Daily Technical Analysis FXOpen

[radex78]

EUR/USD APPROACHING BULLISH BREAKOUT, USD/CHF COULD DIVE

EUR/USD is rising and it is likely to accelerate higher above 1.1910. USD/CHF is struggling to recover and it could dive below the 0.9100 support zone.

Important Takeaways for EUR/USD and USD/CHF

• The Euro started a fresh increase above the 1.1850 and 1.1880 resistance levels against the US Dollar.
  
• There was a break above a key bearish trend line with resistance near 1.1888 on the hourly chart of EUR / USD.
  
• USD/CHF failed to climb above 0.9150 and started a fresh decline.
  
• There is a major bearish trend line forming with resistance near 0.9120 on the hourly chart.

Read more on FXOpen blog: https://bit.ly/3fuYuT1

# forexanalysis # EURUSD #USDCHF

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[radex78]

LTC AND EOS – STEEP CORRECTION SEEN BUT LIKELY ENDING SOON

• LTC/USD
  The price of Litecoin has been decreasing from Tuesday when it reached the $93.9 level and made a decline of 24.3% measured to its lowest point today $70.6. Currently, the price is being traded slightly higher but is still in a steep downward trajectory.
  The price made its yearly high above the significant horizontal level at $86.48 on Tuesday which was the completion of the 5th wave out of the five-wave impulse to the upside. The lower level at around $84 is the one that represents the previous highest peak of the year made in February.
  
• EOS/USD
  From yesterday’s high at $3.89 the price of EOS has decreased by 26.24% today, coming to $2.88 at its current point which is the lowest. Like in the case of Litecoin the price is still in a steep downward trajectory, set to make new lows before the end of the day.
  We are seeing the ending wave developing from the five-wave impulse which is most likely the C wave from the higher degree corrective count but further decline looks likely before its completion. Considering the vicinity of the 0 Fib level we might see a continuation of this descending move to it for interaction before its completion, which would lead the price to $2.775.

Read more on FXOpen blog: https://bit.ly/3q7t4ai

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[radex78]

GOLD PRICE CONSOLIDATES LOSSES WHILE OIL PRICE GAINS TRACTION

Gold price declined heavily below $1,850 and tested the $1,800 support zone. Conversely, crude oil price gained bullish momentum above $42.00 and it even traded to a new multi-month high.

Important Takeaways for Gold and Oil

• Gold price declined below the $1,850 and $1,835 support levels against the US Dollar.
  
• There is a key contracting triangle forming with resistance near $1,812 on the hourly chart of gold.
  
• Crude oil price is currently correcting gains after trading close to the $46.50 level.
  
• There is a major contracting triangle forming with resistance near $45.35 on the hourly chart of XTI/USD.

Read more on FXOpen blog: https://bit.ly/2J3FX4t

#ForexAnalysis#XTIUSD #XAUUSD

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[radex78]

THE BLACK FRIDAY PHENOMENA, AND HOW IT AFFECTS THE MARKET

At first, this day was known as the day of the stock market collapse, and now it is a festival of all shopaholics in the world. And although the meaning of this term has changed to the exact opposite, today Black Friday is still the subject of close attention of all market players.
Every season, analysts make predictions about the growth of sales on Black Friday, and each time investors freeze waiting to see if these predictions will come true.

A BIT OF HISTORY

The term Black Friday was originally used to describe one unlucky day in 1869, when the stock market collapsed due to the manipulations of two American investors, Jay Gould and James Fisk, who provoked a real financial disaster after unsuccessful gold market manipulations.
The term came close to modern interpretation somewhere in the 1940s, also in the US. In an attempt to attract more people the next day after Thanksgiving, the stores provoked traffic jams and road accidents in the cities. Later, the term came to be used by producers of goods that were likely to become profitable on sales days, so companies sought to make big sales and put these positions ‘in the black’, or profitable, for the next year.

Read more on FXOpen blog: https://bit.ly/368oHDP

#forextradingtips

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[radex78]

KEY EVENTS TRADERS SHOULD CONSIDER IN DECEMBER 2020

Today marks the end of November, and what a month it was! The world received positive vaccine news three weeks in a row, triggering a rally on the stock market and on the price of oil.
As usual, the first week of the new month brings with it the jobs data in the United States on Friday, but this is not the only important event of the month, as both the ECB and the Fed are scheduled to announce their interest rate decisions.

NFP Friday

The new month starts with the NFP release on the first Friday, as usual. If we are to interpret the initial jobless claims released through November, the chances are that the NFP will miss the target on Friday. However, until Friday, the Fed’s Chair Powell is scheduled to testify in front of the Senate and his words may bring increased volatility on the USD pairs.

ECB Next Week

All eyes will be on the ECB decision next week. The central bank is expected to ease the monetary policy further, even though it ruled out further interest rate cuts. As such, the market expects an increase in the QE programs as well as improved conditions on the TLTRO terms.

Read more on FXOpen blog: https://bit.ly/39quh6n

#FinancialMarketNews

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[radex78]

FXOpen Launches Local Bank Transfers in Argentina, Brazil, and Mexico

Dear Clients,
FXOpen is pleased to announce that we've added new methods of depositing funds. Clients from Argentina, Brazil, and Mexico can now carry out transactions via local bank transfers: Rapipago, `Boleto Bancário and Oxxo.

Rapipago is an Argentinian prepaid payment method used for online purchases. The system generates a voucher that can be paid offline at one of the 6000+ Rapipago payment locations. Rapipago supports payments between 1200+ companies and their consumers — around 19 million transactions per month. Rapipago’s card, check, and cash-based transactions ultimately collect money on behalf of merchants and utility firms.

OXXO is a chain of convenience stores that offers alternative cash payments in Mexico. Around 71 million Mexicans do not own a bank account, and OXXO allows merchants to tap into this substantial group of online buyers. With more than 16,000 stores across the country, consumers can pay for their online purchases in cash, and merchants have a zero chance of a chargeback.

Boleto Bancário is an official Brazilian payment method regulated by the Central Bank of Brazil. It is a push payment system which was launched in 1993 and today generates 3.7 billion transactions per year. Accounting for around 25% of all online payment transactions, it is a must for doing business in Brazil.

Baca lebih lanjut

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[radex78]

EUR/USD AND EUR/JPY: EURO GAINING BULLISH MOMENTUM

EUR/USD started a strong increase and it surged above the 1.2000 resistance. EUR/JPY is also gaining momentum and it is trading well above the 125.00 resistance.

Important Takeaways for EUR/USD and EUR/JPY

• The Euro started a strong increase above the 1.1950 and 1.2000 resistance levels.
• There was a break above a key connecting resistance trend line at 1.2030 on the hourly chart of EUR/USD.
• EUR/JPY followed a similar pattern and broke the main 125.00 resistance.
• There was a break above a major rising channel with resistance near 125.30 on the hourly chart.

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[radex78]

LTC AND EOS – FINAL PUSH TO THE UPSIDE COMING?

• LTC/USD
  From last Thursday, November 26th when the price of Litecoin was sitting at the $65 level, we have seen an increase of 42.64% measured to its highest point at $92.664 made on Tuesday. Since then the price has been moving sideways, spiking to the downside at first but then making a series of lower highs. Currently, it is being traded $90 and is starting to move to the upside again.
  
• EOS/USD
  The price of EOS has also been increasing from last Thursday, coming from $2.77 area to $3.315 which was an increase of 19.26%, but has since then fallen to $3 and is currently being traded at $3.1. The price has started moving the to upside again after falling back to the levels of the 1st wave’s ending point after a previous higher degree descending move.

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

#cryptocurrencies

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[radex78]

LTC AND EOS – FINAL PUSH TO THE UPSIDE COMING?

• LTC/USD
  From last Thursday, November 26th when the price of Litecoin was sitting at the $65 level, we have seen an increase of 42.64% measured to its highest point at $92.664 made on Tuesday. Since then the price has been moving sideways, spiking to the downside at first but then making a series of lower highs. Currently, it is being traded $90 and is starting to move to the upside again.
  
• EOS/USD
  The price of EOS has also been increasing from last Thursday, coming from $2.77 area to $3.315 which was an increase of 19.26%, but has since then fallen to $3 and is currently being traded at $3.1. The price has started moving the to upside again after falling back to the levels of the 1st wave’s ending point after a previous higher degree descending move.

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

#cryptocurrencies

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[radex78]

AUD/USD AND NZD/USD SIGNALING DOWNSIDE CORRECTION

AUD/USD gained momentum above the 0.7400 level before it faced sellers near 0.7445. NZD/USD is also correcting gains and it could test the 0.7020 support.

Important Takeaways for AUD/USD and NZD/USD

• The Aussie Dollar followed a bullish path above the 0.7350 and 0.7400 resistance levels against the US Dollar.
• There was a break above a key contracting triangle with resistance near 0.7385 on the hourly chart of AUD/USD.
• NZD/USD surged above 0.6950 and 0.7000, and even traded close to 0.7120.
• A major ascending channel is forming with support near 0.7055 on the hourly chart of NZD/USD.

#FXANALYSIS#FOREX#AUDUSD#

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