Silver price (XAG/USD) refreshes over a decade high to near $36.20 on Friday. The white metal performs strongly as market experts quoted it a value buy, citing its secular underperformance in comparison with Gold.
Feed from Fxstreet.com
Authorities in Singapore will block access to Octa and XM, two brokers offering forex and contracts for differences (CFDs), for providing services to residents of the city-state without holding a local licence.
Access to the two platforms will be blocked from 20 June, local media Channel News Asia reported today (Friday).
“Consumers with active accounts with Octa and XM will not be able to access their websites through Internet Access Service Providers based in Singapore,” a joint news release from the police and the Monetary Authority of Singapore (MAS) stated.
You may also like: XM Owner Is Buying Controlling Stake in a Cyprus Bank
Trading Platforms Must Have a Local Licence
The Singaporean authorities highlighted that the two platforms breached the local Securities and Futures Act (SFA) by not holding a licence. Any platform offering capital markets products, including securities and leveraged forex, in the country must have a local licence.
According to the authorities, Octa offers services in the country through two entities—one said to be based in the Union of Comoros and Mauritius, and the other solely in Mauritius. Similarly, XM onboards Singaporeans under an entity incorporated in Belize.
“This prohibition extends to entities operating outside Singapore, when the entities solicit or advertise products or services targeted at Singapore persons, or if there is a substantial number of Singaporeans using a foreign entity’s products or services,” the authorities added.
XM did not comment on FinanceMagnates.com request, while Octa did not respond at the time of publication.
Singapore: A Profitable Market for Retail Traders
Despite its small size, Singapore is home to wealthy traders. According to data from Investment Trends, the number of active online traders in the country fell to 248,000 in September last year, down from 264,000 a year earlier. However, around 73,000 potential investors still showed interest in CFD trading.
Read more: Why Singapore Traders Are Happier Than Ever (Even As Their Numbers Shrink!)
Meanwhile, many brokers choose to base themselves in Singapore due to its clear regulations and well-funded traders. Recently, StoneX-owned Forex.com launched CFD trading services from its new Singapore base. eToro also obtained a licence in the country for its regional operations.
This article was written by Arnab Shome at www.financemagnates.com.
Feed from Financemagnates.com
What were Brent and WTI crude oil prices and what are the forecasts for Brent and WTI crude oil for 2024? What factors influenced oil prices?
The post 2024 Crude Oil Forecast: Analysing Market Trends and Price Predictions appeared first at R Blog – RoboForex.
Feed from Blog.roboforex.com
TSLA Technical Analysis: Crucial Support Zone Tested After Sharp Decline
Tesla (TSLA) shares have seen substantial volatility recently, experiencing a sharp decline, notably falling over 14% on Thursday alone. This significant drop erased approximately $152 billion from the company’s market capitalization, marking an intense sell-off session highlighted by record-setting options trading volume.
Key Levels and Technical Insights:
Critical Support Zone:
Tesla stock was currently testing a significant support area between $274 and $280.
This region has historically acted as a robust demand zone, presenting potential buying opportunities if the support holds.
But profit takers may be waiting at $311-$314 (not shown in the above chart, but heads up!)
Ascending Channel:
Price action has been trading within a clear ascending channel since early April.
The current pullback aligns with the lower boundary of this channel, suggesting a possible rebound or at least a short-term consolidation at these levels.
Immediate Resistance:
$300 is a psychological round-number level that previously served as a pivotal zone for buyers and sellers.
Market Sentiment and Potential Scenarios:
Bullish Scenario:
If Tesla shares firmly hold and bounce off the identified support ($274-$280), traders could target a recovery towards the $311area, but it won’t be surprising if the price “dances” around the $300 key round number. Traders that will go Long or Short too close to $300 should consider that they are exposed to being taken out.
Continuation above $300 would strengthen bullish confidence and potentially drive the stock towards recent highs near $311-$314. If prices crosses up that resistance zone, then, with a bit of patience, $330 is later open for business
Bearish Scenario:
A decisive break and sustained close below the $274 support could signal deeper bearish pressure. That would be a breakout down and activation of the bear flag shown in the above stock price chart.
Traders should consider taking partial profits as price can range between $291.50 and $305.25. That also means that if you are in Long, you can consider taking PARTIAL PROFIT at least, just under $305.25 and if you are shorting TSLA stock, consider covering some of your short just above $291.50
Trading Considerations for TSLA stock investors and traders:
Investors and traders should carefully watch price action around the current key support zone. Volume dynamics and the pace of recovery (or lack thereof) could provide critical insights for near-term trading strategies.
As always, maintain prudent risk management, closely monitor price confirmations, and be mindful of volatility spikes, especially following major moves such as Thursday’s sell-off.
Trade wisely and at your own risk.
Stock alerts: Investing Live Stocks
Stay tuned for more insights, risk management updates, and strategic entry opportunities, ensuring you capitalize on optimal buy-the-dip scenarios.
ForexLive.com is evolving to become investingLive.com later this summer. Stay tuned.
(Disclaimer: Trading cryptocurrencies carries inherent risks. This article does not constitute financial advice. Always conduct your own research and consider your risk tolerance before making any investments.)
This article was written by Itai Levitan at www.forexlive.com.
Feed from Forexlive.com
Major Takeaways Main scenario: Consider long positions from corrections above the level of 1.1350 with a target of 1.1750 – 1.2050. A buy signal: the price stops declining and bounces upward from the level of 1.1350. Stop Loss: below 1.1275, Take Profit: 1.1750 – 1.2050. Alternative scenario: Breakout and consolidation below the level of 1.1350 will allow the pair to continue declining to the levels of 1.1060 – 1.0900. A sell signal: the level of 1.1350 is broken to the downside. Stop Loss: above 1.1420, Take Profit: 1.1060 – 1.0900. Main Scenario Consider long positions from corrections above the level… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
NVIDIA released its fiscal first-quarter 2026 earnings. Learn about its earnings report, financial performance and what analysts forecast for the stock.
Feed from Admiralmarkets.com
Public.com, which built its brand as “the social investing app,” has decided to end its social trading services. These features allowed users to view other traders’ activity and insights on the markets.
Public Pivots Away from Social Trading
Announced yesterday (Thursday), the platform said the move was driven by advancements in artificial intelligence (AI)-powered tools and services.
“The core use cases of the social feed used to be people posting recaps of earnings calls and bite-sized updates on what’s happening in the markets on a given day,” Public wrote in a blog post titled Sunsetting Social. “Now, this exact content is created by AI—faster, more accurate, and embedded throughout the product experience, showing in the most relevant context.”
Public is now positioning itself as a multi-asset trading platform. It offers trading services in stocks, options, bonds, and other instruments. The platform also provides margin trading and crypto trading, with crypto services powered by Bakkt.
The company has quickly adopted AI to launch new tools and products. Last month, it introduced Generated Assets, an AI-powered feature that enables users to turn any thematic idea into a custom equity index.
Copy Trading Still Holds Its Ground
Public is not the only firm moving away from a social trading model. eToro, which went public last month, was also originally known for its social trading features. However, it has since evolved into a broader trading platform—though it still maintains its legacy copy trading services.
Copy trading remains widely used. Data from Brokeree Solutions shows that copy trading accounted for between 6% and 20% of brokerages’ total trading volume in recent years. In 2024, firms that actively promoted copy trading and integrated it into other services saw 10% to 20% of their volume come from this segment.
Read more: Copy Trading Brings up to 20% Trading Volume for CFDs Brokers
Search interest in copy trading has also grown steadily. According to Google data, search queries for “copy trading” have increased by about 20% year-over-year for the past four years. Average monthly search volumes have doubled since the end of 2020.
This article was written by Arnab Shome at www.financemagnates.com.
Feed from Financemagnates.com
The ranges of estimates are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market’s reaction is the distribution of forecasts.
In fact, although we can have a range of estimates, most forecasts might be clustered on the upper bound of the range, so even if the data comes out inside the range of estimates but on the lower bound of the range, it can still create a surprise effect.
Non-Farm Payrolls
Unemployment Rate
Average Hourly Earnings Y/Y
Average Hourly Earnings M/M
Average Weekly Hours
You can notice that the forecasts are leaning towards a softish report. There are more forecasts for higher unemployment rate and lower average hourly earnings figures. Therefore, if the data comes out a bit above consensus, it would have a bigger surprise effect than if the data were to come below consensus.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
Feed from Forexlive.com
At this rate, we will hear from all the 26 members of the Governing Council saying that they won the battle against inflation. He sounds more dovish than the other members because he’s the most dovish one and he’s held this stance for a long time.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
Feed from Forexlive.com
The Pound Sterling (GBP) edges down against its major peers on Friday. The British currency falls despite traders have pared bets supporting another BoE interest-rate cut this month due to accelerating inflationary pressures.
Feed from Fxstreet.com
GBP/JPY looks ready to extend a months-long downtrend! How low can Guppy go before the bulls step in? We’re taking a closer look at the pair’s daily chart patterns!
Feed from Babypips.com
The victory laps at the ECB continue…
This article was written by Giuseppe Dellamotta at www.forexlive.com.
Feed from Forexlive.com