InvestMacro

Introduction

If you are a newcomer to the forex market and want to take trading for long-term business, then you should consider trading with ECN forex broker. Even if you are already trading for a certain period of time, you have a pretty good opportunity to become a successful trader by trading with ECN brokers. ECN brokers use Electronic Communication Network (ECN) to enter their clients with the right trades in the forex market. Though they play an intermediary role between the bank or market and the trader, but they don’t put extra charges to the transaction fees. Therefore, traders get a better chance to make profits from the forex market. But choosing the best ECN forex broker can be tough for the traders. This is why you can take the help of some of the renowned forex broker reviews to find the best ECN forex broker for yourself. Here we are providing some of the key elements which you should look in the ECN brokers before finalizing one:

Credibility

Credibility is the core of any ECN forex broker and therefore whenever you are reviewing any ECN forex broker, do check their credibility on the first place. If credibility is okay then you can go check the other elements. If credibility is not fine then removing that broker immediately from your forex broker list and check for the other ones. To verify the credibility of the ECN brokers, you must have to check the legitimacy of their licenses. Licenses are very important because it helps the clients from getting into any type of scam and fraud. An authentic ECN forex broker will possess FCA, ASIC, NFA, CFTC, etc. licenses under their name. You can check the credibility of the ECN brokers using the Google search from the internet. It will be the first step of choosing the best ECN forex broker.

Transparency

To determine the authenticity of a certain ECN forex broker, you must need to be assured about their transparency in all trading related activities. Transparency is an important aspect to get the faith in the ECN brokers and put our money in their hand. Transparency can pave the way of faith and trust to the ECN forex broker. The best forex broker in the world keeps their trading related activities transparent to their clients so that they can gain their faith and have them invested huge capitals. Therefore, finding a transparent ECN broker is the second step to find the best ECN forex broker for yourself.

Payment Methods

Traders have to invest a huge amount of cash in trading through their respective ECN forex broker. Therefore payment methods are really important as you are paying huge amounts to them and expecting a bigger amount to return as well. A legitimate and authentic payment method should be provided to the clients so that they don’t have any doubt or confusion regarding the payment methods. They won’t hesitate to invest huge amounts in trading then. This payment method also needs to be transparent otherwise clients can lose their faith in it if they see any kind or corruption or fraudulent.

Trading Platform

Trading platform is the place where you get all the information and insight for trading. It plays a vital role in trading and helps the traders to achieve their dreams. Best forex broker in the world always put emphasis on trading platform and they provide the most user-friendly trading platform to their clients so that they can easily access to the platform and trade with comfort. There are a few ECN brokers who give their clients to access into trading platform like MT4, MT5, and WebTrader. These are very popular online trading platforms and through them you can even trade online from anywhere at any time. Nowadays, online trading has reached its peak and has been delivering great results to the clients. This is why you need to check out the trading platforms as well while choosing the best ECN forex broker.

Deposit and Withdrawal

Last but not least is deposit and withdrawal system. Though it is also related to the payment methods but yet you need to find out the deposit amount of that certain ECN forex broker you are reviewing. Because this deposition fee varies broker to broker and if you want to get the best deal, you must have to compare them all once you find the fees of your forex brokers list. Withdrawal process is very important. Because many ECN forex broker takes a lot of time to allow traders to withdraw their money. You won’t love to wait for withdrawing your own hard-earned money at all. Therefore, it would be better if you can get the insight of the timeframes of deposit and withdrawal while reviewing the ECN brokers.

Conclusion

ECN forex broker has become quite popular throughout the world. People are investing huge amounts in trading through the ECN brokers all over the world. If you also want to be one of them and make some profits from trading, then just find the right ECN forex broker for you. To find the best ECN forex broker for yourself, you must need to ensure all the above-mentioned aspects in it. Only then you will be able enjoy the services of the best forex broker in the world.

By Best ECN Brokers

by JustForex

An interesting event for the market this week won’t be just the meeting of central banks, but also Jannet Yellen’s return to the management of the US economy. The former Fed chairman, with whom the American economy was able to get out of the crisis at the beginning of the last decade, will speak in the Senate today. Investors expect her statements to address monetary policy, and support for President-elect Joe’s $1.9 trillion economic bailout plan.

Yellen is expected to reaffirm the US commitment to market exchange rates and make it clear that the country isn’t looking for a weaker dollar to gain a competitive advantage, according to Wall Street’s report on the prepared speech plan.

Meanwhile, the global rally in stock markets has subsided somewhat after a sharp rise in 2021. The reporting season begins, so the risky assets may react sharply in case of significant deviations from the expected results. In this regard, investors took a break. Important earnings reports are expected today from the following companies: Bank of America, Morgan Stanley, Procter&Gamble, Intel, and Netflix.

The upcoming congressional talks on the aforementioned Biden’s bailout plan are adding uncertainty to the markets. It is expected that not everyone will agree with him and there will be obstacles. The growth in the number of infected people certainly pushes officials to spend more, but investors also can’t ignore the increasing damage, especially in Europe.

Main market quotes:

S&P 500 (F) 3,789.75 +27.50 (+0.73%)

Dow Jones 30,814.26 -177.26 (-0.57%)

DAX 13,914.05 +65.70 (+0.47%)

FTSE 100 6,761.75 +41.10 (+0.61%)

USD Index 90.578 -0.176 (-0.19%)

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga, Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

In the H4 chart, a divergence on MACD made the pair return to 23.6% fibo but after updating the low the pair started a new pullback. After finishing the short-term correction, the instrument may start another descending impulse to reach the previous low at 1764.36, a breakout of which will lead to further long-term downtrend towards 38.2% at 1725.37. However, one shouldn’t exclude a possibility that the pullback may transform into a new wave to the upside to reach 76.0% fibo at 2000.00.

As we can see in the H1 chart, the correctional uptrend has reached 23.6% fibo and may later continue towards 38.2% and 50.0% fibo at 1862.00 and 1880.55 respectively. A breakout of the local low at 1801.79 will result in further downtrend to reach the key low at 1764.36.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after a convergence on MACD, USDCHF has tested the upside border of the post-correctional extension area between 138.2% and 161.8% fibo at 0.8886 and 0.8816 respectively. this growth should be considered as the continuation of the mid-term pullback. The key correctional target is the resistance at 0.8999.

The H1 chart shows a more detailed structure of the correctional trend. The asset has reached 50.0% fibo and, after breaking it, may continue moving towards 61.8% and 76.0% fibo at 0.8965 and 0.9012 respectively. A breakout of the support at 0.8757 will complete this correction and resume the downtrend.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2067; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2115 and then resume moving downwards to reach 1.1940. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2160. In this case, the pair may continue growing towards 1.2245.

BRENT

Brent is trading at 54.57; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 53.55 and then resume moving upwards to reach 59.15. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 53.05. In this case, the pair may continue falling towards 52.05. To confirm further growth, the asset must break the descending channel’s upside border and fix above 55.85.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7683; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7695 and then resume moving downwards to reach 0.7525. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7765. In this case, the pair may continue growing towards 0.7855. To confirm further decline, the asset must break the support area and fix below 0.7635, thus indicating the completion of a Double Top reversal pattern.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2152
• Prev Close: 1.2077
• % chg. over the last day: -0.62%

On Friday, EUR/USD accelerated its southern corrective movement, closing below an important support level. Despite the negative data on retail sales in the US, the difference in 10-year Treasury yield remained unchanged. As a result, the European currency continued to yield to the dollar, showing a tendency towards the beginning of a deep correction.

Trading recommendations

• Support levels: 1.2059, 1.1799
• Resistance levels: 1.2130, 1.2222

The main scenario for trading EUR/USD is selling. The break-through of the 1.2130 level indicated the development of a correction, and the mark became a resistance level. All technical indicators, including those on older time frames, have rebuilt and are providing southern signals. The ADX showed high bearish pressure on H1, while convergence appeared on the MACD. The potential for further declines is high.

Alternative scenario: if the price manages to fix above the level of 1.2130, the pair may return to the range with the upper border of 1.2222.

There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3683
• Prev Close: 1.3586
• % chg. over the last day: -0.71%

The sterling failed to rise above an important resistance level by the end of Friday and showed a significant intraday decline. Traders received reports on economic growth, and they’re not the positive ones. Despite better-than-expected numbers, the year’s results and its start are disappointing. Gilts yields against the US Treasuries continue to fall, putting pressure upon the British currency.

Trading recommendations

• Support levels: 1.3532, 1.3428
• Resistance levels: 1.3702, 1.4386

The main scenario in GBP/USD is selling. A downward move after the second touch of 1.3702 on the chart shows a “double top” pattern – a strong sell signal. The sharp fall and fixation of the price below the moving averages caused a strong reaction from the ADX. The potential for the trend has exceeded the indicators in the upward movement of the previous week, indicating a rapid increase of bearish strength.

Alternative scenario: if the pair fixes above 1.3633, the pair is likely to return to growth to 1.3702.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 103.79
• Prev Close: 103.86
• % chg. over the last day: +0.06%

On Friday, USD/JPY was weakly correlated with the dollar index. The bulls were hampered by the movement on the stock markets, where the development of the correction was observed. The data on retail sales in the US came out with no success, which caused a wave of reduction of long positions in risky assets. As a result, the pair failed to show significant growth following the dollar index.

Trading recommendations

• Support levels: 103.53, 103.18
• Resistance levels: 104.40, 104.76

The main scenario is trading in a sideways range. The ADX indicates a very weak reaction to movements, but more inclination is still observed when the price rises. However, other indicators contradict the northern disposition so far. The price is fixed below the moving averages, and the MACD is near zero. On the background of mixed indicators, the sideways range is most likely.

An alternative scenario assumes the price fixing above 104.40. In this case, the pair may return to growth up to 104.76 – 105.68. A break-through of 103.53 will indicate renewed bearish sentiment.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2635
• Prev Close: 1.2729
• % chg. over the last day: +0.74%

On Friday, the pair managed to get away from the decline, and there were signs of a correction development. Oil prices on the last day of last week trading showed the largest decline since December last year. This factor put pressure on the Canadian currency. At the same time, the rise in the dollar across the entire spectrum of the market helped the bulls in the pair climb almost to the January highs.

Trading recommendations

• Support levels: 1.2630, 1.2523
• Resistance levels: 1.2797, 1.2834, 1.2875

The main scenario is buying on a decline. The ADX demonstrated the strongest dynamics among all majors in the foreign exchange market. This indicates the significant strength of the bulls in the pair. However, the oscillator is in the area of short-term overvaluation, which indicates the need for a rollback. The MACD and the moving averages reversed completely.

Alternative scenario: if the price is able to fix below 1.2698, the pair may return to 1.2630.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Introduction

Forex Trading is one of the most popular investments all over the world nowadays. It has been a fan favorite investment among the investors and traders over other investments for a long time now. Forex brokers are making huge money in the forex trading and providing their clients a satisfactory return for their initial investments. Most of the forex reviews reviewed forex trading and forex brokers thoroughly and found out the 6 advantages forex trading has over other investments. Advantages which make people choose forex brokers over other investment opportunities are as follows:

Low Amount of Initial Investment

Forex market is the only investment opportunity where the traders get to start with a low amount of initial investment. Some forex brokers even offer free trading accounts on their sites. But no other investors show these types of opportunity to the clients. But in forex trading, you have the chance to participate in trading with a small sized account. It is an incredible opportunity to all the newcomers of the forex market because they can test the market and forex trading platforms with a small amount of capital before taking risks with high investments.

Unlimited Earning Potential

Forex trading is a place of making money but the most amazing fact about this place is the potential of making unlimited money. Trillions of currencies are traded in the market on a daily basis. This is why forex market is one of the biggest financial markets of the world. Transaction volumes and amounts are so high that it can manipulate the market anytime. Therefore, you can get the opportunity to earn as much as you want. So, trading with one of the top 10 forex brokers in the world can be an ideal option for starting a stable financial business. A proper forex trading platform can help you increase your potential earning in the market.

Never Sleeping Forex Market

You can do forex trading at any hour of the day whether it is in the early morning or late night or midnight. Forex market never sleeps at all and this is why it is known as the “Clock Market Place.” This is a great opportunity for those who can’t get spare times to do day trading as they have to maintain their day jobs as well. Therefore, forex brokers are like a blessing for them as they are able to trade whenever they get spare time from their day jobs. So, for all the wannabe part-time traders, forex trading can be a life-changer for you.

Transparent Accounts

There is no scope of frauds and corruption in forex trading as the whole industry is out and out transparent. You can easily search and look for all the necessary forex information from any device with internet connection. This is the beauty of the forex trading. Forex brokers do not keep any real time news, information, and analysis to them. They keep them public for the betterment of their clients. Because of this transparency of the forex brokers, their clients get the real time news and information by which they can do their own research to set the strategies. They can manage their own risk management system in the forex market as well. Therefore, chances of having any unexpected surprise in trading can be avoided.

High Leverage

In stock market, your stocks will be limited by the amount of fund you initially invested in the stock market. But the scenario is different for the forex trading market, because they are allowed to make money according to the leverage not by their initial investment. Traders will earn money on the basis of high leverage of their trades. It can go up to 100 times of their capital. Even a forex trader with a lower capital has the potential to make sufficient amount of money from the forex market on the basis of the currency exchange rate and leverage. No other investment can give you this advantage and this is why people are chosen forex brokers to invest their money in trading.

Zero Commission and No Exchange Fees

Though forex brokers help their clients in forex trading to make some money from the market, but still, some of them charge zero commission for their services. Even sometimes they don’t even take any exchange fee from their clients as well. These things are only possible in forex trading. No other investments can provide you this advantage. Commission free trading can be a great opportunity for all the beginners at forex market. They can start their journey on the forex market just by paying the money to take a position of a spread in the forex market. Forex brokers hugely depended on the forex trading platform because it can help their clients with all the ins and outs of forex trading without their physical presence.

Wrap Up

Forex market is the only place where you can earn money from both falling and rising market. Those brokers who can ensure this to their clients get their spot in top 10 forex brokers in the world. They take great care of their clients and help them make money from trading. Therefore, choosing the right forex brokers is also quite important as a trader. You need to do a thorough research before choosing any forex broker to start your trading journey in the forex market.

By Top Forex Brokers Review

By Hussein Sayed, Chief Market Strategist (Gulf & MENA), ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Author: Dmitriy Gurkovskiy, Chief Analyst at RoboForex

On Monday, January 18th, the major currency pair continues falling – it has already reached its six-week lows. At the moment, the asset is moving at 1.2070 being rather weak.

The statistics from the USA published last Friday turned out to be rather unimpressive. The Retail Sales showed -0.7% m/m although it was expected to be zero. The month before, the indicator lost 1.4% m/m and it’s a sign that consumers are pretty careful about their expenses due to economic turbulence in the country and can’t provide its economy with enough support. At the same time, the Industrial Production in the USA added 1.6% m/m in December, which is much better than expected.

The “greenback” is still getting support from the US bond profitability, expectations of successful vaccination in the USA, and hopes for the results of a new stimulus package worth $1.9 trillion.

In the H4 chart, after rebounding from 1.2222 and reaching the predicted correctional target at 1.2066, EUR/USD is expected to form another consolidation range near the lows and may later expand this range down to 1.2050. After that, the instrument may break the descending channel and start a new growth with the first target at 1.2230. Later, the market may correct towards 1.2145 and then form one more ascending wave with the target at 1.2450. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving below 0 and may leave the histogram area, thus implying that the descending wave is over and the line is about to start moving upwards to reach 0.

As we can see in the H1 chart, after finishing the fifth structure of the descending wave, EUR/USD is expected to consolidate above 1.2066. If later the price breaks this range to the upside, the market may grow to break 1.2105 and then continue trading upwards with the first target at 1.2145; if to the downside – expand it down to 1.2050 and then start a new growth to reach the above-mentioned target. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is steadily growing towards 50 and may break it. In this case, the line may continue moving to reach 80.

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2155
• Prev Close: 1.2151
• % chg. over the last day: -0.03%

EUR/USD on Thursday showed weakness against the dollar, despite the decrease in greenback across the entire spectrum of the market. The European currency is under pressure in anticipation of new restrictions related to the worsening epidemiological situation. France will extend curfews across the country. German Chancellor Angela Merkel, meanwhile, plans to tighten quarantine in the country. Indeed, there is mounting evidence that the pandemic is picking up steam again.

Trading recommendations

• Support levels: 1.2222, 1.2283
• Resistance levels: 1.2130, 1.2059

The main scenario for trading EUR/USD is trading in a sideways range between 1.2222 and 1.2130. The 1.2130 level remained the key support, as there was only an intraday puncture followed by a northern bounce. It is necessary to wait for the fixation. Otherwise, the situation will be similar to the “spring” model, in which a false puncture leads to a reversal. In this case, without consolidation below 1.2130, a northern reversal is likely.

Alternative scenario: if the price manages to consolidate below the level of 1.2130, the pair may continue to move towards 1.2059. A break of 1.2222 will bring the pair back to 1.2283 or higher.

News feed for 2021.01.15:

• – 16:30 (GMT+2) US Retail Sales Baseline (MoM).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3635
• Prev Close: 1.3684
• % chg. over the last day: +0.36%

Sterling continued to rise on Thursday, however, bullish potential is at a low level. Bearish signals appear gradually. The growth, caused by the comments of the Governor of the Bank of England, is not confirmed by the credit market. Gilts earnings continued to decline and returned below 0.30%, while US Treasuries stabilized near 1.10%.

Trading recommendations

• Support levels: 1.3532, 1.3428
• Resistance levels: 1.3702, 1.4386

The main scenario in GBP/USD is selling. Earlier this week, sterling showed its second touchdown at 1.3702, the January high. On Thursday, there was a false puncture without fixing above this level. The situation is beginning to indicate strong resistance in this area, and a “double top” pattern has formed on the chart. ADX, when declining in the Asian session, began to react with growth, indicating the presence of bears.

Alternative scenario: if the pair consolidates above 1.3702, growth is likely to continue.

News feed for 2021.01.15:

• – 10:00 (GMT+2) UK GDP (m/m);
• – 10:00 (GMT+2) UK Manufacturing Output (MoM) (Nov).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 103.87
• Prev Close: 103.78
• % chg. over the last day: -0.08%

On Thursday, the dollar-yen showed a decline following the credit and equity markets. The announcement of a $1.9 trillion economic bailout package from Joe Biden did not inspire investors. The stock market is showing signs of correction more and more, which in turn casts doubt on the growth of the dollar-yen.

Trading recommendations

• Support levels: 103.53, 103.18
• Resistance levels: 104.40, 104.76

The main scenario is trading in a sideways range. ADX did not react to the last downside impulse, which indicates the weakness of the bears. The price has consolidated below the moving averages, which indicates a high probability of a breakdown of the lower border. However, until that happens, the pair could trade in a range between 104.40 and 103.53.

An alternative scenario assumes the price fixing above 104.40. In this case, the pair may return to growth up to 104.76 – 105.68. Breakdown of 103.53 will indicate renewed bearish sentiment.

News feed for 2021.01.15:

• – 16:30 (GMT+2) US Retail Sales Baseline (MoM).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2693
• Prev Close: 1.2636
• % chg. over the last day: -0.45%

On Thursday, the pair accelerated its decline and reached the lows of early January. Oil quotes continue to rise, which in turn puts pressure on the pair. The slight decline in the dollar index helped to increase the pressure on the price.

Trading recommendations

• Support levels: 1.2630, 1.2523
• Resistance levels: 1.2797, 1.2875

The main scenario is range trading. Despite the rapid decline on Thursday, the ADX barely reacted. But the growth in the Asian session is perceived by the oscillator as legitimate. However, other indicators are fully positioned in a southern direction. MACD has shown convergence, which is usually a strong signal for continuation. Since the price was able to stop at a strong support level, the overall result is neutral.

Alternative scenario: if the price can gain a foothold above 1.2718, the pair may return to 1.2797. A breakdown at 1.2630 will indicate further decline.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.