Date | Rate | Change |
---|
EUR/GBP trims its intraday losses and rises to near 0.8590 during the early European session on Friday. The cross remains in negative territory despite positive Retail Sales data from the United Kingdom (UK).
UK Retail Sales (Month-on-Month) for February showed no growth, printing a reading of 0.0%, compared to the expected decline of 0.3% and the 3.4% growth recorded in January. However, Core Retail Sales, which exclude auto and motor fuel sales, increased by 0.2% month-on-month, surpassing expectations of a 0.1% decline and maintaining the 3.2% growth seen in January.
BOE Governor Andrew Bailey has reiterated that rate cuts this year are within reason, stressing that all meetings are subject to consideration, with decisions made anew each time. He emphasized the importance of having confidence in the direction of wage growth and stated that waiting for inflation to drop to 2% before contemplating rate cuts is unnecessary. Bailey also expressed optimism about recent economic developments, viewing them as positive news.
On the other hand, the Euro faced downward pressure on the latest Purchasing Managers Index (PMI) survey by HCOB on Thursday revealing that the Eurozone Manufacturing PMI for March was 45.7, lower than the previous reading of 46.5, and below the consensus forecast of 47.0. However, the Services PMI improved to 51.1 in March from 50.2 in February, surpassing the estimated 50.5. The Eurozone PMI Composite rose to 49.9 in March, compared to the expected 49.7 and the previous reading of 46.3.
On Friday, the German Import Price Index (Month-on-Month) for January was reported as flat at 0.0%, contrary to the expected decline of 0.3% and the previous decline of 1.0%. The year-over-year figure indicated a decline of 5.9%, which was better than the expected decline of 7.4% and the previous decline of 7.0%.
EUR/GBP is trading up by almost three tenths of a percent on Thursday in the 0.8560s after the outcome of the Bank of England (BoE) meeting and overall weaker-than-expected British PMI data, weighed on the Pound Sterling (GBP) side of the pair.
The Bank of England left interest rates unchanged at 5.25% at its meeting on Thursday but the distribution of votes changed to show none of the officials voting for an interest rate hike. This was a change from the one who voted for a hike at the last meeting. Instead the majority of eight board members voted for no-change – one more than the previous meeting – and only one voted for a cut in interest rates, as before.
The Pound Sterling was hit by the lack of any BoE officials voting to raise interest rates, since higher interest rates are a positive factor for currencies because they attract greater inflows of foreign capital.
Both Eurozone and UK PMI data for March showed overall cracks in the outlook. In the case of the UK, the S&P Global/CIPS Composite PMI came out lower-than-expected at 52.9 when 53.1 had been forecast from 53.0 previously.
UK Services PMI undershot expectations of remaining at 53.8, dropping to 53.4. Manufacturing actually beat expectations at 49.9 when 47.8 had been forecast from 47.5 previous.
In the Eurozone, the HCOB Composite PMI rose to 49.9 thereby beating estimates of 49.7 and the previous February reading of 49.2.
Eurozone HCOB Manufacturing PMI in March fell to 45.7, declining deeper into contractionary territory (below 50) than had been predicted. Economists had estimated a more buoyant rise to 47.0 from 46.5 previously.
Euro area HCOB Services PMI rose to 51.1 in March, beating estimates of 50.5 from 50.2 previous, according to data from S&P Global.
Europe's economic powerhouse Germany, meanwhile, revealed a similar trend, with German HCOB Manufacturing PMI declining to 41.6 which was below estimates of 43.1 and February's 42.5. It too showed unexpected gains, however, in both Services component and the Composite number.
The EUR/GBP is currently experiencing mild gains, trading at 0.8541 after peaking at a high of 0.8560. Markets are digesting British inflation data from February and gearing up for the Bank of England’s (BoE) decision on Thursday. In the meantime, monetary policy divergences between the BoE and the European Central Bank (ECB) give the GBP an advantage over the EUR/p>
The UK saw a softening in February CPI figures, with headline inflation at 3.4% YoY compared to January's 4.0%, and core inflation at 4.5% YoY down from 5.1%. Despite expectations, these numbers were slightly lower, marking the lowest since September 2021 but still above the 2% target. With the Bank of England's decision imminent, a policy hold is anticipated. However, given persistently high services inflation at 6.1% YoY, the BOE may take time to loosen policy. Market expectations of a 25 bp rate cut in August followed by two more by year-end are fully priced in. On the other hand, the ECB easing cycle is seen starting in June, followed by cuts in September and October. Investors see some chances of an additional cut in December as well.
On the daily chart, the Relative Strength Index (RSI) for the EUR/GBP pair resides in negative territory, suggesting a slight bearish momentum. Despite brief transitions into positive territory, the RSI has reverted to negative levels in recent sessions, revealing that sellers maintain dominance. The green bars on the Moving Average Convergence Divergence (MACD) histogram reflect positive momentum, albeit flat, potentially indicating a weak presence of the bulls.
Regarding the overall trend, the pair is trading below its 20, 100, and 200-hour Simple Moving Averages, which gives arguments for a bearish outlook
The EUR/GBP cross attracts some buyers on Wednesday and jumps to a fresh daily peak, around the 0.8555-0.8560 region after the release of the UK consumer inflation figures. Spot prices, however, lack follow-through and remain confined in a familiar trading band held since the beginning of the current month.
The UK Office for National Statistics (ONS) reported that the headline CPI rose 0.6% in February vs. a 0.6% fall recorded in the previous month and consensus estimates. Meanwhile, the yearly rate decelerated more than expected, from 4.0% in January to 3.4% during the reported month – marking its lowest level since September 2021.
Adding to this, the Core CPI fall from the 5.1% YoY rate to 4.5% in February, also missing expectations. This comes on top of a technical recession in the UK during the fourth quarter and raises bets for an early rate cut by the Bank of England (BoE), which, in turn, undermines the British Pound (GBP) and provides a modest lift to the EUR/GBP cross.
The UK inflation, however, is still much above the BoE’s 2.0% target, which, in turn, helps limit losses for the GBP. The shared currency, on the other hand, remains depressed in the wake of expectations that the European Central Bank (ECB) may start cutting interest rates in June. This further contributes to capping gains for the EUR/GBP cross.
Moreover, traders seem reluctant to place aggressive directional bets and prefer to wait on the sidelines ahead of the BoE policy meeting on Thursday. Hence, it will be prudent to wait for a sustained breakout through the short-term trading range before positioning for an extension of the recent goodish rebound from the 0.8500 psychological mark.
The EUR/GBP pair jumps to 0.8550 in the European session on Tuesday. The asset rises ahead of key United Kingdom economic events this week. The Pound Sterling will be influenced by the Bank of England’s (BoE) interest rate decision, which will be announced on Thursday.
The BoE is widely anticipated to keep interest rates unchanged at 5.25% as inflation is far from the desired rate of 2%. Investors await fresh cues about when the BoE could begin reducing interest rates. Currently, market participants anticipate that the BoE will announce their first rate cut in the August policy meeting after maintaining a hawkish stance for more than two years.
BoE policymakers have been reiterating that rate cuts would be appropriate only if they are convinced that inflation will return sustainably to the desired target of 2%.
Before the BoE policy, investors will focus on the UK Consumer Price Index (CPI) data for February, which will be published on Wednesday. The annual headline inflation is forecast to have grown at a slower pace of 3.6% against 4.0% in January. In the same period, core inflation that excludes volatile food and energy prices is forecast to have decelerated to 4.6% from 5.1%.
Meanwhile, the Euro rises on upbeat Eurozone ZEW Survey—Economic Sentiment. The economic data showcases institutional investors' sentiment towards the economic outlook improving significantly to 33.5 from expectations of 25.4 and the former reading of 25.0.
Going forward, the Euro will be guided by market expectations for the European Central Bank's (ECB) rate cuts. Investors expect the ECB to start reducing interest rates by summer.
Economists at ING analyze Pound Sterling (GBP) outlook ahead of Thursday’s Bank of England (BoE) decision.
February’s CPI figures released on Wednesday could have a big say in what the BoE announces on Thursday. The focus will remain on services inflation, which we expect to decelerate but remain elevated at 6% (also in line with the Bank’s forecasts).
After dropping its hawkish tone in February, we don’t see the Bank being in any rush to take further steps to the dovish side of the spectrum just yet, at least barring a major downward surprise in CPI on Wednesday.
Ultimately, the Pound may absorb any further recovery in the Dollar better than most other currencies, and we see EUR/GBP stabilising around the 0.8500 or trading closer to the big 0.8500 support in the short term.
EUR/GBP advances for a second consecutive session, trading higher around 0.8550 during the Asian session on Monday. The Consumer Inflation Expectations, released by the Bank of England (BoE) on Friday, increased by 3.0%, although slightly lower than the previous uptick of 3.3%.
The softer inflation data has spurred speculation in markets about a potential Bank of England (BoE) rate cut in June, which could weaken the Pound Sterling (GBP) and provide support for the EUR/GBP cross.
Moreover, the Rightmove House Price Index (MoM) for March surged by 1.5% on Monday, exceeding the previous increase of 0.9%. Additionally, the annual report showed a rise of 0.8% compared to the previous 0.1%.
However, the European Central Bank (ECB) maintained borrowing costs at record highs during its March meeting, though policymakers hinted at discussions regarding a potential rate cut. This dovish stance from ECB officials could present additional challenges for the Euro. François Villeroy de Galhau, an ECB policymaker, suggested the likelihood of a rate cut in the spring.
Furthermore, ECB policymaker Pablo Hernandez de Cos stated on Sunday that the central bank opted to keep borrowing costs at record highs this month. He also indicated that the central bank might commence interest rate cuts in June following a decrease in Eurozone inflation.
On Monday, market attention will be on the Eurozone Harmonized Index of Consumer Prices (HICP) and Trade Balance. Looking ahead to Tuesday, traders will closely monitor various market indicators from the United Kingdom (UK), including the Consumer Price Index, Producer Price Index, and Retail Price Index.
The Bank of England will release its Inflation Attitudes Survey on Friday. Economists at ING analyze Pound Sterling’s (GBP) outlook.
Barring major surprises today, we think EUR/GBP will struggle to find direction into the CPI and BoE events next week.
Recent price action showed that levels close to 0.8500 are stretched to the downside, and the relatively unchanged short-term rate differential does not argue for any break lower.
When we look at the Sonia curve, however, 62 bps of easing by year-end still probably looks too conservative: our economist’s call is for 100 bps, leaving a considerable gap to be covered on the dovish side and giving us reasons to think we’ll see a higher EUR/GBP by year-end.
The EUR/GBP pair bounces back strongly from 0.8530 in the European session on Friday. The cross rebounds even though market participants anticipate that the Bank of England (BoE) will start reducing interest rates after the European Central Bank (ECB).
Market expectations for the ECB reducing interest rates are leaned towards the June policy meeting. Several ECB policymakers are also favoring a rate cut decision in June as the inflationary pressures in the Eurozone economy have come down significantly. The core inflation decelerated to 3.1% in February, and there are no signs of a significant improvement in the economic outlook, which will keep price pressures limited.
On Thursday, ECB Governing Council member Klaas Knot said he believes the central bank will start cutting interest rates in June. Separately, ECB Governing Council member Yannis Stournaras backed the case for an early rate cut. Stournaras added that he doesn't buy the argument that the ECB cannot cut rates before the Fed and that four rate cuts in 2024 seem reasonable.
Meanwhile, the Pound Sterling has come slightly under pressure as investors shift focus to the BoE’s interest rate decision, which will be announced on Thursday. The BoE is expected to keep interest rates unchanged at 5.25%. But before that, the United Kingdom’s inflation data for February will be keenly watched.
The inflation data will influence market expectations for BoE rate cuts, which are currently leaning toward August for the first rate cut.
EUR/GBP has bounced off 0.8500, again. Economists at Société Générale analyze the pair’s outlook.
Repeated attempts by EUR/GBP to break below 0.8500 have failed this year, with the Pound finding support from higher BoE interest rates and the market’s expectation that the UK may cut rates by slightly less than the ECB this year.
With both economies stagnating, the strongest argument for the UK to cut by more is that higher rates give more room to act when inflation is deemed low enough to do so.
We will continue to recommend buying EUR/GBP when it gets close to 0.8500, and GBP, along with CHF, will be a favourite European currency short.
EUR/GBP continued to climb steadily higher on Wednesday to settle around the 0.8550 mark. Economists at ING analyze the pair’s outlook.
Today is a quiet one in the UK. The MPC is in the quiet period ahead of next Thursday’s announcement, and the data calendar is empty. On Friday, we’ll see one of the two final data inputs ahead of the BoE’s meeting – the Bank’s Inflation Attitudes Survey. The final data piece is the February CPI figures, which are released one day before the BoE announcement.
EUR/GBP is stabilising at around 0.8550, as per our expectations. We expect it to hover around these levels ahead of key data releases in the UK.
The EUR/GBP cross comes under heavy selling pressure on Thursday and for now, seems to have snapped a three-day winning streak to the 0.8560 area, or the weekly top touched the previous day. Spot prices drop to the 0.8535 region, or the fresh daily low during the first half of the European session and remain well within the striking distance of the monthly trough touched earlier this week.
The shared currency meets with some supply after European Central Bank (ECB) Governing Council member Yannis Stournaras backed the case for an early rate cut. Stournaras added that he doesn't buy the argument that the ECB cannot cut rates before the Fed and that four rate cuts in 2024 seem reasonable. This comes after several ECB officials floated the idea for the first rate cut in June and a further move in July, which, in turn, exerts pressure on the EUR/GBP cross.
The British Pound (GBP), on the other hand, remains well supported by expectations that the Bank of England (BoE) will keep interest rates higher for longer. The bets were reaffirmed by the monthly UK GDP print on Wednesday, which showed that the economy returned to growth in January after entering a shallow recession in the second half of 2023. This, in turn, is seen as another factor that contributes to the heavily offered tone surrounding the EUR/GBP cross.
Moving ahead, there isn't any relevant market-moving economic data due for release on Thursday, either from the Eurozone or the UK. Hence, investors will keep a close eye on comments from ECB policymakers, which will continue to influence the Euro and provide some impetus to the EUR/GBP cross. Apart from this, the top-tier US macro data might infuse some volatility in the markets and further contribute to producing short-term trading opportunities.
EUR/GBP is bouncing once again off a long-term support floor at around 0.8500 and recovering.
The support level is key to the technical outlook for the pair, for if EUR/GBP breaks decisively below it, it will lead to a volatile move down, that could extend quite far.
Euro to Pound Sterling: Daily chart
The 0.8500 level has been touched multiple times over the past year – four in total from the chart above (circled).
The greater the number of times a support or resistance level has been touched but not broken, the more significant it becomes as a chart level, according to technical analysis theory.
Multiple touches also lead to an eventual break that is more volatile and extreme, suggesting that should 0.8500 fall, the subsequent breakdown will be swift and brutal. This is also the time when the market often forms gaps.
How far is the move likely to go? The usual method for determining how far a move will go following a break is to take the height of the range that preceded the break and extrapolate it lower.
In the case of EUR/GBP this is difficult, however, since price has not formed a neat and tidy range. To be conservative I have taken the height of the consolidation in February and March. The result is that should the price break below 0.8500 it will probably reach a target of 0.8418. The 0.618 Fibonacci ratio extension is also often quoted as a conservative estimate, that lies at 0.8449.
It is also possible the price could fall even lower, to the 1.618 Fibonacci extension at 0.8369.
One indication that runs contrary to the expectation that EUR/GBP will break lower, however, is that the Moving Average Convergence/ Divergence (MACD) indicator is converging bullishly with price.
This means that with each touch of the support level at 0.8500 the MACD has waned, revealing lessening momentum. This does not discount the possibility of a volatile breakdown but it does introduce some doubt it will occur.
EUR/GBP ended Tuesday higher and it is little changed on Wednesday after the UK's Office for National Statistics reported real Gross Domestic Product (GDP) data.
The UK printed a positive growth number (0.2% MoM) for January, taking a first step to exit recession. The positive GDP print was largely expected, and the Pound did not move on the release.
Markets are now pricing in slightly less than three rate cuts in the UK by year-end, with a June cut around 50% priced in and an August cut fully expected.
We had deemed a break below 0.8500 as premature given the short-term EUR:GBP rate differentials, and we now expect some stabilisation around 0.8550 ahead of Friday’s UK data and the BoE meeting next week.
The EUR/GBP cross trades on a positive note below the mid-0.8500s during the early European trading hours on Wednesday. The cross drifts higher following the mixed UK data. At press time, EUR/GBP is trading at 0.8544, adding 0.04% on the day.
The latest data released from the Office for National Statistics on Tuesday showed that the UK monthly Gross Domestic Product (GDP) grew 0.2% MoM in January, compared to a contraction of 0.1% in the previous reading, matching the estimation of a 0.2% expansion. Additionally, UK Industrial Production for January came in worse than expected, dropping 0.2% MoM from a 0.6% rise in December. The UK Goods Trade Balance arrived at GBP-14.515 billion MoM in January from GBP-13.989 billion prior, better than GBP-15B expected.
On the other hand, the European Central Bank maintained its monetary policy unchanged last week. ECB President Christine Lagarde said that discussions over rate cuts have begun, but the central bank will see more evidence of information that will become available by June. On Monday, ECB Governing Council member Peter Kazimir stated that the central bank is increasingly confident that inflation is coming down, but should still hold off on an interest rate cut until June. Meanwhile, ECB policymaker Pierre Wunsch said they will have to gamble soon with rate cuts, even though wage inflation and price rises for services are uncomfortably high.
Spain’s Consumer Price Index (CPI) will be due on Thursday, along with the ECB’s Elderson, Schnabel and De Guindos speeches. On Friday, the CPI inflation data from France and Italy will be released. Next week, the UK February CPI report and the BoE interest rate decision will be in the spotlight.
The EUR/GBP cross holds positive ground below the mid-0.8500s during the early European trading hours on Tuesday. The cross edges higher following the UK Labor market and German inflation data. The cross currently trades around 0.8540, gaining 0.16% on the day.
The latest data released from the UK Office for National Statistics on Tuesday showed that the ILO Unemployment Rate came in worse than expected, rising to 3.9% in the three months to February from 3.8% in the previous reading. Meanwhile, the number of people claiming jobless benefits rose by 16.8K in February from a gain of 3.1K in January. The UK Employment Change came in at -21K in January, versus a 72K increase in December.
On the Euro front, the German Consumer Price Index (CPI) report for February was in line with the market estimation. The CPI figure remains steady at 0.4% MoM and 2.5% YoY in February. The Harmonized Index of Consumer Prices (HICP) arrived at 0.6% MoM and 2.7% YoY in February, as expected.
Looking ahead, the UK monthly Gross Domestic Product (GDP), Industrial Production, Manufacturing Production, and Trade Balance for January will be released on Wednesday. Traders will take cues from the data and find trading opportunities around the EUR/GBP cross.
EUR/GBP dived on Friday and is trading close to the 0.8500 lows. Economists at ING analyze the Pound Sterling (GBP) outlook.
The Pound’s strong momentum is set to face a key challenge on Tuesday as the UK releases its jobs report. Wage growth figures – especially in the private sector – will be watched very closely as they now represent the second most important input for the Bank of England after services inflation.
Later in the week, we’ll also see the UK’s January GDP report, February’s Retail Sales and the BoE's inflation attitude survey.
Back in February, EUR/GBP’s exploration of the 0.8500 area was very short-lived and followed by a sharp rebound. Unless UK data surprises on the strong side, we doubt EUR/GBP can fall much further from these levels.
EUR/GBP dip buyers emerge ahead of psychological support of 0.8500. Economists at Société Générale analyze the pair’s technical outlook.
EUR/GBP recently defended last August low near 0.8490. The rebound has so far remained contained near 50-DMA at 0.8580.
Daily MACD has posted positive divergence denoting receding downward momentum but a break beyond 0.8580 would be crucial for confirming short-term upside. Failure to overcome this can denote risk of one more down leg.
Break below 0.8490 can extend the decline towards next projections at 0.8455/0.8440 which is also the trend line connecting lows of December 2022 and July 2023.
The Euro (EUR) is sinking, trading in the 0.8510s against the Pound Sterling (GBP) on Friday, after two leading members of the European Central Bank's (ECB) Governing Council (GC) voiced approval for a spring rate cut.
Their dovish views clash with the more cautious stance of the ECB President Christine Lagarde, who said on Thursday, that June would be the next key date for reviewing policy on interest rates.
Francois Villeroy de Galau, Governor of the Bank of France and GC member, said a rate cut in spring was now “very likely” on Friday, adding, “spring goes from April to June.”
His ECB colleague, Bundesbank President Joachim Nagel, said "The probability is increasing that we could see an interest-rate cut before the summer break," adding, "This will be data dependent, but the prospects have brightened." According to a report on Poundsterlinglive.com.
The comments led to broad based weakness for the Euro as lower interest rates reduce the attractiveness of a currency as a place for foreign investors to park their capital.
EUR/GBP’s long-term technical outlook is sideways with a slight bearish bias in the intermediate and short-term.
Given the overall bearish theme of the charts the price will probably continue sinking to the key support level at 0.8493. A break below that would turn the picture much more bearish.
Euro vs Pound Sterling: Daily chart
There are some signs of a possible recovery, however, if price stabilizes.
The Moving Average Convergence/ Divergence (MACD) is converging bullishly with price action suggesting the downtrend may be losing momentum. .
An Inverse Head and Shoulders pattern could be forming, although the chances are diminishing as the market continues falling. For confirmation of the pattern, price would have to break above what is known as “the neckline” which is drawn as a resistance line at the highs. On EUR/GBP the neckline is at 0.8750. Such a break could be followed by a rise of either the same length as the height of the pattern extrapolated higher, or a Fibonacci 61.8%.
Given the confluence of resistance from the 100 and 200-day Simple Moving Averages (SMA) at around 0.8615, as well as resistance from the trendline nearby, this zone provides a potential conservative estimate for the pattern.
The Euro (EUR) is down over a tenth of a percent, trading in the 0.8540s against the Pound Sterling (GBP) on Thursday, on the back of diverging growth forecasts for the Eurozone and UK economy.
In Frankfurt, the European Central Bank (ECB) concluded its March policy meeting and announced its decision to keep interest rates unchanged. The ECB staff projections, however, indicated lower growth and inflation going forward, with the growth rate projected to average 0.6% for the region in 2024, and inflation 2.3%. This was below the 0.8% and 2.7% respectively of the ECB’s previous forecasts.
Across the channel in Britain, the UK’s Chancellor of the Exchequer, Jeremy Hunt, was sounding more optimistic, however. In his spring budget, presented to the House of Commons, Hunt estimated the UK economy growing by 0.8% in 2024 – stronger than the 0.7% forecast by the Office for Budget Responsibility (OBR) in November. Whilst Hunt may not be an independent source the forecast revision may still have bolstered GBP in the short-term.
The outcome appears to have been a slight depreciation of the Euro against the Pound as reflected in the EUR/GBP exchange rate.
The long-term technical outlook for the pair is sideways with a slight bearish bias in the intermediate and short-term.
At the same time, there are some signs on the daily chart indicating that the pair has the potential to reverse the bearish trend and recover. It is too early to say for sure, however, and confirmation from price action first would be required to alter the bearish outlook.
Euro vs Pound Sterling: Daily chart
The first hint is that the Moving Average Convergence/ Divergence (MACD) is converging bullishly with price action, suggesting the possibility of a recovery on the horizon.
Price made a lower low in February compared to December 2023, but the MACD failed to reflect this and made a higher low on the second trough in February instead. This nonconfirmation and convergence between the indicator and the exchange rate is a bullish sign.
Another bullish sign is that EUR/GBP may have formed a bottoming pattern called an Inverse Head and Shoulders (H&S) in January and February. This could be a sign the market may be reversing on the intermediate time frame.
If an inverse H&S is forming then it will break higher if price confirms the pattern by pushing above what is known as “the neckline”. The neckline is drawn as a resistance line at the highs. On EUR/GBP this is at 0.8750.
A break above the neckline could be followed by a rise of either the same length as the height of the pattern extrapolated higher, or a Fibonacci 61.8%.
Given the confluence of resistance from the 100 and 200-day Simple Moving Averages (SMA) at around 0.8615, as well as resistance from the trendline nearby, this zone provides a potential conservative estimate for the pattern, although it may well go higher if accompanied by a major shift in fundamentals.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.