Daily Technical Analysis FXOpen

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The winners of CryptoMania 2020 Contest Announced


The Forex contest for crypto fans "CryptoMania" ended on April 3. For four weeks, more than 800 participants were deeply involved in the competition for the prize money of 3,000 USD.

So, we are happy to announce the contest winners:

• Andrey Brusov (Rusia): account number - 3044431; balance - $ 39710,21; prize - withdrwable $ 525 + $ 525 as a bonus;
• shumilya (Ukraina): account number- 3044463; balance - $ 39010,85; prize- $ 375 + 375 as a bonus;
• sjd (Pakistan): nomor akun - 3044088; balance - $ 36668,59; prize- $ 150 + $ 150 as a bonus;
• mackrillo (Rusia): account number - 3044389;balance - $ 34489,74; prize - $ 120 + $ 120 as a bonus;
• vityats (Ukraina): account number- 3044496; balance - $ 32601,7; prize - $ 90 + $ 90 as a bonus;
• shadooff (Ukraina): account number- 3044407; balance - $ 31727,14; prize- $ 75 + $ 75 as a bonus;
• berdanka (Rusia): account number - 3044467;balance - $ 30541,93; prize- $ 60 + $ 60 as a bonus;
• dubovick (Rusia): account number - 3044498; balance - $ 30386,32; prize - $ 45 + $ 45 as a bonus;
• quartes (Ukraina): account number - 3044326; balance - $ 30385,4; prize- $ 30 + $ 30 as a bonus;
• Sehris Abbas (Pakistan): account number - 3044267; balance - $ 30288,39; prize - $ 30 + $ 30 sas a bonus;us.

We congratulate the winners of "CryptoMania"! The prize money will be added to the participants' accounts in any cryptocurrency available with FXOpen at the exchange rate at the moment of prize crediting or in USD.

Please note that 50% of prize cannot be withdrawn and is intended only for trading on Crypto accounts. To get the money, you will have to open a Crypto 10 account by yourself and email us its number at [email protected]. The profit from trading can be withdrawn at any time via any payment system available with FXOpen.


Useful links:

1 "CryptoMania" thread on ForexCup forum;
2 FAQ;
3 FXOpen Crypto Accounts.[/url

[url=https://www.forexcup.com/results/the-winners-of-cryptomania-2020-contest/]Read more...

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FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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BEST FOREX PAIRS TO TRADE AT NIGHT

Contents
What Are Forex Night Trading Hours?
Why Trade at Night – Forex Pairs to Trade
What Are the Best Forex Pairs to Trade at Night?
Conclusion

One of the reasons why the foreign exchange market attracts traders is the fact that it is open 24/5. Except for the weekend, anyone with a trading account can buy or sell a currency pair at any time during day or night.

The three trading sessions (Asian, European, American), have different characteristics in terms of general market volatility and economic data to move the prices. In general, we can say that during the Asian session, the market is relatively calm, while the London and North American sessions experience higher volatility levels.

However, from time to time, the roles change. For instance, when important events with the potential to move markets take place in the Asian session, the European and North American ones have little or no volatility.

For this reason, before searching for the best currency to trade at night, one needs to consider various factors. First, the time zone the trader lives in. If you live in Asia, the best Forex pairs to trade at night might be the ones active in the European and American sessions.

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USDJPY technical analysis

Since the beginning of this week the movement of the USDJPY pair has come under high selling pressure which caused the price to fall freely at the beginning of this week's trading session.

The price is likely to break the support zone formed by the market mechanism at the level of 107.008, this is a support zone based on previous price history.

At the moment with the H1 timeframe, there is a significant upward correction slowly rising, but this still raises the question because it may be that this is only a temporary movement.

Meanwhile using the RSI indicator, it shows the level 46, which means it is still in a bearish trend.

Pivot point 106,803

R1 112,890

S1 101,888


Read more.GBP and JPY.

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XLMUSD technical analysis

The XLMUSD crypto pair has shown an upward bias to open at the market opening today, since the price opened 0.036685 now has gone up plus 0.26%

But looking at the price action candle composition, the pair is still moving within the range of daily range which allows the movement to still range between low daily support and high daily resistance.

As a whole the trend that is formed at this time is an uptrend, when referring to the Pivot point which is at 0.042391

The strengthening of Stellar is still possible to occur along with positive news from Mark Yusko's investor fund offering.

Continuing the analysis with timrame H1 that currently prices move in a consolidation phase where prices concentrate on high to low in the timeframe.

From the H1 RSI indicator shows the number 49.93, this means that the trend is in doubtful condition whether to continue up or down

PP 0.042931

R1 0.059724

R2 0.078571

Read more.BTC and XRP

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Join "Forex School" - a free educational contest on demo accounts

On May 4, 2020 FXOpen broker launches a free educational contest on demo accounts "Forex School". Everyone can participate in the competition.

"Forex School" is a unique possibility not only to improve your knowledge and skills in Forex trading, but also to get real money prizes. The contest will last for 4 weeks.

Hurry up to register before May 17!

Join the Contest​

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FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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BTC USD technical analysis

In Thursday's trading the pair has shown the price forming a bullish candle, buying pressure has started to dominate since last week.

It is now possible that the value of Bitcoin will creep up, ahead of the halving that will occur in May, which with Halving will reduce miner's reward, so that the past can be repeated again.

Many observers are optimistic that Bitcoin trading volume will increase after halving and future values will increase because there will be less that can be mined.

Technically, the price is currently above the pivot point which is the balance point of the trend so that the conclusion is the trend tends to go up.

Whereas by using the current RSI the value is 53.96 which means above the value of 50 as the value of the balance of the trend, then the conclusion is bullish.

We go to the H1 timeframe, where we can see that the uptrend has started to enter the market since the opening price rose plus 7.63%.

PP 6496.76

R1 9143.51


Read more..LTC and EOS.

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BTC USD technical analysis

This morning BTC USD has risen by 0.83% from today's opening price.

Taking historical movement data a few days ago, the movement of this pair tends to be in a balanced condition between bullish and bearish has not been confirmed perfectly.

This phase is a phase of consolidation in which the movement of buyers and sellers tends to alternate and there is no single winner that has become more dominant in the market.

Price movements are still likely to go up and down between the value of Pivot point 42.259

Meanwhile the RSI indicator shows the level of 50.09, so even this shows that the balance of the trend is still ongoing where there is no dominant buyer or seller power.

Now we go to the H1 timeframe, there we find that a bullish candle has started to show an uptrend in the short term

The focus area is the pivot point, where if the zone breaks, the next scenario is resistance 1, but if it is difficult to break the pivot point, then the price may go down again.

PP 42.259

R1 61,656

R2 84.189

Read more..GOLD and OIL.

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LTCUSD technical analysis

This morning LTCUSD has risen by 0.83% from today's opening price.

Taking historical movement data a few days ago, the movement of this pair tends to be in a balanced condition between bullish and bearish has not been confirmed perfectly.

This phase is a phase of consolidation in which the movement of buyers and sellers tends to alternate and there is no single winner that has become more dominant in the market.

Price movements are still likely to go up and down between the value of Pivot point 42.259

Meanwhile the RSI indicator shows the level of 50.09, so even this shows that the balance of the trend is still ongoing where there is no dominant buyer or seller power.

Now we go to the H1 timeframe, there we find that a bullish candle has started to show an uptrend in the short term

The focus area is the pivot point, where if the zone breaks, the next scenario is resistance 1, but if it is difficult to break the pivot point, then the price may go down again.

PP 42.259

R1 61,656

R2 84.189

Read more..GOLD and OIL.

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UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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NEWS TRADING: HIGH PROFITS – HIGH RISKS

News Trading is rapidly becoming one of the most popular strategies for Forex traders. However, in pursuit of high yields some reckless market participants tend to neglect the fundamental risks associated with FX transactions before fully digesting the published information. Traders’ “commitment” to such tactics is reasoned by the high volatility of the market during the release of key news. In such situations currency pairs may reach 100 pips or more within just a few minutes – leading to an impression that “easy earnings” are to be made. However, a trader expecting high profits should keep in mind the following:

• Prices will rarely move in one direction after the key news release and may move up or down in line with volatility. More often the price will rise or fall in steps with an abrupt change in direction after reaching the peak. High market volatility may often cause price gaps that trigger the execution of “protective” Stop Orders with a considerable slippage.
• Understanding ECN technology is essential when using any trading strategy. ECN accounts provide market execution of orders (Market Orders). It means that the actual opening/closing price differs from the quote value the moment the client sends a request to open or close a position. Thus, the actual price would be the one existing the moment the order was executed. It should be noted that the difference between the desired and actual exercise price may increase dramatically within seconds under influence of important economic news.

Execution for Stop Loss and Pending Stop Orders will follow the general market execution pattern i.e., when the price reaches the Stop Order value, the latter gets activated and the deal is sent for execution. The price, at which the orders get executed, is considered to be the actual one, though it may differ from the initial set price. The exercise price varies greatly and may deviate in both directions. Thus, it may bring a trader good profit or make them incur losses – that is a typical feature of True ECN technology.

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