InvestMacro

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex – While the Chinese “2019-nCoV” virus is slowly spreading around the world, stock and currency markets are escaping risks and switching to “safe haven” assets. In this case, the American Dollar is the best choice.

However, in this case, demand is a bit overshadowed by rather mixed numbers from the USA published last Friday. For example, according to preliminary estimations, the Markit Manufacturing PMI dropped to 51.7 points in January after being 52.4 points the month before. On the other hand, the Markit Services PMI went from being 52.8 points in December to 53.2 points this month.

This week, the US Federal Reserve is scheduled to have its first meeting this year and expected to decide on its monetary policy. The key interest rate will apparently remain intact, but that’s not 100%. Investors will switch their attention to the regulator’s comments that will follow after the meeting is over.

In the H4 chart, EUR/USD has reached its predicted downside target at 1.1055. Looking at the fifth descending wave, we may assume that the price may continue falling with the target at 1.1012. After forming another consolidation range around 1.1035, the pair has broken it downwards and many continue falling towards the above-mentioned target. Possibly, today the instrument may reach it and then form a reversal structure for a new correction towards 1.1094. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving below 0 inside the histogram area. The line is expected to leave the area and grow to break 0. After that, the instrument may boost its growth on the price chart.

As we can see in the H1 chart, after breaking 1.1035, EUR/USD has reached 1.1019. Today, the pair may correct to test 1.1035 from below. Later, the market may start another decline towards 1.1012 and then form one more ascending structure with the first target at 1.1050. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is moving below 50 and may continue falling to reach 20. Later, the indicator may grow to return to 50. After this level is broken, the price may boost its growth on the price chart.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

By OilPrice.com

The global oil and gas industry is facing the “twin threats” of the loss of profitability and the loss of social acceptability as the climate crisis continues to worsen. The industry is not adequately responding to either of those threats, according to a new report from the International Energy Agency (IEA).

“Oil and gas companies have been proficient at delivering the fuels that form the bedrock of today’s energy system; the question that they now face is whether they can help deliver climate solutions,” the IEA said.

The report, whose publication was timed to coincide with the World Economic Forum in Davos, critiques the oil industry for not doing enough to plan for the transition. The IEA said that companies are spending only about 1 percent of their capex on anything outside of their core oil and gas strategy. Even the companies doing the most are only spending about 5 percent of their budgets on non-oil and gas investments.

There are some investments here and there into solar, or electric vehicle recharging infrastructure, but by and large the oil majors are doing very little to overhaul their businesses. The top companies only spent about $2 billion on solar, wind, biofuels and carbon capture last year.

Before even getting to the transition risk due to climate change, the oil industry was already facing questions about profitability. Over the past decade the free cash flow from operations at the five largest oil majors trailed the total sent to shareholders by about $200 billion. In other words, they cannot afford to finance their operations and also keep up obligations to shareholders. Something will have to change.

But, of course, as climate policy begins to tighten, oil demand growth will slow and level off. Most analysts say that it won’t require a big hit to demand in order for the financial havoc to really begin to devastate the balance sheets of the majors. Demand only needs to stop growing.

The IEA said there are things the industry can do right now – and should have done a long time ago. Roughly 15 percent of the energy sector’s total greenhouse gas emissions comes from upstream production. “Reducing methane leaks to the atmosphere is the single most important and cost-effective way for the industry to bring down these emissions,” the IEA said. But, the Permian is flaring more gas than ever, and methane leaks at every stage of the extraction and distribution process. Drillers have promises improvements, but the industry’s track record to date is not good.

Meanwhile, the IEA also noted that while attention is often focused on the oil majors, national oil companies (NOCs) account for more than half of global oil production. The majors only account for about 15 percent.

It is one thing for ExxonMobil or Chevron to face an existential crisis – which, absent an attempt to transition to a low-carbon business, they certainly do – but it’s an entirely different thing for the NOCs who will struggle to deal with the energy transition. The threat from the energy transition is not just to a specific business, but to whole governments and entire populations. “Some are high performing, but many are poorly positioned to adapt to changing global energy dynamics,” the IEA said. “None of the large NOCs have been charged by their host governments with leadership roles in renewables or other noncore areas.”

Ultimately, the report from the IEA should be worrying for the industry. The agency itself has faced criticism for not being more at the forefront of calling for a clean energy transition, and its forecasts for renewables have consistently undershot actual improvements for renewable technologies. The agency also continues to call for more upstream oil and gas investment. In other words, the IEA is somewhat conservative, and has been slow to recognize major shifts in the energy sector.

As such, the majors should probably take note when the IEA says something like “the transformation of the energy sector can happen without the oil and gas industry.” They can drag their feet, and will become increasingly ravaged by policy change and a deterioration in their core business. Or, they could proactively transform themselves, as the IEA says they should. Solutions to climate change “cannot be found within today’s oil and gas paradigm,” the agency said.

Link to original article: https://oilprice.com/Energy/Crude-Oil/The-Twin-Threats-Facing-Big-Oil.html

By Nick Cunningham of Oilprice.com

By TheTechnicalTraders.com

News is traveling fast about the Corona Virus that originated in Wuhan, China.  Two new confirmed cases in the US, one in Europe and hundreds in China.  As we learn more about this potential pandemic outbreak, we are learning that China did very little to contain this problem from the start.  Now, quarantining two cities and trying to control the potential outbreak, may become a futile effort.

In most of Asia, the Chinese New Year is already in full swing.  Hong Kong, China, Singapore, Malaysia, India and a host of other countries are already starting to celebrate the 7 to 10 day long New Year.  Millions of people have already traveled hundreds of thousands of miles to visit family throughout this massive celebration.  We are certain that hundreds or thousands have traveled to all parts of the world by now.  The potential for exponential growth in the threat from this virus could be just days or weeks away.

Far too many people are too young to have any knowledge of the 1855 Third Plague Pandemic that originated in China.  This outbreak quickly spread to India and Hong Kong and claimed 15 million victims.  It lasted until the 1960s when active cases of the Plague dropped below a couple hundred.

If we consider the broader scope of this issue, we have to take into consideration the results it may have on the broader global economy, commodities and consumer activity as skilled traders.

The world is much bigger than it was in 1855.  We have more technology, more capability and faster response capabilities related to this potential pandemic.  Yet, we also have a much greater heightened inter-connected global economy, currency, and commodity markets.  What happened in China can, and may, result in some crisis events throughout the planet.  It is not the same world as it was in 1855. (Source: history.com)

It is far too early to speculate on any future economic outcomes related to this potential outbreak, but it is fairly certain that China, most of Asia, India and potentially Africa could see extensive economic damage related to a contraction in consumer and industrial economic demand as a consequence of this outbreak.  Once the Chinese New Year ends, in about 10 to 15+ days, people will return back to their home cities and we’ll begin to understand the total scope of this problem.  If the problem continues to be isolated in China, Asia and within that general region, then we may see economic consequences isolated to these regions.  If not, then we could see a much bigger and broader global economic consequence setting up.

The 1855 Plague Pandemic lasted for nearly 100 years and wiped out 1.25% of the total global population.  This was at a time when air travel was very limited and global economics was a much smaller component of the total global economy.  Everything is somewhat isolated at that time. In today’s world, a similar type of event could wipe our 1% to 5% of the total global population before we have any means to attempt to control it.

Bill Gates believes this outbreak could kill more than 30 million people within 6 months (Source: businessinsider.com)

It is time to get real about this and prepare for how the global markets will interpret this potential outbreak.

We’ve been warning that the market was “Rallying To A Peak” recently and believe this outbreak has changed the minds of traders.  This could the catalyst that breaks the bullish trend for quite a while.  Skilled traders will be trying to get ahead of this rotation in the markets and attempt to deleverage risk.  As retail traders, we should be doing the same thing – deleveraging risk, buying metals, trimming open long positions and hedging into inverted ETFs.

Daily ES Chart

This Daily ES chart highlights a very real support level near 3050 that also aligns with the longer-term Moving Average.  A downside move like this would represent a -10 to -11% downside price reversion and take us back to December 2019 price levels.  It could happen very quickly.

Transportation Index Chart

This Transportation Index chart highlights a potential downside price reversion of -11% to -12% – targeting the 9,750 level.  We’ve recently authored an article about the weakness in the Transportation Index and how we believe it could be setting up for a downward price move.  If a breakdown move like this happens in TRAN, it would suggest a massive contraction in the global economy is taking place.

DOW JONES (YM) Daily Chart

This last YM chart highlights support near 28,000 which would be an immediate downside target if the Dow Jones Industrials revert lower.  And, again, this would put us back to December 2019 price levels.  If this 28,000 level is broken, then we start looking at levels closer to 26,000 (roughly -20%).

Concluding Thoughts:

Right now, consider this situation as you are a captain of a ship sailing into a storm.  You can either prepare for it and navigate through it to the best of your ability or ignore the warnings and hope for the best.  It is far too early to panic at this point, but a certain degree of “preparation” is certainly in order.

We’ll know more in about 7+ days as we learn how far and how wide this problem has actually extended.  In the meantime, watch your investments.  Protect your assets.  Prepare for the storm.  Best case, you can always reposition your capital for clearer skies in a few weeks.

As a technical analysis and trader since 1997 I have been through a few bull/bear market cycles, I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities are massive/life-changing if handled properly.

Join my Wealth Building Newsletter if you want winning ETF swing trade alerts every month? Then ride my coattails as I make money while others will struggle and lose money as the markets correct and become more volatile.

Chris Vermeulen
TheTechnicalTraders.com

NOTICE: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research.  It is provided for educational purposes only.  Our research team produces these research articles to share information with our followers/readers in an effort to try to keep you well informed.  Visit our web site (www.thetechnicaltraders.com) to learn how to take advantage of our members-only research and trading signals.

By Orbex

Italian politics has lurched back into the spotlight this week. Ahead of regional elections due over the weekend and into next week, there are fresh concerns for the political situation in the country.

5SM Leader Resigns

Luigi Di Maio, the head of the populist 5 Star Movement announced that he is standing down as the party leader.

5SM, which became known for its anti-establishment message, exploded in popularity over recent years. The party gained the most support in the 2018 elections.

However, following two consecutive coalition governments, the success of the party has visibly waned. Di Maio stated that he feels “an era is coming to an end”.

Regional Italian Elections This Weekend

The northern region of Emilia-Romagna will go to the polls on Sunday.

The expectation is that right-wing nationalists will oust the current center-left leaders there, which have been in place for decades. Such a result would mark a significant shift in voter sentiment. It would also cast jeopardy over the future of the government which is currently a coalition between center-left and the 5SM.

Di Maio’s resignation speech, which he gave in front of Hadrian’s temple in Rome, was emotive.

Di Maio said the 5SM was a “visionary project never achieved before and with no equal anywhere in the world.” He went onto say that Italy needs “to have time to sort out the mess made by those in power for the past 30 years.”

5SM Support Dwindling in Polls

Di Maio’s resignation is likely well-timed. Recent opinion polls ahead of Sunday’s elections have been reflecting a deterioration in support for the 5SM leader.

The 5SM is currently third in the polls with La League currently running roughly even with the ruling Democratic party.

The Democrats have been in control there for the last 75 years. Removing them from power would, therefore, be a significant achievement. It would also be a key turning point for the league party led by Matteo Salvini.

Democrats Downplay Talks Of Crisis

Despite the shock announcement this week, the ruling democratic party is keen to downplay fears of political crisis.

Speaking with CNBC, the Italian economy minister Roberto Gualtieri said:

“Not at all, it is not a political crisis, it is not affecting neither the government — by the way, Mr. Di Maio will remain foreign (affairs) minister — nor the majority, which is actually quite broad in the Parliament.”

Salvini’s La League party, which has a firm anti-immigration stance, is on the verge of a historic result in the upcoming elections. There are fears that such a result would help bolster broader support for the party putting the future of Italian politics in question.

Technical Perspective

EURUSD has been under pressure this week. Price is currently testing the rising trend line of the corrective bear flag pattern.

A break here would open the way for a run down to deeper support at the 1.0996 and 1.0927 levels next. To negate this view, bulls will need to see price hold current support and make its way back above the 1.1166 level.

By Orbex

By Orbex

The latest report from the Energy Information Administration has added further downside pressure for crude prices this week.

The EIA update showed that US crude inventories fell by 400k barrels last week.

News of a drawdown is typically positive. However, on the back of last week’s 2.5 million barrel drawdown, the market had been expecting a 1 million barrel decline. Therefore, it was disappointed by the news of a weaker than expected draw.

Gasoline Inventories Increase

Other elements of the report were also more obviously bearish.

The data showed that gasoline inventories were higher by 1.75 million barrels over the week. This increase was above the expected 1 million barrel level.

However, distillate stockpiles were far lower than expected. These dropped by 1.2 million barrels over the week versus an expected build of 3 million barrels.

Crude prices have been weighed down due to the outbreak of the Wuhan virus in China. This has already claimed the lives of nearly 20 people while infecting a further several hundred.

The virus has already spread across Asia, with one confirmed case in America and further possible cases identified as far as Scotland.

Wuhan Virus Causing Concern

A wave of reduced risk appetite has hit the markets. Traders are fearing a SARS-like outbreak which could cause widespread economic damage and reduced fuel demand.

The SARS outbreak in 2003 caused a sharp drop in fuel demand. It also sparked a recession in Hong Kong and a sharp economic hit to China.

If the outbreak continues to intensify, there are fears that the local economy, already in the throes of a downturn, will suffer significantly.

EIA Forecasts Lower Prices

In its January short-term energy outlook, the EIA forecast crude prices to fall over 2020.

The driver behind this projection is the passing of geopolitical risks such as the tension between the US and Iran.

However, there are several factors providing upward pressure. These include the progress being made towards ending the US/China trade war, the greater clarity around Brexit and the increase in OPEC production cuts announced in December.

Technical Perspective

Frustratingly for crude traders, if we look at the higher timeframe you can see that not much has changed.

Price is essentially trading where it was a year ago. Despite having broken above 64, the reversal has brought price right back down into the middle of the range which framed much of last year’s price action.

Crude is currently challenging the rising trend line from last year’s lows. If we break here, the next level to watch will be the 57 mark, with the 2018 lows below that as the main downside marker.

By Orbex

By Orbex

The short answer is, yes. The Chinese Lunar New Year routinely has an effect on the price of gold.

But just as important is why, and what that means for people who are interested in trading the precious metal.

So how much of an effect is it? And can we expect the effect to keep happening?

China’s Gold Obsession

It’s not surprising that the most populous country in the world would be a large consumer of any given product.

But gold is a special case in China, even more than the second-largest importer of gold, India. There are traditional, historic and simple practical reasons for this.

Let’s get an idea of scale. China produces over a third of the world’s gold, but even so is still the largest importer.

This isn’t just the government and financial institutions building reserves, but Chinese citizens are the largest holders of gold on a per capita basis.

It’s More than a Tradition

There is a long tradition of saving in China, but at the same time significant distrust of official currency.

Seeking safe places to store value has given rise to the demand for foreign investments, and fueled the housing market. But the most practical way to store value is to buy gold. And Chinese people who can afford to will put a sizable portion of their savings into jewelry or simple bullion.

The first recorded instance of paper money is from China, which also implies the longest history of worrying about the value of fiat currencies.

With tight government control over currency, which is subject to political control, gold also offers an alternative for freer exchange.

The Special Date

The Lunar New Year is a week-long holiday period in which the Chinese will meet with relatives, and exchange gifts. By far the most popular gift is some form of gold.

In anticipation of this demand, gold prices in the entire world can start rising in the months leading up to the Lunar New Year, as Chinese firms build inventory.

As China has increased in wealth thanks to its booming economy, millions of Chinese are now able to afford gold, and the consequent demand for what is, in the end, a finite resource, has skyrocketed.

The Future

With the Chinese economy continuing to grow and the reasons to want gold not likely to go away, it’s likely that the Lunar New Year will continue to be a significant factor in the price of gold going forward, possibly increasing the effect on the market.

China’s notorious lack of transparency makes it hard to know exactly how much gold is held by Chinese citizens.

Another event that overlaps with the demand for gold from China is the start of the wedding season in India. Indian weddings are characterized by gold being used as a sign of wealth.

The building of inventory for these events also starts along with the Lunar New Year, with both combining to make the start of the year a good time to have gold in your portfolio.

By Orbex

By Orbex

USD Breaks Resistance

The US dollar has been firmer over the last 24 hours with the USD index breaking above the 97.42 level yesterday. For now, momentum has stalled and price is sitting just above this level. The absence of any key US data this week means that moves have been light. However, USD sentiment is generally positive and further upside looks likely.

Euro Lower Following ECB

EURUSD has been firmly lower today. The ECB launched its strategy review at yesterday’s policy meeting though warned markets that while the review is underway, its monetary policy approach will not be on auto-pilot. EURUSD has broken through the 1.1072 level now and is trading 1.1049 last.

GBP Down Despite Better Data

GBPUSD reversed sharply from initial highs on the session above the 1.3150 level to trade 1.3119 last. The UK manufacturing PMI released today was seen rising to a nine-month high, though still below the 50-level at 49.8, the reaction in GBP has been firmly bearish.

Risk Assets Recovering

Risk assets have had a tricky week. The outbreak of the Wuhan virus in China weighed on equities initially though late in the week we saw a shift in sentiment with the SPX500 rallying off the week’s lows to trade back up towards recent highs.

JPY & Gold Lower

Safe havens have been lower today with both the Japanese yen and gold trading lower against the USD in light of the rally in both USD and equities. XAUUSD trades 1559.69 last, sitting atop the 1554.69 level into the end of the week. USDJPY is trading back beneath the 109.71 level today at 109.68 last.

EIA Reports Inventories Drawdown

Oil prices have been lower again today, ending the week firmly in the red. While crude saw some mild recovery yesterday on news of an EIA inventories drawdown, the move has been shallow compared to the declines suffered over the week on fears that the Wuhan virus will negatively impact crude demand. Crude trades 55.64 last.

BOC Sends Dovish Signals

USDCAD has been lower today. Despite the weakness in crude and the strength in USD over the week, the loonie has fallen back below the 1.3145 level to trade 1.3125 on Friday. At the BOC meeting this week the bank struck a more dovish tone, citing weakness in the domestic and global economy and the potential need for easing in the near future.

Aussies Rallies On Risk Recovery

AUDUSD has been a little higher today, benefitting from the recovery in risk appetite. Aussie employment data this week was better than expected with the unemployment rate falling to 5.1%. However, the market is still anticipating an RBA rate cut in response to bushfires which have been raging over the last month. AUDUSD trades .6853 last, sitting back above the .6850 level for now.

By Orbex

By Orbex

Equity markets were seen trading rather flat for the third consecutive day. The rally looks to be pausing for the moment as the earnings season gets underway.

The declines were attributed to mostly weaker banking stocks leading the way. On the economic front, data from the US was rather quiet.

Euro Falls on Dovish ECB Comments

The European Central Bank held its monetary policy meeting on Thursday. The central bank left interest rates unchanged as widely expected. The central bank also announced that it would begin a strategic review of its monetary policy.

At the press conference, ECB Chief Lagarde cited that downside risks for the euro still remain. This saw the markets reacting negatively to the comments.

EURUSD Breaks Out to the Downside

The euro broke past its sideways range to the downside. Losing over 0.4% on the intraday basis, EURUSD is now likely to continue to drift lower. The next major support area is at the 1.1000 region, which offers psychological support.

In the near term, the currency pair might retrace losses and retest the 1.1072 level to establish resistance.

Sterling Falls as Brexit Becomes Official

The pound sterling reacted negatively to the news after UK lawmakers officially passed legislation to make the Brexit deal official.

It is now pending with the European Union officials, who have until next week to pave the way for the UK’s exit from the EU. Following the agreement in the parliament, the legislation received the royal assent.

GBPUSD Declines to be Limited for Now

The current declines in the GBPUSD coincide after the currency pair broke past the 1.3100 level. The retracement will see the GBP testing the level of 1.3100 where support could now be forming.

As long as this level holds, GBPUSD remains biased to the upside with 1.3226 being the next target.

Gold Prices Continue to Consolidate

The precious metal continues to remain trading flat, albeit close to the seven-year highs. The dovish ECB message saw some bounce in the precious metal, which faded over the intraday session.

Gold prices were also muted to the weekly jobless claims report. With the Fed meeting due next, we expect this flat trading to continue.

XAUUSD Testing the Resistance

The precious metal pared losses and is once again back near the resistance area of 1562. The ascending triangle pattern remains in play. An upside breakout will potentially trigger further gains.

However, this will put gold prices to test the previous highs. Failure to breakout higher could result in either price consolidating or perhaps correcting lower.

By Orbex

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the descending wave, EURUSD has completed the ascending impulse at 1.1058; right now, it correcting towards 1.1047. Possibly, today the pair may consolidate between these two levels. Later, the market may break the range to the upside and start a new growth with the short-term target at 1.1090.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed two descending impulses; right now, it is correcting towards 1.3129. After that, the instrument may form a new descending structure to reach 1.3093 and then resume trading upwards with the target at 1.3123.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the correction towards 0.9686; right now. it is growing with the target at 0.9704. Possibly, the pair may reach it and then form a new descending structure to return to 0.9686. After that, the instrument may consolidate around 0.9690.

USDJPY, “US Dollar vs Japanese Yen”

After forming a continuation pattern around 109.57 and breaking it to the downside, USDJPY is forming the second descending impulse. Possibly, the pair may fall with the short-term target at 109.08. Later, the market may start another correction to return to 109.57 and test it from below.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.6853. Possibly, the pair may continue moving downwards with the short-term target at 0.6811.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 61.90 without any particular direction. According to the main scenario, the price is expected to continue the correction towards 63.00. Possibly, today the pair may grow to reach 62.15 and then form a new descending structure with the target at 61.91.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading downwards. Possibly, the pair may break 1.3126 and then continue falling towards 1.3099. After that, the instrument may start a new growth to return to 1.3126.

XAUUSD, “Gold vs US Dollar”

Gold has reached the target of Flag correctional pattern at 1567.55; right now, it is falling with the short-term target at 1555.45. Later, the market may resume trading upwards to reach 1559.50.

BRENT

Brent has finished the ascending impulse towards 62.26. Today, the pair may correct towards 61.67 and then form one more ascending structure with the short-term target at 63.18.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is forming the second descending impulse with the target at 8060.00. The main scenario implies that the pair may reach this level and then start a new correction towards 8400.00. After that, the instrument may resume trading downwards to reach 7750.00.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the divergence made BTCUSD complete the correctional uptrend close to 38.2% fibo at 9262.00. At the moment, the pair is forming a pullback towards 23.6% fibo. After finishing the pullback, the instrument is expected to start a new rising impulse towards 50.0% fibo at 10142.00.

The H1 chart shows more detailed structure of the current descending correction. The pair is trading towards 38.2% fibo at 8133.60 and may later reach 50.0% fibo at 7808.00. At the same time, there is a convergence on MACD. The resistance is the local high at 9183.20.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, the correctional uptrend has reached 23.6% fibo. Possibly, ETHUSD may start a short-term pullback and then form a new rising wave towards 38.2% and 50.0% at 210.75 and 239.65 respectively. the support is the low at 116.06.

The H4 chart shows more detailed structure of the current descending correction. The pair is moving very close to 38.2% fibo at 154.90 and may continue falling towards 50.0% fibo at 147.50. The resistance is the high at 178.99.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.