Followme Brings the Next-Gen AI Social Trading Network

StraussX

Followme Representative
Messages
29
Social trade has always played an important role in today’s trading industry. It creates a connected community of savvier private investors. They can not only Copy-Trade the excellent traders’ signals but also learn and communicate with the professional traders via the social trading community.
Followme, the leading cross-platform social trading network has announced to launch its international version that brings the AI tech and the social trade together to ascending the social trading to the next level.

Social Trade makes trade different
Copy trading was one of the most important steps in the evolution of social trading. It enables the first contact between a trader who made a signal and someone who replicates it. Followme supports cross-platform copy trading which means that among 2000 brokers, traders’ and followers’ trading platform can be different.
Followme technology also supports real-time copy trading which means that the delays will be less than 100ms. Every trading activity is real in Followme, followers can check the traders’ profile to get detailed trading information, including open/close time, PNL, symbols, etc.

Community makes trade fun

What social trade appeal among investors is not only copy-trade function but also community interactions. Followme community makes use of AI technology to create intelligent content engine. All the community users will automatically match with contents according to their interests.
Followme users can share trading ideas, industrial trends, and trading strategies. Apart from that, brokers, medias, industrial institutions can also take part in Followme community, eg KVB Prime, FX Pro, Investing.com, etc.

Followme make trade value
FollowCoin is another star in Followme. By using Followcoin (Followme official token), Followme encourages every user’s activity.
Every action that the user conducts on the community will contribute to the active points acquiring, such as post, like, comment or vote for the others’ posts can lead to the active points accumulated for each user. By getting active points, followcoin(Fcoin) will be rewarded to the user to get community gift, such as Mac book.“We aim to build up an eco-system for forex industry around the world” mentioned by Wayne Van, CEO of Followme social trading network,” By using AI technology and blockchain, we want to achieve the goal that Followme will become the most trustworthy, mutual and transparent social trading network in the world. Followers and traders can create a strong bond regardless of brokers’ differences. I believe that Followme will be the most user-friendly social trading network around the world.”
 

StraussX

Followme Representative
Messages
29
#AUDUSD #analysis #TradingRecommendations #forex

#AustralianBureau released Statistics on Wednesday, the #WageIndex in the second quarter grew by 0.6% and by 2.3% in annual terms. The forecast was + 0.5% and + 2.2%, respectively. The data were better than expected. However, this is not enough to accelerate inflation. RBA Governor Philip Lowe called slower wage growth and productivity a major economic challenge.


"It is reasonable to expect that a #LongPeriod of #low #InterestRates will be required to progress towards lowering #unemployment and achieve steady progress towards the target #InflationRate", #RBA managing director #PhilipLowe said after an RBA meeting in earlier August.


On Thursday (01:30 GMT) data from the Australian labor market published. The #UnemploymentRate remained at 5.2% with the participation rate increasing to a fresh record high of 66.1%.


The #expectation of further easing of the monetary policy of the RBA puts pressure on the AUD in the direction of its further #weakening.


Meanwhile, the US dollar strengthened on Tuesday after the publication of data on #ConsumerInflation in the United States, which turned out to be better than forecast, and after the White House announced that it would postpone the introduction of new tariffs on imports of some Chinese goods until December 15.


Entry into #ShortPositions is allowed "by the market". A possible correctional increase to the resistance levels of 0.6795 (ЕМА200 on the 1-hour chart), 0.6830, 0.6865 (May lows), 0.6885 (ЕМА200 on the 4-hour chart) will be an additional #opportunity to resume sales of this currency pair.


We can return to the consideration of #LongPositions only after the growth of AUD/USD to the zone above the #ResistanceLevel of 0.6885 with targets located no higher than the key resistance level of 0.7050


In case of resumption of decline, the targets will be the #SupportLevels 0.6680, 0.6600. The distant target is located at support levels of 0.6260, 0.6000 (lows of 2008 - 2009).


#Support Levels: 0.6745, 0.6700, 0.6680, 0.6600, 0.6300


#Resistance Levels: 0.6795, 0.6830, 0.6865, 0.6885, 0.7000, 0.7050


#TradingRecommendations

Sell by market. Sell-Limit 0.6795, 0.6825. Stop-Loss 0.6840. Take-Profit 0.6700, 0.6680, 0.6600, 0.6300


Buy Stop 0.6840. Stop-Loss 0.6790. Take-Profit .6865, 0.6885, 0.7000, 0.7050
 

StraussX

Followme Representative
Messages
29
2019.08.20 #AUDUSD #news #forex #followme
The Australian dollar fell in yesterday's Trading, almost touching the resistance point of 0.6800 at 0.6795. After a tumultuous last week, the AUD is expected to see further volatility with the release of the RBA monetary policy meeting minutes tomorrow midday.
Released 11 times a year, the minutes are a detailed record of the #ReserveBank Board’s most recent meeting. It will provide in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
The #AUDUSD is at 0.6780 nearly. Traders are betting on the Euro to #fall through the psychological level of $1.10 this month as the #ECB prepares a stimulus package amidst the recent global economic downturn. Policy maker Olli Rehn said the package would be “impactful and significant” and would be better for the bank to overshoot than undershoot market expectations.
Furthermore, we can expect to see further short-term volatility as the US-China #TradeWar continues to develop. The temporary license granted to Huawei by the US Commerce department is due to expire today, with expectations that they will extend it another 90 days permitting the Chinese firm to continue to purchase supplies from US companies.
The #EconomicPolicySymposium will be held in Jackson Hole, Wyoming this upcoming Saturday. Attended by central bankers, finance ministers, academics and financial market participants from around the world, Federal Reserve Chair Jerome Powell’s speech is the highlight of the day as they look for signals of further #RateCuts.
Expected Ranges
AUD/USD: 0.6715 - 0.6820
 

StraussX

Followme Representative
Messages
29
[08.29] #analysis #forex #JPY

The #USDJPY pair came under some renewed #selling #pressure on Thursday and eroded a part of the previous session's positive move, back closer to weekly #tops.


The pair continued with its struggle to capitalize on this week's goodish rebound from multi-year lows and gain any strong follow-through traction beyond 200-hour SMA resistance near the 106.20-25 region.


A combination of factors benefitted JPY

As investors turned bleak on the prospect of a trade-war breakthrough any time soon, concerns over the global economic growth continued benefitting the Japanese Yen's safe-haven status and capped the major.


Market worries were evident from the prevalent cautious mood around equity markets, which coupled with the inversion of the US #BondYield curve, kept the US Dollar bulls on the defensive and exerted some pressure.


The Japanese Yen was further supported by the Bank of Japan (#BoJ) board member Suzuki's comments, saying that the economy not showing signs of #recession and that they do not need to #ease further now.


Meanwhile, the #downside seemed limited, at least for the time being, as investors now seemed to refrain from placing any aggressive bets ahead of Thursday's important release of revised US Q2 #GDP growth figures.


So, it will be #prudent to wait for a strong follow-through momentum in either direction before positioning for the pair's near-term trajectory amid the recent escalation in trade tensions between the world's two largest economies. #followme #socialtrading
 

StraussX

Followme Representative
Messages
29
08.30
#analysisi #forex #GBPUSD

#GBP was expected to weaken yesterday, and break of the solid 1.2150 support was not expected. There was another support at 1.2180. GBP subsequently dipped to 1.2172 during late NY hours before settling on a soft note at 1.2182. The immediate #risk still appears to be tilted to the downside, and for today, a breach of 1.2150 is not ruled out. That said, lackluster momentum suggests the next support at 1.2125 is unlikely to be challenged (this level is followed by solid support at 1.2100). On the upside, only a move above 1.2250 would indicate that the current mild downward pressure has eased (minor resistance is at 1.2225).
#Next 1-3 weeks, #GBP is likely to probe the #top of the expected 1.2150/1.2380 range first. After touching a one-month high of 1.2310 on Tuesday (27 Aug), GBP plummeted on the back #Brexit headlines and came close to the bottom of the expected range at 1.2150 (low of 1.2156). While the positive underlying tone has been dented, we continue to view the current movement as part of a consolidation phase.
So, after yesterday’s price action, GBP would likely trade at a lower range of 1.2100/1.2300 in the coming days. #FOLLOWME #SocialTrading
 

StraussX

Followme Representative
Messages
29
#WeekAhead

#forex #followme #socialtrading

Here are the calendar highlights for this week:

(GMT TIME ZONE)


Monday

01:45 Caixin Manufacturing PMI (Aug)

01:00 JPY Japan Vehicle Sales y/y

03:00 TRY Turkey GDP y/y

07:50 EUR France Manufacturing PMI

07:55 EUR Germany Manufacturing PMI

04:00 EUR Eurozone Manufacturing PMI

08:30 GBP Manufacturing PMI


Tuesday

04:30 AUD RBA Rate Statement

04:30 AUD RBA Interest Rate Decision

07:00 ECB's Nominated President Lagarde speech

13:30 CAD Manufacturing PMI m/m

13:45 USD Markit PMI data (Aug)

14:00 USD ISM Manufacturing PMI (Aug)

21:00 US Fed’s Rosengren (hawk, dissenter) speech



Wednesday

01:30 JPY BoJ's Kataoka speech

01:30 AUD Gross Domestic Product (QoQ) (Q2)

08:30 GBP Services PMI

09:00 EUR Eurozone retail sales m/m

11:00 EUR ECB's Lane speech

14:00 CAD Bank of Canada Monetary Policy Report

14:00 CAD Bank of Canada (BOC) Interest Rate Decision

15:15 CAD BoC Press Conference

18:00 USD Fed releases Beige Book



Thursday

05:45 CHF Q2 GDP q/q

12:15 USD ADP Employment Change (Aug)

13:45 USD Markit Services PMI data (Aug)

14:00 USD ISM Non-Manufacturing Index

14:30 GBP BOE’s Tenreyro speaks in Frankfurt

15:45 CAD BOC Schembri give economic progress report


Friday

06:00 EUR Germany Industrial Production m/m

07:30 GBP Halifax House Prices m/m

09:00 EUR Q2 Final GDP q/q

12:30 USD Non-Farm Payroll Report, Unemployment Rate and Wage Data

12:30 CAD Employment Change and Unemployment Rate

14:00 CAD IVEY PMI

16:30 Fed's Chair Powell speech

16:30 SNB's Chairman Jordan speech



The US-China #TradeWar remains tense, as certain tariffs kick in and will start to weigh on the US economy. Continued deterioration with Chinese manufacturing data also has #global #recession concerns on high alert and have markets bracing for the next wave of monetary and fiscal stimulus.


Markets remain firmly focused on the #ECB’s September 12th meeting and September 18th #FOMC decision, but we can’t overlook a plethora of# rate decisions that will likely signal continued additional #RateCuts are coming and stimulus is just around the corner. The #RBA is expected to remain on hold for just one month, while the #BOC and #Riksbank are expected to deliver dovish messages that will see them join the global #RateCutting club.


#GBP #Brexit #BorisJohnson will suspend parliament, commencing between 9th and 12th September (tbc) until the Queen’s speech on 14th October. The move leaves MPs that want to block no-deal with little time to do so and increases the chance of no-deal Brexit. The next week could, therefore, be action-packed and full of surprises. Massive swings in the pound look almost guaranteed, with there being particular vulnerability to the downside if government fails to block no-deal or bring down the government.


#AUD The #RBA meeting on Tuesday could be another one on pause mode, with market pricing only assigning a 10% chance of a 25 bps cut from the current record low of 1%. The last set of employment data was robust, with solid jobs growth and a stable unemployment rate at 5.2%. There is a slight risk of a surprise cut, but more likely we could get a more dovish tone to the statement. Q2 GDP data on Wednesday could spring a positive surprise, with latest estimates suggesting a slight improvement to +0.5% q/q from +0.4%. A dovish statement or a surprise cut would pile additional pressure on an already weak Aussie dollar. It’s fallen vs the US dollar for the past six weeks. Other G-7 Q2 data has been flat to negative, so positive growth could be a boon for AUD.
 

StraussX

Followme Representative
Messages
29
#analysis #forex #socialtrading #followme

The #EURUSD pair bounced from the mentioned low ahead of the London fix, heading into the Asian opening trading in the 1.0970 region. The pair retains the #bearish stance, with an upward corrective movement only likely if the pair firms up beyond 1.1000.

Now, it is trading at 1.0934. In the meantime, the 4 hours chart shows that the 20 SMA continues accelerating south below the larger moving averages and well above the current level, while technical indicators have stalled their slumps, but remain within extreme oversold levels.

The #risk is skewed to the #downside, with the decline seen extending on a break below the mentioned daily low.

Support levels: 1.0955 1.0920 1.0890

Resistance levels: 1.1000 1.1040 1.1085
 

StraussX

Followme Representative
Messages
29
#analysis #forex #followme #socialtrading

#GBPUSD pair stays firm around 1.2320 after witnessing three consecutive positive daily closings ahead of Friday’s UK session open, due to the receding chances of no-deal Brexit.


The United Kingdom’s (UK) House of Lords is still debating on various Brexit issues to roll them out by Friday evening, to return them to House of Commons that could pass them for Royal Assent. While no significant change is expected in that front, the British Pound (GBP) traders are more inclined to hear from judicial reviews and pleas against the Prime Minister (PM) Boris Johnson’s prorogation to the parliaments.


While the UK’s economic calendar is mostly silent, the #US will offer August month employment data for fresh impulse. Market consensus favors no change in the #UnemploymentRate of 3.7% whereas Average Hourly Earnings might step back from 3.2% to 3.1% on YoY while likely being unchanged to 0.3% on MoM. The headline Nonfarm Payrolls (#NFP) could weaken to 158K from 164K prior.


Additionally, the US #FederalReserve Chairman is scheduled to speak at an event hosted by the Swiss Institute of International Studies, in Zurich, and hence his comments will be closely observed ahead of the blackout period for the Fed policymakers.


#TechnicalAnalysis

Sustained break of the 50-day simple moving average (DMA) requires to be validated by a run-up crossing July 17 low of 1.2382 for further advances, failing to which can recall 1.2200 back to the chart.
 

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StraussX

Followme Representative
Messages
29
#WeekAhead #forex #news #followme #socialtrading
Here are the data highlights for this week:
(GMT+8)

Monday:
14:00 German trade figures and Eurozone Sentix Investor Confidence Index
16:00 UK BoE's Vlieghe speech
16:30 UK GDP, manufacturing production and construction output (all monthly figures)

Tuesday:
09:30 China Consumer Price Index (YoY) (Aug)
16:30 UK average earnings index
16:30 UK ILO Unemployment Rate (3M) (Jul)

Wednesday:
08:30 Australia Westpac Consumer Confidence (Sep)
20:30 US core PPI

Thursday:
Chinese trade figures
14:00 German Harmonized Index of Consumer Prices (YoY) (Aug)
19:45 Europe ECB rate decision and press conference
20:30 Europe ECB Monetary Policy Statement and Press Conference
20:30 US CPI

Friday
20:30 US retail sales
22:00 US Michigan Consumer Sentiment Index (Sep)

#ECB unlikely to re-launch #QE
In this week, the main significant event is Mario Draghi’s last policy meeting as the #ECB President. There have been some suggestions that the #Italian will go out with a bang and announce more quantitative #easing to stimulate the flagging #Eurozone #economy - not least Germany, where incoming data has been truly shocking.
However, with #InterestRates already at zero and having only recently ended their #QE programme, some would argue that the best course of action would be to take no action at all, even if — as Mr Draghi put it in July — the economic outlook is “getting worse and worse.” Indeed, there could be an element of hawkish surprise at this meeting. Several ECB officials have spoken against QE, including Jens Weidmann, Klaas Knot, and Madis Muller in recent days. With this much opposition, Mario Draghi will probably not want to create a mess for his successor to clean up.


US #Inflation before #Fed meeting
With the latest employment figures disappointing expectations following a very poor manufacturing #PMI earlier in the week, this has further cemented speculation over a rate cut by the Fed later this month. Ahead of the September 18 meeting, we will have two more key data releases this week which the Fed might take into account when deciding on interest rates: Consumer Price Index (#CPI) (Thursday) and #RetailSales (Friday).
Unless #CPI is shockingly weak, it is safe to assume the #Fed will only #Cut #Rates by 25 basis points rather than 50. The retail sales may change that view either. Still, it could trigger some movement in the forex and stock markets. After a strong 0.7% m/m increase in spending last month, traders will be watching for any signs of a #slowdown, especially after last month’s tariff escalations.
 
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