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FXOpen

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  1. Bitcoin prices hit new monthly lows of $5,883 dollars before stabilizing somewhat. Litecoin hit a new 2018 low yesterday at $49.10 dollars before rallying higher. It’s quoted at $54 dollars right now. Bitcoin Hits Monthly Lows As noted above BTC/USD hit new lows for this month before stabilizing. We are trading at $6,330 at the moment, not far from the $6,488 dollars quoted last week. In that article we said that the $5,700 to $6,000 area will provide some support. This is exactly where the current downmove decided to stall. A decisive clearing of this area should open the door to the $5,000 round figure. The latest bounce seems like a dead-cat. The lack of a fundamental driver coupled with the relatively small gains shouldn’t give much hope for an extended move. Continue reading...
  2. Bitcoin prices are back in a downtrend after falling 10 percent after yesterday’s SEC decision. Litecoin followed suit, breaking out from its range and starting its own bearish trend. Bitcoin Down After Delayed ETF Decision Bitcoin prices dropped close to 10 percent in the past 14 hours. The main catalyst behind the news was the U.S. Securities and Exchange Commission delaying a decision on the VanEck-SolidX ETF until September. While this may not seem like such a bad decision, this is exactly how the SEC treated the Winklevoss ETF. That decision was delayed for years, exhausting all legal delay options, then ultimately refused early last year. Today’s delay comes only 11 days after the SEC rejected the Winklevoss ETF for a second time. As we noted in our article back then, based on the reasons given by the agency, the VanEck-SolidX bid in August should be dead in the water too. Continue reading...
  3. After a long period of consolidation, Ether entered a downtrend vs BTC. Meanwhile Dash continued the bearish trend from the week prior. Ether Enters Downtrend We finally got a decisive break of support in ETH/BTC. Earlier the pair tried to start a new downtrend but was rebuffed twice as bulls rallied us back above the 0.07 BTC mark. Yesterday we got a sharp break below the previous low at 0.06734 BTC and unlike previous times we kept going. Today a new two-month low of 0.06232 BTC was hit. We are currently quoted just above here at 0.06139 BTC. Continue reading...
  4. Possible Breakout for Bitcoin After a prolonged period of low volatility and range-bound trading the crypto market rallied yesterday. Bitcoin jumped by $288 dollars to close the day at $6,663 dollars per coin. Litecoin rallied by $3.92 to close at $82.94 dollars yesterday. Possible breakout for Bitcoin Bitcoin finally ended the downtrend started back in May of this year. The crypto rallied by 4.5% yesterday. Today we’re gaining more ground with BTC/USD quoted at $6,712 right now. Bitcoin looks set to test the important resistance at $6,840 dollars per coin. A decisive breakout above here would start a new BTC rally. Above here there’s weak resistance at the previous swing low of $7,046 dollars. Resistance higher up can be found at the $7,775 swing high. This is followed by more levels at $8,590 and 8,880 dollars. The $10,000 round figure is another notable resistance level. A breakout above here could lead to more gains. Continue reading...
  5. Gold and Crude Oil Buyers Face Uphill Task Gold price is correcting higher, but it is facing a major resistance near $1,248. Crude oil price is under pressure, and on the upside, there are key resistances near $70.25 and $70.70. Important Takeaways for Gold and Oil - Gold price declined this week and settled below the $1,250 support against the US Dollar. - There is a crucial bearish trend line formed with resistance near $1,247-48 on the hourly chart of gold. - Crude oil price is likely to face many resistances on the upside like $70.25 and $70.70. - China’s Trade Balance in June 2018 posted a surplus of $41.60B, well above the forecast of $27.61B. Gold Price Technical Analysis Gold price remained in a downtrend this week from well above the $1,260 pivot level against the US Dollar. The price declined and broke many supports such as $1,254 and $1,250. It traded towards the $1,240 level and formed a low near $1,241. It is currently correcting higher and it already moved above the $1,244 resistance. It also broke the 23.6% Fib retracement level of the last decline from the $1,256 high to $1,241 low. However, there is a significant resistance formed near $1,248 and the 50 hourly simple moving average. There is also a crucial bearish trend line formed with resistance near $1,247-47 on the hourly chart of gold. Continue reading...
  6. Ether is desperately trying to cling on to the support around 0.07 BTC. Meanwhile Dash hit new 15-month lows today at 0.03335 BTC. Ether Teeters on Support Ether is quoted at 0.06946 BTC right now, desperately trying to climb back above the 0.07 BTC figure. Two days ago a new multi-week low of 0.06734 BTC was hit but as you can see on the chart below we bounced back quickly from here. While the support is now technically broken, we can’t call for a downtrend yet. For that to happen we need to see a decisive breakdown of a level not just a quick and shallow break. A break of 0.06734 BTC is now needed for a new downtrend. Weak support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC. Continue reading...
  7. Bitcoin Drops, Litecoin Follows Yesterday bitcoin made another attempt to break out and end the current downtrend. It was unsuccessful and the coin proceeded to drop by $346 dollars from the highs. Litecoin followed big brother lower declining by 6 percent today. Bitcoin Drops From Highs Bitcoin hit a high of $6,806 yesterday, only $34 dollars away from the previous swing high at $6,840 dollars. As noted in our last article, we needed a breakout above this level to end the downtrend. As that didn’t occur, BTC/USD remains in a downtrend on the daily charts. The $6,840 dollars figure remains to be the important swing high. A breakout above it would both end the downtrend and trigger a new uptrend in prices. We are currently quoted at $6,460 dollars, down 3.6 percent on the day. Continue reading...
  8. FXOpen cut spreads. Screenshot was made today on a real ECN account.
  9. FXOpen names the winners of the Forex Contest "Heroes of PAMM" FXOpen announces the results of the 3rd stage of "Heroes of PAMM" - a Forex contest on real PAMM accounts, which started on April 2nd. The final rating of the participants included only those traders who finished the competition with drawdown less than 20%. The first and third prizes were taken by traders from Indonesia, the second place – by a representative of Russia. The winner received a prize of 5 000 USD in the form of investments to his PAMM account. Continue reading...
  10. ETHER LITTLE CHANGED, DASH DOWN Both Ether and Dash are trading little changed versus bitcoin. Ether is up by 0.11% while Dash is lower by 0.84 percent since last Thursday. Not large moves by any means and especially not for the crypto market which tends to be more volatile than traditional markets. Ether Little Changed Ether is quoted little changed vs BTC. The altcoin had a short and uneventful trip below the 0.07 BTC figure on June 30th only to bounce back quickly. We are quoted at 0.07115 BTC right now, not far from where we were trading at on June 28th. Ether is still in range on the daily charts, we remain in ‘wait and see’ mode here. The shallow break below the previous lows doesn’t count as a trend changer. Continue reading...
  11. Ether is sitting on the important important around 0.07 BTC per coin. Meanwhile Dash is making new yearly lows and is quoted at 0.03693 BTC at the moment. Ether Sits on Support After falling by almost 10 percent since last Thursday, Ether is back at the important support of 0.07 BTC. Yesterday we briefly dipped below this important level and traded as low as 0.06961 BTC. But as we frequently point out here we are looking for a decisive break of a level, not just a quick and shallow spike below it. There are lot of games being played around important levels like 0.07 BTC so you shouldn’t jump the gun too quickly. Ether is quoted at 0.07107 BTC right now. A decisive breakdown below 0.06961 BTC is needed to finally start the downtrend on the daily charts. For now the pair remains in a range. Support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC. Continue reading...
  12. Both bitcoin and litecoin are trading only a few percentage points above the 2018 lows. Bitcoin is quoted at $6,075 dollars right now, down by $625 dollars or 9.3 percent. Litecoin is trading at $77.31 dollars, down by $20 and almost 21% in percentage terms. Bitcoin Floats Above 2018 Lows Bitcoin hit a new yearly low of $5,766 on Sunday but we got a fairly quick rebound from here. In the next few days the dead-cat bounce took us to $6,326 dollars but as you can see on the chart below a lot of those gains have since faded. We are still in a downtrend on the daily charts. To end it we need a breakout above $6,840 dollars per coin. A new rally, however, requires a break of the $7,775 resistance as well. Higher up there’s more resistance at $8,590 and 8,880 dollars per coin. The $10,000 round figure is another notable resistance level. Continue reading...
  13. FXOpen Compensates 100 % of the commission for deposits
  14. FXOpen Compensates 100 % of the commission for deposits FXOpen is pleased to announce a summer promotion that will let traders save money. From June 25 to August 31, the broker will be covering 100% of the commission to all company's clients for making deposits to their accounts via any payment system available (except for Bank Wire Transfer). You can check Payments → Funding options section to see the complete list of deposit options. Now you can avoid additional costs and save money for trading or further investment. Try out our trading instruments such as CFDs and PAMM Service. Source: FXOpen_news
  15. Some Gains Across Crypto Market The crypto market is seeing some gains across the board. Bitcoin is up to $6,700 from $6,315 dollars and LTC is at $97 dollars, up from $93 dollars last week. Bitcoin Higher but Downtrend Remains Bitcoin is up 6 percent by since our last update. Prices bottomed out at $6,129 dollars last week, very close to the all-time low for BTC/USD at $5,980 dollars. However despite the gains the downtrend on the daily charts remains. To end it the bulls will have to take us above the $7,775 swing high. A move above here would also restart the rally. Higher up there’s more resistance at $8,590 and 8,880 dollars per coin. The $10,000 round figure is another notable resistance level. A clear breakout above could lead to further gains. Continue reading...

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