Signals Articles

Hedge funds double their short crude oil bets

Forex Analysis
Hedge funds double their short crude oil bets

Crude Oil, Monthly

Brent crude fell over 4% in logging a new 12-year low at $27.70 (WTI low was $28.36) in the March futures contract during the Asian session today, and is presently sitting in the low $28s. The lifting of sanctions against Iran has been the latest selling prompt amid forecasts that this will lead to an increase of 500 kb per day of crude entering the market this year (according to Barclays, cited by the FT). This will add to an already pronounced supply overhang. The recent Morgan Stanley forecast for $20 oil is starting to look reachable.

The price of crude oil has been moving lower with selling pressure related to several fundamental factors. Markets have been worried about slowing growth in China and diminishing demand of oil as the global economic growth is slowing down as well. However, the slide has had more to do with supply than demand. The inventories have been high with production staying at elevated levels even though the rig count has come down significantly. Now the news of Iran embargo and sanctions being lifted has intensified the bearish bets in the oil markets. According to Bloomberg, hedge funds have doubled their bearish bets in the oil markets over the last two weeks. Also, OPEC supply has been on the increase as it has defended the market share and tried to drive US producers out of business.

In the long term picture WTI Crude is near 2003 lows with the next monthly support level at 24 dollars while there are significant resistance levels relatively close at 33.20 (year 01/2009 low) and 37.75 (08/2015).

Crude 4h

Crude Oil, 240 min

Since January 8th the WTI crude oil futures market has been tied into a bearish channel. After making a new low during the Asian session today crude has rallied a bit and is not far from a resistance at 29.93. Another potential resistance area is near 30.72 level where the bear channel top, 30 period SMA and 23.6 Fibonacci level coincide. Should the market manage to rally even higher and beyond the channel, the 31.42-32.10 area where the upper Bollinger Bands, the 50 period SMA and 38.2% Fibonacci retracement coincide could be a level where the market turns lower again.

Conclusion,

Market is trending lower which is a reason to look for low risk selling opportunities. Potential short entry levels are: 29.94, 30.72 and an area at 31.42-32.10. We are interested in shorts if market hits these levels and provides us with sell signals.  The market being in the downtrend it makes sense to have both a short term target (Target 1) and a target that is a bit further away. My targets for WTI crude are: Target 1: 28.88 and Target 2: 25.20

 

Janne Muta

Chief Market Analyst

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

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

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

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


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

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

USDJPY Analysis for 01.15.2016

Forex Analysis
USDJPY, update

USDJPY, Daily

The JPY continues to strengthen on the back of lower commodities and outflows for China as the flight to safety trades remains open for the time being.

Since current USDJPY market price remains below the longer term (Monthly) chart trend-line, as well as negative MA analysis, along with the big picture macros, my conclusion is for further JPY strength.

This strength will lead the USDJPY pair lower over the medium term towards price targets 116.70 (Target 1), and 115.90 (Target 2).

Jan 15 USDJPY 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.

EURGBP Analysis for 01.14.2016, bullish momentum dominates

Forex Analysis
EURGBP update, bullish momentum dominates

EURGBP, Monthly

EURGBP Monthly chart bullish momentum continues to dominate. Current price is higher by around +110 pips since my Jan 11 2016 EURGBP, update.

My monthly chart targets remain for a test of the October 2008 lows (0.7700), currently around 128 pips from current market price (at the time of writing), while the extended price target remains at the measured move near the July 15 (Low) – Oct 15 (High) Fibo 161.8 expansion 0.7860. This is currently around 228 pips away from current market price.

Jan 14 EURGBP SRL V2

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 LIVE ANALYSIS for 01.14.2016

Forex Analysis
Gold Live Analysis Update

Gold, 240 min

In the latest Live Analysis Webinar we studied gold when it was still trading at 1087.60 and heading lower. Price had broken out of a sideways move and we needed to identify a level to go long at. I pointed out to 1080 as the level to look for long entry signals. Yesterday, gold hit 1080 and gave our traders the buy signals I told to look for. I also gave our traders two targets: T1 at 1093 and T2 at 1110. T1 was hit yesterday. The Momentum Reversal Strategy I teach in the Live Analysis Webinars is a powerful trading method that you also can learn. Now is the time for you to register for the next Live Analysis Webinar and join me Tuesday 26th. The registration link is below.

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.

S&P 500 formed a Doji at support

Forex Analysis
S&P 500 formed a Doji at support

S&P 500, Daily

Over the past few years US stock market has been rising at the back of the FED quantitative easing programs and low interest rates. Cheap money made it possible for the US companies to buy back their shares and therefore drive up the EPS (Earnings Per Share) metric, which again encouraged new money flows into the stock market. Now that that both the QE and cheap money are history the stock market has been losing its bullishness. The latest sign of this was a lower high that was put in place in November last year. This happened roughly 12 months after I forecasted that the S&P 500 index will start moving sideways.

S&P 500 index e-mini futures (ES) have over the past few days moved down and near a support area of 1861-1890. Yesterday prices stabilized and created a Doji candle after which there has been a reaction higher today. Stochastics (7,3,3), RSI (7) and MFI (7) are all oversold in the daily timeframe and the Stochastic oscillator is about to give a buy signal. This obviously depends on the price closing at the current levels or above. The nearest significant resistance level is at 1982 level that supported price action in December.

ES_240

S&P 500, 240 min

Today ES has tried to challenge the upper and of the downward sloping price channel that has held price action for the last four days. The current level happens to also be a daily low from three days ago and has resisted price moves higher yesterday. The level is also a 23.6% Fibonacci level. Today price has been able to create a higher low which suggests that there is some optimism among the bulls about breaking higher. A projection made based on the width of the bearish price channel suggests that in the case of a breakout market could move to the 1982 resistance which coincides with 50% Fibonacci retracement level.

ES_60

S&P 500, 60 min

A well placed hammer candle right at the lower Bollinger Bands encouraged traders to push ES outside the descending triangle. This breakout led the index future up to the resistance at 1928, but at the time of writing market is showing signs of weakness at the resistance. Oscillators are suggesting that the price is overbought and it is indeed trading above the upper Bollinger Bands and at resistance. Also a trendline drawn from the reaction highs on 7th and 8th January is at the same general area.

Conclusion

Market is trading at support and has shown signs of turning higher. If it can clear the 1928 resistance, the first signs of psychology chang (form bearish to bullish) we’ve seen since yesterday should turn into a more decisive move higher towards the next Fibonacci retracement level (38.2%) at 1959. Based on the chart analysis this market has the line of least resistance on the upside (at least for the short term) and should break above the current resistance at 1928 rather than make new lows. In the longer term however, the lower high that was put in place in November suggests that investors aren’t interested in taking the stock market above the last year’s high.  This view is supported by the Russell 2000 index being considerably weaker than the S&P 500. Russell is an index that consists of less liquid and therefore more risky stocks. If investors don’t see it appropriate to buy more risky but higher rewarding stocks then it signals that markets are risk averse and not likely move the markets significantly higher.

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 01.12.2016

Forex Analysis
EURGBP, Update

EURGBP, Monthly

The combination of positive Euro unemployment data and a downward revision in UK Q3 GDP growth has been supporting the EURGBP price in recent days.

Looking for medium term direction, the monthly chart indicates that the EURGBP may be set to advance further since it now trades above the multi-year downward trend line.

My medium term conclusion is for price targets at 0.7700 (October 2008 lows), and 0.7860 as an extended price target.

Jan 11 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.

NZDUSD TRENDING LOWER BUT NEAR A SUPPORT

Forex Analysis
NZDUSD trending lower but near a support

NSDUSD, 240 min

At the time of writing NZDUSD is in a downtrend as per 4h chart. The nearest important resistance level is at 0.6587 and coincides roughly with 23.6% Fibonacci level at 0.6595. In addition, the upper end of a bearish trend channel is currently at the same price levels. This could provide us with a quick short trading opportunity and as per usual we look for price action confirmation before entering the trades. Should the pair move beyond this resistance, the next potential reversal level is at 0.6637 which coincides with the 30 period SMA and is not far away from 38.2% Fibonacci level at 0.6650.

We should take into account the fact that market has been moving lower for quite some time and is trading fairly close to a pivotal support area at 0.6433-0.6490. Also, price is trading inside a daily bottoming formation from November last year. Therefore we are near a potential turn around area and we should take this into account in setting the targets. Price could enter into another sideways phase where we should look to trade accordingly and not expect the trend to continue for ever. My targets for a potential short trade are: 0.6550 (Target 1) and 0.6505 (Target 2).

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.

CADJPY Analysis for 01.11.2016

Forex Analysis
CADJPY Update

CADJPY, Daily

Last week I wrote how CADJPY had been falling as there weren’t bidders for the crude oil as problems with the Chinese stock market caused the traditional safe havens, such as Japanese Yen and Gold market to rally.  I said that the move is overdone on the downside was probably overdone and we should prepare to short at higher levels. The pair rallied to my 83.93 resistance and provided short trading opportunities for those who had been to my webinars and knew what to look for. My Target 1 at 82.46 was hit earlier today after which market created a bullish pin bar at the level. This suggests that the same target level was chosen by the institutional players as well.

CADJPY has now been falling for five consecutive days. With the market trading at support after such a continuous fall it wouldn’t be a surprise if it took a breather and moved sideways before extending its move to the downside towards my Target 2 at 81.38. This is supported by the 60 min chart in which price has reached a breakout target that was based on a triangle formation. Price should be moving sideways between the 82.46 support and the above triangle formation today.

Janne Muta

Chief Market Analyst

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

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

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

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


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

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

Strong Dec Non-Farm Payrolls: 292K jobs

Forex Analysis
Strong Dec Non-Farm Payrolls: 292K jobs

EURUSD, Daily

US nonfarm payrolls surged 292k in December following the 252k November gain (revised up from 211k) and October’s 307k (revised from 298k). The net revision was 50k. The unemployment rate was steady at 5.0% for a 3rd straight month, versus the 5.1% in September. The labor force climbed 466k, while household employment jumped 485k. Private payrolls increased 275k with a 45k gain in the goods producing sector, a 45k gain in construction, and an 8k rise in manufacturing. The service sector added 230k, with business services leading the strength, rising 73k. The Government added 17k. Average hourly earnings were unchanged following November’s 0.2% gain. The workweek was flat at 34.5. This is a solid report that underscores the strength in the labor market.

EURUSD reacted lower as the better than expected labour numbers were released. The pair found support from Wednesday’s high and is at the time of writing trading above the 1.0860 level that supported price during the hours before the NFP publication. Market is trending lower in the daily picture which suggests that rallies such as this should be shorted at resistance levels, providing price action at resistance supports such intentions. The 4h timeframe suggests that should the price rally much higher from current levels market gets close to upper end of the down sloping channel and the upper Bollinger Bands. Important support and resistance levels are at 1.0758 and 1.0880. I expect the market to reverse near 1.0880 resistance and head towards 1.0758 support.

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 trading at major support

Forex Analysis
GBPUSD trading at major support

GBPUSD, Monthly

GBPUSD has been falling for several months as markets have been adjusting to changing interest rates landscape that has lately been favouring the USD over the pound. Markets have also been worried about the approaching referendum that could lead to Britain exiting the Eurozone. Polls have been suggesting that opinion is more evenly divided than previously thought, though the UK government is still negotiating with EU partners for better terms.

After hitting a 50 month SMA in June 2015 the pair has now fallen to levels that attracted buyers in April 2015. These levels have been turn around areas also in 2010 and indeed in 2009 when market created an important bottom over a three to four month period. In monthly timeframe Stochastics (7) is oversold while RSI (7) indicates is right at the threshold of the oversold level. The nearest resistance level at 1.511 almost coincides with the 23.6% Fibonacci retracement level at 1.5188. The next monthly support is at 1.4230.

Chart_16-01-08_12-24-29

GBPUSD, 240

The pair rallied some 200 pips yesterday and created a daily bullish pin bar candle in the process. This supports the view that GBPUSD is trading near a major support level. The rally was stopped at an intraday resistance area between 1.4636 and 1.4661. These levels coincided with the down sloping regression line. Stochastics (7) is getting overbought and market has reacted lower forming a bearish pin bar in the four hour chart. The 30 period simple moving average is not far from the 1.4661 resistance while the upper Bollinger Bands are currently near 1.47 together with the 50 period moving average.

Chart_16-01-08_12-24-21

GBPUSD, 60

The hourly chart reveals how GBPUSD has rallied above the bearish trendline that this week limited its rallies until yesterday’s rally penetrated it. Price is now trading above the 30 period SMA but is still below the resistance area at 1.4636-1.4661. The nearest important short term support area is at 1.4532-1.4574 which coincides with the down sloping trendline in the 60 min chart and the lower Bollinger Bands in the 4h chart. The next significant resistance is at 1.4807.

Conclusion

Market is trading at major support area and is therefore likely to be near to a stage when it starts consolidating before turning higher again. From a short term trader’s point of view such price action can provide opportunities in both directions. Critical levels in short term are 1.4530-1.4566 support and 1.4636-1.4661 resistance. If the pair can create a higher low at support and then push through the resistance there is room to move to 1.4807 while the next support below 1.4530 is at 1.44. Support area visible in 60 min chart (1.4532-1.4574) is now interesting after yesterday’s rally from the monthly support.  Short trades make sense (if sell signals appear) at above mentioned resistance area with the Target 1 at the supporting price bracket and Target 2 at 1.4467 while risk on the long side can be justified should price action provide us with relevant signals inside the same support area.  This would negate the need for Target 2 in the short side. In case a long trade gets triggered Target 1 is at 1.4636 and Target 2 at 1.4695. US Non-Farm Payrolls report is out in a couple of hours and should the actual number deviate strongly from the expectations markets could move beyond the nearest technical levels. We wait for the employment numbers and market reaction to them before considering opening new positions.

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.