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Daily Technical Analysis FXOpen

radex78

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LTC AND EOS - FURTHER DOWNSIDE MORE LIKELY

  • LTC/USD
    The price of Litecoin has been in a decline from Saturday’s high when it came up to $247. From there we have seen a downfall of 35.8% measured to its lowest point of the week made on Tuesday at $158.56. We have seen a minor recovery as the price made a rise to the $190 area but has since pulled back again and is currently sitting just below $180.
  • EOS/USD
    From Tuesday’s low at $3.18 the price of EOS has recovered by 29% as it came up to $4,107 at its highest point but started decreasing again and is currently sitting at around $3.935 moving sideways.

Read more...

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ForexCup Trading Championship 2021, a contest for traders to win $50,000, is now live!

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FXOpen, a trusted global CFD and Forex broker is proud to announce the launch of the ForexCup Trading Championship 2021. The contest with the main prize of $50,000 runs from January 1 to December 31, 2021, and is available to all traders with active FXOpen accounts.

The ForexCup Trading Championship is a one-of-a-kind contest designed to engage investors, traders, and portfolio managers in fair and reliable global competition. For an entire year, participants will compete for the title of the best and for a hefty cash prize of 50,000 U.S. dollars, which will go to whoever demonstrates the most profit at the end of the year 2021.
  • The contest is available to anyone who has an active FXOpen ECN account. The only requirement is to have a minimum trading deposit and follow the contest rules.
  • Participants can choose any instruments available within their jurisdictions: spot FX, Index, Commodity, Stock, Metal or Crypto CFDs.
  • Three personalized crystal trophies are prepared for the first three places, and the trader who takes the first place will receive a cash prize of $50,000 without any additional conditions.

Forex Trading Championship is a brand-new name among other trading competitions, but it has a big legacy. With the support of renowned partners, including global Forex and ECN broker FXOpen, the championship provides an opportunity for you to compete with the best and put your trading strategies to the test!

“We launched the ForexCup Trading Championship to provide our clients the unique opportunity to test not only themselves but to measure and compare their trading skills against their peers, to take the coveted position of Top Trader. Ultimately, we hope this will identify and inspire the next generation of Forex enthusiasts,” Gary Thomson asserts, the Chief Operating Officer of FXOpen UK.

Anyone interested can sign up now or read more about Forex Trading Championship rules and philosophy here

Source

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10$ No Deposit Bonus for TickTrader ECN Accounts//Join FXOpen
 

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Join the “Money Managers” contest and win up to $5,000

FXOpen invites traders to participate in "Money Managers", a contest with real PAMM accounts. Don't miss your chance to win big money prizes totaling 10,000 USD! The contest starts on March 1, 2021, and registration will be open for 2 months untilMay 1.

MoneyManager%20new_en.png



Contest conditions

  • Contest dates: March 1 — 30 June, 2021;
  • Registration period: from now till May 1, 2021;
  • Prize fund: USD 10,000;
  • Rewards:
    • 1st place - USD 5,000;
    • 2nd place - USD 3,000;
    • 3rd place - USD 2,000.
The prize will be added to an investment account according to 50/50 offer (50% of the profit goes to the Manager, 50% - to the investor (the Company)
  • .
  • Initial deposit: the minimum amount required to open a PAMM account (from 1,000 USD for PAMM ECN, from 200 USD for PAMM STP, 1,000 USD for PAMM Crypto);
  • Minimum trading period: two months;
  • Minimum number of trades per week/ during the contest: 5/ 80;
  • Trading volume: not less than 1 lot per stage;
  • Contest profit: minimum 30% of the deposit;
  • The drawdown should not exceed 20% in the period from the moment the contest starts until the prize money is credited (the prize money is credited within 5 working days from the moment the contest ends in case of an open offer);
  • Short-term drawdown shown in rollover should not exceed 20% after the prize money is credited, and the drawdown not shown in rollover should not exceed 25%.


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RISING YIELDS SPARK DOLLAR’S RALLY
usd.jpg


Financial market participants were taken by surprise last week. The US dollar, on a steady decline since April of last year, has pared losses and started to rally.

It gained across the board, trading higher against the euro, the pound, or the Australian dollar. The move higher in the dollar comes against all forecasts at the end of last year. Investment banks across the world forecasted a lower dollar to be the theme for the entire 2021, but that trend lasted only for the first two months of the year.

The move higher in the dollar was sparked by a dramatic increase in the US 10y yields. The Treasury yield is already at the end-2021 forecast, with only two months ended in the trading year.

Higher Yields, Higher Dollar

The rising yields pose a threat to the reflation theme and the risk-on environment. Whenever yields are rising, the rise brings an unwanted tightening in financial conditions.

At this point, investors are speculating that the tightening of financial conditions during a pandemic will trigger more action from some central banks. However, the Fed looks trapped due to higher inflation and the Treasury issuance plan. Therefore, the chances are that other central banks, in particular the ECB and the RBA, will likely ease, further fueling the move higher in the dollar.

The EURUSD and the AUDUSD pairs lows over two big figures last week, and the trend lower continues. At the time of writing this article, the EURUSD traded close to 1.20, after only last Thursday it was as high as 1.2240. The move lower is almost vertical, and the same is seen on the AUDUSD pair.

In other words, this is a higher dollar move triggered by financial tightening and the risk-on environment changed. Should we see, yields continuing to rise, the dollar’s strength will continue as well.

This is the NFP week, and trading is tricky until the jobs data is released next Friday. However, this time the release may not be so relevant for markets unless the yields give away some of the recent games.

Also, investors will focus on what the RBA will do tomorrow, as well as the signals from the ECB. Any signs of further easing should trigger a new leg lower in the EURUSD and AUDUSD pairs.

Read more...

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BTC AND XRP – BREAKOUT SEEN BUT FIRST RESISTANCE ENCOUNTERED

  • BTC/USD
    From Sunday’s low at around $43,070, the price of Bitcoin came up $49,579 at its highest point today which was a recovery of 15%. Since today’s high, we have seen a minor pullback but the price is still in an upward trajectory overall. This recovery of 15% was a breakout from the descending triangle that formed from the 25th of February and was the 3rd sub-wave from the correctional move that started on the 21st.
  • XRP/USD
    The price of Ripple has also been increasing from Sunday and came up from $0.396 to $0.45325 at its highest point today, which was an increase of 14.44%. Currently, it is being traded at $0.44327 and is moving sideways. The price of Ripple made a breakout from its descendent triangle as well but unlike in the case of Bitcoin hasn’t exceeded its prior local high, but instead found resistance at its levels.

    Read more...

    # Cryptocurrency # BTCUSD #XRPUSD #Ripple #Bitcoin #Cryptocurrency #Crypto

    btc-xrp.jpg


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EUR/USD FACING HURDLES, USD/JPY GAINS BULLISH MOMENTUM

EUR/USD declined towards 1.2000 before recovering higher. USD/JPY is following a strong uptrend and it even broke the 106.50 resistance zone.

Important Takeaways for EUR/USD and USD/JPY

  • The Euro tested the 1.2000 support zone and it is now recovering higher.
  • There was a break above a steep bearish trend line with resistance near 1.2020 on the hourly chart of EUR/USD.
  • USD/JPY climbed above the 106.00 and 106.50 resistance levels.
  • There is a major bullish trend line forming with support at 106.70 on the hourly chart.

EUR/USD Technical Analysis
This past week, the Euro topped near the 1.2245 before starting a fresh decline against the US Dollar. The EUR/USD pair broke the 1.2150 and 1.2120 support levels to move into a bearish zone.

The pair even broke the 1.2080 support level and the 50 hourly simple moving average. Finally, there was a spike below the 1.2000 support and the pair traded as low as 1.1991 on FXOpen.

USD/JPY Technical Analysis
The US Dollar started a strong increase above the 105.00 and 105.50 resistance levels against the Japanese Yen. The USD/JPY pair even cleared the 106.00 level to move into a positive zone.

It gained pace and climbed steadily above the 106.50 resistance. A high is formed near 106.95 and the pair settled nicely above the 50 hourly simple moving average. There was a minor downside correction below the 106.60 level.

Read more
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LTC AND EOS – LOOKING FOR SUPPORT

  • LTC/USD
    The price of Litecoin has been on the rise since the start of the month and came up from $154 to $197.24 at its highest point so far which was an increase of 28%. Since yesterday’s high we have seen a pullback to the $182 level above which it is currently being traded.
  • EOS/USD
    Similarly like in the case of Litecoin, the price of EOS has been on the rise since the start of the month and made an increase of 21.4%, coming from $3.31 to just slightly above $4 at its highest point yesterday. Currently, it is being traded at $3.779 as a minor pullback was made.

Read more...

ltc.png


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FXOpen
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FXOpen EU is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13.
FCA+ASIC+CySEC
 

radex78

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Join the “Money Managers” contest and win up to $5,000

FXOpen invites traders to participate in "Money Managers", a contest with real PAMM accounts. Don't miss your chance to win big money prizes totaling 10,000 USD! The contest starts on March 1, 2021, and registration will be open for 2 months untilMay 1.

MoneyManager%20new_en.png



Contest conditions

  • Contest dates: March 1 — 30 June, 2021;
  • Registration period: from now till May 1, 2021;
  • Prize fund: USD 10,000;
  • Rewards:
    • 1st place - USD 5,000;
    • 2nd place - USD 3,000;
    • 3rd place - USD 2,000.
The prize will be added to an investment account according to 50/50 offer (50% of the profit goes to the Manager, 50% - to the investor (the Company)
  • .
  • Initial deposit: the minimum amount required to open a PAMM account (from 1,000 USD for PAMM ECN, from 200 USD for PAMM STP, 1,000 USD for PAMM Crypto);
  • Minimum trading period: two months;
  • Minimum number of trades per week/ during the contest: 5/ 80;
  • Trading volume: not less than 1 lot per stage;
  • Contest profit: minimum 30% of the deposit;
  • The drawdown should not exceed 20% in the period from the moment the contest starts until the prize money is credited (the prize money is credited within 5 working days from the moment the contest ends in case of an open offer);
  • Short-term drawdown shown in rollover should not exceed 20% after the prize money is credited, and the drawdown not shown in rollover should not exceed 25%.


    Read more...
 

radex78

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Trade Crypto and Stocks CFDs from one ECN account!

TT%20one%20acc1_en.png


Dear Clients,

FXOpen is happy to announce that we have made our trading environment even more efficient and convenient for you! Clients with ECN accounts who trade on MetaTrader 4 and MetaTrader 5 platforms can now trade crypto and stocks CFDs from one ECN account. Available leverage for Stocks CFDs is 1: 5, for crypto CFDs is 1: 3.


We now offer popular stocks among traders such as Apple Inc., Walt Disney Co., Bank of America Corp., Coca-Cola Co. and others, as well as the most popular cryptocurrencies, including [b[Bitcoin, Ethereum, Litecoin, Ripple[/b]. There are more than 100 new instruments available for trading on the MT4 and MT5 platforms. Learn more….

We would also like to inform you that clients who trade on the TickTrader platform now have access to even more trading instruments - over 600 CFDs on the most popular stocks and cryptocurrencies.


Read more...

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FXOpen+ Fxopen.eu
FXOpen EU is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13.
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10$ No Deposit Bonus for TickTrader ECN Accounts//Join FXOpen
 

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GBP/USD TURNS RED WHILE GBP/JPY COULD RISE FURTHER

GBP/USD surged above 1.4150 before starting a fresh decline below 1.4000. GBP/JPY is rising and it remains supported for more gains above 150.50

Important Takeaways for GBP/USD and GBP/JPY

  • The British Pound started a fresh decline below the 1.4000 support zone against the US Dollar.
  • There was a break below a rising channel with support near 1.3925 on the hourly chart of GBP/USD.
  • GBP/JPY climbed higher steadily above the 149.00 and 150.00 resistance levels.
  • There is a major bullish trend line forming with support near 149.70 on the hourly chart.

GBP/USD Technical Analysis
This past week, the British Pound topped near the 1.4200 level against the US Dollar. The GBP/USD pair started a fresh decline and traded below many key supports near the 1.4100 level.

GBP/JPY Technical Analysis
The British Pound started a strong increase from the 148.00 resistance against the Japanese Yen. The GBP/JPY pair even cleared the 149.00 and 150.00 resistance levels to move further into a positive zone.

Read more...

gbp-1.jpg


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FXOpen EU is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13.
FCA+ASIC+CySEC
 
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