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The EUR/JPY Review & Forecasting Uptrend
Since March 13 the EURJPY currency pair has changed the direction and became strongly down and it declined since this day till yesterday around 790 pips, so large number or big loss for the pair, but after yesterday close I think the pair finished the bleeding journey and will start rising now, so if you want to make money read all this report till the end.
Firstly, we have so strong support area and the prices gave us the buy signal let's take a look at the chart:
1. The rising wave after the Brexit on June 24 till the top on Dec 15, the pair has reached to 61.8%, and it's the golden correction percentage and expected the pair will rise from there.
the smaller rising wave from Feb 27 till March 13, the pair has reached to 161.8, the golden extension percentage.
2. The rising trend line from July 6 which the prices touched it 4 times before and rose, the prices have touched again this week and expected to rise again.
3. On the daily chart, yesterday candle is bullish engulfing candle which refers to the uptrend.
The Next Few Days
From this analysis on daily we can buy the pair now at 115.95 and keep our first target at 118.20 and the second one at 120.10 especially after we saw the RSI indicator give buy signal and rose to 37 level.
This week we don't have any hot news from the European Union or even from Japan but be careful from any unusual news can change the market direction.
Read More at https://superforex.com/analytics
AUD/CAD: review and forecast
The upward trend of the AUDCAD chart, which steadily continued amid decreasing of oil prices and other factors, is in the risk to be completed. Rising of oil prices and strengthening the USD allowed the canadian currency to strengthened amid disappointing statistics on the economy of Australia. The support line has been broken and greatly displaced down. So, now we can see that the downtrend is formed, though it's early to talk that current upward trend is over. It can be restored next week. Australian currency may take again the initiative, considering that in the near future, the market is not expected any important data on the canadian economy.
At the same time, next week, we expect important information from China and New Zealand, which may impact the value of the Australian currency, as Australia is a leading trade partner of these two countries. Yesterday, the AUD has increased significantly during 1 day - with 0,997 - up to 1,008 CAD thanks to latest information about economy of China, where in March, exports grew 16.4% year-on-year, and imports by 20%. In particular, imports from Australia grew by 74.8%. Also, positively impacted the strengthening of the Australian dollar, strong statistics on a labour market - recent report of the Australian Bureau of statistics show "the employment change" indicator was 60.9 K, against predicted 3 times less 20.
Today, we can't expect some volatility on the market because of Easter's holiday in Australia and Canada. So the the rates of the AUD/CAD probably will come to consolidation phase, but in Monday trading will be more active and probability of a price correction will increase. Oscillators give mixed signals, but in the current situation, low volatility in the market, we can pay attention to the entry points 1,0072 and 1,0085. At the moment, upon medium-term trading, we'd recommend to open the deals to SELL, trusting the Stochastics oscillator.
Read more at https://superforex.com/analytics
USD/SEK – review and short term forecast.
The rates of the USD/SEK is in the frames of upward trend. Dollar continues also to strengthen against the Krone, this week. It should be noted about unusually high volatility for this currency pair. Positively impacted the dollar a strong statistics from the USA this week. Employment in the agricultural sector increased to 263? against forecasted 187?. The number of applications for unemployment allowance dropped significantly to 234 thousand. It's been predicted reductions the number of applications from 258 to 250 thousands. In addition, received information about the reduction of the trade deficit: from - 44,8 - up-to -43,6. Also, it has been noticed the FED representatives, who said that current situation in the US economy is not only allows to increase the interest rate, but need it in the near future.
As for the Sweden, the market has not received new information that could affect the value of the Swedish Krona. At the moment there are only data for February. The most significant of them are increased volume of orders in industry by 12% and the growth of industrial production at 4.1% in February, year-on-year. Trade balance has been fixed at almost zero value, and in the period December 2016 - February 2017 amounted -0.6 billion SEK.
At this moment the most optimal can be the deals on the trend, which in the medium term can generate some profit. We can expect achieving the level 9.05. Oscillator MACD also show potential to growth. Though probability of a price correction remains high, but opening the short deals, seems less promising at the moment.
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Tesla CFDs Review & Forecast
Most traders prefer to trade with currencies and don't pay attention to the possibility to earn on the shares of leading companies. If you trade with currencies, you need to analyse many factors, which often contradict each other. All this requires much of your attention, knowledge and skills as a trader. Even if you are a trader with years of experience, the risk of losses is high. In contrast, trading with contracts of difference (CFDs) is much simpler.
We offer you to start trading with CFDs now in order not to lose an opportunity to get profit. We would like to direct your attention to the shares of TESLA. This young company is growing rapidly and has enormous potential. Now everything becomes predictable as never. Volatility becomes high and it is possible to make good money. The company is rapidly increasing its production of electric cars, becoming more and more profitable. In its 14 years of operations, TESLA is near in value to the cost of Ford Motor, which is more than 110 years old.
We can confidently expect that in the future this company will become the world leader of the automotive industry amid the comprehensive transition to electric cars and the desire to save the environment. Nowadays, even countries like China are beginning to use electric cars. All car manufacturers are increasing the volumes of electric cars production; the demand for electric cars is rapidly growing. Everybody understands that electric cars are the future of the automotive industry. This will certainly increase the value of TESLA's shares - in fact, it is increasing rapidly right now.
On the chart of the #TSLA, you can see an incredibly rapid upward trend. Nowadays you won't see anything like that. We can say for sure that this trend will continue in the future. We are waiting for further rapid growth, giant hikes and price corrections, which you can use to earn a profit with any trading strategy, both long- and short-term.
Thousands of traders have already noticed the potential of TESLA and trade on it actively. Now you can join them and trade profitably with #TSLA today.
We wish you luck in your trades!
Read more articles at https://superforex.com/analytics
Technical Outlook for USDJPY & Daily Chart
Since the Federal Reserve increase the interest rate last month and the US Dollar is in constant decline against the Japanese Yen from the highest level in the last two months at 115.49 to trade now at 110.40 it means more than 500 pips loss.
The USDJPY currency pair is trading now in series of corrective waves in a price channel which will lead the prices to make a correction movement to 50% and 61.8% Fibonacci, but we have a key support level at last month’s lowest prices that in case the pair broke it down we can take sell positions to make profits.
The MACD indicator is still giving us a sell signal and the bars are below the 0 value, the RSI didn’t give us the oversold sign yet, it means the pair will lose more pips.
The Next Few Days
From this analysis we can sell the pair now at 110.45 with small lot size and increase it once the pair broke the 110.15 level and keep our first target at 50% Fibo at 108.85 and the second one at 106.50 which reflect the 61.8% Fibo that in case the pair still trading below 111.70, if it broke 111.70 up we can buy it till 113.40.
We have to be careful in the upcoming hot news like the ISM nonmanufacturing PMI and the FOMC Meeting next Wednesday and the Non-Farm and jobs report on Friday
EUR/AUD: short review and forecast
The rates of EUR/AUD are in the frames of new upward trend, which has formed a month ago. The Euro strengthened against the U.S. dollar and many other currencies, including the Australian dollar (AUD). During the last few weeks we have not received any important information that would affect the Australian currency. The data that were on the market, were not enough. The iron ore prices are stable, the price of gold rising, but the price of copper is under the pressure due to increased volume of extraction. Positive statistics from Japan, the statements from China about plans to develop trade and economic relations with Australia, couldn't impact and strengthen the Australian dollar against the Euro. Thus, we can expect that the uptrend will continue in the near future.
the Euro is on the rise this days. It's strengthened against the USD, as D. Trump's reforms face with huge resistance in the U.S. Congress and successfully block all possible ways. In addition, the Eurozone, last week received a positive statistic that shows stability and growth in economy of the leading EU countries. The Eurozone PMI in March, achieved the record level for 6 years, reaching 56.7 pips. Record PMI also in Germany and France, separately. All this inspired investors, and EUR now seems more stable amid the USD, despite the official start of Brexit.
Oscillators indicate different signals. but in this situation, it is better to open the deals by the upward trend as Stochastics oscillator also confirmed and indicated good moment to open the deals to BUY.
Find more analysis at https://superforex.com/
EURJPY Technical Outlook & no more Bears in the Market
Our recent report about EURJPY on March 14, we recommend you selling the pair around 122.50 when it was trading nearly to the downside trend line and we saw the pair has declined more than 300 pips and achieved our targets so today we’ll have a look the same pair again because it maybe change the future trend.
The pair is trading now at 120.10 which is strong support area because it has a trend line which has started on October 21, and it has too a correction percentage 61.8% Fibonacci from the rising wave which started from 118.20 to 122.85 so, we predict to move up a little in this tight area, but the pair is still trading below the SMA50 which is resistance moving level, the MACD is still in sell signal but the Stochastic indicator made accumulation movement and gave us a buy signal which is considered an early signal for us.
The Next Few Days
From this analysis, we can close our sell positions with +320 pips and take a buy order after the pair touched the rising trend line and keep our first target at 120.80 and the second one at the downside trend line at 122.15 that in case the pair still trading above 119.30
This week the market doesn’t have hot news from the EU or Japan so the market will be in poor volatility in the next trading days.
Read more reviews at https://superforex.com/analytics
Technical analysis of the currency pair EUR/USD on 23.03.2017. The daily chart
General analysis
At the end of last week currency pair EUR/USD has broken through the resistance level at 1.07800.
Over the last month, this level was a significant barrier of the price growth. Meanwhile the resistance 1.07800was an upper bound of the price channel 1.07800-1.05500. After breaking through the level the price has fixed above the level and now it shows so called "back testing".
According to the rules of technical analysis the possible price movement due to the penetration of the resistance line is measured by channel height. So we can see the dollar at 1.08500 in the near future.
Stochastic indicator shows us a clear Buy but the signal line is already included in the overbought zone.
Next few days
We recommend to open long positions on EUR/USD after the start of the upward movement from support at 1.07800. The point of entry must be sought at hour and half hour timeframes. You can open a buy position after formation of "doji" near the support or other reversal figures.
We recommend to set up S / L order at 1.07500.
NZD/JPY: short market review and forecast
After the brief flat trend, the rates of the NZD/USD has returned to the downward trend. The Japanese yen continues to strengthen, while the New Zealand dollar is losing positions against all currencies.
In particular, JPY has got support thanks the published data about the increased volume of exports, which in February rose by 11.3%, while the import grew only by 1.2%. Trade balance, adjusted for seasonal fluctuations, was 0,68. These indicators exceeded the forecasts and show good potential for the Japanese economy.
For the NZD we haven't received any data which could impact the rates and change the situation for NZD. Last week, data about GDP only disappointed investors more because the growth was only 0.4%, against expected growth 0.7%. But today we expect important data from the RNBZ and their decision about the interest rate. It is expected that interest rate won't be changed and left at 1.75%. Also, on Friday will be information about the volume of exports and imports in New Zealand. Investors are positive in these indicators, in particular, expect a positive trade balance for the first time since June 2016.
Considering the forecasts for the NZD, it is possible to assume that in the evening we expect a price correction as a minimum. The New Zealand dollar will stop falling, and the quotes will go to the resistance line. Oscillators MACD and Stochastics unanimously confirm that now the best moment to open the deals to BUY, upon short-term trading.
Learn more at https://superforex.com/analytics
Technical analysis of the currency pair EUR/USD on 24/01/2017. The daily chart
General analysis.
On the background of the general weakness of the US dollar currency pair EUR / USD continues to rise and now has reached the level of 1.0780. The growth started from the very first days of January and continues until today.
On Monday 23 January, the price approached the level of resistance at 1.0800. The last time the price was in near the mark is in the middle of December 2016, that time price had been bounced of the resistance 1.0800 which marked the beginning of a serious decline.
Given the general downtrend for the EUR / USD we can expect a repetition of such a scenario and a second rebound is quite likely to be happened.
The earlier opened long positions most desirable to close today at the market price.
Stochastic indicator shows an upward movement and the signals lines is located in overbought zone.
As a confirmation of such scenario will be the signal of the intersection of the signal lines and exit of the overbought zone from top down.
Next few days
We recommend opening the deal to sell with a given currency pair while receiving confirmation of the rebound from the level 1.0800.
As a confirmation, will be performing a few daily candles closed below this level.
A targets for the price decrease will be 1.0650 and 1.0600.
Note: This article is provided in the form of recommendations for trading and SuperForex Company is not responsible for the result of transactions made by you based on this analysis.
Please be aware that CFD and FX trading on margin carry high levels of risk. Traders should ensure they understand the risks associated with leveraged CFD and FX trading before deciding to trade.
The daily chart of EUR/GBP currency pair 19.01.2017.
General analysis
After a substantial decline on Monday 17/01/17 Currency EUR / GBP pair is back in the frame of the price channel 0.8700 - 0.8340 and yesterday's daily candle closed below this level. Movement on Tuesday was about 170 points and was due to the overall growth of the British currency. The price of the British pound was also increased against all major quotations.
So far it is difficult to assert unambiguously about the role of level 0.8700 will it be a significant obstacle for the price for the price or not. But in the case of back-testing of it from the inside of the channel and rebound from it traders will be good reason to play on the slide.
Comparing the Stochastic indicator chart with price graph we can see a clear divergence which was formed last Friday. Such trading signal on the daily chart and with and rising market it is quite strong signal to sell Euro and it cannot be ignored.
Signal lines of Stochastic indicator has been crossed and demonstrates a clear buy signal.
Next few days
Considering the overall situation in the market for the Euro and price closeness to a significant resistance level at 0.8700 and the presence of divergence in the graph we have all the signals for the opening of sales for EUR/GBP.
The general trend is still increasing but today there is the most favorable situation to play on the rollback of the price.
During this week, we are likely to see a decrease to at least 0.8575 or even further to 0.8500.
We recommend to open sell position on EUR/GBP if the price goes below than 0.8650 with a target points for profit taking at 0.8575. Orders S/L we need to set up at 30-50 points above the enter point.
This article is provided in the form of recommendations for trading and SuperForex Company is not responsible for the result of transactions made by you based on this analysis.
Please be aware that CFD and FX trading on margin carry high levels of risk. Traders should ensure they understand the risks associated with leveraged CFD and FX trading before deciding to trade.
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We present you a post-release of the first day of the exhibition ShowFX World in Kiev, December 17, 2016.
The organizers had prepared a lot of surprises and presents for all visitors. By the end of the first day more than 400 people had registered.
This excitement among the visitors of the exhibition can be explained by several factors. First by their desire for knowledge, as the first day was when talks were given by such speakers as Mikhail Makarov, Stanislav Polovitskii, Alexander Davydov, Nikolay Ivchenko,and the special guest Alistair Crooks and SuperForexx analyst Semen Tochilin.
Semen Tochilin gave a talk on Fibonacci Levels and How to Use Them in Trading." A great number of people showed a willingness to discuss this topic with our analyst, but unfortunately the event had been clearly regulated. Therefore, discussions about the Fibonacci levels for a long time took place near the SuperForex booth and everybody got the answers to their questions. In addition, all visitors took part in a raffle organized by SuperForex and won certificates.
The lucky owners of certificates for $250 each are Vasil Roshko and Bozdugan Denis.
This was only the first day and the surprises from SuperForex had not ended. You can hear more about them in our next report about the second day of the exhibition.
Thank you to all who came and visited the SuperForex stand!
Technical analysis of the currency pair EUR/?HF on 05/01/2017. The daily chart
General analysis
During the past two weeks the currency pair EUR / CHF continues to move sideways and has formed maximum at 30.12.16 – 1.0760. However, last trading week closed with a couple of black candlestick with a big body and it is contrary to growth opportunities.
The first trading days of the current week was held under the auspices of the bulls and now we can see a return to growth.
Price has not been able to go below support 1.0690 by forming a rebound from this level.
A few weeks ago the price has already been successfully beat off from support level 1.0690. After obtaining several signals from other tools and indicators we can confidently expect the beginning of growth.
Next few days
Currency pair EUR / CHF is already moving sideways for a long time and at the moment we have a lot of reasons to expect the test of the upper boundary of the channel at 1.0790. However, given the resistance level at 1.0750 there is the probability forming of the peak and further decreases to the bottom of support 1.0690.
After after overcoming of local maximum at 1.0750 we can consider to open a long deals with targert points by 1.0790.
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Analysis on the currency pair GBP / USD. Results of the year
General analysis.
In 2016 the currency pair GBP / USD was quite difficult.
In terms of important fundamental data was a lot of key decisions from the UK and United States as well. his may include «Brexsit», Trump's election victory, increasing of the FED interest rate and even the OPEC decision to cut oil production.
All these factors were a powerful catalyst for the pair GBP / USD and summing the dry residue we can said that the by the results of 2017 the currency pair GBP / USD has lost about 2300 points.
First, the decision to Brexsit pulled the price down hit quite a long channel for GBP / USD. Further gradual strengthening of the dollar has continued to reduce the price to record lows and now the price is trading at 1.2270.
The last two and a half years the pair is in the long-term downtrend and at the moment there are no preconditions to expect stop the decline.
Speaking about the prospects for 2017 it should be noted that much will depend on global economic factors. The first important factor is the implementation of the OPEC countries agreements. If all goes according to plan and production significantly reduced, we can expect a reduction scenario to continue.
Another important indicator will be the Fed's policy in terms of the rate increase. They promised next year to raise interest rates at least three times, which of course will continue to strengthen the dollar. However, they are unlikely to be addressed to increase the rate three times in one year.
Graph 1
Speaking about short and medium term at the moment on the graph, we see penetration of the price band downwards and fixing prices below the support level.
Given the general downward trend on GBP / USD and the presence of signals for sale we can confidently expect continuation of decrease in the medium term.
Now, there are all prerequisites for the so-called back-testing, from where the most profitable will be opened for sale.
Graph 2
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Technical analysis of the currency pair USD / CHF on 27/12/2016. The daily chart
General analysis
Over the past seven trading days, the pair USD / CHF is moving sideways after the formation of peak at 1.0340. The price has been approached to resistance level 1.0340 for a third time but was never able to overcome it. Last time the price was in the area of the mark 1.0340 in November 2015 after which began a long sideways movement where we are today.
The prospect of breaking through the 1.0340 resistance for the pair USD / CHF is large enough.
We can see it on the fundamental data from America and Europe and by the help of technical analysis on the graph as well.
Most likely we will see two scenarios of further developments for USD / CHF:
Scenario #1: Break of 1.0340 resistance and exit from the sideways movement.
In this scenario, the transaction to buy should be opened after the formation of the confirmation of the breakout with a few candles up.
The objectives of the profit will be levels 1.0430 and 1.0450.
Scenario #2: Rebound from 1.0340 and resistance and reduced within the side channel.
Now the price has suspended its growth near resistance 1.0340 and began to form a correctional movement.
In case of breaking the support level of 1.0180 the price is likely to continue to decline within channel and when this scenario, the sales will be relevant below the 1.0180 with target points of profit taking at 1.0085 and 09950.
Technical analysis of the currency pair EUR/USD on 22/12/2016. The daily chart
General analysis.
This week the currency pair EUR / USD has suspended its decline and has formed a minimum at the level of 1.0350, thereby updating the minimum of the price for the last 13 years. The price has broken down a very important support level 1.0550 on which all buyers had hoped so deeply. But the price has passed this mark and successfully fixed below the support 1.0550.
Break of 1.0550 has paved the way for the EUR / USD to decline to parity or even lower.
At the moment, we see a small correction against downward movement and the level of 1.0550 is likely to be tested again. But this time it will be resistance for the price and most likely we will see a resumption of selling from this level.
You can open the transaction to sell now but in this case we risk to enter for sale directly on the corrective upward movement.
The ideal case scenario will roll back the price to 1.0550 and rebound from it down
Stop-loss on sales should be determined depending of amount of your deposit and trading hours.
For intraday and weekly traders a good mark for SL will be the area above 1.0600.
Longer-term traders can place orders at 1.0680 and above.
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Technical analysis of the currency pair EUR / CHF on 20/12/2016. The daily chart
General analysis
On Monday 19/12/16 currency pair EUR / CHF continued its decline by forming big dark candle with a decrease by 50 points. Also, according to the results of yesterday's session the support level 1.0700.
has been broken. Price was able to pass this mark and consolidate below the support level.
We are not expected major news from the Eurozone today so that the news background will be unusually quiet.
The graph of Stochastic indicator shows the convergence of the signal lines in the overbought zone.
Next few days
Break of the support level 1.0700 and fixing prices below indicates potential sales for EUR / CHF.
However, given the propensity of this currency pair to form false breakouts and the mixed signals from the indicator we can conclude that the opening of sale should be made only after receiving confirmation of the breakdown and fixing of the price below support at least with two candles.
The immediate goal to capture profits on sales below 1.0700 will be the level 1.0630.
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Technical analysis of the currency pair AUD/USD on 13/12/2016. The daily chart
General analysis
Currency pair AUD/USD continued to move sideways last week by forming the maximum on Friday – 0.7495. However, last trading week closed with a black candlestick with a big body and it is contrary to growth opportunities.
The first trading day of the current week was held under the auspices of the bulls and now we can see a return to growth and the approximation of prices to the local maximum at 0.7686.
The graph of Stochastic indicator tells us about the presence of the upward trend but the price has already approached close to overbought level so opening of transactions now will be quite a risky occupation.
Next few days
This currency pair is already moving sideways for a long time. Current price channel is 0.7700-0.7300 and at the moment there is every reason to expect the test the upper boundary of the channel at 0.7700. However, given the resistance level at 0.7550 there is the probability forming of the peak and further decreases to the bottom of the channel 0.7330.
After overcoming of local maximum at 0.7505 we can consider to open a long deals with target points by 0.7640.
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Technical analysis of the currency pair EUR/GBP on 08/12/2016. The daily chart
General analysis.
On Wednesday 08/12/16 currency EUR / GBP pair has closed higher by almost 70 points and now the price is located at the level of 0.8516.
Price has not been able to go below 0.8370 support by forming a rebound from this level.
A few months ago the price has already been successfully beat off from support level 0.8370 which has given rise to the medium-term uptrend. After obtaining several signals from other tools and indicators we can confidently can expect the beginning of growth now also.
Stochastic indicator is in the neutral zone but shows a clear upward trend.
Yesterday's daily candle with a large white body indicates the strength of buyers and likely confirm the formation of the bottom at the level of 0.8370.
Next few days
Total long-term trend for the EUR / GBP pair is still upward and now in the chart formed a favorable situation for opening long.
The nearest resistance level for the prices serves mark 0.8700 near which we recommend placing orders for take profit.
After the price breaks the level of 0.8700 the next upside target will be the 0.8850.
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SuperForex Partnership Program
The SuperForex Partnership Program is an excellent way for customers to develop their own business by recommending our trading services to their customers. They in turn receive an attractive compensation for each successful referral.
SuperForex provides you with a wide range of products, including a ready-made website for your business, a great variety of promo materials and an affiliate link that comes with full partner statistics, allowing you to discover the most advantageous strategy for doing business for you.
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SuperForex appreciates customer loyalty and rewards its members for bringing friends or family members to us. Moreover, the person referred to us will also get a reward in the form of a bonus depending on their initial deposit.
Invite your friends or family members to open a live trading account with SuperForex with an initial deposit of at least $100 and you will receive a cash bonus for each of your friends that register with us. You can refer a maximum of 10 friends. The bonus is instantly withdrawable!
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Technical analysis of the currency pair EUR / CHF on 01/12/2016. The daily chart
General analysis
Yesterday's trading day for the currency pair EUR / CHF showed unusually big volatility intro day and by the end of the day closed with a parity at the level of 1.0774.
First, the initiative on the market went Bulls and the price began to rise rapidly reaching its peak level at 1.0815. Therefore resistance level 1.0800 has been broken.
However, the price was unable be fixed above this level since after the opening of the US session, the market turned around and the price began to decline.
Following the results of the day closed at the same level at which started its move this morning 1.0774.
Next few days
Testing the resistance level 1.0800 with a further decline tells us it is the weakness of the uptrend and the fact that it is possible from this price will resume its movement in the medium-term downtrend.
We recommend to close all previously open long position of EUR / CHF and to consider the possibility of selling after a decline below 1.0750.
The target point for the profit for selling below 1.0750 will be levels 1.0705 and 1.0690.
Partnership program for Exchangers
If you run a business specializing in online foreign exchange tools and services and want to partner with us, you can attract new customers for us and get benefit from account replenishment and withdrawals.
On the one hand, you will gain profit from SuperForex account deposits and withdrawals. On the other hand, you will receive commission on every trade made by customers referred by you. Your profit depends on trading volume, so the more the traders in your affiliate group - the more you would earn.
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Technical analysis of the currency pair GBP/USD on 29/11/2016. The daily chart
General analysis.
Despite total rush of all basic quotes British Pound continues to trade in a narrow range and slowly but surely continues to strengthen its position against the US dollar.
Last week closed with a parity for GBP/USD currency pair and now there is the consolidation of the price near to the level 1.2450.
The nearest support level is located at 1.2340. Price has been repulsed from this level several times over the last two weeks and now again approaching to it.
The RSI is in the neutral zone and does not provide any essential signals.
The MACD shows movement above the zero line and continues to rise, confirming the presence of the upward trend on the chart.
Next few days
In the next few days we expect the resumption of growth in the currency pair GBP/USD with testing of the resistance level 1.2650.
We recommend to open long at the beginning of the upward movement from 1.2650 level and upon receipt of confirmation of rebound.
Order stop-loss exhibited by 20-30 points below the support level of 1.2340.
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[img]Are you subscribed to our social media channels?
Get exclusive information about special offers and promotions by following SuperForex online - on Facebook, VKontakte, Twitter, or YouTube!
Special offer: for a limited period of time we will be granting a bonus of $5 to all new followers. Get in touch with our Customer Support ( support@superforex.com ) in order to claim your bonus.
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Partnership Program for Education Projects
We developed a special option for those who specialize in Forex training courses for traders of all levels of proficiency. As our Education Project partner you will be given a status of a Licensed SuperForex Training Center. You will receive compensation based on the commission on the trades made by the training center participants. It is important to note that you will continue to earn commission on trades by participants who have already completed your courses.
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Technical analysis of the currency pair USD / CHF on 24/11/2016. The daily chart
General analysis
Last week, the currency pair USD / CHF has broken the upper border of the price channel 0.9950-0.9540. In which the price has moved from the end of November 2015. The channel line was broken and the price successfully closed above this level.
The width of the channel is about 400 points so that following the basic canons of technical analysis, we can expect significant growth franc in the medium term. It is likely that we will see 1.0300 on the franc in the near future.
The width of the channel has not fulfill itself for a hundred percent yet therefore we can expect continuation of growth of pair USD / CHF. However, at the same time traders should attentively follow the developments in a next few days since there is a high probability of the formation of the local maximum at this rate of growth.
Next few days
Considering all of the above signals we recommend to play long on the currency pair USD / CHF with a target point of profit-taking on the 1.0235 ? 1.0320.
Up trend is still preserved as the top of the upward trend has still not been formed.
There is a possibility of short-term correction but after the results of the latest news from the Americas region general direction for the currency pair USD / CHF is growth.
Hello there!
Superforex is a new brokerage company with worldwide operations. Since you may not have heard about is yet, here is a proper introduction:
SuperForex is an internationally regulated brokerage house licensed by the International Financial Services Commission (IFSC). Our business is dedicated to providing clients from more than 100 markets around the world with a large selection of financial instruments for algorithmic or self-trading, money management and investment, so they can trade on the Forex market. We are also the winners of Forex Report’s Best Newcomer award for 2015.
At SuperForex we offer you a wide range of trading instruments. By opening an account with us, you will be able to use more than 300 trading tools, such as currency pairs (including exotic pairs), CFDs on American shares, CFDs on precious metals, Oil, Futures on agriculture and world indices (Dow Jones, Nasdaq, DAX, Nikkei), among others. You can check the full list here