Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

EUR/JPY signal by Capital Street FX

From GMT 04:50 10/03/2017
Till GMT 21:00 10/03/2017

Buy at 122.100
Take profit at 122.700
Stop loss at 121.800

 

[CSFX.Support]

Daily Report on March 13, 2017 by Capital Street FX

Daily Report on March 13, 2017



Global shares edged higher on the first day of an eventful week, supported by a positive U.S. jobs report published last Friday. The MSCI Asia Pacific Index surged 0.7 percent with gains led by a rise of 1.9 percent in the Hang Seng China Enterprises Index. Japan’s Topix rose 0.2 percent while the Stoxx Europe 600 added less than 0.1 percent, extending the rally to a fourth straight session.

The pair EURUSD surged more than 0.1% to break though the $1.07000 threshold. The pair traded at the highest level since Feb. 9 at $1.07053 in the second half of Asian trading. Some members of the ECB's Governing Council on Thursday discussed the possibility of higher interest rates before the end of its quantitative easing program. Although the talk on the issue was brief and did not receive broad support, the single currency has been received great support.

On the other hand, markets were waiting for the U.S. central bank’s meeting due later this week with high expectation of a rate increase. According to CME Group's Fed Watch tool, Fed fund futures prices showed investors pricing in more than a 90 percent chance of an increase in U.S. overnight interest rates. Besides the Fed, investors will also be looking for rate decisions from other central bank namely Bank of Japan and Bank of England.

As reported by the Japanese Cabinet Office, the country’s core machinery orders unexpectedly fell in January following a rebound in December, when core orders rose 2.1 percent. Core machinery orders fell 3.2 percent in January, dipping the most in five months and missing the economists' median estimate of a 0.5 percent increase.



Technicals

AUDNZD


AUDNZD has been inching higher since it broke out of a consolidation around the 61.8% Fibonacci retracement. The price action has also crossed over the short-term MA20, confirming the comeback of the uptrend. Both RSI and ADX indices are heading upwards, which signals further up moves.

Trade suggestion

Buy Stop at 1.09200, Take profit at 1.09700, Stop loss at 1.09000



EURCHF


EURCHF pulled back after a correction which brought the pair to as low as 1.07450. The pair remained in the bullish zone, as indicated by the RSI index that has reversed higher and is heading upwards. With two MAs moving below the price action, the pair may attempt a resistance at 1.08000.

Trade suggestion

Buy Stop at 1.07600, Take profit at 1.08000, Stop loss at 1.07400



Copper


Copper extended its rally which began after the commodity prices reversed higher at a support at 2.5600. The price saw a correction following a penetration with the short-term MA20. However, the bullish momentum managed to cross over the dynamic resistance and may support to price to retest a major resistance at 38.2% Fibonacci retracement.

Trade suggestion

Buy Stop at 2.6300, Take profit at 2.6600, Stop loss at 2.6100



DAX 30



DAX 30 index has been moving sideways in a narrow trading range between a support at 11930.00 and 12060.00. The index has rebounded from the lower boundary and is pointing upwards in an attempt to test the upper boundary after its price action has crossed over two moving averages.

Trade suggestion

Buy Stop at 11985.00, Take profit at 12060.00, Stop loss at 11950.00

 

[CSFX.Support]

FTSE 100 Trade Idea by Capital Street FX

Pushed Higher by Miners, U.K. Shares Advance, Strong Pound Caps Gains

U.K. shares surged higher on Monday, supported by stocks of mining companies. However, a strong Pound weakened the bullish momentum.

The stock benchmark FTSE 100 index rose nearly 0.3%, extending its up moves for a second straight session thanks to a rise in metals prices which pushed miners’ equities higher.

Topping the market, Fresnillo soared more than 5.7%.Other miners were also among top advancers. Particularly, shares of Anglo American added 4.8%, while those of Antofagasta PLC jumped 3.48%. Rio Tinto PLC and Glencore PLC witnessed their stocks climbed 3.76% and 2.06%, respectively.

On the other hand, the Sterling advanced almost 0.5% versus the dollar ahead of the trigger of Brexit negotiations which may come later this month.

Trade suggestion

Buy Stop at 7365.00, Take profit 7385.00, Stop loss at 7355.00

 

[CSFX.Support]

Trade signals by Capital Street FX

EUR/CAD signal by Capital Street FX

From GMT 05:50 13/03/2017
Till GMT 21:00 13/03/2017

Buy at 1.44000
Take profit at 1.44400
Stop loss at 1.43800


AUD/JPY signal by Capital Street FX

From GMT 18:00 13/03/2017
Till GMT 21:00 14/03/2017

Buy at 87.000
Take profit at 87.400
Stop loss at 86.800

 

[CSFX.Support]

Daily Report on March 14, 2017 by Capital Street FX

Daily Report on March 14, 2017



Asian shares inched higher on Tuesday with gains in Chinese equities countering losses in Japan’s stocks. The MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 percent, led by Chinese shares traded in Hong Kong that climbed 0.6 percent after data showed China’s economy started the year on a firm footing. Japan's Nikkei .N225 inched down 0.1 percent, slipping for the first time in four days as the yen fluctuated.

China's factory output and fixed-asset investment grew more strongly than expected in the first two months of the year. Particularly, the country’s industrial output rose 6.3 percent in January-February from the same period a year earlier, beating forecast for a rise of 6.2 percent. Fixed-asset investment expanded 8.9 percent while analysts had expected a growth of 8.2 percent.

In contrast to both industrial output and fixed-asset investment that topped projections, retail sales disappointed after the government reduced a tax break on small cars. Combined retail sales of China for January and February rose only 9.5 percent from a year earlier, missing expectations of 10.5 percent after having soared by 10.9 percent in December.

Sterling weakened versus most of its rivals on Tuesday following Britain's parliament’s decision to pass legislation allowing the government to invoke Article 50 of the Lisbon Treaty. Parliament on Monday paved the way for Prime Minister Theresa May to launch divorce talks with the European Union with the House of Commons overturning amendments from the unelected House of Lords that sought to restrict May’s room for maneuver. According to market sources, May is preparing to trigger Brexit in the last week of March.



Technicals

GBPJPY



GBPJPY is tracing a double-top pattern after having reversed lower at the high of 140.470. The pair is testing the neck level and has hit the long-term MA50 and may fell further as the market has entered the bearish zone. A support at 139.000 is within the sight.

Trade suggestion

Sell Stop at 139.700, Take profit at 139.000, Stop loss at 138.000



USDJPY


USDJPY has been tracing an uptrend along the short-term MA20 after having reversed higher from the low at 114.460. Both the RSI and ADX indices are soaring higher, suggesting a strong uptrend. The resistance at 115.500 is expected to be tested.

Trade suggestion

Buy Stop at 115.000, Take profit at 115.500, Stop loss at 114.800



GOLD


Gold continued to edge lower, depressed by a short-term MA20 that is moving above the price action. The bear jumped back into the market after the bull failed to bring the price go beyond the 50.0% Fibonacci retracement. RSI index has been moving downwards, indicating a strong bearish momentum.

Trade suggestion

Sell Stop at 1202.00, Take profit at 1195.00, Stop loss at 1205.00



Natural Gas


As can be seen from the chart, the price action has pulled back after having hit the short-term MA20. With the support of the moving average, the commodity is expected to test the resistance at 61.8% Fibonacci retracement. RSI is heading upwards and moving in the bullish zone, signaling further up moves.

Trade suggestion

Buy Stop at 3.030, Take profit at 3.065, Stop loss at 3.015

 

[CSFX.Support]

Crude Trade Idea by Capital Street FX

Crude Oil Extends Downward Rally As OPEC Revises Up Forecasts for International Output

Crude prices hit the lowest level since November 30, 2016 after a monthly report from the Organization of the Petroleum Exporting Countries pointed to an increase in crude inventories of developed countries.

Brent crude fell to as low as $50.40 per barrel – the level not seen in three-and-a-half month as OPEC said in its monthly report that oil inventories in developed countries had risen above the five-year average to stand 278 million barrels in January regardless of efforts by major producers to curb crude output.

The report also revised up its forecast for production outside OPEC by 400,000 bpd, 160,000 more than previously expected. The comeback of U.S. shale drilling is also anticipated to push U.S. output higher by 100,000 bpd in 2017.

Trade suggestion

Sell Stop at 50.40, Take profit 49.70, Stop loss at 50.70

 

[CSFX.Support]

FTSE 100 Trade Idea by Capital Street FX

Pound Hits Two-month Lows, U.K. Shares Gap Up

U.K. shares gapped up on Tuesday, spurred by a weakening British Pound after Britain’s parliament’s decision to pass legislation allowing the government to invoke Article 50 of the Lisbon Treaty.

The FTSE 100 index rose more than 0.1 percent, finding supports from oil and gas, health care and consumer-goods shares but banking stocks were trading lower, which caused the gain for the benchmark to be limited.

The Pound dropped more than 0.75 percent, dropping to as low as $1.21081 after the Parliament on Monday paved the way for Prime Minister Theresa May to launch divorce talks with the European Union. According to market sources, May is preparing to trigger Brexit in the last week of March. A weaker pound tends to boost U.K. shares as it raises the prospect for higher earnings and revenue made overseas by multinational companies listed in London.

Topping the market, shares of Prudential PLC added nearly 4 percent after the U.K.’s largest insurer announced to raise its ordinary dividend after earnings rose 7 percent.

Trade suggestion

Buy Stop at 7375.00, Take profit 7390.00, Stop loss at 7360.00

 

[CSFX.Support]

CAD/JPY signal by Capital Street FX

From GMT 04:00 14/03/2017
Till GMT 21:00 14/03/2017

Buy at 85.400
Take profit at 85.800
Stop loss at 85.200

 

[CSFX.Support]

Daily Report on March 15, 2017 by Capital Street FX

Daily Report on March 15, 2017



European shares gained on Wednesday while Asian stocks consolidated. Boosted by shares of raw-material producers which rallied 2.2 percent as a group, the Stoxx Europe 600 Index jumped 0.4 percent. In Asian trading hours, Australia’s S&P/ASX 200 Index climbed 0.3 percent, reversing higher after earlier drop of as much as 0.6 percent.

Hong Kong’s Hang Seng and Hang Seng China Enterprises Index pared losses after Chinese Premier Li Keqiang said at his annual news conference at the end of the annual meeting of China's parliament that China supports globalization and free trade and will quicken the pace of opening its economy. Li also said that Beijing does not want to see a trade war with the United States and is seeking talks between both sides to achieve common ground.

The Premier also guaranteed normal use of foreign exchange for firms and individuals despite the decline in the country’s foreign exchange reserves. Li said China's foreign exchange reserves are still sufficient to cover imports and foreign debt payments.

Crude oil pulled back from a fall on Tuesday after the industry-funded American Petroleum Institute reported that U.S. inventories may have dropped by 531,000 barrels last week. Tuesday’s steep declines came after an OPEC report showed Saudi Arabia’s production climbed back above 10 million barrels a day in February.

The dollar weakened versus most of its rivals on Wednesday ahead of the Federal Reserve’s rate decision which will be announced after the central bank’s two-day meeting. Markets are widely expecting a quarter-point hike later on the day and are also looking to Chair Janet Yellen’s news conference a half hour later for any hints of a change in the number of increases the central bank foresees this year.



Technicals

AUDCAD


AUDCAD has been struggling around the resistance at 1.02000 for a half month. The pair retreated yesterday after a failed attempt to move past the major handle but reversed higher again with supports from two MAs hanging below the price action. RSI is soaring, confirming the up trend.

Trade suggestion

Buy Stop at 1.02100, Take profit at 1.02500, Stop loss at 1.01900



GBPUSD


GBPUSD retreated under pressure from two MAs moving above the price action and from a resistance at 1.22500 which has forced the pair to reverse lower twice this week. The market returned to the bearish zone with RSI falling back below 50. In the event of continual downtrend, the pair is anticipated to retest the low at 1.21000.

Trade suggestion

Buy Stop at 1.21700, Take profit at 1.21000, Stop loss at 1.22000



COPPER


Copper has finally broken through a major resistance at 23.8% Fibonacci retracement after a retreat yesterday stemming from the fact that the price action hit the Fib. handle. The price action is moving above a couple of MAs and is expected to edge higher to test another resistance at 2.7000.

Trade suggestion

Buy Stop at 2.6600, Take profit at 2.7000, Stop loss at 2.6450



GOLD


Gold is tracing the short-term MA20 to trade lower. The precious metal has been moving sideways to lower since it retreated from the 50.0% Fibonacci level and with a market that has been in the bearish territory, as indicated by the RSI index, gold is expected to test a support at 1195.00.

Trade suggestion

Sell Stop at 1121.00, Take profit at 1195.00, Stop loss at 1124.00

 

[CSFX.Support]

Crude Trade Idea by Capital Street FX

Crude Oil Ignores First U.S. Supply Draw in 10 Weeks, Trading in Narrow Range

Crude oil were flat in early trading hours on Wednesday, received not much support from a surprise drawdown in U.S. inventories.

April West Texas Intermediate crude were trading around $48.60 per barrel at 3:00 pm GMT on the New York Mercantile Exchange after the U.S. Energy Information Administration reported domestic crude-oil supplies dropped for the first time in 10 weeks.

Crude supplies were announced to fall by 200,000 barrels for the week ended March 10. This was in a stark contrast to expectations of economists who forecast an increase of 3.3 million barrels.

Also supporting the price, the monthly report published by the International Energy Agency (IEA) on Wednesday suggested OPEC cuts should create a crude deficit in the first half of 2017. The EIA stated that if the group maintains its output curb to June, the market could show an implied deficit of 500,000 bpd.

Trade suggestion

Buy Stop at 48.80, Take profit 49.60, Stop loss at 48.50

 

[CSFX.Support]

Natural Gas signal by Capital Street FX

From GMT 04:00 15/03/2017
Till GMT 21:00 15/03/2017

Sell at 2.920
Take profit at 2.860
Stop loss at 2.950

 

[CSFX.Support]

Daily Report on March 16, 2017 by Capital Street FX

Daily Report on March 16, 2017



Tracing higher closes on Wall Street overnight, Asian shares rose strongly on Thursday with the MSCI Asia Pacific Index jumping 1.1 percent to the highest level since June 2015. Hong Kong’s Hang Seng gained 1.2 percent and the Hang Seng China Enterprises Index climbed 1.6 percent while South Korea’s Kospi added 0.7 percent. Australia’s S&P/ASX 200 Index and New Zealand’s S&P/NZX 50 Index increased 0.2 percent and 0.6 percent, respectively.

Gold surged considerably to more than one-week highs on Thursday on the back of the dollar having plunged steeply after Fed raised rate but signaled no pick-up in the pace of tightening. Gold futures prices for April delivery jumped around 2% to trade at $1225.00 an ounce as the greenback lost ground versus most of its peers even after the Federal Reserve hiked interest rates by 25 basis points to a range of 0.75 percent to 1.00 percent.

This was the second rate hike in three months, a move supported by steady economic growth, strong job gains and prospect that inflation is heading towards the central bank’s target goal. However, Fed did not signal any plan to accelerate the pace of monetary tightening with Fed Chair Janet Yellen emphasizing that future rate increases would be "gradual."

Crude oil prices extended its rally in early Asian trading on Thursday after official data showed U.S. inventories had eased from record highs. Weekly data published by the U.S. Energy Information Administration (EIA) showed U.S. crude stocks fell for first time after nine straight increases last week. Crude stockpiles fell 237,000 barrels in the week to March 10, in a marked contrast to analysts’ forecast for an increase of 3.7 million barrels.

Australian unemployment was reported to unexpectedly climb in February as the economy shed jobs. The Australian Bureau of Statistics on Thursday posted jobless rate of 5.9% last month which rose to a 14-month high as the total number of people with jobs fell by 6,400 in February. Economists had expected the labor market to add 15,000 jobs in order to maintain the unemployment rate at 5.7%.



Technicals

EURNZD


EURNZD rebounded from the long-term MA50 and is challenging the short-term MA20. Recent up moves have brought the market back to the bullish zone. ADX index is inching lower, suggesting a weakening former downtrend. Continual uptrend may send the price back to the highest level since Monday at 1.54500.

Trade suggestion

Buy Stop at 1.53500, take profit at 1.54500, stop loss at 1.53000



GBPJPY


GBPJPY dropped back to a major support at 139.000 which it has tested for several times in more than one week. The pair has been under downward pressure from two MAs hanging above the price action. The market fell into the bearish market and the price may fall to as low as 138.500.

Trade suggestion

Sell Stop at 139.000, take profit at 138.500, stop loss at 139.250



BRENT


Brent crude pulled back from a fixed support at 51.60 where it also faced a dynamic support that is the short-term MA20. The commodity market has entered the bullish territory with RSI index moving past the 50 line. ADX is also on a rise, suggesting strengthening current uptrend.

Trade suggestion

Buy Stop at 52.15, take profit at 53.00, stop loss at 51.80



EURO 50


Having been supported by two moving averages which are tracing higher below the price action, the stock benchmark is heading to retest a fifteen-month high at 3441.00, logged last Friday. However, with strong bullish momentum as indicated by rising RSI and ADX indices, the Euro 50 is expected to surge higher than that.

Trade suggestion

Buy Stop at 3430.00, take profit at 3480.00, stop loss at 3410.00

 

[CSFX.Support]

USDCAD trade idea by Capital Street FX

USDCAD Tumbles to Two-week Lows as Oil Edges Higher While Dollar Hit By Fed

Canadian dollar soared to the highest level in more than two weeks versus its American counterpart on Thursday, supported by a rising crude price while the dollar lost ground after Fed raised rate but signaled no pick-up in the pace of tightening.

The pair USDCAD dropped to as low as 1.32800 as the dollar weakened broadly against most of its peers even after the Federal Reserve hiked interest rates by 25 basis points to a range of 0.75 percent to 1.00 percent. This was the second rate hike in three months, a move supported by steady economic growth, strong job gains and prospect that inflation is heading towards the central bank’s target goal.

However, Fed did not signal any plan to accelerate the pace of monetary tightening with Fed Chair Janet Yellen emphasizing that future rate increases would be “gradual.”

Meanwhile, crude oil futures prices extended its rally in early European trading hours on Thursday after official data on Wednesday showed U.S. inventories had eased from record highs. Weekly data published by the U.S. Energy Information Administration (EIA) showed U.S. crude stocks fell 237,000 barrels in the week to March 10, which was in a marked contrast to analysts’ forecast for an increase of 3.7 million barrels.

Trade suggestion

Sell Stop at 1.32800, Take profit 1.32200, Stop loss at 1.33100

 

[CSFX.Support]

EURUSD Trade Idea by Capital Street FX

Euro Hits Multi-week Highs as Dollar Softens after Fed Signals Gradual Rate Hikes

The euro took off to five-week highs versus the dollar on Thursday as political uncertainties in Europe was reduced after Netherlands’ Prime Minister Mark Rutte’s party took lead in Wednesday election. Meanwhile, the greenback plunged steeply after Fed raised rate but signaled no pick-up in the pace of tightening.

The euro got a boost as investors were relieved after fears that public opinion was swinging inexorably toward a break-up of the union. Votes counted so far showed the anti-EU party of Geert Wilders won fewer seats than expected in Dutch elections.

On the other hand, dollar lost ground versus most of its peers even after the Federal Reserve hiked interest rates by 25 basis points to a range of 0.75 percent to 1.00 percent. This was the second rate hike in three months, a move supported by steady economic growth, strong job gains and prospect that inflation is heading towards the central bank’s target goal.

However, Fed did not signal any plan to accelerate the pace of monetary tightening with Fed Chair Janet Yellen emphasizing that future rate increases would be “gradual.”

Trade suggestion

Buy Stop at 1.07300, Take profit 1.07700, Stop loss at 1.07100

 

[CSFX.Support]

EUR/GBP signal by Capital Street FX

From GMT 12:20 13/03/2017
Till GMT 21:00 13/03/2017

Sell at 0.86800
Take profit at 0.86300
Stop loss at 0.87000

 

[CSFX.Support]

Daily Report on March 17, 2017 by Capital Street FX

Daily Report on March 17, 2017



Asian shares found themselves on an advance on Friday, looking set for their best weekly rally since mid- July. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent, on course to finish the week 3.5 percent higher, the biggest gain since the week ended July 15. While Chinese equities were also steady, set for a 1.6 percent increase for the week and Hong Kong's Hang Seng index stayed on track to log its biggest increase since September with a rise of 3.4 percent, Japan's Nikkei lost 0.3 percent, and is poised for a 0.4 percent loss for the week.

The greenback continued to remain week after the Federal Reserve raised interest rates by 25 basis points on Wednesday but kept to its original forecast of three rate hikes this year. The dollar index, which tracks the greenback against a basket of six trade-weighted peers, retreated 0.1 percent to 100.26. The index hit a five-week low on Thursday, and is looking for a decrease of almost 1 percent for the week as investors who were expecting for a more aggressive rate-hike path were disappointed.

The Bank of England on Thursday held its benchmark interest rate steady at 0.25% following officials' March policy meeting. However the meeting signaled an increase may not be far off as one of the nine members voting to raise rates for the first time in eight months. The bank cited uncertainty surrounding Britain's prospects as it prepares for exit talks with the European Union as a reason for keeping rates intact.

Crude oil prices were little changed in Asian trading hours on Friday and may close the week a little bit higher after having slumped steeply last week. Markets were still looking for clues on how effectively OPEC production cuts are working to encounter rising output from U.S. shale oil production.



Technicals

NZDUSD


NZDUSD rebounded from a key support at 38.2% Fibonacci retracement. The short-term MA20 has crossed over the long-term MA50 from below, suggesting a reversal into an uptrend. RSI index is soaring higher, which signals further advances to come. A resistance at 0.70400 is expected to be tested.

Trade suggestion

Buy Stop at 0.70000, Take profit at 0.70400, Stop loss at 0.69800



GBPCHF


GBPCHF has turned a dynamic resistance that is the long-term MA50 into a new support. RSI has bounced back from the 50 line, suggesting a new uptrend following a short correction. The pair is anticipated to attempt a resistance at 1.23600 – the level at which the price had to reversed lower twice in the last one week.

Trade suggestion

Buy Stop at 1.23200, Take profit at 1.23600, Stop loss at 1.23000



COPPER


Copper has broken out of a trading range supported by a couple of moving averages. The pair broke below the long-term MA50 and is heading downwards to the 23.6% Fibonacci retracement. A key support coupled with the fact that the market looked set to enter the oversold zone caused the down move to be short-lived.

Trade suggestion

Sell Stop at 2.6600, Take profit at 2.6500, Stop loss at 2.6650



Natural Gas


Natural gas continued to edge lower under the pressure from two moving averages hanging above the price action. The downtrend seems to be strengthening as RSI is pointing to the oversold zone. The support at 2.830 is within the sight.

Trade suggestion

Sell Stop at 2.890, Take profit at 2.830, Stop loss at 2.920

 

[CSFX.Support]

Tiffany & Co. trade idea by Capital Street FX

Tiffany & Co Records Upbeat Fourth-quarter Profit, Shares Jump

Shares of Tiffany & Co soared 1.58 percent in premarket trade on Friday, following the company’s quarterly earnings report that showed fiscal fourth-quarter profit expectations and provided an upbeat outlook.

The high-end jewelry retailer posted net earnings of $157.8 million, or $1.26 a share for the quarter to January 31st, which was lower than $163.2 million, or $1.28 a share recorded a year ago. Adjusted for one-time items, earnings per share reached $1.45, above analysts’ forecast of $1.39.

Revenue was reported to add 1% to $1.23 billion, roughly in line with economists’ consensus of $1.22 billion. Same-store sales were unchanged from a year ago, contrasting with expectations for a 1.4% decline, as a greater-than-expected increase in Japan helped offset a bigger-than-expected decline in Europe.

For fiscal year 2017, Tiffany anticipates adjusted EPS to increase to $3.75, slightly below markets’ forecast calling for a rise to $3.85.

Trade suggestion

Buy Stop at 91.00, Take profit 93.00, Stop loss at 90.00

 

[CSFX.Support]

GBP/JPY signal by Capital Street FX

From GMT 05:00 17/03/2017
Till GMT 21:00 17/03/2017

Buy at 140.200
Take profit at 140.500
Stop loss at 140.000

 

[CSFX.Support]

Daily Report on March 20, 2017 by Capital Street FX

Daily Report on March 20, 2017



Asian shares were mixed on Monday with Japan’s stock market closed Monday for a holiday. Tracing declines on Wall Street last Friday and the outcome of the G20 meeting that showed world leaders failed to commit to avoid trade protectionism, equities in Australia, South Korea, Singapore and New Zealand retreated.

However, MSCI's broadest index of Asia-Pacific shares outside Japan still gained 0.3% thanks to stocks’ advances in Hong Kong, Malaysia and Thailand. Particularly, Australia’s S&P/ASX 200 Index lost 0.4 percent and South Korea’s Kospi index fell 0.5 percent. New Zealand’s S&P/NZX 50 Index also dropped 1.4 percent. By contrast, the Hang Seng Index climbed 0.5 percent.

The U.S. dollar continued to lose ground due to the Federal Reserve's less hawkish-than-expected comments last Wednesday. The dollar index, which measures the strength of the greenback versus a basket of six major currencies, retested a five-week trough logged last week at 100.40 after shedding 0.16 percent.

Crude oil futures prices were also on a decline on Monday, knocked down by a report that showed a rise in U.S. drilling activity. Energy services firm Baker Hughes Inc. on Friday said U.S. drillers added 14 oil rigs in the week to March 17, bringing the total count up to 631, the most since September 2015.



Technicals

GBPUSD


GBPUSD has broken through a major resistance at 1.24000 to penetrate a trading range from 1.24000 to 1.25000. The pair is much likely to attempt the upper boundary with a strong bullish momentum that is reflected through a RSI index that has entered the oversold territory and a wide gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 1.24300, Take profit at 1.25000, Stop loss at 1.24000



EURUSD


EURUSD continued to surge higher after a brief correction on Friday. The pair is heading upwards to a resistance at key level 1.08000 with both RSI and ADX indices indicating strong bullish force in the market.

Trade suggestion

Buy Stop at 1.07700, Take profit at 1.08000, Stop loss at 1.07500



GOLD



Gold is retesting a firm resistance at 1235.00 – the level at which the precious metal has failed to move past since March 02nd. Besides support from two moving averages that are lingering below the price action, gold’s bullish run has been spurred by rising RSI and ADX indices. However, a RSI that has entered the overbought zone also signaled a short-live advance.

Trade suggestion

Buy Stop at 1235.00, Take profit at 1242.00, Stop loss at 1232.00



EURCHF


EURCHF is attempting the upper boundary of a trading range that has a support at 1.06850 and a resistance at 1.07450. The pair is expected to break out of this range to retest a key handle at 1.08000. RSI has crossed over the central line, suggesting further advance.

Trade suggestion

Buy Stop at 1.07500, Take profit at 1.08000, Stop loss at 1.07250

 

[CSFX.Support]

AUD/CAD signal by Capital Street FX

From GMT 06:30 20/03/2017
Till GMT 21:00 20/03/2017

Buy at 1.03000
Take profit at 1.03400
Stop loss at 1.29800


USD/CAD signal by Capital Street FX

From GMT 13:00 20/03/2017
Till GMT 21:00 20/03/2017

Buy at 1.33600
Take profit at 1.34000
Stop loss at 1.33400