German ZEW – Better than expectations

2016-04-19_12-22-37

German ZEW investor confidence better than expected, with the headline reading rising to 11.2 from 4.3 in the previous month and versus our median of 8.0. The current conditions indicator meanwhile came in weaker than expected at just 47.7, down from 50.7 in March. This confirms that the overall improvement mainly reflects a stabilisation in market confidence and receding risk aversion, while actual conditions in the German economy are pointing to a loss of momentum in the second quarter and going ahead, as the Bundesbank also highlighted yesterday.

The centre also said that growth prospects in China and worries over Brexit were both a “drag” on the German economy. The EURUSD maintained its momentum from Thursdays lows and is currently trading at 1.1338, finding resistance at the  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:

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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.

AUDUSD – Target 2 Achieved – Interesting

2016-04-19_10-27-35

USDAUD, Daily

I first posted March 23rd on the strengthening Australian dollar as commodity prices recovered from their early year nadir and the negative sentiment (for now) over China began to wane. The news flow from Australia continues to be received in a positive light and the good jobs data last week helped the pair get very close to Target 2, before finally closing above it yesterday.

This trade is a good example of the cycles within cycles that occur on the currency markets and that patience is one of the key assets of a successful trader. The trade reversed for 2 days before recovering and hitting Target 1 (0.7690 +110 pips) within the following 4 days.

The extended target at Target 2 (0.7730 +150 pips) was more interesting.  The pair did not have the energy on this initial attempt at the psychological 0.7700 to hold above this level. It then reversed for another 5 days, but again finding support at another round number, this time 0.7500.  The rally in the pair from April 8th posting higher highs and lower lows allowed it to finally close over 0.7700 on Friday, yesterday’s large volatility allowed Target 2 to be achieved.

Although the rally in this pair may have further to run Target 1 and Target 2 have been accomplished and this trade is now closed.

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.

Doha oil meeting failure and USDCAD update

Chart_16-04-18_09-28-05

USDCAD, Daily

AUD and CAD got hammered as the Doha meeting on oil restrictions failed and caused substantial concerns over the oil cartel OPEC’s ability to restrict and control the oil production. This caused the oil futures to open significantly (3.86%) lower today while it also caused the commodity currencies to gap overnight. According to Reuters tensions between Saudi Arabia and Iran were blamed for the failure, which revived industry fears that major government-controlled producers will increase their battle for market share by offering ever-steeper discounts.

Among others the USDCAD pair jumped above my sell area. I wrote two last week that USDCAD is oversold and therefore vulnerable to contra trend moves. I mentioned that Crude oil was also looking weak and I thought it might incite a rally in the inversely correlated USDCAD. This is indeed what indeed happened: market rallied higher and provided us a great sell signal that led to a nice move lower and a profitable trade. My T1 was hit on Thursday providing our traders with up to 100 pips depending on the strategy applied. Those that closed the whole position at T1 or followed the risk management rules laid out in my Position Management webinar weren’t hurt by the weekend gap. This gap is yet another reminder that it’s the risk management that is the single most important feature in our business plan.

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.

Looking to sell USDJPY if it rallies further

USDJPY

USDJPY, 240 min

Earlier today the yen eked out fresh lows against the dollar and euro, among other currencies, in what has been generally lacklustre trade in Asia. A solid set of Chinese data failed to lift spirits in most Asian stock markets, with investors in need of a breather after a week of strong rallies. A major earthquake was reported to have hit Japan’s Kyushu island. It caused damage and very unfortunately deaths but hasn’t caused a tsunami. This morning’s Japanese industrial production numbers for February came in at -5.2% while the previous number was -6.2%. There was no immediate reaction to the number even though the JPY strengthened a little bit later on.

USDJPY has rallied from Monday’s low of 107.63 until the pair corrected lower today. It is now trading relatively near the 109.10 support which coincides with 23.6% Fibonacci level. I’m interested in the levels near the 50% Fibonacci retracement (at 110.72) for short entries as it coincides with 110.65 level that used to be an important support for the pair. The 50% level adds to this levels significance.

Should the pair rally to my sell area between 110.25 and 111.00 I will be looking for sell signals inside the sell area. The target 1 (T1) area is between 109.08 and 109.75 while those looking for a longer term target might choose to exit at target 2 between 104.75 and 105.50. I recommend using strict risk management as per usual. If you don’t know how to manage your trading risks professionally you are welcome join to my free webinars to learn more about it.

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.

Coffee makes a successful retest of support

Chart_16-04-14_17-04-48
Coffee, Weekly

It’s been a year since my last analysis Coffee futures market. At the time Coffee was trading at $142.10 and I gave three targets of which lowest was at $115. Coffee hit all those targets and turned higher at $111.05, in the scheme of things very close to my $115 target level. The theme in my 2015 coffee analyses was shorting the market but now a year later it’s time to start looking at the long side as both technical and fundamental reasons suggest this market is tightening over the coming months.

In March coffee futures rallied over 16% on the dry weather forecasts that prompted Brazil the second biggest producer to cut its forecast for the next harvest to levels well below consensus estimates. There’s actually been a drought in the top Brazilian coffee production region, Espirito Santo. This has led to banks raising their target prices for the coffee futures, adding to the bullish sentiment in coffee but at the same time the fact remains that the coffee rallies are vulnerable to any news on new large crops.

Technically the rally in prices seen in March was significant. It was the first time since October 2014 that the price of coffee was able to rally above the upper weekly Bollinger Bands. This was a clear breakout from the trading range and triangle formation that have kept the prices from advancing since November 2015 and suggests that the bottoming process is now nearing the end. Price declined back to the 30 period moving average and $121 support level created by weekly candle highs in February. This week’s price action has stayed above the support.

 KC daily

Coffee, Daily

In the daily chart we can see how the price of coffee dropped down to $121.13 support that coincided with the 61.8% Fibonacci retracement level. From this level price has bounced again today which means that we have a successful retest in place. The 38.2% Fibonacci level at $126.62 is a minor resistance while the sideways move above $131.64 could prove to be a tougher level to penetrate. If today’s close is above $122.50 we have a bullish pin bar in the daily chart, which could be seen as a confirmation of the bullish view on the price of coffee.

Conclusion

As we have the dry weather causing draught in the important coffee producing regions in Brazil the prices are likely to be supported on the fundamental basis over the coming months. At the same time the technical picture supports long trade ideas on coffee. If market manages to create a bullish pin bar today, we have a potential lift-off that could take the prices to at least $126.60 resistance but possibly further to $131.60 resistance near the recent high. These are short term targets while in the longer term picture (over several weeks) price could move to August 2015 highs and a likely significant resistance at $140 dollars.

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 Continues Lower

2016-04-14_1548

GBPAUD, Weekly

This pair are looking to continue their downward movement as the AUD recovers (following good jobs data today) and the pressure continues on the GBP due to persistent Brexit fears and dovish tones from the BOE. As the AUD strengthens and the GBP weakens in the short term we are looking for SHORT trades on any retracement from current levels.

The “real possibility” of Brexit, as the IMF termed it in this week’s release of its semi-annual world outlook, adds to the pressure on sterling. This is also why it failed to sustain gains in the wake of Tuesday’s UK inflation data, which showed March headline CPI rising more than expected to a cycle high of 0.5% y/y. The IMF also revised UK growth down to 1.9% for this year, down from 2.2%, and this assumes the UK remaining in the EU. As for Brexit risk, the latest FT poll tracker shows a narrow 1 percentage point lead for the Remain camp, with 43% compared to the 42% support for the Leave camp, narrowing over the last couple of weeks from respective levels of 45% and 40%.

I’m therefore looking for sell signals inside my 1.8526 – 1.8610 sell area (50% and 38.2% Fibonacci retracement levels) with Target 1 (T1) at 1.8010- 1.8000 (Weekly low, 200 DMA and round psychological number) and Target 2 (T2) at 1.7845 (Next support level).

Only trade based on my analysis and trade ideas if you agree with the analysis and if you are (after substantial testing) confident that you can assume the risk. Should you need further training on trading and risk management please attend any of our free webinars.

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 & PPI figures weaker than expected

US Retail & PPI figures weaker than expected

USDJPY, 60min   

US retail sales fell 0.3% in March with the ex-auto component up 0.2%. But the 0.1% dip in the February headline and ex-auto sales were each revised up to unchanged, which offsets some of the headline disappointment. Sales excluding autos, gas, and building materials was unchanged from a 0.4% gain previously (revised from 0.1%). Pacing the headline weakness was a 2.1% drop in car sales, with clothing off 0.9%, while eating and drinking establishments fell 0.8%. Building materials climbed 1.4%, with healthcare up 1.0%, along with a 0.9% rebound in gas station sales.

US March PPI dipped 0.1% with the core rate off 0.1% too, both underperforming expectations. There were no revisions to February with a 0.2% headline decline, and a flat core reading. On an annual basis, final demand PPI slowed to a -0.1% y/y clip versus unchanged previously, with the core rate dipping to 1.0% y/y from 1.2% y/y.

The USD fell broadly after the weaker than expected retail sales, and the cooler PPI outcomes. EURUSD rallied to 1.1325 from just above 1.1300 as USDJPY fell under 109.10 from near 109.35.  Next upward resistance on the 60 min chart is the 200 MA at 109.56, with support around 109.00 – 108.90.

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.

Is USDCAD a sell after a rally?

Is USDCAD a sell after a rally?

USDCAD, 240 min

USDCAD has been moving lower in recent days while the WTI crude has rallied. Now the pair is oversold and therefore vulnerable to contra trend moves. Stochastics is well below the oversold threshold in the daily chart and USDCAD has moved below the lower Bollinger bands. Crude oil is looking a bit weak today and could incite a rally in the inversely correlated USDCAD. The intraday price action indicates that the markets are indeed trying to move USDCAD higher from the current levels. How far the market then should move before we could consider shorting it? I’m eying an area between the 50% and 61.8% Fibonacci levels that coincides with a line-on-close low (at 1.2896) from 31st of March. There is another potential low at 1.2853 but due to a support being fairly near to this level I prefer to take action near the 1.2896 low.

I’m therefore looking for sell signals inside my 1.2880 – 1.2910 sell area with Target 1 (T1) at 1.2780 -1.2809 and Target 2 (T2) at 1.2728-1.2750. Only trade based on my analysis and trade ideas if you agree with the analysis and if are (after substantial testing) confident that you can assume the risk. Should you need further training on trading and risk management please attend my free webinars. I’d love to help you become more confident in your analysis and trading.

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.

EURAUD reacting higher near the Bollinger bands

EURAUD reacting higher near the Bollinger bands

EURAUD, Daily

EURAUD dropped 1.32% yesterday and produced a nice trade (> 100 pips) for those that attended yesterday’s Live Analysis Webinar. Today the pair is trading near the daily Bollinger bands and looks like it could move higher from the current levels. This buy area was discussed yesterday in the webinar and now’s the time to consider taking the advantage of it. EURAUD is reacting higher at the time of writing and could retrace yesterday’s move. Stochastics in the daily timeframe are near oversold levels while all my oscillators (Stochastics, RSI and MFI) are deeply oversold in the four hour chart.

This morning we had a signal to go long in the buy area between 1.4716 and 1.4794 so those that attended yesterday’s Live Analysis Webinar knew when and how to get long.  Should the market provide another buy signal, we could still consider going long on this market. My Target 1 for this trade is in 1.4907 – 1.4930 bracket and Target 2 in 1.4980 – 1.5040 range. Only trade these ideas if you agree with the analysis and are (after substantial testing) confident that you can assume the risk.

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 attractive near the regression channel low

Market Analysis — 12 April 2016
EURGBP attractive near the regression channel low

EURGBP, 240 min

EURGBP has been in an uptrend lately and is still breaking above recent pivotal highs. It has been attracting buyers after pull backs have taken the pair near S&R levels. Now that EURGBP has retraced from a new 22 month high it could be soon reviving buying interest from those that look to participate in this uptrend after a decent pullback. The pair is oversold in terms of Stochastics oscillator (7,3,3) while it tried to bounce from the 38.2% Fibonacci level. I expect the uptrend to continue but think that the current level is a bit too risky to trade long and expect the pair first to make another leg lower. This would bring it to my buy area. The regression channel low and the area between the 61.8% and 50% Fibonacci levels, together with the March high at 0.7946 should mean that quite a few market participants view this area as a potential area for long trades.

I am looking for long entry signals between 0.7938 and 0.7994 with Target 1 at 0.8080 – 0.8120 bracket and Target 2 at 0.8160 – 0.8180.

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.