Daily Technical Analysis FXOpen

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Technical analysis of BTC/USD

Changes in prices on Wednesday on the crypto instrument BTCUSD pair experienced a sharp decline.

The price opened at 9327 with the highest level 9385, and the price closed 8813 and the lowest was 8652.

At this time the price has rebounded and one bulls candle starts to emerge indicating seller pressure is starting to weaken.

But the bullish journey doesn't seem strong enough to push this pair back up, it's still one third of the previous candle, so today's high is still below the previous daily high.

There we see the stochastic indicator has entered the oversold zone, an indication of the trend is probably over.

But to show a reversal of the trend, confirmation of the stochastic line has not crossed yet.

This is different from the indicator line on the H1 timeframe where prices are currently on the upper line of the channel Donchian, and enter the overbought zone on the stochastic indicator.

The closest support is at 5562, while the closest resistance is at 8963.

If the decline is still strong enough it can bring prices to fall even deeper



Read more...for LTC and EOS analysis

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HOW THE CORONAVIRUS AFFECTS ON THE STOCK MARKETS

Contents

*DJIA – Rising Wedge or Running Triangle?
*ASX Follows Up
*Conclusion

The word’s stock markets hold relatively well, considering the panic surrounding the possible spread of the coronavirus. In 2019 the yields inverted in the United States for the first time since the great financial crisis, sparking fears of an upcoming recession.

But the Federal Reserve quickly reacted, cutting the rates to the USD to 1.75% and starting a program of buying T-bills worth of $60 billion a month. While it argues this is not a restart of quantitative easing, it has a similar effect on the Fed’s balance sheet – an exponential increase.

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“CRYPTOMANIA” — A NEW CONTEST FOR DEMO ACCOUNTS

FXOpen is launching “CryptoMania” – a new contest for demo accounts. Anyone can join the competition to test their ability in crypto trading. “CryptoMania” is a unique opportunity not only to gain invaluable trading experience, but also win a prize fund of 3,000 USD. Free participation. Start: March 9, 2020. Registration is open until 22nd March.

Join the contest

Conditions:

• 
  
  *Dates: March 9 – April 3, 2020;
  *Registration: is open now until 22nd March 2020;
  *Prize fund: 3,000 USD;
  *Free participation;
  *Number of winners: 10;
  *Account type: competition demo ECN;
  *Initial deposit: 5,000 USD;
  *Leverage: 1:10;
  *Commissions: 0.25 per side, 0.5 per turn;
  *EAs: allowed;
  *Locking: allowed;
  *Lot volume: from 0.10 to 1.00 (maximum 1 lot per order);
  *Trading instruments: 32 pairs with BTC, ETH, XRP, BCH, ETC, LTC, etc.;
  *Trading platform: MetaTrader 4.
  

More details…

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UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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EURJPY technical analysis


Changes in the price of EURJPY at the beginning of this week have formed a bullish candle, where after the decline at the end of last week it seems back to the EURJPY action trying to push up.

If we notice that the length of the candle is longer than the previous candle, this means that the resistance that occurs is stronger than before.

Furthermore, the resistance zone at EURJPY is the target at 121,396 highs, which is a level that needs attention because it might become a solid level.

The current movement at H1 prices slowly rises and the Donchian channel shows prices focusing on the upper line channel if this breakout scenario then the price will reach a higher level.

However, the concern is that the stochastics indicator at H1 has shown overbought, so it is a concern of traders for the possibility of reversing the direction of the trend.

Although at the daily timeframe the stochastic indicator is still in the middle zone and not yet overbought, traders need to place a stop loss in anticipation of an unexpected change



More GBPUSD, EURGBP analysis

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UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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FXOpen Launches Instant Bank Transfers in Indonesia and Vietnam


Dear Clients,

FXOpen is pleased to announce that we've added a new method of depositing and withdrawing funds. Clients from Indonesia and Vietnam can now carry out transactions via Instant Bank Transfers. Instant Bank Transfers are transactions made from an online bank account in a local currency.

To celebrate the launch, clients can deposit for free, paying 0% commission for the first month of use.

More details:

• Currencies: IDR, VND;
• Payment Processing Time: instant for depositing/ within 1 day for withdrawing;
• Minimum deposit: IDR 100,000; VND 100,000;
• Maximum deposit: IDR 24,000,000; VND 300,000,000;
• Deposit fee: 3.5% (min 2,500 IDR / VND);
• Minimum withdrawal: IDR 100,000; VND 30,000
• Maximum withdrawal: IDR 24,000,000; VND 300,000,000;
• Withdrawal fee: 2% (min 5,000 IDR / 10,000 VND).
  

Learn how to deposit and withdraw via Instant Bank Transfers in our knowledge base.

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FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)


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FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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On March 8th FXOpen Switches its Trading Servers to Summer Time (GMT+3)

On March 8th, 2020 FXOpen will switch its trading servers 1 hour ahead, from GMT +2
to GMT +3.

The change will affect all types of FXOpen trading accounts. In ECN, STP and Micro accounts summer time will take effect starting with the market opening on Monday, March 9th 2020. In Crypto accounts, where trading is available during the weekend, traders will experience the change immediately after it occurs, on Sunday, March 8th, 2020.

The changing of server time should not impact your open trades or the process of opening, placing, closing and modifying orders. However, keep this in mind when planning your trading and do not forget to adjust the time settings in your Indicators and Expert Advisors.

Follow the updates on Facebook, Twitter and Telegram.

FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)


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FXOpen
FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
Open account//Join FXOpen

 

[radex78]

On March 8th FXOpen Switches its Trading Servers to Summer Time (GMT+3)

On March 8th, 2020 FXOpen will switch its trading servers 1 hour ahead, from GMT +2
to GMT +3.

The change will affect all types of FXOpen trading accounts. In ECN, STP and Micro accounts summer time will take effect starting with the market opening on Monday, March 9th 2020. In Crypto accounts, where trading is available during the weekend, traders will experience the change immediately after it occurs, on Sunday, March 8th, 2020.

The changing of server time should not impact your open trades or the process of opening, placing, closing and modifying orders. However, keep this in mind when planning your trading and do not forget to adjust the time settings in your Indicators and Expert Advisors.

Follow the updates on Facebook, Twitter and Telegram.

FXOpen Customer Service
E-mail: [email protected]
Live Chat (24/5)


Read more...

Subscribe our FXOpen Youtube Channel

FXOpen
FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
Open account//Join FXOpen

 

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EURJPY technical analysis

EURJPY pair is in a moving phase in the daily range, 119,654 is the standard pivot point value for this pair.

The lowest price in the daily range is at 118,114 which is the closest support zone at the daily timeframe. While the resistance zone is at 121,445 which is the highest price in the weekly swing.

At H1 we see there is a bearish movement that is running and has formed a bearish candle as previously thought.

The price may penetrate the support level if the selling pressure gets higher, but it does not rule out the possibility that the price may return to the top zone.

The RSI indicator shows the level of 43.36 which is an important level of support and resistance, where the trend is still in a bearish period.

• Pivot point = 119.54
• R1 = 120,930
• R2 = 122,671
• S1 = 117,913
• S2 = 116.37

Read LTC and EOS analysis

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Technical analysis of BTC USD

This crypto pair is a popular pair for crypto mania traders.

You can also take part in the crypto mania contest at forexcup.com with a large prize.

At the moment the BTCUSD has moved up about 0.29% from the open price, but the price is still below the level of the pivot point which according to balance the pivot is in a bearish trend.

If the price breaks the pivot level up, then a new bullish trend will be formed with the possibility to continue rising up to the level of R1 9884.

But we look at the H1 timeframe, at the moment the price is above the pivot point and the price movement is still in a consolidation phase or sideways, moving in an hourly range.

The 8989 pivot point level becomes solid support and allows higher bounce.

At H1 the RSI value is 52, as an indication of an upward trend, but returning to the daily timeframe, the RSI value at number 48, is still not synchronous between the two, which one will be chosen as a reference, in the short term H1 is more accurate than the daily

Daily pivot point

PP 9158

R1 9884

S1 7807

S2 7081

Read Gold and Crude oil analysis

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BTCUSD technical analysis

The BTCUSD crypto currency pair has fallen again in yesterday's trading, it is at the level of 8178 which allows the price to move towards the S1 level at 7807.

Bearish sentiment still dominates the pair, after on 6 March it managed to rise to the level of pivot point 9158.

But there has been no breakout so that the bearish trend finally won the fight which caused the price to free fall down this morning.

While the RSI indicator shows the number 34, which means that the price is currently entering oversold, which is a vigilant warning of a trend reversal

Pivot point 9158

R1 9884

S1 7807

S2 7081
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