Daily analysis by FXOpen

Farabot

New Member
BTCUSD and XRPUSD Technical Analysis – 08th NOV 2022

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BTCUSD: Shooting Star Pattern Below $21470

Bitcoin was unable to sustain its bullish momentum and after touching a high of 21470 on 05th Nov, the price started to correct lower against the US dollar and is now trading below the $20000 handle in the European trading session.

We can see that the price is declining due to heavy selling pressure seen across the global crypto markets, and the price of bitcoin is expected to break below the $19000 handle this week.

We have seen a bearish opening of the markets this week.

We can see the formation of bearish engulfing lines in the 1-hour time frame.

The price of bitcoin is below the pivot point and camarilla S3 support level, indicating the bearish trends present in the market.

We can clearly see a shooting star pattern below the $21470 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 20666 and an intraday low of 19413 in the Asian 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 27 indicating a VERY WEAK demand for bitcoin, and the continuation of selling pressure in the markets.

Bitcoin is now moving below its 100 hourly exponential moving average and above its 200 hourly exponential moving average.

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 19000 and 18500.

The average true range is indicating HIGH market volatility with a strong bearish momentum.
  • Bitcoin: bearish reversal seen below $21470
  • The STOCHRSI range is indicating an oversold level
  • The price is now trading below its pivot level of $19818
  • Most of the moving averages are giving a STRONG SELL market signal
Bitcoin: Bearish Reversal Seen Below $21470

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We can now see that the price of bitcoin failed to clear the $22000 handle and is now moving towards the $19000 level.

The MACD has crossed down its moving average in the daily time frame indicating a bearish trend.

The parabolic SAR indicator is giving a bearish reversal signal in the daily time frame.

We can see the formation of a bearish price crossover pattern with adaptive moving average AMA20 and AMA50 in the daily time frame.

We have also seen a black evening star in the weekly time frame.

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

Bitcoin’s support zone is located at $19475 which is a 38.2% retracement from a 4 week low, and the price needs 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 19646 and Fibonacci resistance level of 19700 after which the path towards 19000 will get cleared.

In the last 24hrs, BTCUSD has decreased by 4.68% by 970$ and has a 24hr trading volume of USD 66.898 billion. We can see an increase of 51.65% in the trading volume compared to yesterday, which is due to the heavy selling pressure seen in the global markets.

The Week Ahead

The price of Bitcoin is moving in a strongly bearish zone below the $20000 level. Further downsides are projected at $19000 and $18500 as the immediate targets.

Now we are aiming for $19385which is an 18-day moving average.

The daily RSI is printing at 45 which indicates a neutral demand for bitcoin and a shift towards the consolidation phase in the markets.

The price of BTCUSD has already crossed below $19855 which is a 50% retracement from a 4-week high/low.

The weekly outlook is projected at $19000 with a consolidation zone of $19250.

Technical Indicators:

The moving averages convergence divergence MACD (12, 26): is at -303.10 indicating a SELL

The commodity channel index CCI (14): is at -107.49 indicating a SELL

The rate of price change ROC: is at -4.53 indicating a SELL

The bull/bear power (13): is at -775.38 indicating a SELL

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Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
 

Farabot

New Member
EUR/USD and EUR/JPY Aim More Upsides

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EUR/USD is gaining pace above the 1.0000 resistance. EUR/JPY is also rising and might climb further higher above the 147.00 zone.

Important Takeaways for EUR/USD and EUR/JPY
  • The Euro started a fresh increase and was able to clear the 0.9950 resistance zone.
  • There is a key bullish trend line forming with support near 1.0040 on the hourly chart.
  • EUR/JPY started a strong increase and settled well above the 146.00 zone.
  • There is a major bearish trend line forming with resistance near 146.65 on the hourly chart.
EUR/USD Technical Analysis

The Euro formed a base above the 0.9740 zone and started recovery wave against the US Dollar. The EUR/USD pair was able to clear the 0.9820 and 0.9900 resistance levels.

There was a clear move above the 0.9950 level and the 50 hourly simple moving average. The pair even climbed above 1.0000 and traded as high as 1.0096 on FXOpen. It is now consolidating gains near the 1.0080 zone.

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EUR/USD Hourly Chart

On the downside, the pair might find support near the 1.0050 level. Besides, there is a key bullish trend line forming with support near 1.0040 on the hourly chart. The trend line is near the 50% Fib retracement level of the upward move from the 0.9972 swing low to 1.0096 high.

The next major support sits near the 1.0020 level and the 50 hourly simple moving average, below which the pair could even test the 76.4% Fib retracement level of the upward move from the 0.9972 swing low to 1.0096 high.

If there is a downside break below the 1.0000 support, the pair might accelerate lower in the coming sessions. In the stated case, it could even test 0.9920.

On the upside, an immediate resistance is near the 1.0095 level. The next major resistance is near the 1.0125 level. The main resistance is near the 1.0150 level. A clear move above the 1.0150 resistance might send the price towards 1.1200. If the bulls remain in action, the pair could revisit the 1.1320 resistance zone in the near term.

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Farabot

New Member
ETHUSD and LTCUSD Technical Analysis – 10th NOV, 2022

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ETHUSD: Hammer Pattern Above $1072

Ethereum was unable to sustain its bullish momentum, and after touching a high of 1654 on 05th Nov, the price started to decline against the US dollar touching a low of 1079 on 10th Nov, 2022.

Today we can see some upwards correction in the price of Ethereum which has touched $1200 handle in the European trading session.

We have seen a bullish opening of the markets this week.

We can clearly see a hammer pattern above the $1072 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 1203 and moving into a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1230 and Fibonacci resistance level of 1246 after which the path towards 1300 will get cleared.

The relative strength index is at 47 indicating a neutral market and a shift towards the correction and consolidation phase in the markets.

We can see that the price is back over the pivot point indicating a bullish scenario in the daily time frame.

The STOCHRSI is indicating an overbought market, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a BUY market signal.

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

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.
  • Ether: bullish reversal seen above the $1072 mark
  • Short-term range appears to be mildly bullish
  • ETH continues to remain above the $1100 level
  • The average true range is indicating LESS market volatility
Ether: Bullish Reversal Seen Above $1072

ETHUSD-1011222.png


ETHUSD is now moving into a mildly bullish channel with the price trading above the $1150 handle in the European trading session today.

ETH touched an intraday low of 1127 in the Asian trading session and an intraday high of 1217 in the European trading session today.

We can see a bullish trend reversal signal with moving average MA50 in the 15-minute time frame.

Some of the technical indicators still continue to give bearish signals including the rate of price change.

The price of Ethereum is marching towards a nullish zone against the US dollar and bitcoin. ETHUSD could continue to move higher back towards the $1400 level.

The daily RSI is printing at 36 indicating a very weak demand for Ether in the long-term range.

The key support levels to watch are $1077 which is a 1-month low, and 1184 which is a pivot point.

ETH has increased by 1.79% with a price change of 20.91$ in the past 24hrs and has a trading volume of 36.854 billion USD.

We can see a decrease of 13.76% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

The price of ETH continues to remain in a bullish zone against the US dollar and bitcoin. ETHUSD is expected to move higher towards the $1300 and $1400 levels this week.

On the upside, we are now looking at the immediate targets of 1303 which is a 38.2% retracement from a 4-week low, and 1372 which is a 50% retracement from 4-week high/low.

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 price of ETHUSD will need to remain above the important support levels of $1188 which is the last support point.

The weekly outlook is projected at $1450 with a consolidation zone of $1350.

Technical Indicators:

The average directional index ADX (14): is at 37.20 indicating a BUY

The rate of price change: is at 3.057 indicating a BUY

The bull/bear power (13): is at 37.90 indicating a BUY

High/lows (14): is at 25.17 indicating a BUY

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Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
 

Farabot

New Member
AUD/USD and NZD/USD Eye Additional Gains
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AUD/USD is moving higher and showing positive signs above 0.6550. NZD/USD is also rising and might aim more upsides above 0.6050.

Important Takeaways for AUD/USD and NZD/USD
  • The Aussie Dollar started a decent increase above the 0.6450 and 0.6500 levels against the US Dollar.
  • There was a break above a key bearish trend line with resistance near 0.6455 on the hourly chart of AUD/USD.
  • NZD/USD is showing a lot of bullish signs above the 0.5950 support zone.
  • There was a break above a major bearish trend line with resistance near 0.5880 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis

The Aussie Dollar formed a base above the 0.6380 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace above the 0.6450 level to move into a positive zone.

There was a clear move above the 0.6500 level and the 50 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near 0.6455 on the hourly chart of AUD/USD.

AUDUSD-11112022.png


AUD/USD Hourly Chart

The pair even climbed above the 0.6550 level and traded as high as 0.6631. It is now correcting gains and trading below the 0.6610 level. On the downside, an initial support is near the 0.6375 level. It is near the 23.6% Fib retracement level of the upward move from the 0.6386 swing low to 0.6631 high.

The next support could be the 0.6550 level. If there is a downside break below the 0.6550 support, the pair could extend its decline towards the 0.6500 level. It is near the 50% Fib retracement level of the upward move from the 0.6386 swing low to 0.6631 high.

On the upside, the AUD/USD pair is facing resistance near the 0.6640 level. The next major resistance is near the 0.6660 level. A close above the 0.6660 level could start a steady increase in the near term. The next major resistance could be 0.6750.

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Farabot

New Member
GBP/USD Climbs Higher, EUR/GBP Eyes Upside Break

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GBP/USD started a recovery wave and climbed above the 1.1750 resistance. EUR/GBP is trading above the 0.8700 support and might eye a fresh increase.

Important Takeaways for GBP/USD and EUR/GBP
  • The British Pound started a fresh increase after it broke the 1.1550 resistance against the US Dollar.
  • There is a key bullish trend line forming with support near 1.1780 on the hourly chart of GBP/USD.
  • EUR/GBP started a decent increase and remained well bid above the 0.8700 support.
  • There is a major bearish trend line forming with resistance near 0.8765 on the hourly chart.
GBP/USD Technical Analysis

The British Pound found support near the 1.1350 zone against the US Dollar. The GBP/USD pair started a recovery wave and was able to clear the 1.1550 resistance zone.

There was a decent increase above the 1.1650 level and the 50 hourly simple moving average. The pair even climbed above the 1.1750 level. A high was formed near 1.1852 on FXOpen and the pair is now consolidating gains.

GBPUSD-14112022.png


GBP/USD Hourly Chart

On the downside, an initial support is near the 1.1780 level. There is also a key bullish trend line forming with support near 1.1780 on the hourly chart of GBP/USD, below which it could test the 23.6% Fib retracement level of the upward move from the 1.1334 swing low to 1.1852 high.

The next major support is near the 1.1650 level and the 50 hourly simple moving average. Any more losses could lead the pair towards the 1.1600 support zone or the 50% Fib retracement level of the upward move from the 1.1334 swing low to 1.1852 high.

On the upside, an initial resistance is near the 1.1820 level. The next main resistance is near the 1.1850 zone. A clear upside break above the 1.1820 and 1.1850 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2000 level.

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Farabot

New Member
#MarketNews

G20 LEADERS SEEK PEACE, DOLLAR FINDS SUPPORT LINE

G20 Leaders Summit in Indonesia is taking place these days:
-> Biden and Xi signal desire to improve relations despite Taiwan tensions;
-> Xi Jinping and Macron at the G20 called for the resumption of negotiations on Ukraine. G20 members will adopt a communiqué condemning the fighting in Ukraine;
-> Zelensky, speaking via video, proposed a formula for peace.

It is not uncommon that financial markets are weakly sensitive to such geopolitical summits. Note that in the next 2 days new values of PPI (change in prices for finished goods and services), as well as Retail Sales in the USA, will be published. This data is highly likely to cause bursts of volatility in the markets.

Note that the futures on the dollar index on the daily chart has reached the level (1) of support from the parallel channel — it is possible that we will see a rebound against the background of the upcoming news (accordingly, the strengthening of the dollar index will lead to a decrease in the value of other currencies against USD).

To take advantage of trends in the financial markets, consider enlisting the services of a reliable broker like FXOpen.

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Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

Source: FXOpen Telegram channel

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Farabot

New Member
EUR/USD Rallies While USD/JPY Takes A Major Hit

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EUR/USD started a strong increase above the 1.0200 resistance zone. USD/JPY started a major decline below the 143.50 support zone.

Important Takeaways for EUR/USD and USD/JPY
  • The Euro formed a base and started a strong upward move above the 1.0200 zone.
  • There is a key bullish trend line forming with support near 1.0290 on the hourly chart of EUR/USD.
  • USD/JPY declined sharply after it traded below the 145.60 support zone.
  • There is a major bearish trend line forming with resistance near 143.55 on the hourly chart.
EUR/USD Technical Analysis

This past week, the Euro found support near the 0.9950 zone against the US Dollar. The EUR/USD pair started a steady upward move above the 1.0100 and 1.0200 resistance levels.

There was a steady increase above the 1.0350 resistance zone and the 50 hourly simple moving average. The pair even climbed above the 1.0400 resistance zone. A high was formed near 1.0479 on FXOpen and the pair is now consolidating gains.

EURUSD-16112022.png


EUR/USD Hourly Chart

An immediate resistance on the upside is near the 1.0380 level. It is near the 50% Fib retracement level of the recent decline from the 1.0479 swing high to 1.0277 low.

The next major resistance is near the 1.0430 level. It is close to the 76.4% Fib retracement level of the recent decline from the 1.0479 swing high to 1.0277 low. An upside break above 1.0430 could set the pace for another increase.

In the stated case, the pair might revisit 1.0480. Any more gains might send the pair towards 1.0550. An initial support on the downside is near the 1.0340 level.

The first major support is near the 1.0300 level. There is also a major bearish trend line forming with resistance near 143.55 on the hourly chart. The main support sits near the 1.0250 zone, below which the pair could start a major decline.

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Farabot

New Member
ETHUSD and LTCUSD Technical Analysis – 17th NOV, 2022

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ETHUSD: Bearish Engulfing Pattern Below $1349

Ethereum was unable to sustain its bullish momentum and after touching a high of 1349 on 10th Nov, the prices started to decline against the US dollar touching a low of 1171 on 14th Nov.

After this decline, we can see some upwards correction in the levels of Ethereum above the $1200 handle.

We have seen a bearish opening of the markets this week.

We can clearly see a bearish engulfing pattern below the $1349 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 below its pivot levels of 1204 and moving into a mildly bearish channel. The price of ETHUSD is now testing its classic support level of 1188 and Fibonacci resistance level of 1198 after which the path towards 1100 will get cleared.

The relative strength index is at 40 indicating a WEAK demand for Ether and the continuation of the selling pressure in the markets.

The prices are ranging near the horizontal resistance in the weekly time frame, indicating a bearish trend.

Both the STOCHRSI and Williams percent range are indicating oversold levels.

All of the technical indicators are giving a STRONG SELL market signal.

Most of the moving averages are giving a STRONG SELL signal and we are now looking at the levels of $1150 to $1100 in the short-term range.

ETH is now trading below both the 100 & 200 hourly simple and exponential moving averages.
  • Ether: bearish reversal seen below the $1349 mark
  • Short-term range appears to be mildly bearish
  • ETH continues to remain below the $1300 level
  • The average true range is indicating LESS market volatility
Ether: Bearish Reversal Seen Below $1349

ETHUSD-17112022.png


ETHUSD is now moving in a mildly bearish channel with the prices trading below the $1300 handle in the European trading session today.

ETH continues to remain under pressure this month and fresh downsides are expected below the $1100 handle.

ETHUSD touched an intraday high of 1227 and an intraday low of 1193 in the Asian trading session today.

We can see a bullish price crossover pattern with moving averages MA50 and MA100 in the 1-hour time frame.

We can also see the formation of a black evening star pattern in the 15-minute time frame.

The daily RSI is printing at 38 indicating a very weak demand for Ether in the long-term range.

The key support level to watch is $1186 which is the last resistance level, and $1195 which is a 14-3 day raw stochastic at 20%

ETH has decreased by 3.15% with a price change of 38.81$ in the past 24hrs and has a trading volume of 11.524 billion USD.

We can see an increase of 1.46% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH price continues to remain in a bearish zone against the US dollar and bitcoin. ETHUSD is expected to move lower towards the $1100 and $11150 levels this week.

We can see the formation of a major bearish trend line in place from $1349 towards $1119 levels.

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 prices of ETHUSD will need to remain above the important support levels of $1094 which is the 3rd support pivot point.

The weekly outlook is projected at $1150 with a consolidation zone of $1100.

Technical Indicators:

The relative strength index (14): is at 37.20 indicating a SELL

The rate of price change: is at -1.23 indicating a SELL

Bull/Bear power (13): is at -14.17 indicating a SELL

High/lows (14): is at -7.94 indicating a SELL

Read more...

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
 

Farabot

New Member
Gold Price Could Correct Lower, Crude Oil Price Breaks Key Support

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Gold price climbed higher and traded above the $1,750 resistance. Crude oil price declined below the $86.00 and $83.80 support levels.

Important Takeaways for Gold and Oil
  • Gold price found support near the $1,700 level and started a fresh increase against the US Dollar.
  • There was a break below a key bullish trend line with support near $1,772 on the hourly chart of gold.
  • Crude oil price gained bearish momentum below the $86.00 support zone.
  • There is a major bearish trend line forming with resistance near $84.40 on the hourly chart of XTI/USD.

Gold Price Technical Analysis

Gold price formed a base above the $1,700 level against the US Dollar. The price started a fresh increase and was able to clear the $1,720 and $1,740 resistance levels.

There was a clear move above the $1,750 resistance and the 50 hourly simple moving average. The price even broke the $1,780 level and traded as high as $1,786 on FXOpen. Recently, there was a downside correction below the $1,775 level.

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Gold Price Hourly Chart

The price traded below the 23.6% Fib retracement level of the upward move from the $1,702 swing low to $1,786 high. Besides, there was a break below a key bullish trend line with support near $1,772 on the hourly chart of gold.

An immediate support on the downside is near the $1,755 level. The next major support is near the $1,745 level or the 50% Fib retracement level of the upward move from the $1,702 swing low to $1,786 high, below which there is a risk of a larger decline.

In the stated case, the price could decline sharply towards the $1,722 support zone. On the upside, the first major resistance is near the $1,770 level.

The main resistance is now forming near the $1,785 level, above which it could even test $1,800. A clear upside break above the $1,800 resistance could send the price towards $1,840.

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Farabot

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GBP/USD Corrects Gains, USD/CAD Eyes Fresh Increase

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GBP/USD climbed towards 1.2000 before it faced sellers. USD/CAD is rising and might gain pace above the 1.3450 resistance zone.

Important Takeaways for GBP/USD and USD/CAD
  • The British Pound was able to move above the 1.1800 and 1.1900 resistance levels.
  • There is a key bearish trend line forming with resistance near 1.1900 on the hourly chart of GBP/USD.
  • USD/CAD tested the 1.3220 zone and started a recovery wave.
  • There is a major bullish trend line forming with support at 1.3370 on the hourly chart.
GBP/USD Technical Analysis

After forming a base above the 1.1500, the British Pound started a steady increase against the US Dollar. GBP/USD gained pace for a move above the 1.1650 and 1.1800 resistance levels.

There was a move above the 1.1900 resistance and the 50 hourly simple moving average. The pair even moved above the 1.2000 level and traded as high as 1.2027 on FXOpen. It is now correcting gains and trading below the 1.1950 level.

GBPUSD-21112022.png


GBP/USD Hourly Chart

Recently, there was a move below the 1.1920 and 1.1880 support levels. The pair declined below the 50% Fib retracement level of the upward move from the 1.1764 swing low to 1.1951 high.

It is now trading below the 1.1880 level and the 50 hourly simple moving average. On the downside, an initial support is near the 1.1835 area. It is near the 61.8% Fib retracement level of the upward move from the 1.1764 swing low to 1.1951 high.

The next major support is near the 1.1765 level. If there is a break below 1.1765, the pair could extend its decline. The next key support is near the 1.1650 level. Any more losses might call for a test of the 1.1550 support.

An immediate resistance is near the 1.1880 level. There is also a key bearish trend line forming with resistance near 1.1900 on the hourly chart of GBP/USD.

The next resistance is near the 1.1920 level. The main resistance is near the 1.2000 level. If there is an upside break above the 1.2000 zone, the pair could rise towards 1.2120. The next key resistance could be 1.2200.

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Farabot

New Member
BTCUSD and XRPUSD Technical Analysis – 22nd NOV 2022

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BTCUSD: Shooting Star Pattern Below $17110

Bitcoin was unable to sustain its bullish momentum and after touching a high of 17110 on 15th Nov, the prices started to decline against the US dollar touching a low of 15509 on 21st Nov.

The global demand for bitcoin continues to remain weak, and the prices are expected to break below the $15000 handle soon.

We can see the formation of bearish engulfing lines in the weekly time frame.

The RSI indicator is under 30 in the 4-hour time frame indicating the neutral signal and oversold markets.

We can clearly see a shooting star pattern below the $17110 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 low of 15524 and an intraday high of 15948 in the Asian trading session today.

Both the STOCH and STOCHRSI 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 36 indicating a WEAK demand for bitcoin, and the continuation of the selling pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 200 hourly exponential 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 15500 and 15000.

The average true range is indicating LESS market volatility with a mildly bearish momentum.
  • Bitcoin: bearish reversal seen below $17110
  • The Williams percent range is indicating an overbought levels
  • The price is now trading just above its pivot level of $15718
  • All of the moving averages are giving a STRONG SELL market signal
Bitcoin: Bearish Reversal Seen Below $17110

BTCUSD-22112022.png


We can now see that the price of bitcoin is moving in a mildly bearish momentum and we are expecting more downside waves in this week.

We can see that the support of the channel is broken in the daily time frame indicating bearish trends.

The price of bitcoin is ranging near a new record low of 1 month and 1 year’s time frame.

There is a descending channel forming which is expected to break the current support levels of bitcoin at $15716.

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

Bitcoin’s support zone is located at $15516 which is a 1-month and 1-year’s low point.

The price of BTCUSD is now facing its classic support level of 15583 and Fibonacci support level of 15682 after which the path towards 15500 will get cleared.

In the last 24hrs BTCUSD has decreased by 2.09% by 334$ and has a 24hr trading volume of USD 33.191 billion. We can see an increase of 12.91% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

The price of bitcoin is moving near the 1-year low and has already broken the support levels of $15980 which is the last pivot point.

We can see a bearish trend reversal signal with the moving average MA50 in the 15-minute time frame.

The daily RSI is printing at 31 which indicates a weaker demand for bitcoin and the continuation of the selling pressure in the markets.

The price of BTCUSD will need to remain above the important support level of $14688 which is a 3–10-day MACD oscillator stalls.

The weekly outlook is projected at $15500 with a consolidation zone of $15000.

The Collapse of FTX

The cryptocurrency exchange FTX, valued at $26.5 billion last year, collapsed, which sent ripples through the crypto market and became the primary driving force for Bitcoin which is near the record lows of its 1 year.

FTX faced a liquidity crisis, and in the hours following, experienced a possible hack in which hundreds of millions worth of tokens were stolen.

FTX filed for bankruptcy on Nov. 11, 2022. The future of FTX as a cryptocurrency exchange is in serious jeopardy. As of mid-November 2022, withdrawals are disabled and a notice on the FTX website says the company “strongly advises against depositing.”

Technical Indicators:

The moving averages convergence divergence, MACD (12,26): is at -116.00 indicating a SELL

The commodity channel index, CCI (14): is at -75.95 indicating a SELL

The rate of price change, ROC: is at -0.140 indicating a SELL

Bull/Bear power (13): is at -141.77 indicating a SELL

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Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
 

Farabot

New Member
EUR/USD Eyes Fresh Increase While USD/CHF Corrects Lower

EURUSD-23112022a.jpg


EUR/USD is eyeing a fresh increase above the 1.0320 resistance zone. USD/CHF is correcting gains and might test the 0.9475 support zone.

Important Takeaways for EUR/USD and USD/CHF
  • The Euro started a fresh decline and tested the 1.0220 support against the US Dollar.
  • There is a major bearish trend line forming with resistance near 1.0315 on the hourly chart of EUR/USD.
  • USD/CHF started a fresh increase after it was able to clear the 0.9500 resistance.
  • There was a break below a key bullish trend line with support near 0.9540 on the hourly chart.

EUR/USD Technical Analysis

This week, the Euro started a downside correction from the 1.0400 zone against the US Dollar. The EUR/USD pair declined below the 1.0320 support level to move into a short-term bearish zone.

The pair even tested the 1.0220 support zone. It traded as low as 1.0222 on FXOpen and recently started a decent increase. There was a move above the 1.0275 level and the 50 hourly simple moving average. The pair even cleared the 50% Fib retracement level of the downward move from the 1.0395 swing high to 1.0222 low.

EURUSD-23112022.png


EUR/USD Hourly Chart

An immediate resistance is near the 1.0320 level. There is also a major bearish trend line forming with resistance near 1.0315 on the hourly chart of EUR/USD.

The 61.8% Fib retracement level of the downward move from the 1.0395 swing high to 1.0222 low is also near 1.0329 to act as resistance. The next major resistance is near the 1.0350 level. A clear move above the 1.0350 resistance zone could set the pace for a larger increase towards 1.0400.

The next major resistance is near the 1.0500 zone. On the downside, an immediate support is near the 1.0280 level. The next major support is near the 1.0265 level. A downside break below the 1.0265 support could start another decline.

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Farabot

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AUD/USD and NZD/USD Could Accelerate Higher

AUDUSD-25112022-A.jpg


AUD/USD is moving higher and might accelerate higher above 0.6780. NZD/USD is also rising and might aim more upsides above 0.6300.

Important Takeaways for AUD/USD and NZD/USD
  • The Aussie Dollar started a fresh increase above the 0.6550 and 0.6640 levels against the US Dollar.
  • There is a key bullish trend line forming with support near 0.6715 on the hourly chart of AUD/USD.
  • NZD/USD is gaining bullish pace above the 0.6250 support zone.
  • There is a major bullish trend line forming with support near 0.6245 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar formed a base above the 0.6560 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace above the 0.6590 level to move into a positive zone.

There was a clear move above the 0.6640 level and the 50 hourly simple moving average. The pair even climbed above the 0.6720 level and traded as high as 0.6778. It is now correcting gains and trading below the 0.6770 level.

AUDUSD-25112022.png


AUD/USD Hourly Chart

On the downside, an initial support is near the 0.6735 level. It is near the 23.6% Fib retracement level of the upward move from the 0.6585 swing low to 0.6778 high.

The next support could be the 0.6715 level. There is also a key bullish trend line forming with support near 0.6715 on the hourly chart of AUD/USD. If there is a downside break below the 0.6715 support, the pair could extend its decline towards the 0.6680 level.

It is near the 50% Fib retracement level of the upward move from the 0.6585 swing low to 0.6778 high. On the upside, the AUD/USD pair is facing resistance near the 0.6775 level.

The next major resistance is near the 0.6800 level. A close above the 0.6800 level could start a steady increase in the near term. The next major resistance could be 0.6920.

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Farabot

New Member
GBP/USD and GBP/JPY At Risk of Downside Break

GBPUSD-28112022a.jpg


GBP/USD started a downside correction from the 1.2150 resistance. GBP/JPY is diving and there are chances of a move towards the 166.00 support.

Important Takeaways for GBP/USD and GBP/JPY
  • The British Pound struggled to clear the 1.2150 resistance zone against the US Dollar.
  • There is a key bullish trend line forming with support near 1.2040 on the hourly chart of GBP/USD.
  • GBP/JPY started a fresh decline from the 169.00 resistance zone.
  • There was a break below a major bullish trend line with support near 167.85 on the hourly chart.

GBP/USD Technical Analysis

This past week, the British Pound found support near the 1.1800 zone against the US Dollar. The GBP/USD pair formed a base and started a steady recovery wave above the 1.2000 level.

There was a clear move above the 1.2050 resistance and the 50 hourly simple moving average. However, the pair struggled to clear the 1.2150 resistance zone. A high was formed near 1.2153 on FXOpen and the pair started a downside correction.

GBPUSD-28112022.png


GBP/USD Hourly Chart

There was a move below the 1.2100 support and the 50 hourly simple moving average. The pair declined below the 23.6% Fib retracement level of the main increase from the 1.1778 swing low to 1.2153 high.

An immediate support is near the 1.2040. There is also a key bullish trend line forming with support near 1.2040 on the hourly chart of GBP/USD.

The next major support is near the 1.2000 level. If there is a break below the 1.2000 support, the pair could test the 1.1965 support or the 50% Fib retracement level of the main increase from the 1.1778 swing low to 1.2153 high. Any more losses might send GBP/USD towards 1.1880.

An immediate resistance on the upside is near the 1.2075 level. The next major resistance is near the 1.2120 level, above which the pair could start a steady increase towards 1.2150.

An upside break above 1.2150 might start a fresh increase towards 1.2250. Any more gains might call for a move towards 1.2320 or even 1.2400.

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Farabot

New Member
#MarketNews

ELON MUSK VS APPLE

On his (in every sense) Twitter, Elon said, addressing Tim Cook: “Apple has basically stopped advertising on Twitter. Do they hate free speech in America?"

Elon also accused Apple of censorship, saying Apple is threatening to remove Twitter from the AppStore.

And then he added an exposé tweet: "Did you know Apple puts a secret 30% tax on everything you buy through their App Store?"

It looks like a declaration of war between Elon and Apple.

Meanwhile, AAPL shares are falling, having failed to gain a foothold above the $150 level. But this is not due to Musk's tweets, but due to problems with factories in China — the spread of Covid threatens the production of iPhones.

The chart shows that the $135 level is an important support for AAPL stock. According to TipRanks, Wall Street's median opinion is that AAPL's share price will be $180 a year from now.

To take advantage of trends in the stock markets, consider enlisting the services of a reliable broker like FXOpen (http://fxopen.com/).

FXOpen-telegram.jpg


Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

Source: FXOpen Telegram channel

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Farabot

New Member
EUR/USD Correct Gains While EUR/JPY Faces Key Hurdle

EURUSD-30112022-A.jpg


EUR/USD is gaining pace above the 1.0000 resistance. EUR/JPY is also rising and might climb further higher above the 147.00 zone.

Important Takeaways for EUR/USD and EUR/JPY
  • The Euro started a downside correction from the 1.0500 resistance zone.
  • There is a key declining channel forming with support near 1.0310 on the hourly chart.
  • EUR/JPY started a strong decline and settled below the 144.50 support zone.
  • There is a major bearish trend line forming with resistance near 144.15 on the hourly chart.

EUR/USD Technical Analysis

The Euro formed a base above the 1.0200 zone and started recovery wave against the US Dollar. The EUR/USD pair was able to clear the 1.0320 and 1.0400 resistance levels.

There was a clear move above the 1.0420 level and the 50 hourly simple moving average. The pair even climbed above 1.0450 and traded as high as 1.0496 on FXOpen. It is now correcting gains below the 1.0450 level.

EURUSD-30112022.png


EUR/USD Hourly Chart

There was a drop below the 1.0350 level and the pair traded as low as 1.0319. On the downside, the pair might find support near the 1.0320 level. Besides, there is a key declining channel forming with support near 1.0310 on the hourly chart.

The next major support sits near the 1.0265 level, below which the pair could even test the 1.0220 support zone. If there is a downside break below the 1.0220 support, the pair might accelerate lower in the coming sessions. In the stated case, it could even test 1.0150.

On the upside, an immediate resistance is near the 1.0375 level. The next major resistance is near the 1.0400 level or the 50% Fib retracement level of the downward move from the 1.0496 swing high to 1.0319 low. The main resistance is near the 1.0450 level.

A clear move above the 1.0450 resistance might send the price towards 1.0500. If the bulls remain in action, the pair could visit the 1.0550 resistance zone in the near term.

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Farabot

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ETHUSD and LTCUSD Technical Analysis – 01st DEC, 2022

ETHUSD-1122022-A.jpg


ETHUSD: Piercing Pattern Above $1151

Ethereum was unable to sustain its bearish momentum and after touching a low of 1151 on 23rd Nov, the price started to correct upwards against the US dollar crossing the $1300 handle today in the Asian trading session.

After touching $1300 handle we can see some downward correction in the levels of Ethereum which is expected to enter into a consolidation phase now.

We can see the formation of bullish engulfing lines in the 2-hour time frame.

We can clearly see a piercing pattern above the $1151 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 1284 and is moving into a vonsolidation channel. The price of ETHUSD is now testing its vlassic resistance level of 1290 and Fibonacci resistance level of 1296 after which the path towards 1300 will get cleared.

The relative strength index is at 67 indicating a STRONG demand for Ether and the continuation of the buying pressure in the markets.

We can see both the bullish harami and bullish harami cross pattern in the 15-minute time frame.

Both the STOCH and STOCHRSI are indicating overbought levels, which means that the prices are expected to decline in the short-term range.

Most of the technical indicators are giving a STRONG BUY market signal.

Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1300 to $1350 in the short-term range.

ETH is now trading above its 100 hourly simple and exponential moving averages.
  • Ether: bullish reversal seen above the $1151 mark
  • The short-term range appears to be mildly bullish
  • ETH continues to remain above the $1200 level
  • The average true range is indicating HIGH market volatility
Ether: Bullish Reversal Seen Above $1151

ETHUSD-1122022.png


ETHUSD is now moving into a mildly bullish channel with the prices trading above the $1200 handle in the European trading session today.

ETH is now preparing to enter into a consolidation phase above the $1250 handle, after which fresh upside waves are expected.

ETHUSD touched an intraday high of 1304 in the Asian trading session and an intraday low of 1277 in the European trading session today.

We can see a bullish trend reversal signal with adaptive moving averages AMA20 and AMA50 in the 15-minute time frame.

The resistance of the channel is broken in the daily time frame indicating a bullish trend.

The daily RSI is printing at 52 indicating a neutral demand for Ether in the long-term range.

The key support levels to watch are $1202 which is a 14-3 day raw stochastic at 70% and $1211 at which price crosses 18 day moving average.

ETH has increased by 1.19% with a price change of 15.13$ in the past 24hrs and has a trading volume of 7.849 billion USD.

We can see a decrease of 2.57% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH price continues to remain under bullish pressure and after the current consolidation wave is over, we can expect fresh upsides in the ranges of $1300 and $1400 this week.

We can see the formation of a major bullish trendline in place from $1151 towards $1295 levels.

The immediate short-term outlook for Ether has turned bullish, 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 $1208 at which the price crosses the 9-day moving average stalls.

The weekly outlook is projected at $1400 with a consolidation zone of $1350.

Technical Indicators:

The relative strength index (14): is at 67.69 indicating a BUY

The rate of price change: is at 9.65 indicating a BUY

The bull/bear power (13): is at 46.55 indicating a BUY

The high/lows (14): is at 33.40 indicating a BUY

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Cryptocurrency CFDs are not available to retail clients in the UK

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
 

Farabot

New Member
Gold Price and Crude Oil Price Aim More Upsides, Bulls In Control

GOLD-2122022-A.jpg


Gold price climbed higher and traded above the $1,780 resistance. Crude oil price is also rising and might climb further higher above $82.50.

Important Takeaways for Gold and Oil
  • Gold price found support near the $1,720 level and started a fresh increase against the US Dollar.
  • There is a key bullish trend line forming with support near $1,792 on the hourly chart of gold.
  • Crude oil price gained bullish momentum above the $80.00 resistance zone.
  • There is a major bullish trend line forming with support near $81.00 on the hourly chart of XTI/USD.
Gold Price Technical Analysis

Gold price formed a base above the $1,720 level against the US Dollar. The price started a fresh increase and was able to clear the $1,750 and $1,765 resistance levels.

There was a clear move above the $1,780 resistance and the 50 hourly simple moving average. The price even broke the $1,800 level and traded as high as $1,804 on FXOpen. Recently, there was a downside correction below the $1,800 level.

GOLD-2122022.png


Gold Price Hourly Chart

An immediate support on the downside is near the $1,792 level. There is also a key bullish trend line forming with support near $1,792 on the hourly chart of gold.

The trend line is close to the 23.6% Fib retracement level of the upward move from the $1,745 swing low to $1,804 high. The next major support is near the $1,775 level or the 50 hourly simple moving average.

The 50% Fib retracement level of the upward move from the $1,745 swing low to $1,804 high is also near $1,775, below which there is a risk of a larger decline.

In the stated case, the price could decline sharply towards the $1,750 support zone. On the upside, the first major resistance is near the $1,800 level.

The main resistance is now forming near the $1,805 level, above which it could even test $1,820. A clear upside break above the $1,820 resistance could send the price towards $1,840.

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GBP/USD Rallies Further, EUR/GBP Takes A Hit

GBPUSD-5122022-A.jpg


GBP/USD started a fresh increase above the 1.2150 resistance. EUR/GBP failed to stay above the 0.8600 support and declined towards 0.8550.

Important Takeaways for GBP/USD and EUR/GBP
  • The British Pound started a fresh increase after it broke the 1.2050 resistance against the US Dollar.
  • There was a break above a major bearish trend line with resistance near 1.2000 on the hourly chart of GBP/USD.
  • EUR/GBP started a fresh decline after it failed to surpass the 0.8675 resistance zone.
  • There was a break below a major contracting triangle with support near 0.8615 on the hourly chart.
GBP/USD Technical Analysis

The British Pound found support near the 1.1920 zone against the US Dollar. The GBP/USD pair started a fresh increase and was able to clear the 1.2000 resistance zone.

There was a also a break above a major bearish trend line with resistance near 1.2000 on the hourly chart of GBP/USD. The pair even surpassed the 1.2150 resistance zone and the 50 hourly simple moving average.

GBPUSD-5122022.png


GBP/USD Hourly Chart

Recently, there was a minor downside correction from the 1.2300 zone. The pair dipped below the 1.2200 level. A low was formed near 1.2134 on FXOpen and the pair started a fresh increase.

There was a clear move above the 1.2250 resistance. The pair surpassed the 76.4% Fib retracement level of the downward move from the 1.2310 swing high to 1.2134 low. It is now trading above the 1.2310 swing high.

On the upside, an initial resistance is near the 1.2350 level. It is near the 1.236 Fib extension level of the downward move from the 1.2310 swing high to 1.2134 low.

The next main resistance is near the 1.2400 zone. A clear upside break above the 1.2400 and 1.2420 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2500 level.

On the downside, an initial support is near the 1.2300 level, below which it could test the 1.2250 support. The next major support is near the 1.2230 level and the 50 hourly simple moving average. Any more losses could lead the pair towards the 1.2200 support zone.

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Farabot

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GBP/USD Rallies Further, EUR/GBP Takes A Hit

GBPUSD-5122022-A.jpg


GBP/USD started a fresh increase above the 1.2150 resistance. EUR/GBP failed to stay above the 0.8600 support and declined towards 0.8550.

Important Takeaways for GBP/USD and EUR/GBP
  • The British Pound started a fresh increase after it broke the 1.2050 resistance against the US Dollar.
  • There was a break above a major bearish trend line with resistance near 1.2000 on the hourly chart of GBP/USD.
  • EUR/GBP started a fresh decline after it failed to surpass the 0.8675 resistance zone.
  • There was a break below a major contracting triangle with support near 0.8615 on the hourly chart.
GBP/USD Technical Analysis

The British Pound found support near the 1.1920 zone against the US Dollar. The GBP/USD pair started a fresh increase and was able to clear the 1.2000 resistance zone.

There was a also a break above a major bearish trend line with resistance near 1.2000 on the hourly chart of GBP/USD. The pair even surpassed the 1.2150 resistance zone and the 50 hourly simple moving average.

GBPUSD-5122022.png


GBP/USD Hourly Chart

Recently, there was a minor downside correction from the 1.2300 zone. The pair dipped below the 1.2200 level. A low was formed near 1.2134 on FXOpen and the pair started a fresh increase.

There was a clear move above the 1.2250 resistance. The pair surpassed the 76.4% Fib retracement level of the downward move from the 1.2310 swing high to 1.2134 low. It is now trading above the 1.2310 swing high.

On the upside, an initial resistance is near the 1.2350 level. It is near the 1.236 Fib extension level of the downward move from the 1.2310 swing high to 1.2134 low.

The next main resistance is near the 1.2400 zone. A clear upside break above the 1.2400 and 1.2420 resistance levels could open the doors for a steady increase in the near term. The next major resistance sits near the 1.2500 level.

On the downside, an initial support is near the 1.2300 level, below which it could test the 1.2250 support. The next major support is near the 1.2230 level and the 50 hourly simple moving average. Any more losses could lead the pair towards the 1.2200 support zone.

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