Daily Technical Analysis by Capital Street FX

GBP/USD signal by Capital Street FX

From GMT 07:00 06/12/2016
Till GMT 21:00 06/12/2016

Buy at 1.27500
Take profit at 1.28500
Stop loss at 1.27000

Bank of Montreal Raises Share Dividend As Earnings Results Top Forecast

Shares of Bank of Montreal were up 0.65% to $89.58 in pre-market trading on Tuesday after the lender revealed its fourth-quarter earnings that was well ahead of market expectations.

The bank’s earnings per share rose to C$2.10 for the quarter to October 31st from C$1.90 a year earlier, beating forecasts calling for earnings of C$1.85. The Canada’s fourth-biggest lender witnessed its net income gained 11% to $1.35 billion, up from $1.21 billion in the same quarter last year.

Thanks to strong performance by its U.S. personal and commercial business, BMO’s revenue reached C$5.28 billion in the last quarter. That was 6.0% higher than C$4.98 billion the bank earned during the fourth quarter of last year. As the result, BMO boosted its quarterly dividend by two cents to 88 cents per share.

Trade suggestion
Buy Stop at 89.58, Take profit at 90.00, Stop loss at 89.40

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Sterling Loses Ground After Government Backs May’s Plan

Sterling extended its losses against the dollar in Asian trading hours on Wednesday after reversing lower from a two-month high on Tuesday.

The pair had surged as high as $1.27745 in early European session as investor confidence was partly fueled by remarks from Brexit minister David Davis that the government may be willing to pay into the EU budget in return for access to the single market. The rally was also spurred by expectations that the government would lose a court battle to begin the formal process for leaving the EU without parliamentary approval.

However, the government has stated that parliament should respect the result of the June referendum and showed signs of support to Prime Minister Theresa May’s intention to invoke Article 50 by the end of March next year. This means investors’ hopes that Brexit might be delayed have been damped.

Trade suggestion
Sell Stop at 1.26500, Take profit at 1.26000, Stop loss at 1.26750

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NASDAQ 100 signal by Capital Street FX

From GMT 09:10 07/12/2016
Till GMT 21:00 07/12/2016

Buy at 4800.00
Take profit at 4835.00
Stop loss at 4785.00

Dow Jones Set New Record High Regardless of Slump In Health-care Shares

U.S. stocks shook off early weakness in the health-care sector on Wednesday to rise to all-time highs. The benchmark Dow Jones Industrial Average jumped nearly 2% to reach an all-time trading high of 19,475.51, on track for its third consecutive record close.

Health-care shares plunged early Wednesday after President-elect Donald Trump threatened to cut drug prices. The president-elect, who had already been critical of drug prices while on the campaign trail, told Time in his “Person of the Year” cover story that “I’m going to bring down drug prices,” because ““I don’t like what has happened with drug prices.”

Shares of Johnson & Johnson lost -1.46% while those of Pfizer Inc. and Merck & Co. Inc. were down 1.92% and 1.10%, respectively.
The drop in health-care names was offset by gains in American Express Co., Home Depot Inc. and United Technologies Corp. which rallied more or less than 2% each.

Trade suggestion
Buy Stop at 19470.00, Take profit at 19600.00, Stop loss at 19000.00

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Daily Report on December 08, 2016

Asian shares continued to rise on Thursday, ignited by fresh U.S. equity records. Both the S&P 500 Index and the Dow Jones Industrial Average rose to all-time high records yesterday, thanks to wagers that the European Central Bank may extend its asset buying program at a policy meeting due later today. The MSCI Asia Pacific Index soared 1.2% to its peak in one month, extending gains for a third day. Japan’s Topix index climbed 0.9% while gauges in Australia, South Korea and Hong Kong were also higher.

Risk appetites got an added boost after the Chinese General Administration of Customs reported upbeat trade figures for November. Official data on Thursday showed the country’s exports rose unexpectedly by 0.1% from a year earlier, while imports climbed 6.7% on strong demand for commodities. That left the country with a trade surplus of $44.61 billion for the month.

The euro was steady around 1.07700 versus the dollar with market attention turning to the ECB meeting. ECB chief Mario Draghi is expected to prolong the bank’s 80 billion euros ($86 billion) a month of bond purchases beyond March in the wake of Italy's "No" vote last weekend.

Crude price kept declining on Tuesday even after weekly report from the U.S. Energy Information Administration on Wednesday showed a deeper-than-expected draw in U.S. stockpiles last week. Crude oil inventories in the U.S. were reported to fall by 2.4 million barrels in the week that ended on Dec. 2, compared with analyst expectations for a draw of 1 million barrels. However, government data also pointed out that oil supplies at Cushing, Oklahoma, the biggest U.S. storage hub for crude futures, increased by a hefty 3.8 million barrels last week. This is the biggest weekly added amount since 2009.

In Japan, final third-quarter GDP reported by the Cabinet Office showed the economy expanded less than was projected. The Japanese economy grew an annualized 1.3% after economists predicted a rate of 2.3% with capital expenditure shedding 0.4% in the quarter and inventories subtracting 0.3 percentage point from growth.

Technicals
EURGBP

Fig: EURGBP H4 Technical Chart
EURGBP has been moving sideways since yesterday after surging to around 0.85200. The short-term MA20 is heading upwards, attempting to cross over the long-term MA50 from below. With support from two MAs, the pair may approach the resistance at 0.85800. RSI remains above 50, consolidating further up moves.
Trade suggestion
Buy Stop at 0.85200, Take profit at 0.85800, Stop loss at 0.84.900

EURUSD
Fig: EURUSD H4 Technical Chart
EURUSD has been on a rise following a consolidation at around 1.07200. The rally has been bolstered by two MAs hanging under the price action. Both RSI and ADX are soaring, confirming a strong upside. The pair may attempt the resistance at 1.08500.
Trade suggestion
Buy Stop at 1.08000, Take profit at 1.08500, Stop loss at 1.07850

Natural Gas

Fig: Natural Gas H4 Technical Chart
Natural Gas futures rebound from the 0.0% Fibonacci level at 3.540. The price was also supported by two MAs moving below the price action. Buyers seem to overwhelmingly dominate in the market as can be seen from the indicator chart, RSI has pulled back from the central line to move upwards in the bullish zone.
Trade suggestion
Buy Stop at 3.620, Take profit at 3.740, Stop loss at 3.560

EURO 50

Fig: EURO 50 H4 Technical Chart
Euro 50 index has been on a correction after surging as high as 3160.00 – the highest level since April 21st.The rally from as low as 2974.10 had sent the pair into the overbought market which prompted investors to book profit. A reversal may occur around the support at 3122.00
Trade suggestion
Buy Limit at 3122.00, Take profit at 3160.00, Stop loss at 3110.00
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Costco Posts a Rise in Profit As Same-store Sales Turn Higher

Shares of Costco Wholesale Corp. rose 1.4% to 156.00 in after-hours trading on Wednesday after the big box retailer announced a better-than-expected rise in profit for its fiscal first quarter of 2017.

For the three-month period to November, Costco reported a profit of $545 million, or $1.24 a share, up 13.5% from $480 million, or $1.09 a share, a year earlier, thanks to upbeat results from same-store sales that pointed to an expansion for the first time in the past three quarters.

The company’s same-store sales advanced 1% in the November quarter, sending revenue 3.2% higher to $28.1billion. Net sale also jumped 3.2% to $27.5 billion. Markets had expected for earnings of $1.19 a share on $28.3 billion in revenue.

Trade suggestion
Buy Stop at 156.00, Take profit at 159.00, Stop loss at 155.00

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Euro Witnesses Sharp Decline after ECB Extends Bond-buying Program

The euro swung from gains to losses on Thursday following the European Central Bank’s monetary policy statement that showed the central bank would extend but at the same time taper its monthly bond-buying program in April.

Considering uncertainties from both inside and outside the 28-nation bloc namely Brexit, the U.S. election and the Italian referendum, the ECB decided to expand its quantitative-easing program to exceed 2.2 trillion euros ($2.4 trillion) by the end of 2017. However, the monthly pace will be reduced to 60 billion euros ($65 billion) a month from 80 billion euros currently.

According to the statement, the Governing Council may “increase the program in terms of size and/or duration” if the outlook becomes less favorable or if financial conditions become inconsistent with further progress toward a sustained adjustment of the path of inflation”.

Following ECB’s monetary policy, the U.S. Federal Reserve will hold its own meeting which is widely expected to witness the second rate hike in 10 years. The divergence in policy between two central bank is likely to send the pair EURUSD lower.

Trade suggestion
Sell Stop at 1.06100, Take profit at 1.05700, Stop loss at 1.06300

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USD/CHF signal by Capital Street FX

From GMT 15:45 08/12/2016
Till GMT 21:00 08/12/2016

Buy at 1.01600
Take profit at 1.02000
Stop loss at 1.01400

Shares of Broadcom Take Off on Doubled Revenue and Upbeat Outlook

Shares of Broadcom Ltd. gained nearly 4% in after-hours trading on Thursday even after the chip maker posted a loss in the latest quarter. For the three-month period ending October, Broadcom posted a loss of $632 million, or $1.59 a share, compared with a year-earlier profit of $429 million, or $1.49 a share.

However, adjusted per-share earnings excluding one-time items rose to $3.47 from $2.51 recorded one year ago. The figure was better than expectations calling for a per-share profit of $3.38. Furthermore, the company’s revenue more than doubled to $4.14 billion from $1.84 billion, comfortably topping forecast of $4.13 billion revenue.

The chip maker also gave a positive outlook for the current quarter, expecting net revenue of about $4.07 billion and a gross margin of roughly 47% in the fiscal-first quarter. The interim dividend, payable on Dec. 30, was raised to $1.02 a share.

Trade suggestion
Buy Stop at 177.40, Take profit at 180.00, Stop loss at 176.00

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NZD/JPY signal by Capital Street FX

From GMT 09:00 09/12/2016
Till GMT 21:00 09/12/2016

Buy at 82.100
Take profit at 82.600
Stop loss at 81.900

Daily Report on December 09, 2016

Global shares continued to trade in a positive territory on Friday with European stocks climbing towards their best week since February. European shares advanced for a fifth session after the European Central Bank decided to extend its quantitative-easing program until the end of 2017. The Stoxx Europe 600 Index rose 0.3%, U.K. benchmark FTSE 100 added 0.14%, and France’s CAC 40 gained 0.20% while Germany’s DAX 30 retreated.

According to a statement in Frankfurt on Thursday, the Governing Council will increase its asset-buying program to exceed 2.2 trillion euros ($2.4 trillion). The central bank will continue to purchase assets after the initial expiry date in March but the month speed from April will be reduced to 60 billion euros ($65 billion) a month from 80 billion euros currently. The bank also stated that it can step up or prolong purchases if needed.

Oil rose a second day ahead a meeting this weekend in Vienna between the Organization of Petroleum Exporting Countries and 14 other nations. As stated by a government official familiar with the matter, Russia may fulfill its pledge to cut output by as much as 300,000 barrels a day if OPEC follows through on its commitment to curb production.

Elsewhere, China’s producer price index and consumer price index both came in above expectations on Friday. The reading from the National Bureau of Statistics for factory-gate inflation rose to the highest since late 2011. The PPI jumped 3.3% in November from a year earlier with prices in the mining industry surging 14.8%. Consumer prices picked up 2.3 percent on rising food costs which added 4 percent in the month.

Technicals
USDJPY

Fig: USDJPY H4 Technical Chart
USDJPY continued to swing back and forth around the 61.8% Fibonacci level at 114.113. In general, the pair has been supported by a couple of two moving averages. Bullish force remains dominating the bearish one, as stated by the RSI index which is surging higher. The pair may attempt the resistance at 116.00.
Trade suggestion
Buy Stop at 114.800, Take profit at 116.00, Stop loss at 114.200

EURGBP

Fig: EURGBP H4 Technical Chart
EURGBP has been on a sharp rise after a volatile trading yesterday. The pair broke out of a consolidation before rising as high as 0.85718 on Thursday. However, EURGBP quickly lost its bullish steam and fell off below the 0.84600 support. With two MAs hanging above the price action and a RSI that heading downwards, the pair is expected to hit the support at 0.83700.
Trade suggestion
Sell Stop at 0.84100, Take profit at 0.83700, Stop loss at 0.84300.

WTI

Fig: WTI H4 Technical Chart
U.S. crude sustained its rally from one-week low at 49.60 thanks to a boost from the long-term MA50. The advance has sent the price above the short-term MA20. The RSI index is pointing upwards after moving past the 50 line. The crude price may retest the high at 52.30 in the event of continual upbeat moves.
Trade suggestion
Buy Stop at 51.50, Take profit at 52.30, Stop loss at 51.10

FTSE 100

Fig: FSTE 100 Index H4 Technical Chart
FTSE 100 index has fallen into a correction following a sharp advance that brought the index above the 6920.00 resistance. A correction is resulted from an overblown market. As can be observed from the RSI indicator window, the index has just retreated from the overbought zone. In case of continual gain, the index may hit the 7,000.00 threshold.
Trade suggestion
Buy Stop at 6950.00, Take profit at 7000.00, Stop loss at 6920.00

Crude Oil To Open Higher, Focus on Fed and Yellen’s Remarks

U.S. stock market closed higher on Friday, after having set a string of record highs since the victory of the President-elect Donald Trump who pledged to bolster the world’s largest economy by increasing infrastructure spending, lowering taxes and loosening regulations.

At the close in NYSE on Friday, the Dow Jones Industrial Average gained 0.72% to hit a new all-time high at 19777.00, S&P 500 index climbed 0.59% to finish at 2259.54 while the NASDAQ Composite index gained 0.50%.

Coupled with a raft of pro-business policies by Trump, the broad-based rally was also supported by upbeat economic data. The University of Michigan’s report on consumer sentiment, a gauge of confidence in the economy, rose to 98.0 in December. The reading was just one-tenth of a percent from a cycle high recorded in 2015, which was the highest since 2004.

For the next week, investors will be looking at clues from the U.S. Federal Reserve on how aggressive the central bank will hike rate next year amidst little doubt that the Fed will raise interest rates for the first time in a year on Wednesday. The Fed remains the sold central bank that is considering tightening its monetary policies against the background where others are mulling over more easing or keeping policy steady for a long period of time.

While markets are pricing in a near 100 percent chance for a quarter percentage point increase at Fed’s final meeting of 2016, President Janet Yellen’s guidance on a timetable for future tightening is eagerly expected when the U.S. central bank meets next week.

On the data front, major reports from the U.S. will come out on Wednesday and Thursday. The U.S. is to release data on retail sales on Wednesday. Retail sales are forecast to have advanced by 0.3% in November after a larger than expected 0.8% increase in October. A chain of data, including reports on consumer prices, jobless claims and manufacturing activity in both the Philadelphia and New York regions will be published on Thursday.

Additionally on Thursday, investors will also be focusing on a news conference U.S. President-elect Donald Trump for any hints about his economic policy plans.

Besides the Fed, the Bank of England and the Swiss National Bank are two other banks that are expected to keep its key rate steady at their policy-setting meetings on Thursday.

The euro dropped to as low as 1.05300 on Friday before paring some losses to close at 1.05551. The European Central Bank extended its asset purchases, albeit at a slower pace, on Thursday. Considering uncertainties from both inside and outside the 28-nation bloc namely Brexit, the U.S. election and the Italian referendum, the ECB decided to expand its quantitative-easing program to exceed 2.2 trillion euros ($2.4 trillion) by the end of 2017. However, the monthly pace will be reduced to 60 billion euros ($65 billion) a month from 80 billion euros currently.

According to the statement, the Governing Council may “increase the program in terms of size and/or duration” if the outlook becomes less favorable or if financial conditions become inconsistent with further progress toward a sustained adjustment of the path of inflation”.

The Canadian dollar, on the other hand, rose steeply on the back of the rebound in oil prices and the fact that the Bank of Canada left rates unchanged last Wednesday.

Crude prices are expected to start next week with a sharp jump after producers from outside the OPEC agreed to reduce output following a production cut deal by the 13-country group. Another 558,000 bpd will be slashed from global supplies after OPEC agreed to trim its production by 1.2 million barrels per day from Jan. 1. Top exporter Saudi Arabia had pledged to reduce as much as 486,000 bpd and may cut even deeper, Saudi oil minister Khalid al-Falih said after Saturday’s meeting.
Top non-OPEC producer, Russia, will cut 300,000 bpd.

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Daily Report on December 12, 2016

Asian shares were mostly lower on Monday even though energy stocks were fueled by rising oil prices. The MSCI Asia Pacific Index dropped 0.4 percent, with Chinese markets tumbling the most. Coupled with worsening concern about the outlook for the property market, Shenzhen shares lost 4.9 percent also due to the fact that the nation’s insurance regulator banned some insurers from further investing in stocks, which spurred selling. The Shanghai Composite Index shed 2.4 percent while Hong Kong’s Hang Seng Index was off 1.4 percent.

Crude prices shot up by more than 4% to their highest level since 2015 after OPEC and non-OPEC producers reached their first deal since 2001 to jointly reduce output. Over the last weekend, producers from outside OPEC including the world’s top producer Russia, agreed to reduce output by 558,000 bpd. Although the deal was short of the initial target of 600,000 bpd but it still remains the largest contribution by non-OPEC ever.

Before that, the 13-nation cartel had signed an agreement to slash output by 1.2 million bpd from January 1st. Top exporter Saudi Arabia pledged to cut around 486,000 bpd to just below 10.1 million. Russia said it would gradually cut 300,000 bpd.

Japan’s Cabinet office data released on Monday showed that the country’s October core machinery orders rose for the first time in three months. Core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months were reported to soar 4.1 percent on a monthly basis in October, beating the economists' median estimate of a 1.0 percent increase.

Technicals
GBPCHF

Fig: GBPCHF H4 Technical Chart
GBPCHF has been trading sideways to higher since last Thursday. The pair has been supported by two moving averages that are hanging below the price action. However, as can be observed from last candles, long upper shadows show bulls were not strong enough to sustain its bullish momentum but bears were too weak to reverse the price direction. With RSI pointing upwards and a divergence between the +DI and –DI lines, the pair is expected to tick up.
Trade suggestion
Buy Stop at 1.28300, Take profit at 1.28800, Stop loss at 1.28000

AUDCAD

Fig: AUDCAD H4 Technical Chart
AUDCAD has fallen below the 0.98000 threshold for the first time since early-September. The pair is moving in a sideways around 0.97807 as RSI has neared the oversold zone. The price may fall deeper to test the 61.8% support as bullish momentum is suppressed by two MAs lingering above the price action.
Trade suggestion
Sell Stop at 0.97800, Take profit at 0.97400, Stop loss at 0.98000

Sugar

Fig: Sugar H4 Technical Chart
Sugar resumed its down moves following a correction that brought the metal to as high as 19.81. The price action penetrated the short-term MA20 from above again and is approaching the 38.2% Fibonacci support at 18.75. As RSI remains below 50, sugar is anticipated to extend its losses.
Trade suggestion
Sell Stop at 19.20, Take profit at 18.75, Stop loss at 19.40.

SILVER

Fig: SILVER H4 Technical Chart
Silver has been on a decline since it reversed lower from the resistance at 17.200. The metal continued to broke below the support at 16.850 after crossing over the short-term MA20 at 16.941. Silver is struggling around the long-term MA50 at 16.738. RSI has fallen below the 50 line for the first time since early December, indicating a strengthening bearish force.
Trade suggestion
Sell Stop at 16.730, Take profit at 16.550, Stop loss at 16.850.

Copper Edges Higher on China’s Upbeat PPI and Goldman Sachs Forecasts

Copper futures opened higher on Monday, jumping by nearly 1.2% compared to the last close before paring some gains to trade around 1.26670. The rally in early Asian trading hours was spurred by last week’s strong Chinese economic figures and latest market outlook by Goldman Sachs which pointed to a more “bullish” environment for the metal next year.

According to the National Bureau of Statistics, producer prices in China, the world’s top metals consumer, rose to its highest level in five years in November in the wake of rising industrial commodities. China’s producer price inflation advanced 1.2% on a monthly basis and 3.3% year on year last month, the fastest pace since late 2011. Upbeat readings for other areas such as the United States and Europe also contributed to copper’s demand outlook.

In a note dated on Sunday, Goldman Sachs stated that “The improvement in demand growth was much stronger than we had anticipated and appears likely to absorb much of the ‘wall of supply’ that we had expected would drive prices lower during 2H16 and early 2017,”. Therefore, the supply-demand balances for the commodity may become more bullish at least to mid-2017.

The investment bank forecast a copper deficit of around 180,000 tons for 2017, contrasting to earlier estimates of a 360,000-tonne supply surplus. The metal’s price for the next three months, six months, and 12 months were also anticipated higher to $5,800, $6,200 and $5,600 a tonne, respectively from $5,000, $4,800 and $4,800.

Copper seemed to have broken out of the 38.2% resistance at 2.6660 but the metal failed to sustain its bullish strength. The price action has been moving in a shrinking range formed by higher lows and lower highs. The prices reversed lower after hitting the upper boundary and are about to face a couple of moving averages. The short-term MA20 is expected to be a solid support that will sends the price higher.

Trade suggestion
Buy Limit at 2.6600, Take profit at 2.6800, Stop loss at 2.6500

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GBP/AUD signal by Capital Street FX

From GMT 11:00 12/12/2016
Till GMT 21:00 12/12/2016

Sell at 1.68300
Take profit at 1.67700
Stop loss at 1.68600

Updates on Warmer Weather Snap Natural Gas’ Rally

Natural gas prices plummeted on Monday, weighed down by concerns that warmer weather indicated by latest forecasts may curb demand for the commodity.

Natural gas for January delivery hit an intra-day low at $3.471 a million British thermal units on the New York Mercantile Exchange, down nearly 7% compared with the last close. Prices had surged consistently in the last four weeks to reach the highest levels in two years thanks to weather forecasts that showed below-average temperatures this winter after an unusually warm autumn.

However, according to updates released over the weekend, temperatures are anticipated to not be as cold as previously expected, with warmer-than-typical temperatures across the eastern U.S.

Trade suggestion
Sell Stop at 3.550, Take profit at 3.470, Stop loss at 3.590

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Daily Report on December 13, 2016

Asian shares were mixed on Tuesday after paring some losses in early trade. The MSCI Asia Pacific Index rallied 0.3 percent with gains in Japan’s equities and Chinese stocks offset declines in markets of Australia and New Zealand. In Tokyo, the Topix Index closed 0.6 percent higher following an earlier decline of 0.6 percent. The yen reversed lower against the greenback, dropping by 0.3 percent to 115.380 per dollar. Australia’s S&P/ASX 200 Index and New Zealand’s S&P/NZX 50 Index closed down 0.3 percent and 0.4 percent, respectively.

The Shanghai Composite Index trade up 0.1 percent on Monday, rebounding from earlier losses after China’s official data showed stronger-than-expected industrial output and retail sales, which helps boost Chinese regulators’ confidence to curb financial risks by some methods including pushing money market rates higher and curbing leveraged purchases of both stocks and bonds.

Industrial production was reported to jump 6.2 percent from a year earlier in November while retail sales rose 10.8 percent last month. The country has posted its strongest retail sales growth of the year which was led by sales of household electronics, communication appliances and office supplies. Online sales also witnessed a strong advance in November thanks to China’s annual online shopping bonanza Singles’ Day on Nov. 11.

The International Energy Agency on Tuesday reported that OPEC’s crude oil output in November rose by 300,000 barrels per day compared to that of October. The production of the 13-nation cartel reached, a record high of 34.2 million barrels a day, according to the IEA’s its closely watched monthly report. Of that, Saudi Arabia pumped at a record 10.63 million barrels a day in November, up 70,000 barrels a day from the previous month.

Technicals
EURCHF

Fig: EURCHF H4 Technical Chart
EURCHF had to give up its bullish strength after a consolidation around 1.07850. The pair retreated after hitting the short-term MA20 and is struggling at the 23.6% Fibonacci retracement. A RSI index heading to the oversold zone and a stochastic chart that showed both %K line and %D line are heading downwards are indicating a strengthening bearish momentum which can send the price lower.
Trade suggestion
Sell Stop at 1.07500, Take profit at 1.07200, Stop loss at 1.07650

GOLD

Fig: GOLD H4 Technical Chart
Gold reversed lower following a correction yesterday. The precious metal once again broke below the 1160.00 support as the rally could not stand the heat from two MAs that are lingering above the price action. RSI remains in the bearish area and is pointing downwards. Additionally, the –DI and +DI lines are creating a widening gap, suggesting that the metal may attempt the support at 1150.00.
Trade suggestion
Sell Stop at 1157.00, Take profit at 1150.00, Stop loss at 1160.00

WTI

Fig: WTI H4 Technical Chart
U.S. crude oil has rebounded from the support at 52.30 – the level has played an important part as a firm resistance for the price. Oil price failed to break out of the resistance at 54.00 yesterday after a strong surge sent the market into the oversold zone. With RSI heading upwards, the commodity is expected to retest the 54.00 level.
Trade suggestion
Buy Stop at 53.10, Take profit at 54.00, Stop loss at 52.70

NASDAQ 100

Fig: NASDAQ 100 Index H4 Technical Chart
U.S. benchmark NASDAQ 100 futures opened today’s session with a small jump and is trading around the 4800.00 threshold. The index looks set to attempt the all-time high level logged on October 25th at 4923.58 with supports from a soaring RSI and the convergence between the %K line and the %D line of the stochastic chart.
Trade suggestion
Buy Stop at 4885.00, Take profit at 4920.00, Stop loss at 4870.00

Bank Shares Overshadow Weak Mining Sector, Powering FTSE 100 Index

U.K. shares turned higher on Monday thanks to gains in banking stocks that outweighed declines in mining shares.
The advance of London-listed banks’ equities was bolstered by upbeat sentiment from other European counterparts, after Italy’s largest bank by assets, UniCredit SpA UCG said on Tuesday it planned to cut jobs further and sell its assets in order to reinforce its capital base. In addition to the job cuts that had already been planned, UniCredit is about to cut another 6,500 jobs by 2019, bringing total reductions to 14,000, or 10% of its workforce.

The bank, which has a market capitalization of just under EUR15 billion, stated to launch a EUR13 billion ($13.8 billion) rights issue by the end of March and shed EUR17.7 billion of gross bad loans by bundling them into securities to be sold to investors.

Shares of Lloyds Banking Group added1.38%, Standard Charterer gained 1.04% while Barclays PLC moved up 0.53%. Royal Bank Of Scotland Group also picked up 0.4% and HSBC Holdings PLC ticked 0.92% higher.

However, mining shares capped the index’s rally today as metals prices fell on the back of a stronger U.S. dollar. Antofagasta PLC fell 2.26%, Rio Tinto PLC lost 2.01% and BHP Billiton PLC shed 0.96%. Precious metals producer Fresnillo PLC and Randgold Resources PLC were on a decline in the wake of sliding gold prices.

On the economic data front, the Office for National Statistics reported that the U.K.’s annual inflation climbed to its highest annual rate in more than two years. The CPI index rose to 1.2% in November, the highest rate since October 2014. The Bank of England is scheduled to release its last policy decision of 2016 on Thursday, with markets widely expecting that the bank will keep its key interest rate unchanged at 0.25%.

The U.K.’s benchmark rebounded from nearly one-week low at 6868.00 and has broken above the resistance at 6920.00. The bullish momentum has been powered by the short-term MA20 which helped the index reverse higher on Tuesday. As indicated by the RSI that is heading to the overbought zone, the FTSE 100 index may surge higher to retest the 7000.00 threshold.

Trade suggestion
Buy Stop at 6930.00, Take profit at 7000.00, Stop loss at 6900.00

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AUD/USD signal by Capital Street FX

From GMT 07:00 13/12/2016
Till GMT 21:00 13/12/2016

Sell at 0.74800
Take profit at 0.74500
Stop loss at 0.74950