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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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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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[SOLIDECN]

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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[Solid ECN]

Inflation in the EU Below Expectations!​

• Annual inflation rate in the Euro Area fell to an eight-month low of 8.5% in January from 9.2% in December, below market forecasts of 9%, preliminary estimates showed.​
• Core inflation remained unchanged at 5.2%, while markets expected drop to 5.1%.​
• Unemployment rate 6.6% above market estimates of 6.5%..​
• Inflation slowed in Italy, Ireland and the Netherlands, but edged higher in Spain and France.​
• The data for Germany inflation is not available though, as the country's statistical office had to delay the release of its own figures due to technical issues with data processing.​
• In January, energy prices rose at a slower pace (17.2% vs 25.5%) and services inflation also eased (4.2% vs 4.4%) while cost increased faster for food, alcohol & tobacco (14.1% vs 13.8%) and non-energy industrial goods (6.9% vs 6.4%). Compared to the previous month, consumer prices fell 0.4%, the same as in December, led by a 0.9% decline in energy cost.​

Core inflation remains at record levels.



Core inflation remains at record levels.​

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Chart of the Day EURGBP​

EURGBP is one of major currency pairs that may see some more volatile moves today. This is because the Bank of England and European Central Bank are scheduled to announce monetary policy decisions at 12:00 pm GMT and 1:15 pm GMT, respectively. Both are expected to deliver 50 basis point rate hikes.

While ECB members have been quite vocal about the fact that a 50 basis point rate hike is appropriate for today's meeting, recent cycle pause from BoC and slowdown from Fed raises questions whether ECB will alter its approach. A 50 bp rate move looks like a done deal and should the ECB commit to another 50 bp rate hike in March, EUR may benefit. A 50 bp rate hike and a hint that pace of rate increases will slow going forward would be EUR-negative and may support European stock market indices.

On the other hand, things look less rosy when it comes to the Bank of England. The UK economy is facing a recession and BoE knows it very well. Higher interest rates are magnifying the so-called "cost of living crisis" in the United Kingdom and while another rate hike could help combat inflation, Bank of England is facing an increasing public backlash over its tightening. Having said that, there is a scope for a dovish surprise with BoE going in with a 25 basis point rate hike.

Taking a look at EURGBP chart at D1 interval, we can see that the pair has managed to climb above the 0.8880 resistance zone today and has even briefly traded at the highest level since late-September 2022. If ECB provides more fuel for the upward move by hinting at another 50 bp rate hike in March, the pair may look towards the 0.8990 swing area that was tested a few times in the 2019-2020 period and marks a local high from late-September 2022. A dovish Bank of England would also support a bullish scenario on the pair.​

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Gold Technical Analysis​

Gold price ended yesterday below the bullish channel’s support line that appears on the chart, to start bearish correction for the rise measured from 1616.65 to 1959.75, on its way to visit 1878.8 as a first correctional target.

Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 1928.6 will stop the current negative pressure and lead the price to regain the main bullish trend again. The expected trading range for today is between 1890 support and 1930 resistance.​

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Crude Oil Price Presses on the Support​

Crude oil price attempts to break 75.65 level, to hint heading to achieve more decline in the upcoming sessions, organized inside the bearish channel that appears on the chart, to target 74.10 areas initially.

Therefore, the bearish bias will be suggested for today, noting that breaching 76.2 will stop the expected decline and lead the price to recover and attempt to build bullish wave on the intraday basis. The expected trading range for today is between 73.8 support and 77 resistance.​

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[Solid ECN Securities]

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.​

---

---

Visit solidecn.com
Trust Score 4.9​

 

[SOLIDECN]

EURJPY Technical Analysis​

The EURJPY pair started to form new correctional bullish wave to surpass the additional barrier 141.75 and notice recording some gains by touching 142.85 level.

Continuing to consolidate above the breached barrier reinforces the chances of renewing the correctional attempts for now, to expect targeting 143.60 and 144.00 levels, while gathering the additional negative momentum and crawling below 141.75 will activate the bearish track again, to increase the chances of crawling towards 141.10 followed by repeating the pressure on 140.25 obstacle.

The expected trading range for today is between 141.75 and 143.60.​

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XAUUSD - Global demand for gold remains at a record high​

Yesterday, gold quotes recorded the most significant drop since last June, dropping by 90.0 dollars from 1950.0 to Friday's low at 1860.0, the key driver of which was the growth of the US dollar from 101.500 to 102.900 in the USD Index against the background of a strong report on the US labor market. Investors perceived the movement as a local correction, which will not receive a serious continuation since the fundamental global background does not contribute to the decline in the asset: according to the report for 2022, global demand for gold amounted to 4.741K tons, which is an absolute record since 2011. Most of the positive momentum came from central banks' purchases, which mostly wished to remain anonymous. According to experts, regulators thus hope to protect themselves from possible sanctions, providing strong support for national economies.

On the daily chart, the trading instrument is correcting, keeping around the support line of the rising corridor. Technical indicators weaken the buy signal.

Resistance levels: 1900, 1960 | Support levels: 1860, 1800​

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GBPUSD Crawls Downwards​

The GBPUSD pair approach 1.2000 barrier, showing tight sideways trades now, noticing that stochastic loses its positive momentum gradually, waiting to motivate the price to resume the bearish bias that targets testing 1.1940 level as a next station.

Therefore, the bearish trend scenario will remain valid and active conditioned by the price stability below 1.2115. The expected trading range for today is between 1.1950 support and 1.2100 resistance.​

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NZDUSD Faces Solid Support​

The NZDUSD pair found solid support at 0.6290, to show some slight bullish bias and begins attempts to build bullish wave, but it loses the positive momentum clearly, which might force the price to decline again and attack the mentioned level in attempt to achieve more bearish correction.

Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaking the mentioned support will push the price to head towards 0.6210 followed by 0.6140 levels as next negative targets, while breaching 0.6365 represents positive factor that will lead the price to recover and achieve gains that start at 0.6445. The expected trading range for today is between 0.6260 support and 0.6380 resistance.​

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USDCHF Crawls Upwards​

The USDCHF pair shows calm positive trades to gradually approach our waited target at 0.9315, to keep the bullish trend scenario valid and active as long as 0.9220 level remains intact.

Note that breaching the targeted level will extend the bullish wave to reach 0.9475 areas on the near term basis, while breaking 0.9220 represents negative factor that will push the price to the main bearish track again.

The expected trading range for today is between 0.9200 support and 0.9360 resistance.​

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XRPUSD - Technical analysis​

The XRPUSD pair has been actively growing since the beginning of this year as part of the general market trend. However, at present, the upward dynamics have seriously slowed. The price reached three-month highs around 0.4290, after which it rolled back to 0.3906 (Murrey level [8/8]). Fixation below it will give the prospect of further decline to 0.3662 (Murrey level [7/8]) and 0.3418 (Murrey level [6/8]). If the quotes consolidate above the resistance zone of 0.4050 – 0.4150 (middle line of Bollinger bands, Fibonacci correction 38.2%, Murrey level [+1/8]), growth may continue to 0.4395 (Murrey level [+2/8]), 0.4565 (Fibonacci retracement 61.8%) and 0.4750.

Technical indicators point to the continuation of the uptrend. Bollinger bands are directed upwards, Stochastic is reversing upwards from the oversold zone, and the MACD histogram is stable in the positive zone.

Resistance levels: 0.415, 0.4395, 0.4565, 0.475 | Support levels: 0.3906, 0.3662, 0.3418​

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EURUSD Technical Analysis​

The EURUSD pair declined clearly yesterday to approach our waited target at 1.0635, but it bounced bullishly to test 1.0745 again, and it keeps its stability below it until now, to keep the bearish trend scenario valid for the upcoming period, noting that surpassing the mentioned target will push the price to 1.0515 as a next negative station.

On the other hand, we should note that breaching 1.0745 will stop the expected decline and lead the price to attempt to regain the main bullish trend again. The expected trading range for today is between 1.0640 support and 1.0800 resistance.​

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Solid ECN Affiliate Program​

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At Solid ECN we enable our affiliates by offering technology, support, and tailored tools (including banners and widgets) to have a world-class, hassle-free experience!

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USDCAD Attempts to Recover​

The USDCAD pair approached 1.3350 level and bounced upwards clearly to test the first key resistance 1.3450, consolidating below this level until now, noticing that stochastic shows clear negative signals now, waiting to push the price to resume the bearish trend that its targets begin at 1.3350 and extend to 1.3280 after breaking the previous level.

Therefore, the bearish trend scenario will remain valid conditioned by the price stability below 1.3450 and 1.3500 levels. The expected trading range for today is between 1.3350 support and 1.3490 resistance.​

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Crude Oil Technical Analysis​

Crude oil price crawls upwards to reach the thresholds of 78.90 level, reminding you that breaching this level will extend the bullish wave to reach 80.40. Until now, we still suggest the continuation of the bullish bias on the intraday basis as long as 77.05 level remains intact, as breaking it will turn trades to decline towards 75.65 before any new positive attempt.

The expected trading range for today is between 77.00 support and 80.00 resistance. The expected trading range for today is between 83.60 support and 87.00 resistance.
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Chart of the Day - USDCHF​

Swiss franc strengthened on Monday after the annual inflation rate in Switzerland jumped to 3.3% YoY in January, the highest reading since September 2022, from 2.8% in the prior month and above analysts' estimates of 2.9%, which should support the case for further SNB policy tightening. Pair may experience increased volatility ahead of tomorrow’s US inflation data that could reinforce the case for more Federal Reserve interest rate hikes.

From technical point of view, the pair broke below the local support at 0.9235, which is marked with previous price reactions, 23.6% Fibonacci retracement of the latest upward wave and 200 SMA (red line). As long as price sits below, downward move may deepen towards next major support at 0.9200, which coincides with the lower limit of the triangle formation, 50 SMA (green line) and 38.2% retracement.​

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