Signals Articles

EURJPY Rolling over from daily Bollinger bands

Forex Analysis
EURJPY Rolling over from daily Bollinger bands

EURJPY, 240 min

Euro area January industrial production beat the estimates today with actual figure being 2.1% while the consensus expectation was 1.5% and December number negative at -1.0%. According to the Eurostat the increase is due to production of capital goods rising by 3.9%, energy and non-durable consumer goods both by 2.4%, durable consumer goods by 1.3% and intermediate goods by 0.9%.

Long trade idea: EURJPY has been trending lower since July last year and has now after overshooting the bearish daily channel shown signs of stabilization. After creating two weekly bullish pin bars the pair rallied higher towards 127.50 resistance where it hit both 30 and 50 day SMA and the upper Bollinger Bands (20). The pair has been overbought as per Stochastics (7, 3, 3) in 4h chart and is in the process of rolling over. I look for a move to my Buy Area at 124.60 – 125.00 which roughly coincides with the moving averages (30 and 50 periods) and the lower Bollinger Bands (1.5 sd, 20 periods). We look for buy signals at or inside the area with Target 1 is at 126.60 – 127.60 and Target 2 at 128.00 – 128.60.

Short trade idea: Those that have an interest to play the short side while waiting for the price to move to the Buy Area, might consider shorts with a target at 125.45 (dotted line). In this case we’d look for sell signals between 126.50 and 126.80.

Only trade these trade ideas if your own analysis agrees with them and you are confident that in your risk management.

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.

EURUSD Rolling Over

Forex Analysis
EURUSD Rolling Over

EURUSD, 240 min

German HICP was confirmed at -0.2% y/y in final February data, as expected and down from +0.4% y/y in January. The data hasn’t and won’t have market impact, although endorsing the ECB’s anti-deflationary bazooka of stimulus measures yesterday. Oil prices, which reached a 12-year low in January, have been driving inflation down.

EURUSD rallied too far too fast and became overbought. Now this extreme condition has been unwinding and the pair looks like a sell. In my view a more ideal level to short this market would be my Sell Area between 1.1148 and 1.1185 but the price action seems to indicate that the pair could turn lower from levels near 1.1040. This level is a more aggressive entry option while those preferring to wait for a more conservative entry might prefer to wait for a further move into the Sell Area. In either case we consider short trades only if price action confirms the trade idea. Target: at 1.1050-1.1075.

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.

Signs of weakness after a rally in copper

Forex Analysis
Signs of weakness after a rally in copper

Copper, 240 min

Price of copper surged last week alone by over 7% as shorts were squeezed after a sustained rally in oil supported the commodity complex. This drove the price copper into a weekly resistance area at 2.2246 – 2.2820, an area that coincides with the upper weekly Bollinger Bands. Since the March 4th peak the price of copper has shown signs of weakness and reacted lower from the highs. As the nearest important daily support level is at 2.1493 there is room for further correction.

We look for sell signals inside the 2.2538 – 2.3040 Sell Area with Target 1 at 2.1617 – 2.1891 and Target 2 at 2.0740 – 2.1013. Traders may consider setting stops and position sizes according to the risk management principles taught in my webinars. I advise to use my analysis if your own analysis agrees with it and you have attended my webinars to learn how to manage risks.

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.

Bearish US wholesale trade report

Forex Analysis
Bearish US wholesale trade report

S&P 500 e-mini future (ES), Daily

Sales dropped while inventories climbed according to the US wholesale trade report today. The wholesale trade report revealed an ugly January mix of a big 1.3% sales drop with a 0.3% inventory climb that left a dangerous spike in the inventory-to-sales (I/S) ratio to a lofty 1.35 new expansion-high, after divergent December revisions that aggravated the rise. The inventory climb did lift Q4 and Q1 GDP prospects, though at the expense of Q2-Q3, given a recession-sized I/S surge that likely reflects an unintended build as sales contract. We still think that the oil-hit to U.S. GDP growth is approaching its end, but plenty of inventory pain remains in the pipeline.

With the market at resistance and showing signs of upside momentum waning we are looking for short trades in the S&P 500 index futures (USA500 in MT4). Should the market first move decisively below 1976 we are then interested in selling rallies to or inside the Sell Area between 1976 and 2009. In such case we are looking for sell signals as per teachings in the webinars. Target 1 is at 1937-1951.50 while Target 2 is at the next support at 1900 – 1915.

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 at resistance and Bollinger Bands

Forex Analysis
EURAUD at resistance and Bollinger Bands

EURAUD, 240 min

The last time EURAUD was trading at current levels we looked for signs of reversal as the pair was trading at support. Now support level has been penetrated and its role has been reversed. The same level is now likely to act as a resistance. EURAUD is also trading near the upper 4h Bollinger Bands with Stochastics getting overbought and the down sloping 30 period moving average. The higher time frame momentum is to the downside and the pair has retraced back to a resistance.

We look for sell signals inside the 1.4865-1.4930 Sell Area with Target 1 at 1.4700-1.4753. Should this area get penetrated the Target 2 area is at 1.4614-1.4660.

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.

Increased number of The US jobs data but weakness in wages

Forex Analysis
Increased number of jobs but weakness in wages

EURUSD, Daily

The US jobs data revealed encouraging upside surprises for the payroll and household employment figures, but substantial weakness in the hours-worked, workweek, and wage figures that lowered our forecasts for the month. The mix reversed the January pattern of weakness in payrolls but strength everywhere else, leaving establishment data for Q1 overall that are still a positive signal for GDP growth on net, and with what is now a sharp five-month upturn in the household data that suggests an emerging return of workers to the labor force alongside a jobless rate that remained at the cycle-low 4.92% for a second consecutive month, and another climb in the participation rate to 62.9%.

EURUSD dipped on better than expected jobs numbers but then found support on a regression channel that it broke out of yesterday. Trading has been mixed after the report was published and without direction. Nearest daily support levels are: 1.0883 and 1.0818 while the nearest resistance levels are at 1.1035 (38.2% Fibonacci retracement) and 1.1070.

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 Analysis oversold and at support

Forex Analysis
EURAUD oversold and at support

EURAUD, Daily

After falling for three weeks in a row EURAUD is oversold and near lower weekly Bollinger Bands and an important daily support at 1.4830. This is a level that caused prices to rally in December and created an uptrend that lasted for several weeks. Even if we didn’t get a similar move from this support this time, the previous move indicates how important this level has been to the market participants.

Obviously I don’t know beforehand if the support will hold but it price consolidates above or near the 1.4830 support we should see buyers emerging and moving the pair higher again. The first intraday resistance level can be found at 1.4986-1.5025 while a more significant resistance will test the bulls’ commitment above the 23.6% Fibonacci level at 1.5172.

I look for buy opportunities above 1.4830 support with target 1 at 1.4986 and target 2 at 1.5075.

If you don’t know how to utilize the above analysis, please join my free webinars for further training. Below I have a EURAUD trade example from last Tuesday’s Live Analysis Webinar. This setup worked perfectly and those shorting EURAUD as per my analysis made a nice pile of pips. If you want to learn to find similar trades, you need to attend some webinar training. I look forward to seeing you there!

EURAUD_short_setup

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.

Gold Analysis for 03.02.2016

Forex Analysis
Gold Update

Gold, Weekly

Almost a month ago, while Gold was still rallying strongly I wrote an analysis on Gold saying that it might have more upside in the longer run judging from the increased risk aversion in different asset classes but in the short run the upside is likely to be limited due to the channel top and 50% Fibonacci retracement being near. I said at the time that this could mean that the line of least resistance is for a change on the downside and traders could benefit from short exposure while (potential) correction takes place. I also gave a resistance area for sell entries and two target levels. Gold overshot my resistance area first but then started to consolidate giving short sellers several opportunities to enter in trades. My target one was reached while target two was almost touched and now market has moved back into my original resistance area and has consolidated there.

Gold is still trading near the upper end of the bearish channel but shows some resilience. Since April 2013 when price of gold dropped below the topping formation lows at around 1550 all gold rallies have been sold aggressively. Peaks have been sharp, with the price of gold dropping quickly after it hit a resistance. Even though gold is yet again at a resistance and Stochastics is in the overbought zone it seems to me that this time is different. Price has managed to move sideways for almost three weeks and has created a flag formation. This was helped by the fact that gold found support at October 2015 high, right where my target 2 was.

2016-03-02_1420

Gold, 240 min

In the four hour picture we can clearly see how price fluctuation has created a series of higher lows and higher highs. This far all of these have stayed below the upper end of the resistance area (1255.60) I defined in my earlier analysis. However, the fact that this market is creating higher lows means that traders have been willing to bid gold at higher price levels than before. Also, the fact that price has created higher highs tells us that those shorting gold have been forced to do so at higher prices than during the previous swings. This suggests certain degree of bullishness in this market while it means that the worries market participants have had about so called risk assets have not yet disappeared.

 Conclusion

As the price of gold has been resilient in the face of risk on assets rising and has in the process created a flag formation that points to higher prices. The projection target based on the length of the flag pole is at 1434 and coincides with a high from August 2013. As I said earlier, since April 2013 all gold rallies have been sold aggressively. Peaks have been sharp, with the price of gold dropping quickly after it hit a resistance. Now things seem to be different as price has managed to move sideways for almost three weeks. This indicates that psychology has changed and gold should have more upside ahead.

This is in line with my views in February 11th report. Now, as long as it is evident in the four hour time frame that gold keeps on attracting bidders at higher levels after each correction I deem it more probable that gold will move higher and look for long opportunities when price is oversold according to Stochastics oscillator (7,3,3) in four hour time frame. If you decide to take these traders, it’s advisable keep the Target 1 conservative (as per my teaching in the live analysis webinars) while price stays inside the consolidation formation. After the potential breakout the 1434 high could be a reasonable medium term target. Trade safe, use protective stops and remember you are always very welcome to join my webinars to learn how to manage the risks and find buy and sell signals.

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.

Brexit fears cause volatility in GBP pairs

Forex Analysis
Brexit fears cause volatility in GBP pairs

GBPJPY, 240 min

Recently GBP has been under pressure due to fears that the country might leave the European Union. I view this as a very low probability event but that doesn’t stop markets from being volatile. While Sterling has been under pressure the Japanese Yen has been either rising or moving sideways. This has brought the GBPJPY significantly lower and I don’t see an immediate reason for this psychological setting to change. We therefore look for opportunities to sell the rallies to join the trend as long as the trend lasts.

The pair is trending lower in weekly, daily and 4h time frames and is currently oversold as per Stochastics in weekly timeframes while there’s some attempt to move Stochastics higher in the daily chart. On February 22nd GBPJPY moved below an important support at 159.79 and therefore turned it into a resistance.  This resistance also coincides with the 23.6% Fibonacci retracement level. We are interested in short trades GBPJPY between 159.50 and 160.54 if the price rallies there and give us a sell signal. Target 1 for this potential trade is at 154.70 – 155.65 while target 2 is at 148.55-149.30.

If you don’t know what to look for as a sell signal and how to set stops and plan your position sizes, you are welcome to join my Live Analysis Webinar on March 1st and 1pm GMT. Come along and bring your trading friends as well but please remember that seats are limited! This webinar is free, therefore it advisable to register asap.

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.

German state inflation drops sharply on oil

Forex Analysis
German state inflation drops sharply on oil

EURUSD, 60 min

German state inflation drops sharply on oil. Annual inflation in the six states that released February data this morning declined much more than expected, with headline rates in 5 of the states now in negative territory and NRW, the most populous state reporting an annual rate of 0.1% y/y, down from 0.6% y/y in the previous month. Base effects and lower oil prices are the main reason, with prices excluding household energy and petrol actually a full percentage point higher at 1.1%. Still, the data points to a weaker than expected German preliminary HICP reading, which like the French and Spanish numbers could well dip into negative territory. Again, officials already warned that this could happen, but nevertheless, the data will add to the arguments of the doves at the ECB and underpin speculation of far reaching action from Draghi in March.

Yesterday I wrote that we could see intraday weakness and then a rally with weakness at and above 1.1070. EURUSD declined first to 1.0985 and then rallied almost to 1.1070 before turning lower again. It pretty much moved according to the plan. The pair is now trading near the lower 60 min Bollinger Bands after moving lower rather fast from 1.1047 level. This suggests that we might see a rally higher from the levels near 23.6% Fibonacci level at 1.0998. However, I am expecting signs of weakness again around 1.1047 but caution the traders that these levels should be only traded if price action and you own analysis confirms the view.

 

Janne Muta

Chief Market Analyst

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

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

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

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


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

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