Thread: FXOpen News

GBP/USD RISING STEADILY, EUR/GBP REMAINS AT RISK

GBP/USD started a fresh increase and it broke the 1.3150 resistance zone. EUR/GBP is struggling and it could decline sharply if it breaks the 0.9010 support zone.

GBP/USD Technical Analysis

The British Pound retested the 1.2900 region before it started a fresh increase against the US Dollar. The GBP/USD pair broke the main 1.3000 resistance level to move back into a positive zone.
The upward move gained pace above the 1.3050 resistance and the 50 hourly simple moving average. There was also a break above the 1.3150 resistance and the pair traded as high as 1.3193 on FXOpen.

It is currently consolidating gains below the key 1.3200 resistance. An initial support is near the 1.3165 and the 23.6% Fib retracement level of the recent wave from the 1.3076 low to 1.3193 high. It seems like there is a key contracting triangle forming with support near 1.3145 on the hourly chart of GBP/USD.
The first major support is near the 1.3150 level. The breakdown support is close to the triangle lower trend line, and the 50% Fib retracement level of the recent wave from the 1.3076 low to 1.3193 high.
A clear break the triangle support and the 50 hourly simple moving average could start an extended decline towards the 1.3075 support level. Any further losses may perhaps lead the pair towards the 1.3000 support zone.
Conversely, the pair might continue to move up above the 1.3190 level. The main hurdle is near the 1.3200 level, above which the pair is likely to surge towards the 1.3240 and 1.3250 levels.
See more: https://www.fxopen.blog/gbp-usd-risi...mains-at-risk/

EUR/USD AND EUR/JPY: EURO APPROACHING NEXT KEY BREAK

EUR/USD struggled to clear the 1.1900 resistance and corrected lower. EUR/JPY is showing positive signs and it could rise again if it clears the 124.50 resistance.

EUR/USD Technical Analysis

This past week, the Euro started a decent upward move from the 1.1640 support zone against the US Dollar. The EUR/USD pair climbed higher above the 1.1750 resistance and it even surpassed the 1.1820 barrier.
There was also a break above the 1.1880 resistance, but the pair struggled to stay above the 1.1900 level. A high was formed near 1.1919 on FXOpen before there was a downside correction.

The pair traded below the 1.1850 support level and the 50 hourly simple moving average. During the rise, there was a break below a key bullish trend line with support near 1.1865 on the hourly chart of EUR/USD.
The pair traded as low as 1.1779 and it is currently correcting higher. There was a break above the 1.1800 level, plus the pair traded above the 23.6% Fib retracement level of the downward move from the 1.1919 high to 1.1779 low.
It is now testing the 1.1835 resistance. The first major resistance is near the 1.1850 level and the 50 hourly simple moving average. A clear break above the 1.1850 resistance zone could open the doors for a fresh increase above the 1.1900 level.
Conversely, the pair could start a fresh decline from the 1.1840 and 1.1850 resistance level. An initial support is near the 1.1800 level, below which the pair might even decline below the 1.1779 low.
See more: https://www.fxopen.blog/eur-usd-and-...ext-key-break/

GBP/USD AND GBP/JPY: BRITISH POUND EYEING FURTHER UPSIDES

GBP/USD started a fresh increase above the 1.3150 resistance zone. GBP/JPY is also showing positive signs and it could rise sharply if there is a clear break above 138.50.

GBP/USD Technical Analysis

This past week, the British Pound gained momentum above the 1.3200 resistance against the US Dollar. The GBP/USD pair even broke the 1.3280 resistance, but it struggled to retain momentum above the 1.3300 level.
A high was formed near 1.3310 on FXOpen before the price started a downside correction. There was a break below the 1.3200 support zone and the 50 hourly simple moving average.

However, the bulls were able to protect the 1.3100 support zone. A low is formed near 1.3160 and the price is currently rising. There was a break above the 1.3150 and 1.3160 resistance levels. The pair even climbed above the 50% Fib retracement level of the downward move from the 1.3310 high to 1.3106 swing low.
There is also a major bullish trend line forming with support near 1.3150 on the hourly chart of GBP/USD. The pair is currently testing the 1.3235 resistance zone.
The 61.8% Fib retracement level of the downward move from the 1.3310 high to 1.3106 swing low is also near the 1.3233 level. A clear break above the 1.3235 and 1.3250 levels might open the doors for more upsides in the near term.
On the downside, the trend line is important near the 1.3150 level and the 50 hourly simple moving average. A close below the 1.3150 level might push the pair further lower towards the 1.3050 support.
See more: https://www.fxopen.blog/gbp-usd-and-...rther-upsides/

EUR/USD IS GAINING PACE, USD/JPY COULD EXTEND LOSSES

EUR/USD started a fresh increase above the 1.1800 resistance zone. USD/JPY is currently declining and it is likely to continue lower towards 103.75 or 103.20.

EUR/USD Technical Analysis

Recently, there was a steady upward move in the Euro from the 1.1750 support zone against the US Dollar. The EUR/USD pair climbed above the 1.1800 and 1.1820 resistance levels to move into a positive zone.
The pair even broke the 1.1850 resistance and settled above the 50 hourly simple moving average. It traded as high as 1.1893 on FXOpen before starting a downside correction.

There was a break below the 1.1880 level, but the pair remained well bid near the 1.1850 zone. A low is formed near 1.1851 and the pair is currently consolidating. An initial resistance is near the 1.1872 level. It is close to the 50% Fib retracement level of the recent decline from the 1.1893 high to 1.1851 low.
The first major resistance for the bulls is seen near the 1.1875 level. It coincides with the 61.8% Fib retracement level of the recent decline from the 1.1893 high to 1.1851 low.
Any further gains could open the doors for a push above the 1.1900 zone in the coming sessions. On the downside, there is a key bullish trend line forming with support near 1.1855 on the hourly chart of EUR/USD.
The trend line is close to the 50 hourly simple moving average, below which EUR/USD could start a downside extension towards the 1.1835 support. The main support is forming near the 1.1800 zone, below which there is a risk of a sharp decline towards the 1.1750 and 1.1740 levels in the near term.
See more: https://www.fxopen.blog/eur-usd-is-g...extend-losses/

GBP/USD IS FACING TOUGH CHALLENGE, EUR/GBP SIGNALING MORE GAINS

GBP/USD failed on more than one occasion near 1.3400 and declined below 1.3350. EUR/GBP gained bullish momentum towards 0.9000 and settled nicely above 0.8950.

GBP/USD Technical Analysis

The British Pound started a fresh increase after forming a support base near 1.3200 against the US Dollar. The GBP/USD pair cleared a few key hurdles near 1.3320 and 1.3350 to move into a positive zone.
However, the pair struggled to clear the 1.3400 resistance. There were two attempts to clear 1.3400, but the bulls failed to gain strength. The last swing high was formed near 1.3381 on FXOpen before the pair reacted to the downside.

There was a break below the 1.3350 support level and the 50 hourly simple moving average. Moreover, there was a break below a key bullish trend line with support near 1.3345 on the hourly chart of GBP/USD.
The pair even spiked below 1.3300 and traded as low as 1.3288. It is currently rising and trading above the 1.3320. There was a break above the 50% Fib retracement level of the recent decline from the 1.3381 high to 1.3288 low.
However, the pair is facing a strong resistance near the 1.3345 level and the 50 hourly simple moving average. There is also a connecting bearish trend line forming with resistance near 1.3358 on the same chart.
A clear break above the 1.3345 and 1.3360 levels could lead the pair towards the main 1.3400 resistance. A close above 1.3400 is needed for a larger increase.
Conversely, the pair could resume its decline below 1.3320. The first major support is near 1.3285, below which the pair might revisit the 1.3200 support zone.
See more: https://www.fxopen.blog/gbp-usd-is-f...ng-more-gains/

EUR/USD AND EUR/JPY: EURO GAINING BULLISH MOMENTUM

EUR/USD started a strong increase and it surged above the 1.2000 resistance. EUR/JPY is also gaining momentum and it is trading well above the 125.00 resistance.

EUR/USD Technical Analysis

This week, the Euro formed a strong support zone above the 1.1920 and 1.1950 levels against the US Dollar. The EUR/USD pair started a strong increase and it broke the main 1.2000 resistance level.
The pair even gained strength above 1.2020 and settled above the 50 hourly simple moving average. Moreover, there was a break above a key connecting resistance trend line at 1.2030 on the hourly chart of EUR/USD.

The pair even surpassed the 1.2050 resistance and traded as high as 1.2079 recently on FXOpen. It seems like the pair might continue to move higher above the 1.2080 level.
The next key resistance is near the 1.2120 level, above which the pair could test 1.2150. If there is a downside correction, an initial support could be 1.2050 or the 23.6% Fib retracement level of the recent increase from the 1.1960 swing low to 1.2079 high.
The next major support is near the 1.2030 level. Any more losses could lead the pair towards the 1.2020 support or the 50% Fib retracement level of the recent increase from the 1.1960 swing low to 1.2079 high.
See more: https://www.fxopen.blog/eur-usd-and-...lish-momentum/

AUD/USD AND NZD/USD SIGNALING DOWNSIDE CORRECTION

AUD/USD gained momentum above the 0.7400 level before it faced sellers near 0.7445. NZD/USD is also correcting gains and it could test the 0.7020 support.

AUD/USD Technical Analysis

In the past few days, the Aussie Dollar saw a steady increase above the 0.7320 pivot against the US Dollar. The AUD/USD pair even broke the 0.7400 resistance level to move into a positive zone.
During the increase, there was a break above a key contracting triangle with resistance near 0.7385 on the hourly chart of AUD/USD. The upward move gained pace above 0.7400 and the pair settled above the 50 hourly simple moving average.

It traded to a new monthly high at 0.7449 and recently started a downside correction. There was a break below the 0.7430 level. It is testing a key support zone near 0.7425, and the 23.6% Fib retracement level of the recent increase from the 0.7351 swing low to 0.7449 high.
If there are more losses and a downside break below 0.7425, the pair could extend losses towards the 0.7400 support. The 50 hourly simple moving average is also near the 0.7405 level to act as a support.
Moreover, the 50% Fib retracement level of the recent increase from the 0.7351 swing low to 0.7449 high is at 0.7400. Any more losses could lead the pair towards the 0.7350 support. Conversely, the pair could start a fresh increase above the 0.7440 level.
The first major resistance is near the 0.7450 level, above which AUD/USD could accelerate higher towards the 0.7500 level.
See more: https://www.fxopen.blog/aud-usd-and-...de-correction/

GBP/USD AND GBP/JPY: BRITISH POUND REMAINS SUPPORTED

GBP/USD started a fresh increase above the 1.3400 resistance zone. GBP/JPY traded as high as 140.70 before starting a major downside correction.

GBP/USD Technical Analysis

This past week, the British Pound saw a decent increase above the 1.3400 resistance area against the US Dollar. The GBP/USD pair even broke the 1.3480 resistance to move further into a positive zone.
Finally, there was a break above the 1.3500 level and the pair traded as high as 1.3539 on FXOpen. Recently, the pair started a downside correction and traded below the 1.3500 level. There was a break below the 1.3480 and 1.3450 support levels.

There was also a break below a connecting bullish trend line with support near 1.3430 on the hourly chart of GBP/USD. The pair traded close to the 1.3400 level and it is currently correcting higher.
It is facing resistance near the broken trend line, 1.3440, and the 50 hourly simple moving average. The 23.6% Fib retracement level of the recent decline from the 1.3539 high to 1.3408 low is also near the 1.3440 area.
If there is an upside break above the 1.3440 level and the 50 hourly simple moving average, the pair could start a fresh increase. The next major resistance is near the 1.3475 level.
The 50% Fib retracement level of the recent decline from the 1.3539 high to 1.3408 low is also near the 1.3473 level. Any more upsides could lead the pair above 1.3500. Conversely, the pair could decline further below 1.3408.
The next major support is near the 1.3400 and 1.3385 levels. A close below the 1.3385 level might call for a larger decline towards the 1.3320 level in the near term.
See more: https://www.fxopen.blog/gbp-usd-and-...ins-supported/

EUR/USD IS SHOWING BULLISH SIGNS, USD/JPY COULD RESUME DECLINE

EUR/USD gained bullish momentum above the 1.2000 and 1.2080 resistance levels. USD/JPY is currently recovering, but it might decline again if it fails to clear 104.30.

EUR/USD Technical Analysis

This past week, the Euro started a strong upward move above the 1.2000 resistance against the US Dollar. The EUR/USD pair broke many hurdles near 1.2050 and 1.2080 to move into a positive zone.
The pair even broke the 1.2150 resistance and settled above the 50 hourly simple moving average. It traded as high as 1.2177 on FXOpen before starting a downside correction. There was a break below the 1.2100 level, but the pair remained well bid near the 1.2080 zone.

The recent low was formed near 1.2095 and the pair is currently rising. There was a break above the 1.2110 resistance levels. The pair also climbed above the 23.6% Fib retracement level of the recent decline from the 1.2166 high to 1.2095 low.
There is a major contracting triangle forming with resistance near 1.2120 on the hourly chart of EUR/USD. The pair is currently attempting upside above 1.2120.
The next key resistance is near the 1.2130 level. It is close to the 50% Fib retracement level of the recent decline from the 1.2166 high to 1.2095 low. A clear break above 1.2125 and 1.2130 could open the doors for more gains. The next major resistance is near the 1.2170 and 1.2180 levels.
Conversely, the pair could start a fresh decline below the 1.2100 support. The main support is near the 1.2080 zone, below which the EUR/USD pair could slide towards the 1.2025 and 1.2000 support levels in the near term.
See more: https://www.fxopen.blog/eur-usd-is-s...esume-decline/

EUR/USD APPROACHING KEY RESISTANCE, USD/CHF REMAINS AT RISK

EUR/USD is trading in a positive zone above 1.2100, but it is facing hurdles near 1.2170. USD/CHF is struggling to hold the 0.8850 support and it could decline heavily.

EUR/USD Technical Analysis

In the past few days, the Euro remained in a positive zone above the 1.2050 support zone against the US Dollar. The EUR/USD pair gained pace above the 1.2100 resistance to move into a positive zone.
The upward move was such that the pair broke the 1.2120 resistance and settled above the 50 hourly simple moving average. However, the pair seems to be facing a strong resistance near the 1.2165 and 1.2170 levels.

The recent high was formed near 1.2168 on FXOpen before there was a downside correction. There was a break below the 1.2155 level, and the pair traded below the 23.6% Fib retracement level of the upward move from the 1.2121 low to 1.2168 high.
The decline found support near the 1.2145 and the 50 hourly simple moving average. The 50% Fib retracement level of the upward move from the 1.2121 low to 1.2168 high is also acting as a support.
There is also a connecting bullish trend line forming with support near 1.2140 on the hourly chart of EUR/USD. On the upside, the pair could gain bullish momentum once it clears the 1.2165 and 1.2170 resistance levels.
Conversely, there is a risk of a downside break below the trend line and 1.2145. The next major support is near the 1.2120 level. Any more losses could spark a major decline below the 1.2100 support zone in the coming sessions.
See more: https://www.fxopen.blog/eur-usd-appr...mains-at-risk/