-
EUR/USD AND EUR/JPY: DECENT RECOVERY UNDERWAY
EUR/USD started an upside correction above the 1.1660 and 1.1700 resistance levels. EUR/JPY tested the 124.25 resistance and it is currently correcting lower.
EUR/USD Technical Analysis
This past week, the Euro faced an increase in selling pressure below 1.1780 against the US Dollar. The EUR/USD pair broke the 1.1700 support level to move further into a bearish zone.
The decline gained pace below the 1.1660 support level and the 50 hourly simple moving average. The pair traded close to the 1.1600 level and formed a low at 1.1612 on FXOpen.
https://www.fxopen.blog/wp-content/u...sd-chart-4.png
A support base was formed above 1.1600 and the pair recently started a decent upward move. There was a break above the 1.1650 and 1.1660 resistance levels. Moreover, there was a break above a key bearish trend line with resistance near 1.1680 on the hourly chart of EUR/USD.
The pair climbed above the 38.2% Fib retracement level of the key decline from the 1.1871 high to 1.1612 low. It is now trading above the 1.1720 level, but facing hurdles near 1.1740.
It seems like the 50% Fib retracement level of the key decline from the 1.1871 high to 1.1612 low is acting as a resistance. On the upside, the first major resistance is near the 1.1775 level. A clear break above 1.1775 could open the doors for more gains above the 1.1800 resistance.
Conversely, the pair might correct lower from 1.1740. An initial support is near the 1.1710 level. The next key support is near the 1.1695 level or the 50 hourly simple moving average, below which the pair is likely to revisit the 1.1612 low.
See more: https://www.fxopen.blog/eur-usd-and-...very-underway/
-
AUD/USD COULD CORRECT LOWER WHILE NZD/USD IS HOLDING GAINS
AUD/USD gained traction above 0.7100, but it seems to be struggling near the 0.7200 resistance. NZD/USD is showing positive signs and it could rise further above 0.6660.
AUD/USD Technical Analysis
The Aussie Dollar started a steady rise from the 0.7000 support zone against the US Dollar. The AUD/USD pair broke a few major hurdles near 0.7100 and 0.7120 to move into a positive zone.
The pair gained pace above the 0.7150 level and the 50 hourly simple moving average. However, it failed to gain bullish momentum above the 0.7200 resistance level. A high is formed near 0.7209 on FXOpen recently and it is currently correcting lower.
https://www.fxopen.blog/wp-content/u...dusd-chart.png
There was a break below the 0.7180 support level. Moreover, there was a break below a major bullish trend line with support at 0.7165 on the hourly chart of AUD/USD.
The pair is currently testing the 23.6% Fib retracement level of the upward move from the 0.7005 low to 0.7209 high, and the 50 hourly simple moving average. If there is a close below the 50 hourly simple moving average, the pair could continue to move down towards the 0.7150 support.
The next major support is near the 0.7100 level. It is close to the previous breakout zone, plus the 50% Fib retracement level of the upward move from the 0.7005 low to 0.7209 high.
On the upside, the pair is facing a major challenge near the 0.7200 level. If there is a proper close above the 0.7200 level, the pair could resume its upward move towards the 0.7250 and 0.7260 levels in the near term.
See more: https://www.fxopen.blog/aud-usd-coul...holding-gains/
-
Dear Clients, FXOpen is delighted to announce a new, cutting-edge payment method for our clients, via CASHU. CASHU is a safe and secure online payment method that was established in 2002 by Maktoob.com. It is recognized as the first and the largest in the MENA region, serving nearly 2.3 million consumers with accessible and easy solutions to pay online.More details:
- Currency: USD;
- Payment Processing Time: instant;
- Minimum deposit: $10;
- Maximum deposit: $5000;
- Deposit fee: 7%*.
*To celebrate the launch, clients can deposit for free, with 0% commission. Learn how to deposit via CASHU in our knowledge base.
-
GBP/USD NEAR CRUCIAL JUNCTURE, USD/CAD IS DIVING
GBP/USD started a fresh increase above 1.2820, but it is facing a strong resistance near 1.2980 and 1.3000. USD/CAD is currently declining and trading well below 1.3320.
GBP/USD Technical Analysis
In the past few days, the British Pound started a steady increase from the 1.2700 support zone against the US Dollar. The GBP/USD pair broke many hurdles near 1.2820 to move into a positive zone.
There was also a close above the 1.2900 level and the 50 hourly simple moving average. However, the pair is now facing a strong resistance near the 1.2980 and 1.3000 levels. The recent low was formed near 1.2837 on FXOpen, and the pair is currently moving higher.
https://www.fxopen.blog/wp-content/u...pusd-chart.png
There was a break above the 1.2920 resistance level. The pair surpassed the 50% Fib retracement level of the downward move from the 1.2978 high to 1.2837 low.
The pair is now trading near the 1.2950 resistance level, and the 76.4% Fib retracement level of the downward move from the 1.2978 high to 1.2837 low. The main hurdle is still near the 1.3000 level, above which the pair is likely to accelerate higher in the near term.
On the downside, the first key support is near the 1.2900 area and the 50 hourly simple moving average. There is also a key bullish trend line forming with support near 1.2905 on the hourly chart of GBP/USD.
A clear break below the trend line support might start a steady decline towards the 1.2840 support zone. The next major support is near the 1.2780 level.
See more: https://www.fxopen.blog/gbp-usd-near...cad-is-diving/
-
FXOpen are celebrating their 15th anniversary — come join the party!
In these 15 years, we have grown from a small community of Forex enthusiasts to a company that unites Forex traders around the world. Today we are one of the world's leading and fastest-growing Forex brokers with more than 1,000,000 active clients from 96 countries, a wide range of trading accounts with more than 100+ trading instruments, and years of work dedicated to the Forex industry. We hold a certificate for high-quality order execution from VerifyMyTrade and the Financial Commission, as well as the Financial Conduct Authority (FCA) license and Australian Securities and Investments Commission (ASIC). https://www.fxopen.com/App_Themes/Mi...s%20ann_en.png
For us, this kind of trust is a great honor and the most important asset. That's why we do our best to match the credibility that has been placed on us, both technologically and ethically. Every product we create has the traders' interests at its core. To share our excitement about passing this milestone, we have prepared a special promotion for you!Reduced trading commission on Anniversary ECN Account
- - 20% for accounts with any deposit volume
- - 50% - from $1,000 to $5,000
- no commission for accounts with a deposit from $5,000
- no commission for all TickTrader ECN accounts
The offer is available from September 23 until October 31, 2020, for clients who open a special Anniversary ECN account in USD and make deposits within this period. Please note that standard ECN accounts are still subject to standard commission.
See more: https://www.fxopen.com/en/about-us/n...th-anniversary
-
EUR/USD CORRECTING LOWER WHILE USD/CHF CLIMBS STEADILY
EUR/USD failed to clear the 1.1800 resistance zone and started a downside correction. USD/CHF is correcting higher and showing positive signs above 0.9165.
EUR/USD Technical Analysis
This week, the Euro made a few attempts to clear the 1.1800 resistance zone against the US Dollar. The EUR/USD pair failed to extend gains and started a fresh decline.
A high was formed near 1.1807 on FXOpen before the pair broke the 1.1780 support level. There was a clear break below the 1.1765 support level and the 50 hourly simple moving average to start the current decline.
https://www.fxopen.blog/wp-content/u...rusd-chart.png
The pair even broke the 50% Fib retracement level of the upward move from the 1.1697 swing low to 1.1807 high. More importantly, there was a break below a major bullish trend line with support near 1.1740 on the hourly chart of EUR/USD.
The pair is now trading below the 1.1750 support level. An initial support is near the 1.1720 level or the 76.4% Fib retracement level of the upward move from the 1.1697 swing low to 1.1807 high.
The next major support is near the 1.1700 zone, below which the pair might accelerate lower towards the 1.1650 and 1.1620 levels. Conversely, the pair might start a fresh increase above the 1.1750 resistance.
The first major resistance is near the 1.1765 level and the 50 hourly simple moving average. A clear break above the 1.1765 level might lead the pair back towards the main 1.1800 resistance level in the coming sessions.
See more: https://www.fxopen.blog/eur-usd-corr...imbs-steadily/
-
GOLD PRICE AND OIL PRICE SIGNALING MORE UPSIDES
Gold price started a fresh increase from the $1,870 support and climbed above $1,900. Crude oil price is currently rising and trading well above the $40.00 pivot level.
Gold Price Technical Analysis
Gold price remained well bid above the $1,870 support level and started a fresh increase against the US Dollar. The price broke the $1,885 and $1,890 resistance levels to move into a positive zone.
There was a proper close above the $1,900 resistance level and the 50 hourly simple moving average. During the rise, there was a break above a key rising channel with resistance near $1,902 on the hourly chart of gold.
https://www.fxopen.blog/wp-content/u...rice-chart.png
Besides, the price surpassed the 50% Fib retracement level of the key decline from the $1,920 high (formed on FXOpen) to $1,872 low. The bulls are clearly in control above $1,905, with positive signs.
The price is trading above the 76.4% Fib retracement level of the key decline from the $1,920 high to $1,872 low. Therefore, there are chances of more upsides towards the $1,920 high in the coming sessions. Any further gains could open the doors for a larger increase towards the $1,945 and $1,950 levels.
If there is a downside correction, the price might find support near the $1,905 level or the broken channel trend line. The next major support is near the $1,900 level, below which the price might retest the 50 hourly simple moving average at $1,890.
See more: https://www.fxopen.blog/gold-price-a...-more-upsides/
-
GBP/USD AND GBP/JPY: BRITISH POUND SIGNALING MORE UPSIDES
GBP/USD started a strong increase after it broke the 1.2950 and 1.3000 resistance levels. GBP/JPY is trading nicely above 137.00 and it might continue to climb higher.
GBP/USD Technical Analysis
This past week, the British Pound struggled on many occasions near the 1.2980 and 1.3000 resistance levels against the US Dollar. Finally, the GBP/USD pair gained momentum and was able to clear the main 1.3000 resistance level.
The pair formed a strong support base above the 1.2920 level and it climbed higher nicely above the 50 hourly simple moving average. There was a successful close above the 1.3000 level and the pair traded to a new weekly high at 1.3049 on FXOpen.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
The pair is currently consolidating gains above the 1.3020 support. It is also trading above the 23.6% Fib retracement level of the upward move from the 1.2922 low to 1.3049 high.
On the downside, there are many important supports forming near the 1.3000 and 1.2980 levels. There is also a crucial bullish trend line forming with support near 1.2970 on the hourly chart of GBP/USD. The trend line coincides with the 50% Fib retracement level of the upward move from the 1.2922 low to 1.3049 high.
If there is a downside break below the trend line, the pair could correct further lower towards the 1.2925 and 1.2920 support levels.
On the upside, the first major hurdles for the bulls is near the 1.3050 level. A clear break above the 1.3050 resistance is likely to open the doors for a sustained upward move in the coming sessions.
See more: https://www.fxopen.blog/gbp-usd-and-...-more-upsides/
-
EUR/USD COULD CORRECT HIGHER, USD/JPY IS FACING HURDLES
EUR/USD declined recently below the 1.1780 support, but it found support near 1.1730. USD/JPY is showing bearish signs below the key 105.50 resistance level.
EUR/USD Technical Analysis
This past week, the Euro climbed above the 1.1800 and 1.1820 levels against the US Dollar. However, the EUR/USD pair struggled to gain momentum and formed a short-term top near the 1.1830 level.
As a result, there was a downward move below the 1.1800 support level. The pair broke the 1.1780 support level and the 50 hourly simple moving average. Moreover, there was a break below a key bullish trend line with support near 1.1765 on the hourly chart of EUR/USD.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
The pair even broke the 1.1750 support and traded as low as 1.1730 on FXOpen. It is currently consolidating losses above the 1.1730 low. An initial resistance on the upside is near the 1.1750 level.
The 23.6% Fib retracement level of the downward move from the 1.1830 high to 1.1730 low is also near the 1.1754 level. The next major resistance on the upside is near the 1.1780 level.
The 50% Fib retracement level of the downward move from the 1.1830 high to 1.1730 low is near 1.1780 to act as a hurdle. More importantly, the 50 hourly simple moving average is aligned near 1.1790 and a connecting bearish trend line on the same chart.
Therefore, the pair is likely to face a lot of hurdles if it corrects higher towards 1.1780 and 1.1800. Conversely, EUR/USD could continue to move down below the 1.1730 low. The next major support is near the 1.1700 level, below which the pair could test the 1.1660 level.
See more: https://www.fxopen.blog/eur-usd-coul...acing-hurdles/
-
PAMM Service Update: Risk Limitation
Dear Traders,
FXOpen broker has implemented a new feature of the PAMM service — PAMM account drawdown limit. This mechanism will allow reducing losses of Subscribers' funds in case of unprofitable trading on a PAMM account.
https://www.fxopen.com/App_Themes/Mi...20limit_en.png
See more: https://www.fxopen.com/en/about-us/n...isk-limitation
-
GBP/USD AND EUR/GBP: RISK OF MORE DOWNSIDES
GBP/USD started a fresh decline below the 1.3020 and 1.2980 support levels. EUR/GBP is also declining and it is trading well below the 0.9120 resistance zone.
GBP/USD Technical Analysis
The British Pound failed to test the 1.3100 level and started a fresh decline against the US Dollar. The GBP/USD pair broke a major support zone near the 1.2980 level to move into a bearish zone.
The pair even broke the 1.2950 support level and settled below the 50 hourly simple moving average. The decline extended below the 1.2900 zone and it traded as low as 1.2870 on FXOpen.
https://www.fxopen.blog/wp-content/u...sd-chart-2.png
The pair is currently correcting higher and trading above 1.2900. There was a break above the 23.6% Fib retracement level of the recent drop from the 1.3064 high to 1.2870 low. However, the pair is now facing hurdles near the 1.2940 level and the 50 hourly simple moving average.
There is also a major bearish trend line forming with resistance near 1.2970 on the hourly chart of GBP/USD. The trend line is close to the 50% Fib retracement level of the recent drop from the 1.3064 high to 1.2870 low.
A successful break above the trend line resistance is needed to start a fresh increase above the 1.3000 resistance. The next major resistance is near the 1.3020 level, above which it could revisit 1.3080.
Conversely, the pair might continue to move down below the 1.2900 support. The next key support is near the 1.2870 level, below which it could slide sharply towards the 1.2800 level in the coming sessions.
See more: https://www.fxopen.blog/gbp-usd-and-...ore-downsides/
-
EUR/USD AND EUR/JPY: EURO GAINING MOMENTUM
EUR/USD started a fresh increase above the 1.1800 and 1.1820 resistance levels. EUR/JPY is also showing positive signs and trading nicely above the 124.50 support zone.
EUR/USD Technical Analysis
After a steady decline, the Euro found support near the 1.1685 and 1.1700 levels against the US Dollar. A low was formed near 1.1688 on FXOpen and recently, the EUR/USD pair started a fresh increase.
It broke many important hurdles near the 1.1720 and 1.1750 levels to move into a positive zone. Moreover, there was a break above a major bearish trend line with resistance near 1.1750 on the hourly chart of EUR/USD.
https://www.fxopen.blog/wp-content/u...sd-chart-2.png
The pair surged above the 1.1800 resistance and settled well above the 50 hourly simple moving average. During the rise, the pair surpassed the 76.4% Fib retracement level of the main decline from the 1.1830 high to 1.1688 low.
It is now trading above the 1.1830 swing high and showing a lot of positive signs. The next key resistance is near the 1.1865 level. It is close to the 1.236 Fib extension level of the main decline from the 1.1830 high to 1.1688 low.
Any further gains could lead the pair towards the 1.1900 resistance level. Conversely, the pair might correct lower from 1.1850 or 1.1865. An initial support is near the 1.1820 level.
The next key support is near the 1.1800 level or the 50 hourly simple moving average, below which the pair is likely to test the 1.1750 zone.
See more: https://www.fxopen.blog/eur-usd-and-...ning-momentum/
-
GOLD PRICE AND OIL PRICE APPROACHING NEXT KEY BREAK
Gold price started a fresh decline after it failed to clear the $1,930 resistance. Crude oil price is currently holding the $40.50 support and eyeing the next key break.
Gold Price Technical Analysis
Gold price followed a bullish path above the $1,900 support level and started a fresh increase against the US Dollar. The price broke the $1,915 and $1,920 resistance levels.
However, the price struggled to clear the $1,930 resistance zone. A high was formed near $1,931 on FXOpen before the price started a fresh decline. There was a break below the $1,910 support level and the 50 hourly simple moving average.
https://www.fxopen.blog/wp-content/u...ce-chart-1.png
The decline was such that the price spiked below the $1,900 support and traded as low as $1,894. Recently, there was a recovery wave above the $1,900 level.
The price even climbed above the 23.6% Fib retracement level of the recent decline from the $1,931 high to $1,894 low. The price is now facing hurdles near the $1,905 and $1,908 levels.
It seems like there is a major bullish trend line forming with support near $1,900 on the hourly chart of gold. If there is a downside break below the trend line support, the price could decline sharply. The next major support is near the $1,895 level, below which the bears might aim a test of $1,880.
Conversely, a clear break above the $1,908 and $1,910 resistance levels could open the doors for a fresh increase. The next key resistance is near the $1,915 level and the 50 hourly simple moving average, above which the price might revisit the $1,930 resistance zone.
See more: https://www.fxopen.blog/gold-price-a...ext-key-break/
-
EUR/USD DECLINING WHILE USD/CHF COULD GAIN MOMENTUM
EUR/USD struggled to clear the 1.1880 resistance and decline below 1.1820. USD/CHF is showing positive signs and it could gain momentum above 0.9100.
EUR/USD Technical Analysis
After a rejection near the 1.1880 zone, the Euro reacted to the downside against the US Dollar. The EUR/USD pair broke the 1.1850 and 1.1840 support levels to move into a bearish zone.
The pair even broke the 1.1820 support and settled below the 50 hourly simple moving average. More importantly, there was a break below a major contracting triangle with support near 1.1810 on the hourly chart of EUR/USD.
https://www.fxopen.blog/wp-content/u...sd-chart-3.png
The pair is now trading below the 1.1800 level and formed a low at 1.1770 on on FXOpen. If there is an upside correction, the 1.1795 level might act as a resistance. The next resistance is near 1.1800 or the 50% Fib retracement level of the recent decline from the 1.1838 high to 1.1770 low.
On the upside, the first key resistance is near the 1.1815 level. It is close to the 61.8% Fib retracement level of the recent decline from the 1.1838 high to 1.1770 low.
To move back into a positive zone, the pair must break the 1.1800, 1.1815, and 1.1815 resistance levels. Conversely, the pair might continue to move down below the 1.1770 level.
The first major support on the downside is near the 1.1750 level. A clear break below the 1.1750 support level could spark a sharp decline towards the 1.1720 and 1.1705 levels in the coming sessions.
See more: https://www.fxopen.blog/eur-usd-decl...gain-momentum/
-
Best strategy is the strategy that works for you. The strategy that works for you may not work for me. Every body sees the market differently. For some people it's 5+5= 10 and for some people it is 8+2= 10. Try to understand the market. Read charts everyday. You will find the market sentiment. Start with a single pair. Do not run for ready-made strategies.
There is no holigrail. Like trading system, broker is also very important. I am also trading forex from home with TP Global FX broker, a regulated broker. It gives a wide anger of administrations like low spreads as low as 0.01 pips, up to 1:500 leverage and a wide variety of technical tools.
-
GBP/USD DIVING, WHILE USD/CAD IS GAINING BULLISH MOMENTUM
GBP/USD started a fresh decline from well above the 1.3150 pivot level and declined below 1.3000. USD/CAD is showing positive signs and likely to rally above 1.3350.
GBP/USD Technical Analysis
This past week, the British Pound started a fresh decline from well above the 1.3180 zone against the US Dollar. The GBP/USD pair broke the 1.3120 and 1.3050 support levels to move into a bearish zone.
The pair even broke the 1.3000 support and settled below the 50 hourly simple moving average. Finally, there was a spike below the 1.2900 support and a low was formed near the 1.2880 level.
https://www.fxopen.blog/wp-content/u...pusd-chart.png
Recently, there was a minor upside correction above the 1.2950 level, but the pair struggled to clear the 1.2985 level. A high was formed near 1.2987 before the pair declined back below 1.2950. It traded as low as 1.2913 and it is currently consolidating losses.
An initial resistance is near the 1.2950 level. It is close to the 50% Fib retracement level of the recent decline from the 1.2987 high to 1.2913 low. The 50 hourly simple moving average is also close to the 1.2950 zone to act as a hurdle.
Moreover, there is a major bearish trend line forming with resistance near 1.2985 on the hourly chart of GBP/USD. To move into a positive zone, the pair must break the 1.2950 and 1.2985 resistance levels in the coming sessions.
If there is a downside break below the trend line support and 1.2915, there could be an extended decline. The next support is near the 1.2900 level, below which the pair is likely to break 1.2880 and decline towards the 1.2840 level.
See more: https://www.fxopen.blog/gbp-usd-divi...lish-momentum/
-
Dear Clients,
Please, note that on November 1, 2020, FXOpen will switch its trading servers from GMT +3 to GMT +2. The GMT offset in the company's MetaTrader/ TickTrader platforms will be set to GMT+2, starting with the market opening on Monday (November 2, 2020). The changing of server time should not impact your open trades or the process of opening, placing, closing and modifying orders. However, you should keep this information in mind while planning your trading activities. Also, do not forget to adjust the time settings in your Indicators and Expert Advisors accordingly.
-
US ELECTIONS 2020: EUR/USD DECLINE SHARPLY, USD/JPY IS SURGING
EUR/USD declined sharply after it was rejected near the 1.1770 zone. USD/JPY is gaining momentum and it is trading nicely above the 105.00 level.
EUR/USD Technical Analysis
Recently, there was a decent upward move in the Euro from the 1.1640 support zone against the US Dollar. The EUR/USD pair climbed above the 1.1720 and 1.1750 resistance levels, but it struggled to continue higher.
A high was formed near 1.1769 on FXOpen and there was a sharp decline. The pair tumbled below the 1.1750 and 1.1700 support levels. There was also a break below a key bullish trend line with support near 1.1700 on the hourly chart of EUR/USD.
https://www.fxopen.blog/wp-content/u...rusd-chart.png
The pair even broke the 1.1680 support level and the 50 hourly simple moving average. The pair traded as low as 1.1605 and it is currently correcting higher.
There was a break above the 1.1640 level, and the pair traded above the 23.6% Fib retracement level of the recent decline from the 1.1769 high to 1.1605 low. However, the pair is facing a strong resistance near the 1.1660 and 1.1680 levels.
The 50 hourly simple moving average is also near the 1.1665 to act as a hurdle. The main hurdle is forming near the 1.1700 zone and the 50% Fib retracement level of the recent decline from the 1.1769 high to 1.1605 low.
On the downside, the 1.1620 level is an initial support. The main support is forming near the 1.1600 zone, below which there is a risk of a sharp decline towards the 1.1550 and 1.1540 levels in the near term.
See more: https://www.fxopen.blog/us-elections...py-is-surging/
-
FXOpen is currently looking for a Portuguese and English-speaking customer support operator.
Required skills:
- good communication skills,
- basic knowledge of Forex and margin trading,
- ability to work with large amounts of information, multi-tasking,
- be fluent in Portuguese (based in Brazil),
- Microsoft Office user.
Key responsibilities:
- Assisting company customers with various issues online via live chat, messengers and on the phone in Portuguese and English during the specified working hours;
- Official correspondence with customers by e-mail;
- Communication with the Finance, Trading, Sales and IT departments, if required;
- Providing accurate and up-to-date information about the company services;
- Resolving complex customer complaints and enquiries;
- Maintaining high level of communication skills and using various techniques to ensure personal approach to each customer
If you meet these requirements and want to join our team please send your CV to [email protected]
-
GOLD PRICE AND OIL PRICE COULD CORRECT RECENT GAINS
Gold price started a fresh increase and surged towards the $1,950 resistance. Crude oil price also gained pace and it is currently correcting lower from $39.50.
Gold Price Technical Analysis
Gold price started a strong increase from the $1,880 support zone against the US Dollar. The price broke the $1,895 and $1,900 resistance levels to move into a positive zone.
More importantly, there was a break above a major contracting triangle with resistance near $1,910 on the hourly chart of gold. It opened the doors for a sharp rise and the price rallied above $1,920.
https://www.fxopen.blog/wp-content/u...rice-chart.png
There was also a close above $1,925 and the 50 hourly simple moving average. It even tested the $1,950 resistance and high is formed near $1,952 on FXOpen. The price is currently correcting gains and trading below $1,945.
An initial support is near the $1,938 level. It is close to the 23.6% Fib retracement level of the recent rise from the $1,893 swing low to $1,952 high.
The next major support is near the $1,920 level or the 50% Fib retracement level of the recent rise from the $1,893 swing low to $1,952 high. Any further losses could lead the price towards the $1,915 support zone (the recent breakout zone, resistance turned support).
Conversely, the price could start a fresh increase above $1,945. The next key resistance is near the $1,950 level, above which the price might rally towards the $1,965 level in the near term.
See more: https://www.fxopen.blog/gold-price-a...-recent-gains/
-
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.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
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.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
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.
https://www.fxopen.blog/wp-content/u...sd-chart-2.png
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.
https://www.fxopen.blog/wp-content/u...sd-chart-2.png
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.
https://www.fxopen.blog/wp-content/u...sd-chart-4.png
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.
https://www.fxopen.blog/wp-content/u...rusd-chart.png
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.
https://www.fxopen.blog/wp-content/u...dusd-chart.png
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.
https://www.fxopen.blog/wp-content/u...pusd-chart.png
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.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
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.
https://www.fxopen.blog/wp-content/u...sd-chart-2.png
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/
-
AUD/USD AND NZD/USD SET NEW MULTI-MONTH HIGHS, DIPS LIKELY LIMITED
AUD/USD extended its rise above 0.7500 and traded to a new multi-month high above 0.7600. NZD/USD also followed a similar path and climbed towards the 0.7200 zone.
AUD/USD Technical Analysis
In the past few weeks, the Aussie Dollar followed a bullish path after a proper close above 0.7350 against the US Dollar. The AUD/USD pair even broke the 0.7500 resistance level to move into a positive zone.
The upward move gained pace above the 0.7550r resistance and the pair settled well above the 50 hourly simple moving average. The pair even spiked above the 0.7600 level and it traded to a new multi-month high at 0.7639.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
Recently, there was a minor downside correction below the 0.7620 level. The pair traded below the 23.6% Fib retracement level of the recent increase from the 0.7538 swing low to 0.7639 high.
The pair is now testing the 0.7600 support level. There is also a major contracting triangle forming with resistance near 0.7620 on the hourly chart of AUD/USD. The triangle support is near the 0.7600 zone and acting as a strong support.
The next major support is near the 0.7590 level and the 50 hourly simple moving average. The 50% Fib retracement level of the recent increase from the 0.7538 swing low to 0.7639 high is also near the 0.7590 level to provide support.
If there are more losses and a downside break below 0.7575-0.7580, the pair could extend losses towards the 0.7550 support. Conversely, the pair could start a fresh increase above the 0.7620 resistance zone.
See more: https://www.fxopen.blog/aud-usd-and-...ikely-limited/
-
GBP/USD CORRECTS LOWER, USD/CAD EXTENDING GAINS
GBP/USD started a fresh decline after testing the 1.3625 zone. USD/CAD is rising and it is showing a lot of positive signs above the 1.2800 level.
GBP/USD Technical Analysis
This past week, the British Pound gained momentum above the 1.3500 resistance level against the US Dollar. The GBP/USD pair broke the 1.3550 and 1.3560 resistance levels to move into a positive zone.
The pair even broke the 1.3600 resistance and traded as high as 1.3624 on FXOpen. This week, it opened with a gap lower and traded below the 1.3520 support zone. There was a close below the 1.3500 level and the 50 hourly simple moving average.
https://www.fxopen.blog/wp-content/u...sd-chart-2.png
Moreover, there was a break below a major bullish trend line with support near 1.3530 on the hourly chart of GBP/USD. The pair even traded below the 50% Fib retracement level of the upward move from the 1.3134 swing low to 1.3624 high.
An immediate support is near the 1.3320 level. It is close to the 61.8% Fib retracement level of the upward move from the 1.3134 swing low to 1.3624 high.
The next major support is near the 1.3280 level. If there are more downsides, the pair could dive towards the 1.3200 support zone in the near term. On the upside, an initial resistance level is near the 1.3400 level.
The main resistance is now forming near the 1.3500 zone and 50 hourly simple moving average. A close above 1.3500 could open the doors for a push towards the 1.3624 high.
See more: https://www.fxopen.blog/gbp-usd-corr...tending-gains/
-
EUR/USD AND USD/JPY APPROACHING NEXT CRUCIAL BREAKOUT
EUR/USD corrected lower after it struggled to clear the 1.2250 resistance level. USD/JPY is trading above 103.20 and it is likely setting up for the next major move.
EUR/USD Technical Analysis
In the past few days, there were swing moves in the Euro above 1.2200 against the US Dollar. The EUR/USD pair made a couple of attempt to gain strength above 1.2250 and 1.2260, but it failed.
The recent swing high was formed near 1.2256 on FXOpen before the price started a fresh decline. There was a break below the 1.2200 support level and the 50 hourly simple moving average. The pair even broke the 1.2180 support, but it stayed above the 1.2150 zone.
https://www.fxopen.blog/wp-content/u...sd-chart-3.png
A low is formed near 1.2152 and the pair is currently rising. It broke the 23.6% Fib retracement level of the recent decline from the 1.2256 high to 1.2152 low.
On the upside, the first major resistance is near the 1.2200 level and the 50 hourly simple moving average. The 50% Fib retracement level of the recent decline from the 1.2256 high to 1.2152 low is also near 1.2205.
A clear break above the 1.2200 resistance zone could lead the pair towards the main 1.2230 level and a connecting bearish trend line. Any more upsides might increase the chances of a break above 1.2260.
Conversely, the pair could start a fresh decline below the 1.2165 support. The main support is near the 1.2150 zone, and a major bullish trend line forming with support near 1.2160 on the hourly chart of EUR/USD. A break below the trend line support could lead the pair towards the 1.2100 level.
See more: https://www.fxopen.blog/eur-usd-and-...cial-breakout/
-
GBP/USD AND GBP/JPY: BRITISH POUND GAINS BULLISH MOMENTUM
GBP/USD started a strong increase above the 1.3500 resistance zone. GBP/JPY also gained traction and it gained pace above the 140.00 resistance zone to move into a positive zone.
GBP/USD Technical Analysis
This past week, the British Pound saw a strong increase from the 1.3300 support zone against the US Dollar. The GBP/USD pair broke the 1.3500 resistance zone to move further into a positive zone.
The upward move was such that the pair even broke the 1.3550 resistance and settled above the 50 hourly simple moving average. It traded as high as 1.3618 on FXOpen and it is currently consolidating gains.
https://www.fxopen.blog/wp-content/u...sd-chart-3.png
It corrected lower towards 1.3520 and traded as low as 1.3522. Recently, there was a minor increase above the 1.3540 level. The pair climbed above the 1.3550 level, and tested the 50% Fib retracement level of the recent decline from the 1.3618 high to 1.3522 low.
The first major resistance is near the 1.3580 level. It is close to the 61.8% Fib retracement level of the recent decline from the 1.3618 high to 1.3522 low.
On the upside, a clear break above the 1.3600 resistance level is needed for more upsides. The next major resistance is near the 1.3650 level, above which the pair could rise towards the 1.3680 and 1.3700 levels.
On the downside, there is a key bullish trend line forming with support near 1.3555 on the hourly chart of GBP/USD. If there is a downside break below the trend line support, the pair could continue to move down towards the 1.3500 support level in the near term.
See more: https://www.fxopen.blog/gbp-usd-and-...lish-momentum/
-
EUR/USD AND EUR/JPY: EURO GAINS BULLISH MOMENTUM
EUR/USD gained bullish momentum and traded to a new multi-month high above 1.2290. EUR/JPY is also showing positive signs and trading nicely above the 126.80 support.
EUR/USD Technical Analysis
In the past few days, the Euro remained in a positive zone above the 1.2080 and 1.2120 levels against the US Dollar. The EUR/USD pair even broke the 1.2200 resistance zone to move further into a positive zone.
It settled nicely above the 1.2220 level and the 50 hourly simple moving average. There was an upside continuation above the 1.2250 level. The pair traded to a new multi-month high at 1.2294 on FXOpen and it is currently consolidating gains.
https://www.fxopen.blog/wp-content/u...sd-chart-4.png
An initial support on the downside is near the 1.2280 level. It is close to the 23.6% Fib retracement level of the recent increase from the 1.2236 swing low to 1.2294 high.
The first major support is near the 1.2270 level. The next support is near the 1.2265 level or the 50% Fib retracement level of the recent increase from the 1.2236 swing low to 1.2294 high. There is also a key bullish trend line forming with support near 1.2235 on the hourly chart of EUR/USD.
Any more losses could lead the pair towards the 1.2220 level in the near term. On the upside, the 1.2300 zone is likely to act as a major resistance. A clear break above the 1.2300 zone could open the doors for a steady increase in the coming days towards 1.2340 or 1.2350.
See more: https://www.fxopen.blog/eur-usd-and-...lish-momentum/
-
GBP/USD COULD DECLINE FURTHER, USD/CAD IS EYEING UPSIDE BREAK
GBP/USD started a fresh decline after it failed to clear the 1.3700 resistance. USD/CAD is rising and it is currently eyeing an upside break above 1.2750.
GBP/USD Technical Analysis
After a decent increase, the British Pound faced resistance near 1.3680-1.3700 against the US Dollar. As a result, the GBP/USD pair started a fresh decline and broke a couple of important supports near 1.3650.
The pair gained bearish momentum below the 1.3600 level and the 50 hourly simple moving average. It even broke a major support zone at 1.3540 to move into a bearish zone. It traded as low as 1.3496 on FXOpen, and the pair is currently consolidating losses.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
An initial resistance on the upside is near the 1.3525 level. It is close to the 23.6% Fib retracement level of the recent decline from the 1.3635 high to 1.3496 low.
The first major resistance is near the 1.3540 level (the recent breakdown zone). The next resistance is near the 1.3565 zone and the 50 hourly simple moving average. It is also close to the 50% Fib retracement level of the recent decline from the 1.3635 high to 1.3496 low.
Finally, there is a major bearish trend line forming with resistance near 1.3610 on the hourly chart of GBP/USD. Clearly, the pair is likely to face many hurdles if it starts an upside correction from the recent low of 1.3496.
On the downside, the first key support is near the 1.2500 area. The next major support is near the 1.3470 level, below which there is a risk of a sharp decline.
See more: https://www.fxopen.blog/gbp-usd-coul...-upside-break/
-
GBP/USD AND GBP/JPY: BRITISH POUND COULD CORRECT LOWER
GBP/USD gained strength above 1.3600, but it struggled to continue higher above 1.3700. GBP/JPY also corrected lower after forming a short-term top near 142.25.
GBP/USD Technical Analysis
This past week, the British Pound saw a steady increase above the 1.3550 resistance against the US Dollar. The GBP/USD pair even broke the 1.3600 resistance zone to move further into a positive zone.
The pair climbed above the 1.3650 and 1.3680 resistance levels, but it struggled to gain momentum above 1.3700. A high was formed near 1.3710 on FXOpen and the pair recently started a downside correction.
https://www.fxopen.blog/wp-content/u...sd-chart-2.png
There was a break below the 1.3650 and 1.3620 support levels. There was also a close below the 1.3620 level and the 50 hourly simple moving average. Moreover, there was a break below an ascending channel with support near 1.3638 on the hourly chart of GBP/USD.
The pair traded as low as 1.3565 and it is currently consolidating losses. An initial resistance on the upside is near the 1.3600 zone. It is close to the 23.6% Fib retracement level of the recent decline from the 1.3710 high to 1.3565 low.
The first key resistance is forming near the 1.3620 level. The next major resistance is near the 1.3640 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the recent decline from the 1.3710 high to 1.3565 low.
If there is an upside break above 1.3620 and 1.3640, GBP/USD could easily drift towards the 1.3700 zone. On the downside, the 1.3565 level is a decent support. If there is a downside break below the recent low, the pair could continue to move down towards the 1.3500 support level in the near term.
See more: https://www.fxopen.blog/gbp-usd-and-...correct-lower/
-
EUR/USD RECOVERING LOSSES, USD/JPY REMAINS AT RISK
EUR/USD started a downside correction from well above 1.2300 and recently found support near 1.2055. USD/JPY is showing bearish signs and it could decline heavily below 103.50.
EUR/USD Technical Analysis
In the past few days, there was a steady decline in the Euro from well above 1.2200 against the US Dollar. The EUR/USD pair even broke the 1.2120 support level, but it remained well bid above 1.2050.
A low was formed near 1.2053 on FXOpen before the pair is currently recovering losses. There was a break above the 1.2100 resistance level and the 50 hourly simple moving average, opening the doors for a steady increase.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
There was also a break above a major bearish trend line with resistance near 1.2120 on the hourly chart of EUR/USD. The pair even broke the 50% Fib retracement level of the downward move from the 1.2222 swing high to 1.2053 low.
An immediate resistance is near the 1.2058 level. It is close to the 61.8% Fib retracement level of the downward move from the 1.2222 swing high to 1.2053 low. The main resistance is near the 1.2175, above which EUR/USD is likely to accelerate higher.
Conversely, the pair could start a fresh decline below the 1.2135 support. The first major support is near the 1.2115 zone. If there is a downside break below the 1.2115 support zone, the pair could continue to move down. In the stated case, there are high chances of a retest of the 1.2053 swing low in the near term.
See more: https://www.fxopen.blog/eur-usd-reco...mains-at-risk/
-
AUD/USD AND NZD/USD APPROACHING NEXT KEY BREAK
AUD/USD is trading well above 0.7700, but is facing hurdles near 0.7780 and 0.7800. NZD/USD is also showing positive signs, but there is a crucial resistance forming near 0.7225-0.7240.
AUD/USD Technical Analysis
After forming a support base near 0.7660, the Aussie Dollar started a fresh increase against the US Dollar. The AUD/USD pair broke the 0.7700 resistance level to move into a positive zone.
The pair even broke the 0.7720 resistance and settled above the 50 hourly simple moving average. A high is formed near 0.7782 on FXOpen and the pair is currently correcting lower.
https://www.fxopen.blog/wp-content/u...sd-chart-1.png
There was a break below the 0.7760 support level. The pair even traded below the 50% Fib retracement level of the upward move from the 0.7720 swing low to 0.7782 high. It is now testing the 0.7745 support level and the 50 hourly simple moving average.
There is also a major contracting triangle forming with support near 0.7740 on the hourly chart of AUD/USD. The triangle support is close to the 61.8% Fib retracement level of the upward move from the 0.7720 swing low to 0.7782 high.
If there is a downside break below the triangle support, there is a risk of more losses. The next major support on the downside is near the 0.7720 level.
On the upside, the 0.7770 level is an immediate resistance. A clear break above the 0.7770 and 0.7780 levels may possibly open the doors for a larger increase towards 0.7800 and 0.7840 in the coming sessions.
See more: https://www.fxopen.blog/aud-usd-and-...ext-key-break/
-
GBP/USD AND EUR/GBP: BRITISH POUND REMAINS STRONG
GBP/USD extended its rise above the 1.3680 and 1.3700 resistance levels. EUR/GBP is correcting lower and it is approaching a major support near 0.8875.
GBP/USD Technical Analysis
After forming a base above the 1.3500 and 1.3520, there was a fresh increase in the British Pound against the US Dollar. The GBP/USD pair broke the 1.3580 and 1.3600 resistance levels to move into a positive zone.
The pair gained momentum above 1.3600 and it even spiked above the 1.3680 resistance. There was also a break above the 1.3700 zone and the pair settled above the 50 hourly simple moving average.
https://www.fxopen.blog/wp-content/u...sd-chart-3.png
A new multi-month high was formed near 1.3746 on FXOpen before the pair started a downside correction. It traded below the 1.3680 support level and the 50 hourly simple moving average, but the bulls protected the 1.3640 level.
A low is formed near 1.3636 and the pair is currently rising. It is trading above the 1.3680 level, the 50 hourly simple moving average, and the 50% Fib retracement level of the downward move from the 1.3746 high to 1.3636 low.
It seems like there is a key contracting triangle forming with resistance near 1.3715 on the hourly chart of GBP/USD. An immediate resistance is near the 1.3700 zone or the 61.8% Fib retracement level of the downward move from the 1.3746 high to 1.3636 low.
A successful break above the 1.3700 and 1.3715 levels could open the doors for a new high above the 1.3746 in the near term. Conversely, the pair could break the triangle support and continue lower towards the main 1.3620 support level.
See more: https://www.fxopen.blog/gbp-usd-and-...emains-strong/