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Thread: Market Update by Solidecn.com

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    USDCAD Downtrend Continues, Fibonacci Levels in Focus

    The downward trend of USDCAD has reached 1.352, which pushed the Stochastic oscillator into the oversold zone. At the same time, the RSI indicator is also approaching the oversold level, which suggests that the pair may enter a consolidation phase in the next week.



    In this case, the pair may face the %38.2 level of the Fibonacci as a resistance. This level could attract more sellers to put more pressure on the pair and extend the downtrend to the %50 level Fibo and then the %61.8 level.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Bitcoin Bulls Break Resistance, Eye $40,000

    The price of bitcoin climbed over the 38,250 level in the latest trading session, continuing its bullish trend. However, the bitcoin bulls are facing the middle line of the bullish flag as their next obstacle. The technical indicators show that the RSI still has some space to reach the overbought zone. At the same time, the awesome oscillator bars changed to green, indicating the strength of the upward movement.



    The middle line of the flag is unlikely to resist the buying force. As a result, analysts at FxNews predict that the BTCUSD price will go up and target the $40,000 mark, which matches the top line of the flag.

    This analysis is valid as long as the pair is trading within the bullish flag.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Streamlining Forex Trading: The SolidECN Way

    At Solid ECN, we stand apart as a non-dealing desk broker. What this means for you is that we don't just pass your orders to market makers. Instead, we operate by electronically matching trade participants and directly forwarding orders to various liquidity providers. Our role as a true ECN broker is pivotal in facilitating seamless trades across the Electronic Communication Network (ECN) for active investors.

    Advanced Technology for Enhanced Trading

    The core of Solid ECN is our cutting-edge technology. This innovation brings you faster trade executions, narrower spreads, and the advantage of higher leverage. All of this comes with an added layer of transparency, crucial in today's trading world.

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    Your financial security is our priority. We ensure that your funds are safeguarded with the utmost care. This is why all trader funds at Solid ECN are kept separate from our own finances and securely held in segregated accounts in top-tier international banks.

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    Expanding Horizons for Forex Traders

    Solid ECN is not just a platform; it's a gateway to enhanced trading for Forex enthusiasts in the US, the EU, and beyond. Our commitment to market transparency ensures a trading environment where price manipulation is off the table.


    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    UK Housing Market Sees Hope: Latest Trends in House Prices

    Solid ECN - In recent months, the housing market in the United Kingdom has seen a notable shift. As of November 2023, the Nationwide House Price Index, a key indicator of house price trends, reported a year-on-year decrease of 2%. This figure is particularly interesting as it's the smallest drop in house prices we've seen in the past nine months, since February. What's more, this reduction is less than what experts had predicted, which was a decline of 2.3%.


    Month-on-Month Changes and Economic Impacts

    If we look at the month-to-month changes, there's a small but positive sign. House prices in November edged up by 0.2% compared to October, which itself had seen a 0.9% increase. This upward trend, albeit slight, is a change from the continuous decline observed over the past ten months.


    The Role of Interest Rates

    A key factor in this scenario is the change in interest rate expectations. These expectations have recently gone down, leading to a decrease in longer-term interest rates. This is important because these rates heavily influence the pricing of fixed-rate mortgages, a common choice for homebuyers.

    Robert Gardner, Nationwide's Chief Economist, commented on this development. He believes that if these trends continue, they could significantly ease the financial burden on potential homebuyers. This easing could, in turn, revive activity in the housing market, which has been somewhat subdued in recent times.


    Economic Assessment: Beneficial or Detrimental?

    When assessing the economic implications of these developments, it's a mixed bag. On one hand, falling house prices can indicate a weakening economy and lower consumer confidence. On the other hand, a slower decline in prices, along with reduced interest rates, could encourage more people to enter the housing market, potentially stimulating economic activity. This could be beneficial for the economy, as a robust housing market often reflects and contributes to overall economic health.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Ensuring Financial Safety with Negative Balance Protection​

    Unpredictability is a constant in the forex market. Solid ECN, a company known for upholding top-notch standards, understands this well. To help traders navigate these unpredictable markets, Solid ECN offers a unique safety net called Solid-Shield.


    Solid-Shield: Your Financial Safeguard​

    With the Solid-Shield feature, traders with Solid ECN can trade without the fear of ending up with a negative balance. This is particularly crucial during times of intense market volatility, where even the best-laid plans, like margin calls and stop-outs, might not work as expected. With Solid ECN, if a trader's account balance dips below zero following a stop-out, Solid-Shield steps in. It automatically resets the account balance to zero, ensuring traders don't owe any debt due to these fluctuations.


    Automatic Balance Reset for Peace of Mind​

    The reset process with Solid-Shield is fully automated. This means traders don't have to manually intervene or worry about additional steps to restore their balance. It's a seamless solution designed for ease and efficiency, offering peace of mind in an otherwise uncertain trading environment.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    EURUSD: Easing Near the Cloud

    The EURUSD currency pair's downtick slowed near the lower line of the bullish flag. This pivotal mark is additionally supported by the Ichimoku cloud. For the bullish trend to maintain, the price should hold above the cloud and/or the 23.6% Fibonacci level. In this case, we can expect the EURUSD to continue its upward trend inside the flag.



    To trigger a long trade on the pair, it is recommended to patiently wait for the technical indicators to support the bullish scenario. The Stochastic oscillator hovers in the oversold zone, while the ADX indicator is about to cross above the 20 level. While the ADX indicator demonstrates that the trend is lacking momentum, the stochastic oscillator or RSI should cross above the signal lines.

    Conversely, the bullish flag will be invalid if the bears close and stabilize the price below the 23.6% Fibonacci level. Please note, this event won't invalidate the bullish trend as long as the EURUSD hovers above the Ichimoku cloud.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    How Hong Kong’s Retail Sector Slowed Down in October

    In October 2023, Hong Kong’s retail sector grew by only 2.7% compared to the same month last year. This was a big drop from the 10.0% growth rate in September 2023. It was also the lowest growth rate since December 2022.

    One of the main reasons for this slowdown was the decline in sales of some essential items, such as food, drinks, tobacco, fuels, and consumer durable goods. These items are usually bought by local residents for their daily needs. However, due to the high inflation and the COVID-19 pandemic, many people reduced their spending on these items.

    Another reason was the weak demand for luxury goods, such as jewellery, watches, clocks, and valuable gifts. These items are usually bought by tourists and wealthy customers. However, due to the travel restrictions and the political unrest, many tourists and investors stayed away from Hong Kong.

    On the other hand, some categories of retail sales still performed well in October 2023. These included clothing, footwear, and other consumer goods. These items are usually bought by young and fashionable customers. They also benefited from the online shopping platforms and the festive promotions.

    Compared to September 2023, retail sales increased by 6.1% in October 2023. This was mainly because of the seasonal factors and the low base of comparison. However, this increase was not enough to offset the year-on-year slowdown.

    The Impact of Retail Sales on the Economy

    Retail sales are an important indicator of the economic health of a country or a region. They reflect the level of consumer confidence, income, and spending. They also affect the employment, tax revenue, and business activity of the retail sector.

    Therefore, the slowdown in retail sales in Hong Kong could have a negative impact on the economy. It could reduce the income and profits of the retailers and their suppliers. It could also lower the tax revenue and the public spending of the government. It could also discourage the investment and the innovation of the retail sector.

    However, the slowdown in retail sales could also have some positive effects on the economy. It could encourage the consumers to save more and spend less. It could also motivate the retailers to improve their efficiency and quality. It could also stimulate the diversification and the transformation of the retail sector.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    good analysis its awesome, you doing good job

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    USDCAD Eases Selling Pressure, Eyes 1.35 Level

    FxNews - Today, the USDCAD experienced a reduction in selling pressure, settling below the flag's median line. The pair is now finding its footing below the middle line, around the 64.8% Fibonacci level on the 4-hour chart. A bearish movement towards 1.35 is anticipated, matching the 78.6% Fibonacci level.




    A closer look at the 4-hour USDCAD chart reveals a divergence in the Awesome Oscillator with its bars turning green, while the RSI indicator suggests the likelihood of a price correction. The pair is currently restrained by the 23.6% Fibonacci level, which is preventing it from recovering more of its recent losses.



    As long as it stays below this level, the price is expected to fluctuate within the 1.35 to 1.36 range.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    EURUSD: Testing the Waters at 1.096

    In the EURUSD market, the bears are currently putting pressure on the 1.096 support level. At the same time, the RSI indicator has exited the overbought zone, yet there's a noticeable divergence present. If the EURUSD manages to stay above 1.0963, the market sentiment is likely to remain bullish.



    However, if the price of EURUSD dips below 1.0963, this bullish trend may pause. In this case, the focus will shift to how the market responds to the pivot point, which is also backed by the lower boundary of the bearish channel.​

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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