ArvinIG

Hi @dosua, You can enable you ProRealTime demo account on My IG > Settings : You will be able to use the PRT demo account for few months after that you will need to pay for a live PRT account to access the demo account. All the best - Arvin

EUR/USD, EUR/GBP and USD/JPY slip towards support on threat of Russian invasion of Ukraine. Forex EUR/USD Euro USD/JPY EUR/GBP Currency pair EUR/USD dips to 55-day simple moving average on threat of war in Ukraine Last week’s EUR/USD three-month spike high at $1.1495 has been swiftly followed by a slide back to the 55-day simple moving average (SMA) at $1.1333, taking the currency pair back towards the middle of its December sideways trading range. EUR/USD is likely to tumble further towards the early January low at $1.1272 amid rising tensions in Ukraine. Further potential support sits at the $1.1122 mid-February low. Minor resistance can be found between the late-November and December highs at $1.1382 to $1.1386. Source: IT-Finance.com EUR/GBP tumbled to 61.8% Fibonacci retracement Friday’s EUR/GBP slip through the 55-day SMA at £0.8421 swiftly took it all the way to the 61.8% Fibonacci retracement of the February rally to £0.836 which offered support. If this level were to be slipped through, the early-January low at £0.8335 would be eyed next, together with the mid-January low at £0.8324. Key support sits slightly further down between the January and early-February lows at £0.8305 to £0.8286. Resistance is to be seen between the January high and 55-day SMA at £0.8421 to £0.8422. Source: IT-Finance.com USD/JPY drops towards two-month support line at ¥114.95 Last week’s USD/JPY rejection by its January high at ¥116.35 has been accompanied by a Bearish Engulfing pattern on the daily candlestick chart which could lead to the two-month support line at ¥114.95 soon being reached. If slipped through, the 55-day SMA at ¥114.51 would be next in line, together with the early February low at ¥114.16. Further minor support is seen at the 8 December high at ¥113.96 and major support between the mid-to-late January lows at ¥113.48 to ¥113.47. Significant resistance sits between the January and current February highs at ¥116.33 to ¥116.35. Source: IT-Finance.com Axel Rudolph | Market Analyst, London 15 February 2022

Australian earnings this week: the top stocks to watch We look at three of the big companies reporting to begin the week on the ASX, as the reporting period enters its second week. Source: Bloomberg BHP Group (BHP) – 15th of February What are the markets expecting from BHP? The market is expecting a drop in profits year-over-year from BHP to 9.8 billion, but an improved performance in the last half, thanks to the rebound seen in iron ore prices over the past 6 months. The outlook has improved for the stock of late, as hopes rise of recovering Chinese economy, that’s seen iron ore exceed $US150.00 per tonne in recent weeks. However, there remains scepticism how much further prices have to run, as China looks to boost growth this year after a 2021 marred by a slow down in its property market. Currently, analyst rate BHP shares a “hold”, with 11 designating that rating, and 7 recommending a buy and 3 sell. Consensus price target reflects the neutral sentiment towards the company, which is currently around $46.22. Technical analysis of BHP shares In the short-term, the technicals look relatively healthy for BHP shares. Momentum is skewed to the upside with the weekly RSI trending higher and nearing the 70-level, with price above the 20, 50, 100 and 200 DMAs. There’s likely to be some technical resistance for the stock around the psychologically significant $50.00 mark, with resistance above that around $51.00. On the downside, support might be found at just below $46.00, and the 20-week MA at $44.70. Source: IG Fortescue Metals Group (FMG) – 16th of February What are the markets expecting from FMG? Analysts see FMG shares as deeply overvalued, with the consensus price target materially below current prices and at $16.70. As a result, the company has a consensus sell rating amongst 19 brokers, with 10 recommending that action, 8 suggesting to hold, and only 1 ascribing a buy. Profits over the year are tipped to have fallen considerably over the past 12-months, but have rebounded in the last half courtesy of the China fuelled rise in iron ore prices. Currently, Net Profit After Tax is forecast to be $US2.8B for half-year 2022, with the dividend expected to be paid $US0.67. Technical analysis of FMG shares The charts still look constructive for FMG, with the primary trend skewed to the upside despite last year’s trend reversal and price action. Long-run momentum remains skewed to the upside, with price back above all key weekly moving averages. With brokers relatively bearish on the stocks, upside may be curbed for FMG, although the key driver will be iron ore prices, especially as Chinese authorities attempt to simultaneously boost growth and control rising costs. Key support for FMG shares is around $21.40 right now. The double top at $26.40 is the most noteworthy level of technical resistance. Source: IG CSL Ltd (CSL) – 16th of February What are the markets expecting from CSL? CSL is a company that has largely suffered from the impacts of the pandemic, with it struggling to grow sales and protect margins amidst the difficulty to collect plasma effectively and cheaply. Growth over the past 12 months is expected to have contracted for the company as a result, with estimates of $US1.46B is net profit and $US1.13 dividend reflecting this fact. The outlook is expected to improve over time for CSL though, with brokers remaining broadly bullish on the stock. At present, it has a consensus buy rating out of 15 analysts, with 10 recommending a buy, 5 a hold, and none recommending to sell. Consensus price target is $320.15. Technical analysis of CSL shares Given the analyst community’s optimism about CSL’s value, it might be argued the company is a buy-the-dip opportunity, despite what are fairly ugly technicals. The share price is in a primary down trend, with it nearing technically oversold levels on the weekly RSI. Crucially, it’s also nearing a significant level of technical support around $240.00 per share, which if broken, might open a drop in the short-term towards $230.00. If the dip buyers do sweep in however, the first key level of resistance is someway from the current price, at just above $267.00. Source: IG Take your position on over 13,000 local and international shares via CFDs or share trading – and trade it all seamlessly from the one account. Learn more about share CFDs or shares trading with us, or open an account to get started today. Kyle Rodda | Market Analyst, Australia 14 February 2022

Financial markets are readying for the prospect of a Russian invasion into the Ukraine. Here’s what’s happening in markets and what it may mean going forward. Sources: Bloomberg Russia Ukraine Inflation Monetary policy A Russian invasion of Ukraine has been on the cards for some time. But one that wasn’t considered a high probability, with only a boost in energy and gold prices of late signs of investors nervousness about the potentially economic and financial consequences of such an event. The balance of probabilities shifted on Friday after the US warned an invasion could be imminent, and occur before the end of the Beijing Winter Olympics – something that was recently considered unlikely due to Russian fears of attracting the ire of China-- as Russian forces amass along the Ukrainian border. How have investors reacted to the prospect of an invasion? The developments – really, another potential supply shock for the global economy – rattled investors. Stocks were dumped, pushing the S&P500 down by another 1.9%, though stocks that benefit from increased military spending surged. Safety was sought in long-dated Treasuries, pushing the US10 Y back to 1.9%. Gold flew on fears of a Russia isolated further from the global financial system. Energy prices pushed to new highs on supply fears. And sold Euro was sold on risks to Eurozone growth, with bought the Dollar bought as well as the Yen as yields fell. What impact would a conflict have on global markets? The biggest issue here is whether bomb’s are drop and troops are run through Kyiv and the rest of Ukraine. For market participants, the impacts are the potential economic sanctions and disruptions to energy production that’s posing the biggest risk. Of course, this is why we saw oil prices crack new 7-year highs – WTI is trading around $US93 per barrel right now – and gold spike 1.7%. Should an invasion occur, US sanctions will come down on Russia, which would see assets frozen and, more painfully, Russia locked out of swift. The result from there would probably be a halt to gas imports into Europe, not to mention the likely cessation of Nord Stream II, strangling an already vulnerable Euro gas market, and pushing up broader energy prices. There would also be the growth effects – war, even if the conflict remains largely isolated to Ukraine, is no good for growth, but another supply shock that could disrupt existing pressures on global supply. Monetary policy expectations unchanged with inflation risks heightened Although a risk to the economic outlook, amidst persistent fears of tighter global monetary policy, the situation in Ukraine does little to change the arithmetic. If anything, it might make it worse. That’s because although there will be inevitable growth implications from an invasion, and some sort of war, this event would be another supply-shock, and have inflationary consequences for the global economy. Obviously, the key element is energy prices, the increase in which would put further upward pressure on inflation globally, and compel central bankers to tighter policy more aggressively. The dynamic was probably communicated through the yield curve on Friday night. Although long-dated rates fell, the short-end was less affected, suggesting limited change to policy expectations. The 10-2 spread tightened marginally to 43 basis points, as the trend lower there continues to stoke recessionary concerns. Take your position on over 13,000 local and international shares via CFDs or share trading – and trade it all seamlessly from the one account. Learn more about share CFDs or shares trading with us, or open an account to get started today. Kyle Rodda | Market Analyst, Australia 14 February 2022

Hi @sc78, Unfortunately there is no column that shows the premium next to the pairs. I would guess that a column here would be what you are requesting ? : I will forward your feedback to the development team. You can see the premiums on this page but they are not updated live: https://www.ig.com/en/help-and-support/cfds/fees-and-charges/what-are-igs-knock-outs-cfd-product-details All the best - Arvin

Hi @kabuki, Thank you for your post and feedback. Your suggestions have been forwarded to the development team to be reviewed. All the best - Arvin

Hi @SMILLER, I haven't heard about Easylanguage integration. I will forward your comment to the development team to be reviewed. All the best - Arvin

Hi @harpalss, Please reach out to helpdesk.uk@ig.com with your account details. Our team will be able to investigate with the help of the Corporate Action team to clarify if the dividends you received are correct or if it needs to be rectify. If there is an error, we will credit your account with the correct amount. All the best - Arvin

Hi @AshleyN, You can reach out to webapisupport@ig.com for API support. All the best - Arvin

EUR/USD, EUR/GBP and GBP/JPY under pressure post 40-year high in US inflation. Forex Euro Pound sterling EUR/USD Japanese yen GBP/JPY EUR/USD once again weighs on its support line and is likely to slide further Yesterday EUR/USD briefly shot up to a three-month high at $1.1495 before US consumer price index (CPI) data came in well above market forecasts of 7.3% at a 40-year high of 7.5% in January of 2022, reversing the currency pair’s uptrend. EUR/USD thus did a fourth ‘return to point of breakout’ in as many days by slipping to the breached 2021-to-2022 downtrend line and 20 January high at $1.1389 to $1.1369. In case of further downside being witnessed, the 55-day moving average (MA) at $1.1326 would be targeted. The January and current February highs at $1.1482 to $1.1495 now offer solid resistance. Source: IT-Finance.com EUR/GBP is likely to decline further still EUR/GBP now trades below the 55-day simple moving average (SMA) at £0.8424 with it slipping back towards the £0.84 mark and the November trough at £0.8381 on slightly better than expected UK month-on-month gross domestic product (GDP) and industrial production data. Immediate resistance can be spotted at the £0.8422 late January high and above it at the mid-January £0.8454 low. Source: IT-Finance.com GBP/JPY rally stalls at the October peak Yesterday GBP/JPY broke through its four-month resistance line at ¥157.55 and briefly rose above the January peak at ¥157.77, close to the October high at ¥158.22 which provoked failure, though. Despite today’s pullback, the late January uptrend remains intact. A rise above the October high at ¥158.22 would push GBP/JPY to a 5 ½ year high and open the way for major resistance at ¥162.61 to ¥163.87 to be reached. It encompasses the June and August 2009 highs, February 2014 low and the March as well as May 2016 highs and as such may stall the advance when first tested. Overall bullish pressure should be maintained, while the early February high and one-month support line at ¥156.51 to ¥156.05 underpin. Source: IT-Finance.com Axel Rudolph | Market Analyst, London 11 February 2022

Hi @Pat_Rag, Have you received the automated email once you opened your IG account? From that email you can apply to TV Pro+ account. If it works you would have received a username to enable your free Pro+ account. Could you please clarify what was the latest communication you received? Thank you - Arvin

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 14th February 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day. If you have any queries or questions on this please let us know in the comments section below. For further information regarding dividend adjustments, and how they affect your positions, please take a look at the video. NB: All dividend adjustments are forecasts and therefore speculative.A dividend adjustment is a cash neutral adjustment on your account. Index Bloomberg Code Effective Date Summary Dividend Amount SPX WY US 17/02/2022 Special Div 1.45 How do dividend adjustments work? This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Hi @ms2, Please find below what you will receive depending on your account type: If you have received dividends during the tax year, you will be able to view and download your CTC (in pdf format) by going to MyIG > My Account > Statements. This statement is usually made available one or two months after the end of the UK financial year More details here All the best - Arvin

Hi @Jules_B, I understand, you can reach out to helpdesk.uk@ig.com or use the live chat feature on the IG website. I believe that their answer would be similar though. Alternatively you can try transfers@ig.com but this email is to send transfer documents over. I hope that it helps. All the best - Arvin

Hi @Glen1946, If you order was not executed the shares should be reflecting in your open positions tab. If you are referring to the share price level missing, you may need to edit your book cost : https://www.ig.com/au/help-and-support/investments/share-trading/how-do-i-edit-my-book-cost Generally speaking the amount of shares should not change unless a trade goes through, this would reflect on your ledger summary. For further assistance please reach out to helpdesk.au@ig.com or use the live chat feature on the IG website. All the best - Arvin

Hi @Tja, Forex/currency forwards are derivatives that give you the obligation to buy or sell FX at a specific price, on a specific date in the future. FX forwards are traded over the counter, and they are not standardised for everyone. When you trade FX forwards, you are agreeing to trade a currency pair at a set price on a set date in the future. This means you intend to buy one currency (base currency) and sell another (quote currency)at a predetermined price because you believe one of the currencies will strengthen against the other by a specific date. You can find further information here. I hope that helps. All the best - Arvin

Hi @vivaneil, Could you please confirm if the issue is ongoing? Have you tried different browser or internet source? Thank you - Arvin

Hi @Sumanta, Thank you for your message. Your feedback has been forwarded to the relevant department to be reviewed. All the best - Arvin

Hi @J-JKirwin, Do you hold physical share certificates or are the shares hold by a UK registrar? https://www.ig.com/uk/help-and-support/investments/transferring-investments/how-do-i-transfer-share-certificates-or-shares-held-with-a-uk-re Since you sent all the documents the transfer team will be able to asses how to transfer your shares over. You can reach out to transfer. Alternatively you can reach out to heldpesk.uk@ig.com. All the best - Arvin

S&P 500, HANG SENG INDEX, ASX 200 INDEX OUTLOOK: Dow Jones, S&P 500 and Nasdaq 100 indexes closed -1.47%, -1.81% and -2.33% respectively US CPI hits 7.5% in January, the highest level since 1982 and also above a 7.3% estimate Asia-Pacific markets look set to open lower as investors assess rising bets on Fed rate hikes US Inflation, Treasury Yield, Jobless Claims, Asia-Pacific at Open: Wall Street equities tumbled on Thursday as US inflation readings topped market expectations, spurring fears that the Fed may tighten monetary policy more aggressively to rein in price levels. The consumer price index (CPI) hit a four decade high of 7.5%, compared to a 7.3% estimate. The core reading, which excludes volatile food and energy items, surged 6% in January, compared to a 5.9% estimate. This suggests that price pressures are probably more ‘entrenched’ than expected, urging the Fed to raise interest rates and end its asset purchasing program at the March policy meeting. Source: Bloomberg, DailyFX The implied probability of a 50bps rate hike in March has surged to 89.9% from 24% a day ago, according to CME’s FedWatch tool. Meanwhile, St. Louis Fed Chair James Bullard said the central bank should raise rates by 100bps by 1 July, inferring four quarter-point hikes over the next three meetings. He will not rule out the possibility of an emergency rate hike in between the scheduled policy reviews. His hawkish-biased view further strengthened the case of Fed tightening, resulting a broad pullback in equities and bonds overnight. The Nasdaq 100 index led the decline, as the rate-sensitive and comparatively more expensive tech sector is more vulnerable to interest rate hikes and the withdrawal of liquidity. Yield on 10-year US Treasuries surpassed 2% mark for the first time since August 2019, further weighing on risk assets. This is because higher rates make their intrinsic value lower when future cashflows are discounted back at higher risk-free rates. Real estate and information technology were among the worst performing sectors overnight. Implied Probability of Rate Hikes for March Fed Meeting Source: CME Meanwhile, weekly initial US jobless claims data came in at 223k, compared to a 230k estimate. The number of people filing for unemployment claims has been falling over the past three weeks, underscoring a tight market condition amid a gradual exit from Omicron-related restrictions. Asia-Pacific markets look set to open lower on Friday following a sour lead on Wall Street.Futures in mainland China, Australia, Hong Kong, Taiwan, Singapore and Indonesia are in the red, whereas those in South Korea, Malaysia and Thailand are in the green. Japanese markets are shut for a holiday. Looking back to Thursday’s close, all 11 S&P 500 sectors ended lower, with 86.9% of the index’s constituents closing in the red. Real estate (-2.86%), information technology (-2.75%) and utilities (-2.61%) were among the worst performers. S&P 500 Sector Performance 10-02-2021 Source: Bloomberg, DailyFX S&P 500 Index Technical Analysis The S&P 500 index may have entered a meaningful correction after breaching below an “Ascending Channel” as highlighted on the chart below. Prices have likely formed a “Double Top” chart pattern, which is commonly viewed as a bearish trend-reversal indicator. Immediate support level can be found at around 4,300 – the previous low. The MACD indicator formed a bullish crossover beneath the neutral midpoint, suggesting that a technical rebound maybe underway but the overall momentum remains weak. S&P 500 Index– Daily Chart Chart created with TradingView Hang Seng Index Technical Analysis: The Hang Seng Index (HSI) has likely broken a “Falling Wedge” pattern from the upside, as highlighted in the chart below. Prices are eyeing a key resistance level of 24,900, breaching which may expose the next resistance level of 25,600. The MACD indicator formed a bullish crossover and trended higher, suggesting that bullish momentum may be dominating. Hang Seng Index – Daily Chart Chart created with TradingView ASX 200 Index Technical Analysis: The ASX 200 index is attempting to return to the range-bound zone between 7,200 and 7,500, riding a strong technical upswing. A successful attempt signals a bullish trend reversal and reveals the next resistance level of 7,340. The MACD indicator formed a bullish crossover beneath the neutral midpoint, suggesting that a technical rebound is underway. ASX 200 Index – Daily Chart Chart created with TradingView To contact Margaret, use the Comments section below or @margaretyjy on Twitter DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. DISCLOSURES Margaret Yang, Strategist for DailyFX.com 11 February 2022

Hi @SMILLER, IG is aware that it's clients are requesting a TradingView integration. It is discussed internally but there isn't an ETA so far. All the best - Arvin

GOLD TECHNICAL OUTLOOK: Gold trading around an area of resistance in the near-term Long-term chart looks bullish, but may take a good while longer to mean anything The recent rally in gold price has it running into an area of resistance that in the near-term could shift momentum back to the downside. There is horizontal resistance running over July that is in confluence with a trend-line extending down from the August 2020 high. This could be enough to create problems looking out over the coming days. It is hard to say with conviction how convincing of a turn lower we may see given the generally choppy trading conditions we have seen since the second half of 2020. Tactically speaking, the current area may offer an opportunity for would-be shorts who are looking for a reversion type trade, but expectations should be towards only seeing a temporary move lower until we get further clarity. GOLD DAILY CHART Gold Chart by TradingView The longer-term picture is a bit clearer. Dialing back to a monthly chart the up trend in gold is still well intact even if it feels like it isn’t given what has happened since 2020. The time since the August 2020 high is looking more and more like a consolidation that will lead to another bull market surge at some point. The operative words being “at some point”. It’s been over a year-and-a-half period of nothingness and the time for a big move may be a good number of months away. But nevertheless a move higher at this juncture looks like the more probable outcome. One scenario that could really set things up nicely, and this is only a rough scenario at this time. If we see gold weaken below big support around 1676, the March 2021 low, and quickly recover back above. It would be viewed as a wash-out move that gets remaining longs to capitulate. Gold has failed to rally with the overall commodity bull market and deliver as an inflation hedge. Bitcoin has been a problem for the ‘old-school store of value’. Gold’s inability to act well has certainly taken its toll on long-term bulls, a final rinse and reverse may be just what gold needs. But even if that scenario doesn’t evolve and gold starts to surge higher by taking out 1916 for starters, a bullish bias could quickly reassert itself and gear up gold for a move well into new record territory. GOLD MONTHLY CHART Gold Chart by TradingView Resources for Forex Traders Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex. You can follow Paul on Twitter at @PaulRobinsonFX DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. DISCLOSURES Paul Robinson, Market Analyst, DailyFX 11 February 2022

AUSTRALIAN DOLLAR OUTLOOK: AUD/JPY rates have been rejected at symmetrical triangle resistance as well as the ascending trendline from the March 2020 and August 2021 lows. Similarly, AUD/USD rates have failed after attempting to breakout above bullish falling wedge resistance. However, per the IG Client Sentiment Index, both AUD/JPY and AUD/USD rates retain bullish biases. RISK REVERSAL DRAGS DOWN AUD Both AUD/JPY and AUD/USD rates have had a strong first two weeks to February, following ‘risk’ higher, generally speaking: higher bond yields, which have hurt safe haven currencies; higher equity markets; and higher commodity prices. But today’s price action is disconcerting, to say the least. Rejections at critical resistance in both pairs suggests that the recent rallies may be exhausted in the short-term. AUD/USD RATE TECHNICAL ANALYSIS: DAILY CHART (FEBRUARY 2021 TO FEBRUARY 2022) (CHART 1) For the past several weeks, AUD/USD rates have remained in the clutches of two multi-month technical patterns, the descending parallel channel in place since the end of June as well as the breakdown below the rising trendline from the March 2020 and August 2021 lows. A third pattern has emerged over the past three-plus months as well: a potential bullish falling wedge. But today’s price action has produced a strong reversal after reaching wedge resistance, the descending trendline from the October 2021 and January 2022 swing highs. The pair is above their daily 5-, 8-, 13-, and 21-EMA envelope, which is in bullish sequential order. While daily Slow Stochastics are trending higher, they have yet to reach overbought territory, and while daily MACD is trending higher, it remains below its signal line. A lack of agreement among momentum indicators suggests that AUD/USD rates may pullback before another attempt at cracking wedge resistance. IG CLIENT SENTIMENT INDEX: AUD/USD RATE FORECAST (FEBRUARY 10, 2022) (CHART 2) AUD/USD: Retail trader data shows 51.31% of traders are net-long with the ratio of traders long to short at 1.05 to 1. The number of traders net-long is 12.51% lower than yesterday and 8.00% lower from last week, while the number of traders net-short is 0.41% lower than yesterday and 13.79% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUD/USD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current AUD/USD price trend may soon reverse higher despite the fact traders remain net-long. AUD/JPY RATE TECHNICAL ANALYSIS: DAILY CHART (FEBRUARY 2021 TO FEBRUARY 2022) (CHART 3) AUD/JPY rates remain in the middle of their year-long range, finding resistance at two critical levels today: symmetrical triangle resistance from the October 2021 and January 2022 swing highs; and the ascending trendline from the March 2020 and August 2021 lows. A short-term pullback may transpire before another attempt to break through this confluence of resistance, which when cleared, would signal greater potential for a return to 86.00. Bullish momentum remains strong, emboldening a ‘buy the dip’ perspective. The pair is above their daily 5-, 8-, 13-, and 21-EMA envelope, which is in bullish sequential order. Daily MACD is beginning to trend higher through its signal line, while daily Slow Stochastics are heading into overbought territory. All things considered, AUD/JPY rates have a more appealing technical setup than AUD/USD rates, should a bullish resolution take place. IG CLIENT SENTIMENT INDEX: AUD/JPY RATE FORECAST (FEBRUARY 10, 2022) (CHART 4) AUD/JPY: Retail trader data shows 39.19% of traders are net-long with the ratio of traders short to long at 1.55 to 1. The number of traders net-long is 16.67% lower than yesterday and 9.84% lower from last week, while the number of traders net-short is 7.56% higher than yesterday and 25.49% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUD/JPY prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bullish contrarian trading bias. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. DISCLOSURES Christopher Vecchio, CFA, Senior Strategist 11 February 2022

EUR/USD, EUR/GBP and GBP/USD continue to be short-term side-lined ahead of key US CPI data. Forex EUR/USD Euro Pound sterling GBP/USD EUR/GBP EUR/USD recovers from breached resistance line, now support line EUR/USD’s retracement from its January and early February highs at around $1.1483 did a ‘return to point of breakout’ by slipping back to the breached 2021-to-2022 downtrend line, now because of inverse polarity a support line at $1.1392, before stabilising above it. Slightly further down the late November and December highs at $1.1386 to $1.1382 may act as additional support as well as the mid-point of Thursday’s long ‘body’ of its candle at $1.1368 ahead of today’s US consumer price index (CPI) data. The ‘body’ shows the distance between the open and the close of a candle. The January and current February highs at $1.1382 to $1.1383 will need to be exceeded for EUR/USD to continue its ascent towards the next higher October and 5 November lows at $1.1513 to $1.1529. Source: IT-Finance.com EUR/GBP is side-lined EUR/GBP continues to oscillate around the 55-day simple moving average (SMA) at £0.8425, having found minor support at £0.8413 over the past couple of days. While this level underpins, resistance above Monday’s high at £0.8478 may be revisited and perhaps also the 2020-to-2022 downtrend line at £0.8486 and even the 200-day SMA at £0.8512. A slip through the £0.8413 low would probably lead to a tumble back towards the November trough at £0.8381 being seen. Source: IT-Finance.com GBP/USD still hovers above minor support ahead of US CPI data GBP/USD saw a minor retracement from its early February high at $1.3628 to the mid-November high, 38.2% Fibonacci retracement and 6 January low at $1.3513 to $1.349 from where it recovered. Further sideways trading is expected to be seen whilst awaiting US CPI readings later today. For now, yesterday’s high, two-month downtrend line and 61.8% Fibonacci retracement at $1.3589 to $1.3599 are expected to put a lid on the cross. Slightly above this resistance sits the recent $1.3628 high. Only a slip through Monday’s $1.349 low would have bearish implications and would push the $1.3442 to $1.3431 support zone to the fore. It consists of the early and late January lows and the 55-day SMA. Further down lies the January trough at $1.3359. Source: IT-Finance.com Axel Rudolph | Market Analyst, London 10 February 2022

The Ocado share price is down 55% over the past year to 1,220p today. While the pandemic winner has now lost all its covid-19 gains, its long-term investments could spark an eventual recovery. Source: Bloomberg Shares Ocado Group Investment Retail Investor Customer The Ocado (LON: OCDO) share price was one of the big winners of the covid-19 pandemic, rising to twin highs of 2,819p in September 2020 and 2,808p in February last year. But it’s been on a downward trajectory over the past year, and Ocado shares are now exchanging hands for the same price as it was pre-pandemic. While the online grocery retailer has more customers and a stronger business proposition than two years ago, increasing technological investment without a timeframe for returns is weighing on investor sentiment. Ocado share price: FY21 results At first glance, yesterday’s results were broadly positive. Revenue rose 7.2% year-over-year to £2.5 billion, ‘with all business segments growing.’ Retail sales rose 4.6% to £2.3 billion and were up 41.5% compared to pre-pandemic levels. The group’s EBITDA of £61 million compares favourably to £73.1 million of the prior year, as ‘investments in technology capability and Group support functions offset higher EBITDA in UK Solutions & Logistics and Ocado Retail.’ And it maintained cash liquidity of £1.5 billion, with net debt of only £359.8 million. CEO Tim Steiner commented ‘the past year has further reinforced that demand for online grocery is here to stay… to truly win here food retailers need to deliver the best offer with the best economics across all customer missions.’ And the company is growing, albeit slower than in 2020. Customer numbers have risen 22.4% to 832,000, while order numbers increased 11.9% to 357,000. However, this was partially offset by basket spend, which fell 5.8% to £129. But Ocado believes growth could have been stronger had it not been ‘constrained…by the ongoing tight labour market in the UK’ which has seen a growing HGV driver shortage. And the company also pointed the finger at a fire in its Erith distribution centre which eventually cost £35 million. But it opened five new Customer Fulfilment Centres (CFCs), including two in the US, and expects to have 22 by the end of the year. And encouragingly, 70% of its Ocado Smart Platform partners are now live. Watch Video here Technological investment, no timeframe However, the devil is in the detail. Ocado posted a loss before tax of £176.9 million, reflecting ‘increased investment in our Solutions business, particularly the increasing roll out of Ocado Smart Platform.’ By comparison, it lost only £52.3 million the year before. And the grocer expects capital expenditure to rise to £800 million this year to fund further technological development. Moreover, it’s already invested £20 million in two autonomous vehicle software specialists, Oxybotica and Wayve, which design vehicles ‘for use inside CFCs, to last-mile deliveries; and even kerb-to-kitchen robots.’ But first prototypes could take up to two years. And while it works closely with Marks & Spencer's and Morrisons, it hasn’t signed any further supermarket deals. The grocer has informed investors it remains ‘in conversation with a number of retailers and continue to target further Solutions deals,’ but does not yet have additional contracts to utilise its 40% expanded capacity. The company professes that its ‘technology can now ramp up as fast as our partners desire…Bristol, Andover and Purfleet (sites), ramped faster than those sites before it. And Steiner believes the company’s ‘new generation of Ocado technology…represents a transformational leap forward allowing our partners to comprehensively out-compete peers online.’ But Markets.com analyst Neil Wilson believes ‘investors who’ve been in for the long haul are clearly losing patience.’ Russ Mould of AJ Bell thinks ‘investors are getting tired of hanging around for the big earnings breakthrough.’ And STIQ robotics analyst Tom Andersson is concerned that ‘whilst most of these developments looked great, none will be available to customers before the end of 2023… the question remains if these innovations will simply offer gradual increases or a dramatic 20-30% improvement of throughput.’ However, revenue from its tech division rose to £66.6 million from £16.6 million the year before. Steiner argues that recent breakthroughs are a ‘game changer…that could ‘shatter the existing rules of the industry.’ And Ocado shares could soar if this technological investment pays off. But without a clear timeframe, and amid thousands of other opportunities in a financially tight environment, the pressure to deliver continues to build. Go short and long with spread bets, CFDs and share dealing on 16,000+ shares with the UK’s No.1 platform.* Learn more about trading shares with us, or open an account to get started today. * Best trading platform as awarded at the ADVFN International Financial Awards 2021 Charles Archer | Financial Writer, London 10 February 2022