Thread: FXOpen News

EUR/USD and EUR/JPY: Facing Hurdles, Risk of More Losses
EUR/USD is currently trading in a bearish zone below the 1.1850 pivot level. EUR/JPY is currently correcting higher, but it is likely to face hurdles near 125.00.

EUR/USD Technical Analysis

In the past few days, there was a steady decline in the Euro from well above the 1.1950 level against the US Dollar. The EUR/USD pair broke the 1.1910 pivot level to move into a negative zone.
The decline gained pace below the 1.1850 support level and the 50 hourly simple moving average. The pair even broke the 1.1800 support and traded as low as 1.1758 on FXOpen.

It is currently consolidating losses and trading near the 1.1780 level. An initial resistance is near the 23.6% Fib retracement level of the recent decline from the 1.1854 high to 1.1758 low. The first major resistance is near the 1.1800 level.
There is also a key bearish trend line forming with resistance near 1.1805 on the hourly chart of EUR/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the 1.1854 high to 1.1758 low.
The 50 hourly simple moving average is also near the trend line resistance. If the pair breaks the trend line resistance, it could recover towards the 1.1850 resistance zone.
Conversely, the pair might resume its decline below the 1.1750 support. The next key support is near the 1.1720 level, below which the pair is likely to accelerate lower in the near term.
See more: https://www.fxopen.blog/eur-usd-and-...f-more-losses/

Gold Price and Oil Price Facing Key Hurdles
Gold price is facing a strong resistance near the $1,950 and $1,960 levels. Crude oil price is currently declining and it may perhaps continue lower below $37.00.

Gold Price Technical Analysis

After a strong decline, gold price found support near the $1,910 level against the US Dollar. The price started a fresh increase above the $1,925 and $1,935 resistance levels.
It even broke the $1,950 resistance level and the 50 hourly simple moving average. However, the bears defended the $1,960 resistance area. A high is formed near $1,966 on FXOpen and the price is currently declining.

There was a break below the $1,950 support level. The price even traded below the 50% Fib retracement level of the upward move from the $1,920 swing low to $1,966 swing high.
The price is now testing the $1,938 support level, and the 61.8% Fib retracement level of the upward move from the $1,920 swing low to $1,966 swing high. There is also a key rising channel forming with support near $1,938 on the hourly chart of gold.
If there is a downside break below the channel support at $1,938, there is a risk of more losses. The next major support is near the $1,925 level, below which the price is likely to revisit the $1,910 support zone.
On the upside, the price is facing a major resistance near $1,950 and $1,960. A close above the $1,960 resistance zone could open the doors for a larger upward move towards the $1,980 and $1,985 resistance levels in the near term.
See more: https://www.fxopen.blog/gold-price-a...g-key-hurdles/

GBP/USD And EUR/GBP: British Pound Nosedived
GBP/USD declined heavily below the 1.3050 and 1.2950 support levels. EUR/GBP climbed higher sharply and it broke the key 0.9200 resistance zone.

GBP/USD Technical Analysis

The British Pound started a strong decline from well above the 1.3200 support zone against the US Dollar. The GBP/USD pair traded below many key supports near 1.3000 to move into a bearish zone.
The pair gained bearish momentum below the 1.2950 support level and the 50 hourly simple moving average. It even broke the 1.2800 support zone and traded as low as 1.2762 on FXOpen.

It is currently consolidating losses and trading near the 1.2825 level. It is close to the 23.6% Fib retracement level of the recent decline from the 1.3033 high to 1.2762 low. On the upside, the first key resistance is near the 1.2850 level and the 50 hourly simple moving average.
There is also a major bearish trend line forming with resistance near 1.2870 on the hourly chart of GBP/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the 1.3033 high to 1.2762 low.
Therefore, the pair must break the trend line resistance and then gain pace above the 1.2900 level to start a recovery wave. The next key hurdles are near 1.2980 and 1.3000.
Conversely, the pair might continue to move down below the 1.2800 support. A break below the 1.2762 low could open the doors for more losses. The next key support is near the 1.2720 level, below which it could test 1.2660.
See more: https://www.fxopen.blog/gbp-usd-and-...und-nosedived/

EUR/USD Testing Key Support, USD/CHF Struggle Continues
EUR/USD faced a strong selling interest near the 1.1900 zone and recently corrected lower. USD/CHF is attempting an upside break, but it is struggling to gain momentum.

EUR/USD Technical Analysis

This week, the Euro remained in a positive zone above the 1.1800 support zone against the US Dollar. The EUR/USD pair climbed above the 1.1820 resistance and even settled above the 1.1850 level.
However, the pair failed once again to clear the key 1.1900 resistance zone. A high is formed near 1.1900 on FXOpen and the pair recently declined sharply. There was a break below a key bullish trend line with support near 1.1885 on the hourly chart of EUR/USD.

Moreover, there was a break below the 1.1850 support and the 50 hourly simple moving average. It traded as low as 1.1828 and it is currently correcting higher. It is trading near the 23.6% Fib retracement level of the recent decline from the 1.1900 high to 1.1828 low.
On the upside, there is strong resistance forming near the 1.1865 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the recent decline from the 1.1900 high to 1.1828 low.
A successful break above the 1.1865 resistance could lead the pair towards the main 1.1900 resistance. Any further gains could start a sustained upward move towards the 1.1980 level.
Conversely, the pair may continue to move down below the 1.1825 level. An immediate support is near the 1.1800 level. Any further losses may perhaps lead the pair towards the 1.1740 support level in the coming sessions.
See more: https://www.fxopen.blog/eur-usd-test...gle-continues/

AUD/USD Facing Hurdles While NZD/USD Is Surging
AUD/USD remained well bid above the 0.7250 support, but it is facing hurdles near 0.7350. Conversely, NZD/USD broke a major barrier at 0.6750 and it is currently rising steadily.

AUD/USD Technical Analysis

The Aussie Dollar seems to be following a broad range above the 0.7250 support level against the US Dollar. The AUD/USD pair traded as low as 0.7254 on FXOpen recently and it is currently moving higher.
There was a break above the 0.7280 and 0.7300 resistance levels. The pair traded nicely above the 50% Fib retracement level of the downward move from the 0.7344 high to 0.7254 low.

Moreover, there was a close above the 0.7300 level and the 50 hourly simple moving average. However, the pair is facing a lot of hurdles on the upside, starting with 0.7330. There is also a connecting bearish trend line forming with resistance near 0.7330 on the hourly chart of AUD/USD.
The pair is currently testing the 76.4% Fib retracement level of the downward move from the 0.7344 high to 0.7254 low. The main resistance on the upside is near the range high at 0.7350.
If there is an upside break above the trend line and the 0.7350 resistance, there are chances of a steady rise. The next key resistance on the upside is near the 0.7400 level. Conversely, the pair might start a fresh decline below the 0.7300 level.
The first key support is near the 0.7280 level. The main support is still near the 0.7250 level, below which AUD/USD might accelerate its losses towards the 0.7200 support in the near term.
See more: https://www.fxopen.blog/aud-usd-faci...sd-is-surging/

GBP/USD Showing Positive Signs While GBP/JPY Could Nosedive
GBP/USD is trading above the 1.2920 support, but it is facing many hurdles near 1.3000. GBP/JPY is declining and it remains at a risk of more downsides below 135.00.

GBP/USD Technical Analysis

This past week, the British Pound found support near the 1.2800 zone against the US Dollar. GBP/USD started a decent increase and surpassed the 1.2880 and 1.2900 resistance levels.
The pair even climbed above the 1.2950 resistance and the 50 hourly simple moving average. However, the pair failed to gain pace above the key 1.3000 resistance zone. The bulls many attempts to clear 1.3000, but they failed.

The recent high was formed near 1.2999 on FXOpen before the pair declined back to 1.2910. A low is formed near 1.2913 and the pair is currently correcting higher.
It broke the 1.2940 and 1.2950 resistance levels. There was a break above the 50% Fib retracement level of the recent decline from the 1.2999 high to 1.2913 low. An immediate resistance on the upside is near the 1.2980 level.
The 76.4% Fib retracement level of the recent decline from the 1.2999 high to 1.2913 low is also near the 1.2980 level. The main resistance is still near the 1.3000 handle. A successful close above the 1.3000 resistance is needed for a further gains.
On the downside, there is a major bullish trend line forming with support near 1.2925 on the hourly chart of GBP/USD. A clear break below the trend line support might start another decline and the pair could decline towards the 1.2800 support.
See more: https://www.fxopen.blog/gbp-usd-show...ould-nosedive/

EUR/USD DIVING WHILE USD/JPY IS SHOWING RECOVERY SIGNS

EUR/USD started a strong decline from the 1.1880 resistance, and it declined below 1.1800. USD/JPY is recovering nicely and it could surpass the 105.50 resistance.

EUR/USD Technical Analysis

This past week, the Euro made a few attempts to clear the 1.1880 and 1.1900 resistance levels against the US Dollar. The EUR/USD pair failed to gain traction, resulting in a sharp decline below the 1.1800 support.
The pair gained bearish momentum below the 1.1750 support level and the 50 hourly simple moving average. Moreover, there was a break below a declining channel with support near 1.1710 on the hourly chart of EUR/USD.

The pair even broke the 1.1700 support and traded as low as 1.1675 on FXOpen. It is currently consolidating losses above the 1.1675 low. An initial resistance on the upside is near the broken channel support at 1.1700.
The 23.6% Fib retracement level of the recent decline from the 1.1767 high to 1.1675 low is also near the 1.1696 level. The next major resistance on the upside is near the 1.1720 level.
The 50% Fib retracement level of the recent decline from the 1.1767 high to 1.1675 low is near 1.1720 to act as a hurdle. To move into a positive zone, the bulls need to gain pace above the 1.1720 and 1.1740 resistance levels.
Conversely, EUR/USD could continue to move down below the 1.1675 low. The next major support is near the 1.1650 level, below which the pair could test the 1.1620 level.
See more: https://www.fxopen.blog/eur-usd-divi...ecovery-signs/

GBP/USD AND EUR/GBP: BRITISH POUND ATTEMPTING RECOVERY

GBP/USD extended its decline below the 1.2800 and 1.2750 support levels. EUR/GBP is currently trading below the 0.9150 support zone and facing key hurdles.

GBP/USD Technical Analysis

The British Pound started a strong decline after it failed to settle above 1.3000 against the US Dollar. The GBP/USD pair broke a major support zone near the 1.2920 level to move into a bearish zone.
The pair even broke the 1.2800 support level and settled below the 50 hourly simple moving average. The decline extended below the 1.2750 support and it traded as low as 1.2675 on FXOpen.

The recent low was near 1.2687 and the pair is currently attempting a decent recovery. There was a break above the 1.2720 resistance, plus the 50% Fib retracement level of the recent decline from the 1.2806 high to 1.2687 low.
The GBP/USD pair is now trading above the 50 hourly simple moving average and it is attempting a close above a key bearish trend line forming with resistance near 1.2760 on the hourly chart.
The next key resistance is near the 1.2780 level. It is close to the 76.4% Fib retracement level of the recent decline from the 1.2806 high to 1.2687 low. A successful close above the 1.2780 and 1.2800 resistance levels might start a steady rise.
The next major resistance is near the 1.2850 level, above which the pair might revisit 1.2920. Conversely, the pair might continue to move down below the 1.2740 support.
A break below the 1.2720 level and the 50 hourly SMA could start another decline. The next key support is near the 1.2680 level, below which it could test 1.2650.
See more: https://www.fxopen.blog/gbp-usd-and-...ting-recovery/

Participate in the “Money Managers” contest and win up to $5000

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

Changes to Trading Hours on Hong Kong Public Holiday



Dear Traders,

Please, note that on 1 and 2 October 2020 trading hours will be changed as follows:

• Indices:
  
  • Hong Kong 50 (#HSI): trading closed.

Other indices will be traded without changes.
Please, consider this information when planning your trading for the upcoming week.