Thread: FXOpen News

EUR/USD and EUR/JPY Trading Near Crucial Juncture
EUR/USD is currently facing a strong resistance near the 1.0880 and 1.0900 levels. EUR/JPY is slowly rising and it is struggling to stay above a major support at 116.15.

EUR/USD Technical Analysis

In the past few sessions, the Euro remained stable above the 1.0785 and 1.0800 support levels against the US Dollar. The EUR/USD pair started a decent recovery and climbed above the 1.0820 resistance.
Besides, there was break above the 1.0850 resistance zone and the 50 hourly simple moving average. During the rise, there was a break above a key bearish trend line with resistance near 1.0845 on the hourly chart of EUR/USD.

The pair even spiked above the 1.0880 level and traded as high as 1.0884 on FXOpen. It failed to continue higher above the 1.0880 and 1.0900 resistance levels.
It is currently correcting lower and trading below the 1.0860 level. There was a break below the 23.6% Fib retracement level of the recent wave from the 1.0784 low to 1.0884 high.
It is now retesting the broken trend line at 1.0845. An initial support is near the 1.0834 level since it is the 50% Fib retracement level of the recent wave from the 1.0784 low to 1.0884 high.
The next major support is near the 1.0830 level and the 50 hourly simple moving average, below which the price could extend its decline towards the 1.0800 level.
On the upside, the bulls need to gain pace above the 1.0880 and 1.0900 resistance levels. A successful close above the 1.0900 resistance could lift the pair towards the 1.0950 and 1.0970 levels.
See more: https://www.fxopen.blog/eur-usd-and-...cial-juncture/

EUR/USD Recovering Nicely While USD/CHF Is Showing Bearish Signs
EUR/USD is recovering and it recently cleared the key 1.0880 and 1.0900 resistance levels. Conversely, USD/CHF is sliding, but it is approaching a major support near the 0.9690 level.

EUR/USD Technical Analysis

This past week, the Euro formed a strong support above 1.0800 and 1.0820 against the US Dollar. As a result, the EUR/USD pair started a steady rise and broke the 1.0880 resistance zone.
Moreover, there was a break above the 1.0900 resistance and the 50 hourly simple moving average. The pair traded as high as 1.0975 on FXOpen and corrected lower.

The recent low was formed near 1.0918 and the price is currently rising. It is trading above the 1.0925 level and testing the 50% Fib retracement level of the recent decline from the 1.0975 high to 1.0918 low.
On the upside, there is a key hurdle forming near the 1.0955 level. It is close to the 61.8% Fib retracement level of the recent decline from the 1.0975 high to 1.0918 low.
If there is a clear break above the 1.0955 resistance, the pair could rise further above the 1.0975 and 1.0980 levels. The next major hurdle is near the 1.1000 level, above which it could test 1.1040.
On the downside, there is a short term bullish trend line forming with support near 1.0930 on the hourly chart of EUR/USD. If the pair fails to stay above the trend line support, it could revisit the 1.0900 support level or the 50 hourly simple moving average.
See more: https://www.fxopen.blog/eur-usd-reco...bearish-signs/

Changes to Trading Hours on US Memorial Day and UK Spring Bank Holiday

Dear Traders,
Please, note that on May 25^th, 2020 trading hours for CFDs will be limited due to Memorial Day in the US and UK Spring Bank Holiday.

Trading hours will be changed as follows:

• Metals - trading ends at 20:00;
  
• Oil and natural gas - trading ends at 19:45;
  
• Indices:
  
  • Japan 225 - trading ends at 20:00;
    
  • US SPX 500 - trading ends at 20:00;
    
  • US Tech 100 - trading ends at 20:00;
    
  • Wall Street 30 - trading ends at 20:00;
    
  • UK 100 (#UK100) - trading closed.
  
  

All other instruments will be traded as usual, without changes.
Please take these changes into consideration when planning your trading activities during the upcoming week.
Follow the updates on Facebook, Twitter and Telegram.
FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

FXOpen Margin Requirements for Indices, Metals and Commodities

Dear Traders,
You may recall that on March 17, FXOpen increased margin requirements by up to 5 times their normal level for currency pairs, indices, metals and commodities, and on May 4 returned the margin requirements for currency pairs to their normal value.
Please note that on May 18 we have returned the margin requirements for indices, metals and commodities to their normal value.Cryptocurrencies are unaffected by this change.Please consider these circumstances when planning your forthcoming trading activities.Follow the updates on Facebook, Twitter and Telegram.
FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)

AUD/USD AND NZD/USD COULD EXTEND LOSSES

AUD/USD started a fresh decline after it failed near the 0.6600 resistance zone. Similarly, NZD/USD is currently declining and trading below the key 0.6120 support zone.

AUD/USD Technical Analysis

The Aussie Dollar followed a bullish past above the 0.6500 pivot level s against the US Dollar. The AUD/USD pair even broke the 0.6550 resistance, but it struggled to stay above the 0.6600 level.
The pair formed a short term top near 0.6616 on FXOpen and recently started a fresh decline. It broke the 0.6600 and 0.6580 levels to enter a bearish zone. Besides, there was a close below the 0.6550 level and the 50 hourly simple moving average.

More importantly, there was a break below a major bullish trend line with support near 0.6550 on the hourly chart of AUD/USD. The pair is now trading below the 0.6540 level and testing the 38.2% Fib retracement level of the upward move from the 0.6402 low to 0.6616 high.
On the downside, the first key support is near the 0.6510 level. It is close to the 50% Fib retracement level of the upward move from the 0.6402 low to 0.6616 high.
If AUD/USD fails to stay above the 0.6610 support, it is likely to continue lower towards the 0.6480 and 0.6450 support levels. On the upside, there is a key resistance forming near the 0.6555 level and the 50 hourly simple moving average.
Therefore, the pair must recover above 0.6550 and 0.6560 to start a fresh increase towards the 0.6600 level in the near term.
See more: https://www.fxopen.blog/aud-usd-and-...tend-losses-2/

Trading Conditions for France 40 Equity Index CFD

Dear Traders,
We'd like to inform you that due to the short-selling ban in France being lifted, on May 19, FXOpen have removed the previous restrictions in trading the France 40 Equity Index CFD.
Please consider these changes when planning your trading activities.

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


FXOpen and ForexCup are launching "Money Managers", a competition on real PAMM accounts, and inviting traders to take part in the competition. Become a winner of huge money prizes for a total of $10,000. The contest starts on June 1, 2020. Registration is open until June 30.





Conditions of the contest


Dates: June 1 - August 31, 2020;
Registration open now until June 30, 2020;
Prize fund: USD 10,000;
Rewards:
1st place - USD 5,000;
2nd place - USD 3,000;
3rd place - USD 2,000.
The prize will be added to an investment account according to 50/50 offer (50% of the profit goes to the manager, 50% - to the investor (company)).
Initial deposit: any amount, but not less than the minimum amount for opening a PAMM account (from USD 1,000 for PAMM ECN, from USD 200 for PAMM STP, from USD 1,000 for PAMM Crypto);
Minimum trading period: not less than 2 months;
Minimum number of trades per month: 10;
Trading volume: not less than 0.5 lot per stage;
Profit at the end of the contest: at least 20% of the deposit;
Drawdown from the start of the competition to the moment of crediting of the prize money (the prize is transferred within 5 working days after the end of the competition in the case of an open offer) must not exceed 20%;
Short-term drawdown recorded at a rollover after crediting of the prize must not exceed 20%, as well as drawdown not recorded at a rollover must not exceed 25%.


See more: https://www.fxopen.com/en/about-us/news/win-up-to-$5,000-in-money-managers

EUR/USD TURNS GREEN, USD/JPY STUCK IN CRUCIAL RANGE

EUR/USD started a fresh increase above the 1.0900 and 1.0920 resistance levels. USD/JPY is currently trading in a crucial range above the key 107.35 support zone.

EUR/USD Technical Analysis

This week, the Euro started a steady increase from the 1.0870 swing low against the US Dollar. The EUR/USD pair broke the 1.0900 and 1.0920 resistance levels to enter a bullish zone.
Moreover, there was a close above the 1.0950 level and the 50 hourly simple moving average. The pair even climbed above the 1.0980 and traded as high as 1.0995 on FXOpen.

It is currently correcting lower and trading below the 23.6% Fib retracement level of the recent rise from the 1.0870 low to 1.0995 high. On the downside, there is a decent support forming near the 1.0950 level.
There is also a key bullish trend line forming with support near 1.0945 on the hourly chart of EUR/USD. Below the trend line, the 50% Fib retracement level of the recent rise from the 1.0870 low to 1.0995 high might provide support near 1.0935.
The next key support is near the 1.0930 level and the 50 hourly simple moving average. If the pair fails to stay above the 1.0950 and 1.0930 support levels, it is likely to resume its decline and continue lower towards the 1.0880 support.
Conversely, EUR/USD could start a fresh increase and trade above the 1.0980 resistance. The main resistance is near the 1.1000 level, above which the bulls are likely to aim a test of 1.1040 in the near term.
See more: https://www.fxopen.blog/eur-usd-turn...crucial-range/

FXOpen Launches AstroPay Payments

FXOpen is delighted to announce a brand new, cutting-edge payment method for our clients, via AstroPay Card. AstroPay Card is a virtual prepaid card accepted in thousands of online sites across the globe and sites affiliated with the AstroPay system. AstroPay Card is available in USD or in any other currency from the list of payment methods per country.
AstroPay issues cards with the following prepaid values: $10, $25, $50, $100, $500, $1,000 (or equivalent in a local currency). Deposit fee: from 2.7%; withdrawal fee: 0.5%. To celebrate the launch, clients can deposit for free, paying 0% commission. See more: https://www.fxopen.com/en/about-us/n...ropay-payments

GOLD PRICE AND CRUDE OIL PRICE FACING KEY HURDLES

Gold price remained in a strong uptrend and traded above the $1,750 level before correcting lower. Similarly, crude oil price started a strong increase and climbed above $30.00.

Gold Price Technical Analysis

Gold price remained in a bullish zone above the $1,700 resistance zone against the US Dollar. There was a clear break above the $1,725 and $1,750 resistance levels.
The price traded to a new yearly high at $1.764 on FXOpen and settled well above the 50-day simple moving average. Recently, there was a downside correction from the $1,764 high.

The bears pushed the price below the $1,750 level. It even broke the 50% Fib retracement level of the upward move from the $1,669 low to $1,764 high. However, the decline was protected by the $1,690 level.
It seems like the price found support near the 76.4% Fib retracement level of the upward move from the $1,669 low to $1,764 high. The next major support on the downside is near the $1,685 level and the 50-day simple moving average.
Any further losses may perhaps open the doors for a larger decline towards the $1,650 and $1,640 levels in the near term. On the upside, an initial resistance is near the $1,740 level.
The first major resistance is near the $1,765 level. There is also a key resistance trend line forming with the current hurdle at $1,775 on the daily chart of gold. Any further gains could lead gold price towards the $1,800 level.
See more: https://www.fxopen.blog/gold-price-a...g-key-hurdles/