Tradeo ceased offering trading services last year in May. Trading and ancillary will not recommence, and the brand/platform will be permanently discontinued.
For the clients with remaining balances, kindly send a withdrawal request through your login or via chat or email. If there are any queries or concerns relating to your account or any other matter, please email us at [email protected]
EUR/JPY gained 0.11% on Monday, ending a six-day losing streak, after nearing the uptrend at 124.34. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, recommends raising the stop to 124.30, partially cover 126.75 and exit the remainder 127.50.
“EUR/JPY has slipped back to and so far held over the four-month uptrend at 124.34. This suggests that the market remains capable of retesting the 126.75 peak from mid-August and the 2014-2020 resistance line lies at 127.53. A resistance line only connects two points and we have no strong bias on whether this will hold or not.”
“Please note that the intraday Elliott wave count is now negative and this implies that the four-month support line at 124.34 is exposed. Failure here would target the January high at 122.88. The latter guards the July low at 120.28.”
“Above the 127.53 downtrend we have the 200-month ma at 130.57.”
Dax 30 September beat key resistance at 12870/900 for buy signal targeting 12960/990 & last week’s high at 13040/050, before reaching 13194 as I write early this morning.
Dax beats last week’s high at 13040/050 for further bullish signals as we look for a test of to July recovery high at 13300/304. Obviously a break higher is a buy signal targeting 13400/420 & 13490/500. Eventually we look for 13550 & 13620/640.
Important support at 13100/13050 but longs need stops below 12990.
EURUSD outlook negative so we are looking to sell in to a bounce again today. Minor resistance at 1.1800/10 being tested as I write, but probably a better selling opportunity at 1.1830/40 . Unlikely but a break higher meets strong resistance at 1.1870/80.
I think eventually we will turn lower targeting 1.1755/50 & 1.1730/20, perhaps as far as strong support at 1.1660/50 this week.
The Company gives no representation, warranty or guarantee as to the accuracy, correctness or completeness of this information. The information contained in this market review should not be construed in any way, as containing investment advice and/or a suggestion and/or solicitation for any trading activity and financial transaction.
Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance.
Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.9% % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.