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XRP/USD analysis

From Sunday’s high at $0.26198 we have seen the price of Ripple decreasing by 5.6% as it came down to$0.24731 on the next day. The price is currently being traded slightly higher but is still around the vicinity of the yesterday’s low.

Looking at the hourly chart, you can see that the price of Ripple made a higher high compared to the previous one around $0.25 which could be interpreted as the 5th wave out of the five-wave move to the upside. The increase was stopped out at 0.618 Fibonacci level which makes this level as a significant resistance point and is most likely going to serve as a pivot point between a bullish scenarios in which the price of Ripple is to continue increasing from here or a bearish scenarios in which the price of Ripple could start moving to the downside as the C wave of a higher degree ended. This will be validated by the breakout direction from the current resistance zone between the mentioned Fib level and the$0.24730 interrupted supper level. If the price breaks out to the upside further increase could be expected above the 0.5 Fib level, but if it breaks the zone’s support we could see a retracement all the way down below $0.2/ Read more https://www.fxopen.blog/btc-and-xrp-has-the-increase-ended/ 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 Sponsored Post radex78 Active Member USD/CHF Technical Analysis The US Dollar found support near the 0.9630 level and started a fresh increase against the Swiss franc. The USD/CHF pair broke the 0.9650 and 0.9660 resistance levels to move back into a bullish zone. Moreover, there was a break above a connecting bearish trend line at 0.9660 on the hourly chart. The pair even settled above the 0.9680 level and the 50 hourly simple moving average. It opened the doors for more gains above the 38.2% Fib retracement level of the last decline from the 0.9766 high to 0.9628 low. At the outset, the pair is following a major ascending channel with support near the 0.9692 level on the same chart. An immediate resistance is near the 0.9700 level, plus the 50% Fib retracement level of the last decline from the 0.9766 high to 0.9628 low. The main hurdle is near the 0.9715 level, above which there are chances of a strong rise in the near term. In the mentioned case, the pair could even test the 0.9750 level. On the downside, there are many supports near 0.9680 and 0.9660. If the USD/CHF pair fails to stay above the 0.9660 support, there is a risk of a drop towards the 0.9625 level. The next key support is near the 0.9600 area. Read more https://www.fxopen.blog/eur-usd-diving-while-usd-chf-is-showing-positive-signs/ 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 Active Member EOS/USD analysis In the case of EOS we can see a similar situation like on Litecoin’s chart, as the price continued increasing after a minor retracement since the start of the week. From Tuesday’s low at$4 the price gainer 13.72% coming to $4.6262 at it’s highest point today, around which it is still currently being traded. Looking at the hourly chart, you can see that it reached a horizontal level which isn’t as significant one but could provide an early indication that the 5th wave could have ended or is near completion as the price is starting to enter the upper range. From December last year when the price of EOS was sitting at it’s yearly low at$2.12 we have seen an increase of 117% which is why most likely this increase is coming shortly to an end with either the first major retracement in a starting uptrend or further downtrend continuation. This will depend on the price momentum to the downside from which we are to evaluate the possibilities, but in either way further increase would be expected before this starts.

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Oil Price Technical Analysis

In the past few days, there was a steady decline in crude oil price below the $55.00 support level against the US Dollar. The price traded below many key supports near the$52.50 and $52.00 levels. It even broke the$50.00 support level and traded towards the $49.40 level. A low is formed near$49.38 and the price is currently recovering higher.

It surpassed the $50.50 resistance area and the 50 hourly simple moving average. Recently, it climbed above$51.50, but it struggled to gain pace above $52.25. It trimmed gains and revisited the$50.50 zone.

A low is formed near $50.34 and the price is currently rising. It is trading above the 50% Fib retracement level of the recent decline from the$52.26 high to $50.34 low. However, there are many hurdles on the upside near$51.50 and $52.00. Besides, there is a key bearish trend line forming with resistance near$51.80 on the hourly chart of XTI/USD.

If the ascending channel is broken on the downside the price of Ripple will be set into a retracement of a higher degree most likely below the 0.26617 horizontal level and potentially to around the 0.786 Fibonacci one which will serve as the first support point to the downside. But if the price finds support at the 0.26617 horizontal level and interaction with the next significant one could be expected which would bring the price of Ripple close to $0.3. Read more https://www.fxopen.blog/btc-and-xrp-retracement-soon-expected/ 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 Active Member USD/JPY Technical Analysis The US Dollar rallied sharply above 109.00 this past week against the Japanese Yen. The USD/JPY pair broke many resistances near 109.25 and 109.40 to move into a positive zone. Moreover, there was a close above the 109.50 level and the 50 hourly simple moving average. Finally, the pair tested the 110.00 resistance area, where the bears emerged. The pair started consolidating gains below 110.00 and remained well bid above 109.50. The last swing low was near 109.53 and the high was at 109.95. The corrected lower below the 38.2% Fib retracement level of the upward move from the 109.53 low to 109.95 high. However, the pair remained supported near the 109.75 level. It seems like there is a major contracting triangle forming with resistance near 109.95 on the hourly chart. If there is an upside break above the 109.95 and 110.00 levels, the pair could rise sharply in the near term. In the mentioned case, the pair might test the 110.50 level. Conversely, the pair could struggle to stay above the triangle support, and the 50% Fib retracement level of the upward move from the 109.53 low to 109.95 high. If USD/JPY slides below the 109.75 and 109.50 supports, it could start a strong downside correction towards 109.00 or even 108.80. Read more https://www.fxopen.blog/eur-usd-and-usd-jpy-trading-near-make-or-break-levels/ 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 Active Member EOS/USD technical analysis From yesterday’s open at$5.24 the price of EOS has increased by 4.52% and came up to $5.4 before it made it back down to the levels of yesterday’s open around which it is still being traded. Looking at the hourly chart, you can see that the price of EOS similarly like in the case of Litecoin reached it’s significant resistance point and confirmed it by an interaction that caused a minor but a sharp downturn. We have seen an ascending range with a minor spike to the downside which could have been the end of the 5th wave for both the Minuette and the Minute count but since there hasn’t been an interaction with the ascending interrupted level or the horizontal resistance at$5.58 we might see further increase to those levels before a significant retracement starts.

If the 5th wave has been completed the price is now set to begin the correction of a higher degree which can push the price of EOS significantly lower, but there isn’t been much indication that the move started which is why we could see further retest of the upper resistance levels before this expected downturn.

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