Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

Daily Report on March 29, 2017 by Capital Street FX

Daily Report on March 29, 2017



Asian shares built on gains for a second day as a rise in U.S. consumer confidence helped boosted U.S. equities higher. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, led by a rise of 0.8 percent in Australia's main index. Japan's Nikkei continued to inch higher, marching 0.1 percent after having climbed over 1 percent the previous day.

The Pound stumbled versus most of its peers on Wednesday as the British government looked set to send a letter to Brussels formally starting the country's exit from the European Union today. The letter which will trigger two years of uncertain negotiations between the U.K. and the European Union, was reported to be signed by British Prime Minister Theresa May.

Japanese government’s data showed the country’s retail sales rose less than economists forecast in February. Retail sales were said to increase 0.1 percent in February from a year ago, which was well below forecast for an advance of 0.7 percent. On a monthly basis, sales rose 0.2 percent, signaling that consumer spending is struggling to gain traction.

Crude oil prices extended their gains on Wednesday to a second consecutive session on the back of mounting expectations that OPEC and their allies will extend their output-cut deal into the second half of this year.

Besides, report showing supply disruptions in Libya also supported the prices. According to a source at the National Oil Corporation (NOC), Libya’s oil production has been reduced by 252,000 barrels per day (bpd) due to armed protesters in Libya which blocked production in the western Libyan fields of Sharara and Wafa.

Official data on U.S. supplies from the Energy Information Administration is due to be released later in the day. Analysts expect the weekly report to show an oil-stock rise of 1.2 million barrels. As stated by the American Petroleum Institute late Tuesday, U.S. inventories may have risen by 1.9 million barrels last week.



Technicals

GBPJPY


GBPJPY has consistently been experienced some corrections as the pair is struggling at a major support at 138.000 but in general, the pair has been tracing a downtrend with downward pressure from two MAs moving above the price action. As the market remains in a bearish zone, the pair is expected to trade lower and test another support at 137.300.

Trade suggestion

Sell Stop at 137.900, Take profit at 137.300, Stop loss at 138.200



NZDUSD



NZDUSD has been tracing downbeat moves since the pair failed to surpass a resistance at 0.70700. The short-term MA20 has penetrated the long-term MA50 from above, confirming the downtrend. With RSI further supported further down moves by pointing lower, the pair may test a key support at 38.2% Fibonacci retracement.

Trade suggestion

Sell Stop at 0.70000, Take profit at 0.69600, Stop loss at 0.70200



USDCAD


As can be seen from the price chart, the pair USDCAD has been supported by two MAs which are hanging below the price action. The pair hit the short-term MAs on Tuesday and reversed higher, facing a tough handle at 1.34000. RSI pointing to an overbought zone suggests a strong bullish momentum in the market.

Trade suggestion

Buy Stop at 1.34000, Take profit at 1.34350, Stop loss at 1.33800



EURO 50


Euro 50 index broke out of a resistance at 3460.00 yesterday and is heading upwards, looking set to attempt a major handle at 3500.00. Both RSI and ADX indices are pointing upwards, which indicates a strong uptrend. A divergence between +DI and –DI lines helps strengthen the forecast.

Trade suggestion

Buy Stop at 3475.00, Take profit at 3500.00, Stop loss at 3460.00

 

[CSFX.Support]

Crude Trade Idea by Capital Street FX

Supply Disruptions in Libya and Likelihood of An Extended Output-Curb Deal Push Oil Prices Higher

Crude oil prices extended their gains on Wednesday to a second consecutive session on the back of mounting expectations that OPEC and their allies will extend their output-cut deal into the second half of this year. Besides, report showing supply disruptions in Libya also supported the prices.

According to a source at the National Oil Corporation (NOC), Libya’s oil production has been reduced by 252,000 barrels per day (bpd) due to armed protesters in Libya which blocked production in the western Libyan fields of Sharara and Wafa.

Meanwhile, OPEC-led group was said to mull over an extension to their output curb deal. After a meeting in Kuwait on Sunday, Kuwait Oil Minister Issam Almarzooq said that the group was assessing whether to extend the reductions for another six months. Iranian Oil Minister Bijan Zanganeh on Tuesday strengthened the possibility, saying the global oil cuts deal is likely to be prolonged past June.

Official data on U.S. supplies from the Energy Information Administration is due to be released later in the day. Analysts expect the weekly report to show an oil-stock rise of 1.2 million barrels. As stated by the American Petroleum Institute late Tuesday, U.S. inventories may have risen by 1.9 million barrels last week.

Trade suggestion

Buy Stop at 48.60, Take profit 49.40, Stop loss at 48.20

 

[CSFX.Support]

CAD/JPY signal by Capital Street FX

From GMT 08:00 29/03/2017
Till GMT 21:00 29/03/2017

Buy at 83.200
Take profit at 83.700
Stop loss at 83.000

 

[CSFX.Support]

Daily Report on March 30, 2017 by Capital Street FX

Daily Report on March 30, 2017



Asian shares pared earlier gains which brought them to near two-year highs to turn lower on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan retreated from its loftiest levels since June 2015 in morning trade to record a slide of 0.3 percent. Declines in Equities in China and Japan offset gains in Australia and New Zealand.

Particularly, Hong Kong’s Hang Seng dropped 0.5 percent while the Hang Seng China Enterprises Index tumbled by 1.1 percent. Japan’s Topix index also found itself in a negative territory, edging down 0.4 percent. Meanwhile, Australia’s S&P/ASX 200 index climbed 0.4 percent to extend its rally to a third day, supported by gains in energy producers. New Zealand’s S&P/NZX 50 also inched higher, adding 0.5 percent.

Sterling rose slightly on Thursday after Prime Minister Theresa May on Wednesday formally began Britain's exit from the European Union by launching a two-year negotiation process before the divorce comes into effect in late March 2019. Whereas, euro lost ground versus most of its peers after reports said uncertainties concerning impacts of Brexit may cast a chill over the European Central Bank’s intention to end its easy-money policy.

Crude oil held on gains following a smaller-than-expected increase in U.S. gasoline stockpiles reported on Wednesday. The Energy Information Administration (EIA) said U.S. crude inventories rose 867,000 barrels in the week ending March 24, sending total inventories were at a record of nearly 534 million barrels. Analysts had expected a rise of 1.2 million barrels.



Technicals

EURJPY


EURJPY reversed lower after a failed attempt to cross over the short-term MA20. The pair fell back below a support at 119.300 and is likely to slide further to test another support at 38.2% Fibonacci retracement. RSI is pointing downwards, confirming further down moves.

Trade suggestion

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



NZDJPY


NZDJPY has been tracing a downtrend after hitting the long-term MA50 at around 78.300. The pair headed back down and has crossed over the short-term MA20 from above, suggesting the comeback of the downtrend. RSI fell below the central line, indicating that the market has slid into a bearish zone.

Trade suggestion

Sell Stop at 77.800, Take profit at 77.450, Stop loss at 77.900



SUGAR


Sugar gapped down on Thursday and has fallen below a key handle at 17.00. The commodity looked set to trade lower with a strong bearish force dominating the market. While RSI has reached the oversold zone, the ADX index keeps soaring and widening the gap between –DI and +DI lines.

Trade suggestion

Sell Stop at 16.95, Take profit at 16.65, Stop loss at 17.10



AUDUSD


AUDUSD extended its upward rally after a brief correction that sent the pair to test a support at 0.76500. Supported by the short-term MA20, the Aussie reversed higher and is marching to attempt a resistance at 0.77150. A soaring RSI signals further upbeat moves.

Trade suggestion

Buy Stop at 0.76750, Take profit at 0.77150, Stop loss at 0.76550

 

[CSFX.Support]

Natural Gas signal by Capital Street FX

U.S. Natural Gas Futures Surge Following Larger-than-expected Decline in Domestic Storage

U.S. natural gas futures prices rose strongly after a weekly data showed domestic supplies of the commodity fell more than expected last week.

Natural gas futures for May delivery traded near $3.230 per million British thermal units, paring early losses after data from the U.S. Energy Information Administration Thursday showed that natural gas storage fell by 43 billion cubic feet for the week ended March 24.

Analysts had expected a decline of 37 billion cubic feet last week.

According to the report, total stocks now stand at 2.049 trillion cubic feet, down 423 billion cubic feet from a year ago but 250 billion cubic feet above the five-year average.

Trade suggestion

Buy Stop at 3.230, Take profit 3.270, Stop loss at 3.210

 

[CSFX.Support]

CAD/CHF signal by Capital Street FX

From GMT 04:30 30/03/2017
Till GMT 21:00 30/03/2017

Buy at 0.74800
Take profit at 0.75200
Stop loss at 0.74600

 

[CSFX.Support]

Daily Report on March 31, 2017 by Capital Street FX

Daily Report on March 31, 2017



Global share weakened on Friday, poised to end a blockbuster quarter, which had been spurred by Trump’s pledge to boost U.S. economy, with a whimper. While MSCI's broadest index of Asia-Pacific shares outside Japan dropped by 0.55 percent, European shares experienced a muted start. Asian shares excluding Japanese equities added 12.5 percent for the quarter. European stocks including U.K.’s FTSE 100 index, France's CAC 40 index and Germany's DAX index gapped down.

The dollar held on gains on the back of upbeat Germany's DAX. According to a report from the Commerce Department on Thursday, U.S. gross domestic product increased at a 2.1 percent annualized rate, which was higher than the previously reported 1.9 percent pace, thanks to robust consumer spending that was partially met with a rise in imports.

Crude oil futures prices rose to a three-week high on Friday after rising speculations concerning OPEC-led group’s output-curb deal extension. Kuwait Oil Minister Issam Almarzooq said that his country and other countries support prolonging production cuts that are scheduled to expire in June.

Eurostat on Friday reported the Eurozone flash CPI inflation declined to 1.5% for March from 2.0% in the previous month. The reading was significantly below market expectations of a 1.8% increase and marked the lowest reading for three months. The core inflation reading also found itself on a decline. The headline figure slid to 0.7% from 0.9% previously and was below expectations of a smaller decline to 0.8%.



Technicals

USDCAD


USDCAD has broken out of a downtrend which has been marked by a downward slopping resistance that has connected lower high since March 09th. The pair is struggling with a pair of MAs but the market has entered a bullish zone. In the event of continual uptrend, the pair is expected to test a resistance at 1.34000.

Trade suggestion

Buy Stop at 1.33600, Take profit at 1.34000, Stop loss at 1.33400



EURUSD


EURUSD looked set to fall lower after moving sideways in early trade. The pair dropped to the lowest level since mid-March with the reversal into a downtrend confirmed by the short-term MA20 penetrating the long-term MA50 from above. A support at 1.06200 is within the sight.

Trade suggestion

Sell Stop at 1.06700, Take profit at 1.06200, Stop loss at 1.07000



Natural Gas


Natural Gas has been edging higher with the support from two MAs moving below the price action. The pair broke through the short-term MA20 yesterday but failed to cross over the long-term MA50. The market remains in the bullish territory, suggesting further advances.

Trade suggestion

Buy Stop at 3.220, Take profit at 3.270, Stop loss at 3.200



USDCHF


USDCHF reversed higher on the back of a period of moving sideways. The pair broke through the 61.8% Fibonacci resistance on Thursday and may surge higher with an overwhelming dominant of buyers. Bullish momentum may push the pair as high as 1.00600.

Trade suggestion

Buy Stop at 1.00200, Take profit at 1.00600, Stop loss at 1.00000

 

[CSFX.Support]

The Loonie Hits 1.42000 Versus Euro after Upbeat GDP Data

The Loonie Hits 1.42000 Versus Euro after Upbeat GDP Data

Canadian dollar hit more-than-three-week highs versus the euro on Friday after economic data showed the Canadian economy expanded more strongly than expected.

The pair dropped 0.15% to hit a support 1.42000 after Statistics Canada on Friday reported gross domestic product grew by a healthy 0.6 percent in January from December. The reading was by a healthy 0.6 percent in January from December and helped indicate that first-quarter growth will be stronger than expected as the country gradually recovers from the shock of low oil prices.

The rise in January, which marked the seventh in the past eight months, was spurred by widespread expansion in goods and services-producing industries.

Trade suggestion

Sell Stop at 1.42000, Take profit 1.41600, Stop loss at 1.42200

 

[CSFX.Support]

GBP/JPY signal by Capital Street FX

From GMT 03:00 31/03/2017
Till GMT 21:00 31/03/2017

Buy at 140.000
Take profit at 140.500
Stop loss at 139.750

 

[CSFX.Support]

Daily Report on April 03, 2017 by Capital Street FX

Daily Report on April 03, 2017



Asian share rose on Monday after the best quarter for the region’s equities in five years with equities from South Korea to Indonesia in a positive territory. The MSCI Asia Pacific Index added 0.2 percent, after recording a rise of 8.8 percent in the first quarter, the best performance since 2012. Hong Kong’s Hang Seng climbed 0.3 percent. South Korea’s Kospi and Singapore’s Straits Times Index also advanced 0.3 percent.

According to a Tankan survey released by the Bank of Japan on Monday, confidence among Japan’s large manufacturers improved for a second consecutive quarter in the first three months of the year as a weaker yen helped profits rise to a record. Sentiment among large manufacturers rose to 12 from 10 three months ago, roughly in line with forecast of 14, while the outlook among the manufacturers also increased to 11 from 8 in December.

The Aussie lost ground versus most of its peers on Monday following government’s data release that reported retail sales contracted 0.1 per cent month-on-month in February. This was a reverse after 0.4 per cent growth in January and also well below economists’ expectations for a 0.3 per cent gain. The sharp decrease was due to a second month of declines in clothing and footwear sales which plummeted by 2.5% in February following a 0.9% fall in the previous month. Meanwhile, sales at cafes and restaurants were flat, and food retailing rose 0.3%.

Crude oil futures prices fluctuated on Monday as a higher U.S. rig count continued to stoke worries about global oversupply, while a stronger dollar also pressured prices. Both WTI and Brent contracts posted their worst quarterly loss since late 2015 in the three-month period to March. Energy services firm Baker Hughes on Friday said the U.S. rig count increased by 10 to 662 last week, making the first quarter the strongest for oil rig additions since mid-2011.



Technicals

EURUSD


EURUSD has been moving sideways to lower around the lowest level which has not been seen since mid-March. The pair remained weak under the pressure from two MAs hanging above the price action. The currency pair is expected to fall lower to test a support at 1.06200 as the bear has still been dominating in the market, as indicated by the RSI index.

Trade suggestion

Sell Stop at 1.06600, Take profit at 1.06200, Stop loss at 1.06800



EURGBP


EURGBP broke out of a slopping downward trading range last Friday, falling as low as 0.84900 – the lowest level since February 27th. The pair failed to get back to the range and is tracing lower. The price is expected to decline further to a support at 0.84500.

Trade suggestion

Sell Stop at 0.85000, Take profit at 0.84500, Stop loss at 0.85250



GOLD


Gold has been moving sideways, tracing the long-term MA50 after having crossed over the short-term MA20 from above. The precious metal looked set to turn lower as the RSI index is heading downwards, suggesting a strengthening bearish momentum in the market. In the event of continual downtrend, gold may test a support at 1240.00.

Trade suggestion

Sell Stop at 1245.00, Take profit at 1240.00, Stop loss at 1247.00



Natural Gas


Natural gas has been tracing an uptrend with support from two MAs that are lingering below the price action. The market has remained in the bullish zone, suggesting further advances to come. The commodity is expected to attempt a major resistance at 50.0% Fibonacci retracement.

Trade suggestion

Buy Stop at 3.230, Take profit at 3.270, Stop loss at 3.210

 

[CSFX.Support]

AUDUSD Trade Idea by Capital Street FX

Aussie Plunges To Nearly One-week Low After A Sharp Drop in February’s Retail Sales

The Aussie lost ground versus most of its peers after figures from the Australian Bureau of Statistics on Monday showed a surprised drop in the country’s retail sales. The pair AUDUSD dropped more than 0.34 percent to trade at the lowest level since last Tuesday at $0.7603.

The Australian dollar is the weakest-performing major currency on Monday following government’s data release that reported retail sales contracted 0.1 per cent month-on-month in February. This was a reverse after 0.4 per cent growth in January and also well below economists’ expectations for a 0.3 per cent gain.

The sharp decrease was due to a second month of declines in clothing and footwear sales which plummeted by 2.5% in February following a 0.9% fall in the previous month. Meanwhile, sales at cafes and restaurants were flat, and food retailing rose 0.3%.

Trade suggestion

Sell Stop at 0.76000, Take profit 0.75600, Stop loss at 0.76200

 

[CSFX.Support]

CAD/JPY signal by Capital Street FX

From GMT 16:00 03/04/2017
Till GMT 21:00 03/04/2017

Sell at 82.800
Take profit at 82.300
Stop loss at 83.000

 

[CSFX.Support]

Daily Report on April 04, 2017 by Capital Street FX

Daily Report on April 04, 2017



Gold and Japanese Yen, benefitting from its status as a safe haven asset, gained versus the U.S. dollar on Tuesday, extending its upward rally to a third consecutive session amid global selloffs. The currency hit one-week high in Asian trading hours as Asian shares, which took their cues from a weaker U.S. equities session, were down in morning session.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent, led by a slump of 1.1 percent in Japan's Nikkei index as automakers tumbled on weaker-than-expected U.S. sales. The Topix index also dropped steeply, losing 0.8 percent, with Honda Motor Co., Mazda Motor Corp. and Nissan Motor Co. dropping more than 2.5 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi each shed 0.3 percent.

On Monday, European markets reached a 16-month high but failed to hold on to the gains as risk aversion returned while U.S. equities closed in the red after U.S. President Donald Trump signaled a potential tense meeting between him and his Chinese counterpart Xi Jiping later this week.

The Aussie dollar fell 0.5 percent, making a great contribution to its four-day decline of 1.3 percent. The Reserve Bank of Australia on Tuesday held its benchmark interest rate at record-low 1.50 percent and voiced concern over debt levels in Australia's housing market. The central bank was optimistic about the economy, citing positive business confidence and indicators of growth in employment but said that housing market was too hot to allow an easing.



Technicals

GBPUSD


GBPUSD has been tracing a strong slide. The price action fell below a support that connects higher lows and is heading downwards to the lowest level since last Wednesday at 1.23800. While RSI has reached the oversold zone, ADX is soaring, suggesting an overwhelming bearish force in the market.

Trade suggestion

Sell Stop at 1.24200, Take profit at 1.23800, Stop loss at 1.24400



COFFEE


Coffee prices reversed lower after having reached as high as 142.55 in Monday session – the highest level since March 22th. The commodity turned lower and crossed over both short-term MA20 and long-term MA50 from above, suggesting a reversal into a downtrend. The price is heading to a support at 61.8% Fibonacci retracement.

Trade suggestion

Sell Stop at 137.50, Take profit at 135.70, Stop loss at 138.40



SILVER


SILVER has broken through a major resistance at 38.2% Fibonacci level. This is the first time the price action has moved past through a Fib. retracement in the last one month. The metal looked set to test the highest level at 18.420 logged on Marcg 1st. RSI is tracing higher, support further advances.

Trade suggestion

Buy Stop at 18.320, Take profit at 18.420, Stop loss at 18.270



Dow Jones



U.S. Dow Jones index has been trading below a couple of MAs and under downward pressure exerted by these two resistances. The stock benchmark is struggling around a firm support at 20550.00. With RSI remaining in the bearish zone and ADX soaring, the index is expected to inch lower, probably to as low as 20400.00.

Trade suggestion

Sell Stop at 20550.00, Take profit at 20400.00, Stop loss at 20600.00

 

[CSFX.Support]

Gold Trade Idea by Capital Street FX

Asian Markets Trade Lower after U.S. Equities Close In the Red, Gold Hits One-Week High

Gold futures gained on Tuesday, extending its upward rally to a third consecutive session amid global selloffs. The precious metal hit one-week high in Asian trading hours as Asian shares, which took their cues from a weaker U.S. equities session, were down in morning session.

On Monday, European markets reached a 16-month high but failed to hold on to the gains as risk aversion returned while U.S. equities closed in the red after U.S. President Donald Trump signaled a potential tense meeting between him and his Chinese counterpart Xi Jiping later this week.

Gold futures prices rose nearly 0.4 percent to trade at $1258.70 per ounce, benefitting from its status as a safe haven asset.

Trade suggestion

Buy Stop at 1256.00, Take profit 1260.00, Stop loss at 1254.00

 

[CSFX.Support]

AUD/JPY signal by Capital Street FX

From GMT 05:20 04/04/2017
Till GMT 21:00 04/04/2017

Sell at 83.700
Take profit at 83.200
Stop loss at 84.000

 

[CSFX.Support]

Daily Report on April 05, 2017 by Capital Street FX

Daily Report on April 05, 2017



Global shares advanced on Wednesday, led by the rally in Chinese stocks after a two-day holiday break. The MSCI Asia Pacific Index climbed 0.2 percent, spurred strongly by the Shanghai Composite which soared by 1.4 percent and the Taiwan’s Taiex which also jumped by 1.4 percent. Australia’s S&P/ASX 200 Index also find itself in a positive zone, adding 0.3 percent.

Crude oil prices rose strongly on Wednesday after soaring in U.S. trading session overnight. Both benchmark contracts added another 0.5 percent following a rise of more than 1.5 percent on Tuesday, shooting the prices to the highest level since March 08th. The rally came amid an unplanned production outage in the North Sea and expectations of a drawdown in U.S. crude and product inventories.

Industry trade group American Petroleum Institute on Tuesday reported that crude oil inventories fell by 1.8 million barrels last week. Meanwhile, in the North Sea, production of crude oil from Britain's Buzzard field, which can produce 180,000 barrel per day, was temporarily halted as repair work is carried out at an onshore processing terminal, according to market sources.

Later on the day, investors will be looking for speeches delivered by U.S. central speakers including William Dudley, president of the New York Fed, and Governor Daniel Tarullo. Minutes from the Fed’s March meeting, which are scheduled to be released Wednesday, will also attract attention. China’s President Xi Jinping will meet U.S. President Donald Trump for two days starting Thursday.



Technicals

GBPCHF


GBPCHF has been tracing higher since it hit a support at 1.24400. The pair has been trapped in an upward trading range and supported by the lower boundary. The price action has crossed over the short-term MA20 and a resistance at 1.25000 from below. Further advances may take the pair to as high as 1.25600.

Trade suggestion

Buy Stop at 1.25100, Take profit at 1.25600, Stop loss at 1.24900



EURGBP


EURGBP hit the upper boundary of a slopping downward trading range to reverse lower. The pair is testing both a support at 0.85500 and the short-term MA20. RSI has fallen below the 50 line, suggesting a reversal into a downtrend. The pair may fell as low as 0.85000.

Trade suggestion

Sell Stop at 0.85400, Take profit at 0.85000, Stop loss at 0.85600



WTI


The crude price rose fiercely to hit a one-month high at 51.50 and is experiencing a correction as the market has entered the oversold zone. However, after this short correction, the price may inch higher with the support from two MAs lingering below the price action.

Trade suggestion

Buy Stop at 51.50, Take profit at 52.10, Stop loss at 51.20



SP500 Index


Sp500 index has been edging higher with the support from the short-term MA20. The stock benchmark is facing the long-term MA50 with the market just entering the bullish zone. In the event of continual upbeat moves, the index may surge higher to test a resistance at 2370.00.

Trade suggestion

Buy Stop at 2360.00, Take profit at 2370.00, Stop loss at 2355.00

 

[CSFX.Support]

Oil Trade Idea by Capital Street FX

Oil Reaches One-month Highs Thanks to Production Outage and Falling U.S. Supplies

Crude oil prices rose strongly on Wednesday after soaring in U.S. trading session overnight. Both benchmark contracts added another 0.5 percent following a rise of more than 1.5 percent on Tuesday, shooting the prices to the highest level since March 08th.

The rally came amid an unplanned production outage in the North Sea and expectations of a drawdown in U.S. crude and product inventories. Industry trade group American Petroleum Institute on Tuesday reported that crude oil inventories fell by 1.8 million barrels last week. The Energy Information Administration is due to publish official data later on the day, which is expected to show a 200,000 barrel fall in inventories.

Meanwhile, in the North Sea, production of crude oil from Britain’s Buzzard field, which can produce 180,000 barrel per day, was temporarily halted as repair work is carried out at an onshore processing terminal, according to market sources.

Trade suggestion

Buy Stop at 54.60, Take profit 55.40, Stop loss at 54.20

 

[CSFX.Support]

EUR/GBP signal by Capital Street FX

From GMT 16:30 05/04/2017
Till GMT 21:00 05/04/2017

Sell at 0.85350
Take profit at 0.84900
Stop loss at 0.85550

 

[CSFX.Support]

Daily Report on April 06, 2017 by Capital Street FX

Daily Report on April 06, 2017



Asian markets declined on Thursday, taking their cues from U.S. equities that ticked lower overnight after the latest Federal Reserve meeting showed policymakers considered shrinking the U.S. central bank’s balance sheet this year. The MSCI Asia Pacific Index dropped 1 percent to its lowest since March 15, led by losses in Japanese equities which fell the most in two weeks to trade at the lowest in four months.

Indeed, Japan’s Topix index shed 1.7 percent to the lowest level since December, marking the biggest one-day slide since March 22. The Hang Seng China Enterprises Index was down 1 percent followed by Hong Kong’s Hang Seng, South Korea’s Kospi and Australia’s S&P/ASX 200 Index that all lost 0.6 percent. Futures on the S&P 500 plunged by 0.4 percent.

The a summary of the Federal Open Market Committee meeting held in March revealed that Federal Reserve officials looked set to shrink the central bank’s $4.5 trillion balance sheet later this year.

Crude oil futures prices dropped on Thursday after having reversed lower the day before as U.S. government data showed a rise in domestic supplies which is eroding efforts led by OPEC to cut output and prop up prices. The U.S. Energy Information Administration (EIA) on Wednesday reported a 1.57 million barrels increase in crude inventories last week, sending a 1.57 million barrels increase in crude inventories.

Also contributing the crude’s slide, data released by the U.S. Census Bureau on Tuesday showed U.S. exports rose to a record 31.2 million barrels during February, which was equivalent to 1.1 million bpd, with most cargoes going to Asia - a market long dominated by Saudi Arabia and other Middle East producers.



Technicals

EURNZD


EURNZD failed to cross over the long-term MA50 and is struggling to penetrate the short-term MA20 from above. After recent down moves, the market has entered the bearish zone, as indicated by RSI which has fallen to as low as 45.66. A support at 1.52000 is within the sight.

Trade suggestion

Sell Stop at 1.52700, Take profit at 1.52000, Stop loss at 1.53000



WTI


U.S. crude prices rebounded from the short-term MA20 and is heading higher, retaining the market in the bullish zone, as indicated by the RSI index. The uptrend is becoming stronger with ADX edging higher while the gap between +DI and –DI lines are widening.

Trade suggestion

Buy Stop at 51.20, Take profit at 52.00, Stop loss at 50.80



COFFEE


Coffee’s price action has crossed over both long-term MA50 and short-term MA20. In general the commodity has been moving sideways but the market has remained in the bearish zone for a long time, suggesting dominating bearish force in the market. The price is expected to test a support at 61.8% Fibonacci level.

Trade suggestion

Sell Stop at 137.10, Take profit at 136.00, Stop loss at 137.50



NASDAQ


US’s NASDAQ index rebounded from the long-term MA50 support and is heading upward towards a resistance at 5450.00. The RSI index has returned to the bullish zone after having moved past the central line. The benchmark is expected to advance further.

Trade suggestion

Buy Stop at 5425.00, Take profit at 5450.00, Stop loss at 5410.00

 

[CSFX.Support]

Oil Trade Idea by Capital Street FX

Oil Edges Lower on The Back of Rising U.S. Supplies and Increasing U.S. Crude Exports

Crude oil futures prices dropped on Thursday after having reversed lower the day before as U.S. government data showed a rise in domestic supplies which is eroding efforts led by OPEC to cut output and prop up prices.

The U.S. Energy Information Administration (EIA) on Wednesday reported a 1.57 million barrels increase in crude inventories last week, sending a 1.57 million barrels increase in crude inventories.

Also contributing the crude’s slide, data released by the U.S. Census Bureau on Tuesday showed U.S. exports rose to a record 31.2 million barrels during February, which was equivalent to 1.1 million bpd, with most cargoes going to Asia – a market long dominated by Saudi Arabia and other Middle East producers.

Trade suggestion

Sell Stop at 50.80, Take profit 50.00, Stop loss at 51.20