Daily Technical Analysis FXOpen

[radex78]

GBPUSD outlook


The highest interest rates by the Federal Reserve and the European Central Bank will probably keep investors busy this week, and also the UK general election which will determine the direction of Brexit.

The market will also be watching the headlines of US President Donald Trump's global trade war ahead of the upcoming December 15 deadline for a new stage of US tariffs on Chinese imports.

The US dollar rose on Friday, stopping five days of losses in a row, as data showed the US economy created far more jobs than expected in November which underlined expectations that the Fed will remain stable after cutting interest rates three times this year.

Dollar profit is still normal despite strong employment figures, however. The greenback was hit earlier in the week due to the many bleak figures on private payrolls, services, manufacturing and construction spending, all of which indicate that the economy is slowing down.

Friday's employment report provides relief from all pessimism and from the ongoing uncertainty over the status of US-China trade negotiations.

The dollar still posted its worst weekly percentage loss in more than a month despite Friday's gains.

Source reuters

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[radex78]

EUR/GBP Technical Analysis

The Euro remained in a bearish zone below 0.8550 against the British Pound. The EUR/GBP pair broke a few key supports near the 0.8460 level to enter a bearish zone.

Moreover, there was a close below the 0.8440 level and the 50 hourly simple moving average. The pair traded as low as 0.8410 and it is currently consolidating losses.

Read more https://www.fxopen.blog/gbp-usd-and-eur-gbp-british-pound-surging/

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[radex78]

JUSD/CHF Technical Analysis

The US Dollar remained under a lot of selling pressure below the 1.0000 handle against the Swiss franc. The USD/CHF pair followed a bearish path below the 0.9950 and 0.9900 levels.

Moreover, the pair settled below the 0.9900 area and the 50 hourly simple moving average. The recent decline was such that the pair even broke the 0.9850 support and traded as low as 0.9833.

Read more https://www.fxopen.blog/eur-usd-could-rise-further-while-usd-chf-is-sliding/

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[radex78]

EOS/USD Analysis


From Sunday when the price of EOS was sitting at $2.776 at its highest point we have seen a decrease of 8% measured to today’s lowest point at $2.554. The price is currently being traded slightly above today’s low but is showing early signs of minor reversal developing.

Looking at the hourly chart, we can see that the price of EOS hasn’t fallen back to the levels of the prior low like we have seen in the case o Litecoin but a similar pattern is developing as we have seen a descending triangle forming from the end of November. This means that a similar expectation is made although we might not see a retest of the prior low for the completion of the ending diagonal.

Read more https://www.fxopen.blog/ltc-and-eos-is-reversal-soon-to-start/

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[radex78]

NZD/USD Technical Analysis


The New Zealand Dollar also followed a bullish path from the 0.6525 support area against the US Dollar. The NZD/USD pair broke a few key resistances near 0.6575 to enter a positive zone.

Moreover, the pair settled above the 0.6600 level and the 50 hourly simple moving average. More importantly, there was a break above a bullish flag pattern with resistance near 0.6595 on the hourly chart of NZD/USD.

Finally, the pair rallied above the 0.6620 level and a high was formed near the 0.6635 level. Recently, the pair corrected lower below 0.6620. It also broke the 23.6% Fib retracement level of the recent wave from the 0.6574 low to 0.6635 high.

However, the 0.6605 and 0.6600 support levels are acting as strong buy zones. Besides, the 50% Fib retracement level of the recent wave from the 0.6574 low to 0.6635 high is also near the 0.6605 level.

Read more https://www.fxopen.blog/aud-usd-and-nzd-usd-primed-for-more-gains/

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[radex78]

Trading hours on Christmas and the New Year 2020

YTH Client,
YTH Client, Please pay attention to changes in trading session times on Christmas and New Year 2020.


Tuesday, December 24, 2019

Forex - normal trading hours
Crypto - normal trading hours
Metal - trading closes at 20:45 (GMT + 2)
Oil and Gas - trading closes at 20.30 (GMT + 2)
Index:
Australia 200 - trading closes at 05.30 (GMT + 2)
Europe 50 - trading closes
France 40 - trading closes at 15:00 (GMT + 2)
Germany 30 - trading is closed
Germany 30 (Mini) - trading is closed
Japan 225 - trading closes at 20:15 (GMT + 2)
UK 100 - trading closes at 14:50 (GMT + 2)
US SPX 500 - trading closes at 20:15 (GMT + 2)
US SPX 500 (Mini) - trading closes at 20:15 (GMT + 2)
US Tech 100 - trading closes at 20:15 (GMT + 2)
US Tech 100 (Mini) - trading closes at 20:15 (GMT + 2)
Wall Street 30 - trading closes at 20:15 (GMT + 2)
Wall Street 30 (Mini) - trading closes at 20:15 (GMT + 2)

Wednesday, December 25, 2019
Only crypto pairs can be traded. All other markets are closed.


Thursday, December 26, 2019

Forex, Crypto, Metal, Oil and Gas - normal trading hours
Index - trading closes.

Tuesday, December 31, 2019

Forex - normal trading hours
Crypto - normal trading hours
Metal - normal trading hours
Oil (WTI) and Gas - normal trading hours
Oil (Brent) - trading closes at 21:45 (GMT + 2)
Index:
Australia 200 - trading closes at 05.30 (GMT + 2)
Europe 50 - trading closes
France 40 - trading closes at 15: 000 (GMT + 2)
Germany 30 - trading is closed
Germany 30 (Mini) - trading is closed
Japan 225 - normal trading hours
UK 100 - trading closes at 14:50 (GMT + 2)
US SPX 500 - normal trading hours
US SPX 500 (Mini) - normal trading hours
US Tech 100 - normal trading hours
US Tech 100 (Mini) - normal trading hours
Wall Street 30 - normal trading hours
Wall Street 30 (mini) - normal trading hours

Wednesday, January 1, 2020

Only crypto can be traded. All other markets are closed.


Thursday, January 2, 2020

Normal trading hours for all pairs.



Please, consider this change when planning your trading activities this holiday season.

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[radex78]

USD/CAD Technical Analysis


The US Dollar followed a bearish path below the 1.3300 and 1.3250 levels against the Canadian Dollar. Besides, the USD/CAD pair settled below the 1.3200 support area.

It even traded below the 50 hourly simple moving average and 1.3160. A low was formed near 1.3150 and the pair is currently correcting higher.

It recently tested the 1.3180 resistance area, plus the 50% Fib retracement level of the latest decline from the 1.3204 high to 1.3159 low. On the upside, there are many resistances near 1.3180 and 1.3200.

More importantly, there are two major bearish trend lines forming with resistance near 1.3200 on the hourly chart. Above the trend lines, the pair could start a strong rise in the coming sessions.

The next major resistance is near the 1.3220 and 1.3240 levels. Any further gains could push the pair towards the 1.3300 level.


Read more https://www.fxopen.blog/gbp-usd-could-continue-higher-usd-cad-facing-hurdles/

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[radex78]

XRP/USD analysis


The price of Ripple has fallen below $0.2 mark for the first time after in two years. The downfall was made from $0.21881 on yesterday’s open to $0.19031 at its lowest spike today. Currently, the price is being traded at $0.19865 and is showing minor bullish signs.

Looking at the hourly chart, you can see that this downfall is like in the case of Bitcoin expected to end shortly as we have seen interaction with the descending support level with a large wick from the buyer’s side. The price would be expected to start moving to the upside now but potentially maintaining in a downtrend as it can be corrective in nature.

Another possibility can be that we have seen the end of the Y wave in which case today’s low is the last wave from the decline which started on the 7th of November. But my primary count is that we are seeing another ABC correction to the upside after which further depreciation could occur. In either way, from here I would be expecting an increase from which we are to evaluate the possibility.


Read more https://www.fxopen.blog/btc-and-xrp-interaction-with-key-support-made-recovery-coming-shortly/

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[radex78]

USD/JPY Technical Analysis


The US Dollar climbed higher nicely from the 108.50 support area against the Japanese Yen. As a result, the USD/JPY pair surged above the 109.00 and 109.20 resistance levels.

The pair even settled above 109.20 and the 50 hourly simple moving average. However, it struggled to gain pace above the 109.60 and 109.70 resistance levels.

A high was formed near 109.67 and the pair is currently correcting lower. It is testing the 50% Fib retracement level of the upward move from the 109.20 low to 109.67 high.

Moreover, there is a major bullish trend line in place with support near 109.40 on the hourly chart. Therefore, a downside break below 109.40 could push the pair towards the 109.20 support.

An intermediate support might be near the 76.4% Fib retracement level of the upward move from the 109.20 low to 109.67 high. If the pair struggles to stay above 109.20, it could start a fresh decline towards the 108.50 level.

On the upside, an initial resistance is near the triangle area at 109.55. However, the main resistance is still near the 109.60 and 109.70 levels. If there is a clear break above 109.70, USD/JPY could even surpass 110.00 in the near term.

Read more https://www.fxopen.blog/eur-usd-and-usd-jpy-at-risk-of-downsides/

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