InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.09202
• Open: 1.09406
• % chg. over the last day: +0.16
• Day’s range: 1.09302 – 1.09462
• 52 wk range: 1.0905 – 1.1652

The US dollar continues to hold positions relative to a basket of world currencies. Global political uncertainty and concerns over the expansion of the trade war between Washington and Beijing remain in the spotlight for investors. Currently, EUR/USD quotes are consolidating. In the near future, a technical correction of the EUR/USD currency pair is not ruled out. The key trading range is 1.09100-1.09450. We recommend opening positions from these marks.

At 10:55 (GMT+3:00) expect a labor report from Germany.

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is located near the 0 .

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a possible correction of EUR/USD quotes.

Trading recommendations

• Support levels: 1.09100, 1.08700
• Resistance levels: 1.09450, 1.09650, 1.09900

If the price consolidates below 1.09100, expect the quotes to fall toward 1.08800-1.08600.

Alternatively, EUR/USD could rise toward 1.09700-1.09900.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.23188
• Open: 1.22865
• % chg. over the last day: -0.28
• Day’s range: 1.22758 – 1.22995
• 52 wk range: 1.1995 – 1.3385

The GBP/USD currency pair continues to consolidate after a sharp decline last week. The technical picture is ambiguous. The pound is still under pressure due to the possible consequences of the hard Brexit. At the moment, the local support and resistance levels are: 1.22750 and 1.23250, respectively. We are expecting important statistics from the UK. We recommend opening positions from key levels.

At 11:30 (GMT+3:00), UK will publish a GDP report.

Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates bullish sentiment.

Trading recommendations

• Support levels: 1.22750, 1.22400
• Resistance levels: 1.23250, 1.23750, 1.24150

If the price consolidates below 1.22750, expect a further fall toward 1.22400-1.22200.

Alternatively, the quotes could grow toward 1.23700-1.23900.

Registration

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.32649
• Open: 1.32362
• % chg. over the last day: -0.17
• Day’s range: 1.32302 – 1.32470
• 52 wk range: 1.2727 – 1.3664

CAD is still in lateral movement. There is no defined trend. At the moment, the following local support and resistance levels can be distinguished: 1.32300 and 1.32550, respectively. The USD/CAD currency pair has a downside potential. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from key levels.

The Economic News Feed for 30.09.2019 is calm.

Indicators do not give accurate signals.

The MACD histogram is in the negative zone and below the signal line, which indicates the development of a bearish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also gives a signal to sell USD/CAD.

Trading recommendations

• Support levels: 1.32300, 1.32100, 1.31800
• Resistance levels: 1.32550, 1.32800, 1.33000

If the price consolidates below 1.32300, expect the quotes to fall toward 1.32000-1.31800.

Alternatively, the quotes could grow toward 1.32700-1.32900.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 107.827
• Open: 107.965
• % chg. over the last day: +0.10
• Day’s range: 107.752 – 108.012
• 52 wk range: 104.97 – 114.56

The technical picture on the USD/JPY currency pair is still ambiguous. The trading instrument is in lateral movement. Demand for safe haven currencies remains at a fairly high level. At the moment, the local support and resistance levels are: 107.650 and 108.000, respectively. Investors expect additional drivers. We recommend that you pay attention to the dynamics of yield on US government bonds. Positions must be opened from key levels.

Mixed economic releases from Japan were published during the Asian trading session.

Indicators do not give accurate signals: the price crossed 50 MA.

The MACD histogram is near 0.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which indicates a bearish sentiment.

Trading recommendations

• Support levels: 107.650, 107.350, 107.000
• Resistance levels: 108.000, 108.250, 108.450

If the price consolidates below 107.650, expect the quotes to fall toward 107.350-107.200.

Alternatively, the quotes could grow toward 108.300-108.450.

by JustForex

by JustForex

The greenback continues to hold positions against currency majors. The dollar index (#DX) approached annual highs. Global political uncertainty and the trade conflict between Washington and Beijing are still in the focus of attention. The British pound is under pressure due to the possible consequences of the “hard” Brexit. The Bank of England representative, Michael Saunders, who is committed to tightening monetary policy, said that continuous uncertainty in the country’s economy would lead to the interest rate decline.

The New Zealand dollar continued to lose ground against the US currency amid weak data on business confidence in New Zealand. Germany published rather optimistic statistics on the labor market for September. The Office for National Statistics reported that the country’s GDP growth counted to 1.3% (YoY) in the second quarter compared to market expectations of 1.2%. The unemployment rate in the Eurozone fell from 7.5% to 7.4%.

Oil quotes continue to show negative dynamics. At the moment, futures for the WTI crude oil are testing the $55.25 mark per barrel.

Market Indicators

On Friday, there was the bearish sentiment in the US stock markets: #SPY (-0.54%), #DIA (-0.33%), #QQQ (-1.24%).

The 10-year US government bonds yield has moved away from local highs. At the moment, the indicator is at the level of 1.69-1.70%.

• At 16:45 (GMT+3:00) we expect Chicago PMI.

by JustForex

By Admiral Markets

Source: Economic Events September 30, 2019 – Admiral Markets’ Forex Calendar

As we start the week, we want to take a look at the premiere German equity index, DAX30 CFD. But despite a packed economic calendar, no relevant data is published for equities.

That’s why we want to focus primarily on the technical side in the DAX30 CFD today. After the last week of trading resulted in a sustainable drop below 12,300 points, the long sequence on H1 can be considered broken.

Nevertheless, the DAX30 CFD saw a drift back, and a weekly close clearly above 12,300 points. With the upcoming German bank holiday on Thursday, October 3 (for an update of the trading hours in Cash and Futures Index CFDs, check our News section on the website HERE), it seems likely that the German index continues with its drift higher and we get to see a test of the current September highs around 12,500 points.

This is especially true as long as no new tensions in the trade dispute between the US and China arise.

Another short pullback against 12,300 should be carefully watched since this region could act as an attractive Long trigger.

Only a drop below the pre-weekly lows around 12,140/150 points would significantly darken the picture and switch our focus on the psychological relevant region around 12,000 points:

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between September 9, 2019, to September 27, 2019). Accessed: September 27, 2019, at 10:00pm GMT

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between June 21, 2018, to September 27, 2019). Accessed: September 27, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of the DAX30 CFD increased by 2.65%, in 2015, it increased by 9.56%, in 2016, it increased by 6.87%, in 2017, it increased by 12.51%, in 2018, it fell by 18.26%, meaning that after five years, it was up by 10.5%.

Discover the world’s #1 multi-asset platform

Admiral Markets offers professional traders the ability to trade with a custom, upgraded version of MetaTrader 5, allowing you to experience trading at a significantly higher, more rewarding level. Experience benefits such as the addition of the Market Heat Map, so you can compare various currency pairs to see which ones might be lucrative investments, access real-time trading data, and so much more. Click the banner below to start your FREE download of MT5 Supreme Edition!

Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations.
4. To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
5. Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
6. The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
7. Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
8. The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.
9. Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.

By Admiral Markets

By Alpari.com

By Alpari.com

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After reaching the downside target at 1.0920 and completing the correction towards 1.0966, EURUSD started another decline with the target at 1.0868 and has already broken 1.0922 to expand the range downwards. After that, the instrument may test 1.0922 from below and then resume trading inside the downtrend with the target at 1.0882.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.2333. Possibly, today the pair may start a new decline towards 1.2283 and then resume trading upwards to return to 1.2333.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the correction at 0.9910, USDCHF is forming one more ascending structure with the target at 0.9955. Later, the market may start a new decline towards 0.9920.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached another upside target at 107.90; right now, it is moving downwards. Possibly, the pair may form a new descending structure towards 107.44 and then resume trading upwards with the target at 108.21.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still falling. Today, the pair may form a new descending structure towards 0.6735 and then start another correction with the target at 0.6817.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues consolidating above 64.00. Possibly, the pair may fall to reach 63.90 and then start another growth towards 64.55 to complete the correction. Later, the market may resume trading inside the downtrend with the target at 63.30.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is consolidating above 1.3260. According to the main scenario, the instrument may fall to reach 1.3220 and then resume trading upwards with the target at 1.3300.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating 1504.44. The main scenario implies that the pair may form a new descending wave to reach 1496.55. After that, the instrument may start a new growth with the target at 1511.60.

BRENT

Brent is consolidating above 61.43. Possibly, the pair expand the range towards 60.70 and then form one more ascending structure to beak 63.36. Later, the market may continue trading upwards with the first target at 65.55.

BTCUSD, “Bitcoin vs US Dollar”

After breaking 8068.00, BTCUSD continues falling and forming a continuation pattern. Today, the pair may reach 7515.00 and then start a new growth to return to 8068.00. Later, the market may continue trading inside the downtrend with the target at 7373.00.

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 daily chart, the pair is no longer trading inside the correctional Triangle; it has broken 50.0% fibo and right now is moving towards 61.8% and 76.0% fibo at 7350.00 and 5860.00 respectively. If the price breaks the current resistance level (38.2% fibo at 9840.00), BTCUSD will continue growing to reach the high at 13857.20.

In the H4 chart, the pair is moving to the downside to reach 61.8% fibo at 7350.00. However, after that, the price is expected to start a new pullback towards 50.0% fibo.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, the convergence made the pair complete the correctional uptrend at 38.2% fibo and start a new descending impulse. By now, the price has already updated the previous low and is currently moving towards the post-correctional extension area between 138.2% and 161.8% fibo at 140.40 and 125.85 respectively.

The H1 chart shows more detailed structure of the current decline and the correction. By now, the pair has already reached 23.6% fibo. Later, the price may continue growing towards 38.2% and 50.0% fibo at 179.80 and 188.40 respectively. The support is the low at 152.28.

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.

By George Prior

Boris Johnson’s reported secret plans to circumnavigate parliament and deliver Brexit means you should now consider hard Brexit-proofing your finances, warns the CEO of the world’s largest independent financial advisory organization.

The warning from deVere Group’s founder and chief executive, Nigel Green, comes as it is reported by City AM on Friday that the UK government believes it can get Brexit over the line on October 31 as the Article 50 deadline – European legislation – overrides any British attempt to stop it – in the form of the UK parliament’s Benn Act.

In addition, Sir John Major, the former Prime Minister, has warned that Boris Johnson could use ‘political chicanery’ to try to force No Deal Brexit at the end of October.

He said he worried the privy council’s powers could be abused to suspend the law designed to stop the UK crashing out.

Mr Green notes: “Under the Benn Act, Boris Johnson must ask the EU for an extension to Article 50 if no Brexit deal wins a pass through parliament by 19 October.

“The PM has said he would comply with this requirement – while at the same time saying the UK will definitely leave the EU on October 31.

“This sounds contradictory.  And maybe the reason he is saying this is his reported secret plan to use EU law to override British law and stick to the EU-imposed deadline of Halloween to deliver Brexit.”

He continues: “Mr Johnson seems determined to get Brexit done come what may – including allegedly lying to the Queen and unlawfully suspending parliament.

“So it will come as no surprise to many that he would also ride roughshod over British processes and somewhat ironically invoke European ones – to get it over the line.

“This raises the spectre considerably of a hard Brexit.”

He goes on to say: “With the pound likely to be further pummelled by crashing out, with UK financial assets – perhaps with the exception of real estate – taking a hit, and with the impact on international exports and global implications for international trade, it’s imperative that investors revise their portfolios.

“They need to ensure that they are properly diversified to mitigate the risks and are best-positioned to seize the important buying opportunities to grow their wealth.”

Mr Green concludes: “It can be expected that a growing number of UK and global investors will move their assets overseas as Britain stumbles towards a hard Brexit.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.09426
• Open: 1.09202
• % chg. over the last day: -0.19
• Day’s range: 1.09046 – 1.09256
• 52 wk range: 1.0905 – 1.1652

The EUR/USD currency pair continues to show a negative trend. The trading instrument reached annual lows. Yesterday, the USD was supported by positive economic releases. Deputy Chairman of the Fed Richard Clarida said that the current economic situation in the United States is close to the goal of the Central Bank. At the moment, the EUR/USD quotes are testing local support and resistance levels of 1.09100 and 1.09400, respectively. We recommend that you keep track of up-to-date information regarding trade negotiations between Washington and Beijing. Positions must be opened from key levels.

The Economic News Feed for 27.09.2019:

• – Orders on Durable Goods (US) – 15:30 (GMT+3:00);
• – Personal Expenses (US) – 15:30 (GMT+3:00);

Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

The Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.09100, 1.08700
• Resistance levels: 1.09400, 1.09650, 1.09900

If the price consolidates below 1.09100, expect a further drop toward 1.08800-1.08600.

Alternatively, the quotes could recover toward 1.09600-1.09800.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.23455
• Open: 1.23188
• % chg. over the last day: -0.18
• Day’s range: 1.23148 – 1.23363
• 52 wk range: 1.1995 – 1.3385

The GBP/USD currency pair has stabilized after a significant drop since the beginning of this week. Quotes are currently being consolidated. There is no defined trend. The key support and resistance levels are 1.23100 and 1.23650, respectively. The trading instrument has the potential to further decline. Today, investors will evaluate important economic reports from the United States. We also recommend keeping track of up-to-date information regarding the Brexit process. Positions must be opened from key levels.

The Economic News Feed for 27.09.2019 is calm.

• – Economic Event (GB) – 00:00 (GMT+3:00);
• – Economic Event (GB) – 00:00 (GMT+3:00);
• – Economic Event (GB) – 00:00 (GMT+3:00);

Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.23100, 1.22600
• Resistance levels: 1.23650, 1.24150, 1.24550

If the price consolidates below 1.23100, expect further drop toward 1.22700-1.22600.

Alternatively, the quotes could grow toward 1.24000.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.32657
• Open: 1.32649
• % chg. over the last day: -0.01
• Day’s range: 1.32638 – 1.32784
• 52 wk range: 1.2727 – 1.3664

The technical picture on the USD/CAD currency pair is still ambiguous. Looney is trading in a long flat. At the moment, the local support and resistance levels are 1.32550 and 1.32800, respectively. USD/CAD quotes have the potential to decline. Today, financial market participants will evaluate important economic releases from the United States. We also recommend that you pay attention to the dynamics of prices of “black gold”. Positions must be opened from key levels.

The Economic News Feed for 27.09.2019 is calm.

Indicators do not give accurate signals: 50 MA crossed 100 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.32550, 1.32350, 1.32100
• Resistance levels: 1.32800, 1.33000

If the price consolidates below 1.32550, expect the quotes to fall toward 1.32350-1.32100.

Alternatively, the quotes can grow toward 1.33000-1.33100.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 107.738
• Open: 107.827
• % chg. over the last day: +0.05
• Day’s range: 107.655 – 107.849
• 52 wk range: 104.97 – 114.56

An ambiguous technical picture has developed on the USD/JPY currency pair. The trading instrument is in lateral movement. There is no defined trend. At the moment, the local support and resistance levels are 107.600 and 107.900, respectively. We are expecting important statistics from the USA. We also recommend monitoring the progress of trade negotiations between Washington and Beijing. Positions must be opened from key levels.

The Economic News Feed for 27.09.2019 is calm.

Indicators do not give accurate signals: the price is consolidating near 50 MA and 100 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a bullish sentiment.

Trading recommendations

• Support levels: 107.600, 107.350, 107.000
• Resistance levels: 107.900, 108.150, 108.350

If the price consolidates above 107.900, look for the entry points on the market since the price will rise toward 108.200-108.400.

Alternatively, the quotes could drop toward 107.350-107.100.

by JustForex

by JustForex

The US dollar strengthened against a basket of major currencies. The dollar index (#DX) closed yesterday’s trading session in the positive zone (+0.11%). Investors have not particularly responded to the news about the possible US President D. Trump impeachment, as they believe that he can avoid the procedure. Financial market participants paid more attention to news about the progress in trade negotiations between the US and China.

Mixed economic data from the US was published yesterday. Thus, GDP (q/q) counted to 2.0% in the second quarter, as experts expected. Initial jobless claims increased by 213K, while experts expected 212K. At the same time, the pending home sales index grew by 1.6% instead of the forecasted growth by 0.9%.

The Euro continues to decline against the US currency, despite the optimistic data published this week. The comments by ECB chief economist, Lane, also did not cheer up investors. He said that the stimulus package announced this month was not sufficient and the regulator would not be able to reach the limits of the quantitative easing program for a long period of time.

The “black gold” prices are consolidating. Currently, futures for the WTI crude oil are testing the $56.75 mark per barrel.

Market Indicators

Yesterday, the bearish sentiment was observed in the US stock markets: #SPY (-0.21%), #DIA (-0.26%), #QQQ (-0.37%).

The 10-year US government bonds yield is at 1.70-1.71%.

• – Core durable goods orders in the US at 15:30 (GMT+3:00).

by JustForex

By Admiral Markets

Source: Economic Events September 27, 2019 – Admiral Markets’ Forex Calendar

As we enter the weekly close, we want to have a look at the USD/JPY again. But, while we face some interesting economic releases, it probably makes more sense to look also at the upcoming week of trading and the compelling economic events planned.

After the USD/JPY failed to break above 108.50/109.00, an attack which seemed to be driven by the speculation that the BoJ is considering cutting rates into a deeper negative territory at the September meeting was disappointed by BoJ Governor Kuroda. So over the last few days, we saw a correction of the move down to 106.80/107.00 again.

This move was certainly also supported by recent political uncertainties resulting out of the Democrats in the U.S. House of Representatives launching a formal impeachment inquiry into US president Trump.

That said, today, USD/JPY traders will closely monitor any developments around these uncertainties from the US political front, in addition to monitoring the trade dispute between the US and China.

If no news around these topics hit the wire, the USD/JPY should be expected to close the trading week above 106.80/107.00, even if today’s US economic releases disappoint.

Still, we remain cautious in regards to USD/JPY long-engagements as long as we trade below 108.50/109.00 since below the advantage in USD/JPY stays on the short-side:

Source: Admiral Markets MT5 with MT5-SE Add-on USD/JPY Daily chart (between August 10, 2018, to September 26, 2019). Accessed: September 26, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of the USD/JPY increased by 13.7%, in 2015, it increased by 0.5%, in 2016, it fell by 2.8%, in 2017, it fell by 3.6%, in 2018, it fell by 2.7%, meaning that after five years, it was up by 4.1%.

Discover the world’s #1 multi-asset platform

Admiral Markets offers professional traders the ability to trade with a custom, upgraded version of MetaTrader 5, allowing you to experience trading at a significantly higher, more rewarding level. Experience benefits such as the addition of the Market Heat Map, so you can compare various currency pairs to see which ones might be lucrative investments, access real-time trading data, and so much more. Click the banner below to start your FREE download of MT5 Supreme Edition!

Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations.
4. To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
5. Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
6. The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
7. Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
8. The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.
9. Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.

By Admiral Markets