Daily Market Analysis By FXOpen

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  1. #501
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    Daily Market Analysis By FXOpen
    ETHUSD and LTCUSD Technical Analysis 21st JULY, 2022


    ETHUSD: Hanging Man Pattern Below $1627

    Ethereum was unable to sustain its bullish momentum and after touching a high of 1627 on 19th July started to decline against the US dollar coming down below the $1500 handle in the European trading session today.

    We can see that ETH is losing ground against the US dollar and no major uptrend formation was seen.

    The prices touched an intraday low of $1466 and an intraday high of $1565 in the Asian trading session today.

    We can clearly see a hanging man pattern below the $1627 handle which is a bearish pattern and signifies the end of a bullish phase and the start of a bearish phase in the markets.

    ETH is now trading just above its pivot levels of 1485 and moving into a mildly bearish channel. The price of ETHUSD is now testing its classic support level of 1450 and Fibonacci support level of 1476 after which the path towards 1300 will get cleared.

    The relative strength index is at 39 indicating a weak market and the continuation of the downtrend in the markets.

    We can see the progression of a bearish trendline formation from $1627 to $1488 which indicates that we are heading towards $1436.

    Both the commodity channel index and Williams percent range are indicating a neutral market.

    All of the technical indicators are giving a strong sell market signal.

    Most of the moving averages are giving a sell signal, and we are now looking at the levels of $1400 to $1350 in the short-term range.

    ETH is now trading above both its 100 hourly simple and exponential moving averages.

    • Ether: bearish reversal seen below the $1627 mark
    • Short-term range appears to be mildly bearish
    • ETH continues to remain above $1400
    • The average true range is indicating less market volatility


    Ether: Bearish Reversal Seen Below $1627


    ETHUSD is now moving into a mildly bearish channel with the prices trading below the $1500 handle in the European trading session today.

    We have also detected the formation of MA20 and MA50 crossover patterns located at 1529 and 1545 in the hourly time frame indicating that the price is likely to descend below.

    We can see that the prices of Ethereum are slowly preparing for moving into a consolidation channel above the $1400 handle.

    We can also see the formation of three black crows patterns in the 15-minute time frame indicating the bearish nature of the markets.

    In the 2-hour time frame, the super trend indicator is giving bearish reversal signals.

    The key support levels to watch are $1385 and $1335, and the prices of ETHUSD need to remain above these levels for any potential bullish reversal in the markets.

    ETH has decreased by 2.79% with a price change of 42$ in the past 24hrs and has a trading volume of 23.086 billion USD.

    We can see an increase of 2.31% in the total trading volume in the last 24 hrs. which appears to be normal.

    The Week Ahead

    We can see that ETH failed to clear the resistance zone located at $1650, and with the continued bearish reversal, we are now heading towards the $1400 level.

    The prices of Ethereum are preparing to enter into a consolidation phase below the $1500 level and we can see some range-bounded movements between the $1400 and $1500 levels this week.

    The immediate short-term outlook for Ether has turned mildly bearish; the medium-term outlook has turned neutral; and the long-term outlook for Ether is neutral in present market conditions.

    The price of ETHUSD will need to remain above the important support level of $1400 this week.

    The weekly outlook is projected at $1550 with a consolidation zone of $1400.

    Technical Indicators:

    STOCH (9,6): at 22.50 indicating a sell

    The moving averages convergence divergence (12,26): at -17.75 indicating a sell

    The rate of price change: at -3.93 indicating a sell

    The ultimate oscillator: at 46.50 indicating a sell

    Read Full on FXOpen Company Blog...

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    Gold Price and Crude Oil Price Aim Fresh Increase


    Gold price started a major decline below the $1,725 support zone. Crude oil price is attempting a fresh increase from the $88.80 support zone.

    Important Takeaways for Gold and Oil

    • Gold price struggled above $1,740 and declined against the US Dollar.
    • Recently, there was a break above a key bearish trend line with resistance near $1,705 on the hourly chart of gold.
    • Crude oil price started a downside correction from the $100 and $101 resistance levels.
    • There was a break below a major bullish trend line with support near $98.95 on the hourly chart of XTI/USD.


    Gold Price Technical Analysis

    Gold price struggled to gain pace above the $1,750 resistance zone against the US Dollar. The price started a fresh decline and traded below the $1,725 pivot level.

    There was a clear move below the $1,712 support zone and the 50 hourly simple moving average. The price even traded below the $1,700 level and formed a low near $1,680 on FXOpen. It is now correcting losses above the $1,695 level.

    Gold Price Hourly Chart


    There was a break above a key bearish trend line with resistance near $1,705 on the hourly chart of gold. The price even climbed above the $1,712 level but struggled to clear $1,720.

    A high is formed near $1,720 and the price is now consolidating gains. On the downside, an initial support is near the $1,710 level. It is near the 23.6% Fib retracement level of the upward move from the $1,680 swing low to $1,720 high.

    The next major support is near the $1,700 level or the 50% Fib retracement level of the upward move from the $1,680 swing low to $1,720 high, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,680 support zone.

    On the upside, the price is facing resistance near the $1,720 level. A clear upside break above the $1,720 resistance could send the price towards $1,735. The main resistance is now forming near the $1,750 level. A close above the $1,750 level could open the doors for a steady increase towards $1,780.

    Read Full on FXOpen Company Blog...

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    co Mình rất th*ch sản phẩm n*y nhỏ nhắn dễ đem theo rất tiện dụng v* dễ dùng
    Tổng đ*i 4302752621

  4. #504
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    Watch FXOpen's July 18 - 22 Weekly Digest Video

    In this video, FXOpen UK COO Gary Thomson sums up the weeks happenings and discusses the most significant news reports.

    • British pound begins to rise, but still faces challenges
    • EUR/USD starts recovery while USD/CHF dips below support
    • What will make oil prices skyrocket?
    • Big Tech stock languishes, whilst UK inflation rampages


    Watch our short and informative video, and stay updated with FXOpen.



    FXOpen YouTube

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    GBP/USD Faces Resistance And GBP/JPY Is Sliding


    GBP/USD started a recovery wave above the 1.1950 resistance zone. GBP/JPY declined and remains at a risk of more losses below 163.00.

    Important Takeaways for GBP/USD and GBP/JPY

    • The British Pound started a recovery wave above the 1.1950 resistance against the US Dollar.
    • There is a major bullish trend line forming with support near 1.1960 on the hourly chart of GBP/USD.
    • GBP/JPY declined steadily after it failed to clear the 166.20 resistance zone.
    • There was a break below a key bullish trend line with support near 165.60 on the hourly chart.


    GBP/USD Technical Analysis

    This past week, the British Pound found support near the 1.1750 zone against the US Dollar. The GBP/USD pair started a recovery wave and was able to settle above the 1.1850 zone.

    There was a steady increase above the 1.1900 zone and the 50 hourly simple moving average. The pair even traded above the 1.2000 resistance zone. However, the bears were active near the 1.2050 and 1.2060 levels.

    GBP/USD Hourly Chart


    A high was formed near 1.2063 on FXOpen and the pair is now correcting lower. There was a move below the 1.2000 support zone. It even broke the 50% Fib retracement level of the upward move from the 1.1916 swing low to 1.2063 high.

    An immediate support is near the 1.1975 and the 50 hourly simple moving average. The next major support is near the 1.1960 level. There is also a major bullish trend line forming with support near 1.1960 on the hourly chart of GBP/USD.

    If there is a break below the 1.1960 support, the pair could test the 1.1920 support. Any more losses might send GBP/USD towards 1.1850. On the upside, the pair is facing resistance near the 1.2000 level and the 1.2020.

    An upside break above 1.2020 could set the pace for a move towards the 1.2060 resistance zone. The next major resistance sits near the 1.2120 level.

    Read Full on FXOpen Company Blog...

  6. #506
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    Tesla stock has volatile week despite Bitcoin unicorn



    Tesla has been known for as long as it has been in existence as a disruptor of its sector.

    Its founder, Elon Musk, is a maverick and a free thinker and has risen to prominence as one of the world's richest men via his methodology of disregarding the well-trodden path and finding ways to reinvent it.

    Thus, Elon Musk's influential interest in cryptocurrency has been a well-covered subject over the past year and a half, and his own advocacy of cryptocurrencies ranging from Bitcoin to oddball meme currencies such as Dogecoin has been high profile.

    It is fair to say that Elon Musk's interest in cryptocurrency is not just an interest, it positions him as an influencer.

    In May 2021, he was responsible for crashing the value of five popular cryptocurrencies by over $700 million, and then partially responsible for causing them to rise to a higher value than before his infamous Twitter post-orientated tumble.

    It is therefore fitting that Elon Musk would bring cryptocurrency investment into his commercial portfolio, which he did with Tesla.

    By the end of last year, Tesla could lay claim to being the most influential disrupting force in the automotive industry, as well as the only large cap publicly listed corporation which is a Bitcoin whale.

    A Bitcoin whale is an entity or person which holds enough Bitcoin to be able to influence the market.

    Now, as Tesla remains a major market force and all of the traditional car manufacturers have been rallying to make electric vehicles after over 100 years of not even considering moving away from internal combustion, and as a recent SEC filing showed that the company has made $64 million in gains from bitcoin sales, its own stock is volatile to say the least.

    This week, prices are down to $804 per share after a rally last week.

    Whether investors in high market cap publicly listed companies are still relatively conservative and don't favor risky and avantgarde strategies such as the Bitcoin trading activities of Tesla is perhaps a matter for discussion, but despite these crypto-fueled gains being made public information, the value of Tesla stock has been declining during the course of this week.

    On Friday last week, Tesla stock was trading at $840 per share, so today's $804 is a definitive downturn.

    Elon Musk, who is openly pro-free market, and has objected to government lockdowns across Europe and America has this week stated that Teslas factories in Germany and Texas are losing billions of dollars as supply-chain snags and battery-cell manufacturing hurdles limit production caused by the draconian lockdowns in 2020 and 2021.

    Clearly, regardless of how well capitalized and how much of a market icon Tesla is, foresight, innovation and disruption still equals volatility.

    FXOpen Blog

  7. #507
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    BTCUSD and XRPUSD Technical Analysis 26th JULY 2022


    BTCUSD: Bearish Engulfing Pattern Below $24262

    Bitcoin was unable to sustain its bullish momentum and after touching a high of 24195 on 20th July started to decline against the US dollar dropping below the $21500 handle in the European trading session today.

    We can see that after this decline the prices have entered into a consolidation zone above the $21000 handle.

    The drop in the prices of bitcoin comes just before the upcoming US Federal Reserve FOMC meeting, which is expected to raise the interest rates by 75 basis points.

    We can clearly see a bearish engulfing pattern below the $24262 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

    Bitcoin touched an intraday high of 22248 in the Asian trading session and an intraday low of 20928 in the European trading session today.

    Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

    The relative strength index is at 29 indicating a weaker demand for bitcoin at the current market level and the continuation of the selling pressure in the markets.

    Bitcoin is now moving below its 100 hourly simple moving average and 200 hourly simple moving averages.

    Most of the major technical indicators are giving a strong sell signal, which means that in the immediate short term, we are expecting targets of 20500 and 20000.

    The average true range is indicating less market volatility with a bearish momentum.

    • Bitcoin: bearish reversal seen below $24262
    • STOCHRSI is indicating an overbought level
    • The price is now trading just above its pivot level of $21077
    • All of the moving averages are giving a strong sell market signal


    Bitcoin: Bearish Reversal Seen Below $24262


    The price of bitcoin continues to decline below the $22000 handle, and we are now testing the important support level of $20000 in the European trading session.

    The global sentiments have changed in the wake of the US Fed interest rate decision and its impact on the cryptocurrency markets worldwide.

    We can see the formation of a falling trend channel, and now we are facing the immediate targets of $20500 and $20100.

    Bitcoin was unable to clear its resistance zone located at $25000, and we can see a progression of the bearish bias in the markets.

    The ultimate oscillator is indicating a neutral market, and the prices can also stage an upwards correction from these levels if the bearish trend gets exhausted.

    The immediate short-term outlook for bitcoin is bearish; the medium-term outlook has turned neutral; and the long-term outlook remains neutral under present market conditions.

    Bitcoins support zone is located at $20000, and the prices continue to remain above these levels for any potential bullish reversal in the markets.

    The price of BTCUSD is now facing its classic support level of 20902, and Fibonacci resistance levels of 21034, after which the path towards 20000 will get cleared.

    In the last 24hrs, BTCUSD has declined by 4.19% by 922 and has a 24hr trading volume of USD 37.899 billion. We can see an increase of 33.97% in the trading volume as compared to yesterday, which is due to the selling seen by the short-term investors.

    The Week Ahead

    The price of bitcoin is moving in a mildly bearish momentum, and the immediate targets are $20500 and $20000

    The daily RSI is printing at 44 which means that the medium range demand continues to remain weak.

    The trendline formation is seen from the $24000 level towards the $21000, indicating that if this bearish trend line gets exhausted, we may see an upwards correction in the prices.

    Bitcoin prices may continue to remain in a range-bound movement between the $20000 and $22000 levels this week.

    The price of BTCUSD will need to remain above the important support levels of $20000 this week.

    The weekly outlook is projected at $21500 with a consolidation zone of $20500.

    Technical Indicators:

    The average directional change (14 days): at 43.57 indicating a NEUTRAL

    The rate of price change: at -3.78 indicating a SELL

    The relative strength index (14): at 29.67 indicating a SELL

    The commodity channel index (14 days): at -59.39 indicating a SELL

    Read Full on FXOpen Company Blog...

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    EUR/USD and EUR/JPY Attempt Recovery Wave


    EUR/USD started a fresh decline and traded below 1.0150. EUR/JPY is attempting a recovery wave and might rise if it clears 139.50.

    Important Takeaways for EUR/USD and EUR/JPY

    • The Euro started a major decline from the 1.0250 and 1.0280 resistance levels.
    • There is a short-term contracting triangle forming with resistance near 1.0145 on the hourly chart.
    • EUR/JPY also started a major decline below the 140.00 and 139.50 support levels.
    • There is a key bearish trend line forming with resistance near 139.20 on the hourly chart.


    EUR/USD Technical Analysis

    The Euro failed to clear the 1.0280 resistance against the US Dollar. The EUR/USD pair started a major decline below the 1.0220 and 1.0200 support levels.

    There was a clear move below the 1.0150 level and the 50 hourly simple moving average. The pair even settled below the 1.0180 level. A low was formed near 1.0107 on FXOpen and the pair is now consolidating losses.

    EUR/USD Hourly Chart


    The pair climbed above the 23.6% Fib retracement level of the downward move from the 1.0250 swing high to 1.0107 low. On the upside, the pair is facing resistance near the 1.0145 level.

    There is also a short-term contracting triangle forming with resistance near 1.0145 on the hourly chart. A clear move above the triangle resistance might send the price towards 1.0165. The next major resistance is near the 1.0180 level.

    It is near the 50% Fib retracement level of the downward move from the 1.0250 swing high to 1.0107 low. If the bulls remain in action, the pair could revisit the 1.0250 resistance zone in the near term.

    On the downside, the pair might find support near the 1.0120 level. The next major support sits near the 1.0100 level. If there is a downside break below the 1.0100 support, the pair might accelerate lower in the coming sessions.

    Read Full on FXOpen Company Blog...

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    ETHUSD and LTCUSD Technical Analysis 28th JULY, 2022


    ETHUSD: Bullish Engulfing Pattern Above $1357

    Ethereum was unable to sustain its bullish momentum and after touching a high of 1661 on 25th July started to decline against the US dollar coming down below the $1400 handle on 26th July.

    We saw that after this decline, the prices started to stabilize above the $1350 handle, and then a pullback action was seen in the markets.

    The prices started a bullish reversal which continues pushing the prices of Ethereum above the $1600 handle in the European trading session today.

    We can clearly see a bullish engulfing pattern above the $1357 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

    ETH is now trading just below its pivot level of 1622 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1629 and Fibonacci resistance level of 1634 after which the path towards 1700 will get cleared.

    The relative strength index is at 62 indicating a strong market and the continuation of the uptrend in the markets.

    We can see the progression of a bullish ascending trendline formation from $1357 to $1690, which indicates that we are heading towards $1700.

    Both the commodity channel index and highs/lows are indicating a neutral market.

    Some of the technical indicators are giving a buy market signal.

    Most of the moving averages are giving a buy signal, and we are now looking at the levels of $1700 to $1850 in the short-term range.

    ETH is now trading above both its 100 hourly simple and exponential moving averages.

    • Ether: a bullish reversal seen above the $1357 mark
    • Short-term range appears to be mildly bullish
    • ETH continues to remain above $1600
    • The average true range is indicating less market volatility


    Ether: Bullish Reversal Seen Above $1357


    ETHUSD is now moving into a mildly bullish channel with the prices trading above the $1600 handle in the European trading session today.

    We have also detected the formation of MA5 and MA10 crossover patterns located at 1630 and 1632 in the hourly time frame indicating that the price is likely to descend below after touching these levels in the short-term range.

    We can see that the prices of Ethereum are slowly preparing for moving into a consolidation channel above the $1600 handle.

    We can also see the formation of a bullish harami pattern in the 2-hour time frame indicating the bullish nature of the markets.

    We can also witness the parabolic SAR bullish reversal in the daily timeframe, so the immediate targets visible now are $1650.

    The key support levels to watch are $1500 and $1584, and the prices of ETHUSD need to remain above these levels for the continuation of the bullish trend.

    ETH has increased by 10.64% with a price change of 155$ in the past 24hrs and has a trading volume of 25.107 billion USD.

    We can see an increase of 43.29% in the total trading volume in the last 24 hrs which is due to the buying seen at lower levels.

    The Week Ahead

    We can see that ETH is now making attempts to clear the resistance zone located at $1650, and with the continued bullish tendency, we are now heading towards the $1700 level.

    The price of Ethereum is preparing to enter into a consolidation phase above the $1600 levels and we can see some range-bounded movements between the $1500 and $1700 levels this week.

    The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.

    The prices of ETHUSD will need to remain above the important support levels of $1500 this week.

    The weekly outlook is projected at $1750 with a consolidation zone of $1600.

    Technical Indicators:

    The relative strength index (14): at 62.09 indicating a BUY

    The moving averages convergence divergence (12,26): at 41.18 indicating a BUY

    The rate of price change: at 1.92 indicating a BUY

    Bull/Bear power(13): at 23.28 indicating a BUY

    Read Full on FXOpen Company Blog...

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    in ro ham eslah kon:
    AUD/USD and NZD/USD Eye Additional Gains


    AUD/USD is gaining pace above the 0.6950 resistance. NZD/USD is also eyeing a key upside break above the 0.6300 resistance.

    Important Takeaways for AUD/USD and NZD/USD

    • The Aussie Dollar started a fresh increase above the 0.6880 resistance zone against the US Dollar.
    • There is a key bullish trend line forming with support near 0.6955 on the hourly chart of AUD/USD.
    • NZD/USD also started a major increase from the 0.6200 support zone.
    • There was a break above a major bearish trend line with resistance near 0.6240 on the hourly chart of NZD/USD.


    AUD/USD Technical Analysis

    The Aussie Dollar formed a base above the 0.6820 and 0.6850 levels against the US Dollar. The AUD/USD pair started a steady increase after it cleared the 0.6900 resistance zone.

    There was a clear move above the 0.6950 resistance and the 50 hourly simple moving average. The pair even broke the 0.7000 barrier and traded as high as 0.7014 on FXOpen. Recently, there was a minor downside correction below the 0.7000 level.

    AUD/USD Hourly Chart


    The pair dipped below the 38.2% Fib retracement level of the upward move from the 0.6912 swing low to 0.7014 high. However, the pair stayed above the 0.6960 level and the 50 hourly simple moving average.

    The 50% Fib retracement level of the upward move from the 0.6912 swing low to 0.7014 high also acted as a support. The pair is now rising and trading near 0.7000.

    On the upside, the AUD/USD pair is facing resistance near the 0.7000 level. The next major resistance is near the 0.7020 level. A close above the 0.7020 level could start a steady increase in the near term. The next major resistance could be 0.7080.

    On the downside, an initial support is near the 0.6970 level. The next support could be the 0.6950 level. There is also a key bullish trend line forming with support near 0.6955 on the hourly chart of AUD/USD. If there is a downside break below the 0.6950 support, the pair could extend its decline towards the 0.6880 level.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog

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