Global Forex Broker Solidecn.com

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

1. 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.
2. MT 4 has 4 pending orders, whereas MT5 provides 6 types of pending orders.
3. MT 4 doesn’t have the market depth, but MT5 market depth is accessed within the chart.
4. MT5 has the Economic calendar on default.
5. MT4 has 4 types of pending orders, whereas MT5 holds 6 types.
6. MT4 allows hedging only, whereas MT5 allows both hedging and netting on request.
7. MT5 has 38 technical indicators, 44 analytical objects and unlimited charts
8. Partial order filling policies (fill/kill or cancel return) is another advantage of the MT5 for advanced traders.
9. The strategy tester of the MT5 platform is multi-threaded but MT4 is single-threaded.
10. 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!

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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.

Attached Image (click to enlarge)

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Dow Jones - The US stock market is preparing to continue its growth

Tesla Inc., an electric car maker, released financial results yesterday, with fourth-quarter revenue of 24.32 billion dollars, lower than forecast of 24.68 billion dollars, and with earnings per share of 1.19 dollars, higher than the previous quarter's figure of 1.05 dollars. In turn, technology giant IBM Corp. posted revenue of 16.70 billion dollars against a forecast of 16.13 billion dollars and earnings per share of 3.60 dollars, well above 1.81 dollars a quarter earlier.
Among the negative publications, one can single out yesterday's report of the manufacturer of aviation, space and military equipment, Boeing Co., whose quarterly revenue amounted to 19.98 billion dollars, an increase of 35.0% compared to the previous quarter. The company's recovery still failed to turn it into profit, with a loss per share of 1.75 dollars after -6.18 dollars per share in the previous quarter. On the daily chart, the index quotes continue corrective dynamics, again trying to overcome the channel's resistance line at 34160, and the technical indicators are in a state of uncertainty.

Support levels: 33300, 32500 | Resistance levels: 34160, 35300
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EURJPY settles below the moving average

The EURJPY pair returned to provide some negative trades to settle below the moving average 55, to form additional barrier at 141.70 and support the domination of the previously suggested bearish bias. Also, stochastic attempt to exit the overbought areas will increase the negative pressures, providing chances to form strong negative trades, waiting to target 140.25 and 139.15 levels soon. The expected trading range for today is between 142.00 and 140.25.

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XAUUSD - Growth is possible.

If the assumption is correct, the XAUUSD pair will grow to the area of 1990 – 2050. In this scenario, critical stop loss level is 1782.23.
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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.
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Refund Policy

There is no perfection in services online, and when funding is involved, we believe that the merchant should have a transparent refund policy. Solid ECN Securities acknowledges customer rights, and for that reason, we drafted the Solid-Refund policy. There are circumstances when it is essential to return payment. Clients may submit a refund petition if the merchant service was not as described or the service was not functional or if the client justifies the reason.

We tried to make the money return policy concise, simple, and clear to give our customers a feeling of security. That is why we guarantee our services, and if it wasn’t as described the consumer has the right to apply for a money return.
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USDCAD breaks the support

The USDCAD pair succeeded to break 1.3350 level and closed the daily candlestick below it, which supports the continuation of our bearish overview efficiently for the upcoming sessions, opening the way to head towards our next target that reaches 1.3205. The EMA50 continues to support the suggested bearish wave, which will remain valid unless breaching 1.3350 and holding above it again. The expected trading range for today is between 1.3260 support and 1.3400 resistance.
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Silver - Growth is possible.

If the assumption is correct, the XAGUSD pair will grow to the area of 26 – 27. In this scenario, critical stop loss level is 22.64.
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Crude Oil - Growth is possible.

If the assumption is correct, the asset will grow to the area of 93.25 – 100.5. In this scenario, critical stop loss level is 76.50.
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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.
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GBPUSD Needs Strong Positive Motive

The GBPUSD pair fluctuates within tight track since last Friday, settling above the EMA50 that forms good intraday support against the price, to keep our bullish overview that its targets start by breaching 1.2440 to open the way to head towards 1.2595. On the other hand, we should note that breaking 1.2320 will push the price to achieve some intraday bearish correction before turning back to resume the main bullish trend again. The expected trading range for today is between 1.2320 support and 1.2485 resistance.

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Payment Methods

Solid ECN Securities added more than 50 cryptocurrencies to its payment system. Our clients at Solid ECN can manage their account funding by a wide range of cryptos, from bitcoin to Zilliqa, all are available in the Solid-Dashboard > Account funding.

Solid ECN took this step to offer cost-effective payment methods for its customers. The blockchain transfer fee of the major cryptocurrencies have been increasing, therefore, retails are interested in trying the alternatives.

With Solid ECN, any trader can take advantage of +50 crypto payments.

> It is secured;
> It is undisclosed;
> it is decentralized.

Solid ECN brings vital advantages for forex traders in the US, EU, and beyond. High levels of market transparency mean price manipulation is not possible.

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GBPCAD holds above the support

The GBPCAD pair confirmed keeping the bullish attempts by providing new positive close above the minor bullish channel’s support line at 1.6470, to manage to renew the bullish rally and settle near 1.6555. Now, stochastic attempt to provide the positive momentum allows us to suggest more positive attempts, to target 1.6680 level soon, while surpassing it will push the price to reach the additional stations at 1.6800 and 1.6930 levels. The expected trading range for today is between 1.6490 and 1.6680.

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NZDUSD Breaks the Support

The NZDUSD pair broke the bullish channel’s support line clearly and turns to decline on the intraday basis, targeting visiting 0.6365 followed by 0.6275 levels as main negative targets. Therefore, the bearish bias will be expected for today, and breaking 0.6430 will ease the mission of achieving the suggested targets, noting that breaching 0.6510 will stop the expected decline and lead the price to resume the main bullish track again. The expected trading range for today is between 0.6370 support and 0.6500 resistance.

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Euro Area Q4 GDP Beats Estimates

Q4 GDP report from euro area just came out and turned out to be a positive surprise. Growth reached 0.1% QoQ while market expected a 0.1% QoQ drop. On annual basis, GDP growth reached 1.9% YoY (exp. 1.8% YoY), slightly slower than 2.1% YoY reported in Q3 2022. Simultaneously, Q4 GDP report from Italy was released and it also turned out to be better-than-expected. Italian GDP declined 0.1% QoQ in Q4 2022, but the market expected a 0.2% QoQ drop. On an annual basis growth reached 1.7% YoY (exp. 1.6% YoY). However, in spite of being a positive surprise, reports did not have much of an impact. EURUSD barely moved while DE30 ticked lower.

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GBPUSD Technical Analysis

The GBPUSD pair trades negatively to break 1.2320 and attempts to hold below it, which urges caution from the upcoming trading and makes us prefer to stay aside until the price confirms its situation according to this level, as confirming the break will push the price to achieve bearish correction that its targets begin by testing 1.2155 and extend to 1.1940, while consolidating above it will reactivate the positive scenario that its targets begin by testing 1.2440. The expected trading range for today is between 1.2250 support and 1.2400 resistance.

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GBPCHF Begins to Decline

The GBPCHF pair surrendered to the domination of the bearish bias by providing new negative close below 1.1480 resistance and start forming new negative waves by reaching 1.1280. The negative stability below the moving average 55 and stochastic additional negative momentum signals confirm the continuation of the negativity, to expect suffering additional losses soon by targeting 1.1210 followed by repeating the pressure on the additional support 1.1105. The expected trading range for today is between 1.1340 and 1.1210.

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USDCHF Declines Again

The USDCHF pair couldn’t hold for long time above 0.9240 level, to trade with strong negativity and reach 0.9160 level now, which puts the price under expected additional negative pressure in the upcoming period, targeting visiting the recently recorded low at 0.9085 as a next negative station.
Therefore, the bearish bias will be expected for today unless breaching 0.9240 and holding above it. The expected trading range for today is between 0.9085 support and 0.9210 resistance.

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NZDUSD Still Negative

The NZDUSD pair settles below the EMA50 that forms negative pressure against the price, to keep the bearish trend active, waiting to head towards 0.6365 as a first target. Stochastic provides negative signals that support the expected decline, reminding you that the continuation of the bearish wave depends on the price stability below 0.6510.

The expected trading range for today is between 0.6370 support and 0.6480 resistance.
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