Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

AIG Trade Idea by Capital Street FX

AIG Reports Big Loss, Would Share Buyback Program Support Price?

Shares of American International Group Inc. plummeted more than 4.5% late Tuesday after the multinational insurance corporation posted a fourth-quarter loss.

AIG reported a $3.04 billion net loss, or $2.96 a share in the three-month period to December, compared with a loss of $1.8 billion, or $1.50 a share, in the prior-year quarter. Furthermore, the insurance company also witnessed an after-tax operating loss of $2.8 billion, or $2.72 a share. This was far above the loss of the same period last year with $1.3 billion, or $1.07 a share, and analysts’ expectations for an adjusted per-share loss of 61 cents for the quarter.

The widening loss was due to a $5.6 billion, or $3.56 per share impact from prior year adverse reserve development.

Despite a weaker-than-expected earnings report, AIG’s board announced a $3.5 billion additional share-buyback program in order to keep AIG on track to return at least $25 billion in capital to its shareholders in 2016 and 2017.

Trade suggestion

Buy Limit at 63.50, Take profit 64.50, Stop loss at 63.00

 

[CSFX.Support]

EUR/USD signal by Capital Street FX

From GMT 17:00 15/02/2017
Till GMT 21:00 15/02/2017

Buy at 1.06000
Take profit at 1.06400
Stop loss at 1.05800

 

[CSFX.Support]

Daily Report on February 16, 2017 by Capital Street FX

Daily Report on February 16, 2017



Buoyed by the S&P 500 notching a seven-session winning streak on Wall Street on Wednesday, Asian shares inched higher to mark a fresh 19-month high on Thursday. While Wall Street recorded new highs in all of its stock benchmarks, the U.S. dollar also rose to one-month highs in the wake of upbeat U.S. economic data yesterday. The greenback retreated on Thursday as investors took profit following the currency’s recent bounce.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent to its highest since July 2015, sending the index 10% higher this year. Hong Kong’s Hang Seng jumped 0.4 percent to the highest level since September and the Hang Seng China Enterprises Index advanced 0.2 percent to reach its highest since November 2015.

Meanwhile, Australian stocks gave up early gains and turned lower on the day following labor market data that showed new full-time jobs fell sharply in January. According to the Australian Bureau of Statistics, employment rose by 13,500 in seasonally adjusted terms last month, well above expectations for a gain of 10,000. December reading was also revised higher to 16,300 from 13,500 previously reported.

However, breakdown figures were not as positive as the headline number. All of the jobs growth last month bred by part-time employment, whose increase offset a sharp decline in full-time workers. Unemployment rate slid by 0.1% to 5.7% in January but participant rate also fell 0.1% compared with that of December.

Data on Wednesday showed U.S. consumer prices and retail sales rose more than expected. While the former added 0.6%, the latter climbed 0.4% last month. Fed Chair Janet Yellen offered no additional insight on the timing of the central bank's next rate hike in her second day of economic testimony before Congress on Wednesday. U.S. economic data scheduled to come out include housing starts, building permits and the Business Outlook Survey by Reserve Bank of Philadelphia.



Technicals

CADJPY



Fig: CADJPY H4 technical chart

Canadian dollar reversed higher following a correction from as high as 87.700. The pair was supported by the short-term MA50 at 87.083 and may continue to surge higher as a result. The bull seems to dominate the market, as indicated by RSI index which is above 50 and soaring.

Trade suggestion

Buy Stop at 87.300, Take profit at 87.900, Stop loss at 87.000



EURAUD



Fig: EURAUD H4 technical chart

EURAUD has been inching higher with support from the short-term MA20. The pair is facing a dynamic resistance which is the long-term MA50. The RSI index has moved past 50 line, suggesting a strengthening bullish momentum. In the event of continual up moves, the pair may attempt the resistance at 1.38500.

Trade suggestion

Buy Stop at 1.37900, Take profit at 1.38500, Stop loss at 1.37600



BRENT



Fig: BRENT H4 technical chart

Brent crude has been moving sideways for more than a day. However, as can be observed from the price action, buyers wanted to support to price higher but had to give up its strength. RSI remains below 50 line, suggesting an overwhelming bear in the market. A breakout to the south is expected.

Trade suggestion

Sell Stop at 55.50, Take profit at 55.00, Stop loss at 55.75



FTSE 100 Index



Fig: FTSE 100 Index H4 technical chart

U.K. FTSE 100 Index gapped down, bringing the price action below both long-term and short-term MAs, signaling a strong down move. RSI has fallen below the central line which indicates that bearish force is stronger. The support at 7255.00 is within the sight.

Trade suggestion

Sell Stop at 7275.00, Take profit at 7255.00, Stop loss at 7285.00

 

[CSFX.Support]

Cisco Trade Idea by Capital Street FX

Cisco Posts Higher-than-expected Results, Looking for Trump’s Tax Reform

Shares of Cisco Systems Inc. surged more than 2% in after-hour trading on Wednesday after the networking giant reported higher-than-expected quarterly revenue and profit for the three-month period ended January 28th.

Cisco posted fiscal second-quarter profit of $2.35 billion, or 47 cents a share, on sales of $11.58 billion. Adjusted by share-based compensation, discontinued businesses and other effects, Cisco’s earnings reached 57 cents a share, slightly better than forecasts calling for adjusted earnings of 56 cents a share on sales of $11.55 billion.

While net income experienced a decline compared with that of last year’s period which was $3.15 billion, or 62 cents per share, revenue also fell for the fifth consecutive quarter to $11.58 billion, down 2.9% from a year earlier.

However, Cisco executives stated that they were optimistic about the upcoming repatriation tax holiday when it may get benefit from U.S. President Trump’s tax reform.

Cisco expects an adjusted profit of 57 cents-59 cents per share for the current quarter, in line with analysts’ forecasts for a profit of 58 cents per share.

Trade suggestion

Buy Stop at 33.55, Take profit 34.50, Stop loss at 33.00

 

[CSFX.Support]

NZD/JPY signal by Capital Street FX

NZD/JPY signal by Capital Street FX

From GMT 13:00 16/02/2017
Till GMT 21:00 16/02/2017

Sell at 81.900
Take profit at 81.500
Stop loss at 82.100

 

[CSFX.Support]

EUR/GBP signal by Capital Street FX

From GMT 18:00 16/02/2017
Till GMT 21:00 17/02/2017

Buy at 0.85500
Take profit at 0.86000
Stop loss at 0.85250

 

[CSFX.Support]

Daily Report on February 17, 2017 by Capital Street FX

Daily Report on February 17, 2017



Global shares took a breather as investors took profit from recent surge in stock markets. While Wall Street lost momentum overnight with all benchmarks snapping their winning streak, Asian equities edged lower on Friday. The MSCI Asia Pacific Index lost 0.4 percent, giving up its highest level since July 2015. Japan’s Topix declined 0.6 percent, heading for a weekly decline.

Hong Kong’s Hang Seng index shed 0.4 percent from the highest closing level since August 2015 while Hang Seng China Enterprises Index dropped 0.8 percent. Shanghai Composite Index also lost 0.5 percent. Australia’s S&P/ASX 200 Index slipped 0.2 percent and New Zealand’s S&P/NZX 50 Index inched 0.1 percent lower after data on Friday showed New Zealand’s retail sales rose less than expected.

The Statistics New Zealand said the country’s volume of retail sales increased a seasonally adjusted 0.8 per cent in the three months ended December 31, missing analysts’ expectations for an increase of 1.1%. Amongst segments contributing to the advance, motor vehicle and parts retailing surged the most with saw sales volumes adding 1.9 percent. Core retail sales which exclude motor vehicles and fuel were reported to jump 0.6 per cent in December, falling short of forecasts for a rise of 0.9%.

Natural gas futures hovered around its three-month lows at $2.85 per million British thermal units following data from the U.S. Energy Information Administration that showed supplies of natural gas fell less than forecast. Supplies of the commodity declined by 114 billion cubic feet for the week ended February 10th, lower than the decline of 126 billion expected by analysts. Total stocks now stand at 2.445 trillion cubic feet, down 303 billion cubic feet from a year ago, but 87 billion cubic feet above the five-year average.



Technicals

NZDJPY



Fig: NZDJPY H4 Technical Chart

New Zealand dollar has been plunging versus its Japanese counterpart since Thursday. The pair fell from the resistance at 82.500 to as low as 81.300 and breached the 50.0% Fibonacci support as well as a couple of MAs on its way down. The bear momentum seems to get stronger, which may push the price lower to the support at 80.700.

Trade suggestion

Buy Digital Put Option from 81.300 to 80.700 valid until 21:00 GMT February 17, 2017



GBPJPY



Fig: GBPJPY H4 Technical Chart

GBPJPY has fallen below the 23.6% Fibonacci level for the first time in the last two weeks. The price gets back under the resistance that connects lower highs, indicating a strong bear. The pair is going to face a support at 140.000 which caused the pair to go sideways last Wednesday. In the event of continual down moves, the pair may attempt the support at 139.000.

Trade suggestion

Buy Digital Put Option from 140.000 to 139.000 valid until 21:00 GMT February 17, 2017



Sugar



Fig: Sugar H4 Technical Chart

Sugar price reversed lower following a short correction as the commodity has still been under downward pressure of two moving averages moving above the price action. The price is testing the support at 20.25 and may decline further to re-attempt the support at 19.90.

Trade suggestion

Buy Digital Put Option from 20.25 to 19.90 valid until 21:00 GMT February 17, 2017



EURO 50 Index



Fig: EURO 50 Index H4 Technical Chart

Euro 50 index has crossed over the support at 3300.00 and is plummeting towards another support at 3265.00. The market has entered the bearish territory, as indicated by the RSI index. Meanwhile, the ADX has turned higher, suggesting a strengthening bearish momentum.

Trade suggestion

Buy Digital Put Option from 3285.00 to 3265.00 valid until 21:00 GMT February 17, 2017

 

[CSFX.Support]

Daily Report on February 17, 2017 by Capital Street FX

Daily Report on February 17, 2017



Global shares took a breather as investors took profit from recent surge in stock markets. While Wall Street lost momentum overnight with all benchmarks snapping their winning streak, Asian equities edged lower on Friday. The MSCI Asia Pacific Index lost 0.4 percent, giving up its highest level since July 2015. Japan’s Topix declined 0.6 percent, heading for a weekly decline.

Hong Kong’s Hang Seng index shed 0.4 percent from the highest closing level since August 2015 while Hang Seng China Enterprises Index dropped 0.8 percent. Shanghai Composite Index also lost 0.5 percent. Australia’s S&P/ASX 200 Index slipped 0.2 percent and New Zealand’s S&P/NZX 50 Index inched 0.1 percent lower after data on Friday showed New Zealand’s retail sales rose less than expected.

The Statistics New Zealand said the country’s volume of retail sales increased a seasonally adjusted 0.8 per cent in the three months ended December 31, missing analysts’ expectations for an increase of 1.1%. Amongst segments contributing to the advance, motor vehicle and parts retailing surged the most with saw sales volumes adding 1.9 percent. Core retail sales which exclude motor vehicles and fuel were reported to jump 0.6 per cent in December, falling short of forecasts for a rise of 0.9%.

Natural gas futures hovered around its three-month lows at $2.85 per million British thermal units following data from the U.S. Energy Information Administration that showed supplies of natural gas fell less than forecast. Supplies of the commodity declined by 114 billion cubic feet for the week ended February 10th, lower than the decline of 126 billion expected by analysts. Total stocks now stand at 2.445 trillion cubic feet, down 303 billion cubic feet from a year ago, but 87 billion cubic feet above the five-year average.



Technicals

NZDJPY



Fig: NZDJPY H4 Technical Chart

New Zealand dollar has been plunging versus its Japanese counterpart since Thursday. The pair fell from the resistance at 82.500 to as low as 81.300 and breached the 50.0% Fibonacci support as well as a couple of MAs on its way down. The bear momentum seems to get stronger, which may push the price lower to the support at 80.700.

Trade suggestion

Sell Stop at 81.300, Take profit at 80.700, Stop loss at 81.600



GBPJPY



Fig: GBPJPY H4 Technical Chart

GBPJPY has fallen below the 23.6% Fibonacci level for the first time in the last two weeks. The price gets back under the resistance that connects lower highs, indicating a strong bear. The pair is going to face a support at 140.000 which caused the pair to go sideways last Wednesday. In the event of continual down moves, the pair may attempt the support at 139.000.

Trade suggestion

Sell Stop at 140.000, Take profit at 139.000, Stop loss at 140.500



Sugar



Fig: Sugar H4 Technical Chart

Sugar price reversed lower following a short correction as the commodity has still been under downward pressure of two moving averages moving above the price action. The price is testing the support at 20.25 and may decline further to re-attempt the support at 19.90.

Trade suggestion

Sell Stop at 20.25, Take profit at 19.90, Stop loss at 20.40



EURO 50 Index



Fig: EURO 50 Index H4 Technical Chart

Euro 50 index has crossed over the support at 3300.00 and is plummeting towards another support at 3265.00. The market has entered the bearish territory, as indicated by the RSI index. Meanwhile, the ADX has turned higher, suggesting a strengthening bearish momentum.

Trade suggestion

Sell Stop at 3285.00, Take profit at 3265.00, Stop loss at 3295.00

 

[CSFX.Support]

U.K. Stocks Head for the Fourth Weekly Advance, Boosted By Weak Pound

U.K. Stocks Head for the Fourth Weekly Advance, Boosted By Weak Pound

U.K. stocks gained on Friday on the back of the pound declining following discouraging data on U.K. retail sales. The benchmark FTSE 100 added nearly 0.3%, looking for another weekly advance after paring losses in the morning session.

The British Pound lost almost 0.5% after the January report on U.K. retail sales came under expectation. The report showed retail sales dropped 0.3% on a monthly basis last month while December’s reading was revised downwards to a decline of 2.1%. The headline figure has slid for three months in row, highlighting pressure from a rise in inflation.

Shares in consumer-products giant Unilever PLC topped the market, rising nearly 15% after Kraft-Heinz confirmed merger proposal with Unilever was declined.

Trade suggestion

Buy Stop at 33.55, Take profit 34.50, Stop loss at 33.00

 

[CSFX.Support]

AUD/CAD signal by Capital Street FX

From GMT 04:30 17/02/2017
Till GMT 21:00 17/02/2017

Buy at 1.00700
Take profit at 1.01000
Stop loss at 1.00600

 

[CSFX.Support]

AUD/JPY signal by Capital Street FX

AUD/JPY signal by Capital Street FX

From GMT 18:00 17/02/2017
Till GMT 21:00 17/02/2017

Sell at 86.400
Take profit at 86.000
Stop loss at 86.600

 

[CSFX.Support]

Daily Report on February 20, 2017 by Capital Street FX

Daily Report on February 20, 2017



Global stocks advanced on Monday with gains in European and Asian shares led by telecommunication and energy companies. The Stoxx Europe 600 rose around 0.1% to trade at 370.70 while Germany’s Dax 30 index jumped 0.48% to 11,813.83 and France’s CAC 40 inched slightly 0.08% lower to 47.83. Meanwhile, U.K. shares turned lower, weighed down by a sharp drop in shares of Unilever PLC and a strengthening Pound.

Unilever PLC shares lost nearly 7% after Kraft Heinz Co. on Sunday stated that it would withdraw its $143 billion bid for the consumer goods giant after having been rejected.

In Asia, Japanese equities climbed on the back of the Yen halting a three-day advance. The Topix reversed higher after retreating as much as 0.6% earlier in the day. Led by advance in shares of SoftBank Group Corp., the index rose 0.2%. Hong Kong’s Hang Seng and Hang Seng China Enterprises Index jumped 0.5 percent and 0.8 percent, respectively.

The dollar held on gains on Monday after Fed Bank of Cleveland President Loretta Mester on Monday extended the chorus of U.S. policy makers stating they will raise interest rates in upcoming meetings. U.S. bond and stock markets shut on Monday for Presidents’ Day.

Crude oil futures were pushed higher by data showed a decline in Saudi Arabian oil exports which helped counteract concerns over rising U.S. drilling activity last week. Baker Hughes late Friday said U.S. energy companies added oil rigs for a fifth consecutive week, extending the rally to a ninth straight month as producers have been encouraged by higher prices. On the other hand, data published by Joint Oil Data Initiative on Monday indicated Saudi Arabia exported 8.01 million barrels of crude per day in December, 244,000 barrels per day less than its monthly record in November.



Technicals

GBPCHF



Fig: GBPCHF H4 Technical Chart

GBPCHF pulled back from as low as 1.23786 on Friday, turning a resistance that was formed connecting lower highs into a support. The pair has breached a major level at 1.25000 but buyers seem to take a breather, as can be seen from the price action, the most recent two candles have long upper shadows. That suggests bears have jumped in to hinder the rally. RSI index has moved past the central line, likely signaling further advance.

Trade suggestion

Buy Stop at 1.25200, Take profit at 1.25700, Stop loss at 1.25000



GOLD



Fig: GOLD H4 Technical Chart

Gold turned higher after the price action hit by two moving averages that were moving below the price action. With such a support, the precious metal may attempt the resistance at 1243.00 – the level that has forced the price the give up its bull run twice in the last two weeks.

Trade suggestion

Buy Stop at 1238.00, Take profit at 1243.00, Stop loss at 1236.00



BRENT



Fig: BRENT H4 Technical Chart

Brent crude has been tracing an uptrend since the commodity rebounded from the support at 55.10. The price, which has been supported by two MAs moving below the price action, is heading towards key resistance at 56.75. RSI index is edging higher, confirming the up move.

Trade suggestion

Buy Stop at 56.25, Take profit at 56.75, Stop loss at 56.00



CAC40



Fig: CAC 40 Index H4 Technical Chart

France CAC 40 pulled back after the price action hit the short-term 20-period moving average. At the same time, RSI index reversed higher on the back of a hit with the 50.0 line. As can be observed from the price chart, recent bearish candles own long bodies, suggesting a strong downtrend. The support at 4825.00 is within the sight.

Trade suggestion

Sell Stop at 4855.00, Take profit at 4825.00, Stop loss at 4870.00

 

[CSFX.Support]

FTSE Trade Idea by Capital Street FX

Unilever PLC and Strong Pound Weigh Down U.K. Shares

U.K. stocks struggled for direction on Monday with a sharp drop in shares of Unilever PLC and a strengthening Pound weighing on the market. The FTSE 100 index showed little change, flat at around 7,300.00 level.

Unilever PLC shares lost nearly 7% after Kraft Heinz Co. on Sunday stated that it would withdraw its $143 billion bid for the consumer goods giant after having been rejected.

Besides, the British Pound added more than 0.4% against the U.S. dollar to trade at $1.2473, up from $1.2421 late Friday. A strong Sterling tends to hurt the index’s heavy weighting toward exporters that benefit from a weaker currency.

Leading the list of gainers, shares in Royal Bank of Scotland PLC jumped nearly 6% following news that the banking and insurance holding company might not banking and insurance holding company.

Trade suggestion

Sell Stop at 7290.00, Take profit 7270.00, Stop loss at 7300.00

 

[CSFX.Support]

EUR/JPY signal by Capital Street FX

EUR/JPY signal by Capital Street FX

From GMT 06:00 20/02/2017
Till GMT 21:00 20/02/2017

Buy at 120.100
Take profit at 120.600
Stop loss at 119.900

 

[CSFX.Support]

Daily Report on February 21, 2017 by Capital Street FX

Daily Report on February 21, 2017



Asian stocks held near a 19-month peak with MSCI's broadest index of Asia-Pacific shares outside Japan flat on Tuesday following the Presidents’ holiday in the U.S. The yen lost more than 0.3 percent to trade at 113.50 per dollar, extending its 0.2 percent decline on Monday. A weak yen boosted the Topix index to add another 0.3 percent after closing higher in the first session of the week. South Korea’s Kospi index and Hong Kong’s Hang Seng also climbed, but Shanghai Composite Index was little changed.

Australian shares lagged behind as investors were waiting for earnings report from BHP Billiton, the world's biggest miner by market value, later in the day. The company has been facing with a strike at its Chilean copper mine Escondida. Australia’s S&P/ASX 200 Index declined 0.1 percent. In the minutes of the latest policy meeting, Reserve Bank of Australia forecast improving economic conditions given potentially rising resource exports while the drag from falling mining investment waning.

The euro was on a slide on Tuesday, dragged down by a poll showed Right-wing candidate Marine Le Pen narrowing the gap with more centrist opponents. The first round of the French Presidential election is scheduled on April 23 and the run-off between the top two contenders is set on May 7.

However, supporting the euro, latest news showed that Greece and its international lenders agreed to let experts work out new reforms to Greek pensions, income tax and the labour market that would allow the country to eventually qualify for more cheap loans. Greece needs a new tranche of financial aid under its 86 billion euro bailout by the third quarter of the year to meet debt repayments.



Technicals

EURUSD



Fig: EURUSD H4 Technical Chart

Euro broke out of a consolidation which caused the pair to move sideways under the 1.06200 resistance. Two moving averages are exerting downward pressure onto the price, which may push the pair lower to retest the one-month low at 1.05300. Further declines have been confirmed by RSI heading downwards while ADX soaring with a divergence between –DI and +DI lines.

Trade suggestion

Sell Stop at 1.05800, Take profit at 1.05300, Stop loss at 1.06000



USDJPY



Fig: USDJPY H4 Technical Chart

USDJPY has breached the resistance at 113.500 after having crossed over a pair of moving averages, confirming the up move. Both RSI and ADX indices are surging, indicating a strong uptrend. The pair likely attempts the resistance at 114.100 – the 61.8% Fibonacci handle.

Trade suggestion

Buy Stop at 113.700, Take profit at 114.100, Stop loss at 113.500



USDCAD



Fig: USDCAD H4 Technical Chart

USDCAD has broken out of a downtrend marked by a resistance that connects lower highs. The up moves have been supported by two MAs moving below the price action. RSI has surged to as high as 65.25 – the highest level since February 08th, signaling a strong rally. The resistance at 1.32000 key level is within the sight.

Trade suggestion

Buy Stop at 1.31500, Take profit at 1.32000, Stop loss at 1.31250



GOLD



Fig: GOLD H4 Technical Chart

Gold one more time pulled back from the resistance at 1243.00 – the level which has restrained the metal’s bull run three times in the last two weeks. The price is struggling with the long-term MA50 and looks set to fall deeper as the market has entered the bearish territory.

Trade suggestion

Sell Stop at 1232.00, Take profit at 1222.00, Stop loss at 1237.00

 

[CSFX.Support]

Wal-Mart Trade Idea by Capital Street FX

Wal-Mart Reports Advancing Revenue and Same-store Sales, Rising Devidend

Shares of Wal-Mart Stores Inc. rose in premarket trade on Tuesday following the company’s Q4 earnings report that showed advancing revenue and same-store sales.

The retailing corporation witnessed profit reached $3.8 billion, or $1.22 per share in the three-month period to January, down from $4.6 billion, or $1.43 per share during the same quarter a year ago. Adjusted for one-time items, earnings were $1.30, above analysts’ $1.28 earnings consensus.

Meanwhile, revenue was reported to hit $130.9 billion in the quarter, up 1% compared with hit $130.9 billion in the quarter. Domestic same-store sales rose 1.8%.

Wal-Mart on Tuesday announced a 2% dividend increase to $2.04 a share annually, stating that it forecast earnings per share for the fiscal year 2018 to be in the range of $4.20 to $4.40.

Trade suggestion

Buy Stop at 71.50, Take profit 72.50, Stop loss at 71.00

 

[CSFX.Support]

EUR/GBP signal by Capital Street FX

From GMT 03:00 21/02/2017
Till GMT 21:00 21/02/2017

Sell at 0.84950
Take profit at 0.84550
Stop loss at 0.85150

 

[CSFX.Support]

Daily Report on February 22, 2017 by Capital Street FX

Daily Report on February 22, 2017



Asian equities soared on Wednesday with investors’ bullish sentiment pushed higher by upbeat factory activity in Europe and solid earnings on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5% with gains led by Hong Kong’s Hang Seng Index which surged nearly 0.9%. While South Korea's Kospi advanced 0.17%, Shanghai climbed 0.2%. Japan's Nikkei225 eased 0.1% as the yen gained modestly against the dollar.

The dollar gained versus most of its peers on Wednesday, supported by hawkish remarks from Cleveland and Philadelphia Fed Presidents Loretta Mester and Patrick Harker late Tuesday. Both expressed comfort at raising rates at this point and signaled that expressed comfort at raising rates at this point.

The FOMC minutes for the Fed's Jan. 31-Feb. 1 policy meeting are due to be published later in the day. Investors will be looking to the minutes for fresh hints on the central bank's stance toward interest rates.

Crude oil futures prices were little changed after having surged strongly on Tuesday. The advance came after OPEC’s Secretary-General, Mohammad Sanusi Barkindo affirmed OPEC’s Secretary-General, Mohammad Sanusi Barkindo.

During an International Petroleum Week conference in London on Tuesday, Barkindo emphasized the effectiveness of the Organization of the Petroleum Exporting Countries’ and non-OPEC countries’ agreement to cut output by 1.8 million barrels daily – which accounts for 2% global supply.

The OPEC’s Secretary-General was also optimistic about concerns over rising U.S. production, saying that U.S. shale output isn’t likely to jeopardize efforts to limit oil.



Technicals

EURJPY



Fig: EURJPY H4 Technical Chart

EURJPY has breached the support at 119.300 – the lowest level in two months. The pair has been tracing a strong downtrend after it broke below the 23.6% Fibonacci level. While RSI has reached the oversold zone, the ADX index is soaring with a widening gap between the –DI and +DI lines. The next support is 38.2% handle.

Trade suggestion

Sell Stop at 119.100, Take profit at 118.500, Stop loss at 119.400



EURUSD


Fig: EURUSD H4 Technical Chart

EURUSD has fallen below the support at 1.05300 after a consolidation above this level. Although the RSI has reached the oversold zone which signals short-live downtrend, ADX is soaring strongly with the divergence between the –DI and +DI line. In the event of continual downtrend, the pair may fall as low as 1.04600.

Trade suggestion

Sell Stop at 1.05000, Take profit at 1.04600, Stop loss at 1.05200



Sugar



Fig: Sugar H4 Technical Chart

Sugar price has soared above the 23.6% Fibonacci resistance at 20.79 after the price action crossed over both the long-term and short-term MAs. The commodity is attempting to retest the resistance at 21.15 with the confirmation from RSI index which remains above 50.

Trade suggestion

Buy Stop at 20.90, Take profit at 21.15, Stop loss at 20.75



CAC40



Fig: CAC 40 Index H4 Technical Chart

CAC 40 index pulled back from the short-term 20-period moving average and is heading higher to attempt the highest level in more than one year at 4935.00 logged last Wednesday. RSI index has reached 61.03 and is surging to the overbought zone, suggesting a strong up trend.

Trade suggestion

Buy Stop a 4910.00, Take profit at 4935.00, Stop loss at 4900.00

 

[CSFX.Support]

TJX Trade Idea by Capital Street FX

TJX Shares Advance With Earnings and Sales Beating Expectations

Shares of TJX Companies, Inc. surged higher after the company reported earnings and sales beat expectations last quarter.

The apparel and home goods company posted fourth-quarter net income of $677.9 million, or $1.03 per share which was up from $666.5 million, or 99 cents per share recorded one year ago. TJX reported sales reached $9.47 billion, above $8.96 billion last year and ahead of the $9.44 billion that analysts had forecast.

The Framingham-based company said same-store sales increased 3%, which topped economists’ expectation for a rise of 2.6%. TJX not only plans to increase the quarterly dividend by 20% to 31.25 cents per share for common stock declared in April 2017, payable in June 2017, but also announced a stock repurchase program of about $1.3 billion to $1.8 billion during the fiscal year ending Feb. 3, 2018.

Trade suggestion

Buy Stop at 76.30, Take profit 78.00, Stop loss at 75.50

 

[CSFX.Support]

GBP/CHF signal by Capital Street FX

From GMT 05:00 22/02/2017
Till GMT 21:00 22/02/2017

Buy at 1.26100
Take profit at 1.26500
Stop loss at 1.25900