Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

GBP/CHF signal by Capital Street FX

From GMT 15:30 18/04/2017
Till GMT 21:00 18/04/2017

Buy at 1.27500
Take profit at 1.28000
Stop loss at 1.27300

 

[CSFX.Support]

Daily Report on April 19, 2017 by Capital Street FX

Daily Report on April 19, 2017



While Asian shares lost ground, European stocks advanced thanks to gains in commodity producers. Depressed by losses in Chinese equities, stocks in Asia fell with the MSCI Asia Pacific Index retreated 0.4 percent. The Shanghai Composite Index fell 1 percent to the lowest level since February while The Hang Seng Index slid 0.7 percent.

Australia’s S&P/ASX 200 Index and South Korea’s Kospi also found themselves in bearish territories, losing 0.7 percent and 0.5 percent, respectively.

By contrast, European shares rose, boosted by higher metals prices. The Stoxx Europe 600 Index reversed higher after the biggest one-day loss since November. The benchmark was led by materials companies, especially Glencore Plc, as zinc, aluminum and iron ore rose after sharp drops earlier in the week.

Oil futures prices edged higher after two days of declines in a row. Both crude benchmarks advanced on Wednesday after a weekly report showed a drop in U.S. inventories.

The American Petroleum Institute (API) on Tuesday said U.S. storages plunged by 840,000 barrels in the week to April 14 to 531.6 million barrels. Official U.S. oil data is expected to be published later on Wednesday by the Energy Information Administration (EIA).



Technicals

AUDUSD


AUDUSD’s price action has dropped below the long-term MA50, suggesting a strong downtrend after the pair reversed from a resistance at 23.6% Fibonacci level. As the RSI is heading downwards while ADX is edging higher, the down moves are expected to extend which may send the price to as low as a support at 0.74700.

Trade suggestion

Sell Stop at 0.75100, Take profit at 0.74700, Stop loss at 0.75300



GBPNZD


GBPNZD retreated after it hit the highest level since early August 2016. The currency pair soon rebounded from a support at 1.82000. Both RSI and ADX indices are soaring, signaling a strong uptrend that may bring the pair to as high as a resistance at 1.83500.

Trade suggestion

Buy Stop at 1.82900, Take profit at 1.83500, Stop loss at 1.82600



EURCAD


EURCAD has been tracing higher since it rebounded from a support at 50.0% Fibonacci level. The rally has sent the market into an overbought zone. As the result, it may be hard for the pair to break a resistance at 1.44800 even ADX is still soaring high.

Trade suggestion

Buy Stop at 1.44000, Take profit at 1.44800, Stop loss at 1.43600



FTSE 100


FTSE 100 continued to trade lower following a short correction after the pair fell to the lowest level since early February. RSI also reversed higher, signaling an overwhelming bearish momentum in the market. The stock benchmark is expected to fall as low as 7090.00.

Trade suggestion

Sell Stop at 7130.00, Take profit at 7090.00, Stop loss at 7150.00

 

[CSFX.Support]

IBM Trade Idea by Capital Street FX

Weighed Down by Declining Quarterly Revenue and Earnings, IBM Shares Tumble

Shares of International Business Machines Corp. (IBM Corp.) plunged sharply by more than 5 percent in after-hour U.S. trading on Tuesday after the company reported declines in revenue and earnings on a yearly basis.

The software company said in the first quarter of 2017, it earned a net income of $1.75 billion, or $1.85 a share, which was below a figure of $2 billion, or $2.09 a share, in the year-earlier period. Excluding one-time items, IBM said earnings came in at $2.38 a share, roughly above consensus estimate of $2.35.

Regarding the company’s revenue for the three-month period, data showed a decline to $18.16 billion from $18.7 billion last year regardless of a 60% improvement in its software-as-a-service business. The result missed a Wall Street’s estimate of $18.4 billion.

As for its fiscal 2017 outlook, IBM maintained its forecast for earnings of at least $13.80 a share. This was slightly above analysts’ expectations calling for full-year earnings of $13.77 a share.

Trade suggestion

Sell Stop at 160.90, Take profit 159.00, Stop loss at 162.00

 

[CSFX.Support]

AUD/JPY signal by Capital Street FX

From GMT 04:40 19/04/2017
Till GMT 21:00 19/04/2017

Sell at 81.700
Take profit at 81.100
Stop loss at 82.000

 

[CSFX.Support]

Daily Report on April 20, 2017 by Capital Street FX

Daily Report on April 20, 2017



European shares edged higher on Thursday after having fluctuated in early trade while Asian shares closed higher. On the back of a weak Japanese Yen and better-than-forecast trade figures, Japan’s Topix index scored its first weekly gain in more than a month. Stocks in Hong Kong, Australia and South Korea all advanced. The Hang Seng rose by 0.7 percent, Australia’s S&P/ASX 200 Index jumped 0.3 percent while South Korea’s Kospi index climbed 0.5 percent.

French stocks soared on Thursday with gains in equities of Publicis Groupe SA and Pernod Ricard SA overwhelming concerns over risks associated with this weekend’ presidential election vote.

Crude oil rebounded, rising by more than 0.6 percent following a slump of 3.8 percent Wednesday as the EIA reported U.S. gasoline supplies increased for the first time since February while U.S. crude oil production surged to 9.25 million barrels per day (bpd), up almost 10 percent since mid-2016.

According to data released by the Ministry of Finance, Japanese exports grew at the fastest rate in more than two years in March. Japan’s exports were reported to take off by 12 percent from a year earlier while imports jumped 15.8 percent. That left the trade balance for March surplus at 614.7 billion yen ($5.64 billion), higher than economists’ estimate of 608 billion yen.

Elsewhere, New Zealand consumer price inflation (CPI) was said to jump steeply in the March quarter, reaching its central bank’s target for the first time in more than five years. The country’s CPI surged by a hefty 1% in seasonally adjusted terms, above forecast calling for a rise of 0.8%. The figure marked the largest quarterly gain since the June quarter of 2011.



Technicals

EURNZD


EURNZD has broken out of a downtrend which was retrained by a slopping downward trend line connecting lower highs. The pair looked set to comfortably break a resistance at 1.53400 as the short-term MA20 has penetrated the long-term MA50 from below, suggesting a strong uptrend. Both RSI and ADX indices are edging higher, signaling further advances.

Trade suggestion

Buy Stop at 1.53600, Take profit at 1.54100, Stop loss at 1.53350



EURUSD


EURUSD has breached a resistance at 1.07100 after a period of moving sideways below this level. The pair is likely to surge higher in an attempt to reach another firm resistance at 1.08150 with support from two MAs moving below the price action.

Trade suggestion

Buy Stop at 1.07750, Take profit at 1.08150, Stop loss at 1.07550



FTSE 100


FTSE 100 index continued to trade lower after having moved sideways on Wednesday. The pair gained in early trade as buyers jumped in to take advantages of a market falling in the oversold zone. However, bullish momentum seemed weak and the index may drop below a support at 7090.00 to test a support at 7050.00.

Trade suggestion

Sell Stop at 7090.00, Take profit at 7050.00, Stop loss at 7110.00



CAC40


France’s stock benchmark soared high on Thursday, sending its price action past both short-term and long-term MAs, signaling a reversal into an uptrend. The pair is struggling around a resistance at 5055.00 and is expected to edge higher to test a level at 5085.00

Trade suggestion

Buy Stop at 5055.00, Take profit at 5085.00, Stop loss at 5040.00

 

[CSFX.Support]

American Express Trade Idea by Capital Street FX

American Express Shares Advance As Earnings and Sales Fall Less Than Expected

Share of American Express Co’s jumped 2.5 percent after the bell on Wednesday as the credit-card company reported first-quarter earnings and sales above analyst expectations.

American Express posted a first-quarter net income of $1.2 billion, or $1.34 a share. This was a decline compared with $1.4 billion, or $1.45 a share, in the year-ago quarter but was still beat market’s forecast for earnings of $1.28 per share.

Sales were also down from a year ago but fell less than expected. The company reported sales dropped 2 percent to $7.9 billion in the first quarter of 2017 from $8.1 billion a year earlier. Economists had expected sales to plunge to $7.7 billion.

Trade suggestion

Buy Stop at 77.30, Take profit 78.00, Stop loss at 77.00

 

[CSFX.Support]

EUR/JPY signal by Capital Street FX
From GMT 04:30 20/04/2017
Till GMT 21:00 20/04/2017
Buy at 116.900
Take profit at 117.400
Stop loss at 116.700



GBP/JPY signal by Capital Street FX
From GMT 15:30 20/04/2017
Till GMT 21:00 20/04/2017
Buy at 140.200
Take profit at 140.800
Stop loss at 139.900

 

[CSFX.Support]

Daily Report on April 21, 2017 by Capital Street FX

Daily Report on April 21, 2017



Asian shares were mostly higher on Friday thanks to positive sentiment from U.S. equities overnight which were boosted by optimism over a U.S. tax overhaul. The MSCI Asia Pacific Index looked set to put an end to a four-week string of declines, rising by 0.7 percent on Friday, contributing to a rise of 0.4 percent for the week. Australia’s S&P/ASX 200 Index and South Korea’s Kospi index jumped more than 0.6 percent each.

Also heading for its first weekly gain in more than a month, Japan’s Topix index rose 1.1 percent, spurred higher by a weak yen. The Japanese Yen weakened after Bank of Japan Governor Haruhiko Kuroda on Friday said the central bank will maintain a very accommodative monetary policy and the current pace of asset purchases for some time as the inflation rate is still quite sluggish.

Hong Kong’s Hang Seng edged 0.2 percent higher while The Shanghai Composite dropped 0.3 percent, extending its worst weekly decline of the year.

Crude prices continued to move sideways on Friday after fluctuating in the previous session as investors were kept on the sidelines amidst tussle between concerns over swelling U.S. production and optimism over comments from some OPEC members stating that an extension to OPEC-led supply cuts was likely.

According to Office for National Statistics, U.K. retail sales fall sharply in March, tumbling by 1.8% month-over-month. This was much higher than market forecast calling for a 0.3% decline.



Technicals

EURNZD



EURNZD has broken below both the short-term MA20 and the long-term MA50, suggesting a reversal into a downtrend. The downbeat moves have sent the market into a bearish zone, as indicated by RSI index which has move past the 50 line. A support at 1.52100 is within the sight.

Trade suggestion

Sell Stop at 1.52700, Take profit at 1.52100, Stop loss at 1.53000



EURCAD


EURCAD has escaped from a period of moving sideways around the long-term MA50 level. The pair fell below this dynamic support and is heading lower towards a support at 1.43500. While RSI is pointing down, ADX index is edging higher, suggesting further declines.

Trade suggestion

Sell Stop at 1.44000, Take profit at 1.43500, Stop loss at 1.44200



DAX


Germany’s DAX 30 index failed to fight the pressure from the short-term MA20. The bear continued to dominate in the market, as indicated by RSI index which has been immersed in the bearish zone. The index is expected to extend the down moves and may fall as low as 11930.00.

Trade suggestion

Sell Stop at 12010.00, Take profit at 11930.00, Stop loss at 12050.00



EURO 50


Euro 50 index reversed lower after having failed to hit a resistance at 3450.00. The stock benchmark has also been under pressure exerted by two MAs hanging above the price action. As RSI is heading downwards to the oversold zone, the price is expected to fall further to as low as 3400.00.

Trade suggestion

Sell Stop at 3420.00, Take profit at 3400.00, Stop loss at 3430.00

 

[CSFX.Support]

Trade signals by Capital Street FX

EUR/AUD signal by Capital Street FX
From GMT 05:00 21/04/2017
Till GMT 21:00 21/04/2017
Sell at 1.42300
Take profit at 1.41700
Stop loss at 1.42600


GOLD/USD signal by Capital Street FX
From GMT 16:00 21/04/2017
Till GMT 21:00 21/04/2017
Buy at 1285.00
Take profit at 1291.00
Stop loss at 1282.00

 

[CSFX.Support]

Daily Report on April 24, 2017 by Capital Street FX

Daily Report on April 24, 2017



Like other safe-haven assets, gold futures prices lost ground on Monday as stock markets were broadly spurred strongly following French first-round presidential election. European jumped with the Stoxx Europe 600 Index climbing the most since October. The stock benchmark added 1.7 percent to the highest since December 2015. Other stock indices surged high. France’s CAC 40 soared 3.9 percent, Germany’s DAX climbed 2.6 percent and the U.K.’s FTSE 100 increased 1.7 percent.

The euro jumped sharply to a five-month high versus its American counterpart on Monday. The single currency shortly jumped above 1.09000 – the highest level since November 11th, 2016 before retreating to trade as high as 1.08600 against the dollar, still rising nearly 1.25 percent compared to the open price.

The rally came after after centrist Emmanuel Macron and far-right nationalist Marine Le Pen won the first round of the French presidential election, easing concerns that only anti-European Union candidates would be in the final runoff on May 7.

According to results from the Interior Ministry based on 97.4 percent of votes counted which were released early Monday, Macron led with 23.8 percent in Sunday’s election, followed by National Front leader Le Pen who had 21.5 percent. A poll on Sunday suggested Macron would defeat Le Pen by more than 20 percentage points in the second round.



Technicals

AUDJPY


The pair gapped up in early trade but retreated as its sharp up move sent the market into an overbought zone. The pair has reversed higher to extend its rally with the short-term MA20 penetrated the long-term MA50 from below, suggesting a reversal into an uptrend. Rising RSI and ADX indices signal further advances.

Trade suggestion

Buy Stop at 83.500, Take profit at 84.000, Stop loss at 83.250



USDCAD


USDCAD fell below a support at 1.34550 after having penetrated the short-term MA20 from below. Recent down moves have brought the market into a bearish territory, as indicated by the RSI index. A support at 1.34000 is within the sight.

Trade suggestion

Sell Stop at 1.34400, Take profit at 1.34000, Stop loss at 1.34600



SP500

The Sp500 index broke out of a trading range which trapped the price between a support of 2335.00 and a resistance at 2370.00. While RSI is pointing upwards, the +DI line has crossed over the –DI line from below, indicating a strong bullish momentum in the market.

Trade suggestion

Buy Stop at 2377.00, Take profit at 2390.00, Stop loss at 2370.00



Dow Jones

U.S. Dow Jones index gapped up on Monday, breaking out of a downward trading range. Last week, the index was depressed by a couple of MAs which restrained bullish momentum and impeded the price from advancing. With today’s strongly upbeat move, the index is expected to test a resistance at 20850.00.

Trade suggestion

Buy Stop at 20750.00, Take profit at 20850.00, Stop loss at 20700.00

 

[CSFX.Support]

Euro Surges Past 1.09000

Euro Surges Past 1.09000 After Centrist Emmanuel Macron Wins French First-round Presidential Election

The euro jumped sharply to a five-month high versus its American counterpart on Monday, spurred strongly by the result of French first-round presidential election.

The single currency shortly jumped above 1.09000 – the highest level since November 11th, 2016 before retreating to trade as high as 1.08600 against the dollar, still rising nearly 1.25 percent compared to the open price. The rally came after after centrist Emmanuel Macron and far-right nationalist Marine Le Pen won the first round of the French presidential election, easing concerns that only anti-European Union candidates would be in the final runoff on May 7.

According to results from the Interior Ministry based on 97.4 percent of votes counted which were released early Monday, Macron led with 23.8 percent in Sunday’s election, followed by National Front leader Le Pen who had 21.5 percent. A poll on Sunday suggested Macron would defeat Le Pen by more than 20 percentage points in the second round.

Trade suggestion

Buy Stop at 1.08600, Take profit 1.09000, Stop loss at 1.08400

 

[CSFX.Support]

Trade signals by Capital Street FX

EUR/JPY signal by Capital Street FX
From GMT 06:00 24/04/2017
Till GMT 21:00 24/04/2017
Buy at 119.700
Take profit at 120.300
Stop loss at 119.400


USD/CAD signal by Capital Street FX
From GMT 16:30 24/04/2017
Till GMT 21:00 24/04/2017
Buy at 1.35200
Take profit at 1.35700
Stop loss at 1.35000

 

[CSFX.Support]

Daily Report on April 25, 2017 by Capital Street FX

Daily Report on April 25, 2017



Asian stock markets edged higher on Tuesday, as investors continued to tolerate risk appetite with a centrist victory in the first round of the French presidential election lifting several regional markets to multi-year highs. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 percent, reaching its highest level in more than three weeks and marking four straight days of gains.

Japanese equities rose for a fourth straight session, rising 0.9 percent after jumping 1 percent Monday. The Shanghai Composite reversed higher, advancing 0.2 percent after tumbling 1.4 percent on Monday. Taiwan’s Taiex and Singapore’s Straits Times Index also increased. Australia and New Zealand are closed Tuesday for Anzac Day.

Safe-haven assets, including the yen and gold remained under pressure. While the Japanese yen continued to drop 0.4 percent to 110.19 after losing 0.6 percent in the previous session, gold lost 0.3 percent to $1,272.82 after slipping 0.6 percent on Monday.

Canadian dollar dropped to four-month low against the dollar after U.S. President Donald Trump on Monday announced new duties averaging 20 percent on Canadian softwood lumber imports. Canadian government vowed to sue if needed.



Technicals

EURJPY


EURJPY has been surging on a strong bullish momentum after the price action revered higher from a support at 119.100. The market has entered the overbought zone, as indicated by RSI index. However, the pair is expected to test a major resistance at 23.6% Fibonacci level.

Trade suggestion

Buy Stop at 120.200, Take profit at 120.600, Stop loss at 120.000



EURAUD


EURAUD has been retesting the highest level since early January 2017 at 1.44350 recorded on Monday. The pair is likely to move past this level and hit a major resistance at 1.45000, given rising RSI and ADX index, not to mention a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 1.44400, Take profit at 1.45000, Stop loss at 1.44100



BRENT


Brent crude has been moving sideways to lower under pressure of two MAs that are moving above the price action. Although ADX is at low levels, indicating that there is no clear in the market, RSI is at oversold market, suggesting a strong bearish momentum.

Trade suggestion

Sell Stop at 51.65, Take profit at 51.00, Stop loss at 52.00



SILVER


Silver has been pushed down by the short-term MA20. The metal failed to break out of this dynamic resistance and is heading downwards towards a support at 17.720. RSI is pointing to the oversold zone, signaling further downbeat moves.

Trade suggestion

Sell Stop at 17.830, Take profit at 17.720, Stop loss at 17.880

 

[CSFX.Support]

SP500 Trade Idea by Capital Street FX

U.S. Shares Rally, Sp500 To Hit 2,400.00 Milestone Amidst Upbeat Earnings and U.S. Tax Reform Speculation

U.S. shares rallied on Tuesday with all stock benchmark indexes, as investors’ optimism was spurred by speculation about U.S. tax reform and upbeat earnings of U.S. corporations and better-than-expected economic data.

The S&P 500 added about 0.6%, to 2,387, with 8 of the main 11 sectors trading higher. While materials and financials were leading gains, up more than 1% each, telecommunication services and utilities led losses.

Reporting earnings results on Tuesday, construction machinery maker Caterpillar Inc., DuPont and fast-food giant McDonald’s Corp. posted figures that all topped analyst forecasts.

Meanwhile, new home sales surged dramatically to an eight-month high last month as demand remains hot. According to the Commerce Department, new home sales jumped 5.8 percent to a seasonally adjusted annual rate of 621,000 units last month, the highest level since July 2016.

Trade suggestion

Buy Stop at 2390.00, Take profit 2400.00, Stop loss at 2385.00

 

[CSFX.Support]

Trade signals by Capital Street FX

USD/JPY signal by Capital Street FX
From GMT 05:00 25/04/2017
Till GMT 21:00 25/04/2017
Buy at 110.100
Take profit at 110.500
Stop loss at 109.900

GBP/AUD signal by Capital Street FX
From GMT 16:45 25/04/2017
Till GMT 21:00 25/04/2017
Buy at 1.70500
Take profit at 1.71000
Stop loss at 1.70300

 

[CSFX.Support]

Daily Report on April 26, 2017 by Capital Street FX

Daily Report on April 26, 2017



Japanese Yen continued to lose ground versus its American counterpart on Wednesday, slipping more than 0.1 percent after having dropped 1.2 percent on Tuesday. The pair USDJPY hit an intra-day high of 111.500 - the highest since April 10th. Pushed higher by a weak currency, Japan’s Topix index rose 1 percent, advancing for a fifth straight day for the longest winning streak this year.

In general, Asian shares extended a global rally after U.S. stocks ended higher following upbeat corporate results and amidst hopes that U.S. tax reform boosted optimism for global growth. Weakness in the yen lifted Japanese equities for a fifth day.

The MSCI Asia Pacific Index soared to the highest level since mid-2015 with Hong Kong’s Hang Seng and Singapore’s Straits Times Index rising 0.6 percent and 0.4 percent, respectively. Meanwhile, Australia’s S&P/ASX 200 Index and New Zealand’s S&P/NZX 50 Index increased after reopening after a holiday on Tuesday. South Korea’s Kospi index climbed 0.4 percent and the Shanghai Composite Index added 0.4 percent after climbing 0.2 percent on Tuesday.

Crude prices resumed their downward trend on Wednesday after the American Petroleum Institute (API) on Tuesday said that U.S. crude oil inventories rose by 897,000 barrels in the week to April 21 to 532.5 million barrels. Official data from the Energy Information Administration will be released later on the day which is expected to show a decrease of 1.1M barrels.



Technicals

USDJPY


USDJPY rebounded after having failed to break below a support at 50.0% Fibonacci retracement. The pair retreated from a resistance at 111.500 after continuously up moves sent the market into an overbought zone. Both RSI and ADX are rising, suggesting a strong bullish momentum in the market.

Trade suggestion

Buy Stop at 111.500, Take profit at 112.000, Stop loss at 111.200



EURAUD


EURAUD has been trading higher since it left a gap earlier this week. Although the market has entered an overbought zone, the pair is most likely to test a resistance at 38.2% Fibonacci retracement as the bull is still dominating in the market, as indicated by advancing RSI and ADX indices.

Trade suggestion

Buy Stop at 1.45700, Take profit at 1.46900, Stop loss at 1.45000



BRENT


As can be seen from the price chart, Brent crude has been under downward pressure from two MAs, especially from the short-term MA20. The commodity is expect to trade lower to fall as low as 23.6% Fibonacci retracement.

Trade suggestion

Sell Stop at 51.55, Take profit at 50.95, Stop loss at 51.85



SUGAR

Sugar has been moving sideways to lower around a support at 16.10. The commodity has also been under downward pressure from two MAs and is anticipated to inch lower to test a major support at 61.8% Fibonacci retracement.

Trade suggestion

Sell Stop at 16.00, Take profit at 15.45, Stop loss at 16.25

 

[CSFX.Support]

AT&T Trade Idea by Capital Street FX

Shares of AT&T Inch Lower as Revenues Miss Expectations

Shares of AT&T Inc. slipped 0.25% in after-trading hours on Tuesday after the telecommunications giant reported revenues that missed expectations.

Due to the fact that sales of wireless equipment hit an all-time low, in the first quarter of 2017, net income only reached $3.5 billion, or 56 cents a share, on revenue of $39.4 billion, which was lower than both the year-ago quarter’s reading and forecast calling for a figure of $40.5 billion. After adjusting for one-time items, AT&T reported earnings of 74 cents a share, in line with expectations.

The company said it added 2.7 million wireless customers in the quarter, twice as many as expected of 1.3 million. However, AT&T lost 61,000 postpaid customers in North America in the three-month period to March, while analysts were expecting a rise of 95,000.

Trade suggestion

Sell Stop at 39.80, Take profit 39.00, Stop loss at 40.20

 

[CSFX.Support]

Trade signals by Capital Street FX

EUR/NZD signal by Capital Street FX
From GMT 11:50 26/04/2017
Till GMT 21:00 26/04/2017
Buy at 1.58000
Take profit at 1.59000
Stop loss at 1.57500



SILVER/USD signal by Capital Street FX
From GMT 17:00 26/04/2017
Till GMT 21:00 27/04/2017
Sell at 17.360
Take profit at 17.230
Stop loss at 17.420

 

[CSFX.Support]

Daily Report on April 27, 2017 by Capital Street FX

Daily Report on April 27, 2017



European shares reversed lower on Thursday after having risen for seven sessions in a row, depressed by losses in Deutsche Bank AG’s stocks while investors were nervously waiting for a policy update from the European Central Bank which will be released later on the day. The Stoxx Europe 600 dropped more than 0.5 percent to trade as low as 385.00. The index rose 0.5% to close at the highest level since August 2015 on Wednesday.

Dollar lost ground versus most of its peers, especially against the Mexican peso and Canadian dollar, sliding after U.S. President Donald Trump on Wednesday ruled out a withdrawal from the North American Free Trade Agreement. According to the White House, Trump spoke by telephone with Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau on Wednesday, saying that he would hold back from a speedy termination of NAFTA.

The Bank of Japan on Thursday kept its stimulus policies unchanged but lowered its inflation forecast. In its quarterly outlook report, the BOJ cut its inflation projection for the fiscal year that started this month to 1.4 percent from 1.5 percent, underlining that any exit from its unprecedented monetary easing remains far away.

Crude prices extended their down moves to a second session as weekly data showed U.S. refined oil production rose faster than the consumption’s pace. The U.S. Energy Information Administration on Wednesday reported that domestic crude supplies fell 3.6 million barrels for the week ended April 21. However, U.S. crude oil production has risen by 10 percent since mid-2016 to 9.27 million bpd.



Technicals

GBPUSD


GBPUSD has been attempting to break above a major resistance at 1.29000. The pair retreated at this level due to the fact that the market had entered the overbought market but reversed higher with support from two MAs. Both RSI and ADX are rising, signaling further advances.

Trade suggestion

Buy Stop at 1.29000, Take profit at 1.29400, Stop loss at 1.28800



EURGBP


EURGBP has fallen below a support at 0.84500 and is aiming to cross over the long-term MA50 from below. Recent down moves have brought the market into a bearish zone, as indicated by the RSI index. A support at 38.2% Fibonacci level is within the sight.

Trade suggestion

Buy Stop at 0.84400, Take profit at 0.84000, Stop loss at 0.84600



SILVER


Silver has been struggling around the 50.0% Fibonacci retracement. The precious metal is expected to fall lower with the market has been dominated by sellers. The price may drop to as low as a support at 17.300, depressed by two MAs hanging above the price action.

Trade suggestion

Sell Stop at 17.400, Take profit at 17.300, Stop loss at 17.450



FTSE100

FTSE 100 index has broken below both a support at 7260.00 and a couple of MAs, signaling a reversal into a downtrend. While RSI is pointing down, ADX is rising, suggesting a strong bearish momentum in the market which can send the index to as low as 7190.00.

Trade suggestion

Sell Stop at 7240.00, Take profit at 7190.00, Stop loss at 7260.00

 

[CSFX.Support]

PayPal Trade Idea by Capital Street FX

Shares of PayPal Hit Record after Better-than-expected Earnings and Stock-repurchase Announcement

Shares of PayPal Holdings Inc. soared more than 5.6 percent to top record highs in after-hours trading on Wednesday after the company reported first-quarter earnings results that beat earnings expectations.

The online-payments company posted net income of $384 million, or 32 cents a share, on revenue of $2.98 billion. Adjusting for one-time items, Paypal’s profit came in at 44 cents a share, above analysts’ expectation of 41 cents a share on revenue of $2.94 billion.

On a yearly basis, total payments volume on PayPal’s platform jumped dramatically 23% to $99.3 billion, nearly topped $100 billion for the first time. PayPal also announced a $5 billion stock-repurchase plan which will be started right after its $2 billion stock-repurchase program announced in January 2016 is complete.

Trade suggestion

Buy Stop at 46.90, Take profit 47.50, Stop loss at 46.60