Thread: Liteforex - take your first step to financial freedom

This week’s last day EUR/USD perform narrow trades between 1.5040-1.5068 as a reaction to yesterday's announcement of the head of the European Central Bank Jean Claude Trishe that the Bank will not raise interest rate and the latter will remain 1 per cent for some time.
Trishe was expected to make vociferous claims which yesterday led to growing demand for risky assets and gold. Market players assumed that the head of ECB will announce stimulative monetary policy is about to come to an end and that economic growth will be sharp and substantial. Meanwhile, Trishe declared that the economy shows a positive trend and has stressed that economic rebound will take a turn for the best in 4th quarter, having underlined, that the economy still depends on temporary measures.
The policymaker seemed to be very accurate and prudent when making his statements, especially concerning the plans to call back stimulus program, hence euro did not perform any sharp changes.
Today, on Friday Forex investors’ attention drawn to factor orders indicator in the USA for October, and also to US labour market.
In case labour market data is not encouraging enough and the number of cut-offs reaches more than-190 thousand, the key support level of EUR/USD valued at 1.4820-1.4825 would not be able to sustain the pressure, and the new path to 1.4630 will begin, though the trend would be short-term. Moreover, if correction actions are too tight, the trend may turn to 1.4360.
Meanwhile, analysts still believe euro has something in store. Experts forecast ascending trend on Forex market for European currency, as euro still has way to go and that way may be amounted at 1.5285 – 15-month’s maximum – during the forthcoming sex months in case all the economic basis for the trend remain the same: high oil prices and new gold price tops.

boys and girls, I made it! I just closed with +111 pips profit. :) you wanna know how? this was astrology that helped me! i noticed a long time ago it really works! last friday I went to my astrologer who recommended me not to worry because on monday eur would go down. there was simply no other way for it to end! :)) hey, Shuvalov! were you not the one who was telling me to close with few hundred bucks loss? lol, maybe you’d better go and read smth to become real professional? :)))

Irochka, it's nice to hear about your success, especially taking into account the ways it has been achieved =)
However, here's some information that might be interesting:

On Monday morning, despite recent strengthening of european currency, EUR was traded 1.486-1.490 dollars, having no chance to get higher that 1.4900 because the interest to USD. Dollar grows today against major currencies, and the short-term ascending trend of US dollar is not something outstanding. The only exception today is yen which partially wins back Friday’s shameful falling.
On Monday dollar is also supported by positive macroeconomic data on labour market, showing 20% against 10.2% earlier. Together with the USA labour market indicators (-11 thousand unemployed) investors have acted against former practice - they began to buy dollars. Apparently, owing to market optimism the Fed has reviewed its intentions concerning interest rate: at first it was expected to increase not earlier than 2012 but now it is predicted to happen in the middle of 2010.
Friday’s data on labour market should not be overestimated though – it was a first silver lining, a sign of recovery but still each tenth American has no job. Therefore preliminary interest rate increase is quite doubtful, as there are still problems with labour market. In addition, we shall stress, that the Fed is unlikely to embark on loose monetary policy soon - after all it is very convenient for the economy in current conditions of falling consumer demand, low inflation and absence of price pressure. Hence, the conclusion might be as follows: dollar will remain cheap for some time as its growth today was nothing else but great expression of investors’ optimism.
Today in second half of day the number of speculative transactions in the currency market can grow, as for lack of any significant macroeconomic statistics, hence, traders will cautious about performance of Mr. Bernanke, the head of the Fed, at 20:00, Moscow time. But the dollar is unlikely to break through 1.4720-1.4850 even if Bernanke’s speech is very encouraging.
Now it seems obvious that dollar’s growth this Monday is a temporary reaction; on the other hand in the next six months Euro will show substantial growth.

Looks like forecasts concerning future fall of dollar are doubtful:
Monday, December the 7th shown that market is getting a new trend and allowed to make forecasts for the near future. The fact that dollar kept its positions is a sign that last Friday's motion was not a short-term reaction to the unexpectedly positive data on the US labor market. Recent dynamics has revealed the positive approach of investors to both the USA and its currency owing to encouraging data from the continent. It is also important to stress, that even Bernanke’s discreet performance on current situation did not cause more or less significant damage to dollar, even though he put to question last Friday’s market volatility. He tried to convince us that it is necessary to obtain further evidence for the stabilization of labour market before jumping to any conclusions.
In addition, yesterday some important data on consumer credit was published better than expected, while negative trends are still present.
So for now the only occasion that could undermine dollar’s strengthening could be a report on retail sales.
On the other hand, euro seriously disappointed investors by not having regained its positions against dollar. Economic news was mixed. In November the index of public moods was higher than for the last five months in 16 countries of the EU. Euro-zone economy performed slow recovery in the third quarter, after European governments have spent billions of euros on anti-crisis measures, and the global economy continues to gain momentum, thereby increasing demand for European exports.
Euro zone economic Calendar has more issues than that in the United States. Today will be published data on industrial production. It’s interesting to see if fall in foreign demand for the production of this sector has influenced EU economy. Nevertheless, it is unlikely that this data will be of a significant impact on the markets.

Guys, what’ going on? Liteforex trying to scam? I cannot withdraw my money. Hope someone will explain me how I got into this trouble.

Willy M16, please specify your withdrawal problem, or better contact our Support Department

How LiteForex will celebrate the New Year? I remember the summer of your company has done a great holiday for children. Will the company arrange anything interesting for your customers?

Originally Posted by FapTurbo.Name

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You must have hit the wrong thread

Though I was given my money back I should say that your AML policy is terrible. It is too strict. I was treated as a presumed money launderer.

Originally Posted by Willy M16

Though I was given my money back I should say that your AML policy is terrible. It is too strict. I was treated as a presumed money launderer.

Dear Willy M16,
We are sorry for the inconvenience. But we have to follow AML procedure, which has nothing to do with you personally. This procedure was designed for the security of the operations and your money. We hope next time it will be much easier for you to get it back.