xshot007
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The euro does not show much strength
Euro
The Monday is a bank holiday in the USA and the UK. The market activity can be low.
We expect some important economic data this week, mainly we expect the U.S. gross domestic product release. The Eurozone will publish the European Commission confidence indexes on Wednesday. The ECB President Mario Draghi will speak at the ECB forum in Portugal on Monday and Tuesday.
The experts forecast the data worse than the previous ones this week that could trigger a wave of dollar selling. If the forecast is proved it may lead to the pair correctional growth to the strong resistance level 1.3732.
The support levels are 1.3570-1.3590, and the resistance levels are 1.3620 - 1.3650.
MACD is in negative territory.
Trading recommendations
We see a classical formed a bearish divergence that can support the pair growth from the beginning of the trading week. We can close out deals at the resistance level 1.3691. The stop-loss can be placed at the resistance level 1.3732.
Click to learn more:http://freshforex.com/analitics/fresh-forecast/fa/week_202.html
so EU trend is bearish now? i'm still waiting the support/resustant level break to open position.
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Chinese Yuan is a new trading instrument
http://freshforex.com/netcat_files/Image/renminbi.png
Dear traders!
We are glad to inform you that a new Forex trading instrument - USD/CNH (Chinese Yuan) is now available for "FreshForex" traders.
Right choice of a highly liquid trading instrument is one of successful trading factors. USD/CNH perfectly suits this criteria as Chinese currency is considered to be a rather strong one. Moreover, Yuan can become one of the world reserve currencies very soon, which will also increase volatility of the pair.
This trading instrument will also be useful to those traders who want to minimize their risks. Add Yuan to your diversification portfolio and be sure your capital will be safe.
In the near future a lot of positive innovations are going to be introduced to"FreshForex" clients. Stay tuned!
Wish you success in trading!
"FreshForex" – fresh view on money
yuan currency is the currency that is predicted to be the strongest currency other than the U.S. dollar. Therefore, the addition of this instrument is a step forward in freshforex
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New free products in the "Huckster" shop of EA!
http://freshforex.ru/netcat_files/Image/huckster.png
Dear clients!
We are glad to inform you that our shop of Expert Advisors has been filled with new free products. Download them right now and enjoy the benefits of automatic trading:
• eBolligerBands is based on the Bollinger Band indicator. It renders deviations of current price;
• eMACD is based on MACD indicator, which uses convergence/divergence of moving averages for unequal periods;
• eFractals helps to find local Lows and Highs on chart of a certain financial contract.
Check other new products in the "Free Products" section.
Perhaps you need more? In our shop you can also find paid EAs and indicators at reasonable prices.
Apply them in your trading and achieve new financial tops!
Wish you success in trading!
"FreshForex" – fresh view on money
This broker provide the free EA for all client. I will try. I hope always make good profit.
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In April partners of “FreshForex” earned more by 32%!
http://freshforex.ru/netcat_files/612/608/h_fd3f0f2aae8efcf7530234236ceb37f7
Dear traders and partners!
We've improved partnership program of “FreshForex” and now you can get the highest possible income whereas number of clients is less. According to results of the first month of working under renewed partnership program, reward of partners of the company had already grown by 32%! Join them and start earning right now!
5 reasons to become a partner of “FreshForex”:
1. The highest payout on the Forex market
Get 3 clients per month and obtain up to 75% of spread! To be able to get the highest possible income in the rate of 100% of spread, it is only enough for you to bring 7 clients per month.
2. Active partners are paid better for volume
Bring new referral each month and earn up to $20 per each trading lot!
3. Ready-made promotional tools
Modern and well-performing tools are at your service. Just put “Best selling banner” and “RSS feed” tools to your site and promote your partnership group.
4. Partnership website with free support
Use off-the-shelve website for partner with an excellent functionality and convenient interface. Consult with our specialists to choose efficient strategy to promote your site.
5.“FreshForex” is your reliable assistant
Impeccable reputation of our company helps you to get more referrals. Thanks to excellent trading terms and round-the-clock support, clients of your group will trade and bring you income for a long time.
Become a partner of “FreshForex” and get the highest profit!
Wish you success in trading!
"FreshForex" – fresh view on money
The partnership program in freshforex is more profitable than others.
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MetaTrader 4 build 646 - even more possibilities!
http://freshforex.ru/netcat_files/Image/obnovlenie_meta_trader_4_build_646.png
Dear traders!
We are glad to inform you that soon MetaTrader 4 platform will be upgraded to 646 build. Update of the demo server is scheduled for May 13, and update of the real one is held on May 14.
What changes should be expected by users?
Improvement of search
Use the top panel to browse through search results in the documents, the library of source codes, MQL5 community forum and the MetaTrader Appstore. When you start typing a word in the search field, smart system displays a list of the most appropriate options. To search through the history of requests, you should put your mouse in the type bar and press the "down arrow". The search result will show to users not only text, but also avatars of books, articles and programs. It greatly simplifies the search process.
More mail servers supported now
Send emails from “Alerts” and MQL4 programs to the most popular email servers: Gmail, Hotmail, Yahoo. You can set email address for receiving messages in the terminal settings in the "Mail" preferences.
Besides, developers have fixed authorization error in the mobile terminals occuring as troubles communication took place. Management of stop-loss and take-profit levels was improved as well. You can learn more about this and other innovations on the official MQL4 forum.
Wish you success in trading!
"FreshForex" – fresh view on money
More improvement in mt4 trading platform make us more easy to analysis the market and more forex source.
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We congratulate you with the Victory Day!
http://freshforex.ru/netcat_files/612/608/h_d73c6fc244d20950e2f14f0b81ce39e8
Dear traders!
"FreshForex" company congratulates you with the Victory Day! This day remains both shining and mournful day for tens of millions people around the world.
We will always honor those who died protecting peace. Those people sacrificed their lives for the sake of our rosy future. Let the memory of their deed stays in our hearts forever. With all our heart we wish that peace and well-being were in your homes!
Congratulation Victory Day. Wish you more success in trading and more profit.
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MasterCard and Maestro can be now used for Payonline funding
http://freshforex.ru/netcat_files/612/608/h_10235c30e9959a3aad363da9e7f5408a
Dear traders!
We are glad to tell you that from now on, for funding account via Payonline system you may use not only Visa, butMasterCard or Maestro as well. Avail from a reliable protection of the personal data and fund account without any commission!
Payonline payment system is one of the simplest and most secure methods for making payment by bank cards. International data security standard PCI DSS perfectly protects personal information from fraudulent use. Let us remind you that all clients with confirmed personal data can fund trading accounts with the help of Payonline.
You may fund the manual on depositing via this method in “Trading terms – Deposit and withdrawal” section of our website.
more ways to deposit in freshforex make us more easy to deal and make withdrawals.
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Clearing on trading servers of "FreshForex" company
http://freshforex.ru/netcat_files/Image/kliring.png
Dear traders!
We would like to inform you that from April 28, 2014, clearing will be presented on trading servers of "FreshForex" company. We are striving to increase level of the company's reliability, so we've introduced a new tool of financial control.
Clearing is the procedure of cashless settlement between the company and its contractors. All major banks and reliable brokers use clearing for mutual settlement with cooperating entities.
Please note that clearing will not affect rollover of clients' positions to the next day. But as long it this procedure is active, trading and non-trading operations are prohibited on the trading server and there will be no quotes. Clearing begins at the opening of trading day at 00:00 as per the server's time and can take up to 5 minutes.
"Terms and definitions" and the 8th article of “Regulation of trading transactions" documents have been amended accordingly.
Trade with "FreshForex" and enjoy service of the highest level!
a great breakthrough for the broker to make the customer feel comfortable.
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MetaTrader 4 Mobile - trade all over the world!
http://freshforex.ru/netcat_files/Image/metatrader4_mobile.png
Dear traders!
We remind you that for working with "FreshForex" you may use not only the traditional terminal, but mobile platforms too. Trade from anywhere, use different tools of technical analysis and get profit!
MetaTrader 4 Mobile is being constantly improved to make the process of trading more comfortable. In recent months,application for iOS had been improved. In the arsenal of the trader appeared new graphics for technical analysis, including tools of Gann and Fibonacci. Trade speed was increased when connecting to new trading servers, shift chart option was added.
Traders of "FreshForex" using Android platform, can also appreciate convenience of the service. The latest updates improved performance and stability of the application. More than 30% traders of our company already use mobile terminals. Connecting to your account via a mobile terminal is very easy - just select in the list of brokers "RistonCapital" and enter your data.
with mobile trading allows us to monitor the position anywhere.
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Market News
May 8: Asian session
http://www.fxbazooka.com/upload/tiny/News/asian1.png
Asian stock markets rose on Thursday, supported by the Fed’s Yellen dovish comments and upbeat Chinese trade data that suggest some signs of stabilization economy. China trade surplus increased from 7.7B to 18.5B in April. There are signs of tensions in Ukraine easing: Russian President Vladimir Putin called on pro-Moscow separatists to postpone a secession vote.
AUD/USD strengthened to $0.9375, supported by the upbeat Australia labor market data and a better-than-expected China trade balance. The number of people employed in Australia rose by 14.2K in April (forecast: 7.5K), while the jobless rate held unchanged at 5.8% (forecast: 5.9%). NZD/USD consolidates 30 pips above the session low of $0.8640 following the yesterday’s sharp selloff. USD/JPY faced resistance at the 102 figure and retraced to 101.70.
EUR/USD and GBP/USD consolidate slightly below the recent highs, waiting for the ECB and BoE policy meetings.
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Forex Analytics
7 May 2014
EUR/USD: what to expect?
Kira Iukhtenko, FBS
EUR/USD made another bullish move on Tuesday, hitting $1.3950. The greenback lost most of its shine on the back of the falling US yields. On Wednesday the market is consolidating the yesterday’s growth and waiting for the major events – Fed’s Yellen speech tonight and the ECB meeting tomorrow.
In our view, Mrs. Yellen is unlikely to influence the trade direction today. She is expected to repeat the dovish comments about the low inflation and weak labor market (supportive for EUR/USD). As for the ECB on Thursday, monetary policy will stay unchanged. A rate cut is widely expected in June, so Mr. Draghi may start preparing the investors for that. However, dovish rhetoric is not enough to impress the euro-bullish market.
What to expect from the pair in the coming days? Given the euro’s resilience – the currency simply ignores all the negative news – we see room to test $1.4000 this week. Strong resistance for the pair lies at $1.3967 (the 2014 high). Note that the market is overbought, however. There is a MACD divergence on a daily chart. We still put long-term bullish prospects of the pair on doubt. Support lies at $1.3800/3780 and $1.3660.
http://www.fxbazooka.com/upload/tiny/Analytics/2014/May/7/eurusddaily.png
Chart. Daily EUR/USD
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Forex Analytics
BNP Paribas lowered EUR/USD forecast
Strategists at BNP Paribas have revised down their Q2 EUR/USD forecast from 1.3700 to 1.3500.
"Consistent with our economists’ forecasts for a deposit rate cut in June and acknowledging that the ECB’s recent FX rhetoric has limited EURUSD’s near-term upside, we have revised down our Q2 forecast to 1.35 from 1.37," BNPP outlines the rationale behind this revision.
"In the absence of further ECB action, EURUSD weakness towards 1.30 is likely to materialise gradually, in line with the improvement in the US economy and the shift to a less accommodative Fed policy," BNPP argues.
"However, our base case is that the ECB delivers QE in Q3 which should bring about an acceleration in the pace of the EURUSD’s decline, pushing it below 1.30," they add.
"We continue to see EURUSD at 1.26 by year-end," BNPP forecasts.
http://i1046.photobucket.com/albums/b466/rikicool/BNPParibas_zps498ecbf1.jpg
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Market News
May 7: American Session
http://www.fxbazooka.com/upload/tiny/News/america1.png
Tatiana Norkina, FBS analyst
The U.S. dollar weakened somewhat during today's speech of the head of U.S. Federal Reserve Dzh.Yellen. The correction stopped, and the index fell to the morning values in the area of 79.15, but the positive trend continues. Major U.S. stock markets opened in different directions. So, DJIA - in positive area, about 0.12%, while the S&P500 - in the red zone, a little more than 0.15%.
Currency pairs again in the outset today. EUR/USD pair is trading at the lower edge of today's range 1.3910-1.3930. GBP/USD moderately reduced in 1.6960 area. Not excluded a deeper correction after yesterday's growth.
The currency pair USD/CHF has adjusted to the level of 0.8760. But the pair USD/JPY, after testing the recent support of 101.40, moved up to the figure of 102.00. But the bulls are not yet able to maintain their advantage and the rate dropped to 101.65 area.
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Forex Analytics
T. Norkina: trade signals (May 7)
T.Norkina, FBS analyst
EUR/USD: buy – 1.3910; stop – 1.3890; target1 – 1.3950; target2 - 1.3975.
USD/JPY: buy – 101.40; stop – 101.20; target1 – 101.80; target2 – 102.00.
http://www.fxbazooka.com/upload/tiny/News/Currencies/euro.img_606X341_0612-economy-eurozone-euro-coin-RTR2UWPL%20%281%29.jpg
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Market News
May 6: Asian session
http://www.fxbazooka.com/upload/tiny/News/asian1.png
Asian stock markets were mixed on Tuesday with MSCI Asia Pacific index adding 0.1%. Trading volumes remain low as markets in Japan, Hong Kong and South Korea are closed for holidays. Yesterday the markets were cheered up by the strong US ISM manufacturing PMI. USD/JPY weakened from the session high of 102.20 to 102.00.
AUDUSD jumped up from $0.9283 to $0.9316, but failed to fix at these highs. The Reserve Bank of Australia left monetary policy unchanged and came with a neutral statement. The bank, however, has once again referred to the overvalued currency. Australia trade surplus came below the forecast. NZD/USD touched $0.8715. Gold consolidates around $1309 – slightly below the yesterday’s 3-week high of $1315.
EUR/USD consolidates below the yesterday’s high of $1.3885, while GBP/USD touched $1.6895. Euro zone and Great Britain will release service PMIs later in the session.
More:
http://globalforextalk.com/forums/showthread.php/14444-Company-news?p=49412#post49412
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Market News
Opinion: US labor data not so good
5 May 2014
According to UBS, even though the US employment figures were much better than expected, the drop in unemployment rate was mainly due to falling participation, showing the continued slack in the US labor market. Economists don't think the figures will have a long-playing positive effect for the market.
“The US labor market report showed on Friday, that hiring in the US has been much stronger in April than markets had expected. 288K jobs had been created in April, compared to a 210K expected", analysts remind. "Also the unemployment rate dropped from 6.7% in March to 6.3% in April. However, a lot of this drop came on the back of a falling participation. Also wage growth has been flat, showing the continued slack in the US labor market”.
http://www.fxbazooka.com/upload/tiny/News/Flags/us-debt-problem.gif
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Market News
CFTC: USD shorts declined
Here are the essentials of the latest Commitments of Traders (COT) report, released on May 2 by the Commodity Futures Trading Commission (CFTC) for a week ended on April 29. According to the report, large traders and speculators decreased their overall bearish bets of the US dollar from $1.6 billion on April 22 to $0.7 billion on April 29. The USD position has been on the bearish side for the past three weeks.
http://cdn.fbs.com/sites/default/files/image/analysis/2014/May/5/cot-levels.png
http://cdn.fbs.com/sites/default/files/image/analysis/2014/May/5/cot-standings.png
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Market News
May 5: Asian session
http://www.fxbazooka.com/upload/tiny/News/asian1.png
Asian markets took a turn lower on Monday as the HSBC survey showed China manufacturing fell for a 4th month in a row. The final reading for the HSBC Manufacturing PMI fell to 48.1 in April vs. expected 48.4 (reading below 50 indicates contraction). Markets are now concerned that the second largest world economy is losing momentum. The risk sentiment was generally positive before the China figure came out: investors were inspired by the Friday’s US labor report (+288K vs. 216K expected). The increased tensions in Ukraine keep gold and bonds well bid. Japan, South Korea and Thailand markets are closed for a holiday today.
USD/JPY hit a two-week low of 101.85 as demand for the safe currencies increased. The pair lost more than 100 pips from the Friday’s peak of 103.02 hit on the strong US labor report.
Demand for the commodity currencies is subdued. AUD/USD opened the week with a bullish gap at $0.9285, dipped to $0.9250 later in the session and now recovered to $0.9275. Australia building approvals fell by 3.5% in March. Reserve Bank of Australia holds a policy meeting tomorrow. NZD/USD is trading under pressure around $0.8250. Gold opened with a gap up and hit to $1309.4 in Asia (highest since April 15).
EUR/USD consolidates in the $1.3885/65 range after a volatile Friday, while GBP/USD hovers in the $1.6885/68 band. UK markets are also closed.
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Market News
May 1st: American session
http://www.fxbazooka.com/upload/tiny/News/america1.png
Tatiana Norkina, an analyst at FBS
Statistical data on the U.S. economy was mixed today. So, weekly statistics on applications for unemployment benefits were much worse than expected: 344 thousand vs. 319 thousand. In the same time, personal expenses of Americans increased by 0.9 % instead of the expected growth of 0.6 %. This indicates a positive trend in the U.S. economy, which allowed to strengthen the dollar index. However, the main intrigue of the markets will persist until tomorrow, when it will be published non-farm payrolls for April. Very positive data is expected. Today, the percentage change of the dollar index is near zero. The stock market is also at zero level.
Currency pairs are waiting. Thus, the pair EUR/USD is consolidating in 1.3870, GBP/USD is again restored to the figure of 1.6900.
Currency para USD/CHF stopped at 0.8790 and USD/JPY slowly grew to 102.35 resistance.
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Market News
Apr. 30: American Session
http://www.fxbazooka.com/upload/tiny/News/america1.png
Tatiana Norkina, FBS analyst
U.S. dollar today began to weaken against many world currencies before the publication of the report on inflation in the Euro zone. According to statistical data for the last month inflation was only 0.7% , instead of the expected 0.8%. In the focus of attention of investors today was also the statistics from the U.S. Thus, according to ADP data, change in the number of working places in the non-agricultural sector was 220 thousand, against expectations of 210 thousand, however quarterly U.S. GDP growth showed only 0.1% instead of the projected 1.2%. A little later, Fed 's statement on interest rates is expected . Rates are expected to remain at the same levels of 0.25%.
U.S. dollar index is currently losing 0.30%. Stock markets - about zero.
In currency markets, there is a revival. The pair EUR/USD rebounded to around 1.3870 mark after testing 1.3790 support. And GBP/USD pair finally resumed growth and has established a new maximum in the area of 1.6870 today. Bulls continue to tread.
Currency pair USD/CHF plummeted to around 0.8790 mark. The dollar weakened and against the yen: USD/JPY fell to a level of 102.20.
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Market News
Terrible US GDP
US published mixed statistics on Wednesday. Nonfarm payrolls by ADP came much better than expected: 220K versus forecasted 203K, March reading revised up to 209K.
However, the main event of the day was the US Q1 GDP. Data came out MUCH worse than expected: economy added only 0.1% vs. forecast 1.2% and 2.6% in Q4. EUR/USD jumped to $1.3870 on the news.
Waiting for the Fed monetary policy announcement at 18 GMT.
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Market News
US GDP and the Fed in focus
Mark Jensen, FBS
Market volatility was pretty low at the beginning of the trading week: investors stayed cautious ahead of the news scheduled for the end of the week.
The US intrigue will be partially disclosed on Wednesday. Pay special attention to the nonfarm payrolls by ADP at 12:15 GMT. The April report is expected to show a solid 215K increase in private payrolls.
US will release its advance Q1 GDP (forecast: + 1.2%; Q4: revised down to 2.6%) at 12:30 GMT. The U.S. economy probably grew at the slowest pace in a year as the untypically cold winter weather lowered consumer and business confidence.
Later in the day FOMC will announce its monetary policy decision (18:00 GMT). The April meeting should provide few surprises: the QE taper is expected to continue at a pace of $10 billion. There will be no press conference or new projections in April. The market will likely focus on when interest rates might begin to rise and at what pace.
http://www.fxbazooka.com/upload/tiny/News/Currencies/dollar-ichaz.jpg
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Forex Analytics
Trade signals from Danske Bank (Apr. 30)
*Danske Bank applies trailing stop orders (moved together with the price)
EUR/USD: Sell at 1.3825 with a target of 1.3762 and a stop at 1.3882
USD/JPY: Long at 102.60 with a target of 103.43 and a stop at 102.19
GBP/USD: Long at 1.6700 with a target of 1.6917 and a stop at 1.6740
USD/CHF: Buy at 0.8825 with a target of 0.8905 and a stop at 0.8770
AUD/USD: Short at 0.9275 with a target of 0.9136 and a stop at 0.9325
USD/CAD: Sell at 1.0986 with a target of 1.0858 and a stop at 1.1036
http://www.fxbazooka.com/upload/tiny/Analytics/138.jpg
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Market News
April 30: Asian session
http://www.fxbazooka.com/upload/tiny/News/asian1.png
Asian markets traded mixed on Wednesday with the MSCI Asia Pacific index staying almost unchanged. Investors remain cautious before the FOMC monetary policy decision announcement in the US session and the US jobs data on Friday. Continuing tension in Ukraine continues weighting on the risk appetite.
USD/JPY slipped to 102.30. Yen strengthened as the Bank of Japan left monetary policy unchanged in line with the expectations. Bank’s CPI target remains on track, while the 2014 GDP forecast was downgraded from +1.4% to 1.1%. Japan industrial production came below the expectations. Nikkei 225 index added 0.11%.
Commodity currencies found buyers in the Asian session. AUD/USD strengthened to $0.9290, but still trades in the descending channel. NZD/USD touched $0.8875 earlier in the session and is now consolidating a little lower. Gold trades under pressure around $1292.5.
EUR/USD extends the yesterday’s drop, testing the $1.3800 support to the downside. GBP/USD is trading in the red, but holds slightly above the $1.6800 mark. Monday peak of $1.6855 remains unbeaten.
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