Wachirafx

Wachirafx With our experience and expertise, clients get the best of services in trading, executing, accounting, clearing and hedging.

About us: MNS Capital is an online Forex trading firm based in Nairobi.our objective to provide alternative investment solutions for clients ranging from financial institutions to individuals with emphasis on foreign exchange trading. Our dedicated research team provides new ideas to the client after extensive research in the market on daily basis so that the client is kept posted of very recent m

arket trends. The customer support staff at MNS Capital function to ensure that the client is satisfied at all levels, which include a rapid action in the event of any market contingency, providing margin in detail, delegate work of the floor operation, trade checking, delivery and settlement.

01/07/2023

On Friday the Manufacturing and Services PMI data from the U.K. came in worse than expected. The GBP/USD started last week’s trading near the 1.28300 vicinities only to finish Friday’s session around the 1.27150 ratios. Traders who were anticipating the bullish momentum of the GBP/USD to start challenging the 1.29000 level last week likely walked away disappointed and perhaps a bit poorer.

30/06/2023

UK growth Numbers will come via the Gross Domestic Product Results Late this Week
The 1.27000 level should be watched carefully by traders when the GBP/USD opens for trading on Monday. Before going into the weekend the GBP/USD briefly came within sight of the 1.26900 level, but reversed higher. Traders who remain bullish regarding the GBP/USD based on the notion the U.S. Federal Reserve is going to remain neutral regarding interest rate hikes should not get too comfortable.

29/06/2023

If support near the 1.26900 level remains durable and financial markets turn calmer, the GBP/USD could begin to find price action that starts to test higher realms again. However, traders should not get overly ambitious and be aware that risk events surrounding Russia, and lackluster economic data from the U.K. will have their effects. Conservative trading should be practiced this week by speculators without deep pockets.

28/06/2023

The Russia story, the ECB banking forum and GDP numbers from the U.K. will all factor into trading this week and cause volatility. The Russia situation may turn calmer, the ECB banking forum with the Bank of England attending may produce tranquil rhetoric focused on inflation, and growth numbers from the U.K are already anticipated to be lackluster. Meaning the GBP/USD could find a ‘floor’ on which to build off and move higher if risk appetite and outlooks turn slightly optimistic again. Looking for resistance to be challenged near the 1.27400 to 1.27600 would be a good start for GBP/USD bullish speculators. Solid risk management is definitely needed this coming week.

24/06/2023

The EUR/USD has rallied during the course of the trading week, breaking above the 1.09 level after the ECB raised interest rates, while the Federal Reserve chose to hold interest rates. All things being equal, the 1.10 level above is a psychological barrier that people will be paying attention to. That being said, it looks like we are starting to show a little bit of exhaustion on Friday, so I do think that a short-term pullback is likely. However, I do not expect a big move in the short term as I think we are still stuck in a range.

23/06/2023

The AUD/USD has rallied rather significantly during the course of the week, breaking above the 0.68 level. The market threatened the 0.69 level on Friday but did pull back a bit. At this point, it does make a certain amount of sense we get a short-term pullback, but if we can hold the 0.68 level on some type of bounce, it’s likely that this market will try to get to the 0.70 level above. On the other hand, if we were to take out the bottom of the weekly candlestick, then the Aussie would more likely than not drop toward the 0.66 level.

22/06/2023

Bitcoin has fallen during the week but is testing the 200-Week EMA along with the 50-EMA. The $25,000 level seems to be supported, while the $30,000 level seems to be resistant. It is more likely than not going to be a market that sees buyers jump into it this coming week, but I would not anticipate some major breakout. That being said, be very well aware that the Federal Reserve has a meeting this coming week, and if they do something somewhat drastic, it could have a major influence on Bitcoin measured against the US dollar.

21/06/2023

Gold markets initially fell during the trading week but turned around to show signs of life and form a massive hammer. This hammer was based around the $1950 level, an area that has been important multiple times. With that being the case, I think we’ve got an opportunity to get a little momentum in the market to the upside. If we can break above the $2000 level, then it’s likely that gold will start racing toward that high again, threatening the “triple top.” That being said, I think in the short term gold is more likely than not to stay in this $50 range, so if you are a short-term trader, this might be a good market for you.

20/06/2023

The GBP/USD has rallied significantly during the week as well, as it has been a rout against the US dollar. At this point, the market is likely to continue to go to the upside, with a target of 1.30 above. Short-term pullbacks will offer buying opportunities, but you will be better served waiting for some type of value to appear. After all, the selling off of the US dollar is still fresh, and of course might even be a little overdone in the short term.

20/06/2023

The British pound's performance during Thursday's trading session was marked by an initial pullback, followed by a complete turnaround and a breakout to the upside. This momentum suggests a market trajectory towards the 1.30 level. Short-term pullbacks are likely to present buying opportunities, and the market's bullish nature suggests a significant upward move. Given the momentum and market dynamics, a "buy on the dip" strategy could be an effective approach for acquiring British pounds at a lower cost.

19/06/2023

The USD/JPY has rallied significantly during the course of the week, as we continue to see a lot of very bullish behavior. The ¥140 level is going to be psychologically important, but the real support is going to be down at the ¥138 level. The ¥138 level is the top of an ascending triangle, and therefore it should be a massive “floor in the market.” As long as the Bank of Japan remains this loose with monetary policy, I just don’t see how the trajectory does anything but go higher. In fact, the “measured move” suggests that we could be going as high as ¥148 based upon the ascending triangle, and perhaps even the massive “W pattern.”

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