Signals Articles

NZDUSD Update: Target 1 hit at 0.7110

Forex Analysis
Chart_16-06-10_13-27-14

NZDUSD, 5 min

I posted earlier today a brief intraday analysis in Facebook saying that I was seeing support in NZDUSD at 0.7080-0.7090 and that there’s an attempt to take the pair higher. My Targets were as follows: T1 at 0.7110 and T2 at 0.7150.

Price retraced to my support area quite a few times but eventually broke out and had a healthy run to my Target 1 at 0.7110. If you want to lear about trading and analysis, our free webinars are just the right place for you. Join now by clicking the link below. I really look forward to seeing you there!

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.

GBP What a volatile week…and more to come

Forex Analysis
2016-06-10_11-57-05

GBPUSD, Daily        

Sterling has seen a bout of Brexit-related volatility today (and this week), dipping sharply against the dollar, euro and other currencies, before whipping back some. One-month implied volatility for Cable spiked to a new six-year high of 23.7%, up 2 points on the day, as Cable clocked a six-day low at 1.4410. The pair has since recouped above 1.4440. EURGBP spiked from sub-0.7810 levels to over 0.7850, since settling around 0.7830. In a word, choppy, and very much reflective of the fast nearing referendum, which takes place the Thursday after next. Televised debates between Remain and Leave campaigners reached fever pitch this week, stirring a sense of unease among onlookers. The FT’s poll tracker continues to show a narrow 2 percentage point lead for the Remain camp, with 45% support versus 43% support for Leave. Despite the narrowness of this, Bookmaker Ladbrokes is showing that the betting market is giving a 74% probability for the UK remaining in the EU, up from the 69% nadir seen earlier in the week after a spate of polls suggested a shift in support in favour of Leave. Our hunch is that the 12% of undecided voters — who presumably lack the headstrong conviction for leaving the EU like true Brexiters — will be more likely to fall on the Remain side of the fence, if only out of fear of near- to-medium term economic consequences of Brexit.

Construction output data and the BOE Consumer Inflation expectations both beat their consensus figures. Consumers now expect the price of goods and services over the next 12 months to rise by 2.0% compared to 1.8% in the last quarter.

GBPUSD is currently 1.4431 having traded as low as 1.4409.  DAILY near term support at 1.4415 and resistance at 1.4545. 1.4700 remains the longer term resistance level as the pair bounces between the 20 DMA and 50 DMA.

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.

NZDUSD at channel high but near support

Forex Analysis
Chart_16-06-10_11-03-29

NZDUSD, Daily

NZDUSD rallied strongly after the RBNZ didn’t cut the rates after the governor Wheeler had been suggesting there might be a need for further easing. He said, “Further policy easing may be required to ensure that future average inflation settles near the middle of the target range. We will continue to watch closely the emerging flow of economic data.” This took the pair beyond the 0.7054 resistance which is now likely to act as a support.

In in the daily picture NZDUSD is trading outside the upper Bollinger Bands and near a channel high which has already meant that the buyers find it difficult to take the pair higher. It has resulted in a shooting star candle in the daily timeframe and a potential roll over of the Stochastics oscillator. These are bearish signs and could lead to price drifting lower towards the 0.7054 support. However, the 0.7054 support is relatively near and is likely to put off the shorts at the current levels. This should lead the market to rally attempts from the supports.  The intraday support and resistance levels are at 0.7080 – 0.7090 and 0.7140 – 0.7150 while daily support and resistance levels are at 0.7054 and 0.7148.

I posted earlier today a brief intraday analysis in Facebook with long targets at 0.7110 and 0.7150. Price has since rallied almost to my T1 but retraced then back into the support with the upside momentum fading. Just at the time of writing there’s been some buying coming in (current price at 0.7096) with price creating higher lows in small time frame charts. If the support holds and NZDUSD moves to my T2 at 0.7050 the probabilities of market breaking higher will increase.

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.

US Wholesale Inventories up EURUSD down

Forex Analysis
2016-06-09_17-11-24

EURUSD, H1        

US wholesale sales rose 1.0% in April, with inventories up 0.6%. The former is a little below forecast, while the latter was stronger than expected. March sales were revised to a 0.6% gain compared to the 0.7% previously. March inventories were bumped up to 0.2% from 0.1%. April posted broadbased gains with only the auto inventory component posting the only decline for the major categories. The inventory-sales ratio slipped to 1.35 from 1.36, though that’s considerably above the 1.19 level from mid-2014, with such a steep spike typically only seen in recessions. The data will help refine GDP forecasts.

The dollar has traded mixed in the wake of the wholesale trade data out of the US EURUSD logged a six-day low of 1.1306, though the USDJPY only briefly rose before subsequently whipsawing and settling to near net unchanged levels. The interpolation of this is fresh lows in EUR-JPY, which is foraying into further into 39-month low territory. The Euro’s bad day continues.

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.

JPY keeps on giving, 105.50 awaits USDJPY

Forex Analysis
2016-06-09_16-02-40

USDJPY, Daily        

USDJPY, had been heading south all day on yen outperformance, logging a one-month low at 106.25. Japanese core machinery orders dove 11.0% m/m in April, well off the median for a 2.3% drop and the biggest monthly dive in almost two years. The data had little bearing on the yen, however, which has been buoyed by a risk-off backdrop. Sharp losses were seen in EUR-JPY, which fell into 39-month terrain. USDJPY has since recovered a little on the publication of US initial jobless claims and currently trades at 106.60.

US initial jobless claims for the week ending June 4 fell 4k to 264k, following an unchanged dip to 268k (revised from 267k) for the week of May 28. It’s the lowest level since April 23, and leaves the 4-week moving average at 269.5k versus 277k (revised from 276.75k). Continuing claims dropped 77k to 2,095k for the May 28 week after rising 12k to 2,172. The BLS said there were no special factors impacting claims last week.

The Daily chart has support at 106.25 which we touched earlier today and 105.50. Resistance for the pair sits at 107.90 and 109.20.

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.

USDZAR In an Interesting place

Forex Analysis
2016-06-08_12-48-22

USDZAR, Daily        

Last month (May 16th) the USDZAR trade hit Target 1 (15.5380)  from our entry at 15.2322 before turning at 15.9742, less than 3 pips from Target 2 (16.0000).

On Friday S&P Global ratings affirmed South Africa’s investment-grade credit status, that, together with the poor US Non-farm payroll jobs report helped the USDZAR to one month lows on Monday. This also coincided with a break of the 50 DMA and the key psychological 15.0000 level, from a technical perspective this has been positive for the rand and negative for the USDZAR pair.

The next key level is the 200 DMA at 14.8540, which has held for two days.  A breach and break of this long term support area could take the pair to 14.2340 (2016 low) and further down to 13.9020.  A break above 15.5000 would be required for long positions to be considered.

Trading the exotic pairs brings some additional risks and rewards. The lower liquidity and higher spreads means that trades should be carefully constructed and evaluated before executing. As we always emphasize your trading capital is your most important asset and you should always trade with strict risk management rules.  “Trade what you see not what you think”, apply your rules consistently and you can be successful regardless of the asset or time frame you choose to trade.

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.

Crude Oil Target 3 hit with Chinese oil imports up 38%

Forex Analysis
Crude oil

Crude Oil, daily

Crude oil price is at the time of writing trading higher with support given to it by the hefty increase in Chinese import numbers, low  US oil inventories and fears that Nigerian oil production might attract new attacks from the rebels. Chinese trade data published today showed that crude oil imports to China rose 38.7% in May YoY. This was the biggest jump in the last six years and increased hopes that the Chinese economy (the world’s second-largest oil user) may be stabilizing. Now, that further supply distractions are possible and market participants believe that the oil market is becoming more balanced it prices are supported by the bidders.

I wrote in my May 5th report that wildfires in Canada’s oil sands area and fighting in Libya threatened the North African output and that together with the bullish technical picture we should see the prices moving higher. I gave a buy area ($43.20 – $44.00) together with three targets which have now been met after price first retraced to my buy area. The third target was at $50 to $51 range which is exactly where the market is trading at the time of writing this report.

The $50.89 resistance was able to turn the price lower in October last year and in theory could therefore act as a resistance again. However, the uptrend has been solid with the oil market finally finding (supply – demand) balance supporting higher prices. Also, the US driving months are ahead of us now. American holiday season traditionally increases demand while the Houston oil producer conference participants in May signaled that they will not be adding production before they’ve seen the price of oil settling in the range of $50 to $60. I’ll be looking for buy signals at supports as long as the uptrend is intact. The nearest daily support levels at the moment are at $49.40 and $50.20.

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.

UK Production surprises to the upside

Forex Analysis
2016-06-08_12-22-41

GBPUSD, Daily        

UK production unexpectedly jumped 2.0% m/m in April and by 1.6% y/y, up from the 0.3% and -0.2% respective outcomes that were seen in March. The median forecasts had been for 0.0% m/m and -0.4% y/y. That was the biggest m/m rise since July 2012. The narrower manufacturing output gauge surged by 2.3% y/y. The unexpectedly strong report defies conjecture that Brexit risk has been taking a toll on economic activity, although PMI survey data is pointing to GDP growth slowing to 0.2% y/y in Q2, which would be half the Q1 figure.

Sterling has been knocked back after rallying following the release to the report. Cable spurted nearly 50 pips higher to a peak of 1.4580 before about-turning to the 1.4540-45 area. The gains offered an opportunity for the Brexit wary to sell. With only two weeks and a day to go to the EU vote, the FT’s poll tracker is showing the Remain campaign only marginally in the lead, with 45% support versus the 43% for Leave. We are of the view that the 12% of undecided voters will come down on the Remain side on the day of the poll. Undecided voters won’t have the headstrong conviction for leaving the EU as the true Brexiters do, and fear of near- to-medium term consequences will, we think, tip them to the vote Remain option. Registration for the poll closed yesterday with many potential voters not registered. According to the UK government’s data website, 525,000 people applied to register to vote during Tuesday – 170,000 were aged 25 to 34, 132,000 under the age of 25 and 100,000 aged 35 to 44.

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.

Strong GDP numbers support ECB’s stancev

Forex Analysis
Chart_16-06-07_12-32-52

Eurozone Q1 GDP was revised up to 0.6% q/q from 0.5% q/q reported initially, and Q4 last year was also revised higher to 0.4% q/q from 0.3% q/q. This means the trajectory is better than initially thought, which backs the ECB view that the recovery remains on track, even if Q1 data have to be taken with a pinch of salt and are likely to be followed by a relatively weak number for Q2.

The breakdown showed that private consumption growth accelerated strongly to 0.6% q/q from 0.3% in Q4 and was the biggest single contributor to the strong quarterly growth rate, which may partly be due to the Easter Effect. Fixed gross investment growth slowed, but still contributed 0.2% points, and government consumption a further 0.1% points, while net exports detracted 0.1% points. Again strong numbers, that will back the ECB’s wait and see stance, even if confidence indicators point to a slowdown ahead.

EURUSD has been reacting favorably to the numbers while the fact that Fed Chair Yellen didn’t put any specific date on the rate hike pressures the USD. Price has been moving higher from a support at 1.1360 and is now at minor resistance at 1.1380. The next significant resistance lies at 1.1445 while some minor resistance exits at 1.1404 – 1.1415.

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.

EURGBP Update: Target 1 hit today

Forex Analysis
Chart_16-06-07_11-24-32

EURGBP, Daily

I wrote yesterday that EUR had rallied strongly against USD and GBP after the stunningly low employment numbers from the US on Friday. I mentioned that as a result EURGBP moved to levels that might not be sustainable. Technical picture was also deteriorating with EURUSD struggling at 1.1355 resistance and EURGBP trading near levels that turned it lower in the beginning of May. Also, the 4h candle was about to create a bearish shooting star candle. Based on these factors I took a view that the price is probably turning lower. EURGBP dropped eventually as GBP rallied on the back of some trading algorithms gone haywire and the pair hit my Target 1 at 0.7776 – 0.7800. According to the method I teach in the webinars gained approximately 4:1 reward to risk was gained.

The pair has now rallied strongly since hitting my first target and is currently reacting lower from an area below a minor resistance level at 0.7834. It is not unusual to see a second leg down after an initial price move lower in volatile market conditions. This move could take the price near to the levels it found support earlier today. The 0.50 Fibonacci retracement level (drawn from the May low to the latest high) is near a 0.7754 support that could prove the be a challenge to the bears if the price moves to these levels. In the daily chart we have bearish pin bar from yesterday’s trading which supports the idea of price moving lower first before it can recover. I would like to meet you in the free webinars that we run on weekly basis. We all should take time to learn more about trading and make sure we know what to do before committing serious money to it. If you would like to become better and more confident trader, feel free to join us! I look forward to meeting you there.

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.