Thread: FXOpen News

GBP/USD AND EUR/GBP: BRITISH POUND COULD RISE FURTHER

GBP/USD started a strong increase above the 1.2300 resistance zone and it could rise further. EUR/GBP is likely to dip further before it attempts a fresh upward move.

GBP/USD Technical Analysis

In the past few days, there was a decent increase in the British Pound from the 1.2220 support against the US Dollar. As a result, the GBP/USD pair climbed higher and broke many hurdles near the 1.2300 zone.
The pair even settled above the 1.2350 level and the 50 hourly simple moving average. Finally, the pair spiked above the 1.2400 zone and a new intraday high is formed near the 1.2419 level on FXOpen.


It is currently correcting lower and trading near the 23.6% Fib retracement level of the recent rise from the 1.2291 low to 1.2419 high. On the downside, the first major support is near the 1.2360 and 1.2355 levels.
There is also a key bullish trend line forming with support near 1.2350 on the hourly chart of GBP/USD. The trend line is close to the 50% Fib retracement level of the recent rise from the 1.2291 low to 1.2419 high.
If the pair fails to stay above the 1.2350 support, there is a risk of more losses towards the 1.2300 support zone. Any further losses could lead the pair towards the 1.2260 level.
On the upside, an initial resistance zone is near the 1.2400 zone. A successful daily close above the 1.2400 zone could open the doors for a larger upward move towards the 1.2500 resistance in the near term.
See more: https://www.fxopen.blog/gbp-usd-and-...-rise-further/

Trading hours schedule for the Australia Public Holiday on 8 June 2020


Dear Traders,
Due to the Australia Public Holiday on June 8^th you will experience the following change in the trading hours schedule:

• Australia 200: trading starts at 10:10.

All other financial instruments will be traded without changes. Please consider these changes when planning your trading activities. Follow the updates on Facebook, Twitter and Telegram.
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EUR/USD AND EUR/JPY SIGNALING BULLISH CONTINUATION

EUR/USD is rising steadily and trading nicely above the 1.1180 level. EUR/JPY is also gaining bullish momentum and it is likely to continue higher above 121.80.

EUR/USD Technical Analysis

After forming a strong support above 1.0900, the Euro started a strong increase against the US Dollar. The EUR/USD pair broke many hurdles near 1.1100 to move into a positive zone.
There was a close above the 1.1120 level and the 50 hourly simple moving average. The pair recently tested the 1.1200 zone and traded as high as 1.1201 on FXOpen. The current price action is positive and dips remain supported near 1.1180.


The 23.6% Fib retracement level of the recent rally from the 1.1115 low to 1.1201 high is also near the 1.1180 level to act as a support. There is also a major bullish trend line forming with support near 1.1140 on the hourly chart of EUR/USD.
The trend line is close to the 1.1150 pivot level. The 50% Fib retracement level of the recent rally from the 1.1115 low to 1.1201 high could also provide support near the 1.1150 level and the 50 hourly simple moving average.
If the pair fails to stay above 1.1150 and 1.1140, it could revisit the 1.1100 support zone. On the upside, the pair is likely to continue higher above the 1.1200 resistance zone.
A successful close above the 1.1200 resistance could lift the pair towards the 1.1240 and 1.1250 levels. Any further gains may perhaps call for a test of the 1.1320 level in the near term.
See more: https://www.fxopen.blog/eur-usd-and-...-continuation/

AUD/USD AND NZD/USD COULD EXTEND RALLY

AUD/USD is gaining traction and it is trading nicely above the 0.6900 level. Similarly, NZD/USD is rising and it might soon surge above the 0.6500 resistance zone.

AUD/USD Technical Analysis
The Aussie Dollar formed a strong support above 0.6600 and started a fresh increase against the US Dollar. The AUD/USD pair broke many hurdles near 0.6750 to move into a positive zone.
The upward move was such that the pair settled nicely above the 0.6800 level and the 50 hourly simple moving average. It even traded towards the 0.7000 level and formed a new monthly high at 0.6987 on FXOpen.

Recently, there was a short-term downside correction from the 0.6987 high. There was a break below the 23.6% Fib retracement level of the upward move from the 0.6882 low to 0.6987 high.
However, the decline was protected by the 0.6930 level. It seems like the 50% Fib retracement level of the upward move from the 0.6882 low to 0.6987 high is acting as a strong support.
There is also a major bullish trend line forming with support near 0.6930 on the hourly chart of AUD/USD. If the pair fails to stay above the trend line support and the 50 hourly simple moving average, there is a risk of a sharp downside correction towards the 0.6850 support level.
On the upside, an initial resistance is near the 0.6980 and 0.7000 levels. If AUD/USD settles above the 0.7000 resistance zone, there could be a sustained upward move towards the 0.7050 and 0.7080 levels in the near term.
See more: https://www.fxopen.blog/aud-usd-and-...-extend-rally/

FXOpen improves trading conditions on ECN accounts


FXOpen broker is pleased to announce a reduction in commissions on MT4 and MT5 ECN accounts. Now the half-turn commission is $3.5 per lot for deposits of up to 1,000 USD and a trading volume of up to 5,000,000. For more information on fees on ECN accounts, please visit our knowledge base. Follow the updates on Facebook, Twitter and Telegram.
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GBP/USD AND GBP/JPY: BRITISH POUND ACCELERATING HIGHER

GBP/USD rallied recently and broke the 1.2650 resistance zone. GBP/JPY is also rising and it is trading well above the 138.00 pivot and support zone.

GBP/USD Technical Analysis

This past week, the British Pound started a major upward move above the 1.2500 barrier against the US Dollar. The GBP/USD pair broke many hurdles near 1.2600 to move into a bullish zone.
There was also a close above the 1.2700 level and the 50 hourly simple moving average. The pair traded to a new monthly high at 1.2732 on FXOpen and it is currently consolidating gains.

It tested the 23.6% Fib retracement level of the upward move from the 1.2500 low to 1.2732 high. An immediate support on the downside is near the 1.2700 level. There is also a key bullish trend line forming with support near 1.2700 on the hourly chart of GBP/USD.
If the pair breaks the trend line support, it could decline towards the main 1.2620 support zone and the 50 hourly simple moving average. The 50% Fib retracement level of the upward move from the 1.2500 low to 1.2732 high is also near the 1.2620 support.
Any further losses may perhaps start a major decline towards the 1.2550 and 1.2500 support levels. Conversely, the pair might continue to move up above the 1.2720 and 1.2740 resistance levels.
The next major resistance is near the 1.2780 level, above which GBP/USD could accelerate towards the 1.2850 level in the near term.
See more: https://www.fxopen.blog/gbp-usd-and-...rating-higher/

EUR/USD COULD ACCELERATE HIGHER WHILE USD/CHF TURNS RED

EUR/USD is gaining traction and it is trading above the 1.1280 and 1.1300 resistance levels. Conversely, USD/CHF is trading in a bearish zone and it could face sellers near 0.9550.
EUR/USD Technical Analysis
This past week, the Euro started a decent upward move from the 1.1150 support against the US Dollar. The EUR/USD pair broke many hurdles near 1.1250 to move into a positive zone.
Moreover, there was a close above the 1.1300 resistance and the 50 hourly simple moving average. The last swing low was formed near 1.1240 on FXOpen and the recent high was near 1.1363.

During the rise, there was a break above a key triangle resistance at 1.1305 on the hourly chart of EUR/USD. The pair is currently consolidating gains and trading above the 1.1320 level.
It tested the 23.6% Fib retracement level of the recent upward move from the 1.1240 low to 1.1363 high. The first major support is seen near the 1.1300 level or near the broken triangle resistance.
The 50% Fib retracement level of the recent upward move from the 1.1240 low to 1.1363 high is also near the 1.1300 support along with the 50 hourly simple moving average. Any further losses may perhaps lead the pair towards the 1.1250 support zone.
On the upside, there is a major barrier for the bulls near the 1.1380 level, above which EUR/USD could rally significantly above the 1.1400 level in the near term.
See more: https://www.fxopen.blog/eur-usd-coul...chf-turns-red/

GOLD PRICE AND CRUDE OIL PRICE COULD EXTEND LOSSES

Gold price struggled to continue higher above $1,745 and it is currently declining. Similarly, crude oil price is facing an increase in selling pressure below the $36.50 support.
Gold Price Technical Analysis
Gold price struggled to gain strength above the $1,745 level and started a fresh decline against the US Dollar. The price traded as high as $1,744 on FXOpen and recently declined below the $1,735 support level.
There was a break below the $1,730 support and the 50 hourly simple moving average. Besides, the price traded below the 50% Fib retracement level of the upward move from the $1,708 low to $1,744 high.

More importantly, there was a break below a key bullish trend line with support near $1,726 on the hourly chart of gold. The price is now testing the $1,724 and $1,722 support levels.
The 61.8% Fib retracement level of the upward move from the $1,708 low to $1,744 high is also acting as a decent support. If there is a downside break below the $1,722 and $1,720 levels, there are chances of more losses.
The next key support is near the $1,708 low, below which the price might continue to move down towards the $1,700 support zone.
On the upside, an initial resistance is near the $1,730 level. A successful break above the $1,730 and $1,735 levels is needed for a fresh increase towards $1,745 or even $1,750.
See more: https://www.fxopen.blog/gold-price-a...extend-losses/

GBP/USD AND EUR/GBP: BRITISH POUND SIGNALING MORE LOSSES

GBP/USD started a sharp downside correction after it rallied towards 1.2820. EUR/GBP is rising steadily and it might clear the 0.9000 resistance zone in the near term.
GBP/USD Technical Analysis
This past week, there was a strong increase in the British Pound above the 1.2600 resistance against the US Dollar. The GBP/USD pair even broke the 1.2750 resistance zone, but it struggled to continue higher.
The pair spiked above the 1.2800 level and formed a new monthly high at 1.2813 on FXOpen. Recently, it started a sharp downside correction and traded below the 1.2750 support.

There was a clear break below the 1.2680 support level and the 50 hourly simple moving average. During the decline, there was a break below a connecting bullish trend line with support at 1.2715 on the hourly chart of GBP/USD.
Finally, the pair spiked below the 1.2500 support and traded as low as 1.2473. It is currently correcting higher above the 1.2500 level. An initial resistance is near the 1.2545 level or the 38.2% Fib retracement level of the recent decline from the 1.2653 high to 1.2473 low.
There is also a key bearish trend line forming with resistance near 1.2560 on the same chart. The trend line is close to the 50% Fib retracement level of the recent decline from the 1.2653 high to 1.2473 low.
To move into a positive zone, GBP/USD must break the 1.2550 and 1.2600 resistance levels. If not, there are chances of more losses below the 1.2500 and 1.2475 support levels in the near term. The next major support is seen near the 1.2420 level.
See more: https://www.fxopen.blog/gbp-usd-and-...g-more-losses/

EUR/USD AND USD/JPY REMAIN AT RISK OF MORE LOSSES

EUR/USD failed to stay above 1.1320 and started a downward move towards 1.1200. USD/JPY is currently trading in a bearish zone below the 107.80 and 108.00 resistance levels.

EUR/USD Technical Analysis

This week, the Euro gained traction above the 1.1320 resistance zone against the US Dollar. The EUR/USD pair even broke the 1.1380 resistance and spiked above the 1.1400 level.
However, it failed to stay in a positive zone and recently started a sharp decline below 1.1350. There was a break below the 1.1320 support level and the pair settled below the 50 hourly simple moving average.

The recent low was formed near 1.1228 on FXOpen and the pair is currently correcting higher. It broke the 23.6% Fib retracement level of the recent decline from the 1.1353 high to 1.1228 low.
On the upside, an initial resistance is seen near the 1.1290 level and the 50 hourly simple moving average. The 50% Fib retracement level of the recent decline from the 1.1353 high to 1.1228 low is also near the 1.1290 level.
There is also a key bearish trend line forming with resistance near 1.1320 on the hourly chart of EUR/USD. Therefore, the pair must surpass the 1.1290 and 1.1320 resistance levels to move into a positive zone.
Conversely, EUR/USD could remain in a bearish zone and continue lower below 1.1250. The first key support is near the 1.1220 level, below which there are high chances of more losses towards the 1.1150 level.
See more: https://www.fxopen.blog/eur-usd-and-...f-more-losses/