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Resolve

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  1. AUD/USD and NZD/USD Could Eye More Upsides AUD/USD started a fresh increase above the 0.7260 resistance zone. NZD/USD also climbed higher and it might continue to rise towards the 0.7150 level. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a decent increase above the 0.7260 barrier against the US Dollar. There was a break above a major bearish trend line with resistance near 0.7260 on the hourly chart of AUD/USD. NZD/USD also gained pace after it broke the 0.7020 resistance. There was a break above a key bearish trend line with resistance near 0.7020 on the hourly chart of NZD/USD. AUD/USD Technical Analysis After a steady decline, the Aussie Dollar found support near the 0.7225 zone against the US Dollar. The AUD/USD pair formed a base above the 0.7220 level and recently started a fresh increase. The pair broke the 0.7250 and 0.7260 resistance levels. There was also a break above a major bearish trend line with resistance near 0.7260 on the hourly chart of AUD/USD. The pair even cleared the 0.7300 level and the 50 hourly simple moving average. AUD/USD Hourly Chart A high was formed near 0.7316 on FXOpen and the pair is now consolidating gains. It is trading near the 23.6% Fib retracement level of the recent increase from the 0.7223 swing low to 0.7316 high. An initial support on the downside is near the 0.7285 level. The next major support is near the 0.7370 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the recent increase from the 0.7223 swing low to 0.7316 high. If there is a downside break below the 0.7370 support, the pair could extend its decline towards the 0.7325 level. An immediate resistance is near the 0.7315 level. The next major resistance is near the 0.7320 level. A close above the 0.7320 level could start a steady increase in the near term. The next major resistance could be 0.7365. Read Full on FXOpen Company Blog...
  2. Standings ForexCup Trading Championship 2021 Our championship has been going on for over eight months now, and we are very grateful for your interest and support. We remind you that you can join ForexCup Trading Championship 2021 until the very last day of the championship and get a chance to become a top trader and earn our prizes! Join the ForexCup Trading Championship 2021 ForexCup News
  3. Prospective PAMM Managers In this PAMM review, FXOpen presents for your consideration yet another list of the most promising and profitable investment accounts. As of September 2021, FXOpen has 150 active PAMM-accounts, with $2'925’824 of subscriber funds invested. And if you would like to try your hand at managing a PAMM-account, we are glad to remind you that FXOpen is hosting its Money Managers contest! Registration closes on October 3, 2021. Test your managing skills and win a monetary prize out of the $10,000 prize fund! FXOpen PAMM Risk Warning: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgment as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.
  4. EUR/USD Faces Hurdles, USD/CHF Could Extend Decline EUR/USD started a fresh decline below the 1.1800 support zone. USD/CHF is declining and it might continue lower below the 0.9220 zone. Important Takeaways for EUR/USD and USD/CHF The Euro started a fresh decline below the 1.1800 and 1.1750 support levels against the US Dollar. There is a major bearish trend line forming with resistance near 1.1735 on the hourly chart of EUR/USD. USD/CHF failed to clear 0.9335 and started a fresh downward move. There was a break below a key bullish trend line with support near 0.9290 on the hourly chart. EUR/USD Technical Analysis The Euro struggled to continue higher above the 1.1840 resistance zone against the US Dollar. As a result, the EUR/USD pair started a fresh decline below the 1.1800 support zone. The pair traded below the 1.1750 support level and settled above the 50 hourly simple moving average. There was also a break below the 1.1720 level. A low was formed near 1.1700 on FXOpen before the pair started an upside correction. The pair recovered above the 1.1720 level, but it failed near 1.1750. A high is formed near 1.1748 and the pair is now moving lower. There was a break below the 50% Fib retracement level of the upward move from the 1.1701 swing low to 1.1748 high. It is now consolidating near the 1.1720 level and the 50 hourly simple moving average. An immediate support is near the 1.1718 level. It is near the 61.8% Fib retracement level of the upward move from the 1.1701 swing low to 1.1748 high. The next major support is near the 1.1700 level. A downside break below the 1.1700 support could start another decline. On the upside, an initial resistance is near the 1.1735 level. There is also a major bearish trend line forming with resistance near 1.1735 on the hourly chart of EUR/USD. The main resistance is near 1.1750. If there is an upside break above the 1.1750 resistance zone, the price could rise steadily towards the 1.1800 resistance zone. Read Full on FXOpen Company Blog...
  5. Natural Gas Prices Soar To New Heights. What Is Driving the Climb? One of the sharpest rallies in 2021 is taking place in the commodities market. Natural gas, seen below as XNGUSD, has doubled in price since late May, and the bullish run may continue into the winter season as it is about to start in the Northern Hemisphere. Before discussing some of the reasons why natural gas has entered an uptrend, let’s look at the technical state of things. Below is the daily timeframe of the XNGUSD pair which tracks the price of natural gas in US dollars. The bullish run started in 2020 as the market made a double bottom within the $1.50 area. By the end of 2020, the price action stalled, and consolidation began. A contracting triangle finally acted as a continuation pattern, and the bullish breakout that followed led to the sharp rally mentioned above. Why Is Natural Gas Rallying? Different countries charge different prices for natural gas, but now, the prices have one thing in common: they are rising all over the world. In Europe, for example, the natural gas price jumped to record levels, driven by factors such as Russian supply bottlenecks or lack of wind in the UK. The trend is likely to continue because natural gas is used for electricity generation, plus winter is coming soon. Additionally, Russia announced recently that it wouldn’t increase gas supply to Europe, so the pressure on higher prices remains. Let’s not forget that rising demand from Asian economies drives the price higher as well. As the post-COVID-19 economic recovery continues, the higher demand will result in more bottlenecks and shortages. In the UK, the situation is dire, too. The country uses 40% natural gas to meet its energy demands. This week, the UK natural gas wholesale price settled at the highest-ever closing level. If we transform the price of natural gas expressed in mBtu (i.e., million British thermal units) into oil equivalent, we get $150 per barrel of oil. All in all, while the rally in the natural gas price is nothing short of impressive, we may see more of the same in the months to come. As winter reaches the Northern Hemisphere, the pressure on natural gas prices remains elevated. FXOpen Blog
  6. US Dollar Flexing Muscles Ahead Of The Fed’s Decision The US dollar ended the previous week with a bang, rising to new heights and outpacing its main peers. The new trading week saw a continuation of this march of triumph. Meanwhile, investors are preparing for what may prove to be the Fed meeting of the year. On Wednesday, the Federal Reserve is expected to announce the tapering of its asset purchases, a move already communicated to markets via its forward guidance model. Yet, even with this information in mind, it is quite hard to predict the market’s reaction. One of the things that bring uncertainty is the dot plot. Fed members are required to project the federal funds rate for the years ahead. The sum of their forecast is displayed on a chart in the form of dots. The number of rate hikes and, more importantly, their timing is what affects the way the financial markets move. Should the Fed members reveal an unexpected hawkish outlook, the dollar may grow even stronger. Risk-Off Sentiment Dominates Ahead of the Fed’s meeting and outcome announcement, a risk-off sentiment seems to be dominating the markets. Evergrande, a Chinese property developer, is on the verge of collapsing, and the government has no intention to bail the company out. The big question for financial market participants is: Will the collapse of Evergrande have an impact on the international financial system, or will it end up being a local event? In any case, part of the US dollar’s strength rides on the back of lower equities in the States. Moreover, futures markets are showing renewed weakness at the start of the trading week, so the dollar's growth prospects are good. All in all, this trading week will be packed with political events (i.e., Canadian and German federal elections) and central banks’ decisions (i.e., Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, etc.). In other words, volatility is guaranteed to reach new record levels. FXOpen Blog
  7. Forex trading is a type of business that can start giving us more profits from the markets.
  8. We will need to use a trading system that is easy for us to use.
  9. We should try to make use of the Demo trading accounts to learn it.
  10. Forex trading will become more profitable for us when we have the trading skills.
  11. Forex markets is a very big and also a international markets.
  12. We will need to make more Efforts and try to understand it.
  13. Forex trading will become profitable for us in the long run.
  14. Wish you try to control the emotions when we are doing our trading the foreign exchange market
  15. We should try to understand the technical analysis so that the income can start coming.
  16. We need to do our trading with the help of the Trends.
  17. Foreign exchange the type of market which requires more patience from the new traders.
  18. If we want to learn trading we can make use of the demo trading accounts
  19. When our income will increase we can get more profits and become good traders
  20. You should try to minimise the amount of losses that were getting into the foreign exchange market
  21. Foreign exchange market is not easy to understand so we should try to make more efforts
  22. To become a successful foreign exchange traded it will take more time and efforts
  23. Foreign exchange market is a type of market that is international and also reputed.
  24. We will need to use a lower amount of trading leverage settings.
  25. If we want to learn trading from the foreign exchange market we should make more efforts and try to earn income.

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