How to Choose the Best Forex Brokers

July 31, 2024 Forex Analysis

How to Choose the Best Forex Brokers

Selecting the right forex broker is a critical step in your trading journey. With numerous options available, each offering different features and services, choosing the best one can be overwhelming. In this article, we will guide you through the key factors to consider when selecting a forex broker that suits your needs.

Key Factors to Consider

Regulation and Trustworthiness
- Regulatory Compliance: Ensure that the broker is regulated by a reputable financial authority such as the U.S. Securities and Exchange Commission (SEC), the Financial Conduct Authority (FCA) in the UK, or the Australian Securities and Investments Commission (ASIC).
- Transparency: Look for brokers who are transparent about their fees, trading conditions, and policies.
- Reputation: Check online reviews and forums to gauge the broker’s reputation among other traders.
Trading Platforms
- User-Friendly Interface: The platform should be easy to navigate and understand.
- Functionality: Look for advanced charting tools, customizable layouts, and real-time market data.
- Compatibility: Ensure the platform is compatible with your devices (PC, Mac, iOS, Android).
Account Types and Requirements
- Minimum Deposit: Some brokers require a minimum deposit to open an account, which can vary widely.
- Account Types: Different types of accounts (standard, ECN, VIP) offer varying features such as spreads, leverage, and trading tools.
- Leverage: Higher leverage can amplify both profits and losses. Choose a broker that offers a suitable leverage ratio for your risk tolerance.
Trading Conditions
- Spreads and Commissions: Compare the costs associated with trading, including spreads (the difference between the buy and sell price) and commissions (if applicable).
- Execution Speed: Fast execution speeds are crucial in fast-moving markets like forex.
- Slippage: Understand the broker’s policy on slippage (the difference between the expected price of a trade and the actual price).
Customer Support
- Availability: Look for brokers that offer 24/7 customer support since the forex market operates around the clock.
- Communication Channels: Ensure that the broker offers multiple channels of communication (phone, email, live chat).
- Language Support: If English is not your primary language, check if the broker offers support in your preferred language.
Educational Resources
- Learning Materials: High-quality educational content can help improve your trading skills and knowledge.
- Demo Accounts: Test the broker’s platform and services without risking real money using a demo account.
- Webinars and Seminars: Participate in webinars and seminars to gain insights from experienced traders.
Payment Methods
- Variety: Look for brokers that offer a wide range of payment methods, including bank transfers, credit/debit cards, and e-wallets.
- Processing Times: Withdrawals should be processed promptly and without unnecessary delays.
- Fees: Some brokers charge fees for deposits and withdrawals; ensure these fees are reasonable.
Trading Instruments
- Currency Pairs: Ensure the broker offers the currency pairs you wish to trade.
- Other Instruments: Some brokers also offer trading in commodities, indices, stocks, and cryptocurrencies.
Security Measures
- Data Encryption: Look for brokers that use secure encryption technologies to protect client data.
- Segregated Accounts: Ensure that client funds are held in segregated accounts away from the broker’s operational funds.
Community and Social Features
- Social Trading: Some brokers offer social trading platforms where you can follow and copy the trades of successful traders.
- Community Engagement: Active forums and community engagement can enhance your trading experience.

Choosing the right forex broker is essential for a successful trading career. Take the time to evaluate brokers based on the criteria outlined above. Remember that the best broker for one trader may not be the best for another, so tailor your selection process to your specific needs and preferences. Happy trading!

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

https://www.topforexbrokerscomparison.com

Predicting : When the United States Will Cut Interest Rates

July 31, 2024July 31, 2024 Forex Analysis

Predicting when the Federal Reserve (Fed) will cut interest rates is a complex task that involves analyzing a wide range of economic indicators and global events. Interest rate cuts are typically made to stimulate economic growth during periods of economic slowdown or to prevent a recession. In this article, we will explore the factors that influence the Fed’s decision-making process and attempt to predict when the next interest rate cut might occur.

Factors Influencing Interest Rate Cuts

Economic Data:
- Gross Domestic Product (GDP): A slowing GDP growth rate is a strong indicator that the economy may need a boost.
- Unemployment Rate: An increase in unemployment could signal economic weakness.
- Inflation: If inflation remains below the Fed’s target (currently around 2%), it may prompt rate cuts to stimulate demand and push inflation higher.
Financial Market Conditions:
- Stock Markets: Persistent declines in stock markets can lead to reduced consumer confidence and spending, prompting the Fed to cut rates.
- Bond Yields: Inverted yield curves (where short-term rates are higher than long-term rates) often precede recessions and may trigger rate cuts.
Global Economic Trends:
- Trade Policies: Tariffs and trade disputes can negatively impact the U.S. economy, leading to calls for rate cuts.
- Foreign Exchange Rates: A strong U.S. dollar can hurt exports, which might necessitate rate cuts to weaken the currency and improve competitiveness.
Geopolitical Events:
- Political Instability: Uncertainty caused by political events can dampen economic activity and encourage rate cuts.
- Natural Disasters: Major disasters can disrupt economic activity and require stimulus measures.

Analyzing Current Conditions

As of July 31, 2024, the U.S. economy shows mixed signals. While the unemployment rate remains low, there are concerns about slowing GDP growth and inflation below the target level. Financial markets have been volatile, with some signs of an inverted yield curve. Global trade tensions have eased somewhat, but they remain a concern.

Forecasting the Next Rate Cut

Based on the current economic landscape, we can make an educated guess about when the next rate cut might occur. If the following conditions persist or worsen:

Economic Growth: If GDP growth continues to slow or enters negative territory.
Inflation: If inflation remains stubbornly low.
Financial Market Stress: If stock markets experience prolonged downturns or bond yields continue to invert.

Prediction:

Given the current state of the economy and assuming no significant improvements, we predict that the next interest rate cut by the Federal Reserve could occur in the fourth quarter of 2024 or early 2025. This prediction is contingent on the persistence of the aforementioned economic pressures and the absence of significant positive developments.

While predicting exact dates for interest rate cuts is challenging, analyzing key economic indicators can provide valuable insights. The Federal Reserve’s decisions are influenced by a variety of factors, and the timing of the next rate cut will depend on how these factors evolve. Traders and investors should monitor economic data releases, Fed statements, and market movements to stay informed about potential changes in monetary policy.

Disclaimer: This article provides a general forecast based on current conditions and should not be taken as financial advice. The actual timing of interest rate cuts will depend on various factors and can differ significantly from predictions. It is always advisable to consult with a financial advisor and conduct thorough research before making investment decisions.

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

https://www.topforexbrokerscomparison.com

Free Forex Trading Signals for July 31, 2024

July 31, 2024July 31, 2024 Forex Analysis

Free Forex Trading Signals for July 31, 2024

In the ever-fluctuating world of foreign exchange (Forex), staying ahead of market movements is crucial for traders seeking to capitalize on opportunities. Today, we will provide you with free Forex trading signals for July 31, 2024, based on technical analysis and current market conditions. These signals are designed to help you make informed decisions in your trading activities. Remember that while these signals can be useful, they should be used in conjunction with your own analysis and risk management strategies.

Disclaimer

The information provided here is for educational purposes only and should not be considered financial advice. Trading involves significant risks, including the potential loss of capital. Always conduct your own research and consider consulting with a financial advisor before making any trading decisions.

Market Overview

As of July 31, 2024, the global economy continues to show signs of stability. Central banks around the world have been cautious in their monetary policy adjustments, which has led to a relatively stable environment for currency traders. However, geopolitical tensions remain a key factor affecting market sentiment.

Technical Analysis Indicators

Moving Averages: The 50-day and 200-day moving averages are being closely watched as key support and resistance levels.
Relative Strength Index (RSI): Most major currency pairs are trading within normal ranges, but some show signs of overbought or oversold conditions.
Bollinger Bands: These bands indicate volatility levels, with wider bands suggesting increased movement potential.

Trading Signals

Here are our top trading signals for today:

EUR/USD

Current Price: 1.0841
Support Levels: 1.0800, 1.0750
Resistance Levels: 1.0900, 1.0950
Signal: Buy on a break above 1.0900 with a stop loss at 1.0800 and a take profit at 1.1000. This signal is based on the pair’s recent bullish trend and the possibility of further upside momentum.

GBP/USD

Current Price: 1.2845
Support Levels: 1.2800, 1.2750
Resistance Levels: 1.2900, 1.2950
Signal: Sell if the price breaks below 1.2800 with a stop loss at 1.2900 and a take profit at 1.2700. This signal is based on the bearish divergence seen in the RSI and the potential for a continuation of the downtrend.

USD/JPY

Current Price: 150.14
Support Levels: 149.50, 149.00
Resistance Levels: 150.50, 151.00
Signal: Buy on a strong break above 150.50 with a stop loss at 149.50 and a take profit at 152.00. This signal takes into account the recent bullish momentum and the possibility of further appreciation against the Japanese yen.

Conclusion

These trading signals are intended to provide insights into potential trading opportunities. It is important to remember that the Forex market is highly dynamic, and market conditions can change rapidly. Always use appropriate risk management techniques and stay updated with the latest economic news that may impact the markets.

Happy trading!

Disclaimer: Please note that the signals provided are based on hypothetical scenarios and do not guarantee actual performance. Traders should conduct their own analysis and due diligence.

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

https://www.topforexbrokerscomparison.com

Weekly Commodity Market Report: Oil, Gas, Gold, and More

July 31, 2024July 31, 2024 Forex Analysis

Oil Prices Remain Supported Amid Supply Concerns

Oil prices remained strong last week, despite a slight correction on Friday driven by a stronger dollar and robust U.S. economic data, which sparked concerns about prolonged high interest rates from the Federal Reserve. Falling crude inventories and renewed supply worries continue to support prices. Official data revealed that U.S. crude stockpiles fell by 2.547 million barrels in the previous week, surpassing expectations. Market watchers are also closely monitoring developments in the Middle East, fearing that the Gaza conflict could escalate and disrupt oil production. Additionally, reports of Ukrainian drone attacks on Russian refineries and Ecuador’s state oil company declaring force majeure on Napo heavy crude exports due to pipeline disruptions from heavy rains have heightened supply concerns.

US Gas Prices Decline Amid Increased Supply & European Gas Prices Capped by High Storage Levels

US gas prices fell last week as producers ramped up supply to meet rising demand. Meteorologists forecast continued hot weather through at least July 5, which will boost demand for air conditioning. Although US gas production hit a 25-month low in May, it has since increased. However, gas flows to major US LNG export terminals remain below capacity due to maintenance work.

In Europe, TTF and UK gas prices remain capped by ample storage levels, currently over 74% full. Governments aim to replenish inventories further over the summer, but competition from Asia for LNG could drive prices up. Recent outages in Norway caused temporary price spikes, and high temperatures in Southern Europe are maintaining strong power demand for air conditioning. This may explain why the EU has not yet banned LNG imports from Russia. The EU’s latest sanctions package targets the re-export of Russian LNG shipments but does not restrict direct imports.

Gold Prices Correct Amid Strong US Data

Gold prices were set for a weekly rise before robust U.S. data and a stronger dollar led to a 1.6% drop on Friday. This correction prompted ETFs to increase their holdings. Although total gold held by ETFs has fallen by 5.5% this year, prices have spiked by 13%, with bullion trading close to the record high hit in May. Central bank demand is also supporting prices, with the World Gold Council reporting that around 20 central banks plan to increase their gold reserves.

Silver Prices Near One-Month Lows

Silver prices are near one-month lows as markets assess the global outlook for industrial demand. Overcapacity from Chinese government support for solar panels is likely to keep short-term demand for industrial silver subdued. However, easier monetary policy settings should support global production.

Copper Prices Hit Two-Month Low

Copper prices are on a downtrend, reaching their lowest level in over two months. Disappointing production data from China and high inventory levels are weighing on prices. Additionally, the Federal Reserve’s indication of prolonged high interest rates is not helping.

Elsewhere in Agriculture market

Soybean Prices Decline on Improving US Supply

Soybean prices continue to decline due to signs of improving supply in the US Markets are closely watching Brazil’s stocks, affected by adverse weather and heavy flooding. Furthermore, Brazil’s president issued an executive order limiting tax credits for commodity exports, potentially raising export prices. Wheat prices are also sliding, trading at their lowest level in two months, as optimism about US supply offsets concerns about reduced output in Russia, Ukraine, and the EU.

Sugar Prices Stabilize Above 20-Month Low

Sugar prices ended the week little changed, remaining above the 20-month low touched at the end of last month. Concerns about reduced sugar exports from India and adverse weather in Thailand have helped stabilize prices, but strong output expectations from Brazil are limiting sharp price increases. The USDA predicts a 4.7% rise in sugar output for the 2023/24 season.

Cocoa and Potato Prices Update

Cocoa futures have dropped to their lowest level since the end of last month, with Ghana’s cocoa regulator suggesting improved weather conditions will boost production. Despite this, cocoa prices are nearly 150% higher than a year ago, and high prices are reducing demand. Potato prices have also stabilized, although they remain nearly 30% more expensive than a year ago.

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

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EURUSD BREAKS KEY LEVEL AND LOOKS WEAK

December 9, 2016 Forex Analysis

EURUSD, Daily

The euro eked out a fresh low versus the dollar while yen edged out a new low as most stock markets in Asia picked up the risk-on vibe imparted by the ECB’s announcement of a net increase in stimulus. EURUSD posted a four-day low at 1.0589 in Asian trade before settling to a narrow range in the low 1.06s. USDJPY logged a four-session peat at 114.56, nearing the 114.82 10-month peak seen on November 30. Yen crosses were also firmer today, pointing to a generally soft tone in the Japanese currency. Elsewhere, USDCAD consolidated above the two-month high of yesterday, despite a second day of gains in oil prices. AUDUSD oscillated around 0.7450, holding well within yesterday’s range. European Stock markets, which rallied in the wake of the ECB announcement yesterday, are mixed, with the DAX down -0.11%, against a gain of 0.11% in the French CAC 40 and a rise of 0.13% in the FTSE 100. Eurozone peripherals, which outperformed yesterday, are underperforming and the Italian MIB is down nearly 1%.

The EURUSD closed significantly below the key 20 DMA last night and a SHORT position was opened at 1.0620.There could be some consolidation around this key level, as the Parabolic SAR remains positive and the Bollinger bands are compressing. Target 1 is 1.0550 and then a retest of recent low at 1.0503 and Target 2 1.0500.Thereafter, next support appears at 1.0160, parity 1.000 and 0.9880. The MACD, RSI and OBV are all suggesting more weakness ahead.

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

jmuta Janne 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.

Macro Events & News for 12.09.2016

December 9, 2016 Forex Analysis

FOREX News Today

European Outlook: The global stock market rally, which was underpinned by further ECB stimulus measures yesterday and a rise in oil prices, continued in Asia overnight, with most markets moving higher. The Nikkei 225 briefly broke 19,000, closing a strong week and up again on the day 1.23% at 18,996. The Hang Seng dipped as Macau Casino shares came under pressure, but FTSE 100 futures are also up as are U.S. stock futures. The Dow30 and S&P500 again closed at record highs last night. The front end WTI futures contract is trading above USD 51 per barrel, with Gold under $1170 again. European yields spiked with stock markets yesterday as the ECB settled for “less for longer” although the 10-year Bund contract was up from session lows at the close and extended gains slightly in after hour trade. Eurozone spreads widened but peripheral stock markets outperformed, so somewhat of a split reaction to the central bank’s easing package, but things should continue to settle down today. ECB officials are out en masse explaining and defending the central banks steps and the calendar has German trade data at the start of the session, as well as French production numbers and Norwegian inflation data.

China CPI & PP: CPI higher at 2.3% expectations was for 2.2% from 2.1% last time. PPI was a big beat coming in at 3.3% up from 1.2% last time and well over expectations which were 2.3%. The PPI is at it highest level in 5 years and reflects the increase in both demand in the economy and recent rises in commodity prices. AUDUSD popped on the news to 0.7475 before drifting lower to 0.7465.

German trade surplus narrows as imports surge: Germany posted a trade surplus of EUR 20.5 bln in October, down from EUR 21.1 bln in the previous month, as exports rebounded slightly over the month, but were overshadowed by a 1.3% m/m jump in imports. The three month trend rate improved though, so some indication that net exports, which detracted from growth in Q3 will help to underpin overall growth again in the last quarter of the year. Unadjusted data show a current account surplus of EUR 18.4 bln, down from EUR 21.7 bln in October last year, although accumulated data for the first ten months of 2016 still show a surplus of EUR 216.5 bln, up from EUR 202.1 bln in the corresponding period last year, so pressure on Germany to reduce its current account surplus remains in place.

ECB Statement: Draghi left rates unchanged, as widely expected and the extended QE program settled on a compromise of less for longer, with monthly purchases scaled back, but the overall time frame of the program extended by 9 months rather than the expected 6, which means the total of asset purchases on the cards is higher than markets had been expecting. Indeed, Draghi’s main message was that the ECB will remain active in markets for the foreseeable future and can still step up its support again if and when market and economic conditions warrant such a move. In the press conference he was very adamant that it was NOT tapering. The ECB announced a further extension of the QE program today and while monthly purchase volumes were cut to EUR 60 bln from EUR 80 bln, the length of the program extension is 9 months rather, which means the total program amounts to asset purchases of EUR 540 bln. This is more than the EUR 480 bln a 6 months extension at EUR 80 bln per months would have amounted to and the ECB actually left the door to a further increase of monthly purchases volumes and the overall program length open, depending on actual developments.

Main Macro Events Today

U.S. Michigan Consumer Sentiment The first release on Michigan Consumer Sentiment is out later and should post an increase to 94.5 for the month after rising to 93.8 in November from 87.2 in October. The already released IBD/TIPP Poll for the month revealed an increase to 54.8 from 51.4 and expectations are for the Bloomberg Consumer Comfort measure to remain steady with a 45.1 average in December.

US Wholesale Trade October wholesale trade data is also out today and should reveal a 0.6% sales headline with inventories down 0.4% for the month as indicated by the advance October figures. Data in line with our forecasts would leave the I/S ratio at 1.31 from 1.32 in September.

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

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

Free Forex Trading Signals For 12.09.2016

December 9, 2016 Forex Analysis

#UDSX        101.70—-100.70 Buy at the Buttom, Stop Loss 30 pips, Target at the Top
EUR/USD     1.0670—-1.0520    Sell at the Top,       Stop Loss 40 pips, Target at the Buttom
GBP/USD     1.2660—-1.2520 Sell at the Top,       Stop Loss 40 pips, Target at the Buttom
USD/CHF     1.0220—-1.0120 Buy at the Buttom, Stop Loss 40 pips, Target at the Top
USD/JPY      114.60—-113.30    Sell at the Top,       Stop Loss 40 pips, Target at the Buttom
AUD/USD     0.7500—-0.7420 Sell at the Top,       Stop Loss 40 pips, Target at the Buttom
USD/CAD     1.3230—-1.3150 Sell at the Top,       Stop Loss 40 pips, Target at the Buttom
GOLD 1176.00—1166.00 Buy at the Buttom, Stop Loss 3 $, Target at the Top
Silver   17.15—16.85 Buy at the Buttom, Stop Loss 0.10 $, Target at the Top

Keywords:Forex Trading Signals,Forex Trading Strategy,Forex Trading System,Free Forex Analysis,Forex Forecast

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

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EURUSD BREAKS 1.0800 AS ECB TAPERS QE

December 8, 2016 Forex Analysis

EURUSD, Daily

ECB disappoints with QE tapering. The ECB left rates unchanged, but while the QE program was extended, monthly asset purchases were cut to EUR 60 bln from EUR 80 bln. The central bank said in the initial statement that QE will be increased if the outlook turns less favourable, but that wasn’t enough to prevent a sharp drop in Bund futures, which already declined going into the announcement and are now down 132 ticks on the day, while the cash yield is up 9.3 bp and spreads widen sharply, with the Italian 10-year up 15.2 bp, the Spanish up 13.4 bp and the Portugeuse 10 bp. ECB settles for less monthly QE for longer, in what looks like a typical European compromise. Monthly purchase volumes were cut back, but instead of the 6 months QE extension markets had been looking for the ECB committed to a 9 months extension and also reserved the right to increase monthly purchases if the overall situation changes. And with officials previously stressing that there will be no abrupt end to monthly purchases, this means the ECB will remain in the market for the foreseeable future and the balance sheet will continue to expand with today’s package amounting to at least half a trillion Euros in additional stimulus. So still much for markets to cheer, even if the initial reaction clearly shows disappointment Draghi will hope that things settle down quickly, when the details start to sink in.

EURUSD which had broken 1.0800 earlier falls 50 pts to 1.0750, the ECB press conference up next will be more interesting than usual.

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

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

Macro Events & News for 12.08.2016

December 8, 2016 Forex Analysis

FOREX News Today

European Outlook: The global stock rally continued in Asia overnight, with broad gains following on from rallies on Wall Street and in Europe on Thursday. The Nikkei 225 closed up 1.45% at 18, 765. FTSE 100 and U.S. stock futures are also moving up, but oil prices dipped and the front end WTI future is trading below USD 50 per barrel. Hopes that the ECB will extend its asset purchase program at current levels have been underpinning markets and some seem to hope also for an abolition of the deposit rate floor for purchases or even a foray into stocks to ensure sufficient supply. But while improved economic fundamentals may not prompt the ECB to withdraw from markets at a time when political uncertainty remains high and high debt countries remain reliant on the ECB to keep yields down, the risk is that an ECB compromise proposal could spark disappointment and a correction of inflated markets. The calendar also has French non-farm payrolls as well as Bank of France business sentiment.

Bank of Canada Policy: Steady for an Extended Period; The Bank of Canada delivered the expected lack of change in the policy rate alongside acknowledgement of recent positive developments domestically and internationally. Yet a still cautious tone on the growth and inflation outlook remained, which kept a wait-and-see approach to policy firmly in place. The outlook remains for no change in the currently accommodative policy setting for an extended period of time.

A light has been shone on sterling’s flash crash of October 7 by an FT report citing unnamed officials with knowledge of the BoE’s Prudential Regulation Authority investigation into the incident, in addition to market traders. To recall, the pound dove from 1.2600 to 1.1400 in the space of 40 seconds in the early hours of Asian trading of Friday, October 7. The suggested catalyst seemed pretty innocuous by the standards of post-Brexit discourse, being remarks from France PM Hollande saying that “it is not possible … to leave the EU and get the advantages without the obligations.” The FT’s sources pinpoint the source of the flash crash, which occurred after an initial flurry of selling, to a trader at Citigroup, who placed a large number of rapid-fire sell orders placed in Tokyo using an electronic tool known as “Aggregator.” The sell orders met with zero buying interest due to “extremely illiquid” market conditions and a prevailing extreme bearishness about the pound in the wake of the Brexit vote. Safety nets to prevent a “looping” of sell orders didn’t kick in, apparently. The FT’s BoE source said that human error and the use of a “poorly calibrated execution algorithm” were among the possible reasons for the sell-off.

Yesterday’s US Data Reports: U.S. JOLTS report showed job openings fell 97k to 5,534k in October after climbing 178k to 5,631k in September (revised higher from 5,486k). The job openings rate also rose to 3.7% from 3.6% (revised down from 3.7%). Hirings slid 22k to 5,099k following a 147k drop to 5,121k previously (revised from 5,081k). That resulted in a steady 3.5% hiring rate. Quitters declined 66k to 2,986kk after September’s 43k increase to 3,052k (revised from 3,070k). The rate was unchanged at 2.1%. This report on October jobs won’t impact the FOMC or the markets.

Main Macro Events Today

ECB Outlook – That the ECB will announce an extension of its asset purchase program is pretty clear, but the question for today is whether monthly purchase volumes will be tapered and what additional steps the ECB will take to ensure a sufficient amount of supply. While there will be updated staff projections, this is ultimately a decision that will be based not so much on economic data, but on the question whether Eurozone peripheral markets can withstand a withdrawal of support and changing the EUR 80 bln into an upper limit rather than a monthly target may be a compromise in times of heightened uncertainty, with a 6 months program extension and a change of the EUR 80 bln monthly purchases from a “target” to an “upper limit”.

US Initial Job Claims – Initial claims data for the week of December 3 is out later and expectations are for the headline to fall to 255k from 268k last week and 251k in the week before that. Claims have been striking a remarkably tight path of late and look poised to average 251k in November, down from 258k in October.

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

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

Free Forex Trading Signals For 12.08.2016

December 8, 2016 Forex Analysis

#UDSX        100.75—-100.05 Buy at the Buttom, Stop Loss 20 pips, Target at the Top
EUR/USD     1.0780—-1.0690    Sell at the Top,       Stop Loss 30 pips, Target at the Buttom
GBP/USD     1.2675—-1.2565 Sell at the Top,       Stop Loss 40 pips, Target at the Buttom
USD/CHF     1.0100—-1.0050 Buy at the Buttom, Stop Loss 25 pips, Target at the Top
USD/JPY      114.35—-113.35 Buy at the Buttom, Stop Loss 40 pips, Target at the Top
AUD/USD     0.7500—-0.7430 Sell at the Top,       Stop Loss 30 pips, Target at the Buttom
USD/CAD     1.3315—-1.3215 Buy at the Buttom, Stop Loss 30 pips, Target at the Top
GOLD 1181.00—1166.00 Buy at the Buttom, Stop Loss 8 $, Target at the Top
Silver   17.40—17.00    Buy at the Buttom, Stop Loss 0.20 $, Target at the Top

Keywords:Forex Trading Signals,Forex Trading Strategy,Forex Trading System,Free Forex Analysis,Forex Forecast

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

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