Thread: FXOpen News

GBP/USD and USD/CAD: More Upsides Possible
GBP/USD remained stable above the 1.3000 pivot level, but it is struggling to clear 1.3135. USD/CAD is currently rising, but it is also facing a major hurdle near 1.3280.

GBP/USD Technical Analysis

In the past few sessions, the British Pound remained stable above the 1.3000 level against the US Dollar. The GBP/USD pair seems to be forming a strong support base above the 1.3000 and 1.3020 levels.
Recently, the pair traded above the 1.3100 resistance zone and the 50 hourly simple moving average. It traded as high as 1.3171 on FXOpen and the pair is currently correcting lower.

There was a break below the 1.3120 support level. The pair even spiked below the 50% Fib retracement level of the upward move from the 1.3045 low to 1.3141 high. However, the pair found support near the 1.3080 area and 50 hourly simple moving average.
There is also a key bullish trend line forming with support near 1.3085 on the hourly chart of GBP/USD. Moreover, the pair is stable above the 61.8% Fib retracement level of the upward move from the 1.3045 low to 1.3141 high.
If there is a downside break below the trend line support and the 50 hourly SMA, there could be an extended decline. The next support is near the 1.3045 level, below which the pair could revisit the main 1.3020 and 1.3000 support levels.
Conversely, GBP/USD might start a fresh increase above 1.3120. The main hurdle is near 1.3135 and 1.3140, above which the bulls are likely to aim a test of 1.3200.
See more: https://www.fxopen.blog/gbp-usd-and-...ides-possible/

EUR/USD Turns Green, USD/JPY Could Struggle To Recover
EUR/USD is following a bullish path above the 1.1850 support area. USD/JPY is currently recovering, but it is likely to face hurdles near the 105.80 and 106.00 levels.
EUR/USD Technical Analysis
In the past few days, the Euro gained bullish momentum above the 1.1820 resistance level against the US Dollar. The EUR/USD pair surpassed the 1.1850 resistance zone move further into a positive zone.
The bulls remained in action and the pair broke the 1.1900 pivot level and the 50 hourly simple moving average. The pair traded as high as 1.1966 on FXOpen and it is currently correcting lower. It is trading below the 1.1950 and 1.1940 levels.

An initial support is near the 1.1925 level. It is close to the 23.6% Fib retracement level of the recent upward move from the 1.1781 low to 1.1966 high. There is also a major bullish trend line forming with support near 1.1925 on the hourly chart of EUR/USD.
If there is a downside break below the trend line support, the pair could correct further lower towards the 1.1900 support or the 50 hourly simple moving average. The next major support is near the 1.1880 level.
The 50% Fib retracement level of the recent upward move from the 1.1781 low to 1.1966 high is also near the 1.1875 level to provide support. Any further losses might push EUR/USD into a bearish zone towards 1.1720.
On the upside, the 1.1950 and 1.1965 levels are immediate hurdles, above which the pair could start a steady increase towards the 1.2000 level in the near term.
See more: https://www.fxopen.blog/eur-usd-turn...le-to-recover/

AUD/USD AND NZD/USD COULD RESUME DECLINE

AUD/USD is struggling to settle above the 0.7200 resistance zone and it could resume its decline. Similarly, NZD/USD is facing hurdles near 0.6550 and it might decline again.

AUD/USD Technical Analysis

The Aussie Dollar started a major decline from the 0.7275 swing high against the US Dollar. The AUD/USD pair broke the 0.7200 support zone and a major bullish trend line to move into a bearish zone.
The pair even dived below 0.7180 before it found support near 0.7135. A swing low was formed near 0.7135 on FXOpen and the pair is currently correcting higher. There was a break above the 0.7150 and 0.7180 levels.

The pair even climbed above the 38.2% Fib retracement level of the key decline from the 0.7275 high to 0.7135 low. Moreover, there was a break above a short-term bearish trend line with resistance near 0.7175 on the hourly chart of AUD/USD.
However, the pair seems to be facing a strong resistance near the 0.7200 level and the 50 hourly simple moving average. It seems like the 50% Fib retracement level of the key decline from the 0.7275 high to 0.7135 low is also acting as a hurdle.
If there is no upside break and close above 0.7200, the pair is likely to resume its decline. An initial support is near the 0.7180, below which the bears are likely to aim a retest of 0.7140.
Conversely, the pair could break the 0.7200 barrier and settle nicely above the 50 hourly SMA. The next resistance could be 0.7220, above which AUD/USD might test 0.7250.
See more: https://www.fxopen.blog/aud-usd-and-...esume-decline/

GBP/USD and GBP/JPY: British Pound At Risk of More Downsides
GBP/USD failed twice near the 1.3250 resistance area and declined sharply. GBP/JPY is also trading in a negative zone and it could continue to move down if it breaks the 138.35 support.

GBP/USD Technical Analysis

This past week, the British Pound made another attempt to gain pace above the 1.3250 resistance against the US Dollar. However, the GBP/USD pair failed to continue higher and started a sharp decline.
A high was formed near 1.3254 on FXOpen and the pair dived below the 1.3150 support. There was also a break below the 1.3120 support zone and the 50 hourly simple moving average. The pair traded close to the 1.3050 support and a low is formed near 1.3059.

It is currently consolidating losses and trading above 1.3080. It seems like there is a short-term breakout pattern forming with resistance near 1.3100 on the hourly chart of GBP/USD.
Above the triangle resistance, the first resistance is near the 1.3150 level. It is close to the 23.6% Fib retracement level of the recent decline from the 1.3254 high to 1.3059 low. On the upside, the next key resistance might be 1.3150 or the 50 hourly simple moving average.
The main resistance is near the 1.3160 level since it is close to the 50% Fib retracement level of the recent decline from the 1.3254 high to 1.3059 low. Any further gains could lead the pair towards the 1.3250 barrier in the near term.
Conversely, the pair could continue to decline below the 1.3060 and 1.3050 support levels. The next major support for the bulls might be 1.3000.
See more: https://www.fxopen.blog/gbp-usd-and-...ore-downsides/

EUR/USD Could Extend Losses, USD/CHF Eyeing Upside Break
EUR/USD is recovering, but it is facing hurdles near 1.1840 and 1.1850. USD/CHF is approaching a crucial breakout and the pair might surge if it clears 0.9100.

EUR/USD Technical Analysis

In the past few days, the Euro followed a larger decline from well above the 1.1900 level against the US Dollar. The EUR/USD pair broke the 1.1850 support zone to move into a bearish zone.
The pair even settled below the 1.1820 level and the 50 hourly simple moving average. It traded as low as 1.1754 and it is currently correcting higher. However, the pair seems to be facing hurdles near the 1.1840 and 1.1850 levels.

A swing high is formed near 1.1849 on FXOpen and the pair is currently consolidating in a range. It tested the 50% Fib retracement level of the upward move from the 1.1754 low to 1.1849 high.
On the upside, there are two bearish trend lines forming with resistance near 1.1825 and 1.1850 on the hourly chart of EUR/USD. The second bearish trend line is important near the 1.1850 level. A successful close above the 1.1850 resistance is needed for a fresh increase.
The next major resistance on the upside could be 1.1920. Conversely, the pair may continue to move down below the 1.1800 level. An immediate support is near the 1.1790 level. It is close to the 61.8% Fib retracement level of the upward move from the 1.1754 low to 1.1849 high.
Any further losses may perhaps lead the pair towards the 1.1750 support level in the coming sessions.
See more: https://www.fxopen.blog/eur-usd-coul...-upside-break/

GBP/USD Surging While EUR/GBP Turns Red Below 0.8950
GBP/USD started a strong increase above the 1.3200 resistance and it is likely to continue higher. EUR/GBP is currently declining and trading in a bearish zone below 0.8950.

GBP/USD Technical Analysis

The British Pound managed to settle above the 1.3200 resistance zone against the US Dollar. The GBP/USD pair broke a major hurdle near the 1.3250 zone to move further into a positive zone.
It even surpassed the 1.3300 resistance and settled well above the 50 hourly simple moving average. It traded as high as 1.3367 on FXOpen and it is currently consolidating gains. An initial support on the downside is near the 1.3320 level.

The 23.6% Fib retracement level of the recent rise from the 1.3161 low to 1.3367 high is also near the 1.3318 level to act as a strong support. The next major support is near the 1.3280 level.
There is also a major bullish trend line forming with support near 1.3280 on the hourly chart of GBP/USD. The trend line is close to the 50% Fib retracement level of the recent rise from the 1.3161 low to 1.3367 high.
Therefore, the pair is likely to find a strong buying interest above 1.3280 and 1.3300 if it corrects lower. On the upside, the pair is facing a few short-term hurdles near 1.3380.
A successful close above the 1.3380 level is needed for more gains. In the mentioned case, GBP/USD is likely to clear the 1.3400 level. The next major resistance above 1.3400 is near the 1.3440 level, where the bears might take a stand.
See more: https://www.fxopen.blog/gbp-usd-surg...-below-0-8950/

EUR/USD Correcting Gains While USD/JPY Is Rising Steadily
EUR/USD spiked above the 1.2000 resistance before starting a downside correction. USD/JPY is recovering nicely and it is trading above the 106.00 level.

EUR/USD Technical Analysis

In the past few days, the Euro gained bullish momentum above the 1.1900 resistance level against the US Dollar. The EUR/USD pair even climbed above the 1.1950 resistance zone move further into a positive zone.
Finally, the pair spiked above the 1.2000 resistance level and traded as high as 1.2010 on FXOpen. Recently, the pair started a downside correction below the 1.1980 support.

There was a break below the 1.1950 support and the 50 hourly simple moving average. The pair traded below the 38.2% Fib retracement level of the upward move from the 1.1762 low to 1.2010 high.
Moreover, there was a break below a connecting bullish trend line with support near 1.1920 on the hourly chart of EUR/USD. The pair is now trading near the 1.1900 support level. The first major support is near the 1.1885 level.
The 50% Fib retracement level of the upward move from the 1.1762 low to 1.2010 high is also near the 1.1885 level. The next major support is near the 1.1850 level, below which the pair might move into a bearish zone.
Conversely, EUR/USD could start a fresh increase from 1.1880 or 1.1850. On the upside, the 1.1950 and 1.1965 levels are initial hurdles, above which the pair could revisit the 1.2000 resistance in the near term. Any further gains could lead the pair towards the 1.2050 level.

See more: https://www.fxopen.blog/eur-usd-corr...sing-steadily/

Apple and Tesla Are Having Stock Splits



Apple and Tesla announced plans in August 2020 to split their stocks. Due to the completion of the split, Apple (AAPL) and Tesla (TSLA) CFDs are expected to begin trading in the United States at an adjusted price based on the Split ratio starting August 31, 2020. Given this, trading on the MT4/MT5 platforms for these CFDs is switched to Close Only mode until trading starts on August 31, 2020. Please, consider this information when planning your trading for the upcoming week.
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US Labor Day Trading Hour Changes

Due the forthcoming Labor Day in the US, there are changes in trading hours for some markets on 7^th September.Monday 7^th September

• Metals CFD:
  
  • Gold (XAUUSD): trading session ends at 20:00;
    
  • Silver (XAGUSD): trading session ends at 20:00.
  
  
  
• Commodity Spot :
  
  • UK Brent (XBRUSD): trading session ends at 19:45;
    
  • US Crude (XTIUSD): trading session ends at 19:45;
    
  • US Natural Gas (XNGUSD): trading session ends at 19:45.
  
  
  
• Indices:
  
  • Japan 225 (#J225)​: until 20:00;
    
  • US SPX 500 (Mini) (#SPXm): until 20:00;
    
  • US Tech 100 (Mini) (#NDXm): until 20:00;
    
  • Wall Street 30 (Mini) (#WS30m): until 20:00.
  
  
  
• Stocks CFD: trading closed.

Other indices will be traded without changes.
Please, consider this information when planning your trading for the upcoming week.
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GBP/USD and GBP/JPY: British Pound Near Inflection Zone
GBP/USD is following a declining pattern below the 1.3300 resistance zone. GBP/JPY is also struggling to clear the 141.20 resistance and it could extend its decline.

GBP/USD Technical Analysis

This past week, the British Pound gained traction above the 1.3300 resistance against the US Dollar. GBP/USD even broke the 1.3400 resistance, but it failed to test the 1.3500 resistance zone.
It started a downside correction and traded below the 1.3400 support. The decline gained pace below the 1.3320 support and the 50 hourly simple moving average. The pair even spiked below the 1.3200 support level and traded as low as 1.3175 on FXOpen.


Recently, there was an upside correction above the 1.3250 level. However, the pair failed to gain pace above the 1.3300 resistance level and the 50 hourly simple moving average.
There is also a major bearish trend line forming with resistance near 1.3255 on the hourly chart of GBP/USD. The pair is currently declining and trading below the 38.2% Fib retracement level of the recent recovery from the 1.3175 low to 1.3293 high.
An initial support is near the 1.3235 level. It is close to the 50% Fib retracement level of the recent recovery from the 1.3175 low to 1.3293 high.
If there is a downside break below 1.3235 and 1.3220, the pair is likely to continue lower. In the stated case, GBP/USD may even break the 1.3175 support and continue lower. Conversely, the pair might break the trend line resistance and the 50 hourly SMA to start a fresh increase above 1.3260. The next major resistance is near 1.3300, followed by 1.3320.
See more: https://www.fxopen.blog/gbp-usd-and-...flection-zone/