Thread: FXOpen Technical Analysis

GBP/USD and USD/CAD Showing Positive Signs


GBP/USD traded higher and recently broke the 1.2500 resistance level. USD/CAD is consolidating in a broad range and it seems like it could rise in the coming sessions.


GBP/USD Technical Analysis


The British Pound declined heavily this past week and even broke the 1.2450 support area against the US Dollar. The GBP/USD pair even broke the 1.2400 support level and traded as low as 1.2381 on FXOpen.





Later, the pair started a strong recovery above the 1.2400 and 1.2450 resistance levels. The bulls even pushed the pair above the 1.2500 resistance and 50 hourly simple moving average.


Read more on FXOpen blog about GBP/USD and USD/CAD

EUR/USD Tumbles While USD/CHF Is Rising Steadily


EUR/USD declined below the key 1.1205 support area to move into a significant downtrend. Conversely, USD/CHF is climbing higher steadily and recently broke the 0.9850 resistance area.


EUR/USD Technical Analysis


The Euro topped above the 1.1270 level and later started a major decline against the US Dollar. The EUR/USD pair broke many important support levels near the 1.1240 and 1.1220 levels to enter a bearish zone.





More importantly, the price broke the key 1.1200 support zone and declined heavily. Moreover, there was a close below the 1.1200 level and the 50 hourly simple moving average. The pair traded as low as 1.1143 on FXOpen and it is currently consolidating losses.


Read more on FXOpen blog...

EUR/JPY and GBP/JPY Signaling More Upsides


The Euro and British Pound traded higher this week against the Japanese Yen. Both EUR/JPY and GBP/JPY are correcting lower, but dips remain well supported.


EUR/JPY Technical Analysis


Earlier this week, the Euro declined steadily below the 121.00 support level against the Japanese Yen. The EUR/JPY pair even traded below the 120.50 support level and traded close to the 120.00 support level.





A swing low was formed near 120.04 on FXOpen and recently the pair jumped sharply higher. It broke the 120.50 resistance level and the 50 hourly simple moving average.


Read more about EUR/JPY and GBP/JPY on FXOpen blog...

GBP/SD and EUR/GBP: British Pound Turned Bearish


GBP/USD declined heavily below the key 1.2480 and 1.2425 support levels. EUR/GBP is currently climbing higher and it could even climb above the 0.9000 resistance area.


GBP/USD Technical Analysis


The British Pound failed to hold gains above the 1.2500 pivot level and started a steady decline against the US Dollar. The GBP/USD pair broke the key 1.2480 and 1.2450 support levels to enter a bearish zone.





There was a break below the 1.2425 support level and the 50 hourly simple moving average. Moreover, there was a break below a contracting triangle with support near the 1.2445 level on the hourly chart of GBP/USD.


Read more about GBP/USD and EUR/GBP on FXOpen blog...

A 'position' is the term used to depict an exchange advance. A long position implies a trader has purchased cash anticipating that the worth should increment. When the trader sells that money back to the market, his long position is said to be 'closed' and the exchange is finished. A short position alludes to a trader who sells cash anticipating that it should diminish, and plans to repurchase it at lower esteem. A short position is 'closed' when the trader repurchases the benefit.

EUR/USD declined heavily and recently started an upside correction from the 1.1110 support area. USD/JPY is trading in a solid uptrend and it could continue to rise above 108.80 and 109.00.

EUR/USD Technical Analysis

The Euro declined heavily in the past few days below the 1.1265 and 1.1210 support levels against the US Dollar. The EUR/USD pair even broke the 1.1180 support level to enter a bearish zone.

Moreover, there was a close below the 1.1180 level and the 50 hourly simple moving average. Finally, the pair traded below the 1.1120 level and a new monthly low was formed near 1.1101 on FXOpen.

Read more about EUR/USD and USD/JPY on FXOpen blog...

Gold price climbed higher sharply from the $1,400 support area and is currently correcting lower. Conversely, crude oil price is under pressure and is facing hurdles.

Gold Price Technical Analysis

Earlier this week, gold price declined below the $1,420 support against the US Dollar. The price even broke the $1,412 support level and tested the $1,400 support, where the bulls took a stand.



A swing low was formed near $1,400 on FXOpen and the price started a solid upward move. It broke many resistances near the $1,410 level. Moreover, there was a break above a short term declining channel with resistance near $1,408 on the hourly chart of gold.

Read more about Gold and Oil Price on FXOpen blog.

GBP/USD declined heavily this past week below the 1.2250 support area. USD/CAD is climbing higher and remains well supported above the 1.3200 level.

GBP/USD Technical Analysis

The British Pound started a strong decline from well above the 1.2400 level against the US Dollar. The GBP/USD pair broke the 1.2350 and 1.2250 support levels to enter a bearish zone.


The decline was such that the pair even broke the 1.2200 support level and settled well below the 50 hourly simple moving average. A swing low was formed near the 1.2079 level on FXOpen and the pair is currently correcting higher.

Read more on FXOpen blog...

EUR/USD started a solid recovery from the 1.1040 area and climbed above 1.1150. Conversely, USD/CHF declined heavily and settled below the key 0.9800 support area.

EUR/USD Technical Analysis

This past week, the Euro declined heavily below the 1.1120 and 1.1100 support levels against the US Dollar. The EUR/USD pair tested the 1.1040 support area and recently started a solid recovery.


It broke the 1.1100 and 1.1120 resistance levels. Moreover, there was a break above the 1.1150 resistance and the 50 hourly simple moving average. Finally, the pair traded above the 1.1200 resistance and formed a swing high near 1.1249 on FXOpen.

Read more about EUR/USD and USD/CHF...

AUD/USD and NZD/USD Sighting Strong Recovery


AUD/USD started a decent recovery from the 0.6677 swing low and traded above 0.6750. Similarly, NZD/USD is now attempting an upside break above the 0.6500 resistance.


AUD/USD Technical Analysis


Earlier this week, there was a strong decline in the Aussie Dollar below the 0.6750 and 0.6700 support levels against the US Dollar. The AUD/USD pair traded as low as 0.6677 and recently started a convincing upside correction.





The pair traded above the 0.6700 and 0.6750 resistance levels on FXOpen to move back in a positive zone. The upward move was positive since there was a close above 0.6750 and the 50 hourly simple moving average.


Read more about AUD/USD and NZD/USD...