Daily Technical Analysis FXOpen

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JOIN “FOREX SCHOOL” – A FREE EDUCATIONAL CONTEST ON DEMO ACCOUNTS

Contents
Conditions of the contest:
Competition rules and restrictions:
How to join the contest?
Useful links:

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
FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
Open account//Join FXOpen

 

[radex78]

JOIN “FOREX SCHOOL” – A FREE EDUCATIONAL CONTEST ON DEMO ACCOUNTS

Contents
Conditions of the contest:
Competition rules and restrictions:
How to join the contest?
Useful links:

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

Read more...

Subscribe our FXOpen Youtube Channel

FXOpen
FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
Open account//Join FXOpen

 

[radex78]

Technical analysis of BTC USD

As of this morning, the movement of the LTCUSD has shown an increase in volume, and prices have risen by 1.37% from the opening price.

From the daily timeframe, we received information about the price this week, it needs to be bearish, but is currently stuck at a low level of 39.5590

The current price movement is still below the value of the Pivot Point, so based on current theory the trend is bearish, with this being in line with rising prices this morning it is pushing for the bearish continuation taken by the previous trend.

We see the current RSI value is 46.52, according to the RSI theory the current trend requires a downtrend, the Sell position is still the main priority, while still being disciplined in applying stop loss in anticipation of rapid changes

Going to the H1 timeframe, candlestick movements tend to line up which gives an indication of sideways market trends.

Pivot point 42,259

R1 61,656

R2 84.189

Read more..BTC and XRP.

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[radex78]

USDJPY technical analysis

This pair in yesterday's trading moves in a sideways condition, which is based on candlesticks that move in a high to low range in a low range.

Looking at the daily timeframe, it has formed a triangle pattern where the buying and selling pressures are starting to contract.

In this condition some can take advantage of short-term trading, but the risk is dragged into price ranges that are not as expected.

Paying attention to the current pivot point value at 106,803 and the current price above the pivot point, so it can be said based on the current pivot point value of USDJPY in an uptrend position.

Meanwhile, by looking at the RSI indicator the current value is at 48.04 this means that based on the RSI indicator this pair is in a downtrend position.

There are differences in signals from the two indicators, so that the current trends are dubious, so there are no trading recommendations at this time.

We go to the H1 timeframe there where prices move in the range of 108.xx and 107.xx, so that short-term trading is still possible when using this timeframe by measuring the magnitude of risk in each trading action.

Wait for the price to reach the 108 level to sell and wait for the price to reach the 107 level to Buy, with stop losses above or below that level

PP 106803

R1 112,421

S1 101,888

Read more..EURUSD and USDCHF.

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XLMUSD technical analysis

Looking at the data of the previous day's movements, it is clear that XLMUSD has formed a solid bullish formation.

Since the beginning of this week the uphill graph has provided a strong boost to the crypto pair.

On this morning since the market opened, prices have gone up 16 percent, it can be said to be a very strong rise, where the average of other pairs is below 5 percent.

The current price has been able to occur a break of R1 at the level of 0.0605 and is still possible to reach the level of R2

Since the price managed to break the pivot point, the price then rose significantly and increased trading volume while decreasing dramatically in March

The price above the pivot point is showing an upward trend in theory, while the RSI has entered the overbought level at 73.45, this is what needs to be alert to the existence of a reversal even though it may be temporary.

PP 0.04268

R1 0.06053

R2 0.08029

Read more..LTC and EOS.

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Changes in CFD Trading on May 1, 2020

Dear Traders,
Due to a public holiday in Europe on May 1st 2020, the following indices will not be traded:

• Europe 50 - trading closed;
• France 40 - trading closed;
• Germany 30 - trading closed.

All other financial instruments will be traded without changes.
Please, take these changes into consideration when planning your trading activities for the upcoming week.
Follow the updates on Facebook, Twitter dan Telegram.

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

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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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AUDUSD technical analysis

At the opening of the market this week we see that there is a gap in the AUDUSD pair, but the gap is very small and can only be seen from low timeframes such as M15 or M5.

Seen there are open prices below last week's candlestick, there is a gap seen between the closing candle and the open candle

The current price is in the previous high daily area, thus allowing this area to be a consolidation area for this pair.

Next we look at using the RSI, there the RSI number shows 57.27 which is an indication of a bullish trend because it is above the 50 value which is a trend balance based on the RSI

We also see the price above the pivot point which means that based on this value is also in a bullish trend, so that both of them have confirmed.

We go to the H1 timeframe, where we see the current price swing at the top, so we need to be aware of the possibility of a price decline

Trading recommendations by waiting for the price to bounce for open buy and stop loss adjust the level of risk taken.

PP 0.61168

R1 0.67242

S1 0.055485

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DECISIVE WEEK FOR MONETARY POLICY – WILL THE FED TURN TO NEGATIVE INTEREST RATE POLICY

Busy week ahead for investors and traders alike, as major central bank interest rate announcements are due. In a world dominated by the health crisis and its negative economic impact, traders turn to central banks for guidance about how to cope with the downturn.

Bank of Japan to Start the Week

Bank of Japan (BOJ) is the first one in line to announce its monetary policy decision. Nikkei reports that the BOJ wants to transform the current Quantitative Easing (Q.E.) program into an unlimited one, with implications on USD bonds due to new Japanese inflows. The JPY traded sideways lately, and this coming week has the potential to break the recent ranges.

The coronavirus crisis already created unprecedented unemployment levels around the world. It far exceeded the 2008 Great Financial Crisis in terms of the economic damage and policy-decision makers barely cope with the situation. The problem does not seem to be a recession anymore, but most likely a depression ahead.

Is the Fed Going Negative?

Besides BOJ, the other two main central banks are due to deliver their monetary policy statements on Wednesday and Thursday – the European Central Bank (ECB) and the Federal Reserve of the United States (Fed). Out of the three, only the Fed still has a positive interest rate policy, but many voices started to argue that negative interest rates are close to being introduced in the United States.

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[radex78]

XLM USD technical analysis

Digital crypto on this one has become a bullish trend to dominate trade.

Similar to the movement of Bitcoin, in March the pair also declined sharply, touching the level of 0.026139.

Maybe after the decline, investors see that the price has really gone down and it's time to start the Buy action, so slowly but significantly the price starts to rise.

At the moment the price has touched the level of 0.068667, a significant increase in value has occurred in XLMUSD.

The current price has reached R1 after successfully passing the pivot point, and possibly can reach R2

But the signal is different is the RSI, he shows the number 76 which means this has entered the overbought area on the daily timeframe.


So it is necessary to be vigilant if the price turns back, even though it may only be temporary


PP 0.042931

R1 0.059724

R2 0.078571


Read more BTC,XRP

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[radex78]

USD/JPY technical analysis

In the previous day's trading session USDJPY had formed a fairly long bearish formation.

After the bearish pressure occurred at the end of last week and formed a pin bar candle, it seems that the pair is continuing a trend during this week which tends to be bearish.

At the beginning of the market opening this morning, USDJPY had pushed down 0.2% of the open price, an indication of continued decline

The current price is below the pivot point, as an indication that this is a bearish trend.

While the RSI also has shown the number 39 which is below the value of 50 which also means a bearish trend.

RSI is one of the oscillator indicators that shows oversold and overbought with the rule if the price is below the level of 30 oversold indication, and if the price is above level 70 it means overbought.

The RSI has not shown below the 30 level so it is still possible prices continue to fall, but after all the price is very dynamic, it is not a definite mathematical.

PP 106803

R1 112,423

S1 101,888


Read more EUR/USD,EUR/JPY

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