LTC AND EOS – CONSOLIDATION EXPECTED BEFORE FURTHER UPSIDE
LTC/USD
The price of Litecoin has been increasing since the start of the week and from Monday’s low at $79.215 we have seen a rise of 29.75% measured to its highest point today at $102.781. Currently, the price is being traded slightly lower as a minor pullback was made and is sitting just below the $100 mark. Monday’s low was a corrective move made after the interaction with the $84 horizontal level which was the end of the first impulse wave out of a five-wave move that started on the 11th.
EOS/USD
From Monday’s low at $2.8 the price has increased by 13.46% as it came up to $3.182 at its highest point today. It is still in an upward trajectory and is showing strong bullish momentum.
The price made a breakout above the $2.9 resistance zone with a significant rise made in one hour and continued moving to the upside, further increasing inside the upper range. Like in the case of Litecoin, this increase seen from Monday is the 3rd wave out of the next five-wave impulse to the upside.
More information about cryptocurrencies you can read on FXOpen blog: http://bit.ly/3gTDi9Y
FXOpen Launches Local Bank Transfers in Argentina, Brazil, and Mexico
Dear Clients,
FXOpen is pleased to announce that we've added new methods of depositing funds. Clients from Argentina, Brazil, and Mexico can now carry out transactions via local bank transfers: Rapipago, `Boleto Bancário and Oxxo.
Rapipago is an Argentinian prepaid payment method used for online purchases. The system generates a voucher that can be paid offline at one of the 6000+ Rapipago payment locations. Rapipago supports payments between 1200+ companies and their consumers — around 19 million transactions per month. Rapipago’s card, check, and cash-based transactions ultimately collect money on behalf of merchants and utility firms.
OXXO is a chain of convenience stores that offers alternative cash payments in Mexico. Around 71 million Mexicans do not own a bank account, and OXXO allows merchants to tap into this substantial group of online buyers. With more than 16,000 stores across the country, consumers can pay for their online purchases in cash, and merchants have a zero chance of a chargeback.
Boleto Bancário is an official Brazilian payment method regulated by the Central Bank of Brazil. It is a push payment system which was launched in 1993 and today generates 3.7 billion transactions per year. Accounting for around 25% of all online payment transactions, it is a must for doing business in Brazil.
FINANCIAL MARKETS AT RISK AS THE VIRUS LOCKS EUROPE DOWN
The markets opened with a bearish tone as there is a new turn of events on the pandemic course. Over the weekend, the news that a new virus’ variant circulates in the United Kingdom caused panic in Europe. According to the UK authorities, the new variant spreads faster, and that poses a risk for the period ahead.
Quickly after the announcement, several European countries suspended their flights to the United Kingdom, in a move that signals the harsh lockdown in place in Europe. As such, the market is at risk of declining due to the lack of liquidity characteristic this time of the year.
The Fed Remains Dovish
Last week’s main event was the Federal Reserve meeting and interest rate decision. The Fed chooses to do nothing at this meeting, but it kept a dovish tone.
During the press conference, the Fed’s Chair Powell said that the central bank reopened the USD swap lines and that it will keep the Quantitative Easing (QE) program at the same pace of $120 billion. Much of the focus of last week’s meeting was to see if the Fed hints at changing the focus of the bond-buying. So far, the focus was on shorter-term maturities, but rumors in the market suggested that the Fed may switch to longer-term maturities.
EUR/USD AND USD/JPY APPROACHING NEXT CRUCIAL BREAKOUT
Contents
Important Takeaways for EUR/USD and USD/JPY
EUR/USD Technical Analysis
USD/JPY Technical Analysis
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.
Important Takeaways for EUR/USD and USD/JPY
The Euro seems to be facing a strong resistance near 1.2250 and 1.2260.
There is a major bullish trend line forming with support near 1.2160 on the hourly chart of EUR/USD.
USD/JPY is rising steadily and it is well above the 103.20 support level.
There is a key contracting triangle forming with support near 103.45 on the hourly chart.
WELCOME TO 2021 WITH FXOPEN. THANK YOU FOR TRADING WITH US!
First of all, let us thank you for being FXOpen’s loyal clients. We do and will continue to do everything in our power to provide you with the best user experience possible, especially at such an important time for the markets. In 2020, we were able to put on a few exciting initiatives — with your help, of course. And this little digest is designed so that we can celebrate our accomplishments together. Let’s go!
More trades, more traders!
We are incredibly happy that so many traders trust us, both beginners and professionals. Each of you is very important for FXOpen, and we want you to have access to the markets and instruments that are profitable for you.
The trader centricity concept embodied
We constantly monitor market news and customers’ requests to match the image of the broker that puts traders’ interests first. Observing the growing demand for trading in complementary products like stock CFDs, we provide the opportunity to trade multiple asset classes from a single account on the TickTrader trading platform — Forex, stocks, indices, crypto, and commodities. At the moment, 600+ stock CFDs are available for trading. We have also reviewed our relationships with liquidity providers, and can now provide you with some of the best prices on the market. As a cute bonus, we also added branded stickers and Instagram masks for those traders who are active users of social media.
FXOpen around the world
Clients from all over the world are equally important to us, that’s why we try to make FXOpen services available in as many different regulations as possible. And we are very proud to have a new Cyprus broker as part of our family. Since August 2020, it has been offering quality services under the name FXOpen EU, allowing the company to strengthen the brand presence within the European region.
FXOpen team growing strong
We’ve grown significantly over 2020, which means that next year we’ll be able to provide you with even more profitable opportunities and introduce new solutions for seamless trading. Each member of our team makes every effort to ensure that you have the tools and information you need. We have enough resources to fulfill your requirements with the highest quality. At the same time, we do not practice enterprise methods, and take a personal approach to every client issue.
A new solution to ensure maximum trading comfort
Our main task is to provide our clients with all opportunities for profitable trading. We want traders to make money, that’s the whole point of our functioning model. For a comprehensive trading experience, you need an appropriate platform with the widest functionality, and we believe that TickTrader is the solution. It’s easy to use, and it meets the multitude of requirements from every type of trader, from beginner to institutional.
Stay tuned for new updates in 2021!
Of course, we’re not ready to rest on our oars. FXOpen is looking forward to bringing you some important updates in 2021. FXOpen prime is a top-notch institutional trading solution that is aimed at professional traders, with tight pricing and consistent execution. Also, the knowledge base will get a sleeker look and easier navigation, and the FXOpen website will get a brand new layout — we’ll refrain from spoilers for now, but you will surely like it. And last but not least, for those who are ready to demonstrate their skills in trading and want to win a big money prize, we have a special event arranged!
Stay tuned!
Thank you!
MERRY CHRISTMAS AND HAPPY NEW YEAR!
SEE YOU IN 2021!
FOREXCUP TRADING CHAMPIONSHIP is a brand-new name in trading championships with a great legacy. With the support of renowned partners, including global forex and CFD broker FXOpen, this is your opportunity to prove your mettle in the trading world.
We commit to providing you with a fair and reliable competition, to allow you to solely focus on your trading and strategies, giving you the best opportunity to prove yourself as the Top Trader.
The only limitation is your self-confidence
Anyone with an FXOpen account can participate in the championship; the only condition is meeting the minimum deposit and ensuring compliance with the rules.
The winners receive:
a cash prize of $50,000 (first place);
signature Crystal Trophies (first three places);
personal brand promotion in press releases, interviews, and articles from the Championship Provider and its partners (first three places).
Trade any instrument
Choose from spot FX, Index, Commodity, Stock, Metal or Crypto CFDs* and start trading.
*Crypto CFDs are not available to trade in all jurisdictions.
No restrictions on fair trading methods
Traders may use any legal strategies — day trading, long positions, EAs. The winner is the trader who demonstrates the most profit at the end of the year. You can read more about the contest rules here.
It's hard to argue with the fact that 2020 was oversaturated with controversial events of all sorts, and everyone hopes that the year 2021 will allow us to return to the normal boring life that many have missed so much. 2020 was the year of the pandemic, so the resources of almost every country without exception were drained by the lockdown. However, as vaccines and effective therapies become available, the economy may well see a global renaissance. Below are 10 investment trends to look forward to in 2021.
1. Cooperation domains in the COVID-19 climate. The evolution of collaboration between people and different businesses continues to grow, and never has the pace of this evolution been as fast as it is now.
2. Innovative healthcare solutions implementation. COVID-19 reminded us, albeit not in the most pleasant way, that medicine also needs development and financing in all areas without exception.
3. Transformation of society and social connections. While we are waiting for the economy to reboot, many social norms have undergone a significant change.
4. The exponential growth of Internet commerce. The transition of traditional commerce to online began long before the pandemic, but COVID-19 has made almost all consumers appreciate the convenience of online shopping.
5. Smaller caps performance. They can easily outpace large-cap U.S. stocks.
6. International equities may return to their previous state. While many investors understand the benefits of asset diversification, this does not always extend to geographic diversification.
7. Investments in environmentally friendly assets and technologies are becoming widespread. Many studies suggest that companies with a good balance of environmental, social and management practices often successfully achieve and often exceed the performance of their more traditional competitors.
8. Dividend-paying stocks used for growth and earnings purposes. Dividends accounted for 42% of the total return of the S&P500 Index over the 1930-2019 period.
9. Preferreds are becoming a priority source of potential income. One type of security that investors tend to forget about or may not be aware of is preferred.
10. High demand for municipal bonds. Demand for municipal bonds (and strategies related to municipal bonds) is likely to remain high for the foreseeable future as investors continue to search for attractive alternatives.
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.
Important Takeaways for GBP/USD and GBP/JPY
The British Pound climbed higher above the 1.3500 and 1.3550 resistance levels.
There is a key bullish trend line forming with support near 1.3555 on the hourly chart of GBP/USD.
GBP/JPY also climbed higher steadily above the 139.50 and 140.00 resistance levels.
There is a major bullish trend line forming with support near 140.30 on the hourly chart.
