September 2017

USDJPY – Down Technical Observation: Earlier this week, there was an attempt break below the lower trend line, but the price could not sustain this break below. Instead, the price rallied even higher and ended up above this trend line, this is a bullis…

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EURUSD – Up Technical Observation: Recently, a false breakout was seen when price broke out above the resistance zone 1.1923 but closed below it just before the end of the trading day. Unless the price breaks out again above 1.1923 with a big green c…

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How ECB press conference will affect Forex?Dear traders,

European Central Bank (ECB) conducts monthly press conferences. Market participants always wait for this event with great interest because it frequently causes high volatility.

This month ECB press conference will be held on September 7th at 12.30 noon GMT. Leading FreshForex analyst Catherine Main tells what to expect from the conference:

“Now Eurozone is experiencing rapid inflation rate growth, for this reason Mario Draghi may make several statements regarding reversal of Quantitative Easing (QE) program. Trading signals for Thursday: buy EUR/USD, EUR/JPY, EUR/GBP.”

FreshForex experts provide reliable forecasts. Monitor closely the situation on market together with FreshForecasts and earn on the key economic events!

How ECB press conference will affect Forex?

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FreshForex Opens up New Horizons for its Clients offering MetaTrader 5!Dear traders,

FreshForex always keeps up to date and brings in the latest technologies and the most popular services!

Out of desire to fulfill the commitment of providing the best trading conditions possible for our clients, along with MetaTrader 4 we now offer the new generation multi-asset platform MetaTrader 5.

In comparison with MetaTrader 4, the new generation trading platform MetaTrader 5 has a number of advantages, here are some of them:

Increased number of timeframes, graphical objects and technical indicators;
New types of pending orders: buy/sell stop limit;
Depth of the market option: information on history of quotes and charts;
Powerful strategy tester;
MQL5 Master that allows to quickly generate trading robot code;
Built-in economic calendar.

 

Besides, with MT5 clients still have the opportunity to use locking positions option.

Download MetaTrader 5 right away and estimate extended and improved functionality of the new generation platform!

FreshForex Opens up New Horizons for its Clients offering MetaTrader 5!

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Gold Weekly Review

Gold Weekly Review

Wave Analysis:

On Thursday last week, the daily candle opened at 1308.78, went as low as 1300.62, and as high as 1323.62 but ended up closing at 1324.31 1400 pips above its opening. This was a perfect bullish engulfing candle closing above a key zone resistance zone 1308.49-1300.80, We’re waiting for an attempt pullback to this zone to pick a low risk buy opportunity with an ideal target at 1370.  In the meantime, we’re waiting for the inner wave (v) or the larger impulsive wave (3) to continue slightly to the upper side, then we”ll buy the impulsive wave (5) after the end of the corrective wave (4). This pair will have a similar wave count with Silver, these two commodities have a strong positive correlation of up to +78% and will move in the same direction during this intraday.
Trade Recommendations:
Wait for a correction towards 1308.49-1300.8 then buy gold with an ideal target at 1370.
Brent Weekly Review
Gold Weekly Review

Wave Analysis:

 

For the previous one and half months, the impulsive wave (c) has traded on the higher ranges and is still pretty much bullish both on the daily and the weekly charts. On Thursday last week, this commodity went above a key daily resistance level 56.69, an attempt to go below it the following day failed, instead the Friday’s candle is an inside bar falling within the Thursday’s candle. This is a possible bullish indication and could mean, this week, the impulsive wave (c) could extend further to the upper side with the first target at 57.47 and the next target at 68.83. In the meantime, we anticipated a possible bearish correction towards the lower trend line to re buy this commodity towards 54.47.
Trade Recommendations:
Look for a but signal above 56.69 with a target at 57.47.
SP500 Buy Signal
Gold Weekly Review

Wave Analysis

For five days in a raw, Standard Poor’s 500 rose massively but could not make any fresh weekly highs. We expect this upward rally to be a mere corrective wave count and should not go beyond 2481.4 from where we’ll be looking to sell the impulsive wave (c) with a target at 2429.00. This is from a corrective point of view, but should the price rise above 2481.4, we’ll wait for a break above 2492.3 to confirm a possible bullish wave count towards 2500.0. If 2500 is broken, then the price could rise even further with an ultimate target at 2600. This index should be traded alongside other indices, and has a strange positive  “Technical correlation to Bitcoin”. Both seems to have a constant rising mode.
Trade Recommendation:
Flat temporarily 
 
 

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French Stock Market Index
Sell French Stock Market Index

Technical Observation:

For an extended duration of time now, almost 53 weeks now, The French Stock Market Index has been rallying  within a falling wedge formation. Averagely , this index has been in a downtrend and could plummet even further,  last week,  Tuesday’s candle sent it’s tail towards the lower trend line but got rejected. The index then rose and is currently approaching the upper trend line acting as the resistance to to the falling wedge. I’m patiently waiting for a rejection from this trend line to short this index towards 4976.5

Resistance lines
R1: 5423.6
R2: 5329.2
R3: 4594.2
Pivot Lines
5123.5
Support lines
S2:4974.2
S2:4762.3
S3:4347.2
Trade Signal
Short CAC40 now with a take profit at 4976.5.
Silver Buy Signal
Sell French Stock Market Index

Technical Observation

As I said on the previous analysis, Silver rose tremendously but is currently approaching a key resistance line 17.72. This is a key daily resistance line and will require a great for to break above, thus, unless this line is clearly breached to the upper side with a big green candle, this commodity could get rejected from this line. From the previous data, this index has been in an uptrend, and bulls could still be in control, and if the price rise above 17.72, then I’ll wait for a pullback to the just broken line to pick a long position towards 18.59

Technical Levels
Resistance Lines:
R1: 17.72
R2: 16.92
R3: 18.57
Pivot lines
17.15
Support Lines
S1: 16.90
S2: 16.25
S3: 15.51
Trade Signal
Wait for a breakout above 17.72 to buy Silver towards 18.59.
Platinum Buy Signal
Sell French Stock Market Index
Technical Observation:
Last week, Platinum broke out above a resistance  line 987.40, retraced back to it but could not penetrate below. This was the first retracement to the just broken line, I’m waiting for a second retracement to this line to pick a long position with my take profit at the next resistance 1028.55. If this resistance is broken, then I’ll wait for a retracement to the just broken line to pick a second buy trade with my take profit set at 1069.30. According to the daily chart above, long positions seems more ideal and can safely be recommended especially while the price is above
Technical Levels
Resistance lines
R1: 1043.21
R2: 1028.75
R3: 997.15
Pivot Lines
1005.00
Support lines
S2:958.57
S3:897.06
Trade Signal
Wait and buy XPTUSD around 987.4 with you take profit at 1028.55.
 

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FreshForex: Change in Trading Hours on September 4thDear clients,

Please note that due to Labor Day celebrations in USA on September 4th, 2017 trading hours for some instruments will be changed.

Trading Hours:

 

Trading Instruments
Trading Hours
September 4th
Monday
Forex
Regular hours
CFD on precious metals
Early close at 8 p.m. EEST
CFD on energy commodities
Early close at 7:30 p.m. EEST
CFD on indexes #DAX30, #ESTX50, #CAC40, #FTSE100, #HSI, #ASX, #IBEX35
Regular hours
CFD on indexes #DJI30, #NIKKEI, #SP500, #NQ100
Early close at 8 p.m. EEST
CFD on shares NYSE, NASDAQ, including TF_ITBIZ16, TF_WWWBIZ16
Closed
CFD on shares MICEX, including TF_RUSBIZ16
Regular hours 

*EEST – Eastern European Summer Time corresponding to UTC+3 (company’s trading server time zone).  

Starting from September 5th, 2017 trading returns to regular trading hours. 

Please consider this information when planning the trade on financial markets. 

Company reserves the right to suspend the trades if the instrument liquidity decreases.

 

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