USOil hits Target 2 and goes into reverse

2016-08-31_11-35-27

USOil Daily              

Before I left for holidays I had two open trades, USOil (Buy) and UK100 (Sell). The USOil trade hit Target 2 ($44.55) from my entry at $39.79 and continued all the way to north of $48.50 before turning south again.  The UK100 trade was closed on the rally to 6880 from my entry at 6720 in the middle of July.

Today I have re-entered the USOil trade ($46.25) this time on the short side as the psychological $47.00 level and 61.8 fib level were both breached and broken on yesterdays close. Target 1 at $44.55 is above the 38.2 Fib level and a little over the 2 week ATR. However, it is but below the 50.0 Fib level, 20 and 50 DMA which all currently coalesce around $45.50, so expect some resistance here before the move lower.  Target 2 at $42.25 and sub $40.00 again, cannot be ruled out.

Alternatively, the $45.50 areal could provide support for a move back to the August high of $48.88 and another attempt to break the psychological $50.00. OPEC sees demand for oil increasing during Q3 and Q4 of 2016 and that higher prices will prevail. The International Energy Forum (IEF) meets September 26-28 in Algeria with OPEC member countries due to meet informally during the event.

Today the crude markets have ignored remarks from the Iraqi PM that he supports proposals by OPEC for a production freeze, which is set to be discussed at next month’s meeting. Most energy analysts have been downplaying prospects for a production freeze due to Iran’s ongoing build up of supply following the lifting of sanctions (production still remains well off pre-sanction levels), which has been irksome to Saudi Arabia.

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.

AUDUSD keeps on going and going

2016-08-10_14-18-40

AUDUSD, Daily              

The Aussie and Kiwi dollars are outperforming so far today, showing respective gains of 0.6% and 0.8% against the USD. (See our Traders Board for details) Fitch’s AA rating for long-term New Zealand sovereign debt helped the Kiwi dollar higher, while gains in commodity prices have also been supportive for both the antipodean currencies. Expectations for a 25 bp rate cut by the RBNZ at its review tomorrow have been fully baked in. Yield differentials are also strongly in their favour relative to core developed-world benchmarks, which, in the case of Australia was given sharpened relevance by last week’s RBA Statement on Monday Policy which noted that CPI was expected to pick up “gradually to around 2% by the end of the forecast period,” signalling that the central bank may be done with easing following quarter-point cuts last week and in May.

Current intraday percentage change of currencies against other major currencies since the last daily close at 23:59:59 server time.

2016-08-10_15-34-282016-08-10_15-31-59

Technically, the AUDUSD remains in a strong up trend since it broke and held the 20 DMA (August 2), which offers a support area 0.7620-0.7590. The near two week rise from the 23.6 Fibonacci level and psychological 0.7450 level could lead to a re trace to 0.7690 before Target 1 at 0.7840 and Target 2 at 0.8000.

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 Oil hits Target 1 at $42.25

2016-08-08_13-02-41

USOil, Daily              

On Friday (August 5) I posted my analysis from overnight and the webinar on Thursday for the Oil market and how we were expecting a bounce and retrace from the significant two week decline.

This morning Target 1 was achieved at $42.25 from our entry at $39.79. Target 2 and the 38.2 Fib retracement remains at $44.15.  There has been some news from OPEC too this morning that has helped the retrace. They announced that they will meet “informally” on the sidelines at the IEF (International Energy Forum) conference in September. Also that they see demand for oil increasing in Q3 and Q4 and that the decline in the Oil price is only temporary and that higher prices should prevail during the rest of 2016.

2016-08-04_11-30-47

In the short term $42.00 and $41.80 could now become a support levels with $42.50 the resistance level, then $43.20 and our target 2 over $44.00.

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.

Stock Markets – GER30 approaches the 200DMA

2016-08-03_14-45-21

GER30, Daily             

Global stock markets achieved new highs during July and continue to grind ever higher as the only game in town for investors. However, the rate of increase has slowed and with the end of the earnings season and August upon us investors may be looking to realise some profits and square positions for the holiday month.

A scan of the equity markets (we are already SHORT UK100 from July 14) highlighted the GER30.  A failure to break 10,400, pressure on the key banking and automotive sectors and persistently flat PMI figures has seen two big down days on the key German equity market.  The misalignment of the moving averages suggests that we are at best in a consolidation phase.  My preference would be for a short position if the 200 DMA was breached and broken significantly on the daily time frame. This would mean a clear close below 10,077 which would generate Target 1 at  9960 and Target 2 9782.

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.

Manufacturing PMI – Better in Europe, Worse in UK

2016-08-01_12-37-09

EURGBP, H4            

Final Eurozone manufacturing PMI was unexpectedly revised higher, slightly, to a reading of 52.0 versus the preliminary estimate of 51.9. This is down form 52.8 in June, indicating an abatement in the pace of expansion in the sector. Weakness in France and in peripheral economies weighed on the pan-region reading, offsetting a rise in activity in Germany and some of the smaller northern European member nations. The lop-sidedness was strong, with France showing a sub-50.0 contractionary reading of 48.6, although this was a four-month high and a rise from 48.3 in June. Greece’s reading was 48.6, while at the other end of the spectrum; Germany’s was 53.8, which is the lowest reading in two months.

Meanwhile, across the English Channel in post Brexit UK; UK final manufacturing PMI for July unexpectedly revised lower, to 48.2 from the preliminary estimate for 49.1. This follows 52.1 in June, with the deterioration blamed squarely on disrupting uncertainties thrown up the June-23 to exit the EU. The preliminary estimate comprised 80% of the survey’s responses, and the big revision suggests that the first month after the Brexit vote was even worse than previously thought. The final composite PMI will be released on Wednesday alongside the final services PMI reading. The flash composite PMI dove to 47.7, consistent with Q3 GDP of -0.4%. Sterling took a clobber on the data today. BoE MPC member Weale, who is by reputation a relative hawk on the policy-setting Committee, suggested last week that the dismal preliminary PMI data had convinced him that the policy loosening would be justified.

EURGBP rallied to 0.8470 on the news release and the GBPUSD was as low as 1.3171, before recovering to 1.3180.

We remain in SHORT positions in Cable (from 1.3450 July 14th) and GBPJPY (from 138.77 July 27th).

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 Data – all relatively positive today

2016-07-26_17-20-09

EURUSD, H4            

Consumer Confidence, New Home Sales, Richmond Fed Manufacturing Index and Services PMI and relatively positive and better than expected.

U.S. consumer confidence dipped 0.1 point to 97.3 in July after jumping 5.0 points to 97.4 in June (revised from 98.0). The index was 91.0 last July. The present situations component climbed to 118.3 from 116.6 (revised down from 118.3). The expectations index fell to 83.3 from 84.6 (revised from 84.5). The labor market differential rose to 0.7 from -0.5 (revised from 0.1). The 12-month inflation index slowed to 4.7% from 4.8% (revised from 4.7%). The headline data are better than forecast.

 U.S. new home sales rose 3.5% to 0.592 mln in June, well above expectations (and is the best since February 2008), following an unchanged 0.572 mln print in May (revised up from 0.551 mln). April’s prior 12.3% surge to 0.586 mln was revised down to a 6.5% increase to 0.572 mln. Sales were mixed regionally with gains in the West and Midwest. The months’ supply of homes fell to 4.9 from 5.1 (revised from 5.3). The median sales price jumped 6.2% to $306,700 following a 9.8% drop to $288,800 (revised from $290,400). On an annual basis, prices are up 6.1% y/y following a 0.5% y/y pace.

U.S. Richmond Fed manufacturing index climbed 20 points to 10 in July after dropping 10 points to -10 in June (revised from -7). Most of the components improved, with upward revisions to several of the June readings. The employment index rallied to 6 from 1 (revised from -1). The workweek bounced to 1 from -7 (revised from -4). Wages dipped to 14 from 15 (revised from 14). New orders surged to 15 from -17 (revised from -14). Prices paid slowed to 0.64% from 1.14% (revised from 1.25%), with prices received at 0.48% from 0.79% (revised from 0.88%). The 6-month index improved to 19 from 11 (revised from 9), with employment at 7 from 2 (revised from -1).

U.S. Markit services PMI fell 0.5 points to 50.9 in the flash July reading, after inching up to 51.4 in June from 51.3 in May. It was at 55.7 a year ago. The numbers indicate the service sector remains in expansion for a 5th straight month, but only marginally, after slipping to 49.7 in February. The employment component rose to 52.6 from 52.4. The composite index edged up 0.3 points to 51.5 versus 51.2 in June and 50.9 in May.

EURUSD continues to meander lower, currently trading at 1.0990 having been as high as 1.1029, buyers appeared around 1.0980 earlier but 1.1000 could not be maintained.

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 better than expected, Outlook OK

2016-07-25_12-01-19

EURUSD, H4            

The German Ifo holds up better than feared, with the overall reading coming in a tad above our forecast, which was already more optimistic than consensus. The expectations index eased to 102.2 from while the current conditions indicator unexpectedly improved and rose to 114.7 from 114.6 in the previous month. This brought the overall index to 108.3, down from 108.7, but versus our median of 107.9 and much higher than Bloomberg consensus of 107.5. Confidence in the construction and retail sectors actually improved and like the PMIs the data confirms that the financial sector has been hit more by the Brexit vote than real sector confidence, at least so far. More than to back Draghi’s wait and see stance.

Yesterday (Sunday) meanwhile, the Bundesbank President Jens Weidmann told reporters after the G-20 finance chiefs’ meeting that German growth will accelerate again in the second half and that the G-20 agreed that the world economy will continue to recover, even if Brexit was singled out as a risk factor and it must not be used as an excuse for expansive fiscal policies.  A “straight bat” as ever from the combative Weidmann.

EURUSD continues to meander lower, currently trading at 1.0980 having been as low as 1.0951, buyers appeared around 1.0960.  Our Daily trade is still open with target 1.0930.

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 looking interesting on break of 20 DMA

2016-07-22_15-51-00

EURAUD, Daily            

The EURAUD pair first caught my eye yesterday (July 21) after a long sustained (over 30 day) down move from the May 24 high. It  formed a five day floor around the 1.4520 level earlier this week and then rallied and attempted to break the 20 DMA and 23.6 Fibonacci zone around 1.4730-1.4750.  A close above 1.4730 on the Daily chart will generate a LONG position with Target 1 at 1.4870 and Target 2 1.5025.

2016-07-22_16-35-43

Janne Muta

Chief Market Analyst

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

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

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

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


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

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

GBPAUD did not run out of steam in time

2016-07-22_12-44-22

GBPAUD, H4            

Our 4h GBPAUD Short trade yesterday was stopped out. Accepting a loss is part of successful trading and probably one of the most difficult psychological factors to overcome. However as with any business it is important to accept your losses, learn from them and move on.  Good Risk and Money Management keep you in the game and allow you to keep trading.  The trade has been logged in our Trading Journal and we wait for the next wave on the trading ocean to arrive.

As I type the pair is back through our entry price (1.7596) and looks like it could hit our 50 pip target, (1.7546) following the very poor UK PMI data. That is how it goes sometimes.

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.

PMI – UK Big miss, Germany & France OK

2016-07-22_12-02-00

GBPUSD, H4            

UK flash July PMI plunged to 47.7 in the composite reading from 52.2 in June and below the median forecast for a decline to 48.5. The headline and nearly all of the component parts fell at the lowest levels since the height of the financial crisis in early 2009, giving a clear indication of the impact that the Brexit vote has had. Markit, the compiler of the survey, described the data showing a “dramatic deterioration in the economy,” estimating that the data is signalling a 0.4% contraction in Q3 GDP, assuming that August and September continue the slowing seen this month. A sharp drop in new orders, to 45.5 from 52.3, and a dive in the expectations component of the services PMI, both good leading indicators of the economy, suggest that the pain will continue. Sterling dove over a big figure to a 1.3165 low versus the dollar in the wake of the data release. The flash indicator is based on 80% of responses to the full survey. Final data will be released at the beginning of August.

The 4h chart has support at the 20 MA at 1.3182 and 1.3110 and resistance at 1.3275.

Meanwhile across the English Channel, French and German PMIs better than expected. French manufacturing as well as services PMIs unexpectedly improved in July, and while the German manufacturing reading eased, it fell back less than feared and remains firmly above the 50 point no change mark, while the services reading actually jumped higher. So a confirmation of what French national business sentiment numbers already indicated yesterday, namely that the impact of the Brexit vote on real sector sentiment has been limited so far, even as uncertainty increases. The financial sector by contrast has been hit severely, which confirms the issues Draghi raised yesterday – the apparent divergence between financial market and real sector confidence.

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.