Daily Technical Analysis FXOpen

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EURJPY technical analysis

A sharp decline has occurred in the EURJPY pair yesterday, at the beginning of this week the price really dropped to the lowest level of 116,117.

At the moment the price is rebounding and is at 117,131, where there has been a decline of around -1.43% today.

When the price of the pivot point breaks at 119,654 then the price continues to fall further.

The RSI indicator still shows oversold with a 33 mark which means it is not below level 30 as the RSI standard rules for determining oversold zones.

A further decline could bring the pair back to S2 retest at 116,337

H1 at the moment prices tend to rise slowly, this might be a signal of a trend reversal, but it may only bounce temporarily

Pivot point = 119.654
R1 = 120.930
R2 = 122.671
S1 = 117.913
S2 = 116.637

More analysis GBPUSD, GBPJPY
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FXOpen Launches New Accounts - Crypto 10


Dear Traders,

FXOpen is pleased to announce the launch of a brand new trading account - Crypto 10, where you can access high leverage, low cost cryptocurrency trading from as little as $10.

OPEN CRYPTO 10​

Conditions:

• Account currency: USD, EUR, GBP, RUB, JPY;
• Minimum deposit: $10 (or equivalent in other currency);
• Commission: 0.25% (half-turn);
• Leverage: 1:10;
• Margin call: 100%;
• Stop Out: 50%.

Learn more about our new Crypto 10 accounts in FXOpen knowledge base.

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


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GBPUSD technical analysis

GBPUSD is currently at 1.2848 and there has been a decline of -0.29% which means that bearish is more dominant in this pair.

Daily timeframe since last day there has been a sharp decline in this GBPUSD pair.

At the moment the price is below the pivot point which means that if the pivot is a balance sheet, the seller is now more dominant than the buyer.

We return to the H1 timeframe there has weakened the decline, but the bearish candle pattern still dominates

The RSI is at number 31, which is approaching the oversold level, but whether this is the beginning of the reversal will follow the ongoing changes.

Returning to the daily timeframe we see the RSI at number 44 which means it is still below 50 as a key in determining trends.

The conclusion is the current trend is bearish

PP 1.2916

R1 1.3.105

R2 1.3399

S1 1.2622

S2 1.2433



Read EUR/USD,USD/JPY

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Simple technical analysis of BTCUSD

There has been a sharp decline in the asset crypto pair yesterday, where prices have fallen back to their lowest levels so far this year, and currently the BTCUSD is at 6050, and has dropped -23% which is the worst decline this year.

In H1, here we see a consolidation phase going on where price movements are still in hourly frames with a narrow range.

If the trader considers this to be the lowest price and is the start for a bitcoin investment, then starting from this the price can go up again.

However news coronavirus or covid-19 is still an issue that causes many companies to experience a decrease in customers, because of market concerns because it prevents the spread of the virus.

At H1, the RSI value is already at level 21 this means that it is still an oversold zone, so be alert to the possibility of a trend reversal.

Meanwhile the RSI at the daily timeframe has also been below the level 30 which is the basis for RSI oversold rules.

The RSI value at the daily timeframe is 19, meaning that the downtrend is starting to weaken.

PP 9158

R1 9888

S1 7795

S2 7065

S3 5701

Read LTC EOS analysis

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HALVING IMPACT ON THE BITCOIN VALUE IN 2020

Contents
What is halving?
Why is it necessary?
How does halving affect the Bitcoin price?
Who can benefit from halving in 2020?

What is halving?

May 2020 is going to be crucial for Bitcoin due to the event called “halving”. It is a process of reducing the pace at which new cryptocurrency units are being generated.

Halving occurs once every 210 000 blocks (approximately every 4 years) until the maximum output of 21 000 000 BTC is reached. This sets its own implications on mining as well, traditionally making miners lives more complicated, since their reward drops twofold.

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HOW TO CHOOSE A CURRENCY PAIR FOR FOREX TRADING

Contents
What Are Currency Pairs?
How to Pick Forex Currencies to Trade
Spreads on Different Forex Currency Pairs
Trendiness
Trading Sessions
What is the Best Currency to Trade in Forex?
EURUSD – One of the Most Important Forex Major Pairs
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
Conclusion

The Forex dashboard is formed by all the products offered by the broker and available to trade. One can find Forex currencies, but also indices, commodities, contracts for difference (CFDs), bonds, etc. Each brokerage house has its own offering, this being one of the things that differentiate the numerous brokers in competition to attract as many retail traders as possible.

A Forex broker, obviously, focuses on Forex currencies, in the sense that these are the primordial markets in its offering. It tries to bring the best offers from one or more liquidity providers so that the Forex currency pairs displayed on traders’ platforms will show the best possible trading conditions at any given time during the trading day.

What Are Currency Pairs?
As the name suggests, a currency pair is formed of two different currencies “paired” against each other. Typically, each country has its own currency (some countries form a union and may share a currency – e.g., Euro and the Eurozone or some countries have their own currency pegged to a different one – e.g., Ecuador and the U.S. Dollar).

The pillar of the Forex dashboard is the world’s reserve currency – the U.S. dollar. Any currency pair that has the U.S. dollar in its componence is called a major pair. The rest are crosses. Therefore, all the currency pairs present in the Forex dashboard are either majors or crosses.

How to Pick Forex Currencies to Trade

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FXOpen Increases Margin Requirements Due to Effect of Coronavirus

Due to the current high volatility across all financial markets, FXOpen have taken the decision to increase margin requirements by up to 5 times their normal level in order to protect client funds. The change affects currency pairs, indices, metals and commodities and will take effect from March 17th until further notice. Please ensure you have sufficient margin to cover any open positions.

Cryptocurrencies are unaffected by this change.

Please consider these circumstances when planning your forthcoming trading activities.

For reference

As we know, today at an emergency meeting the US Fed decided to cut its key interest rate to 0-0.25% to support the economy. However, despite this, stock indices are currently falling following the news of the coronavirus pandemic.

With the fall of Asian and European indices, as well as US Index Futures, Bitcoin is also losing ground. However, in the near future, Bitcoin might attract the demand of investors as an alternative asset. Halving can give Bitcoin additional growth.

You should not expect a quick recovery in stock prices, while the spread of coronavirus continues, which impedes the normal functioning of the economy. Following an almost complete stoppage of the largest economies in the world, the number of infected continues is growing exponentially, which indicates the insufficiency of the measures taken. This factor may further destabilize markets. With this development, it is also likely that currencies in emerging markets will decline, as well as a rapid increase in volatility in the Forex market.

If stock indices hold on at current levels and coronavirus recedes, a rally in all markets can be expected. Creating a vaccine can “blow markets.” .

Based on the current situation, guided by the rules of risk management and in order to preserve client funds, FXOpen decided to increase margin requirements. We sincerely hope for your understanding.

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


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BTC USD technical analysis


The current price at BTC USD is at the level of 34,784 where there has been a strengthening of 4% of the opening price today.

At the daily timeframe we see that the tendency of this pair is still in a downtrend, the price is now below the level of the pivot point formed at 66,472.

We note that related to the spread of coronavirus, it also affects the crypto market, where we have seen lately very volatile and dangerous price movements.

Because of this dangerous condition, FXOpen pursued a policy of increasing the margin requirements 5-fold.

Back to LTCUSD, where we currently see the RSI indicator showing the number 32 which means that the price is currently in oversold condition, so the scenario is the price may rise temporarily

PP 66.472

R1 76,521

S1 47,966

S2 37,917

More analysis BTC and XRP

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EUR/JPY technical analysis

This morning EURJPY opened at 117,857, while yesterday's price movement this pair tends to move within the daily range

It forms a bearish candle with a lower low from the previous candlestick, but seller pressure has not been able to break the lowest low from the previous lowest candlestick.

The price movement has slowly risen again and currently it is at 117,889 with an increase of 0.08%.

We see the RSI value is 44 which means it still indicates a bearish trend because it is below the 50 value.

But from the recent price behavior even though wild movements may occur, it still moves in the frame of daily swing high and swing low.

Pivot point 119,654

R1 120,930

R2 122,671

S1 117,913

S2 116,637

Read more analysis EURUSD,USD/CHF.

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GBPUSD technical analysis

A bearish movement has occurred in the GBPUSD pair over the past two weeks

What causes price movements in a sharp bearish trend is because of coronaviruses that plague many countries.

Concerns about the coronavirus outbreak caused many countries to implement a policy of limiting visits between citizens.

In Indonesia, in the Jakarta area there are rules for citizens to hold back at home, work from home, worship from home, and not go to public places where many people will meet.

This rule has been in force for 14 days, and this condition has caused the Rupiah to weaken against the USD, and reached the level of Rp.15,350 per USD.

While the GBPUSD also came under heavy pressure from the USD, where for two weeks prices fell very deeply.

This condition excludes technical analysis based on indicators, the indicator will be many fake signals in this condition.

If the condition of the coronavirus outbreak continues, it is likely that the global economy will experience unfavorable conditions

FXOpen launching account crypto ten.

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