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[Volkov Yuriy]

“Europeans” can undergo downward correction
EUR/USD


Monthly chart: so, bulls have formed a pinbar, whereof they seemed to guarantee themselves mid-range outlook for growth to 1.4260. Nevertheless, our main review indicator ADX went down, which predetermines either monthly bounce down (or to 50% of pin in the area of 1.3440) or a deeper correction to the area of Bollinger medium band (1.3106). This plan is described by a red arrow.


Upon that, this ADX position can lead to even a more profitable bearish line: it is a touch of 1.3834 and an active move down, to continue accumulation of volumes in a giant triangle range.

Alternative option in this case is a dash upwards, for the 1.4285 point. This plan can only be considered in the position above 1.3834.

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[Volkov Yuriy]

No surprises should be expected from EuCB
Review of the past week


Quotes of major currency pairs continued its emergence in the past week as well. According to results of the week, USDX index lost 0,2% and the largest loss was received by US currency against British pound.


Euro zone provided mixed statistics. Negative data on German labor market and retails were changed by moderately positive inflation and unemployment reports in Euro zone. Weak report on US consumer confidence CB showed the lowest values for the last 7 months and along with decline in durable goods orders figure supported demand in European currency. Eur/Usd closed trading week near to 36. Upon overcoming strong resistance level 1.6260, British currency accelerated its growth. Investors were encouraged by growth of consumer spending index, which is a crucial part of the economy, as well as by the comments of Bank of England Governor Mark Carney told about withdrawal of support package for mortgage lending as from January, 2014. He also stated that improvements in Euro zone are required to continue growth of the UK economy and internal demand solely is not able to ensure a serious recovery, when spoke in the Parliament's hearings. Nevertheless, British pound managed to establish a fresh high of 2013 at the point of 1.6382.


Japanese news background was also mixed. Inflation remained on October level at the point of 1.1%, which is undoubtedly positive for Japan coping with inflation. However, the data on unemployment and industry output was negative. In general, Jpy/Usd shows a steadily ascending tendency and 5th trading week in succession is closed above the previous one.
Read the Forecast

 

[Volkov Yuriy]

Now clients of “FreshForex” can use PayPal to replenish accounts!

Dear clients!

We are glad to let you know that "FreshForex" company is extending the list of available payment methods. Now clients of the company can replenish their accounts with the help of PayPal - one of the world leading companies in the field of payments and money transfers via the Internet.

PayPal system is well-known around the world due to its reliability and usability. To use this payment system, it is just enough to confirm your personal data and tie bank card to your PayPal account.

There is no commission charged for replenishing of “FreshForex” accounts via PayPal. The system works in US dollars. Conversion into currency of account is made according to the internal rateof the company efficient by the moment of performing of a funding transaction.

Let us remind you that clients of “FreshForex” company can use more than 20 methods of replenishment and withdrawal of money funds.

 

[Volkov Yuriy]

Get $30 for an article about Forex!

Dear clients!

We remind you that our company provides "Bonus for the article" promotion. Do you have experience in the Forex market? Do you want to share your knowledge with other traders? We invite you to become one of authors of the educational project "CleverFX" Forex Encyclopedia.

To take part in the promotion, send us your unique article about foreign exchange market, wait for its publication and get $30 to your trading account in the company.

"CleverFX" is an unique educational project of "Freshforex" company, which so far includes several hundred articles about foreign exchange market. The project is created exceptionally by traders and for traders.

Let’s write Forex history together!
Prior to taking part in the promotion, please read its terms.

 

[Volkov Yuriy]

How clients of “FreshForex” company traded in November?

Dear clients!

November has come to an end, which means that it is the right time to familiarize with trading results achieved by “Freshforex” and underline the most significant events of the last autumn month.

November was eventful in the Forex market . European Central Bank reduced the interest rate by 0.25% and acted as a main news maker. Eurozone was threatened by deflation and the regulator decided to make serious steps in its monetary policy. Further to the decision about interest rate, there were rumors on the market about possible introduction of negative rates in the Eurozone. All these factors put pressure on the EUR/USD pair quotation and a flat trend had been witnessed over a month.

British currency, in contrast, markedly increased in weight against its U.S. rival. Positive releases on British economy allowed to install a fresh 2-year high of GBP/USD quotation.

Japanese currency continued to weaken against U.S. dollar in November. Inflation in the country of the rising sun is gradually growing and the Bank of Japan said that it will continue to hold a large-scale stimulative policy in the same volume.

Below we offer you to have a look at results of trading of “FreshForex” clients in November:

Relation between profitable and loss-making trades:
Percentage of profitable trades exceeded percentage of loss-making trades and amounted to 64.9%.

Highest income per month:
Amounted to 1060% of deposit.

The most active client, number of trades per month:
The most active client conducted 1376 trades.

We remind that you can find the most important figures regarding company's operation in «Facts and Figures» section of our web-site.

 

[Volkov Yuriy]

Week sketches for three pairs
EUR/USD


Monthly chart: the pair is approaching upper Bollinger Band (1.3860), which will be quite able to send the pair to get corrected the area 1.3354. If bulls show strength and will break 1.3860, then the point 1.4260 will become an alternative verdict (marked by red arrow).

Weekly chart: a local support by Bollinger medium band is seen (1.3421). Thus, we either will face rollback to this line from 1.3860 and further growth, or break through 1.3860 to 1.4260 without rollback.

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[Volkov Yuriy]

USD/JPY: fresh high of 2013 is not far off
Review of the past week


The last week was the first trading week of the new month and thus had been very eventful. European currency managed to consolidate strongly against its US associate. EuCB meeting was conducted on December, 5th. As it was expected, European regulator remained discount and deposit rates without changes. Over the last days, there were rumors that negative rates would be introduced in Euro zone and the market received refutation of this information.


On this background, a confident growth of Eur/Usd quote has been witnessed, though provisional GDP for the 3rd quarter received good data. Friday's report on labor market sprang a surprise for market's participants, in particular, it was growth of Non-Farm payrolls index to the point of 203 000. Though European currency reacted this only in the form of technical correction, upon which growth of quotation continued. Also, a notable upsurge took place on leading stock exchanges of the world. To conclude, US positive data was not able to persuade investors that FRS would decide about cutting of QE3 on its nearest meeting on December, 17-18.


British currency had been descending during entire week. Positive data on construction and manufacture PMI did not encourage bulls to storm new hills. Whereas release of PMI for service sector disappointed investors having demonstrated its low for the last 5 months. Also, its rate was pressed by Eur/Gbp growth – this cross-rate consolidated a lot.


BoE meeting was held on Thursday, 5th, and it was decided to remain current monetary policy unchanged. Usd/Jpy had been experiencing correction over the most part of the week, after which it had reached a fresh 6-month's high. Positive data on the US labor market contributed to growth of the US currency. Usd/Jpy pair closed trading week on the point of 102.88. The futures on stock index Nikkei 225 also showed a confident growth further to three days of correction. Correlation between those two pairs is still very strong.


Forecast for the week 9 – 13 of December

 

[Volkov Yuriy]

“New Year Money Bag” from “FreshForex” company!

Dear clients!

We are happy to let you know that Freshforex company opens a season of Pre-New Year trading! “New Year Money Bag” is a big drawing that Fresh Frost magician prepared for you.
Trade actively for whole December and get one of three tickets to enroll money prize drawing held by “FreshForex”: 25 prizes for 300$, 5 prizes for 1500$ and one main prize – 15 000$!
Total prize pool of the promotion amounts to 30 000$! Prize amount and value of the ticket depend only on your trading activity. Everybody will have the chance to win money prize – more than 30 traders will be the winners!

Take part in the “New Year Money Bag” promotion and get your happy ticket in the big drawing by “FreshForex”!
Right now you can learn detailed terms of the promo on the-company's web-site.
“FreshForex” company wishes you a happy coming New Year holiday!

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[Volkov Yuriy]

Australian still stands off Euro and Pound
EUR/USD


Monthly chart: Area of 1.3859 will be repeatedly tested (upper Bollinger Band), further to which bulls either start attacking 1.4260 or will roll to the medium band (1.3121, marked by red arrow).
Weekly chart: here, 1.4260 level seems like a verdict. The question is only in the direction of movement – whether it will be direct or through rollback to the medium band. So far, a more located support – in this case 1.3442 – does not allow to rely upon a deep movement to 1.3121.
Daily chart: an even closer level of potential demand is 1.3601. Most likely that 1.3859 will be broken exactly after touching this very area.

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