NordFX

[tavaNordFX]

Here are step-by-step instructions on how to open a Real trading account with nordFX :

 

1. Open the link : NordFX

 

2. Press “Open Account” button.

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3. Fill all the form :

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Account type: different accounts = different trading conditions and initial deposit.

You may start from Micro account with only $5 deposit.

Leverage: it’s like a credit, when you are able to work not only with the amount that you have, but 100 times bigger (if 1:100). provided Up to 1:500

First and last name: fill in the form only with real data because you should be able to confirm it.

E-mail: Enter your real e-mail address, access to your account will be sent there.

Country, City, Address, Phone: also should be filled in with real information

Auto-submit prevention: enter numbers from capcha and tick the checkbox (don’t forget to look through the Client Agreement before trading).

 

Press “Submit”.

 

4. Next page will show you all details of your account. Don’t forget to save or copy them to your computer. It’s also sent to your e-mail. PIN-Code just show once here and didn’t send to your mail.

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5. Log in to Your Trader Cabinet.

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6. Verify Your Account by “Upload Document” menu.

 

7. Make Deposit with “Fund Deposit” Menu.

 

8. Start Your Trading.

9. Good Luck.

[tavaNordFX]

NordFX provided very good service with stable server, Instant execution, Pending order always open without slippage during news, deposit by Online payment system are Instant, Deposit with Credit Card (Visa/Master Card) also process Instant. Withdrawal Less then 6 hours, average 2 hours.

 

Trade in NordFX with fully satisfied quality services and server.

 

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Company registration: Nord Group Investments Inc., (reg.# 082831 C1/GBL), Mauritius

 

Regulation: FSC of Mauritius (license ? C108006311), IFSC Belize.

[tavaNordFX]

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Participation is free of charge.

Real prize money!

10 prize places!

And 10 consolation prizes.

 

Each contest lasts 2 weeks.

 

Start: 04.05.2015 00:00 (server time)

Finish: 15.05.2015 22:00 (server time)

 

Why wait? Register a contest account now!

 

 

More Info : DEMOCUP NordFX

[tavaNordFX]

Generalized Forex Forecast for 4-8 May 2015

 

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First, a few words regarding last week痴 forecast:

 

• the forecast for EUR/USD was fulfilled by exactly 50%. As promised, at the start of the week the pair strived to the top boundary of the corridor, which was defined by the highs of March and April. However, after that, instead of rebounding and going downwards, the pair rushed further upwards and reached the level of February;
  
• GBP/USD was much more docile ・it was rising for the first few days of the week but towards the end, as predicted, it rapidly rolled downwards and finished the five days where it had taken off;
  
• USD/JPY was predicted to continue its sideways trend and rise to around 120.80-122.00, which happened with 100% accuracy. The pair痴 sideways movement with a 120.28 high is clearly seen on the H4 and D1 charts;
  
• on the contrary, the analysts・forecast for USD/CHF turned out to be 100% inaccurate. The pair was expected to mirror the movements of EUR/USD and it did. Precisely due to this, USD/CHF went downwards, reaching the level of February just like EUR/USD.

 

Now about the forecast for the coming week. Generalizing in a table the opinions of 35 analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, it can be suggested that:

 

• the EUR/USD pair will be in a sideways trend with fluctuations in the range of 1.1100-1.1430, although the pair may fall to 1.0800, returning to the low of last week;
  
• the majority of the analysts think that GBP/USD will also be in a sideways trend in the boundaries from 1.5000 to 1.5300. This forecast is supported by the discordance in the indicator readings;
  
• like last week, most of the analysts and 82% of the indicators presume that USD/JPY will try to consolidate in the range of 120.00-122.00, the high for the coming five days being at 121.50. On the other hand, 8% of the analysts predict a sharp rebound downwards and a fall to the level of 117.00;
  
• finally, USD/CHF is most likely to take after EUR/USD, same as last week. If the latter moves downwards, USD/CHF, mirroring EUR/USD, will go upwards to 0.9500. With this, if you calculate the mean maximum and minimum based on all the forecasts, the pair should finish the next week exactly at the same level it had started, i.e. at 0.9335.
  

 

 

Roman Butko, NordFX

[tavaNordFX]

NordFX website contains a lot of information covering almost all aspects of trading - www.nordfx.com.

 

Monitoring room is a great place where members can see some registered account for monitoring on the trade in real time. You also can use Demo Account and Demo Contest Account to learn more about NordFX Service and server trading platform.

 

Join NordFX Now!!!

[Julia NordFX]

05.05.2015 06:40 GMT

 

A Slight Hike on Markets

 

On Monday, the world’s financial markets closed mainly on the rise, with the exception of the commodity market where the price of oil dropped a little.

 

In Europe as such, the British FTSE 100 grew 0.36 percent to 6985.95 points on Friday. On Monday, there was no trading on the London exchange due to a holiday. Also on Monday, the German DAX 30 advanced 1.57 percent up to 11,634.34 points, and the French CAC 40 gained 0.84 percent reaching 5,088.82 points.

 

European investors’ sentiment was influenced by the news about an interim agreement between Greece and its lenders.

 

The Russian market was closed for May Day holidays on Monday.

 

In the USA, the Dow Jones grew 0.26 percent to 18,070.40 points, the S&P 500 gained 0.29 percent up to 2,114.49 points, and the NASDAQ added 0.23 percent getting to 5,016.93 points.

 

Oil prices, however, posted a slight drop yesterday. The NYMEX price of WTI oil futures for June went down by $0.22 and reached $58.93 a barrel. On London’s ICE, the cost of Brent oil futures for June delivery was down by $0.01 ending up at $66.45 a barrel.

 

On the Forex market, EUR/USD is returning to the breakthrough point in the double bottom pattern on the daily chart. The pair may start moving up again from 1.0970.

 

Anna Gorenkova

NordFX Analyst

[tavaNordFX]

NordFX gives you the best advantage over all.

 

An account registration is fast and easy, the minimum initial deposit is only $ 5 required to open Micro account trading, a wide choice of depositing methods (Wire Transfer, Local Bank and online payment), several types of trading accounts in accordance with the level of your ability from beginner to professionals, minimum spread, the ability to trade a variety of instruments, Company mobility, and of course a huge selection of platforms that can be used for trading.

 

Join with NordFX Now !!!

[tavaNordFX]

Standard-MT5 NordFX

 

 

"Standard-MT5" account supply experienced traders with best trading terms and full range of trading instruments through the newest trading platform MetaTrader 5 . Tight dynamic spreads, quality quotes and fast execution as a result of multiply liquidity providers usage for successful trading. The technology of immediate hedging every client's position helps to allow any trading strategy.

 

Trading Condition :

 

• $50 minimum deposit;
  
• 37 currency pairs;
  
• Dynamic spread from 1 pips;
  
• Leverage up to 1:200;
  
• Minimal lot 0.1;
  
• Maximum lot 50, step 0.1;
  
• Maximum volume of positions - no limits;
  
• Maximum number of open positions and pending orders - no limits;
  
• Automatic trading is allowed;
  
• No trading limits;
  
• Level of margin call /stop out 40%/20%*
  

 

Open Your Account Now!!!

[Julia NordFX]

06.05.2015 07:30 GMT

 

Russian Equity Gains Due to Oil Price Rise Over Holidays

 

Yesterday world financial markets closed mixed. European indices posted a drop – Britain’s FTSE 100 fell 0.84 percent to 6,927.58 points, Germany’s DAX slumped 2.51 percent down to 11,327.68 points, and France’s CAC 40 dropped 2.12 percent down to 4,974.07 points.

 

At the same time, Russia’s equity soared up, taking a cue from rising oil prices and ruble strengthening over the holidays. Thus, the MICEX index advanced 1.98 percent up to 1,721.80 points while the RTS index shot up by 4.24 percent altogether and reached 1,072.93 points.

 

In the USA, the Dow Jones fell 0.79 percent to 17,928.20 points, the S&P 500 shed 1.18 percent down to 2,089.46 points, and the NASDAQ dropped 1.55 percent down to 4,939.33 points.

 

On the NYMEX, the price of June futures for WTI oil rose by $1.47 and made $60.40 a barrel. On London’s ICE, the June future for oil of mark Brent went up by $1.07 and reached $67.52 a barrel.

 

Yesterday on the global currency market, the euro gained ground against the dollar. Today EUR/USD continues to go up. In case the chart pattern is completed, the pair can get to 1.14.

 

Anna Gorenkova

NordFX Analyst

[tavaNordFX]

NordFX now open an opportunity to Deposit and Withdrawal in Indonesian Rupiah (IDR). This give Indonesian traders more easy for Local Deposit with NordFX and FasaPay.

 

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How does it work?

• Open a FasaPay account

• Make a deposit into your FasaPay account

• Fund your trading account via FasaPay in the NordFX Trader’s Cabinet

• Instant process, once deposit process completed the funds direct available in your NordFX account.

 

Open your Account Now!!!

[tavaNordFX]

Protection Account NordFX via SMS-Codes

 

This option allows you to secure your funds.If turned on, then for any withdrawal transaction to confirmed by a special code, which is delivered by SMS. By default is turned off.

 

To turn on, please login to Trader Cabinet then fill all field :

 

Phone for SMS :

PIN-code :

 

Check in the box : Turn on additional checks through an SMS message in the withdrawals of funds.

 

 

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[tavaNordFX]

How does Partner working on NordFX ?

 

Client attracted by Partner opens trading account, deposits it and starts trading. Commission is automatically credited to Partner's account after transaction is closed. Commission becomes immediately available.

 

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The size of Partner commission directly depends on trades size as well as on their number. The bigger trading volumes your clients have (and the more active your clients are), the more you earn!

 

More Info here >>>

[Julia NordFX]

08.05.2015 07:30 GMT

 

EUR/USD Is Correcting

 

Yesterday world financial markets posted mixed results again. In Europe, the FTSE 100 fell 0.67 percent to 6,886.95 points, the DAX grew 0.51 percent to 11,407.97 points while the САС 40 shed 0.29 percent down to 4,967.22 points.

 

Russia’s indices went down following oil prices – the MICEX index dropped 1.59 percent to 1,686.98 points, and the RTS index fell 0.51 percent to 1,060.73 points.

 

In the USA, the Dow Jones added 0.46 percent making 17,924.06 points, the S&P 500 grew 0.38 percent to 2,088 points, and the NASDAQ advanced 0.53 percent up to 4,945.54 points.

 

Thursday evening oil prices went down. The NYMEX price of WTI oil futures for June dropped by $1.71 and reached $56.59 a barrel. On London’s ICE, the price of the Brent oil future for June was down by $2.03 and got to $65.74 a barrel.

 

On the global currency market, EUR/USD was slightly short of the 1.14 target and is experiencing a downward correction. Nonetheless, in case of favorable macroeconomic data, the pair may reach 1.1470.

 

Anna Gorenkova

NordFX Analyst

[Julia NordFX]

GENERALIZED FOREX FORECAST FOR 11 – 15 MAY 2015

«BINGO!” AND BLACK BEARS

 

As usual, first a few words regarding last week’s forecast:

- for the EUR/USD pair the forecast was fulfilled by no less than 100%. We supposed that the EUR/USD pair would experience a sideways trend and a possible descent to the 1.0800 mark. This is what actually ended up happening, as on Tuesday the pair fell into the 1.0700÷1.0850 zone and stayed there for approximately one hour before determinedly rising in order to finish the week at exactly the same mark as the mark it started from;

- the GBP/USD pair was strictly abiding by our “guidelines” of a sideways move all week until Thursday evening, maintaining an even narrower range than we originally supposed. However, this was followed by the announcement of the British election results, which surprised not only politicians but also financiers, resulting in the pair soaring up by more than 200 points

- Regarding the USD/JPY pair, the majority of both analysts and indicators asserted that the pair would keep strengthening in the area above 120.00. On the other hand, a rather tight-numbered opposition was foretelling a rapid downwards rebound. The result was that both groups proved to be right, as at the start of the week “bulls” were propping the pair up, not letting it fall below the arranged 120.00 line. However, they then weakened and passed on their influence to the “bears”. Zoologists claim that Japanese black bears prefer steep mountainous terrain, which, judging by the way the pair impetuously descended, is hard to disagree with. However, by the end of the week, the pair once again climbed upwards, returning to the 119.70 point, which it has been fluctuating about since the end of March.

- The USD/CHF forecast maintained that the pair would continue following in the wake of EUR/USD, acting as a mirror image of its “older sister”. Therefore, , looking at last week’s charts we can now shout “Bingo!”, since the forecast proved to be 100% accurate.

***

Now on to the forecast for the upcoming week. Aggregating the opinions of 35 analysts from the world’s leading banks and brokerage firms, as well as forecasts, which were based on an extremely diverse range of technical and graphical analytical methods, we can presume that:

- The EUR/USD pair will most likely continue occupying a sideways trend with fluctuations about the 1.1230 mark. At the very least, this is the conclusion we arrived at after looking at the neat split between expert opinions: ↑ - 22%, → - 3%, ↓- 19%, ↔ (raised hands) – 56%. A similar situation occurs with indicator showings: ↑ - 35%, → - 17%, ↓- 48%. The main levels of support 1.1060, 1.0850 and 1.0650, whilst the main levels of resistance are 1.1290 and 1.1440;

- For the GBP/USD pair an absolute majority of indicators (87%. ) on both H4 and D1 foretell growth. Analysts’ opinions, however, diverge (↑ - 25%, → - 9%, ↓- 22%, ↔ – 44%. ). Since the pair has already reached quite a high level of 1.5600, there exists a significant probability that the pair will attempt to barge through the resistance and settle in the 1.5475÷1.5785 zone. However, a failure to do so and an ensuing descent to the 1.5000 support level can also be predicted with a similarly high probability.

- As for the USD/JPY pair, expert opinions and indicator predictions also diverge (experts: ↑ - 7%, → - 22%, ↓- 26%, ↔ – 45%, indicators: ↑ - 60%, → - 17%, ↓- 23%. ). However, both are satisfied with a Pivot Point level of 119.70, support at the 119.20, 188.75 and 119.20 levels and resistance at 120.05, 120.30 и 120.85;

- Regarding the near future of the USD/CHF pair, however, both analysts and indicators are in harmony: more than 75% of the former and 56% of the latter agree that the pair should rise and settle in the 0.9300÷0.9400 corridor. The next support level is 0.9190 and the next resistance level is 0.9500.

 

Roman Butko, NordFX

[tavaNordFX]

Generalized Forex Forecast for 11-15 May 2015

 

First, let’s review last week’s forecast:

 

• the forecast EUR/USD was fulfilled 100%. The pair was predicted to stay in a sideways trend, with a possible descent to 1.0800. As it happened, on Tuesday the pair fell to around 1.0700-1.0850, remained there for about an hour and then went up in order to finish the week at the point it had started from;
  
• the GBP/USD pair was sticking to the predictions about a sideways trend all the way till Thursday evening, maintaining an even narrower range than was expected initially. However, this was followed by the announcement of the UK election results, which surprised both politicians and financiers. As a consequence, the pair soared up by over 200 points;
  
• most analysts and indicators asserted that the USD/JPY pair would try to consolidate in the area above 120.00. On the other hand, a rather small group foretold a rapid downwards rebound. In fact, both groups proved to be right. At the start of the week, the bulls were propping the pair up, not letting it fall below 120.00. However, they then weakened, and the bears took over. Nonetheless, by the end of the week, the pair once again climbed upwards, back to 119.70, which it has been fluctuating around since the end of March;
  
• the forecast for USD/CHF was that the pair would continue to mirror EUR/USD. Judging by last week’s chart, the forecast proved to be 100% accurate.

 

Now on to the forecast for the upcoming week. Summarizing the opinions of 35 analysts from leading banks and broker companies as well as forecasts based on diverse technical and graphical methods of analysis, the following can be suggested:

 

• EUR/USD is likely to remain in its sideways trend, fluctuating along 1.1230. At the very least, the can be concluded as you look at the neat split among the experts’ opinions: ↑ - 22%, → - 3%, ↓- 19%, ↔ (at a loss) - 56%. The indicator readings are not much different: ↑ - 35%, → - 17%, ↓- 48%. The main support levels are 1.1060, 1.0850 and 1.0650, and the main resistance levels are 1.1290 and 1.1440;
  
• the vast majority of the indicators (87%) on H4 and D1 foretell growth for GBP/USD. The analysts differ: ↑ - 25%, → - 9%, ↓- 22%, ↔ - 44%. As the pair has almost reached a high level of 1.5600, it’s quite likely to try and break through the resistance and settle in the range of 1.5475-1.5785. At the same time, there’re good chances that the pair will fail to do so and will actually start moving down to the 1.5000 support level;
  
• the forecasts of the analysts and the indicators regarding USD/JPY also differ (experts: ↑ - 7%, → - 22%, ↓- 26%, ↔ - 45%; indicators: ↑ - 60%, → - 17%, ↓- 23% ). However, both groups agree on the Pivot Point being at 119.70. Support will be at 119.20, 188.75 and 119.20, with resistance at 120.05, 120.30 and 120.85;
  
• there’s concord among the analysts and indicators about USD/CHF – over 75% and 56% respectively suggest that the pair should rise and consolidate in the range of 0.9300-0.9400. The next support level is 0.9190, and the next resistance level is 0.9500.
  

 

 

Roman Butko, NordFX

[tavaNordFX]

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Because NordFX have the best trading condition, Fast and stable server, profesional support and always keeps abreast of modern technology, regularly expands the range of trade currencies and financial instruments and uses up-to-date software.

[markjacks]

I'll try this one out. So far, everything else seemed to look promising.

[tavaNordFX]

NordFX gives you the best advantage over all.

 

An account registration is fast and easy, the minimum initial deposit is only $ 5 required to open Micro account trading, a wide choice of depositing methods (Wire Transfer, Local Bank and online payment), several types of trading accounts in accordance with the level of your ability from beginner to professionals, minimum spread, the ability to trade a variety of instruments, Company mobility, and of course a huge selection of platforms that can be used for trading.

 

Join with NordFX Now !!!

[Julia NordFX]

13.05.2015 08:10 GMT

 

Drop in European Equity Due to Greek Situation

 

Yesterday world financial markets closed mixed. In particular, European stock markets slumped following the interim meeting of the Eurogroup and the Greek government. According to media reports, both parties still couldn’t reach an agreement on key issues. In this light, the FTSE 100 fell 1.37 percent to 6,933.80 points, the DAX dropped 1.72 percent to 11,472.41 points, and the CAC 40 shed 1.06 percent down to 4,974.65 points.

 

On Russia’s stock market, the MICEX index fell 0.23 percent to 1,704.62 points whereas the RTS index grew 1.01 percent finishing the trading session at 1,070.19 points.

 

In the USA, the Dow Jones declined by 0.2 percent to 18,068.23 points, the S&P 500 shed 0.29 percent down to 2,099.12 points, and the NASDAQ fell 0.35 percent down 4,976.19 points.

 

Oil prices posted a rise, however. On the NYMEX, the price of WTI oil futures for June went up by $1.5 and made $60.75 a barrel. On London’s ICE, the Brent oil future for June rose by $1.95 and reached $66.86 a barrel.

 

On the Forex market, EUR/USD is experiencing some correction at this point. Nevertheless, the prospects of moving up to 1.1470 still remain.

 

Anna Gorenkova

NordFX Analyst

[Julia NordFX]

14.05.2015 07:40 GMT

 

Euro Began to Go Up

 

Yesterday the world’s financial markets closed mainly on the decline. In Europe, the FTSE 100 grew 0.23 percent to 6,949.63 points, the DAX dropped 1.05 percent down to 11,351.46 points, and the CAC 40 fell 0.26 percent to 4,961.86 points.

 

In Russia, the MICEX index shed 1.31 percent down to 1,682.26 points while the RTS index advanced 1.12 percent up to 1,082.21 points.

 

In the United States, the Dow Jones fell 0.04 percent to 18,060.49 points, the S&P 500 shed 0.03 percent down to 2,098.48 points whereas the NASDAQ added 0.11 percent making 4,981.69 points.

 

Oil prices also went down yesterday. The NYMEX price of WTI oil futures for June dropped by $0.25 and reached $60.50 a barrel. On London’s ICE, the cost of Brent oil futures for June delivery was down by $0.05 and made $66.81 a barrel.

 

On the Forex market, EUR/USD went up and is moving towards the afore-mentioned target of 1.1470.

 

Anna Gorenkova

NordFX Analyst

[tavaNordFX]

Premium account NordFX

 

The Company NordFX offers you an opportunity to get Premium status.

 

Premium clients are provided with:

• Complimentary debit card for quick and convenient funds withdrawal;
  
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To get Premium status you should open trading account with deposit more than 50000 USD.

To receive more detailed information apply to the manager of the Premium program [email protected]

 

Open Account

[Julia NordFX]

Generalized Forex Forecast for 18-22 May 2015

 

Let us start with a few words about the forecast for last week, which turned out to be quite accurate overall:

- the prediction for EUR/USD was that most probably the pair would stay in a sideways trend with fluctuations around the line of 1.1230, which did happen in fact. At first, EUR/USD went downwards, then returned to its Pivot Point, after which the bulls gained strength and began to persistently push the pair towards the upper boundary of the corridor. The level of 1.1440 was set as the final bastion of resistance, and the pair tried to break through it all Friday long. However, it failed and finished the five days in this very zone;

- one of the possibilities for GBP/USD was breaking through the resistance level of 1.5600, which was also supported by 87% of the indicators. The breakthrough happened already on Tuesday, and then the pair tried several times to rise above the upper boundary of the corridor – 1.5785. It didn’t succeed, though, and so settled down finishing at 1.5727;

- the Pivot Point for USD/JPY was set at 119.70, which was confirmed – the pair crossed it twice during the week, having stayed exactly in the average values of the specified corridor 118.75-120.30;

- USD/CHF turned out to be the only pair regarding which both analysts and indicators were only partly right. At first, everything seemed to go as planned – the pair began to grow and tried to consolidate above 0.9300. However, on Tuesday, in a powerful spurt, the pair broke through the support line and went down sharply to the low of a week ago.

 

***

 

Now regarding the forecast for the coming week. Generalizing the opinions of 35 analysts from world leading banks and broker companies, as well as forecasts based on different methods of technical and graphical analysis, we can note the surprising unanimity of the analysts who predict growth for all four pairs. Such forecasts always raise strong suspicions because some of the pairs are generally characterized by multi-directional rather than direct correlation:

- for EUR/USD the opinions of the experts are as follows: ↑ – 40%, → – 3%, ↓ – 6%, ↔ (at a loss) – 51%. The indicators provide similar readings: ↑ – 83%, → – 17%, ↓ – 0%. However, graphical analysis shows that the pair has almost completed the Inverted Hat pattern and has to form just the second brim of the hat. Thus, it can be assumed that this week EUR/USD will hold in a sideways corridor of 1.1070-1.1530, and, after a small rise, the pair is expected to have a relatively strong rebound downwards;

- the D1 chart clearly shows that GBP/USD has reached the upper boundary of the corridor (1.5800) where it stayed for a month and a half at the end of last year. The pair is very likely to linger in the range of 1.5500-1.5815 for some time again. Therefore, despite the vast majority of the analysts and 91% of the indicators pointing to growth, one can expect prevailing bearish tendencies and the pair’s rebound downwards;

- the opinions of the experts and the readings of the indicators for USD/JPY diverge (the experts: ↑ – 42%, → – 3%, ↓ – 3%, ↔ – 52%; the indicators: ↑ – 26%, → – 4%, ↓ – 70%). Hence, the level of 119.40, at which the pair finished the previous five days, can be considered as a Pivot Point, and the readings of the indicators on the H1 timeframe and smaller can give further guidance. Support will at 119.20, 118.90, 118.75 and 118.50; resistance – 119.60, 119.90, 120.00 and 120.30;

- as for the near future of USD/CHF, the data for both analysts and indicators are similar to USD/JPY (the experts: ↑ – 40%, → – 6%, ↓ – 4%, ↔ – 50%; the indicators: ↑ – 17%, → – 9%, ↓ – 74%). At the same time, as USD/CHF is in an inverse correlation with EUR/USD, it may go up at least to around 0.9290-0.9380. In the case this forecast is not fulfilled, the support levels will be 0.9110, 0.9075 and 0.8980, resistance – 0.9500.

 

Roman Butko, NordFX

[tavaNordFX]

Generalized Forex Forecast for 18-22 May 2015

 

Let us start with a few words about the forecast for last week, which turned out to be quite accurate overall:

• the prediction for EUR/USD was that most probably the pair would stay in a sideways trend with fluctuations around the line of 1.1230, which did happen in fact. At first, EUR/USD went downwards, then returned to its Pivot Point, after which the bulls gained strength and began to persistently push the pair towards the upper boundary of the corridor. The level of 1.1440 was set as the final bastion of resistance, and the pair tried to break through it all Friday long. However, it failed and finished the five days in this very zone;
  
• one of the possibilities for GBP/USD was breaking through the resistance level of 1.5600, which was also supported by 87% of the indicators. The breakthrough happened already on Tuesday, and then the pair tried several times to rise above the upper boundary of the corridor – 1.5785. It didn’t succeed, though, and so settled down finishing at 1.5727;
  
• the Pivot Point for USD/JPY was set at 119.70, which was confirmed – the pair crossed it twice during the week, having stayed exactly in the average values of the specified corridor 118.75-120.30;
  
• USD/CHF turned out to be the only pair regarding which both analysts and indicators were only partly right. At first, everything seemed to go as planned – the pair began to grow and tried to consolidate above 0.9300. However, on Tuesday, in a powerful spurt, the pair broke through the support line and went down sharply to the low of a week ago.
  

 

Now regarding the forecast for the coming week. Generalizing the opinions of 35 analysts from world leading banks and broker companies, as well as forecasts based on different methods of technical and graphical analysis, we can note the surprising unanimity of the analysts who predict growth for all four pairs. Such forecasts always raise strong suspicions because some of the pairs are generally characterized by multi-directional rather than direct correlation:

• for EUR/USD the opinions of the experts are as follows: ↑ – 40%, → – 3%, ↓ – 6%, ↔ (at a loss) – 51%. The indicators provide similar readings: ↑ – 83%, → – 17%, ↓ – 0%. However, graphical analysis shows that the pair has almost completed the Inverted Hat pattern and has to form just the second brim of the hat. Thus, it can be assumed that this week EUR/USD will hold in a sideways corridor of 1.1070-1.1530, and, after a small rise, the pair is expected to have a relatively strong rebound downwards;
  
• the D1 chart clearly shows that GBP/USD has reached the upper boundary of the corridor (1.5800) where it stayed for a month and a half at the end of last year. The pair is very likely to linger in the range of 1.5500-1.5815 for some time again. Therefore, despite the vast majority of the analysts and 91% of the indicators pointing to growth, one can expect prevailing bearish tendencies and the pair’s rebound downwards;
  
• the opinions of the experts and the readings of the indicators for USD/JPY diverge (the experts: ↑ – 42%, → – 3%, ↓ – 3%, ↔ – 52%; the indicators: ↑ – 26%, → – 4%, ↓ – 70%). Hence, the level of 119.40, at which the pair finished the previous five days, can be considered as a Pivot Point, and the readings of the indicators on the H1 timeframe and smaller can give further guidance. Support will at 119.20, 118.90, 118.75 and 118.50; resistance – 119.60, 119.90, 120.00 and 120.30;
  
• as for the near future of USD/CHF, the data for both analysts and indicators are similar to USD/JPY (the experts: ↑ – 40%, → – 6%, ↓ – 4%, ↔ – 50%; the indicators: ↑ – 17%, → – 9%, ↓ – 74%). At the same time, as USD/CHF is in an inverse correlation with EUR/USD, it may go up at least to around 0.9290-0.9380. In the case this forecast is not fulfilled, the support levels will be 0.9110, 0.9075 and 0.8980, resistance – 0.9500.
  

 

Roman Butko, NordFX

[Julia NordFX]

18.05.2015 07:10 GMT

Euro Reached Its Target Level

 

Last Friday European markets closed in the red whereas Russian and US markets posted a rise.

 

In Europe, the British FTSE 100 fell 0.18 percent to 6,960.49 points, the German DAX dropped 0.98 percent down to 11,447.03 points, and the French CAC 40 shed 0.71 percent down to 4,993.82 points.

 

In Russia, due to corporate reports and strengthening of the ruble, the MICEX index grew 0.8 percent to 1,691.05 points, and the RTS index gained 0.86 percent going up to 1,063.94 points.

 

In the USA, the Dow Jones added 0.11 percent making 18,272.56 points, the S&P 500 grew 0.08 up to 2,122.73 points while the NASDAQ fell 0.05 percent to 5,048.29 points.

 

The NYMEX price of WTI oil futures for June dropped by $0.19 and got to $59.69 a barrel. On London’s ICE, the June future for oil of mark Brent went up by $0.11 and made $66.81 a barrel.

 

On the global currency market, EUR/USD has almost reached the earlier mentioned target of 1.1470 (just short of a couple of points). Now the pair is facing quite a big obstacle – the long-term MA on the daily chart and horizontal resistance at 1.1476. The pair may experience a considerable correction here and even roll back to 1.12.

 

Anna Gorenkova

NordFX Analyst

[tavaNordFX]

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