4 PRECEDENT HELP YOU CHOOSE THE TRUSTED FOREX BROKER

The brokers grow “like mushrooms after the rain”, making investors wonder which broker to choose to both ensure their safety and provide the best services.

So through this article, we will together discuss the NEED precedent to choose a reputable exchange as well as refer to some reputable exchanges on the market today.

Reputation

The first precedent that you should consider when choosing an exchange is the level of credibility and transparency of the exchange. A reputable broker will give you a sense of peace of mind when handing over your assets.

One of the factors to evaluating the reputation of an exchange is through operating certificates licensed by major financial institutions.

List of countries with respective regulatory frames:

  • USA: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
  • UK: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
  • Australia: Australian Securities and Investment Commission (ASIC)
  • Switzerland: Swiss Federal Banking Commission (SFBC)
  • Germany: Bundesanstalt für Finanzdienstleistungsaufsicht
  • France: Autorité des Marchés Financiers (AMF)
  • Canada: Investment Information Regulatory Organization of Canada (IIROC)

The above are some management agencies under major countries with high reliability. To ensure your safety before depositing into an exchange, check their quality on the trustworthy lists and make sure the brokers you choose are managed by one of the most reputable agencies.

Transaction costs

Transaction costs are the fee that traders have to pay for their transactions. It is the payments for the bank and the broker receive when they perform a certain role.

Transaction costs are very important for investors as they are one of the main determinants of net profitability. Regardless of the type of investment transaction there are transaction costs, including Forex.

Forex trading fees include: Spread, Commission and Swap.

So, when in doubt , choose an exchange that has a low Total Trading cost instead of Low Spread.

Low spreads but Commission and High swaps are one of the “traps” that non-transparent Forex exchanges often use. You need to have an overview and consider choosing between transaction costs and credibility of the exchange.

The market is witnessing extremely intense competition among Forex brokers in Vietnam. Finding reputable exchanges with low transaction costs is no longer a problem.

Transaction Platform

Most trading in Forex takes place through the brokers’ trading platforms. Therefore, one of the indispensable factors when evaluating a reputable broker is a good trading platform, stable and easy to use.

Check that the technical analysis tools on the chart are complete? Is the operation easy? Is the server system of the exchange often overloaded or unstable when trading? These are the most basic factors that investors need to check to assess the quality of the trading platform.

Does it usually happen? Maybe yes since requite bugs are often blamed on the system by non-transparent exchanges. However, this is often a deliberate ploy to make more profits for the broker from “matching prices more profitable for the broker”.

Care Services and Customers Support

In forex trading, not just new investors, professional investors still have to face inevitable problems of negligence. However, with reputable and professional trading brokers, when something goes wrong, you can completely contact it to handle the problem.

The customer care and support service is also a factor in evaluating the professionalism of the broker. The more professional and reputable the broker, the more professional the customer care team is.

Some brokers often delay customer troubleshooting. This is a common problem with non-reputable brokers, they are usually very agile in the process of opening trading accounts and making deposits. But extremely slow in troubleshooting.

ASX Markets – The Most Trusted Forex Brokers Ever

ASX Markets (Asia Exchange Markets) is an emerging FX /Index /Stock Broker exchange recently but has received good reviews from Vietnamese and Global Traders. Their difference lies in its extremely competitive spread across all accounts. Raw stands out with spreads from zero, but commissions up to $ 10/lot fx.

Even so, it’s still lower than many brokers of the same size. Trading with ASX Markets Broker will make your investment secure and grow up better.

As if the Credit Crunch in 2008 Was Not Enough. Here We Go Again….

Before the credit crunch, which was a sudden reduction in the general availability of loans along with a sudden tightening of the conditions required to obtain a loan from banks in Britain and North America due to what critics had written off as a willy-nilly approach to assessing affordability, it was easy to get any mortgage or loan for, well, pretty much anything.

It was a case of simply saying “yes, I can afford it” and simply dividing the amount of borrowing by three, stroking one’s chin and saying “hmm, yes, that’s my salary” and the lenders simply granted it and away you go with a free house, free furniture and a free £10,000 to spend on lifestyle trappings of choice.

All very well, except that it was not free, and the lack of affordability checks caused the inevitable – defaults on repayments, home repossessions and banks with an insurmountable level of unpaid debts.

The regulators gave a few disapproving shakes of their collective metaphorical heads, introduced a set of underwriting criteria that required proof of earnings, and removed almost all access to high loan-to-value secured loans meaning that mortgage applicants needed to pay a higher percentage of the purchase price of a property from their own money.

A few years of bruised credit ratings and sore banks ensued, and of course the size of the market for high interest, high risk lending was too much to ignore, so an entire new set of sub-prime lenders became established to do the same thing all over again, only this time with even higher interest. It is almost unbelievable that loans with over 1000% interest can be legitimately issued on today’s credit market.

History does indeed repeat itself, and today, one of the sub-prime, high risk lenders is teetering on the brink of bankruptcy.

Amigo Loans, which is the brand name of Amigo Holdings PLC, which is listed on the London Stock Exchange under the ticker symbol LON:AMGO is a company that lends to individuals with poor credit histories and offers personal loans of up to £10,000 with a guarantor.

Despite insisting on a guarantee from a third party with a good credit rating, the loans are unsecured and require no collateral, and Amigo Loans is experiencing a credit crunch of its own, which according to its executives is ‘considering all options, including insolvency.

Amigo fell into trouble last year, after rules concerning affordability checks were changed once again and hundreds of thousands of its customers were suddenly eligible for compensation and a High Court judge has refused to approve a compensation scheme for customers.

Amigo understood that it did not have the £151 million required to pay customers, so it attempted to establish a scheme which would pay those eligible for compensation 10p for every £1 that they were due.

Amigo has also postponed the release of its results for the year to March 2021, which were due around now. It is hoping to publish them before July 29, however as they say, there’s nothing like a news story to get people interested, and rather weirdly, the price of Amigo Holdings stock has rocketed this morning.

In August 2019, Amigo Holdings stock price collapsed and has been in the doldrums ever since, but since the news that the firm is considering insolvency came about, stock is up 12.61% to 8.22p per share by 9.30am this morning from 7.30p per share at 8.00am this morning.

Shares in the company slumped by 12.1%, or 1p, to 7.3p yesterday, and overall have crashed 97% over the last two years.

A city trader today commented “A sad tale for everyone involved, more so vulnerable customers who will be forced down the route of extortionate pay day lenders charging 1000-1500% APR. Amigo charged a little more than credit cards. Market capital and shareholder value has been stripped. The only option is insolvency or a modification to the SOA to factor a larger slice of the profits for a longer period.”

Amigo Loans did meet the criteria for a London Stock Exchange listing, however, and there have been no short sells this morning on its stock as a result of the news.

Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.5% of retail investor accounts lose money when spread betting or trading CFDs with ETX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.

Authorised and regulated by the Financial Conduct Authority, with Firm Reference Number 124721.

Octafx Copytrading Introduces Risk Score—a Revolutionary Feature That Helps Clients Evaluate Master Traders

The company recently introduced Risk Score—a game-changing feature that enables copiers to choose Master Traders based on the risk of their trading strategy.

OctaFX Copytrading is a top-rated service among the company’s clients. There are two great reasons for its popularity. First, you can access the service with just one tap through the OctaFX Copytrading app or the desktop version. Second, you need zero Forex expertise to start making a profit.

Wondering how it works? The clients, known as copiers, choose professional traders, known as Master Traders, to copy their trades. Whenever a Master Trader opens an order, the same order opens in a copier’s account automatically. That way, a copier can simply trust a Master Trader’s expertise and profit with minimum effort.

However, it is important to choose a Master Trader wisely and invest your funds securely. For this reason, OctaFX offers a Master Rating, where the best traders are placed at the top. Previously, they were evaluated only by their profitability and popularity. Now OctaFX took it to the next level.

OctaFX Copytrading introduced Risk Score—a new feature that shows how risky each Master Trader’s strategy is. The score is calculated by a special algorithm and depends on a Master Trader’s average profit, number of orders, and how stable their strategy is. The introduction of Risk Score is fundamental because copiers can now choose a Master Trader based not only on their profit but also on their strategy. Master Traders who score 1 or 2 on a 6-point scale apply more stable, long-term oriented, and less risky strategies.

OctaFX hopes that with this new feature, their copy trading clients will be able to choose Master Traders who best suit their preferences.

OctaFX is a global broker that provides online trading services worldwide since 2011. It offers a state-of-the-art trading experience to over 7 million trading accounts globally. OctaFX has won more than 40 awards since its foundation, including the ‘Best ECN Broker 2020’ award from World Finance and more recently the 2021 ‘Best Forex Broker Asia’ award and the 2020 ‘Most Transparent Broker’ award from Global Banking & Finance Review and Forex Awards, respectively. The company is well-known for its social and charity activities.

Dollar Respite From Manufacturing Data

It seems the overheating economy is not easing up just yet, though many economists expect that may happen during the second half of this year.

Equity markets were generally higher but the US closed mixed with value stocks such as financials and industrials back as the leaders while tech and healthcare fell. Asian stocks, aside from Japan touched a three-month peak before profit-taking in recently strong Chinese markets pulled it lower. Momentum has clearly ebbed from stock markets as investors worry that a stronger-than-expected rebound means sooner-than-expected monetary policy tightening.

The spotlight has been shining once again on gains in retail-investor driven “meme stocks”. AMC Entertainment rose more than 20% and is up more than 1,400% for the year while the infamous Gamestop surged over 12%. Short sellers are suffering as the Reddit crowd redirect their focus on these heavily shorted companies and move away from cryptocurrencies.

Booming commodities help European markets

Base metals are on the march again as copper closes above $10,000 for a third straight day and iron ore futures rebound. The OPEC+ meeting also passed with a lower-than-expected supply increase and the market has less concern over future Iranian supply as demand gathers pace through the summer months. Oil has pushed to recent highs with commodities in general seen as a good hedge against inflation.

Big commodity companies are enjoying this resurgence in commodity prices, with European stock market posting new record highs. The eurozone’s factory activity also helped yeseterday, rising to 63.1 in May, the highest since the survey began in June 1997.

Virus and reopening key for GBP

GBP/USD climbed to its highest level since April 2018 yesterday morning following a broadly weaker dollar tone and comments from the Bank of England’s deputy Governor acknowledging the potential for more sustained inflation and increasing optimism about the economic recovery. But dollar buying and increasing concern that the grand reopening in the UK slated for June 21 could be delayed due to the Indian Covid variant saw GBP sink back below 1.4150.

PM Johnson is due to give a press briefing later today so the threatened sterling breakout is on ice. Support rests at the bottom of the recent range around 1.41 while the bulls await a sustained push above 1.42 to continue the 15-month bullish trend.

Written by Han Tan, Market Analyst at FXTM

For more information, please visit: FXTM


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Sheer Markets Among First to Launch Long-awaited Retail Ndf Trading

Established in 2020 with a mission to introduce a new range of products in retail FX, Sheer Markets is among the first financial institutions to launch live streaming of NDFs, which until now, have been largely unavailable to online traders and investors through the MetaTrader 4 and MetaTrader 5 trading platforms.

With a 300% increase in institutional volume over the past 12 years, NDFs give retail traders and corporates the opportunity to enter an untapped market with new investment potential, allowing them to trade currencies like the Brazilian Real, Indian Rupee and Korean Won.

In addition to live streaming NDFs, EMFX and FX, Sheer Markets will be offering CFD trading in cryptocurrencies, equities, indices and commodities.

Sheer Markets Co-Founder and Chairman Alex Ladouceur commented: “It is with great excitement that we take our first step in introducing the online trading community to NDFs, as this is a product with unprecedented investment potential which has long remained undeveloped and conceals unprecedented investment potential. As the economies of EMFX and NDFs develop further, demand for these types of products from existing and new FX users is set to will widen and accelerate, accompanied by an expansion in liquidity and increased turnover. Whereas so far there has been no viable streaming NDF service through many of the regular online trading platforms, now Sheer Markets will now be there to fill that gap and meet that need.”

This newly established financial institution also intends on extending its product offering not just to retail, but also to corporate clients, with a unique opportunity for institutions. This means that while retail traders can invest and trade directly with Sheer Markets, institutional clients can benefit from Sheer Markets’ CFD and NDF liquidity provision.

For more information and to be among the first to gain access to the NDF market, click here.


About Sheer Markets

Sheer Markets was established in 2019 with a mission to offer a new range of products which are currently unavailable to the retail online trading community. Sheer Markets was licensed by CySEC in 2020. For more information, please visit https://www.sheermarkets.com

Evolution of Fintech and Football in Latin America

Although belonging to completely different industries, both PayRetailers and CONMEBOL Sudamericana are connected in many ways. They are both leaders in their respective fields and aim to connect the diverse people of Latin America.

The Rise of the Confederación Sudamericana de Fútbol or CONMEBOL

The people of South America love their football and a big part of their social interactions revolves around the sport. CONMEBOL is one of FIFA’s 6 continental confederations and is one of the oldest sports institutions in the world, founded in 1916. It organizes and manages South American football tournaments.

CONMEBOL Sudamericana, also known as La Sudamericana or Copa Sudamericana, is one of the most followed football tournaments in the region, besides CONMEBOL Liberatadores. The tournament began in 2002, replacing both Copa Merconorte and Copa Mercosur.

While there have been slight changes in the model over the years, CONMEBOL Sudamericana has a new format as of this year with 157 matches within a season, starting with the Regional Playoffs, continuing with the Group Stage and lastly the Final Phase.

It is a dream for a club team to be able to compete in an event held by one of the most prestigious sports institutions worldwide. In 2019, CSD Independiente del Valle defeated Colón to secure their first CONMEBOL Sudamericana title. Founded in 1958, the club played only minor leagues until 2010. From then on, it was counted as one the best South American soccer teams, always finishing among the top but never winning, until 2019. Touted as underdogs, the team emerged victorious in 2019. Theirs is an inspirational story of grit and perseverance.

Growing viewership both on home grounds and abroad speaks volumes of the tournament’s popularity, especially on digital platforms. Technological developments in sports recording, data capturing, and digital media have taken the tournament global, bringing it to life on Pay TV and OTT platforms. In 2020, 43 million viewers witnessed the tournament, of which 20% of the audience comprised international viewers, who viewed the matches on online platforms. Supported by a huge digital presence, the tournament is set to grow in Brazil and other countries in the future.

PayRetailers’ Success in a Difficult Payments Landscape

In terms of meteoric growth, the story of the CONMEBOL is similar to that of PayRetailers. Launched in 2017 in Barcelona, the company entered the Brazilian market in 2018. This was a challenging landscape, where a huge section of the population remained outside the purview of formal financial institutions. However, with grit and perseverance, almost reminiscent of CSD Independiente del Valle, the company faced the challenges to record 500% growth in 2020.

Although the fintech landscape is in its nascent stages in Latin America, it is growing rapidly due to rising demand. The total transaction value of digital payments is expected to grow at a CAGR of 14.32% between 2021 and 2025, to reach $278,157 million. PayRetailers aims to play a significant role in this growth.

The company leverages local partnerships to connect diverse regions of the continent.

Rodrigo Puig Mir, Chief Strategic Officer at PayRetailers, looks back and concludes, “From the first day, we knew that our unique business model will be successful, as it relies on local presence and partnerships. After entering the Mexican markets, we quickly expanded to Brazil and neighboring countries. Just like football, we believe in the power of team play. It is crucial for us to have a strong IT team to implement new payment methods and link new APIs to our infrastructure quickly. Not only that, different elements of the business have to work together to be able to score goals when necessary, to secure that win.”

If you are interested in expanding your business in South America, connect with payretailers.com. PayRetailers can help you manage all activities on the payment side on a local level with their technology-driven and versatile payment services suite, which supports over 250 different payment methods.

Eightcap Taps Kunal Vaghela as Head of Affiliates

“My goal is to help an ambitious company grow into new territories and scale its affiliates and introducing brokers offering. I’m sure that my job will be very easy with the attractive conditions that Eightcap offers.”

Kunal has most recently worked as Head of Commercial at Investoo Group – one of the largest financial affiliate and lead generation companies in the world. While working for the brand, he successfully drove impressive revenue growth and scaled the partner portfolio of the company.

Prior to that, Vaghela held the role of Head of Affiliates at ETX Capital – a well-known FCA-regulated brand. There, he managed to completely revamp the company’s affiliate program and turned it into one of the most successful acquisition channels the business had ever seen.

Additionally, he held a similar role as Affiliates Marketing Manager at Digital River – a company that provides global e-commerce payment and marketing services. He was able to achieve an increase in quarterly forecasted revenue of $1.3million. Over the years, he also worked with brands like Robert Dyas, lastminute.com, and 888.com.

At Eightcap, Vaghela will be tasked with making the company’s affiliate business more successful and efficient for both the brand and affiliates.

About Eightcap

Eightcap is a well-established financial trading company based in Melbourne, Australia. The broker is regulated by the Australian Securities and Investments Commissions (ASIC) and the Vanuatu Financial Services Commission (VFSC), and offers a wide range of online Forex and CFD trading solutions with a global reach. The company also has an exclusive affiliate program for anyone who would like to become one of their partners.

The broker has recently announced a strategic partnership with Capitalise.ai, a provider of trading automation, which will grant its clients the possibility to fully automate their trading strategies using plain English. They will also be able to backtest and optimize strategies with the tools Capitalise.ai provides, which would enable them to make adjustments without breaking a sweat.

https://trade.eightcap.com

Data in the Driving Seat

The dollar sold off yesterday and is moving lower again this morning as US equity futures are in the green, while Asian stocks are generally better bid.

Asian manufacturing figures out earlier today largely decelerated but remain above the key 50 threshold. The China Caixin PMI increased slightly to 52.0 in May, but firms continue to struggle with increasing raw material costs with the input costs index in China reaching the highest level since 2016.

Euro inflation rising

The eurozone CPI figures have just been released, with the May flash estimate registering a slightly better-than-expected 2% year-on-year growth for the first time since November 2018. Much of the increase is still driven by energy base effects, though core inflation came in at 0.9% year-on-year, right in line with market expectations. While the European Central Bank has oft repeated that it’s still premature to consider easing up its support measures, that stance may have to be massaged should consumer prices continue hitting or even exceeding the central bank’s medium-term target.

With next week’s ECB meeting looming, EURUSD has struggled to firm above 1.22 convincingly, with two attempts last week failing to hold. However, Friday’s price action was more constructive with lower prices being snapped up by buyers and printing a bullish hammer candlestick. The ISM manufacturing report out of the US is also released later, which is set to rise a bit from an already high level.

RBA opts not to rock the boat

Meanwhile overnight the RBA did very little and pointed to their July meeting as the next point where they reassess their quantitative easing (QE) and yield curve control (YCC) stimulus programmes. They did use slightly more positive labour market language by saying that progress in reducing unemployment has been faster than expected. On the flip side, they mentioned the ongoing uncertainty of further virus outbreaks though the hope here is that vaccinations will overcome this concern in time.

AUD/USD initially popped higher above 0.7760 but has since given back these gains.

Oil breaking higher

The US Memorial holiday traditionally starts the summer driving season stateside, which obviously has big implications for demand. But all eyes are on the OPEC+ meeting today with the possibility of hiking oil output again as the global recovery is widely expected to gather more pace in the coming months and stockpiles to be drawn down.

Any signs that the group hold output steady for now would likely provide more support to oil and oil-sensitive currencies like the CAD.

The year-to-date March high for Brent at $71.03 is firmly in view and then the spike high in April 2019 at $74.70, if bulls can hold prices up here and we get helpful news from the cartel.

Written by Han Tan, Market Analyst at FXTM

For more information, please visit: FXTM


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Key Events This Week: Us Jobs Report Offers Next Marker in Inflation Debate

At the time of writing, US futures are holding steady even as US and UK markets will be closed on Monday.

What is an index and why it matters? A chat with Nasdaq

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Wall Street’s so-called “fear gauge”, the VIX index, ended the trading week below the psychological 16 level. Another week of calm could send it to a new year-to-date low, below the 15.38 level set on 14 April.

Much could depend on how markets react to scheduled events this week:

Monday, May 31

  • US, UK markets closed
  • Japan industrial production, retail sales, consumer confidence
  • OECD economic outlook

Tuesday, June 1

  • Manufacturing PMI: China, Eurozone, UK, US
  • RBA policy decision
  • BOE Governor Andrew Bailey speech
  • Fed speak: Fed Governor Lael Brainard
  • OPEC+ meeting

Wednesday, June 2

Fed speak:

  • Philadelphia Fed President Patrick Harker
  • Chicago Fed President Charles Evans
  • Atlanta Fed President Raphael Bostic
  • Dallas Fed President Robert Kaplan

Thursday, June 3

  • Services/composite PMIs: China, Eurozone, UK, US
  • US initial jobless claims
  • Fed speak: Fed Vice Chair for Supervision Randal Quarles, Philadelphia Fed President Patrick Harker

Friday, June 4

  • Panel discussion with central bank heads: Fed Chair Jerome Powell, ECB President Christine Lagarde, PBOC Governor Yi Gang
  • Eurozone retail sales
  • US nonfarm payrolls

US jobs report key for Dollar direction (DXY)

The US nonfarm payrolls print is scheduled for the first Friday of every month. The figures due on 4 June carries greater weight, following the shockingly-low figures posted on the first Friday of May.

Markets would interpret another lower-than-expected jobs tally to mean that the Fed might be more willing to maintain its support measures until the job market is on a more solid footing. Hence, another lackluster jobs report could see the dollar index (DXY) relinquish the 90 handle once more.

However, a non-farm payrolls report that exceeds market expectations would be taken as a sign that the tightening labour market could further boost inflationary pressures.

Recall that this past Friday, the April US core PCE inflation’s 3.1% surpassed the market-expected 2.9%. That was the highest year-on-year print since 1992, albeit with the low base effects in play.

A bumper NFP this Friday could spur another selloff in US Treasuries, sending its yields surging, which in turn would offer tailwinds for the dollar.

Commodity spotlight – Oil (Brent)

OPEC+ is slated to decide on Tuesday whether to further loosen the oil taps over the coming months. At a time when markets are already bracing for more oil shipments out of Iran pending their nuclear talks with the US, more incoming global supplies would dampen oil prices further.

Over on the demand-side, watch the global PMI readings and the latest OECD economic outlook for the latest signs of a demand recovery. China’s manufacturing PMI released this morning shows that the sector is still firmly in expansionary territory in May, having posted a reading above 50 every month since February 2020.

Should markets grow confident that global demand can absorb the incoming supplies, this might help Brent oil claim a stronger hold on the $70/bbl handle.

Written on 31/05/21 06:00 GMT by Han Tan, Market Analyst at FXTM

For more information, please visit: FXTM

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

What News Caused Bitcoin to Turn From a Bull Market to a Bear Market?

The bloodbath wiped out $350 billion from the crypto market. Ether plummeted as much as 50% while Bitcoin lost 30%. Bitcoin had been trading lower after the announcement from Tesla CEO Elon Musk that Tesla would stop accepting Bitcoin as a payment method due to its high-level consumption of fossil fuels.

However, the latest blow came from China’s latest crypto crackdown, which banned financial institutions and payment companies from accepting cryptocurrency or providing relevant services.

“Prices of cryptocurrency have skyrocketed and plummeted recently, and speculative trading has bounced back. This seriously harms the safety of people’s property and disturbs normal economic and financial orders,” said the statement from official regulators.

Amid the panic sell-offs, professional traders and institutional investors remain unfazed. On May 18, MicroStrategy’s co-founder Michael Saylor announced that the company had purchased an additional 229 bitcoins for $10 million. Now the company owns 92,079 bitcoin at an average price of $24,450 per bitcoin. During the flash crash, Michael Saylor emphasized that he was not selling and that the entities he controlled owned 111,000 BTC. Wells Fargo Investment Institute also joins the crypto space, announcing that it will soon offer crypto services to its clients.

The crypto markets are extremely sensitive to any negative news, and corrections are common after bitcoin hitting new highs. In the past ten years, bitcoin had almost 300 instances when it saw a daily price change of 10% or greater. It is hard to tell whether the storm has passed. Now could be a good time to dip your toes in the bitcoin market.

The Best Strategy

In times of FUD, perhaps we could turn to Chinese wisdom. In Chinese, the word for crisis is made up of two characters. The former character bears the meaning of danger while the latter represents opportunity. While spot traders are hurt by the sell-off, traders who engaged in futures trading saw good opportunities to short bitcoin. In futures trading, traders can short or long cryptos and make money from the price differences. In addition, they can use the leverage offered by brokers to increase their exposure. In futures trading, every fluctuation is an opportunity to generate profit.

Let’s see how:

Step 1: The current price of BTC is $31,000. If you believe the price is going to drop, you can open a short position with 0.01 BTC. Now, 0.01 BTC may not seem much, but with 100x leverage, you can open a contract worth 1 BTC.

Step 2: When the price of BTC drops to $30,000, you close the position.

Profit: ($31,000-$30,000)*1 BTC/$30,000=0.033 BTC.

Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on a variety of trading pairs – BTC, ETH, LTC, EOS, XRP, etc. No spread, no KYC requirements, no deposit fee, Bexplus is trusted by clients worldwide, including the USA, Japan, Iran, and Sudan.

Aside from futures trading, Bexplus offers an interest wallet with up to 21% annualized interest. If you want to stop trading for a while and wait for the storm to pass, the Bexplus wallet will be a good way to grow your wealth.

Demo Account with 10 BTC

What better way to improve your skills than practicing in the simulator. There are 10 replenishable BTC in the demo account for traders to practice as much as they like, without taking any risks. You can also learn to analyze the market and use the toolkit with the demo account.

Top Ranking Mobile Apps to Help you Trade Smartly

Bexplus mobile app ranks in the Top 5 of keyword search results related to bitcoin trading in 56 countries in App Annie. This full-featured app provides you with the same experience when using a computer, only far more convenient. Bexplus mobile app has a 24/7 market notification to keep you updated with any huge market movement. All data and assets can be accessed through all kinds of devices including Windows, Macbook, Android phones, iPhones, and tablets.

Download apps on the Apple App Store and Google Play

100% Bonus to Help You Maximize Profit

Double deposits, double profits. Users can get a 100% deposit bonus for every deposit on Bexplus. If you deposit 1 BTC, 2 BTC will be credited to your account, and the profits gained with the bonus are withdrawable.

 

FXChoice Relaunches its $25,000 Affiliate Competition

The competition works the same way as its predecessor – FXChoice new or existing clients need to refer at least 50 new clients to the company during a 7-week period (1 June – 19 July). The top-3 clients whose referrals bring the highest collective trading volume will grab their share of the $25,000 prize pool, broken down as follows:

1st Prize – $13,000

2nd Prize – $7,000

3rd Prize – $5,000

For those who are not lucky enough to share in the spoils, participants can still pocket hefty earnings from the Affiliate Programme’s usual perks and commissions.

Participants must be FXChoice clients – if you’re not it only takes a minute to join up – and the referrals need to join up via a referral link that is unique to every client. FXChoice offers a number of ways for participants to share their referral link, including via Facebook, Twitter, WhatsApp and Telegram.

Who are FXChoice?

FXChoice is a leading, fully regulated forex broker with award-winning customer service. They offer tight spreads starting from 0 pips specialise in CFDs across a number of markets. Their Affiliate Programme provides outstanding benefits, but is not the only route to partnership with the company.

A variety of deposit options are available and include Bitcoin (among other cryptos), making FXChoice one of the best places to deposit and trade in the crypto space.

easyMarkets Lauches μBTC Account

Our new μBTC account gives our clients the ability to trade any of our 200+ instruments – directly, without the need to exchange their Bitcoin for FIAT currencies – in a quick and easy way based on the blockchain. The new account automatically creates a Bitcoin wallet address for ease of use, convenience, and efficiency, ensuring our clients can react quickly to protect themselves during volatility and seize opportunity when it presents itself.

easyMarkets μBTC account features all of the innovative tools, protections and competitive conditions its other base currency accounts offer, including:

  • Some of the tightest fixed spreads in the industry on shares, cryptocurrencies, commodities, metals, options and currencies.
  • No Slippage on easyMarkets platform & App – a powerful benefit when you are trading highly mobile instruments like cryptocurrencies.
  • Negative Balance Protection
  • Free & Guaranteed Stop Loss & Take Profit on easyMarkets Platform & App
  • Available on MT4 too, for experienced users!

On 17th May 2021 CMO Ohad Golan said about the new account:

“We are excited about offering our traders the ability to deposit, withdraw and trade with their Bitcoin funds. As Bitcoin approached the critical 1 trillion dollar market cap level, more and more people bought into the impressive rally, including our clients. With their funds in Bitcoin though they aren’t able to trade outside of an exchange until now. That is why this new type of account gives our clients even more freedom and choice when trading with easyMarkets. We are sure this will also be beneficial to our partners and affiliates by opening up new promotional and branding opportunities.

At the time of writing this release, Bitcoin has reached a market cap of $948.98B, 24hr volume of $100.62B and a staggering YTD growth of +69.58%. All other more “conventional” assets pale in comparison. And that is excactly why this new service we are offering is so exciting!”

easyMarkets μBTC account is available across all platforms easyMarkets offers; easyMarkets web and app platform and MT4.

Another benefit of depositing, withdrawing and trading with easyMarkets μBTC account, is security. easyMarkets is regulated in multiple locations across the world from Europe to Australia, including being licenced by CySEC and ASIC, ensuring that all activities are performed in a transparent way that protects clients and their assets.

Signing up for easyMarkets new μBTC account, is as simple as signing up for any other of our accounts.

  • Create an easyMarkets account.
  • During sign up select Microbitcoin as your base currency
  • Verify your account and identity
  • Fund your μBTC account by scanning the provided QR code

Now you can deposit and withdraw in BTC and trade any of the multiple asset classes we offer!

Bitcoin has been widely adopted as a trading instrument and virtual currency in recent years. easyMarkets joins the likes of PayPal, Auction house Southeby’s, Amazon owned Twitch, Etsy and Xbox in accepting Bitcoin for services and transactions. And many companies such as Amazon, eBay, JP Morgan and Japanese mega eCommerce site Rakuten are looking into adopting Bitcoin as a form of payment.

Please note that you can only deposit and withdraw BTC with easyMarkets μBTC Account and can not exchange your funds to other FIAT currencies. All instruments traded on the platforms easyMarkets offers are CFDs, meaning you do not possess the underlying asset.

OctaFX Receives the ‘Decade of Excellence in Forex Asia’ Award for 2021

Just as OctaFX is preparing to celebrate ten years since its foundation this year, the company has received the prestigious ‘Decade of Excellence in Forex Asia’ award from the Global Banking and Finance Review.

In just a decade, OctaFX has become a prominent global Forex broker that offers an easy-to-use and secure trading platform, a wide variety of trading instruments, and 24/7 customer support in local languages. The company provides these services to over 7 million trading accounts worldwide, while the majority of users are located in South Asia.

Global Banking and Finance Awards were established to recognize financial companies worldwide that are high achieving in innovation, strategy, and other areas of expertise. Since 2011, the magazine has been giving out awards to the most progressive and inspirational companies.

‘For the last decade, OctaFX has been committed to providing traders with optimal trading conditions. Over the years OctaFX has expanded into new regions, added new assets, launched local bank payments, and offered numerous promotions. They have impacted the industry with their educational trading content and up to date analysis. Never resting on their laurels, they continue to improve trading conditions and deliver exceptional services backed by strong customer support,’ said Wanda Rich, the editor of Global Banking and Finance Review. ‘We look forward to seeing more from OctaFX in the years to come.’

OctaFX has been put in the spotlight with previous honors before—2018 and 2021 as the ‘Best Forex Broker Asia’, 2020 for ‘Best Forex Broker Nigeria’ and ‘Best Partnership Program South East Asia’, as well as ‘Best Broker’ in 2019, and more.


OctaFX is a global Forex broker that provides online trading services worldwide since 2011. It offers a state-of-the-art trading experience to over 7 million trading accounts worldwide. OctaFX has won more than 40 awards since its foundation, including the ‘Best ECN Broker 2020’ award from World Finance and more recently the 2021 ‘Best Forex Broker Asia’ award and the 2020 ‘Most Transparent Broker’ award from Global Banking & Finance Review and Forex Awards, respectively. The company is well-known for its social and charity activities.

2ND BIRTHDAY OF TIOMARKETS

On Friday 28th of May, TIOmarkets celebrates 2 years of opening its doors to the public.

In as little as two years TIOmarkets has proven itself as a robust and serious contending broker, capable of defeating the slim odds of survival in a crowded FX industry.

How has it been able to not only survive, but to thrive and prosper? Its low-cost trading environment – epitomised via the flagship account type “VIP Black” – draws traders to its financial ecosystem.

Notably, the VIP Black trading account offers:

  • Tight spreads from 0.4 on EURUSD
  • $0 commissions per lot
  • Personal trading consultation

Now known throughout the forex industry for its low cost trading environment, TIOmarkets couples the cost-saving experience with high-quality trading on a wide range of instruments and with highly-researched trading education for its clients.

As a company that takes its quality of service and product extremely seriously, they have no intention of increasing their pricing as time goes on. In fact, as a gesture of appreciation to its clients who have stayed loyal to the company since its inception two years ago, TIOmarkets management are announcing further price cuts, on the anniversary of its second birthday.

Lowering the barriers of access to the global financial markets, TIOmarkets is pledging to reduce the commissions of its basic Standard Account type from $3 commissions per side ($6 per round turn lot), down to $2.50 commissions per side, permanently, as of Monday 31 May 2021.

Standard account holders will also have a full range of access to TIOmarkets’ tradable instruments on both MT4 and MT5, support in their local language, and a full suite of educational resources to support them through the trading journey.

As a responsible broker, TIOmarkets takes pain to emphasise to its clients the risk of loss. The management team believe firmly, however, that client losses do not just occur in the form of failed trades. Exorbitant commissions, hidden fees and unnecessary trading costs play a significant role in dictating the size of client loss, and TIOmarkets insists in differentiating itself in this area.  Think of low trading costs, and think of TIOmarkets.

www.tiomarkets.com

Get Educated, Entertained and Elevated with Admirals’ Webinars.

It takes care, skill and excellent planning to ensure webinars entertain, educate and elevate traders’ market knowledge without becoming repetitive.

Admirals quickly discovered that the broadcast quality and the subject matter must be matched by the experts delivering the online seminar.

The analysts and trading experts must have that X-Factor. They also have to be experienced and have a complete grasp of the finer points of trading, from methods to strategies, from fundamental analysis to the correct use of technical analysis. The online seminar hosts need to deliver the lessons to a global audience.

Although the webinars get broadcast in English, the hosts must be sensitive to the fact that English is not the majority of their clients’ first language.

Admirals’ clients are as diverse as its global reach. They have 37 office locations globally and clients in 150 countries. The firm is one of Europe’s leading brokers, and the broker has a significant and established presence in Latin America.

Upcoming webinars over the coming weeks

In the working week beginning Monday, May 31, 2021, the firm is hosting several webinars.

The start of the trading day webinars at 8:30 am (GMT + 1) with Markus Gabel is a must, particularly for novice traders who want to develop fundamental and technical analysis skills.

Marcus covers what happened during the earlier overnight sessions in Sydney and Tokyo and the handover to the European session.

After this broadcast, you’ll be aware of the leading market drivers for the upcoming day, how to manage and strategize your trades, where to find inspiration for new trading ideas, and how to apply risk management techniques to safeguard your live positions.

During the week, Marcus expands his lessons to share his knowledge on a full spectrum of subjects. Learn to master new trading ideas and strategies and ensure you’re up to date with the latest trading developments.

Different methods to analyse the markets to find the best trades gets covered as a subject, including novel ways to use chart patterns and trading indicators. Marcus covers the range of financial markets, including FX, equities and commodities.

Finally, how to apply all this knowledge to trade through either the MetaTrader MT4 or MT5 platforms is discussed. Click on the link below to browse the upcoming morning sessions and register.

https://admiralmarkets.com/education/webinars/start-the-trading-day-with-markus-gabel-a-live-trading-webinar/

Paul Wallace is a professional financial trader with more than 27 years of experience working in competitive, results-driven, performance environments. He runs his webinars with one key goal; to help traders improve their trading performance.

Paul encourages his viewers to think outside of the box and in his online seminar titled “is trading an art or science?” he took clients on a fascinating and mind-opening journey of discovery.

In an upcoming webinar on May 28, he’ll cover the subject of the RSI, one of the most popular and valuable technical indicators. On June 4 and June 11 other subjects get covered in detail.

If you think this webinar might be for you, this link takes you directly to the sign-up page. The good news is you don’t have to be a client with a live trading account to watch the session.

How do professional traders use the RSI in their Trading? – Admirals (admiralmarkets.com)

Jens Klatt is the third of the renowned experts who host the various discussions and lessons. Jens is a professional analyst and trader who has been trading the global markets for over ten years. He is the author of two books and is featured on television and in the German media for his financial market opinion.

Jens, together with Marcus and Paul, variously and together will host the upcoming “how can we trade using market structure?” webinars. The next available places are on May 28 and June 4.

Each webinar will spotlight one popular trading topic and how you can apply the subject to maximise the potential of each trade you take.

The broadcasts cater for all abilities, and the content is suitable for novice, intermediate and advanced traders. You only have to register once to be invited to all upcoming events.

What market structure is, how it’s identified on trading charts, what you need to be aware of when trading market structure and how to apply it gets covered in the webinars. The link below takes you directly to the page.

https://admiralmarkets.com/education/webinars/trading-spotlight-1

Admirals place great emphasis on its webinars. The firm hosts close to ten each week. There’s always another if you don’t manage to watch them all.

If you’re already a client, these webinars could be considered essential viewing. You get to connect with the experts, and if you trade on MT4 or MT5, you learn to develop new skills that could improve your trading outcomes.

Once you’ve chosen a broker you feel confident in and familiar with, it’s crucial to absorb yourself with all their material.

The broker has also built an excellent library of knowledge for you to investigate during your free time while waiting for your trading setups to align. Although primarily aimed at novice traders, the content is carefully curated to appeal to all levels of ability and experience.

https://admiralmarkets.com/education#Beginner

About Admirals

Founded in 2001, Admirals is a multi-award-winning online financial broker offering competitive spreads and low commission charges. Admirals offer trading in Forex and CFDs on multiple products, including energies, stocks, bonds, ETFs, indices, and metals.

Through Admirals, traders can access high-tech platforms such as MetaTrader 4 and 5 on the web, mobile, and desktop for the ultimate trading experience. The mobile platforms are enhanced for iOS and Android, and clients can also access a proprietary plug-in called MetaTrader Supreme Edition.

Admirals’ clients get free access to webinars, seminars, and videos. Clients can trade from 150 countries and select from a wide range of accounts based on the software platforms clients prefer, their experience and their financial circumstances.

As a regulated broker, Admirals have approval and licenses in many jurisdictions, including Financial Conduct Authority (United Kingdom), Cyprus Securities and Exchange Commission (Cyprus), Financial Supervision Authority (Estonia), Australian Securities and Investments Commission (Australia), Financial Services Authority of Seychelles (Seychelles).

Clients can fund their accounts through Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Union Pay, Neteller, AstroPay, and Trustly.

Gold hits $1900. What’s next?

A sinking dollar, real yields in deeply negative territory and Fed officials singing from the same sheet are all creating an attractive environment for gold bugs.

Fed’s chorus of patience

The latest surge in the yellow metal comes in response to the series of Fed speakers this week who have been talking down the prospect of an extended period of inflation which means the central bank can be patient in adjusting its super accommodative policy. Governor Brainard kicked off the continued dovish take on rising prices by saying that she still did not see longer term inflation expectations rising substantially and the Fed had tools to affect those if they did.

Similarly, Atlanta Fed President Bostic stated that higher price levels do not seem to be “enduring”. More recently, vice chair Clarida continued the coordinated inflation pushback though he did mention that the tapering of asset purchases may happen “in upcoming meetings”.

Of course, gold trades on the interplay between inflation and interest rates and yields have been subdued at best lately, with rates effectively staying lower for longer at present. We’ve also seen a drop in inflation protected US 10-year government bonds this week further boosting gold and fueling the strong break to the upside.

A softer dollar helps the bugs

While Fed officials push back on inflation concerns, so the dollar, which is a key driver for gold. The buck has suffered as low yields and the steady global recovery make non-dollar investments attractive for investors seeking to diversify away from the greenback for better returns. The widely watched dollar index is now approaching the year-to-date lows seen in early January, as Wall Street analysts breathe a sigh of relief that their 2021 predictions of a weaker dollar start to become a reality.

Positive on the year

If the psychological $1900 level is taken out, bulls will aim for the major retracement level (61.8%) of the August to March correction at $1922.70 ahead of this year’s high around $1959. Support sits at the 50% retracement level at $1875.72 with the 200-day moving average below here just above $1840.

The downward trendline from the August highs is key with bulls keen to consolidate above here in order to push for more upside. The daily RSI is overbought and approaching 80 so some consolidation should be expected in the near term, especially if the dollar finds some buyers.

Written on 27/05/2021 07:00 GMT by Han Tan, Market Analyst at FXTM

For more information, please visit: FXTM

Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Trade Of The Week: Amazon To Announce MGM Purchase?

According to Bloomberg, Amazon could announce a deal to snap up the Metro-Goldwyn-Mayer movie studio (the one with the roaring lion as its mascot) by today. The deal could be worth nearly US$9 billion for the stable of content belonging to the film studio, which includes popular franchises such as James Bond, Robocop, and Rocky.

Media reports on this potential takeover have lifted Amazon’s stock prices, having gained in three of the past 4 sessions. Yet, looking at the longer-term trend, the stock is in need of a bigger catalyst to break out of its sideways trend and prompt its 50-day simple moving average (SMA) to have greater liftoff above its 200-day counterpart.

Amazon’s stocks have found its presence above $3500 to be fleeting. Since posting its highest-ever closing price on September 2nd, 2020, the stock is now lower by 8.11%. In contrast, the S&P 500 has gained over 17% since, while the Nasdaq 100 has added almost 10% during that same period (2 Sept 2020 – today).

Sign of the times: teenager takes over near-centenarian

For context, the purported $9 billion price tag is just about 12% of the $73.27 billion in cash and equivalents that Amazon had as of end-March. In return, its 15-year-old streaming platform gets to add another 4,000 films and 17,000 episodes of TV shows belonging to the 97-year-old film studio.

Having struggled to notch a mainstream hit, the acquisition could also grant Amazon access to the loyal followings of Mr. Bond and Mr. Balboa, not to mention also fans of Dr. Hannibal Lecter of Silence of the Lambs.

Note that Amazon’s subscription services accounted for 7% of its total revenue in Q1 2021, a share that has remained relatively stable over the past couple of years. This relatively small piece of the overall pie whoever is important to expand its subscriber tally and keep their eyeballs glued to Amazon’s platforms.

This deal also harbours the potential for revenue-generating spinoffs, promising a broader reach for Amazon’s Prime Video, a perk for Prime’s subscribers which already number at some 200 million.

Streaming wars heat up

If this deal happens, it would only underscore Amazon’s ambitions to be a major contender against streaming giants such as Netflix and Disney+. And Amazon hasn’t been afraid to spend so it can beef up.

In 2020 alone, Amazon spent $11 billion on content for its video streaming and music services. The company has also secured exclusive rights to NFL games on Thursday nights, stretching over the course of a decade beginning with the 2023 season, which would cost about one billion dollars per year. And don’t forget that Amazon has a multi-season series of “The Lord of the Rings” in the pipeline as well (think being able to impulsively buy LOTR merch while binge-watching this LOTR series).

Still, markets would be well aware that the streaming wars are far from over.

Recall that just last week, AT&T announced that it would spin off its media operations in order to combine it with Discovery and form a new media company which would be home to the likes of CNN, HBO, Cartoon Network, the Food Network, and the Animal Planet. That would create a formidable $130 billion player in the streaming wars.

According to Bloomberg data, there have been about $80 billion worth of media takeover deals announced year-to-date. That promises heightened competition for streaming platforms.

How might Amazon’s stock prices react?

It remains to be seen whether the official announcement of the deal will actually take place. Even then, it is unlikely to significantly reduce the 8% gap between current prices and the record high.

Note that even Amazon’s blowout Q1 results announced on 30 April didn’t lead to sustained gains; Amazon is down 6.4% on a month-to-date basis. To be fair, for the same month-to-date period, Disney is also down by more than 6%, while Netflix is faring relatively better having shed 2.06%.

For the longer-term, there apparently is still plenty of love for Amazon; the stock makes up more than 5% of the portfolios of over 70 hedge funds.

However, for the immediate term, it’ll likely require a lot more than just this MGM takeover for Amazon’s stocks to post a new record high.

Open your FXTM account today


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Risk Sentiment Improves As Inflation Fears Ease

As a chorus of Fed officials reiterated that the recent pickup in inflation would be transitory, investor fears were soothed about rising prices forcing higher interest rates. US equity bulls rejoiced on this development, encouraging buying in expensive growth stocks in sectors such as technology.

While these comments have lifted risk sentiment and offered support to stock markets, concerns still linger over the Fed taking action sooner, rather than later if inflationary pressures mount. In the meantime, financial markets are likely to remain highly sensitive to inflation expectations and comments from Fed officials on this topic.

Dollar drifts lower…

The past few weeks have certainly not been kind to the dollar.

It has weakened against every single G10 currency this month and remains vulnerable to further losses amid weaker treasury yields. Although inflation worries are receding following the latest comments from Fed officials, the damage has already been inflicted on the dollar.

The main risk events for the greenback today will be the US new home sales and consumer confidence data. For April, sales of new homes are expected to hit 950,000, falling from the 1,021,000 new homes sales in March. In regard to consumer confidence, it is expected to decline slightly in May falling to 119 from 121.7 in April.

Focusing on the technical picture, the Dollar Index is under pressure on the daily charts. Sustained weakness below the psychological 90.00 level may encourage a decline towards 89.30.

Germany GDP downgraded in Q1

The euro offered a muted response this morning to the news that Germany’s economy contracted in the first quarter by more than reported in the first release. Europe’s largest economy shrank by 1.8% quarter-on-quarter in the three months to March 2021 which was weaker than the first estimate of -1.7%. On the year, the economy shrank 3.1% compared to the 3.0% preliminary estimate. Despite the downgrade, the economic outlook is starting to brighten as coronavirus cases fall and lockdown restrictions ease across the continent.

The EUR/USD is currently trading above 1.2250 and dollar weakness could send the pair towards levels not seen since early January at 1.2300.

Commodity spotlight – Gold

Gold continues to shine thanks to a weaker dollar, falling Treasury yields and extreme volatility in the cryptocurrency space.

The precious metal is trading around levels not seen in four months and is up over six per cent in May. Despite the receding US inflation fears, gold is supported by other fundamental drivers. Although the path of least resistance points north, the price action around $1870 could determine whether gold extends gains or experiences a technical pullback this week. Should $1870 prove to be reliable support, a move towards $1900 could be on the cards. However, a decline below $1870 may signal a drop towards $1855 and $1840, respectively.

Open your FXTM account today


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.