Daily Technical Analysis FXOpen

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Participate in the “Money Managers” contest and win up to $5000

FXOpen and ForexCup invite traders to participate in "Money Managers", a contest with real PAMM accounts. Don't miss your chance to win big money prizes totaling 10,000 USD! The contest starts on October 5, 2020, and registration will be open for another month until October 31 2020

Participate​

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#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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OIL PRICE – CAN IT MOVE EVEN HIGHER

Oil made history in 2020. For the first time ever, it settled into negative territory as investors responded to the coronavirus demand shock.
In April, it closed around -$40, sending deflationary waves throughout the word. But what followed was equally impressive. The bounce from -$40 to +$40 is nothing short of impressive.

Oil and Its Share in the Energy Mix

The chart above shows the oil’s share in the energy mix and how it evolved in the last century. In green, we see the modern renewables, that include all uses with the exception of biomass. The trend is clear and reflects the direction the world is heading – a greener future with more emphasis on modern renewable technologies to satisfy the world’s energetic need

Undersupplied Oil Market

After the coronavirus pandemic reached the Western world, demand for oil simply collapsed. It caused the decline in prices described earlier.

But OPEC (Organization of the Petroleum Exporting Countries) reacted quickly. Together with Russia, it slashed production to stabilize prices.
Moreover, the U.S. shale oil industry was negatively affected by low oil prices. Therefore, the supply shrank even more, being responsible for the rise in the price of oil we have seen recently.

Read more on FXOpen blog: https://bit.ly/36T6o6l

#FinancialMarketNews#forex #traiding #forexanalysis #oil #XTIUSD

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UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.
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BTC AND XRP – ESTABLISHING SUPPORT

• BTC/USD
  The price of Bitcoin has been increasing since last Thursday when it was sitting at $10539.2 and from there reached $11742 at its highest yesterday which was an increase of 11.42%. From yesterday’s high the price pulled back by 2.6% and is currently being traded at around $11500 level.
  As the price broke out into the upper range and is establishing support on its horizontal level further upside would be expected. First, a validation of the support level is needed and is likely going to occur in the current test. If not the price could go back down to the interrupted ascending trendline for another restest after it found support there on yesterday’s pullback.
  
• XRP/USD
  The price of Ripple has been following a similar pattern as from last Thursday when it was sitting at $0.2427 made an increase of 7.34% coming to $0.26 at its highest point. Now the price is being traded at around $0.2569 level and has started moving sideways after a third revisit to the $0.26 resistance zone.
  As we have seen the increase continuing it reached another significant horizontal resistance at the prior higher high made on the 17th of September after which a correctional structure has started developing. Now we are most likely seeing a consolidative correctional move inside a triangle which is set to bring the price of Ripple for another retest of its ascending trendline before a breakout to the upside would be made above the $0.26 resistance zone.

Read more on FXOpen blog: https://bit.ly/3776TtL

#cryptocurrencies#BTCUSD #XRPUSD #bitcoin #ripple #xrp #forex

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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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FXOpen Announces the Results of "Forex School" Contest

"Forex School", a free trading contest for demo accounts, ended on October 2. For four weeks, more than 900 participants were actively competing for the prize fund of 8,000 USD.
We congratulate the winners of "Forex School"!

Please note that the prize money will be added to the winner's investment account. This money is not withdrawable and can only be used for opening a PAMM STP account. All PAMM accounts opened by the winners will automatically be eligible to take part in a new contest on live PAMM accounts that started on October 5.

So, we have received the results of the contest and present the winners to you: https://bit.ly/34VUPbO

#news

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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

 

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PAMM Service Update: Risk Limitation

Dear Traders,

FXOpen broker has implemented a new feature of the PAMM service — PAMM account drawdown limit. This mechanism will allow reducing losses of Subscribers' funds in case of unprofitable trading on a PAMM account.

How does it work?

• The Provider specifies the maximum allowable drawdown of a PAMM account.
• The Company monitors the drawdown 24 hours a day.
• If the PAMM account exceeds the drawdown limit, the Subscribers' funds will be withdrawn.

This update will help to arrange professional collaboration between the Provider and Subscribers, as well as create more comfortable conditions for PAMM service users.
PAMM technology is a reliable and accurate asset management tool for professional traders and investors.

You can find out more information about PAMM accounts on our website.

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

#news

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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

 

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AUD/USD AND NZD/USD SIGNALING MORE DOWNSIDES

AUD/USD started a fresh decline from the 0.7250 resistance and broke the 0.7120 support. NZD/USD is also declining and it is showing bearish signs below 0.6600.

• 
  Important Takeaways for AUD/USD and NZD/USD
  
• The Aussie Dollar traded below the 0.7200 and 0.7150 support levels against the US Dollar.
  
• There is a key bearish trend line forming with resistance near 0.7140 on the hourly chart of AUD/USD.
  
• NZD/USD declined sharply after it failed to surpass the 0.6680 resistance zone.
  
• There is a short-term bearish trend line forming with resistance near 0.6600 on the hourly chart of NZD/USD.

Read more on FXOpen blog: https://bit.ly/355rU5c

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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

 

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FXOpen Announces the Results of "Forex School" Contest
"Forex School", a free trading contest for demo accounts, ended on October 2. For four weeks, more than 900 participants were actively competing for the prize fund of 8,000 USD.

So, we have received the results of the contest and present the winners to you:

Place Account number Country Balance Prize
1 3046893 Russia $1468.1 $1200
2 3047200 China $1241.98 $1040
3 3047164 Pakistan $1175.48 $640
4 3047352 Belarus $1121.29 $560
5 3047768 Malaysia 1108.47 $560
6 3047672 Indonesia $1104.39 $400
7 3047003 China $1082.24 $400
8 3047024 Nigeria $1049.77 $400
9 3047452 Bulgaria $1018.67 $400
10 3047016 Uzbekistan $986.53 $400
11 3045080 Ukraine $978.44 $400
12 3047552 Swaziland $957.28 $400
13 3047538 Uzbekistan $943.5 $400
14 3045351 Russia $929.02 $400
15 3047288 Ukraine $922.13 $400

Read more...

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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.
10$ No Deposit Bonus for TickTrader ECN Accounts//Join FXOpen

 

[radex78]

ATTENTION! CONTEST AT FECEBOOK FXOPEN OFFICIAL PAGE

Guess the currency rate and get money.

We are starting a series of contests among our subscribers.
Each week we will give away $50 to our subscribers, who will provide the closest forecast for the EUR/USD pair

To take part in the contest you need to:

• 1. Share this this news on your page
• 2. Write in the comment to this post:

Your currency rate forecast (4 decimal places, EXAMPLE: 1.1313)

Number of your FXOpen trading account to speed up the process of transferring the prize money (open a trading account for free here: https://bit.ly/359VWEV)

Regulations:

• 1. The competition starts from the moment the post is published. Your answers are accepted until 10:00 MSK (GMT+3) 10/23/2020.
• 2. You are allowed to leave only one forecast.
• 3. If the forecast repeats, the winner is the participant who first posted their comment.
• 4. It is forbidden to change your comments.
• 5. The rate is compared to the forex rate on the ECN account on a closed daily candle on Friday.
• 6. To get the prize money, the winner must provide their FXOpen STP account in USD.

We will decide 3 winners.

• the most accurate forecast - $30 to your FXOpen account
• and as close as possible results - $10 each to your FXOpen account

* Prize funds are credited to FXOpen STP account as a bonus and will be available for withdrawal after a certain number of trades has been completed: $2 = 1 transaction with any order volume (30$ -15 trades, 10$ -5 trades).

** It is forbidden to withdraw money or transfer to another trading account until the above mentioned conditions are fulfilled.

Source FXOpen Facebook official page

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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.
10$ No Deposit Bonus for TickTrader ECN Accounts//Join FXOpen

 

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BTC AND XRP – PRICES BREAKOUT WITH FURTHER APPRECIATION LOOKING AHEAD

• BTC/USD
  The price of Bitcoin has been increasing from last Friday when it was sitting around $11221 at its lowest and reached $11847 at its highest today which is an appreciation of 5.58%. Currently, we have seen a minor pullback but the price is still in an upward trajectory indicating strong bullish momentum.
  Looking at the bigger picture this rise is the continuation of the upward move that started in September after the price came down to $9889 on the 8th. Since then we have seen a series of higher lows which indicated the start of another upward impulse but today’s higher high has validated that even further. This is why we are likely to expect further uptrend continuation as this increase is the next five-wave move to the upside out of which we are currently seeing the development of the 3rd wave from the Minute count.
  
• XRP/USD
  From last Tuesday when the price of Ripple was $0.26 to at its highest we have seen a decrease of 8.22% measured to its Fridays low at $0.238. The price started increasing from there as it found support on the ascending trendline and came slightly above the $0.25 level but has since fallen again below the $0.2473 horizontal pivot point. Now it is again attempting to surpass the levels as it’s in an upward trajectory but we are yet to see if the momentum proves strong enough.
  If we see a breakout above the significant horizontal resistance the price is likely headed slightly above the $0.26 area and the previous higher high for the completion of the 5th wave and would validate the ascending channel’s resistance level once more.

Read more on FXOpen blog: https://bit.ly/3m1cgyE

#cryptocurrencies#forex #traiding #crypto #cryptocurrency

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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

 

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STRONG RETAIL SALES IN THE UNITED STATES FAIL TO SEND THE USD HIGHER

Last Friday, the Retail Sales in the United States took everyone by surprise. On expectations of 0.7%, the actual number of 1.9% showed a resilient consumer, one that still has resources to spend. However, the impact on the currency market was minimal. In fact, the USD traded with a dovish tone all Friday, unable to react to the news.

But how is it possible for the retail sales to beat expectations in such a way during an economic recession?

Understanding the U.S. Consumer During the COVID-19 Pandemic

To fully understand the logic behind Friday’s number, we need to understand the role of the consumer in an economy. If the consumer does not spend, economic growth is not possible. Therefore, the news coming out of the United States is more than encouraging.
But it would not have been possible without the fiscal package delivered by the U.S. Congress.

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

#FinancialMarketNews#forex #forexnews #finance

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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.
10$ No Deposit Bonus for TickTrader ECN Accounts//Join FXOpen