Signals Articles

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.

USDCAD oversold with a sell area above

Forex Analysis
USDCAD oversold with a sell area above

USDCAD, 240 min

USDCAD broke below an important support in yesterday’s trading. The 1.3640 to 1.3660 area had supported price in January and then twice February. This has caused the pair to be oversold in both daily and 4h timeframes. The intraday sideways price action suggests that the pair could rally from the current levels towards the aforementioned resistance area which also coincides with 38.2% Fibonacci retracement level (levels left out of the chart to improve readability).

As the daily trend is still lower we are looking for short entry signals inside the Sell Area (1.3625-1.3730) with the target areas at 1.3540 – 1.3580 (T1) and 1.3436 – 1.3475 (T2).

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 consumer confidence surprised

Forex Analysis
German consumer confidence surprised

EURUSD, 60 min

German March GfK consumer confidence unexpectedly rose to 9.5 from 9.4 in the previous month. Expectations had been for a dip amid market turmoil and growing uncertainty about the economy outlook, but at least German consumers are more upbeat. This seems to be largely due to a sharp rise in personal income expectations in February, which offset slightly less optimistic business cycle expectations. The willingness to buy remained steady at very high levels and the willingness to save turned slightly less negative. A surprisingly good result, which is a reflection of a robust labour market and rising wages, although if overall business confidence declines further and orders and production don’t improve, this will also feed through the labour market and consumer confidence. Consumption alone can’t drive the recovery forever.

There was no notable impact on the EURUSD from the news. After finding support near my target 2 area (blue boxes refer to old targets that were reached) the pair is now trading near 50% Fibonacci level that coincides with a resistance at 1.1047 and the upper end of the price channel. In 60 min timeframe the pair is also overbought as per stochastic oscillator. This suggests the line of least resistance is down intraday today. The pair has also formed a daily pin bar which tells about daily downside momentum slowing down. However, the nearest resistance levels at 1.10700 aren’t far away. We might therefore see a rally attempt from levels near 1.0956 support and then weakness again between 1.1070 and 1.1136.

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 Analysis for 02.23.2016, U.K. Uncertainty Could Push the Pair Higher

Forex Analysis
EURGBP update, U.K. Uncertainty Could Push the Pair Higher

EURGBP, Daily

Eurozone Q4 GDP showed mild growth of around 0.3% Q/Q. Weak EU PMIs are putting some pressure on the EUR, while discouraging data is expected to continue from the Eurozone, which will keep ECB dovishness intact. The fact that the ECB is ready “to do more” to bring inflation back to target, means that traders will be seeking clues during the next monetary policy meeting in March. The question remains what exactly Draghi still has up his sleeve.

Yesterday, the GBP saw the biggest one day loss in 6 years on fears that the U.K. will leave the E.U. With uncertainty in the backdrop, we expect that further pressure on the GBP will prevail in the coming months before the June 23 referendum.

Technically, the short term EURGBP price trades above the tentative downward sloping trend-line and above its short term moving average (10 period). My conclusion is that the underlying trend is up, and I remain with long positions as long as price can hold above the 0.7700 area, for initial targets within the 0.7900 – 0.8000 zones.

Feb 22 EURGBP SRL

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.

GBPUSD Analysis for 02.22.2016, Trading Lower on Brexit Fears

Forex Analysis
GBPUSD Update, Trading Lower on Brexit Fears

GBPUSD, Daily

A referendum has been announced for Jun-23, London mayor Boris Johnson yesterday said that he will be backing the ‘out’ campaign. The uncertainty ahead will be bad for business, with large companies now seen as supporting the “in” campaign, we expect GBP to underperform heading into the referendum.

Technically, the 1.4235 area looks to be an important price point to watch out for, a clean break below could open up the way for further downside pressure towards the 1.4080’s (January Lows). Current price is below the valid downward sloping trend line, as well as , its short (10) and medium term (50) moving averages. 1.4235 looks now to be a valid resistance level, my conclusion is to remain short as long as price can hold below 1.4235 for a 1.4080 target. However, traders should remain on alert to reverse short sales upon any potential price break back above 1.4235 for a potential bounce towards the 1.4530’s.

Feb 22 GBPUSD SRL

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 Analysis for 02.18.2016: Target 1 reached!

Forex Analysis
EURUSD update: Target 1 reached!

EURUSD, 60 min

EURUSD short trade T1 was hit in today’s trading. I pointed out yesterday that as EURUSD is correcting lower after hitting resistance at 1.1300 plus levels and the price is making lower highs and lower lows the indications are bearish. The plan was to sell if my conditions for a short entry are met. This meant that we look for a rally inside my sell area between 1.1150 and 1.1180 and provide us with sell signals there we are looking to engage the short side with a view of covering the shorts at target areas.  Target 1: 1.1040-1.1085 and Target 2: 1.0965-1.1010.

Price indeed rallied to my Sell Area and after a brief attempt to rally higher EURUSD was in two occasions met with heavy selling and dropped lower. The pair didn’t go into the sell area but those ready as per my teachings in webinars were ready and made some pips. Price has now reached my first target area. Technical picture looks still bearish and favours short trades rather than longs. Therefore, I expect that after a pause, market will eventually penetrate my T1 area and continue towards my target two.

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.