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Superforex
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CAD/JPY: fundamental review and forecast CAD/JPY rates continues in the frames of a weak downtrend. We could expect more rapid weakening of the Canadian dollar, considering strong pressure for this currency in recent times, due to falling of oil prices. But CAD managed to find support and even strengthened against many currencies due to the statements of the Bank of Canada's representatives. they said about high probability of a rate hike, given continued economic growth. Therefore, increasing of the rates this year, can be considered as almost solved question. Contributed the strengthening of the Canadian dollar disappointing statistics from Japan. Trade balance amounted to only 0.13 T amid expected growth in 0.35 T. Japan's trade deficit widened to JPY 203.4 billion in May while investors were expecting a surplus +43 billion. Growth of exports also do not match with investors' expectations and amounted to only 14.9 percent, while imports increased more than expected - 17.8% vs. expected 14.5 %. The positive thing here is only fact that exports continues to grow for the sixth consecutive month. In the near future, the rates of CAD/JPY will continue depending on the situation on the oil market because oil prices have already continued to test new psychological marks and now it's already less than 44 dollars for barrel CL/WTI. Unlikely volatility will be high until June 30, when we will have a real Canadian-Japanese day: the market will get a lot of important statistics, such as Canada's GDP, the unemployment rate in Japan and the consumer price index PMI. Considering a lot of factors against CAD, the most effective can be considered short deals on the trend, that confirmed with the Stochastics oscillator.
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Exchanger Partnership If you dabble in the business of exchanging currency online, we have great news for you: you can make substantial extra profit on the side by becoming a SuperForex partner. What’s in it for you: Get up to 75% on the spread - the highest commission on the market; A free exchanger website complete with all kinds of web resources such as banners, APIs, informers, etc. from SuperForex; Full partner statistics and customizeable affiliate links in the Partner’s cabinet. All you need to do in return is to refer clients to us by using our wide set of online and offline promo materials. Learn more at https://superforex.com/Exchanger
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Special gathering in Malaysia On Sunday, June 4 we organized a special gathering for our local clients with the help of our Introducing Broker in Malaysia, Abdul Malek Azenan. The meeting was designed to introduce the most important aspects of the wide range of services that SuperForex provides. Some of the topics we covered included our variety of account types available, the best payment systems to use for financial transactions, our many bonuses which help clients to trade with a greater amount of funds than they actually deposit, and many other exclusive promotions that make SuperForex the best broker on the market. We were glad to see so many of you there. Thank you once again for joining us for this event! We would like to point out that Mr. Azenan always tries to make time for his clients, so if you have any questions at all, please do not hesitate to contact him - he would be more than happy to set up a meeting at a time that is convenient for you and answer all of your questions about SuperForex in person
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NZD/JPY: fundamental review and forecast On the NZD/JPY chart, we can see upward trend which had been formed just a month ago. Now it is becoming more intense. Especially, the Japanese yen lost in value today when the Bank of Japan revealed that they will not to change its monetary policy, keeping the stimulus program unchanged. The Bank of Japan also stated that won't raise interest rates in the foreseeable future. Although it has the reasons for the rate change and tightening of monetary policy considering that GDP growth for five consecutive quarters, good situation in labor market, despite the weak wage growth. But the Bank of Japan stated that they are not interested in strengthening of the yen because the weak yen will have a positive impact on the economy and unemployment level. The new Zealand dollar managed to strengthen against the yen weakening. Although this week was received contradictory statistics affecting the NZD value: GDP growth was weaker than expected in both quarterly and YoY, achieving +0.5% and +2.5%, respectively. But the index of business activity PMI exceeded expectations and amounted 58.5, which is the highest level since January 2016. Also, contributed the rapid strengthening of the NZD impressive data on the employment market in Australia, which is the main trading partner of New Zealand: unemployment rate in may was 5.5% against expected 5.7% and indicator of the "Level of change in employment” was 47K in May which is in 4.7 times more than expected. Thus, strengthening of the NZD has led to the breaking and moving of the resistance line. Oscillators MACD, Stochastics, RSI unanimously indicate that the rates are in the overbought zone at the moment. So, probability of a price correction in the near future is very high. We can only agree with that because the short deals seems would be the most effective at the moment.
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SuperForex Islamic Accounts If you would like to avoid swap fees, you can now register a special Swap-free account with SuperForex. Swap-free accounts are suitable for anyone who wants to work without such fees affecting their trading volume. They are especially appropriate for Muslim traders, as they remain consistent with the religious practices of Islam by not charging interest - this is why such accounts are also called ‘Islamic.’ Read more at https://superforex.com/swap-free-islamic-accounts
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AUD/CAD: review and forecast Сanadian dollar, is under intense pressure due to falling in oil prices. The rates of CL drops and can not find a base to stabilize. At the moment the price of a barrel of oil CL/WTI costs $ 45.39. Such a low level of prices had been reached only once, this year. After positive GDP data in Canada, at the beginning of the month, there were many factors that had a negative impact on the Canadian dollar. In addition to falling of oil prices, the market also dissapointed with statistics about reduction in the number of building permits by 0.2%, while investors expected in April increasing by 2.4%. Also it has been known about reduction of business activity index in Canada (PMI) to 53.8 against expected 62. A month earlier, the index reached a level of 62.4. Given the multiple factors against CAD it is not difficult to assume that the upward trend of AUD/CAD continues. But the Australian dollar deserved to grow even despite the weakening of the Canadian dollar. This week, there were data about GDP for the first quarter of 2017: it has grown to 0.3 percent, slightly exceeding the forecast; yoy GDP growth is more impressive - 1.7% vs. expected growth to 1.5%. The reserve Bank of Australia left interest rates unchanged and indicated further economic growth in the next few years.Situation with trading partners of Australia also in favour of Australia. Recently received statistics about China showed growth in exports and imports by 8.7% and 14.8%, significantly exceeding forecasts. In particular, the volume of iron ore imports in May increased by 11%. Also, increased imports of aluminium and copper. Oscillators indicate different signals. Stochastic signalized the beginning of a price correction and a good time for opening the deals against the trend. Upon short-term trading, such deals may be rather effective. Especially given that today we expect data about the change in employment for Canada which can support CAD. But there are no enough preconditions for a trend change. So, upon medium-term trading, it is better to trust the MACD oscillator and open the deals to BUY.
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Charge your trades with our 60% Energy Bonus! SuperForex has prepared a special offer for its most active users. All that you need to do is apply for our Energy Bonus and recharge your account. Every time you make a deposit to your account you will receive a 60% bonus - regardless of the amount of the deposit. To get the 60% Energy Bonus you need to open a live trading account and subscribe for the bonus from your Client's Cabinet. Read more via this link https://superforex.com/id/energy-bonus
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Superforex CSR Charity Event Panti Tuna Grahita Belaian Kasih On Saturday, June 3 2017, Superforex conducted a charity event in accordance with its Corporate Social Responsibility (CSR) policy in Panti Tuna Grahita Belaian Kasih in West Jakarta. The event was organized by our official representative in Indonesia, Carolin. Panti Tuna Grahita Belaian Kasih is a government-run and funded institution that takes care of people with impaired mental abilities. There are about 250 people taken care of in this institution, with a more or less even representation of men and women. The people in this institution are quite diverse, with an age range of 17 to 40 years old. Panti Tuna Grahita Belaian Kasih also accepts babies and children when the occasion arises. Unfortunately, sometimes children who are born with a lower mental capacity are abandoned by their parents and would be left living on the streets if it were not for such charities. In Panti Tuna Grahita Belaian Kasih, great care is taken to separate the female from the male residents. The caretakers are also of the same genders as the people they look after, for the residents’ comfort. The caretakers are only there to help as the people are encouraged to be independent according to their capability. They are also taught to be cooperative and help each other where the more able ones are to help the less so. The special charity event got a good response from the people in the institution. We would like to thank Carolin for her help and kindness in planning and participating in this event. Superforex is going to conduct more similar events in the future. Please stay up-to-date with the information about the upcoming Superforex CSR events so that you can participate in helping others. See you at our next initiative! You can contact with us via one of the listed contacts https://superforex.com/contacts-information
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AUD/CAD: review and forecast Сanadian dollar, is under intense pressure due to falling in oil prices. The rates of CL drops and can not find a base to stabilize. At the moment the price of a barrel of oil CL/WTI costs $ 45.39. Such a low level of prices had been reached only once, this year. After positive GDP data in Canada, at the beginning of the month, there were many factors that had a negative impact on the Canadian dollar. In addition to falling of oil prices, the market also dissapointed with statistics about reduction in the number of building permits by 0.2%, while investors expected in April increasing by 2.4%. Also it has been known about reduction of business activity index in Canada (PMI) to 53.8 against expected 62. A month earlier, the index reached a level of 62.4. Given the multiple factors against CAD it is not difficult to assume that the upward trend of AUD/CAD continues. But the Australian dollar deserved to grow even despite the weakening of the Canadian dollar. This week, there were data about GDP for the first quarter of 2017: it has grown to 0.3 percent, slightly exceeding the forecast; yoy GDP growth is more impressive - 1.7% vs. expected growth to 1.5%. The reserve Bank of Australia left interest rates unchanged and indicated further economic growth in the next few years.Situation with trading partners of Australia also in favour of Australia. Recently received statistics about China showed growth in exports and imports by 8.7% and 14.8%, significantly exceeding forecasts. In particular, the volume of iron ore imports in May increased by 11%. Also, increased imports of aluminium and copper. Oscillators indicate different signals. Stochastic signalized the beginning of a price correction and a good time for opening the deals against the trend. Upon short-term trading, such deals may be rather effective. Especially given that today we expect data about the change in employment for Canada which can support CAD. But there are no enough preconditions for a trend change. So, upon medium-term trading, it is better to trust the MACD oscillator and open the deals to BUY.
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SuperForex Islamic Accounts If you would like to avoid swap fees, you can now register a special Swap-free account with SuperForex. Swap-free accounts are suitable for anyone who wants to work without such fees affecting their trading volume. They are especially appropriate for Muslim traders, as they remain consistent with the religious practices of Islam by not charging interest - this is why such accounts are also called ‘Islamic’ Learn more at https://superforex.com/ru/swap-free-islamic-accounts
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NZD/USD: fundamental review and forecast Starting from May 2017, the downward trend has been changed by rapid upward trend. The New Zealand dollar reached the highest level 0.72 USD over the last 3 months and continues to go up. The main reason for the rapid growth is a weak dollar, which continues to be under the pressure due to investigations about influence of Russia on elections in the United States. In particular, this Thursday, the former head of the FBI, James Comey, will be reporting in Thursday for the Committee of the U.S. Congress. Investors fear it can impact negatively on the administration of D. Trump , as well as D. Trump. This is why the dollar loses in value against all currencies. But not only the weakening of the dollar affected the rate of NZD/USD. Also impacted received statistics about economy's most important trading partner of New Zealand - Australia. This week, the reserve Bank of Australia left interest rates unchanged and predicts economic growth for the next few years. Meanwhile, GDP data for Australia, has pleased investors: growth amounted to 0.3% in Q1 2017, while the market expected growth to 0.2%. Also, business inventories in Australia increased by 1.2 % in Q1 2017, exceeding market expectations of 0.5% growth. This is the strongest growth since 2012. The MACD indicates a good time for short deals. The RSI confirms this, pointing out that the rates are in the overbought zone, and high probability of a price correction. But considering fundamental factors upon medium-term trading, it is better to open the deals on the trend. Peak growth has not been achieved yet, and expected for the next week data about volumes of retail sales and GDP of New Zealand, may support the NZD.
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New payment services available! SuperForex is happy to announce that we have expanded our ever-growing list of supported payment systems in a continued effort to make financial transactions as easy and comfortable for you as possible. Now you will have a choice to use a number of Chinese payment service providers. China UnionPay With more daily transactions that both Visa and MasterCard, UnionPay is the largest card payment system in the world. This Shanghai-based organization is immensely popular in China and is regulated by the People’s Bank of China. If you own a UnionPay bank card, whether or not you reside in China, you will now be able to use it to make SuperForex deposits and withdrawals. WeChat One of the world’s most popular instant messaging apps, the Chinese service WeChat also supports a wallet and payments feature. By linking your WeChat account to either a bank account or a bank card, WeChat enables you to make quick payments while you surf the Net. We have taken into account the popularity of this payment method and have now made it available for you - you can use WeChat to make financial transactions for your SuperForex account. AliPay Owned by the Chinese giant Alibaba Group, AliPay is the world’s largest online and mobile payment system. AliPay boasts over 400 million subscribers, fast order executions, and reliable funds security. As its popularity cannot be ignored, you can now use your AliPay account to make deposits to and withdrawals from your SuperForex one. We hope that these newly-integrated payment options would enhance your SuperForex experience. Stay tuned to our news section to learn about all future improvements that our company develops. You can view the full list of payment systems via this link https://superforex.com/deposit-and-withdrawal
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USD/SEK – review and short term forecast. Since the beginning of April, the rates of USD/SEK continue in the frames of the downtrend. While the U.S dollar is under the pressure due to political scandals of the administration of D. Trump and slowdown of US economic growth, the Swedish Krona continues to strengthen, and reached the best level for the last 9 months - 8.68 SEK. against the dollar. But weakening of the dollar isn't the only reason that caused the strengthening of the crown. Also impacted the end of political uncertainty in the EU, and optimal economic indicators in Sweden. Published data showed GDP growth in Sweden to 0.4 % in Q1 2017. Investors expect more significant growth at 0.9%, but given the weakening dollar, it was enough to continue strengthening. Probably the downtrend will continue this month. The U.S. dollar, however, can be strengthened for some period. In particular, published data about employment in the US, encouraged investors, and it is stopped the weakening of the USD and consolidated the rates. According to the ADP's company report , the number of jobs created in may increased by 253 thousand, although it was expected only by 185 thousand places. Today we expect the official data from the Ministry of labour, which likely will confirm the statistics from the ADP. Good data on the labor market may influence the FED's decision to raise the rate. So investors are focused on this data and waiting for it with high attention. Thus, in the near future, we can expect a price correction and upon short-term trading, the most effective will be the deals to Buy. The Stochastic oscillator also indicates a good time for the long trades. We can also designate the points of entry at the levels 8.671 and 8.705 SEK, breakout of which will be signalized the exit from the consolidation phase. Special attention should be paid to the level 8.671, achieving of which will be signalized about continuation of the trend, and can be a good signal to open the short deals.
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No Spread Accounts by SuperForex This new version of a live trading account is open to both new and existing customers. Using the No Spread account, unlike the standard one, gives you the unique advantage to trade without paying any spreads on the deals you open, regardless of the trading instruments used. Have you ever wondered why often you’re already losing money immediately after opening a new position? This is because a spread fee has been charged to your account due to the difference between bid and ask prices. The No Spread account would allow you to avoid that.
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OIL (CL/WTI): middle term review and forecast Oil prices are gradually decreasing. Extension of the Pact on "Reducing of oil extraction" does not change the situation, as it was expected. OPEC's attempt to impact the market with the help of this agreement will be doomed, amid news about increasing of drilling activity in the USA, 19th week in a row, and increasing of oil production in Libya which haven't joint the agreement on "Reducing of oil extraction". At the same time, in order for achieving the balance on the market and oil prices growth, it is necessary to reduce oil extraction by all countries-manufacturers but this does not happen, and the reserves of crude oil on the market are close to record levels. Thus, the supply continues to exceed demand on the market. Despite the dominant number of negative signals on the market, the rates of oil continues in the frames of the upward trend, though it is solely by inertia, and it's not based on objective factors. There're no perspectives for further growth at the moment. Most likely, in the near future, the upward trend will be changed to the flat trend which has already been formed. Lines of support and resistance can be fixed at the levels of 44.5 and $ 54 a barrel mark CL/WTI. Oscillators are neutral at the moment. Today investors are waiting for the data about oil stocks from the American petroleum Institute. Investors expect a reduction of oil reserves that may support oil prices a bit. Therefore, upon short-term trading, you can open the deals to BUY. But upon medium-term trading, the deals to SELL can be more effective. More reviews at https://superforex.com/analytics
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Special event for traders and partners in Singapore! On Saturday, May 27 SuperForex organized a special event for traders and partners in Singapore, the financial capital of Asia. This exclusive gathering was hosted by Mr. Edward Khoo, the founder of LS Capital Pte Ltd, a company that specializes in developing and selling highly profitable Forex trading Expert Advisors (automated trading robots). Khoo is an experienced trader and analyst who was able to put his many years of practice to good work by developing some of the most successful expert advisors out there in the market. The seminar was attended by over 40 people who had the opportunity to learn new tips and tricks about Forex trading. Edward Khoo and Simon Leung led fascinating discussions on Expert Advisor concept designs for the Golden Unicorn EA where they explained and demonstrated its effectiveness. In the afternoon the group was also joined by the SuperForex CEO who shed light on the basics of trading with SuperForex - our wide range of account options, comprehensive partnership program, as well as bonuses and special offers such as the SuperForex Lucky Draw. We would like to thank everyone who joined us for this productive seminar! We hope you enjoyed our event and brought lots of new useful ideas home with you. Keep an eye out for news about similar events we plan to organize in the future. If you are a partner or consider becoming one, don’t hesitate to get in touch with our Partnership Department and share your ideas for Forex-related gatherings in your region, we’d be glad to help!
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XAU/USD (GOLD): Short review and forecast This week prices for Gold continue to grow. The main factor of growth, of course, was the terrorist attack in Manchester, which forced investors to turn to less risky assets. In addition, the growth of prices continued amid the weak dollar and based on the results of the FOMC Committee meeting, where was designated plans of the US Central Bank to reduce the balance before the end of this year. The FED, which had planned a rate increase this year 2 times, began doubt about necessity for further growth of the rate due to weak economic indicators and slowdown of the economy, although the probability of a rate hike in June remains high. Of course it's also impacted the value of GOLD. Political instability in the United States and possibility of beginning a full and protracted political crisis also, contributes the growth. So, there're a lot of factors which say about further increasing of prices. We can say for sure that the upward trend will continue and increase its intensity in the near future. It should be noted that the rates was carried out with high volatility in a wide range, but now the situation changes and the upward trend is more stable, which is clearly seen on the chart. Thus, we can say that at the moment, the deals to BUY are more effective. Oscillator MACD confirms this.
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Don't miss your chance to get $300 from SuperForex! There are millions of people who dream about winning the lottery, especially when there is such a big prize at stake - we give you a chance to try your luck! SuperForex holds a raffle for the prize of $300 every 2 months. The SuperForex Bonus Prize can be used to operate with a larger trading volume, which could earn you much more profit. All that is required for participation in the lottery is a verified account and a balance of $50 for the entire period of the Lottery. Also, you need to confirm your participation by clicking the "Get a lottery ticket" button in the Client's Cabinet. You can spin wheel of fortune in your clients cabinet https://my.superforex.com/login-client
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CAD/JPY: fundamental review and forecast The rates of the CAD/JPY for a long time was in the frames of the rapid downward trend, but now the situation can be changed: the trend had lost its intensity and the canadian dollar strengthened against the yen. Perhaps we can see beginning of a new trend. Actually it has been formed and we can see that resistance line has been shifted, and the support line had turned up. However, given that strengthening of the CAD, is mainly based on the increasing of oil prices, which continues to grow amid upcoming summit of OPEC this Friday, crude oil prices may resume a declining for the next few weeks. And this will happen in any case - if OPEC countries extend the agreement On the reduction of oil and in case if not extended. The reason is that extending of the agreement by the OPEC does not solve all questions about the overabundance of oil on the market. The United States and Canada can negate all effect, and higher prices will only motivate for further increasing of oil production. this has been proven in practice. The Japanese yen wasn't able to resist successfully the onslaught of the Canadian dollar due to disappointing data from Japan this week: trade balance of Japan was 0.1 T in April, although investors expected level of 0.25 T, the volume of exports grew by only 7.5% against the expected growth of 7.8% and the volume of imports increased by 15%, which is more than expected but in the future it is a threat to the trade balance of the country. Next week important data that could support JPY is not expected at all. Thus, we can say that in the short term, the CAD will strengthen against many currencies due to the increasing of oil prices. It's happening now - oil prices on Monday achieved a 5 week high and continue to grow, so the deals to Buy will be most effective at this moment upon short term trading. More reviews at https://superforex.com/analytics
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Trade Mobile with SuperForex The SuperForex Mobile Platform is a unique mobile platform that allows traders to perform trading operations on the financial markets anywhere and anytime by accessing the trading terminal directly from their Android/iOS smartphone or tablet. With our mobile platform it does not matter where you are - you can be at work, at home, on a vacation resort somewhere or stuck in a traffic jam on the way to a party - as long as you are with a smartphone or a tablet connected to the Internet, you will always be able to trade on the Forex market. Learn more at https://superforex.com/superforex-mobile-platform
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Meeting our IBs from Kelantan, Penang, and Perak! SuperForex never ceases to develop new services and beneficial conditions for both clients and partners. Because we have the most sophisticated and attractive Partnership Program on the market, we can boast a great network of Introducing Brokers all around the world. Looking at Malaysia specifically, we have established partnerships with representatives from Kuala Lumpur, Selangor, Penang, Perak, Sabah and Sarawak; we recently acquired a new IB from Kelantan as well. Partners like these are crucial for our work as they are able to provide advice, organize training seminars, and perform certain services on behalf of customers from the region. That is why we are happy with our constantly expanding group of partners in Asia, one of our strongest regions. It is our plan to continue arranging meetings between IBs and our CEO in order to provide full support for our partners. These meetings give our partners a chance to meet with us personally, find answers to all of their questions and learn how to utilize our help in online and offline promotion. We recently also met with our IB in Perak. We have a special offer for clients in that region: if you make a deposit over $100, you will get a free T-shirt from our Introducing Broker in Perak. Thank you for partnering up with us! We promise to be with our partners every step of the way and provide constant support. You can learn more about our Partnership Program here https://superforex.com/partnership-program
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NZD/JPY: fundamental review and forecast Since the beginning of the year, the rates of the NZD/JPY continued in the frames of the rapid downtrend, however, the situation began to change and the current trend is under threat to change. On the chart has traced the new upward trend. It is too early to speak about the final change, but probability remains high. Both support line and resistance line have been removed. Though if the resistance line shifted in the downward direction, the support line has been reversed up. So, Why the trend has begun to change its direction? In the beginning of the month, the Japanese yen came under the pressure because of geopolitical tensions on the Korean Peninsula. The conflict at any moment could go to the active zone and Japan could be involved in this conflict. So, the yen has lost positions against most currencies. Amid the geopolitical risks for Japan, the new Zealand dollar has been supported by positive data about retail volume which rose in the 1st quarter of 2017 in 1.5% against the forecast of 0.9%. It was the sharpest increase in retail trade since the second quarter of 2016. In addition, the number of tourists in April, continues to grow, increasing by 20% year on year. Strengthening of the NZD also contributes by the rising commodity prices, including oil. Nevertheless, the Japanese yen managed to take the initiative again due to yesterday's data about the Japanese economy. Japan's GDP for the first quarter of 2017 increased by 0.5%, coinciding with the forecasts of investors, and in year on year increasing was 2.2%, against forecasted 1.7%. In addition, second month in a row, orders for machinery have increased, although investors expected more than actual + 1.4% growth. At the moment, the value of NZD consolidated in the range of 76.7 - 77.1 JPY. This levels are good entry points to the market. At the moment, the most optimal can be the deals to BUY, considering that today the market is expecting for the data about the milk price index. It will be published today and can support the NZD in the short term perspective. MACD, RSI oscillators confirm this and also signal a good moment for opening the deals to BUY. As for the medium-term trading, next week we'll get the data about the trade balance and export volumes - both from Japan and New Zealand. So, both currencies can get support and go up in price.
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SuperForex has reached 100 000 clients! Thank you for being part of the SuperForex trading family! Without you all of our hard work would be pointless because customers are the center of any successful business. We have had quite a good run so far and we thought you might want to hear about it. With our ever-expanding fan base, we recently hit an important milestone and now officially have over 100 000 customers. Our 100 000th customer, Mr. Ariwanto gave us a brief interview about his experience with us. He shared that he got into Forex trading about five years ago because he saw its vast potential for profit. Mr. Ariwanto’s favorite trading instrument is the EUR/USD pair. His best advice for other traders is that they should not be too greedy and aim for stable, consistent profits instead of sporadic, big ones. If he ever makes a million dollars from trading with SuperForex, he wishes to start a foundation for helping orphaned children. For being our lucky number 100 000, we have awarded Mr. Ariwanto with an account for management in our company. This account comes preloaded with a substantial deposit and our winner is free to trade from it as he sees fit; all profit is withdrawable. Our client will also get a subscription to our new Forex Copy service which would permit him to copy the trades of our most successful users. Here is Mr. Ariwanto meeting with Mr. Yoga, our official representative in Indonesia, to claim his reward.
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EUR/SGD: review and forecast Strengthening of the Euro, which began since the 1st round of elections in France, continues now. Political risks for the EU has been decreased and future of the EU does not cause serious doubts among investors anymore. Good economic indicators in the Eurozone, allow the Euro to grow, against most of currencies including the SGD. So we can see that on the chart of the EUR/SGD was formed by the rapid upward trend which may continue in the future. The value of the Euro reached the price 1.5455 SGD which is the highest level for the last 12 months.This week, the Euro also strengthened significantly against the USD, reaching the highest for the 6 months level. Obtained data on GDP matched with expectations of investors, as well as recently received data about the consumer price index, so they continue to invest in Euro. At the same time, the Singapore dollar is losing value and can't find an incentive to strengthen. Received today data about Domestic Exports of Non Oil (NODX) in Singapore decreased to - 0.7 % yoy while investors were expecting for 12.4% growth considering that last month NODX volumes increased up to 16.5% yoy It should be noted that fall of exports, has been fixed for the first time in 6 months, so the market took it negatively. New upward trend will probably continue, but in the near future we can expect for price correction. Oscillators MACD, Stochastics, RSI, unanimously indicate a good moment to open the short deals against the trend. Though upon medium-term trading it is better to open the deals on the trend. Read more analytics at https://superforex.com/analytics
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Forex Distance Educational course! To help you become better acquainted with Forex trading SuperForex has prepared a special Distance Education Course for you. Over the span of these lectures you would be able to learn key concepts about Forex trading such as pricing and reading quotations, the elements of technical analysis, pattern recognition and interpretation, reading different types of charts, and many more trading essentials. You would be provided with visual and quantitative examples to enhance your learning process. Each lecture also contains a set of sample questions to test your knowledge after completing the reading. The Distance Education Course is entirely free of charge for SuperForex customers! Now it's available on Indonesian Bahasa! Read more at https://education.superforex.com
