Daily Technical Analysis by Capital Street FX

Daily Report on September 25th, 2017



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

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

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

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



Technicals

EURAUD



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

Trade suggestion

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



USDCHF



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

Trade suggestion

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



EURJPY



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

Trade suggestion

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



BRENT



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

Trade suggestion

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



COPPER



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

Trade suggestion

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



FTSE 100 Index



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

Trade suggestion

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




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

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

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

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

Trade suggestion

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

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

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

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

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

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

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

Trade suggestion

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


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USD/CAD

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

Buy at 1.23600
Take profit at 1.24100
Stop loss at 1.23400

Daily Report on September 26, 2017



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

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

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

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



Technicals

EURUSD


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

Trade suggestion

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



AUDUSD



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

Trade suggestion

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



EURJPY



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

Trade suggestion

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



NZDJPY


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

Trade suggestion

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



USDCHF



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

Trade suggestion

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



COPPER


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

Trade suggestion

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


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

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

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

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

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

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

Trade suggestion

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

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

Sell at 1.14150
Take profit at 1.13700
Stop loss at 1.14350

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

Sell at 0.97550
Take profit at 0.97200
Stop loss at 0.97700

Daily Report on September 27, 2017

European share prices advanced on Wednesday as President Donald Trump’s administration prepared to outline a new tax plan which was said to be a “very, very powerful document” that would cut taxes “tremendously” for the middle class. The Stoxx Europe 600 Index jumped 0.2 percent to hit the highest in almost 10 weeks.
Meanwhile, the U.K.’s FTSE 100 Index soared 0.4 percent to the strongest level in almost two weeks and Germany’s DAX Index rose 0.2 percent to the highest in almost 11 weeks. Futures on the S&P 500 Index gained 0.2 percent.
The greenback was supported strongly amidst mounting expectations that the U.S. Federal Reserve will raise interest rates for the third time at the end of this year. The Federal Reserve Chair Janet Yellen on Tuesday echoed her colleague - New York Federal Reserve President William Dudley’s comments that the central bank needs to continue gradual interest rate hikes despite uncertainty about the path of inflation.
While Dudley claimed that factors depressing inflation are "fading" and the U.S. economy's fundamentals are sound, Yellen said it would be "would be imprudent to keep monetary policy on hold until inflation is back to 2%," Following Yellen’s speech, the chance that the Fed will raise borrowing costs in December rose to 76 percent.
Crude oil futures were little changed Wednesday after the American Petroleum Institute on Tuesday reported U.S. crude stockpiles fell by 761,000 barrels for the week ended September 22nd. Weekly supply data from the U.S. government will be released later in the day. Markets forecast that the Energy Information Administration would report a climb of 1.3 million barrels in crude inventories.

Technicals
USDJPY

USDJPY extended its upward rally after having rebounded from the 38.2% Fibonacci retracement and crossed over the short-term MA20. The price action is facing another Fibonacci level at 50.0% and is expected to break out of this handle as the market has still been supported by buyers. The ADX index and the RSI index are both rising, indicating a strong bullish force in the market.
Trade suggestion
Buy Stop at 112.950, Take profit at 113.450, Stop loss at 112.750

EURUSD

EURUSD appears to experience a correction after hitting the lowest level since August 21st at 1.17300. Recent sharp down moves have sent the market into the oversold zone, as indicated by the RSI index that has plunged to as low 23.0098. However, ADX index is still on a rise, signaling further declines for the pair. A support at 1.16900 is anticipated to be tested.
Trade suggestion
Sell Stop at 1.17300, Take profit at 1.16900, Stop loss at 1.17500

GBPUSD

GBPUSD has been tracing a downtrend that has sent the pair to the weakest level since September 14th at 1.33800. The short-term MA20 has penetrated the long-term MA50 from above, confirming the reversal into a downtrend. Further declines are expected for the pair as the RSI index is pointing downwards. A support at 1.33000 is within the sight.
Trade suggestion
Sell Stop at 1.33800, Take profit at 1.33000, Stop loss at 1.34200

GBPAUD

GBPAUD has surpassed a significant level at 61.8% Fibonacci retracement after a period of times moving below this handle. With the support from two moving averages lingering below the price action, the pair is anticipated to sustain its rally and retest a one-and-a-half month highs at 1.71600. RSI index is heading upwards, confirming signals for further advances.
Trade suggestion
Buy Stop at 1.71000, Take profit at 1.71600, Stop loss at 1.70700

AUDNZD

Under pressure exerted by two moving averages that are hanging above the price action, the pair AUDUSD has tumbled below the 23.6% Fibonacci retracement. The pair looks set to test a firm support at 1.8400 as the market has been dominated by sellers. RSI index which is at as low 43.97 signals further declines for the pair.
Trade suggestion
Sell Stop at 1.08900, Take profit at 1.08400, Stop loss at 1.09100

DAX

DAX 30 index gapped up on Wednesday and has liberated from a period of moving sideways to rise to the highest level since mid-July. With the support from two moving averages that are moving below the price action, the stock benchmark index is expected to trade higher in an attempt to test a resistance at 12750.00. Both RSI and ADX indices are on a rise, suggesting further advances.
Trade suggestion
Buy Stop at 12680.00, Take profit at 12750.00, Stop loss at 12650.00

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

New Zealand dollar tumbled for the third day in a row versus its American counterpart ahead of the RBNZ’s monetary policy meeting scheduled later in the day. The greenback was supported strongly amidst mounting expectations that the U.S. Federal Reserve will raise interest rates for the third time at the end of this year.
The Kiwi lost more than 0.2 percent to trade at 0.7192 dollar in European trading session. The Federal Reserve Chair Janet Yellen on Tuesday echoed her colleague – New York Federal Reserve President William Dudley’s comments that the central bank needs to continue gradual interest rate hikes despite uncertainty about the path of inflation.

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

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

Trade suggestion
Sell Stop at 0.71800, Take profit at 0.71400, Stop loss at 0.72000
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Daily Report on September 28, 2017



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

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

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

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

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



Technicals

AUDNZD



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

Trade suggestion

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



WTI


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

Trade suggestion

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



Natural Gas



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

Trade suggestion

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



Dow Jones


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

Trade suggestion

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



S&P 500


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

Trade suggestion

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

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

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

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

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

Trade suggestion

Sell Stop at 0.71800, Take profit at 0.71400, Stop loss at 0.72000
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AUD/USD

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

Sell at 0.78100
Take profit at 0.78700
Stop loss at 0.78300

Daily Report for September 29, 2017



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

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

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

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

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



Technicals

AUDCAD



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

Trade suggestion

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



GBPUSD


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

Trade suggestion

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



AUDUSD



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

Trade suggestion

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



GOLD



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

Trade suggestion

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



USDCAD


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

Trade suggestion

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



DAX



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

Trade suggestion

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



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

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

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

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

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

Trade suggestion

Buy Stop at 7365.00, Take profit at 7400.00, Stop loss at 7350.20
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Volkswagen AG Increases Provisions on Modifying Diesel Vehicles in U.S., Shares Slip

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

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

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

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

Trade suggestion

Sell Stop at 140.50, Take profit at 139.00, Stop loss at 141.20
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Nasdaq 100 Index/

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

Buy at 5975.00
Take profit at 6000.00
Stop loss at 5965.00

Daily Report on October 02, 2017



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

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

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

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



Technicals

EURNZD


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

Trade suggestion

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



EURUSD



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

Trade suggestion

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



CAC40



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

Trade suggestion

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



COPPER



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

Trade suggestion

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



Natural Gas



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

Trade suggestion

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



FTSE 100 Index


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

Trade suggestion

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


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

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

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

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

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

Trade suggestion

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


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


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

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

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

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

Trade suggestion

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



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GBP/USD

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

Sell at 1.32600
Take profit at 1.32000
Stop loss at 1.32900

Daily Report on October 03, 2017



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

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

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

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





Technicals

GBPJPY



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

Trade suggestion

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



USDJPY



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

Trade suggestion

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



WTI


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

Trade suggestion

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



GOLD



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

Trade suggestion

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



Natural Gas



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

Trade suggestion

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



NASDAQ 100 Index



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

Trade suggestion

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



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

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

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

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

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

Trade suggestion

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


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

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

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

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

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

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

Trade suggestion

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


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

EUR/AUD

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

Sell at 1.50300
Take profit at 1.50800
Stop loss at 1.50100

Daily Report on October 04, 2017



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

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

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

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



Technicals

NZDUSD


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

Trade suggestion

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



USDCHF


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

Trade suggestion

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



NZDJPY



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

Trade suggestion

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



BRENT


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

Trade suggestion

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



GOLD



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

Trade suggestion

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



COPPER



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

Trade suggestion

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



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EUR/AUD

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

Sell at 1.49600
Take profit at 1.49100
Stop loss at 1.49800

Daily Report on October 05, 2017



U.S. shares jumped higher on Thursday to reach fresh record highs with the S&P 500 Index extended its upward rally to the longest streak since July 2013. U.S. stock markets’ bullish run were propelled by over U.S. tax reforms and data pointing to solid U.S. growth. The S&P 500 Index soared roughly 0.44 percent to trade at 2,548.89 with only two out of eleven major sectors trading in positive territory. Meanwhile, the Dow Jones Industrial Average and the Nasdaq Composite added 0.45% and 0.63%, respectively.

Financials led gains with a jump of 0.9 percent after Philadelphia Federal Reserve Bank President Patrick Harker on Thursday suggested one more rate hike this year and three next year. Upbeat data backed up the expectations of the Federal Reserve raising rates at the December meeting with initial jobless claims fell more than expected.

Upbeat U.S. data also support market participants’ sentiment. According to the reported published by the U.S. Department of Labor, unemployment claims dropped to 260,000 last week from a reading of 272,000 recorded in the preceding week and was better than analysts’ forecast calling for a figure of 266,000. Additional reports from the Bureau of Economic Analysis showed U.S. trade deficit for August narrowed to 42.4B from 43.7B in July.

Crude oil futures prices surged strongly on Thursday, with demand bolstered by a talk of an extension for an OPEC deal to cut output. Russian Energy Minister Alexander Novak on Thursday said that Russia would support new countries joining the agreement to restrict oil supply while President Vladimir Putin earlier this week claimed that a new pledge to trim production by OPEC and other producers could be extended to the end of 2018, instead of expiring in March 2018.



Technicals

GBPUSD



Under downward pressure exerted by a couple of moving averages that are hanging above the price action, the pair GBPUSD crossed over a strong support at the 23.6% Fibonacci retracement and is heading towards another firm support at 1.30600. ADX index continued to trace upbeat moves with a widening gap between the –DI and +DI lines, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 1.31300, Take profit at 1.30600, Stop loss at 1.31600



AUDUSD


AUDUSD reversed lower after having failed to penetrate the long-term MA50 from below. The price action fell below both the short-term MA20 and the 38.2% Fibonacci retracement. The pair is facing a firm support at 0.77950 where it has failed to breach since late September. With the RSI index heading lower while ADX index on a rise, a breakout is expected. A support at 0.77550 is within the sight.

Trade suggestion

Sell Stop at 0.77950, Take profit at 0.77550, Stop loss at 0.78150



USDCAD


USDCAD rebounded higher from a period of consolidation and breached a strong resistance at 1.25400 – the highest level since late-August. Further advances are anticipated for the pair as both ADX and RSI index are soaring which showed a strengthening an overwhelming bullish momentum in the market. A resistance at 1.26300 is within the sight.

Trade suggestion

Buy Stop at 1.25700, Take profit at 1.26300, Stop loss at 1.25400



COPPER



Copper has been tracking a dramatically strong uptrend that did not only help the commodity to break out of a firm handle at 2.9900 but also support the price to breach a significant level at the 23.6% Fibonacci retracement. Although the RSI index has jumped to the overbought index which signals a correction in the near future, ADX index keeps heading higher which encourages the commodity to test a resistance at 3.0750.

Trade suggestion

Buy Stop at 3.0450, Take profit at 3.0750, Stop loss at 3.0300



GOLD


Gold reversed lower on the back of a hit with the 61.8% Fibonacci retracement. The price action breached the short-term MA20 after a period of being supported by this dynamic support. The precious metal is heading downwards to a support at 1266.00 with the market dominated by sellers, as indicated by RSI index which has pointed to as low as 41.0375.

Trade suggestion

Sell Stop at 1272.00, Take profit at 1266.00, Stop loss at 1275.00



Dow Jones


Dow Jones index has been supported by a couple of moving averages that are lingering below the price action that helped the stock benchmark index soar higher after a period of moving sideways. Both RSI and ADX are surging, indicating a strengthening bullish force in the market. A resistance at 22850.00 is forecast to be tested.

Trade suggestion

Buy Stop at 22750.00, Take profit at 22850.00, Stop loss at 22700.00



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Euro To Break the 1.1700 Handle as Political Turmoil Persists, Dollar Supported by Rate Hike Prospects

The euro reversed lower against the greenback on Thursday after two days of closing higher in a row. While the single currency was fragile amidst rising political turmoil and pessimism over possibility of the European Central bank tapering its bond-buying program, the U.S. dollar has been boosted by upbeat domestic data and hawkish comments from Fed officials.

The euro lost 0.45 percent versus its American counterpart on Thursday, sending the pair back down to near the benchmark level 1.17000 where it reversed higher on September 03rd. The single currency lost ground following the release of the minutes of the European Central Bank’s September meeting which showed that policy makers remained concerned over the euro’s volatility. The minutes reduced expectations that the ECB will begin reducing its quantitative easing program after its October meeting.

Whereas, after the regional government of Catalonia on Wednesday announced that they would declare independence from Spain on Monday, further depressing the currency.

The dollar, on the other hand, was supported strongly after Philadelphia Federal Reserve Bank President Patrick Harker on Thursday suggested one more rate hike this year and three next year. Upbeat data backed up the expectations of the Federal Reserve raising rates at the December meeting with initial jobless claims fell more than expected.

According to the reported published by the U.S. Department of Labor, unemployment claims dropped to 260,000 last week from a reading of 272,000 recorded in the preceding week and was better than analysts’ forecast calling for a figure of 266,000.

Additional reports from the Bureau of Economic Analysis showed U.S. trade deficit narrowed in August. As exports climbed to a two-and-a-half year high and factory orders increased more than projected, U.S. trade deficit narrowed to 42.4B from 43.7B in July.

Trade suggestion

Sell Stop at 1.17000, Take profit at 1.16600, Stop loss at 1.17200


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

Financial Sector Leads Gains, Helping U.S. Markets Bull Run Extend Winning Streak

U.S. shares jumped higher on Thursday to reach fresh record highs with the S&P 500 Index extended its upward rally to the longest streak since July 2013. U.S. stock markets’ bullish run were propelled by optimism over U.S. tax reforms and data pointing to solid U.S. growth.

The S&P 500 Index soared roughly 0.44 percent to trade at 2,548.89 with only two out of eleven major sectors trading in positive territory. Financials led gains with a jump of 0.9 percent after Philadelphia Federal Reserve Bank President Patrick Harker on Thursday suggested one more rate hike this year and three next year. Upbeat data backed up the expectations of the Federal Reserve raising rates at the December meeting with initial jobless claims fell more than expected.

Upbeat U.S. data also support market participants’ sentiment. According to the reported published by the U.S. Department of Labor, unemployment claims dropped to 260,000 last week from a reading of 272,000 recorded in the preceding week. Additional reports from the Bureau of Economic Analysis showed U.S. trade deficit narrowed to 42.4B in August from 43.7B in July.

Trade suggestion

Buy Stop at 2550,00, Take profit at 2560,00, Stop loss at 2545,00



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


CAD/JPY

From GMT 18:30 05/10/2017
Till GMT 21:00 05/10/2017

Sell at 89.650
Take profit at 89.150
Stop loss at 89.900

Daily Report on October 06, 2017



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

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

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



Technicals

GBPAUD


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

Trade suggestion

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



USDCAD


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

Trade suggestion

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

EURUSD




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

Trade suggestion

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



NATURAL GAS


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

Trade suggestion

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



BRENT



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

Trade suggestion

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



EURGBP



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

Trade suggestion

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





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

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

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

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

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

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

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

Trade suggestion

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


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

Sterling Sinks to One-month Lows Amidst Rising Political Uncertainties

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

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

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

Trade suggestion

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


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

GBP/CAD

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

Sell at 1.63700
Take profit at 1.63100
Stop loss at 1.64000

Daily Report on October 09, 2017



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

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

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

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



Technicals

USDCAD


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

Trade suggestion

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



GBPUSD


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

Trade suggestion

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



AUDNZD



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

Trade suggestion

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



WTI


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

Trade suggestion

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





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

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

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

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

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

Trade suggestion

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


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

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

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

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

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

Trade suggestion

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


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

NZD/USD

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

Sell at 0.70700
Take profit at 0.70300
Stop loss at 0.70900

Daily Report on October 10, 2017



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

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

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

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

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



Technicals

NZDJPY


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

Trade suggestion

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



EURUSD


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

Trade suggestion

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



USDCAD



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

Trade suggestion

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



SILVER


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

Trade suggestion

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



GOLD



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

Trade suggestion

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



BRENT


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

Trade suggestion

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

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

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

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

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

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

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

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

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

Trade suggestion

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



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

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

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

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

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

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

Trade suggestion

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


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

EUR/NZD

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

Buy at 1.66900
Take profit at 1.67100
Stop loss at 1.66700

Daily Report on October 11, 2017



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

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

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

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

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





Technicals

EURGBP


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

Trade suggestion

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



NZDUSD



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

Trade suggestion

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



EURCHF


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

Trade suggestion

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



Natural Gas


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

Trade suggestion

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



WTI



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

Trade suggestion

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



NASDAQ 100

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

Trade suggestion

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





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

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

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

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

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

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

Trade suggestion

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


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

AUD/NZD

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

Buy at 1.10200
Take profit at 1.10700
Stop loss at 1.10000

Daily Report on October 12, 2017

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

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

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

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

Technicals
AUDJPY

AUDJPY rebounded from a firm support at 87.300 following a period of moving sideways. The pair did not only breach a significant level at the 50.0% Fibonacci retracement but also is facing a dynamic resistance at the long-term MA50. Indicators are supporting for further advances as both the RSI and ADX indices are rising. A resistance at 88.400 is expected to be tested.
Trade suggestion
Buy Stop at 87.950, Take profit at 88.400, Stop loss at 87.750

GBPAUD

GBPADU has been trapped between a resistance at 1.69900 and a significant handle at the 50.0% Fibonacci retracement. Besides, the price action has twisted with a couple of moving averages. With the RSI index pointing lower which suggesting a strengthening bearish force, the pair is anticipated to make a breakout and attempt a support at 1.67900.
Trade suggestion
Sell Stop at 1.69000, Take profit at 1.67900, Stop loss at 1.69500

USDCAD
USDCAD slumped further after a consolidation. The short-term MA20 has penetrated the long-term MA50 from above, confirming the downtrend. While RSI index has plunged to as low as 30.44, ADX index is on a strong rise with a widening gap between the +DI and –DI lines, indicating a strengthening bearish force and suggesting further declines for the pair.
Trade suggestion
Sell Stop at 1.24300, Take profit at 1.23800, Stop loss at 1.24500

COPPER

Copper futures prices extended their rally following a period of consolidation that came after the market has jumped into the overbought territory. The commodity is expected to trade higher with the market dominated by sellers, as indicated by the RSI index that has soared to as high as 74.94. The ADX index also rebounded with the +DI and –DI lines diverging.
Trade suggestion
Buy Stop at 3.1050, Take profit at 1.1300, Stop loss at 3.0950

USDJPY

USDJPY has been under downward pressure exerted by a couple of moving averages that are lingering above the price action. Further declines are anticipated for the currency pair as the market has been dominated by sellers, as indicated by RSI index that has tumbled to as low as 42.35. ADX index is edging higher with –Di and +DI lines diverging.
Trade suggestion
Sell Stop at 112.200, Take profit at 111.700, Stop loss at 112.400
**************************************
Euro Jumps to Two-week Highs After Fed Meeting Minutes Show Rate-hike Uncertainty

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

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

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

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

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

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

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Daily Report on October 13, 2017



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

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

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

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

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





Technicals

GBPUSD


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

Trade suggestion

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



EURNZD



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

Trade suggestion

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



EURGBP


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

Trade suggestion

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



WTI



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

Trade suggestion

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



COPPER



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

Trade suggestion

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



Natural Gas




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

Trade suggestion

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



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

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

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

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

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

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

Trade suggestion

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


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

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

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

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

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

Trade suggestion

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


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EUR/AUD

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

Sell at 1.50850
Take profit at 1.50400
Stop loss at 1.51050

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

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

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

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

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

Trade suggestion

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



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

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

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

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

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

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

Trade suggestion

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


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GBP/USD

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

Sell at 1.31800
Take profit at 1.31300
Stop loss at 1.32000

Daily Report on October 18, 2017



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

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

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

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



Technicals

CADJPY



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

Trade suggestion

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



USDJPY


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

Trade suggestion

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



USDCHF



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

Trade suggestion

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



SILVER


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

Trade suggestion

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



Natural Gas



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

Trade suggestion

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



BRENT



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

Trade suggestion

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



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

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

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

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

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

Trade suggestion

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


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

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

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

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

Trade suggestion

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


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EUR/JPY

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

Buy at 133.050
Take profit at 133.450
Stop loss at 132.850

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

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

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

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

Trade suggestion

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



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

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

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

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

Trade suggestion

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



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GBP/AUD

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

Sell at 1.67100
Take profit at 1.66500
Stop loss at 1.67400

Daily Report on October 20, 2017



Global share markets edged higher on Friday with the Stoxx Europe 600 index reversing from a loss in the previous session. Particularly, the stock benchmark index added 0.2 percent as supported by gains in financial and industrial shares. The Stoxx Europe 600 index dropped as much as 0.6 percent on Thursday and was on track to shed 0.5% for the week, which would be the first weekly declines in the last six week.

Germany’s DAX 30 index picked up 0.2 percent and France’s CAC 40 inched 0.16 percent higher while, the FTSE 100 gained 0.25 percent in London. In Asian trading session, Japan’s Topix index closed roughly higher at the highest since July 2007. The index advanced for a sixth consecutive week. The Nikkei 225 Stock Average also ended at the highest since October 1996. Australia’s S&P/ASX 200 Index and South Korea’s Kospi index rose 0.2 percent and 0.7 percent, respectively.

U.S. stock futures also traded higher. Dow Jones Industrial Average futures jumped 0.39% to surpass the level 23,200. Meanwhile, S&P 500 futures gained 0.21% to 2,565.75. Nasdaq futures advanced 0.2% to 6,107. For the week, all three benchmarks were all set for weekly gains.

The U.S. dollar soared strongly to hit the highest level in roughly three months versus its Japanese counterpart and also strengthened against other major rivals on Friday amidst speculation over the tax reforms. The U.S. dollar index, which measures the strength of the buck against six other currencies, climbed 0.3% to 93.526. Dollar’s upbeat moves were fueled after Senate Republicans reportedly passed a budget blueprint for the next fiscal year, which helps clear a critical hurdle in the GOP push to overhaul the tax code.



Technicals

CADJPY



Fig: CADJPY H4 Technical Chart

CADJPY rebounded from as low as 90.000 and is retesting a three-week high at 90.713 after having broken above a significant resistance at 50.0% Fibonacci retracement. Further advances are forecast for the pair given a strengthening bullish momentum in the market. Both ADX and RSI index are rising, not to mention a widening gap between +DI and –DI lines. A resistance at 91.150 is expected to be tested.

Trade suggestion

Buy Stop at 90.750, Take profit at 91.150, Stop loss at 90.550





EURUSD


The currency pair EURUSD retreated after having hit a strong resistance at 1.18550. The price action has crossed over the long-term MA50 and is facing another dynamic support at the short-term MA20. A breakout is anticipated as the RSI index which has slipped into the negative territory signals a strengthening bearish momentum. The pair is forecast to inch lower in an attempt to test a support at 1.17500.

Trade suggestion

Sell Stop at 1.17950, Take profit at 1.17500, Stop loss at 1.18150



NZDUSD


NZDUSD plunged from as high as 0.71500 and tumbled noticeably to as low as 0.69750 after having penetrated a significant level at 61.8% Fibonacci retracement. The pair consolidated at around 0.70400 but failed to gain bullish momentum by profit-taking. Further declines are expected for the currency pair as sellers are getting stronger in the market, as indicated by ADX index which continues to surge. A support at 0.69350 is expected to be tested.

Trade suggestion

Sell Stop at 0.69750, Take profit at 0.69350, Stop loss at 0.69950



AUDJPY


Supported by a couple of moving averages that are lingering below the price action, the pair AUDJPY reversed higher from as low as 88.400. The pair retested a nearly-four-week high at 88.895 and looks set to trade higher in an attempt to test a resistance at 89.300. Whereas the RSI index is heading upward, ADX index is also a rise with the +DI and –DI lines diverging.

Trade suggestion

Buy Stop at 88.900, Take profit at 89.300, Stop loss at 88.700



BRENT


After a period supported by the long-term MA50, U.K. Brent crude price futures prices broke out of this dynamic support and tumbled. Current down moves sent the commodity into the bearish market, as indicated by the RSI index that has slipped to as low as 38.19 and continues to head lower. Further declines are expected for the commodity with a support at 56.200 within the sight.

Trade suggestion

Sell Stop at 56.900, Take profit at 56.200, Stop loss at 57.200



GOLD


Gold reversed lower after the precious metal failed to break out a couple of dynamic resistance at the short-term MA20 and the long-term MA50. The metal is facing a strong support at the 61.8% Fibonacci retracement that has prevented the price from edging lower since October 09th. A breakout is anticipated with the RSI index pointing downward while the ADX index on a rise with a widening gap between the –DI and +DI lines.

Trade suggestion

Sell Stop at 1279.00, Take profit at 1273.00, Stop loss at 1282.00



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Boosted By Sharp Jump in Mobile Payments, PayPal Shares Advance Amidst Rosy Outlook

Shares of PayPal Holdings Inc. took up by more than 4 percent in the extended session on Thursday after the mobile-payments company reported a better-than-expected third-quarter profit and upgraded its guidance for earnings through the rest of the year.

PayPal’s shares soared 4.03 percent to trade at $69.96 after the San Jose, California-based payments company said it earned $380 million of net income, or 31 cents a share in the third quarter, up from $323 million, or 27 cents a share, in the year-ago period.

For the three-month ended September, the PayPal reported adjusted earnings of $560 million, or 46 cents a share. The reading marked a rise of 32 percent compared to the same period last year and also beat analysts’ expectations calling for earnings of 39 cents a share on revenue of $3.565 billion.

Thanks to sharp growth in mobile payments whose volumes surged 54 percent during the last quarter compared with the year-ago period, to about $40 billion, PayPal witnessed its revenue jump 21.4 percent to $3.24 billion from $2.67 billion recorded in the same quarter last year.

PayPal also raised its guidance for the fiscal year 2017’s adjusted earnings to a range of $1.86 to $1.88 per share from $1.80 per share to $1.84 per share. Meanwhile, earnings are forecast to reach a range of 50 cents to 52 cents per share during the fourth quarter, which is in line with analysts’ estimate of earnings of 51 cents. Revenue is expected to come in between $12.92 billion and $12.98 billion.

Trade suggestion

Buy Stop at 70.00, Take profit at 72.00, Stop loss at 69.00


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

GBP/NZD

From GMT 10:30 20/10/2017
Till GMT 21:00 20/10/2017

Buy at 1.88300
Take profit at 1.88750
Stop loss at 1.88100

Daily Report on October 23, 2017



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

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

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

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



Technicals

EURGBP


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

Trade suggestion

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



AUDUSD


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

Trade suggestion

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



USDCAD



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

Trade suggestion

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



GBPAUD



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

Trade suggestion

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



SILVER



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

Trade suggestion

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



CADJPY


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

Trade suggestion

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



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

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

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

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

Trade suggestion

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


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GBP/JPY

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

Buy at 150.200
Take profit at 150.900
Stop loss at 149.900

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AUD/NZD

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

Sell at 1.11900
Take profit at 1.11400
Stop loss at 1.12100