Daily Technical Analysis FXOpen

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XLM USD technical analysis

On this morning the XLMUSD crypto pair shot up quite strongly, after the opening price was recorded to have increased more than 11%, this is a volatile pair and provides an opportunity to gain short-term profits.

The development of Stellar itself has had a good impact on market development, users have realized that the possibility of a stellar network will grow well making it have a gradual rise in value.

After prices fell in March, the growth of most crypto began to rise following the market trend, at a time when prices were low many investors began to dare to enter at low prices, which pushed prices back up.

XLMUSD's daily timeframe shows that the uptrend is still ongoing, the current RSI value refers to the daily timeframe at 57.85, indicating the price trend is in the bullish market zone.

But in short term trading, at the moment H1 is now RSI approaching the overbought zone at the level of 68.16.

Overall the trend is still dominant bullish so that the opportunity to look for prices to bounce to the best possible and not forget the risk management


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USD/JPY technical analysis

At the opening of the market today the price change in the pair USDJPY is still in low volume, this pair has declined by 0.02%. The previous day's price movement shows that the USDJPY is in a bearish but weak tendency.

Watching the H1 timeframe wave shows that the price had moved up close to the previous daily high until finally the downward pressure finally occurred towards the close of the session.

The RSI indicator on the daily timeframe has shown the number 47.26 which means the current trend tends to fall based on the RSI indicator.

While looking at the RSI at the H1 timeframe, there we see now the RSI level is at 43.97 which means it also indicates the current trend is bearish.

The RSI indicator itself is an indicator used to determine overbought and oversold but is also used to determine trends with level 50 as a reference to trend balance.

Where the current price will be, all opportunities are fifty-fifty but if you use the weekly timeframe, a long tail appears on the last candle. Whereas Pinbar is a trend reversal pattern


Read more EUR/JPY and EURJPY...

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LTC AND EOS – RECOVERY EXPECTED TO CONTINUE

LTC/USD

From last Saturday when the price of Litecoin was sitting on its highest at around $49.23 we have seen a decrease of 20.32% measured to the lowest point the price has been at $39.23 made on Monday. Since the start of the week, recovery has started with the price reaching $43.75 at it’s highest yesterday but is currently being traded slightly lower and still above the $43 mark.

EOS/USD

The price of EOS has decreased by 19.66% measured from its last week’s high at $2.83 made on Saturday to the lowest point this week at $2.27 made on Monday. From there we have seen an increase of 12.4% as recovery took place with the price currently being traded at $2.53 and is still in an upward trajectory.

Read more on #FXOpen blog: https://bit.ly/3fPcTcg

#Stayhomeandtrade #LTCUSD #EOSUSD #blockchain #forex #crypto #BTC #XRP


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GOLD PRICE AND CRUDE OIL PRICE EYEING MORE UPSIDES

Gold price started a steady rise above the $1,700 and $1,710 levels. Similarly, crude oil price is showing positive signs and it could continue to rise above $28.00.

️Important Takeaways for Gold and Oil️

• Gold price gained traction and climbed above the $1,722 resistance against the US Dollar.
• There are two key bullish trend lines forming with support near $1,725 and $1,706 on the hourly chart of gold.
• Crude oil price is rising steadily and it could soon test the $30.00 resistance.
• There is a crucial bullish trend line forming with support near $26.00 on the hourly chart of XTI/USD.

Read more on #FXOpen blog: [ur=[URL]https://www.fxopen.blog/gold-price-and-crude-oil-price-eyeing-more-upsides/l]bit.ly/2Z17CIO[/url[/URL]]

#Stayhomeandtrade #OIL #GLD #GOLD #forex #stock #XTI #USD

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Analysis of the pair USD/JPY

As of this morning the USDJPY pair has risen around 0.07% from the opening price this morning. There is no visible gap in this pair even though from the M15 timeframe, the movement of the candle is still normal but there is buyer pressure that is starting to push the price up.

Looking at the daily timeframe, this USDJPY seems to still allow prices to move within the daily range of the previous week, where the daily high as resistance stands at around 107,408

Now we see the RSI indicator, the RSI daily timeframe shows the number 49.72, which means that it allows the price to be in a downtrend because it has not yet passed the number 50.

But if you look at the RSI at the H1 timeframe, this is at 54.52 which means the current trend in the short term is a bullish trend.

While the habit of monday movement is often the price moves in a low volume so that it can trigger false signals where the RSI is good enough in high market trends

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Changes to Trading Hours on US Memorial Day and UK Spring Bank Holiday

Dear Traders,

Please, note that on May 25th, 2020 trading hours for CFDs will be limited due to Memorial Day in the US and UK Spring Bank Holiday.

Trading hours will be changed as follows:

• Metals - trading ends at 20:00;
• Oil and natural gas - trading ends at 19:45;
• Indices:
  • Japan 225 - trading ends at 20:00;
  • US SPX 500 - trading ends at 20:00;
  • US Tech 100 - trading ends at 20:00;
  • Wall Street 30 - trading ends at 20:00;
  • UK 100 (#UK100) - trading closed.

All other instruments will be traded as usual, without changes.

Please take these changes into consideration when planning your trading activities during the upcoming week.

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Important oil market update

Dear Traders,

Due to the unprecedented global situation and increased market volatility we need to inform you of some important changes to our Oil markets (US Crude XTIUSD and UK Brent XBRUSD).

Due to the possibility of oil falling to negative prices again, many platforms are unable to show these negative prices.

With immediate effect and until further notice, should the price of XTIUSD or XBRUSD fall to $5.50, that market will be suspended and all open positions in that market will be automatically closed at the best possible prices in the market.

Please take this information into account when making trading decisions and we will inform you of any changes to this situation.


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STRONG DEMAND FOR DOLLARS CONTINUES

Strong Demand for Dollars Continues
The USD surged across the board since the coronavirus pandemic outbreak with no sign that things will change anytime soon. Why is it that investors prefer the USD, even though all the Fed actions lately are designed to weaken it? The answer comes from how the monetary policy transmission mechanism works and from the key role of the USD in the international financial system.
Before the current health crisis, the Fed just finished a tightening cycle. It delivered three rate cuts as mid-cycle adjustment, as it reached its mandate of price stability and 2% inflation.
Meanwhile, the rest of the developed world was near the zero level with the interest rates. At one point, the United States had the highest interest rate in the developed world. Naturally, the demand for USD surged, as Bank of Japan or the European Central Bank had (still have) negative interest rates.
The health crisis caught everyone by surprise. From central banks to governments, from emerging to developing economies – everyone turned to safety. In the world’s financial markets, safety equates the USD.

Read more on #FXOpen blog: https://bit.ly/2ThdeLa

#forextrading #forexmarket #tradehome #Stayhomeandtrade #financialnews

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LTC AND EOS – ASCENDING TREND LINES BROKEN, DOWNSIDE EXPECTED

LTC/USD

From last week’s low at $41.72 made on Friday the price of Litecoin has increased by 11.71% measured to the highest point on Monday which was at $46.61. Since then we have seen a decrease of 7.78% as the price fell to $43 area yesterday but made a minor recovery and is currently being traded around $43.6.

EOS/USD

From Monday’s high at $2.75 the price of EOS has decreased by little below 8% as it came down to $2.53 yesterday. After a slight recovery to $2.6 it’s currently being traded lower at around $2.56 and is in a downward trajectory.

Read more on #FXOpen blog: /bit.ly/2TosZ2U

#Stayhomeandtrade #LTCUSD #EOSUSD #blockchain #forex #crypto #EOS #LTC

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Trading Conditions for France 40 Equity Index CFD

Dear Traders,

We'd like to inform you that due to the short-selling ban in France being lifted, on May 19, FXOpen have removed the previous restrictions in trading the France 40 Equity Index CFD.

Please consider these changes when planning your trading activities.

Read more...

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