Daily Technical Analysis FXOpen

[radex78]

LTC AND EOS — ESTABLISHING SUPPORT

• LTC/USD
  
  The price of Litecoin has been decreasing since last Friday when it was sitting at $60.58 and depreciated in value by 13.42% measured to its lowest point today at $52.36 around which it is currently being traded.
  This is why shortly after the further establishment of support the price would be expected to begin another upside move that would result in a higher high compared to the one made on the 2nd of August and could lead the price of Litecoin to around $70.
  
• EOS/USD
  
  From Tuesday when the price of EOS came up to $3.2787 at its highest point we have seen a decrease of around 12% as it came down to $2.885 and even continued to spike a bit further to the downside but the hourly candle snapped back above the significant horizontal support zone above the $2.9282 level.
  First, as we are seeing that the support held another corrective move in the form of a B wave would be expected but only to around the median point of the current range. If the price continues increasing from here and manages to move above Tuesday’s high the count would be invalidated.

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#cryptocurrencies#EOSUSD #LTCUSD #forex #forexanalysis #traiding

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[radex78]

THE PRICE OF GOLD CAN EXTEND THE DEKLINE WHILE OIL THE EYES PRICES MORE

Gold prices started to decline strongly after trading close to the crude oil price of 2.075 Crude. currently consolidating in a range and preparing for the next key break.

Essential shots for Gold and Oil

• Gold price bottomed fresh all-time above 2,070 before correcting lower against US Dollar.
• There is a key trend line forming with resistance near 1,970 on the hourly gold chart.
• Crude oil price is currently trading well above the 42.00 support zone
• There is a large bullish trend line forming with support nearing 42.30 on the XTI / USD hourly chart.

Read more on the FXOpen blog: https://bit.l/2PRzE3E

# forexanalysis # XTIUSD #OIL #forex #traiding

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FXOpen - one of the most successful and fastest-growing Forex brokers.
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[radex78]

JULY 2020 PAMM REVIEW

Summer is ending and autumn is coming soon, but providers continue to trade on their accounts and many of them do it very effectively.

Despite the difficulties with some providers, investors are looking for the most profitable accounts every month. Therefore, we want to focus on those accounts that continue to attract interest from their subscribers. Here’s our next forecast on the traders’ results on the FXOpen platform.

As of August 1, 2020, 166 working accounts were opened in FXOpen and 2’092’162.00$ of subscribers’ funds were invested according to the statistics of Investflow monitoring.

Also, FXOpen is holding another round of Cryptomania, a free demo contest. Registration is open until August 16, 2020.

To see top 10 most promising PAMM accounts based on July 2020 results follow the link: https://bit.ly/2PMTVrd

#PAMM_Review#forex #pamm #traiding

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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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[radex78]

U.S. STOCK MARKET DRIVES THE FX PRICE ACTION

• The USD keeps falling across the dashboard as the stock market’s bid tone continues.
• With both the Dow Jones and the S&P500 close to making new all-time highs, the USD’s offered tone is likely to continue this week.
• The strong interest in the stock market is also responsible for the flight out of the USD. The central banks’ actions during the coronavirus crisis led to lower yields across the curve. Investors looking for yield fled the fixed income and began bidding for stocks.
• The stock market is a leading indicator of the business cycle theory. If it signals the bottoming of the US economy, then the bid higher is likely to keep influencing the USD moving forward.

Read more on FXOpen blog: https://bit.ly/3113KIo

#financialmarket

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[radex78]

BTC AND XRP – WILL THE BREAKOUT CONTINUE?

• BTC/USD
  
  From yesterday’s low at $11807, the price of Bitcoin increased by 5.76% and came up to $12487 at its highest point breaking out from the significant horizontal resistance level above the psychologically interesting level of $12000.
  Looking at the wave structure this is the continuation of the impulse wave of the Minuscule count from
  
  Sunday and was its 3rd wave which indicates that the current retracement we have seen today is a local one as the 4th wave developed.
  
  If we have seen the completion of the ABC correction to the upside, after another local increase we are to see the price entering the lower range from which it broke out but if the bullish momentum is to continue the price is likely to find support at the horizontal level retest around $12000 which is why we are considering this as a significant pivot point which will provide an early indication as to what’s likely to develop next for the price action of Bitcoin.
  
  
• XRP/USD
  
  The price of Ripple has increased by 8.96% from yesterday’s low at $0.29928 and came up to $0.32608 at its highest point but today came back to $0.31 area around where it is currently being traded and is still in a downward trajectory.
  
  We believe that we are more likely seeing a corrective increase instead of an impulsive one which is set to bring the price of Ripple into new highs, and was instead the part of the same correction structure of the higher degree from the 2nd of August who’s high was retested yesterday and the price found resistance, retracing once more.

Read more on FXOpen blog: https://bit.ly/2Q0tiPD

#Cryptocurrencies#BTCUSD #XRPUSD #bitcoin #ripple #forex

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[radex78]

EUR/USD TURNS GREEN, USD/JPY COULD STRUGGLE TO RECOVER

EUR/USD is following a bullish path above the 1.1850 support area. USD/JPY is currently recovering, but it is likely to face hurdles near the 105.80 and 106.00 levels.

Important Takeaways for EUR/USD and USD/JPY

• The Euro climbed higher nicely and it surpassed the 1.1850 and 1.1900 resistance levels.
• There is a major bullish trend line forming with support near 1.1925 on the hourly chart of EUR/USD.
• USD/JPY declined heavily below the 106.00 and 105.50 support levels.
• There is a connecting bearish trend line forming with resistance near 105.75 on the hourly chart.

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

#forexanalysis#EURUSD #USDJPY #Forex #traiding

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UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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[radex78]

LTC AND EOS – CORRECTIONAL UPSIDE AFTER DOWNWARD IMPULSE EXPECTED

• LTC/USD
  
  From Mondays high when the price of Litecoin reached the projected high at $68.52 and ended its 5th wave, we have seen a decrease of 14.69% measured to the yesterdays low at $58.779. Since then we have seen a recovery to $63.7 but with the price currently being traded slightly lower at $62.24 level.
  
• EOS/USD
  
  The price of EOS has been decreasing from Monday’s high at $3.922 to $3.27 which was a decrease of 16.31% but made a recovery since and is currently trading at around $3.4.
  The price is currently undergoing a local ABC which is set to bring the price a bit higher but is ultimately leading to another five-wave impulse to the downside.

Read more in FXOpen blog: https://bit.ly/3hfXqST

#cryptocurrencies#LTCUSD #EOSUSD #litecoin #forex #blockchain

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[radex78]

AUD/USD AND NZD/USD COULD RESUME DECLINE

AUD/USD is struggling to settle above the 0.7200 resistance zone and it could resume its decline. Similarly, NZD/USD is facing hurdles near 0.6550 and it might decline again.

Important Takeaways for AUD/USD and NZD/USD

• The Aussie Dollar started an upside correction from the 0.7140 support against the US Dollar.
• There was a break above a short-term bearish trend line with resistance near 0.7175 on the hourly chart of AUD/USD.
• NZD/USD is currently facing a strong hurdle near the 0.6550 and 0.6555 resistance levels.
• There is a key connecting bearish trend line forming with resistance near 0.6545 on the hourly chart of NZD/USD.

Read more on FXOpen blog: https://bit.ly/2EfKT3z

#forexanalysis#AUDUSD #NZDUSD #forex #traiding

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UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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Trade Crypto and Stocks CFDs from one ECN account!

Dear Clients,

FXOpen is happy to announce that we have made our trading environment even more efficient and convenient for you! Clients with ECN accounts who trade on MetaTrader 4 and MetaTrader 5 platforms can now trade crypto and stocks CFDs from one ECN account.

Available leverage for Stocks CFDs is 1: 5, for crypto CFDs is 1: 3.

We now offer popular stocks among traders such as Apple Inc., Walt Disney Co., Bank of America Corp., Coca-Cola Co. and others, as well as the most popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple. There are more than 100 new instruments available for trading on the MT4 and MT5 platforms.

We would also like to inform you that clients who trade on the TickTrader platform now have access to even more trading instruments - over 600 CFDs on the most popular stocks and cryptocurrencies.

More information:https://bit.ly/3gxPk7R

#news

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FXOpen - one of the most successful and fastest-growing Forex brokers.
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[radex78]

U.S. STOCK MARKET FRENZY CONTINUES AS TESLA SURGED BEYOND $2,000

The U.S. stock market continues its incredible performance as the big tech companies defy the pandemic. With the Q2 earnings season almost finished, most of the companies have beaten expectations, fueling the rally further.
Tesla, one of the strongest performers, surged beyond $2,000 for the first time in history. The stellar rise is fueled by a combination of investors’ optimism about the company’s future financial performance, the possible inclusion in the S&P500 and a new have of retail traders that discover the stock market for the first time.

Record Highs for Tesla Despite Stock Split Announcement

The surge above the $2,000 level comes at the time when the company announced a 1-5 split at the end of August. In other words, beginning September 1st, each investor will receive five shares for one share owned. The idea behind stock splits is to make the shares more accessible to retail investors, even though fractional investing solved for that issue recently.

Read more on FXOpen blog: https://bit.ly/3aSNE76

#financialmarketnews#forex #tesla #traiding #usa #finance

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FXOpen - one of the most successful and fastest-growing Forex brokers.
UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
10$ No Deposit Bonus for TickTrader ECN Accounts//Join FXOpen