Daily Technical Analysis by Capital Street FX

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

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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

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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

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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

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



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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

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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

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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

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

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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

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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

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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

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



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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

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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

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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

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


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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

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

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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

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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

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


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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

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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

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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

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

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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

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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

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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

Daily Report on August 23, 2017



Asian shares took a breather on Wednesday after an advance in the previous session. The MSCI Asia Pacific Index rose less than 0.1 percent following a rise of 0.3% on Tuesday while Japan’s Topix index closed 0.3 percent higher. Shares declined in Sydney with Australia’s S&P/ASX 200 Index shedding 0.2 percent. By contrast, South Korea’s Kospi index reversed losses, adding 0.1 percent. Futures on the S&P 500 Index fell 0.2 percent.

Hong Kong’s trading session was canceled on Wednesday after the Typhoon Hato lashed the city with heavy winds and rain. The Hong Kong Observatory had issued signal No. 10 for five hours before lowering the signal to No. 8. Trading in Hong Kong will likely resume on Thursday.

The New Zealand dollar tumbled to a one-and-a-half-month low against its American counterpart on Wednesday after the New Zealand Treasury on Wednesday reduced its economic growth forecast for the year to June to 2.6 percent, a slower pace than the 3.1 percent previously forecast. Treasury predicted gross domestic product grew 3.5 percent in the year to June 2018, down from 3.7 per cent in the May budget update.

Meanwhile, the dollar was flat versus a basket of major currencies after traded higher overnight amidst optimism the U.S. president Donald Trump’s administration is making progress on tax reform. Investors are expected to take cautious trade ahead of an annual gathering of central bankers at Jackson Hole later in the week. Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are due to speak on Friday, though neither is expected to announce new policy messages.



Technicals

EURUSD



EURUSD rebounded higher after hitting a downtrend line – which is the upper boundary of a slopping downward trading range. The currency pair did not only turn this resistance into a support but also sent its price action above a couple of MAs. RSI index has risen to as high as 56.66, signaling further advances for the price.

Trade suggestion

Buy Stop at 1.18000, Take profit at 1.18400, Stop loss at 1.17800



GBPJPY


As can be seen from the chart, the pair GBPJPY has been under downward pressure exerted by two MAs hanging above the price action. The pair retested a support at 139.800 and looks set to break out of this level which had restrained the downtrend last week. RSI index continued to point lower, the pair is expected to test a support at 139.000.

Trade suggestion

Sell Stop at 139.700, Take profit at 139.000, Stop loss at 140.000



USDJPY



USDJPY reversed lower as the pair failed to surpass a dynamic resistance at the long-term MA50. The pair has recently been trapped between a resistance at 109.600 and a support at 108.700. The support is anticipated to be tested again as RSI index which has plunged to as low as 42.80 indicated a strengthening bearish force in the market.

Trade suggestion

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



GOLD


Gold retested a strong resistance at 1289.00 after shooting its price action above a couple of moving averages. A significant handle at 1295.00 is expected to be tested as the market has been dominated by bullish force. While RSI index is soaring, ADX is also on a rise with a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 1290.00, Take profit at 1295.00, Stop loss at 1288.00

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New Zealand Dollar Plunges As Treasury Reduces Economic Growth Forecasts

The New Zealand dollar tumbled to a one-and-a-half-month low against its American counterpart on Wednesday after the New Zealand government trimmed its surplus and growth outlook ahead of an election.

The kiwi lost more than 0.7 percent to trade at 0.7225 U.S. cents – the lowest level since July 12th in the wake of the pre-election fiscal update. The New Zealand Treasury on Wednesday reduced its economic growth forecast for the year to June to 2.6 percent, a slower pace than the 3.1 percent previously forecast.

Treasury predicted gross domestic product grew 3.5 percent in the year to June 2018, down from 3.7 per cent in the May budget update.

Meanwhile, the dollar was flat versus a basket of major currencies after traded higher overnight amidst optimism the U.S. president Donald Trump’s administration is making progress on tax reform. Investors are expected to take cautious trade ahead of an annual gathering of central bankers at Jackson Hole which is scheduled to be held later in the week.

Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are due to speak on Friday, although neither is expected to announce new policy messages.

Trade suggestion

Sell Stop at 0.72250, Take profit at 0.71800, Stop loss at 0.72450

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Crude Oil Prices On A Rise, Canadian Dollar Advances Versus the Greenback

Canadian dollar gained ground versus its U.S. counterpart on Wednesday as crude oil prices turned higher after data from the U.S. Energy Information Administration showed that domestic crude supplies fell in line with expectations last week. Meanwhile, the greenback retreated following the release of disappointing U.S. housing sector data.

The pair USDCAD pared earlier gains to trade at 1.25600 in North American trading session on Wednesday. The commodity currency was supported by the report released by the EIA that said U.S. crude oil inventories fell by 3.33 million barrels in the week ended August 18. The figure was in line with forecast.

Meanwhile, U.S. Commerce Department reported that new single-family home sales unexpectedly fell in July. The reading tumbled 9.4 percent to a seasonally adjusted annual rate of 571,000 units last month – its lowest level December 2016.

Trade suggestion

Sell Stop at 1.25600, Take profit at 1.25250, Stop loss at 1.25750

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EUR/NZD

From GMT 12:20 23/08/2017
Till GMT 21:00 23/08/2017

Buy at 1.63500
Take profit at 1.64000
Stop loss at 1.63300

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




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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

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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

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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

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

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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

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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

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



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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

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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

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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

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

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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

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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

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

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

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



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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

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

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

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

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

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


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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

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

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

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

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

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

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


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

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

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

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

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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

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



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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

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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

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




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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

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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

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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

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





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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

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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

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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

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




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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

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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