Daily analysis from FXOpen

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AUD/USD and NZD/USD 2023 Chart Outlook



AUD/USD started a decent increase in Oct 2022 and climbed above 0.6500. Similarly, NZD/USD was able to clear the 0.6000 resistance zone.

Important Takeaways for AUD/USD and NZD/USD

• The Aussie Dollar gained pace above the 0.6400 and 0.6500 levels against the US Dollar.
  
• There is a crucial bearish trend line forming with resistance near 0.6840 on the daily chart of AUD/USD.
  
• NZD/USD also started a steady increase above the 0.6000 and 0.6200 levels.
  
• There was a clear move above a key bearish trend line with resistance near 0.6270 on the daily chart.

AUD/USD Technical Analysis

In Oct 2022, the Aussie Dollar found support near 0.6200 zone against the US Dollar. The AUD/USD pair remained well bid and started a fresh increase above the 0.6400 resistance zone.

The pair climbed higher steadily above the 0.6500 level, but it remained below the 50-day simple moving average. There was a clear move above the 50% Fibonacci retracement level of the last major decline from the 0.7145 high to 0.6170 swing low.



AUD/USD Daily Chart

However, there are many resistances forming on the upside near the 0.6830 and 0.6850 levels. More importantly, the 50-day simple moving average is positioned near the 0.6850 level.

There is also a crucial bearish trend line forming with resistance near 0.6840 on the daily chart of AUD/USD. Only a successful daily close above 0.6850 might start a strong recovery towards the 0.7150 level.

The 76.4% Fibonacci retracement level of the last major decline from the 0.7145 high to 0.6170 swing low is also near the 0.7150 level. Any more gains might send the pair towards the 0.7200 level.

On the downside, the key supports are 0.6720 and 0.6680, below which the pair may perhaps decline extend its decline towards the 0.6600 and 0.6550 levels. Any more losses might call for a move towards the 0.6400 level.

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

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GBP/USD dan GBP/JPY Menuju Lebih Tinggi



GBP/USD mendapatkan kecepatan di atas zona 1,2100. GBP/JPY juga naik dan mungkin mendapatkan kecepatan jika menembus zona resistensi 160,20.

Catatan Penting untuk GBP/USD dan GBP/JPY

• British Pound menunjukkan tanda-tanda positif di atas 1,2000 terhadap Dolar AS.
  
• Terjadi penembusan di atas garis tren bearish utama dengan resistance di dekat 1.2065 pada grafik per jam GBP/USD.
  
• GBP/JPY memulai kenaikan baru di atas zona resistensi 158,50.
  
• Ada segitiga penciutan utama yang terbentuk dengan resistance di dekat 160.00 pada grafik per jam.

Analisis Teknis GBP/USD

Seminggu terakhir ini, Pound Inggris menemukan support di dekat zona 1,1840 terhadap Dolar AS. Pasangan GBP/USD membentuk basis dan memulai gelombang pemulihan stabil di atas level 1,2000.

Ada pergerakan yang jelas di atas resistensi 1,2050 dan rata-rata pergerakan sederhana 50 jam. Selama kenaikan, terjadi penembusan di atas garis tren bearish utama dengan resistance di dekat 1,2065 pada grafik per jam GBP/USD.



Grafik Per Jam GBP/USD

Pasangan ini bahkan melewati resistensi 1,2100. Tinggi terbentuk di dekat 1,2136 di FXOpen dan pasangan ini memulai fase konsolidasi.

Resisten terdekat di sisi atas dekat level 1,2140. Resisten utama berikutnya berada di dekat level 1,2200, di atasnya pasangan ini dapat memulai kenaikan stabil menuju 1,2250. Penembusan sisi atas di atas 1,2250 mungkin memulai kenaikan baru menuju 1,2320. Kenaikan lebih lanjut mungkin memerlukan pergerakan menuju 1,2400 atau bahkan 1,2500.

Support langsung berada di dekat 1,2080. Support utama berikutnya berada di dekat level 1,2065. Itu dekat level retracement Fib 23,6% dari pergerakan ke atas dari swing low 1,1841 ke high 1,2136.

Jika ada penembusan di bawah support 1.2065, pasangan ini bisa menguji support 1.2050. Itu mendekati level retracement Fib 50% dari pergerakan ke atas dari swing low 1,1841 ke high 1,2136. Penurunan lebih lanjut dapat mengirim GBP/USD menuju 1,1820.


Penafian: CFD adalah instrumen yang kompleks dan memiliki risiko tinggi kehilangan uang Anda.

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BTCUSD and XRPUSD Technical Analysis – 10th JAN 2023



BTCUSD: Three Inside UP Pattern Above $16608

Bitcoin was unable to sustain its bearish momentum and after touching a low of $16608 on 03rd Jan, the price started to correct upwards against the US dollar and is ranging above the $17200 handle in the European trading session today.

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

We can clearly see a three inside up pattern above the $16608 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 17133 in the Asian trading session and an intraday high of 17277 in the European trading session today.

The price of bitcoin is back over the pivot point in the daily time frame.

The ichimoku is indicating a bullish crossover with tenkan and kijun in the daily time frame.

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 55.92 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a BUY signal, which means that in the immediate short term, we are expecting targets of 17500 and 18500.

The average true range is indicating LESS market volatility with a strong bullish momentum.

• Bitcoin: bullish reversal seen above $16608
• The average directional index is indicating a NEUTRAL level
• The price is now trading just below its pivot level of $17261
• The short-term range is strongly bullish

Bitcoin: Bullish Reversal Seen Above $16608



The price of bitcoin continues to rise above the $17000 handle and after some consolidation we are expecting the immediate targets of $18000 and $19000.

There is an ascending channel forming with the current support at $16521 at which the price crosses 9-day moving average stalls.

The Williams percent indicator is back over -50 indicating a bullish tone present in the markets.

We can see the formation of a bullish trend reversal pattern with the adaptive moving average AMA20 in the 1-hour time frame.

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

Bitcoin’s support zone is located at $16802 at which the price crosses 18-day moving average, and $16926 which is a 1st Support point of the pivot point.

The price of BTCUSD is now facing its classic resistance level of 17271 and Fibonacci resistance level of 17289 after which the path towards 18000 will get cleared.

In the last 24hrs, BTCUSD has decreased by 0.08% by 14.08$ and has a 24hr trading volume of USD 15.993 billion. We can see an increase of 10.97% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin’s price is expected to enter a super bullish zone after crossing the $18000 level with the next upwards targets located at $19000 and $20000.

The daily RSI is printing at 60.20 which indicates a STRONG demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

The price of BTCUSD is now facing its resistance zone located at $17429 which is a 3-10 day MACD oscillator stalls, and $17789 which is a 38.2% retracement from a 13-week low.

The weekly outlook is projected at $18500 with a consolidation zone of $18000.

Technical Indicators:

The MACD (12,26): is at 25.00 indicating a BUY

The commodity channel index, CCI (14): is at 135.50 indicating a BUY

The rate of price change, ROC: is at 0.232 indicating a BUY

Bull/Bear power (13): is at 24.49 indicating a BUY

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

[whiteking]

EUR/USD and EUR/JPY Could Climb Further Higher



EUR/USD is eyeing an upside break above the 1.0750 resistance zone. EUR/JPY is rising and might climb further higher above the 142.50 resistance.

Important Takeaways for EUR/USD and EUR/JPY

• The Euro started a fresh increase above the 1.0650 resistance zone.
  
• There is a key contracting triangle forming with resistance near 1.0745 on the hourly chart.
  
• EUR/JPY started a strong increase and settled above the 142.00 support zone.
• There is a major bullish trend line forming with support at 141.20 on the hourly chart.

EUR/USD Technical Analysis

The Euro formed a base above the 1.0500 zone and started a decent increase against the US Dollar. The EUR/USD pair was able to clear the 1.0550 and 1.0580 resistance levels.

There was a clear move above the 1.0650 level and the 50 hourly simple moving average. The pair even climbed above 1.0700 and traded as high as 1.0760 on FXOpen. Recently, there was a downside correction below the 1.0750 support zone.



EUR/USD Hourly Chart

On the downside, the pair might find support near the 1.0720 level. The next major support sits near the 1.0695 level. The 23.6% Fib retracement level of the upward move from the 1.0482 swing low to 1.0760 high is also near 1.0695, below which the pair could even test the 1.0650 support zone.

If there is a downside break below the 1.0650 support, the pair might accelerate lower in the coming sessions. In the stated case, it could even test 1.0620 or the 50% Fib retracement level of the upward move from the 1.0482 swing low to 1.0760 high.

On the upside, an immediate resistance is near the 1.0750 level. There is also a key contracting triangle forming with resistance near 1.0745 on the hourly chart.

The next major resistance is near the 1.0780 level. A clear move above the 1.0780 resistance might send the price towards 1.0850. If the bulls remain in action, the pair could visit the 1.0950 resistance zone in the near term.

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

[whiteking]

BTCUSD and XRPUSD Technical Analysis – 17th JAN 2023



BTCUSD: Three Inside Up Pattern Above $17323

Bitcoin continues its bullish momentum from last week and after touching a low of $17323 on 11th Jan, the price started to correct upwards against the US Dollar and is now ranging above the $21000 handle in the European trading session today.

We can see an upwards rally in the BTCUSD which managed to touch the level of $21390 on 16th Jan.

We can clearly see a three inside up pattern above the $17323 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 21288 and an intraday low of 20952 in the Asian trading session today.

The price of bitcoin is ranging near a new record high of 1 month.

The ichimoku is indicating a bullish crossover with tenkan and kijun in the 30-minute time frame.

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 resistance of the channel is broken in the 15-minute time frame indicating bullish trends.

The relative strength index is at 72.09 indicating a very strong demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 22000 and 23500.

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

• Bitcoin: bullish continuation seen above $17323
• The STOCHRSI is indicating an OVERSOLD level
• The price is now trading just below its pivot level of $21167
• The short term range is strongly bullish

Bitcoin: Bullish Continuation Seen Above $17323



The price of Bitcoin witnessed a rally after crossing the $18000 levels, and now we can see some market consolidation above the $21000 levels.

After the consolidation phase is over, we are expecting upside moves in the range of $22000 to $24000 levels.

There is an ascending channel forming with the current support at $17379 which is a 14-3 day raw stochastic at 20%.

We can see the formation of a bullish trend reversal pattern with the adaptive moving average AMA20 in the 15-minute time frame.

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

Bitcoin’s support zone is located at $18865 which is a 50% retracement from a 4-week high/low and at $19892 which is a 14-3 day raw stochastic at 70%.

The price of BTCUSD is now facing its classic resistance level of 21263 and Fibonacci resistance level of 21320 after which the path towards 22000 will get cleared.

In the last 24hrs BTCUSD has increased by 1.28% by 266.18$ and has a 24hr trading volume of USD 22.330 billion. We can see a decrease of 4.90% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin’s price rocketed higher recently and moved to a 2-month high crossing the $21000 levels. We are now looking for the next upwards move towards the $22000 and $24000 levels.

The daily RSI is printing at 86.91 which indicates a very STRONG demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $17323 towards the $21324 level.

The price of BTCUSD is now facing its resistance zone located at $21466 which is a 13-week high and $22981 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $23000 with a consolidation zone of $22000.

Technical Indicators:

The MACD (12,26): is at 689.90 indicating a BUY

The commodity channel index, CCI (14): is at 86.32 indicating a BUY

The rate of price change, ROC: is at 1.60 indicating a BUY

Bull/bear power (13): is at 593.30 indicating a BUY


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.

[whiteking]

EUR/USD Could Correct Lower While USD/JPY Starts Fresh Increase



EUR/USD is correcting lower and trading below 1.0820. USD/JPY could gain bullish momentum if there is a clear move above the 130.80 resistance.

Important Takeaways for EUR/USD and USD/JPY

• The Euro started a downside correction from the 1.0870 resistance zone.
  
• There was a break below a key bullish trend line with support near 1.0800 on the hourly chart of EUR/USD.
  
• USD/JPY is attempting a fresh increase above the 130.00 support zone.
  
• There was a break above a major bearish trend line with resistance near 129.20 on the hourly chart.

EUR/USD Technical Analysis

This past week, the Euro found support near the 1.0700 zone against the US Dollar. The EUR/USD pair started a steady upward move above the 1.0750 and 1.0800 resistance levels.

There was a clear increase above the 1.0820 resistance zone and the 50 hourly simple moving average. The pair even climbed towards the 1.0850 resistance zone. A high was formed near 1.0874 on FXOpen and the pair is now correcting gains.



EUR/USD Hourly Chart

There was a move below the 1.0820 support zone. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.0730 swing low to 1.0874 high.

Besides, there was a break below a key bullish trend line with support near 1.0800 on the hourly chart of EUR/USD. The pair is now showing bearish signs near 1.0785.

It is consolidating near the 61.8% Fib retracement level of the upward move from the 1.0730 swing low to 1.0874 high. An initial support on the downside is near the 1.0775 level. The first major support is near the 1.0750 level.

The main support sits near the 1.0720 zone, below which the pair could start a major decline. In the stated case, the pair might dive towards the 1.0650 support zone.

On the upside, an immediate resistance is near the 1.0820 level. The next major resistance is near the 1.0850 level. An upside break above 1.0850 could set the pace for another increase. In the stated case, the pair might visit 1.0920. Any more gains might send the pair towards 1.0980.

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

[whiteking]

#MarketNews

THE PROBABILITY OF A REVERSAL OF THE DOLLAR INDEX IS GROWING

As the chart on the left shows, the dollar index futures fell to the level (1) of a 50% pullback from the amount of growth that began in 2021 and ended in the fall of 2022. Technically, this means that the price of the contract has reached the expected support level.

The chart on the right shows a pin bar (2) with a long lower shadow, which is interpreted as a bullish signal. Thus, technical analysts receive confirmation that the 50% level is taking effect.

The reason for the formation of the pin-bar is weak data on the US economy. Yesterday it became known that retail sales decreased by 1.1%. It also pulled the stock markets down. It looks like recession fears are growing and the “cash is king” idea that dominated 2022 is making a comeback.



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.

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

Source FXOpen Telegram channel

[whiteking]

AUD/USD and NZD/USD At Risk of Additional Losses



AUD/USD declined below the 0.7000 and 0.6950 support levels. NZD/USD also declined towards 0.6365 and is currently attempting a recovery wave.

Important Takeaways for AUD/USD and NZD/USD

• The Aussie Dollar started a fresh decline from well above the 0.7000 level against the US Dollar.
  
• There was a break below a key bullish trend line with support near 0.6960 on the hourly chart of AUD/USD.
  
• NZD/USD declined heavily below the 0.6450 support zone and tested 0.6365.
  
• There was a break below a major bullish trend line with support near 0.6405 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar started a fresh decline from the 0.7065 zone against the US Dollar. The AUD/USD pair remained in a bearish zone below the 0.7000 level.

There was a clear move below the 0.6950 support and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 0.6960 on the hourly chart of AUD/USD.



AUD/USD Hourly Chart

The pair traded as low as 0.6871 FXOpen and is currently correcting higher. It surpassed the 23.6% Fib retracement level of the downward move from the 0.7063 swing high to 0.6871 low.

On the upside, the AUD/USD pair is facing resistance near the 0.6940 level and the 50 hourly simple moving average. The next major resistance is near the 0.6970 level. It is near the 50% Fib retracement level of the downward move from the 0.7063 swing high to 0.6871 low.

A close above the 0.6970 level could start another steady increase in the near term. The next major resistance could be 0.7040.

On the downside, an initial support is near the 0.6890 level. The next support could be the 0.6870 level. If there is a downside break below the 0.6870 support, the pair could extend its decline towards the 0.6820 level. Any more losses might send the pair towards the 0.6750 support.

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

[whiteking]

GBP/USD Rallies Above 1.2400, USD/CAD Could Extend Losses



GBP/USD started a major increase and traded above 1.2400. USD/CAD is declining and might even trade below the 1.3350 support.

Important Takeaways for GBP/USD and USD/CAD

• The British Pound was able to move above the 1.2300 and 1.2350 resistance levels.
  
• There was a break above a key contracting triangle with resistance near 1.2380 on the hourly chart of GBP/USD.
  
• USD/CAD declined below the 1.3450 and 1.3400 support levels.
  
• It traded below a major bullish trend line with support near 1.3382 on the hourly chart.

GBP/USD Technical Analysis

After forming a base above the 1.2100, the British Pound started a steady increase against the US Dollar. GBP/USD gained pace for a move above the 1.2250 and 1.2300 resistance levels.

There was a move above the 1.2350 resistance and the 50 hourly simple moving average. The pair even moved above the 1.2400 level and traded as high as 1.2447 on FXOpen. During the increase, there was a break above a key contracting triangle with resistance near 1.2380 on the hourly chart of GBP/USD.



GBP/USD Hourly Chart

It is now correcting gains and trading near the 1.2440 level. However, it is trading well above 1.2350 and the 50 hourly simple moving average.

On the downside, an initial support is near the 1.2240 area. It is near the 23.6% Fib retracement level of the upward move from the 1.2335 swing low to 1.2447 high.

The next major support is near the 1.2400 level or the 50% Fib retracement level of the upward move from the 1.2335 swing low to 1.2447 high. If there is a break below 1.2390, the pair could extend its decline.

The next key support is near the 1.2320 level. Any more losses might call for a test of the 1.2250 support. An immediate resistance is near the 1.2450 level.

The next resistance is near the 1.2500 level. If there is an upside break above the 1.2500 zone, the pair could rise towards 1.2620. The next key resistance could be 1.2750.

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

[whiteking]

BTCUSD and XRPUSD Technical Analysis – 24th JAN 2023



BTCUSD: Inverted Hammer Pattern Above $20671

Bitcoin continues its bullish momentum from last week and after touching a low of $20671on 19th Jan we can see a bull run which managed to push the prices of BTCUSD above the $23000 handle today in the early Asian trading session.

After touching a high of $23159 we can see that the prices are declining due to profit taking by the medium term investors.

The price of bitcoin is ranging near a new record high of 1 month.

We can clearly see an inverted hammer pattern above the $20671 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday high of 23159 in the Asian trading session and an intraday low of 22858 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 63.63 indicating a strong demand for bitcoin, and the continuation of the buying pressure in the markets.

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

Most of the major technical indicators are giving a strong buy signal, which means that in the immediate short term, we are expecting targets of 23000 and 24500.

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

• Bitcoin: bullish continuation seen above $20671
• The STOCHRSI range is indicating oversold levels
• The price is now trading below its pivot level of $23066
• All of the moving averages are giving a STRONG BUY market signal

Bitcoin: Bullish Continuation Seen Above $20671



We can now see that the price of Bitcoin is moving in a correction phase after which the market consolidation will start above the $22500 handle.

The Aroon indicator is giving a bullish trend in the 1-hour time frame.

The momentum indicator is back over zero in the 30-minute time frame.

We can see the formation of the bullish harami cross pattern in the 15-minute time frame indicating bullish trends.

We have also detected a bullish price crossover pattern with the adaptive moving average AMA100 in the 15-minute time frame.

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

Bitcoin’s support zones are located at $21017 at which the price crosses 9-day moving average, and at $21976 which is a 14-3 day raw stochastic at 80%.

The price of BTCUSD is now facing its classic resistance level of 23200 and Fibonacci resistance level of 23288 after which the path towards 24000 will get cleared.

In the last 24hrs BTCUSD has increased by 0.47% by 107$ and has a 24hr trading volume of USD 27.839 billion. We can see an increase of 15.92% in the trading volume compared to yesterday, which is due to the heavy buying pressure seen in the global markets.

The Week Ahead

The price of bitcoin has already entered into a super bullish zone above the $22000 and further upsides are located at $24000 and $25000 in the medium-term.

Bitcoin’s resistance zone is located at $23309 which is a 13-week high and at $24778 which is a 3-10 day MACD oscillator stalls.

There is an ascending channel forming with the current support located at $19977 which is a 14-3 day raw stochastic at 50%.

The weekly outlook is projected at $24500 with a consolidation zone of $24000.

Technical Indicators:

The moving averages convergence divergence, MACD (12, 26): is at 359.30 indicating a BUY

The commodity channel index, CCI (14): is at 56.65 indicating a BUY

The relative strength index, RSI (14): is at 63.63 indicating a BUY

Bull/bear power (13): is at 594.12 indicating a BUY

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.