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Andifx

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EUR/USD Technical Analysis

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The single currency of Europe had another bad week, losing 2.3% and falling to a new 24-month low against the dollar. The downward movement from the previous week also destroyed a crucial weekly support at $1.0298, which may now act as resistance in futures trading. Similar to the US Dollar Index (above), the 1.272 percent Fibonacci projection from $0.9925 might be identified as the next negative support on the weekly scale.

According to the daily chart, the relative strength index (RSIvalue )'s entered oversold territory and drew attention to indicator support at 21.87. The potential for positive divergence is, of course, yet another technical insight. However, keep in mind that in trending conditions, this indicator can produce a number of misleading reversal signals.

On the H4 timeframe, the $1.0276-1.0235 decision range is prominent. This area formed BEFORE tunnelling through the $1.0182 daily support indicated above. And given that the region is still new (untested), if it is encountered this week, it will probably garner attention. The 1.272 percent Fibonacci projection coming in from $1.0074 (red), a foundation that provided support on Friday, is another significant level on the H4 char

A closer examination of price movement on the H1 period reveals that psychological levels are currently what matter most. A recovery from $1.01 was seen on Friday, helped by the 1.272 percent Fibonacci projection on the H4. This move brought the price to within striking distance of $1.02. The light from upstream points to $1.03.

A likely bearish showing in the next weeks is revealed by the weekly time scale showing space to chase the Fibonacci support level of $0.9925 and the daily timeframe retesting resistance at $1.0182 with room to reach support from $0.9919. A whipsaw above $1.02 to the H4 decision point at $1.0276-1.0235 might be a move that appeals to selling in the near term, targeting a retest of $1.01 and possibly even lower. This is because of the technical picture in the upper timeframe.

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Andifx

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Gold Rush Demo Competition

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Gold Rush Demo Competition

Gold Rush Demo Competition is a free-to-enter contest where traders get to trade with special demo accounts. At the end of the cycle the three accounts with the greatest balance win.

How to Start ?
You can register during the first five days of each new round from the ‘Begin Adventure’ button. This would create a new demo account from which you would trade during the contest - it is only active for the current Gold Rush cycle. Your demo account will be loaded with virtual currency to be used for trading major currency pairs and gold.

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Andifx

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Get 50% Welcome Bonus on each deposit

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Andifx

Active member
Forex Technical Analysis - GBP/USD

Today we will discuss GBP/USD analysis, see the full video below.

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Andifx

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The US Dollar Index is rising due to higher inflation

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After the US CPI was released yesterday and was revealed to be 9.1% percent, up from 8.6 percent a month before, the US dollar is once more attempting to move higher against the EUR, CHF, and JPY. However, some commodity currencies are performing fairly well. We observe that the AUD/USD is maintaining support, which may be related to Australian statistics that indicated the jobless rate decreased to 3.5 percent in June.

We'll be looking at US PPI statistics and jobless claims today to determine if inflation is impacting producers. The USD index is aiming for the 109.00 level in the fifth wave, where the week's end might provide some resistance. The 109.50/110.00 region is the critical zone above that. It will be a sign that the dollar is in a new corrective setback if it moves again below 107.30.

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Andifx

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Bonus Program

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We offer 5 bonuses for our clients. You can use all our bonuses for more profitable trading. We also have a No Deposit bonus for beginners. All earned income from bonus trading is available for withdrawal.

With SuperForex you have a wide choice of bonuses you are welcome to take advantage of. Since some bonuses are not compatible with others, we offer you this comparison chart where you can easily determine which bonus would be perfect for your needs. You can also learn more about each individual bonus before you apply for it from the Clients Cabinet.

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Andifx

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Technical Analysis EUR/USD

Today we will discuss EUR/USD, analysis, see the full video below

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Andifx

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Easy Deposit Bonus now available on ECN accounts in local currencies

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We are excited to let you know that our Easy Deposit Bonus is now available on ECN Standard Mini accounts in local currencies. Previously Easy Deposit Bonus was available only on Standard STP accounts in USD.

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Andifx

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Forex Education for Beginners

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When you first stumble upon Forex trading, you might be overwhelmed by all of the different types of charts, indicators, strategies, and even the sheer amount of trading instruments available. The Forex world is indeed wide and complicated.

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Andifx

Active member
CAD/JPY: fundamental review & forecast

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According to World Bank forecasts, the world economy will face a recession in 2023. Also, the interest rates in key countries will increase to an average of 4%. The market remains under pressure due to negative forecasts. Most of all, commodity assets, including oil, are losing in price. Nevertheless, so far in the confrontation with the JPY, the Canadian dollar is near its absolute maximum. Only in the last 7 days we observed a downward movement. We do not exclude both a trend reversal and a normal price correction.

Investors ignore the safe but low-yielding yen to the last. Economic reports combined with extremely soft monetary policy do not contribute to this either. We are observe a rapid deterioration of the economic situation in Japan: industrial production volumes, as well as export volumes, are below forecasts. In June, industrial production output increased by 9.2%, in July - by only 0.8%; the trade deficit is growing above forecasts. Therefore, if the yen is strengthening, it is only as a safe asset.

The Canadian dollar is certainly more interesting for investors and in the event of an increase in oil prices, it may receive support. The Bank of Canada, which raised the rate by 75 pips at once, announced plans to continue tightening monetary policy in the future. The growth of inflation will certainly continue.As for oil, the prices of black gold are now at a minimum and have the potential to increase in the event of a weakening of the dollar or new restrictions against the Russian crude oil and an escalation of the conflict. This will contribute to the growth of CAD.

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Andifx

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Scary discounts on Halloween with SuperForex

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Andifx

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Make Your Business with Superforex

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Enjoy the ease of making money with Superforex. Ready-to-use website for partners is available. It comes pre-equipped with everything you need to begin, but it also contains sections you can populate with your own content. All of our suggested content for your site contains your affiliate links, so you can use it for attracting new customers. The sites come in a few different design options that you can view here.

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Andifx

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Trade the Most Popular Instruments

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Enjoy trading currencies, stocks, indices, energies, and other instruments on the financial markets. Open a trading account to never miss profitable opportunities.

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Andifx

Active member
NZD/CAD Review and Forecast

Today we will discuss NZD/CAD review and forecast, see the full video below

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Andifx

Active member
EUR/CAD: fundamental review & forecast

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What we see on the chart is most likely a continuation of the downtrend, after a period of price correction. Recall that 2 months ago, after reaching the historical minimum, the quotes turned up, and the upward movement was confidently maintained throughout all 60 days. The Canadian dollar was under pressure in September due to the fall in oil prices, high inflation, and being a commodity asset. Investors avoided the currency amid the recession in the global economy. The Bank of Canada also disappointed investors when, at its last meeting, it raised the rate by 50 pips while an increase of 75 pips was expected.

The ECB, in turn, on the contrary, begins to actively raise the rate, having been one of the last to join this rally. Thus, the euro is getting stronger, although this is not enough to win against the USD. The situation with the Canadian dollar is more promising for the euro, but since oil prices are rising, it will be difficult to beat CAD. Already today we see a stop in growth and a resumption of the downward movement. The euro needs strong incentives in the form of signs of the end of the confrontation with Russia and the lifting of sanctions, for example, but there are no indications that this will happen anytime soon.

Next week, the focus is on business activity in China, and the growth of business activity will stimulate demand for risky assets. The report of China's GDP in the 3rd quarter above forecasts was published earlier, and as a result, oil prices have risen and are approaching the $ 90 mark. The focus will also be on many reports in the Eurozone, such as unemployment, business activity, inflation, GDP. Given the circumstances, there is every reason to expect these reports to be disappointing.

Most of the technical analysis tools show a signal for sales in the near future. We believe that this is a reasonable decision because the economy in Canada is in a better position. Therefore, our choice today is to buy the Canadian dollar, but sell the euro.

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Andifx

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Your Balance Doesn’t Go Below 0

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The SuperForex Auto-Reset Balance program serves as a shield protecting you against an account balance in the negative. In case you do happen to make a poor trading decision, your balance will not go below 0 - instead, the Auto-Reset Balance system would compensate your losses and keep your account at zero. Then you would not be in debt and any new deposits you make will be yours to handle and spend on new orders. The functionality works automatically for all accounts, so there is no need to subscribe to it.

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Andifx

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EUR/USD Review and Forecast

Today we will discuss EUR/USD review and forecast, see the full video below

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Andifx

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Earn Money with the Best Forex Offers

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SuperForex always tries taking care of the company's customers. We recognised the Easy Deposit Bonus as being very popular among our traders. That’s why we upgraded it to offer you even more value for your money.

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Andifx

Active member
EUR/AUD Technical Overview

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Seeking another opportunity to purchase the Australian Dollar.

On the EUR/AUD chart this descending trend channel scenario is too attractive to ignore.

The 1.5600 significant psychological level, which may signal the end of the downturn, is the target of the pair's upcoming challenge of the channel resistance.

Around the upward hurdles indicated by the Fibonacci retracement tool, a brief dip may already trigger selling pressure.

Particularly, the 50% level may already be limiting progress at the important mid-channel area. This coincides with the 200 SMA dynamic inflection point, which strengthens its effectiveness as a ceiling.

The fact that the 100 SMA has already dipped below the 200 SMA indicates that the selloff is more likely to continue than to stop. At the same time, Stochastic is descending, suggesting that once negative pressure resumes, EUR/AUD may follow suit.

If that occurs, keep an eye out for a test of the channel bottom or the swing low near the 1.5250 level!

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Andifx

Active member
USD/JPY Review and Forecast

Today we will discuss USD/JPY review and forecast, see the full video below

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