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SuperForex – a Global Forex Broker
#1
Superforex is a brokerage company with worldwide operations. Since you may not have heard about is yet, here is a proper introduction:

SuperForex is an internationally regulated brokerage house licensed by the International Financial Services Commission (IFSC). Our business is dedicated to providing clients from more than 100 markets around the world with a large selection of financial instruments for algorithmic or self-trading, money management and investment, so they can trade on the Forex market. We are also the winners of Forex Report’s Best Newcomer award for 2015 and  the Best Forex Broker in MENA region for 2016.

At SuperForex we offer you a wide range of trading instruments. By opening an account with us, you will be able to use more than 300 trading tools, such as currency pairs (including exotic pairs), CFDs on American shares, CFDs on precious metals, Oil, Futures on agriculture and world indices (Dow Jones, Nasdaq, DAX, Nikkei), among others. 


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#2
CL/WTI: Short Review & Middle Term Forecast

After the depressed period we have an upward trend again and preconditions for further growth, given the long-term perspectives for increasing demand.

Between May and the end of June the market was depressed. Oil fell in price from $51 to $42. It seemed that the falling of oil prices is unstoppable. The oversupply of crude oil, the increase of oil extraction volumes even amid OPEC countries and the growth of oil reserves in the United States created a desperate situation, whereby market participants were unable to control the market and achieve a balance between demand and supply.

However, in July oil began to recover due to the reduction of oil stocks in the United States and the reduction of drilling activity. In addition, the oil recovered in price amid the long-term forecasts which show perspectives for growth in the demand for oil, although some analysts disagree with that. Nevertheless, given the recent data such as the index of business activity in China from Caixin, which marks the increasing of business activity, there are good preconditions for an increasing demand for raw materials in China. The decreasing in oil reserves in the United States will ease the pressure on the oil market for the next few months.

CL/WTI, H4
In the near future the market will focus on the upcoming OPEC meeting, which will take place on August 7-8. The volatility over the past few months has remained very high, but it's decreasing. We can expect for sure a continuation of the rates in the frames of the current uptrend. After the price correction, prices may recover to the level of 50-51 dollars. The Stochastic oscillator also indicates a good time to open the deals to BUY on the trend.

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#3
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Expecting Medium term Bullish target 48.00. Down trend Channel has been broken and taken support again.
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#4
British Struggles

The fallout from Brexit is a deteriorating economic climate in the UK, and the British pound shows it.

Despite the unexpected strength of economic growth in Europe, the struggles of the United Kingdom continue. After the devastating losses incurred immediately before and after the Brexit referendum vote last summer and the disastrous elections results earlier this year, Britain and its currency still find themselves in a tight spot.

Yesterday we heard from the Bank of England, who this time announced that they are taking a more pessimistic prognosis of the UK’s economy and downgraded their forecasts for economic growth for 2017 and 2018 for the second time this summer. As a result, the British pound sterling suffered losses versus the American dollar of almost 1%.

The Bank of England’s stance is likely rooted in the disappointing wages. Since the pound slumped, goods imported to the United Kingdom naturally cost more for Brits, essentially driving their purchasing power lower. The BoE expects this problem to worsen in the future and is somewhat apprehensive regarding wage growth.

Bank of England governor Mark Carney expressed a concern for businesses who find it additionally difficult to invest amid the political struggle inside of the United Kingdom and the problematic negotiations with the European Union regarding Brexit.

The United Kingdom is currently lagging behind its European counterparts, and Carney expects an even slower economic growth. Needless to say, the bank chose not to increase interest rates yet, in hopes of stimulating the economy.

Despite the political discord within the United Kingdom due to Theresa May’s party failing to achieve a definitive majority in the preliminary parliamentary elections she called and the lack of strong British leadership that resulted from that, the UK has proceeded with the EU negotiations. However, even though negotiators have met several times now, not much has been decided, especially since the EU is putting pressure on the UK to meet its critical demands regarding immigration and payment.

Overall, the situation seems really unclear right now. British politicians are not helping much, as they provide contradictory statements from time to time, indicating the British government is not on the same page. The British pound has already dropped 13% since the Brexit vote, and due to the lack of proper leadership and the absence of clarity regarding the negotiations with the European Union we expect the GBP to continue its decrease versus major currencies.

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#5
EUR/JPY Technical Outlook & Daily Chart

The EUR/JPY pair recorded its highest level in 17 months and we expect new highs.

The EUR/JPY currency pair rose last week to gain more than 130 pips and break the key resistance level at 130.64. Then, the currency pair doped on Friday after the US jobs report which showed an increase of 27 000 compared to 209k in July, so now the pair has returned back to trade above the resistance level again.

The EUR/JPY pair has been trading inside a price channel since last April and after it broke July’s high to record the highest level in 17 months it is expected the pair will make new highs this month. The EUR/JPY is still trading above the moving average which is a support level for the prices and the MACD indicator supports our positive vision too.

The Next Few Days

From this simple analysis of the pair we can buy it at the current level 130.73 and keep our first target at 132.12, which is 161.8% from the short correction wave last month; we should place our second target at 134.14 and keep our stop-loss level once the pair breaks the channel down because it will change the trend if it did. If the pair breaks the support level 128.64 down we have to sell the pair and keep the take profit level at 125.50.

This week the market is poor in terms of hot economic news from the European Union or Japan. On Friday Japanese banks will be closed for Mountain Day.

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