Thread: FXOpen News

EUR/USD Struggling While USD/CHF Could Continue Higher

EUR/USD is currently under a lot of pressure and trading below the 1.1100 area. Conversely. USD/CHF is rising and it is likely to continue towards the 0.9725 resistance.
EUR/USD Technical Analysis

In the past few days, the Euro started a steady decline from well above the 1.1150 level against the US Dollar. The EUR/USD pair broke a couple of important supports near 1.1140 and 1.1120 to enter a bearish zone.
Moreover, there was a close below the 1.1120 level and the 50 hourly simple moving average. During the decline, there was a break below a couple of bullish trend lines at 1.1134 and 1.1090 on the hourly chart of EUR/USD.




The pair even broke the 1.1080 support and traded as low as 1.1077 on FXOpen. It is currently consolidating losses near the 1.1080 level.
An initial resistance is near the 1.1088 level and the 23.6% Fib retracement level of the recent decline from the 1.1117 high to 1.1077 low. The first key resistance is near the 1.1100 area and the 50 hourly simple moving average.
Besides, the 50% Fib retracement level of the recent decline from the 1.1117 high to 1.1077 low is also near 1.1100. Therefore, EUR/USD must climb above the 1.1100 resistance area to start a decent recovering in the near term.
If there is a downside break below the 1.1077 low and 1.1075, the pair is likely to accelerate its decline. The next key support is near the 1.1040 level, where the bulls are likely to emerge.

See more on: https://www.fxopen.blog/eur-usd-stru...ntinue-higher/

Gold Price Recovering While Crude Oil Price Plunging

Gold price managed to recover and settled above the $1,550 support area. However, crude oil price declined heavily and it recently broke the $56.00 support area.
Gold Price Technical Analysis


After a steady decline, gold price found support near the $1,532 and $1,535 levels against the US Dollar. As a result, the price started a decent upward move and settled above the $1,550 resistance area.
It even surpassed the $1,560 resistance and the 50 hourly simple moving average. However, the bulls struggled to clear the $1,565 and $1,568 resistance levels.




The price was rejected on two occasions near $1,568 and the recent high was formed near $1,567 on FXOpen. It is currently correcting lower and trading below the $1,562 support.
Besides, there was a break below the 23.6% Fib retracement level of the recent wave from the $1,551 low to $1,567 high. On the downside, the first key support is near the $1,558 level.
Furthermore, the 50% Fib retracement level of the recent wave from the $1,551 low to $1,567 high is also near the $1,559 level and the 50 hourly simple moving average.
More importantly, there is a major bullish trend line forming with support near $1,555 on the hourly chart of gold. Therefore, dips remain well supported on the downside near the $1,558 and $1,555 levels.
The main support is near the $1,550 level, below which gold price might turn bearish and decline towards $1,535. On the upside, there is a strong resistance near $1,567 and $1,568, above which the bulls are likely to aim $1,575 in the near term.

See more on: https://www.fxopen.blog/gold-price-r...rice-plunging/

GBP/USD and GBP/JPY: British Pound Remains At Risk

GBP/USD failed to continue above 1.3150 and started a fresh decline below the 1.3100 support. GBP/JPY is also under pressure and it is likely to continue lower below 142.00.
GBP/USD Technical Analysis

This past week, there was a decent rise in the British Pound above the 1.3060 and 1.3100 resistance levels against the US Dollar. However, the GBP/USD pair struggled to stay above the 1.3150 resistance area.
A high was formed near 1.3172 on FXOpen and recently there was a fresh decline. The pair declined below the 1.3120 and 1.3100 support levels.



Moreover, there was a break below a major bullish trend line with support near 1.3085 on the hourly chart of GBP/USD. The pair even broke the 50% Fib retracement level of the upward move from the 1.3034 low to 1.3172 high.
It is now trading below the 1.3080 level and the 50 hourly simple moving average. Besides, it is currently below the 76.4% Fib retracement level of the upward move from the 1.3034 low to 1.3172 high.
Therefore, there is a risk of more downsides below the 1.3050 level in the near term. An initial support is near the 1.3035 level, below which the pair could even test the 1.3000 support area.
On the upside, an initial resistance is near the 1.3080 level. However, the GBP/USD pair must surpass the 1.3100 resistance area and the 50 hourly SMA to move into a positive zone.
A successful close above 1.3100 could lead the pair towards the 1.3150 resistance. If not, the pair is likely to revisit the 1.3000 zone.

See more on: https://www.fxopen.blog/gbp-usd-and-...mains-at-risk/

EUR/USD And USD/JPY Could Start Decent Recovery

EUR/USD is currently attempting an upside correction from the 1.0998 low, but it is facing hurdles near 1.1020. Similarly, USD/JPY must surpass 109.25 to start a decent recovery in the near term.

EUR/USD Technical Analysis

In the past few days, the Euro declined heavily below the 1.1085 and 1.1050 support levels against the US Dollar. The EUR/USD pair broke the 1.1040 support level to enter a bearish zone.
Moreover, there was a close below the 1.1040 level and the 50 hourly simple moving average. A low is formed at 1.0998 on FXOpen and the pair is currently correcting higher.




It broke the 1.1010 level, plus the 23.6% Fib retracement level of the recent decline from the 1.1061 high to 1.0998 low. Moreover, there was a break above a key bearish trend line with resistance near 1.1018 on the hourly chart of EUR/USD.
However, the pair is currently struggling to clear the 1.1020 and 1.1025 resistance levels. Besides, the 50 hourly SMA is protecting gains. Therefore, a clear break above the 1.1025 level is needed for more upsides.
The next major resistance is near the 1.1040 level. An intermediate resistance is the 50% Fib retracement level of the recent decline from the 1.1061 high to 1.0998 low.
If the bulls are able to push the pair above the 1.1040 level, there are chances of decent gains towards the 1.1060 and 1.1080 levels.
On the downside, the 1.0000 support area holds the key. If there is a daily close below 1.1000, EUR/USD is likely to continue lower towards the 1.0960 support level in the near term.

See more here: https://www.fxopen.blog/eur-usd-and-...cent-recovery/

AUD/USD And NZD/USD Likely To Continue Lower


AUD/USD remained in a bearish zone and broke the 0.6750 support area. NZD/USD is also declining and it is likely to continue lower below the 0.6480 support area.
AUD/USD Technical Analysis

After forming a top near the 0.6880 level, the Aussie Dollar started a strong decline against the US Dollar. The AUD/USD pair broke many supports near 0.6820 and 0.6800 to enter a bearish zone.
Moreover, there was a break below the 0.6750 support and the 50 hourly simple moving average. The recent decline was such that the pair traded close to the 0.6700 support area.




A low is formed near 0.6700 and the pair is currently consolidating losses. It tested the 38.2% Fib retracement level of the recent decline from the 0.6762 high to 0.6700 low.
However, there are many hurdles for the bulls on the upside near the 0.6725 and 0.6730 levels. Moreover, there is a major bearish trend line forming with resistance near 0.6725 on the hourly chart of AUD/USD.
The trend line is close to the 50% Fib retracement level of the recent decline from the 0.6762 high to 0.6700 low. Therefore, the pair must break the trend line and settle above 0.6730 to start a decent recovery.
The next key resistance is near 0.6750, above which the pair might correct towards the 0.6800 resistance. Conversely, the pair is likely to continue lower below the 0.6700 support.
The next support on the downside is near the 0.6680 level, below which there is a risk of more losses towards 0.6650 or 0.6620 in the near term.

See more: https://www.fxopen.blog/aud-usd-and-...ontinue-lower/

FXOpen Returned Margin Requirements for GBP Pairs

Dear Traders,
Please note that FXOpen has returned the margin requirements for GBP pairs to their normal value, i.e. increased to a maximum value of 1 to 500. We recommend considering this information in your trading activity.
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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

FXOpen Launches Instant Bank Transfers in Malaysia and Thailand

Dear clients,
FXOpen is pleased to announce that we've added a new method of depositing and withdrawing funds. Clients from Malaysia and Thailand can now carry out money transactions via Instant Bank Transfers. Instant Bank Transfers are transactions made from an online bank account in a local currency.
To celebrate the launch, clients can deposit for free, paying 0% commission for the first month of use.
More details:

• Currencies: MYR, THB
  
• Payment Processing Time: instant for depositing/ within 1 day for withdrawing
  
• Minimum deposit / withdrawal: 50 MYR / 500 THB
  
• Maximum deposit / withdrawal: 50,000 (MYR/THB).

Learn how to deposit and withdraw via Instant Bank Transfers in our knowledge base.
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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

FXOpen Accepts Payments via AirTM

Dear Traders,
FXOpen is glad to announce a new cutting-edge option for depositing and withdrawing funds via AirTM.
AirTM is a unique blockchain-and-bank-connected digital wallet and peer-to-peer exchange platform founded in 2015. The base AirTM currency is named as AirUSD. To perform any action like buying, selling or exchanging any currencies, you must have AirUSD balance in your account. Find more information here.
Terms of depositing and withdrawing via AirTM

• Currencies: USD;
  
• Payment processing time: during 1 day;
  
• Minimum withdrawal: USD 2;
  
• Maximum deposit: USD 25,000.

Learn how to deposit and withdraw in our knowledge base.
In the first month, all FXOpen clients can deposit their accounts with 0% commission to become familiarized with the product.
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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

GBP/USD and EUR/GBP: British Pound Bulls In Control

GBP/USD started a strong increase above the 1.3100 resistance area and climbed to 1.3200. EUR/GBP is currently correcting higher, but upsides remain capped in the near term.

GBP/USD Technical Analysis

After forming a support base near the 1.2980 level, the British Pound started a strong rise against the US Dollar. As a result, the GBP/USD pair broke many hurdles near 1.3050 and 1.3100 to enter a positive zone.
Moreover, there was a break above the 1.3160 resistance area and the pair settled nicely above the 50 hourly simple moving average. Finally, it climbed above the 1.3200 level and traded as high as 1.3209 on FXOpen.




It is currently correcting lower below the 1.3200 and 1.3180 levels. There was a break below the 23.6% Fib retracement level of the upward move from the 1.3100 low to 1.3209 high.
However, the pair is now trading near the 1.3160 support area. More importantly, there is a connecting bullish trend line forming with support near 1.3135 on the hourly chart of GBP/USD.
The 50% Fib retracement level of the upward move from the 1.3100 low to 1.3209 high is also acting as a support near the 1.3154 level. Therefore, the pair remains well supported above the 1.3120 level.
If it fails to stay above 1.3120 and 1.3100, the bears are likely to take control. On the upside, there are chances of a strong rise above the 1.3180 and 1.3200 levels.
If there is a proper close above the 1.3200 resistance area, GBP/USD bulls are likely to aim another increase towards the 1.3240 and 1.3250 resistance levels.

See more: https://www.fxopen.blog/gbp-usd-and-...ls-in-control/

EUR/USD Diving While USD/CHF Is Showing Positive Signs

EUR/USD failed to continue above the 1.1100 resistance area and decline recently below 1.1070. Conversely. USD/CHF is climbing higher and showing positive signs above 0.9680.
EUR/USD Technical Analysis

This past week, the Euro started a decent recovery above the 1.1040 resistance area against the US Dollar. The EUR/USD pair even broke the 1.1080 resistance area, but it struggled to climb above the 1.1100 resistance area.
A high was formed near 1.1095 on FXOpen and the pair started a fresh decline. It broke the 1.1080 and 1.1070 levels to move into a bearish zone.




Moreover, there was a close below the 1.1050 level and the 50 hourly simple moving average. The pair even traded below the 50% Fib retracement level of the upward move from the 1.0992 low to 1.1095 high.
During the decline, there was a break below a key bullish trend line with support at 1.1052 on the hourly chart of EUR/USD. The pair is now trading near the 1.1030-1.1035 support area.
Besides, the 61.8% Fib retracement level of the upward move from the 1.0992 low to 1.1095 high is also near the 1.1035 level. If there is a downside break below the 1.1035 level, there are chances of a strong decline.
The next major support is near the 1.1015 level, below which the bears are likely to aim a test of 1.0000. On the upside, the 1.1045 level is an initial resistance. The main resistance for EUR/USD is now near the 1.1055 level and the 50 hourly simple moving average.

See more: https://www.fxopen.blog/eur-usd-divi...ositive-signs/