FXOpen Daily Analytics forex and crypto trading

Please only post Search Engine and Webmaster Related stuff.
fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

AUD/USD and NZD/USD Could Extend Losses

AUD/USD started a fresh decline from well above 0.7250. NZD/USD is also declining and there is a risk of a move below the 0.6730 support.

Important Takeaways for AUD/USD and NZD/USD
  • The Aussie Dollar started a major decline from well above the 0.7250 level against the US Dollar.
  • There is a short-term breakout pattern forming with resistance near 0.7175 on the hourly chart of AUD/USD.
  • NZD/USD also declined sharply below the 0.6800 support zone.
  • There is a contracting triangle forming with resistance near 0.6755 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis

The Aussie Dollar struggled to clear the 0.7270 level against the US Dollar. The AUD/USD pair started a fresh decline below the 0.7250 support level.

The pair even traded below the 0.7220 support level and the 50 hourly simple moving average. It traded as low as 0.7146 on FXOpen and started consolidation. There was a minor move above the 0.7155 level.

AUD/USD Hourly Chart

However, the pair is facing resistance near the 0.7175 level. There is also a short-term breakout pattern forming with resistance near 0.7175 on the hourly chart of AUD/USD. The triangle resistance is near the 23.6% Fib retracement level of the downward move from the 0.7272 swing high to 0.7146 low.

The next major resistance is near the 0.7210 level. It is near the 50% Fib retracement level of the downward move from the 0.7272 swing high to 0.7146 low.

A close above the 0.7210 level could start a steady increase in the near term. The next major resistance could be 0.7250. On the downside, an initial support is near the 0.7150 level. If there is a downside break below the 0.71350 support, the pair could extend its decline towards the 0.7120 level. Any more downsides might send the pair toward the 0.7100 level.

Read more...

FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

GBP/USD Gains Momentum, USD/CAD Could Extend Losses


GBP/USD started a major increase above the 1.3500 resistance zone. USD/CAD declined below 1.2700 and remains at a risk of more downsides.

Important Takeaways for GBP/USD and USD/CAD
  • The British Pound started a fresh increase from the 1.3320 support zone.
  • There is a key bullish trend line forming with support near 1.3545 on the hourly chart of GBP/USD.
  • USD/CAD started a fresh decline from well above the 1.2800 pivot level.
  • There was a break below a major bullish trend line with support near 1.2730 on the hourly chart.
GBP/USD Technical Analysis
After a major decline, the British Pound found support above 1.3320 against the US Dollar. GBP/USD started a fresh upward wave above the 1.3500 level.

The bulls gained strength and pushed the pair above the 1.3550 level. A high was formed near 1.3597 on FXOpen and the pair is now consolidating gains. It is now trading well above the 1.3550 level and the 50 hourly simple moving average.


GBP/USD Hourly Chart

On the downside, the first support is near the 1.3570 area. It is near the 23.6% Fib retracement level of the upward move from the 1.3490 swing low to 1.3597 high.

The first major support is near the 1.3550 level. There is also a key bullish trend line forming with support near 1.3545 on the hourly chart of GBP/USD. It is close to the 50% Fib retracement level of the upward move from the 1.3490 swing low to 1.3597 high.

If there is a break below 1.3545, the pair could extend its decline. The next key support is near the 1.3500 level. Any more losses might call for a test of the 1.3450 support.

An immediate resistance is near the 1.3600 level. The first major resistance is near the 1.3620 level. If there is an upside break above the 1.3620 zone, the pair could rise towards 1.3700. The next key resistance could be 1.3750, above which the pair could gain strength.

Read more...

FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

Changes to FXOpen Trading Hours on Martin Luther King Jr. Day

Dear Traders,

Please be aware of the trading schedule changes on the Martin Luther King Jr. Day (all times are GMT+2):

Monday, January 17

Spot commodities CFD:
  • Gold (XAUUSD) – trading ends at 21:30;
  • Silver (XAGUSD) – trading ends at 21:30;
Indices CFD:
  • Japan 225 (#J225) – trading ends at 20:00;
  • US SPX 500 (#SPXm) – trading ends at 20:00;
  • US Tech 100 (#NDXm) – trading ends at 20:00;
  • Wall Street 30 (#WS30m) – trading ends at 20:00.
Stock CFD – trading closed.

All other financial instruments will be traded as usual.

Please consider this information as you plan your trading for the upcoming week.

Read more...

FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

EUR/USD and USD/CHF: Dollar Correcting Gains


EUR/USD is eyeing a key upside break above 1.1380 and 1.1400. USD/CHF remains supported on the downside near the 0.9200 zone.

PImportant Takeaways for EUR/USD and USD/CHF
  • The Euro is slowly moving higher above the 1.1350 resistance zone against the US Dollar.
  • There is a key bullish trend line forming with support near 1.1315 on the hourly chart of EUR/USD
  • USD/CHF started a downside correction from the 0.9280 resistance zone.0.
  • There is a major bullish trend line forming with support near 0.9215 on the hourly chart.
EUR/USD Technical Analysis

The Euro remained well bid above the 1.1300 zone against the US Dollar. The EUR/USD pair started a slow increase and there was a break above the 1.1320 resistance zone.

There was a clear break above the 1.1340 and 1.1350 levels. The pair climbed above the 76.4% Fib retracement level of the key decline from the 1.1364 swing high to 1.1284 low (formed on FXOpen).

EUR/USD Hourly Chart

It is now trading above 1.1370 level and the 50 hourly simple moving average. On the upside, an initial resistance is near the 1.1380 level.

The 1.236 Fib extension level of the key decline from the 1.1364 swing high to 1.1284 low is also near the 1.1380 level. The next major resistance is near the 1.1400 zone. A clear upside break above the 1.1400 zone could open the doors for a steady move.

The next major resistance sits near the 1.1450 level. On the downside, an immediate support is near the 1.1340 level. The next major support is near the 1.1320 level.

There is also a key bullish trend line forming with support near 1.1315 on the hourly chart of EUR/USD. A downside break below the 1.1320 support could start another decline. The next major support sits near 1.1300.

Read more...

FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

Overview of FXOpen's Best Performing PAMM Accounts in December 2021

FXOpen’s TOP-10 December 2021 PAMM Accounts

We at Team FXOpen hope that all our traders, managers, and investors had a great winter holiday season, and would once again like to wish everyone happiness and prosperity, as well as further success in your trading and investments.

The end-of-the-year / start-of-the-year transition period tends to be rather difficult for the market. Even professionals are prone to making mistakes. And, of course, any investor is interested in finding a manager who, even within a thin market, will be able to maintain stability in trading and bring profit to their subscribers. Such accounts can ensure the stability of the investment portfolio minimizing loss risks.

Find below the list of FXOpen’s best-performing PAMM accounts of 2021.

sensei

The just-concluded 2021 was a very productive year for this manager: they were able to earn more than 140% in profit. Only a couple of months in a year were not entirely successful and were closed with a conservative minus. In December, this provider's profitability wasn't too high at just +1.43%, but this is because they reduced risks, thereby increasing the stability of the account. The deposit load also went down, along with drawdowns. In December, the deposit load did not exceed 3.51%, the maximum drawdown was 8.27%. EURUSD remains their main trading cross-pair. Sensei's standard offer is joining with 500 USD or more.


Fastway

This provider has been trading on the FXOpen platform for 2 years already, and can safely be considered a model for stable trading. In 2021, they practically did not experience any serious drawdowns, except for when in September, the trade did not go too well. FastWay earned close to 95% in profit during 2021. In December, this provider was able to earn 8.49%, and the maximum drawdown for the last month of the year did not exceed 2.07% with a deposit load of 9.07%. The minimum deposit for joining this provider is 200 USD. The penalty for early withdrawal is just 5%.


IPx2

Throughout the year, this trader demonstrated their superior trading skills on this (IPFx2) account, and also on the IPF. Their preferred long-term trading instrument is #NDXm, which is still bringing profit to investors, but another tool was added recently, #SPXm. During the year, this account earned 92% in profit, and in December, the profitability reached 9.24% with a minimum deposit load of 3.35%. This manager's offer is especially convenient for novice investors, since one can join this account with just 1 USD.

Pandorum

This provider has been trading on the FXOpen platform for 1.5 years now, and is still showing fairly stable results. The drawdowns are rare and quite low, and the trader manages to deal with them quickly. Most likely, this manager is utilizing an averaging strategy advisor. Over the past year, they were able to earn almost 35% in profits. In December, the profit was 9.85% with a minimum deposit load of 0.52%. It should be noted that the maximum drawdown of 28.52% is still preserved on the account. At the time of this writing, no floating drawdown is observed. Major trading pairs are NZDCAD, AUDCAD, AUDNZD. You can join the account with just 1 USD. There is no penalty for early withdrawal.


MIGdolla

In 2021, this provider came into the limelight primarily thanks to their profitability. Over the year, they were able to earn more than 200% in profit, with a deposit load as low as 14%. In December, the provider was able to earn just 1.08%, which, however, did not affect investors’ interest in him. This provider's main trading instruments are #NDXm and #NDXM. Some long-term deals are opened. MIGdollar's trading can be described as moderately aggressive. You can join them for just 1 USD.


Read more...

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

FXOpen Leads the Way Into 2022 With 33 New Ultra-Modern ETF CFDs

A new year is upon us, and the ever-evolving nature of the electronic derivatives trading market is in full swing.

As a committed broker in providing you, our valued traders, with an extensive product range, FXOpen is delighted to announce the launch of 33 comprehensive ETFs which range from technologically advanced innovators in automation and robotics, automotive battery technology, to minerals and mining companies, and the traditional and alternative energy sectors.

The newly available funds, which are now accessible via TickTrader, our highly acclaimed platform, offer our traders the opportunity to invest in the prices of these 33 ETFs.

Start trading ETF CFDs with FXOpen

In order to maximize market opportunity, FXOpen is offering these new ETFs with a leverage ratio of 1:5, which is identical to that offered to our stock CFD traders. This means that you, our loyal clients, can now trade ETFs in the form of CFDs which facilitates investment in the prices of these cutting edge instruments.

Gary Thomson, Chief Operating Officer at FXOpen UK, commented on the development: "It is essential that FXOpen continues to provide a fully comprehensive product range to our discerning clients who are increasingly looking for interesting funds to trade. We are committed to ensuring that all of our valued clients are able to access a multi-asset portfolio of up-to-the-minute products and be able to trade them via our world renowned platform which offers class leading execution. To stay ahead of the game, ETFs that focus on current technology and physical products are an essential part of a modern trading environment."

Interested in trading ETF CFDs with FXOpen? Open and fund an account with us today.

Trade ETF CFDs with FXOpen

FXOpen Customer Service

E-mail: support@fxopen.com

Read more...

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

Gold Price and Crude Oil Price Aim More Upsides

HGold price is gaining pace above the $1,805 resistance zone. Crude oil price is correcting gains, but dips might be limited below the $80.00 support.

Important Takeaways for Gold and Oil
  • Gold price is gaining pace and trading above the $1,820 zone against the US Dollar.
  • There is a key bullish trend line with support near $1,820 on the hourly chart of gold.
  • Crude oil price started a downside correction from the $82.50 resistance zone.
  • There is a major bullish trend line forming with support near $81.20 on the hourly chart of XTI/USD.
Gold Price Technical Analysis

Gold price started a fresh increase from the $1,784 support zone against the US Dollar. The price gained pace above the $1,800 resistance to move into a positive zone.

The price settled well above the $1,810 level and the 50 hourly simple moving average. The price traded as high as $1,828 before there was a downside correction. The price declined below $1,820, but the bulls were active above $1,810.

Gold Price Hourly Chart

A low is formed near $1,812 on FXOpen and the price is now rising. There is also a key bullish trend line with support near $1,820 on the hourly chart of gold. There was a clear move above the 50% Fib retracement level of the downward move from the $1,828 swing high to $1,812 low.

It is now trading near the $1,825 level. It is near the 76.4% Fib retracement level of the downward move from the $1,828 swing high to $1,812 low.

On the upside, the price is facing resistance near the $1,828 level. The main resistance is near the $1,830 level. A close above the $1,830 level could open the doors for a steady increase towards $1,850. The next major resistance sits near the $1,865 level.

On the downside, an initial support is near the $1,820 level. The first major support is near the $1,810 level. A downside break below the $1,810 support zone may possibly spark a steady decline. In the stated case, the price could test the $1,780 support.

Read more...

FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

GBP/USD and GBP/JPY Eye Upside Continuation

GBP/USD started a fresh increase from the 1.3500 zone and climbed above 1.3600. GBP/JPY is also rising, but it is facing resistance near 156.60.

Important Takeaways for GBP/USD and GBP/JPY
  • The British Pound started a fresh increase above the 1.3500 and 1.3600 resistance levels against the US Dollar.
  • There is a major bullish trend line forming with support near 1.3645 on the hourly chart of GBP/USD.
  • GBP/JPY also started a steady increase above the 156.00 and 156.20 resistance levels.
  • There is a key bearish trend line forming with resistance near 156.65 on the hourly chart.
GBP/USD Technical Analysis

After a major decline, the British Pound found support near the 1.3500 zone against the US Dollar. The GBP/USD pair started a fresh increase above the 1.3550 and 1.3600 resistance levels to move into a positive zone.

There was also a break above the 1.3680 zone and the 50 hourly simple moving average. It traded as high as 1.3748on FXOpen and is currently correcting gains.

GBP/USD Hourly Chart

There was a minor decline below the 1.3720 level. The pair traded below the 23.6% Fib retracement level of the upward move from the 1.3490 swing low to 1.3748 high. On the downside, an immediate support is near the 1.3680 level.

There is also a major bullish trend line forming with support near 1.3645 on the hourly chart of GBP/USD. The next major support is near the 1.3620 level.

The 50% Fib retracement level of the upward move from the 1.3490 swing low to 1.3748 high is also near the 1.3620 zone. If there is a break below the 1.3620 support, the pair could test the 1.3550 support. If there are additional losses, the pair could decline towards the 1.3500 level.

On the upside, the pair is facing resistance near the 1.3720 level. A close above the 1.3720 level could open the doors for more gains. The next major hurdle is near 1.3750, above which the pair could surge towards 1.3850.

Read more...

FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

FXOpen Leads the Way Into 2022 With 33 New Ultra-Modern ETF CFDs


A new year is upon us, and the ever-evolving nature of the electronic derivatives trading market is in full swing.

As a committed broker in providing you, our valued traders, with an extensive product range, FXOpen is delighted to announce the launch of 33 comprehensive ETFs which range from technologically advanced innovators in automation and robotics, automotive battery technology, to minerals and mining companies, and the traditional and alternative energy sectors.

The newly available funds, which are now accessible via TickTrader, our highly acclaimed platform, offer our traders the opportunity to invest in the prices of these 33 ETFs.

Start trading ETF CFDs with FXOpen

In order to maximize market opportunity, FXOpen is offering these new ETFs with a leverage ratio of 1:5, which is identical to that offered to our stock CFD traders. This means that you, our loyal clients, can now trade ETFs in the form of CFDs which facilitates investment in the prices of these cutting edge instruments.

Gary Thomson, Chief Operating Officer at FXOpen UK, commented on the development: "It is essential that FXOpen continues to provide a fully comprehensive product range to our discerning clients who are increasingly looking for interesting funds to trade. We are committed to ensuring that all of our valued clients are able to access a multi-asset portfolio of up-to-the-minute products and be able to trade them via our world renowned platform which offers class leading execution. To stay ahead of the game, ETFs that focus on current technology and physical products are an essential part of a modern trading environment."

Interested in trading ETF CFDs with FXOpen? Open and fund an account with us today.

Trade ETF CFDs with FXOpen

FXOpen Customer Service

E-mail: support@fxopen.com

Read more...

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

Australian Dollar falls in major move against Euro as consumer confidence hits 30 year low

After a week-long period of no movement, the Euro has suddenly leapt into life this morning against the Australian Dollar.

Suddenly, as the markets in Europe began their trading week, the Euro rose to 1.584 against the Australian Dollar in the pre-opening early hours of the morning, representing a considerable move given that major currencies are not known for their volatility. Indeed, some entire trading strategies have become based on low volatility as this has been the status quo for many years now.

At the beginning of this month, the EURAUD pair was trading at 1.558, therefore a rise to 1.584 is, by comparison to general movements among major currency pairs, absolutely massive.

Whilst the Euro's move against the Australian Dollar is the largest currency move of the day, it is worth noting that the British Pound made a similar gain over the Australian Dollar, for similar reasons.

It is possible that part of this lack of confidence in the Australian Dollar may come from the continual hectoring that the Australian government appears to be engaging in toward its businesses and citizens.

For example, yesterday it was reported that Australian citizens returning from overseas trips have been asked to hand their smartphones over to the Australian Border Force, with one particular report having stated that a man and his partner were instructed to write their phone passcodes on a piece of paper, before the border officials took their phones into another room.

This is the latest in a long line of draconian restrictions and surveillance efforts being carried out by the Australian government, which has become known as one of the most stringent on earth when it comes to enforcing curbs over Covid 19, and curbs, data security and privacy issues, and a seemingly illiberal position taken by government are not often viewed as favorable conditions for a thriving economy.

Such curbs have therefore dented confidence in the Australian economy, and cast doubts over its position as a liberal and poltically free country going forward.

It could be that as parts of Europe still have some restrictions whereas others have none, trade between Euro-denominated countries and other regions of the world is becoming a bit easier, whereas Australia, whose main trading partner is China and in which personal movement and what could have been considered the normal way of life before March 2020 has shown no sign of return.

The EURAUD pair has moved 0.54% since yesterday, which was already an upward turn over Friday's close at just over 1.57.

The real elephant in the room is that Australia's Consumer Confidence index, which is used to measure how buoyant the retail part of the economy is, is at a very low point.

Figures were revealed for January 2022 this morning and it shows that many Australians are avoiding spending. In fact, confidence is at its lowest point since 1992, and just last week alone, Australian consumer confidence fell by 7.6%, sinking to its lowest rate since October 2020.

Data for all of Australia's states fell below the neutral confidence level of 10o, and to accompany this negativity, all of the subindices were also down, including current financial conditions having declined by 11.3%. The number of respondents to the confidence index survey who stated that now was “the time to buy a major household item” also reduced by 11.4%.

Things are very different in today's Australia compared to how they were at the beginning of 2020, and the terse relationship with China combined with the ongoing government position on Covid are weighing heavily on the minds of investors looking at the immediate future.

Read more...

Gary Thomson

Gary Thomson is the Chief Operating Officer at FXOpen UK. Having spent over 20 years of his career working in financial services, Gary is renowned for his expert market analysis and commentary.

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

EUR/USD and EUR/JPY Show Bearish Signs

EUR/USD started a fresh decline below the 1.1420 support. EUR/JPY is declining and could accelerate lower below 129.70.

Important Takeaways for EUR/USD and EUR/JPY
  • The Euro started a fresh decline after it faced sellers near the 1.1480 level.
  • There was a break below a key bullish trend line with support near 1.1405 on the hourly chart.
  • EUR/JPY gained bearish momentum below the 130.50 and 130.20 support levels.
  • There is a major bearish trend line forming with resistance near 130.90 on the hourly chart.
EUR/USD Technical Analysis

The Euro gained pace above the 1.1400 and 1.1450 resistance levels against the US Dollar. However, the EUR/USD pair struggled to gain pace above 1.1480 and started a fresh decline.

The pair traded below the 1.1420 support and settled below the 50 hourly simple moving average. There was a clear break below the 50% Fib retracement level of the upward move from the 1.1284 swing low to 1.1482 high (formed on FXOpen).

EUR/USD Hourly Chart

Besides, there was a break below a key bullish trend line with support near 1.1405 on the hourly chart. The pair is now trading below the 1.1350 level and the 50 hourly simple moving average.

It is now trading near the 76.4% Fib retracement level of the upward move from the 1.1284 swing low to 1.1482 high. Any more losses might send the pair towards the 1.1280 support zone. On the upside, the pair is facing resistance near the 1.1350 level.

The next major resistance is near the 1.1380 level. The main resistance is forming near the 1.1400 level. A clear break above the 1.1400 resistance could push EUR/USD towards 1.1450. If the bulls remain in action, the pair could rise above the 1.1480 resistance zone in the near term.

Read more...


FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

#MarketNews #Emas

STABILITAS HARGA EMAS

Emas berjangka naik pada hari Rabu, mencapai level tertinggi dua bulan

Kenaikan harga logam mulia dapat dijelaskan dengan:
  • melemahnya dolar AS,
  • antisipasi kenaikan suku bunga oleh The Fed,
  • koreksi imbal hasil obligasi negara setelah naik tajam.
“Kami berpikir bahwa imbal hasil Treasury kemungkinan akan segera mencapai puncaknya dan, jika kami benar, itu dapat menaikkan harga emas hingga $2.000 atau lebih,” Michael Armbruster, Managing Partner di Altawest, mengatakan kepada MarketWatch.

Harga emas bergerak dalam saluran naik (1). Namun, ada resistensi penting yang menghalangi kenaikan di sekitar $1,860 (2) yang dibentuk oleh aktivitas perdagangan pada November 2021. Pembelian besar (3) tercatat pada 11 Januari di kisaran 1,807-1,811. Setelah menguji area permintaan ini pada 18 Januari (4), harga melonjak ke batas atas saluran.

Resistensi 1.860 menjanjikan untuk menjadi ujian penting dari kekuatan sebenarnya dari pasar emas.

Untuk mendapatkan keuntungan dari pertumbuhan dan/atau penurunan harga emas atau perak, pertimbangkan untuk menggunakan layanan broker terpercaya seperti FXOpen (https://www.fxopen.com/en/)


Sumber FXOpen telegram channel


FXOpen Customer Service
E-mail:support@fxopen.com

fxoday
Posts: 68
Joined: Fri Nov 05, 2021 4:42 pm

Re: FXOpen Daily Analytics forex and crypto trading

Post by fxoday »

AUD/USD and NZD/USD Remain At Risk

AUD/USD started a fresh decline from the 0.7275 zone. NZD/USD is also declining and there is a risk of a move below the 0.6720 support.


Important Takeaways for AUD/USD and NZD/USD
  • The Aussie Dollar started another decline from well above the 0.7250 level against the US Dollar
  • There was a break below a key bullish trend line with support near 0.7200 on the hourly chart of AUD/USD.
  • NZD/USD also declined sharply below the 0.6750 support zone.
  • There is a connecting bearish trend line forming with resistance near 0.6790 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis

The Aussie Dollar struggled to clear the 0.7275 level against the US Dollar. The AUD/USD pair started a fresh decline below the 0.7250 support level to move into a bearish zone.

The bears were able to push the pair below the 50% Fib retracement level of the upward move from the 0.7170 swing low to 0.7275 high (formed on FXOpen). Besides, there was a break below a key bullish trend line with support near 0.7200 on the hourly chart of AUD/USD.

AUD/USD Hourly Chart

The pair settled below the 0.7220 support level and the 50 hourly simple moving average. It is now consolidating near the 0.7185 level.

The 76.4% Fib retracement level of the upward move from the 0.7170 swing low to 0.7275 high is also protecting losses. On the downside, an initial support is near the 0.7170 level. If there is a downside break below the 0.7170 support, the pair could extend its decline towards the 0.7125 level.

Any more downsides might send the pair toward the 0.7100 level. On the upside, the pair is facing resistance near the 0.7210 level.

The next major resistance is near the 0.7240 level. A close above the 0.7240 level could start a steady increase in the near term. The next major resistance could be 0.7300.

Read more...

FXOpen Customer Service
E-mail:support@fxopen.com

Post Reply

Who is online

Users browsing this forum: No registered users and 3 guests