Daily Technical Analysis by Capital Street FX

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Daily Report on November 22, 2016

Asian equities advanced on Monday after U.S. stocks reached fresh records on Monday. Global stocks were boosted by rising oil and metal prices. All three U.S. stock benchmarks closed at all-time record highs at the same time, reminiscing about the strong rally in mid-August. The S&P 500 index SPX surged 0.8%, to close at a record 2,198.18. The Dow Jones Industrial Average DJIA added 0.5% to close at a record 18,956.69 and the Nasdaq Composite Index soared 0.9% to finish at 5,368.86.
Led by energy and material shares, the MSCI Asia Pacific Index of equities jumped nearly 1.0 percent. While copper headed for its highest close since July 2015, crude oil extended gains amid expectation over a production cut at next week’s meeting of the Organization of the Petroleum Exporting Countries. Over the weekend, Iran signaled optimism that OPEC will agree to a supply-cut deal and Iraq said it will offer new proposals to help bolster unity before next week’s meeting in Vienna.
On the New York Mercantile Exchange, light, sweet crude for January delivery rose 1.3%, to $48.88 a barrel while Brent crude edged 1.3% higher, to $49.54 a barrel.
In a brief clip posted to YouTube on Monday, the U.S. president-elect Donald Trump outlined his policy plans for his first 100 days in office, including withdrawing from the Trans-Pacific Partnership trade deal “from day one”. Trump called the TPP trade deal “a potential disaster for our country” and stated that he would “negotiate fair bilateral trade deals that bring jobs and industry back”.
Japan’s Prime Minister, Shinzo Abe, on Saturday warned that the TPP would be “meaningless” without US participation.

Technicals
USDCHF

Fig: USDCHF H4 Technical Chart
USDCHF has been trading in a thin range since last Thursday after the pair breached above the resistance at 1.00600. The short-term MA20 has played an important role in supporting the price. As can be seen from the ADX chart, there is a wide range between the +DI and –DI, which suggests a strengthening uptrend.
Trade suggestion
Buy Stop at 1.01200, Take profit at 1.02000, Stop loss at 1.00800

USDMXN

Fig: USDMXN H4 Technical Chart
USDMXN has been trapped between the two Fibonacci levels. After pulling back from the 23.6% retracement, the pair is heading downwards to the 38.2% handle. While the price action has crossed over two MAs from above, the RSI index is sliding, confirming the downtrend.
Trade suggestion
Sell Stop at 20.34500, Take profit at 20.14700, Stop loss at 20.40000

Natural Gas

Fig: Natural Gas H4 Technical Chart
Natural gas futures retreated from three-week highs at around 3.000 after a strong rally that sent the market into the oversold zone. As can be observed from the Stochastic chart, %K line has crossed over the %D line from above and has just escaped from the oversold area, which indicates a correction. The commodity has still been supported by two MAs. Therefore, a reversal is expected.
Trade suggestion
Buy Limit at 2.900, Take profit at 3.000, Stop loss at 2.850

NASDAQ

Fig: NASDAQ 100 index H4 Technical Chart
Nasdaq 100 index broke above the downward slopping resistance that connects lower highs since late-October. However, the benchmark is struggling at the resistance at 4880.00 as the market has reached the overbought zone, as indicated by the RSI chart. The price may fall deeper but the support at 4835.00 is within the sight.
Trade suggestion
Sell Stop at 4870.00, Take profit at 4835.00, Stop loss at 4890.00

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AUD/JPY signal by Capital Street FX

From GMT 06:20 22/11/2016
Till GMT 21:00 22/11/2016

Buy at 82.000
Take profit at 82.500
Stop loss at 81.750

Copper Continues to Takes Off, Will There Be A Correction Soon?

Copper prices jumped 2% to a one-week high on Tuesday, powered by signs of tighter supply and renewed optimism that the worlds top two economies can sustain the metals demand growth.

Copper has been on a rally since late October thanks to reports that pointed to renewed acceleration of global factory activity, which suggests commodity markets are entering a cyclically stronger environment.

According to market sources, on the supply side, supply seems to be tighter than expected. As stated by a report by the International Copper Study Group, an intergovernmental industry body, global copper supply may turn to a deficit after recent periods of surplus.

In a bid to buoy the rally, the Chinese are buying up copper as a hedge against yuan depreciation. Chinas yuan rebounded against the U.S. dollar but still hovered near 8-1/2-year lows. Not only has speculation over a December rate hike fueled the dollar, but Trumps election win also helped the outlook for the greenback also remained bullish a over the past several days. To cool down the rally of metal prices in general, the Shanghai Futures Exchange said it would raise margins and trading limits on futures contracts including copper and other industrial metals.

Copper extended its gains to the second straight session, heading upwards to attempt the resistance at 2.5700. The rally seems limited as the market has still remained in the oversold zone. As indicated by the RSI chart which shown the index is at 75.49, a correction is much likely to happen.

Trade suggestion
Sell Limit at 2.5700, Take profit at 2.5200, Stop loss at 2.6000

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

Lifted by Retreating Crude Price, USDCAD Reverses Higher

USDCAD turned higher after two days of declines. The pair was boosted by a weaker oil price and mixed Canadian retail sales reports.

Crude oil pulled back on Tuesday, heading to close lower on concerns that Iran and Iraq – two OPEC members that are trying to get an exemption from any output-cut deal – may not be ready to agree on an OPEC output freeze agreement after prices had rose to the highest level this month on reports cartel members were moving closer to finalizing the agreement.

Also supporting the dollar versus the Loonie, Canadian retail sales missed forecast in September while the so-called core index was unchanged. According to data from Statistics Canada showed on Tuesday, auto purchases, which climbed for the first time in three months, helped retail sales rise 0.6 percent, falling short of expectations calling for an increase of 0.7%.


Trade suggestion
Buy Stop at 1.34600, Take profit at 1.35000, Stop loss at 1.34200

NZD/JPY signal by Capital Street FX

From GMT 07:20 23/11/2016
Till GMT 21:00 23/11/2016

Buy at 78.600
Take profit at 79.200
Stop loss at 78.300

Hewlett Packard Enterprise’s Revenue Declines After Separation

Hewlett Packard Enterprise Co. reported their fiscal fourth-quarter results on Tuesday, marking its first year as an independent company after Hewlett-Packard Co. had been split into two smaller companies a year ago.

The Palo Alto, Calif.-based company, which focused on the corporate computing market selling servers, networking equipment and services, said net income in its fourth fiscal quarter fell 78% on a 7.2% revenue decline. Annual revenue was reported to reach of $50.1 billion last quarter, which was down 4% from fiscal 2015. However, HPE claimed that revenue edged 2% higher year-over-year, when adjusted for divestitures and currency.

Shares of HP Enterprise declined nearly 2% in the after-hours trading as the company also forecast earnings for the current quarter were mostly below projections on Wall Street.


Trade suggestion
Sell Stop at 22.45, Take profit at 21.00, Stop loss at 23,00

Daily Report on November 23, 2016

Global shares rallied for a third consecutive day on Wednesday amid optimism economic growth is strong enough to withstand higher U.S. interest rates. The MSCI Asia Pacific excluding Japan Index gained 0.7 percent, following a 1.1 percent increase in the last session. Australia’s S&P/ASX 200 Index climbed more than 1.0 percent while the Hang Seng China Enterprises Index added 0.2 percent.

European shares rose to a four-week high after U.S. stock indexes jumped to all-time records on Tuesday. The Stoxx Europe 600 Index rose 0.2 percent in London, while the U.K.’s FTSE 100 Index also ticked higher. U.K. Chancellor of the Exchequer Philip Hammond is scheduled to deliver his “Autumn Statement” to parliament later today.

The finance minister will not only lay out the government’s first tax and infrastructure spending plans since the country’s Brexit vote in June to leave the European Union, but also announce government’s economic forecasts and budget goals.

Oil swung between gains and losses after OPEC deferred a decision on production cuts. The cartel left Vienna empty-handed as it failed to agree on how Iran and Iraq will participate in the deal to reduce output. As a result, the agreement will not be resolved until the group’s formal meeting on Nov. 30. The gloomy outlook for oil market overshadowed weekly report by the industry-funded American Petroleum Institute that U.S. crude stockpiles fell last week. On the contrary, official government data due Wednesday is anticipated to point to an increase.

The minutes from the Fed’s November meeting which are due for release on Wednesday are expected to confirm officials were creeping closer to their first rate increase in a year. Along with the Fed minutes, U.S. data on durable goods orders, jobless claims, home prices and manufacturing are due Wednesday.

Technicals
AUDJPY

Fig: AUDJPY D1 Technical Chart
AUDJPY is struggling around the 82.500 level which has forced the pair to reverse lower two times in the last two weeks. The pair is edging higher, attempting to test the resistance at 36.2% level – the highest since late-April. With RSI pointing to the oversold zone and a divergence between the +DI and –DI lines of the stochastic chart, the pair is expected to extend its gains.
Trade suggestion
Buy Stop at 82.600, Take profit at 83.500, Stop loss at 82.000

GBPCHF

Fig: GBPCHF H4 Technical Chart
GBPCHF has been on a decline since it reversed lower at the 23.6% retracement. The pair has breached the support at 1.25140 and is approaching a major support at 1.24000. ADX is edging higher, suggesting a powerful trend in the market. RSI has moved past the 50 line which consolidates the downtrend.
Trade suggestion
Sell Stop at 1.25000, Take profit at 1.24000, Stop loss at 1.25500

GOLD

Fig: GOLD H4 Technical Chart
Gold has been trading in a thin range around the 50.0% Fibonacci level since last Thursday. The price action has crossed over the short-term MA20 but downward pressure from the long-term MA50 are being exerted on the price, which has restrained gold’s bullish momentum even though the precious metal has been supported by the 50.0% handle. While ADX showed no clear trend in the market, gold is expected to edge lower as RSI is suggesting a strengthening bear.
Trade suggestion
Sell Stop at 1210.00, Take profit at 1200.00, Stop loss at 1215.00

CAC40

Fig: CAC 40 H4 Technical Chart
CAC 40 pulled back from near the 61.8% level. The index is facing the short-term MA20 and is about to fall into a gap created by two MAs. The %K line is taking a lead over the %D line and heading downwards. However, with the support from two MAs, the index is expected to reverse higher.
Trade suggestion
Buy Limit at 4500.00, Take profit at 4554.00, Stop loss at 4475.00

AUD/USD signal by Capital Street FX

From GMT 07:40 24/11/2016
Till GMT 21:00 24/11/2016

Sell at 0.73700
Take profit at 0.73300
Stop loss at 0.73900

Daily Report on November 24, 2016

Most Asian stock market retreated while European shares gained modestly on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 percent, while Hong Kong's Hang Seng and China's blue-chip CSI300 index also declined, sliding 0.2 percent and 0.4 percent, respectively. On the contrary, the drop in the Japanese yen lifted the export-orientated Nikkei in Tokyo to a near 11-month high.

Wednesday’s upbeat economic data and Fed meeting minutes strengthened the prospect for higher U.S. interest rates, helping sustain the dollar's rally on Thursday. The greenback reached fresh highs across the board against rivals, sending the dollar index to fresh 13-and-half-year highs in early European trade. As a result, gold futures plunged, extending the prior day’s drop.

Gold prices hit their lowest settlement since early February, after solid U.S. economic indicators and Federal Reserve meeting minutes which underpinned speculation for an interest-rate rise, raised the opportunity cost of holding the non-yield asset.

According to pricing in federal funds futures contracts, investors are betting in a 100 percent probability of a change in the U.S. rate next month, as the minutes of November’s meeting said a rate hike could come “relatively soon.”

“Some participants noted that recent committee communications were consistent with an increase in the target range for the federal funds rate in the near term or argued that to preserve credibility, such an increase should occur at the next meeting,” the record of the Federal Open Market Committee meeting showed.

Given a tightening labor market and improving inflation, Federal Reserve officials saw a strengthening case to raise interest rates. Fed policymakers will hold their final meeting of the year in mid-December.

Crude oil were relatively steady on Thursday, even after a weekly report by the U.S. Energy Information Administration on Wednesday showed that U.S. crude oil stocks fell last week after three straight weeks of builds. Crude oil inventories dropped 1.3 million barrels in the week ending November 18 as imports declined while refineries hiked output. Traders are waiting for next week's meeting of the Organization of the Petroleum Exporting Countries.

Trading volume is expected to be lighter than usual, as U.S. equity markets are closed Thursday for the Thanksgiving Day holiday.

Technicals
EURGBP

Fig: EURGBP H4 Technical Chart
EURGBP has fallen into a consolidation around 0.84800 after falling sharply from the level at 0.85800. The pair had been on a rise before hitting the long-term MA50. As can be seen from the RSI chart, the market has remained in the bearish territory for more than 2 weeks. With downward pressure from a couple of MAs hanging above the price chart, the pair is expected to slide further to the 38.2% level.
Trade suggestion
Sell Stop at 0.84600, take profit at 0.84000, stop loss at 0.84300

USDJPY

Fig: USDJPY H4 Technical Chart
USDJPY has rallied for half of a month and has breached three Fibonacci levels in a row. The pair is attempting another Fib retracement at 61.8% handle. Although the target may be reached, the market is likely to fall into a correction as it has penetrated the oversold area.
Trade suggestion
Buy Stop at 113.200, take profit at 114.000, stop loss at 112.800

SILVER

Fig: SILVER H4 Technical Chart
Silver has pulled back but still held near 5-and-1/2 lows at 16.141. The metal price broke below the 61.8% level yesterday after moving back and forth around this handle. As bears are still overwhelmingly dominating in the market and being supported by two MAs lingering above the price action, silver is anticipated to test the 16.000 support.
Trade suggestion
Sell Stop at 16.300, take profit at 16.000, stop loss at 16.450

EURO 50

Fig: EURO 50 Index H4 Technical Chart
Euro 50 index has been swing between gains and losses since the start of last week. The benchmark is struggling below the 3040.00 level with no clear trend in the market. While the two MAs have twisted with the price action, the RSI index is lingering near the 50 line. In the case of continual upbeat moves, the index is expected to test the 3060.00 level.
Trade suggestion
Buy Stop at 3040.00, take profit at 3060.00, stop loss at 3030.00

Oil Retreats Ahead of OPEC’s Meeting, Market Activily Low on Holiday

Crude oil prices were slightly lower on Thursday. Even though U.S. crude supplies were reported to U.S. crude oil stocks drop last week, investors remained in cautiousness ahead of next week’s meeting of the Organization of the Petroleum Exporting Countries (OPEC) to finalize its proposed cap on production reached earlier this September.

Due to the U.S. Thanksgiving holiday, market activity was low on Thursday. Furthermore, traders were reluctant to take on big price bets amid uncertainties over the outcome of OPEC’s meeting which is scheduled on November 30th.

Energy Minister Alexander Novak stated earlier today that Russia could revise down its 2017 oil production plans by 200,000-300,000 barrels per day (bpd) if a global output freeze comes into force. As reported to be stated by Azerbaijan Energy Minister Natig Aliyev, OPEC will probably propose that other producers cut production by 880,000 bpd for six months starting from next year.

However, according to an OPEC source, OPEC has yet to make a final proposal to non-OPEC countries on joint production cuts, which will not be discussed until Nov. 28 in Vienna.

It remains uncertain whether an output-cut deal could be enough to balance a market that has already been dogged by a glut for more than 2 years. Fatih Birol, Director of the International Energy Agency, said that even if production is cut, higher prices could prompt U.S. shale oil drillers to massively increase their own output.

A weekly report by the U.S. Energy Information Administration on Wednesday showed that U.S. crude oil stocks fell last week after three straight weeks of builds. Crude oil inventories dropped 1.3 million barrels in the week ending November 18 as imports declined while refineries hiked output.
Brent crude has retreated for a third consecutive session after reaching the highest level since October 31 on Monday. The price action failed to breach the long term DMA50 and is heading downwards to the support at 23.6% level. Stochastic lines have escaped from the overbought zone and is pointing down, suggesting further declines.



Trade suggestion
Sell Stop at 48.80, Take profit at 48.20, Stop loss at 50.00

Daily Report on November 25, 2016

The U.S. dollar pared a weekly surge on Friday, as its rally came to a halt when investors took profit in the last session of the week. Global equities were higher with the MSCI All-Country World Index extending its weekly advance to 1.1 percent. U.S. equity-index futures advanced with Treasury yields following the Thanksgiving holiday. Gold scaled back from a nine-month low, while crude price trimmed its second weekly gain.

Oil dropped more than 1% on Friday as investors cast doubt on the outcome of the OPEC’s meeting next week while Arab Saudi was reported to increase its supplies to Asian clients. According to market sources, Saudi Aramco will push its supplies to some Asian customers higher in January as Russia has overtaken its place as top supplier to China. Even an output-cut deal is reached on November 30th; it will not impact supplies until February 2017 because most exporters sell their supplies two months ahead.

The Office for National Statistics on Friday confirmed that Britain's economy grew 0.5 percent in the third quarter. The solid growth was powered by a rebound in net exports which added 0.7 percentage points to economic growth, and robust household spending. In overall, the economy expanded 2.3 percent versus the same period last year, which is unchanged from a preliminary estimate.

Elsewhere, a budget outline from Japanese government showed that Japan plans only a modest boost to government spending next year. Prime Minister Shinzo Abe looks set to take a different policy direction than one expected from U.S. President-elect Donald Trump, who has pledged to reinforce fiscal stimulus. The budget document reiterates the government's ambitious aim to boost annual economic output by 20 percent to 600 trillion yen ($5.29 trillion) by fiscal 2020.

Technicals
EURUSD

Fig: EURUSD H4 Technical Chart
EURUSD extended its correction from the lowest level since early-December, 2015. However, the upside seems limited as the pair is struggling around the short-term MA20 at 1.05849. RSI failed to move past the 50 line to confirm the uptrend. Therefore, the pair is anticipated to slide further.
Trade suggestion
Sell Stop at 1.05700, Take profit at 1.05000, Stop loss at 1.06000

GBPAUD

Fig: GBPAUD H4 Technical Chart
GBPAUD has been trading in a thin range after it breached the 50.0% Fibonacci retracement at 1.67630. The price action has broken below the short-term MA20 and is likely to cross over the long-term MA50 as well. With RSI having moved past the 50 line and pointing down, the pair may retest the support at 1.66650
Trade suggestion
Sell Stop at 1.67400, Take profit at 1.66650, Stop loss at 1.77000

GOLD

Fig: GOLD H4 Technical Chart
Gold rebounded from the support at 61.8% - the lowest level last seen in early-February. Gold market is in a correction after a steady slide sent the market into the oversold zone. The precious metal may have to resume its downside soon as the short-term MA20 and the resistance at 1200.00 are within the sight.
Trade suggestion
Sell Limit at 1200.00, Take profit at 1180.00, Stop loss at 1210.00

FTSE 100

Fig: FTSE 100 Index H4 Technical Chart
FTSE 100 index has broken above the resistance at 6820.00. In general, the index has been moving sideways around this level for most part of the week. As RSI is pointing to a market in favor of buyers and two MAs are hanging below the price action, the U.K. stock benchmark may edge higher.
Trade suggestion
Buy Stop at 6850.00, Take profit at 6900.00, Stop loss at 6825.00

NZD/USD signal by Capital Street FX

From GMT 08:00 25/11/2016
Till GMT 21:00 25/11/2016

Buy at 0.70350
Take profit at 0.70550
Stop loss at 0.70000

U.S. Dollar Rally Halts In Postholiday Trading But Gold Remains Weak
Gold prices continued to drop on Friday, hitting a fresh 9-month low at $1170.77 per ounce even though the U.S. dollar’s bull run paused today.

The precious metal plummeted about 3.6% for the week as the dollar index notched its highest level in over a decade amid rising speculations that the Federal Reserve will nudge interest rates higher next month. Higher interest rates are typically negative for non-yielding assets such as gold. Additionally, stronger greenback makes gold less affordable for buyers holding other currencies.

The dollar’s rally came to a halt on Friday. However, with economic data remaining positive, financial markets see a 93.5% chance the central bank will raise rates a quarter-point to a range of 0.5% to 0.75% during its next policy meeting in mid-December

Trade suggestion

Sell Stop at 1180.00, take profit at 1170.00, stop loss at 1185.00

U.S. Non-farm Payrolls Remain Key Data, OPEC Meeting Awaited

The U.S. dollar weakened against a basket of major currencies in a shortened post-holiday trade on Friday as traders took profit after a strong rally that sent the greenback to nearly 14-year highs. The U.S. market was closed on Thursday for the Thanksgiving holiday and Friday was a half-day session.

The dollar index slid by 0.28% to 101.48 late Friday after having risen around 6% in the last two months due in part to expectations that increased fiscal spending and tax cuts under the Trump administration will spur economic growth and inflation. Furthermore, the fact that a rate hike by the Federal Reserve in December is a near certainty has also boost the dollar as higher interest rates make the currency more attractive to yield seeking investors.

Past week’s U.S. economic reports all contributed to supporting the case of a rate hike next month. Existing home sales, durable goods, the University of Michigan consumer sentiment index and the Richmond Fed index all exceeded economists’ forecast, indicating that the U.S. economy is improving. Next week’s data including consumer confidence, the ISM manufacturing index and nonfarm payrolls are highly expected to help the dollar sustain its bullish run.

The Euro pulled back on Friday after hitting the lowest level since early December 02nd, 2015 at $1.05171. In the week ahead, the focus for the single currency will be on German consumer prices on Tuesday, Eurozone Flash CPI on Wednesday and Manufacturing PMI on Thursday. Before those economic reports, European Central Bank President Mario Draghi is due to testify about the ECB’s outlook on economic and monetary developments and the consequences of Brexit to the Economic Committee in the European Parliament on Monday.

The Canadian dollar is anticipated to fluctuate widely next week as markets will be paying close attention to the outcome of the 171st OPEC meeting starting on November 30th. If OPEC failed to reach an output-cut agreement, oil prices will crash, sending CAD sharply lower. The cartel’s decision may overshadow Canada’s Q3 GDP report due on the same day. However, next Friday’s employment numbers should return as a key driver for the Loonie.

Sterling turned higher against the dollar last week but still remained in a consolidation. U.K. Chancellor Hammond’s first statement on the Budget last Wednesday showed that growth forecasts for the next 2 years were lowered. However, the Chancellor announced a new National Productivity Investment Fund of 23 billion pounds, promising more borrowing and investment in innovation and infrastructure. These new spending plans helped send sterling higher versus most of its peers. U.K. PMI manufacturing and construction numbers are scheduled for release next week.

There are no major New Zealand economic reports on the calendar in the week ahead except for the Financial Stability Report. Australia has retail sales and manufacturing PMI numbers scheduled, but the Aussie’s movement is expected to be driven by Chinese PMIs and commodity prices.

Daily Report on November 28, 2016

Asian equities rose on Monday as gains in utilities and consumer shares overweighed losses in energy producers. The MSCI Asia Pacific Index rose 0.8 percent, with the sub-gauge of utilities advancing 1.4 percent. The Hang Seng Index edged 0.8 percent higher while a gauge of mainland companies traded in the city soared 1.1 percent. The Shanghai Composite Index ticked up by 0.5 percent.

Metal surged with zinc rallying 4.2 percent, heading for its highest close in nine years in London, as bullish speculative sentiment in China spurred a fresh surge for industrial metals. Lead looks set for its strongest settlement since 2011 while gold climbed.

Crude oil opened the first session of the week with a gap down as prospects for an OPEC production freeze agreement at the group’s formal meeting Wednesday faded after Saudi Arabia on Sunday showed signs of unwillingness to join such deal.

According to the Saudi newspaper Asharq al-Awsat, Khalid Al-Falih, the Saudi oil minister on Sunday stated that “We expect demand to recover in 2017, then prices will stabilize, and this will happen without an intervention from OPEC,”. The kingdom also withdrew from talks originally scheduled for Monday with producers outside the Organization of Petroleum Exporting Countries.

Lower oil prices which help reduce inflationary pressure, sapped momentum for a sell-off in U.S. Treasuries. Ten-year Treasuries rose for the first time in three sessions, pushing yields down three basis points to 2.33 percent. The dollar's index has slid 0.5 percent so far on the day to 100.89 after reaching its 13 1/2-year high of 102.05 touched on Thursday.

Technicals
AUDUSD

Fig: AUDUSD H4 Technical Chart
AUDUSD extended its rally to a fifth in the last six trading days. The pair has successfully breached the 38.2% Fibonacci level at 0.74500 after having crossed over a couple of MAs. The short-term MA20 has penetrated the long-term MA50 from below, consolidating the uptrend.
Trade suggestion
Buy Stop at 0.74800, take profit at 0.75300, stop loss at 0.74500

USDCAD

Fig: USDCAD H4 Technical Chart
USDCAD has been trading in a shrinking range which has created higher lows and lower highs. The pair rebounded following a slide from the upper boundary. As can be seen from the chart, two MAs have been supporting the price. RSI has returned to the bullish area, indicating dominating buyers.
Trade suggestion
Buy Stop at 1.34800, take profit at 1.35200, stop loss at 1.34600

SILVER

Fig: SILVER H4 Technical Chart
Silver’s price action has crossed over the long-term MA50 after breaching the 61.8% Fibonacci level. RSI has entered the bullish territory for the first time since November 10th. The grey metal is expected to extend its rally to re-attempt the resistance at 17.075.
Trade suggestion
Buy Stop at 16.800, take profit at 17.075, stop loss at 16.650

BRENT

Fig: BRENT H4 Technical Chart
Brent resumed its downtrend after scaling back from the lowest level since November 10th at 46.46. The commodity had almost reached the 23.6% level but bulls failed to sustain the bullish momentum. While RSI has neared the oversold zone, ADX is still on a rise. Downward pressure from two MAs is expected to send the price lower.
Trade suggestion
Sell Stop at 46.90, take profit at 46.00, stop loss at 47.30

DAX 30

Fig: DAX 30 Index H4 Technical Chart
Germany’s DAX 30 index has been moving sideways to lower for nearly three weeks. The benchmark has been under downward pressure from a couple of MAs that have restrained the prices from surging higher. RSI keeps swinging back and forth around the 50 line. The indicator is heading downwards, suggesting a stronger bearish momentum. The index may retest the support at 10600.00.
Trade suggestion
Sell Stop at 10670.00, take profit at 10600.00, stop loss at 10700.00

USD/JPY signal by Capital Street FX

From GMT 06:00 28/11/2016
Till GMT 21:00 28/11/2016

Buy at 112.100
Take profit at 113.200
Stop loss at 111.500

Cooler Weather Fuels Natural Gas Upbeat Moves

U.S. natural gas futures rose to the highest level since October 25 on the back of more “normal weather” forecasts which continue to raise expectations for increased demand.

Natural-gas futures for December delivery has soared to $3.190 a million British thermal units on the New York Mercantile Exchange, up nearly 4% compared to the last close at $3.069/mmBtu on Friday. The commodity has been on a rise since it rebounded from three-month low at $2.546/mmBtu logged on November 11. The rally has sent the price higher by more than 25%, recording the best two-week run since the end of 2015.

Weather forecasts on Friday broadly predicted some below-average temperatures settling in, though not temperatures as cold as previous forecasts. However, the longer-term trend has been a return toward normal as the historic warmth that started the autumn has seemingly come to an end.

About half of all U.S. households use gas for cooling and heating. Therefore, weather has been the most-common driver for demand and prices. The lower the temperature drops in the winter, the higher the demand for natural gas for heat. Autumn is usually the time when traders position themselves for the winter-heating season, and many investors have been betting that a decline in drilling activity and record gas consumption from power plants would scale back a glut that has plagued the market.

Natural gas is trading comfortably above the 23.6% Fibonacci retracement at 3.086. Before breaking above one of major Fib. handles, the price action had penetrated the long-term DMA50 from below, consolidating the uptrend. With RSI poiting upwards and a divergence between +DI and -DI lines, natural gas prices are expected to test the resistance at 3.280.

Trade suggestion
Buy Stop at 3.190, take profit at 3.280, stop loss at 3.100

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

Daily Report on November 29, 2016

European shares and developed Asian stocks declined on Tuesday as oil dropped on disagreement that remains among OPEC members over which producers should cut by how much. While Asia Pacific Index shed 0.1%, Japan’s Topix Index, Australia’s S&P/ASX 200 Index and New Zealand’s S&P/NZX 50 Index were all little changed.

WTI crude prices pulled back below $47 per barrel after Iraq and Iran raised objections with OPEC officials over how to distribute output reductions, referring the issue to ministers for further consideration. The cartel has also failed to work out a plan for non-OPEC oil giant Russia to participate in its output-cut deal.
A rally in metals ran out of steam with copper slumping for the first time in seven days. Copper futures lost 1.6 percent on the London Metal Exchange, nickel plunged 2.2 percent while zinc edged 1.5 percent lower. Gold also retreated on Tuesday following last session’s 0.9 percent advance.

In China, the government was reported to step up efforts to contain runaway property prices. According to market sources, the People Bank of China has clamped down further on mortgage lending in areas deemed overheated by asking lenders in those cities to suspend distributing new home loans.

Technicals
EURUSD

Fig: EURUSD H4 Technical Chart
EURUSD reversed lower from the highest level since November 17, 2016 at 1.06852 as bulls failed to support the price to surge higher above the long-term MA50. The pair has fallen back below the dynamic resistance and looks set to retest the lowest level since last early-December.
Trade suggestion
Sell Stop at 1.05800, Take profit at 1.05200, Stop loss at 1.06100

NZDUSD

Fig: NZDUSD H4 Technical Chart
NZDUSD is about to reattempt the resistance at 0.71000. The pair failed to break above this level yesterday. However, with a soaring RSI index and a divergence between the +DI and –DI lines of ADX chart, a breakout is expected. Additionally, the upside has been supported by the fact that the short-term MA20 has penetrated the long-term MA50 from below.
Trade suggestion
Buy Stop at 0.71000, Take profit at 0.71400, Stop loss at 0.70800

GOLD

Fig: GOLD H4 Technical Chart
Gold has been moving indecisively under the 1200.00 threshold for nearly a week. The precious metal price is struggling around the short-term 20-period MA20 and remains under downward pressure from the long-term MA50. As RSI index is pointing downward under the 50 line, bearish momentum may send gold price lower.
Trade suggestion
Sell Stop at 1185.00, Take profit at 1173.00, Stop loss at 1190.00

WTI

Fig: WTI H4 Technical Chart
U.S. crude prices pulled back from the 50.0% Fibonacci level at 47.44. The prices were contained by both the Fibonacci handle and a couple of MAs. The short-term MA20 is much likely to cross over the long-term MA50, consolidating a reversal into a downtrend. %K line is running ahead of the %D line, supporting further down moves.
Trade suggestion
Sell Stop at 46.20, Take profit at 45.20, Stop loss at 46.70

NZD/JPY signal by Capital Street FX

From GMT 07:15 29/11/2016
Till GMT 21:00 29/11/2016

Buy at 79.460
Take profit at 80.400
Stop loss at 79.000

Tiffany & Co. Q3 Results Surprisingly Top Forecasts

Shares of Tiffany & Co. surged nearly 5% in premarket trade on Tuesday, after the high-end jewelry seller posted fiscal third-quarter results that surged above expectations. The jewelry retailer reported earnings the three-month period ending October 31 increased to $95.1 million, or 76 cents a share, from $91.0 million, or 70 cents a share, in the same period a year ago. The reading beats projections calling for a decline to 67 cents.

The company’s revenue was announced to advance to $949.3 million from $938.2 million, beating estimates for a decline to $923.8 million. Although same-store sales fell 2% last quarter, the drop was less than feared. While net sales in Europe slid below expectation, those in the Americas, Asia-Pacific and especially Japan topped market forecasts.

Trade suggestion
Buy Stop at 81.75, take profit at 83.00, stop loss at 81.00

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