InvestMacro

December 14, 2020 – Limassol, Cyprus – RoboMarkets, a company providing trading services to clients all over Europe, announces that it has been awarded the “Best Mobile Trading Platform” prize of the “Professional Trader Awards”. Professional traders voted for the winners.

Prizes of the “Professional Trader Awards” are given to brokers that provide exclusive services for professional trading accounts. There are 14 nominations singling out companies that have reached impressive results in technologies and innovations, trading conditions and the quality of trade execution, loyalty programs and client support.

On October 5th, 2020, when the nominees in each category were chosen, open voting started. During three weeks, the organizing committee communicated closely with the professional traders’ community via media partners and trade representatives; also, individual market players trading on professional accounts were polled. All traders were asked to vote for the best companies based on their personal experience. This is how the professional traders’ community chose the winners of “Professional Trader Awards 2020”.

Denis Golomedov, CMO at RoboMarkets:

“We are happy that this year the professional traders’ community named RoboMarkets mobile trading platform the best one. R MobileTrader is a complete trading platform that lets you not only trade via a smartphone or tablet but also deposit your accounts quickly, analyze the market efficiently, and get support from our RoboMarkets Live team. Also, at the end of the previous year, we launched a mobile version of R Trader. Now traders can check the prices, control their investment portfolios, and make orders via their gadgets faster and easier than ever else.”

About RoboMarkets

RoboMarkets is an investment company with the CySEC license No. 191/13. RoboMarkets offers investment services in many European countries by providing traders, who work on financial markets, with access to its proprietary trading platforms. More detailed information about the company’s products and services can be found at robomarkets.com.

By Orbex

GBPCHF Struggles on No-Deal Prospect

Trading the pound Sterling certainly is not for the faint-hearted these days. With only two weeks to go before the end of the transition period, London and Brussels are yet to clinch a deal.

While a hard Brexit has become a reality by default – a synonym for the pound’s demise, extending the deadline could be the last and pretty familiar resort. Don’t be surprised if the pound’s quote swings around in the next few days. Traders are still trying to take the right side before closing the book for the year.

The pair is falling towards the major support level of 1.1600. Below that, 1.13s could become the next pricing range.

USDCAD Softens to 2018 Lows

The US dollar’s downward spiral may last longer than bulls can hold their breath. There is no sign of a meaningful rebound yet, whether fundamental or technical wise.

The Federal Reserve is expected to refrain from additional measures, even if the Treasury’s fiscal stimulus might not be under the Christmas tree this year. The central bank may issue marginal tweaks to its guidance. However, the lack of a hawkish tone will probably keep the greenback as a target for bearish trend followers.

The pair is heading towards April 2018’s low of 1.2540. Any bounce will stay temporary unless it can lift offers around 1.3000.

EURNZD Weakens as Risk-Taking Prevails

The latest rally in the euro could be short-lived as investors’ mood still favors growth-related assets. Any correction in the kiwi is seen as a buying opportunity, as recent troughs were followed by new tops. A recovering Chinese economy and rising commodity prices have offered effective tailwinds to New Zealand.

As the pair is tanking towards this year’s lows, traders are looking for more catalysts to push even further. That could be the case if New Zealand’s growth figure shows resilience this Wednesday.

1.7000 acts as a psychological support level but a bearish breakout could send the exchange rate to 1.6800.

AUDCAD Climbs on Recovery Optimism

Despite souring relations with China, which is rolling out tariffs on a number of Australian exports, the Aussie still keeps its lead across the board.

As global optimism reached a new high following the release of the Covid vaccine, risk-on sentiment has sent asset prices into over-bought territories. Surging commodity prices and the RBA’s firm stance in keeping the rates intact have helped the country’s currency consolidate its gains.

Should Australia’s jobs data show signs of improvement this week, the pair may finally rise above the triple top of 0.9650.

In the case of a retracement, 0.9460 is a key support to maintain the bullish mood.

By Orbex

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the pair is still moving within the descending tendency. Right now, after forming several reversal patterns, such as Hammer, not far from the support level, USDCAD has reversed in the form of another correction and may later continue falling within the descending channel. in this case, the downside target will be at 1.2675. However, an alternative scenario implies that the price may start a new pullback to return to 1.2825 before resuming the downtrend.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after forming a Shooting Star pattern and reversing, AUDUSD continues growing within the rising channel. In this case, the upside target will be the next resistance level at 0.7620. At the same time, an opposite scenario says that the price may continue falling to return to 0.7515 before resuming its growth and updating highs.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after breaking the descending channel’s downside border and forming several reversal patterns, such as Doji, not far from the support area, USDCHF may later resume the descending tendency. In this case, the next downside target may be the support area at 0.8815. Still, there might be an alternative scenario, according to which the asset may return to 0.8945 before resuming its decline.

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

XAUUSD, “Gold vs US Dollar”

From the technical point of view, the H4 chart shows that the correctional uptrend has failed to reach 38.2% fibo at 1883.00. Right now, XAUUSD is forming another descending impulse towards the previous low at 1764.36. However, as long as the price is moving above the low, the asset may yet grow to reach 38.2% and 50.0% fibo at 1883.00 and 1919.00 respectively. On the other hand, a breakout of the low will allow the pair to continue its mid-term downtrend towards 38.2% fibo at 1725.37.

The H1 chart shows a more detailed structure of the current descending impulse after a divergence on MACD. By now, it has already broken 50.0% fibo and may later continue towards 61.8% and 76.0% fibo at 1806.76 and 1791.00 respectively, and then the low at 1764.36. However, a breakout of the local high at 1875.25 will result in further mid-term correction to the upside.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the descending tendency continues. After breaking 0.8999, USDCHF has entered the post-correctional extension area between 138.2% and 161.8% fibo at 0.8886 and 0.8816 respectively. The key downside target is the long-term 50.0% fibo at 0.8707. The resistance is at 0.8999. At the same time, a local convergence on MACD says that a new pullback may start at any moment.

In the H1 chart, the pair is correcting upwards after a convergence on MACD, and has already reached 23.6% fibo. Later, the market may continue growing towards 38.2%, 50.0%, and 61.8% fibo at 0.8944, 0.8972, and 0.9000 respectively. A breakout of the support at 0.8851 will complete this local correction and result in a further mid-term downtrend.

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 JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2140
• Prev Close: 1.2112
• % chg. over the last day: -0.23%

EUR/USD returns lost positions in the Asian session, but the overall picture isn’t changing. Since December 4, the currency pair has been stuck in a range and will consolidate after a monthly rally, indicating the possibility of further gains in the mid-term. Information about negotiations around the Brexit agreement supports the European currency, but the continuation of the upward trend is still in question.

Trading recommendations

• Support levels: 1.2175, 1.2167
• Resistance levels: 1.2059, 1.1924

The main scenario: buying on a decline. Technical indicators and fundamental background are still on the bulls’ side, but be cautious. First, the price is close to annual highs. Secondly, a break-through of 1.2175 is required to continue the trend. As long as the pair is above SMA 100 and SMA 50, the likelihood of a bullish breakout remains. The MACD is in the positive zone, Stochastic has reached the overbought zone and indicates an approaching pullback.

Alternative scenario: if the price fixes below the level of 1.2116 on the H1 timeframe, the currency pair is likely to decline to 1.2159.

There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3294
• Prev Close: 1.3227
• % chg. over the last day: -0.51%

Sterling regained its lost positions in the Asian session and remains bullish in the short term. Investors reacted positively to the information about the continuation of the negotiations. It is unlikely that this will be able to resume growth in the mid-term, but the likelihood of the sterling growth increased significantly.

Trading recommendations

• Support levels: 1.3225, 1.3196
• Resistance levels: 1.3407, 1.3477

The main scenario: buying on a decline. The price is stuck between the SMA 50 and SMA 100 levels, but the MACD has already moved into the positive zone, and the Stochastic has not reached the overbought level. The likelihood of the continuation of the northward movement remains high. The fixation above the moving average at 1.3327 of the H1 timeframe will strengthen the bullish signal.

Alternative scenario: if the price fixes below 1.3279, the bullish impetus will be lost, and buying the instrument can be considered.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 104.25
• Prev Close: 104.06
• % chg. over the last day: -0.18%

On Friday, the trading session has closed in the red on the background of the aggravation of the situation in trade negotiations, but already with the beginning of the Asian session, the appetite for risk is recovering. The Japanese yen is gradually losing ground against the dollar. But the volatility in the currency pair continues to decline and it is difficult to expect any serious hike.

Trading recommendations

• Support levels: 103.83, 103.93
• Resistance levels: 104.59, 104.74

The main trading scenario for the pair – we consider trading in a sideways range between the levels of 104.59 and 103.83. Since the currency pair is near the lower border, you can try to buy with the target of 104.59 – 104.74. The expectations of a short-term upward movement will be strengthened by the break-through of the two moving averages in the 104.17 area. Oscillators don’t give any clear signal.

An alternative scenario assumes a breakdown to 103.83 and a fall to 103.19.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2739
• Prev Close: 1.2770
• % chg. over the last day: +0.24%

Oil continues to support the quotes of the Canadian dollar. It seems that this commodity currency is not going to retreat, as “black gold” has fixed above the opening level of last week. Brent quotes have reached February values this year. In this context, buying remains dangerous and any northern pullback could be an opportunity for short positions.

Trading recommendations

• Support levels: 1.2707, 1.2528
• Resistance levels: 1.2835, 1.2886, 1.3026

Consider trading in a sideways range between 1.2780 and 1.2707. On Friday and today, the pair failed to fix above the SMA 50 and SMA 100 in the Asian session, which indicates a continuation of the bearish trend. Stochastic is behaving very calmly, hinting at trading in a very narrow range. The MACD is in the positive zone. The signals are multidirectional. It’s most likely that there will be the sideways range.

Alternative scenario: if the price manages to return above 1.2780, the southern trend will be broken in the short term and a buy signal will appear towards the level of 1.2886.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Han Tan, Market Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

By Han Tan, Market Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Author: Dmitriy Gurkovskiy, Chief Analyst at RoboForex

December 13th was the deadline for the negotiations between British and European politicians about the conditions of the United Kingdom’s exiting the European Union. However, no decisions have been made and there is no extra time to make them. There were some tricks with phone calls later, though, which said that the parties agreed to continue discussing critical problems until they reached a compromise. But as time goes by, the whole situation is looking more and more ridiculous: policymakers had a year to help them avoid the “hardcore” Brexit and this year is now over.

The Pound is currently trying to make an impression that it takes no interest in all these concerns and that politicians will finally make a deal on fishing, trade border, and even Ireland, which will help the UK somehow leave the EU on December 31st. Not with flying colors but without a white flag neither.

However, this is just an illusion. The “hardcore” Brexit seems like the only possible scenario for the United Kingdom, which never saw fit to meet its opponent halfway. Unfortunately, it is the business community that will pay for ambitious decisions made by politicians.

As we can see in the H4 chart, after reaching the short-term correctional target at 1.3137, GBP/USD is growing towards 1.3430 and may later complete the correction by reaching 1.3160. After that, the instrument may grow towards 1.3330 or even break it. In this case, the market may continue trading upwards with the target at 1.3590. From the technical point of view, this scenario is confirmed by MACD Oscillator: after breaking the histogram area, its signal line is steadily moving upwards to reach 0. After a breakout of this level to the upside, the asset may boost its growth on the price chart.

In the H1 chart, after breaking 1.3278 to the upside, the asset is expected to form one more ascending structure to reach 1.3370 and may later return to 1.3278 to test it from above. After that, the instrument may start another growth towards 1.3430 and then form a new descending wave with the target at 1.3120. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is moving above 80, which suggests that the market is trading within the “overbought area” and may start a new decline on the price chart.

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair completed a wave of growth to 1.2158. At the moment, the market is trading in a consolidation range under this level. With an escape fro the range upwards, the trend might continue to 1.2210. With an escape downwards, the pair might decline to 1.2050. Then growth to 1.2200 should follow.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair performed a wave of decline to 1.3246. Today, it might correct to 1.3360. Then a decline to 1.3015 might follow.

USDRUB, “US Dollar vs Russian Ruble”

The currency pair is trading at the lower border of a consolidation range. With an escape downwards, a decline to 72.40 and then – to 71.90 might follow.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair broke 104.24 top-down and reached the goal of the declining wave at 103.93. Then a link of growth to 104.24 might follow (a test from below). Then we expect a decline to 103.60.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair broke 0.8880 downwards. A structure of decline to 0.8850 and a correction to 0.880 happened then. Today, the market keeps declining. The level of 0.8838 might be reached, followed by growth to 0.8880.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair reached the goal of a wave of growth at 0.7544. Today, we expect a consolidation range to form at these highs. With an escape from it downwards, a wave of decline to 0.7330 might start. The goal is first.

BRENT

Oil performed a wave of growth to 50.77. Today, the market is correcting to 49.66. When it is over, another structure of growth to 51.17 might develop.

XAUUSD, “Gold vs US Dollar”

Gold is trading in a consolidation range around 1839.15. The range might extend to 1852.90. Then another link of decline to 1819.15 might follow.

BTCUSD, “Bitcoin vs US Dollar”

The market is forming a consolidation range around 18,111. With an escape downwards, a pathway to 16,600 might open. With an escape upwards, a correction to 18,800 will become possible.

S&P 500

The market performed a wave of decline to 3467.0. Today, a correction to 3686.3 might follow. Then we expect a decline to 3600.0.

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 JustForex

In Washington, officials were unable to agree on a program of additional economic stimulus worth just over $900 billion. The breakdown of negotiations changed the investors’ tactics from bullish to bearish. The yen and franc went up along with bonds. Stock indices went down. The yield of the benchmark US Treasuries ends the week in the red at the level of 0.880% after a solid fortnight gain.

The decline in shares of the banking sector in the US also affected the European stock market. Moreover, European stocks fell within additional pressure from the lack of progress in the Brexit negotiations. Officials are already extremely skeptical about the possibility of reaching an agreement on this issue. As a result, the pound fell within strong pressure.

The euro is close to its annual highs. The single European currency is supported by the approval of a budget of $2.2 trillion and an additional stimulus package aimed at stabilizing inflation and leaving the deflationary spiral in 2021.

The product market continues to grow. Oil futures hit highs in March, pushing the Commodity Spot Index to the highs of 2014. The recovery of oil demand is supported by the positive sentiment of the investors about the decline in the pandemic.

Market indicators

Major stock indices are trading in the red:

S&P 500 (F) 3.637.12 -31.38 -0.86%

Dow Jones 29.999.26 -69.55 -0.23%

DAX 13.073.75 -221.98 -1.67%

FTSE 100 6.541.09 -58.67 -0.89%

USD Index 91,000 +0.180 +0.20%

• There are no important events today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.