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SOLID ECN LLC

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This is the thread you will receive the market important and technical insights from Solid ECN Securities team. Trade safe!

EURUSD
20.12.2021
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The Euro/Dollar continued the decline below the 150 moving average on both weekly and daily charts. The Level 61 of the Fibonacci retracement has slowed down the momentum, and as of today, the price is consolidating around 1.130 area.

We see the price action caused a Doji and a hammer candlestick on the weekly chart, justifying the consolidation, or perhaps, a trend reversal.

Zooming in to the daily chart. The pair is struggling around the Fibonacci 61 level, in the four-hour chart, we see the market is being compressed between 1.136, and 1.119, forming double tops and double bottoms.

As long as the market holds above 1.120, there is a chance for the euro to recover some of its loss in December, before the year ends. The first target could be hitting the 1.138 resistance, to aim 1.146 on the second go.

Solid ECN statistics show that bulls are targeting 1.15 with a risk of December low.​





Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
 

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SOLID ECN LLC

Solid ECN Representative
Messages
107
GBPUSD
21.12.2021


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Welcome to Solid ECN Market Analysis

We are on the GBPUSD daily chart, where the pair is trading below the 1.35 key resistance. The next significant support lays far on September low at 1.267. The Fibonacci retracement kit draws the key support from March 2020 lower low to June 2021 higher high. The pair is trading in the declining channel supported with 38.2 Fibonacci retracements, suggesting a halt on the downtrend momentum.

Zooming in, the Level 38.2 of the Fibonacci retracement, and the declining trend line supports the buying bid, targeting the one point thirty five area. The bull's path to one point thirty five will be paved, If they can pass the minor resistance at one point thirty three.

On the other hand, 1.316 plays the support. The trend would continue declining if the last support fails to hold the bears from pushing down further.​



Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
 

SOLID ECN LLC

Solid ECN Representative
Messages
107
Gold
22.12.2021​

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Today we will be reviewing the gold price versus the dollar.

The metal has been losing value against the dollar since June 21.

Zooming in, the June higher high formed a declining line with the March higher low. The yellow metal struggled to break through the $1880 level, but it was pulled down by bears, and it has been trading below the $1880 level ever since.

At the bottom, we have the December and the July's low figured a double bottom pattern. Referring to the nature of the double bottom pattern, the buyers are optimistic about breaking the key resistance at $1880. This level has been capping the gold's price in the last few weeks.

If the market surpasses the sealing on $1880, the next target would be retesting the August high and the physiologic price at $2,000.

The key support is at $1670. The deck may magnet the price down. In this scenario, bears must beat the support at $1760 first. That will pave the road to retest the $1670 area.

For day-to-day trading, Solid ECN analytic shows that buyers are targeting $1860 with the risk of hitting the $1770, and sellers target $1670 with the risk of stopping at $1880.​




Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
 

SOLID ECN LLC

Solid ECN Representative
Messages
107
How to Trade the MACD Indicator


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We prepared a tutorial video of how to trade with the MACD indicator. In this tutorial, you will learn about the MACD crossover and the MACD divergence signals.

We hope this video helps you to have a better concept of the market and trade more efficiently.



Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
 

SOLID ECN LLC

Solid ECN Representative
Messages
107
AUDUSD
23.12.2021


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Today we review the Australian dollar against the US dollar on MetaTrader 5 platform.

The pair downside movement from February higher high slowed down in December, and as of analyzing, the AUD USD is trading around 0.72 area. The bears went off-road in their latest push to race the bulls away from the ascending channel. The vital support at 0.699 successfully holds the selling pressure so the Bulls can start biding and drag the race away from the last support standing.

From a technical standpoint, the MACD indicator shows both the divergence and the crossover signals, forecasting a trend reversal or a sideways market. Considering the 0.699 is the key to halting the further decline, the Australian dollar may target 0.755 as its first checkpoint.

Zooming out to the AUD USD weekly chart. The 0.699 is the key support. With a break of this threshold, bears road to checkpoint 0.669 will be paved.

Solid ECN statistics show that the bulls are hoping for 0.755 with the risk at 0.695, and the bears are more optimistic by having their bids on 0.6673.​




Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
 

SOLID ECN LLC

Solid ECN Representative
Messages
107
USDCAD
23.12.2021​


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Welcome to Solid ECN Market Analysis, today we will be looking at USD-CAD pair on the weekly and daily chart on our MetaTrader 5 platform.

The pair is currently trading around the pivot of 0.918. The bull's pressure was capped by the ascending trendline, which is valid since April 2019. The ascending trendline showed strength five times already. The battle between bears and bulls from 0.875 has formed a triangle, and the market is being squeezed as this report is published.

Minor Support levels are:
0.908
0.901

The main support levels are:
0.892
0.875

The downside movement started from 0.937 would probably ease at 0.908. With the hold of this level, the USD would have another leg extending to the upper side of the wedge at 0.93, and then we should wait for market behavior after hitting the ascending trendline for the sixth time.

From a technical standpoint, the failure of the 0.9086 support, signals the resumption of the CAD powering against the USD. In this scenario, the bear's path to the checkpoints at 0.892 and 0.8757 will be paved.

The market may influence by hedge funders, and there is a possibility of erratic movement. Please consider this risk before entering a trade on the new year's holiday.​






 

SOLID ECN LLC

Solid ECN Representative
Messages
107
EURUSD | GBPUSD | USDJPY
27.12.2021​




Today we will be looking at euro dollar, GBP USD, and USD JPY weekly and daily charts.

The Euro Dollar downside momentum from 1.226 eased at the Fibonacci 61.8 level near 1.118. The candles formed a "bullish Doji star" and a "hammer" pattern forecasting an upcoming trend reversal. The pattern can be spotted in the daily chart. Indicator-wise, the MACD shows a divergence in the trend. So far the outcome of the MACD divergence was the trend decline slowing down around 1.118 and moving sideways. Minor resistance exists at 1.138. With a break of this fragile sealing, the instrument would probably target 1.15. On the other hand, we'll witness more decline in the pair if the support at 1.118 fails.

GBP USD bounced from the 38.2 retracement level of the Fibonacci, and it is trading close to the minor support at 1.341. With a breach in the said level, the pound sterling surge to 1.366 would probably be seen in the next few days. 38.2 Fibo at 1.3158 is the conservative support. If this level breaks, the next target would be level 50 of the Fibonacci retracement around 1.225.

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USDJPY
The bulls have an outstanding performance against the bears on the JPY USD pair. Buyers didn't cute their pressure on passing the resistance at 114.4, and the market is on its way to test the sealing for the fifth time in the last 10 days. Support is at 111.66. As long as this level holds, the market trend is bullish. Resistance is at 115.53, with a break of the level, the path of the bull to 118.66 will be paved.​


Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
 

SOLID ECN LLC

Solid ECN Representative
Messages
107
Gold
29.12.2021​

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Today we are looking at the gold 4 hours chart.

The yellow metal breached the $1814 resistance yesterday, but the bulls couldn't hold the price above the said level. The instrument is trading near the 23.6 Fibonacci retracements. The upward trendline from December 22, and December 27 failed to keep the bullish sentiment.

Below the $1800 support is level 50 of the Fibonacci. If this minor support fails, the path to $1784 will be paved for the bears.

Trading Signal
The trend is bullish, and minor resistance will be seen from the bears here and there.
Solid ECN statistic shows that the buyers' target is $1830 and $1850 checkpoints with the risk of stopping at $1784.

On the other hand, the bears are targeting $1784 with risking the December higher high at $1820.​




Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
 

SOLID ECN LLC

Solid ECN Representative
Messages
107
EUR/USD
The market uncertainty persists

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The EUR/USD pair has been trading in the sideways range of 1.1350-1.1230 (Murray [2/8]-[0/8]) since the end of last month.

Investors remain less active on the eve of the New Year and monitor the dynamics of the incidence of coronavirus infection caused by the Omicron strain. At the moment, the authorities of the USA and European countries are trying to minimize restrictive measures, trying to prevent their impact on the national economy and not cause a new negative reaction among the population. Nevertheless, the update of daily anti-records against the background of an increase in the number of infected COVID-19 around the world makes experts sound the alarm. So, in the USA, the daily incidence has reached its highest during the entire pandemic, which levels the weakness of Omicron and increases the shortage of personnel at enterprises, limiting business activity.

Under these conditions, it is quite possible to expect that local authorities will go to tighten quarantine after the New Year holidays, since it is sanitary measures that will help significantly contain the spread of the virus. Today, data on initial applications for unemployment benefits will be published in the USA, which will illustrate the impact of the pandemic on the labor market. In case of an increase in the indicator, the US currency may be under pressure.

As for the euro, its position is also unstable, since the situation with morbidity in the eurozone countries is similar to the American one. The indicators are growing, which may cause the introduction of new quarantine measures. It should also be noted that recently there is an opinion among officials of the European Central Bank (ECB) that inflation in the eurozone may be higher than the regulator's forecasts. The negative dynamics should serve as a driver for an additional reduction in economic incentives, but concrete decisions in this direction from the ECB in the near future probably will not follow.

Support and resistance
In the near future, the price of EUR/USD is highly likely to remain in the range of 1.1350-1.1230. If the level of 1.1290 breaks down (Murray [1/8], the middle line of the Bollinger Bands), the decline of the trading instrument will continue to 1.1230, after which the growth may resume to the upper limit of the 1.1350 channel. The indicators do not give a single signal: the MACD histogram is decreasing in the negative zone, but the Stochastic has reversed down.

Resistance levels: 1.1350, 1.1413, 1.1475.
Support levels: 1.1291, 1.1230, 1.1170, 1.1100​

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