Signals Articles

GBP FALLS AS INDUSTRIAL & MANU. PRODUCTION MISS

Forex Analysis
2016-12-07_11-56-25

GBPUSD, Daily               

The pound has come under pressure in London trading today. EURGBP buying has been a driver, with the cross rallying some 0.5% to a peak of 0.8510, since ebbing to around 0.8490. Gains failed to sustain above the 20-day moving average, which is at 0.8503. Cable, meanwhile, has clocked a three-session low below 1.2600, following the UK production data (see below) making today the first day the pair has fallen below its previous-session’s low since November 28. Recent give-away remarks and leaks have suggested that the government is intending a “soft” Brexit have, along with the BoE’s shift last month to a neutral from a dovish stance and a loosening of fiscal policy, been underpinning recent sterling outperformance. There are still a lot of unknowns regarding how Brexit will unfold and how it will impact medium-to long-term economic performance. The pressure on sterling remained

UK production data unexpectedly contracted in October data. Industrial output fell 1.3% m/m, the biggest fall in four years, accelerating from September’s 0.4% contraction. The median forecast had been for a 0.2% m/m gain. In y/y terms, industrial production fell 1.1% after a 0.4% gain in the previous month, the biggest decline since August 2013 and wrong-footing the market expectation for a 0.4% gain. The ONS stats office reported that ongoing maintenance in the oil and gas extraction industry affected industrial output. The narrower manufacturing production gauge, however, which excludes the oil industry, fell 0.9% m/m and by 0.4% y/y following respective prior-month gains of 0.6% and 0.1%, thwarting market expectations for 0.2% m/m and 0.8% y/y advances. Sterling traded 0.2% lower versus the dollar in the wake of the data release.

The psychological 1.2600 is key as the pair remains positive on the Daily time frame with short term resistance at 1.2720 and support at 1.2580 and 1.2500.

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.

OIL PRICES FOLLOWING THE OPEC MEETING

Forex Analysis
2016-12-02_16-49-02

USOil, Daily               

The crude oil market has continued to surge higher after last week’s deal by the OPEC cartel to cut production. The jury is still out on whether or not OPEC/Russia can implement the agreed production cuts, though as long as the psychologically important $50 level holds, upside focus will continue.

Fundamentally, the 1.2 million barrels per day (bpd) production cut agreed within OPEC in Vienna, following failure earlier in the year at Doha and Algiers, could be the tipping point the oil industry has been waiting for.  It is hoped non-OPEC countries will contribute a 600,000 bpd cut (with 300,000 coming from Russia). Russian and OPEC officials are said to be meeting in Moscow 10th December to finalize the agreement.  Agreement is one thing but implementation remains open to question as historically OPEC countries have been very reluctant to stick to their own agreed quotas. Monitoring any agreement remains difficult.

Technically, there is resistance, a strong pivot point and triple high around the $51.85 level on the Daily chart. Today USOil trades north of this level at $52.00 as the USD weakens a little, following a strong run during November and in line NFP figures on Friday.

Over the longer-term the Monthly time frame shows support around the 20 period moving average at $50.50 and an upside Target 1 of $56.00 (38.2 Fibonacci level) and Target 2 $62.00 (50 period moving average) should the $55.00 resistance area be breached.

2016-12-05_15-41-34

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 – $1170 – A KEY LEVEL

Forex Analysis
2016-12-01_16-49-27

XAUUSD, Daily               

The Gold price has been under significant pressure since US Election day (where it touched $1334 intra-day) and has just closed its worst month in over three years, having declined 8% in November. Earlier today it tested and then broke the key psychological and technical $1170 level.  Should this break be maintained then I would be looking for SHORT positions with an initial Target 1 at $1144 and Target 2 $1120.

The $1170 level represents the 61.8 Fibonacci retracement level from the 2016 high in June at $1375 and a 10 month low for the Gold price. The USD strength during November has added to the decline in the price, together with the tightening of capital flows out of China.  Today the London FT reported that China (a major buyer of gold it all its forms) is tightening gold import quotas to prevent USD outflows from the country.  Chinese banks will be required to use USD quotas when buying gold.

The RSI and MACD suggest the price is already oversold, however the widening Bollinger bands remain pointing down, the Parabolic SAR, and On Balance Volume suggest further downside potential.

Janne Muta

Chief Market Analyst

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

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

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

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


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

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

US Durable Goods – Weak – But USD Gains

Forex Analysis
2016-10-27_16-33-20

USDJPY, Daily               

The U.S. durables report revealed lean September orders ex-transportation with a small drop in transportation orders and a big drop for defense, alongside divergent equipment data with shipments gains that lifted Q3 prospects slightly, but with orders weakness that slightly trimmed Q4. We also saw firm shipments data and lean inventories that left no impact on  3.3% Q3 GDP forecast. Expectations are for a 2.6% (was 2.9%) contraction rate for real equipment spending in tomorrow’s GDP report, after a 2.9% rate of decline in Q2. Also expect an $11 (was $12) bln Q3 inventory addition that leaves a $2 bln accumulation rate, following five prior consecutive inventory subtractions that culminated with a $9.5 bln liquidation rate in Q2 that was the first drop since 2011.

U.S. initial jobless claims fell 3k to 258k in the week ended October 22 from a revised 261k previously (was 260k). That brought the 4-week moving average up to 253.0k from 252.0k (revised from 251.75k). Continuing claims declined 15k to 2,039k in the week ended October 15 versus the prior 4k rise to 2,054k (revised from 2,057k). The BLS said there were no special factors affecting claims last week.

The USD reacted positively to this as USDJPY hit a three month high at 104.88, EURUSD 1.0918 and Cable continues to pivot around 1.2200 at 1.2215. Gold dipped too and trades under USD 1270.00.

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.

EURCAD Hits Target 1 & EURAUD looks interesting

Forex Analysis
2016-10-27_12-11-38

EURAUD, Daily               

Yesterday’s EURCAD LONG post hit Target 1 (1.4620) later in the day as the trickle of news out of Europe improved and the US Oil price remained firmly below USD 50 for a short term net gain of 70 pips. Target 2 remains at the psychological 1.4700. Today’s Eurozone news is that Spanish unemployment dropped to 18.9% in Q3 from 20.0% in the second quarter. The improvement is more pronounced than expected, but levels remain high, especially among the under 25s which is also a social problem and one of the reason behind the rise in support for protest parties.

The EURAUD also looks interesting on the daily chart. Yesterday’s large wick on the candle to a 17 month intra-day low of 1.4126 was quickly bid up to close the day at 1.4255.  The overnight rally to 1.4300 prompted a long position for a short term Target 1, a little over the rising 14 DATR (0.0140), at 1.4410. The Target 2 is a little north of the 38.2 Fibonacci level and 20 DMA at the psychological 1.4500.  The RSI remains positive at 40 and rising, the short-term stochastics are positive and rising and the Parabolic SAR turn positive yesterday too.

Janne Muta

Chief Market Analyst

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

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

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

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


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

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

US Durable Goods – Weak – But USD Gains

Forex Analysis
2016-10-27_16-33-20

USDJPY, Daily               

The U.S. durables report revealed lean September orders ex-transportation with a small drop in transportation orders and a big drop for defense, alongside divergent equipment data with shipments gains that lifted Q3 prospects slightly, but with orders weakness that slightly trimmed Q4. We also saw firm shipments data and lean inventories that left no impact on  3.3% Q3 GDP forecast. Expectations are for a 2.6% (was 2.9%) contraction rate for real equipment spending in tomorrow’s GDP report, after a 2.9% rate of decline in Q2. Also expect an $11 (was $12) bln Q3 inventory addition that leaves a $2 bln accumulation rate, following five prior consecutive inventory subtractions that culminated with a $9.5 bln liquidation rate in Q2 that was the first drop since 2011.

U.S. initial jobless claims fell 3k to 258k in the week ended October 22 from a revised 261k previously (was 260k). That brought the 4-week moving average up to 253.0k from 252.0k (revised from 251.75k). Continuing claims declined 15k to 2,039k in the week ended October 15 versus the prior 4k rise to 2,054k (revised from 2,057k). The BLS said there were no special factors affecting claims last week.

The USD reacted positively to this as USDJPY hit a three month high at 104.88, EURUSD 1.0918 and Cable continues to pivot around 1.2200 at 1.2215. Gold dipped too and trades under USD 1270.00.

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.

EURCAD Hits Target 1 & EURAUD looks interesting

Forex Analysis
2016-10-27_12-11-38

EURAUD, Daily               

Yesterday’s EURCAD LONG post hit Target 1 (1.4620) later in the day as the trickle of news out of Europe improved and the US Oil price remained firmly below USD 50 for a short term net gain of 70 pips. Target 2 remains at the psychological 1.4700. Today’s Eurozone news is that Spanish unemployment dropped to 18.9% in Q3 from 20.0% in the second quarter. The improvement is more pronounced than expected, but levels remain high, especially among the under 25s which is also a social problem and one of the reason behind the rise in support for protest parties.

The EURAUD also looks interesting on the daily chart. Yesterday’s large wick on the candle to a 17 month intra-day low of 1.4126 was quickly bid up to close the day at 1.4255.  The overnight rally to 1.4300 prompted a long position for a short term Target 1, a little over the rising 14 DATR (0.0140), at 1.4410. The Target 2 is a little north of the 38.2 Fibonacci level and 20 DMA at the psychological 1.4500.  The RSI remains positive at 40 and rising, the short-term stochastics are positive and rising and the Parabolic SAR turn positive yesterday too.

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.

EURCAD looks interesting after GBP fall

Forex Analysis
2016-10-26_10-51-49

EURCAD, Daily               

Data out of the Eurozone this week has so far have been net encouraging, even though the earlier release of German consumer confidence survey missed expectations. The German October Ifo business sentiment survey came in yesterday at 100.5, up from 109.5 in the previous month, tallying with strong PMI readings for Germany on Monday. French national business confidence numbers were weaker than hoped, but the readings at company level were better. This combined with USOil breaking the psychological USD 50.00 level, lead me to the EURCAD pair.

Yesterday’s breach and break of the 38.2 Fibonacci level, following rejection on Friday and Monday, suggested further strength into the 50.0 Fibonacci level and the 1.4600 level. Entry was today at 1.4550 with Target 1 1.4620 where the 20, 50 DMA are found.  Target 2  is at the next psychological level and a little over the 14 DATR at 1.4700.  The RSI remains over 50 and positive and also the Parabolic SAR reversed today too. However, the short term Stochastics are suggesting the current up move may be overbought.

The volatility in the sterling yesterday, closed my, against the trend LONG trade in GBPAUD for a net loss of 120 pips, the GBPCHF position remains open.

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 Ifo data better than expected

Forex Analysis
2016-10-25_11-42-01

EURUSD, Daily                

German Oct Ifo index stronger than expected at 110.5, up from 109.5 in the previous month. The better than expected number ties in with the strong PMI readings for Germany yesterday and the fact that the expectations index jumped to 106.1 from 104.5 and against expectations of a marginal rise to 104.6 is particularly encouraging. The German recovery at least remains intact and even though the French national business confidence numbers earlier came in weaker than hoped, the readings at company level were not that bad, so it still seems the overall Eurozone recovery continues as planned, despite the Brexit scenario adding uncertainty and despite the fact that the weaker Pound has lifted comparative competitive measures in favour of the U.K.. German Ifo diffusion index rose to 13.8 from 11.9 in the previous month, with the manufacturing reading improving to 16.7 from 13.3 and construction confidence rising to 10.2 from 9.3. Confidence in wholesale and retail trade meanwhile remains in positive territory, but fell back somewhat from September. Overall though, the improvement to the highest reading since 2014 in the Ifo and the fact that optimists outnumber pessimists across all sectors shows that the recovery is broadly based and remains intact.

EURUSD ticked up to day highs at 1.0892 and EURGBP touched 0.8908. US consumer confidence, the Case-Shiller US home price index and speeches from Governor Carney and President Draghi still to come later 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.

stock markets – Always an interesting week

Forex Analysis
2016-10-24_16-25-11

USA30, Daily                

The final week of October is always interesting for global and particularly US stock markets.  October 28-29 1929 was the infamous Wall Street Crash when the Dow Jones Industrial Average (Dow) lost close to 25% of its value in 2 days and triggered the 10 year Great Depression.  It also marks in the USA, every 4 years, the two week count down to the US Presidential Election and the busiest week of Earnings Season; lots of potential fundamental news to de-rail or propel stock markets.

This year is not really any different; there is a tight two horse race for the White House following a two term President, some strong earnings reports already registered and key players ready to report this week. The Q3 earnings announcements peak this week with about one third of the Dow and one third of the S&P reporting, including the two biggest stars Apple (Tuesday) and Alphabet (Thursday). Through the earnings season so far, 7 of the 11 S&P sectors have recorded profit growth, while earnings have beaten expectations by nearly 7%. This week’s results will be eagerly followed.  History also shows that following a two term president, markets can rally on a victory for the incumbent’s party (Mrs Clinton) and are flat or negative for the year if there is a change of party in the White House.

All these fundamentals lead me to look at a rebound in the US stock markets from their range bound patterns.  The Dow (USA30) touched the floor of its channel and the lower Bollinger band on Friday (October 21), only to break above the 20 DMA today and generate a short term LONG position. Entry was at 18,220 with Target 1 the top of the Bollinger band, trading range and north of the 50 DMA at the psychological round number of 18,400.  A clear break of this range and a new all-time high would be target 2 at 18,660.

The S&P500 (USA500 and the world’s most important stock market)  is in a similar range and triggered an entry at 2140.00, with Target 1 2170.00 and Target 2  2192.00.  

U.S. flash Markit PMI jumped 1.7 points to 53.2 in October, after falling 0.5 points to 51.5 in September from 52.0 in August. This is the highest since last October’s 54.1 print. New orders rose to 54.7 from 51.1, though the employment component declined. The better than expected headline is consistent with expectations for a pick up in activity in Q4.

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.