Category Archives: FOREX

USDJPY and AUDUSD Technical analysis

Technical analysis

USDJPY changes direction to bullish as it breaks below the 50h MA. The pair hit the daily high at 111.59 during the Draghi speech, but sellers took control and driving the pair to 111

AUDUSD hits fresh 3 month lows at 0.7439 the lowest level since January 12, it is the fourth daily decline in a row and the pair has reached oversold level, we expect a small rebound.

GBP still holds the bullish momentum and every pull back is a buy opportunity. Bulls will get a boost if the pair will regain the 1.29 level

Technical Analysis for EURUSD and USDCAD

Technical Analysis for EURUSD and USDCAD

EURUSD gapped up higher today and is keeping most of the gains after the results of French election. The pair hit the daily high at 1.0904 and made the low at 1.0820 just below the 200d MA and is moving slower higher after. It is bullish that EURUSD tested with success the 200d MA, so we will stay long as the pair is trading above that support.

USDCAD makes and impressive comeback after touching the daily low at 1.3410, enhancing the bullish momentum that we wrote about last week. We are expecting short covering to start soon in the US session.

 

ATTENTION
The information is not an offer, no promotion, no consultation and no advice to buy or sell stocks, indices or currencies.  Trading stocks, indices or currencies is not only a chance, there is always a risk to lose money. Please only trade currencies if you are able to compensate possible losses. Please note that high profits always also contains a high risk. Please also trade with money that you dont need for daily costs.  Interferences with availability over the internet, availability of email deliverability or other software problems are further possible risks when trading with currencies




Disclaimer: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange (“Forex”), Commodity futures, options, CFDs or SpreadBetting you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange, Commodity futures, options, CFDs and SpreadBetting trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
This technical analysis is intended to provide general information and does NOT constitute the provision of INVESTMENT ADVICE. Investors and traders should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

GBPUSD Technical Analysis

GBPUSD Technical Analysis

GBPUSD spiked higher early today breaking the 50h and 100h MA and hit the daily high at 1.2255, and now retracing back, breaking below the 1.22 level. This is a nice entry point for longs as long the 100h MA support is on hold.

 

AUDUSD Technical Analysis

AUDUSD deploys positive momentum from 9th March low at 0.7487 and is close to break above the 0.76 level after the FOMC decision today. The 100 days MA offers the long term support and the 50h MA tested today and send the pair higher.

 

All forms of trading carry a high level of risk so you should only speculate with money you can afford to lose. You can lose more than your initial deposit and stake. Please ensure your chosen method matches your investment objectives, familiarize yourself with the risks involved and if necessary seek independent advice.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAN ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Investigators turn attention to second forex fraud in Dubai

Investigators turn attention to second forex fraud in Dubai

As the man behind a Dh50 million forex scheme that promised to double investors’ money is arrested for a second time, investigators are now turning their attention to a second forex fraud believed to have snared thousands of Emirates crew.

Sydney Lemos, who investors claim was the protagonist in the Exential operation run from Media City, has been rearrested and is in police custody, according to lawyers. He is accused of leading a team of sellers promising 120 per cent returns on US$20,000 accounts invested in foreign currencies. The bogus Exential trading scheme was shut down by the Economic Development Department last year.

Private investigators at UK firm Carlton Huxley, who are working on behalf of 30 clients – most of whom Emirates cabin crew – claim a second fund offering similar returns could have more victims.

UTMarkets is a UK-run website with offices in Bulgaria offering investors the chance to trade Forex and other commodities.“Our lead investigators have established that some people involved in Exential may also be connected with UTMarkets,” said John Rynne, a director of Carlton Huxley. “Carlton Huxley has been retained by a number of clients to look into the conduct of those involved in UTMarkets. “We are working with the Bulgarian law firm New Balkan Law Office along with authorities in the UK and Bulgaria.” The UTMarkets website makes similar profit promises to those of Exential, which left thousands devastated by debt.

The site, which remains active, offers an “unparalleled mix of forex and commodities brokerage services that’s easy to use and completely secure”.

Fraud investigators said the UTMarkets scheme developed quickly through recommendations among airline workers in late 2015 and early last year as Exential started to collapse.



“We have grounds to believe there are about 6,000 UTMarkets victims, 95 per cent of whom work for Emirates airline,” said one of the UK investigators, who has visited Dubai several times to interview account holders of both schemes. “We are keeping the legal department of Emirates informed and have identified people who appear to have been actively involved with Exential who are also involved in UTMarkets.”

Several UTMarkets account managers were approached for comment, but none responded. Asif, an Emirates ground crew employee from India who has been in Dubai for 11 years, borrowed about Dh110,000 to invest in UTMarkets in January 2016. He earns Dh15,000 a month.

He was paid about Dh7,000 a month for five months, but was encouraged to reinvest most of that by relationship managers working from an office in Sofia, Bulgaria. “I had heard of Exential for years, but had not invested,” he said. I was hoping to plan for my future with my wife, and heard Exential account holders were having problems, so invested with UTMarkets instead. They were offering almost twice as much in monthly returns. “My friends and colleagues at Emirates persuaded me that UTMarkets was a better investment.”

He claims many who lost out through Exential ploughed more money from loans and credit cards into the UTMarkets funds in an attempt to recover their initial deposits. Asif, who took no financial advice before handing over the cash, said he is owed about Dh84,500 from UTMarkets and was kept informed by his relationship managers via a What’sApp group that is no longer posting. “One of my friends has invested $30,000, another $50,000,” he said. “There are a lot of people in Dubai with big financial commitments to this. The conversation with UTMarkets stopped when they stopped paying out each month. The account managers have all now disappeared. It’s hard to know if the trading information they were giving us was real, or fake.” Carlton Huxley is planning a series of free to attend educational seminars later this year in Dubai to warn about the dangers of investing in similar schemes.

Source:TheNationalUAE

Technical Analysis USDJPY and EURUSD

Technical Analysis USDJPY and EURUSD

USDJPY is under pressure today breaking and the 113 level. The pair will rebound from current level as it has reached oversold level and the shorts will run for some profit taking.

EURUSD is trading today in positive bias again as dollar is under pressure. The pair reached the daily high t 1.0754 and i will stay bullish as long as the pair is trading above the 1.0715 level.

Support levels for EURUSD at: 1.0699 – 1.0686 – 1.0677
Resistance levels for EURUSD at: 1.0746 – 1.0763 – 1.0781

ATTENTION
The information is not an offer, no promotion, no consultation and no advice to buy or sell stocks, indices or currencies.  Trading stocks, indices or currencies is not only a chance, there is always a risk to lose money. Please only trade currencies if you are able to compensate possible losses. Please note that high profits always also contains a high risk. Please also trade with money that you dont need for daily costs.  Interferences with availability over the internet, availability of email deliverability or other software problems are further possible risks when trading with currencies
Disclaimer: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange (“Forex”), Commodity futures, options, CFDs or SpreadBetting you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange, Commodity futures, options, CFDs and SpreadBetting trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.

USDJPY Morning Report

 

The less than hawkish FOMC report send the pair below the 116 level hitting the lows at 115.57 crushing all supports. The technical picture is deteriorating for USDJPY and have already lost 200 pips in the Asian trading session. The massive sell off drove the pair to oversold levels and some traders will run to buy the dip for the rebound. First target on the upside the 116.25 level.

 

EURUSD hits fresh 14-year low at 1.0339

Daily Technical Aanlysis

ATTENTION
The information is not an offer, no promotion, no consultation and no advice to buy or sell stocks, indices or currencies.  Trading stocks, indices or currencies is not only a chance, there is always a risk to lose money. Please only trade currencies if you are able to compensate possible losses. Please note that high profits always also contains a high risk. Please also trade with money that you dont need for daily costs.  Interferences with availability over the internet, availability of email deliverability or other software problems are further possible risks when trading with currencies
Disclaimer: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange (“Forex”), Commodity futures, options, CFDs or SpreadBetting you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange, Commodity futures, options, CFDs and SpreadBetting trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
This technical analysis is intended to provide general information and does NOT constitute the provision of INVESTMENT ADVICE. Investors and traders should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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