limit.

(https://i.imgur.com/MAbckgd.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-bitcoin-price-exceeds-psychological-level-of-50k/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 13, 2024, 11:17:02 AM
Major Currency Pairs in Consolidation Phase ahead of US Inflation Data Release
(https://i.imgur.com/1434hgN.jpeg)

In mid-February, the volatility of major currency pairs slowed down somewhat. Leading Central Banks have taken a pause in changing monetary policy, and the incoming fundamental data is quite weak for the formation of new trends. As a result, the pound/US dollar pair was stuck between 1.2640-1.2520, the euro/US dollar pair found support just above 1.0700, and greenback buyers in the US dollar/yen pair managed to strengthen above 149. Nevertheless, the current flat movement may end this week. A lot of important fundamental data releases are expected in the coming trading sessions, which could lead to both the continuation of current trends and the formation of new trends.

GBP/USD

As the GBP/USD chart shows, the pound's decline at the beginning of this month, driven by a strong US employment report, slowed to 1.2520. On the weekly time frame, the price found support at the intertwined alligator lines. If the 1.2600-1.2520 range confirms support status, the price could retest the important 1.2800-1.2700 range. In case of a downward breakdown of the 1.2500 level, the pair may resume its downward movement in the direction of 1.2400-1.2200.

Today at 10:00 GMT+3, we are waiting for data on average wages in the UK for December last year, and at this time the change in employment and the unemployment rate for the same period will be published.

(https://i.imgur.com/ANcA1YJ.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-major-currency-pairs-in-consolidation-phase-ahead-of-us-inflation-data-release/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 13, 2024, 02:23:23 PM
S&P500 has been on a roll, but will it continue?
(https://i.imgur.com/4UU83mq.jpeg)

Over the past few months, the S&P 500 index has been growing in value in an almost linear fashion, taking the prestigious North American index, which tracks the performance of the largest companies whose stock is listed on exchanges in the United States, from a low point in October to its extremely high position of today.

On October 27 last year, the S&P 500 index languished at 4,117.9 points according to FXOpen charts, representing a dip in value accumulating as summer gave way to autumn last year.

Immediately after this took place, a rally began, which lasted until now, taking the S&P 500 index from that low point at the end of October to 5,027.8 at the close of the US trading session yesterday.

That is a remarkable figure indeed and is a high point that occurred following the market euphoria that took place at the end of last week when the S&P 500 index passed the 5,000-point mark, making it a record high for the prestigious index.

Overall, the S&P 500 has been growing in value tremendously when looked at over a longer period of time. According to some sources in mainstream media, the S&P 500 index increased by a remarkable 24% during 2023, despite its dip during the beginning of the first quarter.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-s-p500-has-been-on-a-roll-but-will-it-continue/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 14, 2024, 11:25:36 AM
Market Analysis: Gold Price Takes Hit While Crude Oil Price Extends Rally
(https://i.imgur.com/T4TkK7v.jpeg)

Gold price is declining below the $2,010 support zone. Crude oil price is rising and it could climb further higher toward the $80 resistance.

Important Takeaways for Gold and Oil Prices Analysis Today


Gold Price Technical Analysis
(https://i.imgur.com/thv3AyF.jpeg)

On the hourly chart of Gold at FXOpen, the price was able to climb above the $2,020 resistance. The price even broke the $2,030 level before the bears appeared.

The price traded as high as $2,032 before there was a fresh decline, as mentioned in the previous analysis. There was a move below the $2,020 pivot zone. The price settled below the 50-hour simple moving average and RSI dipped below 30. Finally, it tested the $1,988 zone.

The price is now consolidating losses near the $1,990 level. Immediate resistance on the upside is near the $1,998 level or the 23.6% Fib retracement level of the downward move from the $2,031 swing high to the $1,988 low.

The next major resistance is near the 50-hour simple moving average and the 50% Fib retracement level of the downward move from the $2,031 swing high to the $1,988 low at $2,010.

An upside break above the $2,010 resistance could send Gold price toward $2,020. Any more gains may perhaps set the pace for an increase toward the $2,032 level. If there is no recovery wave, the price could continue to move down.

Initial support on the downside is near the $1,988 level. The first major support is $1,980. If there is a downside break below the $1,980 support, the price might decline further. In the stated case, the price might drop toward the $1,962 support.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-gold-price-takes-hit-while-crude-oil-price-extends-rally/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 14, 2024, 11:27:37 AM
News about US Inflation Shake Markets
(https://i.imgur.com/bTdtSOw.jpeg)

According to data published yesterday:
→ Core CPI: actual = 0.4%, expected = 0.3%, past values = 0.3%
→ CPI: actual = 0.3%, expected = 0.2%, past values = 0.3%

Thus, the statistics dealt a blow to the hopes of market participants that inflation in the United States is fading and the Fed will lower interest rates. The figures suggest that tight monetary policy will remain tight for longer.

The market reaction was a sharp rise in the price of the US dollar - accordingly, many exchange assets denominated in USD fell in price:
→ the EUR/USD rate fell by approximately 0.5%, setting a minimum for the year;
→ the price of E-mini futures for the S&P-500 index decreased by approximately 1.5%;
→ the price of E-mini futures for the Nasdaq-100 index decreased by approximately 2.0%;
→ the price of gold XAU/USD decreased by approximately 1.8%;
→ the price of bitcoins BTC/USD decreased by more than 3%, but this morning the cryptocurrencies have already managed to recover, thus winning back yesterday’s dump.

Also resistant to news about inflation in the United States was the price of oil XBR/USD, which is rising against the backdrop of a tense geopolitical situation.

(https://i.imgur.com/2qkq37c.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-news-about-us-inflation-shake-markets/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 14, 2024, 11:29:53 AM
GBP/USD Price Declining after Encouraging UK Inflation Data Release
(https://i.imgur.com/NqD3EQx.jpeg)

After yesterday's disappointing US inflation data, market participants were wary of UK inflation data. But they turned out to be more favorable.

→ Core CPI: actual = 5.1%, expected = 5.2%, past values = 5.1%
→ CPI: actual = 4.0%, expected = 4.1%, past values = 4.0%

Although in absolute comparison the inflation rate in the UK is significantly higher than in the USA, it is encouraging that over the month it shows a downward trend.

This eases pressure on the Bank of England in its tight monetary policy, and therefore the British pound fell in value against other currencies. In particular, the decline against the USD that began yesterday continued. Since yesterday's high, the price of GBP/USD has already decreased by approximately 1%.

The GBP/USD chart shows that:
→ the bears have broken the upward trajectory indicated by the blue lines;
→ the price develops within the descending channel (shown in red);
→ the price dropped below the level of 1.25730, which served as support since February 8.

(https://i.imgur.com/TVrvyJE.jpeg)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-gbp-usd-price-declining-after-encouraging-uk-inflation-data-release/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 14, 2024, 02:16:57 PM
EURGBP continues to be suppressed during February. Will it rise again?
(https://i.imgur.com/okZYgeU.jpeg)

The first few weeks of 2024 have been laden with discussion, analysis and speculation regarding the forthcoming position of the US economy, largely due to the United States authorities having been the first to speak publicly about any monetary policy changes for the year ahead, as well as a considerable number of perspectives having been aired in the public domain regarding the US Federal Reserve Bank being the first central bank responsible for major currency to lower interest rates - something which actually did not happen.

While the expected announcement of planned reductions in interest rates did not materialise, there has been a lot of comparison between the US economy, and in particular, the US Dollar and Europe's majors, the British Pound and the Euro.

What about the monetary situation and economic outlook on the European side of the Atlantic? Both the European Central Bank and the Bank of England have followed similar, highly conservative monetary policies to that of the Federal Reserve over the past two years, and therefore, it would have been likely that perhaps equal expectations of reductions of interest would ensue if the Federal Reserve had actually proceeded down the route that many analysts expected.

Now, with the US rates remaining the same, could it be that the European and British central bankers will follow the same path? Judging by the result of the European Central Bank policy meeting, which took place on January 25, at which it was decided that rates would remain unchanged, this appears to be the case so far.

Looking at the performance of the EURGBP pair makes for interesting research, given that this chart pattern shows the sentiment within the European Union member states and Britain, all regions where major currencies are the sovereign tender, but without any comparison to the United States.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-eurgbp-continues-to-be-suppressed-during-february-will-it-rise-again/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 15, 2024, 10:08:46 AM
AUD/USD Price Reaction to Labour Market News Provides Important Information for Analysis
(https://i.imgur.com/ncnax1q.jpeg)

Australia's unemployment rate rose to a two-year high of 4.1% in January, while employment was little changed although analysts had expected around 25,000 new jobs, data released this morning showed.

It is believed that weak labour market data should prompt central bank officials to ease monetary policy, which is currently aimed at fighting inflation. According to Trading Economics, the Reserve Bank of Australia is expected to cut interest rates by about 40 basis points this year.

The first reaction to the news was the weakening of the Australian dollar (counting on the easing of the Central Bank's policy), but by the opening of the European session, the price of AUD/USD had recovered a significant part of the decline, which provides important food for thought.

(https://i.imgur.com/BbuwGwx.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-aud-usd-price-reaction-to-labour-market-news-provides-important-information-for-analysis/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 15, 2024, 11:33:31 AM
Ethereum Price Exceeds $2,800
(https://i.imgur.com/ayeS3WH.jpeg)

The last time the ETH/USD price was at this level was in May 2022, which was the start of a massive drop of more than 65% in 1.5 months.

However, now the ETH/USD market is dominated by bullish sentiment, for the following reasons:

→ deployment of the Dencun update on the Ethereum network this month, which will open up new opportunities for users and developers;
→ expectations that this year, following the approval of Bitcoin ETFs, applications for the launch of ETFs on Ethereum will be approved;
→ waiting for a traditional bull market after halving in the Bitcoin network.

(https://i.imgur.com/4CPLNIk.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-ethereum-price-exceeds-2-800/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 15, 2024, 02:24:32 PM
The US Currency Correcting after a Sharp Rise
(https://i.imgur.com/cnFKZJW.jpeg)

An unexpected rise in the US consumer price index contributed to the resumption of the upward trend in the US dollar. Thus, experts predicted a monthly growth of 0.2% and an annual increase of 2.9%, in reality the monthly figure increased by 0.3%, and on an annualized basis this is 3.1%. Such data could not but please greenback buyers. After all, a change in the vector of monetary policy given the current indicators and the existing situation on the labour market in the United States is hardly possible in the near future.

USD/JPY

The rise in inflation in the US contributed to the return of the USD/JPY pair above 150.00. The price on the USD/JPY chart set a new yearly high at 150.80, after which it entered a consolidation phase between 150.80 and 150.20. If the upper limit of the specified range is broken, the price may resume growth in the direction of last year’s highs near 152.00. A move below 150.00 may contribute to the start of a larger downward correction in the direction of 148.00-146.00.

Today at 16:30 GMT+3, data on weekly applications for unemployment benefits in the United States will be released. Also at the same time, the core US retail sales index for January will be published, as well as the manufacturing activity index from the Philadelphia Fed for February.

(https://i.imgur.com/XTh4iDD.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-the-us-currency-correcting-after-a-sharp-rise/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 16, 2024, 08:35:38 AM
Market Analysis: GBP/USD Attempts Recovery While EUR/GBP Gains Strength
(https://i.imgur.com/eY5Ek2e.jpeg)

GBP/USD is attempting a fresh increase from the 1.2535 zone. EUR/GBP is gaining pace and might extend its rally above the 0.8570 zone.

Important Takeaways for GBP/USD and EUR/GBP Analysis Today


GBP/USD Technical Analysis
(https://i.imgur.com/Qgxs7at.png)

On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2690 zone. The British Pound traded below the 1.2600 zone against the US Dollar.

A low was formed near 1.2535 and the pair is now attempting a recovery wave. There was a break above the 23.6% Fib retracement level of the downward move from the 1.2690 swing high to the 1.2535 low. The pair settled above the 50-hour simple moving average and 1.2570.

On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2600 or the 50% Fib retracement level of the downward move from the 1.2690 swing high to the 1.2535 low.

The next major resistance is near the 1.2650 level. If the RSI moves above 60 and the pair climbs above 1.2650, there could be another rally. In the stated case, the pair could rise toward the 1.2720 level or even 1.2750.

On the downside, there is a major support forming near 1.2570 and a key rising channel. If there is a downside break below the 1.2570 support, the pair could accelerate lower. The next major support is near the 1.2535 zone, below which the pair could test 1.2500. Any more losses could lead the pair toward the 1.2450 support.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-gbp-usd-attempts-recovery-while-eur-gbp-gains-strength/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 16, 2024, 10:24:33 AM
Gold Price Recovers from Year Lows
(https://i.imgur.com/lMFG5Wa.jpeg)

On Wednesday, the gold price XAU/USD set a year low due to news about inflation in the US, which “does not want” to decline to target levels.

As a result, market participants are revising their estimates regarding the price of gold with the prospect that the Fed's tight policy may last for a longer time, as well as taking into account yesterday's news:

→ Retail Core Sales in the US fell by 0.6%, although an increase of +0.2% was expected, a month ago = +0.4%.
→ the number of unemployment applications for the week remains relatively stable: actual = 212k, a week ago = 218k, a month ago = 202k.

(https://i.imgur.com/mnrPwdb.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-gold-price-recovers-from-year-lows/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 16, 2024, 11:30:58 AM
TSLA Share Price Rises Sharply amid News of Musk's Increased Stake in the Company
(https://i.imgur.com/ngPn30I.jpeg)

According to media reports, Elon Musk has increased his stake in Tesla by more than one and a half times — previously, the billionaire owned approximately 13% of the shares, now he owns 20.5% of Tesla. And earlier it was reported that Musk wants to increase his stake in Tesla to at least 25%.

At the same time, the TSLA share price rose sharply in yesterday's trading by more than 6%, while the S&P 500 stock market index increased by “only” +0.6%.

The TSLA stock chart today shows that:
→ the price has overcome the psychological mark of USD 200 per share;
→ the price has overcome the resistance level of USD 195 per share;
→ a bullish reversal pattern inverted head-and-shoulders has formed on the chart.

(https://i.imgur.com/oLcCUcG.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-tsla-share-price-rises-sharply-amid-news-of-musks-increased-stake-in-the-company/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 16, 2024, 05:30:41 PM
Watch FXOpen's 12 - 16 February Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: US INFLATION, GBP/USD, GOLD, BITCOIN

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights..


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=7CvZ5v8VlB4)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/4Y5rb0N.jpeg) (https://www.youtube.com/watch?v=7CvZ5v8VlB4)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenuk #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 19, 2024, 10:18:19 AM
Is the UK really in a recession? Perhaps 2024 data will be different
(https://i.imgur.com/7ej5CoO.jpeg)

It's Monday morning, and a deluge of doom and gloom relating to a recession having begun in the United Kingdom is abound.

Many mainstream news channels, along with analyses coming from a number of financial markets commentators, are outlining the potential contraction of the British economy should the central bank monetary policy remain hardline regarding interest rates.

There is a school of thought which warns investors that if the Bank of England does not decide to reduce interest rates, the British economy would perhaps become less competitive, and language such as causing a worsening of an existing recession could take place.

This is a very intriguing view, however, because the British Pound has been performing against other major currencies in a pattern that would suggest anything but a recession is even existent, let alone in full swing as is being touted by many reports.

During the course of this year so far, the British Pound has been gaining value significantly against the Euro, with the EURGBP pair having hit 0.850 at the bottom of the market on February 14, according to FXOpen charts, a far cry from its 0.869 value on January 1.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-is-the-uk-really-in-a-recession-perhaps-2024-data-will-be-different/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 19, 2024, 11:16:19 AM
GBP/JPY: Price Corrects from 8.5 Year High
(https://i.imgur.com/qy81L5Y.jpeg)

According to CNN, the economies of the UK and Japan entered a technical recession last week as data showed a second consecutive quarterly decline in gross domestic product. And if in the UK the economic downturn can be associated with high inflation and the strict policies of the Bank of England, then in Japan the reason may be the population decline (which has been going on for 14 years in a row).

At the same time, the GBP/JPY chart shows that last week the rate exceeded 190 yen per pound for the first time since August 2015.

However:
→ the price is at the upper border of the ascending channel (shown in blue);
→ at the beginning of this week, the price of GBP/JPY is below the 190 yen level – and a false bullish breakout of the psychological level should be regarded as a bearish sign;
→ the MACD indicator indicates that demand forces are fading.

(https://i.imgur.com/up5FyCV.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-gbp-jpy-price-corrects-from-8-5-year-high/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 19, 2024, 01:31:38 PM
Dollar Holds Steady after Producer Price Data Release
(https://i.imgur.com/6GrVzan.jpeg)

Market activity remains quite low at the beginning of the week, as American trading floors are closed to celebrate Presidents' Day. At the same time, investors continue to evaluate the data on manufacturing inflation published last Friday. Thus, the producer price index increased by 0.3% on a monthly basis and by 0.9% on an annual basis, which turned out to be higher than the predicted 0.1% and 0.6% and the December values of −0.1% and 1.0 %, respectively. In addition, trading participants paid attention to the publication of the consumer confidence index from the University of Michigan, a leading indicator that predicts consumer spending: in February it increased from 79.0 points to 79.6 points, slightly lower than the estimated 80.0 points.

EUR/USD
(https://i.imgur.com/WxiWdru.jpeg)

Today, the European currency is holding near the 1.0780 mark against the backdrop of weak investor activity, while market participants evaluate Friday's publications from Europe and the United States. Immediate resistance can be seen at 1.0790, a break higher could trigger a rise towards 1.0815. On the downside, immediate support is seen at 1.0732, a break below could take the pair towards 1.0695.

According to French statistics, the consumer price index, calculated according to EU standards, showed a decrease of 0.2% month on month, and an increase of 3.4% in annual terms. However, prices excluding tobacco products fell 0.3% month-on-month after rising 0.1%.

Technical analysis of EUR/USD shows that a new ascending channel has formed at the highs of two days of last week. Now the price is in the middle of the channel and may continue to rise.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-dollar-holds-steady-after-producer-price-data-release/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 20, 2024, 11:07:48 AM
Will investors focus on commodities in the advent of tomorrow's FOMC Minutes?
(https://i.imgur.com/hN1CIPg.jpeg)

Just over a day remains before the Federal Open Market Committee (FOMC) in the United States is set to release the minutes from its policy meeting, which was held at the end of January.

Ordinarily, announcements such as this are considered to be very important events in the global economic calendar, especially given that monetary policy, which the FOMC is responsible for administering, has been a very significant feature during these prolonged times of high-interest rates and stringent rulings by central banks across Western markets which have continued despite the high levels of inflation which ran into double figures being long since a thing of the past.

Perhaps the forthcoming publication of the minutes from the FOMC meeting, which took place on the final days of January, will not reveal any particular new matters of interest, largely because it is already widely understood that the US authorities will not be reducing interest rates in the foreseeable future, contrary to the understanding of many analysts and investors at the beginning of this year.

Given that Federal Reserve chairman Jerome Powell underscored the decision in a message at the beginning of February by saying that the Federal Reserve will not cut rates until it is certain that inflation is nearing the 2% target, it appears that any such minutes from a more recent meeting are not likely to affect the market that much.

In times during which the market expects a favourable approach by central bankers which will accelerate the economy, such as rate cuts which were anticipated for March and June this year, which do not materialise, it is often the case that attention turns to commodities.

Over the past few days, spot gold has been increasing in value.

On February 13, spot gold was at its lowest value this year, trading at $1,990.69 per troy ounce at the bottom end of the candlestick, according to FXOpen pricing. This low point reversed, and spot gold has made a remarkable return over the past week, entering the market this morning across European time zones at just over $2,021 per troy ounce.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-will-investors-focus-on-commodities-in-the-advent-of-tomorrows-fomc-minutes/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 21, 2024, 09:56:34 AM
Market Analysis: EUR/USD Starts Increase While USD/JPY Dips
(https://i.imgur.com/g3NUj7f.jpeg)

EUR/USD gained bullish momentum above the 1.0800 resistance. USD/JPY is declining and showing bearish signs below the 150.40 level.

Important Takeaways for EUR/USD and USD/JPY Analysis Today


EUR/USD Technical Analysis
(https://i.imgur.com/cKKoyaQ.jpeg)

On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase above the 1.0745 zone. The Euro climbed above the 1.0800 resistance zone against the US Dollar.

The pair even settled above the 1.0800 resistance and the 50-hour simple moving average. Finally, it tested the 1.0840 resistance. A high is formed near 1.0838 and the pair is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the 1.0761 swing low to the 1.0838 high.

Immediate support is near the 1.0800 level. The next major support is at 1.0790. There is also a key bullish trend line forming with support near 1.0790 and the 50-hour simple moving average. It coincides with the 61.8% Fib retracement level of the upward move from the 1.0761 swing low to the 1.0838 high.

If there is a downside break below 1.0790, the pair could drop toward the 1.0745 support. The main support on the EUR/USD chart is near 1.0695, below which the pair could start a major decline.

On the upside, the pair is now facing resistance near 1.0840. The next major resistance is near the 1.0885 level. An upside break above 1.0885 could set the pace for another increase. In the stated case, the pair might rise toward 1.0950.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-eur-usd-starts-increase-while-usd-jpy-dips/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 21, 2024, 12:03:58 PM
NASDAQ Price Declining Ahead of NVDA Report
(https://i.imgur.com/hDKM45l.jpeg)

E-mini NASDAQ 100 futures fell below the psychological 17,500 level yesterday after trading above 18,000 on Friday.

The reason for the decline may be the fears of market participants ahead of the news release:
→ today after the close of the main trading session, Nvidia, the 5th largest company by capitalization, will publish its report;
→ today at 22:00 GMT+3, data from the Federal Reserve will be published, which will provide important information about the prospects for lowering the interest rate.

However, for now the decline looks like a correction.

The NASDAQ 100 chart shows that:
→ the price is within an uptrend (shown by a blue channel);
→ the level of 18000 acted as psychological resistance, as the price turned down after a small puncture;
→ the price fixes below the local ascending channel (shown by purple lines).

For now, the support level at 17,500 is keeping the price from falling further, but if the news is disappointing, the price may drop to the lower border of the channel — it is even possible that the bears will attempt a breakout.

(https://i.imgur.com/8va2ZEK.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-nasdaq-price-declining-ahead-of-nvda-report/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 21, 2024, 12:05:49 PM
S&P 500 Inches Down After Long Rally as FOMC Minutes Approach
(https://i.imgur.com/ibQtAdQ.jpeg)

Aside from the performance of a national currency, a popular yardstick by which to gauge anticipation or reaction to an economic event or announcement is the market sentiment surrounding the top listed stocks on premier exchanges.

Today, as market participants around the world await the release of the minutes from the FOMC meeting that took place at the end of January, the S&P 500 index will begin trading slightly lower, an interesting movement considering that for the past three months, this premier index which includes the most prestigious and highly capitalised publicly listed companies listed on US exchanges, has been rallying.

Since the end of October, only a few minor dips have taken place. However, the tailing off which took place during the New York trading session yesterday places the S&P 500 under the 5,000 point mark when the market opens in New York today.

On February 19, the S&P 500 finished the trading day (Eastern Standard Time) at 5,008.7, according to FXOpen charts and will begin the trading session today at 4,973.6, which is its closing price yesterday.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-s-p-500-inches-down-after-long-rally-as-fomc-minutes-approach/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 21, 2024, 12:07:06 PM
Ethereum Price Falls after Exceeding $3,000
(https://i.imgur.com/UWH4mgN.jpeg)

We previously wrote about the reasons for the positive sentiment in the ETH/USD market.

Optimism was added by a post on X (Twitter) by Vitalik Buterin about the so-called Werkle trees. This technology, which should (according to the information in the roadmap) be introduced in the future, it includes the advantages of:
→ reduced requirements for validators;
→ faster network synchronization, and others.

The ETH/USD chart shows that:
→ ETH price is within a larger uptrend (shown in orange);
→ the price is within the February bullish trend (shown by blue lines);
→ the market is in an overbought state, judging by the bearish divergence on the MACD indicator.

(https://i.imgur.com/90wBGtY.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-ethereum-price-falls-after-exceeding-3-000/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 22, 2024, 09:52:59 AM
NVDA Share Price Soars 11% after Report
(https://i.imgur.com/DLRE5FI.jpeg)

The signs of concern we wrote about yesterday have largely subsided. After three days of declines, the price of E-mini Nasdaq 100 futures bounced off the lower boundary of the channel (see yesterday's chart) and rose, led by NVDA stock.

Nvidia's quarterly report exceeded expectations:
→ earnings per share: actual = USD 5.16, expected = USD 4.59;
→ gross revenue: actual = USD 22.10 billion, expected = USD 20.39 billion.

According to the head of the company:
→ Accelerated computing and generative AI have reached a tipping point.
→ Demand for computing is growing worldwide among companies, industries and governments.
→ The coming year will bring major new product cycles with exceptional innovations that will help propel the industry forward.

In post-market trading, NVDA's price rose 11% to over USD 740 per share. Thus, the price increase for NVDA since the beginning of 2024 is about 50%.

(https://i.imgur.com/FuhWUCs.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-nvda-share-price-soars-11-after-report/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 22, 2024, 11:59:36 AM
EUR/USD Analysis: Euro Showing Signs of Strength
(https://i.imgur.com/FgwjAYA.jpeg)

Today news was published about the values of PMI indices for European economies. Data from France was encouraging:
→ French Flash Manufacturing PMI: actual = 46.8, expected = 43.5, a month ago = 43.1;
→ French Flash Services PMI: actual = 48.0, expected = 45.7, a month ago = 45.4.

Data from Germany were less optimistic, so the euro's rise was interrupted, but in the end the euro still rose in price on this news relative to other currencies.

For example, the price of EUR/JPY broke through the resistance level of 163 yen per euro — the euro rose to this level for the first time since November last year.

(https://i.imgur.com/n47g6Rn.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-eur-usd-analysis-euro-showing-signs-of-strength/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 22, 2024, 04:19:47 PM
Commodity Currencies Strengthen after the FOMC Minutes Publication
(https://i.imgur.com/uB0VKkG.jpeg)

The fundamental data of recent trading sessions contributed to a slight strengthening of commodity and European currencies. Thus, the AUD/USD pair, after forming a bullish engulfing combination, managed to confidently gain a foothold above 0.6500. The pound/US dollar currency pair retested the support at 1.2540 and went above 1.2600, and greenback sellers in the US dollar/loonie pair are trying to break the support at 1.3500.

GBP/USD
(https://i.imgur.com/9OTaJZw.png)

The price of the pound on the GBP/USD chart has been trading for the third week in a rather narrow range of 1.2680-1.2540. Apparently, to enter new positions, investors need a more important foundation than the publication of the FOMC protocols. The head of the Bank of England, Andrew Bailey, whose speech took place on Tuesday at 13:15 GMT+3, also failed to inspire market participants to make new entries.

Today at 12:30 GMT+3, we are waiting for the publication of data on the business activity index in the UK services sector for February. At 17:45 GMT+3, the business activity index (PMI) in the US services sector for the same period will be released. Also at 18:00 GMT+3, data on sales on the secondary housing market for January will be published, and at the very beginning of the American session, weekly figures on the number of applications for unemployment benefits will be released.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-commodity-currencies-strengthen-after-the-fomc-minutes-publication/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 23, 2024, 09:48:01 AM
Market Analysis: AUD/USD and NZD/USD Grind Higher Steadily
(https://i.imgur.com/JIzGNVH.jpeg)

AUD/USD is moving higher and might rally if it clears 0.6600. NZD/USD is also rising and could extend its increase above the 0.6220 resistance zone.

Important Takeaways for AUD/USD and NZD/USD Analysis Today


AUD/USD Technical Analysis
(https://i.imgur.com/9oY03vk.png)

On the hourly chart of AUD/USD at FXOpen, the pair remained stable near the 0.6500 zone, as discussed in the previous analysis. The Aussie Dollar formed a base and started a decent increase above the 0.6540 resistance against the US Dollar

The bulls pushed the pair above the 0.6550 resistance zone. There was a close above the 0.6565 resistance and the 50-hour simple moving average.

The pair is now consolidating near the 50% Fib retracement level of the downward move from the 0.6595 swing high to the 0.6542 low. On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6575.

The 61.8% Fib retracement level of the downward move from the 0.6595 swing high to the 0.6542 low is also near 0.6575. The first major resistance might be 0.6600. An upside break above the 0.6600 resistance might send the pair further higher.

The next major resistance is near the 0.6650 level. Any more gains could clear the path for a move toward the 0.6720 resistance zone.

If not, the pair might correct lower below the 50-hour simple moving average at 0.6555. There is also a key bullish trend line forming with support at 0.6555. The next support could be 0.6540. If there is a downside break below the 0.6540 support, the pair could extend its decline toward the 0.6510 zone. Any more losses might signal a move toward 0.6450.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-aud-usd-and-nzd-usd-grind-higher-steadily/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 23, 2024, 05:44:48 PM
Nvidia's Successes Helps S&P 500 Price Reach Its All-time High
(https://i.imgur.com/XbeLv4B.jpeg)

Yesterday, the price of the S&P 500 stock index rose to record closing highs on Thursday. Moreover, such a growth rate (+2.11% per day) has not been observed for 13 months.

Reasons for Extremely Bullish Sentiment:
→ Nvidia's report, which showed impressive earnings and prospects (the company forecasts roughly threefold revenue growth in the first quarter of 2024 amid strong demand for its AI chips). Nvidia's capitalization grew by USD 277 billion in one day — a historical record for the US stock market.
→ Positive news background for yesterday: the US Flash Manufacturing PMI index was actually = 51.5, expected = 50.5, a month ago = 50.7. Signals from the labor market were also positive - the weekly number of applications for unemployment benefits turned out to be = 201k (expected = 217k).

Technical analysis of the S&P 500 chart shows that the price continues to move within the ascending channel, which has been in effect since the beginning of 2024 (shown in blue).

(https://i.imgur.com/ow8jlRj.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-nvidias-successes-helps-s-p-500-price-reach-its-all-time-high/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 26, 2024, 09:32:52 AM
Bitcoin Price Risks Not Staying above $50k
(https://i.imgur.com/FRczQP2.jpeg)

On February 14, a strong bullish impulse was recorded in the BTC/USD market, which pushed the price of bitcoin to the area above USD 50k.

The main driver of growth was the effect of the launch of a bitcoin ETF. More than a month has passed since this event, and according to media reports, the ETF has seen an influx of more than USD 7 billion. For example, BlackRock has about 125k bitcoins on its balance sheet to support its ETF fund.

Also adding to the positive mood among market participants is news about the benefits received by companies that invested in bitcoin: MicroStrategy, Block and others. Among the latest news is Reddit's decision to invest in bitcoin.

(https://i.imgur.com/oL2WQR9.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-bitcoin-price-risks-not-staying-above-50k/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 26, 2024, 11:27:18 AM
NZD/USD Technical Analysis: Bearish Start To News-heavy Week
(https://i.imgur.com/hocxk13.jpeg)

After 8 consecutive days of growth, the price of NZD/USD is forming a bearish candle this morning, thereby indicating possible concerns among market participants at the beginning of a week full of important economic news:

→ On Wednesday, at 4:00 GMT+3, the RBNZ decision on interest rates will be published. There will also be a press conference by the leadership of the Central Bank.
→ On the same day, at 16:30 GMT+3, news about US GDP is expected.
→ On Thursday, at 16:30 GMT+3, inflation data in the United States will be published, namely Core PCE Price Index GMT+3.

Note that in 2023, the NZD/USD price behaved bearishly, forming a downward channel (shown in red).

(https://i.imgur.com/8juPDWC.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-nzd-usd-technical-analysis-bearish-start-to-news-heavy-week/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 26, 2024, 02:24:06 PM
The US Continues to Trump the Euro Economy on Key Metrics, But What Is Next?
(https://i.imgur.com/Wqo0AfJ.jpeg)

A clear measure of public confidence in a national economy, as well as the ability to access a key component of it, is how many new homes are being sold compared to previous months.

There are a number of important factors that point to the overall health of a nation and its population's finances, which are demonstrated by this, for example, the ability for people to access mortgages and pay reasonable interest on the repayments, creditworthiness and the ability to repay those mortgages, and enough confidence that there will be a market for the homes that a construction company would see fit to invest in buying the land and endure the upfront costs of building homes.

Today, in the United States, new home sales figures for January 2024 will be announced, and the expected figure, according to many economic calendars, is around 680,000 new homes sold in January this year compared to 664,000 in the same period last year.

Interest rate increases have burdened mortgage holders as well as those making repayments on unsecured borrowing over recent years, and the same interest rate increases have caused corporations - including homebuilders - to have to pay more toward their monthly borrowing over this period of high-interest rates.

By their very nature, interest rate rises are designed to curb spending in order to reduce inflation, and in the context of property construction and purchase by domestic customers, it is clear that a rising interest rate would likely have an effect on buyers as well as construction companies.

However, the strength of the US economy has once again shown its mettle over the past few days, as the US Dollar has been strong against other majors. Looking at the EURUSD pair, considerable volatility has been evident. At 9.10 am UK time this morning, the EURUSD was trading at 1.08347, which shows a slight upturn in fortune for the Euro, which on February 20 had stood at 1.07750.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-the-us-continues-to-trump-the-euro-economy-on-key-metrics-but-what-is-next/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 26, 2024, 03:40:40 PM
Exchange Rates Consolidate at the Beginning of the Week
(https://i.imgur.com/PXo6JIO.jpeg)

Trading participants continue to evaluate the prospects for a change in the US Federal Reserve's monetary course against the backdrop of the publication of the minutes of the January meeting. Officials reiterated their cautious stance on lowering borrowing costs and, moreover, expressed concern about the possibility of shifting too early to dovish rhetoric. The document strengthened investor confidence that the adjustment of parameters could be postponed until the second half of the year, which strengthens the US dollar’s position against its main competitors: at the moment, more and more investors are counting on the first adjustment to borrowing costs in June, but these expectations are also regularly revised. In the US, the publication of January statistics on the dynamics of sales of new homes is expected during the day: in the previous period, the figure increased by 8.0% month-on-month to 0.644 million units. On Tuesday, February 27, the US will release February statistics on durable goods orders and consumer confidence. Forecasts suggest a slowdown in the dynamics of orders for durable goods excluding transport from 0.5% to 0.2%.

EUR/USD

The EUR/USD pair shows a slight decline, holding at 1.0820. Immediate resistance can be seen at 1.0888, a break higher could trigger a rise towards 1.0960. On the downside, immediate support is seen at 1.0812, a break below could take the pair towards 1.0760.
Today investors will pay attention to the speech of ECB head Christine Lagarde. In the EU, February data on inflation dynamics will be presented at the end of the week: the consumer price index is expected to slow down from 2.8% to 2.5% in annual terms, and the core indicator - from 3.3% to 2.9%. Traders continue to evaluate German data on GDP and business optimism released on Friday. Thus, the German economy in the fourth quarter of 2023 lost another 0.3% on a quarterly basis and 0.4% on an annual basis. The IFO business optimism index in February adjusted from 85.2 points to 85.5 points, which coincided with analysts’ forecasts, the indicator for assessing the current situation remained at 86.9 points with expectations at 86.7 points, and the economic expectations index increased from 83.5 points to 84.1 points, while experts expected 84.0 points.

Technical analysis of EUR/USD shows that a new upward channel has formed based on last week’s highs. Now the price is near the lower border and may continue to rise.

(https://i.imgur.com/ZDDkAVV.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-exchange-rates-consolidate-at-the-beginning-of-the-week/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 27, 2024, 04:07:40 PM
AMZN Share Price Hits 25-Month High After Inclusion in DJIA Index
(https://i.imgur.com/csZPQx1.jpeg)

As of February 26, Walgreens Boots Alliance (WBA) is no longer used in the calculation of the Dow Jones Industrial Average, replaced by Amazon (AMZN).

The planned index rebalancing was carried out because:
→ Walgreens shares currently have the lowest price among all companies included in the Dow index;
→ S&P Dow Jones Indices adds Amazon as it seeks to increase the Dow's retail exposure to reflect the emerging nature of the US economy. This was also influenced by the fact that shares of the retail chain Walmart (WMT) underwent a 3:1 split.

The AMZN stock chart today shows that:
→ the AMZN stock price is moving in an upward trend, its contours are indicated by a blue channel;
→ after a strong report (we wrote about this on February 5), a bullish gap formed on the chart — it is now more clearly visible between the levels of 161.5 and 166.5;
→ in the last days of winter, the price approached the upper border of the channel;
→ the price is in the upper half of the channel, and the median line (reinforced by the gap area), according to technical analysis, has the potential to provide support to it;

(https://i.imgur.com/XftpQxT.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-amzn-share-price-hits-25-month-high-after-inclusion-in-djia-index/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 27, 2024, 04:52:11 PM
European Stock Markets on All-Time Roll Despite Economic Bleakness
(https://i.imgur.com/U4hxRpm.jpeg)

There has been so much clamour over the past few months relating to the flagging European economy and stagnating British economy compared to the surprisingly healthy economic situation in the United States that it would be very easy to get buried in the deluge of news articles displaying woe which have been accompanied by a rising US Dollar against a declining Euro and Pound.

However, to write off the European economy as second fiddle to that of the United States purely on the grounds of a rising Dollar, some return to form for tech stocks and a relatively mediocre set of meeting notes from the Federal Open Market Committee, which reiterated the lack of a reduction in interest rates for the near future, would be churlish, to say the least.

On the European side of the Atlantic, a more thorough inspection of the overall market conditions would soon put the flagging Euro and mainstream media speculation of recession into perspective.

Over the past few weeks, European stocks have been increasing in value to the extent that some indices have registered an all-time high.

The CAC 40 index in France concluded the European session yesterday at 7,960.8 according to FXOpen charts, which is an all-time record high for the index, which comprises the 40 most highly capitalised stocks listed on French stock exchanges.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-european-stock-markets-on-all-time-roll-despite-economic-bleakness/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 28, 2024, 11:54:10 AM
Market Analysis: Gold Price and Crude Oil Price Eye More Upsides
(https://i.imgur.com/YdCgaoq.jpeg)

Gold price started a decent increase above the $2,028 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $80.00.

Important Takeaways for Gold and Oil Prices Analysis Today


Gold Price Technical Analysis
(https://i.imgur.com/Ks8RZK7.png)

On the hourly chart of Gold at FXOpen, the price found support near the $2,015 zone. The price formed a base and started a fresh increase above the $2,020 level.

There was a decent move above the 50-hour simple moving average and $2,028. The bulls pushed the price above the $2,035 resistance zone. Finally, the bears appeared near $2,040, A high was formed near $2,039.44 and the price is now consolidating gains.

The recent low was formed at $2,028 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $2,039 swing high to the $2,028 low.

The RSI is still stable near 40 and the price could aim for more gains. Immediate resistance is near the $2,035 level. It is close to the 61.8% Fib retracement level of the downward move from the $2,039 swing high to the $2,028 low.

The next major resistance is near the $2,040 level. An upside break above the $2,040 resistance could send Gold price toward $2,050. Any more gains may perhaps set the pace for an increase toward the $2,065 level.

Initial support on the downside is near the $2,028 zone. There is also a key contracting triangle forming with support near $2,028. If there is a downside break below the $2,028 support, the price might decline further. In the stated case, the price might drop toward the $2,015 support.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-gold-price-and-crude-oil-price-eye-more-upsides/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 28, 2024, 11:55:45 AM
AAPL Share Price Rises Nearly 1% after Scrapping Electric Vehicle Plans
(https://i.imgur.com/N0LDvVX.jpeg)

In 2021, the release of an electric car from Apple was expected in 2025, in 2022, the deadline was shifted to 2026. As it became known yesterday from Bloomberg and WSJ, Apple decided to completely abandon the project.

Causes for this decision:
→ the electric vehicle market turned out to be not so turbulent;
→ production and technological difficulties;
→ the strong development of electric vehicle construction in China may also have played a role.

Some employees will be fired, others will be transferred to a more promising department related to developments in the field of AI. Despite the fact that the ambitious project, which lasted about 10 years, failed, the price of AAPL shares rose by almost 1% yesterday as a result of trading — perhaps investors positively assessed the reorientation from electric vehicles to a more promising direction related to AI.

(https://i.imgur.com/btrzp6U.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-aapl-share-price-rises-nearly-1-after-scrapping-electric-vehicle-plans/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 28, 2024, 11:57:08 AM
Australian Dollar Weakens amid Inflation News
(https://i.imgur.com/rHhpMwr.jpeg)

According to data published today by the Australian Bureau of Statistics, the Consumer Price Index (CPI) value was: actual 3.4%, expected = 3.6%, a month ago = 3.4%, 2 months ago = 4.3%.

Data shows Australia's consumer price growth rate is slowing, approaching targets of around 2%. This means less pressure on the Reserve Bank of Australia, which is pursuing tight monetary policy to combat inflation. Thus, the prospect of lower interest rates makes the Australian dollar weaker relative to other currencies.

For example, the reaction to news about inflation in Australia, which was below expectations, was the fall in the price of AUD/USD.

Technical analysis of the AUD/USD chart shows that:
→ the price of AUD/USD continues to develop in a downward channel (shown in red);
→ the price has broken through the important level 0.6535, which served as support since last week, but now, perhaps, will again begin to provide resistance, as it did in the first half of February;
→ in February, a bearish SHS pattern formed.

(https://i.imgur.com/WEKE7gM.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-australian-dollar-weakens-amid-inflation-news/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 28, 2024, 01:29:10 PM
Brent Crude Oil Makes Sudden Rally As OPEC Countries Mull Low Output
(https://i.imgur.com/f2DGVcO.jpeg)

Crude oil is a particularly unusual substance in that it is one of the only consumable commodities that institutions and private individuals widely trade across the spectrum of global markets, and it is a staple component as an energy resource in most aspects of everyday life, yet its value is maintained by a cartel made up of the central governments of the nations that extract it from the earth.

This combination of completely unique circumstances and operational conditions means that the requirement for crude oil to perform its task as a basis for fuels combined with the method by which the OPEC+ countries are able to control its price via aligning to reduce or increase production and distribution makes for an interesting marketplace.

This week, news surfaced across mainstream media around the possibility that the OPEC+ countries may consider an extension of the reduction in crude oil production and supply that is currently in place.

The current level of production and supply that has been set by the OPEC+ countries is subject to a reduction, which was agreed on in November 2022 during a meeting of the OPEC+ nations led by the Russian Federation. At that time, a reduction of approximately 2.2 million barrels of crude oil per day was agreed. However, this week, there has been some thought that the OPEC+ nations may consider extending this reduced amount of production into the second quarter of this year.

Fuel prices have steadily been rising on the consumer side, meaning that the cost of refined fuel oils has had to factor these reductions in, and perhaps motorists may have noticed that unleaded fuel and diesel oil for road vehicles have crept up in price very slightly over the past month or so, however, should the extension of a reduced output take place, the wider effect could make its way onto the financial markets, where oil is traded as a commodity.

Over the course of the past day, US Brent Crude Oil has risen in price dramatically. According to FXOpen charts, Brent Crude Oil concluded the trading day on February 26 at $80.51 per barrel, whereas it begins the trading day today at $82.24 per barrel.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-brent-crude-oil-makes-sudden-rally-as-opec-countries-mull-low-output/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 29, 2024, 12:14:18 PM
BTC/USD Price Exceeds $60,000 Per Coin
(https://i.imgur.com/lwqMAow.jpeg)

Several factors contributed to this:

→ Effect associated with the approval of Bitcoin ETF. The media writes that investments in these financial instruments amount to about 9k bitcoins per day, and miners produce only 900 bitcoins per day. The total investment in the Bitcoin ETF after approval on January 11 is approaching USD 50 billion. By comparison, just over USD 90 billion is invested in the 19 largest gold ETFs.

→ Expectations that Ethereum ETFs will be approved in the future, simplifying access to investments in the second largest cryptocurrency by capitalization.

→ Expectations for the Fed to cut interest rates. Cheaper credit means greater appetite for investment in higher-risk assets.

→ Expectations for the halving (scheduled for April), after which a bull market usually begins.

In mid-February, we wrote that the price of Bitcoin did not show bullish progress after exceeding the psychological level of USD 50k per Bitcoin. Technical analysis of the Bitcoin chart shows that this was due to resistance (shown by the arrow) from the median line of the green ascending channel, within which the market has been developing since the fall of 2023. Yesterday's rise, which followed the breakdown of the psychological level of 60k US dollars per bitcoin, marked the upper limit of this channel just above 64k US dollars per bitcoin and made it possible to update its contours.

(https://i.imgur.com/cjH3Vem.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-btc-usd-price-exceeds-60-000-per-coin/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 29, 2024, 12:15:35 PM
The American Currency Resumes Its Growth
(https://i.imgur.com/BrSqBzz.jpeg)

The American currency, despite a rather multidirectional fundamental data, resumes growth at the end of February. In the main currency pairs, one can observe both rebounds from key levels and continuation of the main trends. Thus, the USD/CAD pair managed to strengthen above 1.3500, the GBP/USD pair lost about 100 pp after rebounding from 1.2700, and EUR/USD buyers failed to strengthen above 1.0900.
USD/CAD

Fluctuations in the oil market contributed to the strengthening of the USD/CAD pair. At the beginning of the week, sellers of the pair tried to break the support at 1.3400, but, as we see, were unsuccessful. Yesterday, the price on the USD/CAD chart not only strengthened above 1.3500, but also updated the current year’s maximum at 1.3580. If the pair's buyers do not lose their upward momentum, the price may strengthen to 1.3770-1.3700. The upward scenario may be cancelled by consolidation below the level of 1.3400.

Today, we can expect increased volatility in the pair. At 16:30 GMT+3, we are waiting for data on Canadian GDP for the fourth quarter of last year. At the same time, the basic price index of personal consumption expenditures in the US for January and indicators on applications for unemployment benefits for the current week will be published.

(https://i.imgur.com/vaJdiEF.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-the-american-currency-resumes-its-growth/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on February 29, 2024, 12:21:16 PM
USD/JPY Technical Analysis: Yen Strengthens after Comments from Japanese Officials
(https://i.imgur.com/sxCrmMN.jpeg)

This week has raised alarm bells for USD/JPY market participants who are trading the bullish momentum that has been going on since early 2024 (shown in the blue curved lines on the USD/JPY chart):

→ Vice Finance Minister Masato Kanda warned against “excessive volatility” in currency markets, hinting that the yen had weakened too much.
→ Bank of Japan board member Hajime Takata said that, in his opinion, there are prospects for achieving the inflation target of 2%, which opens the way to abandoning negative rates. Note that today there was news on inflation in Japan, which showed that it is slowing down. Thus, BOJ Core CPI in annual terms was 2.6%, a month ago = 2.6%, 2 months ago = 2.7%, 3 months ago = 3.0%.

(https://i.imgur.com/uyMbWEe.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-usd-jpy-technical-analysis-yen-strengthens-after-comments-from-japanese-officials/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 01, 2024, 08:09:21 AM
Market Analysis: GBP/USD Struggles While USD/CAD Aims Higher
(https://i.imgur.com/O3q8VDi.jpeg)

GBP/USD is attempting a recovery wave from 1.2600. USD/CAD is rising and might aim for a move above the 1.3580 resistance zone.

Important Takeaways for GBP/USD and USD/CAD Analysis Today


GBP/USD Technical Analysis
(https://i.imgur.com/EbAZm5A.png)

On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2700 zone. The British Pound traded below the 1.2650 support to move into further a bearish zone against the US Dollar, as mentioned in the previous analysis.

The pair even traded below 1.2620 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2600 level. A low was formed near 1.2612 and the pair is now attempting a short-term recovery wave.

There was a fresh upside above the 1.2620 level. The pair climbed above the 23.6% Fib retracement level of the downward move from the 1.2681 swing high to the 1.2612 low.

Immediate resistance on the upside is near the 50% Fib retracement level of the downward move from the 1.2681 swing high to the 1.2612 low at 1.2650 and the 50-hour simple moving average. The first major resistance on the GBP/USD chart is near the 1.2665 level.

There is also a key bearish trend line forming with resistance near 1.2665. A close above the 1.2665 resistance might spark a decent recovery wave. The next major resistance is near the 1.2700 level. Any more gains could lead the pair toward the 1.2750 resistance in the near term.

Initial support sits near 1.2620. The next major support sits at 1.2610, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2540.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-gbp-usd-struggles-while-usd-cad-aims-higher/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 01, 2024, 10:38:33 AM
Nasdaq-100 Price Hits All-time High after 4 Straight Months of Gains
(https://i.imgur.com/OBQUXHF.jpeg)

The Nasdaq-100 index is holding above 18,000 today following yesterday's bullish momentum, fueled by inflation news.

The PCE consumer spending index amounted to 0.4% on a monthly basis, which was in line with analysts' expectations. A year ago, we recall, it was 0.6%. Thus, statistics indicate a weakening of inflation which means that the likelihood of the Fed cutting interest rates increases — the anticipation of this event increases optimism in the stock market.

Another driver is the strong price action of NVDA stock. The company's capitalization is close to USD 2 trillion, as Nvidia is perhaps the main beneficiary of the AI boom — NVDA's price rose approximately 28% in February.

(https://i.imgur.com/fFTcOgi.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-nasdaq-100-price-hits-all-time-high-after-4-straight-months-of-gains/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 01, 2024, 01:26:48 PM
Price of Gold Briefly Exceeded $2,050 per Ounce
(https://i.imgur.com/y45RPmy.jpeg)

In addition to new records in the stock markets, the reaction to yesterday's news about inflation in the US was also a decrease in government bond yields and a rapid rise in the price of gold — the cost of XAU/USD jumped by 0.9% in just one hour, while the day's high exceeded USD 2,050 per ounce .

However, on Friday morning the price of XAU/USD dropped below USD 2,040 – did market participants misjudge the impact of US inflation on the price of gold?

XAU/USD chart shows that:
→ the price of gold is in a downward trend (shown in red);
→ yesterday, the price not only touched the psychological level of USD 2,050, but also reached the upper limit of the downward red channel. That is, both lines acted as a block of resistance, which appears to be a serious obstacle to the upward impulse (shown by blue lines).

(https://i.imgur.com/TDDxoRC.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-price-of-gold-briefly-exceeded-2-050-per-ounce/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 01, 2024, 07:07:21 PM
Watch FXOpen's 26 February - 1 March Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: CAC 40, AUD, OIL, AMAZON

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights..


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=kLkap8VHjRA)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/sgpeQvS.jpeg) (https://www.youtube.com/watch?v=kLkap8VHjRA)

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 04, 2024, 11:29:43 AM
WTI Oil Price Reaches 4-month High against the Backdrop of OPEC+ Decision
(https://i.imgur.com/Yf2i5q6.jpeg)

On Friday, the price of a barrel of WTI crude oil exceeded USD 80 per barrel due to the decision to continue the policy of reducing oil production by OPEC+ countries.

Saudi Arabia said on Sunday it would extend oil production cuts until June to “maintain stability and balance in oil markets,” an official statement said. Kuwait and the United Arab Emirates also said they would also continue cuts.

NYT writes that the decision was expected. At the same time, the price of WTI oil exceeded USD 80 per barrel on Friday for the first time since the beginning of November 2023.

The price chart for WTI oil shows that the market has been in an upward trend since mid-December - the price has formed an upward channel (shown in blue). In addition to the OPEC+ policy, the strength of demand is also supported by:
→ uncertainty in the military conflict between Hamas and Israel;
→ facts of attacks on oil tankers in the Red Sea.

(https://i.imgur.com/NMCOy8I.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-wti-oil-price-reaches-4-month-high-against-the-backdrop-of-opec-decision/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 05, 2024, 07:15:14 AM
5 Stocks To Consider in March 2024
(https://i.imgur.com/ZwnHaRY.jpeg)

Here we are, beginning the last month of the first quarter of 2024, which has passed by in somewhat of a flash.

Perhaps the apparent speed at which the spring is approaching can be attributed to what appears to be a single issue among analysts and market participants since the beginning of the year, that being the anticipation of announcements by central banks in Western countries with regard to monetary policy. Put simply, is the rate of interest going down?

Rather interestingly, it did not. The United States led the charge of announcements relating to monetary policy this year, and contrary to popular belief, the interest rates have not been reduced. The equities and commodities markets have had extra factors to consider, including logistical dire straits in the Red Sea, meaning products cannot reach their destination as freely as last year, and OPEC+ countries looking at production cut extensions in front of a backdrop of war in the Eastern Mediterranean region.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-5-stocks-to-consider-in-march-2024/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 05, 2024, 10:18:37 AM
Swiss Franc Weakens after Inflation News
(https://i.imgur.com/VrcsFz0.jpeg)

Inflation in the country fell in February to its lowest level in nearly two-and-a-half years, data from Switzerland's Federal Statistical Office showed on Monday. Although consumer prices rose 1.2% compared to a year earlier, there is reason to believe that inflation is slowing down compared to the 1.3% recorded a month earlier.

Reuters writes that the Swiss National Bank has kept inflation rates within the target range since May 2023, despite rising rents, sales taxes and energy prices. And the latest news makes it more likely that the SNB will cut rates at its next meeting, scheduled for March 21.

Thus, market participants can expect a looser policy and an affordable franc — which is why the CHF has weakened against a number of currencies. For example, the EUR/CHF rate has reached its highest level since November 2023.

(https://i.imgur.com/xVh4XcY.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-swiss-franc-weakens-after-inflation-news/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 05, 2024, 10:41:45 AM
The Market Focusing on Speech of Federal Reserve Head
(https://i.imgur.com/NWGDzFd.jpeg)

Despite the abundance of fundamental data of the past trading week, the main currency pairs continue to trade in rather narrow flat corridors. Thus, the US dollar/yen currency pair is trading above 150.00, from time to time testing the figure 149, buyers of the pound/US dollar pair do not give up trying to go above 1.2700, and the euro/US dollar pair has been trading between 1.0900-1.0800 for about three weeks. Apparently, investors are waiting for more specific signals from leading central banks to open new positions.

USD/JPY
(https://i.imgur.com/hWgcLCq.png)

Last week, greenback buyers in the USD/JPY pair once again tried to test important resistance at 151.00. The attempt was unsuccessful and ended with a sharp rollback to 149.10, which allowed the formation of a reversal pattern to begin on the weekly timeframe. If on the USD/JPY chart in the coming trading sessions the level of 151.00 remains in resistance status, the price may test 149.00 again. If buyers manage to gain a foothold above 151.00, growth may resume towards last year's highs at 151.90.

Today at 17:45 GMT+3, we are waiting for the publication of data on the business activity index (PMI) in the services sector for February. A little later, the Purchasing Managers' Index for the US non-manufacturing sector from ISM will be published for the same period.

Tomorrow at 18:00 GMT+3, Fed Chairman Jerome Powell is scheduled to speak.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/ru-the-market-focusing-on-speech-of-federal-reserve-head/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 05, 2024, 02:03:31 PM
EURUSD Technical Analysis – 05th MAR, 2024

EURUSD – Ichimoku: price is over the cloud
(https://i.imgur.com/eW1KhuH.png)

EURUSD started this week on a bullish note and managed to touch a high of 1.0866 after which we can see some market consolidation. We are now looking to Re-enter the bullish channel after the current consolidation phase gets over.
We can see the formation of Bullish Trend reversal pattern with adaptive moving average AMA20 in the 1-hourly timeframe.

We can see that the Ichimoku: price is over the cloud in the 4-hourly timeframe indicating the bullish nature of the markets.
The Williams percent range indicator is back over zero in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.0869.

The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0869 which is a 3-10 Day MACD Oscillator Stalls.

EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages:

The next resistance is located at 1.0917 which is a 50% Retracement From 13 Week High/Low.
EURUSD is now trading below its Pivot levels of 1.0852 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0848 and is moving towards its next target of 1.0917.


Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog (https://fxopen.com/blog/en/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 05, 2024, 02:04:41 PM

GBPUSD Technical Analysis – 05th MAR, 2024

GBPUSD – Price is back over the pivot point
(https://i.imgur.com/3zVexJ4.png)

GBPUSD started his week into a consolidation channel after which we can see some downside moves touching a low of 1.2670 today in the Asian trading session.
Now again the prices of Pound have entered into a consolidation wave which is expected to last for around 12 hrs.

We can see that the Price is back over the pivot point in the 4-hourly timeframe indicating a bullish trend present in the markets.
We have also seen a bullish opening of the markets this week.

We can see the formation of Bullish trend reversal pattern with the adaptive moving average AMA20 in the 1-hourly timeframe.

GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average:

GBPUSD is now trading below its Pivot levels of 1.2682 and is moving into a Bullish channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2691 and the next target is located at 1.2702 which is a 38.2% Retracement From 13 Week High.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

For in-depth analysis, please check FXOpen Blog (https://fxopen.com/blog/en/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 05, 2024, 02:27:27 PM
NASDAQ Rally Shows Tech Stocks Are Back in Focus - But for How Long?
(https://i.imgur.com/aDIctwV.png)

The NASDAQ index, well known as a premier listing venue for North American technology companies across the entire spectrum from the Silicon Valley giants to recently listed newcomers, has been going from strength to strength during the beginning part of this year.

At the beginning of January, the NASDAQ was resting at a relatively low point in the mid-16,300 range and has since risen to 18,318.7 at the high points of the trading day in New York yesterday, according to FXOpen pricing.

This is a considerable increase, and apart from a few small dips along the way, it has been consistent for the majority of the first quarter of the year so far.

Yesterday's trading was of great interest to those with a keen penchant for US tech stocks, as the NASDAQ's high point of 18,318.7 represented an all-time record for the index, clearly demonstrating that these days, there is a clear distinction between enthusiasm among traders for NASDAQ-listed companies compared to two years ago when there was a sustained period of low value across NASDAQ listed stocks.

Those times are gone, and the halcyon days are back. However, the euphoria subsided slightly as the trading day came to a close yesterday during the US session, as the NASDAQ, despite a rallying group of technology stocks tied to the artificial intelligence boom keeping the values high, began to make a slight climbdown from its historic high.

Trading will begin today with the NASDAQ index standing at 18,129.1 according to the bottom of the candlestick on FXOpen charts, which is still high compared to the entire history of the NASDAQ index apart from the levels it reached during yesterday's trading.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/gt-nasdaq-rally-shows-tech-stocks-are-back-in-focus-but-for-how-long/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 06, 2024, 09:49:25 AM
Market Analysis: EUR/USD Eyes More Gains, USD/CHF Could Rally
(https://i.imgur.com/0xMeNXM.jpeg)

EUR/USD started a fresh increase above the 1.0828 resistance. USD/CHF declined and now struggling below the 0.8860 resistance.

Important Takeaways for EUR/USD and USD/CHF Analysis Today


EUR/USD Technical Analysis
(https://i.imgur.com/IBwWOMs.png)

On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0800 zone. The Euro cleared the 1.0828 resistance to move into a bullish zone against the US Dollar, as mentioned in the previous analysis.

The bulls pushed the pair above the 50-hour simple moving average and 1.0855. Finally, the pair tested the 1.0875 resistance. A high was formed near 1.0876 and the pair is now consolidating gains. There was a move below the 23.6% Fib retracement level of the upward wave from the 1.0798 swing low to the 1.0876 high.

Immediate support on the downside is near a connecting bullish trend line at 1.0845. The next major support is the 50% Fib retracement level of the upward wave from the 1.0798 swing low to the 1.0876 high at 1.0838.

A downside break below the 1.0838 support could send the pair toward the 1.0800 level. Any more losses might send the pair into a bearish zone to 1.0765.

Immediate resistance on the EUR/USD chart is near the 1.0855 zone. The first major resistance is near the 1.0875 level. An upside break above the 1.0875 level might send the pair toward the 1.0920 resistance.

The next major resistance is near the 1.0940 level. Any more gains might open the doors for a move toward the 1.1000 level.

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/aj-market-analysis-eur-usd-eyes-more-gains-usd-chf-could-rally/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 06, 2024, 01:06:08 PM
After Updating the Historical High, the Price of Bitcoin Collapsed by 14%
(https://i.imgur.com/axIZVlK.jpeg)

Bitcoin's previous all-time high price, recorded on November 10, 2021, was around USD 68,900 per coin (depending on exchanges).

But yesterday, the price of Bitcoin exceeded 69k! However, the jubilation from the new historical peak quickly gave way to fear — as the BTC/USD rate began to fall rapidly. From peak A to low B – the price traveled a path of more than -14% in just 5 hours.

These events highlight 2 characteristic features of the cryptocurrency market:
→ Excessive volatility, which is not typical for the stock and foreign exchange markets. For comparison: on October 19, 1987 — Black Monday — the S&P 500 index fell by about 20.5%. After this incident, there were no days when the drop exceeded 14%.
→ Emotionality of the market and the importance of psychological levels. At these levels, the price of Bitcoin often makes false punctures. Yesterday, there were 2 such punctures: a false bullish puncture of the 2021 top, and a false bearish puncture of the round level of 60k dollars for Bitcoin.

(https://i.imgur.com/bbxEGmt.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-after-updating-the-historical-high-the-price-of-bitcoin-collapsed-by-14/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 06, 2024, 01:08:22 PM
TSLA Stock Price Falls Over 9% in Just 2 Days
(https://i.imgur.com/uXm3Bp5.jpeg)

The day before yesterday, trading in TSLA shares began at an opening price of USD 199.34; trading yesterday closed at a price of USD 180.51. The fall in TSLA shares led Musk to lose the title of the world's richest man to Jeff Bezos.

The main driver of the decline in the price of TSLA shares was news:
→ about the temporary shutdown of the Giga Berlin plant in Germany after an arson set by a group claiming that the company led by Elon Musk is devouring “land, resources, people”;
→ that deliveries of electric cars from the Shanghai plant have dropped to their lowest level in more than a year — which may indicate fierce competition with Chinese manufacturers.

It also became known that Morgan Stanley analyst Adam Jonas is lowering his target price from USD 345 to USD 320 and predicting a decline in sales for FY24.

(https://i.imgur.com/OzCRpkr.png)

VIEW FULL ANALYSIS VISIT - FXOpen Blog... (https://fxopen.com/blog/en/oa-tsla-stock-price-falls-over-9-in-just-2-days/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 07, 2024, 09:23:18 AM
The Price of Gold XAU/USD Sets a Historical Record Exceeding $2160 per Ounce
(https://i.imgur.com/4OAWKUz.jpeg)

The previous high was around USD 2,135, but gold rose above USD 2,160 an ounce this morning, reaching its highest level ever, as Treasury yields weakened on hopes that the US Federal Reserve will soon begin cutting interest rates.

In a speech yesterday, the Fed chief offered no clarity, saying it would likely be appropriate to ease policy restrictions "at some point this year."

Traders now see a 70% chance of a Fed rate cut in June.

Technical analysis of the XAU/USD chart shows that:
→ the price of gold is in an ascending channel (shown in blue);
→ after a false breakout of its lower border, the price confidently overcame the downward trend line (shown in red) and resistance 2,090;
→ a strong upward impulse led to the RSI indicator entering the extreme overbought zone.

(https://i.imgur.com/2dIDYGV.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-the-price-of-gold-xau-usd-sets-a-historical-record-exceeding-2160-per-ounce/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 07, 2024, 09:24:30 AM
USD/CAD Analysis: Canadian Dollar Strengthens after Bank of Canada Decision
(https://i.imgur.com/5boNnE0.jpeg)

The Bank of Canada has decided to keep interest rates at 5.0% for the fifth time in a row, it announced yesterday, as it continues to look for clearer signs that inflation is moving closer to the bank's 2% target before considering rate cuts.

According to Bank of Canada Governor Tiff Macklem:
→ the Bank is concerned that underlying inflationary pressures remain.
→ It is too early to ease restrictive policies. There is a clear consensus within the Board of Governors that the time has not come (for rate cuts).
→ We are now in a difficult phase of the monetary cycle.

These hawkish statements contributed to the Canadian dollar strengthening against other currencies, in particular against the US dollar.

(https://i.imgur.com/13U2mQQ.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-usd-cad-analysis-canadian-dollar-strengthens-after-bank-of-canada-decision/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 07, 2024, 07:37:30 PM
Watch FXOpen's 4 - 8 March Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: CHF, CAD, GOLD, TSLA

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights..


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=38PJ7pfxA38)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/pqXUXEb.jpeg) (https://www.youtube.com/watch?v=38PJ7pfxA38)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 08, 2024, 08:55:59 AM
Market Analysis: AUD/USD and NZD/USD Start Fresh Rally
(https://i.imgur.com/mVBT2wr.jpeg)

AUD/USD is gaining pace and recently cleared 0.6600. NZD/USD is also rising and could extend its increase above the 0.6200 resistance zone.

Important Takeaways for AUD/USD and NZD/USD Analysis Today


AUD/USD Technical Analysis
(https://i.imgur.com/QK65R92.png)

On the hourly chart of AUD/USD at FXOpen, the pair formed a base above 0.6480, as discussed in the previous analysis. The Aussie Dollar gained strong bids and started a decent increase above the 0.6540 resistance against the US Dollar.

The bulls pushed the pair above the 0.6580 resistance zone. There was a close above the 0.6600 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6635 zone. A high is formed at 0.6633 and the pair is now consolidating above 23.6% Fib retracement level of the upward move from the 0.6477 swing low to the 0.6633 high.

On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6635. The first major resistance might be 0.6650. An upside break above the 0.6650 resistance might send the pair further higher.

The next major resistance is near the 0.6720 level. Any more gains could clear the path for a move toward the 0.6800 resistance zone.

If not, the pair might correct lower. Immediate support is near a connecting bullish trend line at 0.6615. The next support could be 0.6595. If there is a downside break below the 0.6595 support, the pair could extend its decline toward the 0.6580 zone.

Any more losses might signal a move toward the 61.8% Fib retracement level of the upward move from the 0.6477 swing low to the 0.6633 high at 0.6540.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-aud-usd-and-nzd-usd-start-fresh-rally/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 11, 2024, 11:35:05 AM
EUR/USD Hits 8-week High
(https://i.imgur.com/eQOVr2k.jpeg)

The euro is trading above USD 1.09, hitting its strongest point since mid-January on Friday, helped by news from both the US and Europe.

Friday's news showed that the US labor market is weakening:
→ The change in employment in the non-farm sector showed an increase in jobs = 275k for the month, although last month it was = +353k.
→ The unemployment rate rose to 3.9%, although it was 3.7% for 3 months.
News of a weakening labour market could put pressure on the Fed to ease monetary policy.

Meanwhile in Europe, the ECB kept borrowing costs at a record high, citing significant progress in containing inflation, and revised its inflation expectations downward, forecasting price growth of 2.3% in 2024, and 1.9% in 2025. And during a press conference last Thursday, ECB President Lagarde told reporters that policymakers had not discussed rate cuts at that meeting.

Thus, there is reason to believe that the Fed will start lowering rates earlier (it started raising them earlier than the ECB). And this assumption is shared by many market participants, judging by the bullish dynamics in the EUR/USD market.

(https://i.imgur.com/u0it3Qs.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-eur-usd-hits-8-week-high/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 11, 2024, 02:48:34 PM
The rally is over! NASDAQ leads US stock market declines
(https://i.imgur.com/BpS8A1x.jpeg)

The halcyon days of US tech stock rallies with increasing values of companies listed on the NASDAQ exchange, which have taken place alongside the increasing values of other North American indices, have ended abruptly.

The past few weeks have been of great interest, with the NASDAQ index leading the charge toward a seemingly unrelenting increase in value as confidence in large companies developing AI technology, such as NVIDIA, well known for its graphics cards and now highly engrossed in AI development, as well as strong performance from specialist American firms such as Broadcom and cloud computing giant Cloudstrike Holdings which have led the rally well into March.

As well as the NASDAQ index having tailed off, other US stock indices have experienced similar decrements.

The tables turned quite significantly at the end of last week; however, when the NASDAQ index began to reduce in value, the all-time highs of last week were not replicated this week.

On Friday, the NASDAQ index was trading at 18,273.8 according to FXOpen pricing; however, as market participants anticipate the opening of the US market today, the tech-friendly index is valued at 17,975.7 at the bottom of the candlestick in the pre-market opening hours.

In keeping with the nature of US tech stocks, volatility is once again a subject of discussion across mainstream reports and among analysts, especially given that one of the contingents of the NASDAQ index that was contributing to its rally, NVIDIA, has experienced a decline in stock value by 5.5%, according to some media reports, during the course of Friday last week after a substantial rally that has seen it gain approximately 80% year to date.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/gt-the-rally-is-over-nasdaq-leads-us-stock-market-declines/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 11, 2024, 02:51:08 PM
US Dollar Ended the Week under Pressure
(https://i.imgur.com/haplE1o.jpeg)

The February labour market report was published in the United States. The number of new jobs created by the national economy outside the agricultural sector increased by 275.0k in January after an increase of 229.0k a month earlier, while experts expected an increase of 200.0k. It should also be noted that the January figure was revised from the previous estimate of 353.0k jobs. The average hourly wage in annual terms adjusted from 4.4% to 4.3%, and in monthly terms, from 0.5% to 0.1%. At the same time, the unemployment rate in February increased sharply from 3.7% to 3.9%.

EUR/USD
(https://i.imgur.com/oKb04lp.png)

The EUR/USD pair shows mixed dynamics, remaining close to 1.0940. Immediate resistance can be seen at 1.0980, a break higher could trigger a rise towards 1.1100. On the downside, immediate support is seen at 1.0887, a break below could take the pair towards 1.0842.

Market activity remains subdued as investors analyse macroeconomic data released last week. On Friday, March 8, trading participants drew attention to the decline in the annual dynamics of industrial production in Germany in January by 5.5% after -3.5% in the previous month, and in monthly terms the figure strengthened by 1.0% after a reduction of 2 .0% in December against a forecast of 0.6%, which allows the German economy to emerge from recession in the near future. The German producer price index added 0.2% monthly after -0.8% in December, and slowed down by 4.4% year-on-year after -5.1%, while markets were expecting -6.6%. Trading participants also assessed statistics on the eurozone GDP product for the fourth quarter of 2023: on a quarterly basis, the figure remained at 0.0%, and on an annual basis it increased by 0.1%, which coincided with expectations.

Technical analysis of the EUR/USD pair shows that a new upward channel has formed at the highs of last week. Now the price is near the lower border and may continue to rise.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/ru-us-dollar-ended-the-week-under-pressure/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 12, 2024, 09:44:44 AM
A Weak Dollar Is the Driver of Price Records for NASDAQ-100, BTC/USD, XAU/USD
(https://i.imgur.com/J8GtHmo.jpeg)

Financial market participants expect an easing of the Fed's monetary policy. The prospect of lower rates puts pressure on the value of the dollar, which in turn pushes up dollar-denominated assets. This contributed to the setting of record highs:

→ The price of BTC/USD exceeded 70k dollars per bitcoin
→ The price of XAU/USD exceeded USD 2,200 per ounce of gold
→ The NASDAQ-100 index reached 18,400 points.

But are markets too optimistic? Let's see what the technical analysis of the NASDAQ-100 chart shows today:

→ The price is in an uptrend (shown in blue), which has been in effect since the beginning of the year. The price is in the upper half, which may indicate the strength of demand.
→ Top C only slightly exceeded the level of the previous top A. It is not surprising that a bearish divergence has formed on the oscillators — Awesome Osc among them. Buyers who entered long positions at the breakout of top A found themselves in a trap. Sellers who held stops above A lost their positions.

(https://i.imgur.com/33ahsz1.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-a-weak-dollar-is-the-driver-of-price-records-for-nasdaq-100-btc-usd-xau-usd/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 12, 2024, 02:47:46 PM
Australian Dollar Volatility Ends in Lull Ahead Of US Data
(https://i.imgur.com/y3u3PVQ.jpeg)

The Australian Dollar has recently been displaying signs of volatility, with its price varying considerably against the US Dollar over the past few months.

From a low point in October last year, the AUDUSD pair went on a sudden rally, which lasted until December before beginning to fall flat during the course of January. As February drew to a close, the AUDUSD pair began to rise in value again, reaching 0.66251 on March 4, according to FXOpen charts.

Over the past week, the Australian Dollar has been a bit dormant in its movements against the US Dollar; however, this morning's trading session in Australia and across the Asian market session began to demonstrate that some renewed interest is beginning to be shown in the Australian Dollar as the Australian economy begins to look a bit stronger.

This morning as the European markets begin to open, activity from the Australian market is being analysed and one matter of interest is that the Australian S&P index along with the ASX 200 which is an index featuring 200 well capitalised stocks on Australia's ASX exchange, showed improvement over previous performances which is being mooted as a potential strengthening factor for the Australian Dollar.

Today in Australia, financial services executives have held meetings to discuss the GDP within Australia for the fourth quarter of 2023, with nothing out of the ordinary having surfaced and data in line with expectation; however, there is anticipation regarding the forthcoming monetary policy announcements from the US Federal Reserve which may affect the value of the AUDUSD, and forthcoming CPI data in the United States for February looks set to meet expectations at 3.1, identical to that for January.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/gt-australian-dollar-volatility-ends-in-lull-ahead-of-us-data/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 12, 2024, 02:57:54 PM
The US Currency Is Consolidating ahead of the Release of Inflation Data
(https://i.imgur.com/DesBRHU.jpeg)

A rather weak US employment report published last week contributed to the US dollar's decline in almost all areas. Thus, the USD/JPY pair lost more than 150 pp in just a couple of hours, the pound/US dollar pair tested important resistance at 1.2900, and euro/US dollar buyers managed to strengthen above 1.0900.

USD/JPY
(https://i.imgur.com/J1NGI7C.png)

The weak fundamentals from the US are bolstering investor confidence that the Fed will begin cutting interest rates later this year. And although recent statements by the head of the American regulator, Jerome Powell, can hardly be called dovish, market participants prefer short-term sales of greenbacks.

The USD/JPY currency pair fell to 146.50 at the end of last week. Yesterday, buyers of the pair managed to return the price above 147.00, but the full development of an upward correction has not yet been observed. If the pair manages to consolidate above 148.00, the price may test resistance at the alligator lines on the weekly timeframe near the range of 149.50-149.00. An update to the recent low on the USD/JPY chart could trigger a collapse to the extremes of the current year at 146.00-145.80.

Today's news on the basic US consumer price index for February will be important for the pair's pricing.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/ru-the-us-currency-is-consolidating-ahead-of-the-release-of-inflation-data/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 13, 2024, 09:50:12 AM
Market Analysis: GBP/USD Recovers While EUR/GBP Aims More Upsides
(https://i.imgur.com/SrJ0rpj.jpeg)

GBP/USD is attempting a fresh increase from the 1.2745 zone. EUR/GBP is gaining pace and might extend its rally above the 0.8550 zone.

Important Takeaways for GBP/USD and EUR/GBP Analysis Today


GBP/USD Technical Analysis
(https://i.imgur.com/2iKdluh.png)

On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2890 zone. The British Pound traded below the 1.2820 zone against the US Dollar.

A low was formed near 1.2746 and the pair is now attempting a recovery wave. There was a break above the 23.6% Fib retracement level of the downward move from the 1.2893 swing high to the 1.2746 low.

There was a break above a key bearish trend line with resistance at 1.2790, but the pair is still below the 50-hour simple moving average. On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2800.

The next major resistance is near the 1.2820 level or the 50% Fib retracement level of the downward move from the 1.2893 swing high to the 1.2746 low. If the RSI moves above 50 and the pair climbs above 1.2820, there could be another rally. In the stated case, the pair could rise toward the 1.2890 level or even 1.2920.

On the downside, there is a major support forming near 1.2745. If there is a downside break below the 1.2745 support, the pair could accelerate lower. The next major support is near the 1.2700 zone, below which the pair could test 1.2665. Any more losses could lead the pair toward the 1.2550 support.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-gbp-usd-recovers-while-eur-gbp-aims-more-upsides/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 13, 2024, 12:19:25 PM
Today Is an Ethereum Update. ETH/USD Is Above $4,000
(https://i.imgur.com/Ul6hBU8.jpeg)

An update is scheduled for the Ethereum network today, approximately at 16:55 GMT+3.

The update is called Dencun and is the biggest code change since April 2023, when the Shapella update was implemented.

Dencun aims to reduce fees on the growing array of ancillary networks running on top of Ethereum, called layer 2 (L2) “aggregates.” The changes involve “proto-dunksharding” technology, which is intended to improve the blockchain’s ability to process data from L2 networks.

It is believed that the implementation of the update will give impetus to the development of projects built on auxiliary networks. On the other hand, there is a risk of failures. Although it is worth noting that Dencun was deployed three times on test networks, and each time there were no problems.

(https://i.imgur.com/hoqLSqE.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-today-is-an-ethereum-update-eth-usd-is-above-4-000/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 13, 2024, 12:23:04 PM
GBP/USD: Bulls Show Resilience amid Inflation and GDP News
(https://i.imgur.com/9qj8z4q.jpeg)

Yesterday important data on inflation in the United States was published. It caused a significant spike in volatility in financial markets, even though the values were in line with expectations. CPI in monthly terms: actual = 0.4%, forecast = 0.4%, a month ago = 0.3%, a year ago = 0.4%.

And today news came out about UK GDP in monthly terms, which also corresponded to expectations: fact = +0.2%, forecast = +0.2%, a month ago = -0.1%.

It is noteworthy that in both cases the first reaction was a fall in the price of GBP/USD, but then a recovery followed — this is a manifestation of the stability of demand.

(https://i.imgur.com/g37LNW9.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-gbp-usd-bulls-show-resilience-amid-inflation-and-gdp-news/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 14, 2024, 10:55:48 AM
Major Currency Pairs Consolidating after the Release of US Inflation Data
(https://i.imgur.com/QT49Etp.jpeg)

The publication of data on the basic consumer price index in the United States contributed to sharp fluctuations in the foreign exchange market. Thus, the EUR/USD currency pair retested the important level of 1.0900, buyers of the GBP/USD pair did not hold 1.2800 as support, and the USD/JPY pair was sandwiched between 148.00 and 147.00. At the same time, commodity currencies reacted more calmly to US inflation data and continue to trade in rather narrow flat corridors.

GBP/USD
(https://i.imgur.com/X0faxma.png)

Weak data on industrial production in the UK for January and an increase in the unemployment rate to 3.9% against the forecast of 3.8% did not allow buyers of the pound/dollar pair to develop a full-fledged upward trend. If on the GBP/USD chart the range of 1.2820-1.2800 retains its support status, the price may continue to rise in the direction of 1.3100-1.3000. Cancellation of the upward scenario can be considered when moving below the alligator lines on higher time frames.

From the point of view of fundamental analysis, today at 15:30 GMT+3, it is worth paying attention to the publication of data on the producer price index (PPI) in the US for February. Also at the same time, the core retail sales index for the same period will be published.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/ru-major-currency-pairs-consolidating-after-the-release-of-us-inflation-data/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 14, 2024, 11:09:34 AM
USD/JPY: Analysts Adjust Forecasts for the Strengthening of the Yen
(https://i.imgur.com/EuJwWn0.jpeg)

Since the beginning of 2024, the USD/JPY price has been in an uptrend (as shown by the blue channel), but when the rate exceeded the psychological level of 150 yen per US dollar, market sentiment changed. This was due to expectations that the Bank of Japan would take interest rates out of negative territory — and statements from officials gave clear indications of this possibility.

Expecting a tightening of monetary policy, the yen sharply strengthened against the dollar, and a bearish A→B impulse formed on the USD/JPY chart. However, having reached the level of 147 yen per US dollar (and dropped slightly below it), the market has stabilized. Moreover, we see some recovery: today, the USD/JPY price is trading around 147.8.

(https://i.imgur.com/4i4KzO8.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-usd-jpy-analysts-adjust-forecasts-for-the-strengthening-of-the-yen/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 14, 2024, 11:15:27 AM
US500: The Market Has Been Growing without Corrections by 2% for 266 Consecutive Trading Sessions
(https://i.imgur.com/6ge2SbA.jpeg)

The S&P 500 remains in its longest rally since 2018 without a decline of at least 2%, according to data compiled by Bloomberg; analysts note that there hasn't been a correction of this size in 266 trading sessions.

The positive sentiment of market participants is due to:
→ the prospect of lowering interest rates by the Federal Reserve;
→ enthusiasm for AI and its positive impact on economic development.

However, although the fundamental background is strong, current estimates of the US500 index may be overestimated — in fact, this is the essence of the correction.

(https://i.imgur.com/GE8HKGj.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-us500-the-market-has-been-growing-without-corrections-by-2-for-266-consecutive-trading-sessions/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 15, 2024, 08:55:08 AM
Market Analysis: Gold Price Rally Takes Break, Crude Oil Price Surges
(https://i.imgur.com/6hm3zl7.jpeg)

Gold price rallied above $2,180 before correcting lower. Crude oil price is rising and it could climb further higher toward the $82 resistance.

Important Takeaways for Gold and Oil Prices Analysis Today


Gold Price Technical Analysis
(https://i.imgur.com/4CHBTQF.png)

On the hourly chart of Gold at FXOpen, the price was able to climb above the $2,150 resistance, as mentioned in the previous analysis. The price even broke the $2,180 level before the bears appeared.

The price traded close to the $2,200 zone before there was a downside correction. There was a move below the $2,180 pivot zone. The price settled below the 50-hour simple moving average and RSI dipped below 50. Finally, it tested the $2,150 zone.

The price is now consolidating losses near the $2,160 level. Immediate resistance on the upside is near the $2,166 level or the 50% Fib retracement level of the downward move from the $2,179 swing high to the $2,152 low.

The next major resistance is near a key bearish trend line at $2,170. It is close to the 61.8% Fib retracement level of the downward move from the $2,179 swing high to the $2,152 low.

An upside break above the $2,170 resistance could send Gold price toward $2,180. Any more gains may perhaps set the pace for an increase toward the $2,200 level. If there is no recovery wave, the price could continue to move down.

Initial support on the downside is near the $2,164 level. The first major support is $2,150. If there is a downside break below the $2,150 support, the price might decline further. In the stated case, the price might drop toward the $2,132 support.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-gold-rally-takes-break-crude-oil-surges/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 15, 2024, 11:04:18 AM
USD Strengthens Sharply after Inflation News
(https://i.imgur.com/nL3qqMT.jpeg)

Yesterday's publication of producer price indices in the US was a surprise:
→ Core PPI: actual = 0.3%, expected = 0.2%.
→ PPI: actual = 0.6%, expected = 0.3%.

Higher producer prices indicate that high inflation may remain longer than expected. And this reduces the likelihood of the Fed easing monetary policy. Markets now price the likelihood of a Fed rate cut in June at 60%, up from 74% a week earlier, according to CME's FedWatch tool.

The reaction to the news was that the dollar strengthened — there was a bearish day on the stock market, and currencies paired with the USD also fell in price.

Thus, the EUR/USD price decrease yesterday was about 0.55% per day.

On March 11, we wrote that the price of EUR/USD may fall to the lower border of the channel (shown in blue) from the 8-week peak (B). In fact, the price made a bearish breakout of this channel.

(https://i.imgur.com/5RDpl9W.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-usd-strengthens-sharply-after-inflation-news/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 15, 2024, 11:06:19 AM
WTI Oil Price Reaches 4-month High
(https://i.imgur.com/FSb2buH.jpeg)

The International Energy Agency (IEA) has once again raised its forecasts for global oil demand in 2024. While the agency's forecast pointed to the prospect of an oil surplus in 2023, its analysts now believe that the world will experience a shortage of oil in the second half of 2024.

Among the reasons for the shortage:
→ limitation of oil production by OPEC+ countries, it is 2 million barrels per day until the middle of the year. And it may be extended, as Bloomberg writes — the decision is scheduled for June 1;
→ changes in logistics routes due to Houthi attacks on tankers in the Red Sea.

Also, a bullish impulse for the price of WTI oil can be provided by the geopolitical situation, which remains tense.

(https://i.imgur.com/panbB0y.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-wti-oil-price-reaches-4-month-high/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 15, 2024, 09:51:04 PM
Watch FXOpen's 11 - 15 March Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: US500, USD, US Inflation, USD/JPY

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of  FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=mR3WUwwY5Zg)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/bShvnZk.jpeg) (https://www.youtube.com/watch?v=mR3WUwwY5Zg)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial)


Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 18, 2024, 09:43:41 AM
BTC/USD Analysis: Bears Have Become More Active Near the $70,000 Level
(https://i.imgur.com/aBQwStO.jpeg)

On February 26 (A), a strong bullish impulse started in the Bitcoin market. Its trajectory is visually described by a blue line. The price of bitcoins developed along it — this can be interpreted in such a way that market participants agreed that the value of the cryptocurrency was increasing.

If the price of Bitcoin deviated from the blue line, it was only for a short period of time. For example, to pierce the psychological level of USD 60,000 on March 5th.

However, the bullish momentum changed on March 15th, and this can be seen on the BTC/USD chart today:
→ the blue line began to work as resistance (shown by the first arrow);
→ the level of USD 70,000 also began to act as resistance (shown by the second arrow).

(https://i.imgur.com/tz8Hurw.jpeg)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-btc-usd-analysis-bears-have-become-more-active-near-the-70-000-level/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 18, 2024, 11:10:16 AM
Tesla Stock Hits a Low Point as Musk Sues Openai - Is This Year a Total Write-Off?
(https://i.imgur.com/dVK01PW.jpeg)

Occasionally during the course of industrial progress, there is a maverick; a voice that is known for continual disruption and maintaining a high-profile position whilst engaging in such disruption.

The figure of this decade is Elon Musk, a self-starter whose bluster and direct prose cast him as one of the world's most outspoken individuals, as well as a business magnate who manages to influence the financial markets at the click of a button.

From generating unprecedented waves in the cryptocurrency markets in 2021 to causing the motor industry to break with its 130-year-old tradition of using internal combustion as a main method of motive power, Elon Musk's market-making abilities are in line with his disruptive commentary and social media activity.

This set of characteristics has led to volatile stock in the most famous company, Tesla, founded and led by Elon Musk. With regard to such volatility, the start of this week is no exception.

Tesla stock is currently nosediving and has reached a low point of $162.20 by March 14. At the close of the US trading session on Friday, March 15, Tesla stock had retrieved some of the losses and rested at the mid-$163 range, however, this represents a mere slowing down of the plunging of Tesla stock prices because ever since the beginning of this month, Tesla stock has been depreciating at a considerable rate.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/gt-tesla-stock-hits-a-low-point-as-musk-sues-openai-is-this-year-a-total-write-off/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 18, 2024, 08:40:45 PM
US Dollar Shows Record Weekly Gain Since Mid-January
(https://i.imgur.com/Ot4twlF.jpeg)

The US dollar strengthened on Friday ahead of a series of highly anticipated central bank meetings next week, including the US Federal Reserve. The dollar rose 1.3% for the week, its biggest gain since mid-January, after a mixed batch of data showed the U.S. economy remained resilient. That suggests the Federal Reserve could keep interest rates high for longer or reduce its planned number of rate cuts this year. Data on Friday showed a strong US manufacturing sector, with output rebounding 0.8% last month after a downwardly revised 1.1% decline in the previous month. The University of Michigan's preliminary overall consumer sentiment index for the month was 76.5, down from a final reading of 76.9 in February. The Fed's measure of annual inflation expectations remained unchanged at 3.0% in March. The five-year inflation forecast also remained stable at 2.9% for the fourth month in a row, according to the survey. The US Federal Reserve meeting will take place on Wednesday and analysts do not expect officials to make changes to monetary policy, but expect to receive forecasts for borrowing costs for the current year. The market continues to price in at least three 25 basis point interest rate cuts before the end of 2024, the first of which could come in June.

EUR/USD
(https://i.imgur.com/95Q6t1m.png)

The EUR/USD pair shows mixed dynamics, remaining close to 1.0885. Immediate resistance can be seen at 1.0899, a break higher could trigger a move towards 1.0963. On the downside, immediate support is seen at 1.0872, a break below could take the pair towards 1.0840.

Market activity remains subdued at the beginning of the week as traders are in no hurry to open positions in anticipation of the emergence of new drivers. Today the eurozone will publish February inflation statistics. The forecasts do not assume any changes in the consumer price index compared to previous data. On Thursday, March 21, trading participants will evaluate March data on business activity in the eurozone, as well as the ECB's monthly economic report, which may clarify the prospects for the regulator's monetary policy for the current year. Forecasts for business activity indices suggest an increase in the indicator from 46.5 points to 47.0 points in the manufacturing sector and from 50.2 points to 50.5 points in the services sector.

Technical analysis of EUR/USD shows that a new downward channel has formed based on last week’s lows. Now the price is in the middle of the channel and may continue to decline.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/ru-us-dollar-shows-record-weekly-gain-since-mid-january/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 19, 2024, 11:08:38 AM
Bank of Japan Ends the Era of Negative Interest Rates
(https://i.imgur.com/hPghsQE.jpeg)

The Bank of Japan has not raised interest rates for 17 years. For 8 years, it was in the negative zone.

But today there was a dramatic shift in monetary policy — the Bank of Japan announced a decision to increase the interest rate from -0.1% to 0.1%.

The central bank also abandoned yield curve control (YCC), a policy that had been in place since 2016 and capped long-term interest rates near zero.

Considering the scale of the decisions taken, the reaction of the yen exchange rate relative to other currencies turned out to be moderate. This is because the plans of the Bank of Japan have been discussed for a long time, including in official sources of information. Therefore, it is acceptable to assume that participants in the currency markets have already laid down the probability of today's event.

In fact, the yen has weakened as a result, but this may only be an initial reaction in which markets are reassessing the impact of the Bank of Japan's decision over a range of short-term to long-term horizons.

(https://i.imgur.com/9QWG9Dt.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-bank-of-japan-ends-the-era-of-negative-interest-rates/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 19, 2024, 12:53:27 PM
The Dollar Strengthens in Anticipation of the Fed's Rate Decision
(https://i.imgur.com/dlSl62J.jpeg)

The current five-day period is as full as possible with important fundamental data. This morning, a meeting of the Bank of Japan and the RBA took place. Tomorrow, the Fed will announce its decision on the rate, and on Thursday, market participants expect a verdict from the Bank of England. Decisions by officials may determine the pricing of major currency pairs in the coming months. After all, most currency pairs have been trading in narrow flat corridors for a long time, and an increase in volatility can lead to the start of new medium-term trends.

GBP/USD
(https://i.imgur.com/clYBg38.png)

A week ago, pound buyers managed to update the high of December last year at 1.2830. The price almost reached 1.2900, but the pound bulls failed to continue the upward movement and test the psychological resistance level at 1.3000. The pullback from 1.2900 contributed to the formation of a reversal combination for selling bearish harami on the w1 timeframe. Technical analysis of GBP/USD shows that if this formation continues, the price may decline to recent extremes at 1.2530-1.2500. We can consider cancelling the downward scenario if we confidently consolidate above 1.2900.

Tomorrow, pay attention to the release of data on the consumer price index in the UK for February. At 12:00 GMT+3, the housing price index for the past month will be released.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/ru-the-dollar-strengthens-in-anticipation-of-the-feds-rate-decision/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 19, 2024, 12:56:30 PM
A Yen For Volatility: US Dollar Surges as Japan Ends 8 Years of Negative Rates
(https://i.imgur.com/DNIPSfd.jpeg)

Eight long years have passed since the Bank of Japan introduced its controversial yet pioneering attempt to encourage spending in what has become an ultra-conservative economy, which has experienced a sustained period of stagnation.

In 2016, Japan's central bankers decided to introduce negative interest rates, a term which refers to the maintaining of artificially low interest rates in order to encourage businesses and private individuals to borrow money and therefore spend, which would in turn increase the size of the Japanese economy and result in economic growth.

During that eight-year period, times have not been easy in Japan with regard to its national economic situation, and despite the country having not invoked any lockdowns or restrictions in the way that many Western nations did four years ago and a longstanding series of challenges faced the Japanese fiscal situation.

Over the course of time, Japan's demographics have changed, and it has the longest life expectancy in the world; therefore, a large proportion of retired people and a conservative younger generation have appeared to save money rather than spend or invest it.

Many analyses consider that the negative interest rate policy was invoked to encourage such people to withdraw their savings from bank accounts and either spend it or invest it in other areas, such as property or business ventures.

Just six months after the introduction of the policy in 2016, the Japanese economy had not grown, and in some reports there are opinions which state that Japan's authorities can now look back on 25 years of failed economic stimulus attempts.

That is a harsh criticism, however it appears that Japan's central bank has given up on the most recent one and in a landmark decision has today put an end to eight years of negative interest rates.

This means a return to standard market rates, and the result in the currency markets is noticeable.

The US dollar has made gains against the Japanese Yen during today's trading session, beginning with the Asian market.

The USDJPY pair is now trading at 150.424 Yen to the US Dollar, which puts it back at the high point it was at when March began.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/gt-a-yen-for-volatility-us-dollar-surges-as-japan-ends-8-years-of-negative-rates/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 20, 2024, 07:32:20 AM
Market Analysis: EUR/USD Dips Again, USD/JPY Rallies Above 151
(https://i.imgur.com/r4FneUr.jpeg)

EUR/USD started another decline from the 1.0960 resistance. USD/JPY surged and broke the 151.00 resistance zone.

Important Takeaways for EUR/USD and USD/JPY Analysis Today


EUR/USD Technical Analysis
(https://i.imgur.com/Qg97UFp.png)

On the hourly chart of EUR/USD at FXOpen, the pair struggled to clear the 1.0960 resistance zone. The Euro started a fresh decline and traded below the 1.0900 support zone against the US Dollar.

The pair even declined below 1.0870 and tested the 1.0835 zone. A low was formed near 1.0834 and the pair is now correcting losses. On the upside, the pair is now facing resistance near the 50% Fib retracement level of the recent decline from the 1.0906 swing high to the 1.0834 low at 1.0870.

There is also a key bearish trend line forming with resistance at 1.0870. The next key resistance is near the 76.4% Fib retracement level of the recent decline from the 1.0906 swing high to the 1.0834 low at 1.0890.

The main resistance is 1.0905. A clear move above the 1.0905 level could send the pair toward the 1.0960 resistance. An upside break above 1.0960 could set the pace for another increase. In the stated case, the pair might rise toward 1.1020.

If not, the pair might resume its decline. The first major support on the EUR/USD chart is near 1.0835. The next key support is at 1.0820. If there is a downside break below 1.0820, the pair could drop toward 1.0785. The next support is near 1.0750, below which the pair could start a major decline.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-eur-usd-dips-again-usd-jpy-rallies-above-151/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 20, 2024, 11:50:52 AM
Correction in Crypto Markets: BTC/USD Rate Drops to $60,000
(https://i.imgur.com/ENFPI2W.jpeg)

On March 18, we wrote that bears became more active near the $70,000 level.

As the BTC/USD chart shows, today the price of Bitcoin is already close to the psychological level of USD 60k, while the price of Ethereum is close to USD 3,000.

According to MarketWatch, experts consider the decline to be a correction that is “long overdue” as part of an upward trend. According to Fundstrat, Monday saw net outflows from BTC ETFs for the first time since March 1, amounting to about $154.3 million.

What's next?

From a technical analysis point of view, the price of Bitcoin, given an increase of approximately 90% from point A (around USD 38.8k) to point B (around USD 73.4k), a normal correction of 50% indicates the prospect of a decline to the area of USD 56.1k.

(https://i.imgur.com/hC6uYtj.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-correction-in-crypto-markets-btc-usd-rate-drops-to-60-000/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 20, 2024, 11:54:42 AM
TSLA analysis: Price Returns to Above the $170 Level, But for How Long?
(https://i.imgur.com/UtIpNVv.jpeg)

After forming a low of the year on March 14, the TSLA share price managed to rise above the USD 170 level — investors reacted positively to Tesla’s decision to increase prices for electric vehicles in the US and Europe.

However, the TSLA stock market remains under pressure:
the TSLA price performs noticeably worse than the S&P 500 index;
the price forms a downward channel (shown in red);
Goldman Sachs analysts cut their forecast for Tesla shares to USD 190 from USD 220 for the next 12 months due to problems with production and sales.

Yahoo writes that investors are not happy with Musk's attitude. The fall in Tesla shares could quickly stop if the company gets a “real CEO” or Musk changes his position and returns to work and positively promoting the brand.

What is the market outlook?

(https://i.imgur.com/j3mv0Fd.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-tsla-analysis-price-returns-to-above-the-170-level-but-for-how-long/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 21, 2024, 12:35:26 PM
The price of the S&P 500 set a historical record amid news from the Fed
(https://i.imgur.com/CykvuzI.jpeg)

On March 14, we wrote: “The US500 stock index market is showing signs of positivity, indicating that an attempt to overcome the resistance of 5,200 points with a new record high may be made in the near future.” Yesterday's event created the momentum that allowed the bulls to do this.

On Wednesday evening it became known that it was decided to keep the interest rate at 5.5% in the US — this was expected. What market participants paid more attention to was the dovish tone of the Fed. Thus, it became known that by the end of 2024 there may be 3 consecutive rate cuts.

According to Jerome Powell:
→ recent inflation data turned out to be hotter than expected;
→ however, “in fact, the overall story has not changed, it is a gradual decline in inflation along a somewhat bumpy road.”

Thus, fears associated with a longer period of tight monetary policy have been dispelled. As a result, the US dollar fell in price against a number of currencies, and the US stock market index S&P 500 soared to a new historical high around the level of 5,250.

(https://i.imgur.com/WgILDBN.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-the-price-of-the-s-p-500-set-a-historical-record-amid-news-from-the-fed/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 21, 2024, 12:40:36 PM
USD/CHF Analysis: SNB Decision Breaks Multi-month Trend
(https://i.imgur.com/6yn9D0d.jpeg)

According to Reuters, on the sidelines of the World Economic Forum in Davos in January, the head of the Swiss National Bank (SNB) Thomas Jordan told the Swiss press that the appreciation of the franc creates problems for exporters. Thus, indicating intentions to weaken the CHF.

His words in January seem to be in line with how events are developing — the franc has weakened against the US dollar by more than 6% since the start of the year.

Moreover, today, quite unexpectedly, the Swiss National Bank decided to lower the interest rate: actual = 1.50%, forecast = 1.75%, previous value = 1.75%.

The result of the decision today was a sharp weakening of the franc against other currencies, including the US dollar.

(https://i.imgur.com/bRyRELX.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-usd-chf-analysis-snb-decision-breaks-multi-month-trend/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 21, 2024, 03:52:01 PM
The Yen and European Currencies Strengthen after the Fed Meeting
(https://i.imgur.com/F3RXQrp.jpeg)

Yesterday's meeting of the US Federal Reserve disappointed dollar buyers. The rate remained at the same level as expected (5.25–5.50%). However, according to the updated FOMC forecast, it will be reduced three times this year by 0.25%, in contrast to four in the December forecast. The 2025 forecast also shows fewer expectations for rate cuts, just three. Naturally, investors' disappointment with this turn of events resulted in sales of the American currency in almost all directions. Thus, the US dollar/yen currency pair rebounded from recent highs at 151.80 and is currently trading below 151.00, the pound/US dollar retested 1.2800, and euro/US dollar buyers managed to strengthen the pair above 1.0900.

GBP/USD
(https://i.imgur.com/rHaYBo8.png)

Weak data on inflation and producer price index in the UK for February, published yesterday, led to the price falling below 1.2680, but by the evening, pound buyers managed to win back losses and test 1.2800. At the same time, today the pair faces an equally important day, rich in foundations.

A meeting of the Bank of England is scheduled at 15:00 GMT+3, at which a decision on the base interest rate will be made. Analysts assume that the rate will remain at the same level (5.25%). What is important for market participants will be the number of votes of committee members for a rate reduction this year. If the number of officials who believe that the rate should be reduced at the next BoE meetings is more than one, the pound/US dollar pair may decline to 1.2700-1.2600. Otherwise, the price growth on the GBP/USD chart may resume in the direction of 1.3000-1.2900.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/ru-the-yen-and-european-currencies-strengthen-after-the-fed-meeting/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 22, 2024, 09:55:45 AM
Market Analysis: AUD/USD and NZD/USD Signal More Losses
(https://i.imgur.com/bUkepLi.jpeg)

AUD/USD declined below the 0.6575 and 0.6550 support levels. NZD/USD is also moving lower and might trade below the 0.6000 zone.

Important Takeaways for AUD/USD and NZD/USD Analysis Today


AUD/USD Technical Analysis
(https://i.imgur.com/yEbO4hA.png)

On the hourly chart of AUD/USD at FXOpen, the pair struggled to clear the 0.6635 zone. The Aussie Dollar started a fresh decline below the 0.6600 support against the US Dollar.

The pair even settled below 0.6575 and the 50-hour simple moving average. There was a clear move below the 50% Fib retracement level of the upward move from the 0.6504 swing low to the 0.6634 high. Moreover, there was a break below a connecting bullish trend line with support at 0.6570.

The pair is now trading below the 76.4% Fib retracement level of the upward move from the 0.6504 swing low to the 0.6634 high. On the downside, initial support is near the 0.6520 zone.

The next support sits at 0.6505. If there is a downside break below 0.6505, the pair could extend its decline. The next support could be 0.6455. Any more losses might send the pair toward the 0.6420 support.

On the upside, an immediate resistance is near the 0.6550 level. The next major resistance is near 0.6575, above which the price could rise toward 0.6635. Any more gains might send the pair toward 0.6700.

A close above the 0.6700 level could start another steady increase in the near term. The next major resistance on the AUD/USD chart could be 0.6780.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-aud-usd-and-nzd-usd-signal-more-losses-2/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 22, 2024, 12:16:51 PM
AAPL Share Price Falls More Than 4% after Antitrust Lawsuit
(https://i.imgur.com/50G74yx.jpeg)

Yesterday, the Department of Justice filed an antitrust lawsuit against Apple, alleging that the company has established a monopoly with the iPhone, which has harmed consumers, developers and competitors.

“Each step in Apple's course of conduct built and reinforced the moat around its smartphone monopoly,” the government said in the 88-page lawsuit.

The result of news of the lawsuit was a sharp decline in Apple's share price by more than 4%. This is a serious blow to stocks that are already underperforming the broader market. As confirmation, we note that yesterday, the ratio of the S&P 500 index to the AAPL share price set a maximum since November 2021.

The chart for AAPL stock shows an increasingly bearish picture:

(https://i.imgur.com/9ek2StJ.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-aapl-share-price-falls-more-than-4-after-antitrust-lawsuit/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 22, 2024, 12:21:24 PM
GBP/USD Price Falls to 1.26 after Bank of England Decision
(https://i.imgur.com/kZY0UvR.jpeg)

Yesterday, the GBP/USD market experienced a day of intense volatility due to a number of news items. According to Trading Economics:

→ UK retail sales were flat last month after a strong rise of 3.6% in January, contrasting with market expectations of a 0.3% decline.

→ The Bank of England decided to leave interest rates unchanged. However, its head Andrew Bailey hinted at a potential reduction in interest rates. He noted positive indicators of lower inflation but stressed the need for greater confidence in managing price pressures.

Thus, a clearer prospect of easing monetary policy in the UK (which, however, is relevant for many countries) has become a driver for the weakening of the British pound.

(https://i.imgur.com/CzOrSyQ.png)

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG (https://fxopen.com/blog/en/oa-gbp-usd-price-falls-to-1-26-after-bank-of-england-decision/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 22, 2024, 07:36:34 PM
Watch FXOpen's 18 - 22 March Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: S&P500, USD, SNB, TSLA

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of  FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=nBI7CIic9rI/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/KMEi9Gr.jpeg) (https://www.youtube.com/watch?v=nBI7CIic9rI/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)


Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 25, 2024, 12:22:40 PM
Bitcoin Price Recovered over the Weekend, But Market Anxiety Remains
(https://i.imgur.com/YdnHO8y.jpeg)

From the point of view of technical analysis of BTC/USD, on Friday evening the price of Bitcoin was near the lower boundary of the ascending channel (shown in blue). This was alarming as it indicated that the market action could result in a weekly bearish candle forming with the price of BTC down by around 5% — something that hasn't happened since August of last year.

However, this did not happen, as the price recovered over the weekend, forming rebounds from the lower border of the channel. The lower shadows of the candles are a sign of demand forces. Moreover, the bulls have broken through the downward trend line (shown in black). Will the bulls be able to return the price of Bitcoin to an upward trajectory within the specified trend?

Doubts remain.

→ Bitcoin “still looks overbought,” JPMorgan strategists warned, predicting a decline to USD 42k.

(https://i.imgur.com/HgrVnBp.jpeg)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-bitcoin-price-recovered-over-the-weekend-but-market-anxiety-remains/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 25, 2024, 02:32:50 PM
Big in Japan: Several Years of Failed Stimulus Ends, But Stocks Go Up!
(https://i.imgur.com/BMU6fGz.png)

Japan's notoriously conservative approach to business practices combined with a world renowned reputation for engineering excellence has been a winning combination for the island nation for over 60 years.

A relatively small country was able to successfully market a range of products in many sectors ranging from electronic goods to automobiles to a worldwide audience to the extent that Japanese corporations are now global giants with head offices in various countries across the world and the names of these corporations household names in all continents.

An incredible attention to detail, highly educated population and unfaltering work ethic transformed Japan into the ultra-sophisticated nation that it is today, however perhaps surprisingly this commercial dominance has not always equaled a world-beating national economy.

Over recent years, the Japanese Yen has been subject to various periods of volatility, and Japanese stocks, once the absolute pinnacle of economic success during the 'Yuppie Years' of the 1980s when there was no internet and heavy manufacturing companies and property development giants were the largest companies in the world.

Since the rise of the Silicon Valley tech giants, all of which are a creation of the Internet revolution, however, Japan's indices have been far less of a talking point among traders and investors of the stocks of large companies as the absolute dominance of the 'Magnificent 7' and the halo effect they have created around other internet-based companies, software firms and e-commerce tours de force has changed the entire focus from traditional bricks and mortar companies toward those whose products are in the ether.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/gt-big-in-japan-several-years-of-failed-stimulus-ends-but-stocks-go-up/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 26, 2024, 11:19:44 AM
USD/JPY Price Analysis: Consolidation ahead of US News
(https://i.imgur.com/kQR4QmX.jpeg)

This morning, news about inflation in Japan was published. It did not bring any surprises — inflation in Japan is gradually weakening as expected. Core CPI in annual terms: actual = 2.3%, forecast = 2.5%, a month ago = 2.6%, a year ago = 3.0%.

We also note that the official position is aimed at preventing further weakening of the yen, as the USD/JPY price has risen more than 7% since the beginning of 2024 — very close to a 32-year high. Thus, Japanese Deputy Finance Minister for Economic Affairs Masato Kanda yesterday warned that the current weakening of the yen does not correspond to fundamental indicators and is clearly caused by speculation. He concluded that the authorities would take appropriate measures against excessive fluctuations.

However, neither verbal interventions nor the publication of Japanese Core CPI values led to strong fluctuations in the USD/JPY market. Why so?

From a fundamental analysis point of view, market participants are keeping their focus on the publication of Core PCE Price Index values in the US, as well as the Fed Chairman's speech — both events are scheduled for Friday (at 15:30 and 18:30 GMT+3, respectively).

From a technical analysis point of view, the market stabilization is quite natural, since the USD/JPY price today is near the median line of the ascending channel (shown in blue), which describes the trajectory of 2024. The market seems to be cooling down after the RSI indicated it was overbought on March 20th.

It is the events of Friday that can bring the market out of the current equilibrium state (despite the fact that Friday is a day off in many countries, volatility can be high).

(https://i.imgur.com/GUtL9Wr.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-usd-jpy-price-analysis-consolidation-ahead-of-us-news/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 26, 2024, 03:48:09 PM
The Spacs Are Back! NASDAQ on A High as Trump's Social Media Co Goes Public
(https://i.imgur.com/Jb9RvpS.jpeg)

It seems as though the sensationalism that surrounded the controversial SPAC listings, which suddenly found their way onto the technology-friendly NASDAQ exchange in 2021, was a long time ago.

Back at the beginning of this decade, many aspects of business and ways of life that had remained similar for a long period of time changed beyond recognition, and one of them was the admission of 'blank cheque' companies onto the NASDAQ exchange in the form of SPAC entities, with SPAC standing for Special Purchase Acquisition Company.

This method of suddenly going from a start-up status to multi-billion dollar publicly traded company within almost no time and with the ability to bypass much of the criteria required for public listing on major exchanges gave rise to the sudden influx of a number of previously unknown entities which had hardly any market share in their industry sector, yet were able to list their stock publicly for millions, sometimes billions, of dollars.

That era has passed, and many of those firms have experienced severe depreciation of their stock ever since, which has had some degree of effect on the volatility in the NASDAQ index over the tech stock doldrums the ensuing year.

Now, however, with the NASDAQ index flying high and investor appetite for tech stocks well and truly back on track, there is another interesting dynamic which has brought the concept of SPAC listings back into the public arena.

Today, the NASDAQ index was trading at 18,398 at 9.30 am UK time, which is another increment on the steady upward direction the index has been building upon all of this year so far since rebounding back from a low point of 14,127 in late November last year.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/gt-the-spacs-are-back-nasdaq-on-a-high-as-trumps-social-media-co-goes-public/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 26, 2024, 03:51:39 PM
The US Currency Corrects after Recent Growth
(https://i.imgur.com/S61mKUd.jpeg)

The incoming fundamental data of the past five-day period contributed to the strengthening of the American currency in almost all major pairs. Thus, the pound/US dollar currency pair lost more than 200 pp over several trading sessions, the euro/US dollar pair retested 1.0800, and buyers of the USD/JPY pair managed to keep the price above 151.00.

GBP/USD
(https://i.imgur.com/gPdUoCF.png)

The decision of British officials to leave the base interest rate at the same level did not contribute to the strengthening of the pound/US dollar pair. And the hint from the head of the Bank of England about a possible rate cut at the next meeting led to sharp losses in the pair and a test at the price of the important support level of 1.2600. At the moment, the pair is consolidating just above the mentioned mark. In the case of a positive fundamental background from the UK, the price may correct to 1.2800-1.2740. If the downtrend resumes, the price on the gbp/usd chart may retest 1.2570.

Tomorrow at 13:30 GMT+3, we are waiting for the publication of the minutes of the meeting of the Bank of England Financial Policy Committee. A little later, the CBI retail sales index will be published.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/ru-the-us-currency-corrects-after-recent-growth/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 27, 2024, 09:15:44 AM
Market Analysis: GBP/USD Dives While USD/CAD Gains Bullish Pace
(https://i.imgur.com/lU1iHmD.jpeg)

GBP/USD declined below the 1.2665 support zone. USD/CAD is rising and might aim for more gains above the 1.3610 resistance.

Important Takeaways for GBP/USD and USD/CAD Analysis Today


GBP/USD Technical Analysis
(https://i.imgur.com/mdP7Ek8.png)

On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2800 zone. The British Pound traded below the 1.2690 support to move into further a bearish zone against the US Dollar.

The pair even traded below 1.2665 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2580 level. A low was formed at 1.2575 and the pair recently attempted a recovery wave. The pair climbed above the 1.2600 level.

It cleared the 23.6% Fib retracement level of the downward move from the 1.2803 swing high to the 1.2575 low. However, the bears were active near 1.2665 and pushed the pair lower again.

There was a break below a key rising channel with support at 1.2630. Initial support on the GBP/USD chart sits at 1.2600. The next major support sits at 1.2575, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2500.

Immediate resistance on the upside is near the 1.2665 level. The first major resistance is near the 50% Fib retracement level of the downward move from the 1.2803 swing high to the 1.2575 low at 1.2690.

A close above the 1.2690 resistance might spark a steady upward move. The next major resistance is near the 1.2750. Any more gains could lead the pair toward the 1.2800 resistance in the near term.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-gbp-usd-dives-while-usd-cad-gains-bullish-pace/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 27, 2024, 11:16:46 AM
NIKKEI-225 Analysis Indicates Possibility of Correction from Historically High Levels
(https://i.imgur.com/34Xq0GS.jpeg)

On March 21, the value of the Japanese stock index reached a historical maximum, exceeding the level of 41,100 points. This was facilitated by:

→ Weak yen supporting exporters. It increases the value of profits earned abroad for a large number of companies that sell their products abroad and then convert the profits into yen.
→ Demand for shares of Japanese companies paying dividends. For example, shares of air conditioner manufacturer Daikin Industries rose by 2.82%.

At the same time, the NIKKEI-225 chart signals indicate the likelihood of a correction, since:

→ The price is near the upper border of the ascending channel, from which resistance can be expected.

(https://i.imgur.com/POjuDlq.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-nikkei-225-analysis-indicates-possibility-of-correction-from-historically-high-levels/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 28, 2024, 10:43:11 AM
EUR/USD Analysis: The Price Today Has Set Its Minimum Since the Beginning of March
(https://i.imgur.com/0VTn8n1.jpeg)

As the EUR/USD chart shows at the start of the European session today, the exchange rate has dropped below EUR 1.08 per US dollar.

Tuesday's news contributed to this. According to Nasdaq.com, on March 26, 2024, The Conference Board published a report for March, according to which the CB Consumer Confidence index of consumer confidence dropped sharply: fact = 104.7; forecast = 107.0; previous value = 106.7. Comments followed: “Consumers remain concerned about increased price levels, which dominates the responses. March written responses showed growing concerns about food and gasoline prices.”

As a result, the US dollar strengthened (as shown by arrow No. 1). After all, if the published data give grounds to assess inflation as high, then the Fed’s tough policy may last longer.

(https://i.imgur.com/JJf3Pxn.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-eur-usd-analysis-the-price-today-has-set-its-minimum-since-the-beginning-of-march/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 28, 2024, 12:37:50 PM
Stock Market Analysis: NVDA Losing Leadership?
(https://i.imgur.com/IjE5HEB.jpeg)

Since the start of the week, the S&P-500 Index (US500) is up about 0.58% while NVDA's share price is down about 3.8%. This is a worrying sign for Nvidia stock investors — could it be a sign that NVDA is no longer the market leader?

Dubravko Lakos-Bujas, JPMorgan's chief equity strategist, warned of a potential "surprise" shock to the stock market, Bloomberg reported. He's noticed a trend in recent history where gains in popular momentum stocks like NVDA are often followed by corrections. This situation has repeated itself three times since the 2008 global financial crisis.

“One day this may happen completely unexpectedly. This has happened in the past; we’ve had flash collapses,” Lakos-Bujas said in the webinar. “One large fund starts cutting some positions, a second fund hears this and tries to reposition, a third fund is basically caught off guard, and then, you know, we start to unwind more and more momentum.”

He noted the potential for innovation in artificial intelligence as a major source of surprise, emphasizing that these opportunities are dwindling and risks are growing in the background.

(https://i.imgur.com/AmR1jH4.jpeg)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-stock-market-analysis-nvda-losing-leadership/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 28, 2024, 12:39:11 PM
Commodities and European currencies Test Key Supports
(https://i.imgur.com/EuQvpS1.jpeg)

On the eve of the Easter holidays, the main currency pairs have slightly slowed down the development of the main trends and are consolidating near key ranges, the breakdown of which could provoke a change in the vectors of medium-term movements. Thus, the US dollar/loonie currency pair is trading near 1.3600, euro/US dollar sellers are trying to push through the support at 1.0800, and the pound/US dollar pair is once again testing 1.2600.

USD/CAD
(https://i.imgur.com/iX0TmyW.png)

Fluctuations in the oil market and the Fed’s indecisiveness regarding changing the vector of monetary policy contributed to the strengthening of the USD/CAD pair to recent extremes at 1.3600. If buyers of the pair manage to gain a foothold above the mentioned level, the price on the usd/cad chart may continue to rise in the direction of 1.4000-1.3800. Otherwise, another price test of 1.3400-1.3300 is possible.

Today at 15:30 GMT+3, the publication of Canadian GDP data for January is expected. US GDP data for the fourth quarter will also be published and weekly data on the number of applications for unemployment benefits will be released.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/ru-commodities-and-european-currencies-test-key-supports/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 29, 2024, 09:43:57 AM
Market Analysis: Gold Price and Crude Oil Price Gain Bullish Momentum
(https://i.imgur.com/eOkFIWt.jpeg)

Gold price started a steady increase above the $2,200 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $85.00.

Important Takeaways for Gold and Oil Prices Analysis Today


Gold Price Technical Analysis
(https://i.imgur.com/Bvno2hA.png)

On the hourly chart of Gold at FXOpen, the price found support near the $2,158 zone. The price formed a base and started a fresh increase above the $2,175 level.

There was a decent move above the 50-hour simple moving average and $2,200. The bulls pushed the price above the $2,220 resistance zone. Finally, the bears appeared near $2,235, A high was formed near $2,236.20 and the price is now consolidating gains.

The current price action is positive above the 23.6% Fib retracement level of the upward move from the $2,157 swing low to the $2,236 high. The RSI is still stable near 60 and the price could aim for more gains.

Immediate resistance is near the $2,235 level. The next major resistance is near the $2,240 level. An upside break above the $2,240 resistance could send Gold price toward $2,250. Any more gains may perhaps set the pace for an increase toward the $2,265 level.

Initial support on the downside is near the $2,218 zone. There is also a connecting bullish trend line forming with support near $2,218. If there is a downside break below the $2,218 support, the price might decline further.

In the stated case, the price might drop toward the $2,195 support or the 50% Fib retracement level of the upward move from the $2,157 swing low to the $2,236 high.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-gold-price-and-crude-oil-price-gain-bullish-momentum/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 29, 2024, 09:45:58 AM
DOGE Price Increases by 170% in Less Than 2 Months
(https://i.imgur.com/6Ut69Un.jpeg)

On February 1, 2024, the DOGE/USD rate was = 0.0783. On the last Friday of March, it rose to 0.2150. The rising price means Dogecoin is now the eighth-largest cryptocurrency in the world by market capitalization, overtaking Cardano (ADA) and Avalanche (AVAX) in recent days.

The reason for the positive sentiment is the support of the token from Elon Musk.

As the Independent writes:
→ Rumors have intensified that Elon will integrate DOGE into his social network X (Twitter), which he planned to make “an app for everything.” Musk's other companies, SpaceX and Tesla, already support payments in Dogecoin.
→ According to Elon, Dogecoin has the potential to become the main online currency due to its ease of use and efficiency.
→ The billionaire also said that DOGE could become the official currency on Mars if SpaceX can establish a permanent human colony there.
→ The price of DOGE/USD is also supported by the general bullish trend in the cryptocurrency market.

(https://i.imgur.com/LUuXN7Z.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-doge-price-increases-by-170-in-less-than-2-months/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 29, 2024, 06:11:32 PM
Although UK-100 Index Is Near All-time Highs, UK Economy Slips into Recession
(https://i.imgur.com/08XLgyl.jpeg)

Technically, a national economic recession is defined as two consecutive quarters of contraction, and yesterday's Office for National Statistics data confirmed that this has happened — UK GDP fell in the third and fourth quarters of 2023 by 0.1% and 0.3% respectively.

The Guardian writes that the recession may be deeper than it seems at first glance:
→ Increased government spending (including for the military) masks a deep and persistent decline in production.
→ The economy is shrinking despite population growth;
→ In the fourth quarter of 2023, the deficit widened to £26.3 billion, or 3.9% of GDP, up £5.9 billion from the third quarter.
→ The big problem is the decline in goods exports. Soaring prices for imported raw materials and energy have played a major role in increasing the cost of producing goods in the UK and making it difficult to sell them abroad.

However, the price of the UK-100 index (or FTSE-100) is near all-time highs. This is because the Bank of England may ease monetary policy to avoid worsening the recession. And this will be a positive factor for the development of the top 100 companies whose shares are included in the index — this expectation is included in the current quote.

(https://i.imgur.com/wkvkL79.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-although-uk-100-index-is-near-all-time-highs-uk-economy-slips-into-recession/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on March 30, 2024, 12:25:38 AM
Watch FXOpen's 25 - 29 March Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: NIKKEI-225, USD/JPY, GBP/USD, USD/CAD, Gold

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of  FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=3lbd5VupbuQ/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

HAPPY EASTER!!!

(https://i.imgur.com/vzx8349.jpeg) (https://www.youtube.com/watch?v=3lbd5VupbuQ/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

FXOpen YouTube (https://www.youtube.com/c/FXOpenOfficial/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)


Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 01, 2024, 10:55:45 AM
E-mini S&P-500 Start Quarter at Historic Highs
(https://i.imgur.com/SXLFS4N.jpeg)

On Friday, data from the Personal Consumption Expenditures (PCE) index was published. According to Trading Economics, the PCE price index report showed that inflation is slowing. On a monthly basis, it grew by 0.3% in February, forecast = 0.4%, a month ago = 0.4%.

Following the release of the PCE index, Jerome Powell stated that:
→ the Fed is in no hurry to cut interest rates;
→ the latest PCE inflation data is in line with what the Fed wants to see.

Market participants received a portion of fundamental information positively. And since Friday was a day off on the stock market, the news is taken into account by the price on Monday.

The E-mini S&P-500 opened with a gap this morning, and at a historical peak. The S&P 500 rose 10.2% in the first quarter, its best performance since 2019. The bull run is fueled by both expectations of Fed interest rate cuts and enthusiasm surrounding the adoption of AI.

(https://i.postimg.cc/hvm5PGsP/spx500x.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-e-mini-s-p-500-start-quarter-at-historic-highs/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 02, 2024, 01:27:10 AM
5 Stocks To Consider For April 2024
(https://i.imgur.com/pDCP6D3.jpeg)

As if it were comparable to the blink of an eye, the first quarter of 2024 is now complete.

It would perhaps be fair to consider that this year's first three months were relatively uneventful compared to the undulations of the past few years in which rampant inflation across many Western nations, tech stock volatility, US bank collapses, a need to raise the debt ceiling, and the demise of FTX have punctuated the news.

By contrast, this year began with a steady rebuilding of the fiscal structure, a noticeable acceleration in the value of major stock market indices, and even talk of a reduction in interest rates by central banks across Europe and North America.

As we head into the second quarter of the year, it is earnings season, and the large, publicly listed companies whose stock is listed on the prominent stock exchanges are about to reveal their corporate performance for the beginning of this financial year.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/gt-5-stocks-to-consider-for-april-2024/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 02, 2024, 12:05:12 PM
US Dollar Strengthens after Strong ISM Manufacturing PMI Report
(https://i.imgur.com/VDMRDTM.jpeg)

Yesterday, news was published on the state of the US manufacturing sector, namely the Purchase Manager Index (PMI), which is calculated by The Institute for Supply Management (ISM).

The data turned out to be strong: fact = 50.3, forecast = 48.5, a month earlier = 47.8.

Since readings above 50 indicate manufacturing growth, yesterday's news showed the health of this sector in the US. Consequently, it reduced the pressure on the Fed to cut interest rates.

And since the current tight monetary policy may last longer, the value of the US dollar has increased relative to other financial assets:
→ Regarding currencies. For example, the NZD/USD rate set a minimum of 2024.
→ Regarding cryptocurrencies. The decline in BTC/USD that began yesterday led to the Bitcoin rate dropping to USD 66.5k today.

(https://i.imgur.com/xm0550L.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-us-dollar-strengthens-after-strong-ism-manufacturing-pmi-report/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 02, 2024, 02:56:53 PM
High Hopes for Amazon as Analysts Look at Earnings Call Potential
(https://i.imgur.com/3Yr5X4f.jpeg)

Amazon, one of the most successful e-commerce businesses in the world, entered its 30th year in 2024 with its relatively humble yet ingenious origins as an online bookseller based out of Jeff Bezos' garage in Washington State, a distant memory.

Today's Amazon is completely unrecognizable. A global giant among Silicon Valley's big-cap internet moguls, dominating the internet services and retail delivery sectors in most markets worldwide.

Not resting on its laurels, Amazon, one of the 'Magnificent 7' tech stocks, has been actively sharpening its remit recently, with a commitment to the development of AI being one of the areas of innovation that the company is now heavily invested in.

Amazon's stock has been doing very well so far this year, and when the US market closed yesterday after its first trading day following a long holiday weekend, trading appeared to continue where it left off on Thursday, March 28, which was the final trading day of the first quarter of this year, with Amazon stock being at its highest value since November 2021 when it spiked to just over $183 per share before climbing down shortly afterwards.

The tech stock doldrums of 2022 ensued, and Amazon, despite its evergreen parcel delivery enterprise being its distinguishing factor from other internet and high technology giants, was not immune. The lull in value during that period was sustained, but as investor appetite for tech stocks came back, Amazon began to grow its share price once again.

This year so far, Amazon stock has been one of the top risers, and according to FXOpen pricing, Amazon closed yesterday at a lofty $180.38, which represents the highest point since it began this particular rally on January 9, at which point it was trading at $127.22. That is a considerable increase within the space of just under two months.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/gt-high-hopes-for-amazon-as-analysts-look-at-earnings-call-potential/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 02, 2024, 03:07:33 PM
The Dollar Resumes Growth after the Release of Positive Macroeconomic Statistics
(https://i.imgur.com/iRjN5sV.jpeg)

Weak market volatility associated with the celebration of Catholic Easter and a strong foundation from the United States contributed to a sharp strengthening of the dollar against commodity and European currencies. Thus, the pound/US dollar currency pair is trading below the key support at 1.2600, euro sellers are preparing to test 1.0700, and the US dollar/yen pair is as close as possible to recent extremes at 152.00.

GBP/USD
(https://i.imgur.com/3jszTUR.png)
The data on the US manufacturing business activity index for March published yesterday was at the level of 50.3 points, which significantly exceeded the analysts' forecast of 48.3 points. The released data reduces the likelihood of a reduction in the base interest rate at the next Fed meeting and naturally leads to strengthening of the American currency in almost all directions.

The GBP/USD pair traded between 1.2700 and 1.2600 for about a week. Yesterday, sellers of the pound were stronger than buyers and the pair lost about 100 pp in just a couple of hours. If the current mood in the market continues, the price on the GBP/USD chart may test the low of February of this year at 1.2518. We can consider canceling the downward scenario if we confidently consolidate above 1.2700.

Today at 11:30 GMT+3, we are waiting for data on the volume of consumer lending from the Bank of England for February. Also at the same time, the manufacturing business activity index (PMI) for March will be published.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/ru-the-dollar-resumes-growth-after-the-release-of-positive-macroeconomic-statistics/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 03, 2024, 10:22:34 AM
Gold Price XAU/USD Sets Another All-time High
(https://i.imgur.com/e8dISoL.jpeg)

The XAU/USD gold chart today indicates that the price of the metal has exceeded USD 2,250 per ounce.

Causes:
→ Geopolitical tensions. Military conflicts in Ukraine and the Middle East do not subside, the threat of terrorist attacks is growing, and new hot spots may appear on the world map.
→ Concerns about a new round of inflation due to rising commodity prices.

In both cases, gold acts as a safe-haven asset.

(https://i.imgur.com/vLPsW8v.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-gold-price-xau-usd-sets-another-all-time-high/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 03, 2024, 10:25:41 AM
Market Analysis: EUR/USD Starts Recovery, USD/CHF Could Extend Gains
(https://i.imgur.com/w2TC4P7.jpeg)

EUR/USD is attempting a recovery wave from the 1.0725 zone. USD/CHF climbed higher above 0.9070 and might extend gains in the near term.

Important Takeaways for EUR/USD and USD/CHF Analysis Today


EUR/USD Technical Analysis
(https://i.imgur.com/3hoCvTV.png)
On the hourly chart of EUR/USD at FXOpen, the pair extended the decline below the 1.0785 support zone. The Euro even declined below 1.0750 before the bulls appeared against the US Dollar, as mentioned in the previous analysis.

The pair traded as low as 1.0724 and recently started a recovery wave. There was a move above the 1.0745 resistance zone. Besides, there was a break above a key bearish trend line with resistance at 1.0765.

The bulls pushed the pair above the 50-hour simple moving average and the 50% Fib retracement level of the downward move from the 1.0805 swing high to the 1.0724 low.

Immediate resistance on the EUR/USD chart is near the 1.0785 zone. It is close to the 76.4% Fib retracement level of the downward move from the 1.0805 swing high to the 1.0724 low. The first major resistance is near the 1.0805 level.

An upside break above the 1.0805 level might send the pair toward the 1.0825 resistance. The next major resistance is near the 1.0850 level. Any more gains might open the doors for a move toward the 1.0920 level.

Immediate support on the downside sits at 1.0765. The next major support is the 1.0745 zone. A downside break below the 1.0745 support could send the pair toward the 1.0725 level. Any more losses might send the pair to 1.0650.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-eur-usd-starts-recovery-usd-chf-could-extend-gains/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 03, 2024, 11:09:19 AM
USD/JPY Analysis: Calm Before the Storm?
(https://i.imgur.com/dMs3hqV.jpeg)

The USD/JPY chart today shows that the rate has stabilized at 152 yen per US dollar. But can we say that there is calm in the market?

Hardly.

First, it is important to note that in 2023 there was a sharp reversal of trend around the 152.00 level due to intervention by the Japanese authorities, which supported an excessively weak yen. Therefore, crossing this psychological threshold can serve as a trigger for a new intervention.

Secondly, Reuters writes about a growing volatility premium in the options market, which confirms the growing likelihood of a strong trend in the near future.

(https://i.imgur.com/gScvNak.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-usd-jpy-analysis-calm-before-the-storm/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 04, 2024, 11:34:35 AM
Brent Oil Price Reaches Its Highest Since October 2023.
(https://i.imgur.com/6xaQweM.jpeg)

The Brent oil chart today shows that the price has exceeded USD 89 per barrel — this is the highest level since the end of October 2023.

Reasons for strong demand for oil:
→ The OPEC+ meeting ended this week. Exporting countries maintained their policy of limiting oil production unchanged.
→ Ukrainian drone attacks on oil refineries in Russia.
→ Latest data on the strength of the US economy.

(https://i.imgur.com/4xnOvMZ.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-brent-oil-price-reaches-its-highest-since-october-2023/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 04, 2024, 11:38:28 AM
The US Stock Market Awaits the Publication of NFP And Unemployment Data
(https://i.imgur.com/WANkRpP.jpeg)

Important events of this week for investors and traders in the US stock market could be the employment news, which will be published tomorrow at 15:30 GMT+3:
→ non-Farm Payrolls (NFP) report for March. According to CNN, analysts expect nonfarm payrolls to rise by 192,500 in March. NFP for February was 275,000, according to FactSet.
→ data on the unemployment rate (Unemployment Rate). According to ForexFactory, the unemployment rate is expected to remain unchanged at 3.9%.

The state of the labour market is under close scrutiny by the Fed and could provide valuable insight into the prospects for interest rate cuts. The release of the unemployment rate and NFP numbers for March could be an example of what is called "bad news is good news" on Wall Street. After all, if the data shows a deterioration in the labour market, then this will be an argument for the Fed to lower interest rates, which in turn could lead to an increase in the stock market.

Indeed, according to CNN, Fed Chairman Jerome Powell said last week that a weakening labour market would be a reason to cut interest rates.

(https://i.imgur.com/lhT6ZyB.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-the-us-stock-market-awaits-the-publication-of-nfp-and-unemployment-data/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 05, 2024, 08:33:11 AM
Market Analysis: AUD/USD and NZD/USD Remain In Uptrend
(https://i.imgur.com/3B5xHrz.jpeg)

AUD/USD is correcting gains from the 0.6620 zone. NZD/USD is also moving lower and might attempt a fresh increase from 0.6000.

Important Takeaways for AUD USD and NZD USD Analysis Today

AUD/USD Technical Analysis
(https://i.imgur.com/3jZCn7x.png)
On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from the 0.6480 support. The Aussie Dollar was able to clear the 0.6535 resistance to move into a positive zone against the US Dollar.

There was a close above the 0.6550 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6620 zone. A high was formed near 0.6619 and the pair is now correcting gains.

There was a move below the 0.6600 level. The pair declined below the 23.6% Fib retracement level of the upward move from the 0.6480 swing low to the 0.6619 high. On the downside, initial support is near the 50% Fib retracement level of the upward move from the 0.6480 swing low to the 0.6619 high at 0.6550.

There is also a key bullish trend line forming with support at 0.6550. The next support could be 0.6535. If there is a downside break below the 0.6535 support, the pair could extend its decline toward the 0.6480 level. Any more losses might signal a move toward 0.6440.

On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6580. The first major resistance might be 0.6600. An upside break above the 0.6600 resistance might send the pair further higher.

The next major resistance is near the 0.6620 level. Any more gains could clear the path for a move toward the 0.6650 resistance zone.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-aud-usd-and-nzd-usd-remain-in-uptrend/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 05, 2024, 12:45:15 PM
TSLA Analysis: Price Recovers after Disastrous Report
(https://i.imgur.com/qsbJDJV.jpeg)

We previously wrote that lower vehicle deliveries could lower TSLA's stock price.

And as it became known on Tuesday, Tesla, led by Elon Musk, delivered just 386,810 cars in the first three months of 2024 - 14% below analysts' forecasts, according to Bloomberg. As a result, Tesla shares fell 4.9% that day, extending their 2024 decline to 33%, the worst performance in the Nasdaq 100 Index.

What is the market outlook?

Bullish arguments:
→ After a strong disappointment on Tuesday, the price of TSLA showed signs of stability on Wednesday and Thursday. Since these were bullish candles, and the market was recovering despite the non-bearish gap on Tuesday, this can be interpreted as a sign of demand.
→ From the point of view of technical analysis, the market is supported by the lower border of the downward channel (shown in red). The price forms rebounds from this border, as shown by the arrows.
→ Bloomberg writes about a decrease in the number of short positions after the report on Tuesday. This could be a sign that short position holders do not see any further decline in the price of TSLA and are taking profits.

Bearish arguments:
→ TSLA price is still in the lower half of the downward channel, despite the bullish sentiment in the stock market.
→ Resistance may come from the level of USD 183 per share and the median line of the descending channel.

(https://i.imgur.com/rAV2yOH.jpeg)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-tsla-analysis-price-recovers-after-disastrous-report/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 06, 2024, 05:34:13 AM
BTC/USD Analysis: Bearish Arguments Become More Convincing
(https://i.imgur.com/OHv5QF1.jpeg)

On March 18, we wrote about the activation of bears near the USD 70,000 level and the likelihood of consolidation forming near this psychological mark.

On March 25, we wrote that anxiety remains in the Bitcoin market.

Technical analysis of the BTC/USD chart with new data on the behavior of Bitcoin prices today relative to the previously designated levels and lines shows that bearish arguments are becoming more convincing:

→ the median line of the ascending channel acted as resistance (shown by the first arrow);
→ the price has formed a consolidation zone (shown in green) with a subsequent bearish exit from it;

(https://i.imgur.com/AvR0HB6.jpeg)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-btc-usd-analysis-bearish-arguments-become-more-convincing/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 06, 2024, 05:43:55 AM
Watch FXOpen's 1 - 5 April Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: US stock market, EUR/USD, Oil, Gold

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of  FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.


Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen. (https://www.youtube.com/watch?v=W-l14CqAXlc/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

(https://i.imgur.com/2AJHEoA.jpeg) (https://www.youtube.com/watch?v=W-l14CqAXlc/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 08, 2024, 12:14:59 PM
FTSE 100's Holy Grail of 8,000 Continues to Be a Pipe Dream
(https://i.postimg.cc/L5c0cdGm/ftse100.jpg)

The British economy has been somewhat of an anomaly over the past few years. In no way did the British authorities limit the liberties and livelihoods of the population to the extent that the North American authorities did during 2020 and 2021, and the nation has far less national debt.

Britain's banking industry is also less notorious for high profile, large scale collapses of long established institutions, and its overall investing mentality is very conservative compared to the gung-ho nature of the United States capital markets and commercial investing culture.

The differences between some of the largest stock markets in the world are also indicators of this differential. The technology-focused NASDAQ exchange in New York is a bastion of volatility and comprises the 'Magnificent 7' Silicon Valley internet companies as well as a raft of startups which suddenly gained multi-billion dollar valuations and entered the public listing arena via SPAC blank cheque companies.

By contrast, Britain's FTSE 100 index, which represents the 100 most highly capitalised companies whose stock is listed on the London Stock Exchange, represents more traditional, bricks and mortar businesses in more 'grey suit' sectors such as transport, construction, energy giants, retail chains and pharmaceuticals.

The FTSE 100 has been very buoyant recently however over the past few weeks, the index stopped short of the much anticipated 8,000 mark, and its performance has been slowly tailing off.

On March 1, the FTSE 100 reached 7,978 points after a month-long rally, which made it look as if 8,000 points was in easy reach, but since the beginning of last month, it has been decreasing in value, today standing at 7,925.4 at 8.30 am as the excitement of the week's trading begins in London.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/gt-ftse-100s-holy-grail-of-8-000-continues-to-be-a-pipe-dream/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 08, 2024, 12:16:22 PM
BTC/USD Analysis: Bitcoin Price Rises Ahead of Halving
(https://i.postimg.cc/Kjn15x5L/btcusd.jpg)

The halving (reduction of block mining rewards) is expected to occur on April 19-20.

Theoretically, Bitcoin mining will become less profitable, leading to a reduction in coin supply. Given unchanged demand, this should drive up the BTC/USD price. Ripple CEO Brad Garlinghouse has forecasted that the cryptocurrency market cap will double by the end of 2024, reaching $5 trillion, with Bitcoin's halving contributing to this growth.

In practice, Bitcoin price is influenced by too many factors to conclusively prove the bullish impact of halving. For instance, looking at history, the last halving occurred on May 11, 2020, and the price increased by approximately 12% in the following week. On the other hand, today's Bitcoin price might already reflect the imminent halving.

Nevertheless, the market currently shows predominantly positive sentiment, as over the weekend, BTC/USD price rose by around 2.5%.

(https://i.postimg.cc/C5V159VK/btcusdx.jpg)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-btc-usd-analysis-bitcoin-price-rises-ahead-of-halving/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 09, 2024, 11:03:50 AM
The Market Is Waiting for Inflation Values in the US
(https://i.imgur.com/aO87q6q.jpeg)

Tomorrow one of the most significant events of the week will take place, which can greatly affect the sentiment of participants in both the currency and stock markets - at 15:30 GMT+3 inflation data will be published, namely: the values of the CPI (Consumer Price Index) and Core indices CPI.

According to ForexFactory, analysts expect the following values:
→ Core consumer price index, excluding food and energy prices, (Core CPI) in monthly terms: forecast = 0.3%, previous value = 0.4%
→ Consumer Price Index (CPI) in monthly terms – similar: forecast = 0.3%, previous value = 0.4%.
→ CPI in annual terms: forecast = 3.4%, previous value = 3.2%.

The Fed's inflation target is 2%. The values that will be published tomorrow may greatly affect market participants' expectations regarding the Fed's monetary policy.

According to the CME FedWatch tool:
→ traders are confident that the Fed will leave the rate unchanged in May;
→ the probability that the Fed will cut rates in June is just over 50%. But if the CPI indicates that inflation is stable, the likelihood will likely decrease.

Minneapolis Fed President Neel Kashkari said last week that a Fed rate cut was not a possible scenario if inflation continued to move sideways. George Lagarias, chief economist at Mazars, told CNBC, "I wouldn't be surprised if we see smaller rate cuts by the end of the year."

(https://i.imgur.com/2doG0Me.jpeg)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-the-market-is-waiting-for-inflation-values-in-the-us/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 09, 2024, 12:12:22 PM
Rate Cut Rhetoric Blunts US Stock Market Performance
(https://i.imgur.com/5vc4CA5.jpeg)

Analysts' speculation regarding the central bank policy within the United States has been very much based on sentiment over the past few months.

A few months ago, a quick glance at the mainstream financial headlines would have been enough to ensure a clear view that 2024 would be a year of reducing interest rates, and commentators and analysts had even made predictions regarding actual times during the year at which rate cuts would take place.

These predictions were scuppered in February when minutes from the Federal Open Markets Committee (FOMC) meeting at the end of January stated that the Federal Reserve Bank would not be reducing interest rates in the early part of this year and was sticking firmly to its conservative policy of working toward a sustainable 2% inflation rate.

That dialogue has resurfaced this morning, this time as a result of the Federal Reserve having maintained its forecast for lowering interest rates three times this year despite not having done so in the first quarter as was expected by so many pundits, but this time, the talk is more focused on whether these will actually go ahead at all.

In Minneapolis, Minnesota, the state Federal Reserve president Neel Kashari commented that the central bank might look to keep interest rates at their current level for the remainder of the year if inflation progress stalls, an interesting remark at the beginning of earnings season for many large publicly listed North American companies.

Some asset managers have written to their clients and advised that they hold the view that the Federal Reserve will not reduce interest rates this year. What will actually happen is still very much open to speculation until any decision is announced by the central bank.

On this point, stock markets across the United States remained flat as US equities concluded yesterday's New York trading session nearly flat, as investors embarked on a significant week poised to include the latest inflation figures, which could influence expectations for interest rate cuts, and the commencement of the earnings season for the first quarter.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/gt-rate-cut-rhetoric-blunts-us-stock-market-performance/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 10, 2024, 05:03:30 PM
Market Analysis: GBP/USD Recovers While EUR/GBP Dips to Support
(https://i.imgur.com/Tmbkqmr.jpeg)

GBP/USD is gaining pace above the 1.2660 resistance. EUR/GBP declined steadily below the 0.8572 and 0.8566 support levels.

Important Takeaways for GBP/USD and EUR/GBP Analysis Today


GBP/USD Technical Analysis
(https://i.imgur.com/ImSIWaf.png)

On the hourly chart of GBP/USD at FXOpen, the pair remained well-bid above the 1.2575 level. The British Pound started a decent increase above the 1.2605 zone against the US Dollar.

The bulls were able to push the pair above the 50-hour simple moving average and 1.2660. The pair even climbed above 1.2700 and traded as high as 1.2709. It is now correcting gains below the 23.6% Fib retracement level of the upward move from the 1.2574 swing low to the 1.2709 high.

On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2675. The next major resistance is near 1.2710.

A close above the 1.2710 resistance zone could open the doors for a move toward 1.2740. Any more gains might send GBP/USD toward 1.2800. On the downside, there is a key support forming near a bullish trend line at 1.2670.

If there is a downside break below 1.2670 and 1.2660, the pair could accelerate lower. The next major support is near the 50% Fib retracement level of the upward move from the 1.2574 swing low to the 1.2709 high at 1.2640.

The next key support is seen near 1.2605, below which the pair could test 1.2575. Any more losses could lead the pair toward the 1.2500 support.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/aj-market-analysis-gbp-usd-recovers-while-eur-gbp-dips-to-support/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 10, 2024, 05:06:26 PM
ADA Drops to Last Place in the Top 10 Cryptocurrencies
(https://i.imgur.com/YHMucze.jpeg)

ADA, the native blockchain token of the Cardano network, has dropped to 10th place among the cryptocurrencies with the largest capitalization. Today, according to CoinMarketCap, the capitalization of Cardano (ADA) is USD 20.7 billion.

On the one hand, this happened due to the success of such competitors as:
→ Dogecoin (DOGE) with a capitalization of USD 27.1 billion, approximately +108% since the beginning of the year;
→ Toncoin (TON) with a capitalization of USD 23.7 billion, approximately +193% since the beginning of the year.

On the other hand, the ADA/USD rate behaves weaker than other cryptocurrencies. Year to date, it has dropped by several percent since January 1, 2024. And this is against the background of a bull market, which should greatly confuse investors.

Will Cardano (ADA) be able to strengthen its position in the top 10 cryptocurrencies?

Bulls' hopes may be tied to the approaching Chang update (expected in the second quarter of 2024), which will implement the concept of a self-governing community on the blockchain by introducing delegate representatives (DReps) and community voting to approve the first draft of the Cardano Constitution.

(https://i.imgur.com/jktUFnT.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-ada-drops-to-last-place-in-the-top-10-cryptocurrencies/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 10, 2024, 05:12:59 PM
NZD/USD Rate Increases after the Decision of the Reserve Bank of New Zealand
(https://i.imgur.com/NyRuI5C.jpeg)

This morning the Reserve Bank of New Zealand (RBNZ) decided to keep interest rates unchanged at 5.5%:

→ the decision to keep the interest rate at this high level is made for the sixth time in a row;

→ the RBNZ said rates should remain high for some time to ensure inflation is contained;

→ this decision was expected - all 25 economists in the Bloomberg survey predicted it.

However, New Zealand's economy is in recession, with GDP contracting in four of the last five quarters — prompting market participants to speculate that the central bank will begin cutting rates in the second half of this year.

The market reaction was a slight strengthening of the New Zealand dollar. Thus, the NZD/USD rate today rose to its April high.

(https://i.imgur.com/0MAusGf.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-nzd-usd-rate-increases-after-the-decision-of-the-reserve-bank-of-new-zealand/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 11, 2024, 12:49:16 PM
The US Dollar Rose Sharply after Inflation Data. When Is Correction Possible?
(https://i.imgur.com/axG1v04.jpeg)

For the second time this year, the US consumer price index turned out to be higher than experts predicted. Thus, in February the figure increased from 3.1% to 3.2%. In March, the consumer price index, exceeding the expectations of economists surveyed by Bloomberg, was at 3.5%. The continued rise in inflation, coupled with a strong labor market, contributed to:

Fed representatives are extremely cautious regarding the future direction of monetary policy;
market participants are lowering expectations of how many quarters of a percent the rate could be cut this year.
As a result of the current situation, European currencies returned to recent lows, and the USD/JPY pair updated its 2022 high.

USD/JPY
(https://i.imgur.com/smjiBpF.png)
US dollar buyers in the USD/JPY pair managed to move above the important support level of 152.00. The price on the USD/JPY chart rose to 153.20, but further pricing of the pair will depend on the actions of the Japanese regulator. Bank of Japan officials have repeatedly stated that near 152.00 they may resort to foreign exchange interventions to support the national currency. With the intervention of the central bank, the pair may correct to the nearest support levels at 152.00-150.00. At the same time, we cannot exclude continued exponential growth in the direction of 155.00-154.00.

Important for USD/JPY pricing will be today's news on the US producer price index for March and weekly data on the number of initial applications for unemployment benefits.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/ru-the-us-dollar-rose-sharply-after-inflation-data-when-is-correction-possible/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 11, 2024, 12:53:06 PM
Inflation Data Sharply Strengthens the US Dollar
(https://i.imgur.com/QNgmL6R.jpeg)

Data on consumer prices and core inflation published yesterday exceeded expectations. According to ForexFactory:

→ Core CPI in monthly terms: actual = 0.4%, expected = 0.3%, a month ago = 0.4%;
→ CPI in annual terms: actual = 3.5%, forecast was = 3.4%, previous value = 3.2% with a target value of 2%.

As a result of the publication of news, market participants' expectations that the Federal Reserve will leave rates unchanged in June have sharply increased. According to the CME FedWatch Tool, before the publication of news about inflation, the probability of this was = 42.6% (that is, the majority believed that there would be a rate cut), then after the publication the probability = 83.0%. This is a dramatic change in sentiment.

Speaking to Bloomberg, former US Treasury Secretary Larry Summers said cutting rates in June would be a dangerous and egregious mistake, adding: "You have to take seriously the possibility that the next rate move will be upwards rather than downward." .

The reaction of financial markets was the strengthening of the US dollar in the context of tight monetary policy, the effect of which will last longer:
→ USD has risen in price in currency pairs — for example, USD/CHF has risen to its maximum in six months;
→ Bitcoin fell in price, but this morning the main cryptocurrency has already recovered from yesterday’s fall;
→ gold tested support at 2,320.

(https://i.imgur.com/QxXClI2.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-inflation-data-sharply-strengthens-the-us-dollar/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Title: Re: Daily Market Analysis By FXOpen
Post by: FXOpen Trader on April 11, 2024, 12:55:29 PM
USD/JPY Rises to Highest Since 1990
(https://i.imgur.com/LaHPTns.jpeg)

This morning the USD/JPY rate is around 153.20 yen per US dollar, which was facilitated by a sharp strengthening of the dollar against the backdrop of news about inflation in the United States. Thus, the yen weakened to levels last seen in mid-1990.

At the same time, an important event occurred — a bullish breakdown of the level of 152 yen per US dollar. This level is special due to the fact that in 2022, the weakening of the exchange rate to 152 yen per US dollar forced the Bank of Japan and the Ministry of Finance to intervene three times, as Reuters writes, to support the yen.

In 2023, it also acted as a barrier to growth. It also held back the market during March 2024 and early April.

But yesterday the level of 152 yen per US dollar did not survive.

(https://i.imgur.com/jARiT8j.png)

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG (https://fxopen.com/blog/en/oa-usd-jpy-rises-to-highest-since-1990/?utm_source=altcoinstalksforum&utm_medium=analysis&utm_campaign=resolve)

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.