Thread: FXOpen News

EUR/USD Recovering Nicely While USD/JPY Is Sliding


EUR/USD started an upside correction from the 1.0780 support area and recovered above 1.0820. USD/JPY is currently declining, but it is approaching a key support near 109.80.
EUR/USD Technical Analysis



After a major decline, the Euro found support near the 1.0780 and 1.0785 levels against the US Dollar. As a result, the EUR/USD pair started a decent upward move and recovered above the 1.0820 resistance.
Moreover, there was a close above the 1.0840 and the 50 hourly simple moving average. Finally, the pair climbed above the 1.0875 level and traded as high as 1.0890 on FXOpen.






It is currently correcting lower and trading below the 1.0875 level. Besides, there was a break below the 23.6% Fib retracement level of the upward move from the 1.0830 low to 1.0890 high.
However, there are many supports on the downside, starting with 1.0860. More importantly, there is a key bullish trend line forming with support near 1.0855 on the hourly chart of EUR/USD.
The 50% Fib retracement level of the upward move from the 1.0830 low to 1.0890 high is also near the 1.0860 level to provide support. Therefore, dips in EUR/USD are likely to remain supported.
Any further losses could push the pair back into a bearish zone towards the 1.0820 and 1.0800 support levels. Conversely, the pair could bounce back from 1.0860 or 1.0850.
On the upside, an initial resistance is near the 1.0880 level. A clear break above the 1.0880 and 1.0900 levels could open the doors for a larger recovery towards the 1.0950 level.


See more at: https://www.fxopen.blog/eur-usd-reco...py-is-sliding/

FXOpen Launches "Cryptomania" — A New Contest for Demo Accounts


FXOpen is launching "CryptoMania" - a new contest for demo accounts. Anyone can join the competition to test their ability in crypto trading. "CryptoMania" is a unique opportunity not only to gain invaluable trading experience, but also win a prize fund of 3,000 USD. Free participation. Start: March 9, 2020. Registration is open until 22nd March.





Conditions:
Dates: March 9 - April 3, 2020;
Registration: is open now until 22nd March 2020;
Prize fund: 3,000 USD;
Free participation;
Number of winners10;
Account type: competition demo ECN;
Initial deposit: 5,000 USD;
Leverage: 1:10;
Commissions: 0.25 per side, 0.5 per turn;
EAs: allowed;
Locking: allowed;
Lot volume: from 0.10 to 1.00 (maximum 1 lot per order);
Trading instruments: 39 pairs with BTC, ETH, XRP, BCH, ETC, LTC, etc.;
trading platform: MetaTrader 4 (download).


Prize money:
The prize money will be added to your account in any cryptocurrency available with FXOpen at the exchange rate at the moment of prize crediting or in USD.


Please note that 50% of the prize money cannot be withdrawn. It is intended only for trading on Crypto accounts. To get the money, you will have to open a Crypto account open a Crypto account and send the account number to [email protected]. The profit from trading can be withdrawn at any time via any payment system available with FXOpen. You should also remember to comply with the competition rules, violation of which would lead to disqualification.


1st place - 1050 USD (525+525);
2d place - 750 USD (375+375);
3d place - 300 USD (150+150);
4th place - 240 USD (120+120);
5th place - 180 USD (90+90);
6th place - 150 USD (75+75);
7th place - 120 USD (60+60);
8th place - 90 USD (45+45);
9th place - 60 USD (30+30);
10th place - 60 USD (30+30).




See more: https://www.fxopen.com/en/about-us/n...ew-contest-for

AUD/USD And NZD/USD Nosedive Below Key Supports
AUD/USD started a strong decline and traded below the key 0.6600 support area. Similarly, NZD/USD is declining heavily and it could continue to dive below the 0.6250 support.
AUD/USD Technical Analysis

After forming a top near the 0.6700 area, the Aussie Dollar started a major decline below 0.6650 against the US Dollar. The AUD/USD pair even broke the 0.6600 support level to enter a bearish zone.
Moreover, there was a break below the 0.6560 support and the 50 hourly simple moving average. It opened the doors for more losses and the pair traded as low as 0.6527 on FXOpen.






It is currently trading with a strong bearish angle below 0.6550. On the upside, an initial resistance is near the 0.6545 level. Besides, the 23.6% Fib retracement level of the recent decline from the 0.6591 high to 0.6527 low is also near 0.6545.
On the upside, there are a couple of key hurdles seen near the 0.6550 and 0.6555 levels. The 50% Fib retracement level of the recent decline from the 0.6591 high to 0.6527 low is also near 0.6555.
More importantly, is a key bearish trend line forming with resistance near 0.6570 on the hourly chart of AUD/USD. Therefore, it could be very tough for the bulls to start a decent recovery wave above the 0.6550 and 0.6570 levels.
If AUD/USD fails to recover above 0.6550 or 0.6570, there are chances of more downsides. An initial support is near the 0.6525 level, below which there is a risk of a sharp decline. The next major support is seen near the 0.6500 level.


See more: https://www.fxopen.blog/aud-usd-and-...-key-supports/

On March 8th FXOpen Switches its Trading Servers to Summer Time (GMT+3)

On March 8^th, 2020 FXOpen will switch its trading servers 1 hour ahead, from GMT +2
to GMT +3.The change will affect all types of FXOpen trading accounts. In ECN, STP and Micro accounts summer time will take effect starting with the market opening on Monday, March 9^th 2020. In Crypto accounts, where trading is available during the weekend, traders will experience the change immediately after it occurs, on Sunday, March 8^th, 2020.The changing of server time should not impact your open trades or the process of opening, placing, closing and modifying orders. However, keep this in mind when planning your trading and do not forget to adjust the time settings in your Indicators and Expert Advisors.Follow the updates on Facebook, Twitter and Telegram.
FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

GBP/USD Surging While GBP/JPY Could Decline Further


GBP/USD started a strong increase from the 1.2780 support area and jumped above 1.2950. Conversely, GBP/JPY is declining and it could extend losses below 134.00.
GBP/USD Technical Analysis



This past week, the British Pound started a decent recovery wave from the 1.2780 support area against the US Dollar. The GBP/USD pair broke a few important hurdles near 1.2850 and 1.2925 to move into a positive zone.
Moreover, the pair jumped above the 1.3000 resistance and the 50 hourly simple moving average. The upward move was such that the pair spiked towards the 1.3125 level and a new weekly high is formed at 1.3124 on FXOpen.






The pair is currently correcting lower below the 1.3100 level. It broke the 23.6% Fib retracement level of the recent wave from the 1.2990 low to 1.3124 high.
However, there are many supports on the downside, starting with the 1.3058 level. It is close to the 50% Fib retracement level of the recent wave from the 1.2990 low to 1.3124 high.
Moreover, there is a major bullish trend line forming with support near 1.3055 on the hourly chart of GBP/USD. Therefore, the pair is likely to remain well supported on the downside near the 1.3050 area.
On the upside, an initial resistance is near the 1.3100 level. The first main hurdle for the GBP/USD pair is near the 1.3120 level, above which the bulls are likely to aim a target of the 1.3150 level in the near term.


See more : https://www.fxopen.blog/gbp-usd-surg...cline-further/

FXOpen Launches New Accounts - Crypto 10

Dear Traders,FXOpen is pleased to announce the launch of a brand new trading account - Crypto 10, where you can access high leverage, low cost cryptocurrency trading from as little as $10.

Open Crypto 10

Conditions:

• Account currency: USD, EUR, GBP, RUB, JPY;
  
• Minimum deposit: $10 (or equivalent in other currency);
  
• Commission: 0.25% (half-turn);
  
• Leverage: 1:10;
  
• Margin call: 100%;
  
• Stop Out: 50%.

Learn more about our new Crypto 10 accounts in FXOpen knowledge base.
Follow the updates on Facebook, Twitter and Telegram.
FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

EUR/USD Eyeing More Gains While USD/JPY Is Facing Hurdles


EUR/USD followed a strong bullish path above the 1.1200 pivot area and climbed towards 1.1500. USD/JPY is currently recovering higher, but it is facing hurdles near 106.00.
EUR/USD Technical Analysis

In the past few days, the Euro started a steady increase above the 1.1200 and 1.1300 resistance levels against the US Dollar. As a result, the EUR/USD pair even broke the 1.1420 resistance area.
Moreover, there was a break above the 1.1450 level and the pair traded as high as 1.1494 on FXOpen. The pair made a couple of attempts to break the 1.1490 and 1.1500 levels, but it failed.






The last swing high was formed near 1.1478 and the pair recently declined below the 50 hourly simple moving average. The decline was such that the pair spiked below 1.1350 and traded as low as 1.1275.
It is now climbing higher and trading above the 1.1300 level. An initial resistance is near the 23.6% Fib retracement level of the recent decline from the 1.1478 high to 1.1275 low.
Moreover, there is a key bearish trend line forming with resistance near 1.1325 on the hourly chart of EUR/USD. A clear break above the trend line could lead EUR/USD towards the 1.1375 resistance area.
The 50 hourly simple moving average is positioned near 1.1375 along with the 50% Fib retracement level of the recent decline from the 1.1478 high to 1.1275 low.
Therefore, a clear break above the 1.1375 resistance zone won’t be easy. If the pair succeeds, it could climb back towards the 1.1450 and 1.1475 levels. On the downside, the main supports are near 1.1275.


See more: https://www.fxopen.blog/eur-usd-eyei...acing-hurdles/

AUD/USD And NZD/USD Facing Key Hurdles


AUD/USD declined heavily and traded below the key 0.6400 support area. Similarly, NZD/USD declined below 0.6200 and it is currently correcting higher.




AUD/USD Technical Analysis

This past week, the Aussie Dollar topped near the 0.6680 resistance area against the US Dollar. The AUD/USD pair started a fresh decline below the 0.6500 and 0.6400 support levels.
Moreover, there was a close below the 0.6400 support and the 50 hourly simple moving average. It opened the doors for more losses below the 0.6300 level and the pair traded as low as 0.6212 on FXOpen.






It is currently correcting higher and trading above the 0.6250 level. It tested the 23.6% Fib retracement level of the recent drop from the 0.6539 high to 0.6212 low.
On the upside, an initial resistance is near the 0.6320 level. The first major resistance is near the 0.6375 level. There is also a major bearish trend line forming with resistance near 0.6360 on the hourly chart of AUD/USD.
The 50% Fib retracement level of the recent drop from the 0.6539 high to 0.6212 low is also near the 0.6375 level to act as a key hurdle for the bulls.
Therefore, the AUD/USD pair might face a lot of hurdles if it recovers towards the 0.6360 and 0.6375 levels. A successful close above 0.6375 is needed to start a decent increase towards the 0.6500 level.
If AUD/USD fails to recover above 0.6320 or 0.6360, there are chances of more downsides. An initial support is near the 0.6250 level, below which the bears are likely to aim a test of the 0.6200 level.


See more: https://www.fxopen.blog/aud-usd-and-...key-hurdles-3/

GBP/USD and EUR/GBP: British Pound Struggling To Recover
GBP/USD failed to stay above the 1.2800 support and declined heavily. EUR/GBP is rising steadily and it remains well supported on the downside above 0.8900.


GBP/USD Technical Analysis
This past week, the British Pound started a major decline from well above the 1.2750 pivot area against the US Dollar. As a result, the GBP/USD pair broke many key supports near the 1.2720 and 1.2650 levels.
The decline was such that the pair even broke the 1.2500 support area and settled well below the 50 hourly simple moving average. Finally, the pair declined below the 1.2400 area and traded as low as 1.2238 on FXOpen.






It is currently correcting higher and trading above the 1.2320 level. It broke the 23.6% Fib retracement level of the recent drop from the 1.2624 high to 1.2238 low.
The first important resistance on the upside is near the 1.2400 and 1.2420 levels. The 50% Fib retracement level of the recent drop from the 1.2624 high to 1.2238 low is also near the 1.2430 level.
Moreover, there is a major bearish trend line forming with resistance near 1.2590 on the hourly chart of GBP/USD. Therefore, the pair is likely to face a lot of hurdles on the upside, starting with 1.2400 and up to 1.2550.
On the downside, an initial support is near the 1.2300 level. If the pair fails to correct higher above 1.2400, there is a risk of more losses below the 1.2300 support area. The next key support is near the 1.2250 level, below which it could visit the 1.2200 zone.


See more: https://www.fxopen.blog/gbp-usd-and-...ng-to-recover/

FXOpen Increases Margin Requirements Due to Effect of Coronavirus

Due to the current high volatility across all financial markets, FXOpen have taken the decision to increase margin requirements by up to 5 times their normal level in order to protect client funds. The change affects currency pairs, indices, metals and commodities and will take effect from March 17^th until further notice. Please ensure you have sufficient margin to cover any open positions.Cryptocurrencies are unaffected by this change.Please consider these circumstances when planning your forthcoming trading activities.For reference

As we know, today at an emergency meeting the US Fed decided to cut its key interest rate to 0-0.25% to support the economy. However, despite this, stock indices are currently falling following the news of the coronavirus pandemic.With the fall of Asian and European indices, as well as US Index Futures, Bitcoin is also losing ground. However, in the near future, Bitcoin might attract the demand of investors as an alternative asset. Halving can give Bitcoin additional growth.You should not expect a quick recovery in stock prices, while the spread of coronavirus continues, which impedes the normal functioning of the economy. Following an almost complete stoppage of the largest economies in the world, the number of infected continues is growing exponentially, which indicates the insufficiency of the measures taken. This factor may further destabilize markets. With this development, it is also likely that currencies in emerging markets will decline, as well as a rapid increase in volatility in the Forex market.If stock indices hold on at current levels and coronavirus recedes, a rally in all markets can be expected. Creating a vaccine can “blow markets.” .Based on the current situation, guided by the rules of risk management and in order to preserve client funds, FXOpen decided to increase margin requirements. We sincerely hope for your understanding.Follow the updates on Facebook, Twitter and Telegram.
FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)