This website is managed by Ultima Markets’ international entities, and it’s important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:
You will not be guaranteed Negative Balance Protection
You will not be protected by FCA’s leverage restrictions
You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
You will not be protected by Financial Services Compensation Scheme (FSCS)
Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.
Note: UK clients are kindly invited to visit https://www.ultima-markets.co.uk/. Ultima Markets UK expects to begin onboarding UK clients in accordance with FCA regulatory requirements in 2026.
If you would like to proceed and visit this website, you acknowledge and confirm the following:
1.The website is owned by Ultima Markets’ international entities and not by Ultima Markets UK Ltd, which is regulated by the FCA.
2.Ultima Markets Limited, or any of the Ultima Markets international entities, are neither based in the UK nor licensed by the FCA.
3.You are accessing the website at your own initiative and have not been solicited by Ultima Markets Limited in any way.
4.Investing through this website does not grant you the protections provided by the FCA.
5.Should you choose to invest through this website or with any of the international Ultima Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.
Ultima Markets wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.
By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Ultima Markets entity.
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the EURUSD for Aug 29, 2024.
Key Takeaways
Nvidia Report: Nvidia’s latest revenue forecast is lower than the most optimistic market expectations, raising concerns that its explosive growth may be weakening. Nvidia expects revenue to reach approximately $32.5 billion in the third quarter. Although analysts’ average expectation is $31.9 billion, the highest estimate is $37.9 billion. After the earnings report was released, Nvidia’s U.S. stock initially rose before declining, falling more than 8% in after-hours trading. Nvidia ranks second in market value within the S&P 500 index, with a weight of about 6.5%, so its performance could have a significant impact on the overall market.
Dollar Eyes PCE: The focus of the market this week is the U.S. personal consumption expenditures (PCE) data to be released on Friday, which is the Federal Reserve’s preferred inflation indicator. Before that, investors will receive more clues about the direction of U.S. interest rates from speeches by Federal Reserve Board Governor Waller and Atlanta Fed President Bostic on Wednesday, local time.
Technical Analysis
Daily Chart Insights
(EUR/USD Daily Price Chart, Source: Ultima Markets MT4)
(EUR/USD Daily Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: The indicator sent a bearish signal in the ovebought area yesterday and formed a top divergence with the exchange rate trend. Theoretically, the exchange rate is likely to adjust downward, and investors should pay attention to short trading opportunities.
End of month trading: This week is the last trading week in August. Based on the excessively strong rise in the exchange rate in the previous period, there is a high probability of a correction at the end of the month and on weekends. Therefore, it is necessary to pay attention to the target support price below in the short term.
Support price: The exchange rate is currently blocked near 1.110, which is the high point created by the euro against the US dollar at the end of last year. After being broken through, it has become a strong support level. At the same time, this price is also near the upward channel and the 65-month moving average. If the exchange rate falls and breaks through the support level, the exchange rate may usher in a deep adjustment.
1-hour Chart Analysis
(EUR/USD H1 Price Chart, Source: Ultima Markets MT4)
(EUR/USD H1 Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: The indicator sends a bullish signal in the oversold area, suggesting that the bullish force has the upper hand in the short term during the Asian session, and it is worth paying attention to long trading opportunities in the short term.
Rebound target price: The exchange rate is currently in the rebound stage, and the downward channel line and the red 33-period moving average are potential target prices. Investors need to pay attention to the price action of the exchange rate at that time.
Pivot Indicator
(EUR/USD 30 Minutes Price Chart, Source: Ultima Markets APP)
(EUR/USD 30 Minutes Price Chart, Source: Ultima Markets APP)
According to the trading central in Ultima Markets APP, the central price of the day is established at 1.1140,
Bullish Scenario: Bullish sentiment prevails above 1.1140, first target 1.1155, second target 1.1170;
Bearish Outlook: In a bearish scenario below 1.1140, first target 1.1105, second target 1.1090.
Conclusion
To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you with valuable insights to empower your financial journey.
For personalized guidance tailored to your specific financial situation, please do not hesitate to contact Ultima Markets.
Join Ultima Markets today and access a comprehensive trading ecosystem equipped with the tools and knowledge needed to thrive in the financial markets.
Stay tuned for more updates and analyses from our team of experts at Ultima Markets.
—–
Legal Documents
Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission “FSC” of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
Why Trade Metals & Commodities with Ultima Markets?
Ultima Markets provides the foremost competitive cost and exchange environment for prevalent commodities worldwide.
Thank you for visiting the Ultima Markets website. Please note that this website is intended for individuals residing in jurisdictions where accessing is permitted by law. Ultima and its affiliated entities do not operate in your home jurisdictions.
By clicking on ''Acknowledge'', you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website based on reverse solicitation principles, in accordance with the applicable laws of your home jurisdiction.
