Signals Articles

AUDUSD – Target 2 Hit after US data Friday

Forex Analysis
2016-05-16_10-42-29

AUDUSD, H4      

On May 6th I posted “Technically we now have Daily support and downside Target 1 at 0.7330 – the 50% Fib level, which also coincides with the Weekly retracement levels.  Further down we have 200 DMA, support and Target 2 at 0.7260.”

This trade has now achieved both Target 1 and Target 2 within the week following the strong US data on Friday for a net gain of 110 pips. The AUD is heavily influenced by data from China and the weak news over the weekend has pushed the AUDUSD below the 200 DMA and 0.7260 again, only to recover to 0.7290 this morning.

Chinese retail sales and industrial production underperformed in April with annual sales sliding to a 10.1% y/y pace last month, versus 10.5% y/y in March. Slippage was relatively broad-based, with autos tumbling to a 5.1% y/y rate, less than half of the 12.3% y/y from March. Petroleum declined to -3.8% y/y from 0.3% y/y. Industrial production dropped to a 6.0% y/y clip compared to 6.8% y/y thanks to weakness in mining, high energy consumption, and seasonal factors. Renewed signs of slowing in these key indicators could revive the markets’ fears over the economy that dominated at the start of the year, especially as authorities have been aggressively adding to stimulus measures.

Having achieved both T1 and T2 this trade is now closed, however, the pair remains bearish and the Monthly chart shows support at 0.7050 and 0.7000.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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 Consumer Sentiment – A Big Beat

Forex Analysis
2016-05-13_17-20-15

GBPUSD, Daily    

US preliminary May consumer sentiment jumped 6.8 points to 95.8, much stronger than expected, after dipping 2 points to 89.0 in April. It is the highest since last June, and recently has been high as 98.1, reached in January 2015 (which was the best in over a decade). The current conditions index rose to 108.6 from 106.7. The expectations index climbed almost 10 points to 87.5 from 77.6, and is the biggest increase since 2006. The 12-month inflation gauge slid to 2.5% from 2.8%, while the 5-year index sped up slightly to 2.6% from 2.5%.

The Michigan sentiment bounce to a 95.8 eleven-month high reversed a four-month string of declines to 89.0 in April from 92.6 in December, as the index rises well above the 87.2 ten-month low in September but below the 98.1 cycle-high in January of 2015 that marked the strongest reading since January of 2004. The pattern of upward revisions in “final” Michigan sentiment reports has dissipated, given boosts in just four of the last ten months, and an average revision in 2016 of zero. We saw prior average boosts of 0.4 in 2015, 0.6 in 2014 and 1.8 in 2013. We will assume a 95.8 “final” print for May. For other May measures, the IBD/TIPP index rose to 48.7 from 46.3, versus a 54.0 cycle-high in October of 2012. The Bloomberg Consumer Comfort index slipped to 41.7 in the second week of May from 42.0 in the prior week and a 43.0 average in April, versus a 45.7 cycle-high average in April of 2015. We expect a consumer confidence rise to 95.0 from 94.2 in April but a higher 96.1 in March, versus a 103.8 cycle-high in January of 2015.

More positive news for the USD today, USDIndex rallies to a two week high at 94.7 and GBPUSD falls to three week low at 1.4361.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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 Retail Sales beats estimates, PPI inline

Forex Analysis
2016-05-13_16-02-43

USDJPY, H1   

US retail sales jumped 1.3% in April, and were up 0.8% excluding autos, much better than expected following a 0.3% headline decline in March, with the ex-auto component revised up to 0.4% from 0.2%. Excluding autos, gas, and building materials, sales climbed 0.8% versus a 0.1% gain previously (revised from flat). Auto sales bounced 3.2% to erase the 3.2% drop previously. Gasoline station sales increased 2.2% with back-to-back gains unwinding the 5.2% February decline. Non-store retailers increased 2.1%. Miscellaneous sales were up 1.5%. Clothing sales rebounded 1.0%. Health and personal care continued to post strong gains for a 3rd straight month, up 0.9% versus 1.3% previously.

 US April final demand PPI increased 0.2% with the core up 0.1%,  following March declines of 0.1% for both. On an annual basis, producer prices were flat (0.0%) versus -0.1% y/y previously, with the ex-food and energy component expanding 0.9% y/y after the 1.0% y/y gain in March. Inflation in the goods sector grew 0.2% in April after an identical 0.2% gain in March, with energy up 0.2% from 1.8% previously. Food prices fell -0.3% after the -0.9% decline in March. Inflation in the services sector rose 0.1% after an 0.2% decline.

Two good pieces of news for the US economy, (particularly the retail figure).  The USD and US stock market futures both up

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.

Euro area Q1 GDP revised down

Forex Analysis
2016-05-13_12-21-27

EURUSD, H1    

Eurozone Q1 GDP growth was revised down to 0.5% q/q from 0.6% q/q reported initially. Still a solid acceleration from the 0.3% q/q in Q4 last year, but it seems stronger than expected German growth failed to compensate for the modest acceleration in Italy, the weaker than expected number in Portugal and the ongoing contraction in Greece. In any case, while the earlier timing of Easter may have helped Q1 growth along, indicators already point to a slowdown ahead and the balance of risks going ahead remains firmly tilted to the downside. For now the ECB is on hold and focused on implementing the measures already announced, but at the same time officials are keeping the door to further easing wide open.

Although a revision downwards it was a relatively good figure, with only Greece and Latvia not growing, EURUSD ticked up to the 1.1350 area, but down from yesterdays 1.1400 this morning.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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.

GBPCAD – Looking Bearish as Oil grinds higher

Forex Analysis
2016-05-13_11-15-49

GBPCAD, Daily      

The BoE left inflation forecasts near unchanged and maintained that the next policy move would likely be a tightening. It also emphasized that economic and financial indicators are likely to be less informative than usual due to Brexit uncertainties. It seems that both sterling markets and the BoE are in a wait-and-see mode. Much will depend on the evoluation of polling outcomes as the Jun-23 referendum draws nearer. The FT Brexit poll tracker currently has 46% for “Remain” and 43% for “Leave,” while Ladbroke betting odds show 71% for the UK to remain in the EU.

The press conference was even more interesting than usual with the normally unflappable Mr Carney seemingly somewhat stressed by the constant referrals to Brexit. He was pushed by the BBC correspondent and he finally (some in the leave camp say it was planned) uttered the “R” word. Recession. In his defence the BoE have two mandates that of fiscal prudence and secondly of transparency. If the UK did tip in to negative growth (and even recession)  in the second half of 2016 and he had not expressed the BOE’s view prior to the Referendum, then he (they) would have been accused of poor judgement.

This glut of data surrounding sterling yesterday and the inevitable noise that comes with it lead me to take a closer look at the GBP pairs on yesterdays close.  GBPCAD was the pair on the daily chart that looked most interesting:

The Canadian oil sands fires have not damaged production as much as initially thought and  the facilities will be back sooner than anticipated, the rally in the oil price keeps grinding higher, for now.

  • Break of the upper Bollinger band not sustained,
  • Long tail on Tuesdays candle and break of the 50 DMA at close on Wednesday from overbought levels
  • Thursday close below the 50 DMA and no direction from associated with volatile Oil price, triggered an entry 1.8562
  • Daily Oil chart remains bullish positive for CAD
  • Higher time frame Monthly chart remains bearish
  • Target 1 – (Daily ATR) – 1.8420 also coincides with 20 DMA.
  • Target 2 – (Recent low and close to lower Bollinger band) – 1.81300

 The recent down trend appears to be weakening so probability of Target 2 lower than normal.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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.

USD slips on more mixed US data

Forex Analysis
2016-05-12_16-07-02

USDIndex, H1     

US initial jobless claims rose 20k to 294k in the week ended May 7, much larger than forecast, from the prior week’s unrevised 274k. That brought the 4-week moving average to 268.25k from an unrevised 258k. Continuing claims increased 37k to 2,161k for the April 30 week, versus 2,124k previously (revised from 2,121k). The BLS said there were no special factors in the data, but eyebrows will be raised, especially after the weaker than expected headline April jobs number. Yet, claims remain below 300k for a 62nd straight week.

US import prices rose 0.3% in April with export prices up 0.5%. The former disappointed expectations, while the latter beat. The 0.2% increase in March import prices was revised to 0.3%, with February’s -0.4% now -0.5%. Export prices in March were not revised from unchanged, but February was bumped up slightly to 0.4% from -0.5%. For import prices, petroleum prices were up 4.1% versus the prior 9.6% surge (revised from 6.5%). Excluding petroleum, prices edged up 0.1% from -0.1% (revised from -0.2%). Import prices with Canada were up 1.4% and were down 0.1% with China. As for export prices, agriculture increased 0.5% from -2.3% (revised from -2.5%), and were up 0.5% excluding agriculture.

The dollar slipped slightly following the mix of data, EURUSD edged up to toward 1.1400, as USD-JPY dipped to 109.22 lows from just over 109.35 and USDIndex lost the 94.00 handle.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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 – Choppy after data and press conference

Forex Analysis
2016-05-12_15-30-35

GBPUSD, 1 hr     

Sterling saw choppy price action following the BoE’s triple serving of Announcement, Minutes and Inflation Report, partly reflecting difficulties markets have in digesting the sheer quantity of information (up until this year all three of these were released separately, spaced by one-week intervals). The pound initially dipped against both the dollar and euro as news of lowered growth projections (Q2 growth now seen at +0.3% q/q from +0.5% in February) and raised Brexit warnings hit the headlines. The currency subsequently more than recovered these losses, and both Cable and EUR-GBP are presently sitting at near unchanged levels relative to their respective bids seen just ahead of the announcement.

The BoE left inflation forecasts near unchanged and maintained that the next policy move would likely be a tightening. It also emphasized that economic and financial indicators are likely to be less informative than usual due to Brexit uncertainties. It seems that both sterling markets and the BoE are in a wait-and-see mode. Much will depend on the evoluation of polling outcomes as the Jun-23 referendum draws nearer. The FT Brexit poll tracker currently has 46% for “Remain” and 43% for “Leave,” while Ladbroke betting odds show 71% for the UK to remain in the EU.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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.

GBPNZD – rejects key level and rolls over

Forex Analysis
2016-05-12_11-10-55

GBPNZD, Daily    

As all the noise continues around sterling, possible Brexit and the BOE position (we await the UK Inflation Report and Governor Carney’s speech later). The GBPNZD pair has an interesting few days and weeks.

The strong downtrend channel that started in September last year was finally broken in early April and the pair have rallied all the way to the 61.8 Fib level on May 10th (2.1517). This level, once support and now resistance, triggered a move lower yesterday and a SHORT position from 2.1170. Conservative Target 1 – 2.0951  (Strong support 20 and 50 DMA) and Target 2 –  2.0300 at the low of the Daily and Weekly Bollinger bands and Weekly 200 DMA.

A clear break of 2.1517 would be required for a move higher, with upside Target 1 –  2.1915 and 2.2235 as Target 2.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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: A buy area touch and a move to T1

Forex Analysis
Chart_16-05-12_10-37-09

GBPAUD, 60 min

Yesterday while the pair was still trading at 1.9634 I wrote that there was support at 1.9520 – 1.9560 and that this area coincides with 4h Bollinger Bands and 30 period SMA. Therefore, I said, I was looking for long entry signals inside this buy area with Target 1 at 1.9694 – 1.9740 and Target 2 at 1.9795 – 1.9820.  Yesterday GBPAUD moved to my Buy Area during the US session, provided us with buy signals just like the ones I’ve been talking about in the Live Analysis Webinars.

When combined with professional risk management procedures this provided another low risk trading setup that HotForex traders are now quite accustomed to. Market then moved to my Target 1 one at 1.9694 – 1.9740 and those that decided to take profits at the lower end of this range made over 100 pips. Target 2 is at 1.9795 – 1.9820.

People ask me if I’m able to help them to make money in FX markets. The above analysis is an example of how we at HotForex Research can help our clients. However, this is not an isolated case. Recent EURJPY, Crude Oil and EURUSD analyses by me and the AUDUSD & GBPJPY analyses by my colleague Stuart analyses were all very successful.

Sometimes we of course get it wrong as well but that is why we teach clients to follow strict risk management rules. All in all our analyses provide HotForex clients with logical entry levels and reasonable targets. To fully understand how to use the analysis, you need to join our free educational and interactive webinars.  To become a good trader requires learning, patience and work mixed with a lot of discipline. If you are ready for that, open an account with HotForex and attend our webinars to start learning how to become an independent and successful trader! We 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.

US Crude Inventories – Big Miss

Forex Analysis
2016-05-11_17-55-21

USOil, H1   

Front month US Oil crude spiked up more than $1/bbl to $45.23 from $44.20 following the EIA inventory data which showed a 3.4 mln bbl fall in crude stocks. The street had been expecting a 0.5 mln bbl increase. Meanwhile, gasoline supplies, seen down 0.5 mln bbls actually fell 1.2 mln bbls, while distillate stocks were down 1.6 mln bbls, versus expectations for a 1.0 mln bbl fall. Refinery usage fell to 89.1% from 89.7%.

Overall, a very bullish report. USDCAD also fell as expected, having been north of 129.00 today and as high as 1.2935 it is currently trading down at 1.2850.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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.