Discuss SolidECN.com

[SOLID ECN LLC]

Free Market Analysis Subscription

Solid ECN team delivers professional market analysis with both fundamental and technical aspects on a daily basis on 6 platforms.

> Website
> Email
> Linkedin
> Twitter
> Instagram
> Facebook

Feel free to sign up for a demo account to receive the latest market update to your inbox, or follow us on social networks.

Our analysis helps our clients to trade more efficiently, cut losses, and find the entry and exit points easier.​

---

 

[SOLID ECN LLC]

Solid ECN Solution for Inflation

We have inflation concerns at Solid ECN Securities. Therefore we came up with an ultimate solution by providing multiple wallets to our customers. They can save their assets, investments, and profits in the most demanded currencies and cryptos.​

• Euro wallet​
• US dollar wallet​
• Pound sterling wallet​
• Canadian dollar wallet​

Solid ECN offers trading more than 250 products with a Bitcoin based account in a true ECN environment! Feel free to open an account with Solid ECN, the best place to trade Forex, Commodities, Indices and cryptocurrencies.​

---

 

[SOLID ECN LLC]

EUR Drops After French and German PMIs

Flash PMI indices for January from France and Germany were released today at 8:15 am GMT and 8:30 am GMT, respectively. French release turned out to be mixed - the manufacturing index showed a big beat and returned above the 50 threshold while the services index missed expectations and moved deeper into contraction territory. Similarly mixed results were shown by German reading. However, in this case manufacturing data missed expectations while services gauge beat and moved back above 50 point threshold.

France​

• Manufacturing: 50.8 vs 49.7 expected (49.2 previously)​
• Services: 49.2 vs 49.9 expected (49.5 previously)​

Germany​

• Manufacturing: 47.0 vs 47.8 expected: (47.1 previously)​
• Services: 50.4 vs 49.6 expected (49.2 previously)​

EURUSD moved lower in a knee-jerk move following the French release but this drop was quickly erased while European indices moved higher. However, upward move on EURUSD was entirely erased following release of German data. DE30 erased big part of the gain but continues to trade slightly above pre-announcement levels.

EURUSD took a hit following release of German PMI data and is looking back towards the 1.0860 support zone.​

---

 

[SOLID ECN LLC]

Solid ECN Solution for Inflation

We have inflation concerns at Solid ECN Securities. Therefore we came up with an ultimate solution by providing multiple wallets to our customers. They can save their assets, investments, and profits in the most demanded currencies and cryptos.​

• Euro wallet​
• US dollar wallet​
• Pound sterling wallet​
• Canadian dollar wallet​

Solid ECN offers trading more than 250 products with a Bitcoin based account in a true ECN environment! Feel free to open an account with Solid ECN, the best place to trade Forex, Commodities, Indices and cryptocurrencies.​

---

 

[SOLID ECN LLC]

USDCHF - Growth is possible.

On the daily chart, the third wave of the higher level 3 develops, within which the upward first wave (1) of 3 formed, and a downward correction ended as the second wave (2) of 3. Now, the wave C of (2) has ended, and the development of the upward wave (3) of 3 has started, within which the first wave of the lower level 1 of (3) is forming.

If the assumption is correct, the USDCHF pair will grow to the area of 0.9600–0.9900. In this scenario, critical stop loss level is 0.9081.​

---

Visit solidecn.com

 

[SOLID ECN LLC]

EURUSD gathers the positive momentum

The EURUSD pair provided slight negative trades yesterday to test the EMA50, noticing that stochastic gathers the positive momentum clearly, waiting to motivate the price to resume the main bullish trend, which targets 1.1030 as a next station.

Therefore, our bullish overview will remain valid for the upcoming period, noting that breaking 1.0845 might press on the price to test 1.0745 areas before any new attempt to rise. The expected trading range for today is between 1.0800 support and 1.0970 resistance.​

Visit solidecn.com

 

[SOLID ECN LLC]

EURUSD Tests the Moving Average

The EURUSD pair continues to provide weak trades around the EMA50, noticing that stochastic attempts to provide positive signals, waiting to motivate the price to resume the bullish wave that targets 1.1030 as a next station.

Therefore, the positive scenario will remain active as long as 1.0845 level remains intact, reminding you that breaking this level will put the price under intraday pressure to test 1.0745 areas before any new attempt to rise. The expected trading range for today is between 1.0800 support and 1.0960 resistance.​

---

Visit solidecn.com

 

[SOLID ECN LLC]

​

Gold Technical Analysis

Gold price didn’t show any strong move since morning, and as long as the price is below 1936, our bearish overview will remain valid for today, supported by stochastic loss to the positive momentum, reminding you that our waited target is located at 1908.40.

The expected trading range for today is between 1908 support and 1940 resistance.​

---

---

Visit solidecn.com

 

[SOLID ECN LLC]

Platform

The popular trading platforms are narrowed to a few. We chose the newest and the most advanced platform that is available in the market, the MetaTrader 5!

Why MetaTrader 5?

Contrary to commune belief, MetaTrader 5 is not an upgrade of MT4. The MT4 platform was developed for trading in the Forex environment, whereas MT5 was coded for CFDs, Stocks, and futures access. To be short, MetaTrader 5 is for more experienced and advanced traders, but before we go with the MT5, at Solid ECN we ran a survey of the traders we know, and found out that most rookies and novice users are already with the MT5 platform, and for the first time the MT5 users have surpassed the MT4’s!

Major differences ​

• MT4 has 9-time frames, whereas MT5 offers 21-time frames. More time frames assist technical analyzers to have a better conception of the market movement.​
• MT 4 has 4 pending orders, whereas MT5 provides 6 types of pending orders.​
• MT 4 doesn’t have the market depth, but MT5 market depth is accessed within the chart.​
• MT5 has the Economic calendar on default.​
• MT4 has 4 types of pending orders, whereas MT5 holds 6 types.​
• MT4 allows hedging only, whereas MT5 allows both hedging and netting on request.​
• MT5 has 38 technical indicators, 44 analytical objects and unlimited charts​
• Partial order filling policies (fill/kill or cancel return) is another advantage of the MT5 for advanced traders.​
• The strategy tester of the MT5 platform is multi-threaded but MT4 is single-threaded.​

MetaQuote corporation has been sending announcements about stopping MT4 updates. Therefore, we believe it was in the best interest of all parties to go with the MT5 platform!​

---

Visit solidecn.com
​

 

[SOLID ECN LLC]

XRPUSD - The Pair is in a State of Uncertainty

Experts associate the downward correction, which is common for most digital assets, with the expectation of today's results of the US Federal Reserve meeting: the market is ready to soften the "hawkish" rhetoric, but investors are afraid to hear hints that the monetary policy tightening cycle will last a long time, so they remain calm and are in no hurry to buy risky assets.

The growth of quotations is hindered by the uncertainty associated with the suit of the US Securities and Exchange Commission (SEC) against Ripple, the verdict on which should be issued soon: the agency accuses the company of issuing an unregistered security (XRP token) and illegally distributing it in the amount of 1.3B dollars. Separate claims concern the management of the corporation: the company's CEO, Brad Garlinghouse, and its co-founder Chris Larsen, who, according to officials, received 600.0M dollars from the sale of their own coins. Investors were alarmed by the appointment of Monica Long, who previously held the position of general manager, to the post of president of Ripple: analysts believe that the current management of the company allows the outcome of the trial to be negative for her and seeks to prevent chaos in management in the event of serious legal consequences for Garlinghouse and Larsen.

Currently, the trading instrument is around the middle line of Bollinger bands. If it consolidates below it, as well as 0.3906 (Murrey level [8/8]), the decline may continue to 0.3662 (Murrey level [7/8]), 0.3418 (Murrey [6/8]). Consolidation above 0.4150 (Murrey level [+1/8]) will give rise to 0.4395 (Murrey level [+2/8], Fibonacci retracement 23.6%), 0.4750.

Resistance levels: 0.415, 0.4395, 0.475 | Support levels: 0.3906, 0.3662, 0.3418​

---

Visit solidecn.com