EURAUD looking interesting on break of 20 DMA

2016-07-22_15-51-00

EURAUD, Daily            

The EURAUD pair first caught my eye yesterday (July 21) after a long sustained (over 30 day) down move from the May 24 high. It  formed a five day floor around the 1.4520 level earlier this week and then rallied and attempted to break the 20 DMA and 23.6 Fibonacci zone around 1.4730-1.4750.  A close above 1.4730 on the Daily chart will generate a LONG position with Target 1 at 1.4870 and Target 2 1.5025.

2016-07-22_16-35-43

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

GBPAUD did not run out of steam in time

2016-07-22_12-44-22

GBPAUD, H4            

Our 4h GBPAUD Short trade yesterday was stopped out. Accepting a loss is part of successful trading and probably one of the most difficult psychological factors to overcome. However as with any business it is important to accept your losses, learn from them and move on.  Good Risk and Money Management keep you in the game and allow you to keep trading.  The trade has been logged in our Trading Journal and we wait for the next wave on the trading ocean to arrive.

As I type the pair is back through our entry price (1.7596) and looks like it could hit our 50 pip target, (1.7546) following the very poor UK PMI data. That is how it goes sometimes.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

PMI – UK Big miss, Germany & France OK

2016-07-22_12-02-00

GBPUSD, H4            

UK flash July PMI plunged to 47.7 in the composite reading from 52.2 in June and below the median forecast for a decline to 48.5. The headline and nearly all of the component parts fell at the lowest levels since the height of the financial crisis in early 2009, giving a clear indication of the impact that the Brexit vote has had. Markit, the compiler of the survey, described the data showing a “dramatic deterioration in the economy,” estimating that the data is signalling a 0.4% contraction in Q3 GDP, assuming that August and September continue the slowing seen this month. A sharp drop in new orders, to 45.5 from 52.3, and a dive in the expectations component of the services PMI, both good leading indicators of the economy, suggest that the pain will continue. Sterling dove over a big figure to a 1.3165 low versus the dollar in the wake of the data release. The flash indicator is based on 80% of responses to the full survey. Final data will be released at the beginning of August.

The 4h chart has support at the 20 MA at 1.3182 and 1.3110 and resistance at 1.3275.

Meanwhile across the English Channel, French and German PMIs better than expected. French manufacturing as well as services PMIs unexpectedly improved in July, and while the German manufacturing reading eased, it fell back less than feared and remains firmly above the 50 point no change mark, while the services reading actually jumped higher. So a confirmation of what French national business sentiment numbers already indicated yesterday, namely that the impact of the Brexit vote on real sector sentiment has been limited so far, even as uncertainty increases. The financial sector by contrast has been hit severely, which confirms the issues Draghi raised yesterday – the apparent divergence between financial market and real sector confidence.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Macro Events & News for 07.22.2016

2016-07-22_0828

FOREX News Today

European Outlook: Asian stock markets moved broadly lower, led by a more than 1% decline in Japanese bourses, after BoJ’s Kuroda dampened hopes for “helicopter money”, saying that there is currently “no need and possibility for helicopter money”. The reaction highlights how much markets are still relying on stimulus hopes and U.S. and U.K. stock futures are also heading south, pointing to opening losses on European markets, which would give Bund and Gilt futures the chance to recover from yesterday’s dip. Bunds underperformed yesterday as Draghi re-affirmed the wait and see stance and today’s PMI readings from Europe and the U.K. will be watched carefully amid signs of a growing split between financial market and real sector assessments of the impact of the Brexit impact. The ECB also publishes the results of its survey of professional forecasters.

ECB Wait and See Until September: The ECB didn’t spring any major surprise today, with Draghi effectively confirming the central bank’s wait and see stance at least for now. Uncertainty has clearly risen but so far seems to affect financial markets much more than the real sector and central bankers – not just in the Eurozone – want to have more time to assess the real impact of the Brexit vote. An overreaction now may lay the ground for difficult corrections now, but at the same time Draghi left the door to a policy review in September wide open and was eager to stress that the central bank is not just willing, but also able to act again if necessary. The ECB did the expected today and left policy unchanged. The Brexit referendum turned out to be not quite the Lehman moment many had feared and after the initial turbulence stock markets have settled down again and the DAX is back above the psychologically important 10000 mark, while Eurozone spreads have stabilised. And while central banks on both sides of the channel stepped in to ensure that there were no liquidity shortages, especially at the ECB the prevailing feeling seems to be that more time is needed to assess the longer term implications of the U.K.’s decision to leave the EU.

US Data Reports: Today’s U.S. reports revealed a July headline Philly Fed drop to -2.9, but with big component gains for all but prices that left a stronger than expected report, alongside a 1k drop in initial claims to 253k in the BLS survey week that leaves a tight path for claims through the auto retooling period. The mix suggests upside risk for our 180k July payroll estimate. We also saw a 1.1% June existing home sales rise to a 5.57 mln new cycle-high that left a 9.9% four-month sales bounce though the important spring months, alongside a 16.8% four-month median price rise to a new all-time high of $247,700, and a 0.3% June leading indicators bounce that leaves a big Q2 climb in this gauge alongside the assumed bounce in GDP growth to 2.7% in Q2 from 1.1% in Q1.

US VIX equity volatility vaulted nearly 9% higher to the 12.79 highs as stocks finally caved in and declined after successive gains of late. Intel slumped over 4% and risk aversion popped up after the terror arrests in Brazil. That saw the yen, gold and Treasuries catch a bid at the expense of stocks and help reverse the VIX, which hit a trend low of 11.40 yesterday, just ahead of year lows of 10.88. The VIX 200-day moving average back up near 17.34 may provide a handy near-term target for those who don’t believe complacency is a great hedge ahead of partisanship and electioneering this fall. Meanwhile, the S&P 500 has stalled under its 2,175 all-time high after surging from Brexit lows of 1,991 on June 27, with its 200-day m.a. way down at 2,036.3.

Main Macro Events Today

  • Euro Area, UK and US all publish  PMI Today’s release of preliminary PMI readings marks the first major real sector survey since the Brexit vote and expectations are for a marked dip in confidence. We are looking for a decline in the manufacturing reading to 52.2 (med 52.0) and a dip in the services number to 52.3 (med same) from 52.8. There is some chance of an upside surprise after French national confidence numbers yesterday unexpectedly improved and Draghi also highlighted yesterday that there seems to be a marked disparity between financial sector assessments of the Brexit vote and economist estimates and real sector views.
  • CAD Retail Sales & CPI  We expect today’s CPI release to reveal a 0.2% m/m gain in June CPI (median +0.1%)on a not seasonally adjusted basis following the 0.4% increase in May as higher gasoline prices provide another boost. CPI is projected to expand at a 1.5% y/y growth rate in June (median +1.3%), matching the 1.5% pace in May. The Bank of Canada’s core CPI index (CPI-X) is anticipated to slip 0.1% m/m in June, in line with the moves seen in recent months of June, after the 0.3% gain in May. The CPI-X should slow to a 2.0% y/y pace in June (median same at +0.2%) from 2.1%. In last week’s announcement, the BoC judged that risks to the inflation profile are balanced. This report will not challenge that view.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

GBPAUD Running out of Steam ?

2016-07-21_12-24-15

GBPUSD, H4            

The close of the latest 4 hour candle was sufficient for us to take a SHORT position in this pair following a run up. The UK Retail Sales data (see below) simply added some fundamental momentum.  The 4hour candles had been forming a steady six consecutive march upwards from the Hammer candles of July 19.  The peak bull candle at yesterday’s (July 20) close and with a long wick followed by the following bearish candle with a wick to the south suggested at least a pause in the uptrend or a further retrace.  The 08:00 candle this morning suggested further downside with target 1 at 1.7546 and possible target 2 at 1.7465 where we started a few days ago.

UK June retail sales undershoot expectations due to wet weather, which stirred apathy for summer fashion purchases. The headline sales figure contracted by 0.9% m/m, reversing the 0.9% m/m gain of May. The median forecast had been for a 0.5% decline. The y/y comparison was 4.3%, short of the 5.0% median forecast and down from the 5.7% y/y gain seen in May. It’s not clear if the June 23 referendum, either the run-up or in the initial wake of, had much impact. Anecdotal signs suggest that retail sales dipped in the week after the Brexit vote, but have since rebounded.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Macro Events & News for 07.21.2016

2016-07-21_08-49-02

FOREX News Today

European Outlook: Asian stock markets moved mostly higher overnight, as Yen weakened and as Japan’s Abe is reportedly considering stimulus worth 20 trillion yen, almost double the previous plan, after the U.K.’s decision to leave the EU. U.K. stock futures meanwhile are heading south and U.S. stock futures are also mostly in the red. Mixed leads then for European markets, which will likely be cautious ahead of the ECB meeting today. We expect Draghi to stick to the wait and see stance for now, even if the changed growth and inflation outlook may force the ECB to tweak the QE program again in September, when the next set of forecasts are due. The calendar has French business confidence as well as production data and U.K. retail sales.

RBA Expected to Ease Policy in August: The Reserve Bank of Australia left the door wide open for another rate cut in August if the Q2 CPI report reveals tepid price gains or another quarter of outright price declines. Recall that a drop in Q1 CPI triggered an unexpected rate cut in May. With the pace of GDP growth expected to moderate in Q2 while the global growth outlook remains uncertain, evidence of persistent disinflationary pressures should trigger another rate cut.

US Market Reports: U.S. equities extended gains to fresh highs in the wake of the latest earnings surprises from Morgan Stanley and Microsoft, gathering steam again after their initial pullback from opening gains. Some risk barometers are switching to overdrive, with USD-JPY marked session highs of 106.80 and the VIX equity volatility index down 3.2% to 11.59 (11.40 lows) with an eye on year lows of 10.88 on August of last year. Risk proxy gold, has also traded down to $1,313 overnight and is struggling to clear $1,320.

Reuters poll: 60% probability of recession in UK over the coming year as a consequence of the activity-disrupting uncertainty thrown up by the vote to leave the EU. The median view is for 0.0% GDP in Q3 and -0.1% in Q4. For 2016 as a whole, growth is seen at 1.4%, down from 1.9% at the previous (pre-Brexit) survey, and for 2017 growth is seen at 0.6%, hacked from 2.1% previously. The BoE is expected to cut the repo rate to 0.25% at the August MPC meeting, down from 0.50%, with a minority expecting a cut to zero. The consensus view is for the repo rate to then remain unchanged at 0.25% until the end of 2018 (at the previous poll in early June the view was for the repo rate to be at 1.25% by the end of 2018). The Old Lady is also expected to dust off the QE program next month, which has been on hold since 2012, and expand bond purchases by another GBP 80 bln, adding to the GBP 375 bln already bought.

Main Macro Events Today        

  • ECB Preview  The ECB is likely to maintain the wait and see stance at today’s council meeting, although Draghi is likely to keep the door to further measures wide open. The Brexit vote wasn’t quite the Lehman moment some had feared, but there will be long term implications for the growth and inflation outlook though is clear but for now the ECB is likely to keep its powder dry as the BoE already did at its July meeting. For Draghi the next important date is the September set of updated forecasts and staff projections, which are likely to bring downward revision to growth projections and we expect the ECB to make some changes to its monetary policy then, although it is unlikely to be more than some tweaking of the QE program. Rate Announcement – 11:45 GMT  Press Conference 45 minutes later at 12:30.
  • UK Retail Sales  Expectations are for a fall to -0.6% from 1.0% for Retails sales ex- fuel. (MoM). YoY sales are expected to drop to 5% from 6%.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Trading Signals For 07.21.2016

Free Forex Trading Signals For 07.21.2016

Free Forex Signals#UDSX          97.50—-96.80       Buy at the Buttom,            Sell at the Top,                  Stop Loss 30 pips
EUR/USD     1.1050—-1.0960    Buy at the Buttom,            Sell at the Top,                  Stop Loss 40 pips
GBP/USD     1.3270—-1.3150    Buy at the Buttom,            Sell at the Top,                  Stop Loss 40 pips
USD/CHF     0.9930—-0.9820     Buy at the Buttom,            Sell at the Top,                  Stop Loss 40 pips
USD/JPY      107.75—-106.55     Buy at the Buttom,            Sell at the Top,                  Stop Loss 40 pips
AUD/USD     0.7510—-0.7430    Buy at the Buttom,            Sell at the Top,                  Stop Loss 40 pips
USD/CAD     1.3140—-1.3030    Buy at the Buttom,            Sell at the Top,                  Stop Loss 40 pips
GOLD           1321.00—1306.00  Buy at the Buttom,            Sell at the Top,                  Stop Loss 6 $
Silver             19.60—19.20          Buy at the Buttom,           Sell at the Top,                  Stop Loss 0.20 $
Oil                  46.20—44.70          Buy at the Buttom,           Sell at the Top,                  Stop Loss 0.50 $

Keywords:Forex Trading Signals,Forex Trading Strategy,Forex Trading System,Free Forex Analysis,Forex Forecast

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

UK Employment at Record Levels…..however

2016-07-20_12-10-28

GBPUSD, H4             

The UK headline unemployment rate fell unexpectedly to 4.9% from 5.0% and employment and inactivity rates registered record highs.

UK unemployment fell by 54,000 to 1.65 million between March and May.  Average weekly earnings including bonuses increased from 2% to  2.3%, in line with expectations.  The employment rate – the proportion of people aged 16 to 64 in work – was 74.4%, the highest since comparable records began in 1971 and the Office of national Statistics also reported that the inactivity rate rates those 16-64-year-olds not working and not seeking work – was 21.6%, the lowest since 1971. The new finance minister Philip Hammond “Today’s employment and wage figures are proof that the fundamentals of the British economy are strong”.

All this is a pre-Brexit snapshot. The median forecast had been for an unchanged 5.0% outcome. The more timely claimant count figures, for June, painted a slightly different picture, with jobless claimants rising fractionally, with May data revised to 12.2k from -0.4k reported originally. All this is what we’re seeing in the rear view mirror; a view that’s changing for the worst in the wake of the Brexit vote.

A survey of 1,000 heads of businesses by the Institute of Directors, conducted in the two days after the vote to leave the EU, found that 24% were planning to freeze recruitment, 5% were planning on making reductions, and 22% were considering moving some of their operations abroad (versus only 1% who said they were bringing their operations back).

Sterling spiked up on the release of the headlines with cable touching 1.3175, GBPJPY up to 140.30 and EURGBP down to 0.8350.  Our Quarterly position on Cable remains and we are still in our SHORT GBPUSD trade from July 14th.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Macro Events & News for 07.20.2016

2016-07-20_09-32-44FOREX News Today

European Outlook: Asian stock markets are mixed, with Japan underperforming and closing down for the first time in seven days, as the strengthening Yen weighed on exporters and markets take a breather after recent gains. U.S. stock futures are also down, but FTSE 100 futures are moving higher, as a weaker currency increases appetite from foreign investors. The ECB will likely follow the BoE’s example and take a wait and see stance for now at tomorrow’s meeting but falling yields may force the central bank to tweak the QE program again in September. Today’s calendar has German PPI at the start of the session, as well as U.K. labour market data for June, which will give a picture of the momentum in jobs markets ahead of the referendum. The Eurozone has BoP and current account data as well as consumer confidence in the afternoon.

IMF cut its global growth estimate to 3.1% in 2016 from 3.2% previously, in its quarterly World Economic Outlook update, on the back of Brexit uncertainties and fallout. It also lowered its 2017 forecast to 3.4% from 3.5%. Before Brexit, the Fund had planned on boosting its estimates. Growth could be as soft as 2.8% under a severe Brexit scenario. The Fund maintained its forecasts for 2.2% U.S. growth, and 1.6% for the Euro area. China was bumped up to 6.6% from 6.5%. Japan was knocked to 0.3% from 0.5% due to the firmer yen.

IMF trimmed its UK growth forecast: 2016 to 1.7% and 1.3% for 2017, nearly one percentage point below its previous projection but still much more optimistic than most. The IMF is assuming “limited” repercussions from exiting the EU, specifically that the UK will strike up a Norway-like deal, which grants unfettered access to the single market but at the price of maintaining open borders and payment of EU fees, but without any influence. Given what we know about the stance of the UK government and what Leave voters voted for, it has to be said that this looks unlikely at the moment, although it’s conceivable there could be backtracking as the economic consequences of the prevailing uncertainty (recession by divestiture) become more apparent. The European Commission, by contrast, revised its UK GDP forecast to -0.3% y/y for this year, and this in a “mild” Brexit scenario, and to -0.9% y/y next year, and -2.6% y/y in the case of a “severe” Brexit scenario.

US Market Reports: A lean data calendar may have contributed to a brief hiccup on rates Tuesday, but it wasn’t sustained as stocks drifted lower from recent historical highs. On the one hand, housing starts surged 4.8% in June, but on the other hand, this was from downwardly revised levels on May and April. The IMF cut global growth forecasts, which curbed enthusiasm for stocks on the margin, while nerves began to fray in Europe and Turkey again. WSJ Fedwatcher Hilsenrath continued to view September as the most likely month for the next Fed hike, though such a move as early as next week remains out of the question.

Main Macro Events Today        

  • UK Earnings and Jobs Numbers  – 08:30 GMT  – UK Average earnings including Bonus are expected to rise to 2.3% from 2.0% and Claimant count for June expected to rise by 4,000 from a decline of 400 last month. The unemployment rate expected to remain unchanged at 5%.
  • US Crude Oil Inventories – 14:30 GMT – Last week’s  draw down of 2.55 mln barrels was greater than expected and added to pressure on the oil price, this week is also expected to be a draw down but reduced to 2.23 mln barrels.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Free Forex Trading Signals For 07.20.2016

Free Forex Trading Signals For 07.20.2016

Free Forex Signals#UDSX          97.50—-96.70        Buy at the Buttom,            Stop Loss 30 pips,     Target at the Top
EUR/USD     1.1050—-1.0950      Sell at the Top,                  Stop Loss 40 pips,     Target at the Buttom
GBP/USD     1.3190—-1.2950      Sell at the Top,                  Stop Loss 40 pips,     Target at the Buttom
USD/CHF     0.9910—-0.9820      Buy at the Buttom,            Stop Loss 40 pips,     Target at the Top
USD/JPY      106.50—-105.20      Sell at the Top,                  Stop Loss 40 pips,      Target at the Buttom
AUD/USD     0.7550—-0.7400     Sell at the Top,                  Stop Loss 40 pips,     Target at the Buttom
USD/CAD     1.3120—-1.2960     Buy at the Buttom,            Stop Loss 40 pips,      Target at the Top
GOLD            1336.00—1325.00   Buy at the Buttom,           Stop Loss 5 $,              Target at the Top
Silver             20.05—19.80           Buy at the Buttom,            Stop Loss 0.15 $,          Target at the Top
Oil                  46.00—44.80           Sell at the Top,                  Stop Loss 0.50 $,         Target at the Buttom

 

 

Keywords:Forex Trading Signals,Forex Trading Strategy,Forex Trading System,Free Forex Analysis,Forex Forecast

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