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Daily Technical Analysis by Capital Street FX

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  • #32701

    Asian shares trimmed a weekly rally on Friday, slipping from one-and-a-half-year highs. Markets were dragged down by sudden falls in industrial metals including copper. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.5% but looked set for its fifth straight week of gains. Hong Kong’s Hang Seng also lost 0.5% while China’s mainland shares dropped 0.4%.

    Australian material stocks topped the market decliners in the wake of big falls in the price of copper, iron ore and other commodities. Copper futures tumbled on Thursday amidst rising concerns over China’s demand.

    Being on track for a weekly decline of around 2 percent, copper prices were undermined by worries about demand in the world’s biggest copper consumer after China’s deputy housing minister Lu Kehua on Thursday said preparatory work was aloof to a nationwide property tax in an attempt to stabilize the property market.

    Gold, meanwhile, hovered around 3-1/2-month highs logged on Thursday, heading for a fourth weekly increase. The rally in the previous session came on the back of a weakening dollar which stemmed from failed attempts of Treasury Secretary Steven Mnuchin to support the currency. In a meeting of manufacturing executives at the White House, U.S. President Donald Trump signaled he wants to keep the greenback’s value lower to aid American companies selling products abroad.

    Elsewhere, the Energy Information Administration (EIA) on Thursday reported U.S. stockpiles rose last week for a seventh straight week. According to the government data, U.S. crude inventories rose by 564,000 barrels in the week to Feb. 17, below analysts’ expectations for a rise of 3.5 million barrels.

    Technicals

    GBPJPY

    GBPJPY price action has been trapped in a narrowing trading range formed by lower highs and higher lows. The pair is approaching the upper boundary and is expected to break above the range as RSI has indicated a resurgence of bullish force. ADX is also inching higher, confirming a strong bullish sentiment.

    Trade suggestion

    Buy Stop at 141.800, Take profit at 142.600, Stop loss at 141.400

    GBPAUD

    GBPAUD has been moving sideways around 1.62750 after breaking the 23.6% Fibonacci level from below. The short-term MA20 has converged with the long-term MA50, suggesting a reversal into an uptrend. RSI remains above 50 and is edging higher, signaling further advances.

    Trade suggestion

    Buy Stop at 1.62800, Take profit at 1.63300, Stop loss at 1.62500

    WTI

    U.S. crude price rebounded from a support at 54.30, also supported by a short-term 20-period moving average. The commodity resumed its rally following a short correction on Thursday. The bulls appear to jump back to market, as indicated by the RSI which is edging higher. The resistance at 55.00 is within the sight.

    Trade suggestion

    Buy Stop at 54.50, Take profit at 55.00, Stop loss at 54.25

    GOLD

    Gold has broken out of a consolidation at 38.2% Fibonacci retracement. After a sharp advance on Thursday which sent the price to 38.2% resistance, the price was contained and forced to move sideways. The price continued to surge higher but the RSI has reached the overbought zone, suggesting the rally will likely be short-lived.

    Trade suggestion

    Buy Stop at 1253.00, Take profit at 1260.00, Stop loss at 1250.00

    * All trading involves risk. Only risk capital you are prepared to lose

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  • #41665

    Daily Report on October 23, 2017

    Global shares and the U.S. dollar advanced on Monday with the odds of U.S. tax overhaul remaining in focus. Japanese shares extended their rally in the face of a softening Yen that came after Shinzo Abe’s election victory over the weekend. Indeed, Japan’s Topix index jumped 0.8 percent to hit the highest level since mid-2007 while the Nikkei climbed to reach the highest since 1996 as the Yen slumped to its weakest in almost 15 weeks.

    MSCI’s Asia Pacific Index added only 0.1 percent as strong gains in Japanese equities were offset by losses in markets in Hong Kong and Australia. Particularly, Hong Kong’s Hang Seng shed 0.6 percent while Australia’s S&P/ASX 200 dropped 0.2 percent. South Korea’s Kospi index was little changed. European shares jumped higher with the Stoxx Europe 600 Index adding 0.3 percent.

    Other stock benchmark index in the region also traded in positive territory. The U.K.’s FTSE 100 Index rose 0.1 percent and Germany’s DAX Index ticked 0.2 percent higher. European stocks received support from the common currency’s slip. The euro dropped versus its major rivals amid concerns over Catalonia as the region’s leaders refused to back off from their demand for independence from Spain.

    Gold decreased 0.5 percent to $1,274.18 an ounce, the weakest in almost two weeks. The yellow metal lost ground as the U.S. dollar was boosted by optimisms over the progress on tax reform following Republican-controlled Senate’s passage of a budget blueprint. Furthermore, expectations that the Federal Reserve will raise rate in its December meeting and tighten the economy steadily next year make non-yielding metals like gold less attractive.

    Technicals

    EURGBP

    EURGBP slumped from as high as 0.90200 – a firm resistance that has forced the pair to reverse lower since September 12th. The price action has penetrated a couple of moving averages, which confirms the downtrend. While the RSI index is heading downwards, the ADX index is pointing toward the overbought zone, indicating a strengthening bearish momentum and suggesting further declines for the pair.

    Trade suggestion

    Sell Stop at 0.89000, Take profit at 0.88600, Stop loss at 0.89200

    AUDUSD

    The Australian dollar continued to trade lower versus its American counterpart, sending the pair AUDUSD lower for the second consecutive trading day. As can be seen from the chart, the short-term MA20 has converged with the long-term MA50 from above, suggesting a strengthening bearish force in the market. RSI index that is on a decline signals further downbeat moves for the pair.

    Trade suggestion

    Sell Stop at 0.78000, Take profit at 0.77500, Stop loss at 0.78200

    USDCAD

    USDCAD has broken out of a sideways trading range that blocked the pair between a support at 1.24500 and a resistance at 1.25900. The currency pair crossed over the upper boundary from below and sent the market into the overbought zone, as indicated by the RSI index that has soared to as high as 73.38. Further advances are anticipated with the resistance at 1.27000 within the sight.

    Trade suggestion

    Buy Stop at 1.26500, Take profit at 1.27000, Stop loss at 1.26300

    GBPAUD

    GBPAUD is facing a significant level at the 50.0% Fibonacci retracement after its price action liberated from a constraint from the long-term MA50. The pair is moving sideways below the 50.0% level but looks set to break out of this handle to test another strong resistance at 1.69900 with the RSI index is rising which indicates a strengthening bullish momentum in the market.

    Trade suggestion

    Buy Stop at 1.69100, Take profit at 1.69900, Stop loss at 1.68700

    SILVER

    Silver has been tracking a downtrend under downward pressure exerted by a couple of moving averages that are hanging above the price action. The metal gapped down at the open on Monday but failed to cover the gap and continued to edge lower towards a significant level at 38.2% Fibonacci retracement. Whereas RSI index is on a decline, ADX index is heading upwards, suggesting upcoming down moves for the commodity.

    Trade suggestion

    Sell Stop at 16.880, Take profit at 16.740, Stop loss at 16.950

    CADJPY

    CADJPY tumbled after having gapped down in early trade on Monday. The pair once again fell below a support at 90.000 and also crossed over a couple of moving averages from above, showing a resurging bearish force in the market. A support at 89.400 is anticipated to be tested.

    Trade suggestion

    Sell Stop at 89.800, Take profit at 89.400, Stop loss at 90.000

    *****************************

    Dollar Advances on Tax Reform and Rate Hike Expectations, Gold Extends Losses to Two-week Lows

    Gold futures prices extended their downbeat moves on Monday after having suffered the biggest weekly loss in a month last week. The precious metal continued to be under pressure from a strengthening dollar while stocks market on a rally.

    Gold for November delivery shed 0.38 percent to trade at $1,273.70 an ounce – the weakest level in more than two weeks. The precious metal closed at $1,280.50 last Friday, marking a roughly 1.9% weekly drop which was the worst weekly performance since September 22nd.

    The yellow metal lost ground as the U.S. dollar was boosted by optimisms over the progress on tax reform following Republican-controlled Senate’s passage of a budget blueprint. Furthermore, expectations that the Federal Reserve will raise rate in its December meeting and tighten the economy steadily next year make non-yielding metals like gold less attractive.

    Trade suggestion

    Sell Stop at 1273.50, Take profit at 1268.00, Stop loss at 1276.00

    ****************************************

    GBP/JPY

    From GMT 18:45 23/10/2017
    Till GMT 21:00 23/10/2017

    Buy at 150.200
    Take profit at 150.900
    Stop loss at 149.900

    ****************************************
    AUD/NZD

    From GMT 16:30 23/10/2017
    Till GMT 21:00 23/10/2017

    Sell at 1.11900
    Take profit at 1.11400
    Stop loss at 1.12100

  • #41589

    Nervousness Ahead of New Government Formation Sends Kiwi To Nearly-five-month Lows

    New Zealand dollar tumbled broadly against its major rivals on Thursday as market participants were waiting for the country’s announcement on the new government following an inconclusive election on September 23rd.

    The Kiwi plunged by more than 1.2 percent to trade at $0.7065 in Asian trading session, sending the pair NZDUSD to the weakest level since May 30th. The local currency was hit hard after New Zealand First leader Winston Peters on Thursday said he would support the Labour Party to form government for the first time in nine years.

    With the backing of the New Zealand First Party and the Green Party, the new government led by Jacinda Ardern will control 63 of the 120 seats in parliament. The Labour party only win 46 seats in the election last month. The Kiwi dropped amidst concerns that policy changes may cause the economy to lose growth momentum.

    Trade suggestion

    Sell Stop at 0.70600, Take profit at 0.70150, Stop loss at 0.70800

    *******************************************

    Natural Gas Futures Drop to Two-month Lows After EIA Data Release

    Natural gas futures prices plunged strongly to the weakest level in more than two months on Thursday after a weekly report showed U.S. supplies of natural gas rose much more than expected last week.

    November natural gas dropped nearly 2.6 percent to trade at $2.78 per million British thermal units in North American trading session, down significantly from $2.861 before the data release. The price tumbled to the lowest level since August 07th.

    According to data published by the U.S. Energy Information Administration, U.S. national storage increased by 51 billion cubic feet for the week ended Oct. 13, compared to analysts’ forecast calling for a climb of 50 billion cubic feet. As stated by the report, total stocks now stand at 3.646 trillion cubic feet.

    Trade suggestion

    Sell Stop at 2.7800, Take profit at 2.7500, Stop loss at 0.7950

    *********************************************

    GBP/AUD

    From GMT 17:30 19/10/2017
    Till GMT 21:00 19/10/2017

    Sell at 1.67100
    Take profit at 1.66500
    Stop loss at 1.67400

    * All trading involves risk. Only risk capital you are prepared to lose

  • #41555

    Daily Report on October 18, 2017

    European shares opened modestly higher on Wednesday after mixed trading in Asian equities earlier. Despite fresh records for U.S. stocks in the previous trading session on Tuesday, the MSCI Asia Pacific Index was little change with Australia’s S&P/ASX 500 Index and South Korea’s Kospi index ending flat. While Japan’s Topix index closed less than 0.1 percent higher and the Shanghai Composite Index was up 0.1 percent, Hong Kong’s Hang Seng Index inched lower.

    The Stoxx Europe 600 Index gained 0.1 percent, supported by an increase of 0.2 percent in the U.K.’s FTSE 100 Index. However, Germany’s DAX Index marked the first retreat in a week with a decline of 0.1 percent. Whereas, politic turmoil kept Spanish equities in negative territory. Futures on the S&P 500 Index ticked up less than 0.05 percent to the highest on record.

    The U.S. dollar advanced on Wednesday amidst rising speculation over a possible appointment of a hawk as Fed chair as well as progress on U.S. tax reforms. The dollar index rose 0.1 percent to 93.58 after having surged to as high as 93.729 on Tuesday. The greenback was supported after U.S. Senate Republicans on Monday gained crucial support for a vote on a budget resolution that is vital to President Donald Trump’s hopes of signing tax reform legislation into law before January.

    Crude oil futures rose on Wednesday following a report released by the American Petroleum Institute on Tuesday that showed U.S. crude supplies dropped by 7.1 million barrels for the week ended October 13th. Inventories date published by the Energy Information Administration is due to come out later in the day with analysts expecting a drop of 3.9 barrels in crude inventories.

    Technicals

    CADJPY

    CADJPY rebounded from a firm support at 89.000 with its price action surging above a couple of moving averages which confirms the uptrend. Further advances are forecast for the currency pair as the RSI index is heading upwards which shows a strengthening bullish momentum. The ADX index is also witnessing a widening gap between the +DI and –DI lines, supporting the signals for extending up moves.

    Trade suggestion

    Buy Stop at 89.900, Take profit at 90.300, Stop loss at 89.700

    USDJPY

    The pair USDJPY has been trapped between a support at 38.2% Fibonacci retracement and a resistance at 50.0% level. The pair is also trading sideways which has sent the ADX index to as low as 22.08. However, the price action has penetrated a couple of moving averages from below which RSI index rebounded to jump into the positive territory. Further upbeat moves are anticipated to support the price to reach the 50.0% Fibonacci handle.

    Trade suggestion

    Buy Stop at 112.500, Take profit at 113.000, Stop loss at 112.300

    USDCHF

    USDCHF bounced back from a significant level at 38.2% Fibonacci retracement with the support from two moving averages that are lingering below the price action. Both RSI and ADX indices are rising, not to mention a widening distance between the +DI and –DI lines, suggesting further increases for the pair. A resistance at 0.98350 is anticipated to be tested.

    Trade suggestion

    Buy Stop at 0.97950, Take profit at 0.98350, Stop loss at 0.97750

    SILVER

    Silver resumed its downbeat moves following a consolidation that came after the price action broke below the long-term MA50. The sellers are dominating in the market, as indicated by the RSI index that has slipped to as low as 37.39. Although ADX index is ticking down slightly, the –DI and +DI lines are diverging. Further declines are expected to send the precious metal’s price to a support at 16.850.

    Trade suggestion

    Sell Stop at 16.970, Take profit at 16.850, Stop loss at 17.030

    Natural Gas

    Natural gas futures slumped from a significant level at 38.2% Fibonacci retracement and is looking set to complete its double-top pattern as it is testing the neck level at 2.9135. The price action has crossed over the long-term MA50. RSI index is heading downwards, indicating an overwhelming and strengthening bearish force in the market. The commodity is forecast to test a support at 2.8800.

    Trade suggestion

    Sell Stop at 2.9100, Take profit at 2.8800, Stop loss at 2.9250

    BRENT

    Brent crude price has been trading sideways to higher with the support from a couple of moving averages which are hanging below the price action. RSI index is heading higher at as high as 62.17, which shows a strengthening bullish force for the commodity. The price is expected to inch higher in an attempt to test a resistance at 58.850.

    Trade suggestion

    Buy Stop at 58.290, Take profit at 58.850, Stop loss at 58.100

    **********************************************

    Revenue Slips for 22nd Straight Quarter, IBM Shares Advance on Upbeat Q4 Guidance

    Shares of International Business Machines Corp. jumped dramatically in the extended session on Tuesday after the technology company released better-than-expected earnings for the third quarter.

    IBM shares surged more than 5.5% to trade at $154.72 per share after hours. The Armonk, New York-based company reported net income of $2.73 billion, or $2.92 a share for the three-month period to September, down from $3.2 billion, or $2.98 a share, in the year-ago period. Adjusted for non-recurring items, earnings were reported to reach $3.30 a share.

    Revenue also fell compared to the same period last year, slipping for the 22nd straight quarter. However, revenue ticked down slightly to $19.15 billion from $19.23 billion in the year-ago period, which was much better than the $18.6 billion analysts had been expecting.

    IBM’s chief financial officer, Martin Schroeter, said the company forecast a stronger than usual seasonal bounce in revenues for the current quarter. Boosted in part by sales of its new mainframe server, fourth-quarter revenue is projected to hit $22 billion to $22.1 billion, which would top analysts’ average estimate of $21.8 billion for sales.

    Trade suggestion

    Buy Stop at 154.80, Take profit at 156.00, Stop loss at 154.20

    ************************************************

    Benefited from Robust Sales, Abbott Reports Better-than-expected Earnings

    Shares of Abbott Laboratories soared more than 1 percent in North American trading session on Wednesday after the pharmaceutical company reported third quarter’s profit and sales that topped analysts’ estimates thanks to robust sales of medical devices and generic drugs.

    Abbott shares gained nearly 1.5 percent to trade at $55.88 after the Illinois-based company said it earned $603 million, or 32 cents per share last quarter, compared to a loss of $329 million, or a loss of 24 cents per share, in the year-earlier period.

    Revenue was reported to rise from $5.30 billion in the same period last year to $6.83 billion in the three months to September. The reading topped analysts’ forecast calling for sales of $6.73 billion. Abbott forecast full-year adjusted 2017 profit from continuing operations of $2.48-$2.50 per share, compared with previous guidance of $2.43 to $2.53.

    Trade suggestion

    Buy Stop at 55.90, Take profit at 57.10, Stop loss at 55.30

    *************************************

    EUR/JPY

    From GMT 16:20 18/10/2017
    Till GMT 21:00 18/10/2017

    Buy at 133.050
    Take profit at 133.450
    Stop loss at 132.850

  • #41507

    Euro Falls to One-week Lows As Trump Reportedly Favors A Policy Hawk As Next Fed Chair

    The euro extended its downbeat rally to a fourth consecutive trading session on Tuesday after the dollar strengthened following a report showed U.S. President Donald Trump was favoring a policy hawk as the next head of the Federal Reserve.

    The single currency dropped more than 0.3 percent in European trading session on Monday after shedding 0.25 percent the previous day, sending the pair down to trade at $1.17600 – the lowest level in one week.

    The greenback edged higher after the New York Fed’s business conditions index released on Monday jumped to the highest reading since September 2014. The figure climbed to a three-year high of 30.2 in October from 24.4 in September, easily beating economists’ expectations calling for a reading of 20.

    The U.S. dollar continued to tick up following a report that said President Trump was favoring Stanford economist John Taylor to head the Fed. Taylor is seen as a more hawkish policymaker than current Fed Chair Janet Yellen

    Trade suggestion

    Sell Stop at 1.17600, Take profit at 1.17200, Stop loss at 1.17800

    *****************************************

    Netflix Adds More Subscribers Than Expected in Q3, Shares Extend Gains

    Shares of Netflix Inc. advanced in after-hours trading session on Monday after the streaming giant said it added more subscribers than expected in the third quarter and projected growth to be in line with Wall Street expectations.

    Netflix shares added nearly 0.3 percent to trade at $205.30 per share after having closed 1.6 percent higher in regular trading. For the three-month period ended September, Netflix announced that net income soared to $129.6 million, or 29 cents per share, from income of $51.5 million, or 12 cents per share during the same quarter a year ago.

    Meanwhile, revenue for the third quarter was reported to reach $2.98 billion, up from $2.29 billion a year ago and above forecasts calling for a rise to a reading of $2.97. Moreover, Netflix said it added 5.3 million subscribers around the world in three months to September, which was well above Wall Street’s forecast of 4.5 million and also up from with the 3.6 million the company added during the same quarter last year.

    For the current quarter, Netflix forecast 6.3 million additions, which would send its customer base in all its markets to nearly 115.6 million. The reading is also higher than analysts’ average estimate of 6.25 million.

    In its investor letter that accompanies its earnings, Netflix said that it would increase its spending on original content to $7 billion to $8 billion next year in an attempt to plan for life in a post-Disney future. Walt Disney Co. in August announced that it would create its own streaming network and end its current partnership with Netflix by the end of 2019.

    Trade suggestion

    Buy Stop at 205.30, Take profit at 210.00, Stop loss at 203.00

    **********************************************

    GBP/USD

    From GMT 14:30 17/10/2017
    Till GMT 21:00 17/10/2017

    Sell at 1.31800
    Take profit at 1.31300
    Stop loss at 1.32000

  • #41404

    Daily Report on October 13, 2017

    Shrugging off downbeat U.S. equities that closed lower on Thursday, European shares rose to their highest level in nearly four months while Asian stocks also advanced on Friday. Japan’s Nikkei 225 finished the week at the highest since 1996 after adding 1 percent. The broader Topix index gained 0.5 percent while China’s benchmark climbed 0.2 percent. By contrast, South Korea’s Kospi index shed 0.1 percent.

    The Stoxx Europe 600 Index ticked 0.3 percent higher, reaching the highest in more than 16 weeks and looking set for its fifth straight week of gains. Germany’s DAX Index gained less than 0.05 percent to linger near its record and the U.K.’s FTSE 100 Index decreased 0.4 percent due to a strengthening British Pound.

    Crude oil futures prices rose on Friday, supported after the Energy Information Administration (EIA) late Thursday released its figures that showed U.S. crude inventories dropped 2.7 million barrels to 462.22 million barrels in the week to October 6th. The reading beat market forecast calling for a drop of 1.9 million barrels. Meanwhile, U.S. crude production was reported to decrease by 81,000 barrels per day (bpd) to 9.48 million bpd.

    On the demand side, Chinese oil imports, which averaged 8.5 million bpd in the first eight months of this year, reached 9 million bpd in September as the nation increased purchases for its strategic petroleum reserves (SPR).

    Generally, China’s import and export growth accelerated in September. While exports only jumped 8.1 percent, which were below forecasts of 8.8 percent, imports surged 18.7 percent in September from a year earlier, easily topping forecasts for a 13.5 percent expansion. That left the country with a trade surplus of $28.47 billion, down from around $42 billion in August and well below $40 billion expected.

    Technicals

    GBPUSD

    GBPUSD was volatile in Thursday’s trading when the price shortly plunged below both a significant level at 23.6% Fibonacci retracement and a couple of moving averages. The price recovered and sent its price action above all of these handles and is heading towards a firm resistance at 1.34000. While the RSI index is pointing higher, ADX index is also on a rise with a widening gap between the +DI and –DI lines.

    Trade suggestion

    Buy Stop at 1.33200, Stop loss at 1.34000, Take profit at 1.32800

    EURNZD

    EURNZD slumped from a resistance at 1.67550 with recent down moves bringing the price action below the short-term MA20. The price is facing both the long-term MA50 and a significant level at 50.0% Fibonacci retracement. A breakout is expected due to the fact that the market has been dominated by sellers, as indicated by RSI index that is on a decrease. ADX index is witnessing its –DI and +DI lines diverging which suggests further down moves.

    Trade suggestion

    Sell Stop at 1.65400, Stop loss at 1.64600, Take profit at 1.65800

    EURGBP

    EURGBP extended its downbeat rally following a period of consolidation that came after the price hit the long-term MA50. Whereas the RSI index is ticking lower, the ADX index rebounded with the –DI and +DI lines moving in opposite direction. Further decreases are anticipated for the pair with a support at 0.88300 within the sight.

    Trade suggestion

    Sell Stop at 0.88800, Stop loss at 0.88300, Take profit at 0.89000

    WTI

    U.S. crude oil rebounded from a support at 50.300. As can be seen from the chart, the commodity has been supported by a couple of moving averages that are lingering below the price action. Both ADX and RSI indices are edging higher which indicates an overwhelming and strengthening bullish force in the market. The price is forecast to test a resistance at 52.200.

    Trade suggestion

    Buy Stop at 51.300, Stop loss at 52.200, Take profit at 50.900

    COPPER

    Copper rebounded from a period of moving sideways below a firm resistance at 3.1300 that came after the market jumped into the overbought zone. Further advances are expected as ADX is still rising with the +DI and –DI lines diverging. Another strong resistance at 3.1300 is expected to be tested.

    Trade suggestion

    Buy Stop at 3.1350, Stop loss at 3.1600, Take profit at 3.1250

    Natural Gas

    Natural Gas futures prices extended its rally to a fourth consecutive trading day. The short-term MA20 has crossed over the long-term MA50 from below, suggesting a strong bullish momentum. While the RSI index looks set to penetrated the overbought zone, the ADX index is heading upwards with a widening distance between the +DI and –DI lines, signaling further upbeat moves.

    Trade suggestion

    Buy Stop at 2.9980, Stop loss at 3.0380, Take profit at 2.9780

    *****************************************

    Brent Crude Futures Reverse Losses After U.S. Inventories Decline, Chinese Imports Surge

    Brent crude futures prices rose on Friday, boosted after a weekly report showed both U.S. crude production and inventories retreated last week. Meanwhile, China was reported to increase its crude oil imports in September, helping reinforce expectation over a tightening market.

    December Brent crude, the global benchmark, jumped more than 1 percent to $56.84 a barrel on ICE Futures Europe after having closed down 69 cents, or 1.2% on Thursday. Oil prices were supported after the Energy Information Administration (EIA) late Thursday released its figures that showed U.S. crude inventories dropped 2.7 million barrels to 462.22 million barrels in the week to October 6th.

    The reading beat market forecast calling for a drop of 1.9 million barrels. Meanwhile, U.S. crude production was reported to decrease by 81,000 barrels per day (bpd) to 9.48 million bpd.

    On the demand side, Chinese oil imports, which averaged 8.5 million bpd in the first eight months of this year, reached 9 million bpd in September. China, the world’s biggest importer, solidified its position as the nation increased purchases for its strategic petroleum reserves (SPR).

    Trade suggestion

    Buy Stop at 57.000, Take profit at 57.700, Stop loss at 56.700

    ****************************************************

    Euro On A Decrease Versus Yen After Draghi Turns Down Germany’s Call for Rate Hike

    Euro extended losses versus its Japanese counterpart to a second trading session on Friday after European Central Bank President Mario Draghi poured cold water on German hopes over an era of low or negative rates nearing its end.

    The euro lost about 0.2 percent to trade at 132.55 yen in European trading session on Friday, paring a weekly gain. ECB President Mario Draghi on Thursday reiterated that the central bank’s asset buying program would continue until policymakers see a sustained improvement in the outlook for inflation, which has still been below the ECB target of around 2 percent.

    In his speech at an event in Washington, where he is due to attend the G20 meeting, Draghi also added that he planned to maintain the current ultra-low rates “well past” the end of its asset purchases in December. Draghi’s comments battled back German calls to exit from years of easy money in the euro zone.

    Speaking earlier in Washington, ECB chief economist and policy dove Peter Praet warned that inflation data has not shown any upbeat move, suggesting that monetary policy needed to remain easy.

    Trade suggestion

    Sell Stop at 132.550, Take profit at 132.150, Stop loss at 132.750

    *************************************************

    EUR/AUD

    From GMT 10:30 13/10/2017
    Till GMT 21:00 13/10/2017

    Sell at 1.50850
    Take profit at 1.50400
    Stop loss at 1.51050

    * All trading involves risk. Only risk capital you are prepared to lose

  • #41365

    Daily Report on October 12, 2017

    Tracking U.S. stocks that hit record highs in the previous session, Asian shares advanced on Thursday. The MSCI Asia Pacific Index rose 0.4 percent with Japanese stocks extending gains. While Japan’s benchmark Topix index increased 0.2 percent to touch the highest since July 2007, the Nikkei 225 climbed 0.4 percent, looking set for the highest level since November 1996.

    Equities also edged higher in South Korea, Australia and Hong Kong. Indeed, Australia’s S&P/ASX 200 Index soared 0.4 percent, South Korea’s Kospi index surged 0.6 percent, and Hong Kong’s Hang Seng Index gained 0.4 percent. Futures on the S&P 500 Index were little changed after the underlying gauge have risen 0.2 percent on Wednesday to a fresh record high.

    The greenback lost ground following the release of the minutes of the Federal Reserve’s September meeting. Fed’s latest meeting’s minutes showed that several policymakers were still cautious about additional tightening, saying that further rate hikes should depend on upcoming inflation data. On Friday, the Commerce Department is due to publish September inflation figures amidst expectations calling for a rise of 0.6% in consumer prices and an increase of 0.2% in the core inflation.

    Crude oil futures prices eased on Thursday after data released by the American Petroleum Institute showed U.S. fuel inventories rose more than expected last week. The report pointed to an increase of 3.1 million barrels for the week ended October 06th. Supply data from the Energy Information Administration is scheduled to be published later in the day amidst expectations calling for a fall of 400,000 barrels in crude inventories.

    Technicals

    AUDJPY

    AUDJPY rebounded from a firm support at 87.300 following a period of moving sideways. The pair did not only breach a significant level at the 50.0% Fibonacci retracement but also is facing a dynamic resistance at the long-term MA50. Indicators are supporting for further advances as both the RSI and ADX indices are rising. A resistance at 88.400 is expected to be tested.

    Trade suggestion

    Buy Stop at 87.950, Take profit at 88.400, Stop loss at 87.750

    GBPAUD

    GBPADU has been trapped between a resistance at 1.69900 and a significant handle at the 50.0% Fibonacci retracement. Besides, the price action has twisted with a couple of moving averages. With the RSI index pointing lower which suggesting a strengthening bearish force, the pair is anticipated to make a breakout and attempt a support at 1.67900.

    Trade suggestion

    Sell Stop at 1.69000, Take profit at 1.67900, Stop loss at 1.69500

    USDCAD

    USDCAD slumped further after a consolidation. The short-term MA20 has penetrated the long-term MA50 from above, confirming the downtrend. While RSI index has plunged to as low as 30.44, ADX index is on a strong rise with a widening gap between the +DI and –DI lines, indicating a strengthening bearish force and suggesting further declines for the pair.

    Trade suggestion

    Sell Stop at 1.24300, Take profit at 1.23800, Stop loss at 1.24500

    COPPER

    Copper futures prices extended their rally following a period of consolidation that came after the market has jumped into the overbought territory. The commodity is expected to trade higher with the market dominated by sellers, as indicated by the RSI index that has soared to as high as 74.94. The ADX index also rebounded with the +DI and –DI lines diverging.

    Trade suggestion

    Buy Stop at 3.1050, Take profit at 1.1300, Stop loss at 3.0950

    USDJPY

    USDJPY has been under downward pressure exerted by a couple of moving averages that are lingering above the price action. Further declines are anticipated for the currency pair as the market has been dominated by sellers, as indicated by RSI index that has tumbled to as low as 42.35. ADX index is edging higher with –Di and +DI lines diverging.

    Trade suggestion

    Sell Stop at 112.200, Take profit at 111.700, Stop loss at 112.400

    **************************************

    Euro Jumps to Two-week Highs After Fed Meeting Minutes Show Rate-hike Uncertainty

    The euro soared to more-than-two-week highs against the U.S. dollar on Thursday after the greenback lost ground following the release of the minutes of the Federal Reserve’s September meeting.

    The single currency added 0.1 percent to trade at $1.1871 – the highest level since September 25th. The pair EURUSD extended its upbeat rally to a fifth consecutive trading session. The euro has already been supported after Catalan leader Carles Puigdemont on Tuesday backed away from short of formal declaration of independence from Spain, which helped ease political tension in the region.

    The demand for euro was also bolstered amidst expectations that the European Central Bank would announce its plan to wind back its 2.3 trillion euro bond-buying program at its policy meeting due later this month.

    Meanwhile, Fed’s latest meeting’s minutes showed that several policymakers were still cautious about additional tightening, saying that further rate hikes should depend on upcoming inflation data.

    On Friday, the Commerce Department is due to publish September inflation figures amidst expectations calling for a rise of 0.6% in consumer prices and an increase of 0.2% in the core inflation. Besides data on CPI, the Commerce Department at the same time will publish its figures on retail sales for September. Analysts forecast retail sales increased 1.6% and core sales added 0.3 percent last month.

    Trade suggestion

    Buy Stop at 1.18750, Take profit at 19.150, Stop loss at 1.18550

    * All trading involves risk. Only risk capital you are prepared to lose

  • #41327


    Daily Report on October 11, 2017

    Asian shares surged strongly on Wednesday while European equities struggled for direction. Particularly, the Nikkei Stock Average reached a two-decade closing high as boosted by stronger earnings, not to mention an improved economy as well as a better environment for shareholders. By contrast, the Stoxx Europe 600 gauge was flat due to a drop in industrial metals that dragged down shares of miners. Germany’s DAX Index shed 0.2 percent to plunge to the lowest in more than a week.

    The dollar remained weak amidst rising uncertainty over President Donald Trump’s tax plan. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies dropped more than 0.2 percent to trade at 93.07 – the lowest level since September 29. The greenback lost ground versus its major rivals after war of words between U.S. President Donald Trump and Tennessee Senator Bob Corker, an influential fellow Republican, which raised concerns over his push for a tax-code overhaul.

    Market participants awaited the minutes of the Federal Reserve’s September meeting which will be released later in the day. Meanwhile, the euro’s rally was boosted after Catalan leader Carles Puigdemont on Tuesday backed away from a declaration of independence from Spain. The action helped open the door to negotiations with Madrid and avert an immediate crisis.

    Crude oil prices ticked higher on Wednesday, extending its rally to a third day thanks to prospects over a gradually tightening after years of oversupply. The American Petroleum Institute (API) is due to be published data on Wednesday, followed by figures of weekly inventory numbers released by the Energy Information Administration on Thursday. Reports were delayed due to a U.S. federal holiday on Monday.

    The Kiwi remained weak after a final vote count from a general election held two weeks ago failed to identify a clear winner. New Zealand’s election officials on Saturday released the final 17 percent of the vote tally which pointed to a conclusion that the conservative National Party ended with 44 percent of the vote, while the liberal bloc of the Labour Party and the Green Party ended with a combined 43 percent.


    Technicals

    EURGBP

    Having been supported by the short-term MA20, the pair EURGBP has been tracking a steady uptrend. The currency pair is likely to trade higher with signals confirmed by a rising RSI index that has soared to as high as 63.86. Meanwhile, ADX index reversed higher with the +DI and –DI lines moving in opposite directions. A resistance at 0.90300 is within the sight.

    Trade suggestion

    Buy Stop at 0.89700, Take profit at 0.90300, Stop loss at 0.89400

    NZDUSD

    The pair NZDUSD has been trading sideways below a significant level at the 61.8% Fibonacci retracement. The pair retested this handle earlier today but failed to make a breakout and had to reverse lower. Under downward pressure from two moving averages that are lingering above the price action, as well as an overwhelming bearish force in the market, the pair is forecast to extend its downbeat moves to test a support at 0.70150.

    Trade suggestion

    Sell Stop at 0.70650, Take profit at 0.70150, Stop loss at 0.70850

    EURCHF

    With the support from a couple of moving averages that are moving below the price action, the pair EURCHF has liberated from a period of consolidation and has broken above a strong resistance at 1.15200. Both ADX and RSI indices are surging strongly while the +DI and –DI lines are diverging. Further increases are expected for the pair with a resistance at 1.15800 within the sight.

    Trade suggestion

    Buy Stop at 1.15400, Take profit at 1.15800, Stop loss at 1.15200

    Natural Gas

    As can be seen from the chart, natural gas futures prices rebounded from a firm support at 2.8300 and has crossed over the long-term MA50 after having penetrated the short-term MA20 from below. A reversal into an uptrend is expected to help the commodity retest a strong resistance at 2.9600. Both RSI and ADX indices are rising, not to mention a widening gap between the +DI and –DI lines. Further advances are anticipated.

    Trade suggestion

    Buy Stop at 2.9200, Take profit at 2.9600, Stop loss at 2.9000

    WTI

    U.S. crude oil futures prices are tracing an uptrend that sent the price action above a couple of moving averages. The commodity is heading upwards toward a firm handle at the level 52.200. Both the ADX and the RSI indices are pointing upward, which indicates an overwhelming and strengthening bullish forces. Further advances are expected for the prices.

    Trade suggestion

    Buy Stop at 51.300, Take profit at 52.200, Stop loss at 50.900

    NASDAQ 100

    U.S. Nasdaq 100 Index has been moving sideways after having hit an all-time record high at 6080.00. The stock benchmark index has been supported by a couple of moving averages, especially the short-term MA20. The market has been dominated by buyers, as indicated by the RSI index that is at 56.55. A high at 6080.00 is anticipated to be retested.

    Trade suggestion

    Buy Stop at 6060.00, Take profit at 6080.00, Stop loss at 6050.00

    ************************************

    Euro Jumps to Multi-month Highs Vs Kiwi As Catalonia’s Political Tensions Ease

    The euro soared to nearly-30-month highs versus the New Zealand dollar on Wednesday. While the single currency strengthened after strong economic data out of Germany and easing concerns over Catalonia’s political tensions.

    The pair EURNZD added 0.11 percent to trade at NZ$1.672 in European trading session on Wednesday. The euro extended its rally to a seventh consecutive trading session and boosted the price to the highest level since May 13th, 2016. The euro’s rally was boosted after Catalan leader Carles Puigdemont on Tuesday backed away from a declaration of independence from Spain. The action helped open the door to negotiations with Madrid and avert an immediate crisis.

    Meanwhile, the Kiwi remained weak after a final vote count from a general election held two weeks ago failed to identify a clear winner. New Zealand’s election officials on Saturday released the final 17 percent of the vote tally which pointed to a conclusion that the conservative National Party ended with 44 percent of the vote, while the liberal bloc of the Labour Party and the Green Party ended with a combined 43 percent.

    Moreover, small New Zealand First party, which finished with 7 percent of the vote and holds the balance of power, is holding a fourth day of talks aimed at forming the next government. However, the party hasn’t indicated which of the larger parties it favors to form coalitions, leaving the nation’s currency under political uncertainty.

    Trade suggestion

    Buy Stop at 1.67300, Take profit at 1.68000, Stop loss at 1.67000

    ***************************************************

    AUD/NZD

    From GMT 08:45 11/10/2017
    Till GMT 21:00 11/10/2017

    Buy at 1.10200
    Take profit at 1.10700
    Stop loss at 1.10000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #41297

    Daily Report on October 10, 2017

    Shrugging off modest losses on Wall Street, Asian shares rose on Tuesday as traders returned from holidays. The MSCI Asia Pacific Index jumped 0.6 percent, led by an increase of 1.6 percent of South Korea’s Kospi index. Whereas, Japan’s Topix index gained 0.5 percent at the close of trading in Tokyo and Australia’s S&P/ASX 200 Index closed flat.

    Hang Seng Index surged 0.6 percent while the Shanghai Composite Index added 0.2 percent after having reached its highest since January 2016 on Monday. The Chinese yuan also rose on Tuesday after the PBOC raised the official midpoint to 6.6273 per dollar, from Monday’s fixing of 6.6493 per dollar. Head of the National Bureau of Statistics of China, Ning Jizhe reportedly said that China would have no problem meeting its economic growth target of around 6.5 percent this year, and may even surpass this target.

    The National Australia Bank reported that the nation’s business conditions remained strong in September. Indeed, NAB’s Business Confidence index jumped to a net balance of +7 last month, up from +5 in August and above analysts’ expectations calling for a rise to +6. NAB’s Chief Economist, Alan Oster, claimed that “Business conditions at these levels tell us that the business sector in Australia is doing very well”.

    Crude oil futures prices advanced on Tuesday due to prospects of balancing oil market. OPEC’s secretary general Mohammad Barkindo on Monday said that “There is clear evidence that the market is rebalancing” given “the process of global destocking continues” in recent months.

    The Federal Statistical Office of Germany on Tuesday reported that German exports surged in August due to strong demand from the Eurozone. Particularly, German’s total goods exports in August was reported to climbed 3.1% from July, led by a 10.6% increase in exports to eurozone countries.

    Technicals

    NZDJPY

    NZDJPY reversed lower after a period of moving sideways below a significant level at the 50.0% Fibonacci level. The pair gapped down and fell below this level earlier this week but failed to recover and surpass this handle. Under downward pressure from two moving averages that are hanging above the price action, the pair is expected to trade lower to test a support at 79.000.

    Trade suggestion

    Sell Stop at 79.500, Take profit at 79.000, Stop loss at 79.700

    EURUSD

    EURUSD extended its upbeat rally following a consolidation around a couple of moving averages. The price action successfully penetrated these two dynamic resistance from below, which confirms the uptrend. While RSI index is pointing towards the overbought zone, ADX index is ticking higher with the +DI and –DI lines moving in different directions. Further advances are expected.

    Trade suggestion

    Buy Stop at 1.17900, Take profit at 1.18300, Stop loss at 1.17700

    USDCAD

    USDCAD fell below both the short-term MA20 and the long-term MA50 after a consolidation. A reversal into a downtrend is confirmed after the breakout. With RSI index has jumped into the negative territory, the ADX index reversed higher with a widening gap between –DI and +DI lines. A support at 1.24500 is expected to be tested.

    Trade suggestion

    Sell Stop at 1.25000, Take profit at 1.24500, Stop loss at 1.25200

    SILVER

    Silver has been tracking an uptrend that has sent the precious metal to the highest level since September 26th. While the RSI index is heading upward, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, suggesting a strengthening bullish force in the market. A resistance at 17.200 is within the sight.

    Trade suggestion

    Buy Stop at 17.060, Take profit at 17.200, Stop loss at 17.000

    GOLD

    Gold has been trading higher after rebounding from a significant level at 61.8% Fibonacci retracement. As can be seen from the chart, the short-term MA20 has crossed over the long-term MA50 from below, which confirms the uptrend. As both RSI and ADX indices are edging higher, the precious metal is anticipated to extend its upbeat move to attempt a resistance at 1298.00.

    Trade suggestion

    Buy Stop at 1291.00, Take profit at 1298.00, Stop loss at 1288.00

    BRENT

    Brent crude prices rebounded from a firm support at 55.000 benchmark level which has supported the commodity price since September 13th. The price action has crossed over the short-term MA20 and is facing the long-term MA50. A breakout is expected with the market having jumped in the positive territory. ADX index is also on a rise. A resistance at 57.200 is anticipated to be tested.

    Trade suggestion

    Buy Stop at 56.400, Take profit at 57.200, Stop loss at 56.000

    ************************************************** *

    Supported by Upbeat Data and Signs of Stronger China’s Economy, Aussie Snaps Three-day Slide

    The Australian dollar strengthened versus its American counterpart on Tuesday, snapping a three-day streak of losses. The Aussie gained ground in the wake of upbeat economic data and signs of stronger economic growth in China.

    The pair AUDUSD added more than 0.5 percent to trade at $0.7796 in Asian trading session on Tuesday. The National Australia Bank reported that the nation’s business conditions remained strong in September. Indeed, NAB’s Business Confidence index jumped to a net balance of +7 last month, up from +5 in August and above analysts’ expectations calling for a rise to +6.

    NAB’s Chief Economist, Alan Oster, claimed that “Business conditions at these levels tell us that the business sector in Australia is doing very well.”

    Meanwhile, head of the National Bureau of Statistics of China, Ning Jizhe reportedly said that China would have no problem meeting its economic growth target of around 6.5 percent this year, and may even surpass this target. Jizhe also added that measures taken by the government to cool the overheated property market have been effective and will remain in place.

    Also supported by a weak dollar, the Chinese yuan rose on Tuesday as China’s central bank guided the currency’s midpoint higher. The People’s Bank of China (PBOC) fixed the official midpoint at 6.6273 per dollar, firmer than Monday’s fixing of 6.6493 per dollar, marking the first time it has raised that guidance in two weeks.

    As China has become the biggest trading partner of Australia, especially Australian iron ore and coal, while Australian economy depends heavily on the foreign investment and commodity exports, investor sentiment towards the Aussie tends to partly be dictated by Chinese economic prospects.

    Trade suggestion

    Buy Stop at 0.78000, Take profit at 0.78400, Stop loss at 0.77800

    ******************************************

    U.K. Stocks Reverse Higher on Gains in Shares of Miners and Upbeat Economic Data

    U.K. shares advanced on Tuesday, reversing higher from a loss in the previous session. Mining shares led the overall performance thanks to gains in prices of dollar-denominated metals while upbeat industrial production figures also contributed to the bullish sentiment.

    The FTSE 100 index jumped nearly 0.25 percent to trade at 7,526.71 after having slipped 0.2 percent on Monday. Shares of copper producers soared as copper prices touched their highest in four weeks on Tuesday. The metal climbed 0.45 percent to trade at $3.0445, sending shares of copper producers Antofagasta PLC and Fresnillo PLC up 1.58% and 1.75%, respectively.

    On the back of a weak dollar, gold and silver prices were also on a rise, helping bolster shares of international gold mining and exploration business Randgold Resources up 0.8%.

    Meanwhile, the Office for National Statistics on Tuesday reported that manufacturing production grew by 0.4% month on month in August, brought the annual growth rate to 2.8%, outstripping expectations of a 1.9% increase. Industrial production was reported to climb 1.6% year-over-year, also above a forecast of 0.9%.

    Trade suggestion

    Buy Stop at 7,526.71, Take profit at 7,55000, Stop loss at 7,51600

    ************************************************

    EUR/NZD

    From GMT 13:00 10/10/2017
    Till GMT 21:00 10/10/2017

    Buy at 1.66900
    Take profit at 1.67100
    Stop loss at 1.66700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #41239

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  • #41221

    Daily Report on October 09, 2017

    Asian shares were mostly higher on Monday while European stock market gains, led by equities in Spain. The Shanghai Composite Index soared 0.76 percent while the Shenzhen Composite Index jumped 1.3 percent after a weeklong holiday. However, Hong Kong stocks retreated with the Hang Seng Index closed 0.5 percent lower after having hit 10-year highs last Friday.

    Whereas, Australian stocks extended their rally, adding 0.5 percent on Monday with advances mainly from stocks of the country’s big banks. New Zealand’s stock benchmark also traded higher with the S&P/NZX 50 Gross Index climbing 0.4% to 8,010.28. The index surpassed the 8,000 level for the first time in history after its fifth-straight record closing high.

    Stocks in Europe also started the week on an upbeat note after mass demonstrations in Catalonia over the weekend in favor of Spanish unity. The Stoxx Euro 600 Index gained 0.2 percent, supported by Spain’s IBEX benchmark that surged nearly 0.7 percent. While a senior member of the Catalan administration called for dialogue on the region’s independence bid, companies threatened to move their head offices to other parts of the country.

    European stocks also received a boost from data showing German industrial output jumped more than expected in August. According to data released by the Destatis, German industrial production rebounded from a summer lull and increased by 2.6 per cent on the month in August. This is the biggest monthly increase in more than six years. Elsewhere, stocks in the U.S. will be closed for the Columbus Day holiday Monday while markets including Japan, Korea and Taiwan are also closed.

    Technicals

    USDCAD

    USDCAD rebounded after having hit a dynamic support at the short-term moving average MA20. While the RSI index is surging, ADX index is also on a rise with a widening gap between the +DI and –DI lines, which shows an overwhelming and strengthening bullish momentum in the market. A resistance at 1.26350 is within the sight.

    Trade suggestion

    Buy Stop at 1.25600, Take profit at 1.26350, Stop loss at 1.25300

    GBPUSD

    GBPUSD reversed lower after having failed to sustain its bullish momentum above the short-term MA20. RSI index also turned lower which shows a recovering bearish force in the market. The pair is anticipated to extend its downbeat moves and trade lower, possibly heading towards a support at 1.30700.

    Trade suggestion

    Sell Stop at 1.31300, Take profit at 1.30700, Stop loss at 1.31600

    AUDNZD

    With the support from a couple of moving averages which are lingering below the price action, especially the short-term MA20, the pair AUDUSD bounced back. The RSI index edged higher at as high as 56.73, showing a strengthening bullish force. A high at 1.10100 recorded earlier in the session is expected to be tested again.

    Trade suggestion

    Buy Stop at 1.09700, Take profit at 1.10100, Stop loss at 1.09500

    WTI

    WTI crude price futures have been moving sideways around the level at 49.355 after having plunged to the lowest level since mid-September. The commodity has been under pressure from two moving averages that are hanging above the price action, which may depress the price further. RSI index is pointing downward, indicating a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 49.200, Take profit at 48.500, Stop loss at 49.500

    ************************************************

    Natural Gas Futures Hit Two-month Trough As Mild Weather Hurts Demand

    U.S. natural gas futures extended their downbeat moves on Monday, with prices weighed down by weather forecast that show milder weather over the next couple of weeks.

    Front-month gas futures for November delivery on the New York Mercantile Exchange tumbled more than 0.7 percent to trade at $2.843 per million British thermal units in North American trading session, heading to close lower for the sixth trading session in the last seven days. The futures prices plunged to the lowest level since August 09, 2017 on Monday after having slipped by nearly 5% last week.

    Weather forecasting models predicted mild temperatures for the eastern part of the U.S. due to the fact that high pressure returns. Meanwhile, the West Coast will be mild to warm and the southern U.S will be very warm to hot. According to market analysts, under the impact of mild weather that tends to hurt early-winter demand for the heating fuel, U.S. gas consumption would slip to 71.3 billion cubic feet per day (bcfd) this week and the next from 74.3 bcfd last week.

    Trade suggestion

    Sell Stop at 2.8300, Take profit at 2.8000, Stop loss at 2.8450

    ********************************************************

    Euro Gains Ground vs Rivals After ECB Hawk Calls Winding Down Asset Purchases

    The euro rose versus its American counterpart for second day in a row on Monday, pulling back from a one-and-a-half-month low recorded last Friday. The single currency was boosted on the back of hawkish comments from an ECB hawkish official.

    The pair EURUSD added 0.2 percent to trade at $1.1756 in North American trading session on Monday after having hit a low at $1.1668 on Friday. ECB Executive Board member Sabine Lautenschlaeger on Monday claimed that the central bank should reduce its asset purchases from next year with the aim to halt the program altogether.

    Lautenschlaeger, who has in the past spoken favorably about withdrawing stimulus, argued that swelling the ECB’s balance sheet any further is not needed given the fact that the factors holding down inflation are temporary. The ECB is scheduled to hold its policy meeting later this month, on October 26th, to decide whether to continue bond purchases next year.

    Trade suggestion

    Buy Stop at 1.17600, Take profit at 1.18000, Stop loss at 1.17400

    ****************************************************************

    NZD/USD

    From GMT 14:30 09/10/2017
    Till GMT 21:00 09/10/2017

    Sell at 0.70700
    Take profit at 0.70300
    Stop loss at 0.70900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #41174

    Daily Report on October 06, 2017

    Global shares jumped higher on Friday after U.S. stocks notched record closing highs again in the previous session. Asian shares soared and European equities opened higher while gold extended losses as dollar lingered at seven-week highs against other major counterparts thanks to optimism over the outlook for the U.S. economy that is strong enough to withstand higher interest rates.

    MSCI’s broadest index of Asia-Pacific shares outside Japan surged 0.3 percent, poised for a 1.6 percent gain on the week. Hong Kong’s Hang Seng index led gains with an increase of 3.3 percent in a holiday-shortened week. While Australia’s S&P/ASX 200 Index added 1 percent, Japan’s Topix index climbed 0.3 percent.

    Investors are awaiting U.S. non-farm payrolls data which is scheduled to be released by the Bureau of Labor Statistics later in the day. Analysts forecast a slowdown in new jobs added last month due to disruptions from two major hurricanes Harvey and Irma in September. Indeed, U.S. economy is anticipated to have created 90,000 jobs in September while jobless rate is expected to remain unchanged at 4.4 percent.

    Technicals

    GBPAUD

    GBPAUD has been trading sideways to lower below a significant level at the 50.0% Fibonacci retracement. Under downward pressure exerted by the short-term MA20, the pair is anticipated to trade lower to test another firm handle at the 38.2% Fibonacci level. RSI index retreated to keep moving in the negative territory, suggesting further declines for the pair.

    Trade suggestion

    Sell Stop at 1.68100, Take profit at 1.67300, Stop loss at 1.68500

    USDCAD

    USDCAD has been tracking a strong uptrend that has sent the pair to the highest level since August 31st. With the support from two moving averages that are lingering below the price action, the pair is expected to retest a firm resistance at 1.26350 – the level that force the pair to reverse lower late-August. Rising ADX and RSI indices signals further advances.

    Trade suggestion

    Buy Stop at 1.25950, Take profit at 1.26350, Stop loss at 1.25750

    EURUSD

    The pair EURUSD successfully broke out of a strong support at the benchmark level 1.17000 in the previous session and is extending its downbeat moves. Under downward pressure exerted by two moving averages hanging above the price action, the pair is forecast to sustain its bearish momentum in an attempt to reach a support at 1.16450.

    Trade suggestion

    Sell Stop at 1.16850, Take profit at 1.16450, Stop loss at 1.17050

    NATURAL GAS

    Under downward pressure from two moving averages that are hanging above the price action, natural gas futures extended their downtrend following a short consolidation. With the RSI index pointing down while ADX index witnessing a crossover between the –DI and +DI lines, the commodity is expected to trade lower to test a support at 2.8400.

    Trade suggestion

    Sell Stop at 2.8700, Take profit at 2.8400, Stop loss at 2.8850

    BRENT

    Brent crude prices reversed lower after having hit a resistance at 57.200. The commodity is facing a firm support at 55.550 – the level that the price has failed to breach since the beginning of this week. After the price action had fallen below both the short-term MA20 and the long-term MA50, the commodity is anticipated to attempt a support at 54.800.

    Trade suggestion

    Sell Stop at 55.550, Take profit at 54.800, Stop loss at 55.900

    EURGBP

    EURGBP has been tracing a steady uptrend that sent the currency pair to the highest level since mid-September at 0.89800. While RSI index has jumped into the overbought zone, the ADX index is heading upwards with a widening distance between the +DI and –DI lines, indicating a strengthening bullish force in the market and suggesting further advances for the pair.

    Trade suggestion

    Buy Stop at 0.89800, Take profit at 0.90300, Stop loss at 0.89600

    ***************************************************

    Gold Futures Hover Near Two-month Lows Ahead of U.S. Non-farm Payrolls

    Gold slipped in early European trading session on Friday, extending downbeat moves after having hit two-month lows in the previous session. The precious metal has been under pressure as the dollar was lingering at seven-week highs against other major counterparts thanks to optimism over the outlook for the U.S. economy.

    Contracts tied to gold for November delivery on the Comex division of the New York Mercantile Exchange dipped 0.21% to $ 1,268.70 a troy ounce, hovering near the weakest level since August 09th. Demand for the greenback has been bolstered on the back of hawkish comments from the Federal Reserve policy makers that signal one more rate hike at the end of this year.

    Philadelphia Federal Reserve Bank President Patrick Harker on Thursday did not only echoed his colleagues’ claims but also said that he expected three rate increases next year. Upbeat U.S. data also support market participants’ sentiment, helping strengthen the greenback and put pressure on dollar-denominated gold prices.

    Investors are awaiting U.S. non-farm payrolls data which is scheduled to be released by the Bureau of Labor Statistics later in the day. Analysts forecast a slowdown in new jobs added last month due to disruptions from two major hurricanes in September.

    Indeed, U.S. economy is anticipated to have created 90,000 jobs in September while jobless rate is expected to remain unchanged at 4.4 percent.

    Trade suggestion

    Sell Stop at 1268,00, Take profit at 1261,00, Stop loss at 1271,00

    *****************************************************

    Sterling Sinks to One-month Lows Amidst Rising Political Uncertainties

    Sterling tumbled to one-month low versus the U.S. dollar in European trading session on Friday amidst rising political uncertainty while the dollar kept ticking higher due to optimism over one more rate hike this year.

    The British Pound dropped 0.43 percent to trade at $1.3061, down from $1.3118 recorded late Thursday in New York. The pair GBPUSD was lingering at levels that have not seen since early September and looks set for a 2.5% weekly tumble, its biggest since the week ending October 7, 2016.

    Speculation that a general election could be called in the U.K. grew but Theresa May’s future was in doubt after she failed to win a majority in June’s national election. Especially after her speech at the Tory party conference on Wednesday which is called “disastrous”, there are rumors that the Prime Minister will be asked to step down by her own party.

    Trade suggestion

    Sell Stop at 1.30600, Take profit at 1.30200, Stop loss at 1.30800

    *********************************************************

    GBP/CAD

    From GMT 15:20 06/10/2017
    Till GMT 21:00 06/10/2017

    Sell at 1.63700
    Take profit at 1.63100
    Stop loss at 1.64000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40952

    Daily Report on October 04, 2017

    Asian shares traded higher on Wednesday, boosted by strong manufacturing activity across much of Asia, Europe and the United States which rose optimism about global growth. Meanwhile, Chinese central bank on Saturday freed up liquidity by cutting the amount of cash that some banks must hold as reserves for the first time since February 2016, helping support mainland financial stocks.

    MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.3 percent and extended its rally to a fourth straight day. Japanese and Hong Kong shares led Asian stocks higher with Japan’s Nikkei soaring to a more than two-year peak while Hong Kong’s Hang Seng Index climbing to a level not seen since May 2015. China and South Korea markets closed for week-long holidays.

    The Stoxx Europe 600 Index added 0.1 percent to trade at the highest level in more than 15 weeks. The U.K.’s FTSE 100 Index advanced less than 0.1 percent but hovered near the highest in eight weeks. Germany’s DAX Index reversed lower after having risen 0.4 percent.

    Crude oil futures remained weak on Wednesday after the American Petroleum Institute on Tuesday reported that U.S. crude supplies fell for a second week in a row but gasoline stockpiles rose 4.2 million barrels last week. Supply data from the Energy Information Administration will be released later in the day with analysts expecting a fall of 1.5 million barrels in crude inventories and a rise of 1.5 million barrels for gasoline.

    Technicals

    NZDUSD

    NZDUSD reversed lower after having hit a significant level at 50.0% Fibonacci retracement. The pair was also depressed by a couple of moving averages which are hanging above the price action, especially the short-term MA20. RSI index is heading downwards, indicating a strengthening bullish force in the market. A support at 0.71250 is within the sight.

    Trade suggestion

    Sell Stop at 0.71650, Take profit at 0.71250, Stop loss at 0.71850

    USDCHF

    Having been supported by two moving averages that are lingering below the price action, the pair USDCHF is tracking an uptrend with higher lows and higher highs formed in the chart. RSI index reversed higher and kept moving in the positive territory, signaling further advances for the currency pair. A strong resistance at 38.2% Fibonacci retracement is expected to be tested.

    Trade suggestion

    Buy Stop at 0.97350, Take profit at 0.97800, Stop loss at 0.97150

    NZDJPY

    NZDJPY has been moving sideways above a significant level at 38.2% Fibonacci retracement. The pair has been under downward pressure exerted by a couple of moving averages that are hanging above the price action. As the market has been dominated by sellers, the pair is expected to breach this tough handle and trade lower to test a support at 80.300.

    Trade suggestion

    Sell Stop at 80.700, Take profit at 80.300, Stop loss at 80.900

    BRENT

    Brent crude price has been tracing a downtrend that has sent the commodity to the lowest level in the last two weeks. RSI remained at lows while ADX index is experiencing a rise with a widening gap between –DI and +DI lines. The commodity is anticipated to tick lower in an attempt to test a support at 54.800.

    Trade suggestion

    Sell Stop at 55.450, Take profit at 54.800, Stop loss at 55.650

    GOLD

    Gold reversed lower after hitting a dynamic resistance at the short-term MA20 as well as a firm handle at the 61.8% Fibonacci retracement. RSI index also retreated to the negative territory, suggesting a recovering bearish force. The precious metal is expected to extend its downtrend to retest a support at 1268.00.

    Trade suggestion

    Sell Stop at 1275.00, Take profit at 1268.00, Stop loss at 1278.00

    COPPER

    Copper edged lower following a period of consolidation. The price action crossed over the short-term MA20 and is facing the long-term MA50. RSI pointed downward to the oversold zone, which shows a bearish market. As a result, the commodity is forecast to breach this dynamic support to retest yesterday’s low at 2.9235.

    Trade suggestion

    Sell Stop at 2.9455, Take profit at 2.9235, Stop loss at 2.9565

    ******************************************************

    EUR/AUD

    From GMT 12:00 04/10/2017
    Till GMT 21:00 04/10/2017

    Sell at 1.49600
    Take profit at 1.49100
    Stop loss at 1.49800

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40909

    Daily Report on October 03, 2017

    Tracking overnight strength on Wall Street, Asian shares were broadly stronger while European stocks opened higher on Tuesday. Stocks in Hong Kong and Japan led gains with Japan’s Nikkei 225 Stocks Average jumping 1.1 percent to the highest close since August 2015, while the Topix index climbing 0.7 percent. The Hang Seng China Enterprises gauge of mainland firms traded in Hong Kong reopened after a holiday on Monday, up 3.1 percent.

    The Hang Seng Index soared 1.8 percent. Markets in China and South Korea are closed for the entire week. Stoxx Europe 600 opened 0.1% higher at 390.50 while France’s CAC 40 index opened 0.2% higher at 5,362.82. Germany was closed for holiday while UK’s FTSE 100 index edged 0.1 percent lower, led by a fall of more than 2 percent in shares of Bae Systems following a downgrade to hold at Berernberg.

    The Aussie slipped more than 0.2 percent to trade at $0.7808 in early European trading session, heading for the seventh daily decline in the last nine trading days. As widely expected, the Reserve Bank of Australia kept its benchmark interest rate unchanged at a record-low 1.5%, where it has remained since August 2016.

    The currency deepened declines versus major rivals after Governor Philip Lowe gave no indication that the central bank is prepared to hike rate anytime soon given high household debt and weak wages growth. Mr. Lowe also warned that the appreciation of the Aussie which recently traded near two-year highs may hold back both economic recovery and prospect of inflation moving towards the RBA’s goal target of 2 percent.

    Technicals

    GBPJPY

    GBPJPY has been moving sideways above a firm support at 149.500. Under the downward pressure exerted by two moving averages that are hanging above the price action, the pair is expected to break out of this support to test another firm handle at 148.300. RSI index continue to trace down moves, whereas ADX index is witnessing –DI and +DI lines moving in different directions.

    Trade suggestion

    Sell Stop at 149.500, Take profit at 148.300, Stop loss at 150.00

    USDJPY

    Having been supported by a couple of moving averages that are lingering below the price action, the pair USDJPT rebounded after a period of moving sideways around a significant level at 50.0% Fibonacci retracement. The currency pair is forecast to sustain its bullish force to test a resistance at 113.600. RSI index is heading higher, confirming the signal.

    Trade suggestion

    Buy Stop at 113.200, Take profit at 113.600, Stop loss at 113.000

    WTI

    U.S. crude oil futures continued to trade lower after having been in a consolidation above a strong support at 50.300. The commodity appears to break out of this handle with the short-term MA20 crossing over the long-term MA50 from above, confirming a reversal into a downtrend. RSI index is ticking lower, suggesting further downbeat moves for the commodity.

    Trade suggestion

    Sell Stop at 50.200, Take profit at 49.300, Stop loss at 50.600

    GOLD

    Gold futures prices resumed its downtrend following a short correction at a one-and-a-half-month low logged yesterday. The precious metal has been depressed by a couple of moving averages that may send the price lower in an attempt to test a support at 1261.00. RSI is at as low as 32.13, indicating an overwhelming bearish force in the market.

    Trade suggestion

    Sell Stop at 1269.00, Take profit at 1261.00, Stop loss at 1273.00

    Natural Gas

    Natural Gas futures prices reversed lower following a correction that came after the commodity tumbled to a nearly-one-month low yesterday. Two moving averages are lingering above the price action with the short-term MA20 likely to penetrate the long-term MA50 from above. While the RSI index is heading downwards, the ADX index is on a rise with widening gap between –DI and +DI lines, suggesting further declines.

    Trade suggestion

    Sell Stop at 2.9050, Take profit at 2.8600, Stop loss at 2.9250

    NASDAQ 100 Index

    Nasdaq 100 index has been tracking a steady uptrend since it reversed higher from as low as 5840.00 logged late September. Two moving averages are lingering below the price action, supporting for the stock benchmark index. A resistance at 6010.00 is forecast to be tested given a market dominated by the buyers. RSI index is at as high as 62.17, confirming the signal.

    Trade suggestion

    Buy Stop at 5988.00, Take profit at 6010.00, Stop loss at 5977.00

    ********************************************************

    Aussie Extends Downward Rally Versus U.S. Dollar After RBA Talks Down Rate-hike Prospects

    Australian dollar continued to trade lower against its American counterpart on Tuesday after the nation’s central bank decided to leave its rate on hold. Meanwhile, the greenback has been supported amidst optimism that the Federal Reserve will raise rates at the end of this year.

    The Aussie slipped more than 0.2 percent to trade at $0.7808 in early European trading session, heading for the seventh daily decline in the last nine trading days. As widely expected, the Reserve Bank of Australia kept its benchmark interest rate unchanged at a record-low 1.5%, where it has remained since August 2016.

    The currency deepened declines versus major rivals after Governor Philip Lowe gave no indication that the central bank is prepared to hike rate anytime soon given high household debt and weak wages growth. Mr. Lowe also warned that the appreciation of the Aussie which recently traded near two-year highs may hold back both economic recovery and prospect of inflation moving towards the RBA’s goal target of 2 percent.

    Whereas, the U.S. dollar extended its rally against its peers with the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, up 0.13 percent to 93.75, its highest since August 17. Upbeat U.S. manufacturing data released on Monday, which indicated that U.S. of manufacturing activity climbed to a 13-month high of 60.8 in September, helped boost chances for a December rate hike by the Federal Reserve and the dollar.

    Trade suggestion

    Sell Stop at 0.77900, Take profit at 0.77500, Stop loss at 0.78100

    **********************************************************

    Sterling Slips To Three-week Lows Vs Dollar After Construction PMI Drops Below 50

    Sterling plunged to a nearly-three-week low versus the dollar on Tuesday after data showed activity in the UK construction sector in September contracted for the first time in 13 months.

    The British pound extended its downward rally against its American counterpart to a third consecutive trading day, sending the pair GBPUSD down more than 0.2 percent to trade at $1.3249 – the weakest level since September 14th.

    Financial data firm Markit on Tuesday reported that its construction purchasing managers’ index fell below the 50-point threshold that separates expansion from contraction for the first time since August 2016. Particularly, the index dropped to 48.1 in September from 51.1 in August, missing forecast calling for a reading of 51.1.

    Moreover, Sterling has been under pressure after UK Trade Secretary Liam Fox warned that the UK will have no choice but to walk away if the country fails to make a trade deal with the European Union by March.

    Trade suggestion

    Sell Stop at 1.32400, Take profit at 1.32000, Stop loss at 1.32600

    *******************************************************

    EUR/AUD

    From GMT 09:00 03/10/2017
    Till GMT 21:00 03/10/2017

    Sell at 1.50300
    Take profit at 1.50800
    Stop loss at 1.50100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40867

    Daily Report on October 02, 2017

    Global shares advanced on Monday with U.S. stock benchmarks opening at all-time intraday highs. Investors shrugged off a mass shooting event in Las Vegas that is being described as the worst in U.S. history, boosting demand for risky assets such as stocks after all three U.S. equity benchmarks posted weekly, monthly and quarterly gains last Friday.

    The S&P Index climbed more than 0.26 percent to hit a record intraday at 2,525.29, the Dow Jones Industrial Average soared 0.24 percent to trade at 22,451.22 – an all-time high level while the Nasdaq Composite Index also reached an intraday peak at 6,520.92, up 43 percent. European also traded higher with the Stoxx Europe 600 Index adding 0.2 percent to touch the highest in 14 weeks with its eighth consecutive advance.

    Supported by a weaker euro, Germany’s DAX Index reached the highest in 15 weeks on its sixth consecutive advance after marching 0.2 percent higher. The single currency weakened in the wake of political turmoil in Spain where police beat people trying to vote in an independence referendum in Catalonia. The U.K.’s FTSE 100 Index gapped up and jumped 0.6 percent to the highest in a month on the back of a weak Sterling.

    Crude oil futures tumbled on Monday after U.S. data showed a rise in domestic drilling while a Reuters survey indicated an increase in OPEC output last month. Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 6 to 750 last week, which marked the first increase in the last seven weeks. Meanwhile, a Reuters survey released on Friday showed the Organization of Petroleum Exporting Countries boosted output in September. The increase largely came from higher supplies from Iraq and Libya – an OPEC member exempt from cutting output.

    Technicals

    EURNZD

    EURNZD has been under pressure exerted by a downward trading line that connects lower highs. The pair once again reversed lower after having hit this resistance and is moving lower towards a significant level at 23.6% Fibonacci retracement. While the RSI index is edging lower, the ADX index is experiencing a rise with a widening gap between the –DI and +DI lines, which indicates a strengthening bearish force in the market as well as signals further declines for the pair.

    Trade suggestion

    Sell Stop at 1.62800, Take profit at 1.61800, Stop loss at 1.63300

    EURUSD

    EURUSD continued to trade higher after having gapped down in early trade on Monday. The price action crossed over the short-term MA20 from above and is heading towards a firm support at 1.16900. The RSI index is pointing downwards while the ADX index is ticking higher, suggesting further declines for the currency pair.

    Trade suggestion

    Sell Stop at 1.17400, Take profit at 1.16900, Stop loss at 1.17600

    CAC40

    France’s CAC 40 index has been tracing a strong uptrend which has sent the pair to the highest level in about four months. With the support from both the short-term MA20 and the long-term MA50, the pair is expected to sustain its bullish momentum to trade higher. Both ADX and RSI index are on a steady rise, which signals further advances for the stock index.

    Trade suggestion

    Buy Stop at 5345.00, Take profit at 5370.00, Stop loss at 5335.00

    COPPER

    Copper’s prices once again had to retreat after having hit a firm resistance at 2.9900. This time, the price action has penetrated a couple of moving averages from above, which confirms a reversal into a downtrend. RSI index has slipped under the 50 level, showing an overwhelming bearish force in the market. A significant level at 38.2% Fibonacci retracement is anticipated to be tested.

    Trade suggestion

    Sell Stop at 2.9350, Take profit at 2.9050, Stop loss at 2.500

    Natural Gas

    Natural gas tumbled after having reversed lower from a significant level at 38.2% Fibonacci retracement. The commodity was also under pressure from a couple of moving averages. The commodity is expected to inch lower as the market has been dominated by sellers. Whereas the RSI index fell to as low as 30.17, ADX index is on a rise with the –DI and +DI lines moving in different directions. A support at 2.8700 is within the sight.

    Trade suggestion

    Sell Stop at 2.9100, Take profit at 2.8700, Stop loss at 2.9300

    FTSE 100 Index

    FTSE 100 index gapped up on Monday and successfully sustain its bullish momentum to reach the highest level since September 12nd. With support from two moving averages that are lingering below the price action, the stock benchmark index is expected to surge higher to test a resistance at 7460.00. Both ADX and RSI index are rising strongly, confirming the signal calling for further advances for the index.

    Trade suggestion

    Buy Stop at 7425.00, Take profit at 7460.00, Stop loss at 7410.00

    ***************************************

    Crude Oil Plunges After Increases in U.S. Drilling Rigs and OPEC Output

    Crude oil futures tumbled on Monday after U.S. data showed a rise in domestic drilling while a Reuters survey indicated an increase in OPEC output last month.

    Contracts of Brent crude for December delivery on the ICE Futures Exchange in London dropped 2.15 percent to trade at $55.59 per barrel – the lowest level since September 20th. Crude oil prices reversed lower after having notched a third-quarter gain of about 20 percent, which is the biggest third-quarter increase since 2004.

    Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 6 to 750 last week, which marked the first increase in the last seven weeks.

    Meanwhile, a Reuters survey released on Friday showed the Organization of Petroleum Exporting Countries boosted output in September. The increase largely came from higher supplies from Iraq and Libya – an OPEC member exempt from cutting output.

    Trade suggestion

    Sell Stop at 55.590, Take profit at 54.990, Stop loss at 55.640

    *************************************************

    U.S. Equities Set New Record Highs After Manufacturing Index Soars To Peak Since 2004

    U.S. stock markets jumped to fresh record highs on Monday as bullish sentiment for risky assets was supported by optimism over U.S. President Donald Trump’s tax reform plan as well as a strong manufacturing index that surged dramatically to its highest level since 2004.

    The S&P 500 gained 0.26 percent to hit a record intraday at 2,525.29. Only two out of eleven major sectors of the index were trading in negative territory. Leading the overall performance, the Health Care sector soared by 0.67 percent, followed by Financials sector that gained 0.67 percent.

    The Institute for Supply Management (ISM) on Monday reported that its index of U.S. factory activity surged to a reading of 60.8 in September from 58.8 in August. The figure did not only easily beat forecast calling for a decline to a reading of 57.9, but also marked the highest reading since May 2004.

    Trade suggestion

    Buy Stop at 2,527.00, Take profit at 2535.00, Stop loss at 2523.00

    *********************************************

    GBP/USD

    From GMT 17:30 02/10/2017
    Till GMT 21:00 02/10/2017

    Sell at 1.32600
    Take profit at 1.32000
    Stop loss at 1.32900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40818

    Daily Report for September 29, 2017

    European shares advanced on Friday, on course for their best monthly gains this year after U.S. stock benchmark indices were at or near record highs in the previous session. In Asian trading session, MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4 percent, paring weekly losses to a 1.7 percent decline after falling for six days in a row.

    The index recorded a gain of around 4.7 percent for the quarter, completing its third quarterly gain, the best run since the end of the first quarter 2013. Likewise, the pan-European STOXX 600 steadied at a two-month high while the Eurostoxx 50 index at a three-month top. Germany’s DAX 30 index and U.K.’s FTSE 100 Index both added 0.2 percent.

    Among biggest movers on Friday, shares of Volkswagen AG led markets with shares shedding more than 3 percent after the German carmaker warned that its third-quarter operating result would be affected by a charge of around €2.5 billion ($2.94 billion) as a result of recalls in North America. Volkswagen is scheduled to publish third-quarter results on October 27.

    Data released by the Japan’s Statistics Bureau, the country’s core inflation accelerated in August and extended the upward rally to an eighth straight month. Indeed, nationwide core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, was reported to advance 0.7 percent, in line with forecast following a 0.5 percent rise in July.

    Meanwhile, Japan’s industrial production climbed 2.1 percent last month, beating an estimate of 1. 8 percent thanks to the fact that manufacturers of construction equipment, autos, and electronic parts produced more goods.

    Technicals

    AUDCAD

    As can be seen from the price chart, the pair AUDCAD has been under downward pressure exerted by two moving averages hanging above the price action. The pair has breached a firm support at 0.97500 and is heading downwards in an attempt to retest another strong support at 0.97000. While RSI index is edging lower, ADX index is on a rise, signaling further declines.

    Trade suggestion

    Sell Stop at 0.97400, Take profit at 0.97000, Stop loss at 0.97600

    GBPUSD

    The pair GBPUSD has been depressed by two moving averages which are lingering above the price action, especially the short-term MA20. The pair once again surpassed a strong support at 1.33800 and is edging lower to attempt a level at 1.33000. While ADX index is rising with a widening gap between the –DI and +DI lines, RSI index is ticking down, indicating a strengthening bearish force.

    Trade suggestion

    Sell Stop at 1.33600, Take profit at 1.33000, Stop loss at 1.33900

    AUDUSD

    AUDUSD reversed lower after having hit a strong resistance at 38.2% Fibonacci retracement. The price is expected to trade lower under downward pressure from a couple of moving averages. The pair is anticipated to test a support at 0.77900 with the market dominated by sellers, as indicated by RSI index that has plunged to as low as 36.77.

    Trade suggestion

    Sell Stop at 0.78300, Take profit at 0.77900, Stop loss at 0.78500

    GOLD

    As can be seen from the chart, the price action has been depressed by a couple of moving averages, especially the short-term MA20. The RSI index reversed lower, remaining in the bearish zone, indicating a recovering bearish force in the market. The precious metal is expected to trade lower, likely to test a significant level at 61.8% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 1286.00, Take profit at 1278.00, Stop loss at 1289.00

    USDCAD

    USDCAD rebounded from a dynamic support at the short-term MA20 after a period of moving sideways. The pair is anticipated to trade higher due to the fact the buyers are dominating in the market, as indicated by the RSI index that has edged up to as high as 62.00. A resistance at 1.25150 is anticipated to be tested.

    Trade suggestion

    Buy Stop at 1.24700, Take profit at 1.25150, Stop loss at 1.24500

    DAX

    Germany’s DAX 30 Index has been tracing an uptrend that has sent the stock benchmark index to the highest level since late June. The index is facing a strong resistance at 12750.00 but is expected to head higher. With both RSI and ADX index surging strongly which indicates a strengthening bullish force in the market, a resistance at 12830.00 is anticipated to be tested.

    Trade suggestion

    Buy Stop at 12750.00, Take profit at 12830.00, Stop loss at 12710.00

    *********************************************

    U.K. Stocks Soar to Two-week Highs As Sterling Declines Following Weaker-than-expected GDP Data

    U.K. stocks jumped to highest level in more than two weeks on Friday, heading for a second straight weekly gain thanks to a weak British Pound that came after a worse-than-expected Q2 GDP data.

    The benchmark FTSE 100 index soared dramatically nearly 0.6 percent to trade at 7,363.05 – the highest level since September 14th – with all sectors trading in the positive territory. The index looked set to close the week with a rise of 0.7 percent which would help to pare a monthly pullback to roughly 0.9%.

    Sterling dropped 0.57 percent in European morning trading session versus the dollar after the Office for National Statistics reported the second-quarter gross domestic product that was revised lower. According to the report, the final reading of year-on-year growth slipped to 1.5%, down from a previous estimate of 1.7%.

    A weak pound helps boost shares of multinational companies on the FTSE 100 due to the fact that their companies’ oversee earnings can be increased when converted back to sterling.

    Trade suggestion

    Buy Stop at 7365.00, Take profit at 7400.00, Stop loss at 7350.20

    ************************************************

    Volkswagen AG Increases Provisions on Modifying Diesel Vehicles in U.S., Shares Slip

    Shares of Volkswagen AG tumbled on Friday after the German car maker warned that its third-quarter operating result would be affected by higher costs associated with the repurchase of diesel cars in North America.

    Volkswagen’s equities shed more than 2.3 percent in European trading session to trade at 140.50 euro per share following the announcement that the company added provisions of around 2.5 billion euros ($2.94 billion) to the already amount of around 20 billion euros spending on its diesel emissions scandal.

    The German car maker said that settlements in North America proved to be “far more technically complex and time consuming” than expected which led to the increase in provisions as the company has to bear more costs from buyback and retrofitting programs for models fitted with its 2.01 TDI engine.

    Volkswagen is scheduled to publish third-quarter results on October 27.

    Trade suggestion

    Sell Stop at 140.50, Take profit at 139.00, Stop loss at 141.20

    *******************************************************

    Nasdaq 100 Index/

    From GMT 07:00 29/09/2017
    Till GMT 21:00 29/09/2017

    Buy at 5975.00
    Take profit at 6000.00
    Stop loss at 5965.00

  • #40763

    Daily Report on September 28, 2017

    The Kiwi slipped on Thursday versus the greenback after the Reserve Bank of New Zealand on Wednesday kept its interest rates unchanged at 1.75% and commented that the central bank does not expect to raise interest rates in near future given the fact that the economic growth outlook weakens and inflation slows.

    Meanwhile, the greenback was supported amidst hopes for an imminent tax reform plan in the U.S. as well as expectations for a December rate hike by the Federal Reserve. Upbeat data released on Wednesday on durable goods orders which showed a jump of 1.7% (versus forecast for 1% advance) following a 6.8% decrease also helped support the U.S. dollar.

    Trump on Wednesday proposed the biggest U.S. tax overhaul in three decades which offers tax cut for most Americans. However, the proposal faced an uphill battle in the U.S. Congress and prompted criticism that the plan favors the rich and companies as well as could widen the U.S. budget deficit.

    Crude oil futures rose on Thursday after Turkish President Tayyip Erdogan threatened to close Kurdistan region’s oil pipeline. The comment came after Monday’s referendum vote where Iraqi Kurdistan voted overwhelmingly in favor of independence. Erdogan also said that he could use military force to prevent the formation of an independent Kurdish state.

    Meanwhile, data released by the Energy Information Administration on Wednesday showed crude oil inventories fell by 1.8 million barrels last week while gasoline stockpiles added 1.1 million barrels which marked the first increase in four weeks. Refiners raised output following Hurricane Harvey last month, pushing U.S. production to the highest level in over two years. The report also indicated that domestic crude production edged up by 0.4% to 9.55 million last week to the highest level since July 2015.

    Technicals

    AUDNZD

    AUDNZD resumed its downtrend after a short correction which had sent the pair to as high as 1.08866. As can be seen from the chart, the pair has been under downward pressure exerted by two moving averages that are hanging above the price action. While the RSI index is heading downwards, the ADX index is ticking higher, suggesting further declines for the pair.

    Trade suggestion

    Sell Stop at 1.08500, Take profit at 1.08100, Stop loss at 1.08700

    WTI

    WTI crude prices tumbled from as high as 52.830 with recent down moves sending the price action below the short-term MA20. The pair is facing the long-term MA50 and is expected to break out of this dynamic support to test another firm handle at 50.300. The RSI index has plunged to as low as 46.17, indicating a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 51.300, Take profit at 50.300, Stop loss at 51.800

    Natural Gas

    Natural Gas plunged following a period of moving averages with its price action slipping below a couple of moving averages. The prices broke out of a significant level at 38.2% Fibonacci retracement and is expected to cross over another strong support at 2.9965. The RSI index is at a low level at 38.83, showing an overwhelming bearish force in the market.

    Trade suggestion

    Sell Stop at 3.0000, Take profit at 2.9750, Stop loss at 3.0100

    Dow Jones

    U.S. Dow Jones rebounded from a support at 22285.00 after a period of moving sideways. Two moving averages have twisted with the price action. Further advances are anticipated as the price action has broken out of two MAs. While RSI index is ticking higher, while ADX index is witnessing a widening gap between the +DI and –DI lines.

    Trade suggestion

    Buy Stop at 22380.00, Take profit at 22450.00, Stop loss at 22350.00

    S&P 500

    S&P 500 index has been supported by a couple of moving averages that are lingering below the price action. The stock benchmark index is expected to trade higher in an attempt to break out of the current period of moving sideways. The RSI index is on a rise while the +DI and –DI are moving in different directions. The index is forecast to test a resistance at 2520.00.

    Trade suggestion

    Buy Stop at 2510.00, Take profit at 2520.00, Stop loss at 2505.00

    ********************************************************

    Supported by Upbeat Data and Trump’s Tax Proposal, U.S. Dollar Edges Higher vs NZ Dollar

    The New Zealand dollar moved lower against its U.S. counterpart on Thursday, extending its downward rally to a fourth straight session in a row after the Reserve Bank of New Zealand left interest rates unchanged on Wednesday while U.S. President Donald Trump proposed the biggest U.S. tax overhaul in three decades.

    The Kiwi slipped more than 0.2 percent on Thursday versus the greenback after the RBNZ kept its interest rates unchanged at 1.75% and commented that the central bank does not expect to raise interest rates in near future given the fact that the economic growth outlook weakens and inflation slows.

    Meanwhile, the greenback was supported amidst hopes for an imminent tax reform plan in the U.S. as well as expectations for a December rate hike by the Federal Reserve. Upbeat data released on Wednesday on durable goods orders which showed a jump of 1.7% (versus forecast for 1% advance) following a 6.8% decrease also helped support the U.S. dollar.

    Trade suggestion

    Sell Stop at 0.71800, Take profit at 0.71400, Stop loss at 0.72000

    *********************************************************

    AUD/USD

    FromGMT 11:00 28/09/2017
    TillGMT 21:00 28/09/2017

    Sell at 0.78100
    Take profit at 0.78700
    Stop loss at 0.78300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40716

    Daily Report on September 27, 2017

    European share prices advanced on Wednesday as President Donald Trump’s administration prepared to outline a new tax plan which was said to be a “very, very powerful document” that would cut taxes “tremendously” for the middle class. The Stoxx Europe 600 Index jumped 0.2 percent to hit the highest in almost 10 weeks.

    Meanwhile, the U.K.’s FTSE 100 Index soared 0.4 percent to the strongest level in almost two weeks and Germany’s DAX Index rose 0.2 percent to the highest in almost 11 weeks. Futures on the S&P 500 Index gained 0.2 percent.

    The greenback was supported strongly amidst mounting expectations that the U.S. Federal Reserve will raise interest rates for the third time at the end of this year. The Federal Reserve Chair Janet Yellen on Tuesday echoed her colleague – New York Federal Reserve President William Dudley’s comments that the central bank needs to continue gradual interest rate hikes despite uncertainty about the path of inflation.

    While Dudley claimed that factors depressing inflation are “fading” and the U.S. economy’s fundamentals are sound, Yellen said it would be “would be imprudent to keep monetary policy on hold until inflation is back to 2%,” Following Yellen’s speech, the chance that the Fed will raise borrowing costs in December rose to 76 percent.

    Crude oil futures were little changed Wednesday after the American Petroleum Institute on Tuesday reported U.S. crude stockpiles fell by 761,000 barrels for the week ended September 22nd. Weekly supply data from the U.S. government will be released later in the day. Markets forecast that the Energy Information Administration would report a climb of 1.3 million barrels in crude inventories.

    Technicals

    USDJPY

    USDJPY extended its upward rally after having rebounded from the 38.2% Fibonacci retracement and crossed over the short-term MA20. The price action is facing another Fibonacci level at 50.0% and is expected to break out of this handle as the market has still been supported by buyers. The ADX index and the RSI index are both rising, indicating a strong bullish force in the market.

    Trade suggestion

    Buy Stop at 112.950, Take profit at 113.450, Stop loss at 112.750

    EURUSD

    EURUSD appears to experience a correction after hitting the lowest level since August 21st at 1.17300. Recent sharp down moves have sent the market into the oversold zone, as indicated by the RSI index that has plunged to as low 23.0098. However, ADX index is still on a rise, signaling further declines for the pair. A support at 1.16900 is anticipated to be tested.

    Trade suggestion

    Sell Stop at 1.17300, Take profit at 1.16900, Stop loss at 1.17500

    GBPUSD

    GBPUSD has been tracing a downtrend that has sent the pair to the weakest level since September 14th at 1.33800. The short-term MA20 has penetrated the long-term MA50 from above, confirming the reversal into a downtrend. Further declines are expected for the pair as the RSI index is pointing downwards. A support at 1.33000 is within the sight.

    Trade suggestion

    Sell Stop at 1.33800, Take profit at 1.33000, Stop loss at 1.34200

    GBPAUD

    GBPAUD has surpassed a significant level at 61.8% Fibonacci retracement after a period of times moving below this handle. With the support from two moving averages lingering below the price action, the pair is anticipated to sustain its rally and retest a one-and-a-half month highs at 1.71600. RSI index is heading upwards, confirming signals for further advances.

    Trade suggestion

    Buy Stop at 1.71000, Take profit at 1.71600, Stop loss at 1.70700

    AUDNZD

    Under pressure exerted by two moving averages that are hanging above the price action, the pair AUDUSD has tumbled below the 23.6% Fibonacci retracement. The pair looks set to test a firm support at 1.8400 as the market has been dominated by sellers. RSI index which is at as low 43.97 signals further declines for the pair.

    Trade suggestion

    Sell Stop at 1.08900, Take profit at 1.08400, Stop loss at 1.09100

    DAX

    DAX 30 index gapped up on Wednesday and has liberated from a period of moving sideways to rise to the highest level since mid-July. With the support from two moving averages that are moving below the price action, the stock benchmark index is expected to trade higher in an attempt to test a resistance at 12750.00. Both RSI and ADX indices are on a rise, suggesting further advances.

    Trade suggestion

    Buy Stop at 12680.00, Take profit at 12750.00, Stop loss at 12650.00

    ****************************************************

    New Zealand Dollar Loses Ground Vs The Greenback After Yellen’s Speech, Markets Await RBNZ

    New Zealand dollar tumbled for the third day in a row versus its American counterpart ahead of the RBNZ’s monetary policy meeting scheduled later in the day. The greenback was supported strongly amidst mounting expectations that the U.S. Federal Reserve will raise interest rates for the third time at the end of this year.

    The Kiwi lost more than 0.2 percent to trade at 0.7192 dollar in European trading session. The Federal Reserve Chair Janet Yellen on Tuesday echoed her colleague – New York Federal Reserve President William Dudley’s comments that the central bank needs to continue gradual interest rate hikes despite uncertainty about the path of inflation.

    While Dudley claimed that factors depressing inflation are “fading” and the U.S. economy’s fundamentals are sound, Yellen said it would be “would be imprudent to keep monetary policy on hold until inflation is back to 2%,”

    Following Yellen’s speech, the chance that the Fed will raise borrowing costs in December rose to 76 percent. Later on Thursday, the Reserve Bank of New Zealand is due to hold a policy meeting and is expected to leave interest rates unchanged at 1.75%. However, investors will look for fresh hints on the bank’s future policy decisions.

    Trade suggestion

    Sell Stop at 0.71800, Take profit at 0.71400, Stop loss at 0.72000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40662

    Daily Report on September 26, 2017

    U.S. stocks were lower after the close on Monday with the Dow Jones Industrial Average declining 0.24%, the S&P 500 index shedding 0.22%, and the NASDAQ Composite index tumbling by 0.88%. Asian shares also traded lower while gold futures prices extended their rally to a third consecutive trading session on Tuesday as escalating geopolitical tensions on the Korean Peninsula fuelled safe-haven demand.

    Japan’s Topix index swung between gains and losses while Hong Kong’s Hang Seng Index was little changed. The latter stock benchmark index tumbled 1.4 percent on Monday, depressed by Chinese property developers after China tightened controls on housing sales at eight major Chinese cities on Friday and over the weekend. South Korea’s Kospi index lost 0.3 percent and Australia’s S&P/ASX 200 Index slipped 0.2 percent.

    According to news reported by South Korea’s Yonhap news agency, Pyongyang has been boosting defenses on its east coast after U.S. bombers flew close to the Korean peninsula at the weekend. After Trump claimed on Twitter that North Korean leader Kim Jong Un and Foreign Minister Ri Yong Ho “won’t be around much longer” if they acted on their threats, Ri said that Trump’s Twitter comments were tantamount to a declaration of war and that Pyongyang had the right to take countermeasures.

    Crude oil futures continued to jump high on Tuesday after Turkish President Tayyip Erdogan threatened to cut off the pipeline, which usually pumps between 500,000-600,000 barrels per day and carries oil from northern Iraq to the outside world. This act aimed at intensifying pressure on the Kurdish autonomous region over its independence referendum.

    Technicals

    EURUSD

    EURUSD continued to plunge following a short correction that had supported the pair to hit a resistance at 1.18600. The price has fallen to the lowest level in more than one month and looks set to inch down further in an attempt to test a support at 1.17500. While RSI index is heading downwards, the ADX index is on a rise with a widening gap between +DI and –DI lines, suggesting further declines.

    Trade suggestion

    Sell Stop at 1.18100, Take profit at 1.17500, Stop loss at 1.18400

    AUDUSD

    As can be seen from the chart, AUDUSD has been under pressure exerted by two moving averages that are hanging above the price action. As indicated by the RSI index that has tumbled to as low as 38.65, the market has been dominated by sellers. ADX index is rising with a widening distance between the –DI and +DI lines, signaling further declines for the pair.

    Trade suggestion

    Sell Stop at 0.79150, Take profit at 0.78800, Stop loss at 0.79300

    EURJPY

    EURJPY resumed its downward rally after having reversed lower from a consolidation above the level 132.000. Two moving averages are lingering above the price action, depressing pressure on the price. While ADX index is witnessing a widening gap between the +DI and –DI lines, the RSI index is edging lower. The pair is expected to test a support at 131.200.

    Trade suggestion

    Sell Stop at 131.950, Take profit at 131.200, Stop loss at 132.300

    NZDJPY

    NZDJPY has been tracing a downtrend that extended to a fourth consecutive day. The price action has tumbled below a significant level at 38.2% Fibonacci retracement and may slip further as the market has been dominated by sellers. RSI index was down to 34.25, which indicates an overwhelming bearish momentum in the market and suggests further downbeat moves for the currency pair.

    Trade suggestion

    Sell Stop at 80.600, Take profit at 80.200, Stop loss at 80.800

    USDCHF

    USDCHF rebounded from a significant level at 23.6% Fibonacci retracement where the pair was also supported by the long-term MA50. The price action surged above the short-term MA20, which signals a reversal into an uptrend. Both RSI and ADX indices are rising, confirming the signal. A resistance at 0.97400 is within the sight.

    Trade suggestion

    Buy Stop at 0.97000, Take profit at 0.97400, Stop loss at 0.96800

    COPPER

    Copper prices have been tracing an uptrend whose recent up moves have sent the price action above both the short-term MA20 and the long-term MA50. The commodity is anticipated to tick higher in an attempt to test a firm resistance at 2.9900. RSI index has risen to 54.71 which indicates an overwhelming bullish force in the market.

    Trade suggestion

    Buy Stop at 2.9550, Take profit at 2.9900, Stop loss at 2.9400

    ***********************************************

    Global Shares Under Pressure of Tensions on the Korean Peninsula, Gold Extends Gains

    Gold futures prices extended their rally to a third consecutive trading session on Tuesday as escalating geopolitical tensions on the Korean Peninsula fuelled safe-haven demand. The precious metal hold on gains after having jumped sharply in the previous session.

    Contracts for November gold added 0.35 percent in Asian trading session after having closed at the highest level in nearly a week on Monday. The metal has been supported by a heated exchange of rhetoric between Trump and Kim over North Korea’s nuclear and missile programs after North Korea conducted its sixth and most powerful nuclear test on Sept. 3.

    According to news reported by South Korea’s Yonhap news agency, Pyongyang has been boosting defenses on its east coast after U.S. bombers flew close to the Korean peninsula at the weekend. Leaders on both sides continued to exchange threats and insults.

    After Trump claimed on Twitter that North Korean leader Kim Jong Un and Foreign Minister Ri Yong Ho “won’t be around much longer” if they acted on their threats, Ri said that Trump’s Twitter comments were tantamount to a declaration of war and that Pyongyang had the right to take countermeasures.

    U.S. stocks were lower after the close on Monday with the Dow Jones Industrial Average declining 0.24%, the S&P 500 index shedding 0.22%, and the NASDAQ Composite index tumbling by 0.88%. Meanwhile, Asian shares also traded lower.

    Trade suggestion

    Buy Stop at 1312.00, Take profit at 1320.00, Stop loss at 1308.00

    ***************************************************

    EUR/CHF
    From GMT 16:00 26/09/2017
    Till GMT 21:00 26/09/2017

    Sell at 1.14150
    Take profit at 1.13700
    Stop loss at 1.14350

    ***********************************************

    AUD/CAD
    From GMT 20:00 26/09/2017
    Till GMT 21:00 26/09/2017

    Sell at 0.97550
    Take profit at 0.97200
    Stop loss at 0.97700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40601

    Daily Report on September 25th, 2017

    European shares edged higher, helped by the weaker euro on Monday as market participants digested the outcome of the German general election held on Sunday. The Stoxx Europe 600 Index rose 0.1 percent and the Germany’s DAX Index added 0.1 percent to trade at the highest in more than 10 weeks.

    The result pointed to a win for Chancellor Angela Merkel’s conservative alliance with a much smaller share of the vote. Angela Merkel won a fourth term as German chancellor but her conservative block only took 33 percent of the vote, down 8.5 points from the 2013 election. This was the lowest level since 1949, caused by Markel’s decision to allow 1 million migrants into Germany two years ago.

    Meanwhile, the country’s main far-right party, Alternative for Germany, posted a surprisingly strong result, scoring 12.6 percent in the national election on Sunday. The AfG will be the first far-right party to enter the German parliament in more than half a century. Although Merkel’s party is still the biggest parliamentary bloc, she will have to build an uneasy coalition to form a government. The prospect of a potentially unstable coalition with the pro-business Free Democrats (FDP) and Greens weighed down the euro and stocks in the auto sector.

    Several Federal Reserve speakers are scheduled to make public appearances on Monday including New York Fed President William Dudley and Chicago Fed President Charles Evans. Fed Chairwoman Janet Yellen and Fed Vice Chair Stanley Fischer are due to deliver speeches on Tuesday and Thursday, respectively.

    Technicals

    EURAUD

    The pair EURAUD gapped down on Monday and continued to trade lower following a short correction. The price action has crossed over a couple of moving averages which confirmed a reversal into a downtrend. While the RSI index is heading downward, the ADX index is on a rise with a widening gap between the –DI and +DI lines, suggesting further declines for the pair.

    Trade suggestion

    Sell Stop at 1.49300, Take profit at 1.48700, Stop loss at 1.49600

    USDCHF

    Supported by two moving averages, especially the short-term MA20, the pair continued to track its upward rally after having surpassed a resistance at 0.96972. The price action is heading upwards in an attempt to reach a significant level at 38.2% Fibonacci level. Both ADX and RSI indices are on a rise, indicating a strengthening bullish momentum in the market.

    Trade suggestion

    Buy Stop at 0.97300, Take profit at 0.97800, Stop loss at 0.97100

    EURJPY

    EURJPT reversed lower from a firm resistance at 134.373 with recent down moves sending the market into the negative territory, as indicated by the RSI index that has plunged to as low as 43.18. The ADX index is on a strong rise with a widening gap between the –DI and –DI lines, which indicates a strengthening bearish momentum in the market.

    Trade suggestion

    Sell Stop at 133.000, Take profit at 132.200, Stop loss at 133.400

    BRENT

    Brent crude prices resumed its rally following a period of moving sideways. The commodity’s price has been supported by a couple of moving averages. Although the RSI index has jumped into the overbought zone, the ADX index is rising with a widening distance between the +DI and –DI lines. The pair is expected to test a resistance at 58.500.

    Trade suggestion

    Buy Stop at 57.400, Take profit at 58.500, Stop loss at 57.000

    COPPER

    As can be seen from the chart, copper prices have been under pressure exerted by two moving averages that are hanging above the price action. The commodity failed to sustain its bearish momentum below the 38.2% Fibonacci retracement but is likely to break this level again as the bear is still dominating on the market.

    Trade suggestion

    Sell Stop at 2.9300, Take profit at 2.8750, Stop loss at 2.9550

    FTSE 100 Index

    Supported by the short-term MA20, the price action reversed higher after having gapped down in early trade. The U.K.’s stock benchmark index recovered early losses with the bull still overwhelming in the market. RSI is at 51.97, in the positive zone that suggests further advances for the index. A resistance at 7350.00 is expected to be tested.

    Trade suggestion

    Buy Stop at 7300.00, Take profit at 7350.00, Stop loss at 7280.00

    ***********************************************

    Brent Crude Jumps to Two-Year Highs on Rising Expectations of Fast-growing Demand

    Brent crude rose to a more-than-two-year highs on Monday, supported by rising expectations that fast-growing demand would help erase a global glut. Meanwhile, a historic but non-binding referendum on independence of Iraqi Kurds is raising regional tensions and fears of instability which caused a threat to Iraqi Kurdistan’s crude exports.

    Contracts for Brent crude for November delivery, the global benchmark, soared dramatically by 2.81% to trade at $58.500 a barrel on the ICE Futures Europe exchange. Brent oil has been supported by upward revisions to demand expectations. According to data published by the International Energy Agency earlier in September, its estimate for demand growth in 2017 was increased by 100,000 barrels a day to 1.6 million a day.

    Meanwhile, the U.S. Energy Information Administration lowered its forecasts for 2017 and 2018 U.S. crude-oil production to average 9.25 million barrels per day in 2017, down 1% from the previous forecast.

    Trade suggestion

    Buy Stop at 58.500, Take profit at 59.500, Stop loss at 58.000

    **************************************

    Euro Plunges After Markel’s Conservative Block Weakened by A Surge in Support for The Far Right.

    The euro tumbled against major rivals on Monday as market participants digested the outcome of the German general election held on Sunday. The result pointed to a win for Chancellor Angela Merkel’s conservative alliance with a much smaller share of the vote.

    The single currency gapped down versus the dollar in early trade, sending the pair EURUSD down more than 0.3 percent to trade at $1.19100. Angela Merkel won a fourth term as German chancellor but her conservative block only took 33 percent of the vote, down 8.5 points from the 2013 election. This was the lowest level since 1949, caused by Markel’s decision to allow 1 million migrants into Germany two years ago.

    Meanwhile, the country’s main far-right party, Alternative for Germany, posted a surprisingly strong result, scoring 12.6 percent in the national election on Sunday. After having narrowly missing out on Bundestag seats four years ago, the AfG, with new leadership and a campaign focused on immigration, will be the first far-right party to enter the German parliament in more than half a century.

    Although Merkel’s party is still the biggest parliamentary bloc, she will have to build an uneasy coalition to form a government. The prospect of a potentially unstable coalition with the pro-business Free Democrats (FDP) and Greens weighed down the euro and stocks in the auto sector.

    Several Federal Reserve speakers are scheduled to make public appearances on Monday including New York Fed President William Dudley and Chicago Fed President Charles Evans. Fed Chairwoman Janet Yellen and Fed Vice Chair Stanley Fischer are due to deliver speeches on Tuesday and Thursday, respectively.

    Trade suggestion

    Sell Stop at 1.19000, Take profit at 1.18600, Stop loss at 1.19200

    ***************************************************

    USD/CAD

    From GMT 06:20 25/09/2017
    Till GMT 21:00 25/09/2017

    Buy at 1.23600
    Take profit at 1.24100
    Stop loss at 1.23400

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40534


    Daily Report on September 22, 2017

    Asian stocks tumbled while European shares opened lower on Friday after the nine-day rally on Wall Street came to an end in the previous session. At the close in NYSE on Thursday, the Dow Jones Industrial Average dropped 0.24%, while the S&P 500 index shed 0.30%, and the NASDAQ Composite index shed, 0.52%. U.S. equities were dragged down by a selloff of in the tech sector with a slump in shares of Apple.

    Meanwhile, global stock markets have been under pressure amidst escalating tensions on the Korean peninsula following comments from North Korea’s Foreign Minister Ri Yong Ho who on Friday reportedly said the North could consider a hydrogen bomb test on the Pacific Ocean of an unprecedented scale in respond to fresh sanctions from the U.S. and its allies.

    Earlier, North Korean leader Kim Jong Un escalated a war of words with U.S. President Donald Trump, saying that Pyongyang will consider the “highest level of hard-line countermeasure in history” against the U.S. action to further isolate the nation.

    MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.7 percent, pulling back from a decade high logged on Tuesday. South Korea’s KOSPI index tumbled by 0.9 percent while Japan’s Nikkei shed 0.4 percent as the Yen strengthened on the back of latest bout of geopolitical tensions. Futures on the S&P 500 Index retreated 0.3 percent after the underlying benchmark having dropped 0.3 percent on Thursday.

    Hong Kong’s Hang Seng slipped 0.8 percent and Shanghai Composite Index plunged by 0.5 percent after S&P Global Ratings on Friday said China’s attempts to reduce risks from its rapid buildup in debt are not working as quickly as expected while its credit growth is still too fast. S&P previously on Thursday downgraded China’s long-term sovereign credit rating given increasing risks from its rapid debt build-up.


    Technicals

    USDJPY

    The currency pair USDJPY rebounded from a significant level at 38.2% Fibonacci retracement where it also received support from the short-term MA20. The RSI index also reversed losses to continue moving upwards which indicating a dominating bullish force in the market. The pair is expected to test a resistance at 112.700.

    Trade suggestion

    Buy Stop at 112.100, Take profit at 112.700, Stop loss at 111.800

    EURUSD

    EURUSD rebounded from a firm support at 1.18700 and sent its price action above a couple of moving averages. The RSI index has soared to as high as 56.44, indicating the strengthening bullish momentum in the market. Meanwhile, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, signaling further advances for the pair.

    Trade suggestion

    Buy Stop at 1.19800, Take profit at 1.20300, Stop loss at 1.19600

    NZDJPY

    NZDJPY rebounded from a support at 81.300 following a slump from as high as 82.700. The pair is retesting a resistance at 23.6% Fibonacci retracement after surpassing the short-term MA20 from below. The RSI index pulled back from the 50 line, suggesting a recovering bullish force in the market. The resistance at 82.700 is expected to be tested again.

    Trade suggestion

    Buy Stop at 81.900, Take profit at 82.700, Stop loss at 81.500

    Natural gas

    Natural Gas futures prices have fallen into a consolidation after having plunged sharply from a resistance at 3.0830. The price tumbled to the lowest level since September 12nd with recent losses sending the market into the oversold zone. Following the correction, the commodity’s price is expected to trade lower to test a firm support at 2.8800.

    Trade suggestion

    Sell Stop at 2.9500, Take profit at 2.8800, Stop loss at 2.9800

    WTI

    As can be seen from the chart, the U.S. West Texas Intermediate’s futures have been supported by a couple of moving averages, especially the short-term MA20. While the RSI index is ticking higher, the ADX index is resurging with the +DI line crossing over the –DI line, signaling further advances for the commodity’s prices.

    Trade suggestion

    Buy Stop at 50.800, Take profit at 51.500, Stop loss at 50.500

    CAC 40 Index

    France’s CAC 40 Index has been moving sideways to higher around the level 5274.00. The stock benchmark index gapped down at the open on Friday but soon recovered early losses. With the market dominated by bulls, as indicated by the RSI index that is lingering in the overbought zone, the price is anticipate to trade higher in an attempt to test a resistance at 5310.00.

    Trade suggestion

    Buy Stop at 5280.00, Take profit at 5310.00, Stop loss at 5265.00

    *************************************************

    Canadian Dollar Turns Lower after Core Retail Sales and Inflation Readings Miss Forecasts

    The Canadian dollar declined versus its American counterpart after data on core retail sales and inflation rose less than forecast in August.
    The pair USDCAD paired early losses to trade at 1.23089, recovering from as low as 1.22520. A report published by the Statistics Canada showed retail sales increased by 0.4% in August after a 0.1% advance in the prior month. The reading beat analysts’ expectations calling for a 0.1% gain.
    However, the core reading was weaker than forecast. Indeed, core retail sales advanced only 2 percent in August. July’s figure was also revised downward to 0.4 percent from an initial 0.7% increase.
    Canadian inflation also rose less than forecast in August, increasing only 0.1% from the previous month. The CPI index failed to reach forecasts for a 0.2% gain after a flat reading in July. On a yearly basis, CPI jumped 1.4% last month, lower than expectations for a 1.5% rise.

    Trade suggestion

    Buy Stop at 1.23100, Take profit at 1.23500, Stop loss at 1.22900

    **********************************************

    NZD/USD

    From GMT 16:00 22/09/2017
    Till GMT 21:00 22/09/2017

    Buy at 0.73300
    Take profit at 0.73700
    Stop loss at 0.73100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40473

    Daily Report on September 21, 2017

    Asian shares slipped while European equity futures jumped on Thursday after the conclusion of policy meetings held by the U.S. Federal Reserve and the Bank of Japan. The MSCI’s broadest dollar-denominated index of Asia-Pacific shares outside Japan dropped 0.5 percent with losses led by Australian shares which lost as much as 0.8 percent.

    Japan’s Topix index climbed less than 0.1 percent at the close in Tokyo after having pared wiped out almost all the session’s advance of as as much as 0.7 percent. While the Kospi index shed 0.2 percent, the Hong Kong’s Hang Seng Index and the Shanghai Composite Index swung between gains and losses. By contrast, futures contracts on Euro Stoxx 50 rose 0.4 percent.

    The dollar jumped dramatically versus its major rivals on Thursday after the Fed decided to keep its interest rates unchanged in a range of 1 percent to 1.25 percent as widely expected. The central bank announced that it would start shrinking its $4.5 trillion balance sheet next month and trimming its massive holding of U.S. Treasury bonds and mortgage-backed securities that it acquired in the years after the 2008 financial crisis.

    The Fed continued to reiterate that interest rates are likely to rise at a “gradual” pace given steady growth and low unemployment which is expected to boost inflation closer to their 2% goal. The central bank signaled that it expects one more interest rate hike by the end of the year with the consideration that hurricane damage are unlikely to affect the economy in the medium term. In its new set of projections, the Fed estimates that three quarter-point rate hikes would be appropriate next year.

    Meanwhile, although the Bank of Japan kept its monetary stimulus unchanged on Thursday as expected by economists, the Yen lost ground after a dovish new board member said the effects of the current yield curve program of the Japanese central bank weren’t strong enough which would not be able to bolster inflation higher towards BOJ’s target by the projected time frame of around fiscal 2019.

    Technicals

    AUDUSD

    AUDUSD reversed lower from a nearly-two-week high yesterday to tumble below a couple of moving averages. The pair has breached a strong support at 0.79550 which has prevented the price from falling lower since early September. Although the RSI index has plunged into the oversold zone, ADX indicator is witnessing the –DI line crossing over the +DI line, which indicates a strengthening bearish momentum in the market. The support at 0.78800 is within the sight.

    Trade suggestion

    Sell Stop at 0.79400, Take profit at 0.78800, Stop loss at 0.79700

    USDCHF

    As can be seen from the chart, USDCHF has been supported by a couple of moving averages. The pair did not only breach a significant level at 23.6% Fibonacci retracement but also surpassed a firm resistance at 0.96972. The pair is heading upwards towards another Fibonacci level at 38.2%. Both ADX and RSI indices are rising, showing a strong bull run in the market.

    Trade suggestion

    Buy Stop at 0.97350, Take profit at 0.97800, Stop loss at 0.97150.

    USDCAD

    USDCAD appeared to extend its uptrend following a short consolidation that came after the pair spiked a two-week high yesterday. The pair has been tracing an upbeat rally in general, as indicated by higher lows and higher highs formed on the price chart. A resistance at 1.24200 is expected to be tested as the market is still dominated by buyers.

    Trade suggestion

    Buy Stop at 1.23500, Take profit at 1.24200, Stop loss at 1.23200

    SILVER

    Under the downward pressure exerted by the short-term MA20, the commodity continued to trade lower with its price action falling below a firm support at 17.050. Silver is heading downward to test a significant level at the 38.2% Fibonacci level as the market has been dominated by the sellers. While the RSI index has fallen into the oversold zone, the ADX index is on a rise with a widening gap between the –DI and the +DI lines.

    Trade suggestion

    Sell Stop at 16.900, Take profit at 16.750, Stop loss at 16.970

    GOLD

    Gold extended its downward rally after having failed to penetrate the short-term MA20. The precious metal fell below a firm support at 1305.00 and has tumbled to the lowest level in nearly a month at 1294.16. While RSI index is heading lower, ADX index is resurging, signaling further downbeat moves for the gold prices.

    Trade suggestion

    Sell Stop at 1294.00, Take profit at 1283.00, Stop loss at 1299.00

    COPPER

    Copper prices have been depressed by a pair of moving averages which helped send the pair below a strong support at 2.9350. The metal price slumped to the weakest level since mid-August and is anticipated to breach the 38.2% Fibonacci level. A another firm support at 2.8750 is expected to be tested.

    Trade suggestion

    Sell Stop at 2.9200, Take profit at 2.8750, Stop loss at 2.9400

    ***********************************************

    Dollar Reaches Two-month Highs Versus Yen On the back of Diverging Monetary Policies

    The dollar jumped dramatically versus its Japanese counterpart on Thursday after the conclusion of policy meetings held by the U.S. Federal Reserve and the Bank of Japan which delivered diverging monetary policies.

    The greenback shone and soared to the highest level in two months versus the Yen in Asian trading session on Thursday, sending the pair USDJPY 0.17 percent higher to trade at as high as 112.40 yen per dollar. According to the Federal Open Market Committee’s statement released after a two-day meeting starting on Tuesday in Washington, the Fed decided to keep its interest rates unchanged in a range of 1 percent to 1.25 percent as widely expected.

    However, the central bank announced that it would start shrinking its $4.5 trillion balance sheet next month and trimming its massive holding of U.S. Treasury bonds and mortgage-backed securities that it acquired in the years after the 2008 financial crisis.

    The Fed continued to reiterate that interest rates are likely to rise at a “gradual” pace given steady growth and low unemployment which is expected to boost inflation closer to their 2% goal. The central bank signaled that it expects one more interest rate hike by the end of the year with the consideration that hurricane damage are unlikely to affect the economy in the medium term. In its new set of projections, the Fed estimates that three quarter-point rate hikes would be appropriate next year.

    Following the Fed’s statement, Fed fund rate futures rose to a 65 percent chance of a rate hike by December from around 50 percent before the latest meeting. The dollar; therefore, was supported strongly amidst expectations over the central bank raising rates in the near futures.

    Meanwhile, although the Bank of Japan kept its monetary stimulus unchanged on Thursday as expected by economists, the Yen turned lower against its major rivals after a dovish new board member said the effects of the current yield curve program of the Japanese central bank weren’t strong enough which would not be able to bolster inflation higher towards BOJ’s target by the projected time frame of around fiscal 2019.

    Markets are awaiting a news conference by its governor which is scheduled to be held later in the day.

    Trade suggestion

    Buy Stop at 112.500, Take profit at 112.900, Stop loss at 112.300

    *****************************************************

    Technology Shares Lead Losses, S&P 500 Index To End Four-Day Win Streak

    U.S. shares turned lower on Thursday as market participants digested the result of the Federal Reserve’s decision to start unwinding its stimulus program last month and signal that the central bank may raise rates at the end of this year.

    The S&P 500 shed 0.3% to trade at 2,501.00, falling from a record logged yesterday. The decline threatens to end a four-consecutive-day win streak for the stock benchmark index. Nine of the 11 primary S&P 500 sectors were trading in the negative territory on Thursday, with technology shares leading declines.

    Shares of Nvidia Corp. plunged more than 4 percent after reports that its customer Tesla is working with its rival – chipmaker Advanced Micro Devices – to develop its own A.I. chip for self-driving cars. Meanwhile, shares of Apples remained weak after the technology giant on Wednesday admitted some problems with wireless connectivity for its new Apple Watch 3.

    The Fed on Wednesday decided to keep its interest rates unchanged in a range of 1 percent to 1.25 percent as widely expected. The central bank announced that it would start shrinking its $4.5 trillion balance sheet next month and trimming its massive holding of U.S. Treasury bonds and mortgage-backed securities that it acquired in the years after the 2008 financial crisis.

    Trade suggestion

    Sell Stop at 2500.00, Take profit at 2490.00, Stop loss at 2505.00

    *******************************************************

    EUR/AUD

    From GMT 03:00 21/09/2017
    Till GMT 21:00 21/09/2017

    Buy at 1.50400
    Take profit at 1.50900
    Stop loss at 1.50200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40424

    Daily Report on September 20, 2017

    Asian shares were steady on Wednesday even after U.S. stocks continued to set new record highs in the previous session. The U.S. dollar slipped lower against most of its peers as market participants were waiting for the conclusion of the Federal Reserve’s two-day meeting. At the close in NYSE, the Dow Jones Industrial Average climbed 0.18% to close at a new all-time high, the S&P 500 index added 0.11%, while the NASDAQ Composite index gained 0.10%.

    MSCI’s broadest index of Asia-Pacific shares outside Japan inched less than 0.1 percent higher with Australia and Taiwan stocks lower after the close on Wednesday. At the close in Sydney, the S&P/ASX 200 lost 0.12%. Meanwhile Japan’s Nikkei was roughly flat. By contrast, Shanghai’s SSE Composite Index rose 0.3 percent and Hong Kong’s Hang Seng .HSI advanced by 0.2 percent.

    The Federal Reserve is scheduled to reveal its monetary policy stance later in the day. Although the central bank is not expected to raise rate in its September meeting, fresh clues on the future path of the bank to raise rates are widely awaited. The Fed is also anticipated to provide details on unwinding part of the central bank’s $4.5 trillion balance sheet.

    Crude oil futures climbed higher on Wednesday after having shed 0.9 percent in the previous session. The American Petroleum Institute on Tuesday reported that U.S. inventories expanded by 1.44 million barrels last week following a build of 6.18 million barrels in the preceding week. The reading was well below the 3.9-million-barrel increase projected by analysts. Official data released by the government is due to come out later in the day.

    Technicals

    NZDJPY

    New Zealand dollar continued to trade higher versus its Japanese counterpart, heading to a fourth daily gain in a row. Recent surges sent the pair above a significant level at 23.6% Fibonacci retracement. While the RSI index has jumped into the overbought territory, the ADX index continued to rise with a widening gap between the +DI and –DI lines, which signals further advances for the pair.

    Trade suggestion

    Buy Stop at 82.100, Take profit at 82.500, Stop loss at 81.900

    GBPAUD

    GBPADU extended losses which came after the pair hit a strong resistance at 1.69850. The price action did not only tumbled below a significant level at 50.0% Fibonacci retracement but also crossed over the short-term MA20 from above, which indicates a reversal into a downtrend. As the RSI index has plunged to the negative territory, the pair is expected to trade lower to test a support at 38.2% Fibonacci level.

    Trade suggestion

    Sell Stop at 1.68100, Take profit at 1.67300, Stop loss at 1.68500

    EURAUD

    EURAUD resumed its downward rally following a short correction. The price action has breached both the short-term MA20 and the long-term MA50 which signals a reversal into a downtrend. RSI index has edged to as low as 43.43 – a level below 50 that suggests a strengthening bearish force in the market. A support at 23.6% Fibonacci retracement is within the sight.

    Trade suggestion

    Sell Stop at 1.49000, Take profit at 1.48500, Stop loss at 1.49200

    AUDNZD

    As can be seen from the chart, the pair AUDNZD has been under downward pressure exerted by two Mas that are hanging above the price action. The market has been dominated by sellers which are expected to send the pair lower to breach a significant level at 23.6% Fibonacci retracement. A support at 1.08800 is anticipated to be tested.

    Trade suggestion

    Sell Stop at 1.09250, Take profit at 1.08800, Stop loss at 1.09450

    WTI

    U.S. West Texas Intermediate crude prices have been trading in a range between a support at 49.200 and a resistance at 50.300 for nearly one week. The commodity gapped up on Wednesday and looks set to break out of this range from below. Two Mas are supporting for the price action. As the bull is still dominating in the market, crude oil price is expected to trade higher to test the level 51.000.

    Trade suggestion

    Buy Stop at 50.400, Take profit at 51.000, Stop loss at 50.100

    GOLD

    Gold has been tracing a steady uptrend which has brought its price action above both the short-term MA20 and the long-term MA50. Furthermore, the short-term MA20 has crossed over the long-term MA50, signaling a reversal into an uptrend. Both ADX and RSI indices are rising, indicating a strong bullish momentum in the market and suggesting further advances for the precious metal.

    Trade suggestion

    Buy Stop at 1316.00, Take profit at 1323.00, Stop loss at 1313.00

    *****************************************

    Earnings Hit by Cyber-attack and Hurricane Harvey, FedEx Shares Slip

    Shares of FedEx Corp. reversed lower on Tuesday after having closed the regular trading session 0.5% higher. Shares were hit after the courier delivery services company reported fiscal first-quarter earnings below expectations.

    FedEx’s shares lost nearly 1.4 percent in after-hours trading on Tuesday after the Memphis, Tennessee-based company cited a cyber-attack and Hurricane Harvey as causes for its plunge in earnings. FedEx reported earnings of $596 million, or $2.19 a share for the last quarter, down from $715 million, or $2.65 a share, in the year-ago period.

    Adjusted for one-time items, FedEx posted EPS of $2.51, also down from $2.82 a share recorded a year ago. Meanwhile, revenue was reported to advance to $15.3 from 14.7 billion a year ago.

    The logistics company said that its revenue was affected by the TNT Express cyber-attack, which offset results from higher base rates, while it had to bear more expenses from higher costs at FedEx Ground, higher tax rates, and the impact from Hurricane Harvey.

    FedEx downgraded its 2018 adjusted fiscal-year earnings forecast from a previous range of $12.45 to $13.25 to a range of $11.05 to $11.85. This range is well below analysts’ forecast for earnings of $13.01 per share for the full year.

    Trade suggestion

    Sell Stop at 213.00, Take profit at 211.00, Stop loss at 214.00

    *************************************************

    Oil Futures Shrug Off Large Build in U.S. Inventories, On Course for Largest Q3 Gain in 13 Years

    Crude oil futures prices surged strongly to the highest level in nearly four months on Wednesday even after the release of U.S. data that showed domestic stockpiles rose more than expected last week.

    Contracts of West Texas Intermediate crude for November delivery advanced 1.8 percent to $50.79 a barrel, which is the strongest level since May 25th. Oil prices briefly softened on Wednesday after data from the U.S. Energy Information Administration Wednesday indicated that domestic crude supplies climbed by 4.6 million barrels for the week ended September 15.

    The reading was well above analysts’ forecast calling for a rise of 2.4 million barrels while a report published by the American Petroleum Institute late Tuesday showed a build of 1.4 million barrels only.

    Oil is heading towards its largest third-quarter gain in 13 years as prices were supported by comments from Iraqi oil minister who claimed that the Organization of the Petroleum Exporting Countries and its allies are extending or deepening output cuts in an attempt to reduce a global supply glut.

    Speaking at an energy conference on Tuesday, Iraqi oil minister Jabar al-Luaibi said that OPEC and other producers are considering a range of options to help rebalance the crude oil market and prop up the price after the current agreement’s expiries in March. Crude oil prices have risen about 16 percent this quarter, on course for the strongest third-quarter performance since 2004.

    Trade suggestion

    Buy Stop at 50.750, Take profit at 51.250, Stop loss at 50.500

    ***************************************

    USD/CAD

    From GMT 11:30 20/09/2017
    Till GMT 21:00 20/09/2017

    Sell at 1.22400
    Take profit at 1.21600
    Stop loss at 1.22800

    * All trading involves risk. Only risk capital you are prepared to lose

  • #40110


    Daily Report on September 08, 2017

    Asian shares edged higher on Friday while the U.S. dollar tumbled to its weakest levels since the start of 2015 after the European Central Bank kept its rates unchanged while investors kept a wary eye on another U.S. storm which may cause potential economic damage to Florida after devastation in Texas caused by Hurricane Harvey.

    The historically powerful Hurricane Irma remained an extremely dangerous Category 5 storm, the highest designation by the National Hurricane Center (NHC).

    MSCI’s broadest index of Asia-Pacific shares outside Japan ticked 0.1 percent higher but looked set to close the week 0.2 percent lower. Pressured by a stronger yen, Japan’s Nikkei stock index slipped 0.5 percent while the Topix index was little changed. South Korea’s Kospi index and Australia’s S&P/ASX 200 index lost 0.1 percent and 0.2 percent, respectively. By contrast, the Hang Seng Index advanced 0.5 percent in Hong Kong.

    According to data released by the Customs General Administration of China, the country’s trade balance data narrowed in August, coming in at a surplus of $41.99 billion. Analysts had expected China’s trade surplus to widen to $48.5 billion in August from July’s $46.7 billion. China’s exports were reported to rise 5.5%, compared to a gain of 6.0% expected while imports remained robust with a jump of 13.3%.

    Meanwhle, Japan’s Cabinet Office reported that domestic economy grew less than the government’s preliminary estimate in the second quarter. The reading for second-quarter economic growth rate was revised down to an annualized 2.5 percent from 4 percent, weaker than expectations for a revision to 2.9 percent.

    Technicals

    GBPJPY

    GBPJPY has been tracing an uptrend after having rebounded from the significant level at 23.6% Fibonacci level. The price action has crossed over a couple of moving averages, indicating a strengthening bullish force in the market. RSI index has soared to as high as 57.75, which signals further advances for the currency pair.

    Trade suggestion

    Buy Stop at 142.200, Take profit at 142.650, Stop loss at 142.000

    EURGBP

    EURGBP retreated after having failed to surpass a couple of moving averages that are hanging above the price action. The prices has fallen below a support at 0.91343 and looked set to trade lower in an attempt to test another strong support at 0.90700. RSI index has plunged to 37.62, indicating a dominating bearish power in the market.

    Trade suggestion

    Sell Stop at 0.91150, Take profit at 0.90700, Stop loss at 0.91350

    Natural Gas

    Natural Gas futures prices extended its downward rally following a period of moving sideways around the level 2.9600. The commodity’s price action has been below both the short-term MA20 and the long-term MA50. RSI index continued to point lower while ADX index is surging with a widening gap between the –DI and +DI lines, suggesting a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 2.9500, Take profit at 2.9200, Stop loss at 2.9750

    Dow Jones 30

    U.S. Dow Jones 30 Index failed to surpass a couple of moving averages, especially the short-term MA20 which forced the price action to reverse lower. The stock benchmark index retested the weakest level since September 05th and is likely to trade lower in an attempt to test a support at 21650.00. RSI index is heading downwards, confirming the downtrend.

    Trade suggestion

    Sell Stop at 21720.00, Take profit at 21650.00, Stop loss at 21750.00

    *********************************************

    Copper Futures Tumble After China’s August Copper Imports Hold Steady

    Copper futures prices turned south on Friday, on track for their largest one-day decline in weeks. The metal’s prices were under pressure after data released earlier in the day showed Chinese copper imports were flat in August from the previous month.

    Copper for November delivery tumbled by nearly 3 percent to trade at $3.0480 a pound on the Comex division of the New York Mercantile Exchange in the last trading session of the week. The contract was set to close the week lower, potentially halting the eight-straight-week streak of gains. That is the longest winning run since 2006.

    According to data released by the Customs General Administration of China, China’s imports of copper and copper products came in at 390,000 tons, holding steady for a fourth month in August.

    Trade suggestion

    Sell Stop at 3.0480, Take profit at 3.0220, Stop loss at 3.0600

    *****************************************************

    GBP/USD

    From GMT 08:00 08/09/2017
    Till GMT 21:00 08/09/2017

    Buy at 1.31500
    Take profit at 1.32000
    Stop loss at 1.31250

  • #40035


    Daily Report on September 06, 2017

    Asian shares declined on Wednesday, tracking Wall Street’s slide overnight amidst escalating tensions in the Korean Peninsula. Wall Street stocks closed lower with the Dow Jones Industrial Average shedding 1.07 percent, to 21,753.31, the Nasdaq Composite dropping 0.93 percent, to 6,375.57, and the S&P 500 losing 0.76 percent, to close at 2,457.85.

    MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.7 percent as investors shied away from risky assets due to concerns over a potential intercontinental ballistic missile launch by Pyongyang which is forecast to be processed around Sept. 9, when North Korea marks the anniversary of its foundation in 1948. Japanese Yen continued to gain ground versus its major peers, sending Japan’s Nikkei to a four-month low after losing 0.3 percent.

    Equities slid from Tokyo to Sydney with Australian stocks ticking 0.6 percent lower. South Korea’s KOSPI index extended its downward rally to the fourth consecutive trading day, down 0.3 percent. While Shanghai dropped 0.4 percent, Hong Kong’s Hang Seng retreated 1 percent. The S&P 500 contracts were little changed.

    Tensions between North Korea and the U.S. escalated further after one of the country’s top diplomats on Tuesday said that Pyongyang is ready to send “more gift packages” to the United States. Meanwhile, the U.S., Russia, Japan and China are struggling for methods to pressure Kim Jong Un to abandon his nuclear ambitions. Whereas Japan backed the U.S., calling for additional measures against North Korea, Russian President Vladimir Putin rejected U.S. calls for more sanctions, echoing China’s resistance to more punitive measures.

    Technicals

    GBPNZD

    As can be seen from the chart, the pair GBPNZD has been supported by two MAs that are hanging below the price action. The price is facing the short-term MA20 and is likely to surpass this dynamic resistance to trade higher. RSI index is tracing an uptrend which indicates a strengthening bullish momentum in the market.

    Trade suggestion

    Buy Stop at 1.80500, Take profit at 1.81200, Stop loss at 1.80200

    WTI

    U.S. crude prices resumed its up moves following a period of consolidation which came after the price action surpassed a significant level at 23.6% Fibonacci level. While the RSI index has jumped into the overbought zone, the ADX index continued to head higher with a widening distance between the +DI and –DI lines. Further advances are expected.

    Trade suggestion

    Buy Stop at 48.800, Take profit at 49.600, Stop loss at 48.400

    Natural Gas

    Natural Gas futures prices tumbled after having failed to surpass a significant resistance at 38.2% Fibonacci retracement. The commodity sent its price action below both the short-term MA20 and the long-term MA50. RSI index continued to point lower while ADX index is surging with a widening gap between the –DI and +DI lines, suggesting a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 2.9550, Take profit at 2.9200, Stop loss at 2.7000

    FTSE 100 Index

    U.K.’s FTSE 100 Index extended its down moves on Wednesday, sending its prices lower below a couple of MAs. The market fell deeper in the bearish territory, as indicated by the RSI index that has plunged to as low as 36.19. Further declines are expected for the index with a strong support of 7290.00 within the sight.

    Trade suggestion

    Sell Stop at 7330.00, Take profit at 7290.00, Stop loss at 7350.00

    ************************************************

    Canadian Dollar Jumps to 27-month Highs Versus Dollar After BOC Hikes Rate

    The Canadian dollar rose sharply against its American counterpart on Wednesday after the Bank of Canada unexpectedly raised interest rates by 25 basis points.

    The pair USDCAD fell to as low as 1.21300 right after the rate hike report, which is the lowest level since mid-June 2015 before retreating a little bit. The pair lost 1.24% to trade at 1.22210 in morning trading session on Wednesday. The Bank of Canada raised its interest rate to 1% from 0.75% after its monetary policy meeting, marking its second rate hike this year after the first increase in July.

    The central bank said that Canadian economy is becoming more broad-based and self-sustaining given supportive economic data, such as its second quarter GDP which was reported to beat expectations and narrowed trade deficit.

    Trade suggestion

    Sell Stop at 1.22100, Take profit at 1.22700 Stop loss at 1.22300

    *******************************************************

    AUD/USD

    From GMT 04:45 06/09/2017
    Till GMT 21:00 06/09/2017

    Sell at 0.79750
    Take profit at 0.79350
    Stop loss at 0.79950

  • #40007

    Daily Report on September 05, 2017

    Global shares remained fragile in Asian and European trading session while U.S. stocks were poised to open lower on Tuesday, amid lingering unease over North Korean plans for a ballistic missile launch after the country conducted its sixth nuclear test on Sunday.

    Whereas the Stoxx Europe 600 Index struggled for direction, the MSCI Asia Pacific Index was little changed after the close following a decline of 0.6 percent on Monday, which is the steepest drop since August 11th. U.S. markets reopened on Tuesday after having been closed for trade on Monday in observance of Labor Day.

    Japan’s Topix index plunged 0.8 percent at the close as the Japanese Yen extended gains. South Korea’s Kospi index lost 0.1 percent and Hong Kong’s Hang Seng Index fluctuated. By contrast, Australia’s S&P/ASX 200 Index added 0.1 percent while with stock benchmark indexes in China and Singapore were in positive territories.

    Futures on the S&P 500 Index sank 0.3 percent. The dollar retreated a little bit after a speech made by Fed Governor Lael Brainard. The Fed policymaker on Tuesday claimed that U.S. inflation is falling “well short” of target. Therefore, Brainard said that the central bank should be cautious about raising its interest rates further.

    Technicals

    USDCAD

    USDCAD remained week, extending its downward rally following a period of consolidation. The pair tumbled to a low of 1.23390 last Friday – the lowest level since late-June 2016. The pair is likely to keep heading downwards as the bear is dominating in the market. Indeed, while the RSI index is pointing lower, ADX index is on a rise with a widening gap between the –DI and +DI lines.

    Trade suggestion

    Sell Stop at 1.23700, Take profit at 1.23000, Stop loss at 1.24000

    USDJPY

    USDJPY has been tracing a downtrend after rebounding from a strong resistance at 23.6% Fibonacci level. The price action crossed over both the short-term MA20 and the long-term MA50 from above, indicating a strong bearish momentum. RSI continued to edge lower, suggesting further declines for the currency pair. A support at 108.700 is forecast to be tested.

    Trade suggestion

    Sell Stop at 109.100, Take profit at 108.700, Stop loss at 109.300

    SILVER

    As can be seen from the price chart, silver prices have been moving sideways to higher with support from two MAs that are lingering below the price action. The bullish momentum is strengthening in the market, as indicated by a rising RSI index which has soared to as high as 65.18. Further advances are anticipated with a resistance at 18.100 within the sight.

    Trade suggestion

    Buy Stop at 17.940, Take profit at 18.100, Stop loss at 17.860

    Natural Gas

    Natural Gas futures prices tumbled after having failed to surpass a significant resistance at 38.2% Fibonacci retracement. The commodity has sent its price action below the short-term MA20 and looks set to tick lower towards the long-term MA50. RSI index has dropped below the 50 level, suggesting a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 2.9800, Take profit at 2.9400, Stop loss at 3.000

    FTSE 100 Index

    U.K.’s FTSE 100 Index reversed lower, sending its price action back below a couple of moving averages. The short-term MA20 has crossed over the long-term MA50 from above, confirming a reversal into a downtrend. The market has jumped into the bearish territory, as indicated by the RSI index that has plunged to as low as 40.56. Further declines are expected for the index.

    Trade suggestion

    Sell Stop at 7395.00, Take profit at 7370.00, Stop loss at 7405.00

    *********************************************

    New Zealand Dollar Takes Off versus the Greenback After GDT Auction Prices Tick Up

    The New Zealand dollar traded sharply higher versus its American counterpart on Tuesday after reports showed prices in the latest Global Dairy Trade (GDT) auction in New Zealand advanced while new orders for U.S.-made goods recorded their biggest drop in nearly three years in July.

    The Kiwi jumped more than 1.3 percent against the U.S. dollar in North American trading session on Tuesday to the highest level since August 30th. The price index reported an increase of 0.3% at the 5th sale of the 2017/18 season following a 0.4% decline at the previous sale.

    Although whole Milk Powder prices fell 1.6% after having declined by 0.6% previously and Skim Milk Powder prices fell 1.2%, butter prices recorded an increase of 3.8% from the previous auction to just below the $6,000 per tonne.

    Meanwhile, turning to the greenback, the Commerce Department reported that factory goods orders tumbled 3.3 percent in July amid a slump in demand for transportation equipment. While June’s data was revised upwards to show orders rising 3.2 percent, adding 0.2% from previously reported of 3.0 percent surge, July’s reading marked biggest drop since August 2014.

    Trade suggestion

    Buy Stop at 0.72500, Take profit at 0.72900 Stop loss at 0.72300

    *******************************************************

    U.S. Shares Tumble on geopolitical tensions, Yen Gains Ground Against Euro

    The Japanese Yen surged to a more-than-one-week high versus the euro on Tuesday as haven currencies like the yen and the Swiss franc sustained their steam following North Korea’s latest nuclear test.

    The pair EURJPY plunged by 0.7 percent to trade at as low as 129.61 yen per euro in North American trading session on Tuesday – the lowest level since August 25th. The yen was supported as elevated geopolitical tensions on the Korean Peninsula sapped investors’ confidence in risky assets.

    South Korea’s Defense Ministry on Monday reported that Pyongyang is making preparations for the possible launch of another intercontinental ballistic missile. The next weapons test is forecast to be processed around Sept. 9, when North Korea marks the anniversary of its foundation in 1948.

    U.S. shares traded lower on Tuesday. The Nasdaq Composite Index lost more than 1.4%, the Dow Jones Industrial Average was down 1.08% and the S&P 500 shed 1.00%.

    Trade suggestion

    Sell Stop at 129.600, Take profit at 129.100 Stop loss at 129.800

    *******************************************************

    EUR/NZD

    From GMT 08:00 05/09/2017
    Till GMT 21:00 05/09/2017

    Sell at 1.65500
    Take profit at 1.65000
    Stop loss at 1.65750

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39891

    Daily Report on August 31, 2017

    Tracing bullish sentiment on Wall Street boosted by upbeat U.S data in the previous session, Asian shares advanced further also thanks to data that underscored the resilience of Chinese economies. MSCI’s broadest index of Asia-Pacific shares outside Japan added more than 0.2 percent, looking set to close the month 0.7 percent higher. Equity benchmarks rose in Australia, Taiwan, Singapore and Malaysia but retreated in South Korea and China.

    Data showed the U.S. economy grew at an upwardly revised 3 percent annualized pace in the second quarter, the fastest pace in two years in the wake of robust consumer spending and strong business investment. The greenback surged to the highest level in two weeks versus the Japanese Yen. A pullback in Yen helped Japan’s equities trade higher. Japan’s Nikkei surged 0.6 percent to its best level in two weeks, still down 1.5 percent on the month though. The Topix index also rose 0.6 percent.

    Copper for December delivery on the Comex division of the New York Mercantile Exchange climbed more than 0.6 percent to trade at $3.1065 per lb, heading for a third monthly gain in a row. The price also reached its highest point since mid-September 2014, bolster by data that reflected healthy growth at China’s factories in August.

    Expectations of better metals demand were fed after China Federation of Logistics and Purchasing (CFLP) reported that China’s official factory gauge further strengthened in August. Indeed, the manufacturing purchasing managers index jumped to 51.7 in August from the 51.4 reading in July. This month’s figure easily topped market forecast for a small dip to 51.3.

    Technicals

    USDCAD

    USDCAD has been tracing a steady uptrend that had sent the pair to as high as 1.26471 – the highest level since August 18th. The bull is dominating in the market, as indicated by the RSI index that has stepped into the overbought territory. Further advances are anticipated with a resistance at 1.26900 within the sight.

    Trade suggestion

    Buy Stop at 1.26500, Take profit at 1.26900, Stop loss at 1.26300

    NZDUSD

    Under downward pressure exerted by two moving averages that are hanging above the price action, the pair NZDUSD has breached a significant support at 38.2% Fibonacci retracement and slumped to the lowest level since June 06th. While RSI index continued to tick lower, ADX index is on a rise, showing a strong bear in the market. A support at 0.71200 is expected to be tested.

    Trade suggestion

    Sell Stop at 0.71600, Take profit at 0.71200, Stop loss at 0.71800

    GBPNZD

    GBPNZD rebounded from a support at 1.79200 and is heading higher in an attempt to test a significant level at 38.2% Fibonacci retracement – the highest level since early June. Although RSI index has soared to the overbought zone, ADX index is on a strong rise with a widening gap between +DI and –DI lines. The rally is forecast to be extended.

    Trade suggestion

    Buy Stop at 0.80600, Take profit at 0.81400, Stop loss at 0.80200

    BRENT

    Brent crude oil prices resumed its downtrend following a short correction that came after its price action had broken below a significant level at 23.6% Fibonacci retracement. The commodity is anticipated to test a firm support at 50.000 as the market has been dominated by a strengthening bearish momentum. RSI is ticking lower, signaling further declines.

    Trade suggestion

    Sell Stop at 50.650, Take profit at 50.000, Stop loss at 51.000

    GOLD

    Gold reversed lower to extend its downtick following a period of consolidation. The precious metal’s price action crossed over the short-term MA20 and is on track to test the long-term MA50 which is at around 1295.00. RSI index has inched down to linger below the 50 level, which indicates a strengthening bearish momentum in the market.

    Trade suggestion

    Sell Stop at 1302.00, Take profit at 1295.00, Stop loss at 1305.00

    NASDAQ 100

    U.S. Nasdaq 100 index breached a strong resistance at 5935.00 yesterday. That was the level that the stock benchmark index failed to break through since mid-August. Both RSI index and ADX index are edging higher, indicating a strengthening bullish force in the market. The index is expected to extend its rally and retest an all-time record high at 5990.00.

    Trade suggestion

    Buy Stop at 5945.00, Take profit at 5990.00, Stop loss at 5925.00

    ********************************************
    Industrial Metals Given Fresh Boost After China Data, FTSE 100 Heads to Monthly Gains

    Stock markets pushed higher in European trading session on Thursday thanks to data that indicated the resilience of the American and Chinese economies. U.K. shares were also on a strong rise, extending their rally to a second straight day after having fallen to a one-week low earlier this week.

    The FTSE 100 index jumped more than 0.5 percent to 7400.00 following an advance of 0.4% in the previous session. The stock benchmark index was on track to close the month modestly 0.1 percent higher. The overall performance was supported by gains in the basic materials group that helped offset losses in the oil and gas sector.

    Industrial metals’ prices were given fresh boost on Thursday in the wake of data that reflected healthy growth at China’s factories in August. Copper for December delivery on the Comex division of the New York Mercantile Exchange climbed more than 0.6 percent to trade at $3.1065 per lb, heading for a third monthly gain in a row.

    Expectations of better metals demand were fed after China Federation of Logistics and Purchasing (CFLP) reported that China’s official factory gauge further strengthened in August. Indeed, the manufacturing purchasing managers index jumped to 51.7 in August from the 51.4 reading in July. This month’s figure easily topped market forecast for a small dip to 51.3.

    Topping the list of gainers on the FTSE 100, shares of copper producer Antofagasta PLC soared more than 4.6 percent while those of Anglo American PLC and Glencore PLC advanced by 2.79% and 2.59%, respectively. Shares of iron ore producer BHP Billiton PLC added 1.65%.

    Trade suggestion

    Buy Stop at 7400.00, Take profit at 7440.00, Stop loss at 7380.00

    ********************************************************

    China Factory Gauge Rises Unexpectedly, COMEX Copper To Close The Month Higher

    The three-month COMEX copper contract’s prices gapped up in Asian trading session on Thursday, bolster by data that reflected healthy growth at China’s factories in August.

    Copper for December delivery on the Comex division of the New York Mercantile Exchange climbed more than 0.6 percent to trade at $3.1065 per lb, heading for a third monthly gain in a row. The price also reached its highest point since mid-September 2014.

    Expectations of better metals demand were fed after China Federation of Logistics and Purchasing (CFLP) reported that China’s official factory gauge further strengthened in August. Indeed, the manufacturing purchasing managers index jumped to 51.7 in August from the 51.4 reading in July. This month’s figure easily topped market forecast for a small dip to 51.3.

    Trade suggestion

    Buy Stop at 3.1070, Take profit at 3.1300, Stop loss at 3.1000

    *****************************************************

    EUR/USD
    From GMT 08:15 31/08/2017
    Till GMT 21:00 31/08/2017

    Sell at 1.18500
    Take profit at 1.18000
    Stop loss at 1.18700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39862

    Daily Report on August 30, 2017

    Global shares advanced on Wednesday as tensions surrounding North Korea eased. Following Asian shares that closed higher, European stocks were on a rise with almost every sector of the Stoxx Europe 600 Index climbing. The index rose 0.5 percent while the U.K.’s FTSE 100 Index and the Germany’s DAX Index recorded the biggest advance in more than a week. The former jumped 0.3 percent and the latter added 0.6 percent.

    In Asian trading session, the MSCI Asia Pacific Index rose 0.2 percent. Japan’s equities also traded higher as the Japanese yen lost ground and fell 0.2 percent to 109.96 per dollar. The Topix index climbed 0.6 percent at the close in Tokyo. The Kospi index and the Hang Seng Index soared 0.3 percent and 1.2 percent, respectively. Australia’s S&P/ASX 200 Index and the Shanghai Composite Index were flat.

    Crude oil futures prices dipped on Wednesday in spite of a large drop in U.S. stocks. The American Petroleum Institute on Tuesday reported that U.S. crude oil inventories fell by an estimated 5.8 million barrels last week. Analysts had expected a draw of 1.9 million barrels. On the New York Mercantile Exchange crude futures for October delivery dipped nearly 0.3% to $46.31.

    Data released by the Australian Bureau of Statistics earlier today showed the value of construction work done in Australia increased 9.3 percent last quarter, beating estimates calling for a rise 0.9 percent. Whereas, monthly building approvals were reported to fall 1.7 in July, topping expectations for a 5 per cent fall.

    Technicals

    GBPJPY

    GBPJPY has been tracing an uptrend that had sent its price action above a significant level at 23.6% Fibonacci retracement. With the support from two MAs that are lingering below the price action, the pair is anticipated to test a strong resistance at 143.000. RSI is at as high as 70.60, indicating a dominating bullish force in the market and signaling further advances.

    Trade suggestion

    Buy Stop at 142.300, Take profit at 143.000, Stop loss at 142.000

    AUDUSD

    AUDUSD tumbled from a one-month high at 0.79950 with its price action dropping below the short-term MA20. The long-term MA50 is expected to be broken below as the market has jumped into the negative territory side because the RSI index plunged to as low as 48.48. A support at 0.78800 is forecast to be tested.

    Trade suggestion

    Sell Stop at 0.79300, Take profit at 0.78800, Stop loss at 0.79500

    USDJPY

    USDJPY resumed its downtrend following a short consolidation that came after the pair surpassed a firm resistance at 108.750. While the RSI index is heading higher, ADX index is also on experiencing some upticks, which indicates a strengthening bullish momentum in the market. A resistance at 23.6% Fibonacci level is within the sight.

    Trade suggestion

    Buy Stop at 110.100, Take profit at 110.600, Stop loss at 109.900

    WTI

    U.S. crude oil futures prices have been trading sideways to lower above the level 46.100. The commodity has been under downward pressure exerted from two MAs that are hanging above the price action and is expected to move lower as the market has been dominated by sellers. RSI index is at as low as 29.82, suggesting further declines.

    Trade suggestion

    Sell Stop at 46.050, Take profit at 45.150, Stop loss at 46.500

    GOLD

    Under downward pressure depressed by two MAs hanging above, gold failed to surpass these two dynamic resistances. Additionally, the short-term MA20 has crossed over the long-term MA50 from above, suggesting a reversal into a downtrend. RSI index has tumbled to as low as 41.29, indicating a dominating bearish force in the market.

    Trade suggestion

    Sell Stop at 1306.00, Take profit at 1298.00, Stop loss at 1310.00

    *******************************************************

    Dollar Turns Higher Versus Euro Following Better-than-expected U.S. Data

    The U.S. dollar rebounded on Wednesday, sending its European counterpart back down to the lowest level since last Friday. The pair EURUSD tumbled from two-and-a-half-year highs logged yesterday after data showed U.S. employments and growth rates were better than expected.

    The currency pair lost more than 0.5 percent to trade at as low as $1.19100 per euro, paring earlier gains which had sent the pair to a high of $1.20692 – the level that had not been seen since early 2015. The dollar gained ground versus most of its peers after the Automatic Data Processing reported that U.S. private employers added 237,000 jobs in August.

    The figure was well above economists’ expectations which called for a gain of 183,000 jobs.

    Later in the week, the U.S. Labor Department will release its August nonfarm payrolls report at on Friday amid expectations that the data will show jobs growth of 180,000 in August, following an increase of 209,000 last month. The unemployment rate forecast to hold steady at 4.3% while average hourly earnings are expected to rise 0.2% after adding 0.3% a month earlier.

    Besides data on U.S. job market, figures on second-quarter economic growth were also released. The Commerce Department reported that U.S. economic rose at 3% rate in the three-month period to June. The reading was revised up from an initial rate of 2.6% and marked the fastest quarterly growth rate in more than two years following a rise of 1.2% in the first quarter.

    Stronger consumer spending was the main cause for the upward revision. Indeed, consumer spending was reported to jump at the rate of 3.3% last quarter, up from the government’s original estimate of a 1.9% gain.

    Trade suggestion

    Sell Stop at 1.19100, Take profit at 1.18700, Stop loss at 1.19300

    *************************************************************

    Supported by Upbeat U.S. Data, SP500 Index Heads For The 4th Straight Daily Gain

    U.S. shares were mostly higher on Wednesday after data showed U.S. employments and growth rates were better than expected.

    The S&P 500 added 0.25% to trade at 2451.00, on track for its fourth straight daily increase. Eight out of 11 main sectors were trading higher, led by gains in Materials and Financials. The Automatic Data Processing reported that U.S. private employers added 237,000 jobs in August, which was well above economists’ expectations which called for a gain of 183,000 jobs.

    Later in the week, the U.S. Labor Department will release its August nonfarm payrolls report at on Friday amid expectations that the data will show jobs growth of 180,000 in August.

    Besides data on U.S. job market, figures on second-quarter economic growth were also released. The Commerce Department reported that U.S. economic rose at 3% rate in the three-month period to June. The reading was revised up from an initial rate of 2.6% and marked the fastest quarterly growth rate in more than two years following a rise of 1.2% in the first quarter.

    Trade suggestion

    Buy Stop at 2453.00, Take profit at 2460.00, Stop loss at 2450.00

    ***************************************************

    EUR/AUD

    From GMT 05:50 30/08/2017
    Till GMT 21:00 30/08/2017

    Sell at 1.49800
    Take profit at 1.49400
    Stop loss at 1.50000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39811


    Daily Report on August 29, 2017

    Escalating geopolitical tensions sapped investors’ appetite for risky investments. Asian shares and U.S. stock futures tumbled on Tuesday, causing investors to pile into safe-havens assets such as the Japanese Yen, gold, Swiss franc and U.S. Treasuries. South Korea’s Kospi index led declines across the region, losing 1.2 percent. The S&P/ASX 200 Index and Hong Kong’s Hang Seng Index dropped 0.9 percent and 0.4 percent, respectively.

    The Topix index declined 0.3 percent on the back of a strengthening Yen. The yen advanced 0.4 percent to 108.81 per dollar while gold advanced 0.7 percent to $1,317.02 an ounce, extending a 1.3 percent advance on Monday. Contracts on the S&P 500 Index were down 0.6 percent after falling as much as 0.9 percent. The underlying measure was little changed on Monday.

    North Korea was reported to fire an unidentified ballistic missile passing over northern Japan. The act reignited tensions after a war of words between Pyongyang and Washington earlier this month. Earlier this month, Pyongyang had threatened to fire a missile over Japan toward the U.S. territory of Guam in a respond to U.S. President Donald Trump’s warnings that any threat North Korea presented to the United States would be met with “fire and fury.

    In a speech following the missile’s launch, Prime Minister Shinzo Abe claimed that it “is an unprecedented, grave and serious threat” and that he agreed with Trump to increase pressure on North Korea. Japan did not only ask the United Nations Security Council to hold an emergency meeting but also urged China and Russia to join in taking action against Kim Jong Un’s regime.

    Technicals

    GBPCHF

    As can be seen from the price chart, GBPCHF has been under downward pressure exerted by two MAs that are hanging above the price action. The pair has breached a strong support at 1.22500 and is heading towards another firm support at 1.21500. While RSI index has jumped into the oversold zone, ADX index is on a rise with a widening gap between –DI and +DI lines.

    Trade suggestion

    Sell Stop at 1.22200, Take profit at 1.21500, Stop loss at 1.22500

    EURCAD

    EURCAD has broken above a firm resistance at 1.50000 after resuming its rally following a short consolidation. While RSI index has jumped into the overbought zone, ADX index is on a rise with a widening gap between +DI and -DI lines. The pair is forecast to edge higher in an attempt to test a resistance at 1.51000.

    Trade suggestion

    Buy Stop at 1.50400, Take profit at 1.51000, Stop loss at 1.50100

    Natural Gas

    Natural gas’s price action has broken out of a shrinking trading range that connects lower highs and higher lows. The commodity’s price breached this range from below, which indicates a strong bullish force in the market. RSI index is rising to as high as 60.82, signaling further advances for natural gas’ prices. The resistance at 3.000 is expected to be tested.

    Trade suggestion

    Buy Stop at 2.9750, Take profit at 3.000, Stop loss at 2.9650

    SILVER

    Silver extended its rally following a period of moving sideways. The market fell into a consolidation after the price action broke out of a significant level at 50.0% Fibonacci retracement. RSI has soared to as high as 72.66, indicating a dominating bullish force in the market. A resistance at 17.700 is within the sight.

    Trade suggestion

    Buy Stop at 17.570, Take profit at 17.700, Stop loss at 17.500

    DAX 30 Index

    Germany’s DAX 30 index gapped down on Tuesday and has breached a support at 11936.00 – the lowest level since August 11th. RSI is pointing sharply downward, suggesting a strengthening bearish momentum dominating in the market. The benchmark stock index is anticipated to test a significant level at 38.2% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 11920.00, Take profit at, Stop loss at

    ***********************************************

    Escalating Geopolitical Tensions Roil Markets, Yen Jumps to 4-month Highs Versus Dollar

    Japan’s currency gained versus all major developed peers on Tuesday, especially surging to a four-month high against the U.S. dollar after North Korea fired a missile over Japan. The act reignited tensions after a war of words between Pyongyang and Washington earlier this month.

    The Yen had jumped to as high as 108.326 yen per dollar in early trade- the highest level since April 18th – before retreating to 108.780 at the end of Asian morning trading session. North Korea was reported to fire an unidentified ballistic missile passing over northern Japan.

    Earlier this month, Pyongyang had threatened to fire a missile over Japan toward the U.S. territory of Guam in a respond to U.S. President Donald Trump’s warnings that any threat North Korea presented to the United States would be met with “fire and fury.

    In a speech following the missile’s launch, Prime Minister Shinzo Abe claimed that it “is an unprecedented, grave and serious threat” and that he agreed with Trump to increase pressure on North Korea. Japan did not only ask the United Nations Security Council to hold an emergency meeting but also urged China and Russia to join in taking action against Kim Jong Un’s regime.

    Escalating geopolitical tensions sapped investors’ appetite for risky investments. Asian shares and U.S. stock futures tumbled on Tuesday, causing investors to pile into safe-havens assets such as the Japanese Yen as Japan is the world’s biggest creditor nation and it has big current account surpluses.

    Trade suggestion

    Sell Stop at 108.750, Take profit at 108.350, Stop loss at 108.950

    *************************************************

    U.K. Shares Join Global Share Sell-off, Firm Pound Builds Up Pressure

    U.K. shares reopened and dropped sharply on Tuesday after having been closed in the previous session for the August Bank Holiday. Joining a selloff in global stock markets, the FTSE 100 index tumbled after North Korea launched a ballistic missile over northern Japan.

    The FTSE 100 index plunged by 1.40 percent to retest a firm support at 7,300.00 – lowest since August 21st as investors’ appetite for risky investments was sapped due to news that North Korea fired the first missile over the main lands of Japan since 2009.

    While no sector traded higher, a strong pound also contributed to providing some downside. Sterling added more than 0.2 percent versus dollar, sending the pair GBPUSD to as high as $1.2966, compared with $1.2933 late Monday in New York. A stronger currency tends to hurt shares of multinational companies that make the bulk of sales and earnings overseas.

    Trade suggestion

    Sell Stop at 7290.00, Take profit at 7255.00, Stop loss at 7310.00

    ***************************************************************

    USD/CHF

    From GMT 11:00 29/08/2017
    Till GMT 21:00 29/08/2017

    Sell at 0.94400
    Take profit at 0.94000
    Stop loss at 0.94600

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39810


    Daily Report on August 29, 2017

    Escalating geopolitical tensions sapped investors’ appetite for risky investments. Asian shares and U.S. stock futures tumbled on Tuesday, causing investors to pile into safe-havens assets such as the Japanese Yen, gold, Swiss franc and U.S. Treasuries. South Korea’s Kospi index led declines across the region, losing 1.2 percent. The S&P/ASX 200 Index and Hong Kong’s Hang Seng Index dropped 0.9 percent and 0.4 percent, respectively.

    The Topix index declined 0.3 percent on the back of a strengthening Yen. The yen advanced 0.4 percent to 108.81 per dollar while gold advanced 0.7 percent to $1,317.02 an ounce, extending a 1.3 percent advance on Monday. Contracts on the S&P 500 Index were down 0.6 percent after falling as much as 0.9 percent. The underlying measure was little changed on Monday.

    North Korea was reported to fire an unidentified ballistic missile passing over northern Japan. The act reignited tensions after a war of words between Pyongyang and Washington earlier this month. Earlier this month, Pyongyang had threatened to fire a missile over Japan toward the U.S. territory of Guam in a respond to U.S. President Donald Trump’s warnings that any threat North Korea presented to the United States would be met with “fire and fury.

    In a speech following the missile’s launch, Prime Minister Shinzo Abe claimed that it “is an unprecedented, grave and serious threat” and that he agreed with Trump to increase pressure on North Korea. Japan did not only ask the United Nations Security Council to hold an emergency meeting but also urged China and Russia to join in taking action against Kim Jong Un’s regime.

    Technicals

    GBPCHF

    As can be seen from the price chart, GBPCHF has been under downward pressure exerted by two MAs that are hanging above the price action. The pair has breached a strong support at 1.22500 and is heading towards another firm support at 1.21500. While RSI index has jumped into the oversold zone, ADX index is on a rise with a widening gap between –DI and +DI lines.

    Trade suggestion

    Sell Stop at 1.22200, Take profit at 1.21500, Stop loss at 1.22500

    EURCAD

    EURCAD has broken above a firm resistance at 1.50000 after resuming its rally following a short consolidation. While RSI index has jumped into the overbought zone, ADX index is on a rise with a widening gap between +DI and -DI lines. The pair is forecast to edge higher in an attempt to test a resistance at 1.51000.

    Trade suggestion

    Buy Stop at 1.50400, Take profit at 1.51000, Stop loss at 1.50100

    Natural Gas

    Natural gas’s price action has broken out of a shrinking trading range that connects lower highs and higher lows. The commodity’s price breached this range from below, which indicates a strong bullish force in the market. RSI index is rising to as high as 60.82, signaling further advances for natural gas’ prices. The resistance at 3.000 is expected to be tested.

    Trade suggestion

    Buy Stop at 2.9750, Take profit at 3.000, Stop loss at 2.9650

    SILVER

    Silver extended its rally following a period of moving sideways. The market fell into a consolidation after the price action broke out of a significant level at 50.0% Fibonacci retracement. RSI has soared to as high as 72.66, indicating a dominating bullish force in the market. A resistance at 17.700 is within the sight.

    Trade suggestion

    Buy Stop at 17.570, Take profit at 17.700, Stop loss at 17.500

    DAX 30 Index

    Germany’s DAX 30 index gapped down on Tuesday and has breached a support at 11936.00 – the lowest level since August 11th. RSI is pointing sharply downward, suggesting a strengthening bearish momentum dominating in the market. The benchmark stock index is anticipated to test a significant level at 38.2% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 11920.00, Take profit at, Stop loss at

    ***********************************************

    Escalating Geopolitical Tensions Roil Markets, Yen Jumps to 4-month Highs Versus Dollar

    Japan’s currency gained versus all major developed peers on Tuesday, especially surging to a four-month high against the U.S. dollar after North Korea fired a missile over Japan. The act reignited tensions after a war of words between Pyongyang and Washington earlier this month.

    The Yen had jumped to as high as 108.326 yen per dollar in early trade- the highest level since April 18th – before retreating to 108.780 at the end of Asian morning trading session. North Korea was reported to fire an unidentified ballistic missile passing over northern Japan.

    Earlier this month, Pyongyang had threatened to fire a missile over Japan toward the U.S. territory of Guam in a respond to U.S. President Donald Trump’s warnings that any threat North Korea presented to the United States would be met with “fire and fury.

    In a speech following the missile’s launch, Prime Minister Shinzo Abe claimed that it “is an unprecedented, grave and serious threat” and that he agreed with Trump to increase pressure on North Korea. Japan did not only ask the United Nations Security Council to hold an emergency meeting but also urged China and Russia to join in taking action against Kim Jong Un’s regime.

    Escalating geopolitical tensions sapped investors’ appetite for risky investments. Asian shares and U.S. stock futures tumbled on Tuesday, causing investors to pile into safe-havens assets such as the Japanese Yen as Japan is the world’s biggest creditor nation and it has big current account surpluses.

    Trade suggestion

    Sell Stop at 108.750, Take profit at 108.350, Stop loss at 108.950

    *************************************************

    U.K. Shares Join Global Share Sell-off, Firm Pound Builds Up Pressure

    U.K. shares reopened and dropped sharply on Tuesday after having been closed in the previous session for the August Bank Holiday. Joining a selloff in global stock markets, the FTSE 100 index tumbled after North Korea launched a ballistic missile over northern Japan.

    The FTSE 100 index plunged by 1.40 percent to retest a firm support at 7,300.00 – lowest since August 21st as investors’ appetite for risky investments was sapped due to news that North Korea fired the first missile over the main lands of Japan since 2009.

    While no sector traded higher, a strong pound also contributed to providing some downside. Sterling added more than 0.2 percent versus dollar, sending the pair GBPUSD to as high as $1.2966, compared with $1.2933 late Monday in New York. A stronger currency tends to hurt shares of multinational companies that make the bulk of sales and earnings overseas.

    Trade suggestion

    Sell Stop at 7290.00, Take profit at 7255.00, Stop loss at 7310.00

    ***************************************************************

    USD/CHF

    From GMT 11:00 29/08/2017
    Till GMT 21:00 29/08/2017

    Sell at 0.94400
    Take profit at 0.94000
    Stop loss at 0.94600

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39779


    Daily Report on August 28, 2017

    Asian shares were struggling for direction on Monday while European stocks were under pressure as the euro continued to trade higher to hit its highest level against the dollar in more than two years. Trading volumes was lighter than usual in the European trading session as trading was closed on the FTSE 100 due to the fact that the U.K. observed the August Bank Holiday.

    Dragged down by a stronger yen that had surged to as high as 119.016 in early trade, the Nikkei Stock Average was down 0.1% before paring losses to close roughly flat. The Topix closed 0.2 percent higher. The Shanghai Composite Index also traded higher, jumping 0.7% on the back of gains in financial stocks. The Hang Seng Index in Hong Kong added less than 0.1 percent.

    By contrast, Australia’s S&P/ASX 200 index declined 0.6 percent and South Korea’s Kospi index fell 0.4 percent. New Zealand’s NZX 50 index was also on a slide, dropping nearly 0.4 percent. With no sector traded higher, the Stoxx Europe 600 Index plunged by 0.5 percent to trade at the lowest in six months on a closing basis. Germany’s DAX Index fell 0.7 percent.

    Oil prices edged lower on Monday with U.S. West Texas Intermediate shedding around 1 percent on the New York Mercantile Exchange. Energy markets digested the impact of Hurricane Harvey, which is the most powerful hurricane to hit Texas in more than 50 years, on the U.S. Gulf Coast amid concerns that U.S. refinery shutdowns could reduce demand for American crudes

    Technicals

    EURAUD

    EURAUD rebounded from a firm support at 1.50100 following a short correction that came after the pair jumped to the highest level since July 07th at 1.50624. While RSI index is heading higher, ADX index is also on a rise with a widening gap between +DI and –DI lines, signaling further advances. A resistance at 1.51000 is within the sight.

    Trade suggestion

    Buy Stop at 1.50500, Take profit at 1.51000, Stop loss at 1.50300

    EURNZD

    EURNZD resumed its uptrend after a period of consolidation around the level of 1.64926. With a market dominated by bullish force, the currency pair is anticipated to inch higher in an attempt to test a resistance at 1.66000. RSI is pointing upwards, indicating a strengthening bullish momentum for the pair.

    Trade suggestion

    Buy Stop at 1.65000, Take profit at 1.66000, Stop loss at 1.64500

    COPPER

    Copper prices resumed its uptrend in the new week, trading higher to surpass a resistance at 3.0523 that the commodity’s price failed to break out last week. Recent moves sent the market into the overbought zone, as indicated by RSI index that has surged to as high as 74.65. However, the price is likely to extend its uptrend as ADX continued to edge higher, suggesting a strengthening bullish force in the market.

    Trade suggestion

    Buy Stop at 3.0700, Take profit at 3.1000, Stop loss at 3.550

    Natural Gas

    Natural gas futures prices breached a strong support at 2.8800 after its price action broke out of a slopping upward trend line that connects higher lows. The move signaled a reversal into a downtrend. With the RSI index heading downwards while ADX index on a rise, the commodity is expected to test a significant level at 23.6% Fibonacci level.

    Trade suggestion

    Sell Stop at 2.8700, Take profit at 2.8450, Stop loss at 2.8830

    *********************************************

    Dollar Remains Fragile, Gold Jumps to The Highest Level Since November

    Gold futures prices rose sharply on Monday, extending its gains to a second straight trading session. The precious metal surged to the highest level in more than nine months as the dollar has still been dragged down by disappointing remarks of Fed Chair Yellan last week.

    Gold for October delivery jumped noticeably more than 1 percent to trade at $1,306.70 an ounce – the highest level since November 9th, 2016. The dollar had slumped against a basket of global currencies on Friday and remained weak in the first trading of the new week due to falling expectations of a rate hike later this year.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, traded in mixed fashion, losing 0.02 percent to 92.35 and lingering near its weakest level of 2017.

    Speaking at the annual central bankers’ meeting in Jackson Hole, Wyoming, Federal Reserve chair Janet Yellen last Friday avoided talking about monetary policy. Instead, she defended rules adopted in response to the financial crisis, reiterating that any rollback of post-crisis financial reforms should be “modest”. Yellen’s comments sparked uncertainty as to whether the central bank will raise rates one more time or unwind the central bank’s balance sheet later this year.

    A weak dollar tends to boost gold’s prices as it helps boost attractiveness of gold to holders of other currencies.

    Trade suggestion

    Buy Stop at 1,307.00, Take profit at 1,313.00, Stop loss at 1,304.00

    ********************************************************

    Euro Takes Off Against Canadian Dollar As Crude Oil Futures Drop Sharply

    The euro rose dramatically versus its Canadian counterpart on Monday, extending its rally to a second straight trading session. The single currency surged to the highest level in nearly two week as the Loonie has still been dragged down by tumbling crude oil prices.

    The currency pair EURCAD jumped more than 0.5 percent to trade at $1.49600 – its strongest level since August 16th.

    The Canadian dollar was broadly lower against its peers as oil futures headed sharply lower on Monday. October West Texas Intermediate crude tumbled by around 3.4 percent to trade at $46.72 a barrel on the New York Mercantile Exchange, heading for their lowest settlement in about a month

    Meanwhile, the single currency has been supported by European Central Bank President Mario Draghi who avoided giving fresh clue on when the bank might tighten its stimulus program at Jackson Hole last week. However, Draghi claimed that the recovery in the euro area was gaining momentum.

    Trade suggestion

    Buy Stop at 1.49600, Take profit at 1.50000, Stop loss at 1.49400

    **************************************************

    GBP/CHF

    From GMT 07:40 28/08/2017
    Till GMT 21:00 28/08/2017

    Sell at 1.23000
    Take profit at 1.22500
    Stop loss at 1.23200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39738

    Yellen Fails to Give Clues on Fed’s Rate Hike Timing, Dollar Tumbles

    The U.S. dollar was broadly lower versus its rivals on Friday, especially the Swiss Franc. The currency pair USDCHF dropped to the lowest level in nearly a month after Federal Reserve Chairwoman Janet Yellen did not comment on monetary policy in her remarks at a gathering of central bankers in Jackson Hole, Wyo.

    USDCHF plunged more than 0.9 percent to trade at 0.9567 Swiss Franc per dollar – the lowest since July 27th. Fed Chairwoman Janet Yellen delivered a speech on Friday that didn’t offer clues on the central bank’s monetary policy investors hoped for. Instead, she defended post-crisis financial regulation, saying that any rollback of post-crisis financial reforms should be “modest”.

    Yellen’s comments bucked speculation that she might strike a hawkish tone on policy and left investors to focus on ECB President Mario Draghi’s talk later.

    Trade suggestion

    Sell Stop at 1.95650, Take profit at 1.95250, Stop loss at 1.95850

    *********************************************************

    Broadcom Shares Tumble Despite Better-than-expected Earnings and Rosy Q4 Guidance

    Shares of Broadcom Ltd. tumbled in extended trading session on Thursday despite the company’s better-than-expected earnings reports for the third quarter.

    Broadcom’s shares lost more than 2.5 percent to trade at $248.60 per share in late trading. The Irvine, CA-based wireless chipmaker posted Q3 earnings per share (EPS) of $4.10, topping Wall Street consensus estimate of $4.03.

    Net income in the three-month period to July was reported to reach $507 million, or $1.14 a share, on sales of $4.46 billion, up 7% from $4.19 billion in the year-ago quarter. Analysts on average expected the company to report sales of $4.45 billion.

    The technology company posted upbeat guidance for the fourth quarter with revenue seen to hit a range from $4.725 billion to $4.875 billion, slightly above consensus for $4.79 billion.

    Trade suggestion

    Sell Stop at 248.60, Take profit at 245.00, Stop loss at 250.00

    ********************************************************

    EUR/AUD

    From GMT 11:20 25/08/2017
    Till GMT 21:00 25/08/2017

    Buy at 1.49450
    Take profit at 1.49850
    Stop loss at 1.49250

  • #39698


    Daily Report on August 24, 2017

    European shares traded higher after a mixed session for Asian equities on Thursday. The Stoxx Europe 600 Index climbed 0.4 percent while Germany’s DAX Index also increased 0.4 percent. The U.K.’s FTSE 100 Index added 0.33 percent after having closed marginally higher on Wednesday, hitting the highest level in more than a week. Futures on the S&P 500 Index ticked 0.1 percent higher.

    By contrast, the MSCI Asia Pacific Index edged lower by 0.1 percent on Thursday, erasing an ealier gain of as much as 0.3 percent. Although Japanese Yen lost ground versus dollar, Japan’s Topix index fell 0.5 percent. Meanwhile, South Korea’s Kospi index and Australia’s S&P/ASX 200 Index increased 0.4 percent and 0.1 percent, respectively. Hong Kong’s Hang Seng Index aslo rose 0.4 percent after the market reopened on Thursday.

    Data released by the Office for National Statistics showed U.K. gross domestic product (GDP) expanded by a seasonally adjusted 0.3% in the second quarter following a rise of 0.2 percent in the three-month period to March. The reading was in line with expectations. On a yearly basis, UK economic growth advanced 1.7% in the April to June period.

    The Office for National Statistics also published data on business investment that showed no change on a quarterly basis. Analysts had forecast a growth rate of 0.4%, compared to the 0.6% seen in the first quarter. In a separate report, the index of services in the U.K. rose 0.5% after having added 0.4% in the preceding quarter.


    Technicals

    GBPNZD

    Supported by a couple of MAs, the pair GBPNZD edged higher after a period of moving sideways. The pair even broke out of a resistance at 1.77570 and is heading towards a significant level at 50.0% Fibonacci level. RSI index and ADX index are pointing upwards, suggesting further advances for the pair.

    Trade suggestion

    Buy Stop at 1.77900, Take profit at 1.78900, Stop loss at 1.77400

    EURCAD

    As can be seen from the price chart, the pair EURCAD has been under pressure from two MAs lingering above the price action. The price breached a firm support at 1.48000 and is heading lower towards a support at 1.47300. While RSI index is jumping, the ADX index is edging higher with a widening distance between –DI and +DI lines, suggesting further declines.

    Trade suggestion

    Sell Stop at 1.47800, Take profit at 1.47300, Stop loss at 1.48000

    USDCAD

    USDCAD has been tracing a downtrend, reversing lower after the pair had failed to sustain its bullish momentum above a resistance at 1.25900. The pair has been under pressure exerted by two MAs and looks set to attempt a support at 1.24900. RSI index is inching lower, indicating a strengthening bullish force in the market.

    Trade suggestion

    Sell Stop at 1.25300, Take profit at 1.24900, Stop loss at 1.25500

    Natural Gas

    Natural gas prices resumed its uptrend following a period of consolidation. As can be seen from the price chart, higher lows are formed, indicating a strengthening bullish force in the market. RSI index is edging higher, confirming the signal for further advances. A resistance at 3.000 is within the sight.

    Trade suggestion

    Buy Stop at 2.9500, Take profit at 3.000, Stop loss at 2.9300

    ********************************************

    Sterling Turns Lower, Boosting U.K. Shares to One-week Highs

    U.K. shares advanced on Thursday after data showed U.K. gross domestic product rose as much as expected in the last quarter. A weak British Pound also contributed to boost the stock benchmark index higher.

    The FTSE 100 index added nearly 0.7 percent to trade at 7430.00 – the highest level in more than one week- after having closed marginally higher on Wednesday.

    Data released by the Office for National Statistics showed U.K. gross domestic product (GDP) expanded by a seasonally adjusted 0.3% in the second quarter following a rise of 0.2 percent in the three-month period to March. The reading was in line with expectations. On a yearly basis, UK economic growth advanced 1.7% in the April to June period.

    The Office for National Statistics also published data on business investment that showed no change on a quarterly basis. Analysts had forecast a growth rate of 0.4%, compared to the 0.6% seen in the first quarter. In a separate report, the index of services in the U.K. rose 0.5% after having added 0.4% in the preceding quarter.

    British Pound reversed earlier gains to trade as low as $1.28000. Sterling weakness helps boost shares of the FTSE’s many multinational companies that get their earnings in other currencies.

    Trade suggestion

    Buy Stop at 7430.00, Take profit at 7460.00, Stop loss at 7420.00

    *****************************

    AUD/NZD

    From GMT 09:30 24/08/2017
    Till GMT 21:00 24/08/2017

    Sell at 1.09300
    Take profit at 1.09850
    Stop loss at 1.09500

    ******************************
    GBP/AUD

    From GMT 17:00 24/08/2017
    Till GMT 21:00 24/08/2017

    Sell at 1.61800
    Take profit at 1.61000
    Stop loss at 1.62200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39613


    Daily Report on August 22, 2017

    Asian shares advanced on Tuesday after U.S. equities halted a two-day slide in the previous trading session. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 percent while Japan’s stocks were also on a rise as the Japanese Yen erased Monday’s gains. The currency lost 0.3 percent to 109.27 per dollar. Japan’s Topix index edged 0.2 percent higher.

    Despite lingering worries about tensions on the Korean peninsula, South Korean shares gained ground with the Kospi index climbing 0.4 percent. Hong Kong’s Hang Seng Index led gains in Asia, soaring 1 percent as bolstered by strong earnings results. Australian shares added 0.2 percent as did futures on the S&P 500. The underlying gauge inched 0.1 percent higher on Monday.

    Following three days of declines European stocks also joined a rally across most Asian equities. The Stoxx Europe 600 Index increased 0.5 percent, rebounding from the lowest in more than a week. The U.K.’s FTSE 100 Index rose 0.6 percent and Germany’s DAX Index also gained 0.6 percent.

    Crude oil prices gapped up on Tuesday. U.S. West Texas Intermediate crude jumped 0.3 percent to $47.55 after tumbling 2.4 percent in the previous session, boosted by indications that domestic supply is gradually tightening. Analysts expect U.S. crude inventories to fall for an eighth straight week and drop by 3.4 million barrels last week. Data released by the American Petroleum Institute will be published later in the day while those of U.S. government’s Energy Information Administration are due on Wednesday.

    Technicals

    NZDUSD

    NZDUSD rebounded lower after having failed to surpass a strong resistance at 0.73300 – the level that has kept the pair from edging higher since August 11th. The price action fell below a couple of MAs, confirming the downtrend. Meanwhile, the RSI index is heading lower, suggesting further declines for the pair.

    Trade suggestion

    Sell Stop at 0.72700, Take profit at 0.72200, Stop loss at 0.72900

    GBPCHF

    As can be easily seen from the chart, the pair GBPCHF has been under downward pressure exerted by two MAs that are hanging above the price action. RSI remained under 50, moving at as low as 40.72, indicating a dominating bear in the market. A support at 1.23500 is within the sight.

    Trade suggestion

    Sell Stop at 1.24000, Take profit at 1.23500, Stop loss at 1.24200

    GBPAUD

    GBPAUD has been depressed by the short-term MA20, moving sideways above a firm support at 1.62000 – the level that the pair failed to breach since March 21st. The RSI index is pointing lower and the ADX index is on a rise, indicating a strengthening bearish momentum in the market. A support at 1.61000 is expected to be tested.

    Trade suggestion

    Sell Stop at 1.62000, Take profit at 1.61000, Stop loss at 1.62500

    Natural Gas

    Natural Gas resumed its uptrend following a period of moving sideways around the level 2.9650. The price action has been trading above two MAs, indicating a market dominated by buyers. RSI continued to point upwards, signaling further advances for the commodity. A resistance at 3.100 is forecast to be tested.

    Trade suggestion

    Buy Stop at 2.9700, Take profit at 3.100, Stop loss at 2.9500

    WTI

    U.S. crude price reversed lower, paring early gains after the commodity failed to breach a resistance at 47.867. The price action once again fell below a couple of MAs while RSI index retreated from the 50 level, suggesting a dominating bearish force in the market. Crude price may attempt a support at 46.500.

    Trade suggestion

    Sell Stop at 47.400, Take profit at 46.500, Stop loss at 47.800

    COPPER

    Copper has been tracing an uptrend with support from a couple of moving averages that are lingering below the price action. The price is retesting yesterday’s high at 3.0083 following a short correction. RSI is edging higher, indicating a strengthening bullish momentum in the market. Further advances are anticipated.

    Trade suggestion

    Buy Stop at 3.0100, Take profit at 3.0300, Stop loss at 3.000

    *****************************************

    Led By Gains of Miners and A Weak Sterling, U.K. Shares Snap A Three-session Losing Streak

    U.K. stocks gapped up on Tuesday, on track to halt a three-session losing streak. Shares of miners led the market as copper hit its highest level since November 2014 while a weak British Pound also contributed to provide some upside.

    The stock benchmark index FTSE 100 jumped 0.7% to trade at 7,366.50. All sectors traded higher, led by gains in basic materials group. Copper prices continued to climb on Tuesday amidst expectations of further global economic growth while lower supplies may buoy base metals’ prices.

    Copper futures for September delivery added 0.75% to trade at $3.002 a pound on the Comex division of the New York Mercantile Exchange on Tuesday after having advanced 1.4% in the previous session. This marked its highest level since November 2014.

    Mining heavyweights BHP Billiton PLC and Antofagasta PLC were among the top performers in the market. Shares of BHP Billiton PLC jumped more than 3 percent while those of Antofagasta PLC even jumped more than 4.8 percent. Both copper miners tripled their interim dividend payment after reporting a sharp rise in half-year earnings.

    Sterling tumbled 0.44% versus its American counterpart on Tuesday, sending the pair GBP/USD down to as low as 1.28400. The pound has been under pressure as investors expected that the Bank of England would hold its interest unchanged in the coming months due to concerns over the economic impact from Brexit.

    Trade suggestion

    Buy Stop at 7370.00, Take profit at 7400.00, Stop loss at 7360.00

    *****************************************************

    S&P 500 Extends Gains, Bolstered by Technology and Materials Companies

    U.S. shares advanced on Tuesday with the stock benchmark S&P 500 index climbing a second day. While copper rose to a three-year high that helped materials companies lead the market, the absence of major news from the White House on the tensions between the United States and North Korea helped calm nerves.

    The S&P 500 jumped nearly 0.8% to trade at 2443.00, led by a bounce in technology and materials companies. Nine of the 11 primary S&P 500 sectors rose on the day with the biggest gainers were material as copper futures for September delivery added 0.75% to trade at $3.002 a pound on the Comex division of the New York Mercantile Exchange.

    The metal advanced 1.4% in the previous session and extended its rally to hit its highest level since November 2014. Technology sector was the second biggest gainer, adding 1.2%.

    Trade suggestion

    Buy Stop at 2443.00, Take profit at 2460.00, Stop loss at 2435.00

    **********************************************************

    EUR/GBP

    From GMT 05:00 22/08/2017
    Till GMT 21:00 22/08/2017

    Buy at 0.91650
    Take profit at 0.92000
    Stop loss at 0.91500

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39555


    Daily Report on August 21, 2017

    Global shares declined in the first trading session of the new week, sending demand for safe-haven assets higher with gold futures prices edging up and moving closer to the $1,300 level on Monday. Asian shares were fragile while European stocks traded lower, as investors’ confidence was sapped by war drills scheduled for the Korean peninsula, not to mention doubts over U.S. President Donald Trump’s ability to fulfill his economic agenda.

    The MSCI All-Country World Index lost 0.1 percent, heading to the lowest in almost five weeks on a closing basis amidst declines of stock index benchmarks in Tokyo, Seoul and Sydney as well as the euro zone. Japan’s Nikkei shed 0.4 percent to trade at a three-and-a-half-month low in spite of the fact that a Reuters poll indicated Japanese manufacturers rose to its highest level in a decade in August.

    The MSCI Asia Pacific Index slid 0.1 percent, weighed down by Australia’s S&P/ASX 200 Index that plunged by 0.4 percent and South Korea’s Kospi index that lost 0.1 percent. By contrast, stocks rose in Hong Kong and Shanghai. Hong Kong’s Hang Seng Index jumped 0.4 percent and the Shanghai Composite Index climbed 0.6 percent.

    Tracing a weak trading session in Asia, the Stoxx Europe 600 Index fell 0.1 percent, Germany’s DAX Index and the U.K.’s FTSE 100 Index tumbled 0.4 percent and 0.2 percent, respectively. As U.S. and South Korea kicked off annual military exercises, Pyongyang on Sunday warned that the war drills are “reckless behavior driving the situation into the uncontrollable phase of a nuclear war.”

    Technicals

    EURUSD

    EURUSD has been trapped in a slopping downward trading range which connects lower highs and lower lows. However, the price action is testing the upper boundary, looking set to cross over this resistance from below. RSI has risen above the 50 level, indicating a strengthening bullish momentum in the market. A resistance at 1.18300 is within the sight.

    Trade suggestion

    Buy Stop at 1.17700, Take profit at 1.18300, Stop loss at 1.17400

    GOLD

    Gold futures prices has been trading sideways below a firm resistance at 1289.00 for a while, sending the ADX index to as low as 15.38, which indicates an unclear trend in the market. The price action has twisted with two moving averages. In the event of breaking out of this resistance and trading higher, the precious metal is expected to test a high at 1295.00.

    Trade suggestion

    Buy Stop at 1290.00, Take profit at 1295.00, Stop loss at 1288.00

    Natural Gas

    Natural gas price reversed lower after having surged to as high as 2.9380 – the highest level since August 15th. The price action once again fell below a couple of moving averages and sent the market into the negative territory, as indicated by RSI index that has plunged to as low as 42.90. A support at 23.6% Fibonacci level is expected to be tested.

    Trade suggestion

    Sell Stop at 2.8750, Take profit at 2.8450, Stop loss at 2.8900

    CAC 40

    CAC 40 index reversed lower after having failed to sustain its bullish momentum above the 23.6% Fibonacci retracement. Depressed by downward pressure exerted by two MAs hanging above the price action, the stock benchmark index is forecast to trade lower to attempt a support at 5051.00.

    Trade suggestion

    Buy Stop at 5080.00, Take profit at 5051.00, Stop loss at 5095.00

    *******************************************************

    Crude Oil Futures Tumble, Producers Meet To Discuss Compliance Levels

    Crude oil prices declines on Monday, reversing lower after having closed higher in two previous sessions. The commodity was under pressure due partly to the fact that investors took profit after a sharp jump in price last Friday while a meeting between OPEC and non-OPEC members contributed to providing some downside.

    U.S. West Texas Intermediate crude futures dropped nearly 1.9% to trade at $47.26 a barrel on the New York Mercantile Exchange in North American trading session on Monday. The Organization of the Petroleum Exporting Countries (OPEC) was due to hold a technical meeting with non-cartel members in Vienna to discuss compliance levels with the cartel’s production cut deal.

    According to the International Energy Agency’s latest monthly report, OPEC compliance with the agreement fell to 75% in July – the lowest level since the beginning of this year. As stated by a recent report from OPEC, the cartel’s crude production increased last month due to an unexpected rise in production in Libya and Nigeria, two member countries were exempt from the compliance deal.

    Trade suggestion

    Sell Stop at 47.26, Take profit at 46.00, Stop loss at 47.70

    ******************************************************

    USD/JPY
    From GMT 09:00 21/08/2017
    Till GMT 21:00 21/08/2017

    Sell at 109.000
    Take profit at 108.600
    Stop loss at 109.200

    *******************************************************

    EUR/NZD
    From GMT 16:30 21/08/2017
    Till GMT 21:00 21/08/2017

    Buy at 1.61400
    Take profit at 1.61900
    Stop loss at 1.61200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39499

    Daily Report on August 18, 2017

    Asian stock investors joined a global retreat from riskier assets on Friday. While doubts about U.S. President Donald Trump’s ability to deliver his economic agenda are growing, terrorist attack in Barcelona on Thursday contributed to shake investors’ confidence. At the close in NYSE, the Dow Jones Industrial Average dropped 1.24%, while the S&P 500 index shed 1.54%, and the NASDAQ Composite index lost 1.94%.

    Tracing downticks in U.S. stocks on Wall Street in the previous session, the MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.7 percent while Japanese equities, which were dragged down by a strengthening yen, also traded lower. Japan’s Topix index fell 1.1 percent and Japan’s Nikkei slid 1 percent, looking set to lose 1.3 percent for the week.

    A terror attack on Thursday in Barcelona, which left 13 people dead and more than 100 injured, was a reminder that geopolitical risks remain a threat. The driver was reported to ram a van into pedestrians in the section of Las Ramblas – Barcelona’s most iconic avenue- before jumping out of the van and fleeing the scene. Police in Spain are still hunting the suspected terrorist.

    Political turmoil in the U.S. was another caused that created uncertainty for investors to pullback and capitalize on their gains. U.S. President Donald Trump on Thursday did not only decry the removal of pro-slavery Civil War Confederacy monuments in Charlottesville, Virginia, but also unleashed attacks on two Republican U.S. senators, Jeff Flake and Lindsey Graham.

    A spate of unfortunate events mounted concerns over Trump’s ability to work with lawmakers in his own party to win passage of his stimulus plans, such as tax cuts and infrastructure spending.

    Technicals

    GBPAUD

    GBPAUD reversed lower after having failed to cross over the short-term MA20. The currency pair is anticipated to retest a firm support at 1.62000 – the level that forced the price to rebound in the previous session. RSI is heading towards the oversold zone, indicating a strengthening bullish momentum in the market.

    Trade suggestion

    Sell Stop at 1.62700, Take profit at 1.62000, Stop loss at 1.63000

    Natural Gas

    Natural Gas futures prices retreated after the commodity failed to sustained its bullish momentum. The pair is tracing a couple of MAs to edge lower and has fallen below these two dynamic supports. RSI index is declining, signaling further downticks for the commodity price.

    Trade suggestion

    Sell Stop at 2.9000, Take profit at 2.8680, Stop loss at 3.9150

    SILVER

    Having supported by two MAs that are lingering below the price action, silver rebounded higher to retest a two-month high at 17.200 that the precious metal has failed to surpass since August 10th. RSI remained in the positive territory, showing that the market has been dominated by buyers. A resistance at 50.0% Fibonacci retracement is within the sight.

    Trade suggestion

    Buy Stop at 17.200, Take profit at 17.400, Stop loss at 17.100

    CAC 40 Index

    France’s CAC 40 index has still been trapped in a slopping downward trading range that connects lower lows and lower highs. The price action once again fell below a significant level at 23.6% Fibonacci level. While RSI index is heading downward, ADX index is on a rise with a widening gap between –DI and +DI lines, suggesting further declines.

    Trade suggestion

    Sell Stop at 5085.00, Take profit at 5050.00, Stop loss at 5100.00

    Dow Jones 30

    U.S. Dow Jones 30 tumbled to a three-week low at 21710.00 on Thursday and is posed to trade even lower following a short correction. While the RSI index has plunged into the oversold zone, the ADX index is heading higher, indicating a strengthening bearish force in the market. A support at 21600.00 is expected to be tested.

    Trade suggestion

    Sell Stop at 21710.00, Take profit at 21600.00, Stop loss at 21760.00

    *******************************************

    Gold Looks Set to Strike $1,300 Level As Precious Metals Draw Haven Demand

    Gold futures prices jumped sharply on Friday, trading at the highest level since early-November 2016 as demand for safe-haven assets increased. A selloff in global equities bolstered the precious metal’s price, helping gold to advance for its third straight trading day.

    Gold for September delivery climbed more than 0.7 percent to trade at $1296.40 an ounce – the highest level since November 04th. The precious metal looks set for a weekly gain of about 0.5%.

    While doubts about U.S. President Donald Trump’s ability to deliver his economic agenda are growing, terrorist attack in Barcelona on Thursday, which left 13 people dead and more than 100 injured, contributed to shake investors’ confidence.

    U.S. President Donald Trump on Thursday did not only decry the removal of pro-slavery Civil War Confederacy monuments in Charlottesville, Virginia, but also unleashed attacks on two Republican U.S. senators, Jeff Flake and Lindsey Graham.

    The dollar was hit hard as a spate of unfortunate events mounted concerns over Trump’s ability to work with lawmakers in his own party to win passage of his stimulus plans, such as tax cuts and infrastructure spending. A softer greenback caused purchasing assets priced in the currency such as gold more attractive to buyers holding other currencies.

    Trade suggestion

    Buy Stop at 1297.00, Take profit at 1305.00, Stop loss at 1293.00

    ********************************************

    Japanese Yen Extends Gains Versus Dollar Due to Global Share Sell-off

    Japanese Yen extended its upbeat moves versus the dollar for the third day in a row as Asian stock investors joined a global retreat from riskier assets on Friday. While doubts about U.S. President Donald Trump’s ability to deliver his economic agenda are growing, terrorist attack in Barcelona on Thursday contributed to shake investors’ confidence.

    The currency pair USDJPY lost more than 0.2 percent on Friday following a drop of 0.6 percent on Thursday, looking set to pair earlier weekly gains. Tracing downticks in U.S. stocks on Wall Street in the previous session, the MSCI Asia Pacific Index declined 0.7 percent while Japanese equities, which were dragged down by a strengthening yen, also traded lower. Japan’s Topix index fell 1.1 percent.

    A terror attack on Thursday in Barcelona, which left 13 people dead and more than 100 injured, was a reminder that geopolitical risks remain a threat. The driver was reported to ram a van into pedestrians in the section of Las Ramblas – Barcelona’s most iconic avenue- before jumping out of the van and fleeing the scene. Police in Spain are still hunting the suspected terrorist.

    Political turmoil in the U.S. was another caused that created uncertainty for investors to pullback and capitalize on their gains. U.S. President Donald Trump on Thursday did not only decry the removal of pro-slavery Civil War Confederacy monuments in Charlottesville, Virginia, but also unleashed attacks on two Republican U.S. senators, Jeff Flake and Lindsey Graham. A spate of unfortunate events mounted concerns over Trump’s ability to work with lawmakers in his own party to win passage of his stimulus plans, such as tax cuts and infrastructure spending.

    Trade suggestion

    Sell Stop at 109.300, Take profit at 108.900, Stop loss at 109.500

    ***************************************************

    AUD/USD

    From GMT 09:00 18/08/2017
    Till GMT 21:00 18/08/2017

    Buy at 0.79250
    Take profit at 0.79650
    Stop loss at 0.79050

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39449


    Daily Report on August 17, 2017

    Asian shares were mixed on Thursday while European equities drifted lower. While Japan’s Nikkei finished down 0.1%, the Stoxx Europe 600 Index and U.K.’s FTSE 100 Index both decreased 0.3 percent. Hong Kong’s Hang Seng index was also almost unchanged at 27,400.17. The S&P/ASX 200 was also flat at 5,785.80. Meanwhile, South Korea’s Kospi index and Shanghai Composite index added gained 0.5 percent and 0.4 percent, respectively.

    The Australian Bureau of Statistics (ABS) on Thursday reported that the country’s unemployment rate fell to 5.6 percent with the creation of nearly 28,000 jobs in July. According to the report, ABS revised up June’s unemployment figure to 5.7 percent. Among 27,900 jobs added to the economy last month, part-time jobs added 48,200 while full-time jobs witnessed a fall of 20,300.

    Whereas, data released by the Office for National Statistics showed U.K. retail sales grew only modestly in July while the previous month’s growth was revised down significantly. ONS latest figures pointed to a rise of 0.3% in sales in July, matching the new June figure which was revised down from the original reading of 0.6%. On a yearly basis, retail sales grew by 1.3%, falling short of expectations for a 1.7% expansion.

    The Labor Department on Thursday released data on initial jobless claims that showed the number of Americans who sought unemployment benefits in mid-August fell to the lowest level in six months. As stated by the report, U.S. initial jobless claims declined by 12,000 to 232,000 last week.


    Technicals

    EURUSD

    EURUSD reversed lower after having failed to cross over a pair of MAs that are lingering above the price action. The pair retested a support at 1.16850 and looks set to trade lower as the market has been dominated by sellers. RSI index continued to point to the oversold zone, while ADX index has been on a rise, indicating a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 1.16800, Take profit at 1.16200, Stop loss at 1.17100

    EURJPY

    EURJPY extended its down ticks to officially break out of a significant support at 61.8% Fibonacci level. The pair has been under downward pressure exerted by two MAs hanging above the price action. While RSI index is pointing downwards, ADX index is on a rise, suggesting further declines. A support at 128.100 is within the sight.

    Trade suggestion

    Sell Stop at 128.700, Take profit at 128.100, Stop loss at 129.000

    S&P500

    U.S. SP500 Index extended the downtrend after its price action crossed over a pair of MAs from above. The stock benchmark index retested a support at 2450.00 but is posed to fell below this level as the bearish momentum is becoming strengthened in the market, as indicated by the RSI index that has dropped to as low 37.96.

    Trade suggestion

    Sell Stop at 2450.00, Take profit at 2434.00, Stop loss at 2458.00

    Dow Jones

    U.S. Dow Jones 30 index declined after struggling for direction as the price had been supported by a couple of MAs. The price action penetrated these two dynamic supports from above, heading towards a support at 21820.00. The RSI index has fallen to as low as 41.83, confirming the downtrend.

    Trade suggestion

    Sell Stop at 21940.00, Take profit at 21820.00, Stop loss at 22000.00

    ******************************************

    Wal-Mart Shares Edge Lower As Sam’s Club Sales Fail to Hit Forecasts

    Shares of Wal-Mart Stores Inc. dropped more than 2% in pre-market trading on Thursday after the retailing corporation reported second-quarter earnings and sales that topped Street expectations, but Sam’s Club sales fell below expectations.

    Wal-Mart shares lost 2.84% to trade at $78.68 per shares after the retailer posted net income of $2.90 billion, or 96 cents per share for the three-month period to July, down from $3.78 billion, or $1.21 per share, for the same period last year.

    Revenue was reported to reach $123.4 billion, up from $120.9 billion recorded one year ago and ahead of the $122.8 billion expected by analysts. Same-store sales soared 1.8%, with traffic growing 1.3% for the quarter. Online sales, which added 70 basis points to comparable sales, were said to grow 60 percent, decelerating from the 63-percent growth rate in the previous quarter.

    Sam’s Club sales rose to $14.9 billion last quarter from $14.5 billion last year, but failed to reach analysts’ forecast for a rise to $14.8 billion.

    Trade suggestion

    Sell Stop at 78.65, Take profit at 78.00, Stop loss at 79.00

    ******************************************************

    Cisco Shares Tick Down After Fiscal Q1 Revenue Downgraded

    Shares of Cisco Systems Inc. dropped in after-hours trading on Wednesday after the technology conglomerate forecast another drop in revenue in the next quarter.

    Cisco shares plunged by 2.5 percent to trade at $31.53 a share after having closed the regular session up 0.8%. Cisco reported earnings of $2.4 billion, or 48 cents a share, in the fiscal fourth quarter, slightly lower than $2.8 billion, or 56 cents a share, in the year-ago period.

    Adjusted for one-time items, the networking company earned $3.1 billion, or 61 cents a share, in line with expectations calling for adjusted earnings of 61 cents a share. Revenue was reported to fall 4% to $12.1 billion in the quarter, from $12.6 billion a year ago.

    Cisco anticipates that fiscal first-quarter revenue to fall between 3% and 1% year-over-year, which would send adjusted per-share earnings to the range between 59 cents and 61 cents for the quarter.

    Trade suggestion

    Sell Stop at 31.50, Take profit at 31.00, Stop loss at 31.70

    ************************************************

    EUR/CAD

    From GMT 09:00 17/08/2017
    Till GMT 21:00 17/08/2017

    Sell at 1.48100
    Take profit at 1.47500
    Stop loss at 1.48400

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39417

    Daily Report on August 16, 2017

    Asian shares were mixed on Wednesday, struggling for direction while European stocks opened higher. In Japan, the Nikkei Stock Average index edged 0.12 percent lower while Topix index was little changed. Futures on the S&P 500 Index were little changed on Wednesday after the underlying gauge closed down 0.1 percent on Tuesday. The Nasdaq Composite also dropped 0.1 percent but the Dow Jones Industrial Average closed higher.

    South Korean shares, however, climbed 0.5 percent as traders returned from a public holiday. South Korean President Moon Jae-in on Tuesday called for renewed talks with the North, saying that the U.S. would need Seoul’s consent for any military action on the Korean Peninsula. His comments helped ease tensions which had caused a global share sell-off last week.

    Australia’s S&P/ASX 200 reversed higher, adding nearly 0.5% after having retreated 0.1 percent. Leading losses and weighing down the overall performance, Singapore’s Straits Times Index fell as much as 1.1 percent on Wednesday due to the fact that banks and interest-rate sensitive stocks tumbled. The Hang Seng Index jumped 0.6 percent in Hong Kong, whereas, the Shanghai Composite Index inched 0.2 percent lower.

    Crude oil futures price advanced on Wednesday after the American Petroleum Institute (API) on Tuesday reported U.S. inventories dropped by 9.16 million barrels at the end of last week. The figure did not only mark an 11th straight drawdown but also topped market expectations calling for a retreat of 3 million barrels. Official data from the Energy Information Administration (EIA) will be released later in the day.

    Technicals

    USDJPY

    USDJPY resumed its uptrend after a period of consolidation around a significant level of 23.6% Fibonacci retracement. While the RSI index has inched to as high as 66.69, the ADX index has been on a strong surge with a widening distance between the +DI and –DI lines. The pair is anticipated to test a resistance at 111.300.

    Trade suggestion

    Buy Stop at 110.900, Take profit at 111.300, Stop loss at 110.700

    GBPAUD

    Under downward pressure exerted by two MAs hanging above the price action, the pair is trading lower. While the RSI index has inched to as low as 30.24, the ADX index has been on a strong rise with a widening gap between the +DI line and the –DI line, signaling further declines for the currency pair. GBPAUD is expected to test a support at 1.63000.

    Trade suggestion

    Sell Stop at 1.63700, Take profit at 1.63000, Stop loss at 1.64000

    AUDNZD

    AUDNZD retested a strong resistance at 1.08450 – the level which caused the pair to retreat on July 20th and August 10th. With the support from two MAs lingering below the price action, the pair is expected to break out of this resistance to attempt a significant level at 1.09000. Rising ADX and RSI indices confirm further upbeat moves.

    Trade suggestion

    Buy Stop at 1.08500, Take profit at 1.09000, Stop loss at 1.08300

    Natural Gas

    Natural Gas has been trading a steady downtrend after its price action penetrated the short-term MA20 from above. A bearish force has been strengthening in the market, as indicated by the RSI index that has dropped to as low as 41.08. The ADX index is inching higher, signaling that the commodity may fall further.

    Trade suggestion

    Sell Stop at 2.9000, Take profit at 2.8450, Stop loss at 2.9250

    DOW JONES 30

    U.S. Dow Jones 30 index resumed its uptrend following a short correction. The price action once again penetrated the long-term MA50 from below and retested a high at 22041.00 logged yesterday. RSI continued to head higher, indicating a strengthening bullish momentum in the market. The stock benchmark index is forecast to test a resistance at 22130.00.

    Trade suggestion

    Buy Stop at 22050.00, Take profit at 22130.00, Stop loss at 22010.00

    CAC40

    With the support from two MAs that are hanging below the price action, the CAC 40 index looks set to break out of a slopping downward trading range that connects lower highs and higher lows. While the RSI is rising, ADX is also on a rise with a widening gap between +DI and –DI lines, suggesting further up moves for the index.

    Trade suggestion

    Buy Stop at 5185.00, Take profit at 5220.00, Stop loss at 5165.00

    *******************************************

    ECB President Mario Draghi Disappoints, EURUSD Extends Losses

    The euro lost ground broadly versus its peers on Wednesday after Reuters reported that European Central Bank’s President Mario Draghi would not deliver any new policy messages at the U.S. Federal Reserve’s Jackson Hole conference.

    The single currency fell for the third day in a row versus its American counterpart. The pair EURUSD edged 0.32 percent lower to trade at $1.16900.

    The report published by Reuters on Wednesday poured cold water on any hopes for the ECB’s Governor to announce plans to scale back its monetary stimulus program at the U.S. Federal Reserve symposium next week. The source reported that Draghi would focus on fostering a dynamic global economy, which is the theme of the conference due to be held on August 25th, and therefore, may keep any policy discussion until the fall.

    Trade suggestion

    Sell Stop at 1.16800, Take profit at 1.16300, Stop loss at 1.17050

    ****************************************

    Crude Oil Futures Trade Lower As Weekly U.S. Production Jumps To Two-year Highs

    Crude oil futures reversed lower on Wednesday after the Energy Information Administration reported that domestic production jumped to the highest weekly level in over two years.

    U.S. West Texas Intermediate crude for September delivery shed more than 0.5 percent to trade at $47.26 a barrel on the New York Mercantile Exchange. The Energy Information Administration on Wednesday released data that showed supplies of crude oil fell by 8.9 million barrels in the week ended Aug. 11.

    The reading did not only remark a seventh-straight weekly decline in U.S. crude supplies but was also more than double than the drop of 3.6 million barrels expected by analysts.

    However, the report pointed to a rise of 79,000 barrels a day in total crude-oil production to 9.502 million barrels a day last week. According to EIA figures, that was the highest weekly output figure since mid-July 2015.

    Trade suggestion

    Sell Stop at 47.25, Take profit at 46.70, Stop loss at 47.50

    *********************************************

    EUR/NZD

    From GMT 12:30 16/08/2017
    Till GMT 21:00 16/08/2017

    Sell at 1.61300
    Take profit at 1.60700
    Stop loss at 1.61600

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39398


    Daily Report on August 15th, 2017

    Japanese Yen extended losses versus its American counterpart to a third consecutive trading session on Tuesday as global shares continued to advance, sapping investors’ appetite for safe-haven assets like the Yen. As the prospect of war between the U.S. and North Korea receded, Asian shares traded higher, tracing gains on Wall Street overnight.

    MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent while Japan’s Topix index surged 1.2 percent. Stock indexes from Hong Kong to Sydney were also on a rise with Hong Kong’s Hang Seng index adding 0.4 percent and Australia’s S&P/ASX 200 Index gaining 0.7 percent. The Shanghai Composite Index also traded higher, climbing 0.6 percent.

    Futures on the S&P 500 advanced by 0.3 percent in Asian morning session after the underlying gauge closed 1 percent higher on Monday. A report from Korean Central News Agency (KCNA) on Tuesday showed that Kim Jong Un praised the military for drawing up a “careful plan” to fire missiles toward Guam but also decided not to launch a threatened missile attack on Guam, saying that saying he would watch the U.S.’s conduct “a little more.”

    Crude oil prices remained weak on Tuesday following a decline of 2.5 percent in the previous session. Official data released on Monday showed that in July Chinese oil refineries operated at their lowest daily rates since September 2016. As the world’s second-largest oil user, China’s demand concerns weighed down crude prices.

    Technicals

    AUDUSD

    As can be seen from the price chart, the currency pair AUDUSD has been under downward pressure from two MAs that are hanging above the price action. With the RSI index heading downward while ADX index edging higher, not to mention a widening gap between –DI and +DI lines, the pair is expected to trade lower and test a support at 0.77800.

    Trade suggestion

    Sell Stop at 0.78300, Take profit at 0.77800, Stop loss at 0.78500

    USDCAD

    The pair USDCAD retested a firm resistance at 1.27500 after having failed to surpass this level last Friday. Two moving averages are lingering below the price action, supporting the pair to inch higher. Both RSI and ADX indices are advancing, whereas, the distance between +DI and –DI lines is widening, confirming the uptrend.

    Trade suggestion

    Buy Stop at 1.27500, Take profit at 1.27900, Stop loss at 1.27300

    CHFJPY

    CHFJPY rebounded from a strong support at as low as 112.650. Recent up moves did not only send the price action above a couple of MAs but also helped the pair to cross over a firm resistance at 113.900. Both the RSI and ADX indices are edging higher while the gap between +DI and –DI lines are widening, the pair is expected to trade higher.

    Trade suggestion

    Buy Stop at 113.600, Take profit at 114.100, Stop loss at 113.400

    GBPUSD

    As can be seen from the chart, the pair GBPUSD has been depressed by two MAs that are hanging above the price action. The pair is testing a significant level at 23.6% Fibonacci level and looks set to break out of this level to test a support at 1.28500. RSI has fallen into the oversold zone, while ADX index is on a strong rise, signaling further declines.

    Trade suggestion

    Sell Stop at 1.29100, Take profit at 1.28500, Stop loss at 1.29400

    WTI

    U.S. crude oil price resumed the downtrend after a short correction. The commodity has been under downward pressure from two MAs hanging above the price after having failed to cross over these two dynamic resistances. A support at 46.700 is within the sight as RSI and ADX indices are signaling further declines.

    Trade suggestion

    Sell Stop at 47.400, Take profit at 46.700, Stop loss at 47.700

    Natural Gas

    Natural Gas fell below the short-term MA20 after being supported by this moving average for a while. Both RSI and ADX indices are heading lower, which indicates a weakening bullish force in the market. The commodity is anticipated to retreat in an attempt to test a support at 2.8950.

    Trade suggestion

    Sell Stop at 2.9400, Take profit at 2.8950, Stop loss at 2.9600

    ********************************************

    Global Shares Advance, Diverting Flows Away From Haven Assets, Yen Inches Lower

    Japanese Yen extended losses versus its American counterpart to a third consecutive trading session on Tuesday as global shares continued to advance, sapping investors’ appetite for safe-haven assets like the Yen.

    The currency pair USDJPY surged more than 0.5 percent on Tuesday to 110.19 yen per dollar following a rise of 0.4 percent on Monday. As the prospect of war between the U.S. and North Korea receded, Asian shares traded higher, tracing gains on Wall Street overnight.

    MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent while Japan’s Topix index surged 1.2 percent. Stock indexes from Hong Kong to Sydney were also on a rise with Hong Kong’s Hang Seng index adding 0.4 percent and Australia’s S&P/ASX 200 Index gaining 0.7 percent.

    A report from Korean Central News Agency (KCNA) on Tuesday showed that Kim Jong Un praised the military for drawing up a “careful plan” to fire missiles toward Guam but also decided not to launch a threatened missile attack on Guam, saying that saying he would watch the U.S.’s conduct “a little more.”

    Futures on the S&P 500 advanced by 0.3 percent in Asian morning session after the underlying gauge closed 1 percent higher on Monday.

    Trade suggestion

    Buy Stop at 110.250, Take profit at 110.900, Stop loss at 110.000

    **********************************************

    British Pound Declines Further After U.S. July Retail Sales Data Smash Expectations

    British Pound tumbled against its American counterpart on Tuesday after U.K. inflation came in softer than expected while U.S. retail sales data beat expectations.

    The currency pair GBPUSD dropped nearly 0.89% to plunge to $1.28500 – the lowest level since July 12th. The Office for National Statistics reported that British inflation remained unchanged at 2.6% in July which missed analysts’ expectation calling for a 2.7% reading. Inflation had risen to a four-year high of 2.9% in May but cooled to a rate of 2.6% in the next two months.

    Meanwhile, U.S. Census Bureau released July data that showed retail sales rise 0.6% on the month, compared with 0.4% expected. Core retail sales were reported to advance by 0.5% on a monthly basis, also topping forecast for a rise of 0.3%.

    Trade suggestion

    Sell Stop at 1.28450, Take profit at 1.28000, Stop loss at 1.28650

    *************************************************

    GBP/JPY

    From GMT 11:30 15/08/2017
    Till GMT 21:00 15/08/2017

    Sell at 142.000
    Take profit at 141.400
    Stop loss at 142.300

  • #39351

    Daily Report on August 14, 2017

    Tracing upbeat sentiments on Wall Street as U.S. closed the week higher last Friday, Asian shares reversed losses on Monday following three losing sessions in a row. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.7 percent after having fallen for three straight days previously due to escalating tensions between the United States and North Korea. Australian stocks also advanced, adding 0.5 percent.

    While South Korea’s KOSPI index rose 0.4 percent, Hong Kong’s Hang Seng index climbed 0.8 percent and Shanghai Composite index edged 0.2 percent higher. By contrast, Japanese equities bucked the trend on the back of a stronger yen. Japan’s Nikkei and Japan’s Topix index both fell around 1 percent. Futures on the S&P 500 Index added 0.3 percent after the underlying gauge lost 1.4 percent last week.

    According to data released by the National Bureau of Statistics, China’s factory output slowed more than expected in July. On a yearly basis, factory output was reported to rise 6.4 percent last month – the slowest pace since January. The reading decreased from 7.6 percent recorded in June and missed forecast calling for a rate of 7.2 percent in July. China’s fixed-asset investment expanded 8.3 percent in the first seven months amidst expectations calling for growth of 8.6 percent.

    Earlier on Monday, Statistics New Zealand published a report that indicated the country’s retail sales rose better than expected in the second quarter. As stated by the report, New Zealand reported retail sales jumped 2.0% in the second quarter compared to a three-month period to March. The figure far exceeded a 0.7% rise expected by economists.

    Technicals

    USDJPY

    USDJPY has been on a steady rise with recent upbeat moves sending the pair’s price action above both short-term MA20 and long-term MA50. Both ADX index and RSI index are edging higher with a widening distance between the +DI and –DI lines. The currency pair is anticipated to advance further. A resistance at 110.100 is within the sight.

    Trade suggestion

    Buy Stop at 109.600, Take profit at 110.100, Stop loss at 109.350

    AUDUSD

    AUDUSD reversed lower after having failed to cross over a dynamic resistance at the long-term MA50. The pair also fell below a support at 0.78900 and sent the price into the negative zone, as indicated by the RSI index that had inched to as low as 44.24. With downward pressure exerted by two MAs that are hanging above the price action, the pair is expected to test a support at 0.78100.

    Trade suggestion

    Sell Stop at 0.78700, Take profit at 0.78100, Stop loss at 0.79000

    USDCAD

    The currency pair USDCAD bounced back from a support at 1.26700 and is trading higher in an attempt to test a resistance at 1.27500. Recent up moves keeps the RSI index in the positive territory while sending the price action above the short-term MA20, indicating a strengthening bullish momentum in the market.

    Trade suggestion

    Buy Stop at 1.27100, Take profit at 1.27500, Stop loss at 1.26900

    GOLD

    Gold extended its down moves after having failed to bring its price action above a couple of MAs. The precious metal’s price eventually fell below the long-term MA50 and is heading lower towards a support at 1275.00. While RSI index is tumbling, ADX index is on a rise with a widening distance between the –DI and +DI lines.

    Trade suggestion

    Sell Stop at 1281.00, Take profit at 1275.00, Stop loss at 1284.00

    COPPER

    Copper has been tracing a downtrend after reversing lower from a resistance at 2.9160. The price action has penetrated a couple of MAs from above, confirming the downtrend. While RSI index continues to point downwards, ADX index is ticking higher, signaling further advances for the commodity’s prices.

    Trade suggestion

    Sell Stop at 2.8900, Take profit at 2.8700, Stop loss at 2.9000

    DOW JONES 30

    U.S. Dow Jones 30 Index has been tracing an uptrend with support from two moving averages. The price action has crossed over the long-term MA50 from below, which confirmed the uptrend. Further upbeat moves are expected as the RSI index is soaring while ADX index, which is also on a rise, is witnessing a widening gap between +DI and –DI lines.

    Trade suggestion

    Buy Stop at 21945.00, Take profit at 22050.00, Stop loss at 21900.00

    ***********************************************

    North Korea Tensions Ease, S&P500 Index Jumps Most Since Late-June

    U.S. shares advanced on Monday, recovering from last week’s sharp losses caused by tensions between the U.S. and North Korea. While the Dow Jones Industrial Average jumped more than 0.7 percent, the Nasdaq Composite Index soared more than 1.2 percent.

    Tensions over North Korea eased thanks to comments from U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson that showed Trump administration was seeking diplomatic solutions to achieve the “irreversible denuclearization” of North Korea.

    The S&P 500 index also climbed more than 1 percent on Monday, supported by technology and financial shares. All of the S&P 500 index’s primary sectors gaining on the day, helping the stock gauge recover from the biggest one-week percentage drop of 1.4% last week since March.

    The index also looked set to record the biggest one-day percentage rise since June 28th. Topping the market, technology sector jumped 1.4% while financial sector advanced 1.48%.

    Trade suggestion

    Buy Stop at 2465.00, Take profit at 2475.00, Stop loss at 2460.00

    ******************************************************

    Global Shares and Dollar Strengthen As Geopolitical Concerns Ease, Gold Ticks Down

    Gold futures price edged lower on Monday as global shares and U.S. dollar advanced, recovering from last week’s sharp losses caused by tensions between the U.S. and North Korea. Tracing upbeat moves of Asian shares, European stocks and U.S. equity futures rose, driving market appetite away from safe-havens to more risky assets.

    The Stoxx Europe 600 index jumped nearly 0.9 percent, partly paring a loss of 2.7% it suffered last week. The pan-European benchmark looked set to close higher for the first time following three days of declines in a row which sent the index to the lowest level since late February last Friday.

    While Germany’s DAX 30 index DAX soared more than 1.10% to trade at 12,145.54, France’s CAC 40 index added +0.95% and the U.K.’s FTSE 100 index climbed 0.59%. Tensions over North Korea eased thanks to comments from U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson that showed Trump administration was seeking diplomatic solutions to achieve the “irreversible denuclearization” of North Korea.

    Gold futures for September delivery lost nearly 0.7 percent to trade at $1280.00 an ounce also because the greenback strengthened. The U.S. Dollar Index which measures the currency against a half-dozen rivals, jumped 0.28 percent to 93.34. The precious metal had risen to its highest since June 6 at $1,298.10 in the prior session.

    Trade suggestion

    Sell Stop at 1280.00, Take profit at 1275.00, Stop loss at 1282.00

    **************************************************************

    USD/CHF

    From GMT 04:30 14/08/2017
    Till GMT 21:00 14/08/2017

    Buy at 0.96500
    Take profit at 0.96900
    Stop loss at 0.96300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39290


    Daily Report on August 11, 2017

    Asian shares tumbled on Friday, extending a global stock sell-off after a U.S. slump overnight. Tensions ramped up between the U.S. and North Korea, causing investors to flee into less risky assets such as the Japanese Yen, gold and U.S. government bonds. Overnight, Wall Street closed sharply lower with the Nasdaq dropping 2.1 percent while the S&P 500 and the Dow Jones Industrial Average pulling back 1.4 percent and 0.9 percent, respectively.

    Escalating tension between the U.S. and North Korea continued to dominate sentiment in financial markets after U.S. President Donald Trump on Thursday warned Pyongyang against attacking U.S. Pacific territory of Guam or U.S. allies. Stocks tumbled in Asia with MSCI’s broadest index of Asia-Pacific shares outside Japan shedding 0.6 percent in its third session of declines. The stock benchmark index looked set to close the week 1.5% lower.

    Equities in Australia and South Korea were also on a decline. While Australia’s S&P/ASX 200 Index fell 1 percent, South Korea’s Kospi index slipped 1.5 percent. The Hang Seng Index in Hong Kong gapped down by 1.5 percent while China’s Shanghai Composite Index also traded lower. Contracts on the S&P 500 Index lost less than 0.1 percent after the underlying index suffered from its steepest slide since May 17 on Thursday.

    The Australian dollar slipped versus its American counterpart after RBA governor Philip Lowe on Friday said that interest rates would rise over time, although not for a while given the fact that low wage growth, high debt and energy prices are putting pressure on consumer spending.

    Technicals

    AUDUSD

    The pair AUDUSD extended its downtrend following a period of moving sideways that had caused the price to move around a level at 0.78900. Under downward pressure exerted by two MAs which have been lingering above the price action, the pair is expected to trade lower and is likely to test a support at 0.77850. RSI is pointing downward, confirming the downtrend.

    Trade suggestion

    Sell Stop at 0.78400, Take profit at 0.77850, Stop loss at 0.78650

    NZDUSD

    NZDUSD retested a support at 0.72600 after a short correction as recent down moves had sent the market into the oversold zone, as indicated by the RSI index which is at as low as 28.48. As can be seen from the ADX chart, ADX index is edging higher with a widening gap between –DI and +DI lines. With pressure from two MAs, the pair is anticipated to trade as low as the 38.2% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 0.72500, Take profit at 0.72000, Stop loss at 0.72700

    EURJPY

    EURJPY continued to inch lower after having fallen from a firm support of 128.600 – the level that has restrained the pair from falling lower since July 13th. While RSI index is heading lower, ADX is on a rise with a widening distance between –DI and +DI lines, signaling further declines for the currency pair.

    Trade suggestion

    Sell Stop at 128.250, Take profit at 127.800, Stop loss at 128.400

    BRENT

    Brent crude has been tracing a sharp uptrend after having soared to as high as 53.610 – the highest level since May 25th. The price action has crossed over both the long-term MA50 and the short-term MA20, confirming a reversal into a downtrend. A support at 23.6% Fibonacci retracement is within the sight.

    Trade suggestion

    Sell Stop at 51.700, Take profit at 50.900, Stop loss at 52.100

    FTSE 100

    FTSE 100 index on Thursday did not only fell back into a shrinking trading range which connects lower highs and higher lows but also breach out of this range from above. The stock benchmark index is posed to trade lower with a support at 7305.00 within the sight. While RSI index is heading lower, ADX is rising with a widening gap between –DI and +DI lines, signaling further down moves.

    Trade suggestion

    Sell Stop at 7345.00, Take profit at 7305.00, Stop loss at 7365.00

    S&P 500 Index

    SP500 fell sharply on Thursday and looked set to extend its down moves in the last trading session of the week. While the RSI index has jumped into the oversold zone, ADX index continued to move higher. The index is anticipated to attempt a firm support at 2420.00.

    Trade suggestion

    Sell Stop at 2434.00, Take profit at 2420.00, Stop loss at 2340.00

    *********************************************

    Yen Soars to Two-month Highs versus Dollar As U.S.- North Korea Tensions Escalate

    Asian shares tumbled on Friday, extending a global stock sell-off after a U.S. slump overnight. Tensions ramped up between the U.S. and North Korea, causing investors to flee into less risky assets such as the Japanese Yen.

    The Yen gained ground versus the U.S. dollar on Friday, sending the pair USDJPY lower for a fourth session in a row. Overnight, Wall Street closed sharply lower with the Nasdaq dropping 2.1 percent while the S&P 500 and the Dow Jones Industrial Average pulling back 1.4 percent and 0.9 percent, respectively.

    Escalating tension between the U.S. and North Korea continued to dominate sentiment in financial markets after U.S. President Donald Trump on Thursday warned Pyongyang against attacking U.S. Pacific territory of Guam or U.S. allies. Earlier this week, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward Guam.

    Stocks tumbled in Asia with MSCI’s broadest index of Asia-Pacific shares outside Japan shedding 0.6 percent in its third session of declines. The stock benchmark index looked set to close the week 1.5% lower. Investors headed for havens like Yen in times of geopolitical tension as Japan is the world’s biggest creditor nation and it has big current account surpluses.

    The pair USDJPY lost 0.12 percent to trade at 109.07 yen – the lowest level since June 14th – in the first half of Asian trading session.

    Trade suggestion

    Sell Stop at 109.000, Take profit at 108.600, Stop loss at 109.200

    ***********************************************

    AUD/JPY

    From GMT 09:00 11/08/2017
    Till GMT 21:00 11/08/2017

    Sell at 85.500
    Take profit at 85.000
    Stop loss at 85.700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39248


    Daily Report on August 10, 2017

    Asian shares pared early gains to reverse lower on Thursday as investors have still been under pressure stemming from tension surrounding the Korean peninsula. The MSCI Asia Pacific Index was little changed while Japanese shares were mixed. The Nikkei 225 Stock Average added 0.1 percent and the Japan’s Topix index was little changed.

    Australian equities climbed with the Australia’s S&P/ASX 200 Index advancing 0.4 percent. By contrast, South Korea’s benchmark gauge extended declines with the Kospi index falling 0.2 percent following a decline of 1.1 percent on Wednesday. European stocks also fell on Thursday. While the The Stoxx Europe 600 shed 0.49%, Germany’s DAX 30 index and France’s CAC 40 index slipped 0.69% and 0.36%, respectively.

    Crude oil prices advanced on Thursday after data showed U.S. crude inventories fell more than expected last week. The Energy Information Administration on Wednesday reported that U.S. crude stockpiles dropped by 6.5 million barrels last week, which was steeper than the expected decrease of 2.7 million barrels. However, refineries were reported to boost their output to the highest percentage of capacity in 12 years with nearly 17.6 million barrels of crude last week.

    According to data released by the Cabinet Office, Japan’s core machinery orders unexpectedly inched lower for a third consecutive month in June. Core orders were posted to have decreased 1.9 percent in June from the previous month following a 3.6 percent tumble in May.

    Technicals

    NZDUSD

    NZDUSD has been under downward pressure exerted by two MAs that are hanging above the price action, especially the short-term MA20. The price action failed to cross over this dynamic resistance and has even fallen to as low as 0.72600 – the lowest level since July 18th. With a market dominated by sellers, the pair is expected to test a support at 38.2% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 0.72600, Take profit at 0.72000, Stop loss at 0.72900

    EURJPY

    EURJPY’s price action has breached a significant level at 61.8% Fibonacci retracement after having failed to surpass a resistance at 129.500. The pair retested a low of 128.650 and looked set to extend its downtrend. While the RSI index is pointing lower, the ADX index is on a rise with a widening gap between the -DI and +DI lines, signaling further declines for the pair.

    Trade suggestion

    Sell Stop at 128.600, Take profit at 128.100, Stop loss at 128.800

    AUDNZD

    AUDNZD has been on a sharp uptrend which sent its price action above the 61.8% Fibonacci retracement. The pair is retesting a high at 1.08453 – the highest level since July 20th. With the support from two MAs lingering below the price action, the pair is anticipated to trade higher, likely to attempt a resistance at 1.09000.

    Trade suggestion

    Buy Stop at 1.08500, Take profit at 1.09000, Stop loss at 1.08300

    Natural Gas

    Natural gas futures prices have been trading around a level at 2.8800 after having surged to the highest level since July 31st. After a short correction, the price extended its rally. While the RSI index is soaring to as high as 68.06, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, which suggest further advances for the commodity

    Trade suggestion

    Buy Stop at 2.8950, Take profit at 2.9500, Stop loss at 2.8700

    SILVER

    Silver has been tracing a strong uptrend after having surpassed a resistance at 16.850. As can be seen from the chart, the RSI index has been on a rise, hitting a high of 76.31, indicating a strengthening bullish momentum in the WTI market. ADX index is also edging higher, signaling further advances.

    Trade suggestion

    Buy Stop at 17.060, Take profit at 17.260, Stop loss at 16.960

    FTSE 100

    After a period of moving sideways above the level of 7480.00, U.K.’s FTSE 100 index gapped down and fell into a shrinking trading range. The price action also crossed over both the short-term MA20 and the long-term MA50 from above, suggesting a reversal into a downtrend. A support at 7360.00 is within the sight.

    Trade suggestion

    Sell Stop at 7410.00, Take profit at 7360.00, Stop loss at 7435.00

    ********************************************************

    RBNZ To Hold Rates Until Q3 2019, New Zealand Dollar Sinks

    New Zealand dollar lost ground versus most of its peers on Thursday after its central bank held interest rates at a record low for a fifth consecutive time and announced that the rate might not be hiked in the next two years due to weak inflation.

    The kiwi dropped more than 0.4 percent against its American counterpart to trade at $0.7308 – the lowest level since July 18th. In a statement after the Reserve Bank of New Zealand (RBNZ) having kept the official cash rate at 1.75 percent, Governor Graeme Wheeler said that “Monetary policy will remain accommodative for a considerable period”.

    New Zealand’s inflation slowed to 1.7 percent in the June quarter after a rise of 2.2 percent in the three-month period to March which marked the first time in five years that inflation returned to the central bank 2 percent goal. For the first quarter of 2018, RBNZ forecast the rate would decline to 0.7 percent – lower than it previously expected.

    Meanwhile, a strong New Zealand dollar continues to put pressure on import prices and suppresses inflation. Governor Graeme Wheeler claimed that “A lower New Zealand dollar is needed to increase tradables inflation and help deliver more balanced growth,” given the fact that the local dollar has added 6 percent so far this year.

    Trade suggestion

    Sell Stop at 0.73000, Take profit at 0.72600, Stop loss at 0.73200

    *************************************************************

    GBP/JPY

    From GMT 07:00 10/08/2017
    Til GMT 21:00 10/08/2017

    Sell at 142.600
    Take profit at 142.000
    Stop loss at 142.900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39243


    Daily Report on August 09, 2017

    Asian shares dropped while investors piled into safe-havens assets such as U.S. Treasuries, gold, Swiss Franc and the yen amidst escalating tensions on the Korean peninsula. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.7 percent, while Japanese equities were broadly lower due to the fact that the stronger yen sapped investors’ appetite.

    Japan’s Nikkei index and Topix index fell 1.5 and 1.3 percent, respectively. South Korean shares shed 0.9 percent, while the won sank around 0.7 percent to 1,136.4 to the dollar. By contrast, the Swiss Franc rallied versus most of its rivals, jumping to a one-week high against the U.S. dollar. Gold futures advanced by 0.4 percent to $1,265.32 an ounce, extending their rally after climbing 0.3 percent on Tuesday.

    In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

    Crude oil prices remained weak even after the American Petroleum Institute on Tuesday reported that U.S. inventories dropped by 7.893 million barrels at the end of last week, far more than the 2.2 million barrels decline seen. The U.S. Energy Information Administration is scheduled to release its official weekly petroleum status report later in the day.

    Technicals

    NZDJPY

    NZDJPY has been tracing a steep downtrend which sent the currency pair to seven-week lows at 80.413. The price action has breached a significant level at 61.8% Fibonacci retracement while the RSI index has entered the oversold zone. With ADX index has still been on a rise, the pair is expected to test a support at 50.0% Fib. level.

    Trade suggestion

    Sell Stop at 80.300, Take profit at 79.700, Stop loss at 80.600

    GBPUSD

    GBPUSD has been moving sideways following a sharp down move that pushed the currency down to the lowest level since July 21st. The pair looked set to tick down further as the market has been dominated by sellers, not to mention downward pressure exerted from two MAs hanging above the price action. A support at 23.6% Fibonacci retracement is expected to be tested.

    Trade suggestion

    Sell Stop at 1.29700, Take profit at 1.29200, Stop loss at 1.29900

    CADJPY

    CADJPY has been trading lower, dropping to the lowest level since early-July at 86.626. The pair bounced back a little bit due to a correction after the market had been sent to the oversold zone. However, downbeat moves are forecast to extend as the ADX index continues to point upwards. A support at 86.000 is within the sight.

    Trade suggestion

    Sell Stop at 86.600, Take profit at 86.000, Stop loss at 86.900

    USDCAD

    USDCAD extended its up moves following a period of consolidation. With the support from two MAs lingering below the price action, the currency pair is anticipated to inch higher in an attempt to test a resistance at 1.27600. RSI and ADX indices are rising, confirming further upbeat moves.

    Trade suggestion

    Buy Stop at 1.27000, Take profit at 1.27600, Stop loss at 1.26700

    GOLD

    Gold futures prices have been trading sideways around the level 1265.00 after having hit the highest level since last Friday. The market has still been dominated by buyers as RSI is at as high as 61.59. With support from two MAs, the precious metal price is forecast to extend its rally to a resistance at 1270.00.

    Trade suggestion

    Buy Stop at 1265.00, Take profit at 1270.00, Stop loss at 1263.00

    DAX 30

    Germany’s DAX 30 Index gapped down on Wednesday, sending its price action below both a significant level at 23.6% Fibonacci retracement and two moving averages that had been lingering below the price action. RSI fell below the level 50, indicating a strengthening bearish momentum in the market. A support at 12090.00 is expected to be tested.

    Trade suggestion

    Sell Stop at 12200.00, Take profit at 12090.00, Stop loss at 12250.00

    *******************************************

    Swiss Franc Advances to One-week Highs Against Dollar Amid Escalating Geopolitical Tensions

    The Swiss Franc rallied versus most of its rivals, jumping to a one-week high against the U.S. dollar amidst rising geopolitical tensions stemming from the Korean Peninsula.

    The pair USDCHF plunged more than 0.7 percent in Asian trading session to trade near the lowest level in one week at 0.96688 franc. The currency recovered a little bit following a retreat to 0.96566 – its weakest since August 02nd as geopolitical tensions have ramped up.

    In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

    Trade suggestion

    Sell Stop at 0.96650, Take profit at 0.96300, Stop loss at 0.96800

    ******************************************************

    Investors Flock Into Safe-havens Assets, Gold Jumps The Most in Two Months

    Gold futures rallied on Wednesday as investors moved toward safety plays amidst escalating tension between North Korea and the U.S. that dragged down U.S. shares. U.S. stock benchmark index extended a modest retreat from record levels logged earlier this week.

    The precious metal surged 1.24 percent to trade at $1,272.00 an ounce in North American trading session, looking set to record the biggest jump in two months. Investors piled into safe-havens assets like gold as geopolitical tensions have ramped up, sapping investors’ appetite for risky investments.

    In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

    The Dow Jones Industrial Average lost nearly 0.3 percent, the S&P 500 index shed 0.36 percent while the Nasdaq Composite Index even declined more sharply, slipping more than 0.7 percent.

    Trade suggestion

    Buy Stop at 1273.00, Take profit at 1278.00, Stop loss at 1271.00

    *************************************************

    AUD/NZD

    From GMT 08:30 09/08/2017
    Till GMT 21:00 09/08/2017

    Buy at 1.07800
    Take profit at 1.08200
    Stop loss at 1.07600

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39209

    Daily Report on August 08, 2017

    Asian shares were litter changed on Tuesday, taking a breather close to the highest since 2007 following the release of disappointing Chinese trade data. Overnight, U.S. shares advanced on Wall Street with the Dow and the Nasdaq index rising 0.12 percent and 0.51 percent, respectively. The S&P 500 rose 0.2 percent to an all-time high on Monday but its futures index fell 0.1 percent in Asian trading session.

    MSCI’s broadest index of Asia-Pacific shares outside Japan was be barely changed after giving up modest early gains while Japanese shares retreated. Indeed, Japan’s Nikkei and Japan’s Topix index both eased 0.3 percent. Australia’s S&P/ASX 200 Index lost even 0.6 percent, whereas, South Korea’s Kospi index and Hong Kong’s Hang Seng Index swung between gains and losses.

    China’s main markets remained weak after data released by the Customs General Administration of China showed that exports and imports both grew much less than expected in July. China’s export growth was reported to slow to 7.2 percent in July from a year earlier, falling to reach analysts’ expectation calling for a 10.9 percent gain. The reading marked the weakest pace since February.

    Meanwhile, imports also witnessed the slowest growth since December. China’s imports jumped 11.0 percent, down from a 17.2 percent rise in the previous month and well below expectations of 16.6 percent growth. China’s trade balance hit a surplus of $46.74 billion for the month, the highest since January. The reading surpassed forecasts for $46.08 billion.

    Crude oil prices extended losses in Asian trading on Tuesday with both global benchmark Brent crude futures and U.S. crude futures down 0.4 percent. The decline came after news showed a recovery in output at Libya’s largest oil field known as Sharara field. Production from the field that could give an output of 270,000 bpd returned to normal after a brief disruption, the National Oil Corporation (NOC) reported on Monday.

    Technicals

    NZDJPY

    NZDJPY has been tracing a steady downtrend after reversing lower from six-month highs that logged on July 27th. The currency pair has been under downward pressure from the short-term MA20 that is hanging above the price action. The RSI has stepped into the oversold zone while the ADX index is heading higher, indicating a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 81.250, Take profit at 80.700, Stop loss at 81.500

    GBPCHF

    GBPCHF has been moving sideways round the level of 1.26700 since last Friday. The short-term MA20 has crossed over the long-term MA50, confirming a reversal into the downtrend. RSI continued to head down, moving to as low as 44.29, which indicates a market dominated by sellers. The pair is forecast to trade lower to hit a support at 1.26000.

    Trade suggestion

    Sell Stop at 1.26700, Take profit at 1.26000, Stop loss at 1.27000

    GBPJPY

    GBPJPY has been edging lower with lower highs and lower lows formed in the price chart. With the price action breaking out of a shrinking trading range from above and sellers jumping into the market (as indicated by RSI index that is at as low as 36.36), the pair is expected to trade lower, likely to test a support at 143.600.

    Trade suggestion

    Sell Stop at 144.200, Take profit at 143.600, Stop loss at 144.500

    WTI

    U.S. rebounded higher following a period of trading sideways as the price twisted with a couple of moving averages. The RSI index has been on a rise, hitting as high 57.48, indicating a strengthening bullish momentum in the WTI market. The commodity is anticipated to extend its up move in an attempt to test a resistance at 50.370.

    Trade suggestion

    Buy Stop at 49.600, Take profit at 50.370, Stop loss at 49.300

    GOLD

    Gold has inched higher, sending its price action above both the long-term MA50 and the short-term MA20. While the RSI index is soaring to as high as 61.75, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, which suggest further advances for the precious metal. A resistance at 1265.00 is within the sight.

    Trade suggestion

    Buy Stop at 1261.00, Take profit at 1265.00, Stop loss at 1259.00

    ******************************************************

    U.S. Dollar Rallies After JOLTS Job Openings Jump More Than Expected

    The U.S. dollar jumped sharply versus all of its major rivals after data showed the number of job openings in the U.S. rose much more than expected in June. The surge in the greenback weighed the pair EURUSD back down the lowest level since last Friday.

    Indeed, euro plunged to as low as $1.17600, down more than 0.3 percent on the back of the release of the monthly Job Openings and Labor Turnover Survey on Tuesday. The U.S. Labor Department reported that the number of job openings, excluding the farming industry rose to 6.163 million in June from 5.702 million a month earlier. May’s figure was revised upwards from the original reading of 5.666 million.

    June’s reading did not only mark a fresh record but also easily smashed analyst’ forecast calling for an increase to 5.775 million in the number of job openings. The dollar was supported after the data release as it bolstered optimism over an improving U.S. labor market where employers actively seek workers.

    Meanwhile, hiring decreased, reflecting the fact that companies are having trouble finding employees with enough skills. As a result, wages are expected to be raised, which would boost spending and send inflation towards the central bank’s target of 2%.

    Trade suggestion

    Sell Stop at 1.17600, Take profit at 1.17000, Stop loss at 1.17900

    *******************************************************

    Marriott Downgrades Q3 Earnings Forecast, Shares Lose 3% in Extended Session

    Shares of Marriott International Inc. lost nearly 3% in late trading after having closed the regular trading session 1.1% higher. The hospitality company reported a better-than-expected Q2 earnings but forecasts profit in the current quarter would come below analysts’ expectations.

    Marriott shares plunged by 2.99% in after-hours trading to trade at $103.00 per shares after earnings results showed net income of $414 million, or $1.08 a share on sales of $5.8 billion for the three-month period to June 30. This marked an increase from earnings of 97 cents a share on sales of $3.9 billion recorded in the same period last year.

    After adjustments for one-time items, the world’s largest hotel chain claimed earnings of $1.13 a share which easily topped market forecast calling for adjusted earnings of $1.01 a share on revenue of $5.64 billion.

    Marriott on Monday said it would partner with China’s Alibaba Group Holding Ltd on a travel venture that would allow Chinese travelers to book rooms at Marriott hotels via Alibaba’s travel service platform known as Fliggy.

    Despite the plan to aim at the growing number of Chinese citizens travelling abroad who are expected to take an estimated 700 million trips over the next five years, Marriott anticipates its forecast for earnings in the third quarter to be in a range of 96 cents to 99 cents a share, which is slightly lower than analysts’ expectations of $1.01 a share. Revenue the company expects to earn this year from its rooms in North America is forecast to rise between 1 to 2 percent in fiscal 2017, a decrease from its previous forecast of an increase of rise of 1 to 3 percent.

    Trade suggestion

    Sell Stop at 103.00, Take profit at 100.00, Stop loss at 104.00

    *******************************************************

    GBP/AUD

    From GMT 06:00 08/08/2017
    Till GMT 21:00 08/08/2017

    Sell at 1.64550
    Take profit at 1.63900
    Stop loss at 1.64800

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39143


    Daily Report on August 07, 2017

    Asian shares rebounded higher, returning to the highest level in almost 10 years following a strong advance on Wall Street last Friday. Strong U.S. hiring data bolstered optimism about economic growth in the world’s largest economy and sent U.S. stock benchmark index higher at the close with the Dow Jones Industrial Average ending at its eighth straight record high.

    The MSCI Asia-Pacific Index jumped 0.6 percent to trade close to its highest since December 2007 while Japanese shares also gained ground as the currency Yen clung to losses. Indeed, Japan’s Topix index rose 0.6 percent, on course for a two-year high, boosted by earnings data at Toyota Motor Corp which showed first-quarter profit beat estimates and rosy full-year forecast.

    Benchmarks in Australia, South Korea and Hong Kong also edged higher. The S&P/ASX 200 Index in Sydney climbed 1 percent, with gains led by shares of miners and banks. Meanwhile, South Korea’s Kospi index jumped 0.5 percent and the Hang Seng Index rose 0.4 percent. By contrast, Shanghai Composite was flat.

    Crude oil prices edged lower with West Texas Intermediate crude and global benchmark Brent losing 0.1 percent. Data released by the energy services firm Baker Hughes on Friday showed U.S. drillers cut one oil rig in the week to Aug. 4, bringing the total count down to 765. Representatives of Organization of Petroleum Exporting Countries meet with their allies in Abu Dhabi on Monday and on Tuesday to discuss ways to boost compliance with their supply reduction agreement.


    Technicals

    NZDUSD

    NZDUSD has been tracing a sharp downtrend as the currency pair has been under downward pressure exerted by two MAs that are hanging above the price action. While the RSI index is pointing downward, ADX index is heading higher with a widening gap between –DI and +DI lines, suggesting further declines for the pair.

    Trade suggestion

    Sell Stop at 0.73700, Take profit at 0.73100, Stop loss at 0.74000

    USDCAD

    USDCAD rebounded higher following a period of correction as the pair had jumped to the highest since mid-July. The RSI index is pointing upwards, whereas, ADX index is heading higher with a widening gap between +DI line and -DI line, signaling further advances for the currency pair. A resistance at 1.27600 is within the sight.

    Trade suggestion

    Buy Stop at 1.26800, Take profit at 1.27600, Stop loss at 1.26400

    EURAUD

    EURAUD bounced back from a significant support at 23.6% Fibonacci retracement after a period of moving sideways around this level. The price action has crossed over the long-term MA50 from below after having surpassed the short-term MA20. The pair is expected to extend its upbeat moves with RSI index is at as high as 59.36.

    Trade suggestion

    Buy Stop at 1.49100, Take profit at 1.49600, Stop loss at 1.48900

    GBPNZD

    GBPNZD has been on a steady rise after having bounced back from a firm support at 1.75650. The price did not only breach the 61.8% Fibonacci retracement but also surpassed two MAs from below. Both RSI and ADX indices are soaring, which suggests the pair may head higher to retest a resistance at 1.77900.

    Trade suggestion

    Buy Stop at 1.77200, Take profit at 1.77900, Stop loss at 1.76900

    BRENT

    Brent crude price retreated as the bullish trend failed to sustain further advances. Lower highs were formed in the chart, showing a weakening bullish momentum. The price action has fallen below two MAs, which suggests a reversal into a downtrend. With RSI having dropped to as low 46.100, the commodity’s price is expected to test the 23.6% Fib. retracement.

    Trade suggestion

    Sell Stop at 51.700, Take profit at 51.000, Stop loss at 52.000

    CAC40

    As can be seen from the chart, the stock benchmark index has been advancing with its price action breaking out of a slopping downward trading range. RSI index is pointing upwards, whereas, ADX index is heading higher with a widening gap between +DI line and -DI line, signaling further advances for the index.

    Trade suggestion

    Buy Stop at 5220.00, Take profit at 5260.00, Stop loss at 5200.00

    **************************************************

    Sterling Ticks Down While Mining Shares Advance, FTSE 100 Index Trades Higher

    U.K. shares extended gains on Monday, bolstered by strength in mining stocks and a weakening British Pound. The FTSE 100 index added nearly 0.2% to trade at a six-week high at 7525.00 in afternoon session after having closed higher by 0.5% last Friday.

    The blue-chip benchmark index hovered around the highest level since June 19th, 2017 with a sharp increase of 2% last week – the biggest weekly gain since December. Mining shares led gains in the market due to the fact that iron ore prices jumped by roughly more than 6%.

    Shares of BHP Billiton PLC climbed by more than 1.7 percent while shares of its rival Rio Tinto PLC also added around 1.73 percent. Shares of iron ore producer Anglo American drove up 2% while Glencore PLC witnessed even more impressive up moves with an increase of nearly 2.5% in equities.

    The Baar, Switzerland- based commodities miner and trader is scheduled to publish second-quarter results on Thursday.

    Shares of oil majors also traded higher even though crude oil price remained weak. Shares of BP PLC added 0.53% while those of Royal Dutch Shell PLC edged 0.36% higher.

    Meanwhile, Sterling reversed lower against most of its peers on Monday, paring its gains versus the U.S. dollar in early trade. The pair GBPUSD lost more than 0.15% to linger around $1.3020.

    Trade suggestion

    Buy Stop at 7525.00, Take profit at 7560.00, Stop loss at 7510.00

    ***************************************************

    USD/CAD

    From GMT 04:00 07/08/2017
    Til GMT 21:00 07/08/2017

    Sell at 1.26300
    Take profit at 1.25800
    Stop loss at 1.26500

    ****************************************************

    NZD/JPY

    From GMT 16:40 07/08/2017
    Till GMT 21:00 07/08/2017

    Sell at 81.400
    Take profit at 81.000
    Stop loss at 81.600

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39122


    Daily Report on August 04, 2017

    Asian shares were mixed on Friday following a technology-led drop on Wall Street in the previous session. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.2 percent higher, poised to climb 0.3 percent for the week. Meanwhile, Japanese stocks lost ground. Due to a strong yen, Japan’s Topix index slid 0.2 percent and Nikkei index dropped 0.3 percent. Both indices looked set to end the week little changed.

    Overnight, while the Dow Jones Industrial Average edged up to a seventh straight record high, staying above the 22,000 level breached on Wednesday, the S&P and Nasdaq closed 0.2 percent and 0.35 percent lower respectively, weighed down by Amazon.com, Apple (NASDAQ:AAPL) and other top-shelf technology stocks. South Korea’s KOSPI recovered 0.3 percent on Friday after having closed at a 3-1/2-week low on Thursday.

    According to data released by the Australian Bureau of Statistics on Friday, Australian retail sales rose in June. Supported by a recent strong improvement in the country’s job market, the country’s retail sales rose by 0.3% in June from May, above analysts’ expectation for a 0.2% rise for the months. On a quarterly basis, retail sales gained 1.5%, beating an expected up 1.2% on quarter gain.

    Crude oil futures dipped on Friday after a report showed exports by the Organization of the Petroleum Exporting Countries (OPEC) rose to a record high in July. According to the data, OPEC’s crude oil exports jumped to 26.11 million barrels per day (bpd) last month, marking a rise of 370,000 bpd. Meanwhile, U.S. oil production reached the highest since August 2015 at 9.43 million bpd and up 12 percent from its most recent low in June last year.

    Technicals

    EURJPY

    EURJPY rebounded from a strong support at 130.550 and is facing a dynamic resistance at the short-term MA20. The pair, with support from two MAs hanging below the price action, is expected to break out of this resistance and head higher to a level 131.350. RSI is at as high as 53.68, indicating a strengthening bullish force in the market.

    Trade suggestion

    Buy Stop at 130.850, Take profit at 131.350, Stop loss at 130.600

    GBPCHF

    The currency pair GBPUSD is likely to extend its down moves following a consolidation that came after a sharp drop from the 38.2% Fibonacci retracement. The price action has crossed over the short-term MA20 and is heading downwards to a support at 1.26400 where the long-term MA50 is also within the sight.

    Trade suggestion

    Sell Stop at 1.27100, Take profit at 1.26400, Stop loss at 1.27400

    Natural Gas

    Natural gas futures prices retreated after having failed to surpass a significant level at 23.6% Fibonacci retracement. Under downward pressure from two MAs, the commodity’s price is expected to trade lower, likely to breach a firm support at 2.7800 – the level that has restrained the price from falling since July 31st. Another strong support at 2.7270 is anticipated to be tested.

    Trade suggestion

    Sell Stop at 2.7720, Take profit at 2.7270, Stop loss at 2.950

    SILVER

    Silver has been tracing an uptrend after breaking out of a period of trading. The short-term MA20 has crossed over the long-term MA50 from below, suggesting a strengthening uptrend. While RSI index is soaring, ADX is also on a rise with a widening gap between +DI and -DI lines, signaling further advances for the precious metal.

    Trade suggestion

    Buy Stop at 16.730, Take profit at 16.850, Stop loss at 16.670

    ********************************************

    U.S. Dollar Takes Off After Impressive 209K Jobs Added in July, Sterling Tumbles

    The U.S. dollar rallied on Friday after the Bureau of Labor Statistics released July jobs data that easily beat Wall Street expectations. The sharp surge of the greenback pushed the British Pound to the lowest level in more than one week.

    The currency pair GBPUSD tumbled more than 0.7 percent to trade at $1.30400 – the lowest since July 26th – in North American trading session, looking set to close the week lower. The greenback was supported strongly after the highly-awaited report showed the country created 209,000 new jobs last month.

    The reading topped Wall Street forecasts for 175,000 jobs to have been added in July. In total, the U.S. has created nearly 450,000 new jobs in the past two months, pushing the jobless rate back down to a 16-year low of 4.3% from 4.4% recorded in the previous month. On a monthly basis, pay rose 0.3% in July to an average of $26.36 an hour, remaining at the year-over-year growth rate of 2.5% as in the prior month.

    Trade suggestion

    Sell Stop at 1.30400, Take profit at 1.30000, Stop loss at 1.30600

    ***************************************************

    Kraft Heinz Raises Q2 Dividend As Earnings Helped by Cost Cuts Amid Weak U.S. Sales

    Shares of Kraft Heinz Co added more than 1% in after-market trading on Thursday after the food giant reported sales missed forecasts but adjusted earnings above Wall Street expectations.

    Kraft Heinz’s shares edged 1.14% higher to trade at $87.50 in extended session after the food and beverage conglomerate posted net income of 1.16 billion, or 94 cents per share, in the latest quarter. This marked a rise of 50.5 percent compared with $770 million, or 63 cents a share, in the year-ago quarter.

    Excluding certain items, the Chicago, Illinois – based company earned 98 cents a share in the quarter, up from 85 cents a share a year ago and 3 cents ahead of analysts’ average estimate.

    Due to a decline in U.S. sales, which account for more than two-thirds of Kraft’s total revenue, the company’s revenue dropped 1.7 percent to $6.68 billion from $6.79 billion a year ago and missed analysts’ average estimate of $6.73 billion.

    However, Kraft Heinz raised quarterly dividend to 62.5 cents a share from the prior quarterly dividend rate of 60 cents a share as the company kept a tight leash on costs. Selling, general and administrative expenses were reported to plunged by 15 percent to $760 million in the second quarter ended July 1.

    Trade suggestion

    Buy Stop at 87.50, Take profit at 89.00, Stop loss at 87.00

    ******************************************************

    USD/JPY
    From GMT 12:30 04/08/2017
    Till GMT 21:00 04/08/2017

    Buy at 110.600
    Take profit at 111.000
    Stop loss at 110.400

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39095

    Daily Report on August 03, 2017

    Asian shares retreated on Thursday after having surged to the highest level in almost 10 years in the previous session. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.6 percent from its highest since December 2007, with losses led by South Korea’s tech-heavy Kospi index. The Dow Jones Industrial Average topped the 22,000 mark for the first time on Wall Street on Wednesday on the back of sharp up moves in Apple shares following its earnings.

    Leading the declines, South Korean shares dropped by the most since November after President Moon Jae-in announced plans to raise taxes on big corporations and high-earning individual. South Korean tech shares were also hit hard as shares of Samsung Electronics Co. – the largest weighting on the Kospi index – tumbled as much as 3.8 percent.

    Japanese equities were also on a decline. Japan’s Nikkei dropped 0.3 percent while Topix index dropped 0.1 percent. Australia’s S&P/ASX 200 Index lost 0.2 percent, Hong Kong’s Hang Seng Index also slid 0.2 percent and the Shanghai Composite Index shed 0.3 percent.

    According to data released by Financial information firm IHS Markit Ltd., activity in the U.K.’s services sector grew faster in July from June’s four-month low. U.K.’s services PMI rose to 53.8 in July from 53.4 a month earlier, slightly below the expectations of analysts calling for a reading of 53.9.


    Technicals

    AUDNZD

    AUDNZD had been trapped between the short-term MA20 and the long-term MA50 before breaking out of the MA50 from above to trade lower. The price action also fell below a firm support at 50.0% Fibonacci retracement, indicating a strengthening bearish force formed in the market. RSI is pointing downwards, suggesting further declines.

    Trade suggestion

    Sell Stop at 1.06950, Take profit at 1.06600, Stop loss at 1.07100

    GBPAUD

    GBPAUD has been struggling around a resistance at 1.67000 after having soared to the highest level in more than two weeks in the previous session. With support from two MAs lingering below the price action, the currency pair is anticipated to edge higher to attempt a significant level at 50.0% Fibonacci retracement.

    Trade suggestion

    Buy Stop at 1.67100, Take profit at 1.67100, Stop loss at 1.66800

    WTI

    WTI has broken out of a period of trading sideways as the price action had faced a resistance at the short-term MA20. The commodity price is expected to trade higher, attempting to test a fixed resistance at 50.800 as the market is dominated by bullish force. RSI index has surged above 50, confirming the uptrend.

    Trade suggestion

    Buy Stop at 49.800, Take profit at 50.800, Stop loss at 49.300

    SILVER

    Silver has been tracing a downtrend under downward pressure from two moving averages which are hanging above the price action. The precious metal is expected to trade lower, possibly testing a support at 16.350 as the RSI index has fallen to as low as 40, which indicates a strengthening bearish momentum in the market.

    Trade suggestion

    Sell Stop at 16.450, Take profit at 16.350, Stop loss at 16.500

    ******************************************************

    Shares of Tesla Jump Nearly 8% on Upbeat Earnings and Rising Delivery Forecasts

    Shares of Tesla Inc. rose as high as 8 percent in late trade on Wednesday after the car market reported sales above Wall Street expectations and predicted increased Model S deliveries in the second half of 2017.

    Tesla’s shares jumped as much as 7.45 percent to trade at $350.16 in after-hours trading after ending the regular session up 2%. Tesla reported that it lost $336.4 million or $2.04 a share in the second quarter, which was larger than a loss of $293.2 million, or $2.09 a share recorded one year ago.

    However, adjusted for one-time items, Tesla lost only $1.33 a share, well below $1.61 a share a year ago and analysts’ expectation for a loss of $1.88 a share. Besides a narrower-than-expected second-quarter loss, the Silicon Valley car maker posted revenue of $2.8 billion, up from $1.3 billion a year ago and beating forecast of $2.52 billion in revenue.

    Tesla claimed that Model S demand was increasing, and therefore, Model S and X deliveries are expected to rise in the second half of 2017.

    Trade suggestion

    Buy Stop at 350.20, Take profit at 360.00, Stop loss at 345.00

    **************************************************************

    Sterling Tumbles After the BOE Holds Rates but Cuts Growth Rate Forecasts

    The British pound slumped versus most of its rivals including the U.S. dollar after the Bank of England cut its U.K. growth outlook on expectation that Brexit will continue to take a toll on U.K. investment and growth.

    Sterling pulled away from an 11-month high of 1.3266 hit earlier in the session and dropped more than 0.8 percent to $1.3111, heading for the biggest drop since June. The BOE left interest rates on hold at record lows of 0.25 percent after its monetary policy meeting on Thursday.

    The central bank also cut its economic growth forecast for this year and next. Particularly, the BOE forecasts economic growth of 1.7 percent this year and 1.6 percent in 2018. These figures marked a decrease from previously expectations calling for growth rate of 1.9 percent in 2017 and 1.7 percent next year.

    Trade suggestion

    Sell Stop at 1.31200, Take profit at 1.30700, Stop loss at 1.31400

    **********************************************************************

    EUR/AUD
    From GMT 15:30 03/08/2017
    Till GMT 21:00 03/08/2017

    Buy at 1.49600
    Take profit at 1.50100
    Stop loss at 1.49400

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39065


    Daily Report on August 02, 2017

    Asian shares advanced on Tuesday with gains in technology stocks offset losses in basic materials and energy. The MSCI’s broadest index of Asia-Pacific shares outside Japan was steady near its highest since late 2007, helped by a jump of 0.8 percent in the MSCI tech index for Asia which was trading in territory not trod since early 2000. Impressive earnings result from tech giant was behind bullish sentiment in the sector.

    Meanwhile, Japan’s Nikkei rose 0.4 percent and Topix index gained 0.5 percent as Japanese yen lost ground versus most of its rivals. Hong Kong’s Hang Seng Index added 0.4 percent, while the Shanghai Composite Index was little changed. South Korea’s Kospi index also traded higher, advancing 0.2 percent. By contrast, Australia’s S&P/ASX 200 Index lost 0.4 percent.

    Crude oil prices remained weak after having tumbled on Wednesday, depressed by a weekly report show U.S. fuel inventories rose last week. The American Petroleum Institute on Tuesday reported that U.S. crude stocks rose by 1.8 million barrels to 488.8 million in the week ending July 28 amid expectations calling for a draw of 3.2 million barrels. Official figures are due to be published by the U.S. Energy Information Administration (EIA) later in the day.

    The New Zealand dollar was struck by data released by Statistics New Zealand early Wednesday which showed hiring declined unexpectedly in the country. The national unemployment rate was reported to hit a nine-year low at 4.8% in the June quarter. The reading was in line with market expectations and lower than the 4.9% rate reported in the previous quarter. However, employment dropped by 0.2% to 2.535 million people, missing forecasts for a rise of 0.7%.

    Technicals

    EURJPY

    EURJPY successfully broke out of a firm resistance at 130.550 – the level that had restrained the currency pair from trading higher since July 11th. With upward support from two MAs which are lingering below the price action, the pair is expected to advance further. RSI and ADX indices which are on rise confirmed the uptrend.

    Trade suggestion

    Buy Stop at 131.100, Take profit at 131.500, Stop loss at 130.900

    GBPNZD

    GBPNZD surpassed a strong resistance at 1.77500 and is heading higher, attempting to test another significant resistance at 50.0% Fibonacci retracement. While RSI index has jumped into the overbought zone, the ADX is soaring steadily, signaling further advances for the currency pair.

    Trade suggestion

    Buy Stop at 0.78100, Take profit at 0.78900, Stop loss at 0.77700

    GBPJPY

    GBPJPY has broken out of a shrinking trading range which witnessed lower highs and higher lows formed along the way. A breakout from below suggests further advances with a resistance at 147.600 within the sight. RSI is heading towards the overbought zone, confirming the uptrend.

    Trade suggestion

    Buy Stop at 146.700, Take profit at 147.600, Stop loss at 146.300

    FTSE 100 Index

    FTSE 100 index retreated after having failed to surpass a firm resistance at 7430.00. The pair has also been under downward pressure, as indicated by lower highs formed along the way. The price action fell below a couple of MAs. With RSI falling below the level 50 while –DI line converging with +DI line, the stock benchmark index is anticipated to test a support at 7360.00.

    Trade suggestion

    Sell Stop at 7400.00, Take profit at 7360.00, Stop loss at 7420.00

    ***********************************************

    Apple Shares Soar to Would-be-record-highs Levels After Earnings Beat

    Shares of Apple Inc. rallied more than 6 percent in extended session on Tuesday after the tech giant announced stronger-than-expected quarterly earnings while its iPhone sales met expectations.

    Apple shares jumped 6.3 percent in after-hours trading to trade at $159.50, which would be a fresh record high if maintained during regular trading. The California-based company reported fiscal third-quarter earnings of $8.72 billion, or $1.67 a share, well above $7.8 billion, or $1.42 a share, a year earlier. Analysts had expected earnings of $1.57 a share.

    Apple posted revenue of $45.41 billion, up from $42.36 billion recorded one year ago and topping analysts’ estimate of $44.89 billion. Sales of iPhones were reported to reach 41.03 million, advancing from 40.4 million in the same period last year and beating expectations calling for sales of 41 million units.

    The iPhone marker anticipates fiscal fourth-quarter revenue to hit a range of $49 billion to $52 billion.

    Trade suggestion

    Buy Stop at 159.00, Take profit at 161.00, Stop loss at 159.00

    ****************************************************

    Gold Futures Advance After Weaker-than-expected U.S. Jobs Data

    Gold futures prices held near seven-week highs on Wednesday, supported by a weaker U.S. dollar that traded lower after data showed fewer new jobs than expected were created in the United States in July.

    Gold futures for September delivery advanced above $1270.00 per ounce in North American trading session after a report on ADP Nonfarm Employment Change showed a rise of 178K new nonfarm private employment jobs. However, the reading was short of the forecast of 187K and marked a decrease over June’s 191K.

    The U.S. Labor Department will release its July nonfarm payrolls report on Friday which is expected to show jobs growth of 183,000 this month, following an increase of 222,000 in June. Unemployment rate is forecast to dip to 4.3% from 4.4% while average hourly earnings might have risen 0.3% after gaining 0.2% a month earlier.

    Trade suggestion

    Buy Stop at 1271.00, Take profit at 1277.00, Stop loss at 1268.00

    *********************************************************

    GBP/AUD
    From GMT 09:50 02/08/2017
    Till GMT 21:00 02/08/2017

    Buy at 1.66300
    Take profit at 1.67000
    Stop loss at 1.66000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #39014


    Daily Report on August 01, 2017

    Asian stock markets traded higher on Tuesday after the Dow Jones Industrial Average eked out a fresh record high on Wall Street in the previous session. The MSCI Asia Pacific Index jumped 0.7 percent in the first trading session of the new month after having advanced for a seventh month in July. Meanwhile, Japanese shares also advanced after upbeat corporate earnings results.

    Japan’s Topix index rose 0.5 percent, supported by gains in banks’ equities after Sumitomo Mitsui Financial Group Inc. – the second largest bank in Japan by market value – reported a 31 percent increase in net income for the June quarter. Australia’s S&P/ASX 200 Index surged 0.7 percent while South Korea’s Kospi index soared sharply 1.1 percent.

    The Hang Seng Index in Hong Kong and the Shanghai Composite Index climbed 0.8 percent and 0.4 percent, respectively. According to data released by Markit, the Caixin manufacturing PMI came in at 51.1, well above expectation calling for a reading of 50.4. Any level above 50 denotes expansion.

    The Australian dollar tumbled to as low as 0.79943 after the Reserve Bank of Australia left its cash rate at 1.5 percent on Tuesday, as widely expected decision given policy makers. The central bank also said an appreciating exchange rate which witnessed the Aussie trading near nearly-two-year highs versus the dollar would result in a slower pick-up in economic activity and inflation than currently forecast.

    Crude oil futures continued to trade higher on Monday with U.S. West Texas Intermediate (WTI) crude futures jumping above $50 per barrel for the first time since late May. Analysts anticipate U.S. crude oil inventories declined 2.9 million barrels in the past week.

    Technicals

    EURUSD

    EURUSD rebounded higher following correction that came after the currency pair reached the highest level since May 01st. The market fell into the overbought zone, as indicated by the RSI index which is at as high as 71.79. However, the pair is expected to trade higher as the ADX index is pointing upwards, signaling further advances.

    Trade suggestion

    Buy Stop at 1.18300, Take profit at 1.19000, Stop loss at 1.18000

    GBPUSD

    GBPUSD is tracing a sharp uptrend after having surpassed a resistance at 1.31500. With upward support from two MAs that are lingering below the price action. Both ADX and RSI are on a rise, which indicates a strengthening bullish momentum in the market. The pair is anticipated to edge higher.

    Trade suggestion

    Buy Stop at 1.32300, Take profit at 1.32800, Stop loss at 1.32100

    GBPCHF

    GBPCHF has been struggling around the level at 1.27600 after having surged to the highest level since mid-May 2017. The pair is anticipated to attempt a significant resistance at 38.2% Fibonacci retracement. Both RSI and ADX are surging, confirming the uptrend.

    Trade suggestion

    Buy Stop at 1.27900, Take profit at 1.28600, Stop loss at 1.27600

    BRENT

    Brent crude futures prices retested a firm resistance at 52.600 again and are moving sideways above this significant level. The commodity price is expected to trade higher as the Brent crude market has been dominated by the sellers, as indicated by the RSI index which is at as high as 70.87.

    Trade suggestion

    Buy Stop at 52.900, Take profit at 53.700, Stop loss at 52.500

    ******************************************************

    U.K. Shares Extend Gain, Bolstered by Impressive Earnings Results

    U.K. shares jumped higher on Tuesday, extending their gains after closing July higher. The overall performance was supported by upbeat earnings reports from the oil major and the engine manufacturer such as BP PLC and Rolls-Royce Holdings PLC.

    The FTSE 100 index soared more than 0.7 percent on Tuesday to trade at 7430.00 after having a July rise of 0.8%. Direct Line Insurance Group PLC led gains with shares sharply surging more than 7%. Shares of the motor insurance provider were boosted higher after the company posted a rise in first-half net profit to £275.5 million ($363.7 million) and raised its interim dividend.

    Shares of BP PLC were among market leaders as the oil producer announced that it returned to profit in the second quarter of $553 million. While shares of BP PLC added nearly 3 percent, those of Rolls-Royce Holdings PLC took off nearly 10% after the aircraft engine maker reported a first-half net profit of £1.6 billion ($2.1 billion).

    Trade suggestion

    Buy Stop at 7430.00, Take profit at 7470.00, Stop loss at 7415.00

    **********************************************************

    AUD/USD
    From GMT 10:00 01/08/2017
    Till GMT 21:00 01/08/2017

    Sell at 0.79800
    Take profit at 0.79400
    Stop loss at 0.80000

    *********************************************************

    CAD/JPY
    From GMT 16:40 01/08/2017
    Till GMT 21:00 01/08/2017

    Sell at 87.900
    Take profit at 87.400
    Stop loss at 88.100

  • #38991

    Daily Report on July 31, 2017

    Asian shares reversed losses on Monday, turning positive following a lackluster start as supported by solid Chinese data. MSCI’s broadest index of Asia-Pacific shares outside Japan rebounded higher from early downticks to rise 0.1 percent. Meanwhile, a firm Japanese Yen outweighed earnings that beat expectations from companies such as Hitachi Ltd. and TDK Corp., sending Japanese stocks lower.

    The yen jumped more than 0.2 percent to trade at as high as 110.300 per dollar – the highest level since June 15, 2017 – in early trade. Japan’s Topix index swung between gains and losses while Japan’s Nikkei fell 0.1 percent. South Korea’s Kospi index also traded in negative zone, losing 0.3 percent on the back of turmoil in the region. The US flew two supersonic B-1B bombers over the Korean peninsula in a show of force on Sunday after North Korea test-fired an intercontinental ballistic missile last Friday.

    By contrast, Australia’s S&P/ASX 200 Index rose 0.3 percent. Chinese equities also edged higher. Hong Kong’s Hang Seng index and Shanghai Composite index rose 0.6 percent and 0.2 percent, respectively. Published by the China Federation of Logistics and Purchasing on Monday, Chinese manufacturing PMI index slipped to 51.4 in July while services PMI index inched lower to 54.5 from 54.9 in June. However, both indices remained above the 50-point mark that separates growth from contraction on a monthly basis.

    Crude oil prices extended their rally to a sixth trading session in a row, bolstered by a tightening U.S. crude market. According to data released by the U.S. Energy Information Administration last Wednesday, domestic oil production witnessed a modest fall of 19,000 barrels a day to 9.41 million barrels a day. Drilling for new U.S. production was also reported to decelerate, with just 10 rigs added in July, the fewest since May 2016.

    Technicals

    EURAUD

    EURAUD resumed its downtrend following a consolidation around 1.47100. The price action, which has been supported by the short-term MA20, has dropped below this dynamic, confirming the downtrend. The RSI is edging lower, the pair is expected to test a support at 1.46600.

    Trade suggestion

    Sell Stop at 1.47000, Take profit at 1.46600, Stop loss at 1.47200

    NZDJPY

    NZDJPY is facing a firm dynamic support at long-term MA50 after having gapped down in early trade. The market has fallen into the bearish zone, as indicated by the RSI index that has declined to as low as 44.43. The pair is likely to breach below the MA50 and may test a support at 82.300.

    Trade suggestion

    Sell Stop at 82.800, Take profit at 82.300, Stop loss at 83.000

    WTI

    U.S. West Texas Intermediate (WTI) crude futures have been tracing a steady uptrend after having broken out of a period of moving sideways near a significant level at 23.6% Fibonacci retracement. The commodity is struggling at a firm resistance at 49.800 as the market has jumped into the overbought zone. However, with ADX index is soaring which indicates a strong bullish force in the market, the price is expected to edge higher.

    Trade suggestion

    Buy Stop at 49.900, Take profit at 50.800, Stop loss at 49.500

    Natural gas

    Natural gas’s futures prices gapped down sharply on Monday, sending the price action not only well below the short-term MA20 but also to a firm support at 2.8800 – the level it has failed to breach since July 10th. With RSI pointing lower and a rising ADX index, natural gas is anticipated to trade lower to test another strong support at 23.6% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 2.8750, Take profit at 2.8400, Stop loss at 2.9000

    *************************************************

    U.S. Natural Gas Futures Tumble to Nearly Five-month Lows on Demand Concerns

    U.S. natural gas futures dropped steeply on Monday, falling to the lowest level in almost five months as updated weather forecasts signaled lower demand for the fuel.

    U.S. natural gas for September delivery tumbled by nearly 4 percent to trade at $2.819 per million British thermal units in North American trading session. The price plunged to the lowest since early March 2017.

    According to market source, meteorologists forecast temperatures during the month of August to be near normal after a warmer-than-average June and July near-normal temperatures, which would turn down cooling demand over the next two weeks. Nearly 50% of all U.S. households use gas for cooling.

    Analysts expect this week’s storage data scheduled to be published on Thursday will point to a build in a range between 17 and 27 billion cubic feet in the week ended July 28.

    Trade suggestion

    Sell Stop at 2.8160, Take profit at 2.7800, Stop loss at 2.8340

    *********************************************************

    USD/CHF
    From GMT 09:00 31/07/2017
    Till GMT 21:00 31/07/2017
    Buy 0.97000
    Buy at 0.97000
    Take profit at 0.97500
    Stop loss at 0.96800

    *********************************************************

    EUR/NZD
    From GMT 14:00 31/07/2017
    Till GMT 21:00 31/07/2017
    Buy 1.57200
    Buy at 1.57200
    Take profit at 1.57800
    Stop loss at 1.56900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38925

    Daily Report on July 27, 2017

    Asian shares climbed to the highest level in nearly a decade on Thursday after U.S. indexes closed at all-time record highs in the previous session. Also supported by optimism about corporate earnings, the MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.5 percent to heights not seen since December 2007 after the Dow Jones Industrial Average rose above 21,700 for the first time on Wednesday.

    A firmer Yen kept Japan’s Nikkei flat. Meanwhile, both Japan’s Topix index and Australia’s S&P/ASX 200 Index added 0.3 percent. Upbeat earnings results rolled in with data from Samsung Electronics Co. and Nintendo Co. beating analysts’ estimates. In Hong Kong, the Hang Seng Index edged 0.2 percent higher, while the Shanghai Composite Index dropped 0.4 percent.

    The U.S. dollar tumbled after the Federal Reserve left U.S. interest rates unchanged as widely expected but said that inflation remained persistently below its target. The dollar index, which measures the strength of the greenback versus a basket of six other major currencies, tumbled to a 13-month trough at 93.370. The central bank noted in its statement released late Wednesday that both overall and core inflation had declined. The Fed indicated that it would start winding down its massive holdings of bonds “relatively soon”.

    Crude oil prices retreated on Thursday following a three-day advance but lingered near 8-week highs on hopes that a steeper-than-expected decline in U.S. crude oil inventories will help ease concerns over a global oversupply. According to data released by the Energy Information Administration on Wednesday, U.S. crude stocks fell sharply by 7.2 million barrel last week. Thanks to the fact that refineries increased output and imports declined, last week’s decline in crude inventories was well above the 2.6 million barrel forecast.

    Technicals

    EURAUD

    EURAUD rebounded lower from a resistance at 1.47600 and has brought its price action below both the short-term and long-term MAs. The price action has also breached a significant support at 38.2% Fibonacci level. The pair is expected to trade lower with the RSI index pointing lower which indicates a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 1.45900, Take profit at 1.45400, Stop loss at 1.46100

    GBPUSD

    GBPUSD has breached a strong resistance at 1.31100 –the level it had to give up its bullish momentum in the first half of last week. The RSI index has jumped into the overbought territory while the ADX index continues to surge higher, indicating a strengthening bullish momentum in the market. A resistance at 1.32000 is within the sight.

    Trade suggestion

    Buy Stop at 1.31500, Take profit at 1.32000, Stop loss at 1.31300

    GOLD

    Gold has successfully broken out of a strong resistance at 23.6% Fibonacci retracement – a level that had forced the precious metal to trade sideways earlier this week. Gold price has been supported by two MAs that are lingering below the price action and is expected to trade higher to test another firm resistance at 1270.00.

    Trade suggestion

    Buy Stop at 1264.00, Take profit at 1270.00, Stop loss at 1261.00

    WTI

    U.S. crude oil prices have fallen into a period of moving sideways around the 23.6% Fibonacci level after surging to the highest level since June 01st on Wednesday. The commodity price looks set to edge higher with a market dominated by bullish momentum. ADX index is also on a rise, signaling upcoming advances.

    Trade suggestion

    Buy Stop at 48.700, Take profit at 49.500, Stop loss at 48.300

    ************************************

    Impressive Q2 Earnings Report Boosts Facebook Shares More Than 3% Higher

    Shares of Facebook Inc. jumped more than 3 percent in Wednesday’s after-hours session after the tech giant published its second-quarter earnings results that beat Wall Street expectations.

    Facebook shares added 3.32 percent to trade around $171.10 per share after the social networking service based in Menlo Park, California reported net income of $3.89 billion, or $1.32 per share. The readings did not only top earnings of $2.28 billion, or 78 cents per share, in the year-earlier period but also beat consensus calling for earnings per share of $1.12.

    Total revenue was reported to reach $9.3 billion, up from $6.4 billion in the year-earlier period and well above forecast for a rise to $9.2 billion. Facebook said the number of daily active users jumped 17% year-over-year to reach 1.32 billion, in line with forecast. Monthly active users also grew at rate of 17% on a yearly basis, to 2.01 billion.

    Trade suggestion

    Buy Stop at 171.20, Take profit at 173.00, Stop loss at 170.00

    ************************************************

    Procter & Gamble Shares Advance as Fiscal Q4 Earnings Results Beat

    Shares of Procter & Gamble Co. gained nearly 1 percent on Thursday after the consumer goods corporation reported fiscal fourth-quarter earnings results that were above Wall Street expectations.

    Procter & Gamble shares added 0.72 percent to trade at $89.945 as the Cincinnati, Ohio-based company posted net income for the quarter of $2.22 billion, or 82 cents per share, up from $1.95 billion, or 69 cents per share during the year earlier period. Adjusted for one-time items, earnings per share came in at 85 cents, well above analysts’ expectation for earnings of 78 cents.

    Procter & Gamble reported revenue of $16.08 billion for the three-month period ending in June, down slightly compared with the $16. 10 billion in revenue recorded during the same quarter a year ago. However, the decline had been expected. Economists forecast revenue to decline to $16.02 billion during the quarter.

    The company said that it forecast earnings to grow 5% to 7% in 2018.

    Trade suggestion

    Buy Stop at 90.00, Take profit at 92.00, Stop loss at 89.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38887

    Daily Report on July 26, 2017

    Supported by upbeat sentiment coming after U.S. equities hit records on Wall Street on Tuesday, Asian shares advanced on Wednesday with MSCI’s broadest index of Asia-Pacific shares outside Japan edging 0.1 percent higher. The S&P 500 added 0.3 percent to climb to an all-time high overnight, boosted higher by better-than-expected earnings results from McDonald’s and Caterpillar. The Dow Jones Industrial Average finished short of its record from July 19.

    Japanese shares also jumped higher. In late-morning trades, the benchmark Nikkei 225 Index soared 0.67 percent to 20,089.64 after hitting a high of 20,116.00 earlier. Markets are awaiting the Federal Reserve’s policy decision later in the day for fresh clues on the central bank’s tightening plans. The Fed is widely expected to keep interest rates unchanged.

    According to data released by the Australian Bureau of Statistics on Wednesday, the country’s consumer prices unexpectedly advanced at a slower pace in the second quarter. Australia’s inflation gauges inched only 0.2 percent higher in the three-month period to June, missing forecast for a rise of 0.4 percent as lower oil prices dragged down the headline measure. On a yearly basis, CPI gained 1.9%, well below both forecast and RBA’s target of between 2-3% on average.

    Crude oil price extended their upbeat moves on Wednesday, holding gains near eight-week highs hit in the previous session. As stated by the industry group the American Petroleum Institute, U.S. crude inventories fell by 10.2 million barrels in the week ending July 21 to 487 million. Analysts had expected a decrease of 2.6 million barrels. Official data will be published by the Energy Information Administration later in the day.


    Technicals

    AUDCAD

    AUDCAD has broken below the 61.8 Fibonacci retracement, under pressure from two MAs that are hanging above the price action. The short-term MA20 has crossed over the long-term MA50, confirming the downtrend. The currency pair is forecast to trade lower to test a support at 0.98250 as RSI index is pointing to the oversold zone.

    Trade suggestion

    Sell Stop at 0.98800, Take profit at 0.98250, Stop loss at 0.99000

    WTI

    WTI crude prices surged strongly to hit the 23.6% Fibonacci level – the highest in nearly two months. The commodity is struggling at the significant level as the market has jumped into the overbought territory. However, with the ADX index that is still on a rise, the crude oil price is expected to trade higher to test a resistance at 49.400.

    Trade suggestion

    Buy Stop at 48.400, Take profit at 49.400, Stop loss at 48.000

    SILVER

    Silver has been tracing a downtrend since it failed to sustain its bullish momentum above the 61.8% Fibonacci retracement. The precious metal had been supported by a couple of MAs before breaching below these two dynamic supports. RSI index has fallen below 50, confirming the downtrend. Further declines are expected as ADX index is on a rise with widening gap between –DI and +DI lines.

    Trade suggestion

    Sell Stop at 16.360, Take profit at 16.230, Stop loss at 16.420

    COPPER

    Copper prices have been on a steep uptrend which has brought the market into the overbought zone, as indicated by the RSI index which is at as high as 83.74. The metal resumed its strong advances following a short consolidation at around 2.8400. The price surpassed a more-than-two-year high at 2.8200 and is anticipated to trade higher to attempt a resistance at 2.9300.

    Trade suggestion

    Buy Stop at 2.8900, Take profit at 2.9300, Stop loss at 2.8700

    ************************************

    U.K. Shares Jump After Upbeat Earnings Reports, GDP In Line With Expectations

    U.K. shares surged on Wednesday, supported by gains in companies that reaffirmed their rosy outlook and a weak British Pound that turned lower versus the greenback for the second day in a row.

    The FTSE 100 index jumped more than 0.6 percent to trade around 7480.00. Shares of ITV and Compass Group PLC topped the market, soaring at least 2.6 percent after the releases of their earnings results. While the maker of “Downton Abbey” raised its dividend, the catering services company posted a rise in third-quarter revenue. Both companies backed their full-year expectations.

    The overall performance was also supported by gains for energy and mining stocks. Crude oil held on gains after taking off on Tuesday, spurring gains in shares of Royal Dutch Shell PLC and BP., which gained more than 0.5% each.

    With copper price jumping to the highest level since mid-May 2015, shares of Fresnillo climbed more than 0.7 percent, also boosted by its 2017 production guidance which showed higher silver and gold output for the second quarter. Shares of BHP PLC also traded higher, adding more than 0.8 percent.

    The Office for National Statistics on Wednesday reported that Britain’s economy grew in line with expectations in the second quarter. Britain GDP was reported to rise 0.3% in the three months to June following a 0.2% growth in the first three months of the year. On a yearly basis, the economy expanded by 1.7% from 2.0% in the first quarter, in line with forecasts.

    Trade suggestion

    Buy Stop at 7480.00, Take profit at 7500.00, Stop loss at 7470.00

    *********************************

    AT&T Shares Advance As Earnings Above Wall Street Forecasts

    Shares of AT&T reversed higher in after-hours trading on Tuesday after closing the regular session down less than 0.1 percent as the telecommunications conglomerate reported Q2 earnings above Wall Street expectations.

    AT&T shares jumped more than 2.7 percent to trade at $37.21 per shares after the telecommunications company said it earned $3.9 billion, or 63 cents a share, in the second quarter. That was well above the same quarter last year’s reading of $3.4 billion, or 55 cents a share.

    Adjusted for one-time items, AT&T posted earnings of 79 cents a share, marking an advance compared with 72 cents a share recorded a year ago. Meanwhile, sales were reported to inch lower to $39.8 billion, from $40.5 billion in the year-ago quarter. However, the decline, which was due to weak performance in legacy wireline services and consumer mobility, was line in with forecast.

    Trade suggestion

    Buy Stop at 37.25, Take profit at 37.80, Stop loss at 37.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38826

    Daily Report on July 25, 2017

    European shares advanced while Asian stock markets were mixed on Tuesday. The MSCI Asia Pacific Index fluctuated near a 10-year high and Japan’s Topix index lost 0.3 percent. The Hang Seng Index was also little changed while the Shanghai Composite Index shed 0.2 percent. South Korea’s Kospi index also traded in negative zone, retreating 0.5 percent. By contrast, Australia’s S&P/ASX 200 Index added 0.7 percent.

    Following three days of declines which dragged the index 1.6 percent lower, the Stoxx Europe 600 Index climbed 0.4 percent. The index was bolstered by gains in mining firms and banks. Germany’s DAX 30 index added 0.1 percent, and the FTSE 100 index advanced 0.5 percent. Europe’s tech sector also contributed to the uptrend after iPhone supplier AMS and computer peripherals and mobile speaker maker Logitech raised their mid-term revenue target.

    According to data released by the Munich-based Ifo institute, German business confidence improved to an all-time high in July. The business climate index jumped to 116.0 this month, breaking the previous month’s record at 115.2. Economists had expected the index to hit a reading of 114.9 in July.

    Crude oil prices edged higher on Tuesday after Saudi Arabia promised to cap shipments next month to help ease a global glut. WTI crude gained 0.6 percent to $46.60 per barrel while Brent for September settlement climbed as much as 0.7 percent, to $48.96 a barrel on the London-based ICE Futures Europe exchange. During a speech at St. Petersburg, Russia on Monday, Energy and Industry Minister Khalid Al-Falih said that Saudi Arabia said it would trim shipments to 6.6 million barrels a day in August, 1 million lower than a year earlier.

    Technicals

    GBPNZD

    GBPNZD rebounded higher after having been struggling around a level at 1.75300. The price action jumped above the short-term MA20 and looks set to attempt a resistance at 61.8% Fibonacci level. Further advances are expected with two indices on a rise.

    Trade suggestion

    Buy Stop at 1.75600, Take profit at 1.76400, Stop loss at 1.75200

    COPPER

    After having broken above a firm resistance at 2.7360 which had restrained the commodity from surging higher for nearly one week ending Tuesday, copper has been tracing a sharp uptrend which sent the market into the overbought zone. RSI and ADX indices keep soaring, indicating a strong uptrend in the market. A resistance at 0.0% Fibonacci level is within the sight.

    Trade suggestion

    Buy Stop at 2.7950, Take profit at 2.8200, Stop loss at 2.7880

    WTI

    U.S. crude oil extended its up moves to a second trading session after having rebounded from as low as 45.500. The price action has crossed over both the short-term MA20 and the long-term MA50, confirming the uptrend. The RSI index has soared above 50 level while the ADX is on a rise with a widening gap between +DI and –DI lines, suggesting further advances.

    Trade suggestion

    Buy Stop at 46.800, Take profit at 47.700, Stop loss at 46.400

    FTSE 100

    U.K.’s FTSE 100 index rebounded from a support at 7370.00 and is struggling at a dynamic resistance at the short-term MA20 after penetrating the long-term MA50 from below. The stock benchmark index is expected to head higher as the market has entered the bullish zone, as indicated by the RSI index. The ADX index also confirm the uptrend as the +DI line has converged with the –DI line from below.

    Trade suggestion

    Buy Stop at 7430.00, Take profit at 7500.00, Stop loss at 7400.00

    *********************************************

    Alphabet Shares Lose Gound due to Weak Performances of Google’s Key Metrics

    Shares of Alphabet Inc. dropped nearly 3 percent on Monday in trading shortly after the parent company of Google released its second-quarter earnings report.

    Alphabet’s shares lost as much as 2.94 percent to trade at $969.00 per share in after-hours trading after the company posted a plunge of 28 percent in GAAP profit due to a $2.74 billion fine that European antitrust regulators slapped on its Google unit.

    On a GAAP basis, the company reported net income of $3.5 billion, or $5.01 per share, up from $4.9 billion, or $7 per share recorded in the same period last year. This was well above analysts’ expectations calling for earnings per share of $4.44. Revenue was reported to reach $26 billion in the three-month period ended June, up from $21.5 billion in the year-earlier period and beating forecast for total revenue of $25.6 billion

    Besides the fine levied by the European Commission, Alphabet’s shares were dragged lower due to worse-than-expected performances of two key metrics: cost per click (CPC) and traffic acquisition costs (TAC).

    Indeed, Google’s CPC – the amount advertisers are paying each time a user clicks on an ad served by Google- fell 23% in the quarter, compared with a drop of 7% in the same period a year ago. The decline in CPC was much higher than the 15% analysts expected as more search traffic came from mobile devices.

    Meanwhile, Google’s TAC – the fees it pays to partner websites that run Google ads or services – increased to $5.09 billion, higher than analyst estimates of $4.75 billion and equivalent to 22% of advertising revenue.

    Trade suggestion

    Sell Stop at 969.00, Take profit at 960.00, Stop loss at 974.00

    ********************************************

    Shares of McDonald’s Rise Following Upbeat Q2 Earnings Results

    Shares of McDonald’s Corp. jumped nearly 3 percent in premarket trading on Tuesday after the fast-food giant released its second-quarter earnings report that showed results beat forecast.

    McDonald’s shares added 2.55% to trade at $155.74 per share after the Illinois-based company reported a better-than-expected increase in quarterly sales at established U.S. restaurants.

    The fast food restaurant chain posted net income of $1.40 billion, or $1.70 per share, up from $1.09 billion, or $1.25 per share, for the same period last year. Revenue for the quarter was reported to reach $6.05 billion, down from $6.27 billion last year. However, both figures topped market’s expectations.

    Global same-store sales rose 6.6%, the biggest increase in more than 5 years. Meanwhile, U.S. same-store sales (sales at U.S. restaurants open at least 13 months) rose 3.9%, beating forecast calling for a rise of 2.9%, according to FactSet.

    Trade suggestion

    Buy Stop at 156.00, Take profit at 160.00, Stop loss at 154.00

    *************************************

    USD/JPY
    From GMT 08:00 25/07/2017
    Till GMT 21:00 25/07/2017

    Buy at 111.300
    Take profit at 111.800
    Stop loss at 111.100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38727

    Daily Report on July 21, 2017

    Asian shares pared their weekly gain on Friday with the MSCI’s broadest index of Asia-Pacific shares outside Japan, which has gained about 5 percent in the past two weeks, retreating 0.2 percent in the last session of the week. Japanese shares also traded lower as the Yen gained ground versus a weak dollar. The Nikkei 225 slid 0.17 percent while the Topix index lost 0.3 percent

    The South Korea’s Kospi index fluctuated, reversing earlier losses to gain 0.21 percent while other markets subdued. Hong Kong’s Hang Seng Index declined 0.15 percent and the Shanghai Composite was off 0.21 percent. Australia’s S&P/ASX 200 Index even declined 0.5 percent. Only Shenzhen Composite gained 0.022 percent to trade just above the flat line.

    The Australian dollar stumbled following a speech by Reserve Bank of Australia Deputy Governor Guy Debelle on Friday. The RBA Governor said that the central bank would not raise interest rates just because other central banks were doing so. The comments sent the Aussie 1 percent lower compared to a high of $0.7959 seen earlier in the session.

    By contrast, the euro jumped to nearly two-year highs on Thursday on the back of comments from the chief of the European Central Bank. The ECB decided to hold its interest rates and asset purchases steady on Thursday. Mario Draghi, the head of the European Central Bank, said at a conference later in the day that tapering of the bank’s quantitative easing (QE) program will be on the table this autumn.

    Technicals

    USDCHF

    USDCHF has been moving sideways after having fallen to as low as 0.95000 on Thursday. The pair has been under pressure from two MAs that are moving above the price action which may depress the price lower. RSI is at low level at 32.23, suggesting a dominating bullish force in the market. A support at 0.94600 is within the sight.

    Trade suggestion

    Sell Stop at 0.95000, Take profit at 0.94600, Stop loss at 0.95200

    EURUSD

    EURUSD rebounded from a period of consolidation in early trade. The Euro jumped to the highest level since August 21st, 2015, sending the market in the overbought zone. After the correction, the pair is expected to extend its uptrend to test a significant resistance at 1.17000 with support from two MAs lingering below the price action.

    Trade suggestion

    Buy Stop at 1.16500, Take profit at 1.17000, Stop loss at 1.16300

    NZDUSD

    NZDUSD broke out of a strong resistance at 0.73660 where the price had been retrained for one week. The pair jumped to the level has not been seen August 08, 2016 and is looking set to edge higher to the 100% Fibonacci retracement. While the RSI index is soaring, ADX index is witnessing a widening gap between +DI and –DI lines.

    Trade suggestion

    Buy Stop at 0.74300, Take profit at 0.74800, Stop loss at 0.74100

    GOLD

    Gold jumped above the 1244.00 level where it had failed to surpass since Tuesday. The precious metal has been supported by the short-term MA20 and is likely to trade higher. As can be seen from the indicator charts, both RSI and ADX indices are tracing higher. A resistance at 1253.00 is anticipated to be tested.

    Trade suggestion

    Buy Stop at 1247.00, Take profit at 1253.00, Stop loss at 1244.00

    *******************************************

    OPEC Supplies Reported to Rise in July, Crude Oil Futures Turn Lower

    Crude oil futures prices reversed lower on Friday, looking set to set a loss on the week after a tanker-tracking firm reported supply from OPEC is rising.

    West Texas Intermediate crude futures prices for September delivery dropped more than 2 percent to trade around $45.82 per barrel in the last trading session of the week. According to data released by PetroLogistics, OPEC’s July oil supply might rise by 145,000 barrels per day (bpd) compared to June.

    With higher supply from Saudi Arabia, the United Arab Emirates (UAE) and Nigeria, the increase in crude oil may push production above 33 million barrels per day.

    The Baker Hughes is scheduled to release its weekly data on U.S. oil rigs later in the day, which is expected to provide fresh hints on the outlook for U.S. crude production.

    Trade suggestion

    Sell Stop at 45.80, Take profit at 45.20, Stop loss at 46.00

    *************************************************

    Shares of Microsoft Reverse Gains After Low Expectation Clouds Upbeat Earnings Results

    Shares of Microsoft Corp. rose as much as 4 percent in after-hours trading on Thursday after the technology company reported that it produced much better profit in its fiscal fourth quarter than expected. However, shares returned lower after Microsoft published guidance for the next quarter.

    Shares of Microsoft hit an all-time intra-day high of $74.30 on Thursday in regular trading ahead of earnings results before closing at an all-time high of $74.22 per share. Microsoft reported net income of $6.5 billion, or 83 cents a share, on sales of $23.3 billion.

    Adjusting for one-time items, the Redmond-based company claimed earnings of 98 cents a share on sales of $24.7 billion for the fourth quarter of its 2017 fiscal year, which ended on June 30. This was well above analysts’ expectations calling for earnings of 71 cents a share on sales of $24.3 billion.

    However, for the first quarter of its 2018 fiscal year, which ends on September 30, Microsoft only expects revenue of $23.95 billion, based on the midpoint of its guidance which is in the range from $23.6 to $24.3 billion. Markets, meanwhile, forecast the company to reach $24.18 billion in sales in the September quarter.

    Trade suggestion

    Sell Stop at 74.00, Take profit at 73.00, Stop loss at 74.50

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38698

    Daily Report on July 20th, 2017

    Asian shares advanced for a ninth straight session on Thursday, bolstered by fresh all-time highs for U.S. equities. While U.S. stocks surged to new records on strong U.S. corporate earnings after the close on Wednesday, the Bank of Japan on Thursday decided to maintain its mega monetary stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.15 percent, trading near its highest level since December 2007.

    The Bank of Japan kept its monetary policy steady as widely expected, maintaining the 0.1 percent interest it charges on a portion of excess reserves that financial institutions park at the central bank. The Japanese central bank also pushed back again the timing for achieving its 2 percent inflation target, as it cut price forecasts until fiscal year 2020. The yen retreated versus the dollar, lifting Japanese shares higher.

    Indeed, Japan’s Topix index rose 0.7 percent while the Nikkei 225 added 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea’s KOSPI index climbed 0.6 percent and 0.1 percent, respectively. Hong Kong’s the Hang Seng Index jumped 0.3 percent, while the Shanghai Composite Index was little changed.

    Crude oil prices struggled for direction on Thursday following a jump to a two-week peak on Wednesday. Oil prices jumped more than 1 percent in the previous session after the Energy Information Administration (EIA) reported a bigger-than-expected weekly draw in crude and gasoline inventories in the United States. According to the report, U.S. crude stocks fell 4.7 million barrels during the week ended July 14th, exceeding estimates for a 3.2 million draw forecast by economists.

    Technicals

    EURNZD

    EURNZD rebounded after falling under the 61.8% Fibonacci retracement. The pair crossed over this significant level again and is facing a pair of moving averages. While the +DI line has penetrated the –DI line from below, signaling a strengthening bullish momentum in the market, RSI index also surpassed the 50 line, suggesting further advances.

    Trade suggestion

    Buy Stop at 1.57000, Take profit at 1.58000, Stop loss at 1.56500

    WTI

    U.S. crude prices has been moving sideways around a two-week high at a significant level at 47.200 – the level at which the commodity had to reverse lower in early-July. With support from two MAs which are hanging below the price action, the benchmark crude price is expected to test a resistance at 48.000.

    Trade suggestion

    Buy Stop at 47.300, Take profit at 48.000, Stop loss at 47.000

    DAX 30

    Germany Dax 30 index has been tracing an uptrend since it rebounded from a low at 12380.00 logged on Tuesday. The price action has crossed over the long-term MA50 from below and is facing the short-term MA20. A breakout is expected as the bull is becoming stronger in the market. While RSI has inched higher the 50 line, ADX index is turning upward with a widening gap between +DI and –DI lines.

    Trade suggestion

    Buy Stop at 12530.00, Take profit at 12650.00, Stop loss at 12470.00

    FTSE 100 Index

    U.K. FTSE 100 Index gapped up on Thursday after sending its price action above a downtrend line which connected lower highs. The stock benchmark index escaped from the resistance with support from two MAs that are hanging below the price action. Both ADX and RSI are on a rise, signaling that the index may edge higher to test a resistance at 7480.00.

    Trade suggestion

    Buy Stop at 7445.00, Take profit at 7480.00, Stop loss at 7430.00

    *******************************************

    American Express Shares Inch Lower As Profit Declines

    Shares of American Express Company turned lower in after-hours trading on Wednesday after the credit-card company reported better-than-expected earnings and sales but profit declined in the second quarter.

    Shares of the company inched nearly 1.5 percent lower to US$84.65 per share in after-market trading. The card company posted second-quarter earnings of $1.3 billion, or $1.47 a share, up from $2 billion, or $2.10 a share, in the year-ago period. Analysts had expected per-share earnings of $1.43.

    However, American Express witnessed profit plunged by 33 percent in the three-month period ending June 30th. The decline came after the company ended its business relationship with Costco while its expenses rose sharply as the card company spent heavily on rewards to woo customers, not to mention expenses on tax treatment and restructuring charges.

    Trade suggestion

    Sell Stop at 84.60, Take profit at 84.00, Stop loss at 84.90

    *********************************************

    Q2 Earnings Fall to Reach Expectations, Shares of Philip Morris Lose 3 Percent

    Shares of Philip Morris International Inc. lost nearly 3.0 percent on Thursday after the cigarette and tobacco company reported second-quarter earnings below expectations.

    Shares of Philip Morris dropped 2.98 percent in pre-market trading after the New York-based company reported revenues of $19.32 billion. This was up from $19.04 billion a year ago but failed to hit analysts’ forecast for revenues of $20.07 billion. Cigarette shipment volumes were reported to decline by 7.5% in the second quarter.

    On a per-share basis, the company said it had profit of $1.14, down from $1.15 a year ago and missing expectation for earnings per share of$1.23. Philip Morris cut its 2017 EPS outlook to a range from $4.78 to $4.93 from a range from $4.84 to $4.99 previously forecast.

    Trade suggestion

    Sell Stop at 118.00, Take profit at 116.00, Stop loss at 119.00

    **************************************************

    EUR/CAD
    From GMT 10:00 20/07/2017
    Till GMT 21:00 20/07/2017

    Sell at 1.44850
    Take profit at 1.44350
    Stop loss at 1.45100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38658

    Daily Report on July 19, 2017

    Asian share were mostly higher on Wednesday while European stock markets gained ground as the euro retreated. Asian equities were supported by investors’ optimism about China’s ongoing economic transition with Chinese shares leading in Asia. Shanghai Composite Index jumped 1.4 percent and Hong Kong’s Hang Seng Index edged 0.6 percent higher.

    Japan’s Topix Index swung between gains and losses, closing marginally higher on Wednesday ahead of the Bank of Japan’s monetary policy decision which is due on Thursday. The Nikkei225 added 0.1 percent. Australia’s S&P/ASX 200 Index rose 0.8 percent as bank shares climbed.

    The Stoxx Europe 600 gained 0.4 percent following a decline of 1.1 percent in the previous session thanks to a weak euro that inched lower ahead of the European Central Bank’s policy statements due Thursday.

    According to data released by the Commerce Department on Wednesday, the U.S. housing starts jumped 8.3 percent in June to a seasonally adjusted annual rate of 1.22 million units. On a yearly basis, housing starts advanced by 2.1 percent last month compared to one year ago.

    Technicals

    GBPAUD

    GBPAUD retested a support at 1.64000 – the three-and-a-half-month low recorded yesterday. The pair fell into a correction but soon reversed lower as the market has been dominated by seller. RSI index has even fallen into the oversold zone. The pair is expected to test a support at 1.63400.

    Trade suggestion

    Sell Stop at 1.64000, Take profit at 1.63400, Stop loss at 1.64300.

    SILVER

    Silver futures prices have been tracing an uptrend with the support from two MAs that are lingering below the price action. The precious metal’s price surpassed a resistance at 16.200 and is heading towards a significant level at 61.8% Fibonacci level. The RSI index which is pointing upwards signals further advances.

    Trade suggestion

    Buy Stop at 16.330, Take profit at 16.500, Stop loss at 16.250

    BRENT

    As can be seen from the chart, Brent crude prices have been supported from two MAs that are lingering below the price action, especially the short-term MA20. RSI has been on rise, suggesting a strengthening bullish force in the market. A breakout from a resistance at 49.150 is expected.

    Trade suggestion

    Buy Stop at 49.150, Take profit at 49.850, Stop loss at 48.800

    Dow Jones

    U.S. Dow Jones index has been moving sideways above a firm support at 21540.00 after falling to as low as 21461.00. RSI index is moving around the 50 level but the stock index looked set to trade higher with support from the long-term MA50. The all-time record high logged on July 14th is expected to be tested.

    Trade suggestion

    Buy Stop at 21580.00, Take profit at 21660.00, Stop loss at 21540.00

    ***********************************************

    Morgan Stanley Shares Advance After Upbeat Q2 Earnings Report

    Shares of Morgan Stanley jumped more than 2 percent in per-market trading on Wednesday after the U.S. bank reported second-quarter earnings results that beat expectations. The company was the last of the five biggest U.S. banks to report results for the three-month period ending June.

    Morgan Stanley posted reported net revenues of $9.5 billion in the June quarter, up from $8.9 billion recorded one year ago and topping analysts’ forecast for $9.1 billion of revenue. Earnings per share hit 87 cents, compared with 75 cents per share in the year-ago quarter. That beat estimate of 76 cents per share.

    Although sales and trading declined to $3.2 billion from $3.3 billion in the same quarter in 2016, revenues from institutional securities, wealth management, and investment management were all higher than a year ago.

    Trade suggestion

    Buy Stop at 46.30, Take profit at 47.00, Stop loss at 46.00

    ****************************************

    Shares of CSX Reverse Gains As FY 2017 Guidance Falls Short of Expectations

    Shares of CSX Corp. lost more than 4.0 percent in the extended session on Tuesday although the railroad operator reported quarterly results above expectations as well as expanded its share buyback program.

    CSX shares reversed gains, shedding 4.17% to trade at $52.36 after having soared 3.1% to $56.32 after hours. The company reported adjusted second-quarter earnings of 64 cents a share on revenue of $2.93 billion, which was higher than analysts’ forecast for earnings of 59 cents a share on revenue of $2.85 billion. CSX also announced that its share repurchase authorization had been added another $500 million to $1.5 billion in total.

    However, CSX’s guidance for the full year fell short of analyst expectations. The company expects earnings growth for the fiscal year 2017 of around 25% from 2016, which is below analysts’ expectation for full-year EPS of $2.31, 28% above the $1.81 the railroad reported for 2016.

    Trade suggestion

    Sell Stop at 52.30, Take profit at 51.90, Stop loss at 52.50

    *************************************************

    EUR/AUD

    From GMT 09:00 19/07/2017
    Till GMT 21:00 19/07/2017

    Sell at 1.45500
    Take profit at 1.44700
    Stop loss at 1.45900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38617


    Daily Report on July 18, 2017

    European shares dropped on Tuesday, dragged down by a strengthening euro that soared steeply to a 14-month high against the U.S. dollar while disappointing corporate earnings reports weighed on shares of Ericsson and Lufthansa. The Stoxx Europe 600 shed 0.4 percent with only the health care sector trading higher. In Frankfurt, DAX 30 index lost 0.51%, while France’s CAC 40 index was down nearly 0.3%.

    Shares of Ericsson tumbled nearly 11 percent on Tuesday after the Stockholm-based company reported a bigger-than-expected net loss of 1.01 billion Swedish kronor ($122.3 million) in the second quarter. The Swedish telecom-equipment maker also warned that earnings could weaken further as the market continues to struggle.

    According to the Office for National Statistics, the UK’s inflation rate unexpectedly slowed to 2.6 percent in June after having hit a near four-year high at 2.9 percent in May, a near four-year high. The pound reversed gains versus the dollar in response to the figures as markets were expecting that a further increase in the inflation rate might raise the possibility of the BOE’s policy makers raising the benchmark interest rate from a record low of 0.25%.

    The Aussie surged as much as 1.3 percent against the greenback to jump above 79 U.S. cents – its highest level since May 2015.The Reserve Bank of Australia published the minutes of its July policy meeting on Tuesday which showed the central bank were more optimistic about the jobs market and economy growth of Australia. According to the minutes, the RBA expected quarterly growth to have increased in the second quarter while said that the stronger labor market removes “some of the downside risk” to its wage-growth forecasts.

    Technicals

    EURUSD

    EURUSD has been tracing an uptrend which sent the pair to 14-month highs on Tuesday. The pair breached a resistance at 1.14900 and is heading towards the highest level since May 02, 2016. Both RSI and ADX indices are heading higher, which indicates a strengthening bullish momentum in the market.

    Trade suggestion

    Buy Stop at 1.15600, Take profit at 1.16000, Stop loss at 1.15400

    EURGBP

    EURGBP rebounded from a firm support at 0.87450 and has been soaring steeply since then. The pair did not only breach both short-term and long-term MAs but also surpassed a strong resistance at 0.88600. While RSI is rising, ADX index is pointing higher with a widening gap between +DI and –DI lines. The currency pair is expected to retest another firm resistance at 0.89400.

    Trade suggestion

    Buy Stop at 0.88800, Take profit at 0.89400, Stop loss at 0.88500

    BRENT

    As can be seen from the price chart, BRENT crude has been supported by two MAs that are lingering below the price action. The commodity price rebounded after hitting the short-term MA20. The commodity price may test a significant level at 50.000 with the market dominated by buyers, as indicate by RSI and ADX indices.

    Trade suggestion

    Buy Stop at 49.300, Take profit at 50.000, Stop loss at 49.000

    DAX 30

    Germany’s DAX 30 index gapped down on Tuesday, opening below the short-term MA20. The stock benchmark index extended its downtrend and brought its price action below the long-term MA50 as well. While RSI index is pointing lower, ADX index is on a rise, suggesting further down moves. A support at 12350.00 is within the sight.

    Trade suggestion

    Sell Stop at 12430.00, Take profit at 12350.00, Stop loss at 12470.00

    ***********************************

    Netflix Passes the 100 Million Subscriber Milestone, Shares Jump More than 10%

    Shares of Netflix Inc. took off by more than 10 percent in after-hours trading on Monday after the streaming giant reported better-than-expected subscriber growth in its second quarter.

    Netflix witnessed its shares jump nearly 10.7 percent to trade at $178.98 per share as the company reported adding a second-quarter record 5.2 million subscribers. Netflix reported net income of $65.60 million, or 15 cents per share for the three-month period to June. That was well above the net income of $40.76 million, or 9 cents per share recorded during the year-earlier period.

    Revenue for the quarter was reported to hit $2.79 billion, up from $2.11 billion during the same period a year ago. With 5.2 million subscribers added in the last three months (1.1 million domestic and 4.1 million international), Netflix passed the 100 million subscriber milestone. Analysts had forecast that Netflix would add only 631,000 subscribers in the U.S. and Canada and 2.6 million overseas.

    Trade suggestion

    Buy Stop at 179.00, Take profit at 182.00, Stop loss at 178.00

    ************************************************

    The Aussie Targets the Level 80 U.S. cents After RBA’s July Meeting’s Minutes

    Australian dollar extended gains versus its American counterpart after having surged steeply in Asian trading session on Tuesday. The Aussie was boosted higher following the release of the RBA’s latest meeting minutes.

    The Aussie surged as much as 1.3 percent against the greenback to jump above 79 U.S. cents – its highest level since May 2015. The pair AUDUSD looks set to build on its rally and may surge to 80 U.S. cents, the strongest level in more than two years.

    The Reserve Bank of Australia published the minutes of its July policy meeting on Tuesday which showed the central bank were more optimistic about the jobs market and economy growth of Australia. According to the minutes, the RBA expected quarterly growth to have increased in the second quarter while said that the stronger labor market removes “some of the downside risk” to its wage-growth forecasts.

    Trade suggestion

    Buy Stop at 0.79100, Take profit at 0.79500, Stop loss at 0.78900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38569

    Daily Report on July 17, 2017

    Asian shares surged strongly on Monday, setting a fresh two-year record high after the releases of better-than-expected data from China. Besides, stock markets were also boosted by bets that lackluster U.S. data will restrain the Federal Reserve from aggressively raising its interest rates. While Japanese markets were closed for a holiday, the MSCI Asia Pacific Index jumped 0.4 percent after a rise of 3.1percent last week.

    Australian shares reversed losses, adding 0.1 percent after having started the day in negative territory. . South Korea’s Kospi jumped 0.4 percent and Hong Kong’s Hang Seng Index climbed 0.6 percent. Boosted higher by upbeat economic data, the CSI 300 was 0.2 percent higher, after slumping as much as 2.2 percent earlier. The Shanghai Composite also narrowed earlier losses to 0.1 percent after plunging by as much as 2.6 percent earlier.

    According to the National Bureau of Statistics, China’s economy grew 6.9 percent in the second quarter compared to one year ago. Although remaining at the same year-on-year growth rate, China’s GDP picked up to 1.7 percent on a quarterly basis, from 1.3 percent in the first quarter. China’s retail sales were reported to rise 11.0 percent in June from a year earlier, the fastest pace since December 2015. The reading beat analysts’ expectations for a 10.6 percent rise.

    While industrial output rose 7.6 percent in June from a year earlier, the Fixed-asset investment climbed 8.6 percent in the first half of this year. Both data topped markets’ expectations.

    Crude oil prices inched higher on Monday with West Texas Intermediate crude advancing 0.2 percent to $46.64 a barrel, heading for a sixth day of gains. The energy services company Baker Hughes last Friday reported that U.S. drillers added two oil rigs in the week to July 14, which brings the total count up to 765, the most since April 2015.

    Technicals

    AUDNZD

    AUDNZD has been trading sideways after a sharp surge above the 38.2% Fibonacci retracement. The pair, however, is likely to edge higher to test a resistance at 50.0% Fibonacci level. While the RSI index has soared to as high as 72.89 and fell into the overbought zone, the ADX index continues to be on a rise which indicates a strong uptrend.

    Trade suggestion

    Buy Stop at 1.06600, Take profit at 1.07000, Stop loss at 1.06400

    EURGBP

    EURGBP has been struggling around the level 0.87500 after having fallen from as high as 0.89500. The short-term MA20 has converged with the long-term MA50, confirming the downtrend. The RSI is at 29.51, showing a dominating selling force in the market. A support at 23.6% Fibonacci retracement is in the sight.

    Trade suggestion

    Sell Stop at 0.87500, Take profit at 0.87000, Stop loss at 0.87700

    COPPER

    Copper retreated a little bit after having retested a three-month high at 2.7173. With the support from two MAs which are hanging below the price action, copper price is anticipated to reverse higher to test a resistance at 2.7150. Both ADX and RSI indices are hiking, confirming the signal for further upbeat moves.

    Trade suggestion

    Buy Stop at 2.7150, Take profit at 2.7450, Stop loss at 2.7000

    Natural Gas

    Natural Gas futures prices extended gains after surpassing a dynamic resistance at the short-term MA20. The commodity is heading towards a firm resistance at 38.2% Fibonacci retracement. While the RSI is pointing higher, ADX index is witnessing a widening gap between the +DI and –DI lines.

    Trade suggestion

    Buy Stop at 3.0050, Take profit at 3.0450, Stop loss at 2.0850

    ************************************************

    Shares of BlackRock Decline After Downbeat Q2 Earnings Report

    Shares of BlackRock Inc. tumbled more than 3 percent in premarket trade on Monday after the firm reported second quarter earnings and revenue that missed analysts’ expectations.

    BlackRock shares dropped 3.27% to trade around $424.00 per share on Monday following a gain of 0.11% after the close on Friday. The world’s largest asset manager posted second quarter earnings per share of $5.24 on revenue of $2.965 billion after excluding non-recurring items. That missed forecast for EPS of $5.39 on revenue of $3.02 billion.

    Net profit was reported to advance to $857 million, or $5.22 a share, from $789 million, or $4.73 a share, in the same period a year ago while the firm’s assets under management rose 16% on a yearly basis to $5.689 trillion, topping analyst expectations.

    Trade suggestion

    Sell Stop at 424.00, Take profit at 420.00, Stop loss at 426.00

    ***************************************

    AUD/USD

    From GMT 11:30 17/07/2017
    Till GMT 21:00 17/07/2017

    Buy at 0.78300
    Take profit at 0.78900
    Stop loss at 0.78000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38504

    Daily Report on July 14th, 2017

    Asian shares extended their upbeat moves on Friday, looking set to end the week on a high note after the Dow Jones Industrial Average reached a fresh all-time record high. U.S. stocks closed higher on Thursday thanks to dovish comments from Federal Reserve Chair Janet Yellen who reiterated her intention to tighten only gradually as inflation remains persistently below target.

    The MSCI Asia Pacific Index added 0.2 percent in the last trading session of the week, contributing to a weekly advance of 2.5 percent. Shares in Japan were also on a rise with the Nikkei 225 edging 0.2 percent while Japan’s Topix index jumping 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi rose 0.5 percent and 0.2 percent, respectively.

    By contrast, Hong Kong’s Hang Seng retreated 0.1 percent after its 3.9 percent surge on the week, the Shanghai Composite Index dropped 0.2 percent and the Shenzhen Composite Index dropped nearly 0.3 percent.

    Investors were waiting for major U.S. banks to start reporting quarterly results on Friday. Some of the fund’s top holdings namely JPMorgan Chase & Co, Citigroup Inc and Wells Fargo & Co are scheduled to report their second-quarter earnings results on Friday while others, including Goldman Sachs Group Inc, Morgan Stanley and Bank of America Corp are due to post results next week.

    Technicals

    AUDNZD

    AUDNZD has been trading sideways above a support at 1.05500 since July 12th. The pair, however, has been supported by two MAs which are lingering below the price action, especially the short-term MA20. Further advances are expected given the RSI index that is heading upwards which shows a strengthening upward trend.

    Trade suggestion

    Buy Stop at 1.05800, Take profit at 1.06300, Stop loss at 1.05600

    AUDCAD

    AUDCAD rebounded from as low as 0.98250 – the firm support that forced the pair to reverse higher one week ago. The short-term MA20 has crossed over long-term MA50 from below, which suggests a reversal into an uptrend. Both RSI and ADX index are pointing upwards, signaling further advances. A resistance at 61.8% Fibonacci retracement is within the trend.

    Trade suggestion

    Buy Stop at 0.98700, Take profit at 0.99100, Stop loss at 0.98500

    Natural Gas

    Natural has fallen into a consolidation after having hit a support at 2.9500. The commodity had to rebound higher after facing this level in early-July. However, RSI remained below 50, indicating a market dominated by sellers. In the event of continual downtrend, a support at 2.8800 is expected to be tested.

    Trade suggestion

    Sell Stop at 2.9500, Take profit at 2.8800, Stop loss at 2.9800

    DAX 30 Index

    Germany’s DAX 30 index has fallen into a period of correction following sharp moves on Wednesday. The price action surged above the long-term M50 and also surpassed a resistance at 12540.00. RSI index has been standing on the verge of falling into the overbought zone. With a strong bullish force the index is expected to edge higher to test another resistance at 12750.00.

    Trade suggestion

    Buy Stop at 12660.00, Take profit at 12750.00, Stop loss at 12620.00

    ******************************************

    Sterling Jumps Above 1.3000 After U.S. Data Fall Below Expectations

    The British Pound soared to nearly ten-month highs versus the dollar on Friday, supported by hawkish comments from a BOE official. Meanwhile, the greenback traded lower after a pair of data releases disappointed markets.

    The pair GBPUSD added more than 1.0 percent in the last session of the week to trade above $1.3000 for the first time since September 22nd, 2016. Sterling extended recent gains on the back of comments from Bank of England policy maker Ian McCafferty. The BOE policy maker claimed that the central bank should unwind its 435 billion pound quantitative easing program earlier than planned given strong jobs data and 42-year-low unemployment rate.

    By contrast, the dollar lost ground versus most of its peers, continuing to slide further after downbeat inflation and retail sales data. The U.S. Bureau of Labor Statistics on Friday reported that the consumer price index was unchanged in June. Analysts had expected for a rise of 0.1%. On a yearly basis, the rate of inflation slowed to 1.6% in June (the smallest gain since October 2016) from 1.9% in the prior month.

    Meanwhile, data on retail sales were reported to unexpectedly fall 0.2% last month following a decline of 0.3 percent in May.

    Trade suggestion

    Buy Stop at 1.30700, Take profit at 1.31200, Stop loss at 1.30500

    *******************************************

    U.S. Shares Edge HIgher but Financial Sector Caps Gains Following Earnings Results

    U.S. shares were mostly higher on Friday except for stocks of major banks which turned sharply lower after some of the nation’s biggest banks second-quarter earnings results.

    The stock benchmark S&P 500 index added more than 0.2 percent to trade at 2450.00 in the morning session on Friday with ten out of eleven sectors trading higher. Real estate and utilities shares led gains, advancing 0.99% and 0.63%, respectively.

    Financial shares capped the overall performance. The banking sector dropped more than 0.9 percent with equities of Morgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. C losing at least 1 percent. Although second-quarter results mostly beat Wall Street expectations, bank officials pointed to weakness in areas including trading of bonds and stocks.

    Trade suggestion

    Buy Stop at 2452.00, Take profit at 2460.00, Stop loss at 2448.00

    ********************************************

    EUR/CHF

    From GMT 10:00 14/07/2017
    Till GMT 21:00 14/07/2017

    Buy at 1.10700
    Take profit at 1.11100
    Stop loss at 1.10500

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38425

    Daily Report on July 12, 2017

    Asian shares were mixed on Wednesday with MSCI’s broadest index of Asia-Pacific shares outside Japan ticking up 0.4 percent. Meanwhile, Japanese equities lost ground as the yen rose 0.5 percent, the most in a week, to 113.36 per dollar. Japan’s yen-sensitive Nikkei index slid 0.3 percent while Japan’s Topix Index lost 0.6 percent.

    Australia’s S&P/ASX 200 Index​ was also on a downtrend, declining​ 0.8 percent. South Korea’s Kospi Index​ and the Shanghai Composite Index​ fell 0.1 percent​ and 0.2 percent, respectively.​ By contrast,​ led by banks,​ Hong Kong’s Hang Seng Index​ jumped above the key 26,000 mark after having surged 0.8 percent.

    The U.S. dollar inched lower against its rivals after Federal Reserve Governor Lael Brainard on Tuesday said she wanted to “monitor inflation developments carefully”. Brainard said the Fed’s current policy rate was not far from its neutral level and further increases in the federal funds rate should be considered cautiously in order not to restrain inflation growth. The U.S. dollar index lost 0.24 percent to trade at 95.53.

    Crude oil futures prices continued to advance in Asia on Wednesday, extending their up moves to a third trading session in a row. The price was supported by a report released by the U.S. Energy Information Administration on Tuesday which showed that the EIA expected U.S. crude oil output to increase by less than previously anticipated next year given a lower price outlook.

    Meanwhile, the latest American Petroleum Institute (API) inventory data pointed to a draw of 8.13 million barrels for the week ending July 7th. This followed a draw of 5.76 million barrels recorded in the previous week and topped market’s expectation for a draw of around 2.5 million barrels last week. Official data from the Energy Information Administration will be published later in the day.

    Technicals

    AUDUSD

    AUDUSD has been tracing a sharp uptrend​ after having broken out of a period of moving sideways around the 23.6% Fibonacci retracement. The price action has also been liberated from the constraint of the long-term MA50. Both RSI and ADX are on a strong rise, which may send the price higher to a resistance at 0.77000.

    Trade suggestion

    Buy Stop at​ 0.76600, Take profit at​ 0.77000, Stop loss at​ 0.76400

    AUDNZD

    AUDUSD breached the 23.6% Fibonacci retracement yesterday and also broke out of a firm resistance at 1.05500 – the level that forced the pair to reverse lower on June 15th​ and June 04th. The short-term MA20 has crossed over the long-term MA50 from below, confirming the uptrend. A resistance at 38.2% Fibonacci level is expected to be tested.

    Trade suggestion

    Buy Stop at​ 1.05800, Take profit at​ 1.06200, Stop loss at​ 1.05600

    BRENT

    Brent crude oil futures prices once again rebounded from a significant level at 38.2% Fibonacci retracement. As can be seen from the chart, the price action has surpassed both the short-term MA20 and the long-term MA50 from below, confirming the reversal into an uptrend. RSI continued to point higher while ADX​ index is edging higher, signaling further advances for the commodity.

    Trade suggestion

    Buy Stop at​ 48.320, Take profit at​ 49.150, Stop loss at​ 47.900

    COPPER

    Copper bounced back from a support at 23.6% Fibonacci retracement and has brought its price action above both the short-term MA20 and the long-term MA50.​ Further advances to a resistance at 2.7160 are expected as all indices are supporting the price. While RSI is heading upwards, ADX index is edging higher with a widening gap between two DI lines.

    Trade suggestion

    Buy Stop at​ 2.6860, Take profit at​ 2.7160, Stop loss at​ 6.6710.

    NASDAQ 100

    NASDAQ 100 index has been facing a firm resistance at 5720.00. The U.S. stock benchmark index has been supported by two MAs that are lingering below the price action and looked set to trade higher. The RSI index which is at as high as 62.32 indicates a strong bullish force in the market. A resistance at 5770.00 is within the sight.

    Trade suggestion

    Buy Stop at​ 5720.00, Take profit at​ 5770.00, Stop loss at​ 5700.00

    *********************************

    U.K. Shares Advance Following Job Data, Supported by A Jump in Burberry

    U.K. shares jumped on Wednesday, supported by gains in oil and gas and consumer-goods stocks as well as bullish sentiment coming after better-than-expected job data.

    The U.K.’s benchmark FTSE 100 added more than 0.7 percent to trade at 7,383.76. Shares of Burberry Group PLC led the list off gainers, climbing 2.41 percent after the British luxury retailer posted retail revenue of 478 million pounds ($615.6 million) in the fiscal first quarter ended June 30. The reading marked a rise of 3% compared with the same period last year.

    Meanwhile, data released by the Office for National Statistics showed that the jobless rate in the U.K. unexpectedly decreased in May. Indeed, the rate of unemployment was reported to fall to 4.5% in May, beating analysts’ forecast for an unchanged rate at a four-decade low of 4.6%.

    The ONS also published data on the number of people claiming unemployment-related benefits that increased by a seasonally adjusted 6,000 in June. That was well below expectations that called for a gain of 10,000 people.

    Trade suggestion

    Buy Stop at 7385.00, Take profit at 7405.00, Stop loss at 7375.00

    ***************************************

    WTI Crude Jumps on The Back of Reports Forecasting Lower Output from the U.S.

    U.S. crude oil futures prices continued to advance in Asia on Wednesday, extending their up moves to a third trading session in a row. The price was supported by a report anticipating that U.S. crude production may not rise as much as previously forecast.

    The U.S. West Texas Intermediate crude August contract jumped 1.6 percent to trade around $45.77 a barrel on Wednesday. The U.S. Energy Information Administration on Tuesday said that it expected U.S. crude oil output to increase by less than previously anticipated next year given a lower price outlook.

    According to the agency’s latest monthly short-term energy outlook, it trimmed its forecast for 2018 crude oil output to a rise of 570,000 barrels per day from last month’s forecast of a 680,000 bpd year-over-year increase. If confirmed, U.S. oil production would reach 9.9 million barrels per day next year. The agency’s forecast for 2017, which calls for an output of 9.3 million bpd, is unchanged.

    Meanwhile, the latest American Petroleum Institute (API) inventory data pointed to a draw of 8.13 million barrels for the week ending July 7th. This followed a draw of 5.76 million barrels recorded in the previous week and topped market’s expectation for a draw of around 2.5 million barrels last week.

    Official data from the Energy Information Administration will be published later in the day.

    Crude oil futures prices once again rebounded from a significant level at 38.2% Fibonacci retracement. As can be seen from the chart, the price action has surpassed both the short-term MA20 and the long-term MA50 from below, confirming the reversal into an uptrend. RSI continued to point higher while ADX index is edging higher, signalling further advances for the commodity.

    Trade suggestion

    Buy Stop at 45.800, Take profit at 46.500, Stop loss at 45.600

    **********************************

    USD/CAD

    From GMT 15:00 12/07/2017
    Till GMT 21:00 12/07/2017
    Sell at 1.28200
    Take profit at 1.27600
    Stop loss at 1.28500

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38387

    Daily Report on July 11, 2017

    Asian shares advanced on​ Tuesday, supported by sentiment underpinned by technology-led gains on Wall Street in the previous session. Ahead of the U.S. second-quarter earnings season which is due to kick off later in the day, the MSCI Asia Pacific Index rose a second day, adding 0.5 percent. Meanwhile, Japan’s Topix Index jumped 0.4 percent, and South Korea’s Kospi climbed 0.3 percent.

    Australia’s S&P/ASX 200 Index added 0.1 percent, on a rise with​ Chinese equities in Hong Kong while mainland markets continued to buck the trend. Hong Kong’s Hang Seng Index soared 1.1 percent and The Hang Seng China Enterprises Index rose 1.4 percent. By contrast, the Shanghai Composite Index fell​ for a second day, shedding 0.2 percent. Singapore’s Straits Times Index dropped 0.4 percent.

    The New Zealand dollar plunged by nearly 0.6 percent in Asian trading session on Tuesday following the release of​ spending data​ that​ missed forecasts. The kiwi​ traded at 72.37​ U.S. cents​ after data on New Zealand Retail Card Spending for June arrived at 0% on a monthly basis. This was well below expectations calling for a rise of 0.8 percent.

    Crude oil prices​ inched higher on Tuesday with Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures both adding 0.4 percent. Speaking on the sidelines of an energy conference in Istanbul, Kuwait Oil Minister Issam Almarzooq said that Libya and Nigeria, two countries which had been invited to a meeting between OPEC and non-OPEC producers in St. Petersburg, Russia, on July 24, might be asked to cap their crude output soon in an effort to help re-balance the market.

    Technicals

    USDJPY

    USDJPY has been moving sideways around a level at 114.200 since the start of this week.​ However, the pair has still been receiving support from two MAs, which may send the pair higher to test a resistance at 61.8% Fibonacci retracement. RSI and ADX are edging higher, signaling further advances for the currency pair.​

    Trade suggestion

    Buy Stop at​ 114.300, Take profit at​ 114.600, Stop loss at​ 114.200

    SILVER

    As can be seen from the price chart,​ silver price has been under downward pressure exerted by two MAs that are hanging above the price action. The metal is heading downwards, looking set to test a low at 15.200 with the market dominated by sellers, as indicated by RSI index. ADX index is also witnessing a widening gap between –DI and +DI lines, confirming the signal for further down moves.​

    Trade suggestion

    Sell​ Stop at​ 15.500, Take profit at​ 15.200, Stop loss at​ 15.650

    GOLD

    Gold fell to test the 50.0% Fibonacci retracement again after having failed to surge above the long-term MA50. The precious metal even dropped below the short-term MAs with the RSI index having plunged to as low as 42.41. A breakout is expected with a support at 1205.00 within the sight.

    Trade suggestion

    Sell​ Stop at​ 1210.00, Take profit at​ 1205.00, Stop loss at​ 1212.00

    SP500

    SP500 index​ has been supported by two MAs which are moving below the price action. The index​ rebounded from​ the short-term MA20​ and has​ surged above two MAs again. RSI index is heading higher,​ suggesting a strengthening bullish momentum. A resistance at 2440.00 is within the sight.

    Trade suggestion

    Buy Stop at​ 2430.00, Take profit at​ 2440.00, Stop loss at​ 2425.00

    BRENT

    Brent crude​ futures prices​ retreated under pressure from the short-term MA20 that is lingering above the price action. RSI remained under 50, suggesting a market that is dominated by sellers. A support at 46.100 – the lowest level in the previous session- may be tested again.

    Trade suggestion

    Sell​ Stop at​ 46.900, Take profit at​ 46.100, Stop loss at​ 47.300

    ************************************************

    Shares of Marks & Spencer and Pearson Lead Losses, Sending FTSE 100 Sharply Lower

    U.K. shares fell sharply on Tuesday, driven lower by shares of consumer goods and heath care companies. Those losses encountered small gains of basic material, utility and financial stocks.

    The FTSE 100 index plunged by more than 0.55 percent to trade around 7328.00 in European morning session. Leading the list of losers, shares Pearson PLC tumbled in the wake of a $1 billion stake-selling deal. The publishing and education company witnessed its shares lose nearly 2.5 percent after it sold 22% stake in Penguin Random House for $1 billion to Bertelsmann SE – a German media company.

    Contributing to weighting down the overall performance, shares of Marks & Spencer were also on a sharp downtrend. Equities of the department-store operator dropped nearly 2.3 percent following reports showed fiscal first-quarter 2018 like-for-like sales in the U.K. fell 0.5%.

    Trade suggestion

    Sell Stop at 7320.00, Take profit at 7380.00, Stop loss at 7340.00

    ********************************************************

    British Pound Loses Ground Versus Dollar Following BOE Deputy’s Warning

    Sterling tumbled versus its American counterpart on Tuesday after Bank of England Deputy Governor Ben Broadbent warned about a reduction in trade for both the British economy and the EU’s in the aftermath of the U.K.’s leaving.

    The pair GBPUSD dropped more than 0.3 percent to trade around 1.284 in early North American trading session on Tuesday. During a speech to the Scottish Council for Development and Industry in Aberdeen, BOE Deputy Broadbent said that Britain’s economy would be dragged down by Brexit which looks set to impact on existing trade links between the country and the European Union.

    Meanwhile, the dollar held on gains versus its peers ahead of Federal Reserve Chair Janet Yellen’s testimonies. Yellen is scheduled to deliver her semi-annual monetary policy testimony before the Senate Banking Committee on Wednesday and in front the House Financial Services Committee on Thursday. Investors will looking for Yellen’s comments which may provide fresh cues on the future path of interest rates.

    Trade suggestion

    Sell Stop at 1.28400, Take profit at 1.28000, Stop loss at 1.28600

    ****************************************************

    NZD/JPY

    From GMT 12:00 11/07/2017
    Till GMT 21:00 11/07/2017
    Sell at 82.500
    Take profit at 82.100
    Stop loss at 82.700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38353

    Daily Report​ on July 10, 2017

    Asian shares advanced on Monday, boosted higher by bullish sentiment that dominated in U.S. market on Friday. Strong performance on Wall Street, which came after upbeat Non-farm Payrolls, sent the MSCI Asia Pacific Index​ 0.5 percent​ higher. The index dropped​ 1.2 percent last week.​ Last Friday, the Nasdaq Composite led gains with a 1 percent jump, the S&P 500 followed with a rise of 0.6 percent while the Dow Jones Industrial Average added 0.4 percent

    Japan’s Topix index jumped​ 0.5 percent​ and​ Nikkei rose 0.7 percent.​ Australia’s S&P/ASX 200 Index​ also gained 0.7 percent. While South Korea’s Kospi index inched​ 0.3 percent​ higher,​ Hong Kong’s Hang Seng Index​ recorded its biggest gain this month with a jump of​ 1 percent.​ The Shanghai Composite Index lost 0.2 percent​ after data showed​ China’s producer price​ index rose 5.5 percent on a yearly basis​ and the consumer price index was up 1.5 percent​ in June.

    Crude oil prices edged higher on Monday, recovering from a 3-percent fall in the previous session. However, markets are expected to remain under pressure due to high drilling activity in the United States. According to data released by the energy services company Baker Hughes late Friday, U.S. energy firms added seven oil drilling rigs last week. This was a 24th week of increases out of the last 25, which brought the total count up to 763, the most since April 2015.

    Elsewhere, Japanese Cabinet Office on Monday said the country’s core​ machinery orders unexpectedly tumbled in May.​ On a monthly basis, core orders were reported to​ drop​ 3.6 percent in May – the​ steepest month-on-month decline since August 2016. The reading, which came after a decline of 3.1 percent in May, was also well below​ the 1.7 percent​ increase expected by economists.


    Technicals

    NZDJPY

    NZDJPY has been tracing a steady uptrend since May 21st, extending its upbeat moves to the eighth week in a row after shooting the price to​ a more-than-six-month high last week. The pair has been supported by two MAs which are lingering below the price action. With RSI edging higher and a widening gap between +DI and –DI lines, the pair is expected to test the 100% Fib. retracement.

    Trade suggestion

    Buy Stop at​ 83.100, Take profit at​ 83.700, Stop loss at​ 82.800

    AUDJPY

    AUDJPY rebounded from a support at 85.900 and the long-term MA50 to surge to as high as 86.900 – 15-week highs logged on July 04th. With the support from two MAs as well as bullish signals from ADX and RSI indices, the​ currency pair is anticipated​ to climb higher to test a resistance at 87.400.

    Trade suggestion

    Buy Stop at​ 86.900, Take profit at​ 87.400, Stop loss​ at​ 86.700

    SP500

    SP500 index rebounded from a consolidation around 2410.00 on Friday and has brought its price action above both long-term and short-term MAs. While RSI index is heading higher, ADX has also been on a rise with a widening gap between two DIs, suggesting a strengthening bullish momentum. A resistance at 2440.00 is within the sight.

    Trade suggestion

    Buy Stop at​ 2430.00, Take profit at​ 2440.00, Stop loss at​ 2425.00

    GOLD

    Gold inched lower on Monday after having declines for two weeks in a row. The precious metal is testing a support at 50.0% Fibonacci level at around $1210.00 per ounce – the lowest level since March 15th. Two MAs, especially the short-term MA20, is pressurizing the price. A breakout is expected and gold may test another firm support at 1200.00.

    Trade suggestion

    Sell​ Stop at​ 1209.00, Take profit at​ 1200.00, Stop loss at​ 1213.00

    DOW JONES

    Dow Jones index reversed higher at a firm support at 21310.00. Sharp up moves have sent the price action above two MAs, confirming the reversal into an uptrend. RSI index has crossed over the 50 line, suggesting a strengthening bullish force in the market. The stock benchmark index may extend its upbeat moves and test all-time high record at 21540.00.

    Trade suggestion

    Buy Stop at​ 21445.00, Take profit at​ 21540.00, Stop loss at​ 21400.00

    *****************************************

    Crude Oil Reverses Gains, Under Pressure of Persistent Oversupply

    Crude oil futures prices reverse lower in European trading session on Monday; paring earlier gains to extend their downward rally to a fourth consecutive day amidst persistent oversupply worries.

    On the New York Mercantile Exchange, light, sweet crude futures for delivery in August inched around 0.1 percent lower to trade around $44.20 per barrel in early European trade after surging as high as $44.67 per barrel in Asian trading session.

    Markets remained under pressure from rising output in the U.S. and some members of the Organization of Petroleum Exporting Countries. Data from the U.S. Energy Information Administration showed that U.S. production rose to nearly 9.34 million barrels a day last week. This was an increase from 9.25 million barrels a day the week prior. Compared to the same period one year ago, production jumped nearly 11%.

    Moreover, Baker Hughes Inc. on Friday reported U.S. oil producers added seven more rigs last week. This was a 24th week of increases out of the last 25, which brought the total count up to 763, the most since April 2015.

    Meanwhile, according to market sources, Libya’s crude-oil output soared to more than one million barrels a day, up from 400,000 in October. Nigeria’s output was also on a rise, surging to 1.6 million barrels a day, up from 200,000 barrels a day in October.

    Crude oil futures prices retested a significant level at 38.2% Fibonacci retracement after having to give up its bearish momentum to reverse higher last Friday. As can be seen from the chart, the short-term MA20 has crossed over the long-term MA50 , confirming the downtrend. RSI continued to point lower while ADX index is witnessing a widening gap between -DI and +DI lines, signalling a breakout and further down moves.

    Trade suggestion

    Sell Stop at 44.00, Take profit at 43.00, Stop loss at 45.50

    *****************************************

    EUR/CAD

    From GMT 15:25 10/07/2017
    Till GMT 21:00 10/07/2017
    Sell at 1.46600
    Take profit at 1.46600
    Stop loss at 1.46900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38312

    Daily Report on July 07, 2017

    Asian shares tumbled on the last session of the week after U.S. shares lost ground on Wall Street on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.6 percent​ following a weak session in the U.S. where witnessed the Dow lost 0.7 percent while the S&P 500 declined 0.9 percent and the tech-heavy Nasdaq fell 1 percent on Thursday.

    In Asia, Japan’s Nikkei lost​ 0.1 percent, South Korea’s KOSPI slipped​ 0.3 percent and Australian stocks plunged​ 1.3 percent. Hong Kong’s Hang Seng shed​ 0.35 percent.​ Also trading in the red, the Hang Seng Index retreated 0.42% and the Shanghai Composite dropped 0.39%.

    Crude oil futures prices fell by more than 1 percent early on Friday​ with both crude-oil benchmarks​ slipped after having soared on the back of a weekly report that pointed to a bigger-than-expected decline in U.S. inventories of crude. The slump came after reports about a​ production rise in the​ U.S.​ The data​ showed​ a 1 percent rise in weekly U.S. oil production to 9.34 million barrels per day (bpd). Since mid-2016, that’s an increase of more than 10 percent.

    Markets were nervously waiting for​ the Labor Department’s June nonfarm payrolls report. The report is forecast by analysts to show U.S. employers to have added 179,000 jobs last month. Ahead of Friday’s jobs data, the ADP National Employment Report​ released on Thursday​ showed private-sector payrolls increased by 158,000 jobs last month. The reading came​ in below​ both​ the 230,000 jobs created in May and​ economists’ expectations for a rise of 185,000.

    Technicals

    GBPJPY

    Supported by two MAs moving below the price action, GBPJPY surged to a nearly-two-month high in early trade on Friday, extending their rally to a third trading session in a row. The pair fell into a consolidation following the sharp up move but is expected to edge higher as buyers are dominating the market, as indicated by RSI index which has soared to as high as 64.76.

    Trade suggestion

    Buy Stop at​ 147.500, Take profit at​ 148.00, Stop loss at​ 147.300

    BRENT

    Brent crude prices gapped down on Friday and continued to extend their downward rally as the price action has fallen back below the long-term MA50. The commodity is facing a firm support at 47.500 and is anticipated to trade lower to test another firm support at 46.750 with a RSI index that has dipped to as low as 39.23.

    Trade suggestion

    Sell​ Stop at​ 47.400, Take profit at​ 46.750, Stop loss at​ 47.700

    DAX

    Germany’s DAX 30 index has been struggling around a support at 12366.00 – a level at which the index had to reverse higher in late-June. The price action failed to sustain its bullish momentum after breaching the short-term MA20. With a RSI index pointing lower which indicates a dominating bearish force in the market, the pair is expected to test the 23.6% Fibonacci level.

    Trade suggestion

    Sell​ Stop at​ 12330.00, Take profit at​ 12240.00, Stop loss at​ 12370.00

    Dow Jones

    Dow Jones extended their down moves to a third day in a row, which sent the price action below both long-term and short-term MAs to as low as 21310.00 – a strong support that had forced the pair to rebound earlier in June. While RSI was at low level, ADX is rising, signaling further downbeat moves. A support at 21195.00 is within the sight.

    Trade suggestion

    Sell​ Stop at​ 21305.00, Take profit at​ 21195.00, Stop loss at​ 21405.00

    **********************************************

    Pressurized by Strong Dollar, Gold Drops to Two-month Lows After NFP Data

    Gold slumped for a second day, looking set to close the week at the lowest in nearly two months on Friday as the U.S. dollar strengthened after the release of an upbeat report on jobs created in June, which may bolster the Federal Reserve’s case to hike rate further in the second half of the year.

    Gold futures for August delivery dropped nearly 0.7 percent to trade around $1215.00 per ounce after data published by the Labor Department showed the U.S. created 222,000 new jobs in June. Thanks to accelerating hiring in the spring, the reading was the largest in four months and was well above analysts’ forecast calling for a rise of 175,000 jobs created last month.

    While the hourly pay rose 0.2% to $26.25 an hour in June, the unemployment rate ticked higher to 4.4% from 4.3% in May (which was also the lowest jobless rate in 16 years) as more people entered the labor force in search of work.

    Trade suggestion

    Sell Stop at 1215.00, Take profit at 1210.00, Stop loss at 1217.00

    *************************************************

    British Pound Tumbles Versus Dollar After A String of Downbeat Economic Data

    Sterling dropped lower versus the U.S. dollar on Friday following downbeat U.K. data on manufacturing production. Meanwhile, the greenback held on gain ahead of a highly-expected U.S. Non-farm Payrolls which is due later in the day.

    The currency pair GBPUSD lost more than 0.4 percent to trade at 1.2917 during European morning trade – its lowest level since Wednesday. The Pound pushed lower against most of its peers after the U.K. Office for National Statistics reported that manufacturing production retreated by 0.2% in May.

    This was a disappointment compared to an increase of 0.2% recorded in the previous month and analysts’ forecast for a rise of 0.5 percent. On a yearly basis, manufacturing production advanced by 0.4%, well below expectation calling for an increase of 1.0%.

    Besides, the ONS also reported data on U.K. industrial production which pointed to a down move of 0.1% in May. Economists had expected a 0.4% rise. Adding to the pressure on Sterling, construction output was reported to plunge by 1.2% while markets were expecting the figure to soar 0.6%.

    Turning to the greenback, investors were nervously waiting for the Labor Department’s June nonfarm payrolls report. The report is forecast by analysts to show U.S. employers to have added 179,000 jobs last month. Ahead of Friday’s jobs data, the ADP National Employment Report released on Thursday showed private-sector payrolls increased by 158,000 jobs last month. The reading came in below both the 230,000 jobs created in May and economists’ expectations for a rise of 185,000.

    Upbeat data will support the dollar to surge higher as they increase the optimism about the U.S. economy which would boost the case for higher interest rates at the second half of this year and in the following months.

    On the contrary, a weak report would add to uncertainty over the economic outlook and prompt the Federal Reserve to delay the plans with regards to policy normalization to next year.

    Trade suggestion

    Sell Stop at 1.29100, Take profit at 1.28700, Stop loss at 1.29300

    ************************************************

    GBP/USD

    From GMT 14:30 07/07/2017
    Till GMT 21:00 07/07/2017
    Sell at 1.28700
    Take profit at 1.28300
    Stop loss at 1.28900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38280

    Daily Report on July 06, 2017

    Most Asian stock markets fell on Thursday with the MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.2 percent after U.S. stock market closed mixed in the previous session.​ A​ sharp drop in oil prices weighed down​ the energy sector​ and kept the Dow and S&P 500 near​ the unchanged mark on Wednesday. By contrast,​ gains in technology stocks lifted the Nasdaq.

    Japan’s Topix edged​ 0.1 percent​ lower and South Korea’s Kospi and Singapore’s Straits Times Index shed 0.2 percent while​ Australia’s S&P/ASX 200 Index was flat.​ ​ The Shanghai Composite Index was also little changed but​ Hong Kong’s Hang Seng Index​ and the Hang Seng China Enterprises Index retreated​ 0.1 percent​ and​ 0.4 percent, respectively.

    Crude oil continued to inch lower on Thursday after having tumbled about 4 percent on Wednesday. The sharp decline came after reports showed exports by the Organization of the Petroleum Exporting Countries (OPEC) rose last month. According to data released by the Thomson Reuters Oil Research, OPEC exported 25.92 million barrels per day (bpd) in June, which was 450,000 bpd above May and 1.9 million bpd more than a year earlier.

    Meanwhile, data from the American Petroleum Institute (API) pointed to a drop of 5.8 million barrels in U.S. crude oil inventories in the week to June 30 to 503.7 million. Official data from the Energy Information Administration will be published later in the day.

    The dollar steadied against its peers early on Thursday​ following​ the Federal Reserve’s minutes of​ the central bank’s June 13-14 policy meeting. The minutes showed a widening gap in​ Fed policymakers’​ outlook for inflation and how it might affect the future pace of interest rate hikes. While several officials wanted to announce a start to the process of​ unwinding their $4.5 trillion balance sheet​ by the end of August,​ others preferred to wait until later in the year.

    Technicals

    EURGBP

    EURGBP has been moving sideways around the level 0.87700 for more than two weeks. Under downward pressure from two MAs which has been lingering above the price action, the pair is likely to trade lower possibly to as low as 0.87250. While RSI is heading lower, ADX is mounting with a widening gap between the –DI and +DI lines.

    Trade suggestion

    Sell​ Stop at​ 0.87600, Take profit at​ 0.87250, Stop loss at​ 0.87750

    Natural gas

    Natural gas slumped on Wednesday, falling to as low as 2.8271 – the lowest level since March 08th. The commodity also tested a support at 23.6% Fibonacci retracement before falling into a correction as the sharp down move sent the market into the oversold zone. With a bear dominating the market, as indicated by the RSI that was at 34.62, natural gas may breach the Fib. level and drop to a support at 2.7800.

    Trade suggestion

    Sell​ Stop at​ 2.8400, Take profit at​ 2.7800, Stop loss at​ 2.8700

    COPPER

    As can be seen from the price chart, Copper price has been under pressure from two MAs that are hanging above the price action. The commodity may inch lower​ to surpass the 23.6% Fibonacci retracement again and to test a support at 2.6400. The RSI index has pointed down to as low as 35.95, confirming signals for further downtrend.​

    Trade suggestion

    Sell​ Stop at​ 2.6520, Take profit at​ 2.6400, Stop loss at​ 2.6580

    FTSE 100

    FTSE 100 has been trapped between a resistance at 7383.50 and​ a slopping upward trend line which connects higher lows. Two Mas are hanging below the price action, which may support the stock benchmark index to surge higher. The gain may be strained by a downtrend line that has been hanging above the price action and connecting lower highs.

    Trade suggestion

    Buy Stop at​ 7383.50, Take profit at​ 7415.00, Stop loss at​ 7370.00

    *****************************************

    Crude Oil Futures Take Off After the EIA Confirms A Sharp Decline In U.S. Supplies

    Crude oil futures prices jumped sharply on Thursday, reversing higher from their worst loss in a month, after official data from the Energy Information Administration confirmed a sharp decline in crude oil inventories last week.

    U.S. crude oil for August delivery climbed around 2 percent to trade around $46.20 per barrel on the New York Mercantile Exchange. The price had reversed in early trade thanks to data released by the American Petroleum Institute that showed U.S. crude supplies lost 5.8 million barrels in the week ended June 30.

    The EIA on Thursday said that domestic crude supplies dropped by 6.3 million barrels last week, which was even above a drop of 5.8 million barrels reported by the API and easily topped forecasts for a decline of 1.6 million barrels by analysts.

    Trade suggestion

    Buy Stop at 46.30, Take profit at 47.20, Stop loss at 45.90

    ***********************************************

    U.K. Shares Move Lower, Led by A Tumble in Shares of Reckitt Benckiser

    U.K. shares turned lower on Thursday, led by losses in shares of Reckitt Benckiser as the company cut it sales forecast while stocks of energy companies remained weak even though crude price futures pared losses.

    The FTSE 100 shed more than 0.4 percent in morning session with tech, consumer, commodity and industrial shares trading lower. Only utility sector was trading in the green. The U.K. stock benchmark index gained 0.1% on Wednesday after a choppy session.

    Shares of Reckitt Benckiser Group PLC led losses on Thursday said that it expected to permanently lose some revenue after last month’s cyberattack which would cause 2017 sales to drop sharply. Meanwhile, shares of oil producers contributed to the down trend. Indeed, equities of BP PLC and rival Royal Dutch Shell lost 0.1 percent and 1.22 percent, respectively.

    On the upside, shares of Associated British Foods PLC jumped nearly 3.7 percent thanks to rosy outlook that full-year earnings will be improved on the back of a strong performance by ABF’s its Primark fashion retail chain.

    Trade suggestion

    Sell Stop at 7305.00, Take profit at 7265.00, Stop loss at 7235.00

    ************************************************

    EUR/CAD

    From GMT 08:40 06/07/2017
    Till GMT 21:00 06/07/2017
    Sell at 1.46800
    Take profit at 1.46300
    Stop loss at 1.47000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38242

    Daily Report on July 05, 2017

    Asian shares were mixed on Wednesday with some markets remained weak due to geopolitical concerns.​ MSCI’s broadest index of Asia-Pacific shares​ outside Japan added 0.1 percent after dropping​ 0.6 percent​ in the previous session​ when North Korea fired a missile into Japanese waters.​ Supported by gains in shares of automakers and technology companies,​ Japanese and Hong Kong equities reversed early declines.

    Indeed,​ Japan’s Topix index advanced 0.4 percent,​ paring​ an earlier loss​ thanks to shares of​ Subaru Corp.​ which rallied​ 3.4 percent and​ those​ Toyota Motor Corp.​ that​ jumped​ 1.4 percent. The​ Japanese​ yen​ lost ground to the dollar after early advanced. The Yen​ was up 0.2 percent to 113.11 per dollar​ after​ having climbed​ as much as 0.6 percent during Tuesday’s session.

    Meanwhile, Hong Kong’s Hang Seng jumped​ 0.4 percent​ with​ Geely Automobile Holdings Ltd. rebounding​ 1.5 percent. The Hang Seng China Enterprises Index​ and the Shanghai Composite Index rose around 0.2 percent while​ Australia’s S&P/ASX 200 Index shed​ 0.4 percent after soaring 1.8 percent Tuesday. South Korea’s Kospi​ swung between gains and losses​ on Wednesday.

    According to Markit data released on Wednesday,​ China’s services sector grew at a slower pace in June. The PMI index edged lower to 51.6 in June from 52.8 in May due to the fact that​ new orders slumped. June’s reading was​ the second-lowest business activity level for service providers in over a year.

    Meanwhile,​ activity in Japan’s services sector​ was reported to​ accelerate on a monthly basis. The PMI index for Japanese service sector advanced to 53.3 in June from 53.0 in May, extending the expansion for the ninth consecutive month and reaching the highest level since August 2015.

    Technicals

    AUDJPY

    AUDJPY rebounded from a support at 85.900 where it also had to give up its bearish strength​ fourth times since the second half of last week. The price action has crossed over the short-term MA20 and is facing the long-term MA50. In the event of continual uptrend, the pair may test a three-month high at 87.000.

    Trade suggestion

    Buy Stop at​ 86.300, Take profit at​ 87.000, Stop loss at​ 86.000

    EURUSD

    EURUSD has been moving sideways to lower around the level 1.13400.​ The pair is facing a dynamic support at​ the long-term MA50 after having crossed over the short-term MA20. As can be seen from the chart, the RSI index has inched down to as low as 44.57, signaling a strengthening downtrend. Further down moves are expected.

    Trade suggestion

    Sell​ Stop at​ 1.13400, Take profit at​ 1.12900, Stop loss at​ 1.13600

    Natural Gas

    Natural gas’s price action rebounded from a firm support at 2.9510 and also crossed over both the long-term and short-term MAs on Tuesday, signaling a reversal into an uptrend. The short-term MAs has converged with the long-term MA50 from below, while the RSI is edging higher, suggesting further advances for the commodity.​

    Trade suggestion

    Buy Stop at​ 2.9870, Take profit at​ 3.0350, Stop loss at​ 3.0100

    GOLD

    As can be seen from the price chart, gold futures prices failed to breach the long-term MA50 at as high as 1228.72. The precious metal fell below the short-term MA20 and may inch lower with the​ ADX index rising which indicates a strong bearish momentum in the market. A support at 1217.00 is within the sight.

    Trade suggestion

    Sell​ Stop at​ 1222.00, Take profit at​ 1217.00, Stop loss at​ 1224.00

    *****************************************

    Gold Futures Hold Near Almost-two-month Lows Ahead of Fed’s Minutes

    Gold futures prices resumed their downward rally on Wednesday after an advance in the previous session. The precious metal gained ground on Tuesday on the back of reports that showed North Korea had launched a missile that could land in Japanese exclusive economic zone, but turned lower on Wednesday ahead of Fed’s minutes.

    Gold futures prices for August delivery edged lower to trade at $1218.00 an ounce – the lowest level since May 11th in North American trade on Wednesday as dollar held firm. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, added 0.16% at a one-week high of 96.14.

    U.S. market will reopen today after having closed for July 4th holiday. Later in the day, the Federal Reserve will release minutes of its most recent policy meeting where the central bank raised interest rates as widely expected. The minutes were expected to provide fresh clues on the likelihood of another U.S. interest rate hike this year.

    Trade suggestion

    Sell Stop at 1218.00, Take profit at 1213.00, Stop loss at 1220.00

    ******************************************************

    Canadian Dollar Holds on Gains Against the Greenback On the Back of Poloz Comments

    The Canadian dollar fell into a consolidation versus the greenback on Wednesday after having soared to a 10-month high of C$1.2912 to the dollar in the previous session. The Loonie received a huge support from hawkish comments of Bank of Canada Governor Stephen Poloz.

    The pair USDCAD was nearly unchanged in early trade in Asian session, holding around C$1.2934 per dollar after dropping nearly 0.5 percent on Tuesday. BOC’s Governor Stephen Poloz was reported to claim that the central bank’s stimulus monetary policy should be normalized before Canada’s inflation hits BOC’s target, which was also anticipated to be well into an uptrend by the first half of 2018.

    Poloz’s comments did not only spur the chance of a rate hike at the central bank’s next meeting on July 12 to above 50 percent but was also in turn with its counterparts in the Euro zone and the England (the European Central Bank and the Bank of England) which signaled future tightening in their policies last week.

    U.S. market will reopen today after having closed for July 4th holiday. Later in the day, the Federal Reserve will release minutes of its most recent policy meeting where the central bank raised interest rates as widely expected.

    Trade suggestion

    Sell Stop at 1.29200, Take profit at 1.28600, Stop loss at 1.29500

    ***********************************************

    EUR/GBP

    From GMT 12:00 05/07/2017
    Till GMT 21:00 05/07/2017
    Sell at 0.87650
    Take profit at 0.87250
    Stop loss at 0.87850

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38194

    Daily Report on July 04, 2017

    Asian shares were mixed on Tuesday​ after the Dow Jones Industrial Average reached a fresh record in the NYSE on Monday but technology shares tumbled and sent the Nasdaq 100 Index down 0.9 percent. Technology shares extended their selloff in Asian trading session while stocks of banks and energy companies rallied. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2 percent.

    Japan’s Topix index reversed lower, shedding 0.2 percent after an earlier gain of as much as 0.7 percent. South Korea’s KOSPI index tumbled by 0.5 percent following reports that showed North Korea had launched an missile that could land in Japanese exclusive economic zone. Hong Kong’s Hang Seng index, Hang Seng China Enterprises Index and the Shanghai Composite Index all traded in the red.

    By contrast,​ Australian equities surged​ more than 1.8 percent​ as the nation’s biggest banks rebounded​ while the central bank kept the cash rate at 1.5 percent as expected by markets. The Australian dollar advanced in early trade after retail sales data.​ According to the Australian Bureau of Statistics, the country’s retail sales gained 0.6% month-on-month in May.​

    Led by strong spending on household goods, the data rose for a second straight month after a rise of 1.0% in April.​ However, the Aussie​ pared earlier gains to nose-dive against most of its peers following the rate decision.

    Crude oil prices​ retreated in Asian trade on Tuesday,​ putting a break on a run of eight straight days of gains.​ Both Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures fell 0.5 percent.​ The retreat was supposed to be due to the fact that​ any traders closed positions ahead of the U.S. Independence Day holiday on July 4.

    Technicals

    EURJPY

    EURJPY reversed lower after hitting the 61.8% Fibonacci retracement. The price action has crossed over the short-term MA20, suggesting a reversal into a downtrend. While RSI is pointing down, the –DI line has penetrated the +DI lines from below, confirming signals for further down moves.

    Trade suggestion

    Sell​ Stop at​ 128.000, Take profit at​ 127.000, Stop loss at​ 128.500

    AUDCAD

    As can be seen from the price chart, the pair AUDCAD has been tracing a downtrend with lower highs and lower lows formed along the way since early June. The pair has breached a strong support at 61.8% Fibonacci level. However, ADX keeps rising with a widening gap between the –DI and +DI lines, signaling further declines for the pair.

    Trade suggestion

    Sell​ Stop at​ 0.98900, Take profit at​ 0.98500, Stop loss at​ 0.99100

    Natural Gas

    Natural gas futures prices experienced a volatile trading session on Monday when the price rose as high as 3.0451 but the commodity failed to surpass a significant level at 38.2% Fibonacci retracement.​ Natural gas pared had all of its gains of this week and is struggling around a level at 2.9510. RSI remained below the 50 level, suggesting further declines.

    Trade suggestion

    Sell​ Stop at​ 2.9400, Take profit at​ 2.8830, Stop loss at​ 2.9650

    COPPER

    Copper has been tracing a downtrend after having broken out of a period of moving sideways below the level 2.7000. Under the downward pressure from two MAs hanging above the price action, copper has fallen below a support at 2.6740 and is heading towards another firm support at 2.6560. While RSI is pointing lower, ADX is on a rise, indicating a strengthening uptrend.

    Trade suggestion

    Sell​ Stop at​ 2.6700, Take profit at​ 2.6560, Stop loss at​ 2.6770

    **********************************************

    Australian Dollar Reverses Gains After the RBA Holds Rate

    The Australian dollar plunged sharply on Tuesday after the latest rate decision from the Reserve Bank of Australia. The Aussie pared earlier gains to drop to the lowest level since last Wednesday versus the greenback.

    The currency pair AUDUSD nose-dived more than 0.6 percent to trade around $0.7613 after Governor Philip Lowe and his board held the cash rate at record-low 1.5 percent as expected by markets, reversing steeply lower after an advance in early Asian trade.

    The Aussie had risen to as high as $0.7682 on Tuesday as retail sales data beat forecast. According to the Australian Bureau of Statistics, the country’s retail sales gained 0.6% month-on-month in May. Led by strong spending on household goods, the data rose for a second straight month after a rise of 1.0% in April. The figure was also well above a 0.2% rise expected by economists.

    Trade suggestion

    Sell Stop at 0.76100, Take profit at 0.75700, Stop loss at 0.76300

    **********************************************

    EUR/AUD

    From GMT 09:15 04/07/2017
    Till GMT 21:00 04/07/2017
    Buy at 1.49500
    Take profit at 1.49950
    Stop loss at 1.49300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38132


    Daily Report on July 03, 2017

    Asian equity markets were mostly higher on Monday, boosted by firmness in oil prices which extended the longest winning streak of the year. With more shares advancing than declining, the MSCI Asia Pacific Index added less than 0.1 percent on Monday after having finished the second quarter with a gain of 5.2 percent.​

    While​ Japan’s Topix index increased 0.3 percent​ and Hong Kong’s Hang Seng added 0.1 percent,​ South Korea’s Kospi index​ and Australia’s S&P/ASX 200 index slipped 0.3 percent and​ 0.1 percent,​ respectively. ​ The Shanghai Composite​ index​ was flat even after a private survey released on Monday showed​ China’s manufacturing​ activity gauge pointed to an expansion in June.

    Indeed, the Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) jumped to 50.4 in June, which was well above the 49.5 level forecast by analysts. The reading marked a comeback to a growth mood after dropping to 49.6 in May, the first contraction in 11 months.

    Elsewhere, gauges for​ Australia’s manufacturing and service sectors​ were reported to experience strong rises in June as upbeat demand encouraged more hiring and bolstered optimism over the economy’s outlook. The PMI index for manufacturing activity rose to a seasonally adjusted 56.2 in June, from 55.9 in May while the measure of services picked up to 57.0 last month, from 54.8 in May.

    Crude oil prices held on gains on Monday following a seven-day rally by Friday. Data published by Baker Hughes showed U.S. oil rig count fell last week for the first time since early January. U.S. rigs drilling for oil was reported to decline by two to 756 rigs in the week ended on July 30th. This was only the second time the weekly oil-rig count fell this year.

    Technicals​

    USDJPY

    The pair USDJPY gapped down at the open on Monday but failed to cross over a firm support at 38.2% Fibonacci retracement. With the support from two MAs which were lingering below the price action, the pair covered the gap and was edging higher, looking set to reach a resistance at 113.000. Both RSI and ADX indices are rising, confirming the uptrend.

    Trade suggestion

    Buy Stop at​ 112.600, Take profit at​ 113.000, Stop loss at​ 112.400

    BRENT

    Brent crude nearly hit a significant stance at 49.000 on Monday – the highest level since June 12. The market fell into a consolidation after a sharp jump sent the market into the overbought zone, as indicated by the RSI index. ADX retreated a little bit, indicating a weakening bullish momentum. However, buyers are expected to dominate the market again after taking some profits.​

    Trade suggestion

    Buy Stop at​ 49.000, Take profit at​ 50.000, Stop loss at​ 48.500

    GOLD

    Gold has been tracing a downtrend under downward pressure from two MAs hanging above the price action. The precious metal is likely to test a six-week low at $1235.00 an ounce and even may fall lower to the 38.2% Fibonacci level. While RSI is inching lower, ADX is rising with a widening gap between the –DI and +DI lines.

    Trade suggestion

    Sell​ Stop at​ 1237.00, Take profit at​ 1232.00, Stop loss at​ 1239.00

    DAX 30 Index​

    Germany’s DAX 30 index has been struggling with a support at 12366.00 since last Thursday after having fallen out of a slopping upward trading range. Following sharp down moves, the stock benchmark index fell into a consolidation. However, as can be seen from the RSI chart, the bear is dominating the market and is expected to send the price to as low as the 23.6% Fibonacci retracement.

    Trade suggestion

    Sell​ Stop at​ 12350.00, Take profit at​ 12240.00, Stop loss at​ 12400.00

    ********************************************

    Stocks of Energy and Financials Rally, Encountering Losses In Tech Shares

    U.S. shares were mostly higher on Monday as a rally in energy and financials covered losses in tech shares. Besides, a private index on U.S. manufacturing activity, which was reported to rise to the highest level since mid-2014, boosted optimism over the U.S. economy and sent the U.S. stock market higher.

    The stock benchmark index S&P500 advanced nearly 0.6 percent with nine out of eleven sectors trading on a positive note. Energy sector led gains, soaring more than 2.3 percent on Monday on the back of firmness in crude oil prices which extended their rally to an eighth session in a row. Meanwhile, financial sector was also on a sharp rise with shares of Morgan Stanley, JPMorgan Chase, Wells Fargo and Citgroup trading higher.

    By contrast, tech and utility shares lagged behind. While the former lost 0.42 percent, the latter shed 0.32 percent.

    Data released by the Institute for Supply Management (ISM) showed the gauge for domestic manufacturing activity advanced to 57.8 last month from May’s reading of 54.9. Spurred by the new orders index that rose to 63.5 in June from 59.5 a month earlier, the figure did not only top analysts’ forecast for an increase to just 55.2 but also marked the fastest growth pace in almost three years.

    The New York Stock Exchange will be closed on Tuesday in the observation of the Independence Day.

    Trade suggestion

    Buy Stop at 2437.00, Take profit at 2445.00, Stop loss at 2433.00

    *********************************************

    Dollar Jumps to Nearly-two-month Highs versus Yen Following Factory Data

    The dollar jumped more than 0.7 percent versus the Japanese Yen on Monday after a private index on domestic manufacturing activity, which was reported to rise to the highest level since mid-2014, boosted optimism over the U.S. economy and sent the U.S. stock market higher.

    The pair USDJPY rocketed 0.74 percent to trade 133.22 in North American trading session. This was the highest rate since May 16th. The greenback was supported strongly by data released by the Institute for Supply Management (ISM) which showed the gauge for domestic manufacturing activity advanced to 57.8 last month from May’s reading of 54.9.

    Spurred by the new orders index that rose to 63.5 in June from 59.5 a month earlier, the figure did not only top analysts’ forecast for an increase to just 55.2 but also marked the fastest growth pace in almost three years.

    Meanwhile, the so-called safe-haven currency lost its attraction as equity markets kicked off July trade on a positive note. Indeed, led by firm gains in the energy and financials sector which soared at least 1 percent, the S&P 500 index advanced nearly 0.6 percent. The Dow Jones Industrial Average index and the Nasdaq Composite Index added 0.7 percent and 0.4 percent, respectively.

    The New York Stock Exchange will be closed on Tuesday in the observation of the Independence Day.

    Trade suggestion

    Buy Stop at 113.300, Take profit at 113.800, Stop loss at 113.100

    ************************************************

    SILVER/

    From GMT 10:00 03/07/2017
    Till GMT 21:00 03/07/2017
    Sell at 16.500
    Take profit at 16.400
    Stop loss at 16.550

    *****************************************

    EUR/CAD

    From GMT 08:50 03/07/2017
    Till GMT 21:00 03/07/2017
    Sell at 1.47800
    Take profit at 1.47300
    Stop loss at 1.48000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #38070

    Daily Report on June 30, 2017

    Asian shares​ slumped on Friday, extending losses after dismal performances of European and U.S. markets. U.S. equities markets closed lower on Thursday, weighed down by a tumble in large-cap technology stocks which offset gains in banking and energy shares.​ At the close in NYSE, the Dow Jones Industrial Average dropped​ 0.78%, while the S&P 500 index​ shed​ 0.86%, and​ the NASDAQ Composite index declined​ 1.44%.

    Trading in the same bearish sentiment,​ the MSCI’s broadest index of Asia-Pacific shares outside Japan​ fell 0.7 percent. However, the benchmark index looked set to close​ the month 1.7 percent​ higher and the quarter 5.3 percent higher. Japan’s Nikkei tumbled 1.1 percent, paring its monthly gain to 1.8 percent while heading to a quarterly increase of 5.8 percent.

    The CSI 300 index lost​ 0.3 percent, while the Shanghai Composite slipped 0.2 percent even after China’s factories grew at the quickest pace in three months in June. Spurred by strong new orders, the official manufacturing Purchasing Managers’ Index (PMI) published by the National Bureau of Statistics edged higher to 51.7 in June from 51.2 in May. The index has surged for eleventh straight months.​

    Hong Kong’s Hang Seng index plunged by 1.1 percent while​ South Korea’s KOSPI​ index lost 0.45 percent.​ Australian shares​ also traded lower,​ dropping​ 1.35 percent.​ Meanwhile, the Australian dollar reached a three-month high after​ data on​ Chinese factory activity exceeded market expectations and​ firmness in oil prices.​ The Australian dollar rose more than​ 0.2 percent to as high as $0.7712 at one point, its strongest level since March.

    Technicals

    EURCAD

    EURCAD has been trapped in a shrinking trading range with lower highs and higher lows formed along the way. Under downward pressure exerted by two MAs, the pair is expected to break out of this range from above and may fall further to test a support at 1.48000. RSI index remained below 50, confirming the downtrend.​

    Trade suggestion

    Sell​ Stop at​ 1.48400, Take profit at​ 1.48000, Stop loss at​ 1.48600

    BRENT

    U.K. Brent crude prices​ gapped up on Friday and retested the previous session high at 47.900. The commodity is likely to trade higher, as indicated by rising RSI​ which has surged to as high as 66.42​ and ADX indices​ which has turned higher to 54.69.​ A resistance at 49.00 is within the sight.​

    Trade suggestion

    Buy Stop at​ 48.000, Take profit at​ 49.000, Stop loss at​ 47.500

    Natural Gas

    Natural gas futures prices retreated after having hit a firm resistance at 3.1100 and has fallen below both the short-term MA20 and a significant level at 38.2% Fibonacci retracement. A support at 2.9850 is within the sight with the RSI index plunging below 50, suggesting a strengthening bearish momentum.

    Trade suggestion

    Sell​ Stop at​ 3.0320, Take profit at​ 2.9850, Stop loss at​ 3.0550.

    COPPER

    Copper extended its upward rally on Friday following a gap up on Friday. The commodity price has been tracing an uptrend since June 21st​ which brought the price to the highest level since March 30th. The RSI index has jumped into the overbought market but the ADX kept rising with a widening gap between the +DI and –DI lines, which indicates further advances.

    Trade suggestion

    Buy Stop at​ 2.7050, Take profit at​ 2.7300, Stop loss at​ 2.6900

    GOLD

    As can be seen from the price chart, gold has been trading sideways in a range between a resistance at 1248.00 and a support at 1244.00 and has also been under downward pressure from two MAs hanging above the price action. RSI index is heading downwards, signaling further declines for the precious metal’s prices.

    Trade suggestion

    Sell​ Stop at​ 1244.00, Take profit at​ 1239.60, Stop loss at​ 1246.00

    ******************************************

    GBP/NZD

    From GMT 09:45 30/06/2017
    Till GMT 21:00 30/06/2017
    Sell at 1.77000
    Take profit at 1.76400
    Stop loss at 1.77300

    **************************************************

    EUR/JPY

    From GMT 16:05 30/06/2017
    Till GMT 21:00 30/06/2017
    Buy at 128.300
    Take profit at 128.800
    Stop loss at 128.100

    ********************************************

    Shares of Nike Jump Nearly 8% After Better-than-expected Earnings Report

    Shares of Nike Inc. jumped nearly 8 percent in after-hours trading on Thursday after the sportswear giant reported fourth-quarter earnings that beat expectations and announced a program to sell sneakers through Amazon.com Inc.

    Shares of Nike added 7.81% to trade around $57.32 after the closing bell as the company posted net income of $1.01 billion, or 60 cents per share, up from $846 million, or 49 cents per share that were recorded one year ago. The result was well above analysts’ forecast for earnings per share of 50 cents.

    Nike reported revenue of $8.7 billion which topped both last year’s $8.2 billion and economists’ expectation calling for revenue of $8.6 billion.

    Nike CEO Mark Parker on Thursday said that the company “a limited Nike product assortment” of footwear, apparel, and accessories would be sold on Amazon in an attempt to improve Nike’s presence on the e-commerce site.

    Trade suggestion

    Buy Stop at 57.35, Take profit at 58.00, Stop loss at 57.00

  • #38006

    Daily Report on June 28, 2017

    Asian shares were broadly lower on Wednesday, weighed down by losses in technology stocks. A slump in U.S. equities extended in Asian trading session, sending the MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.4 percent. Japan’s Nikkei share average slipped 0.3 percent.

    On Tuesday, the S&P 500 Index shed 0.8 percent – the most since May 17 while the NASDAQ Composite index lost 1.61% and the Dow Jones Industrial Average plunged by 0.46%. Shares of Alphabet were among top losers, shedding more than 2% after Google had been fined a record $2.7 billion by the EU for having violated antitrust rules. Shares of Facebook, Netflix, and Amazon closed more than 1.5% lower.

    Meanwhile, the dollar lost ground versus most of its rivals amidst rising concerns over Trump administration following through with tax cuts and fiscal stimulus steps after the healthcare bill faced resistance from some of Republican senators and failed to be passed on Tuesday. The dollar index, which measures the greenback against a basket of six major currencies, lost more than 0.1 percent at 96.35, after shedding about 1 percent on Tuesday.

    Crude oil futures prices extended their upward rally to a fifth session in a row, reversing higher from losses in early trade which came after a report by the American Petroleum Institute. The data which was released on Tuesday showed that U.S. crude inventories rose by 851,000 barrels in the week to June 23 to 509.5 million. By contrast, analysts expected a decrease of 2.6 million barrels.

    Technicals

    USDCHF

    Under downward pressure from two MAs which are hanging above the price action, the pair USDCHF nose-dived on Tuesday and extended its down moves on Wednesday. The pair did not only break a firm support at 0.96700 but also fell below the seven-month lows at 0.96128 logged early June. Further declines are expected with a surging ADX index and RSI index plunging into the oversold zone.

    Trade suggestion

    Sell Stop at 0.96000, Take profit at 0.95500, Stop loss at 0.96200

    EURGBP

    The pair EURGBP has been tracing an uptrend with the support from both long-term MA50 and short-term MA20 which are lingering below the price action. The pair is facing a strong resistance at 0.88600 where it had to give up its bull run to reverse lower on June 12th. However, this stance is expected to be crossed over as buyers are dominating in the market, as indicated by rising ADX and RSI indices.

    Trade suggestion

    Buy Stop at 0.88600, Take profit at 0.89000, Stop loss at 0.88400

    EURJPY

    Euro jumped to the highest level since early April, 2016 after having broken out of a slopping downward trading range and crossed over a significant level at 50.0% Fibonacci retracement. The pair is struggling at a resistance at 127.300 after sending the market into the overbought zone. Nonetheless, the uptrend is anticipated to be extended, as can be seen in the ADX chart, the gap between +DI and –DI lines is widening.

    Trade suggestion

    Buy Stop at 127.400, Take profit at 128.200, Stop loss at 127.000

    SP500

    Sp500 index fell out of an uptrend on Tuesday when it broke out of an upward trend line which connects higher lows. The U.S. stock benchmark index dropped below a couple of MAs and fell to as low as 2420.00 – a firm support that has forced the index to reverse higher three times since June 09th. In the event of continual downtrend, another support at 2405.00 is within the sight.

    Trade suggestion

    Sell Stop at 2418.00, Take profit at 2405.00, Stop loss at 1225.00

    DAX

    Germany’s DAX 30 suffered a sharp daily loss on Tuesday. Steep down moves liberated the price action out of a slopping upward trading range which contained higher highs and higher lows. The index’s price action broke the lower boundary from below and is heading towards a support at 12500.00. While RSI is pointing downwards, ADX index is edging higher, indicating a strengthening bearish force in the market.

    Trade suggestion

    Sell Stop at 12590.00, Take profit at 12500.00, Stop loss at 12630.00

    *****************************

    WTI Crude Oil Extends the Upward Rally to A Fifth Session Following EIA Data

    U.S. crude oil prices extended their upward rally to a fifth session in a row on Wednesday with advances coming after a weekly report that showed U.S. domestic crude supplies rose less than previously reported by the American Petroleum Institute.

    U.S. West Texas Intermediate crude for August delivery jumped more than 0.8 percent to trade around $44.60 per barrel on Wednesday after the U.S. Energy Information Administration published its official data that pointed to a rise of 100,000 barrels in U.S. crude inventories for the week ended June 23.

    Although the result defied forecasts for a decline of 3.25 million barrels, it came in well below the increase of 851,000 barrels reported by the American Petroleum Institute on Tuesday.

    Trade suggestion

    Buy Stop at 44.60, Take profit at 45.60, Stop loss at 44.10

    ***************************************

    Gold Rallies For A The Second Day Amidst A Slump in Stock Markets While Dollar Remains Weak

    Gold futures prices jumped a the second day on Wednesday amidst selloff in equity markets while the dollar remained weak against most of its peers after U.S. Senate Majority Leader Mitch McConnell delayed voting on a bill to repeal and replace Obamacare.

    Gold for August delivery added more than 0.5 percent to trade around $1,252.85 an ounce in Asian trading session as investors rushed into safe-assets after technology and health-care shares weighed down the overall performance in Wall Street and continued to drag down indices in most of Asian markets.

    On Tuesday, the S&P 500 Index shed 0.8 percent – the most since May 17 while the NASDAQ Composite index lost 1.61% and the Dow Jones Industrial Average plunged by 0.46%. Shares of Alphabet were among top losers, shedding more than 2% after Google had been fined a record $2.7 billion by the EU for having violated antitrust rules.

    Meanwhile, the dollar lost ground versus most of its rivals amidst rising concerns over Trump administration following through with tax cuts and fiscal stimulus steps after the healthcare bill faced resistance from some of Republican senators and failed to be passed on Tuesday.

    The dollar index, which measures the greenback against a basket of six major currencies, lost more than 0.1 percent at 96.35, after shedding about 1 percent on Tuesday. A weak dollar tends to make gold more affordable to buyers using other currencies.

    Trade suggestion

    Buy Stop at 1253.00, Take profit at 1258.00, Stop loss at 1251.00

    **********************************

    CAD/JPY

    From GMT 11:45 28/06/2017
    Till GMT 21:00 28/06/2017

    Buy at 85.700
    Take profit at 86.100
    Stop loss at 85.500

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37970

    Daily Report on June 27, 2017

    Asian shares were mostly higher on Tuesday with Japanese stocks spurred by a weaker yen. MSCI’s broadest index of Asia-Pacific shares outside Japan stood little changed but Japanese stocks edged towards two-year highs on Tuesday. While Japan’s Topix was up for a third day, Japan’s benchmark Nikkei added 0.3 percent as the yen held on losses versus the U.S. dollar.

    With exporters benefiting from dollar strength, Japan’s Topix climbed 0.5 percent, poised for the highest closing level since August 2015. Singapore’s Straits Times Index jumped 0.4 percent and South Korea’s Kospi gained 0.3 percent. Hong Kong’s Hang Seng was also on a rise, adding 0.1 percent. By contrast, Australia’s S&P/ASX 200 Index slipped 0.1 percent and the Shanghai Composite Index retreated 0.1 percent.

    Crude oil futures extended gains to a fourth consecutive session on Tuesday. Indeed, while U.S. West Texas Intermediate (WTI) crude futures edged 0.3 percent higher to trade at $43.50 per barrel, Brent crude futures also advanced 0.3 percent to trade around $45.97 per barrel in Asian trading session.

    Later in the day, Federal Reserve Chair Janet Yellen is scheduled to make public appearance at the British Academy’s 2017 President’s Lecture in London while the European Central Bank’s forum will continue in Portugal. Clues on changes in policies of major central banks are highly awaited by investors.

    Technicals

    AUDJPY

    Australian dollar extended its rally versus the Japanese Yen to a third trading day in a row. Recent up moves not only brought the pair above the 23.6% Fibonacci retracement but also sent the price to a two-and-a-half-month high at 85.050 logged on June 20th. Both RSI and ADX indices are witnessing sharp up moves, indicating a strong bullish momentum in the market.

    Trade suggestion

    Buy Stop at 85.050, Take profit at 85.500, Stop loss at 84.800

    NZDUSD

    As supported by a couple of MAs which are moving below the price action, the pair NZDUSD continued to trace an uptrend which has been dominating the market for four trading sessions in a row. The pair retested a high at 0.73050 and is likely to soar to the highest level since February 07th with both RSI and ADX indices on a rise.

    Trade suggestion

    Buy Stop at 0.73100, Take profit at 0.73500, Stop loss at 0.72900

    Natural Gas

    After a wide gap up in early trade on Monday, natural gas price fell into a correction but soon sustained its bullish momentum to jump to as high as 38.2% Fibonacci retracement and send the market into the overbought. This level proved to be a firm resistance where the price had to reverse lower. However, the price is expected to edge higher to test another firm resistance at 3.0800.

    Trade suggestion

    Buy Stop at 3.0400, Take profit at 3.0800, Stop loss at 3.0200

    COPPER

    As can be seen from the price chart, copper has been trading sideways as the price fell into a consolidation after a sharp rise which helped the metal to test a significant level at 23.6% Fib. The price, however, has still been supported by the short-term MA20 and is anticipated to test the 23.6% Fib level again.

    Trade suggestion

    Buy Stop at 1.6200, Take profit at 1.6500, Stop loss at 1.6000

    DAX 30 Index

    Germany’s DAX 30 index once again had to retreat from a firm resistance at 12840.00 and is struggling with a couple of MAs. RSI index has fallen below 50, suggesting that the market has entered the bearish territory. Further declines may cause the stock benchmark index to retest the lower boundary.

    Trade suggestion

    Sell Stop at 12750.00, Take profit at 12700.00, Stop loss at 12775.00

    ******************************************

    Canadian Dollar Hits Two-month Highs Versus the Greenback as Crude Oil Jumps

    Canadian dollar shot versus its American counterpart on Tuesday amidst rising crude oil prices while the greenback fell broadly against most of its peers, especially the Euro.

    The commodity-linked currency Canadian dollar jumped to a two-week high at C$1.31850 per dollar, adding more than 0.4 percent on Tuesday as crude oil futures prices were on track for its fourth gain in a row. Indeed, while August West Texas Intermediate crude soared 2.3 percent, the Brent oil for August delivery climbed 2.6 percent in North American trading session.

    The advance came on the back of forecasts anticipating that U.S. crude supplies would witness a weekly decline due to weather factors. The American Petroleum Institute is due to release its estimate for U.S. inventories later in the day while the U.S. Energy Information Administration is scheduled to publish the official data on Wednesday.

    While the Loonie was supported by gains in crude oil prices, the dollar lost ground against most of its rivals. The Dollar Index, which measures of the strength of the greenback against a basket of six major rivals, shed more than 0.6% with the euro holding the largest weighting in the gauge.

    Trade suggestion

    Sell Stop at 1.31800, Take profit at 1.31400, Stop loss at 1.32000

    ***************************************************

    Euro Jumps to Two-week Highs Versus Dollar Following Draghi’s Speech

    The Euro experienced a sharp rise versus its American counterpart on Tuesday after European Central Bank President Mario Draghi claimed that growth is above trend and well distributed across the euro area.

    The currency pair EURUSD jumped steeply more than 0.6 percent on Tuesday to reach a high of 1.12500 – the highest level since June 14th as the Euro was pushed higher by Draghi’s speech.

    Speaking at the ECB’s central banking forum in Portugal, the ECB President argued that the central bank’s stimulus policies with negative interest rates had helped create jobs and reduce inequality in the euro zone, especially in Southern European countries where youth unemployment rates reach up to 45%.

    Draghi also showed optimism over the euro zone’s economy, saying that there are clear signs of a “strengthening and broadening” recovery and those deflationary factors, which were weighing on the path of inflation, will soon be replaced by inflationary ones.

    Later in the day, Federal Reserve Chair Janet Yellen is scheduled to make public appearance at the British Academy’s 2017 President’s Lecture in London. Traders will be looking for clues on changes in policy of the U.S. central bank given Yellen’s opinion on the U.S. economy after a recent batch of weak economic reports.

    Besides Fed Chair Yellen, a pair of Fed policymakers are due to make public appearances on Tuesday which are Philadelphia Fed President Patrick Harker and Minneapolis Fed Chief Neel Kashkari.

    Trade suggestion

    Buy Stop at 1.12500, Take profit at 1.12900, Stop loss at 1.12300

    *******************************************

    GBP/JPY
    FromGMT 14:35 27/06/2017
    TillGMT 21:00 27/06/2017
    Buy 143.100
    Buy at 143.100
    Take profit at 143.900
    Stop loss at 142.700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37932

    FTSE 100 Index Soars Thanks to A Rebound in Oil Prices and Weak Sterling

    U.K. shares jumped steeply on Monday on the back of a rebound in oil prices which boosted stocks of energy companies and mining companies higher while British Pound reversed lower against most of its peers.

    The FTSE 100 index added more than 0.6 percent on the first trading session of the week to trade around 7475.00 after having closed at its lowest level since June 15 on Friday.

    Shares of energy companies led the overall performance as crude oil prices continued to rebound after a recent selloff. Crude oil futures benchmarks added more than 1 percent, spurring gains in shares of Royal Dutch Shell PLC and BP., which gained 0.5% each.

    Shares of mining companies also traded in positive territory. Indeed, equities of Glencore PLC soared 1.07% while those of Rio Tinto PLC and BHP Billiton PLC jumped 0.84% and 1.01%, respectively.

    Meanwhile, Sterling lost nearly 0.1 percent after having climbed to one-week high in early trade. According to market sources, investors were waiting for the meeting between the leader of Northern Ireland’s Democratic Unionist Party (DUP), Arlene Foster, and Theresa May, which is expected to help the Prime Minister to form a government with the support of the DUP.

    Trade suggestion

    Buy Stop at 7475.00, Take profit at 7530.00, Stop loss at 7450.00

    **********************************

    EUR/NZD

    From GMT 15:50 26/06/2017
    Till GMT 21:00 26/06/2017
    Sell at 1.53250
    Take profit at 1.52200
    Stop loss at 1.53750

    **********************************

    NZD/JPY

    From GMT 16:40 26/06/2017
    Till GMT 21:00 26/06/2017
    Buy at 81.500
    Take profit at 81.900
    Stop loss at 81.300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37931

    Daily Report on June 26, 2017

    Asian shares advanced on Monday thanks to the fact ​ that technology stocks continued to edge higher while oil climbed for a third straight day in a row after rebounding from a bear market last week. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 percent with technology shares experiencing the biggest advance in the index.

    While Japan’s Nikkei index and Topix index both​ rose 0.1 percent, South Korea’s Kospi jumped 0.4 percent and Australia’s S&P/ASX 200 Index climbed less than 0.1 percent. Hong Kong’s Hang Seng Index​ was​ also​ on a rise, jumping 0.4 percent. However, Hang Seng China Enterprises Index and Shanghai Composite Index climbed even more, gaining 0.7 percent and 0.5 percent, respectively.

    Markets in India, Malaysia, Indonesia, Philippines, Singapore and Bangladesh are closed​ on​ Monday for​ holidays to celebrate the end of Ramadan.

    The U.S. dollar remained weak against its major peers on Monday, weighed​ down by fading expectations for the Federal Reserve to raise interest rates higher in the second half of this year.​ The U.S. dollar index, which tracks the strength of the greenback against a basket of six major currencies, was a fraction lower on Monday after having shed 0.4% in the previous session.

    Crude oil futures prices jumped more than 1 percent in early trade as investors covered short positions after oil dipped into the bear market last week. While Brent crude futures added 1.1 percent to trade at $46.04 per barrel, U.S. West Texas Intermediate (WTI) crude futures gained 1.0 percent, at $43.45 per barrel.​

    However, concerns over a global supply glut will persist due to another rise in U.S. drilling activity. According to data from energy services firm Baker Hughes Inc. late Friday, U.S. energy firms added 11 oil rigs in the week to June 23, bringing the total count up to 758, the most since April 2014.

    Technicals​

    GBPUSD

    GBPUSD fell into a consolidation after a small gap up on Monday. The currency pair sustained its bullish momentum to trade above a couple of MAs which it crossed​ over last Friday. Although ADX retreated, RSI is still at high level, indicating a dominating bull in the market. A resistance at 1.28000 is expected to be tested.

    Trade suggestion

    Buy Stop at​ 1.27500, Take profit at​ 1.28000, Stop loss at​ 1.27300

    GOLD

    Gold reversed lower from as high as $1258.00 an ounce – a strong resistance at which the precious metal had to retreat on June 23rd. The price has also dropped below both a firm support at 23.6% Fibonacci level and a dynamic support at the short-term MA20. Gold is struggling at the long-term MA50. However, further declines are expected as RSI has edged down to as low as 45.19 while ADX is heading higher with a widening gap between the –DI and +DI lines.​

    Trade suggestion

    Sell​ Stop at​ 1253.00, Take profit at​ 1248.00, Stop loss at​ 1255.00

    Natural Gas

    Natural gas futures prices witnessed a sharp gap up on Monday which brought the price to the highest level since mid-June. The price action has also broken out of not only a period of moving sideways above a support at 2.8830 but also a couple of MAs. Both RSI and ADX are rising, signaling further advances. A resistance at 38.2% Fibonacci retracement is within the sight.

    Trade suggestion

    Buy Stop at​ 2.9950, Take profit at​ 3.0550, Stop loss at​ 2.9650

    NASDAQ 100 Index

    U.S. NASDAQ index has surpassed a firm resistance at 5800.00. This level not only forced the price to reverse lower on June 22nd​ but also pushed the index into a consolidation in late May. With support from two MAs which are lingering below the price action, the stock index is expected to edge higher. Rising ADX and RSI indices are confirming the uptrend.

    Trade suggestion

    Buy Stop at​ 5820.00, Take profit at​ 5880.00, Stop loss at​ 5790.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37885

    GBP/USD signal by Capital Street FX

    From GMT 08:20 23/06/2017
    Till GMT 21:00 23/06/2017
    Buy at 1.27400
    Take profit at 1.28000
    Stop loss at 1.27100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37884

    Loonie Holds on Gains Versus Dollar As Oil Rebounds From 10-month Lows

    Canadian dollar continued to gain ground versus its American counterpart on Friday after having surged sharply in the previous session. While the greenback dipped to a four-day low against major currencies, the commodity-linked currency, the loonie, held on gains as crude price rebounded.

    The pair USDCAD dipped 0.1 percent to trade around 1.3222 in the last session of the week after losing 0.75 percent on Thursday, paring most of its weekly gain.

    The U.S. dollar remained weak against most of its rivals ahead of a handful of Fed policymakers that are scheduled to make public appearances later in the day. St. Louis Fed President James Bullard, Cleveland Fed President Loretta Mester and Fed Governor Powell are scheduled to deliver comments on Friday with investors awaiting clues on the likelihood of higher interest rates in the coming months.

    The dollar index – which measures the greenback against a basket of six major currencies – lost more than 0.2 percent to trade around 97.33 in European trading session. Next week, U.S. calendar features data on June consumer confidence indicator, pending home sales, crude oil inventories, revised first quarter GDP and the PCE price index.

    Meanwhile, crude oil futures prices scaled back from 10-month lows which they hit on Wednesday, adding strength to the Canadian dollar which has already been spurred by upbeat data on April retail sales. Brent crude futures added 0.51 percent while U.S. West Texas Intermediate (WTI) crude futures jumped 0.54 percent, at $42.80 per barrel.

    Trade suggestion

    Sell Stop at 1.32100, Take profit at 1.32700, Stop loss at 1.32300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37883

    Daily Report on June 23, 2017

    Asian shares were flat on Friday after U.S. stocks closed mixed on yesterday’s session. A surge came to health care stocks on Wall Street as investors were waiting for the unveiling of Senate’s health care bill, which aims to repeal and replace Obamacare.​ At the close in NYSE,​ while the Dow Jones Industrial Average and the S&P 500 index fell around 0.05%, the Nasdaq Composite closed​ up 0.04%.

    In Asian trading session, the MSCI’s broadest index of Asia-Pacific shares outside Japan was flat but looked set for a weekly gain of 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi index were both also flat in the morning session while​ Japan’s Topix fell less than 0.1 percent. By contrast, the Hang Seng China Enterprises Index of mainland firms trading in Hong Kong​ and the Hang Seng Index added​ 0.6 percent​ and​ 0.2 percent,​ respectively.

    U.S. Senate Republicans on Thursday unveiled a 142-page proposal which aims to roll back former President Barack Obama’s signature healthcare law by scaling back aid to the poor and killing a tax on the wealthy. While Democrats are united in opposition, four conservative lawmakers said they could not support the Obamacare replacement bill in its current form.

    Elsewhere, according to the Markit,​ Japanese manufacturing activity slowed​ in June due to the fact that​ new orders grew at the slowest pace in seven months. The Markit/Nikkei Flash Japan Manufacturing Purchasing Managers Index (PMI) was reported to drop to 52.0 in June from a final 53.1 in May. Although the index remained above 50, which indicates an expansion, for the 10th consecutive month, a weak figure showed a sign of a slight weakening in domestic demand.



    Technicals

    GBPAUD

    As can be seen from the price chart, with the support from two MAs which are moving below the price action, the pair GBPAUD has escaped from a slopping downward trading range. The pair broke out of the upper boundary from below and is heading towards a resistance at 1.68700. Further advances are expected as RSI is pointing upward, indicating a dominating bull in the market.

    Trade suggestion

    Buy Stop at​ 1.68300, Take profit at​ 1.68700, Stop loss at​ 1.68100

    USDCHF

    USDCHF has not only fallen below the long-term MA50 but also broken out of an upward slopping trading range which tracks higher highs and higher lows. The breakout signals a reversal into a downtrend. Although ADX is rising while RSI is heading lower, indicating a strengthening bearish force in the market, a firm support at 0.9700 is within the sight.

    Trade suggestion

    Sell​ Stop at​ 0.97000, Take profit at​ 0.96700, Stop loss at​ 0.97150

    SILVER

    Silver continued to extend its upbeat moves​ after breaking out a period of moving sideways around a significant level at 61.8% Fibonacci level. The metal has penetrated the short-term MA20 with the support from the long-term MA50. RSI is edging higher. Silver is expected to test a resistance at 16.800.

    Trade suggestion

    Buy Stop at​ 16.650, Take profit at​ 16.800, Stop loss at​ 16.580

    FTSE 100

    U.K. FTSE 100 index has been tracing a downtrend after reversing lower from a strong resistance at 7545.00. In general, the stock benchmark index has been trapped in a trading range between 7390.00 and​ 7545.00. Under downward pressure from two MAs that are hanging above the price action, the index may retest the lower boundary.

    Trade suggestion

    Sell​ Stop at​ 7420.00, Take profit at​ 7390.00, Stop loss at​ 7435.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #37845

    Canadian Dollar Rallies Verus the Greenback after April Retail Sales Beat Forecast

    The Canadian dollar rallied against its American counterpart in North American trading on Thursday after a report showed retail sales in the country grew at a faster pace than expected in April.

    The currency pair USDCAD dropped more than 0.8 percent to trade around C$1.320 per dollar, reversing lower after heading upwards for three days in a row. The loonie jumped sharply higher after Statistics Canada on Thursday reported that retail sales rose 0.8 per cent in April compared to the previous month. The result topped analysts’ expectations for a 0.2 percent gain on a monthly basis and also beat the 0.5 per cent advance recorded in March.

    Core retail sales, which exclude auto and car parts related sales, were reported to soared 1.5 percent during the period. Upbeat April’s reading not only marked a reversal into an uptrend after a drop of 0.1 percent in March but also helped bolster optimism over the economy and strengthen the case of the Bank of Canada raising interest rates.

    Trade suggestion

    Sell Stop at 1.32200, Take profit at 1.32700, Stop loss at 1.32400

    *********************************************************

    Shares of Oracle Take Off 10% After Upbeat Fiscal Q4 Earnings Report and Rosy Outlook for 2018

    Shares of Oracle Corp. jumped sharply more than 10 percent in after-hours trading on Wednesday after the Redwood Shores, California-based company reported its fiscal fourth-quarter earnings that beat expectations.

    For the final quarter in its 2017 fiscal year, the computer technology corporation posted net income of $3.23 billion, or 76 cents a share. Adjusted for one-time items, the software giant reported profit of 89 cents a share on sales of $10.89 billion, which topped analysts’ forecast for earnings of 78 cents a share on revenue of $10.46 billion.

    Shares of Oracle soared 10.3 percent to trade at $51.10 per share after closing the regular trading session 1.07 percent higher. After two years witnessing declines in profit and revenue, Oracle posted full-year revenue growth of 1.8% and profit growth of 4.9%.

    Growth in the current fiscal quarter, which began June 1, is anticipated to jump even more which may boost full-year sales to growth at the pace from 4% to 6%.

    Trade suggestion

    Buy Stop at 51.10, Take profit at 52.00, Stop loss at 50.60

    **********************************************

    CAD/JPY
    FromGMT 16:20 22/06/2017
    TillGMT 21:00 22/06/2017
    Buy 84.200
    Buy at 84.200
    Take profit at 84.600
    Stop loss at 84.000

  • #37844


    Daily Report on June 22, 2017

    Asian shares advanced on Thursday after a Wednesday’s declines. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 percent. Australia’s S&P/ASX 200 Index jumped 0.6 percent. The index tumbled 1.6 percent on Wednesday to erase its gain for the year. While Japan’s Topix was little changed, Japan’s Nikkei fell 0.1 percent.

    South Korea’s Kospi index climbed 0.2 percent. The Hong Kong’s Hang Seng index and the Shanghai Composite Index both edged higher, adding 0.2 percent and 0.7 percent, respectively. The CSI 300 Index, which includes 222 China A-share stocks slated to be added into the MSCI index from May 2018, extended gains after jumping 1.2 percent on Wednesday to the highest close since December 2015.

    The Reserve Bank of New Zealand on Thursday decided to leave interest rates at a record low 1.75 percent as widely expected. The New Zealand dollar edged higher after Graeme Wheeler, the central bank’s governor, said that headline inflation was expected to rise to the midpoint of the bank’s target band in the medium term, given wage and non-tradable inflation that may increase gradually.

    Crude oil futures prices struggled for direction on Thursday. West Texas oil shed 0.2 percent to $42.44 a barrel after climbing as much as 0.5 percent earlier. Brent crude plunged below $45 per barrel. Both international benchmarks lost more than 2.3 percent in the previous session.

    Technicals

    NZDUSD

    NZDUSD fluctuated widely in early trade on Thursday and has broken out of a shrinking trading range with lower highs and higher lows formed along the way. The price action also crossed over two MAs from below, suggesting an emerging bullish force in the market. RSI is edging higher which signals upcoming upbeat moves.

    Trade suggestion

    Buy Stop at 0.72570, Take profit at 0.72970, Stop loss at 0.72370

    EURGBP

    EURGBP has been supported by two moving averages that are lingering below the price action. The short-term MA20 has penetrated the long-term MA50 from below, which indicates a strengthening uptrend. Two indices which are RSI and ADX are rising, signaling further up moves.

    Trade suggestion

    Buy Stop at 0.88200, Take profit at 0.88600, Stop loss at 0.88000

    BRENT

    Brent crude price has been under downward pressure exerted from two MAs, which are hanging above the price action, since the pair fell below these two stances on May 25th. The price entered a period of correction after previous sharp down moves which sent the market into the oversold zone. With sellers dominating the market, Brent crude price is expected to test a low at 43.550 – the lowest level since November 14th, 2016.

    Trade suggestion

    Sell Stop at 44.550, Take profit at 43.550, Stop loss at 45.000

    NASDAQ 100

    U.S. NASDAQ 100 index extended gains after having penetrated two MAs from below, sustaining its bullish momentum. The stock benchmark index is struggling at a significant resistance at 5800.00 – where it fell into a consolidation three weeks ago. Both ADX and RSI are on a rise, not to mention a widening gap between +DI and –DI lines, signaling further advances.

    Trade suggestion

    Buy Stop at 5800.00, Take profit at 5840.00, Stop loss at 5780.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37803

    Larger-Than-Expected Decline in U.S. Supplies Fails To Support WTI Crude Futures

    U.S. crude futures price reversed lower after having briefly spiked following U.S. government data that showed domestic crude supplies fell more than expected.

    August West Texas Intermediate crude lost around 0.1 percent in North American trading session after having jumped to as high as $44.170 per barrel. Data released by the U.S. Energy Information Administration on Wednesday showed U.S. crude stockpiles fell by 2.5 million barrels for the week ended June 16, topping analysts’ expectation calling for a decline of 2 million barrels.

    However, EIA’s data failed to support the price due to rising concerns over a renewed glut in global supply. U.S. explorers have been boosted the number of rigs drilling for oil. Indeed, the U.S. oil rig count was reported to continue to rise, up by 6 last week.

    The rise extended the upward rally to a 22nd in a row, adding concerns over high global supplies despite an OPEC-led initiative to cut production to tighten the market.

    Trade suggestion

    Sell Stop at 43.300, Take profit at 42.700, Stop loss at 43.600

    *************************************************

    Shares of Adobe Systems Jump to All-time Record High After Upbeat Q2 Earnings Report

    Shares of Adobe Systems Inc. jumped more than 4 percent ahead of the opening bell on Wednesday after the company reported last quarter’s earnings results that beat expectation late Tuesday.

    Shares of the American multinational computer software company jumped to all-time record high of $147.00 per shares in pre-market trading on Wednesday after having closed the regular session with a 0.4% increase at $140.91 on Tuesday.

    Adobe Systems reported earnings per share (EPS) of $1.02 on sales of $1.77 billion for its fiscal second quarter, which was above the Wall Street consensus estimate of $0.95 for EPS and of $1.73 billion for sales. Revenues rose 26.7% from the same quarter last year.

    The San Jose, CA-based software giant claimed net income of $374.4 million, or 75 cents a share for the last quarter. Adobe forecast EPS of around $1.00 and revenues of $1.815 for the current quarter, which topped Wall Street estimates of $0.97 for Q3 EPS and $1.8 billion for revenues.

    Trade suggestion

    Buy Stop at 147.000, Take profit at 148.000, Stop loss at 146.500

    ********************************************************

    GBP/USD signal by Capital Street FX

    From GMT 14:50 21/06/2017
    Till GMT 21:00 21/06/2017

    Sell at 1.26600
    Take profit at 1.26000
    Stop loss at 1.26900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37802


    Daily Report on June 21, 2017

    Asian shares declined on Wednesday with Australia’s benchmark stocks index leading losses in the region as energy shares tumbled. Australia’s S&P/ASX 200 Index plunged by 1.5 percent, almost erasing its gains for the year as the overall performance was weighed down by shares of energy sector that dropped more than 2 percent. Indeed, shares of BHP Billiton Ltd. and Rio Tinto Ltd. shed at least 2.8 percent.

    Whereas, a strengthening Yen sent Japanese’ shares lower as Japan’s Topix declined 0.3 percent, after climbing for three days to the highest level since August 2015. South Korea’s Kospi index also found itself trading in the read, losing 0.6 percent. On Tuesday, U.S. stocks retreated from all-time highs to fall the most in a month on the back of tumbling crude oil futures prices.

    Following losses in Wall Street which witnessed the S&P 500 Index lose 0.7 percent for its biggest decline since May 17, Hong Kong’s Hang Seng lost 0.6 percent and the Hang Seng China Enterprises Index fell 0.5 percent.

    By contrast, the Shanghai Composite rose 0.2 percent after U.S. index provider MSCI said on Wednesday that it would add a selection of China’s so-called “A” shares to its Emerging Markets Index. After a three-year campaign for inclusion in a leading emerging markets benchmark, 222 China A-share stocks will be added into the MSCI index – a leading emerging markets benchmark – from May 2018.


    Technicals

    EURJPY

    EURJPY failed to break out of its current trading range yesterday. The currency pair crossed over the upper boundary but failed to sustain its bullish force. The price is struggling around the long-term MA50 after having penetrated the short-term MA20. RSI has fallen below 50, suggesting a strengthening bearish momentum. A support at 123.200 is within the sight.

    Trade suggestion

    Sell Stop at 123.700, Take profit at 123.200, Stop loss at 123.900

    GBPUSD

    GBPUSD on Tuesday dropped below a firm support at 1.26400 – the level it had to reverse higher on June 9 and June 13. The pair has also been under downward pressure from two MAs hanging above the price action. While RSI is lingering at as low as 28.00, ADX is heading upwards, signaling further down moves.

    Trade suggestion

    Sell Stop at 1.26000, Take profit at 1.25600, Stop loss at 1.26200

    CAC 40 Index

    CAC 40 index gapped down on Wednesday and brought its price action back below a couple of moving averages. RSI has fallen into the bearish zone while the –DI line crossed over the +DI line from below, suggesting a strong downtrend. The stock benchmark index is expected to test a support at 5175.00.

    Trade suggestion

    Sell Stop at 5230.00, Take profit at 5175.00, Stop loss at 5250.00

    DAX 30

    Germany’s DAX 30 index continued to be trapped in a slopping upward trading range with higher highs and higher lows formed along the way. The index gapped up on Tuesday but failed to maintain its bullish momentum and had to reverse lower after hitting the upper boundary. DAX index fell below two MAs on Wednesday, heading towards the lower boundary.

    Trade suggestion

    Sell Stop at 12720.00, Take profit at 12640.00, Stop loss at 12750.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37748

    Japanese Yen Tumbles to One-month Lows Versus Dollar after Dudley’s Hawkish Comments

    Japanese Yen plunged to nearly one-month lows on Tuesday as U.S. dollar was broadly stronger versus most of its peers. Meanwhile, Asian shares advances with Japan’s Nikkei rising more than 1 percent to a near two-year high on Tuesday, causing investors to pour into risky assets instead of playing safe with the safe-haven currency like Yen.

    Encouraged by rebound in U.S. hi-tech shares which helped the Nasdaq 100 Index jumped the most since November, equity rally extended to Asia. The Yen dropped more than 0.2 percent against its American counterpart to trade around 111.700 after hitting 111.775 at one point – the lowest level since May 26th.

    Hawkish comments from a Federal Reserve official also helped ease concerns over the strength of the world’s largest economy. Speaking on Monday, New York Fed President William Dudley said that tightening in the labour market that would boost wages should help drive up inflation.

    Dudley’s comments did not only reinforce the message from last week’s Fed meeting but also supported expectations for the U.S. central bank to keep raising interest rates in the coming months.

    Trade suggestion

    Buy Stop at 111.700, Take profit at 112.100, Stop loss at 111.500

    ************************************************

    GBP/NZD signal by Capital Street FX

    From GMT 09:10 20/06/2017
    Till GMT 21:00 20/06/2017
    Sell at 1.74800
    Take profit at 1.74300
    Stop loss at 1.75000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37747


    Daily Report on June 20, 2017

    Encouraged by rebound in U.S. hi-tech shares which helped the Nasdaq 100 Index jump​ the most since November, equity rally extended to Asia. The Yen dropped more than 0.2 percent against its American counterpart to trade around 111.700​ after hitting 111.775 at one point​ -​ the lowest​ level since May 26th.

    Asian shares advances with Japan’s Nikkei rising more than 1 percent to a near two-year high on Tuesday, causing investors to pour into risky assets instead of playing safe with the safe-haven currency like Yen. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed on Tuesday​ as gains in high-tech firms​ were​ offset by a decline in Australian shares.

    Australia’s S&P/ASX 200 Index shed 0.4 percent as shares of the country’s largest banks retreated following ratings downgrades from Moody’s Investors Service. Hong Kong’s Hang Seng Index reversed lower after an earlier gain of 0.5 percent. The Shanghai Composite Index edged up less than 0.1 percent.

    Hawkish comments from a Federal Reserve official also helped ease concerns over the strength of the world’s largest economy. Speaking on Monday, New York Fed President William Dudley said that tightening in the labour market that would boost wages should help drive up inflation.​ Dudley’s comments did not only reinforce the message from last week’s Fed meeting but also supported expectations for the U.S. central bank to keep raising interest rates in the coming months.

    Technicals

    EURJPY

    EURJPY has broken out of a slopping downward trend line that connects lower highs and has acted as a resistance since May 25th. The pair has moved sideways to higher since yesterday and helped boost the RSI index to as high as 65.79, which indicates a firm uptrend in the market. ADX index is also rising. A resistance at 50.0% Fibonacci level is within the sight.

    Trade suggestion

    Buy Stop at​ 124.600, Take profit at​ 125.100, Stop loss at​ 124.400

    GBPAUD

    After a wide gap down on June 09th, the pair GBPAUD fell into a slopping downward trading range with lower highs and lower lows formed along the way. The pair has also been under downward pressure from two MAs that are hanging above the price action which may send the pair​ lower to test a two-month low​ at 1.66800.

    Trade suggestion

    Sell​ Stop at​ 1.67400, Take profit at​ 1.66800, Stop loss at​ 1.67700

    EURNZD

    EURNZD has been tracing a downtrend since May 22nd​ which has brought the pair to two-month lows at around 1.53800. Under downward pressure from two MAs which are depressing the price action, the currency pair is anticipated to trade lower with a support at 1.53400 within the sight.

    Trade suggestion

    Sell​ Stop at​ 1.53800, Take profit at​ 1.53400, Stop loss at​ 1.54000

    NASDAQ 100

    NASDAQ 100 index closed​ at 5772.50 on Monday, retesting the highest level since June 14th. The price action crossed over the long-term MA50 from below, suggesting a strong uptrend even though the index fell into a consolidation following previously sharp up moves. A resistance at 5816.00 is likely to be tested.​

    Trade suggestion

    Buy Stop at​ 5776.00, Take profit at​ 5816.00, Stop loss at​ 5756.00

    CAC 40 Index

    France’s CAC 40 index has soared above both short-term and long-term MAs after a gap up on Monday. The stock benchmark index is testing the level 5321.70 again after having to reverse lower at this stance twice since June 08th.​ With RSI and ADX indicators heading upwards, CAC 40 index is expected to test a firm resistance at 5370.00,

    Trade suggestion

    Buy Stop at​ 5325.00, Take profit at​ 5370.00, Stop loss at​ 5305.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37710

    Global Shares Advance, Dow Hits Record, Gold Hovers Near One-month Lows

    Gold futures prices traded lower on Monday as stock markets in the U.S. followed strength across global equities which witnessed gains in European and Asian benchmarks.

    Gold futures for August delivery dropped 0.5 percent to trade around $1250.00 per ounce – hovering near one-month lows recorded last Friday. The precious metal extended its downward rally to the fourth day in a row and experienced losses in eight out of the last nine sessions.

    All three major U.S. stock benchmarks soared on Monday with the Dow hitting a record as technology shares rebounded from a recent bout of sharp weakness. The Dow Jones Industrial Average jumped nearly 0.5 percent, hitting an all-time high of 21,490.00. The S&P 500 SPX jumped nearly 0.7 percent while the the Nasdaq Composite Index edged more than 1 percent higher.

    Trade suggestion

    Sell Stop at 1248.00, Take profit at 1243.00, Stop loss at 1250.00

    ********************************************

    Led by Gains in Commodity and Retail Shares, FTSE 100 Trades Higher

    U.K. shares climbed on Monday with broad-based gains led by commodity shares and retailers. The stock benchmark index FTSE 100 added more than 0.6 percent after hitting an intra-day high at 7527.95 as gains were encountered by a strong British Pound.

    All sectors gained on London Stock Exchange, led by oil and gas and consumer-goods shares. Miners Anglo American PLC and Rio Tinto PLC topped the market. While the former jumped 1.61 percent, the latter moved up 1.4%.

    Retail shares recovered after a selloff in the previous session. Shares of J Sainsbury PLC and Marks & Spencer Group PLC jumped around 2 percent each.

    The British pound held on gains on Monday. Investors are eagerly awaiting the start of Brexit negotiations between Britain and the European Union in Brussels on Monday, kicking off a two-year divorce process due to end by March 2019. Key subjects to be negotiated include how the U.K. will trade with the EU once it leaves the bloc and the status of EU nationals and Britons living elsewhere in the EU.

    Trade suggestion

    Buy Stop at 7515.00, Take profit at 7545.00, Stop loss at 7500.00

    *********************************************

    USD/JPY signal by Capital Street FX
    From GMT 13:30 19/06/2017
    Till GMT 21:00 19/06/2017
    Buy at 111.300
    Take profit at 111.700
    Stop loss at 111.100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37709

    Daily Report on June 19, 2017

    Asian shares rose on Monday with Japanese equities supported by a weaker Yen. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.5 percent while Japan’s Nikkei jumped 0.6 percent. The yen declined 0.1 percent versus the dollar after a report published by the Ministry of Finance showed that the country’s trade balance fell unexpectedly last month.

    According to the data released earlier on Monday, Japan’s trade balance fell to a seasonally adjusted 0.13T in May from 0.16T in April. As stronger-than-expected imports overpowered the continued growth in exports, the result missed analysts’ expectation calling for a rise to 0.35T last month.

    Australia’s S&P/ASX 200 Index climbed 0.5 percent and South Korea’s Kospi index gained 0.6 percent while Chinese shares jumped 0.55 percent. Hong Kong’s Hang Seng advanced 0.85 percent. Investors were awaiting a decision from index compiler Morgan Stanley Capital International, or MSCI, which will be announced after markets close in New York on Tuesday, on whether to include Chinese-listed stocks, or so-called A-shares, in its widely tracked Emerging Markets Index.

    Crude oil retreated on Monday, hovering near the lowest level since November on the back of a continuing expansion in U.S. drilling. The U.S. oil rig count was reported to continue to rise, up by 6 last week. The rise extended the upward rally to a 22nd in a row, adding concerns over high global supplies despite an OPEC-led initiative to cut production to tighten the market.

    Technicals

    GOLD

    Gold continued to move sideways below a resistance at 23.6% Fibonacci retracement on Monday. Under downward pressure from two MAs which are hanging above the price action, gold not only failed to break out of the Fib. level but also appears to trade lower. A support at 1246.00 is within the sight.

    Trade suggestion

    Sell Stop at 1251.00, Take profit at 1246.00, Stop loss at 1253.00

    COPPER

    Copper’s price action has crossed over a couple of MAs for the first time since it dropped below these two stances last Monday. A reversal into an uptrend is expected as the RSI index has entered the bullish zone and has surged to as high as 60.3475. The metal’s price is expected to test a resistance at 2.6000.

    Trade suggestion

    Buy Stop at 2.5750, Take profit at 2.6000, Stop loss at 2.5650

    SP500

    SP500 index fell into a consolidation after a sharp rise on Friday which brought the price action above both the long-term and short-term MAs. With the support from two MAs hanging below the price action, the stock index is expected to extend its upward rally to test a resistance at 2445.00.

    Trade suggestion

    Buy Stop at 2439.00, Take profit at 2445.00, Stop loss at 2436.00

    DAX

    DAX 30 index has been trapped in an upward slopping trading range and has been tracing an uptrend following a rebound from the lower boundary. The price action has been struggling with a couple of MAs but further advances are expected as the RSI index which has surpassed 50 indicates a strengthening bullish momentum in the market.

    Trade suggestion

    Buy Stop at 12770.00, Take profit at 12830.00, Stop loss at 12740.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37665

    EUR/JPY signal by Capital Street FX

    From GMT 08:35 16/06/2017
    Till GMT 21:00 16/06/2017

    Buy at 124.350
    Take profit at 124.850
    Stop loss at 124.100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37664

    Japanese Yen Slumps Ahead of BOJ’s Rate Decision, Fed’s Rate Hike Continues to Support Dollar

    Japanese Yen extended losses against its American counterpart on Friday after having suffered the biggest one-day decline in the previous session. While the Yen was awaiting the Bank of Japan’s rate decision, the dollar continued to strengthen on the back of following the Federal Reserve’s decision to raise interest rates.

    The pair USDJPY rose nearly 0.2 percent to trade around 111.13 on Friday after dropping 1.2 percent in Thursday’s session – the most since January. The U.S. central bank on Wednesday lifted its benchmark interest rate to between 1% and 1.25% and said it would gradually shrink its massive $4.5 trillion balance sheet.

    Meanwhile, the BOJ will conclude its two-day meeting today with markets expecting that the central bank would leave policy settings alone as Japan’s consumer price growth is still far from the bank’s 2% inflation target. The focus will be on Governor Haruhiko Kuroda’s press conference which comes after the results of the meeting.

    Investors were waiting for clues from the BOJ’s Governor about an eventual exit from stimulus after the central bank upgraded its assessment of the economy from “recovery” to “expansion” at its last meeting in April. That was the first upgrade in the last nine years after BOJ considered improving exports and domestic consumption.

    Later on the day, U.S. Census Bureau is due to report data on Building Permits for May, which is expected to point to a rise of 1.25 million permits issued last month after an unexpected slump in April. Data on housing starts is also anticipated to show an increase of 1.23 million units in May. In the month before, housing starts decreased by 2.6% from March to hit a seasonally adjusted 1.172 million units.

    U.S. data released on Friday also features reports on Consumer Sentiment, Labor Market Conditions and Inflation Expectations published by University of Michigan.


    Fig: USDJPY H4 Technical Chart

    USDJPY has been tracing a strong uptrend after rebounding from as low as 108.810. The price action has not only breached both the short-term and long-term MAs from below but has also broken out of a firm resistance at 23.6% Fibonacci level – where it had to reverse lower last Friday. Both ADX and RSI indices are soaring strongly, suggesting a strengthening bullish momentum in the market. Further advances are expected.

    Trade suggestion

    Buy Stop at 111.200, Take profit at 111.600, Stop loss at 111.000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37663

    DAX 30 Index Reverses Higher As Shares of Auto Makers Jump

    German shares advanced on Friday, reversing higher after a slump on the previous session. The stock benchmark DAX 30, which tracks the performance of the 30 largest companies trading on the Frankfurt Stock Exchange, added nearly 0.5 percent with gains from shares of auto makers.

    The European Automobile Manufacturers’ Association on Friday reported that new car sales in the European Union rose 7.6% in May to 1.39 million in the EU in May from 1.29 million recorded one year ago. The sales rise in western Europe was reported to be most pronounced in Germany and Spain. In Germany, the EU’s biggest car market, car sales rose 12.9%.

    The report triggered a sharp gain in shares of auto makers. Shares of BMW AG added 0.7% in Frankfurt while those of Daimler AG advanced by nearly 0.5 percent.

    Trade suggestion

    Buy Stop at 12760.00, Take profit at 12830.00, Stop loss at 12730.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37662

    Daily Report on June 16, 2017

    Asian stocks were mixed on Friday with the MSCI Asia Pacific Index little changed. Despite of being weighed down by technology shares which caused the sector to drop 0.2 percent, overall performance was supported by gains in Japanese Yen which strengthened on the back of a weak currency. Crude futures prices held losses, continuing to trade at a seven-month low.

    Japan’s Topix jumped 0.5 percent, erasing its loss for the week with the reversal into trading higher of shares of SoftBank Group Corp. Equities of the Japanese multinational telecommunications and Internet corporation jumped 2.8 percent, snapping a four-day downward rally. Australia’s S&P/ASX 200 Index advanced 0.4 percent while Hong Kong’s Hang Seng index and Singapore’s Straits Times Index also traded higher. The Shanghai Composite Index, however, lost 0.2 percent.

    Meanwhile, the BOJ will conclude its two-day meeting today with markets expecting that the central bank would leave policy settings alone as Japan’s consumer price growth is still far from the bank’s 2% inflation target. The focus will be on Governor Haruhiko Kuroda’s press conference which comes after the results of the meeting.

    Investors were waiting for clues from the BOJ’s Governor about an eventual exit from stimulus after the central bank upgraded its assessment of the economy from “recovery” to “expansion” at its last meeting in April. That was the first upgrade in the last nine years after BOJ considered improving exports and domestic consumption.

    Technicals

    GBPCHF

    GBPCHF has been tracing an uptrend which brought its price action above a couple of MAs. The currency pair is struggling around a significant stance at 23.6% Fibonacci level. Both ADX and RSI index are on a rise, suggesting a strong bull is dominating the market. A resistance at 1.25300 is within the sight.

    Trade suggestion

    Buy Stop at 1.24700, Take profit at 1.25300, Stop loss at 1.24400

    EURAUD

    EURAUD has been on a sharp downtrend after having broken out of a period of moving sideways around an importance stance at 23.6% Fibonacci level. Under downward pressure from two MAs that are hanging above the price action, the pair is anticipated to test a support at 38.2% Fib. While ADX is surging vigorously with a widening gap between –DI and +DI lines, RSI index is edging lower, confirming the downtrend.

    Trade suggestion

    Sell Stop at 1.46700, Take profit at 1.46200, Stop loss at 1.46900

    NZDJPY

    NZDJPY extended its uptrend to a fourth day in a row – surging to the highest since early-March on Friday. The pair has officially broken out of a significant level at 50.0% Fibonacci level and surpassed a high at 79.992 reached on Wednesday. Both RSI and ADX indices are edging higher, which suggests further advances.

    Trade suggestion

    Buy Stop at 80.200, Take profit at 80.650, Stop loss at 80.000

    SILVER

    Silver prices have been struggling around a support at 16.710 – the stance that the precious metal failed to breach on Tuesday. The metal’s prices have been depressed by both long-term MA50 (which forced the price reversed lower at as high as 17.348) and short-term MA20. RSI remained at low level, signaling further declines.

    Trade suggestion

    Sell Stop at 16.700, Take profit at 16.550, Stop loss at 16.770

    GOLD

    Under the pressure from two moving averages, gold futures fell below a Fibonacci retracement at 23.6%. The precious metal fell into a consolidation following sharp down moves but seems to extend its downtrend with RSI index heading lower while ADX index is on a rise. A support at 1246.00 is within the sight.

    Trade suggestion

    Sell Stop at 1252.00, Take profit at 1246.00, Stop loss at 1255.00

    DAX

    Germany’s DAX 30 has been moving in an upward slopping trading range with higher lows and higher highs formed along the way. The price reversed lower after having nearly hit the lower boundary in Thursday. While RSI is inching higher, the stock benchmark index is expected to test a resistance 12830.00.

    Trade suggestion

    Buy Stop at 12710.00, Take profit at 12830.00, Stop loss at 12650.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37534

    CAD/JPY signal by Capital Street FX

    From GMT 08:00 13/06/2017
    Till GMT 21:00 13/06/2017

    Buy at 83.100
    Take profit at 83.700
    Stop loss at 82.800

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37533

    Canadian Dollar Continues to Soar on Support from BOC’s Senior Official’s Hawkish Comments

    The Canadian dollar soared on Tuesday after having touched the strongest level in about two months versus the dollar on Monday. The loonie was supported by rising possibility that interest rates might go up sooner than expected.

    The pair USDCAD nose-dived by more than 0.3 percent on Tuesday to trade around C$1.3285 per dollar – the lowest level since April 17th, following a drop of more than 1 percent on Monday. Canadian dollar got a lift after Bank of Canada senor deputy governor Wilkins, during her speech late Monday, said that a rate hike could come sooner than anticipated.

    On the other hand, the dollar held steady against a basket of currencies as investors were awaiting the U.S. Federal Reserve’s two-day policy meeting starting set to start later on Tuesday. The central bank is widely expected to raise interest rates for the second time since the start of this year, rising its fed funds target range by a quarter point to a range between 1.0%-1.25%.

    Investors will also be watching for any fresh hints on the pace of further tightening in the months to come and on the Fed’s plans for trimming its balance sheet which might be revealed in a 30-minute press conference of Fed Chair Janet Yellen following the rate decision.

    Higher rates could boost the dollar, sending the greenback higher against its rivals, including the loonie.

    There will be no economic data for the Canadian dollar on Tuesday but the U.S. Bureau of Labor Statistics is scheduled to release data on Producer Price Index for May which is forecast to remain unchanged on a monthly basis.

    USDCAD has declined for a third session in a row. The downward rally has sent the pair below a significant support at 38.2% Fibonacci level while the short-term DMA20 has crossed the long-term DMA50 from above, which indicates a strong bearish momentum in the market. ADX is soaring with a widening gap between the -DI and +DI lines. The pair is expected to edge lower and may test a support at 1.32200 – the lowest level since April 13.

    Trade suggestion

    Sell Stop at 1.32800, Take profit at 1.32200, Stop loss at 1.33000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37532


    Daily Report on June 13, 2017

    Global shares advanced on Tuesday thanks to an ease in the selloff in technology shares. The Stoxx Europe 600 Index climbed 0.4 percent, reversing higher from a decline of 0.1 percent on Monday. Australian shares led gains in Asian session, soaring 1.7 percent with energy and financial shares topping the market as investors returned from a holiday.

    Japan’s Topix rose 0.1 percent while South Korea’s Kospi added 0.7 percent. Hong Kong’s Hang Seng index and Shanghai Composite Index also found themselves trading in positive territory, jumping 0.4 percent both. Futures on the S&P 500 Index added 0.2 percent.

    The Canadian dollar continued to soar on Tuesday after having touched the strongest level in about two months versus the dollar in the previous session. The loonie was supported by rising possibility that interest rates might go up sooner than expected.

    The pair USDCAD nose-dived by more than 0.3 percent on Tuesday to trade around C$1.3285 per dollar – the lowest level since April 17th, following a drop of more than 1 percent on Monday. Canadian dollar got a lift after Bank of Canada senor deputy governor Wilkins, during her speech late Monday, said that a rate hike could come sooner than anticipated.

    U.S. Federal Reserve’s two-day policy meeting set to start later on Tuesday. The central bank is widely expected to raise interest rates for the second time since the start of this year, raising its fed funds target range by a quarter points to a range between 1.0-1.25 percent. Investors will also be watching for any fresh hints on the pace of further tightening in the months to come and on the Fed’s plans for trimming its balance sheet which might be revealed in a 30-minute press conference of Fed Chair Janet Yellen following the rate decision.

    Technicals

    CADCHF

    CADCHF has been struggling around a resistance at 0.72900 – a stance which had been a strong support for the pair in mid-May. Recent steep up moves have sent the market into the overbought zone and caused the price to fall into a consolidation. In the event of continual upbeat trade, the pair is expected to hit another strong level at 0.73400.

    Trade suggestion

    Buy Stop at 0.73000, Take profit at 0.73400, Stop loss at 0.72800

    SUGAR

    Sugar failed to maintain its bullish momentum after having breached the short-term MA20. The commodity had to retreat from as high as 14.52 and has fallen below the MA20 again. RSI rebounded from the 50 line and is heading lower, signaling further declines. Sugar may attempt a support at 13.30.

    Trade suggestion

    Sell Stop at 13.80, Take profit at 13.30, Stop loss at 14.00

    GOLD

    Gold futures prices have been trading sideways to lower under the downward pressure exerted by two MAs hanging above the price action. The short-term MA20 has breached the long-term MA50 from above, indicating a strengthening downtrend. RSI remained at low level, signaling further declines.

    Trade suggestion

    Sell Stop at 1263.00, Take profit at 1257.00, Stop loss at 1266.00

    SILVER

    Silver has been tracing a sharp downtrend which helped the metal’s price to beach a firm support at 16.990 and sent the market into an oversold zone. Silver, however, is likely to extend its down moves as ADX index is soaring strongly with a widening gap between –DI and +DI lines. A support at 16.670 is within the sight.

    Trade suggestion

    Sell Stop at 16.800, Take profit at 16.670, Stop loss at 16.850

    DAX 30

    As can be seen from the price chart, Germany’s DAX 30 index has been supported by a couple of MAs. The stock benchmark index gapped up on Tuesday and looks set to soar higher as the market has jumped in the bullish zone, as indicated by the RSI index. ADX index is edging higher, confirming the uptrend.

    Trade suggestion

    Buy Stop at 12750.00, Take profit at 12840.00, Stop loss at 12700.00

    NASDAQ 100

    NASDAQ 100 index jumped higher at the open on Tuesday and is facing a strong resistance at 5723.00 where the stock benchmark index had to give up its strength and rebounded lower. RSI has risen from the oversold zone while the +DI line has converged with the –DI line from below. A resistance at 5785.00 is expected to be tested.

    Trade suggestion

    Buy Stop at 5725.00, Take profit at 5785.00, Stop loss at 5700.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37471

    AUD/CAD signal by Capital Street FX

    From GMT 03:00 12/06/2017
    Till GMT 21:00 12/06/2017

    Sell at 1.01050
    Take profit at 1.01650
    Stop loss at 1.01250

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37470

    Brexit Talks Around The Corner, Sterling Extends Downward Rally Amidst Rising Political Turmoil

    British Pound slumped against all of its peers on Monday, extending its losses on Friday further as the currency was weighed down by concerns over the next leader of the country.

    The pair GBPUSD lost more than 0.5 percent to trade around $1.2681, heading towards the lowest level since April 18th reached last Friday. Sterling lost ground amidst political turmoil for U.K. Prime Minister Theresa May. The PM left her Conservative Party without control of the House of Commons after Thursday’s snap election as it failed to win the minimum 326 seats needed to hold a parliamentary majority.

    A hung parliament left investors cautious about the U.K.’s path on Brexit negotiations as the talks are scheduled to begin in a week. According to latest reports, May is seeking a coalition with Northern Ireland’s Democratic Unionist Party, which holds 10 seats, to form a new government. However, no agreement has been struck yet.

    The prime minister herself is facing calls to step down from her post as she could not strengthen her party’s hand by calling the snap election mid-April. PM May is scheduled to have a meeting with lawmakers on Monday.

    Trade suggestion

    Sell Stop at 1.26700, Take profit at 1.26300, Stop loss at 1.26900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37469

    U.S. Shares Tumble For a Second Day As Tech Stocks Extend Losses

    U.S. stock market stumbled on Monday, losing ground for a second straight session as sharp declines in shares of technology companies weighed down overall performance.

    While the tech-heavy Nasdaq Composite Index dropped 1.05 percent following a decline of 1.8% on Friday, the S&P 500 index shed more than 0.4 percent with seven out of the benchmark’s 11 sectors trading lower.

    The selloff in technology stocks showed no signs of slowdown with shares of the top-five tech leaders which are Facebook, Amazon , Apple, Microsoft and Alphabet all in negative zone. Especially, shares of Apple plunged 3.66 percent after their shares were downgraded for the second time in a week.

    The technology sector led losses, down 1.2%, while telecom and energy shares were up 0.9%.

    Trade suggestion

    Sell Limit at 2425.00, Take profit at 2415.00, Stop loss at 2430.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37468

    Daily Report on June 12, 2017

    Asian shares were mixed on Monday with stocks of technology companies stumbling after Friday’s selloff in U.S. technology equities. Shares of Samsung Electronics Co. led declines, slumping 1.7 percent and sending South Korea’s Kospi down 0.8 percent. Hong Kong’s Hang Seng index and Shanghai Composite index also retreated, dropping 0.6 percent and 0.1 percent, respectively.

    While the Nikkei 225 Stock Average shed 0.4 percent, Japan’s Topix rose 0.2 percent. According to Japan Cabinet Office, the country’s core machinery orders fell more than expected in April. The figure dropped 3.1 percent from a month earlier, well above economists’ expectation calling for a decline of 1.3 percent. This was the first drop in three months, adding concerns about the country’s fragile economic recovery.

    Markets in Australia, Malaysia and the Philippines are closed for public holidays on Monday.

    As stated by the credit card firm Visa, British consumers cut their spending for the first time in nearly four years last month. Consumer spending in May was reported to decline by 0.8 percent compared to the same month in 2016. This marked the first year-on-year fall since September 2013. On a monthly basis, sales fell by 1.9 percent.

    Crude oil futures rose on Monday after Russia’s energy minister Alexander Novak on Sunday said that he the oil market is expected to balance in the first quarter of next year on hope that global inventories will fall to a five-year average.

    Technicals

    USDCAD

    USDCAD reversed lower following a correction as the currency pair has been under downward pressure from two MAs lingering above the price action. The pair is facing a strong support at 1.34400 again after consistently rebounded after hitting this stance. RSI remains under the 50 line while ADX index is soaring, suggesting a strengthening bearish momentum. Further declines are expected.

    Trade suggestion

    Sell Stop at 1.34400, Take profit at 1.33900, Stop loss at 1.34600

    SILVER

    Silver has been tracing a downtrend after having failed to cross over a resistance at 50.0% Fibonacci level. The precious metal extended its downward rally to a fourth day in a row, sending the price to the lowest level since June 02nd. RSI has fallen into the oversold zone while ADX index continues to edge higher, indicating a dominating bearish force in the market.

    Trade suggestion

    Sell Stop at 17.100, Take profit at 16.990, Stop loss at 17.150

    COFFEE

    Coffee has been trading sideways in a narrow range. The commodity failed to break out of a resistance at 128.50 and has been depressed by both long-term and short-term MAs. RSI retreated from the central line, suggesting a stronger downtrend. The commodity price is expected to trade lower and may test a support at 123.50.

    Trade suggestion

    Buy Stop at 126.00, Take profit at 123.50, Stop loss at 127.20

    Natural Gas

    After a gap down at the open, natural gas keeps trading in a narrow range below a significant resistance at 38.2% Fibonacci retracement. The RSI is flat at around 37, showing a bearish-dominated market. The short-term MA20 has crossed over the long-term MA50, signaling further drop in the prices.

    Trade suggestion

    Sell Stop at 3.000, Take profit at 2.970, Stop loss at 3.015

    NASDAQ

    Nasdaq index continued to inch lower after having gapped down at the close. The stock benchmark index fell below a support at 5721.00 – which had been a firm resistance in the past. Although RSI index has entered the oversold territory, ADX is marching higher, showing a strengthening force by sellers in the market. A support at 5660.00 is within the sight.

    Trade suggestion

    Sell Stop at 5710.00, Take profit at 5660.00, Stop loss at 5735.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37394

    GBP/CHF signal by Capital Street FX

    From GMT 06:30 09/06/2017
    Till GMT 21:00 09/06/2017

    Sell at 1.22900
    Take profit at 1.22300
    Stop loss at 1.23200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37393

    British Pound Plunges Sharply In The Aftermath of the Shocking Election Vote

    Sterling slumped against all of its major rivals on Friday after the unexpected election result for Prime Minister Theresa May, which left no single party with a clear claim to power, threw Britain into fresh political turmoil and raised concerns over the future of the country, especially the path of leaving the European Union.

    The pound plunged more than 2.2 percent versus the U.S. dollar, tumbling to the lowest level since April 18 on the back of a sharp drop for the ruling Conservative Party and gains for the opposition Labour Party.

    A hung parliament was officially produced after the Conservatives only won 315 seats out of 650 seats, short of the 326 seats needed for a majority. Opposition Labour snapped up 261 seats, followed by the Scottish National Party at 35 and the Liberal Democrats at 12 seats.

    A hung parliament, where no single party has a majority of seats in the House of Commons, is weighing down the British Pound as the ruling Conservative Party will have no choice but relying on smaller parties to govern if it does not want their legislation to be voted down.

    With Brexits talks are due to start in less than two weeks, it remains unclear who would form the next government while markets fear that negotiations on leaving the European Union will be delayed.

    Trade suggestion

    Sell Stop at 1.27000, Take profit at 1.26400, Stop loss at 1.27300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37392

    Daily Report on June 09, 2017

    U.K. stocks jumped the most among developed markets while the Sterling slumped against all of its major rivals on Friday after the unexpected election result for Prime Minister Theresa May, which left no single party with a clear claim to power, threw Britain into fresh political turmoil and raised concerns over the future of the country, especially the path of leaving the European Union.

    The FTSE 100 Index rallied 1.2 percent, the most since April while the Stoxx Europe 600 Index added 0.3 percent. In Asian session, Japan’s Topix index inched 0.1 percent higher while the Nikkei 225 Stock Average soared 0.5 percent. Singapore’s Straits Times Index also added 0.5 percent while South Korea’s Kospi index surged 0.8 percent.

    By contrast, Hong Kong’s Hang Seng index and the Hang Seng China Enterprises Index lost 0.2 percent and 0.6 percent, respectively. The Shanghai Composite added 0.3 percent after data showed China’s producer price gains moderated in May. China’s producer price index was reported to rise 5.5 percent last month from a year earlier, following a rise of 6.4 percent in April. Consumer price index climbed 1.5 percent.

    The pound plunged more than 2.2 percent versus the U.S. dollar, tumbling to the lowest level since April 18 on the back of a sharp drop for the ruling Conservative Party and gains for the opposition Labour Party. A hung parliament was officially produced after the Conservatives only won 315 seats out of 650 seats, short of the 326 seats needed for a majority.

    With Brexits talks are due to start in less than two weeks, it remains unclear who would form the next government while markets fear that negotiations on leaving the European Union will be delayed.

    Technicals

    USDCHF

    USDCHF has broken out of a significant level at 50.0% Fibonacci retracement after having brought its price action above two MAs. As can be seen from the index chart, RSI index kept on surging, indicating a strengthening uptrend. ADX is also marching higher, signaling further advances.

    Trade suggestion

    Buy Stop at 0.97200, Take profit at 0.97700, Stop loss at 0.97000

    EURAUD

    EURAUD is facing a firm support at 1.48300 where it had to reverse higher earlier this week. With RSI at as low as 32.09 and pointing down, the market seems to be dominated by the bearish force. Under downward pressure from two MAs, the pair is expected to breach this stance and test another strong support at 38.2% Fib.

    Trade suggestion

    Sell Stop at 1.48200, Take profit at 1.47600, Stop loss at 1.48500

    WTI

    WTI crude prices edged lower on Friday, extending their downward rally to a third day in a row. The commodity remained weak under the pressure from two MAs that are hanging above the price action. While RSI index has fallen into the oversold zone, ADX index is rallying with a widening gap between the –DI and –DI lines, crude price is expected to head lower towards a support at 38.2% Fib.

    Trade suggestion

    Sell Stop at 45.30, Take profit at 44.30, Stop loss at 45.80

    SILVER

    Silver reversed lower after hitting a dynamic resistance at the short-term MA20 following a correction on Thursday when the metal price action fell below both MAs. A support at 17.150 is within the sight with both indices confirming the downtrend. While the ADX is heading higher, RSI is sliding to as low as 35.87.

    Trade suggestion

    Sell Stop at 17.300, Take profit at 17.150, Stop loss at 17.370

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37350

    SILVER/USD signal by Capital Street FX
    From GMT 15:30 08/06/2017
    Till GMT 21:00 08/06/2017
    Sell at 17.390
    Take profit at 17.290
    Stop loss at 17.440


    EUR/GBP signal by Capital Street FX

    From GMT 17:00 08/06/2017
    Till GMT 21:00 08/06/2017
    Sell at 0.86600
    Take profit at 0.86200
    Stop loss at 0.86800

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37349

    Supported by Suspended Operations in Chile’s Mines and China Trade Balance, Copper Soars

    Copper futures prices rose for second day in a row on Thursday after upbeat Chinese trade balance and reports that mines in Chile – the world’s biggest copper exporter – have suspended key operations due to heavy rains.

    Copper futures for July delivery added more than 0.5 percent after the Customs General Administration of China reported that the country’s overseas shipments accelerated in May compared to that of a year ago.

    As stated by the data released on Thursday, China’s exports jumped 8.7 percent in May in dollar terms while imports soared 14.8 percent, bringing the trade balance to $40.81 billion dollars. China’s trade surplus in May widened from April’s $38.05 billion.

    In yuan terms, exports climbed 15.5 percent and imports surged 22.1 percent, leaving a trade surplus of 281.6 billion yuan. Thanks to an improvement in global demand, both figures beat expectations. Copper prices increased as a result as the data showed a strong appetite for China’s imports of industrial commodities which helps boost resources prices worldwide.

    Meanwhile, Reuters on Wednesday reported that operations in some locations in Chile were halted after the country’s northern area was hit by snowstorms. The harsh weather condition caused Chile’s emergency service Onemi to trigger its highest ‘red alert’ warning and to implement safety protocols in the region of Antofagasta.

    BHP Billiton’s Escondida – the world’s biggest copper mine – said all of its operations had been suspended due to heavy snow. Antofagasta PLC and state-owned mining company Codelco also announced interruptions to productions at their mines after heavy rains lashed the high altitude desert region of Antofagasta.

    Copper rebounded strongly from a couple of moving averages. The commodity has officially escaped from the previous downtrend which was under downward pressure from two MAs. As can be seen from RSI index chart, the index did not only breach the central line but also surged to as high as 66.37, indicating a strong bullish momentum in the copper market. The commodity price is likely to extend its up moves. A resistance at 2.5930 is within the sight.

    Trade suggestion

    Buy Stop at 2.5700, Take profit at 2.5930, Stop loss at 2.5600


    * All trading involves risk. Only risk capital you are prepared to lose

  • #37348


    Daily Report on June 08, 2017

    Asian shares inched lower on Thursday as investors were reluctant to add any big positions in risky assets ahead of key events scheduled to come out later in the day. The MSCI Asia Pacific Index lost more than 0.2 percent, led by declines in stocks of energy producers.

    While Hong Kong’s Hang Seng and the Shanghai Composite Index were little changed, South Korea’s Kospi index lost 0.3 percent after North Korea launched a series of short-range missiles early Thursday. Thanks to the dollar’s rebound against the yen, Japanese equities advanced. The Topix index rose 0.1 percent while Japan’s Nikkei N225 added 0.3 percent.

    According to Japan’s Cabinet Office, the economy grew less than the government initially reported for the first quarter. In the three-month period to March, Japan’s economy – the world’s third largest – expanded at an annualized rate of 1.0 percent, well below the preliminary estimate of 2.2 percent growth.

    Australia’s S&P/ASX 200 Index fell 0.1 percent after the Australian Bureau of Statistics on Thursday reported the country’s trade balance to drop to a surplus of $0.56 billion in April from a surplus of $3.1 billion recorded in March. As stated by the data, while imports only shed 1 percent, exports plunged by 8 percent in April, leaving the result well below expectation calling for a surplus of $1.95 billion.

    Crude oil futures prices pared losses after having nose-dived more than 5 percent on Wednesday. The sharp down move came after the Energy Information Administration reported an unexpected rise in U.S. crude stockpiles.


    Technicals

    NZDJPY

    NZDJPY has been trading sideways to higher around the 38.2% Fibonacci retracement. The pair has breached last Friday’s high of 79.100 and seems to break out of its currently narrow trading range. With support from rising RSI and ADX index which indicates a strong bullish force in the market, the pair is expected to test a resistance at 79.600.

    Trade suggestion

    Buy Stop at 79.200, Take profit at 79.600, Stop loss at 79.000

    EURJPY

    EURJPY failed to break out of a resistance which is the short-term MA20. The pair had to give up its upbeat moves to reverse lower after hitting this stance in early trade. The support at 122.600 is expected to be tested again. This is a strong level which has forced the price to rebound on May 18th and June 07th.

    Trade suggestion

    Sell Stop at 123.300, Take profit at 122.600, Stop loss at 123.700

    GBPUSD

    With the support from two MAs that are lingering below the price, GBPUSD has been tracing an uptrend which has brought its price action above a firm resistance at 23.6% Fibonacci level. A strong handle at 1.30400 is within the sight as both RSI and ADX indices are edging higher, indicating a strong bullish momentum.

    Trade suggestion

    Buy Stop at 1.29800, Take profit at 1.30400, Stop loss at 1.29500

    WTI

    WTI crude price has fallen into a consolidation following a sharp down move on Wednesday that helped the price break out of a support at 46.70. The commodity fell to another support at 45.80 and is struggling at this level. As can be seen from the price chart, two MAs hanging below the price action are exerting downward pressure on the price, not to mention a low RSI that indicates a dominating bearish market. The price is expected to drop lower to test a significant level at 38.2% Fib.

    Trade suggestion

    Sell Stop at 45.75, Take profit at 44.80, Stop loss at 46.10

    Natural Gas

    Natural gas prices failed to cross over a dynamic resistance which is the long-term MA50. The commodity price fell below the 38.2% Fibonacci retracement and also below the short-term MA20, suggesting a reversal into a downtrend. RSI has drifted to as low as 41.02 while the ADX index headed lower, indicating a weakening uptrend. A support at 2.930 is expected to be tested.

    Trade suggestion

    Sell Stop at 3.000, Take profit at 2.930, Stop loss at 3.030


    * All trading involves risk. Only risk capital you are prepared to lose

  • #37325

    EUR/NZD signal by Capital Street FX

    From GMT 05:30 07/06/2017
    Till GMT 21:00 07/06/2017

    Sell at 1.56900
    Take profit at 1.56300
    Stop loss at 1.57200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37324

    Australian Dollar Jumps To One-Month Highs Following Upbeat GDP Data

    The Australian dollar traded higher against its American counterpart in early Asia on Wednesday after first-quarter growth figures came out better-than-expected. Meanwhile, the greenback remained weak ahead of a big day on Thursday when the calendar features both highly-awaited political and economic events.

    The currency pair AUDUSD added more than 0.4 percent in Asian morning session on Wednesday to trade around 0.75400 – the highest level since May 03rd. The pair also extended its upward rally to a fourth day in a row after the Aussie was boosted higher by upbeat economic data.

    According to the Australian Bureau of Statistics, the country’s Gross Domestic Product (GDP) advanced by 0.3 percent in the three-month period to March in seasonally adjusted chain volume terms.

    The growth rate in March quarter marked a sharply decline compared to the previous quarter, sending the annual pace of growth to the lowest level since late 2009. Indeed, year-on-year increase slowed to 1.7 percent – the weakest expansion rate since the third quarter of 2009.

    Although the result was well below the 1.1% increase recorded in the first three months of the year, it beat analysts’ expectation calling for a rise of 0.2 percent.

    Meanwhile, the dollar plunged to seven-month lows overnight as investors flocked into safe-haven assets ahead of a trio of risk events in the next 48 hours. On Thursday, the European Central Bank’s policy meeting, Britain’s general election and former FBI chief James Comey’s testimony before the Senate Intelligence Committee will draw market attention and drive market sentiment.

    Comey’s testimony is expected to keep the U.S. dollar under pressure as the fired FBI director will testify about Russia’s alleged involvement in the U.S election as well as U.S. President Donald Trump’s alleged attempt to halt an investigation into former national security advisor Michael Flynn.

    As can be seen from the price chart, the pair is testing a firm resistance at 0.75400 – the level it had to give up its up moves and reverse lower five weeks ago. After having breached a significant level at 38.2% Fibonacci level on Monday, the price action continue to cross over both the long-term and short-term MAs from below, suggesting a strong bullish momentum in the market. RSI and ADX indices are rising higher, signalling further advances. A resistance at 23.6% Fibonacci level is within the sight.

    Trade suggestion

    Buy Stop at 0.75400, Take profit at 0.75900, Stop loss at 0.75200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37323

    WTI Crude Futures Nose-Dive Following an Unexpected Sharp Rise in U.S. Inventories

    U.S. crude oil futures prices dropped steeply in U.S. trading session on Wednesday following a weekly report that showed a large rise in U.S. inventories of the commodity.

    U.S. West Texas Intermediate for July delivery plunged by more than 4 percent to trade around $45.90 per barrel on the New York Mercantile Exchange after data from the U.S. Energy Information Administration indicated that domestic crude supplies soared 3.3 million barrels last week.

    The unexpected rise in U.S. crude oil stockpiles in the week ended June 2nd marked the first advance in the last nine weeks and contrasted with analysts’ forecast calling for a drop of 3.1 million barrels. The sharp rise raised concerns over U.S. domestic crude production that may surge to a record level next year, contributing to losses for oil.

    Trade suggestion

    Sell Stop at 45.90, Take profit at 45.00, Stop loss at 46.40

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37322

    Daily Report on June 07, 2017

    Asian shares struggled to find direction on Wednesday after major U.S. stock indexes closed lower on Tuesday. While Japanese equities slid for a third straight day, Chinese stocks advanced. Indeed, Japan’s Topix index fell 0.1 percent while the Shanghai Composite increased 0.8 percent.

    Hong Kong’s Hang Seng index also inched higher, added 0.1 percent and stayed around 26,000 reached on Tuesday – the highest level since July 2015. In contrast, Australia’s S&P/ASX 200 Index shed 0.2 percent, falling to the lowest level since February. South Korea’s Kospi index also lost ground.

    The Australian dollar traded higher in early Asia on Wednesday after first-quarter growth figures came out better-than-expected. The currency pair AUDUSD added more than 0.4 percent to trade around 0.75400 – the highest level since May 03rd. The pair also extended its upward rally to a fourth day in a row after the Aussie was boosted higher by upbeat economic data.

    According to the Australian Bureau of Statistics, the country’s Gross Domestic Product (GDP) advanced by 0.3 percent in the three-month period to March in seasonally adjusted chain volume terms. Although the result was well below the 1.1% increase recorded in the first three months of the year, it beat analysts’ expectation calling for a rise of 0.2 percent.

    The dollar plunged to seven-month lows overnight as investors flocked into safe-haven assets ahead of a trio of risk events in the next 48 hours. On Thursday, the European Central Bank’s policy meeting, Britain’s general election and former FBI chief James Comey’s testimony before the Senate Intelligence Committee will draw market attention and drive market sentiment.

    Technicals

    CADJPY

    CADJPT reversed lower after a correction following a sharp downtrend that sent the price to more-than-three-week lows yesterday. Two MAs hanging above the price action have been still putting downward pressure on the price, on course to weigh down the pair further to test a support at 80.650. RSI index edged lower to as low as 32.80, indicating a dominating bearish force in the market.

    Trade suggestion

    Sell Stop at 83.300, Take profit at 80.650, Stop loss at 83.600

    GBPJPY

    GBPJPY pared earlier gains to trade lower, extending the downtrend after its price action broken below the long-term DMA50. RSI continued to edge lower while ADX index marched higher, which indicates a strengthening bearish force. In the event of further declines, the pair is expected to test a support at 140.100.

    Trade suggestion

    Sell Stop at 141.100, Take profit at 140.100, Stop loss at 141.600

    BRENT

    Brent crude futures prices crossed over the short-term MA20 yesterday but the bull appeared to not be strong enough to maintain its momentum. The price action is facing the MA20 again and may drop below this level. RSI retreated from the central line, indicating a strengthening bearish force in the market. A support at 48.45 is within the sight.

    Trade suggestion

    Sell Stop at 49.65, Take profit at 48.45, Stop loss at 50.20

    COFFEE

    Coffee future prices have been trapped in a slopping downtrend trading range since late-January. Yesterday, the commodity price reversed lower to retest one-year lows at 125.25 reached on June 02. Under the downward pressure exerted by the short-term MA20, the coffee price is expected to trade lower. Soaring RSI and ADX indices with a widening gap between –DI and +DI lines suggest further declines.

    Trade suggestion

    Sell Stop at 125.00, Take profit at 122.00, Stop loss at 126.50

    CAC 40

    France’s CAC 40 index extended its slide to a fourth session in a row on Wednesday and looked set to trade lower in an attempt to test a firm support at 5230.00. The stock benchmark index had to rebound after hitting this level twice since late April. RSI remained at low level while ADX index is inching higher, suggesting more declines.

    Trade suggestion

    Sell Stop at 5260.00, Take profit at 5230.00, Stop loss at 5275.00

    DAX

    Germany’s DAX 30 index is facing a dynamic support at the long-term MA50 after having crossed over the short-term MA20. Recent steeply down moves have brought the market into the bearish zone, as indicated by RSI index which fell below 50. The previous uptrend weakened with ADX index dropping to as low as 34.27. A support at 12530.00 is expected to be tested.

    Trade suggestion

    Sell Stop at 12650.00, Take profit at 12530.00, Stop loss at 12700.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37278

    EUR/AUD signal by Capital Street FX

    From GMT 9:00 06/06/2017
    Till GMT 21:00 06/06/2017

    Sell at 1.49800
    Take profit at 1.49300
    Stop loss at 1.50000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37277

    U.K. Shares Decline Amidst Rising Concerns Ahead of The U.K. General Election

    U.K. shares edged lower for a second session in a row on Tuesday amidst rising concerns ahead of the U.K. general election on Thursday and a strengthening Pound.

    U.K. stock benchmark – the FTSE 100 index dropped more than 0.2 percent following a loss of 0.3 percent on Monday. Recent down moves caused the index to retreat further from a fresh record high reached last Friday.

    A poll released late Monday by Survation showed the gap between May’s Conservative Party and the opposition Labour tightened to 1 point ahead of Thursday’s election, down from 16 points a month ago.

    Additionally, the testimony of former Federal Bureau of Investigation Director James Comey about alleged Russian interference in U.S. affairs also kept investors cautious and diminished the appeal of risky assets. The dollar weakened versus most of its peers ahead of the testimony, indirectly boosted the British Pound higher.

    The pound added more than 0.15 percent to touch a high of 1.29495, up from $1.2903 late Monday.

    Trade suggestion

    Sell Stop at 7500.00, Take profit 7470.00, Stop loss at 7515.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #37276


    Daily Report on June 06, 2017

    Asian stocks retreated following a drop in U.S. equities overnight. At the close in NYSE, all three major U.S. stock benchmarks lost at least 0.1 percent on the back of downbeat economic data and a slump in Apple shares following a rare downgrade. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.2 percent in early trade, retreating from a two-year high hit on Monday.

    Weighed down by a strong Yen which soared 0.5 percent versus its American counterpart, Japan’s Topix index fell 0.6 percent while Japan’s Nikkei 225 dropped 0.4 percent. Australia’s S&P/ASX 200 Index dropped 0.8 percent. By contrast, Hong Kong’s Hang Seng Index rose 0.2 percent and the Shanghai Composite Index added 0.1 percent.

    South Korea is closed for a holiday.

    The Australian dollar weakened against most of peers ahead of the latest rate review from the Reserve Bank of Australia. The RBA is scheduled to release its latest interest rate decision later in the day with markets forecasting no changes to the central bank’s record low interest rate of 1.50%. Data on Australia’s current account will also be published. Analysts expect a surplus of A$100 million for the first quarter.

    Crude oil prices extended their downward rally to a third day in a row on Tuesday, hit by concerns over a political tension between Qater and several Arab states. Accusing Qatar of supporting for Islamist militants and Iran, Saudi Arabia, Egypt, the United Arab Emirates and some other Arab countries cut ties with Qatar. The action may weaken an agreement to hold back production in an attempt to prop up prices.

    Technicals

    EURJPY

    EURJPY has been on a downtrend since it reversed lower from a significant resistance at 50.0% Fibonacci level. The sharp down moves brought the price action below two MAs, indicating a strong bearish momentum in the market. While the RSI index is heading lower, the ADX index is edging higher with a widening gap between the –DI and +DI lines, suggesting further downbeat moves.

    Trade suggestion

    Sell Stop at 123.700, Take profit at 123.000, Stop loss at 124.000

    GBPJPY

    GBPJPY retreated after having failed to break out of a dynamic resistance that is the long-term MA50. The pair is on course to retest one-month lows reached on May 31th with a market dominated by the bear. The pair is expected to attempt a firm support at 23.6% Fibonacci level.

    Trade suggestion

    Sell Stop at 141.800, Take profit at 140.800, Stop loss at 142.300

    BRENT

    Crude oil futures prices remained weak under downward pressure from two MAs hanging above the price action. The pair is testing a firm support at 49.22 which has restrained the pair from falling lower for the third time since Monday. With RSI remained low and edging-higher ADX, Brent crude price may inch lower to test another support at 48.30.

    Trade suggestion

    Sell Stop at 49.10, Take profit at 48.30, Stop loss at 49.50

    Natural Gas

    Natural Gas has fallen below a significant support at 38.2% Fibonacci level and continued to head downwards. The commodity’s price action has been weighed down by the short-term MA20. The RSI index has dropped into an oversold zone, signaling a correction. The price may reverse at the support at 2.900.

    Trade suggestion

    Sell Stop at 2.960, Take profit at 2.900, Stop loss at 2.990

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37244

    Gold Soars To Six-Week Highs on Weak Dollar and Rising Geopolitical Risks

    Gold futures advanced on Monday on the back of a weakening dollar that has been weighed down by a weaker-than-expected U.S. employment report. The geopolitical risks which pressurized Asian stocks also caused investors to flock into safe-haven assets such as gold.

    Gold added 0.34 percent in Asian morning session to trade around $1281.10 per barrel as the dollar languished near a seven-month low on Monday. The dollar index was last trading flat at 96.716, under pressure from data on U.S. jobs growth for May that showed the world’s largest economy only added 138,000 jobs in the reported month. The result fell well below forecast for a rise of 185,000 jobs.

    Gold jumped to the highest level since April 21st attacks in London over the weekend added concerns over geopolitical risks in the U.K. ahead of the country’s general election that will be held on Thursday. Recent polls showed a tighter gap between the Conservatives, led by Prime Minister Theresa May, and the Labour Party, under left-winger Jeremy Corbyn.

    Trade suggestion

    Buy Stop at 1282.00, Take profit 1288.00, Stop loss at 1279.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37243

    Daily Report on June 05, 2017

    Asian shares failed to resume their upbeat moves even after U.S. shares reached fresh record highs last Friday. Japan’s Topix index pared losses, falling 0.2 percent following a drop of 0.6 percent in early trade. Meanwhile, Hong Kong’s Hang Seng fell 0.1 percent and the Shanghai Composite Index slipped 0.3 percent. Australia’s S&P/ASX 200 Index also fell into negative zone, losing 0.6 percent. By contrast, South Korea’s Kospi index added 0.1 percent.

    Gold futures advanced on Monday on the back of a weakening dollar that has been weighed down by a weaker-than-expected U.S. employment report. The geopolitical risks which pressurized Asian stocks also caused investors to flock into safe-haven assets such as gold.

    Gold added 0.34 percent in Asian morning session to trade around $1281.10 per barrel as the dollar languished near a seven-month low on Monday. The dollar index was last trading flat at 96.716, under pressure from data on U.S. jobs growth for May that showed the world’s largest economy only added 138,000 jobs in the reported month. The result fell well below forecast for a rise of 185,000 jobs.

    Meanwhile, attacks in London over the weekend added concerns over geopolitical risks in the U.K. ahead of the country’s general election that will be held on Thursday. Recent polls showed a tighter gap between the Conservatives, led by Prime Minister Theresa May, and the Labour Party, under left-winger Jeremy Corbyn.

    IMF Deputy Managing Director Mitsuhiro Furusawa on Monday said that more aggressive interest rate hikes in the U.S. that may trigger a “significant” dollar rise and increase the debt burden of Asian emerging economies which own large dollar-denominated borrowings. China’s rapid domestic credit growth is also another risk that cloud Asia’s economic outlook, according to the official.

    Technicals

    AUDNZD

    AUDNZD reversed higher from four-month lows at around 1.03970 and brought its price action above both long-term and short-term MAs, suggesting a reversal into an uptrend from a previous sharp downtrend. The pair is expected to test a resistance at 61.8% Fibonacci retracement with RSI surging as high as 63.10.

    Trade suggestion

    Buy Stop at 1.04700, Take profit at 1.05300, Stop loss at 1.04400

    AUDCAD

    AUDCAD crossed over both short-term and long-term MAs from above, confirming a strong uptrend and liberating the price action from downward pressure exerted by two MAs. In the event of continual uptrend, the pair is expected to attempt a resistance at 61.8% Fibonacci retracement.

    Trade suggestion

    Buy Stop at 1.00500, Take profit at 1.00900, Stop loss at 1.00300

    SILVER

    Silver has fallen into a consolidation after having surged to the highest level since April 26th. The correction pulled the ADX down below 20, suggesting no clear trend in the market. However, as can be seen from the RSI chart, the bull is dominating and may send the price higher to a resistance at 17.700.

    Trade suggestion

    Buy Stop at 15.560, Take profit at 17.700, Stop loss at 15.000

    Natural Gas

    Natural gas gapped up on Monday but seems weak to maintain the bullish momentum. The commodity has just escaped from the oversold territory; however, the market has still been in the bearish zone with RSI index is at as low as 36.12. A support at 23.6% Fibonacci level is within the sight.

    Trade suggestion

    Sell Stop at 3.025, Take profit at 2.935, Stop loss at 3.070

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37188

    USD/CAD signal by Capital Street FX

    From GMT 09:00 02/06/2017
    Till GMT 21:00 02/06/2017

    Buy at 1.35400
    Take profit at 1.35900
    Stop loss at 1.35200


    * All trading involves risk. Only risk capital you are prepared to lose

  • #37187

    Natural Gas Futures Extend Downward Rally on Swelling U.S. Domestic Supplies

    U.S. natural gas futures prices extended losses on Friday, heading for a decline for a fifth session in a row and on course for the biggest weekly drop since late-January.

    Natural gas futures for July delivery were down nearly 0.6 percent in Asian trading hours on Friday, weighed down by data from the U.S. Energy Information Administration released on Thursday that showed domestic supplies rose more than expected.

    According to the report, natural gas storage in the U.S. added 81 billion cubic feet for the week ended May 26, topping analysts’ expectation calling for a rise of 74 billion cubic feet. Total stocks now stand at 2.525 trillion cubic feet, 225 billion cubic feet above the five-year average.

    Trade suggestion

    Sell Stop at 3.020, Take profit 2.950, Stop loss at 3.050

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37186


    Daily Report on June 02, 2017

    Asian share jumped to their best levels in more than two years on Friday after U.S. stock benchmark indices closed at all-time highs in Thursday session. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.6 percent, led by gains in equities of Japan and South Korea. Indeed, Japan’s Topix index rose 1 percent while the Nikkei 225 advanced by 1.2 percent.

    By contrast, the Shanghai Composite declines for a second day, losing 0.1 percent.

    Australia’s S&P/ASX 200 Index and South Korea’s Kospi index found them on a strong uptrend with each adding at least 0.8 percent. Up moves in global stocks and the U.S. dollar were boosted by larger-than-expected private American hiring data. The dollar held on gains after ADP reported private payrolls grew by 253,000 last month. The result comfortably beat analysts’ median forecast of an 185,000 increase.

    The nonfarm payrolls report is scheduled to come out on Friday, which is expected to show that the U.S. economy created 185,000 jobs last month.

    Confidence in the world’s largest economy was bolstered further following the release of data on U.S. factory activity. The Institute for Supply Management reported its barometer for domestic manufacturing activity jumped to 54.9 last month from 54.8 in April. Economists had expected a rise to 52.8.

    Crude oil prices weakened on Friday

    WTI crude oil dropped 0.5 percent after adding 0.1 percent in the previous session. It’s on course to fall 3.4 percent this week. Oil prices dropped nearly 1 percent in early Asian trade on Friday, dragged down by ongoing concerns over a global glut in crude supply despite a bigger-than-expected draw in U.S. crude inventories.

    Crude stockpiles were down to 6.4 million barrels in the week to May 26, beating analyst expectations for a decrease of 2.5 million barrels.

    Although a sharp fall of U.S. crude inventories could be seen as a supportive factor to oil prices, U.S. crude production rose to 9.35 million bpd last week, up nearly 500,000 bpd from a year ago.

    Technicals

    EURJPY

    EURJPY fell into a consolidation again after having surged to as high as 125.230. However, with rising ADX and RSI indices which indicate a dominating bullish force in the market, the pair is expected to edge higher to as high as a significant level 125.800.

    Trade suggestion

    Buy Stop at 125.300, Take profit at 125.800, Stop loss at 125.100

    USDJPY

    USDJPY extended its up moves following a short correction. The pair crossed over both short-term and long-term MAs from below, which suggesting a strong uptrend. The pair is likely to attempt a firm resistance at 38.2% Fibonacci retracement.

    Trade suggestion

    Buy Stop at 111.700, Take profit at 112.100, Stop loss at 111.500

    WTI

    U.S. crude price has officially fallen below the support at 23.6% Fibonacci retracement. As can be seen from the price chart, the commodity price has been under pressure from two MAs hanging above the price action, especially from the short-term MA20. Crude price looked set to trade lower with the market plunging in the bearish zone, as indicated by low RSI index.

    Trade suggestion

    Sell Stop at 48.00, Take profit at 47.00, Stop loss at 48.50

    COFFEE

    Coffee prices fell below a firm support at 128.40 again after peaking below this level on May 25th. With downward pressure exerted from two MAs lingering above the price action, coffee price may extend its down moves to as low as 124.70. Further downbeat steps were confirmed by declining RSI index and a widening gap between –DI and +DI lines.

    Trade suggestion

    Sell Stop at 127.30, Take profit at 124.70, Stop loss at 128.50

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37144

    AUD/NZD signal by Capital Street FX

    From GMT 03:40 01/06/2017
    Till GMT 21:00 01/06/2017

    Sell at 1.04500
    Take profit at 1.04000
    Stop loss at 1.04700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37141

    Australian Dollar Pares Gains After China’s Manufacturing Activity Contracts

    The Australian dollar dropped more than 0.4 percent versus the U.S. dollar in Asian trade on Thursday, reversing gains on the back of China’s manufacturing data release.

    The pair AUDUSD spiked to as high as 0.74038 following Australia’s stronger-than-expected retail sales. According to the Australian Bureau of Statistics, the country’s retail sales rebounded sharply in April. Boosted by strong demand for food sold by cafes and restaurants and products in department stores, retail sales rose by 1.0 percent in April on a monthly basis.

    The reading was well above the 0.3 per cent rise expected by economists and outpaced March’s rate at 0.2 percent.

    However, China’s manufacturing activity unexpectedly retreated for the first time in 11 months. The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) fell to 49.6. A result below 50 demarcates growth and contraction on a monthly basis. The survey showed companies shed more jobs as demand weakened and shrinking factory prices dented profits.

    The weak figure, which extended a streak of declines to three months starting in March, was well below April’s 50.3 and economists’ forecast of 50.1

    Later on Thursday, ADP nonfarm payrolls report and the weekly report on initial jobless claims will be published, followed by data on non-manufacturing PMI released by the Institute for Supply Management.

    Trade suggestion

    Sell Stop at 0.74000, Take profit 0.73600, Stop loss at 0.74200

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37140

    U.S. Crude Futures Edge Higher on Larger-than-expected Decline in U.S. Inventories

    U.S. crude futures prices jumped more than 1 percent on Thursday after a weekly report showed domestic crude supplies fell more than expected last week.

    U.S. West Texas Intermediate crude for July delivery jumped 1.24 percent to trade at 48.85 per barrel on the New York Mercantile Exchange.

    Data from the U.S. Energy Information Administration released Thursday pointed to a decline of 6.4 million barrels in U.S. inventories in the week ended May 26. This was not only an eighth weekly drop in a row but also well above economists’ expectation calling for a drop of 2.7 million barrels.

    According to the EIA’s report, gasoline stockpiles fell by 2.9 million barrels while distillate stockpiles added 400,000 barrels last week.

    Trade suggestion

    Buy Stop at 49.00, Take profit 49.70, Stop loss at 48.70

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37138


    Daily Report on June 01, 2017

    Global shares advanced with the Stoxx Europe 600 Index up 0.2 percent while the MSCI Asia Pacific Index rose 0.3 percent. Having jumped by 2.4 percent in May for its biggest monthly gain of the year, Japan’s Topix index rose another 1.1 percent in the first session of June. Sydney’s S&P/ASX 200 Index rose 0.2 percent and Hong Kong’s Hang Seng Index climbed 0.5 percent.

    The pair AUDUSD spiked to as high as 0.74038 following Australia’s stronger-than-expected retail sales. According to the Australian Bureau of Statistics, the country’s retail sales rebounded sharply in April. Boosted by strong demand for food sold by cafes and restaurants and products in department stores, retail sales rose by 1.0 percent in April on a monthly basis. The reading was well above the 0.3 per cent rise expected by economists and outpaced March’s rate at 0.2 percent.

    However, the currency reversed gains on the back of China’s manufacturing data release. However, China’s manufacturing activity unexpectedly retreated for the first time in 11 months. The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) fell to 49.6. A result below 50 demarcates growth and contraction on a monthly basis. The survey showed companies shed more jobs as demand weakened and shrinking factory prices dented profits.

    Crude oil futures edged higher on Thursday following a sharp down move to a three-week low in the previous session. Data released by the American Petroleum Institute (API) showed U.S. crude inventories dropped by 8.7 million barrels at 513.2 million in the week to May 26. This was much larger than expectations for a decrease of 2.5 million barrels. The U.S. Energy Information Administration (EIA) is to report its data later in the day.


    Technicals

    GBPAUD

    As can be seen from the price chart, GBPAUD reversed higher after having hit a dynamic support which is the short-term MA20. The pair has been supported by this support since yesterday which sent the price to one-week high at 1.74300. RSI rebounded after a correction, suggesting further advances.

    Trade suggestion

    Buy Stop at 1.73700, Take profit at 1.74300, Stop loss at 1.73400

    USDCAD

    USDCAD has breached a significant support at 38.2% Fibonacci level but the pair is facing the long-term MA50. A crossover from above is expected. In the event of further down moves, the currency pair may test a strong support at 1.34300. RSI has fallen to as low as 43.74, confirming the downtrend.

    Trade suggestion

    Sell Stop at 1.34750, Take profit at 1.34300, Stop loss at 1.34950

    GBPUSD

    GBPUSD’s price action has crossed over both short-term and long-term moving averages following a downtrend from as high as 1.29200. RSI index dropped back below the 50 level, indicating a strengthening bearish momentum. A support at 1.27900 is within the sight.

    Trade suggestion

    Sell Stop at 1.28500, Take profit at 1.27900, Stop loss at 1.28800

    CAC 40 Index

    CAC 40 index has been trading in a narrow range with its price action twisting with a couple of moving averages. The price crossed over these MAs again with strong up moves. Both RSI and ADX indices are rising, suggesting a dominating bullish force in the market which can send the index to the highest level since May 25th.

    Trade suggestion

    Buy Stop at 5325.00, Take profit at 5375.00, Stop loss at 5300.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37095

    EUR/CAD signal by Capital Street FX
    From GMT 13:00 31/05/2017
    Till GMT 21:00 31/05/2017

    Buy at 1.51100
    Take profit at 1.51600
    Stop loss at 1.50900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37094

    Mounting Output from Libya Weighs Down Crude Oil Futures

    Crude oil futures prices edged lower on Wednesday, falling for a third session in a row amidst concerns over rising output from Libya which came on the heels of increasing U.S. production.

    Brent crude futures lost more than 0.4 percent in Asian trading session compared to their last close to trade around $51.61 per barrel.

    As stated by Libya’s state-run National Oil Corporation, the country’s oil production is expected to rise to 800,000 barrels per day (bpd) this week and boost its exports as a result. According to market sources, Libya has already shipped out an average of 500,000 bpd of crude oil so far this year, which is nearly as twice as 300,000 bpd shipped on average in 2016.

    Libya’s mounting crude oil output, couple with soaring shale oil production in the U.S., undermined OPEC-led production cuts aimed at wiping out the current crude oil global glut.

    Later on Wednesday, the American Petroleum Institute (API) is scheduled to publish its estimates of U.S. crude and refined product inventories. Meanwhile, official data from the Energy Information Administration will be released on Thursday. Both come out one day later than usual due to a holiday on Monday.

    Market forecasts a crude oil inventory fall of 2.830 million barrels for the week ending May 26th.

    Trade suggestion

    Sell Stop at 51.60, Take profit 51.00, Stop loss at 51.90


    * All trading involves risk. Only risk capital you are prepared to lose

  • #37093

    Gold Advances On Weakening Dollar and Losses in Banking Shares

    Gold futures prices rose on Wednesday after edging lower for two consecutive trading days. The precious metal gained on the back of weak U.S. dollar and stock markets that headed south.

    August gold jumped nearly 0.4 percent to trade around $1267.00 per barrel.

    U.S. stock-index gauges traded lower with all three major equity benchmark in the negative territories, weighed down by bank stocks. Banks equities, led by losses in shares of Goldman Sachs Group Inc., fell across the board after J.P. Morgan Chase & Co.’s CFO claimed that trading is down about 15% in the second quarter. The financial sector lost 1.2 percent.

    Meanwhile, the greenback weakened against its major rivals. The U.S. dollar index, which measures the currency against a half-dozen rivals, dropped 0.4 percent. A weak greenback makes gold, which is quoted in dollar, more affordable for buyers holding other currencies.

    Trade suggestion

    Buy Stop at 1268.00, Take profit 1274.00, Stop loss at 1265.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37092


    Daily Report on May 31, 2017

    Asian shares inched lower on Wednesday with the Shanghai Composite wiping out almost all of its earlier gains. China reported official manufacturing PMI for May that reached 51.2, steady with 51.2 in April and better than a median estimate of 51. The non-manufacturing PMI hit 54.5, up from a level last at 54.0 in April. The private manufacturing PMI from Caixin will be released on Thursday.

    Reversing lower following two days of gains, Japan’s Topix fell 0.3 percent. The Hong Kong’s Hang Seng index and Hong Kong’s Hang Seng both shed 0.1 percent. By contrast, Australia’s S&P/ASX 200 index added 0.2 percent and South Korea’s Kospi index edged 0.1 percent higher.

    Crude oil futures prices edged lower on Wednesday, falling for a third session in a row amidst concerns over rising output from Libya which came on the heels of increasing U.S. production. As stated by Libya’s state-run National Oil Corporation, the country’s oil production is expected to rise to 800,000 barrels per day (bpd) this week and boost its exports as a result.

    According to market sources, Libya has already shipped out an average of 500,000 bpd of crude oil so far this year, which is nearly as twice as 300,000 bpd shipped on average in 2016.

    Later on Wednesday, the American Petroleum Institute (API) is scheduled to publish its estimates of U.S. crude and refined product inventories. Meanwhile, official data from the Energy Information Administration will be released on Thursday. Both come out one day later than usual due to a holiday on Monday.

    Technicals

    EURGBP

    EURGBP has received huge support from two MAs lingering below the price action. The uptrend is strengthening, as indicated by a widening gap between the +DI and –DI lines in the ADX chart and a soaring RSI index. The currency pair is likely to test the highest level since mid-March at 0.87850.

    Trade suggestion

    Buy Stop at 0.87300, Take profit at .87850, Stop loss at 0.87100

    NZDUSD

    NZDUSD rebounded higher after having fallen into a consolidation at nearly three-month highs at 0.71000. With upward support from the short-term MAs, the pair may attempt a resistance at 23.6% Fibonacci retracement. Rising ADX and RSI indices confirm the extended uptrend.

    Trade suggestion

    Buy Stop at 0.71000, Take profit at 0.71600, Stop loss at 0.70700

    WTI

    As can be seen from the price chart, WTI crude price has been under downward pressure from two MAs that are hanging above the price action. The commodity price is testing yesterday’s lowest level and may fall further to reach a significant support at 23.6% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 49.10, Take profit at 48.50, Stop loss at 49.40

    AUDNZD

    AUDNZD has been tracing a sharp downtrend that sent the pair to retest nearly four-month lows at 1.04900. Under downward pressure from the short-term MA20, the pair may have to drop lower to test a support at 1.04200. RSI index has fallen to as low as 33.13, suggesting further declines.

    Trade suggestion

    Sell Stop at 1.04800, Take profit at 1.04200, Stop loss at 1.05100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37051

    GBP/JPY signal by Capital Street FX
    From GMT 09:45 30/05/2017
    Till GMT 21:00 30/05/2017
    Buy at 142.900
    Take profit at 143.700
    Stop loss at 142.500


    GBP/NZD signal by Capital Street FX

    From GMT 17:00 30/05/2017
    Till GMT 21:00 30/05/2017
    Sell at 1.81000
    Take profit at 1.79500
    Stop loss at 1.81700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37050

    Weighed by Uncertainties in the Eurozone, Euro to Edge Lower For a Fourth Straight Session Versus Dollar

    The Euro dropped versus its American counterpart on Tuesday amidst rising concerns over Concerns about a Greek bailout, early Italian elections and comments by the European Central Bank governor that reiterated the need for “substantial” stimulus.

    The single currency, which was on course for dropping for a fourth straight session, fell 0.4 percent to trade at 1.1125 against the dollar on Tuesday – the lowest level since May 19th. The Euro was weighed down partly due to Greece’s financial situation concerning a deal on debt relief measures.

    Greece’s finance minister on Monday said that the deal should be reached at the next meeting of euro zone finance ministers in June in order to help the country return to bond markets.

    In Italia, former Prime Minister Matteo Renzi on Sunday stated that Italy’s next election should be held at the same time as Germany’s which is scheduled for September. The comments pulled the euro lower as it led to a selloff in Italian government debt on Monday.

    Adding to downward pressure on the Euro, ECB President Mario Draghi repeated the need for “substantial” stimulus amid subdued inflation.

    Later in the day, the Euro zone is scheduled to release data on German Prelim CPI while the U.S. is to report on personal income and expenditure along with data on consumer confidence for April, which are all predicted to advance compared to the previous month on a monthly basis.

    Trade suggestion

    Sell Stop at 1.11250, Take profit 1.10800, Stop loss at 1.11450


    * All trading involves risk. Only risk capital you are prepared to lose

  • #37049


    Daily Report on May 30, 2017

    Asian equities drifted on Tuesday with thin trading as several markets closed for holidays. Asia-Pacific shares outside Japan dropped 0.3 percent, following holidays in the U.S. and Britain overnight. Markets in Hong Kong and China are shut for holiday while equities in Japan retreated as the yen strengthened. Japan’s Topix fell 0.3 percent on the back of the yen that added 0.4 percent versus the dollar.

    Data released earlier on the day showed Japan’s jobless rate remained at the lowest level in more than two decades last month. However, household spending continued to decline in April, as stated by Tokyo’s Statistics Bureau. In April, the headline figures dropped another 1.4 percent on a yearly basis after having declined in three previous months.

    South Korea’s Kospi index lost 0.5 percent while Australia’s benchmark gauge was little changed.

    The Euro dropped versus its American counterpart on Tuesday amidst rising concerns over Concerns about a Greek bailout, early Italian elections and comments by the European Central Bank governor that reiterated the need for “substantial” stimulus. The single currency, which was on course for dropping for a fourth straight session, fell 0.4 percent to trade at 1.1125 against the dollar on Tuesday – the lowest level since May 19th.

    Likewise, Sterling headed back toward a three-week low of $1.2775 touched on Friday, shedding 0.2 percent against dollar after the lastest poll showed British Prime Minister Theresa May’s lead over the opposition Labour Party dropped to 6 percentage points.

    Technicals

    NZDUSD

    As can be easily seen from the price chart, the pair NZDUSD has been supported consistently by the short-term MA20. The price rebounded from this dynamic support and headed higher in an attempt to test a resistance at 0.71000. RSI has edged higher to as high as 57.10, suggesting a strengthening uptrend.

    Trade suggestion

    Buy Stop at 0.70600, Take profit at 0.71000, Stop loss at 0.70400

    BRENT

    Brent crude prices reversed lower after hitting a firm resistance at 52.60 and a dynamic support that is the short-term MA20. Under the downward pressure from two MAs hanging above the price, the commodity is expected the test a support at 23.6% Fibonacci retracement. RSI remained under the 50 line, signaling further downtrend.

    Trade suggestion

    Sell Stop at 52.00, Take profit at 51.00, Stop loss at 52.50

    Natural Gas

    Natural Gas price extended its down moves after having gapped down on Monday. The commodity has fallen into a consolidation while heading towards a significant support at 3.170. RSI which is at as low as 31.21 indicates a dominating bearish force in the market.

    Trade suggestion

    Sell Stop at 3.200, Take profit at 3.170, Stop loss at 3.215

    DAX

    Germany’s DAX index has been under downward pressure exerted by two MAs that are lingering above the price action. RSI retreated after having failed to move past the 50 line, suggesting a re-emerging bearish momentum. The stock benchmark index is likely to test a support at 12500.00.

    Trade suggestion

    Sell Stop at 12580.00, Take profit at 12500.00, Stop loss at 12620.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37014

    EUR/NZD signal by Capital Street FX

    From GMT 05:00 29/05/2017
    Till GMT 21:00 29/05/2017

    Sell at 1.57900
    Take profit at 1.56900
    Stop loss at 1.58400

    * All trading involves risk. Only risk capital you are prepared to lose

  • #37013


    Daily Report on May 29, 2017

    Asian shares advanced on Monday amid low trading volume as some markets closed. Shrugging off a North Korean missile launch, South Korea’s KOSPI index jumped 0.4 percent to touch a fresh record high. The stock benchmark index was on track for its seventh straight day of gains.

    Meanwhile, Tokyo shares were buoyed higher on the back of a weak Japanese yen which gave up early gains. The Topix index advanced 0.3 percent and Japan’s Nikkei edged up 0.2 percent. While The Hang Seng index increased 0.2 percent, Australia’s S&P/ASX 200 Index fell 0.5 percent.

    U.S. markets will be closed on Monday for Memorial Day and UK banks will be closed in observance of the Spring Bank Holiday. China’s markets are also closed on Monday and Tuesday in observance of the Dragon Boat Festival.

    Crude oil prices dropped on Monday due to a relentless rise in U.S. drilling. According to a report released by the oilfields-services company Baker Hughes on Friday, the US oil-rig count rose by two to 722 last week. U.S. drillers have now added rigs for 19 straight weeks, sending the figure to U.S. drillers have now added rigs for 19 straight weeks.

    Technicals

    EURAUD

    EURAUD has been tracing an uptrend which brought its price action above both long-term and short-term MAs. The market has entered the bullish zone while the gap between the +DI line and –DI line has been widened, which indicates a strong bullish momentum. The pair is expected to test a resistance at 1.50900.

    Trade suggestion

    Buy Stop at 1.50400, Take profit at 1.50900, Stop loss at 1.50200

    GBPUSD

    GBPUSD rebounded from a one-month low at as low as 1.27800. Sharp down moves sent the market into an oversold territory last week and the price is experiencing a correction. The downtrend has weakened, as indicate by ADX index that fell to 37.29. A resistance for the pair to test is at 1.28800.

    Trade suggestion

    Buy Stop at 1.28400, Take profit at 1.28800, Stop loss at 1.28200

    Natural Gas

    Natural gas has been trading sideways around the level at 3.232 after gapped down on Monday. The price, which has been under downward pressure exerted by two MAs, fell below the 50.0% Fibonacci. With the RSI index has been as low as 35.38, further declines are expected.

    Trade suggestion

    Sell Stop at 3.225, Take profit at 3.175, Stop loss at 3.250

    BRENT

    Brent crude has been trading in a narrow range around the level 52.00. As can be seen from the price action, the short-term MA20 has crossed over the long-term MA50 from above, suggesting a reversal into a downtrend. As indicated by the RSI index which is at 44.02, the market has been stuck in the bearish zone, signaling further down moves.

    Trade suggestion

    Sell Stop at 51.90, Take profit at 51.00, Stop loss at 52.30

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36951

    GBP/CHF signal by Capital Street FX

    From GMT 09:00 26/05/2017
    Till GMT 21:00 26/05/2017

    Sell at 1.24900
    Take profit at 1.24400
    Stop loss at 1.25100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36950

    Costco Shares Advance Following Above-expectation Third-Quarter Earnings

    Shares of Costco Wholesale Corp. rose more than 1.8 percent in after-hours trading on Thursday after second largest retailer in the world posted fiscal third quarter earnings above expectations.

    The warehouse club company reported net income in its most recent quarter reached $700 million, or $1.59 per share, up from $545 million, or $1.24 per share, in the same period last year.

    Stripping out one-time items, earnings of the Washington-based company came to $1.40 per share in the three-month period ending May 7, topping analysts’ expectation for earnings of $1.31 per share.

    Revenue was reported to advance by 8% to $28.22 billion, from $26.15 billion last year. The result fall short of market forecast calling for sales of $28.6 billion.

    Costco’s comparable-store sales rose 5% in the quarter. Analysts had predicted a rise of 4%.

    Trade suggestion

    Buy Stop at 178.00, Take profit 180.00, Stop loss at 177.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36949

    Hit by YouGov Poll and Disappointing Data, Sterling Extends Downbeat Moves Versus Dollar

    Sterling continued to edge lower versus the greenback on Friday, hit by an unexpected poll result which came on the heels of disappointing economic data on Thursday.

    A YouGov poll released late Thursday showed a dramatic narrowing of the gap between the Conservatives (43 percent) and the Labour Party (38 percent). In previous polls conducted earlier this month, the gap has been as high as 24 points.

    The Pound lost another 0.4 percent against its American counterpart after having sunk by 0.3 percent on Thursday following ONS data that showed Britain’s economy’s growth rate slowed more than previously reported in the first quarter of this year.

    According to the Office for National Statistics, the U.K. GBP grew just 0.2% in the first quarter of 2017, a pace that was down even more sharply than first thought. This also marked a considerable decline compared to the 0.7% growth in the final three months of 2016.

    On Friday, the U.S. Bureau of Economic Analysis is scheduled to publish GDP data for the last quarter, which is expected to show the world’s largest economy expanded by 0.9 percent in the three-month period through March.

    Data on Core Durable Goods Orders for April will also be released. Economists anticipate a reversal compared to the previous month. Particularly, total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items, is predicted to advance by 0.4 percent on a monthly basis in April.

    Trade suggestion

    Sell Stop at 1.28800, Take profit 1.28400, Stop loss at 1.29000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36948

    Daily Report on May 26, 2017

    Asian stocks were broadly lower on Friday, depressed by losses in shares of energy producers. Having closed at a two-year high on Thursday, MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent in the last session of the week. Still, the stock benchmark looked set to close the week 1.4 percent higher.

    Stocks in Tokyo, Sydney and Singapore fell with Japan’s Nikkei slipping 0.2 percent, but on track for a 0.9 percent increase for the week. Australia’s S&P/ASX 200 Index plunged by 0.75 percent, hit hard by 2.3 percent decline in shares of BHP Billiton Ltd. Australia’s benchmark was poised for a 0.3 percent weekly rise.

    Meanwhile, Hong Kong’s Hang Seng added 0.1 percent and China’s CSI 300 was flat. Both equity benchmark indices headed towards gains for the week with the former heading for a 2.4 percent increase for the week while the latter heading for a 2.4 percent increase for the week

    Crude price remained weak after having lost nearly 5 percent in the previous session. The sharp down move came after Thursday’s meeting in Vienna between the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers disappointed investors wagering for longer or larger supply curbs. OPEC and its allies only agreed to extend a pledge to cut around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018.

    Sterling continued to edge lower on Friday after a YouGov poll released late Thursday showed a dramatic narrowing of the gap between the Conservatives (43 percent) and the Labour Party (38 percent). The Pound lost another 0.4 percent after having sunk by 0.3 percent on Thursday following ONS data that showed Britain’s economy’s growth rate slowed more than previously reported in the first quarter of this year.


    Technicals

    NZDUSD

    NZDUSD has been moving sideways below a significant resistance at 0.70500. The pair failed to cross over this level but at the same time has been supported by the short-term MA20. RSI has reversed higher, suggesting a strengthening bullish momentum. The pair is expected to test another firm resistance at 0.71000.

    Trade suggestion

    Buy Stop at 0.70500, Take profit at 0.71000, Stop loss at 0.70300

    USDJPY

    As can be seen from the price chart, the pair USDJPY has breached the 50.0% Fibonacci retracement. Under the pressure from both the long-term and short-term MAs, the pair looked set to fall lower to test a support at 110.500. While RSI is nose-diving, ADX is edging higher with a widening gap between the –DI and +DI lines.

    Trade suggestion

    Sell Stop at 111.000, Take profit at 110.500, Stop loss at 111.200

    GOLD

    Gold retest a resistance at 1263.00 – the level it has to reverse lower on May 18th and 23rd. The price action has been trapped between this resistance and a support at 38.2% Fibonacci retracement. With the support from two MAs and the RSI index which has risen to as high as 63.81, the precious metal is expected to surge higher and break out of the current trading range, attempting the level 1270.00

    Trade suggestion

    Buy Stop at 1264.00, Take profit at 1270.00, Stop loss at 1261.00

    DAX

    Germany’s DAX 30 index gapped down on Friday, falling below a support at 12600.00. The stock benchmark index failed to cross over a couple of MAs and has been depressed by these two dynamic resistances. RSI is edging lower, indicating a strong bearish force in the market. The price is anticipated to test a support at 12500.00.

    Trade suggestion

    Sell Stop at 12560.00, Take profit at 12500.00, Stop loss at 12590.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36900

    USD/CAD signal by Capital Street FX

    From GMT 13:50 25/05/2017
    Till GMT 21:00 25/05/2017

    Sell at 1.34000
    Take profit at 1.33400
    Stop loss at 1.34300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36899

    Shares of HP Inc. Hit $20 Following Last Quarter’s Earnings Results

    Shares of HP Inc. added 3 percent to hit $20 in late trading on Wednesday after the company reported higher-than-expected sales and earnings for the last quarter. That was the highest level HP’s stock prices have ever hit since the company split from Hewlett Packard Enterprise.

    The California-based information technology company posted net income of $600 million, or 33 cents a share, on sales of $12.4 billion for its fiscal second quarter ending in April.

    After adjusting for one-time items such as restructuring charges, HP said it earned 40 cents a share, topping market forecast calling for earnings of 39 cents a share on sales of $11.9 billion.

    The company raised its guidance for full-year adjusted earnings to $1.59 to $1.66 a share, up from previous forecast of $1.55 to $1.65 a share.

    Trade suggestion

    Buy Stop at 20.00, Take profit 20.20, Stop loss at 19.90

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36898

    Natural Gas Prices Extend Losses After A Larger-than-expected Rise in U.S. Supplies

    Natural gas futures prices fell on Thursday; extending their downward rally to a third session in a row after a weekly report showed a larger-than-expected rise in U.S. supplies of the commodity.

    Natural gas futures prices for June delivery dropped more than 1.1 percent from Wednesday’s settlement to trade around $3.260 per million British thermal units after the data release.

    As stated by the U.S. Energy Information Administration, U.S. natural gas supplies rose by 75 billion cubic feet for the week ended May 19, topping analysts’ forecast for a build of 67 billion cubic feet. According to the report, total stocks now stand at 2.444 trillion cubic feet, 241 billion cubic feet above the five-year average.

    Trade suggestion

    Sell Stop at 3.260, Take profit 3.230, Stop loss at 3.270

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36897


    Daily Report on May 25, 2017

    Asian shares advanced to two-year highs on Thursday after the U.S. Federal Reserve’s last meeting minutes signaled a cautious approach to future rate hikes. The dollar and U.S. bond yields were also hit by the reduction of the central bank’s $4.5 trillion of bond holdings. The MSCI Asia Pacific Index soared by 0.8 percent to the highest level since May 2015.

    While South Korea’s Kospi index jumped 0.8 percent to an all-time high, Taiwan’s Taiex also extended gains to the highest since 2000. Japan’s Topix index and the Shanghai Composite both rose 0.4 percent while the Hang Seng China Enterprises Index climbed 1.3 percent, trading above the level of 10,500 for the first time since March 29.

    According to the minutes from the Fed’s last policy meeting which was released on Wednesday, policymakers agreed they should hold off on raising interest rates, expressing concern that progress on inflation might have slowed. The greenback weakened to the lowest since November with Fed funds rate futures pricing in about a 75 percent chance that the Fed will raise rates next month, down from more than 80 percent earlier this week.

    Crude oil prices traded around five-week highs ahead of OPEC meeting in Vienna later in the day. As stated by the Energy Information Administration, U.S. crude oil inventories fell for the seventh straight week, dropping 4.4 million barrels in the week ended May 19. This topped analysts’ forecasts of a 2.4 million-barrels decline.

    Technicals

    NZDUSD

    NZDUSD extended its up moves, moving past the last high at 0.70455 recorded on Tuesday and is marching higher towards a significant level at 0.71000 with support from a couple of MAs. RSI has risen to as high as 69.11, looking set to enter an overbought zone and indicating an overwhelmingly strong bullish force in the market.

    Trade suggestion

    Buy Stop at 0.70600, Take profit at 0.71000, Stop loss at 0.70400

    EURO 50

    Euro 50 index gapped up on Thursday, bringing its price action above two MAs –which had refrained the prices from marching higher for a while. The stock benchmark index is facing the last high at around 3600.00 and is likely to surge higher with the market falling into the bullish zone, as indicate by RSI index.

    Trade suggestion

    Buy Stop at 3605.00, Take profit at 3645.00, Stop loss at 3585.00

    SILVER

    SILVER rebounded from a support at 17.135 following a correction from a high level at 17.212. The precious metal’s price is inching higher towards a resistance at 17.300 with upward support from two MAs lingering below the price action. ADX and RSI indices are rising, confirming the uptrend.

    Trade suggestion

    Buy Stop at 17.200, Take profit at 17.300, Stop loss at 17.150

    AUDCAD

    As can be easily seen from the price chart, the pair AUDCAD has been depressed by both long-term and short-term MAs. With declining RSI and rising ADX, the pair may drop lower to as low as 38.2% Fibonacci retracement as the bear is getting stronger in the market.

    Trade suggestion

    Sell Stop at 1.00400, Take profit at 0.99900, Stop loss at 1.00600

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36850

    AUD/USD signal by Capital Street FX
    From GMT 08:30 24/05/2017
    Till GMT 21:00 24/05/2017
    Buy at 0.74750
    Take profit at 0.75150
    Stop loss at 0.74550

    CAD/JPY signal by Capital Street FX
    From GMT 16:40 24/05/2017
    Till GMT 21:00 24/05/2017
    Buy at 83.300
    Take profit at 83.700
    Stop loss at 83.100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36849

    Shares of Intuit Soar Sharply Following Upbeat Earnings Report and Rosy Outlook

    Shares of Intuit Inc. soared considerably more than 9 percent in extended session on Tuesday after the software company reported better-than-expected earnings and forecast an upbeat outlook for the current quarter.

    Intuit posted third-quarter earnings of $964 million or $3.70 a share, down from $1.03 billion or $3.94 a share, recorded a year earlier. Adjusted for one-time items, earnings per share came in at $3.90 a share.

    Revenue was reported to jump to $2.54 billion from $2.3 billion, topping analysts’ forecast for earnings of $3.87 a share on revenue of $2.5 billion.

    The company anticipated fourth-quarter revenue to fall in a range between $795 million and $815 million while adjusted earnings per share to reach 16 cents to 18 cents. Forecast are ahead of Wall Street’s estimates.

    Trade suggestion

    Buy Stop at 141.00, Take profit 143.00, Stop loss at 140.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36848


    Daily Report on May 24, 2017

    Asian shares slipped on Wednesday, led by losses in Chinese stocks after Moody’s Investors Service cut its rating on China’s debt and said the outlook for the country’s financial strength would worsen. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.2 percent with the Shanghai Composite Index heading towards the lowest closing level since October. The Shanghai Composite dropped 0.4 percent while the Hang Seng shed 0.1 percent.

    Meanwhile, Japan’s Topix index advanced by 0.5 percent, retreating after 0.5 percent and South Korea’s Kospi index increased 0.2 percent. Australia’s S&P/ASX 200 Index was little changed while Australian dollar slipped following Moody’s announcement downgrading China to A1 from Aa3. The currency plunged by nearly 0.5 percent to trade at as low as $0.74.

    In a statement released on Tuesday, Moody’s said “The downgrade reflects Moody’s expectation that China’s financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows.”

    According to the American Petroleum Institute (API), U.S. crude oil inventories fell a less-than-expected 1.5 million barrels to 512.9 million barrels at the end of last week. Analysts expected crude inventories to drop by 2.733 million barrels. The Energy Information Administration (EIA) is scheduled to publish its data later on the day.


    Technicals

    GBPNZD

    GBPNZD reversed lower following a period of correction that came after a sharp downtrend. RSI retreated and is heading downwards, indicating a strengthening downtrend. With two MAs hanging above the price action, the pair looks set to retest a support at 1.84000.

    Trade suggestion

    Sell Stop at 1.85000, Take profit at 1.84000, Stop loss at 1.85500

    CADJPY

    CADJPY rebounded from a support at 82.600, supported by the long-term MA50. Buyers seem to jump back into the market and may push the price higher, as indicated by RSI index which reversed higher towards an overbought zone. A resistance at 83.300 is within the sight.

    Trade suggestion

    Buy Stop at 82.800, Take profit at 83.300, Stop loss at 82.600

    Natural gas

    Natural gas has fallen into a consolidation after a steep down move on Tuesday. The commodity is likely to extend its downtrend with the long-term MA50 crossing over the short-term MA20 from above. In the event of continual downtrend, natural gas price may retest a significant support at 50.0% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 3.315, Take profit at 3.260, Stop loss at 3.340

    WTI

    U.S. crude price has been trading sideways to higher with support from two MAs lingering below the price action. Unclear trend in the market sent the ADX index but RSI index keep marching higher, suggesting a dominating bullish force. A widening gap between +DI and –DI lines signals further advances.

    Trade suggestion

    Buy Stop at 51.70, Take profit at 52.40, Stop loss at 51.30

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36789

    GBP/NZD signal by Capital Street FX
    From GMT 04:00 23/05/2017
    Till GMT 21:00 23/05/2017
    Sell at 1.85200
    Take profit at 1.84400
    Stop loss at 1.85500


    USD/JPY signal by Capital Street FX

    From GMT 16:45 23/05/2017
    Till GMT 21:00 23/05/2017
    Buy at 111.700
    Take profit at 112.200
    Stop loss at 111.500

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36785


    Daily Report on May 23, 2017

    Asian shares were mixed on Tuesday with Japanese equities flat, struggling to find direction. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2 percent to march nearer its highest level since June 2015. While Japan’s Topix swung between gains and losses, Australia’s S&P/ASX 200 Index slipped 0.2 percent and South Korea’s Kospi rose 0.9 percent to an all-time high.

    Whereas Hong Kong’s Hang Seng climbed 0.3 percent, the Shanghai Composite Index lost 0.1 percent. S&P 500 futures lost ground on the back of a Washington Post’s report saying Donald Trump asked intelligence chiefs to publicly deny any collusion between his campaign and Russia.

    Euro held gains on Tuesday, extending its rally made after German Chancellor Angela Merkel said in Berlin during a school visit on Monday that “The euro is too weak”. Part of the blame goes to European Central Bank monetary policy which caused German products to be cheap in relative terms.

    By contrast, Sterling extended losses on Tuesday following a suspected terrorist attack that killed at least 19 people and wounded 50 at a pop concert in the English city of Manchester. The blast came two months after a lone attacker left five people dead outside the Houses of Parliament in London.

    Technicals

    EURNZD

    EURNZD has been on a steady downtrend which has sent the price action below both short-term and long-term MAs, which suggests strong down moves. While RSI is heading downwards, ADX is soaring, signaling further declines. A support at 1.58700 is within the sight.

    Trade suggestion

    Sell Stop at 1.59700, Take profit at 1.58700, Stop loss at 1.60200

    BRENT

    Brent crude has been trading sideways to lower and is facing a dynamic support at the long-term HMA50. The Brent crude market has entered the bearish zone, as indicated by RSI index which has fallen as low as 42.11. In the event of continual downtrend, the price may test a support at 52.60.

    Trade suggestion

    Sell Stop at 53.40, Take profit at 52.60, Stop loss at 53.80

    GOLD

    Gold price has been struggling around a firm resistance at 1261.00 – the level it failed to cross over on May 18th. The precious metal is likely to inch higher with support from the short-term MA20 and may attempt another strong resistance at 1270.00. Both RSI and ADX are rising, confirming the uptrend.

    Trade suggestion

    Buy Stop at 1264.00, Take profit at 1270.00, Stop loss at 1261.00

    EURO 50

    As can be seen from the price chart, the index failed to breach a firm resistance at 3590.00 – the level it had to reverse lower nearly one month ago. The stock benchmark gapped down in early trade and may fall lower to test a support at 3525.00 with downward pressure from two MAs.

    Trade suggestion

    Sell Stop at 3570.00, Take profit at 3525.00, Stop loss at 3585.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36724

    AUD/NZD signal by Capital Street FX

    From GMT 16:30 22/05/2017
    Till GMT 21:00 22/05/2017

    Sell at 1.06900
    Take profit at 1.06500
    Stop loss at 1.07100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36723

    Crude Prices Rise Amidst Expectations over Extended and Deepened OPEC-led Supply Curb

    U.S. crude oil futures prices gapped up on Monday, supported by speculation that an OPEC-led supply cut to crude supplies will be extended further in a meeting held later this week.

    U.S. West Texas Intermediate (WTI) crude futures jumped above $50 per barrel, adding 0.6 percent thanks to expectations that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, including Russia, would be extended by nine months to March 2018.

    The option of deepening the production cut to tighten the market and prop up prices was also being discussed ahead of a meeting of OPEC and its allies in Vienna on Thursday.

    At a news conference in Riyadh on Sunday, Saudi Arabia’s energy minister Al-Falih said that “We believe that continuation with the same level of cuts, plus potentially adding one or two small producers if they wish to join, will be more than adequate to bring the balances to where they need to be by the first quarter of 2018,”

    Trade suggestion

    Buy Stop at 50.90, Take profit 51.70, Stop loss at 50.50

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36722

    Supported by Energy and Mining Shares, U.K. Stocks Jump to Near All-time Record High

    U.K. stocks rose on Monday on the back of a rise in energy and mining shares. A weak British Pound also supported the country’s equities to march higher after a fourth weekly gain last week.

    The FTSE 100 index added 0.3 percent in the first session of the new week following a rise of 0.5 percent in the week ending on May 19th.

    A jump in crude oil prices ahead of this week’s OPEC meeting to discuss further production cut boosted shares of oil producers. Indeed, stocks of BP PLC climbed 0.6% while those of Royal Dutch Shell PLC advanced by 0.3 percent.

    Mining shares also rose with shares of Anglo American PLC up more than 0.8 percent. Fresnillo PLC and Randgold Resources PLC witnessed their stocks increase 0.88 percent and 0.68 percent, respectively.

    Trade suggestion

    Buy Stop at 7500.00, Take profit 7530.00, Stop loss at 7485.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36721

    Daily Report on May 22, 2017

    Asian shares advanced on Monday, supported by a rise in stocks of energy and mining producers as raw materials jumped higher. MSCI’s broadest index of Asia-Pacific shares outside Japan added nearly 0.5 percent, helped by gains in Australia’s and Hong Kong’s equities.

    Particularly, Australia’s S&P/ASX 200 Index surged by 0.8 percent while Japan’s Topix index rose 0.4 percent and South Korea’s Kospi index advanced 0.3 percent. Meanwhile, Hong Kong’s Hang Seng soared 0.8 percent, the Hang Seng China Enterprises Index climbed 0.9 percent and the Shanghai Composite added 0.2 percent.

    The Pound gapped down against most of its peers in early Asian trade on Monday due to the fact that the U.K. threatened to exit talks on its departure from Europe unless the bloc discard its demands for a divorce payment as high as 100 billion euros ($112 billion). EU ministers will meet in Brussels on Monday to discuss further about the Brexit negotiation.

    U.S. crude oil futures prices gapped up on Monday thanks to expectations that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, including Russia, would be extended by nine months to March 2018. The option of deepening the production cut to tighten the market and prop up prices was also being discussed ahead of a meeting of OPEC and its allies in Vienna on Thursday.

    At a news conference in Riyadh on Sunday, Saudi Arabia’s energy minister Al-Falih said that “We believe that continuation with the same level of cuts, plus potentially adding one or two small producers if they wish to join, will be more than adequate to bring the balances to where they need to be by the first quarter of 2018,”

    Technicals

    USDCAD

    USDCAD reversed lower after having failed to cross over a resistance at 1.35400. With downward pressure from two MAs, the pair is expected to inch lower. While RSI has been sliding, the ADX index is heading upwards, confirming further downbeat moves.

    Trade suggestion

    Sell Stop at 1.35200, Take profit at 1.34600, Stop loss at 1.35500

    NZDJPY

    NZDJPY has breached the short-term MA20 after moving past a level at 77.000. The pair has fallen into a trading range between a support at 77.000 and a resistance at 77.900. With RSI indicating that the market has entered the bullish zone, the price is expect to test the upper boundary.

    Trade suggestion

    Buy Stop at 77.400, Take profit at 77.900, Stop loss at 77.200

    BRENT

    Brent crude has been tracing a strong uptrend that has sent the price to the highest level since April 19th. Recent consistent up moves brought the market into an overbought zone, as indicate by the RSI index which has jumped as high as 76.59. However, ADX keeps rising, coupled with a widening gap between +DI and –DI lines, suggesting further advances.

    Trade suggestion

    Buy Stop at 54.10, Take profit at 55.00, Stop loss at 53.70

    Natural Gas

    Natural gas gapped up on Monday and has been trading around a resistance at 3.375. The price action has officially crossed over a couple of MAs and looked set to test a significantly important level at 61.8% Fibonacci retracement at 3.410.

    Trade suggestion

    Buy Stop at 3.380, Take profit at 3.410, Stop loss at 3.365


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36638

    Gap Shares Jump 4% On the back of Solid Same-store Sales

    Shares of Gap Inc. jumped more than 4 percent in Thursday’s extended session following the company’s quarterly report that showed better-than-expected results.

    The clothing and accessories retailer posted first-quarter earnings of $143 million, or 36 cents a share, up from $127 million, or 32 cents a share, a year earlier.

    While revenue was reported to be flat at $3.44 billion, same-store sales, which were led by an 8% jump in same-store sales at Old Navy, rose 2% in the three-month period to April. Analysts had expected earnings of 29 cents a share on revenue of $3.39 billion.

    Gap reaffirmed its 2017 EPS outlook of $1.95 to $2.05, which was in line with Wall Street’s forecast for full year EPS of $1.99.

    Trade suggestion

    Buy Stop at 24.20, Take profit 25.00, Stop loss at 23.80

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36637


    Daily Report on May 19, 2017

    Asian shares were mostly lower on Friday with MSCI’s broadest index of Asia-Pacific shares outside Japan slipping 0.1 percent, on track for a weekly loss of 0.5 percent. Japanese stocks reversed early gains to head back into a negative territory after having dropped 1.3 percent on Thursday, extending declines for the week to 1.8 percent.

    The yen rose 0.3 percent versus dollar to trade around 111.20 following a decline of 0.6 percent on Thursday. The Japanese currency looked set to close the week nearly 2 percent higher – the strongest weekly performance in a month.

    While Australia’s S&P/ASX 200 Index dropped 0.3 percent, South Korea’s Kospi was struggling for direction, up less than 0.1 percent. Chinese shares advanced with the Shanghai Composite adding 0.1 percent, up 0.4 percent for the week. Hong Kong’s Hang Seng inched 0.2 percent higher, set for a weekly rise of 0.1 percent.

    Crude prices rose on Friday, extending their gains for the third straight session amidst optimism that major producers will agree to cut production further to encounter with current global glut. After talks with his Russian counterpart, Alexander Novak, Algerian Energy Minister Noureddine Boutarfa on Thursday said that “Most of the countries support the proposition of Russia and Saudi Arabia to extend,”.

    Technicals

    USDMXN

    USDMXN reversed lower after having failed to retest a significant level at 19.25000. The pair has dropped to as low as 18.77072 with the price action falling below both short-term and long-term MAs. RSI has also moved past the 50 line, supporting the downtrend.

    Trade suggestion

    Sell Stop at 18.77000, Take profit at 18.60000, Stop loss at 18.87000

    EURUSD

    As can be seen from the price chart, the pair EURUSD has been supported by the short-term MA20. The currency pair is expected to extend their upward rally to retest a resistance at 1.11700 – the highest level since early November 2016, recorded on Thursday.

    Trade suggestion

    Buy Stop at 1.11200, Take profit at 1.11700, Stop loss at 1.11000

    BRENT

    Brent crude prices have breached a strong resistance at 52.60 after a short consolidation below this level. The commodity prices have been supported by two MAs lingering below the price action. The bull is dominating in the market, as indicated by RSI index. Further advances may send the price to as high as 54.00.

    Trade suggestion

    Buy Stop at 53.00, Take profit at 54.00, Stop loss at 52.50

    SILVER

    Silver soared higher following a correction below the short-term MA20. The price action crossed over the short-term MA20 from below, suggesting a strong uptrend. However, with the long-term MA50 hanging above, the metal may face a strong resistance. The level at 16.800 is within the sight.

    Trade suggestion

    Buy Stop at 16.700, Take profit at 16.800, Stop loss at 16.650

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36578

    Cisco Shares Nose-Dive after Forecast Points to A Decline in Current Quarter Revenue

    Shares of Cisco Systems Inc. plunged nearly 7.7 percent in after-hours trading on Wednesday after the technology conglomerate said it would cut more jobs and forecast current-quarter revenue to decline at a faster rate.

    The California-based networking giant reported net income of $2.52 billion, or 50 cents a share, on sales of $11.94 billion. Adjusted for one-time items, Cisco claimed earnings of 60 cents a share. Analysts had expected adjusted earnings of 58 cents a share on sales of $11.9 billion.

    After having lost 1% in revenue last quarter, Cisco expects revenue for the current quarter to drop by 4% to 6% on a yearly basis to fall in a range between $11.9 billion to $12.1 billion. This is well below market’s expectation for a sales total of $12.5 billion on average.

    Cisco also plans to cut 1,100 more jobs after having announced to slash a total of 5,500 last August.

    Trade suggestion

    Sell Stop at 31.20, Take profit 30.50, Stop loss at 31.50

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36577

    Sterling Jumps More than 0.4% After U.K. Retail Sales Data Release

    British Pound advanced nearly 0.45 percent versus the U.S. dollar in morning session on Thursday after data showed U.K. retail sales rebounded in April.

    The currency pair GBPUSD jumped higher to trade around 1.30300 – the highest level since September 30th, 2016 after a monthly report released by the Office for National Statistics showed U.K. retail sales grew by 2.3% on the month in April. This was not only a reversal from a steep quarterly decline in the first three months of the year but also well above the 1.5% growth expected by economists.

    On a yearly basis, sale jumped 4.0%, also significantly more than analysts’ expectations calling for a growth rate of 2.3%. According to the reports, sales was boosted by warm weather that encouraged shoppers to purchase gardening tools and home improvements.

    Trade suggestion

    Buy Stop at 1.30300, Take profit 1.30700, Stop loss at 1.30100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36576

    Daily Report on May 18, 2017

    Asian shares slumped on Thursday after U.S. equities plunged by the most since September on Wednesday. S&P 500 Index plummeted by S&P 500 Index – its worst daily loss since September 9th – in the last session. Meanwhile, the Dow Jones Industrial Average lost 372.82 points and the Nasdaq Composite Index dropped 2.6 percent, marking its sharpest decline since June 24th.

    The MSCI Asia Pacific Index experienced the biggest one-day drop since April 6th, shedding 0.8% on Thursday. Japan’s Topix led losses in the region, slumping 1.5 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi Index lost 1.3 percent and 0.5 percent, respectively while Hong Kong’s Hang Seng Index and Hang Seng China Enterprises Index also found themselves in the red.

    According to report released by the Australian Bureau of Statistics earlier on the day, the country’s jobless rate fell to its lowest in four months in April. Indeed, the unemployment rate dropped to 5.7 percent, well below analysts’ expectations for a steady 5.9 percent. However, the number of people with full-time work declined by 11,600.

    Crude oil price were struggling for direction on Thursday. The U.S. Energy Information Administration on Wednesday reported domestic crude inventories plunged by 1.8 million barrels to 520.8 million barrels for the week to May 12.

    Technicals

    AUDCAD

    With upward support from a couple of MAs, AUDCAD surged steeply to surpass the 23.6% Fibonacci retracement. After a sharp rise, the pair fell into a correction. However, RSI has inched to as high as 62.57, suggesting a strong uptrend in the market. A resistance at 1.02000 is within the sight.

    Trade suggestion

    Buy Stop at 1.01600, Take profit at 1.02000, Stop loss at 1.01400

    GBPCHF

    GBPCHF has been moving in a narrow range around a support at 1.27000 – the level that forced the pair to reverse higher earlier this week and on April 21st. This seems a strong support. Nevertheless, the market has been overwhelmed in bearish momentum, which may send the price to as low as 23.6% Fibonacci level.

    Trade suggestion

    Sell Stop at 1.26800, Take profit at 1.26200, Stop loss at 1.27100

    SILVER

    Silver retreated from a firm resistance at 17.000 and sent its price action below both long-term and short-term MAs. The RSI index fell below the 50 line for the first time since last week, indicating a strong downtrend. Silver may fall as low as 61.8% Fibonacci level.

    Trade suggestion

    Sell Stop at 16.740, Take profit at 16.600, Stop loss at 16.800

    EURO 50

    EURO 50 index plunged sharply, breaking out of a period of moving sideways around the level 3640.00. The short-term MA20 has converged with the short-term MA50 from above, suggesting a reversal into a downtrend. ADX index is soaring with a sharp rise from –DI line. In the event of continual downtrend, the stock benchmark may test a support at 3505.00.

    Trade suggestion

    Sell Stop at 3550.00, Take profit at 3505.00, Stop loss at 3570.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36486

    AUD/JPY signal by Capital Street FX

    From GMT 15:00 17/05/2017
    Till GMT 21:00 17/05/2017

    Sell at 82.700
    Take profit at 82.000
    Stop loss at 83.000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36483

    Japanese Yen Extends Upward Rally versus Dollar As Global Shares Tumble

    Japanese Yen extended its gains versus its American counterpart in Asian trading session on Wednesday amidst declines in global stock markets which were spurred by U.S. politic turmoil.

    The Yen added 0.5 percent in early trade after having jump 0.6 percent on Tuesday as investors flocked into safe-haven assets. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.5 percent with Japan’s Nikkei .N225, Australia’s S&P/ASX 200 Index, South Korea’s Kospi index and Singapore’s Straits Times index all declining.

    Contracts on the S&P 500 Index also found themselves in a downtrend in Asia on the back of reports that U.S. President Donald Trump asked FBI Director James Comey to end a probe into former National Security Adviser Michael Flynn. The U.S. equities and the greenback had already been in negative territory after a report alleging the president to share terrorism intelligence with Russian officials.

    Trade suggestion

    Sell Stop at 112.400, Take profit 112.000, Stop loss at 112.600


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36481

    Target Shares Surge High in Premarket Trading Following Better-than-expected Quarterly Results

    Shares of Target Corp. jumped more than 6 percent in premarket trading on Wednesday after the company reported adjusted earnings and sales in the last quarter outstripped markets’ forecasts.

    The retailer earned $681 million, or $1.23 a share, compared with $632 million, or $1.05 a share, a year ago. Adjusted for one-time items, net earnings were $1.21, topping Wall Street’s expectations.

    Sales were reported to come in at $16.02 billion, slightly lower than $16.19 billion recorded a year ago. However, the result still beat market forecast of $15.62 billion. The company forecasts adjusted earnings for the second quarter to fall in a range from 95 cents to $1.15 a share. Economists expect adjusted earnings to reach $1 a share.

    Trade suggestion

    Buy Stop at 56.80, Take profit 58.00, Stop loss at 56.20

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36479


    Daily Report on May 17, 2017

    Asian equities lost ground on Wednesday with MSCI’s broadest index of Asia-Pacific shares outside Japan losing 0.5 percent while contracts on the S&P 500 Index also found themselves in a downtrend in Asia on the back of reports that U.S. President Donald Trump asked FBI Director James Comey to end a probe into former National Security Adviser Michael Flynn.

    The U.S. equities and the greenback had already been in negative territory after a report alleging the president to share terrorism intelligence with Russian officials.

    As investors flocked into safe-haven assets including Japanese Yen, Japan’s Topix shed 0.6 percent. Australia’s S&P/ASX 200 Index slid 1 percent while Australia’s S&P/ASX 200 Index dropped 0.4 percent and Singapore’s Straits Times Index declined by 0.6 percent. Futures on the S&P 500 Index plunged by 0.6 percent, extending the downtrend after reversing from Tuesday’s all-time high of 2,405.77.

    Crude prices lost around 1 percent on Monday following weekly data that pointed to an increase in U.S. crude inventories. The American Petroleum Institute (API) on Tuesday reported that U.S crude stockpiles rose by 882,000 barrels in the week ending May 12 to 523.4 million. Analysts had expected for a decrease of 2.4 million barrels.

    The U.S. Energy Information Administration is scheduled to report its data later on the day with markets expecting a drop by 2.67 million barrels last week. OPEC’s internal Economic Commission Board is due to meet in Vienna on Wednesday to discuss the market in preparation for the group’s formal meeting scheduled on May 25.

    Technicals

    NZDUSD

    NZDUSD has been supported by a couple of MAs. The pair retested a high at 0.69160 recorded on Monday. Both RSI and ADX indices are soaring, indicating a strong bullish force in the market. The price is heading upward in an attempt to test a major resistance at 38.2% Fibonacci retracement.

    Trade suggestion

    Buy Stop at 0.69200, Stop loss at 0.69600, Take profit at 0.69000

    USDCHF

    USDCHF has been tracing a dramatically sharp downtrend that sent the pair from as high as 1.01000 to as low as 0.98300 – a plunge of 270 pips. Although RSI indicates the pair has entered the oversold zone, ADX keeps edging higher. However, the pair is expected to experience a reversal as investors may buy at low prices. Therefore, 38.2% Fib.level is expected to be a firm support.

    Trade suggestion

    Sell Stop at 0.98300, Stop loss at 0.97800, Take profit at 0.98500

    COFFEE

    Coffee prices have been on a downtrend under downward pressure from two MAs hanging above the price action. The commodity has tested a support at 130.80 where it had to reverse higher on April 21st and 25th. While RSI has nearly entered the oversold zone, ADX is soaring with a widening gap between –DI and +DI lines, suggesting further declines.

    Trade suggestion

    Sell Stop at 130.80, Stop loss at 128.50, Take profit at 132.00

    GOLD

    Gold is on a course to retest the 38.2% Fibonacci level after having broken out of a short consolidation around 1239.00. With two MAs lingering below the price action and indices that confirm the uptrend, the precious metal may soar to a strong resistance at 1250.00.

    Trade suggestion

    Buy Stop at 1244.00, Stop loss at 1250.00, Take profit at 1241.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36412

    Dollar Hit by Weak Data Political Turmoil, Euro Soars Above 1.10000 Significant Level

    The Euro moved past the 1.10 handle versus the U.S. dollar for the first time since early November on Tuesday as the greenback was hit hard by concerns over U.S. political turmoil while the single currency strengthened after upbeat economic data released earlier on the day.

    The pair EURUSD jumped nearly 1% to as high as 1.10800 – the highest level since November 8th as the dollar lost ground after weaker-than-expected U.S. housing data which showed building permits decreased 2.5% on a yearly basis to 1.23 million unit. Analysts had forecast a rise to 1.27M units. Meanwhile, U.S. President Donald Trump was alleged to disclose highly classified information of terrorism intelligence to Russia’s foreign minister.

    In terms of the Eurozone, the latest growth figures released this morning showed the Eurozone economy expanded at a steady pace of 0.5 percent on a quarterly basis, which was in line with expectations.

    Trade suggestion

    Buy Stop at 1.10800, Take profit 1.11400, Stop loss at 1.10500


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36411

    EUR/AUD signal by Capital Street FX

    From GMT 02:50 16/05/2017
    Till GMT 21:00 16/05/2017

    Buy at 1.48200
    Take profit at 1.48700
    Stop loss at 1.48000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36410

    Shares of Home Depot Advance After Upbeat Earnings Report and Rosy Outlook

    Shares of Home Depot Inc. advanced on Tuesday after the company raised its profit outlook for the year and reported quarterly earnings that beat estimates.

    The Atlanta-based company said it earned net income of $2.0 billion, or $1.67 a share, in the first quarter. This was up from $2.8 billion, or 41.44 a share, in the year-earlier period. Sales were said to rise to $23.9 billion from $22.8 billion recorded one year ago. The result topped markets’ forecast calling for EPS of $1.61 and sales of $23.8 billion.

    According to the quarterly earnings report, same-store sales rose 6%, beating analysts’ expectation for a rise of 5.64%. Home Depot forecasts total sales and same-store sales to grow 4.6% in the fiscal year 2017. Meanwhile, EPS outlook is raised to $7.15, up from $7.13 previously, given anticipated share buybacks program.

    Trade suggestion

    Buy Stop at 159.00, Take profit 160.00, Stop loss at 158.50


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36409


    Daily Report on May 16, 2017

    Asian shares extended their gains on Tuesday with bullish sentiment boosted by U.S. stock indices that soared to fresh highs on Monday on the back of a surge in crude oil futures prices. The MSCI Asia Pacific Index increased 0.2 percent, on course for the highest closing level since May 2015.Stock benchmark indexes in Australia and Japan climbed after the S&P 500 Index closed above 2,400 for the first time in Monday’s session.

    Indeed, Australia’s S&P/ASX 200 advanced 0.2 percent while Japan’s Topix rose 0.3 percent. Those gains offset losses in China shares which had surged on Monday amidst optimism over Beijing’s infrastructure spending program. While The Shanghai Composite Index dropped 0.7 percent and the Hang Seng Index shed 0.3 percent.

    According to Reserve Bank of Australia’s minutes of this month’s policy meeting which was released Tuesday in Sydney, the central bank stated that its monetary policy settings continued to be supported by moderate economic growth coupled with a gradual pickup in inflation. The RBA said its forecast that core inflation would pick up to around 2 percent by 2018 was cemented by March consumer price data. Meanwhile, jobs and housing remained key concerns.

    U.S. WTI prices added 0.6 percent to $49.12 a barrel on Tuesday after having soared by 2.1 percent on Monday. Crude oil futures prices rose for a fifth day as investors considered comments from Saudi Arabia and Russia officials that supported an extension of output cuts.

    Technicals

    AUDCAD

    AUDCAD has been moving sideways below the 23.6% Fibonacci retracement since last Friday. The unclear trend in the market caused the ADX index to inch lower. However, the pair looks set to trade lower as the market remains in the bearish territory, as indicated by RSI index. A support at 1.00300 may be tested.

    Trade suggestion

    Sell Stop at 1.00900, Stop loss at 1.00300, Take profit at 1.01200

    BRENT

    Brent crude reversed higher after a short correction as the market was brought into an overbought zone following a sharp surge that sent the price to the highest level since April 26th. The commodity price may surge higher to test a resistance at 53.00 with both RSI and ADX rising.

    Trade suggestion

    Buy Stop at 52.00, Stop loss at 53.00, Take profit at 51.50

    Coffee

    As can be seen from the price action, the price has been depressed by two MAs that hanging above the price action. Coffee price is heading lower to a support at 130.60 with a bearish momentum strengthening in the market, as indicated by RSI index that has reached as low as 40.28.

    Trade suggestion

    Sell Stop at 132.60, Stop loss at 130.60, Take profit at 133.60

    SILVER

    Silver has been tracing an uptrend with upward support from two MAs lingering below the price action, especially the short-term MA20. Both ADX and RSI indices are soaring, suggesting a strong bullish force in the market. The bull is likely to send the metal price to as high as 16.840.

    Trade suggestion

    Buy Stop at 16.740, Stop loss at 16.840, Take profit at 16.690

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36328

    USD/CAD signal by Capital Street FX
    From GMT 05:50 15/05/2017
    Till GMT 21:00 15/05/2017
    Sell at 1.36750
    Take profit at 1.36400
    Stop loss at 1.36900

    GBP/CHF signal by Capital Street FX
    From GMT 16:25 15/05/2017
    Till GMT 21:00 15/05/2017
    Sell at 1.28600
    Take profit at 1.28000
    Stop loss at 1.28900

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36327

    U.S. WTI Futures Extend Gains After Saudi Arabia and Russia Signal Further Output Cut

    Crude oil prices advanced by more than 2 percent on Monday, on the back of a meeting between Saudi Energy Minister and his Russian counterpart in Beijing that helped mount the possibility for a crude production cut to be extended.

    While Brent crude moved past $52.00 per barrel, U.S. West Texas Intermediate (WTI) jumped above $49.00 per barrel. After the meeting on Monday, the energy ministers of the world’s two biggest producers Saudi Arabia and Russia, which are responsible for about 20 million bpd of crude, equivalent to one-fifth of global consumption, said that a joint deal to cut crude supplies further might be extended from the middle of this year until the end of March 2018.

    OPEC is due to meet in Vienna, Austria, on May 25.

    Meanwhile, according to energy services firm Baker Hughes Inc, U.S. energy firms continued to add oil rigs last week. Drillers added nine oil rigs in the week to May 12, extending the rally to a 17th week in a row. The increase sent the total count up to 712 – the highest reading since April 2015. However, the pace of the rally has declined. The total number of the last four weeks’ additions fell to the lowest since March.

    Trade suggestion

    Buy Stop at 49.00, Take profit 50.00, Stop loss at 48.50


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36324

    Daily Report on May 15, 2017

    Asian shares soared to a two-year high on Monday with MSCI’s broadest index of Asia-Pacific shares outside Japan rising 0.3 percent to its highest level since June 2015. European stocks also advanced, extending a three-week rally. Equities were boosted thanks to optimism over China’s international infrastructure plans released by President Xi Jinping on Sunday.

    Over the weekend, Xi laid out a framework for Chinese-style globalization, pledging 540 billion yuan ($78 billion)in financing. Particularly, 100 billion yuan will be spent on China’s Silk Road Fund, 380 billion yuan on new lending for participating nations, and 60 billion yuan in coming years to developing countries and international organizations that join the program.

    Crude oil prices advanced by more than 2 percent on Monday, on the back of a meeting between Saudi Energy Minister and his Russian counterpart in Beijing that helped mount the possibility for a crude production cut to be extended.

    While Brent crude moved past $52.00 per barrel, U.S. West Texas Intermediate (WTI) jumped above $49.00 per barrel. After the meeting on Monday, the energy ministers of the world’s two biggest producers Saudi Arabia and Russia, which are responsible for about 20 million bpd of crude, equivalent to one-fifth of global consumption, said that a joint deal to cut crude supplies further might be extended from the middle of this year until the end of March 2018.

    Technicals

    EURUSD

    EURUSD has broken out of a period of moving sideways above the short-term MA20. The pair has officially brought its price action above these two MAs and looked set to send the price higher. Both RSI and ADX indices are rising, suggesting a strong bullish force in the market.

    Trade suggestion

    Buy Stop at 1.09500, Take profit at 1.10000, Stop loss at 1.09300

    NZDUSD

    NZDUSD has been soaring since it reversed higher from a support at 0.68600. Recent up moves helped the price action cross over two MAs from below. The pair is expected to retest a resistance at 0.69500 as the RSI index that has moved past the 50 line indicates an overwhelming bullish momentum in the market.

    Trade suggestion

    Buy Stop at 0.69100, Take profit at 0.69500, Stop loss at 0.68900

    BRENT

    Brent crude eventually breached a strong resistance at 23.6% Fibonacci retracement after having trade below this level in the second half of last week. RSI has entered the overbought zone, while ADX continued edging higher. A widening gap between +DI and –DI lines suggests further advances.

    Trade suggestion

    Buy Stop at 52.10, Take profit at 53.00, Stop loss at 51.70

    GOLD

    As can be seen from the price chart, gold has been supported by the short-term hourly MA20. The precious metal price continued to reverse higher after hitting this dynamic support and is heading higher in an attempt to retest a resistance at 1236.00. RSI and ADX are inching higher, confirming the uptrend.

    Trade suggestion

    Buy Stop at 1232.00, Take profit at 1236.00, Stop loss at 1230.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36196

    AUD/CAD signal by Capital Street FX

    From GMT 09:50 11/04/2017
    Till GMT 21:00 11/04/2017

    Sell at 1.00800
    Take profit at 1.00300
    Stop loss at 1.01000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36195

    Oil Futures Prices Extend Their Up Moves Following A Sharp Drop in U.S. Inventories

    Crude oil futures advanced on Thursday, extending their upbeat moves on Wednesday which came after a steep drop in U.S. inventories and comments from the Algerian energy ministry.

    U.S. crude and global benchmark Brent crude both rose 0.4 percent to $47.55 and $50.45 a barrel, respectively on Thursday. According to data released by the U.S. Energy Information Administration on Wednesday, U.S. crude stockpiles fell 5.2 million barrels in the week to May 5 as imports dropped sharply.

    This was not only their biggest one-week drawdown since December but also sent crude stocks to 522.5 million barrels – the lowest since February.

    After a meeting with his Iraqi counterpart in Baghdad on Wednesday, Algeria’s Energy Minister Nouredine Bouterfa said that both sides were in favour of extending OPEC and non-OPEC producers’ deal on global oil supply cuts for a further six months. OPEC is due to meet later this month in Vienna.

    Trade suggestion

    Buy Stop at 50.40, Take profit 51.00, Stop loss at 50.10


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36194

    Natural Gas Futures Jump High after Smaller-than-expected Rise in U.S. supplies

    Natural gas futures prices jumped nearly 2.8 percent on Thursday after data from the U.S. Energy Information Administration showed a smaller-than-expected rise in U.S. supplies.

    Natural gas futures prices for June delivery rose to $3.435 per million British thermal units on Thursday – their highest level since January 26th. Data by the EIA showed that U.S. natural gas supplies rose by 45 billion cubic feet for the week ended May 5. Analysts had expected a build of 61 billion to 62 billion cubic feet.

    As stated by the report, total stocks now stand at 2.301 trillion cubic feet, down 372 billion cubic feet from a year ago, but 275 billion cubic feet above the five-year average.

    Trade suggestion

    Buy Stop at 3.430, Take profit 3.490, Stop loss at 3.400

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36193

    Daily Report on May 11, 2017

    Asian shares remained on their uptrend with upbeat sentiment fueled by global equities that remained at record levels and a rebound in crude oil futures prices that helped boost energy stocks. Stock benchmark indices in New Zealand and South Korea surged the most while Hong Kong’s Hang Seng advanced for a fourth straight day.

    Whereas South Korea’s Kospi pared losses from Wednesday’s declines, rising 0.7 percent on Thursday, the Shanghai Composite Index shed 0.4 percent, heading for a seventh decline in the last eight sessions.

    New Zealand’s S&P/NZX 50 jumped 0.9 percent to the highest level since September and its currency fell to its lowest level since June 2016 against the dollar after the Reserve Bank of New Zealand kept its benchmark rate unchanged. The central bank said it would keep rates there for an extended period given forecast pointing to slow inflation rate. The bank projected that inflation will decelerate to 1.1 percent in the first quarter of 2018.

    Crude oil futures advanced on Thursday, extending their upbeat moves on Wednesday. According to data released by the U.S. Energy Information Administration on Wednesday, U.S. crude stockpiles fell 5.2 million barrels in the week to May 5 as imports dropped sharply. This was not only their biggest one-week drawdown since December but also sent crude stocks to 522.5 million barrels – the lowest since February.

    After a meeting with his Iraqi counterpart in Baghdad on Wednesday, Algeria’s Energy Minister Nouredine Bouterfa said that both sides were in favour of extending OPEC and non-OPEC producers’ deal on global oil supply cuts for a further six months. OPEC is due to meet later this month in Vienna.


    Technicals

    USDCAD

    USDCAD has crossed over a couple of MAs from below and may complete a double-bottom pattern as the pair is attempting to surpass the neck level. In the event of continual up moves, the pair is expected to hit a firm resistance at 1.37900 as RSI is showing a bullish momentum in the market.

    Trade suggestion

    Buy Stop at 1.37400, Take profit at 1.37900, Stop loss at 1.37200

    SILVER

    Silver has been tracing an uptrend and has entered a trading range between a support at 16.230 and a resistance at 16.430. With support from two MAs hanging below the price action an rising RSI and ADX indices, the pair is anticipated to reach an upper boundary of the trading range.

    Trade suggestion

    Buy Stop at 16.270, Take profit at 16.430, Stop loss at 16.200

    SUGAR

    Sugar prices have been soaring since it reversed higher from a support at 61.8% Fibonacci retracement. The pair broke out of a sideways period and also brought its price action above two MAs. The short-term MA20 has crossed over the long-term MA50, suggesting a strong uptrend.

    Trade suggestion

    Buy Stop at 15.85, Take profit at 16.15, Stop loss at 15.70

    Euro 50

    As can be easily seen from the price chart, Euro 50 stock index has been supported by the short-term MA50 and looks set to inch higher to retest an all-time record high at 3680.00. RSI index is rising, suggesting a dominating bullish force in the market.

    Trade suggestion

    Buy Stop at 3650.00, Take profit at 3680.00, Stop loss at 3645.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36129

    NZD/JPY signal by Capital Street FX

    From GMT 11:00 10/04/2017
    Till GMT 21:00 10/04/2017

    Buy at 78.900
    Take profit at 79.400
    Stop loss at 78.700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36128

    Shares of Nvidia Take Off With A Sharp Jump in Data-center Business

    Shares of Nvidia Corp. surged noticeably more than 10 percent in after-hours trading on Tuesday after the gaming company reported earnings easily beat estimates and that its can move beyond the core gaming business and find success elsewhere.

    The California-based technology company posted net income of $507 million, or 79 cents a share, on sales of $1.94 billion, which were much higher than economists’ expectations calling for earnings of 66 cents a share on sales of $1.91 billion.

    However, revenue from its core videogame segment produced less revenue than expected in the first quarter of its 2018 fiscal year. Nvidia’s gaming business was reported to produce $1.03 billion in gaming sales against average forecasts of $1.13 billion.

    However, thanks to Nvidia’s artificial-intelligence advances, shares of the company jumped drastically. Nvidia reported more than $400 million in quarterly revenue for the data-center business and better-than-expected performance from the segment focused on self-driving cars and other automotive efforts.

    Trade suggestion

    Buy Stop at 113.80, Take profit 115.00, Stop loss at 113.20

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36127

    Shares of Mylan Increase Even Though Revenue Misses Forecasts

    Shares of Mylan NV jumped more than 2.8 percent in premarket trade on Tuesday after the pharmaceutical company reported first-quarter profit that beat estimates.

    The Pennsylvania-based company said it earned $66.4 million or 12 cents per share in the latest quarter, up from $13.9 million or 3 cents per share in the year-earlier period. Adjusted for one-timed items, EPS were 93 cents against economists’ forecast of 92 cents.

    However, revenue only rose to $2.72 billion from $2.19, well below analysts’ consensus of $2.82 billion. The decline came as a result of a drop in sales of the EpiPen allergic reaction treatment.

    The company maintained its March guidance for full year 2017 revenues between $12.25 billion and $13.75 billion and earnings between $2.8 billion and $3.0 billion.

    Trade suggestion

    Buy Stop at 39.00, Take profit 40.00, Stop loss at 38.50


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36126

    Daily Report on May 10, 2017

    Asian shares advanced on Wednesday, led by gains in equities in Hong Kong. The Hang Seng rose 0.6 percent while the Hang Seng China Enterprises Index added 1.1 percent. Australia’s S&P/ASX 200 and the Shanghai Composite Index also climbed, adding 0.5 percent and 0.1 percent, respectively. Likewise, Japan’s Topix index increased 0.2 percent and the Nikkei 225 climbed 0.3 percent.

    According to Chinese National Bureau of Statistics, April producer price inflation cooled for a second straight month on the back of tumbling iron ore and coal prices. The producer price index (PPI) was reported to rise 6.4 percent from a year earlier, down from the previous month’s gain of 7.6 percent and falling short of economists’ expectations for a 6.9 percent rise.

    Also released by the National Bureau of Statistics on Wednesday, China’s consumer price index (CPI) rose 1.2 percent from a year earlier, advancing from March’s 0.9 percent and above analysts’ forecasts.

    Crude prices edged higher on Wednesday after a report saying that Saudi Arabia would cut supplies. State-owned Saudi Aramco was reported to likely reduce supplies to Asian customers by about 7 million barrels in June as part of OPEC’s agreement to reduce production.

    However, gains in crude oil futures prices have been threatened by higher crude output from the United States which would offset attempts from other major oil producers to wipe out global glut. As stated by the U.S. Energy Information Administration, U.S. crude production may rise by more than previously expected in 2017 to 9.31 million barrels per day from 8.87 million bpd in 2016, a 440,000 bpd increase.

    Technicals

    GBPCHF

    GBPCHF has been moving sideways around eight-month highs at 1.30400 after having reached this level yesterday. The market, as a result, entered the overbought zone and fell into a consolidation. In the event of continual up moves, the pair is expected to test a major resistance at 1.31000.

    Trade suggestion

    Buy Stop at 1.30400, Take profit at 1.31000, Stop loss at 1.30100

    EURUSD

    EURUSD sent its price action below both short-term and long-term MAs yesterday and continued to extend its down moves after a period of moving sideways. While RSI is heading lower, ADX is edging higher, suggesting further declines. A support at 1.08250 is within the sight.

    Trade suggestion

    Sell Stop at 1.08850, Take profit at 1.08250, Stop loss at 1.09150

    SILVER

    Silver has been tracing a dynamic support at the short-term MA20 and kept heading downwards. The precious metal hit the lowest level since early January and retreated after having sent the market into the oversold territory. With pressure from two MAs hanging above the price action, the price is expected to test a support at 16.000.

    Trade suggestion

    Sell Stop at 16.150, Take profit at 16.000, Stop loss at 16.200

    CAC40

    CAC 40 twisted around a support at 5390.00 yesterday but remained to be supported by two MAs lingering below the price action. RSI which is at as high as 59.74 indicated that the market is still in the bullish zone. A high at 5470.00 is expected to be hit.

    Trade suggestion

    Buy Stop at 5400.00, Take profit at 5470.00, Stop loss at 5410.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36017

    EUR/NZD signal by Capital Street FX

    From GMT 04:50 08/05/2017
    Till GMT 21:00 08/05/2017

    Sell at 1.58300
    Take profit at 1.57500
    Stop loss at 1.58700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #36016

    Silver Hovers Around Four-month Lows, Pressurised by A Strong Greenback

    Silver reversed lower on Monday, remaining near four-month lows as the greenback gained ground versus most of its peers and thus put pressure on commodity and precious metals which are quoted by dollar.

    Silver futures price for July delivery edged nearly 0.1 percent lower after having lost 5.7 percent last week – their worst weekly decline since the week ended October 7th, 2017. The metal was weighed down by a strong dollar that makes assets traded in the greenback less affordable for buyers using other currencies.

    Cleveland Fed President Loretta Mester on Monday said that the central bank should continue raising interest rates as its employment goal had been met and inflation goal had been so close. Speaking at the Chicago Council on Global Affairs, Mester, a hawkish Fed policymaker, claimed that while risks are “roughly balanced”, the Federal Reserve should not delay further policy tightening.

    Trade suggestion

    Sell Stop at 16.230, Take profit 16.130, Stop loss at 16.280


    * All trading involves risk. Only risk capital you are prepared to lose

  • #36015


    Daily Report on May 08, 2017

    Most Asian markets advanced on Monday, tracing upbeat sentiment from U.S. stocks which closed at a record on Friday on the back of better-than-forecast data on American jobs. While Japanese shares rallied after reopening following a three-day holiday, Chinese stocks continued to trace a selloff that by far has wiped out more than $400 billion from the value of local shares.

    The MSCI Asia Pacific Index jumped 1.3 percent to the highest since June 2015, led by gains of equities in Tokyo and Seoul. The Topix index rose the most since early January, adding 2.3 percent to trade at the highest since December 2015. Likewise, South Korea’s Kospi index soared 2.3 percent, the most since September 2015, to a fresh record. By contrast, the Shanghai Composite Index dropped another 0.8 percent to trade at the lowest level since October.

    While the euro retreated following Emmanuel Macron’s victory as France’s next president, European stocks also found themselves in a negative territory as commodities producers were weighed down by the declines in prices of raw materials. The Stoxx Europe 600 slipped 0.1 percent in early trade.

    According to China government data released on Monday, the country’s imports rose 11.9 percent in April, cooling from March’s 20.3 percent rise and missing analysts’ expectations for an 18 percent rise. Exports also slowed from the previous month’s reading. The headline-figure only added 8.0 percent from a year earlier, falling short of expectations of 10.4 percent.


    Technicals

    NZDJPY

    NZDJPY has broken above a major resistance at 78.000 and is extending its uptrend in an attempt to test another firm resistance at 38.2% Fibonacci retracement. Both RSI and ADX indices are soaring higher, not to mention a widening gap between +DI and –DI lines, suggesting further advances.

    Trade suggestion

    Buy Stop at 78.200, Take profit at 78.600, Stop loss at 78.000

    GBPNZD

    GBPNZD has been trading sideways to lower around a major level at 38.2% Fibonacci retracement. The pair has also been under pressure from two MAs hanging above the price action. While RSI index is edging lower, ADX index has been soaring, suggesting a strong downtrend in the market.

    Trade suggestion

    Sell Stop at 1.86900, Take profit at 1.86000, Stop loss at 1.87300

    BRENT

    Brent crude gapped up in early on Monday but failed to retain its bullish momentum. Crude oil price retreated under downward pressure from the short-term MA20 and is likely to head lower to retest a six-month low at 46.62 recorded last week.

    Trade suggestion

    Sell Stop at 49.00, Take profit at 47.00, Stop loss at 50.00

    EURO50

    Euro 50 index retreated from all-time record high at 3680.80 and is facing a dynamic support at the short-term MA20. ADX reversed lower, showing a weakening downtrend in the market. In the event of further downtrend, the stock benchmark may test a support at 3610.00.

    Trade suggestion

    Sell Stop at 3640.00, Take profit at 3610.00, Stop loss at 3655.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #35957

    CAD/JPY signal by Capital Street FX

    From GMT 04:00 05/05/2017
    Till GMT 21:00 05/05/2017

    Sell at 81.300
    Take profit at 80.800
    Stop loss at 81.500

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35956

    Shares of CBS Jump After Quarterly Revenue and Profit Beat Analysts’ Estimates

    Shares of CBS Corp jumped nearly 2.6 percent in the extended session Thursday after the media company said its quarterly results topped Wall Street estimates thanks to higher content licensing and subscription fees.

    The New York-based company reported adjusted first-quarter earnings of $1.09 a share and revenue of $3.34 billion for the first quarter ended March 31. The most-watched U.S. TV network witnessed revenue from content licensing and distribution jumped 16 percent while those from cable TV operators and from its own streaming content also surged by more than 16.5 percent.

    According to CBS CEO Leslie Moonves, revenue from distributors and broadcast affiliates, which is expected to increase about 25 percent this year, will help offset losses in advertising revenue, which had dropped 23 percent to $1.6 billion last quarter from a year earlier and will continue to fluctuate from quarter to quarter, depending on events.

    Trade suggestion

    Buy Stop at 65.50, Take profit 67.00, Stop loss at 65.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35955

    Gold Under Pressure, Looking Set for The Largest Weekly Percentage Loss in Six Months

    Gold futures prices struggled for direction on Friday, on track for the largest weekly loss of the year so far. The precious metal has been pressured by a report showing a slowdown in demand for gold released on Thursday and hawkish comments from the Federal Reserve.

    Gold futures for June delivery looked set to close the week more than 3 percent lower, the largest weekly percentage loss since the week ended November 11th.

    The World Gold Council on Thursday reported that global central bank demand for the precious metal plunged by 27% in the first quarter compared to the same time a year ago. On a yearly basis, global gold investment demand also lost 34% for the quarter.

    The U.S. central bank kept its rate unchanged on Wednesday, emphasizing the strength of the labor market. That signaled the Fed might still on track for two more rate increases this year. Following the Federal Reserve’s confidence in the U.S. economy, April’s jobs report was seen to strengthen the possibility of the central bank to hike rates.

    Non-farm payrolls showed 211,000 people found new jobs in April, which sent the unemployment rate down to 4.4% from 4.5% recorded in the previous month.

    Trade suggestion

    Sell Stop at 1226.00, Take profit 1220.00, Stop loss at 1229.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #35954


    Daily Report on May 05, 2017

    Asian shares edged lower for a third consecutive day on Friday, weighed down by fresh falls in commodities. Chinese led losses in Asian shares while Japan and South Korea were closed for a holiday on Friday. The Shanghai Composite Index extended its downward rally, in line for a fourth weekly decline due to tighter financial regulations that weighed on banking shares.

    MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.8 percent on Friday to trade at its lowest level since April 25. As investors flocked into safe-haven assets, the Japanese Yen rose nearly 0.3 percent to dollar after rising 0.3 percent Thursday. A sharp slide in crude prices depressed energy companies’ stocks, boosting yen jump higher against most of its peers, including the greenback.

    The U.S. government will publish the Non-farm Payrolls later on the day with economists expecting the world’s largest economy may have added 190,000 jobs last month. Fed Chair Janet Yellen and her deputy Stanley Fischer are also due to speak on Friday.

    Crude oil futures prices fell further on Friday, losing 2 percent after tumbling in the previous session. Steep down moves sent the price to a five-month low. While OPEC and other producers seemed to rule out deeper supply cuts, U.S. oil production continued to march higher. U.S shale oil producers have boosted their production by over 10 percent to 9.3 million bpd since mid-2016.

    Technicals

    AUDNZD

    After reversing lower from a resistance at 1.08000, the pair AUDNZD has broken below a support at 50.0% Fibonacci retracement. While RSI is heading downwards, ADX is soaring, suggesting a strong downtrend in the market. The pair is expected to test a firm support at 1.06800.

    Trade suggestion

    Sell Stop at 1.07200, Take profit at 1.06800, Stop loss at 1.07400

    NZDJPY

    NZDJPY rebounded from a strong support at 77.000 and brought its price action above a short-term MA20. The pair is facing a dynamic resistance which is the long-term MA50. In the event of extended up move, the pair is likely to attempt a resistance at 78.000.

    Trade suggestion

    Buy Stop at 77.500, Take profit at 78.000, Stop loss at 77.300

    SUGAR

    Sugar has been moving sideways under 61.8% Fibonacci level after having fallen below this handle yesterday. An unclear trend in the market sent the ADX index lower but RSI remains in the bearish zone and continues to point downward, suggesting potentially further declines.

    Trade suggestion

    Sell Stop at 15.30, Take profit at 15.00, Stop loss at 15.45

    FTSE 100

    FTSE 100 has been moving sideways around a couple of MAs and trapped in a narrow trading range. The RSI index has moved past the 50 line while ADX index is soaring with a widening gap between +DI and –DI lines, indicating a surging bullish momentum.

    Trade suggestion

    Buy Stop at 7260.00, Take profit at 7300.00, Stop loss at 7240.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35904

    AUD/USD signal by Capital Street FX
    From GMT 05:00 04/05/2017
    Till GMT 21:00 04/05/2017
    Buy at 0.74100
    Take profit at 0.73700
    Stop loss at 0.74300


    EUR/CAD signal by Capital Street FX

    From GMT 17:00 04/05/2017
    Till GMT 21:00 04/05/2017
    Buy at 1.05900
    Take profit at 1.51600
    Stop loss at 1.59600

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35903

    Facebook Shares Plunge Even Though Earnings and Revenue Smash Estimates

    Shares of Facebook Inc declined by 2.5 percent in after-hours trading on Thursday after the company said its revenue might slump later this year after it stops increasing the frequency of marketing spots in the news feed in an attempt to avoid driving away users.

    The announcement hit investors hard and caused Facebook’s shares to reverse lower, paring gains added after the California-based company revealed its earnings and revenue that smashed estimates.

    Revenue for the three-month period to March 31st was reported to rise 49.3% to $8.03 billion, up from $5.38 billion in the same period last year. The result beat first-quarter revenue expectations calling for $7.83 billion. Net income reached $3.06 billion, or $1.04 per share, up from $1.74 billion, or 60 cents per share.

    The number of monthly active users jumped 17 percent to 1.94 billion while the number of daily active users climbed 18% to 1.28 billion. Analysts had expected the former to hit 1.91 billion and the latter to reach 1.256 billion.

    Trade suggestion

    Sell Stop at 148.00, Take profit 146.00, Stop loss at 149.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #35902

    Daily Report on May 04, 2017

    European shares advanced on Thursday, boosted higher by upbeat earnings results while Australian and Chinese stocks fell as metals prices declined. Indeed, the Euro Stoxx 50 index gained for a third day, rising 0.2 percent after first-quarter earnings from companies including HSBC Holdings Plc and Royal Dutch Shell Plc beat estimates. In Asian trading hours, Australia’s S&P/ASX 200 Index lost 0.3 percent whereas Hang Seng Index fell 0.3 percent.

    At the end of its two-day meeting on Wednesday, the Federal Reserve kept its benchmark interest rate unchanged as expected. However, the central bank emphasized the strength of the labor market instead of reiterating weak first-quarter economic growth, signaling that it might still on track for two more rate increases this year. According to the CME Group’s FedWatch Tool, Futures traders are now pricing in a 72 percent chance of a June rate hike, up from 63 percent before the Fed’s statement.

    As stated by a report from Markit, growth in China’s services sector cooled on April. China’s Caixin/Markit services purchasing managers’ index (PMI) fell to 51.5 last month from March’s 52.2. The index extended its downward rally to a fourth month in a row and marked its weakest growth pace since May 2016.

    Crude oil futures remained weak on Thursday after weekly data showed a smaller than expected decline in U.S. inventories. According to the Energy Information Administration, U.S. crude stockpiles fell by 930,000 barrels in the week to April 28. This was much less than analysts’ expectations for a decrease of 2.3 million barrels.

    Technicals

    GBPUSD

    GBPUSD reversed higher from the lowest level since April 26th. The pair is facing a resistance at 1.29000 after sending the market into a bullish zone, as indicated by RSI index that has moved past the 50 line. A major resistance at 38.2% Fibonacci is within the sight.

    Trade suggestion

    Buy Stop at 1.29000, Take profit at 1.29400, Stop loss at 1.28800

    EURJPY

    EURJPY has been chasing an uptrend since it reversed higher from a support at 23.6% Fibonacci level. The pair extended its up moves to a fifth session in a row, attempting to test another Fibonacci retracement at 0.0%. Both RSI and ADX are soaring, suggesting a strong uptrend.

    Trade suggestion

    Buy Stop at 123.400, Take profit at 124.000, Stop loss at 123.100

    NZDJPY

    As can be easily seen from the price chart, the pair NZDJPY has been supported by the short-term MA20. The price rebounded after hitting this dynamic support and is likely to march higher to reach a resistance at 78.000 with the market remaining in the bullish zone.

    Trade suggestion

    Buy Stop at 77.600, Take profit at 78.000, Stop loss at 77.400

    Dow Jones

    Dow Jones’ price action has crossed over the short-term MA20, extending its upward rally after a period of moving sideways to lower. As indicated by RSI index which has surged to as high as 62.88, the market remains in the bullish zone, signaling further advances.

    Trade suggestion

    Buy Stop at 21000.00, Take profit at 21050.00, Stop loss at 20975.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #35840

    USD/JPY signal by Capital Street FX
    From GMT 08:50 03/05/2017
    Till GMT 21:00 03/05/2017
    Buy at 112.200
    Take profit at 112.600
    Stop loss at 112.000

    EUR/AUD signal by Capital Street FX
    From GMT 16:30 03/05/2017
    Till GMT 21:00 03/05/2017
    Buy at 1.46600
    Take profit at 1.47200
    Stop loss at 1.46300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35838

    Depressed by Disappointing Earnings Results, Gilead Sciences Shares Edge Lower

    Shares of Gilead Sciences Inc. declined by more than 2.5 percent in the extended session on Tuesday after the biopharmaceutical company announced its quarterly earnings that fell short of Wall Street estimates.

    The California-based biotech company posted adjusted first-quarter earnings of $2.23 a share on revenue of $6.51 billion. Meanwhile, economists had expected earnings of $2.28 a share on revenue of $6.63 billion.

    Gilead maintained its guidance for the year of revenue of $22.5 billion to $24.5 billion, which excludes royalty revenue. The company’s outlook is not as optimistic as analysts’ expectation calling for total revenue of $24.73 billion.

    Trade suggestion

    Sell Stop at 66.85, Take profit 66.00, Stop loss at 67.20

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35837


    Daily Report on May 03, 2017

    Asian shares were mixed on Wednesday as investors were cautious after a poor earnings report of Apple Inc. and ahead of the Federal Reserve’s policy review and Friday’s jobs report. MSCI’s broadest index of Asia-Pacific shares outside Japan edged lower from a near-two-year high hit on Tuesday. While stocks in Singapore, Malaysia and Thailand were all higher, Chinese shares retreated almost 0.3 percent.

    Taiwan’s Taiex gained 0.2 percent with Hon Hai Precision Industry Co., the company that makes Apple’s iPhones, reversing higher and shrugging off its customer’s report on weaker sales. Markets are nervously waiting for rate announcement from the Federal Reserve that concludes its two-day meeting later on Wednesday.

    According to Statistics New Zealand, the country’s unemployment rate fell to 4.9 percent in the three months through March 31 from 5.2 percent in the December quarter. The reading was not only better than the 5.1 percent economists had penciled in but also marked the lowest level since the September quarter of last year. Employment was reported to grow 1.2 percent on a quarterly basis in first three months of the year while wage growth was steady at 0.4 per cent.

    Crude futures prices were struggling for direction on Wednesday as U.S. crude stocks fell last week. As stated by the American Petroleum Institute (API), U.S. crude inventories fell by 4.2 million barrels to 528.3 million barrels in the week ended April 28. The decrease was larger than expected. Analysts had forecast a drop of 2.3 million barrels last week. The U.S. government will release its Energy Information Administration (EIA) inventory data later on the day.

    Technicals

    EURAUD

    EURAUD has been supported by two MAs moving below the price action. The pair failed to break below the long-term MA50 and has crossed over the short-term MA20, looking set to march higher. EURAUD may surge as high as 1.46400 – the level recorded last Friday.

    Trade suggestion

    Buy Stop at 1.45600, Take profit at 1.46400, Stop loss at 1.45200

    AUDNZD

    AUDNZD has been tracing a steep down move which sent the pair from as high as 1.09300 to as low as 1.08000 – the lowest level since April 25th. The price action has also broken below both long-term and short-term MA, suggesting a strong downtrend. A support at 38.2% Fibonacci level is within the sight.

    Trade suggestion

    Sell Stop at 1.08000, Take profit at 1.07600, Stop loss at 1.08200

    Natural Gas

    Natural Gas continued to drop lower after a short consolidation following a sharp down move. The market has entered the bearish zone, as indicate by RSI index which fell to as low as 39.59. With downward pressure from two MAs hanging above the price action, the commodity is expected to test a support at 3.130.

    Trade suggestion

    Sell Stop at 3.170, Take profit at 3.130, Stop loss at 3.190

    BRENT

    Brent crude has been pressurized by two MAs that are lingering above the price action. RSI remains in the bearish zone, indicating that the market has been dominated by sellers. The commodity is expected to inch lower to retest a low at 50.10.

    Trade suggestion

    Sell Stop at 50.80, Take profit at 50.10, Stop loss at 51.10

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35796

    AUD/JPY signal by Capital Street FX

    From GMT 03:30 02/05/2017
    Till GMT 21:00 02/05/2017

    Buy at 84.400
    Take profit at 85.000
    Stop loss at 84.100

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35795

    The Aussie Extends Its Rally Against The Greenback After the RBA Holds Rate

    The Australian dollar extended an advance versus its American counterpart on Tuesday after the Reserve Bank of Australia’s decision on policy.

    The pair AUDUSD rose another 0.35 percent after having increased for two days in a row. The pair has been boosted partly by a weak greenback as U.S. economic data released on Monday missed market’s expectation.

    According to the U.S. Bureau of Economic Analysis, U.S. consumer spending was unchanged in March for a second straight month. Due to the weak domestic demand in the first quarter, the result was below analysts’ forecast calling for a 0.2 percent advance and directly sent the overall monthly inflation rate to a negative territory for the first time in a year.

    The core PCE index fell 0.1% in March compared with the previous month, in line with expectations. On a yearly basis, the rate declined to 1.6% from 1.8%.

    US manufacturing was also reported to grow slower than forecast in April. As stated by the Institute for Supply Management, the Institute for Supply Management slid to 54.8 from 57.2, missing expectation for a reading of 56.5 due to less hiring and a slower pace of incoming orders.

    On the other hand, Australia’s central bank left its cash rate at 1.5 percent on Tuesday. The result came amidst optimism over faster domestic inflation and an upswing in global growth.

    Trade suggestion

    Buy Stop at 0.75500, Take profit 0.76000, Stop loss at 0.75300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35794

    Shares of CVS Reverse Higher As First-Quarter Earnings Results Top Estimates

    Shares of CVS Health Corp. added more than 1.6 percent in premarket trading on Tuesday after briefly losing more than 1% following the company’s quarterly earnings report.

    CVS posted first-quarter net income of $953.0 million, or 92 cents per share, down from $1.15 billion, or $1.04 per share, for the same period last year. Adjusting for one-time items, earnings per share was $1.17, beating the $1.10 forecast by analysts.

    The retail and health care company witnessed revenue rose to $44.5 billion in the three-month period to March from $43.2 billion recorded one year ago. The result also beat market’s expectation of $44.2 billion.

    CVS expects EPS for the second quarter to reach $1.15 to $1.19 and anticipates full-year EPS of $5.02 to $5.18.

    Trade suggestion

    Buy Stop at 83.30, Take profit 84.00, Stop loss at 83.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35793

    Daily Report on May 02, 2017

    Asian shares climbed on Tuesday following a reopening after holidays. The MSCI Asia Pacific Index returned to the highest level since June 2015, adding 0.5 percent with gains led by South Korea’s Kospi index which advanced 0.8 percent. The index hit an intra-day high that passed its all-time closing high reached on May 2, 2011. While the Hang Seng rose 0.3 percent, the Shanghai Composite Index lost stream after four straight days of gains, declining 0.2 percent.

    A weak Japanese Yen boosted the Topix index higher. The Japanese stock benchmark added 0.7 percent, advancing for a second day to the highest since March. Tokyo markets will be closed for holidays in observance of Constitution Day over the next three days.

    The Australian dollar extended an advance versus its American counterpart on Tuesday after the Reserve Bank of Australia’s decision on policy. Australia’s central bank left its cash rate at 1.5 percent on Tuesday. The result came amidst optimism over faster domestic inflation and an upswing in global growth.

    Markit on Tuesday reported China’s factory sector lost momentum in April as domestic and export demand faltered. The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) fell to 50.3 in April from March’s 51.2. The reading was far below economist forecasts’ of 51.0 and marked the slowest pace since September 2016.

    According to the U.S. Bureau of Economic Analysis, U.S. consumer spending was unchanged in March for a second straight month. Due to the weak domestic demand in the first quarter, the result was below analysts’ forecast calling for a 0.2 percent advance and directly sent the overall monthly inflation rate to a negative territory for the first time in a year.

    The core PCE index fell 0.1% in March compared with the previous month, in line with expectations. On a yearly basis, the rate declined to 1.6% from 1.8%. US manufacturing was also reported to grow slower than forecast in April. As stated by the Institute for Supply Management, the Institute for Supply Management slid to 54.8 from 57.2, missing expectation for a reading of 56.5 due to less hiring and a slower pace of incoming orders.

    Technicals

    USDJPY

    USDJPY has been moving sideways to higher after breaching a resistance at 112.000 and is likely to extend its rally as the ADX index is showing a strong bullish momentum in the market. RSI has entered the overbought zone so a reversal is expected afterwards.

    Trade suggestion

    Buy Stop at 112.200, Take profit at 112.600, Stop loss at 112.000

    BRENT

    Brent crude has been tracing an uptrend since it broke out of a sideway period. The commodity is heading towards a resistance at 52.80 with +DI line crossing over the –DI line from below, signaling further advances. Rising ADX and RSI confirms the signal.

    Trade suggestion

    Buy Stop at 52.00, Take profit at 52.80, Stop loss at 51.60

    SUGAR

    As can be seen from the price chart, the sugar price has been depressed by a couple of MAs. The commodity is struggling to cross over a long-term MA50 currently and looked set to move past this dynamic resistance as the market has entered the bullish zone. Both RSI and ADX indices are rising, coupled with a widening gap between +DI and –DI lines, suggesting further advances.

    Trade suggestion

    Buy Stop at 16.40, Take profit at 17.10, Stop loss at 16.10

    GOLD

    Gold price has fallen into a period of moving sideways after dropping to the lowest level since April 11th. The precious metal may inch lower to test a support at 38.2% Fibonacci level as the market has been dominated by a strong bearish momentum, not to mention downward pressure from two MAs hanging above the price action.

    Trade suggestion

    Sell Stop at 1255.00, Take profit at 1250.00, Stop loss at 1257.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35646

    AUD/NZD signal by Capital Street FX

    From GMT 08:00 28/04/2017
    Till GMT 21:00 28/04/2017

    Buy at 1.08900
    Take profit at 1.09300
    Stop loss at 1.08700

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35645

    Shares of Alphabet Soar 4% after First-Quarter Earnings Report

    Shares of Google parent Alphabet Inc jumped by more than 4 percent in after-hours trading on Thursday after the company posted a surge in profit and revenue which were boosted by growth in its core advertising business.

    Alphabet reported net income rose 29 percent to hit $5.43 billion, or $7.73 per share, up from $4.2 billion, or $6.02 per share, in the year-earlier period. The result was well above economists’ expectation for earnings per share of $7.38.

    Revenue was reported to reach $24.7 billion in the first three-month period to March, up from $20.2 billion in the year-earlier period and above market forecast of $19.7 billion. Particularly, Google advertising revenues contributed $21.4 billion.

    Trade suggestion

    Buy Stop at 929.00, Take profit 935.00, Stop loss at 926.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35644


    Daily Report on April 28, 2017

    Global stock market retreated on Friday after having edged higher for six sessions in a row. The bullish momentum lost its stream amidst intensifying geopolitical concerns and caution ahead of a report on growth in the world’s largest economy. The MSCI Asia Pacific Index fell 0.3 percent, paring its weekly gain to 1.4 percent. The index looked set to mark for a fourth monthly gain.

    Japan’s Topix fell 0.3 percent on Friday but was still poised for a gain of 2.9 percent for the week, the best performance this year. While South Korea’s Kospi slipped 0.2 percent from the highest level since 2011, the Hang Seng Index in Hong Kong dropped 0.4 percent. By contrast, the Shanghai Composite Index added 0.1 percent. The Stoxx Europe 600 Index slipped 0.1 percent, moving far away from the level not seen since August 2015 logged on Wednesday.

    According to the U.K.’s Office for National Statistics, the country’s economy expanded at a quarterly rate of 0.3% in the first quarter of 2017. The figure was lower than both 0.7% expansion recorded in the final three months of last year and economists’ expectation calling for a rise of 0.4%. Last quarter’s reading was the weakest quarterly expansion since the first quarter of 2016. On a yearly basis, growth slowed to 1.2% from 2.7%, the ONS said.

    Reported by the INSEE, French gross domestic product’s expansion slowed to 0.3% quarter-on-quarter in the three months through March after growing 0.5% at the end of 2016. Analysts had expected the economy expanded at the rate of 0.4%. U.S. GDP is due later on Friday. The result is projected to show the economy expanded at a 1 percent annualized rate in the first quarter, the weakest pace in a year.

    Technicals

    AUDJPY

    AUDJPY reversed higher after a hit with a support at 82.900. The price action is struggling to cross over the short-term MA20 from below. The RSI is surging to as high as 57.08, suggesting further advances. The pair is expected to test a resistance at 38.2% Fibonacci retracement.

    Trade suggestion

    Buy Stop at 83.400, Take profit at 83.900, Stop loss at 83.200

    EURJPY

    EURJPY has been support by the short-term MA20 which has forced the price action to reverse higher. The pair extended its up moves and is testing its highest levels since mid-March. There is still room for further advances as the RSI has not reached the overbought yet. A resistance at 122.500 is within the sight.

    Trade suggestion

    Buy Stop at 121.900, Take profit at 122.500, Stop loss at 121.600

    USDCAD

    As can be seen from the price chart, USDCAD has been supported by two MAs hanging below the price action and looked set to retest a major resistance at 1.37000. Both RSI and ADX indices are soaring, suggesting that the pair may edge higher.

    Trade suggestion

    Buy Stop at 1.36500, Take profit at 1.37000, Stop loss at 1.36250

    SP500

    U.S. Sp500 index has been struggling at a resistance at 2390.00 since Tuesday, causing the ADX index to fall lower as no clear trend was formed in the market. However, as can be seen from RSI index which has been held high, the bull is still dominating the market and might support for the price to inch higher.

    Trade suggestion

    Buy Stop at 2390.00, Take profit at 2400.00, Stop loss at 2385.00


    * All trading involves risk. Only risk capital you are prepared to lose

  • #35599

    GBP/JPY signal by Capital Street FX

    From GMT 06:00 27/04/2017
    Till GMT 21:00 27/04/2017

    Buy at 143.300
    Take profit at 114.000
    Stop loss at 143.000

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35598

    Shares of PayPal Hit Record after Better-than-expected Earnings and Stock-repurchase Announcement

    Shares of PayPal Holdings Inc. soared more than 5.6 percent to top record highs in after-hours trading on Wednesday after the company reported first-quarter earnings results that beat earnings expectations.

    The online-payments company posted net income of $384 million, or 32 cents a share, on revenue of $2.98 billion. Adjusting for one-time items, Paypal’s profit came in at 44 cents a share, above analysts’ expectation of 41 cents a share on revenue of $2.94 billion.

    On a yearly basis, total payments volume on PayPal’s platform jumped dramatically 23% to $99.3 billion, nearly topped $100 billion for the first time. PayPal also announced a $5 billion stock-repurchase plan which will be started right after its $2 billion stock-repurchase program announced in January 2016 is complete.

    Trade suggestion

    Buy Stop at 46.90, Take profit 47.50, Stop loss at 46.60


    * All trading involves risk. Only risk capital you are prepared to lose

  • #35597


    Daily Report on April 27, 2017

    European shares reversed lower on Thursday after having risen for seven sessions in a row, depressed by losses in Deutsche Bank AG’s stocks while investors were nervously waiting for a policy update from the European Central Bank which will be released later on the day. The Stoxx Europe 600 dropped more than 0.5 percent to trade as low as 385.00. The index rose 0.5% to close at the highest level since August 2015 on Wednesday.

    Dollar lost ground versus most of its peers, especially against the Mexican peso and Canadian dollar, sliding after U.S. President Donald Trump on Wednesday ruled out a withdrawal from the North American Free Trade Agreement. According to the White House, Trump spoke by telephone with Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau on Wednesday, saying that he would hold back from a speedy termination of NAFTA.

    The Bank of Japan on Thursday kept its stimulus policies unchanged but lowered its inflation forecast. In its quarterly outlook report, the BOJ cut its inflation projection for the fiscal year that started this month to 1.4 percent from 1.5 percent, underlining that any exit from its unprecedented monetary easing remains far away.

    Crude prices extended their down moves to a second session as weekly data showed U.S. refined oil production rose faster than the consumption’s pace. The U.S. Energy Information Administration on Wednesday reported that domestic crude supplies fell 3.6 million barrels for the week ended April 21. However, U.S. crude oil production has risen by 10 percent since mid-2016 to 9.27 million bpd.


    Technicals

    GBPUSD

    GBPUSD has been attempting to break above a major resistance at 1.29000. The pair retreated at this level due to the fact that the market had entered the overbought market but reversed higher with support from two MAs. Both RSI and ADX are rising, signaling further advances.

    Trade suggestion

    Buy Stop at 1.29000, Take profit at 1.29400, Stop loss at 1.28800

    EURGBP

    EURGBP has fallen below a support at 0.84500 and is aiming to cross over the long-term MA50 from below. Recent down moves have brought the market into a bearish zone, as indicated by the RSI index. A support at 38.2% Fibonacci level is within the sight.

    Trade suggestion

    Buy Stop at 0.84400, Take profit at 0.84000, Stop loss at 0.84600

    SILVER

    Silver has been struggling around the 50.0% Fibonacci retracement. The precious metal is expected to fall lower with the market has been dominated by sellers. The price may drop to as low as a support at 17.300, depressed by two MAs hanging above the price action.

    Trade suggestion

    Sell Stop at 17.400, Take profit at 17.300, Stop loss at 17.450

    FTSE100

    FTSE 100 index has broken below both a support at 7260.00 and a couple of MAs, signaling a reversal into a downtrend. While RSI is pointing down, ADX is rising, suggesting a strong bearish momentum in the market which can send the index to as low as 7190.00.

    Trade suggestion

    Sell Stop at 7240.00, Take profit at 7190.00, Stop loss at 7260.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35543

    EUR/NZD signal by Capital Street FX
    From GMT 11:50 26/04/2017
    Till GMT 21:00 26/04/2017
    Buy at 1.58000
    Take profit at 1.59000
    Stop loss at 1.57500

    SILVER/USD signal by Capital Street FX
    From GMT 17:00 26/04/2017
    Till GMT 21:00 27/04/2017
    Sell at 17.360
    Take profit at 17.230
    Stop loss at 17.420

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35542

    Shares of AT&T Inch Lower as Revenues Miss Expectations

    Shares of AT&T Inc. slipped 0.25% in after-trading hours on Tuesday after the telecommunications giant reported revenues that missed expectations.

    Due to the fact that sales of wireless equipment hit an all-time low, in the first quarter of 2017, net income only reached $3.5 billion, or 56 cents a share, on revenue of $39.4 billion, which was lower than both the year-ago quarter’s reading and forecast calling for a figure of $40.5 billion. After adjusting for one-time items, AT&T reported earnings of 74 cents a share, in line with expectations.

    The company said it added 2.7 million wireless customers in the quarter, twice as many as expected of 1.3 million. However, AT&T lost 61,000 postpaid customers in North America in the three-month period to March, while analysts were expecting a rise of 95,000.

    Trade suggestion

    Sell Stop at 39.80, Take profit 39.00, Stop loss at 40.20


    * All trading involves risk. Only risk capital you are prepared to lose

  • #35541


    Daily Report on April 26, 2017

    Japanese Yen continued to lose ground versus its American counterpart on Wednesday, slipping more than 0.1 percent after having dropped 1.2 percent on Tuesday. The pair USDJPY hit an intra-day high of 111.500 – the highest since April 10th. Pushed higher by a weak currency, Japan’s Topix index rose 1 percent, advancing for a fifth straight day for the longest winning streak this year.

    In general, Asian shares extended a global rally after U.S. stocks ended higher following upbeat corporate results and amidst hopes that U.S. tax reform boosted optimism for global growth. Weakness in the yen lifted Japanese equities for a fifth day.

    The MSCI Asia Pacific Index soared to the highest level since mid-2015 with Hong Kong’s Hang Seng and Singapore’s Straits Times Index rising 0.6 percent and 0.4 percent, respectively. Meanwhile, Australia’s S&P/ASX 200 Index and New Zealand’s S&P/NZX 50 Index increased after reopening after a holiday on Tuesday. South Korea’s Kospi index climbed 0.4 percent and the Shanghai Composite Index added 0.4 percent after climbing 0.2 percent on Tuesday.

    Crude prices resumed their downward trend on Wednesday after the American Petroleum Institute (API) on Tuesday said that U.S. crude oil inventories rose by 897,000 barrels in the week to April 21 to 532.5 million barrels. Official data from the Energy Information Administration will be released later on the day which is expected to show a decrease of 1.1M barrels.

    Technicals

    USDJPY

    USDJPY rebounded after having failed to break below a support at 50.0% Fibonacci retracement. The pair retreated from a resistance at 111.500 after continuously up moves sent the market into an overbought zone. Both RSI and ADX are rising, suggesting a strong bullish momentum in the market.

    Trade suggestion

    Buy Stop at 111.500, Take profit at 112.000, Stop loss at 111.200

    EURAUD

    EURAUD has been trading higher since it left a gap earlier this week. Although the market has entered an overbought zone, the pair is most likely to test a resistance at 38.2% Fibonacci retracement as the bull is still dominating in the market, as indicated by advancing RSI and ADX indices.

    Trade suggestion

    Buy Stop at 1.45700, Take profit at 1.46900, Stop loss at 1.45000

    BRENT

    As can be seen from the price chart, Brent crude has been under downward pressure from two MAs, especially from the short-term MA20. The commodity is expect to trade lower to fall as low as 23.6% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 51.55, Take profit at 50.95, Stop loss at 51.85

    SUGAR

    Sugar has been moving sideways to lower around a support at 16.10. The commodity has also been under downward pressure from two MAs and is anticipated to inch lower to test a major support at 61.8% Fibonacci retracement.

    Trade suggestion

    Sell Stop at 16.00, Take profit at 15.45, Stop loss at 16.25

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35476

    USD/JPY signal by Capital Street FX
    From GMT 05:00 25/04/2017
    Till GMT 21:00 25/04/2017
    Buy at 110.100
    Take profit at 110.500
    Stop loss at 109.900

    GBP/AUD signal by Capital Street FX

    From GMT 16:45 25/04/2017
    Till GMT 21:00 25/04/2017
    Buy at 1.70500
    Take profit at 1.71000
    Stop loss at 1.70300

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35475

    U.S. Shares Rally, Sp500 To Hit 2,400.00 Milestone Amidst Upbeat Earnings and U.S. Tax Reform Speculation

    U.S. shares rallied on Tuesday with all stock benchmark indexes, as investors’ optimism was spurred by speculation about U.S. tax reform and upbeat earnings of U.S. corporations and better-than-expected economic data.

    The S&P 500 added about 0.6%, to 2,387, with 8 of the main 11 sectors trading higher. While materials and financials were leading gains, up more than 1% each, telecommunication services and utilities led losses.

    Reporting earnings results on Tuesday, construction machinery maker Caterpillar Inc., DuPont and fast-food giant McDonald’s Corp. posted figures that all topped analyst forecasts.

    Meanwhile, new home sales surged dramatically to an eight-month high last month as demand remains hot. According to the Commerce Department, new home sales jumped 5.8 percent to a seasonally adjusted annual rate of 621,000 units last month, the highest level since July 2016.

    Trade suggestion

    Buy Stop at 2390.00, Take profit 2400.00, Stop loss at 2385.00

    * All trading involves risk. Only risk capital you are prepared to lose

  • #35474


    Daily Report on April 25, 2017

    Asian stock markets edged higher on Tuesday, as investors continued to tolerate risk appetite with a centrist victory in the first round of the French presidential election lifting several regional markets to multi-year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 percent, reaching its highest level in more than three weeks and marking four straight days of gains.

    Japanese equities rose for a fourth straight session, rising 0.9 percent after jumping 1 percent Monday. The Shanghai Composite reversed higher, advancing 0.2 percent after tumbling 1.4 percent on Monday. Taiwan’s Taiex and Singapore’s Straits Times Index also increased. Australia and New Zealand are closed Tuesday for Anzac Day.

    Safe-haven assets, including the yen and gold remained under pressure. While the Japanese yen continued to drop 0.4 percent to 110.19 after losing 0.6 percent in the previous session, gold lost 0.3 percent to $1,272.82 after slipping 0.6 percent on Monday.

    Canadian dollar dropped to four-month low against the dollar after U.S. President Donald Trump on Monday announced new duties averaging 20 percent on Canadian softwood lumber imports. Canadian government vowed to sue if needed.

    Technicals

    EURJPY

    EURJPY has been surging on a strong bullish momentum after the price action revered higher from a support at 119.100. The market has entered the overbought zone, as indicated by RSI index. However, the pair is expected to test a major resistance at 23.6% Fibonacci level.

    Trade suggestion

    Buy Stop at 120.200, Take profit at 120.600, Stop loss at 120.000

    EURAUD

    EURAUD has been retesting the highest level since early January 2017 at 1.44350 recorded on Monday. The pai