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[Superforex]

 

AUD / CAD technical analysis

 

At the moment, the pair is trading in a downtrend and is between 23.6 and 0.00 Fibo levels with a daily chart.

Since recently some reliable enough data came from Canada, we see further strengthening of the Canadian currency.

The indices of RSI and Stochastic also confirm the downward movement after a small correction of 75 points.

At the moment, the pair is also under our Moving Average with a period of 28 and tends to a resistance level lying at 0.00 Fibo level (0.9655).

Tomorrow a number of important news will be released in Australia, at 2:15 (GMT +3) the speach of the Deputy Head of the Reserve Bank of Australia Debbel will take place, and at 4.30 (GMT +3) the changes in the level of employment for August will be published. This may slightly increase the volatility of our pair at the time of the news release.

By day trading, we are now seeing a downward movement, so there is an opportunity to take short positions. With take-profit and stop loss at the levels of 0.0 and 23.6 by Fibo, respectively. We also have a twice tested resistance level of 0.9690, on which it is also possible to fix profits and look for further fluctuations of the pair.

The intersection of our gliding (28) body with a candle and the subsequent fastening of the next candle by the body will highlight a possible reversal.

Support and resistance levels:

0.9655, 0.9690, 0.9745, 0.9805, 0.9870, 0.9900, 09975, 1.0050

[Superforex]

SuperForex at ShowFX Conference in Singapore

 

We would like to cordially invite you to join us for a productive day of learning and networking at the annual ShowFX Forex conference which will be held on October 21 in Singapore, the finance hub of East Asia. The ShowFX Conference in Singapore aims to increase the professionalism of traders and unite in one place all members of the Forex community: brokers, trading experts, and, of course, traders.

Don't miss the chance to discuss trading with SuperForex analysts and become a SuperForex Trader, or to speak about our partnership conditions with our Business Development team.

If you want to become a participant of the conference, please indicate your desire by contacting our support team in any way convenient for you. Our website: https://superforex.com

 

You’ll also have the unique chance to participate in a lottery and win up to $500. Other amazing offers are also awaiting you in Singapore. We'll be glad to answer all your questions. See you there!

https://youtu.be/TSrm_VTmFK0

 

[Superforex]

 

A new wave of tension

 

North Korea conducted a nuclear test again

This morning on September 15, Japan stated that North Korea once again conducted nuclear tests and the missile flew over the northeastern part of the country. At the same time, South Korea also conducted military exercises, firing a rocket at sea. Earlier, after the new sanctions imposed by the UN on North Korea, their leader Kim Jong-un promised to flood Japan and turn the US into "ash and darkness" and accelerated the testing of nuclear weapons.

US Secretary of State Rex Tillerson exerts pressure on China to preserve the oil embargo, which is quite a powerful tool of pressure. However, China can limit trade relations on an official level, but can not deter smugglers, which hamper the pressure on the Kim Jong-un regime.

This news caused a lively sale of assets and sent investors to search for a quiet harbor.

This time, the markets reacted more calmly to this news and volatility weakened much faster than the previous week.

The dollar again continues the upward movement after corrective movement relative to the Yen.

The pound is traded at the level of annual highs against the dollar and may soon begin the corrective movement, after yesterday's sharp jump. Talks about possible increase in the interest rate in the coming months for a decade sounded on the meeting of the Committee on Monetary Policy. Such data was regarded positively by traders, which gave a sharp push to the British currency. And breaking through the strong resistance levels has reached new annual highs. On Friday we are expecting a fixation of profits and that the price will depart from the current values.

[Superforex]

 

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[Superforex]

Partnership program

SuperForex gives you countless opportunities to make a profit. If trading is simply something you’re not interested in, you can still succeed and make a profit by joining our extensive Partnership Program.

 

The SuperForex Partnership Program is an excellent, risk-free way for customers to develop their own business by recommending our trading services to their contacts. Partners receive an attractive compensation for each successful referral - the highest on the market, in fact, and our Partnership team is here to support you every step of the way

 

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[Superforex]

 

CAD / JPY technical analysis

At the moment, on the chart of H4, we see the return of prices in the framework of the rising channel. Drawn for 28 days.

Given the recently published positive statistics for Canada, we can assume that our upward movement will continue and at the moment we are seeing a correction and revision of the positions by bulls that decided to fix the profit.

On the daily chart, we have not yet seen the figures of absorption and the reversal pattern. But on the chart H4 appeared "shooting star", which can signal us about a possible correction. And the ability to draw a "head and shoulders" figure, with a shoulder level in the area of 88.90.

But looking at the overall schedule and considering the overall movement, the recommendation is to look for points to enter the long position at support levels.

Support and resistance levels

87.72

88.35

88.89

89.50

90.10

90.90

[Superforex]

 

GBP/EUR Technical analysis

The pair is moving within a downward trend.

At this moment the pair is trading in a down trend, slowing down near its resistance levels. We can also note that against the backdrop of strong data, the pair can quickly overcome the nearby resistance levels, as it happened after the press conference of the Bank of England, against which the pound sharply increased its quotes.

Today at 4.30 pm (GMT +3), ECB President Mario Draghi is expected to speak at a press conference. It is necessary to closely monitor the investor sentiment, as many feel that the euro will be pressured and our pair will continue the downward movement.

Our advice for you is to set medium goals and small stop-loss orders.

Support and resistance levels:

0.8880

0.8825

0.8780

0.8715

[Superforex]

 

German Elections 2017

 

Germans will be electing a new government this Sunday - how would that affect Europe?

Recently global news have been almost monopolized by three topics: the tensions between the United States and North Korea, natural disasters striking one after another, and the recent Federal Reserve meeting and talks of monetary policy changes around the world. One could hardly tell that there is something else very important going on this week: parliamentary elections in Germany.

Why aren’t media talking about the German elections? After all, the elections in France this spring, as well as the British preliminary elections received a lot of news coverage when they were happening. The most likely explanation is that the results of the German elections are not likely to be very surprising. The current Chancellor of Germany Angela Merkel still enjoys a stable level of support and is a respected global leader, so most polls indicate that her party would easily win these elections. However, it still is worth it to take a look at German politics, because anything that changes there has the potential to affect the European Union and European markets greatly.

While it is true that Merkel will probably win herself a fourth mandate as chancellor, it is important to note that more parties are expected to make the cut this time. Likely we would see six parties enter the Bundestag. Six voices pulling in different directions is bound to make things more difficult and even slow down Germany, hindering its ability to continue to act as a global political leader.

While immigration seems to be on everybody’s mind and is central to debates between candidates, the number of asylum seekers has dramatically dropped in 2017 compared to previous years. There are other issues on the table such as labour, pensions, education, and more – and they can all affect the way Germany’s economy works – and the way Germany participates in the European Union.

One of the most important things to watch out for in these elections is how the Alternative fuer Deutschland party would do. The far-right political party, often labeled as modern-day nazis, is very conservative and outspoken about its strong stance on immigration: they feel that trying to harbor Muslim refugees and integrate them into European society is a lost cause and oppose the current lax immigration policy of Germany that is championed by Merkel. So far Germany has been the leader in the refugee crisis, encouraging countries to accept and help refugees. This issue is close to the hearts of Germans, as they found themselves in a similar position during World War II – they know what it is like to be a refugee, and they also know what it feels like to be mistaken for a terrorist (or a nazi), just because of your origin. That is why Germany has always maintained that it would extend a helping hand to those in need. However, as the number of terrorist attacks around Europe increases, many people begin to fear for their safety, and other countries, such as France, have called for stricter immigration policies in order to increase safety. This brings us back to the AfD: nazis have not been in power in Germany since World War II, but over the past few years they seem to have gathered a lot of support. It is expected that they may reap as much as 10% of the vote in these elections, securing them a comfortable section of the German Parliament. This means that they would have a say in German politics, and when dissenting views clash in parliament, the stability of a country suffers, as does its ability to act (just look at how poorly the UK is handling Brexit, simply due to a lack of majority in parliament).

Overall, change is coming to Germany, even if Merkel is re-elected. And with that, change will invariably come to the eurozone as well.

[Superforex]

 

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[Superforex]

 

Oil Prices Recovering

Analysts feel that for the first time in two years oil prices are on their way to recovery.

Last week the prices of oil (and other commodities) suffered somewhat due to a strengthening of the American dollar caused by last week’s Federal Reserve policy meeting. However, despite the noticeable decrease, the price of oil still didn’t fall to dangerous levels and remained relatively stable.

Now analysts are saying that the oil market is heading towards a stabilization, and is perhaps approaching the resolution of the oil crisis of the past two years. This year OPEC as well as non-members who are oil exporters such as Russia have managed to cut down their production dramatically, which helped alleviate the oversupply on the market for crude oil. As a result, the price of oil went up by 15% in recent months.

American crude oil is currently at around $50.51, while London brent crude oil is trading around the $56 mark. It’s worth noting that oil extraction in the United States was previously affected by a series of natural disasters that hit the North American coastlines.

[Superforex]

 

EUR/SGD: Fundamental Review & Forecast

 

The results from the elections in Germany negatively impacted the EUR, though it still has a potential for stabilizing.

Starting from Monday, September 25 the euro came under pressure due to the election results in Germany. The ruling party together with Angela Merkel won the election, but with the lowest result since 1949. They are not able to form a coalition easily, as it happened at previous elections. However, other parties also cannot form a coalition themselves, which is why nobody doubts that Angela Merkel will again be Chancellor. Nevertheless, it is expected that negotiations on creating a coalition will be difficult because the former coalition partners do not want to continue their cooperation. In any case, the opposition will be stronger than ever, so investors prefer at the moment to invest in other assets.

On the other hand, the Singaporean dollar has been supported this week due to the recent data about the volume of manufacturing production in August, which exceeded the forecasts of investors both in annual and monthly terms, although the growth has been less rapid than in the previous month and amounted to +19.1% against the expected 14.2% YoY.

On the EUR/SGD chart we can see the formation of a weak downward trend which forms after a steady flat period. The support line shifts down, but now we have also a high probability of a price correction. After the market reacted to the elections in Germany and took into account the probability of political uncertainty in Germany, the euro still has a potential for stabilizing in price and strengthening. Market volatility will be lower next week, after an intense news period. In the near future we can expect data about the business activity index (PMI) from Singapore and about the volume of retail sales in the EU.

In this situation the most optimal course of action would be the deals to BUY in short-term trading, which is confirmed by the MACD oscillator. Nevertheless, the probability of the continuation of the new downtrend in favor of the SGD is preserved in the medium term.

[Superforex]

SuperForex Seminar in Kuala Lumpur

Less time is left until our event in Kuala Lumpur takes place! Our notable speakers have taken great care in preparing talks which will suit all guests, no matter whether you are a professional trader or if you just heard about the Forex market last week.

 

We have prepared an exciting program for this event and now are ready to reveal some information about the topics you will be able to hear and learn about. These include:

 

· Forex Market Outlook

· Money Management

· Market Manipulation

· Partnership with SuperForex

· Fundamental and Technical Analysis

· Actual Support & Actual Resistance

 

And, of course, much more!

 

October 28, 12:00 - 17:00 – that is the time to gain insight about the way millions of people around the world make money, and to improve your knowledge of trading overall.

 

https://youtu.be/0UprcUbgdC4

 

[Superforex]

 

Trump`s tax reform

 

How does this new suggested legislation affect the US economy?

This week we chose to return our discussion to the political situation in the United States where we have another major news story: the new tax plan proposed by President Trump’s administration. This story is significant particularly because this is barely the second major piece of legislation that Trump’s office has produced. The first one was the now infamous health care bill which died a slow death in Congress, repeatedly. The failure of the administration then drove investors to doubt the stability of Trump’s mandate, which was a major contributor to the record lows of the American dollar registered up until last week. Can this new bill on taxes have the same impact? Let’s see!

First off, we need to acknowledge how important tax policy was to Trump’s presidential campaign. He had a few key issues that were the highlights of his rhetoric: immigration, repeal Obamacare, and a better tax policy, among a few that stand out the most. His attempts to curb immigration through travel bans have been met with major disapproval, his plans to repeal or replace Obamacare have failed, and now his proposal on tax policy is met with a lot of doubt before it’s even fully-defined. Trump’s previous failures managed to shake the dollar, so it is reasonable to argue that if his tax bill is a fiasco, he might hurt the American currency again.

The plan that Trump’s administration announced on Wednesday can hardly be called anything, according to experts. It contains vague outlines of the administration’s goals while it lacks clear explanations of how they propose to achieve them. The actual work on making this plan more meaningful still lies ahead and may take months, according to CNN. What we know for certain is that the plan will decrease the top income tax from 39.6 to 35%, giving a major advantage to the richest Americans. The proposal would suggests an increase of the ratio of income that is exempt from taxes, which would mean a lower tax for every individual. While this sounds great for people’s personal incomes, it would make a major dent in the budget of the United States, due to trillions of dollars of potential tax revenue not being collected.

Trump’s tax plan doesn’t provide any guidance on how the budget shortage will be compensated under such a policy. It also doesn’t prove that this new tax system won’t place a greater burden on the middle class, which Trump has stated he wants to protect. It very clearly benefits the rich, while it’s murky (at best) in terms of all other income groups in the United States.

The plan also suggests a simplification of the tax system by collapsing the current seven-step policy (where seven different income groups are taxed a different percentage, between 10% and 39.6% for the poorest and richest incomes, respectively). The new system would have just three groups: 12%, 25%, and 35%, but the income brackets for each tax rate are still unknown. It’s also interesting that some corporate taxes are proposed for the 25% rate instead of the 35%, which may cause a lot of tax fraud.

Considering how much information is missing from the proposal, it’s still very difficult to dissect it. However, Republicans themselves do not agree on many of these issues, not to mention that Democrats are not likely to support anything that cuts the taxes of the wealthy, so this piece of legislation is likely to have trouble passing through Congress – if it is ever completed.

Right now there might not be too much to this story as we still need to hear more concrete points about the tax bill. However, it’s worth it to stay tuned and watch out for further instability within the United States. They are already in the spotlight due to tensions with North Korea – any internal disorder would only worsen their economic climate and weaken the dollar.

[Superforex]

Currency Converter

 

For your ultimate convenience we have implemented a new kind of calculator that allows you to instantly convert various sums from one currency into another. Simply select the two currencies you wish to exchange and the amount of the base currency. Our calculator receives a live feed of quote updates, so the calculations are always based on the most current exchange rate. You can also preview currency pair history and compare prices on this page. https://superforex.com/currency-converter

 

[Superforex]

SuperForex at ShowFX Conference in Singapore

We would like to cordially invite you to join us for a productive day of learning and networking at the annual ShowFX Forex conference which will be held on October 21 in Singapore, the finance hub of East Asia. The ShowFX Conference in Singapore aims to increase the professionalism of traders and unite in one place all members of the Forex community: brokers, trading experts, and, of course, traders.

Don't miss the chance to discuss trading with SuperForex analysts and become a SuperForex Trader, or to speak about our partnership conditions with our Business Development team.

If you want to become a participant of the conference, please indicate your desire by contacting our support team in any way convenient for you.

Our website: https://superforex.com

 

You’ll also have the unique chance to participate in a lottery and win up to $500. Other amazing offers are also awaiting you in Singapore. We'll be glad to answer all your questions. See you there!

 

https://youtu.be/TSrm_VTmFK0

 

[Superforex]

 

USD/MXN: Short Review & Forecast

 

The USD has strengthened against most currencies based on positive economic news and increased probability for a new rate hike this year.

The U.S. dollar strengthened against most currencies this week. At the same time, the tragic event in Las Vegas wasn't noticed by investors amid positive economic news, which increases the probability of a rate hike in the United States. FED Chairman Janet Yellen also said that the Central Bank is not going to refuse one more rate hike which was scheduled this year. In addition, the dollar received support from the tax reform which was promised personally by Donald Trump. Also, the USD has been supported given the probability of a change of the head of the Federal Reserve. Analysts forecast that Kevin Warsh will be chosen as new FED Head. It's known that he is a supporter of a strong dollar and tight monetary policy. Consequently, there are perspectives for further strengthening of the dollar.

 

Data about the Mexican economy also pleased investors this week. The business activity index amounted to 52.8 points in September, surpassing investors' expectations. This is a record level in recent years, but the decision of the Central Bank of Mexico to keep the rate at the same level didn't support significantly the MXN compared to the strong dollar. So, the rates continue in the frames of a downward trend, although the resistance line has been gradually shifting upwards for the last several months, indicating a weakening of the current trend. However, at the moment the most optimal would be the deals on the trend, which is confirmed unanimously by the MACD and Stochastics oscillators.

[Superforex]

SuperForex Seminar in Kuala Lumpur

 

Less time is left until our event in Kuala Lumpur takes place! Our notable speakers have taken great care in preparing talks which will suit all guests, no matter whether you are a professional trader or if you just heard about the Forex market last week.

 

We have prepared an exciting program for this event and now are ready to reveal some information about the topics you will be able to hear and learn about. These include:

 

· Forex Market Outlook

· Money Management

· Market Manipulation

· Partnership with SuperForex

· Fundamental and Technical Analysis

· Actual Support & Actual Resistance

 

And, of course, much more!

 

October 28, 12:00 - 17:00 – that is the time to gain insight about the way millions of people around the world make money, and to improve your knowledge of trading overall.

 

https://youtu.be/0UprcUbgdC4

 

[Superforex]

 

Catalonia: Spanish or Independent?

Last week's referendum has brought new tensions to Europe.

The European markets shook this week, as last weekend Catalonia, an autonomous area comprising four provinces in northeastern Spain, held a referendum and voted in support of its independence from Spain. This week we would take a look at what happened and also where that leaves us now.

To begin with, the political status of Catalonia has long been a pressing concern on the Iberian peninsula. The region has long claimed it is a distinct nation, owing to historical evidence that up to the 16th century, it used to be separate from Spain. In modern history, Catalonia has fought for its independence all throughout the 20th century: it first received a status as an autonomous region within Spain in 1932, which was taken away during Franco’s rule. The autonomous status of Catalonia was restored in the 1970s when Spain returned to democratic rule. Catalans are allowed to speak their own language and have their own government, though officially it is subordinate to the Spanish government.

Over the last few years tensions regarding Catalan nationality have risen, culminating in last week’s referendum. Spain is naturally opposed to losing land and people which have been part of its territory over the last five centuries. Catalonia also happens to be a fairly rich territory. In general, if Catalonia declares independence, this would be perceived by Spanish authorities as an attempt to disrupt Spain’s territorial integrity and could even lead to (civil) war.

Is Catalonia independent? Right now, no. The referendum’s goal was to assess whether the Catalan population wants to be independent from Spain. They voted 90% in favor, but it is up to the Catalan government to decide whether to act on this vote or not. The referendum itself caused violent clashes with the Spanish police, so the Catalan authorities might bide their time, working out a way to avoid future conflict. The Catalan president Carles Puigdemont has spoken about involving international diplomats to help hold peaceful negotiations.

Naturally, the seriousness of this situation has caused ripples through the financial markets. Spanish stocks lost 2.7% this week, while banks that are based in Barcelona (the capital of Catalonia) were a whole 7% down. Spanish bonds have also decreased.

So, what happens now? Some analysts believe that Catalonia is not fully prepared for independence, in terms of its political organs and readiness for policy making. The region has relied on Spain, and by extension, the European Union for many of its day-to-day activities, so severing that relationship will be hard. If Catalonia declared independence without Spain’s approval, it would find itself in a tight spot. Spain’s economy will also suffer immensely, and future clashes and protests will hinder business activity. Investors could give up on Spanish assets altogether, which could plunge the government into a recession.

It is more likely that there will be a negotiation, which could win Catalonia additional levels of control over its activities, but would still not be a complete independence from Spain.

Because of the current protests and blocked roads, it has been impossible for some businesses to operate as usual. If things continue to be so chaotic and uncertain, Spain’s economic growth would stall.

Right now all eyes are on the Iberian Peninsula. If the King of Spain agrees to meet for peaceful negotiations, the pressure would ease off Spanish assets. However, if Catalonia moves ahead and declares independence, we could see a new crisis in Spain, and consequently Europe.

[Superforex]

 

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