Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

Daily Report on May 17, 2017 by Capital Street FX

Daily Report on May 17, 2017



Asian equities lost ground on Wednesday with MSCI's broadest index of Asia-Pacific shares outside Japan losing 0.5 percent while contracts on the S&P 500 Index also found themselves in a downtrend in Asia on the back of reports that U.S. President Donald Trump asked FBI Director James Comey to end a probe into former National Security Adviser Michael Flynn.

The U.S. equities and the greenback had already been in negative territory after a report alleging the president to share terrorism intelligence with Russian officials.

As investors flocked into safe-haven assets including Japanese Yen, Japan's Topix shed 0.6 percent. Australia’s S&P/ASX 200 Index slid 1 percent while Australia’s S&P/ASX 200 Index dropped 0.4 percent and Singapore’s Straits Times Index declined by 0.6 percent. Futures on the S&P 500 Index plunged by 0.6 percent, extending the downtrend after reversing from Tuesday’s all-time high of 2,405.77.

Crude prices lost around 1 percent on Monday following weekly data that pointed to an increase in U.S. crude inventories. The American Petroleum Institute (API) on Tuesday reported that U.S crude stockpiles rose by 882,000 barrels in the week ending May 12 to 523.4 million. Analysts had expected for a decrease of 2.4 million barrels.

The U.S. Energy Information Administration is scheduled to report its data later on the day with markets expecting a drop by 2.67 million barrels last week. OPEC’s internal Economic Commission Board is due to meet in Vienna on Wednesday to discuss the market in preparation for the group’s formal meeting scheduled on May 25.



Technicals

NZDUSD


NZDUSD has been supported by a couple of MAs. The pair retested a high at 0.69160 recorded on Monday. Both RSI and ADX indices are soaring, indicating a strong bullish force in the market. The price is heading upward in an attempt to test a major resistance at 38.2% Fibonacci retracement.

Trade suggestion

Buy Stop at 0.69200, Stop loss at 0.69600, Take profit at 0.69000



USDCHF


USDCHF has been tracing a dramatically sharp downtrend that sent the pair from as high as 1.01000 to as low as 0.98300 – a plunge of 270 pips. Although RSI indicates the pair has entered the oversold zone, ADX keeps edging higher. However, the pair is expected to experience a reversal as investors may buy at low prices. Therefore, 38.2% Fib.level is expected to be a firm support.

Trade suggestion

Sell Stop at 0.98300, Stop loss at 0.97800, Take profit at 0.98500



COFFEE


Coffee prices have been on a downtrend under downward pressure from two MAs hanging above the price action. The commodity has tested a support at 130.80 where it had to reverse higher on April 21st and 25th. While RSI has nearly entered the oversold zone, ADX is soaring with a widening gap between –DI and +DI lines, suggesting further declines.

Trade suggestion

Sell Stop at 130.80, Stop loss at 128.50, Take profit at 132.00



GOLD


Gold is on a course to retest the 38.2% Fibonacci level after having broken out of a short consolidation around 1239.00. With two MAs lingering below the price action and indices that confirm the uptrend, the precious metal may soar to a strong resistance at 1250.00.

Trade suggestion

Buy Stop at 1244.00, Stop loss at 1250.00, Take profit at 1241.00

 

[CSFX.Support]

Target Corp Trade Idea by Capital Street FX

Target Shares Surge High in Premarket Trading Following Better-than-expected Quarterly Results

Shares of Target Corp. jumped more than 6 percent in premarket trading on Wednesday after the company reported adjusted earnings and sales in the last quarter outstripped markets’ forecasts.

The retailer earned $681 million, or $1.23 a share, compared with $632 million, or $1.05 a share, a year ago. Adjusted for one-time items, net earnings were $1.21, topping Wall Street’s expectations.

Sales were reported to come in at $16.02 billion, slightly lower than $16.19 billion recorded a year ago. However, the result still beat market forecast of $15.62 billion. The company forecasts adjusted earnings for the second quarter to fall in a range from 95 cents to $1.15 a share. Economists expect adjusted earnings to reach $1 a share.

Trade suggestion

Buy Stop at 56.80, Take profit 58.00, Stop loss at 56.20

 

[CSFX.Support]

USDJPY Trade Idea by Capital Street FX

Japanese Yen Extends Upward Rally versus Dollar As Global Shares Tumble

Japanese Yen extended its gains versus its American counterpart in Asian trading session on Wednesday amidst declines in global stock markets which were spurred by U.S. politic turmoil.

The Yen added 0.5 percent in early trade after having jump 0.6 percent on Tuesday as investors flocked into safe-haven assets. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.5 percent with Japan’s Nikkei .N225, Australia’s S&P/ASX 200 Index, South Korea’s Kospi index and Singapore’s Straits Times index all declining.

Contracts on the S&P 500 Index also found themselves in a downtrend in Asia on the back of reports that U.S. President Donald Trump asked FBI Director James Comey to end a probe into former National Security Adviser Michael Flynn. The U.S. equities and the greenback had already been in negative territory after a report alleging the president to share terrorism intelligence with Russian officials.

Trade suggestion

Sell Stop at 112.400, Take profit 112.000, Stop loss at 112.600

 

[CSFX.Support]

AUD/JPY signal by Capital Street FX

AUD/JPY signal by Capital Street FX

From GMT 15:00 17/05/2017
Till GMT 21:00 17/05/2017

Sell at 82.700
Take profit at 82.000
Stop loss at 83.000

 

[CSFX.Support]

Daily Report on May 18, 2017 by Capital Street FX

Daily Report on May 18, 2017



Asian shares slumped on Thursday after U.S. equities plunged by the most since September on Wednesday. S&P 500 Index plummeted by S&P 500 Index – its worst daily loss since September 9th - in the last session. Meanwhile, the Dow Jones Industrial Average lost 372.82 points and the Nasdaq Composite Index dropped 2.6 percent, marking its sharpest decline since June 24th.

The MSCI Asia Pacific Index experienced the biggest one-day drop since April 6th, shedding 0.8% on Thursday. Japan’s Topix led losses in the region, slumping 1.5 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi Index lost 1.3 percent and 0.5 percent, respectively while Hong Kong’s Hang Seng Index and Hang Seng China Enterprises Index also found themselves in the red.

According to report released by the Australian Bureau of Statistics earlier on the day, the country’s jobless rate fell to its lowest in four months in April. Indeed, the unemployment rate dropped to 5.7 percent, well below analysts' expectations for a steady 5.9 percent. However, the number of people with full-time work declined by 11,600.

Crude oil price were struggling for direction on Thursday. The U.S. Energy Information Administration on Wednesday reported domestic crude inventories plunged by 1.8 million barrels to 520.8 million barrels for the week to May 12.



Technicals

AUDCAD


With upward support from a couple of MAs, AUDCAD surged steeply to surpass the 23.6% Fibonacci retracement. After a sharp rise, the pair fell into a correction. However, RSI has inched to as high as 62.57, suggesting a strong uptrend in the market. A resistance at 1.02000 is within the sight.

Trade suggestion

Buy Stop at 1.01600, Take profit at 1.02000, Stop loss at 1.01400



GBPCHF


GBPCHF has been moving in a narrow range around a support at 1.27000 – the level that forced the pair to reverse higher earlier this week and on April 21st. This seems a strong support. Nevertheless, the market has been overwhelmed in bearish momentum, which may send the price to as low as 23.6% Fibonacci level.

Trade suggestion

Sell Stop at 1.26800, Take profit at 1.26200, Stop loss at 1.27100



SILVER


Silver retreated from a firm resistance at 17.000 and sent its price action below both long-term and short-term MAs. The RSI index fell below the 50 line for the first time since last week, indicating a strong downtrend. Silver may fall as low as 61.8% Fibonacci level.

Trade suggestion

Sell Stop at 16.740, Take profit at 16.600, Stop loss at 16.800



EURO 50

EURO 50 index plunged sharply, breaking out of a period of moving sideways around the level 3640.00. The short-term MA20 has converged with the short-term MA50 from above, suggesting a reversal into a downtrend. ADX index is soaring with a sharp rise from –DI line. In the event of continual downtrend, the stock benchmark may test a support at 3505.00.

Trade suggestion

Sell Stop at 3550.00, Take profit at 3505.00, Stop loss at 3570.00

 

[CSFX.Support]

GBPUSD Trade Idea by Capital Street FX

Sterling Jumps More than 0.4% After U.K. Retail Sales Data Release

British Pound advanced nearly 0.45 percent versus the U.S. dollar in morning session on Thursday after data showed U.K. retail sales rebounded in April.

The currency pair GBPUSD jumped higher to trade around 1.30300 – the highest level since September 30th, 2016 after a monthly report released by the Office for National Statistics showed U.K. retail sales grew by 2.3% on the month in April. This was not only a reversal from a steep quarterly decline in the first three months of the year but also well above the 1.5% growth expected by economists.

On a yearly basis, sale jumped 4.0%, also significantly more than analysts’ expectations calling for a growth rate of 2.3%. According to the reports, sales was boosted by warm weather that encouraged shoppers to purchase gardening tools and home improvements.

Trade suggestion

Buy Stop at 1.30300, Take profit 1.30700, Stop loss at 1.30100

 

[CSFX.Support]

Cisco Trade Idea by Capital Street FX

Cisco Shares Nose-Dive after Forecast Points to A Decline in Current Quarter Revenue

Shares of Cisco Systems Inc. plunged nearly 7.7 percent in after-hours trading on Wednesday after the technology conglomerate said it would cut more jobs and forecast current-quarter revenue to decline at a faster rate.

The California-based networking giant reported net income of $2.52 billion, or 50 cents a share, on sales of $11.94 billion. Adjusted for one-time items, Cisco claimed earnings of 60 cents a share. Analysts had expected adjusted earnings of 58 cents a share on sales of $11.9 billion.

After having lost 1% in revenue last quarter, Cisco expects revenue for the current quarter to drop by 4% to 6% on a yearly basis to fall in a range between $11.9 billion to $12.1 billion. This is well below market’s expectation for a sales total of $12.5 billion on average.

Cisco also plans to cut 1,100 more jobs after having announced to slash a total of 5,500 last August.

Trade suggestion

Sell Stop at 31.20, Take profit 30.50, Stop loss at 31.50

 

[CSFX.Support]

AUD/CAD signal by Capital Street FX

From GMT 17:20 18/05/2017
Till GMT 21:00 18/05/2017

Sell at 1.01000
Take profit at 1.00500
Stop loss at 1.01200

 

[CSFX.Support]

Daily Report on May 19, 2017 by Capital Street FX

Daily Report on May 19, 2017



Asian shares were mostly lower on Friday with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.1 percent, on track for a weekly loss of 0.5 percent. Japanese stocks reversed early gains to head back into a negative territory after having dropped 1.3 percent on Thursday, extending declines for the week to 1.8 percent.

The yen rose 0.3 percent versus dollar to trade around 111.20 following a decline of 0.6 percent on Thursday. The Japanese currency looked set to close the week nearly 2 percent higher – the strongest weekly performance in a month.

While Australia’s S&P/ASX 200 Index dropped 0.3 percent, South Korea’s Kospi was struggling for direction, up less than 0.1 percent. Chinese shares advanced with the Shanghai Composite adding 0.1 percent, up 0.4 percent for the week. Hong Kong's Hang Seng inched 0.2 percent higher, set for a weekly rise of 0.1 percent.

Crude prices rose on Friday, extending their gains for the third straight session amidst optimism that major producers will agree to cut production further to encounter with current global glut. After talks with his Russian counterpart, Alexander Novak, Algerian Energy Minister Noureddine Boutarfa on Thursday said that “Most of the countries support the proposition of Russia and Saudi Arabia to extend,”.



Technicals

USDMXN


USDMXN reversed lower after having failed to retest a significant level at 19.25000. The pair has dropped to as low as 18.77072 with the price action falling below both short-term and long-term MAs. RSI has also moved past the 50 line, supporting the downtrend.

Trade suggestion

Sell Stop at 18.77000, Take profit at 18.60000, Stop loss at 18.87000



EURUSD


As can be seen from the price chart, the pair EURUSD has been supported by the short-term MA20. The currency pair is expected to extend their upward rally to retest a resistance at 1.11700 – the highest level since early November 2016, recorded on Thursday.

Trade suggestion

Buy Stop at 1.11200, Take profit at 1.11700, Stop loss at 1.11000



BRENT

Brent crude prices have breached a strong resistance at 52.60 after a short consolidation below this level. The commodity prices have been supported by two MAs lingering below the price action. The bull is dominating in the market, as indicated by RSI index. Further advances may send the price to as high as 54.00.

Trade suggestion

Buy Stop at 53.00, Take profit at 54.00, Stop loss at 52.50



SILVER

Silver soared higher following a correction below the short-term MA20. The price action crossed over the short-term MA20 from below, suggesting a strong uptrend. However, with the long-term MA50 hanging above, the metal may face a strong resistance. The level at 16.800 is within the sight.

Trade suggestion

Buy Stop at 16.700, Take profit at 16.800, Stop loss at 16.650

 

[CSFX.Support]

Gap Trade Idea by Capital Street FX

Gap Shares Jump 4% On the back of Solid Same-store Sales

Shares of Gap Inc. jumped more than 4 percent in Thursday’s extended session following the company’s quarterly report that showed better-than-expected results.

The clothing and accessories retailer posted first-quarter earnings of $143 million, or 36 cents a share, up from $127 million, or 32 cents a share, a year earlier.

While revenue was reported to be flat at $3.44 billion, same-store sales, which were led by an 8% jump in same-store sales at Old Navy, rose 2% in the three-month period to April. Analysts had expected earnings of 29 cents a share on revenue of $3.39 billion.

Gap reaffirmed its 2017 EPS outlook of $1.95 to $2.05, which was in line with Wall Street’s forecast for full year EPS of $1.99.

Trade suggestion

Buy Stop at 24.20, Take profit 25.00, Stop loss at 23.80

 

[CSFX.Support]

CAD/JPY signal by Capital Street FX
From GMT 14:30 19/05/2017
Till GMT 21:00 19/05/2017
Buy at 82.200
Take profit at 82.600
Stop loss at 82.000


USD/CAD signal by Capital Street FX
From GMT 17:00 19/05/2017
Till GMT 21:00 19/05/2017
Sell at 1.35400
Take profit at 1.35000
Stop loss at 1.35600

 

[CSFX.Support]

Daily Report on May 22, 2017 by Capital Street FX

Daily Report on May 22, 2017



Asian shares advanced on Monday, supported by a rise in stocks of energy and mining producers as raw materials jumped higher. MSCI's broadest index of Asia-Pacific shares outside Japan added nearly 0.5 percent, helped by gains in Australia’s and Hong Kong’s equities.

Particularly, Australia’s S&P/ASX 200 Index surged by 0.8 percent while Japan’s Topix index rose 0.4 percent and South Korea’s Kospi index advanced 0.3 percent. Meanwhile, Hong Kong’s Hang Seng soared 0.8 percent, the Hang Seng China Enterprises Index climbed 0.9 percent and the Shanghai Composite added 0.2 percent.

The Pound gapped down against most of its peers in early Asian trade on Monday due to the fact that the U.K. threatened to exit talks on its departure from Europe unless the bloc discard its demands for a divorce payment as high as 100 billion euros ($112 billion). EU ministers will meet in Brussels on Monday to discuss further about the Brexit negotiation.

U.S. crude oil futures prices gapped up on Monday thanks to expectations that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, including Russia, would be extended by nine months to March 2018. The option of deepening the production cut to tighten the market and prop up prices was also being discussed ahead of a meeting of OPEC and its allies in Vienna on Thursday.

At a news conference in Riyadh on Sunday, Saudi Arabia’s energy minister Al-Falih said that “We believe that continuation with the same level of cuts, plus potentially adding one or two small producers if they wish to join, will be more than adequate to bring the balances to where they need to be by the first quarter of 2018,”



Technicals

USDCAD


USDCAD reversed lower after having failed to cross over a resistance at 1.35400. With downward pressure from two MAs, the pair is expected to inch lower. While RSI has been sliding, the ADX index is heading upwards, confirming further downbeat moves.

Trade suggestion

Sell Stop at 1.35200, Take profit at 1.34600, Stop loss at 1.35500



NZDJPY


NZDJPY has breached the short-term MA20 after moving past a level at 77.000. The pair has fallen into a trading range between a support at 77.000 and a resistance at 77.900. With RSI indicating that the market has entered the bullish zone, the price is expect to test the upper boundary.

Trade suggestion

Buy Stop at 77.400, Take profit at 77.900, Stop loss at 77.200



BRENT


Brent crude has been tracing a strong uptrend that has sent the price to the highest level since April 19th. Recent consistent up moves brought the market into an overbought zone, as indicate by the RSI index which has jumped as high as 76.59. However, ADX keeps rising, coupled with a widening gap between +DI and –DI lines, suggesting further advances.

Trade suggestion

Buy Stop at 54.10, Take profit at 55.00, Stop loss at 53.70



Natural Gas

Natural gas gapped up on Monday and has been trading around a resistance at 3.375. The price action has officially crossed over a couple of MAs and looked set to test a significantly important level at 61.8% Fibonacci retracement at 3.410.

Trade suggestion

Buy Stop at 3.380, Take profit at 3.410, Stop loss at 3.365

 

[CSFX.Support]

FTSE 100 Trade Idea by Capital Street FX

Supported by Energy and Mining Shares, U.K. Stocks Jump to Near All-time Record High

U.K. stocks rose on Monday on the back of a rise in energy and mining shares. A weak British Pound also supported the country’s equities to march higher after a fourth weekly gain last week.

The FTSE 100 index added 0.3 percent in the first session of the new week following a rise of 0.5 percent in the week ending on May 19th.

A jump in crude oil prices ahead of this week’s OPEC meeting to discuss further production cut boosted shares of oil producers. Indeed, stocks of BP PLC climbed 0.6% while those of Royal Dutch Shell PLC advanced by 0.3 percent.

Mining shares also rose with shares of Anglo American PLC up more than 0.8 percent. Fresnillo PLC and Randgold Resources PLC witnessed their stocks increase 0.88 percent and 0.68 percent, respectively.

Trade suggestion

Buy Stop at 7500.00, Take profit 7530.00, Stop loss at 7485.00

 

[CSFX.Support]

Crude Trade Idea by Capital Street FX

Crude Prices Rise Amidst Expectations over Extended and Deepened OPEC-led Supply Curb

U.S. crude oil futures prices gapped up on Monday, supported by speculation that an OPEC-led supply cut to crude supplies will be extended further in a meeting held later this week.

U.S. West Texas Intermediate (WTI) crude futures jumped above $50 per barrel, adding 0.6 percent thanks to expectations that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, including Russia, would be extended by nine months to March 2018.

The option of deepening the production cut to tighten the market and prop up prices was also being discussed ahead of a meeting of OPEC and its allies in Vienna on Thursday.

At a news conference in Riyadh on Sunday, Saudi Arabia’s energy minister Al-Falih said that “We believe that continuation with the same level of cuts, plus potentially adding one or two small producers if they wish to join, will be more than adequate to bring the balances to where they need to be by the first quarter of 2018,”

Trade suggestion

Buy Stop at 50.90, Take profit 51.70, Stop loss at 50.50

 

[CSFX.Support]

AUD/NZD signal by Capital Street FX

AUD/NZD signal by Capital Street FX

From GMT 16:30 22/05/2017
Till GMT 21:00 22/05/2017

Sell at 1.06900
Take profit at 1.06500
Stop loss at 1.07100

 

[CSFX.Support]

Daily Report on May 23, 2017 by Capital Street FX

Daily Report on May 23, 2017



Asian shares were mixed on Tuesday with Japanese equities flat, struggling to find direction. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent to march nearer its highest level since June 2015. While Japan’s Topix swung between gains and losses, Australia’s S&P/ASX 200 Index slipped 0.2 percent and South Korea’s Kospi rose 0.9 percent to an all-time high.

Whereas Hong Kong’s Hang Seng climbed 0.3 percent, the Shanghai Composite Index lost 0.1 percent. S&P 500 futures lost ground on the back of a Washington Post’s report saying Donald Trump asked intelligence chiefs to publicly deny any collusion between his campaign and Russia.

Euro held gains on Tuesday, extending its rally made after German Chancellor Angela Merkel said in Berlin during a school visit on Monday that “The euro is too weak”. Part of the blame goes to European Central Bank monetary policy which caused German products to be cheap in relative terms.

By contrast, Sterling extended losses on Tuesday following a suspected terrorist attack that killed at least 19 people and wounded 50 at a pop concert in the English city of Manchester. The blast came two months after a lone attacker left five people dead outside the Houses of Parliament in London.



Technicals

EURNZD


EURNZD has been on a steady downtrend which has sent the price action below both short-term and long-term MAs, which suggests strong down moves. While RSI is heading downwards, ADX is soaring, signaling further declines. A support at 1.58700 is within the sight.

Trade suggestion

Sell Stop at 1.59700, Take profit at 1.58700, Stop loss at 1.60200



BRENT


Brent crude has been trading sideways to lower and is facing a dynamic support at the long-term HMA50. The Brent crude market has entered the bearish zone, as indicated by RSI index which has fallen as low as 42.11. In the event of continual downtrend, the price may test a support at 52.60.

Trade suggestion

Sell Stop at 53.40, Take profit at 52.60, Stop loss at 53.80



GOLD


Gold price has been struggling around a firm resistance at 1261.00 - the level it failed to cross over on May 18th. The precious metal is likely to inch higher with support from the short-term MA20 and may attempt another strong resistance at 1270.00. Both RSI and ADX are rising, confirming the uptrend.

Trade suggestion

Buy Stop at 1264.00, Take profit at 1270.00, Stop loss at 1261.00



EURO 50


As can be seen from the price chart, the index failed to breach a firm resistance at 3590.00 – the level it had to reverse lower nearly one month ago. The stock benchmark gapped down in early trade and may fall lower to test a support at 3525.00 with downward pressure from two MAs.

Trade suggestion

Sell Stop at 3570.00, Take profit at 3525.00, Stop loss at 3585.00

 

[CSFX.Support]

Trade signals by Capital Street FX

GBP/NZD signal by Capital Street FX
From GMT 04:00 23/05/2017
Till GMT 21:00 23/05/2017
Sell at 1.85200
Take profit at 1.84400
Stop loss at 1.85500


USD/JPY signal by Capital Street FX
From GMT 16:45 23/05/2017
Till GMT 21:00 23/05/2017
Buy at 111.700
Take profit at 112.200
Stop loss at 111.500

 

[CSFX.Support]

Daily Report on May 24, 2017 by Capital Street FX

Daily Report on May 24, 2017



Asian shares slipped on Wednesday, led by losses in Chinese stocks after Moody’s Investors Service cut its rating on China’s debt and said the outlook for the country’s financial strength would worsen. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.2 percent with the Shanghai Composite Index heading towards the lowest closing level since October. The Shanghai Composite dropped 0.4 percent while the Hang Seng shed 0.1 percent.

Meanwhile, Japan’s Topix index advanced by 0.5 percent, retreating after 0.5 percent and South Korea’s Kospi index increased 0.2 percent. Australia’s S&P/ASX 200 Index was little changed while Australian dollar slipped following Moody's announcement downgrading China to A1 from Aa3. The currency plunged by nearly 0.5 percent to trade at as low as $0.74.

In a statement released on Tuesday, Moody's said “The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows.”

According to the American Petroleum Institute (API), U.S. crude oil inventories fell a less-than-expected 1.5 million barrels to 512.9 million barrels at the end of last week. Analysts expected crude inventories to drop by 2.733 million barrels. The Energy Information Administration (EIA) is scheduled to publish its data later on the day.



Technicals

GBPNZD


GBPNZD reversed lower following a period of correction that came after a sharp downtrend. RSI retreated and is heading downwards, indicating a strengthening downtrend. With two MAs hanging above the price action, the pair looks set to retest a support at 1.84000.

Trade suggestion

Sell Stop at 1.85000, Take profit at 1.84000, Stop loss at 1.85500



CADJPY


CADJPY rebounded from a support at 82.600, supported by the long-term MA50. Buyers seem to jump back into the market and may push the price higher, as indicated by RSI index which reversed higher towards an overbought zone. A resistance at 83.300 is within the sight.

Trade suggestion

Buy Stop at 82.800, Take profit at 83.300, Stop loss at 82.600



Natural gas


Natural gas has fallen into a consolidation after a steep down move on Tuesday. The commodity is likely to extend its downtrend with the long-term MA50 crossing over the short-term MA20 from above. In the event of continual downtrend, natural gas price may retest a significant support at 50.0% Fibonacci retracement.

Trade suggestion

Sell Stop at 3.315, Take profit at 3.260, Stop loss at 3.340



WTI


U.S. crude price has been trading sideways to higher with support from two MAs lingering below the price action. Unclear trend in the market sent the ADX index but RSI index keep marching higher, suggesting a dominating bullish force. A widening gap between +DI and –DI lines signals further advances.

Trade suggestion

Buy Stop at 51.70, Take profit at 52.40, Stop loss at 51.30

 

[CSFX.Support]

Intuit Trade Idea by Capital Street FX

Shares of Intuit Soar Sharply Following Upbeat Earnings Report and Rosy Outlook

Shares of Intuit Inc. soared considerably more than 9 percent in extended session on Tuesday after the software company reported better-than-expected earnings and forecast an upbeat outlook for the current quarter.

Intuit posted third-quarter earnings of $964 million or $3.70 a share, down from $1.03 billion or $3.94 a share, recorded a year earlier. Adjusted for one-time items, earnings per share came in at $3.90 a share.

Revenue was reported to jump to $2.54 billion from $2.3 billion, topping analysts’ forecast for earnings of $3.87 a share on revenue of $2.5 billion.

The company anticipated fourth-quarter revenue to fall in a range between $795 million and $815 million while adjusted earnings per share to reach 16 cents to 18 cents. Forecast are ahead of Wall Street’s estimates.

Trade suggestion

Buy Stop at 141.00, Take profit 143.00, Stop loss at 140.00

 

[CSFX.Support]

AUD/USD signal by Capital Street FX
From GMT 08:30 24/05/2017
Till GMT 21:00 24/05/2017
Buy at 0.74750
Take profit at 0.75150
Stop loss at 0.74550


CAD/JPY signal by Capital Street FX
From GMT 16:40 24/05/2017
Till GMT 21:00 24/05/2017
Buy at 83.300
Take profit at 83.700
Stop loss at 83.100