Bearish drop?AUD/CAD has reacted off the pivot and could fall to the overlap support.
Pivot: 0.91545
1st Support: 0.91123
1st Resistance: 0.91682
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Aud
Bearish reversal?AUD/NZD is rising towards a resistance level which is an overlap resistance that lines up with the 88% Fibonacci retracement and could potentially reverse from this level to our take profit.
Entry: 1.09907
Why we like it:
There is an overlap resistance level which aligns with the 88% Fibonacci retracement.
Stop loss: 1.10273
Why we like it:
There is a pullback resistance.
Take profit: 1.09378
Why we like it:
There is an overlap support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
AUD/USD Surges as US Inflation Cools, Setting for Bullish ContAUD/USD Surges to 0.6670 as US Inflation Cools, Setting the Stage for Bullish Continuation
The AUD/USD pair has jumped higher to 0.6670 following an expected cooling in US inflation. This move aligns with our technical analysis, which anticipated a potential rebound in the Fibonacci retracement area, triggering a new bullish impulse. We also observed a divergence on the RSI within the H4 timeframe, which is situated inside a bullish channel.
The decline in US inflation data is expected to spur expectations for early rate cuts by the Federal Reserve (Fed), creating an unfavorable scenario for the US Dollar. Consequently, the US Dollar Index (DXY) has turned negative, dropping to 105.80.
According to the CME FedWatch tool, the central bank sees the September meeting as the earliest point for pivoting to policy normalization. The tool indicates that the Fed is expected to deliver two rate cuts this year. However, contrary to market expectations, Fed officials have forecasted only one rate cut this year.
Considering all the data and analysis, we are anticipating a possible bullish continuation for the AUD/USD pair.
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Heading into overlap resistance, could it reverse?AUD/CHF is rising towards the pivot which acts as an overlap resistance and could potentially reverse to the 1st support.
Pivot: 0.60166
1st Support: 0.59518
1st Resistance: 0.60396
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish rise?GBP/AUD has just bounced off the pivot which acts as a pullback support and could potentially rise to the 1st resistance.
Pivot: 1.8916
1st Support: 1.8869
1st Resistance: 1.9060
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Reacting off pullback resistance?The Aussie (AUD/USD) has reacted off the pivot which has been identified as a pullback resistance and could fall to the 1st support.
Pivot: 0.6683
1st Support: 0.6638
1st Resistance: 0.6701
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bias still on the upside for UJ,can look at AJ too...Hello fellow traders , my regular and new friends!
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AUDCAD triangle Hello traders,
A triangle has been formed in the chart! This is the path suggest for the pair. However Due to news release of Canada, there might be some surprises in the path, I have my positions open with lower volume and will move my SL to just the point of news release.
Any breaks out of triangle would make new setups available.
Best regards, Ali
Heading into overlap resistance, could it reverse from here?EUR/AUD is rising towards the pivot and could reverse to the pullback support.
Pivot: 1.61575
1st Support: 1.60790
1st Resistance: 1.62133
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
AUD/USD - H1 Chart - Wedge BreakoutThe AUD/USD FX:AUDUSD pair on the H1 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 0.6644, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 0.6611
2nd Support – 0.6590
Stop-Loss: To manage risk, place a stop-loss order above 0.6663. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Bearish drop?The Aussie (AUD/USD) is reacting off the pivot which has been identified as a pullback resistance and could drop to the 1st support.
Pivot: 0.6651
1st Support: 0.6630
1st Resistance: 0.6667
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?AUD/CAD is rising towards the pivot which has been identified as a pullback resistance and could drop from this level to the pullback support.
Pivot: 0.91309
1st Support: 0.90987
1st Resistance: 0.91553
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
If not GDP, then maybe the PCE will force it out of the squeezeWe are currently seeing EASYMARKETS:AUDUSD struggling to find a clear direction, as it continues to sit between two tentative short-term trendlines.
Waiting for the US GDP and PCE figures to do something.
#audusd
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short on AudCadThe price has formed a lower low, and in the continuation of the downtrend, it is also forming lower highs. The point to note is that we have an engulfing pattern at the bottom, and now we have reached a fresh supply zone where a low-risk short position can be taken with a risk-to-reward ratio of 2.
Trade simple.
GBP/AUD has a strong bearish momentum, could it fall further?Price is currently reacting off a resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could fall to our take profit.
Entry: 1.90535
Why we like it:
There is a pullback resistance level which lines up with the 23.6% Fibonacci retracement.
Stop loss: 1.91057
Why we like it:
There is a pullback resistance level which lines up with the 38.2% Fibonacci retracement.
Take profit: 1.89455
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
AUD/USD to Surge: Exploiting Soft CPI and Fed Rate Cut DynamicsHello Traders,
In today's trading session, we are closely monitoring AUD/USD for a potential buying opportunity around the 0.66100 zone. AUD/USD is currently trading in an uptrend and is in a correction phase, bringing it closer to the key support and resistance area at 0.66100. This level has historically served as a significant pivot point for price action, making it an attractive entry point for long positions.
Fundamentally, recent developments have bolstered our outlook for AUD/USD. Yesterday's CPI data came in softer than expected, indicating that inflationary pressures are lower than anticipated. This softer inflation data suggests a more subdued economic environment, reducing the urgency for aggressive monetary tightening by the Federal Reserve.
In response to the soft CPI data, the Federal Reserve cut interest rates during the latest FOMC meeting. This dovish move is expected to weigh heavily on the USD, as lower interest rates typically lead to a weaker currency. Consequently, a weaker USD enhances the appeal of the AUD, supporting our bullish view on AUD/USD. Given these fundamental factors, the 0.66100 zone presents a strategic opportunity for buying AUD/USD.
Trade safely,
Joe
Bullish rise?AUD/CHF is falling towards the pivot and could bounce to the overlap resistance.
Pivot: 0.59186
1st Support: 0.58883
1st Resistance: 0.59720
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
AUDUSD Medium-term sell signalThe AUDUSD pair has been trading sideways since the May 16 High, supported by the 1D MA50 (blue trend-line). The dominant pattern has been a Triangle going back to the October 13 2022 market bottom and the current consolidation is taking place right at the top (Lower Highs trend-line) of the pattern.
As you can see, this is quite similar to the Q2-Q3 2023 price action, which after the Triangle top rejection, it declined below the 1.236 Fibonacci extension. Even the 1D RSI sequences between the two fractals look similar. As a result, we turn bearish on this pair, targeting 0.63450 (Fib 1.236 ext).
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EURAUD is approaching an important resistance zoneHey Traders, in today's trading session we are monitoring EURAUD for a selling opportunity around 1.61700 zone, EURAUD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.61700 support and resistance area.
Trade safe, Joe.
Bullish bounce off overlap support?GBP/AUD is falling towards a support level which is an overlap support that aligns wit the 78.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.90387
Why we like it:
There is an overlap support level which aligns with the 78.6% Fibonacci retracement.
Stop loss: 1.89407
Why we like it:
There is a pullback support level.
Take profit: 1.91601
Why we like it:
There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?Aussie (AUD/USD) is rising towards the pivot which acts as a pullback resistance and could reverse to the 1st support.
Pivot: 0.6699
1st Support: 0.6631
1st Resistance: 0.6735
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
AUD/USD Starts New Week with Positive Tone,Rebound ExpectedThe AUD/USD pair kicked off the new week on a positive note, hinting at a potential rebound from a significant support area that aligns with the 78.6% Fibonacci retracement level. This comes after a bearish reversal observed last week, which saw the pair correcting from its previous bullish momentum.
Recent Trading Activity
Last week, we successfully closed a profitable position by capitalizing on the bullish impulse. Our detailed analysis and forecast, available on our page, accurately predicted the upward movement, allowing us to ride the bullish wave to its peak.
Technical Analysis
Currently, the AUD/USD is showing signs of a potential reversal from the support area. The 78.6% Fibonacci retracement level, known for being a strong support level, adds further weight to this potential rebound. This Fibonacci level is often seen as a critical point where prices tend to find support and reverse, especially after a significant bearish correction.
Market Sentiment and Trend Analysis
Analyzing the market sentiment, an upside break this week appears marginally more likely than a downside break. This outlook is based on the observation that the trend prior to the formation of the current range was bullish. Typically, when a range forms after a strong trend, the breakout tends to follow the direction of the initial trend. Therefore, the probability of an upward breakout remains slightly higher.
Trading Strategy
Given the technical indicators and market sentiment, we have decided to open a bullish setup. This setup offers a positive risk/reward (R/R) ratio, making it a viable long-term trade. By positioning ourselves for a potential rebound, we aim to capitalize on the expected upward movement while managing our risk effectively.
Bullish continuation?The Aussie (AUD/USD) has broken out of a resistance level and could potentially pull back to the pivot and bounce to the 1st resistance.
Pivot: 0.6641
1st Support: 0.6592
1st Resistance: 0.6698
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.