Daily Technical Analysis FXOpen

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EOS/USD analysis


From Monday’s high at $2.56 the price of EOS has decreased by 15.23% measured to the lowest point the price has been this week which is at $2.17 made yesterday. But the price started moving to the upside impulsively from yesterday’s low and came back to $2.511 which is an increased of 15.56%. the price is being traded at $2.46 and is consolidating.

On the hourly chart, we can see that the price fell below the 1.272 Fibonacci level which was the prior low and presumed to be the ending point of the 3rd wave of a lower degree from a five-wave move to the downside which is considered a C wave of a higher degree. Like in the case of Litecoin we have seen a spike to the upside but in EOS’s case, the price hasn’t found resistance at the prior horizontal level and only made a minor retracement.

We could have seen the completion of the C wave and with it, the Z wave of a higher degree count in which case the spike was seen could be an early sign of the expected recovery. This is soon to be validated by the price momentum but if it continues moving above the $2.54 level it would most likely indicate that. If the price, however, starts decreasing from here it could indicate that the spike was corrective and should be viewed as the part of the same correction as the previous increase.

Read more https://www.fxopen.blog/ltc-and-eos-has-the-expected-recovery-started/

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Merry Christmas and Happy New 2020

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100 000 BTC FOR HAN SOLO’S HEAD. HOW ‘PROTO-CRYPTO’ WORKS IN THE STAR WARS UNIVERSE

Contents
1. Versatility
2. Usability
3. Security
4. Independence
Is it truly a proto-crypto?

We love Star Wars primarily for space battles and lightsaber fights between brave Jedi and sly Sith. However, like in any fictional universe with carefully thought-out lore, there are no unshaped details in the galaxy far, far away. This includes the economy and cash turnover. In fact, the most popular unit of money in Star Wars is essentially a prototype of cryptocurrency. We are going to explore the reasons why.

1. Versatility

As we know from iconic episodes of the franchise, the economy of the Star Wars universe is based on the work of contractors of all kinds, whether legal or not. They are engineers, pilots, scavengers, smugglers, guns-for-hire, bounty hunters, you name them. Their fragile shoulders (or what they have instead of shoulders) hold all the burden of goods and money relationships.

Effective money cycling in such an environment requires a currency with specific features — unified and suitable for any type of operation. As with cryptos, credits are available to settle payments for both private individuals and giant corporations. The language of credit is understood by any intelligent race inhabiting any of these worlds, be it wookie or twi’leks.

Some planets did not accept credits because they wanted to make payments in “real” money. We observe a similar situation in different regions of our planet — but it is improving. Countries with the most conservative approach, such as Russia, are working to bring this market out of the shadows. To date, Singapore and Switzerland have made the most progress in this direction.



Read more https://www.fxopen.blog/100-000-btc...proto-crypto-works-in-the-star-wars-universe/

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EUR/GBP Technical Analysis


The Euro started a strong rise from the 0.8275 swing low against the British Pound. The EUR/GBP pair broke many resistances near the 0.8380 and 0.8400 levels to move into a positive zone.

Moreover, there was a close above the 0.8450 level and the 50 hourly simple moving average. Finally, the pair rallied above 0.8500 and traded as high as 0.8555.

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

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XRP/USD analysis

The price of Ripple has been struggling to get above the $0.2 mark ever since it fell below it last week. It is currently being traded at around $0.19130 and is in a downward trajectory.

Looking at the hourly chart, you can see that the price retested the descending support level for resistance as it fell below it last week and has finally found resistance there which is starting to cause another downturn. From last week’s low, we have seen the formation of the ascending triangle in which a five-wave move was made and can be interpreted as a leading diagonal from the starting uptrend. In that case, the currently seen depreciation is only a minor retracement before the next impulsive move to the upside starts.

Read more https://www.fxopen.blog/btc-and-xrp-increase-could-be-corrective/

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GBPUSD analysis

The pair has shown price movements with a bearish tendency from the weekly time frame, over the past two weeks dominating a significant decline.

At Christmas this year, it seems that many market participants are also on vacation which causes the market to be less enthusiastic, where the rate of price development is in normal conditions.

The next development is those market participants will always monitor changes in political and economic conditions, between China and America still interesting news to always be followed because the impact will be global.

While the issue of Brexit should also be considered in addition to using technical analysis.

Although currently with the MACD and PSAR the GBPUSD pair is bearish, it may change direction because at the H1 timeframe both indicators show an unconfirmed buy signal

Further is to wait for market developments, and plan to trade by giving tolerance limits in taking risks

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[radex78]

EOS/USD analysis


Like in the case of Litecoin, the price of EOS has recovered significantly from last Wednesday when it was sitting at $2.19 at its lowest point, coming to $2.6 at its highest on Monday this week which was an increase of 18.6%. Currently, the price is being traded at around $2.49 as it was in a downward trajectory since the start of the week.

As you can see by looking at the hourly chart, I was expecting this spike to the upside but as the beginning of the larger recovery. A five-wave move to the upside developed which could be the 1st sub-wave of the higher degree impulse wave. If this is true then the decline seen from Monday is its 2nd wave developing which can push the price all the way back to the prior low although unlikely.

More likely we are to see a retest of the prior higher low at 1.272 Fib level before further uptrend continuation if this is a starting impulse. If the price, however, goes below the 1.272 Fibonacci level it will indicate that the spike seen from last Wednesday till Monday this week could have been the C wave out of the ABC to the upside with further lows ahead.

Read more https://www.fxopen.blog/ltc-and-eos-starting-impulse-or-a-c-wave/

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GBP/JPY Technical Analysis


In the past few days, the British Pound declined heavily from well above the 145.00 level against the Japanese Yen. The GBP/JPY pair broke many supports near the 144.00 and 142.00 levels.

Moreover, the price settled below the 142.00 level and the 50 hourly simple moving average. Finally, the pair found support near the 141.20 level. A swing low is formed near 141.20 and the pair is currently correcting higher.

It broke the 142.00 resistance and the 50 hourly simple moving average. Besides, there was a break above the 38.2% Fib retracement level of the downward move from the 143.86 high to 141.20 low.

During the rise, there was a break above a key bearish trend line with resistance near 141.80 on the hourly chart. However, the pair seems to be struggling above the 142.50 level, plus the 50% Fib retracement level of the downward move from the 143.86 high to 141.20 low.

The pair is currently consolidating near the 142.40 level and it seems like it could rise in the near term. A clear break above the 142.80 and 143.00 resistance levels could start a decent upward move.

Conversely, the GBP/JPY pair might struggle to rise above 142.80. An initial support on the downside is near the 142.00 level. If there is a downside break below 142.00, the pair could accelerate losses towards the 141.50 and 141.20 support levels.

Read more https://www.fxopen.blog/eur-jpy-and-gbp-jpy-showing-positive-signs/

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Gold price analysis


North Korea poses a threat, it will carry out a nuclear test, but market participants will certainly quickly change their investment instruments to safe haven.

The President of the United States and the President of North Korea, failed to sign the denuclearization agreement that was agreed in Singapore and will be signed in Hanoi.

The absence of a meeting point between the two heads of state, among others, Trump wants North Korea to destroy all its nuclear facilities and Kim Jong Un wants America to open isolation by lifting economic sanctions in its country, but both do not believe that each will commit to an agreed agreement.

The Chinese government, which is a supporter of North Korea and still sending 90% of the country's needs, called on the two warring countries to begin a peace agreement, because it could worsen the US-China trade agreement.

Market players' fears will certainly continue because the President of North Korea could have conducted an ICBM trial, so it is predicted that the price of gold could reach the level of $ 1515 / troyounce.

Gold technically

The gold price is seen in a clear uptrend, MACD shows that now the price is above the zero line which means that the bullish trend dominates, but the histogram has also shown in the overbought area, so be aware of trend reversals.

While Bollinger bands also indicate that prices have passed the upper band, indicating that a breakout is taking place in this golden commodity, which means that the bullish trend is strong enough to push prices up

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USD/CAD Technical Analysis

The US Dollar struggled a lot to clear the 1.3180 and 1.3200 resistance levels against the Canadian Dollar. As a result, the USD/CAD pair started a strong decline below the 1.3120 support area.

The pair broke the 1.3100 support area and the 50 hourly simple moving average and 1.3160. Moreover, there was a break below a key bullish trend line with support near 1.3155 on the hourly chart.

The pair declined below 1.3080 and the recent low was formed near 1.3063. On the upside, an initial resistance is near the 1.3088 level. It is near the 23.6% Fib retracement level of the latest decline from the 1.3167 high to 1.3067 low.

The main resistance is near the 1.3100 area (the recent breakdown zone). It is also near the 38.2% Fib retracement level of the latest decline from the 1.3167 high to 1.3067 low.

On the downside, the pair might find bids near the 1.3060 and 1.3050 levels. If USD/CAD fails to stay above 1.3050, there could be another slide.

The next major support is near the 1.3020 and 1.3000 levels. Any further losses may perhaps lead the pair towards the 1.2960 support area in the near term.

Read more https://www.fxopen.blog/gbp-usd-rec...FYZxEMSJn0a4inVpQSsboO4FF6bILy7z5biEqX_vhSFkg

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