Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

Daily Report on June 26, 2017 by Capital Street FX

Daily Report on June 26, 2017



Asian shares advanced on Monday thanks to the fact ​ that technology stocks continued to edge higher while oil climbed for a third straight day in a row after rebounding from a bear market last week. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 percent with technology shares experiencing the biggest advance in the index.

While Japan's Nikkei index and Topix index both​ rose 0.1 percent, South Korea’s Kospi jumped 0.4 percent and Australia’s S&P/ASX 200 Index climbed less than 0.1 percent. Hong Kong’s Hang Seng Index​ was​ also​ on a rise, jumping 0.4 percent. However, Hang Seng China Enterprises Index and Shanghai Composite Index climbed even more, gaining 0.7 percent and 0.5 percent, respectively.

Markets in India, Malaysia, Indonesia, Philippines, Singapore and Bangladesh are closed​ on​ Monday for​ holidays to celebrate the end of Ramadan.

The U.S. dollar remained weak against its major peers on Monday, weighed​ down by fading expectations for the Federal Reserve to raise interest rates higher in the second half of this year.​ The U.S. dollar index, which tracks the strength of the greenback against a basket of six major currencies, was a fraction lower on Monday after having shed 0.4% in the previous session.

Crude oil futures prices jumped more than 1 percent in early trade as investors covered short positions after oil dipped into the bear market last week. While Brent crude futures added 1.1 percent to trade at $46.04 per barrel, U.S. West Texas Intermediate (WTI) crude futures gained 1.0 percent, at $43.45 per barrel.​

However, concerns over a global supply glut will persist due to another rise in U.S. drilling activity. According to data from energy services firm Baker Hughes Inc. late Friday, U.S. energy firms added 11 oil rigs in the week to June 23, bringing the total count up to 758, the most since April 2014.



Technicals​

GBPUSD



GBPUSD fell into a consolidation after a small gap up on Monday. The currency pair sustained its bullish momentum to trade above a couple of MAs which it crossed​ over last Friday. Although ADX retreated, RSI is still at high level, indicating a dominating bull in the market. A resistance at 1.28000 is expected to be tested.

Trade suggestion

Buy Stop at​ 1.27500, Take profit at​ 1.28000, Stop loss at​ 1.27300



GOLD


Gold reversed lower from as high as $1258.00 an ounce – a strong resistance at which the precious metal had to retreat on June 23rd. The price has also dropped below both a firm support at 23.6% Fibonacci level and a dynamic support at the short-term MA20. Gold is struggling at the long-term MA50. However, further declines are expected as RSI has edged down to as low as 45.19 while ADX is heading higher with a widening gap between the –DI and +DI lines.​

Trade suggestion

Sell​ Stop at​ 1253.00, Take profit at​ 1248.00, Stop loss at​ 1255.00



Natural Gas



Natural gas futures prices witnessed a sharp gap up on Monday which brought the price to the highest level since mid-June. The price action has also broken out of not only a period of moving sideways above a support at 2.8830 but also a couple of MAs. Both RSI and ADX are rising, signaling further advances. A resistance at 38.2% Fibonacci retracement is within the sight.

Trade suggestion

Buy Stop at​ 2.9950, Take profit at​ 3.0550, Stop loss at​ 2.9650



NASDAQ 100 Index



U.S. NASDAQ index has surpassed a firm resistance at 5800.00. This level not only forced the price to reverse lower on June 22nd​ but also pushed the index into a consolidation in late May. With support from two MAs which are lingering below the price action, the stock index is expected to edge higher. Rising ADX and RSI indices are confirming the uptrend.

Trade suggestion

Buy Stop at​ 5820.00, Take profit at​ 5880.00, Stop loss at​ 5790.00

 

[CSFX.Support]

Trade Signals by Capital Street FX

FTSE 100 Index Soars Thanks to A Rebound in Oil Prices and Weak Sterling


U.K. shares jumped steeply on Monday on the back of a rebound in oil prices which boosted stocks of energy companies and mining companies higher while British Pound reversed lower against most of its peers.

The FTSE 100 index added more than 0.6 percent on the first trading session of the week to trade around 7475.00 after having closed at its lowest level since June 15 on Friday.

Shares of energy companies led the overall performance as crude oil prices continued to rebound after a recent selloff. Crude oil futures benchmarks added more than 1 percent, spurring gains in shares of Royal Dutch Shell PLC and BP., which gained 0.5% each.

Shares of mining companies also traded in positive territory. Indeed, equities of Glencore PLC soared 1.07% while those of Rio Tinto PLC and BHP Billiton PLC jumped 0.84% and 1.01%, respectively.

Meanwhile, Sterling lost nearly 0.1 percent after having climbed to one-week high in early trade. According to market sources, investors were waiting for the meeting between the leader of Northern Ireland’s Democratic Unionist Party (DUP), Arlene Foster, and Theresa May, which is expected to help the Prime Minister to form a government with the support of the DUP.

Trade suggestion

Buy Stop at 7475.00, Take profit at 7530.00, Stop loss at 7450.00



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EUR/NZD

From GMT 15:50 26/06/2017
Till GMT 21:00 26/06/2017
Sell at 1.53250
Take profit at 1.52200
Stop loss at 1.53750

**********************************

NZD/JPY

From GMT 16:40 26/06/2017
Till GMT 21:00 26/06/2017
Buy at 81.500
Take profit at 81.900
Stop loss at 81.300

 

[CSFX.Support]

Trade Signals by Capital Street FX

Daily Report on June 27, 2017



Asian shares were mostly higher on Tuesday with Japanese stocks spurred by a weaker yen. MSCI's broadest index of Asia-Pacific shares outside Japan stood little changed but Japanese stocks edged towards two-year highs on Tuesday. While Japan’s Topix was up for a third day, Japan's benchmark Nikkei added 0.3 percent as the yen held on losses versus the U.S. dollar.

With exporters benefiting from dollar strength, Japan’s Topix climbed 0.5 percent, poised for the highest closing level since August 2015. Singapore’s Straits Times Index jumped 0.4 percent and South Korea’s Kospi gained 0.3 percent. Hong Kong’s Hang Seng was also on a rise, adding 0.1 percent. By contrast, Australia’s S&P/ASX 200 Index slipped 0.1 percent and the Shanghai Composite Index retreated 0.1 percent.

Crude oil futures extended gains to a fourth consecutive session on Tuesday. Indeed, while U.S. West Texas Intermediate (WTI) crude futures edged 0.3 percent higher to trade at $43.50 per barrel, Brent crude futures also advanced 0.3 percent to trade around $45.97 per barrel in Asian trading session.

Later in the day, Federal Reserve Chair Janet Yellen is scheduled to make public appearance at the British Academy's 2017 President's Lecture in London while the European Central Bank’s forum will continue in Portugal. Clues on changes in policies of major central banks are highly awaited by investors.



Technicals

AUDJPY



Australian dollar extended its rally versus the Japanese Yen to a third trading day in a row. Recent up moves not only brought the pair above the 23.6% Fibonacci retracement but also sent the price to a two-and-a-half-month high at 85.050 logged on June 20th. Both RSI and ADX indices are witnessing sharp up moves, indicating a strong bullish momentum in the market.

Trade suggestion

Buy Stop at 85.050, Take profit at 85.500, Stop loss at 84.800



NZDUSD



As supported by a couple of MAs which are moving below the price action, the pair NZDUSD continued to trace an uptrend which has been dominating the market for four trading sessions in a row. The pair retested a high at 0.73050 and is likely to soar to the highest level since February 07th with both RSI and ADX indices on a rise.

Trade suggestion

Buy Stop at 0.73100, Take profit at 0.73500, Stop loss at 0.72900



Natural Gas


After a wide gap up in early trade on Monday, natural gas price fell into a correction but soon sustained its bullish momentum to jump to as high as 38.2% Fibonacci retracement and send the market into the overbought. This level proved to be a firm resistance where the price had to reverse lower. However, the price is expected to edge higher to test another firm resistance at 3.0800.

Trade suggestion

Buy Stop at 3.0400, Take profit at 3.0800, Stop loss at 3.0200



COPPER


As can be seen from the price chart, copper has been trading sideways as the price fell into a consolidation after a sharp rise which helped the metal to test a significant level at 23.6% Fib. The price, however, has still been supported by the short-term MA20 and is anticipated to test the 23.6% Fib level again.

Trade suggestion

Buy Stop at 1.6200, Take profit at 1.6500, Stop loss at 1.6000



DAX 30 Index


Germany’s DAX 30 index once again had to retreat from a firm resistance at 12840.00 and is struggling with a couple of MAs. RSI index has fallen below 50, suggesting that the market has entered the bearish territory. Further declines may cause the stock benchmark index to retest the lower boundary.

Trade suggestion

Sell Stop at 12750.00, Take profit at 12700.00, Stop loss at 12775.00


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Canadian Dollar Hits Two-month Highs Versus the Greenback as Crude Oil Jumps

Canadian dollar shot versus its American counterpart on Tuesday amidst rising crude oil prices while the greenback fell broadly against most of its peers, especially the Euro.

The commodity-linked currency Canadian dollar jumped to a two-week high at C$1.31850 per dollar, adding more than 0.4 percent on Tuesday as crude oil futures prices were on track for its fourth gain in a row. Indeed, while August West Texas Intermediate crude soared 2.3 percent, the Brent oil for August delivery climbed 2.6 percent in North American trading session.

The advance came on the back of forecasts anticipating that U.S. crude supplies would witness a weekly decline due to weather factors. The American Petroleum Institute is due to release its estimate for U.S. inventories later in the day while the U.S. Energy Information Administration is scheduled to publish the official data on Wednesday.

While the Loonie was supported by gains in crude oil prices, the dollar lost ground against most of its rivals. The Dollar Index, which measures of the strength of the greenback against a basket of six major rivals, shed more than 0.6% with the euro holding the largest weighting in the gauge.

Trade suggestion

Sell Stop at 1.31800, Take profit at 1.31400, Stop loss at 1.32000



***************************************************

Euro Jumps to Two-week Highs Versus Dollar Following Draghi’s Speech

The Euro experienced a sharp rise versus its American counterpart on Tuesday after European Central Bank President Mario Draghi claimed that growth is above trend and well distributed across the euro area.

The currency pair EURUSD jumped steeply more than 0.6 percent on Tuesday to reach a high of 1.12500 – the highest level since June 14th as the Euro was pushed higher by Draghi’s speech.

Speaking at the ECB’s central banking forum in Portugal, the ECB President argued that the central bank’s stimulus policies with negative interest rates had helped create jobs and reduce inequality in the euro zone, especially in Southern European countries where youth unemployment rates reach up to 45%.

Draghi also showed optimism over the euro zone’s economy, saying that there are clear signs of a “strengthening and broadening” recovery and those deflationary factors, which were weighing on the path of inflation, will soon be replaced by inflationary ones.

Later in the day, Federal Reserve Chair Janet Yellen is scheduled to make public appearance at the British Academy’s 2017 President’s Lecture in London. Traders will be looking for clues on changes in policy of the U.S. central bank given Yellen’s opinion on the U.S. economy after a recent batch of weak economic reports.

Besides Fed Chair Yellen, a pair of Fed policymakers are due to make public appearances on Tuesday which are Philadelphia Fed President Patrick Harker and Minneapolis Fed Chief Neel Kashkari.

Trade suggestion

Buy Stop at 1.12500, Take profit at 1.12900, Stop loss at 1.12300



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GBP/JPY
FromGMT 14:35 27/06/2017
TillGMT 21:00 27/06/2017
Buy 143.100
Buy at 143.100
Take profit at 143.900
Stop loss at 142.700

 

[CSFX.Support]

Trade Signals by Capital Street FX

Daily Report on June 28, 2017



Asian shares were broadly lower on Wednesday, weighed down by losses in technology stocks. A slump in U.S. equities extended in Asian trading session, sending the MSCI's broadest index of Asia-Pacific shares outside Japan down 0.4 percent. Japan's Nikkei share average slipped 0.3 percent.

On Tuesday, the S&P 500 Index shed 0.8 percent - the most since May 17 while the NASDAQ Composite index lost 1.61% and the Dow Jones Industrial Average plunged by 0.46%. Shares of Alphabet were among top losers, shedding more than 2% after Google had been fined a record $2.7 billion by the EU for having violated antitrust rules. Shares of Facebook, Netflix, and Amazon closed more than 1.5% lower.

Meanwhile, the dollar lost ground versus most of its rivals amidst rising concerns over Trump administration following through with tax cuts and fiscal stimulus steps after the healthcare bill faced resistance from some of Republican senators and failed to be passed on Tuesday. The dollar index, which measures the greenback against a basket of six major currencies, lost more than 0.1 percent at 96.35, after shedding about 1 percent on Tuesday.

Crude oil futures prices extended their upward rally to a fifth session in a row, reversing higher from losses in early trade which came after a report by the American Petroleum Institute. The data which was released on Tuesday showed that U.S. crude inventories rose by 851,000 barrels in the week to June 23 to 509.5 million. By contrast, analysts expected a decrease of 2.6 million barrels.



Technicals

USDCHF



Under downward pressure from two MAs which are hanging above the price action, the pair USDCHF nose-dived on Tuesday and extended its down moves on Wednesday. The pair did not only break a firm support at 0.96700 but also fell below the seven-month lows at 0.96128 logged early June. Further declines are expected with a surging ADX index and RSI index plunging into the oversold zone.

Trade suggestion

Sell Stop at 0.96000, Take profit at 0.95500, Stop loss at 0.96200



EURGBP



The pair EURGBP has been tracing an uptrend with the support from both long-term MA50 and short-term MA20 which are lingering below the price action. The pair is facing a strong resistance at 0.88600 where it had to give up its bull run to reverse lower on June 12th. However, this stance is expected to be crossed over as buyers are dominating in the market, as indicated by rising ADX and RSI indices.

Trade suggestion

Buy Stop at 0.88600, Take profit at 0.89000, Stop loss at 0.88400



EURJPY



Euro jumped to the highest level since early April, 2016 after having broken out of a slopping downward trading range and crossed over a significant level at 50.0% Fibonacci retracement. The pair is struggling at a resistance at 127.300 after sending the market into the overbought zone. Nonetheless, the uptrend is anticipated to be extended, as can be seen in the ADX chart, the gap between +DI and –DI lines is widening.

Trade suggestion

Buy Stop at 127.400, Take profit at 128.200, Stop loss at 127.000



SP500



Sp500 index fell out of an uptrend on Tuesday when it broke out of an upward trend line which connects higher lows. The U.S. stock benchmark index dropped below a couple of MAs and fell to as low as 2420.00 – a firm support that has forced the index to reverse higher three times since June 09th. In the event of continual downtrend, another support at 2405.00 is within the sight.

Trade suggestion

Sell Stop at 2418.00, Take profit at 2405.00, Stop loss at 1225.00



DAX


Germany’s DAX 30 suffered a sharp daily loss on Tuesday. Steep down moves liberated the price action out of a slopping upward trading range which contained higher highs and higher lows. The index’s price action broke the lower boundary from below and is heading towards a support at 12500.00. While RSI is pointing downwards, ADX index is edging higher, indicating a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 12590.00, Take profit at 12500.00, Stop loss at 12630.00



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WTI Crude Oil Extends the Upward Rally to A Fifth Session Following EIA Data

U.S. crude oil prices extended their upward rally to a fifth session in a row on Wednesday with advances coming after a weekly report that showed U.S. domestic crude supplies rose less than previously reported by the American Petroleum Institute.

U.S. West Texas Intermediate crude for August delivery jumped more than 0.8 percent to trade around $44.60 per barrel on Wednesday after the U.S. Energy Information Administration published its official data that pointed to a rise of 100,000 barrels in U.S. crude inventories for the week ended June 23.

Although the result defied forecasts for a decline of 3.25 million barrels, it came in well below the increase of 851,000 barrels reported by the American Petroleum Institute on Tuesday.

Trade suggestion

Buy Stop at 44.60, Take profit at 45.60, Stop loss at 44.10



***************************************

Gold Rallies For A The Second Day Amidst A Slump in Stock Markets While Dollar Remains Weak

Gold futures prices jumped a the second day on Wednesday amidst selloff in equity markets while the dollar remained weak against most of its peers after U.S. Senate Majority Leader Mitch McConnell delayed voting on a bill to repeal and replace Obamacare.

Gold for August delivery added more than 0.5 percent to trade around $1,252.85 an ounce in Asian trading session as investors rushed into safe-assets after technology and health-care shares weighed down the overall performance in Wall Street and continued to drag down indices in most of Asian markets.

On Tuesday, the S&P 500 Index shed 0.8 percent – the most since May 17 while the NASDAQ Composite index lost 1.61% and the Dow Jones Industrial Average plunged by 0.46%. Shares of Alphabet were among top losers, shedding more than 2% after Google had been fined a record $2.7 billion by the EU for having violated antitrust rules.

Meanwhile, the dollar lost ground versus most of its rivals amidst rising concerns over Trump administration following through with tax cuts and fiscal stimulus steps after the healthcare bill faced resistance from some of Republican senators and failed to be passed on Tuesday.

The dollar index, which measures the greenback against a basket of six major currencies, lost more than 0.1 percent at 96.35, after shedding about 1 percent on Tuesday. A weak dollar tends to make gold more affordable to buyers using other currencies.

Trade suggestion

Buy Stop at 1253.00, Take profit at 1258.00, Stop loss at 1251.00



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CAD/JPY

From GMT 11:45 28/06/2017
Till GMT 21:00 28/06/2017

Buy at 85.700
Take profit at 86.100
Stop loss at 85.500

 

[CSFX.Support]

Trade Signals by Capital Street FX

Daily Report on July 03, 2017



Asian equity markets were mostly higher on Monday, boosted by firmness in oil prices which extended the longest winning streak of the year. With more shares advancing than declining, the MSCI Asia Pacific Index added less than 0.1 percent on Monday after having finished the second quarter with a gain of 5.2 percent.​

While​ Japan’s Topix index increased 0.3 percent​ and Hong Kong’s Hang Seng added 0.1 percent,​ South Korea’s Kospi index​ and Australia’s S&P/ASX 200 index slipped 0.3 percent and​ 0.1 percent,​ respectively. ​ The Shanghai Composite​ index​ was flat even after a private survey released on Monday showed​ China's manufacturing​ activity gauge pointed to an expansion in June.

Indeed, the Caixin/Markit Manufacturing Purchasing Managers' index (PMI) jumped to 50.4 in June, which was well above the 49.5 level forecast by analysts. The reading marked a comeback to a growth mood after dropping to 49.6 in May, the first contraction in 11 months.

Elsewhere, gauges for​ Australia's manufacturing and service sectors​ were reported to experience strong rises in June as upbeat demand encouraged more hiring and bolstered optimism over the economy’s outlook. The PMI index for manufacturing activity rose to a seasonally adjusted 56.2 in June, from 55.9 in May while the measure of services picked up to 57.0 last month, from 54.8 in May.

Crude oil prices held on gains on Monday following a seven-day rally by Friday. Data published by Baker Hughes showed U.S. oil rig count fell last week for the first time since early January. U.S. rigs drilling for oil was reported to decline by two to 756 rigs in the week ended on July 30th. This was only the second time the weekly oil-rig count fell this year.

​

Technicals​

USDJPY



The pair USDJPY gapped down at the open on Monday but failed to cross over a firm support at 38.2% Fibonacci retracement. With the support from two MAs which were lingering below the price action, the pair covered the gap and was edging higher, looking set to reach a resistance at 113.000. Both RSI and ADX indices are rising, confirming the uptrend.

Trade suggestion

Buy Stop at​ 112.600, Take profit at​ 113.000, Stop loss at​ 112.400



BRENT


Brent crude nearly hit a significant stance at 49.000 on Monday – the highest level since June 12. The market fell into a consolidation after a sharp jump sent the market into the overbought zone, as indicated by the RSI index. ADX retreated a little bit, indicating a weakening bullish momentum. However, buyers are expected to dominate the market again after taking some profits.​

Trade suggestion

Buy Stop at​ 49.000, Take profit at​ 50.000, Stop loss at​ 48.500



GOLD



Gold has been tracing a downtrend under downward pressure from two MAs hanging above the price action. The precious metal is likely to test a six-week low at $1235.00 an ounce and even may fall lower to the 38.2% Fibonacci level. While RSI is inching lower, ADX is rising with a widening gap between the –DI and +DI lines.

Trade suggestion

Sell​ Stop at​ 1237.00, Take profit at​ 1232.00, Stop loss at​ 1239.00



DAX 30 Index​



Germany’s DAX 30 index has been struggling with a support at 12366.00 since last Thursday after having fallen out of a slopping upward trading range. Following sharp down moves, the stock benchmark index fell into a consolidation. However, as can be seen from the RSI chart, the bear is dominating the market and is expected to send the price to as low as the 23.6% Fibonacci retracement.

Trade suggestion

Sell​ Stop at​ 12350.00, Take profit at​ 12240.00, Stop loss at​ 12400.00


********************************************

Stocks of Energy and Financials Rally, Encountering Losses In Tech Shares


U.S. shares were mostly higher on Monday as a rally in energy and financials covered losses in tech shares. Besides, a private index on U.S. manufacturing activity, which was reported to rise to the highest level since mid-2014, boosted optimism over the U.S. economy and sent the U.S. stock market higher.

The stock benchmark index S&P500 advanced nearly 0.6 percent with nine out of eleven sectors trading on a positive note. Energy sector led gains, soaring more than 2.3 percent on Monday on the back of firmness in crude oil prices which extended their rally to an eighth session in a row. Meanwhile, financial sector was also on a sharp rise with shares of Morgan Stanley, JPMorgan Chase, Wells Fargo and Citgroup trading higher.

By contrast, tech and utility shares lagged behind. While the former lost 0.42 percent, the latter shed 0.32 percent.

Data released by the Institute for Supply Management (ISM) showed the gauge for domestic manufacturing activity advanced to 57.8 last month from May’s reading of 54.9. Spurred by the new orders index that rose to 63.5 in June from 59.5 a month earlier, the figure did not only top analysts’ forecast for an increase to just 55.2 but also marked the fastest growth pace in almost three years.

The New York Stock Exchange will be closed on Tuesday in the observation of the Independence Day.

Trade suggestion

Buy Stop at 2437.00, Take profit at 2445.00, Stop loss at 2433.00



*********************************************

Dollar Jumps to Nearly-two-month Highs versus Yen Following Factory Data


The dollar jumped more than 0.7 percent versus the Japanese Yen on Monday after a private index on domestic manufacturing activity, which was reported to rise to the highest level since mid-2014, boosted optimism over the U.S. economy and sent the U.S. stock market higher.

The pair USDJPY rocketed 0.74 percent to trade 133.22 in North American trading session. This was the highest rate since May 16th. The greenback was supported strongly by data released by the Institute for Supply Management (ISM) which showed the gauge for domestic manufacturing activity advanced to 57.8 last month from May’s reading of 54.9.

Spurred by the new orders index that rose to 63.5 in June from 59.5 a month earlier, the figure did not only top analysts’ forecast for an increase to just 55.2 but also marked the fastest growth pace in almost three years.

Meanwhile, the so-called safe-haven currency lost its attraction as equity markets kicked off July trade on a positive note. Indeed, led by firm gains in the energy and financials sector which soared at least 1 percent, the S&P 500 index advanced nearly 0.6 percent. The Dow Jones Industrial Average index and the Nasdaq Composite Index added 0.7 percent and 0.4 percent, respectively.

The New York Stock Exchange will be closed on Tuesday in the observation of the Independence Day.

Trade suggestion

Buy Stop at 113.300, Take profit at 113.800, Stop loss at 113.100



************************************************

SILVER/


From GMT 10:00 03/07/2017
Till GMT 21:00 03/07/2017
Sell at 16.500
Take profit at 16.400
Stop loss at 16.550

*****************************************

EUR/CAD

From GMT 08:50 03/07/2017
Till GMT 21:00 03/07/2017
Sell at 1.47800
Take profit at 1.47300
Stop loss at 1.48000

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 04, 2017



Asian shares were mixed on Tuesday​ after the Dow Jones Industrial Average reached a fresh record in the NYSE on Monday but technology shares tumbled and sent the Nasdaq 100 Index down 0.9 percent. Technology shares extended their selloff in Asian trading session while stocks of banks and energy companies rallied. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent.

Japan’s Topix index reversed lower, shedding 0.2 percent after an earlier gain of as much as 0.7 percent. South Korea's KOSPI index tumbled by 0.5 percent following reports that showed North Korea had launched an missile that could land in Japanese exclusive economic zone. Hong Kong’s Hang Seng index, Hang Seng China Enterprises Index and the Shanghai Composite Index all traded in the red.

By contrast,​ Australian equities surged​ more than 1.8 percent​ as the nation’s biggest banks rebounded​ while the central bank kept the cash rate at 1.5 percent as expected by markets. The Australian dollar advanced in early trade after retail sales data.​ According to the Australian Bureau of Statistics, the country’s retail sales gained 0.6% month-on-month in May.​

Led by strong spending on household goods, the data rose for a second straight month after a rise of 1.0% in April.​ However, the Aussie​ pared earlier gains to nose-dive against most of its peers following the rate decision.

Crude oil prices​ retreated in Asian trade on Tuesday,​ putting a break on a run of eight straight days of gains.​ Both Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures fell 0.5 percent.​ The retreat was supposed to be due to the fact that​ any traders closed positions ahead of the U.S. Independence Day holiday on July 4.



Technicals



EURJPY



EURJPY reversed lower after hitting the 61.8% Fibonacci retracement. The price action has crossed over the short-term MA20, suggesting a reversal into a downtrend. While RSI is pointing down, the –DI line has penetrated the +DI lines from below, confirming signals for further down moves.

Trade suggestion

Sell​ Stop at​ 128.000, Take profit at​ 127.000, Stop loss at​ 128.500



AUDCAD



As can be seen from the price chart, the pair AUDCAD has been tracing a downtrend with lower highs and lower lows formed along the way since early June. The pair has breached a strong support at 61.8% Fibonacci level. However, ADX keeps rising with a widening gap between the –DI and +DI lines, signaling further declines for the pair.

Trade suggestion

Sell​ Stop at​ 0.98900, Take profit at​ 0.98500, Stop loss at​ 0.99100



Natural Gas



Natural gas futures prices experienced a volatile trading session on Monday when the price rose as high as 3.0451 but the commodity failed to surpass a significant level at 38.2% Fibonacci retracement.​ Natural gas pared had all of its gains of this week and is struggling around a level at 2.9510. RSI remained below the 50 level, suggesting further declines.

Trade suggestion

Sell​ Stop at​ 2.9400, Take profit at​ 2.8830, Stop loss at​ 2.9650



COPPER


Copper has been tracing a downtrend after having broken out of a period of moving sideways below the level 2.7000. Under the downward pressure from two MAs hanging above the price action, copper has fallen below a support at 2.6740 and is heading towards another firm support at 2.6560. While RSI is pointing lower, ADX is on a rise, indicating a strengthening uptrend.

Trade suggestion

Sell​ Stop at​ 2.6700, Take profit at​ 2.6560, Stop loss at​ 2.6770

**********************************************

Australian Dollar Reverses Gains After the RBA Holds Rate


The Australian dollar plunged sharply on Tuesday after the latest rate decision from the Reserve Bank of Australia. The Aussie pared earlier gains to drop to the lowest level since last Wednesday versus the greenback.

The currency pair AUDUSD nose-dived more than 0.6 percent to trade around $0.7613 after Governor Philip Lowe and his board held the cash rate at record-low 1.5 percent as expected by markets, reversing steeply lower after an advance in early Asian trade.

The Aussie had risen to as high as $0.7682 on Tuesday as retail sales data beat forecast. According to the Australian Bureau of Statistics, the country’s retail sales gained 0.6% month-on-month in May. Led by strong spending on household goods, the data rose for a second straight month after a rise of 1.0% in April. The figure was also well above a 0.2% rise expected by economists.

Trade suggestion

Sell Stop at 0.76100, Take profit at 0.75700, Stop loss at 0.76300


**********************************************

EUR/AUD

From GMT 09:15 04/07/2017
Till GMT 21:00 04/07/2017
Buy at 1.49500
Take profit at 1.49950
Stop loss at 1.49300

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 05, 2017



Asian shares were mixed on Wednesday with some markets remained weak due to geopolitical concerns.​ MSCI's broadest index of Asia-Pacific shares​ outside Japan added 0.1 percent after dropping​ 0.6 percent​ in the previous session​ when North Korea fired a missile into Japanese waters.​ Supported by gains in shares of automakers and technology companies,​ Japanese and Hong Kong equities reversed early declines.

Indeed,​ Japan’s Topix index advanced 0.4 percent,​ paring​ an earlier loss​ thanks to shares of​ Subaru Corp.​ which rallied​ 3.4 percent and​ those​ Toyota Motor Corp.​ that​ jumped​ 1.4 percent. The​ Japanese​ yen​ lost ground to the dollar after early advanced. The Yen​ was up 0.2 percent to 113.11 per dollar​ after​ having climbed​ as much as 0.6 percent during Tuesday’s session.

Meanwhile, Hong Kong’s Hang Seng jumped​ 0.4 percent​ with​ Geely Automobile Holdings Ltd. rebounding​ 1.5 percent. The Hang Seng China Enterprises Index​ and the Shanghai Composite Index rose around 0.2 percent while​ Australia’s S&P/ASX 200 Index shed​ 0.4 percent after soaring 1.8 percent Tuesday. South Korea’s Kospi​ swung between gains and losses​ on Wednesday.

According to Markit data released on Wednesday,​ China's services sector grew at a slower pace in June. The PMI index edged lower to 51.6 in June from 52.8 in May due to the fact that​ new orders slumped. June’s reading was​ the second-lowest business activity level for service providers in over a year.

Meanwhile,​ activity in Japan's services sector​ was reported to​ accelerate on a monthly basis. The PMI index for Japanese service sector advanced to 53.3 in June from 53.0 in May, extending the expansion for the ninth consecutive month and reaching the highest level since August 2015.

​

Technicals

AUDJPY



AUDJPY rebounded from a support at 85.900 where it also had to give up its bearish strength​ fourth times since the second half of last week. The price action has crossed over the short-term MA20 and is facing the long-term MA50. In the event of continual uptrend, the pair may test a three-month high at 87.000.

Trade suggestion

Buy Stop at​ 86.300, Take profit at​ 87.000, Stop loss at​ 86.000



EURUSD


EURUSD has been moving sideways to lower around the level 1.13400.​ The pair is facing a dynamic support at​ the long-term MA50 after having crossed over the short-term MA20. As can be seen from the chart, the RSI index has inched down to as low as 44.57, signaling a strengthening downtrend. Further down moves are expected.

Trade suggestion

Sell​ Stop at​ 1.13400, Take profit at​ 1.12900, Stop loss at​ 1.13600



Natural Gas


Natural gas’s price action rebounded from a firm support at 2.9510 and also crossed over both the long-term and short-term MAs on Tuesday, signaling a reversal into an uptrend. The short-term MAs has converged with the long-term MA50 from below, while the RSI is edging higher, suggesting further advances for the commodity.​

Trade suggestion

Buy Stop at​ 2.9870, Take profit at​ 3.0350, Stop loss at​ 3.0100



GOLD

As can be seen from the price chart, gold futures prices failed to breach the long-term MA50 at as high as 1228.72. The precious metal fell below the short-term MA20 and may inch lower with the​ ADX index rising which indicates a strong bearish momentum in the market. A support at 1217.00 is within the sight.

Trade suggestion

Sell​ Stop at​ 1222.00, Take profit at​ 1217.00, Stop loss at​ 1224.00

*****************************************

Gold Futures Hold Near Almost-two-month Lows Ahead of Fed’s Minutes


Gold futures prices resumed their downward rally on Wednesday after an advance in the previous session. The precious metal gained ground on Tuesday on the back of reports that showed North Korea had launched a missile that could land in Japanese exclusive economic zone, but turned lower on Wednesday ahead of Fed’s minutes.

Gold futures prices for August delivery edged lower to trade at $1218.00 an ounce – the lowest level since May 11th in North American trade on Wednesday as dollar held firm. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, added 0.16% at a one-week high of 96.14.

U.S. market will reopen today after having closed for July 4th holiday. Later in the day, the Federal Reserve will release minutes of its most recent policy meeting where the central bank raised interest rates as widely expected. The minutes were expected to provide fresh clues on the likelihood of another U.S. interest rate hike this year.

Trade suggestion

Sell Stop at 1218.00, Take profit at 1213.00, Stop loss at 1220.00



******************************************************

Canadian Dollar Holds on Gains Against the Greenback On the Back of Poloz Comments


The Canadian dollar fell into a consolidation versus the greenback on Wednesday after having soared to a 10-month high of C$1.2912 to the dollar in the previous session. The Loonie received a huge support from hawkish comments of Bank of Canada Governor Stephen Poloz.

The pair USDCAD was nearly unchanged in early trade in Asian session, holding around C$1.2934 per dollar after dropping nearly 0.5 percent on Tuesday. BOC’s Governor Stephen Poloz was reported to claim that the central bank’s stimulus monetary policy should be normalized before Canada’s inflation hits BOC’s target, which was also anticipated to be well into an uptrend by the first half of 2018.

Poloz’s comments did not only spur the chance of a rate hike at the central bank’s next meeting on July 12 to above 50 percent but was also in turn with its counterparts in the Euro zone and the England (the European Central Bank and the Bank of England) which signaled future tightening in their policies last week.

U.S. market will reopen today after having closed for July 4th holiday. Later in the day, the Federal Reserve will release minutes of its most recent policy meeting where the central bank raised interest rates as widely expected.

Trade suggestion

Sell Stop at 1.29200, Take profit at 1.28600, Stop loss at 1.29500


***********************************************

EUR/GBP

From GMT 12:00 05/07/2017
Till GMT 21:00 05/07/2017
Sell at 0.87650
Take profit at 0.87250
Stop loss at 0.87850

 

[CSFX.Support]

Daily Report on July 06, 2017



Most Asian stock markets fell on Thursday with the MSCI's broadest index of Asia-Pacific shares outside Japan down 0.2 percent after U.S. stock market closed mixed in the previous session.​ A​ sharp drop in oil prices weighed down​ the energy sector​ and kept the Dow and S&P 500 near​ the unchanged mark on Wednesday. By contrast,​ gains in technology stocks lifted the Nasdaq.

Japan’s Topix edged​ 0.1 percent​ lower and South Korea’s Kospi and Singapore’s Straits Times Index shed 0.2 percent while​ Australia’s S&P/ASX 200 Index was flat.​ ​ The Shanghai Composite Index was also little changed but​ Hong Kong’s Hang Seng Index​ and the Hang Seng China Enterprises Index retreated​ 0.1 percent​ and​ 0.4 percent, respectively.

Crude oil continued to inch lower on Thursday after having tumbled about 4 percent on Wednesday. The sharp decline came after reports showed exports by the Organization of the Petroleum Exporting Countries (OPEC) rose last month. According to data released by the Thomson Reuters Oil Research, OPEC exported 25.92 million barrels per day (bpd) in June, which was 450,000 bpd above May and 1.9 million bpd more than a year earlier.

Meanwhile, data from the American Petroleum Institute (API) pointed to a drop of 5.8 million barrels in U.S. crude oil inventories in the week to June 30 to 503.7 million. Official data from the Energy Information Administration will be published later in the day.

The dollar steadied against its peers early on Thursday​ following​ the Federal Reserve’s minutes of​ the central bank's June 13-14 policy meeting. The minutes showed a widening gap in​ Fed policymakers’​ outlook for inflation and how it might affect the future pace of interest rate hikes. While several officials wanted to announce a start to the process of​ unwinding their $4.5 trillion balance sheet​ by the end of August,​ others preferred to wait until later in the year.



Technicals

EURGBP



EURGBP has been moving sideways around the level 0.87700 for more than two weeks. Under downward pressure from two MAs which has been lingering above the price action, the pair is likely to trade lower possibly to as low as 0.87250. While RSI is heading lower, ADX is mounting with a widening gap between the –DI and +DI lines.

Trade suggestion

Sell​ Stop at​ 0.87600, Take profit at​ 0.87250, Stop loss at​ 0.87750



Natural gas



Natural gas slumped on Wednesday, falling to as low as 2.8271 – the lowest level since March 08th. The commodity also tested a support at 23.6% Fibonacci retracement before falling into a correction as the sharp down move sent the market into the oversold zone. With a bear dominating the market, as indicated by the RSI that was at 34.62, natural gas may breach the Fib. level and drop to a support at 2.7800.

Trade suggestion

Sell​ Stop at​ 2.8400, Take profit at​ 2.7800, Stop loss at​ 2.8700



COPPER



As can be seen from the price chart, Copper price has been under pressure from two MAs that are hanging above the price action. The commodity may inch lower​ to surpass the 23.6% Fibonacci retracement again and to test a support at 2.6400. The RSI index has pointed down to as low as 35.95, confirming signals for further downtrend.​

Trade suggestion

Sell​ Stop at​ 2.6520, Take profit at​ 2.6400, Stop loss at​ 2.6580



FTSE 100



FTSE 100 has been trapped between a resistance at 7383.50 and​ a slopping upward trend line which connects higher lows. Two Mas are hanging below the price action, which may support the stock benchmark index to surge higher. The gain may be strained by a downtrend line that has been hanging above the price action and connecting lower highs.

Trade suggestion

Buy Stop at​ 7383.50, Take profit at​ 7415.00, Stop loss at​ 7370.00


*****************************************

Crude Oil Futures Take Off After the EIA Confirms A Sharp Decline In U.S. Supplies


Crude oil futures prices jumped sharply on Thursday, reversing higher from their worst loss in a month, after official data from the Energy Information Administration confirmed a sharp decline in crude oil inventories last week.

U.S. crude oil for August delivery climbed around 2 percent to trade around $46.20 per barrel on the New York Mercantile Exchange. The price had reversed in early trade thanks to data released by the American Petroleum Institute that showed U.S. crude supplies lost 5.8 million barrels in the week ended June 30.

The EIA on Thursday said that domestic crude supplies dropped by 6.3 million barrels last week, which was even above a drop of 5.8 million barrels reported by the API and easily topped forecasts for a decline of 1.6 million barrels by analysts.

Trade suggestion

Buy Stop at 46.30, Take profit at 47.20, Stop loss at 45.90


***********************************************

U.K. Shares Move Lower, Led by A Tumble in Shares of Reckitt Benckiser


U.K. shares turned lower on Thursday, led by losses in shares of Reckitt Benckiser as the company cut it sales forecast while stocks of energy companies remained weak even though crude price futures pared losses.

The FTSE 100 shed more than 0.4 percent in morning session with tech, consumer, commodity and industrial shares trading lower. Only utility sector was trading in the green. The U.K. stock benchmark index gained 0.1% on Wednesday after a choppy session.

Shares of Reckitt Benckiser Group PLC led losses on Thursday said that it expected to permanently lose some revenue after last month’s cyberattack which would cause 2017 sales to drop sharply. Meanwhile, shares of oil producers contributed to the down trend. Indeed, equities of BP PLC and rival Royal Dutch Shell lost 0.1 percent and 1.22 percent, respectively.

On the upside, shares of Associated British Foods PLC jumped nearly 3.7 percent thanks to rosy outlook that full-year earnings will be improved on the back of a strong performance by ABF’s its Primark fashion retail chain.

Trade suggestion

Sell Stop at 7305.00, Take profit at 7265.00, Stop loss at 7235.00


************************************************

EUR/CAD

From GMT 08:40 06/07/2017
Till GMT 21:00 06/07/2017
Sell at 1.46800
Take profit at 1.46300
Stop loss at 1.47000

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 07, 2017



Asian shares tumbled on the last session of the week after U.S. shares lost ground on Wall Street on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.6 percent​ following a weak session in the U.S. where witnessed the Dow lost 0.7 percent while the S&P 500 declined 0.9 percent and the tech-heavy Nasdaq fell 1 percent on Thursday.

In Asia, Japan's Nikkei lost​ 0.1 percent, South Korea's KOSPI slipped​ 0.3 percent and Australian stocks plunged​ 1.3 percent. Hong Kong's Hang Seng shed​ 0.35 percent.​ Also trading in the red, the Hang Seng Index retreated 0.42% and the Shanghai Composite dropped 0.39%.

Crude oil futures prices fell by more than 1 percent early on Friday​ with both crude-oil benchmarks​ slipped after having soared on the back of a weekly report that pointed to a bigger-than-expected decline in U.S. inventories of crude. The slump came after reports about a​ production rise in the​ U.S.​ The data​ showed​ a 1 percent rise in weekly U.S. oil production to 9.34 million barrels per day (bpd). Since mid-2016, that's an increase of more than 10 percent.

Markets were nervously waiting for​ the Labor Department's June nonfarm payrolls report. The report is forecast by analysts to show U.S. employers to have added 179,000 jobs last month. Ahead of Friday's jobs data, the ADP National Employment Report​ released on Thursday​ showed private-sector payrolls increased by 158,000 jobs last month. The reading came​ in below​ both​ the 230,000 jobs created in May and​ economists' expectations for a rise of 185,000.



Technicals

GBPJPY



Supported by two MAs moving below the price action, GBPJPY surged to a nearly-two-month high in early trade on Friday, extending their rally to a third trading session in a row. The pair fell into a consolidation following the sharp up move but is expected to edge higher as buyers are dominating the market, as indicated by RSI index which has soared to as high as 64.76.

Trade suggestion

Buy Stop at​ 147.500, Take profit at​ 148.00, Stop loss at​ 147.300



BRENT


Brent crude prices gapped down on Friday and continued to extend their downward rally as the price action has fallen back below the long-term MA50. The commodity is facing a firm support at 47.500 and is anticipated to trade lower to test another firm support at 46.750 with a RSI index that has dipped to as low as 39.23.

Trade suggestion

Sell​ Stop at​ 47.400, Take profit at​ 46.750, Stop loss at​ 47.700



DAX



Germany’s DAX 30 index has been struggling around a support at 12366.00 – a level at which the index had to reverse higher in late-June. The price action failed to sustain its bullish momentum after breaching the short-term MA20. With a RSI index pointing lower which indicates a dominating bearish force in the market, the pair is expected to test the 23.6% Fibonacci level.

Trade suggestion

Sell​ Stop at​ 12330.00, Take profit at​ 12240.00, Stop loss at​ 12370.00



Dow Jones



Dow Jones extended their down moves to a third day in a row, which sent the price action below both long-term and short-term MAs to as low as 21310.00 – a strong support that had forced the pair to rebound earlier in June. While RSI was at low level, ADX is rising, signaling further downbeat moves. A support at 21195.00 is within the sight.

Trade suggestion

Sell​ Stop at​ 21305.00, Take profit at​ 21195.00, Stop loss at​ 21405.00


**********************************************

Pressurized by Strong Dollar, Gold Drops to Two-month Lows After NFP Data


Gold slumped for a second day, looking set to close the week at the lowest in nearly two months on Friday as the U.S. dollar strengthened after the release of an upbeat report on jobs created in June, which may bolster the Federal Reserve’s case to hike rate further in the second half of the year.

Gold futures for August delivery dropped nearly 0.7 percent to trade around $1215.00 per ounce after data published by the Labor Department showed the U.S. created 222,000 new jobs in June. Thanks to accelerating hiring in the spring, the reading was the largest in four months and was well above analysts’ forecast calling for a rise of 175,000 jobs created last month.

While the hourly pay rose 0.2% to $26.25 an hour in June, the unemployment rate ticked higher to 4.4% from 4.3% in May (which was also the lowest jobless rate in 16 years) as more people entered the labor force in search of work.

Trade suggestion

Sell Stop at 1215.00, Take profit at 1210.00, Stop loss at 1217.00



*************************************************

British Pound Tumbles Versus Dollar After A String of Downbeat Economic Data


Sterling dropped lower versus the U.S. dollar on Friday following downbeat U.K. data on manufacturing production. Meanwhile, the greenback held on gain ahead of a highly-expected U.S. Non-farm Payrolls which is due later in the day.

The currency pair GBPUSD lost more than 0.4 percent to trade at 1.2917 during European morning trade – its lowest level since Wednesday. The Pound pushed lower against most of its peers after the U.K. Office for National Statistics reported that manufacturing production retreated by 0.2% in May.

This was a disappointment compared to an increase of 0.2% recorded in the previous month and analysts’ forecast for a rise of 0.5 percent. On a yearly basis, manufacturing production advanced by 0.4%, well below expectation calling for an increase of 1.0%.

Besides, the ONS also reported data on U.K. industrial production which pointed to a down move of 0.1% in May. Economists had expected a 0.4% rise. Adding to the pressure on Sterling, construction output was reported to plunge by 1.2% while markets were expecting the figure to soar 0.6%.

Turning to the greenback, investors were nervously waiting for the Labor Department’s June nonfarm payrolls report. The report is forecast by analysts to show U.S. employers to have added 179,000 jobs last month. Ahead of Friday’s jobs data, the ADP National Employment Report released on Thursday showed private-sector payrolls increased by 158,000 jobs last month. The reading came in below both the 230,000 jobs created in May and economists’ expectations for a rise of 185,000.

Upbeat data will support the dollar to surge higher as they increase the optimism about the U.S. economy which would boost the case for higher interest rates at the second half of this year and in the following months.

On the contrary, a weak report would add to uncertainty over the economic outlook and prompt the Federal Reserve to delay the plans with regards to policy normalization to next year.

Trade suggestion

Sell Stop at 1.29100, Take profit at 1.28700, Stop loss at 1.29300



************************************************

GBP/USD

From GMT 14:30 07/07/2017
Till GMT 21:00 07/07/2017
Sell at 1.28700
Take profit at 1.28300
Stop loss at 1.28900

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report​ on July 10, 2017



Asian shares advanced on Monday, boosted higher by bullish sentiment that dominated in U.S. market on Friday. Strong performance on Wall Street, which came after upbeat Non-farm Payrolls, sent the MSCI Asia Pacific Index​ 0.5 percent​ higher. The index dropped​ 1.2 percent last week.​ Last Friday, the Nasdaq Composite led gains with a 1 percent jump, the S&P 500 followed with a rise of 0.6 percent while the Dow Jones Industrial Average added 0.4 percent

Japan’s Topix index jumped​ 0.5 percent​ and​ Nikkei rose 0.7 percent.​ Australia’s S&P/ASX 200 Index​ also gained 0.7 percent. While South Korea’s Kospi index inched​ 0.3 percent​ higher,​ Hong Kong’s Hang Seng Index​ recorded its biggest gain this month with a jump of​ 1 percent.​ The Shanghai Composite Index lost 0.2 percent​ after data showed​ China’s producer price​ index rose 5.5 percent on a yearly basis​ and the consumer price index was up 1.5 percent​ in June.

Crude oil prices edged higher on Monday, recovering from a 3-percent fall in the previous session. However, markets are expected to remain under pressure due to high drilling activity in the United States. According to data released by the energy services company Baker Hughes late Friday, U.S. energy firms added seven oil drilling rigs last week. This was a 24th week of increases out of the last 25, which brought the total count up to 763, the most since April 2015.

Elsewhere, Japanese Cabinet Office on Monday said the country’s core​ machinery orders unexpectedly tumbled in May.​ On a monthly basis, core orders were reported to​ drop​ 3.6 percent in May – the​ steepest month-on-month decline since August 2016. The reading, which came after a decline of 3.1 percent in May, was also well below​ the 1.7 percent​ increase expected by economists.



Technicals

NZDJPY



NZDJPY has been tracing a steady uptrend since May 21st, extending its upbeat moves to the eighth week in a row after shooting the price to​ a more-than-six-month high last week. The pair has been supported by two MAs which are lingering below the price action. With RSI edging higher and a widening gap between +DI and –DI lines, the pair is expected to test the 100% Fib. retracement.

Trade suggestion

Buy Stop at​ 83.100, Take profit at​ 83.700, Stop loss at​ 82.800



AUDJPY


AUDJPY rebounded from a support at 85.900 and the long-term MA50 to surge to as high as 86.900 – 15-week highs logged on July 04th. With the support from two MAs as well as bullish signals from ADX and RSI indices, the​ currency pair is anticipated​ to climb higher to test a resistance at 87.400.

Trade suggestion

Buy Stop at​ 86.900, Take profit at​ 87.400, Stop loss​ at​ 86.700



SP500


SP500 index rebounded from a consolidation around 2410.00 on Friday and has brought its price action above both long-term and short-term MAs. While RSI index is heading higher, ADX has also been on a rise with a widening gap between two DIs, suggesting a strengthening bullish momentum. A resistance at 2440.00 is within the sight.

Trade suggestion

Buy Stop at​ 2430.00, Take profit at​ 2440.00, Stop loss at​ 2425.00



GOLD


Gold inched lower on Monday after having declines for two weeks in a row. The precious metal is testing a support at 50.0% Fibonacci level at around $1210.00 per ounce – the lowest level since March 15th. Two MAs, especially the short-term MA20, is pressurizing the price. A breakout is expected and gold may test another firm support at 1200.00.

Trade suggestion

Sell​ Stop at​ 1209.00, Take profit at​ 1200.00, Stop loss at​ 1213.00



DOW JONES


Dow Jones index reversed higher at a firm support at 21310.00. Sharp up moves have sent the price action above two MAs, confirming the reversal into an uptrend. RSI index has crossed over the 50 line, suggesting a strengthening bullish force in the market. The stock benchmark index may extend its upbeat moves and test all-time high record at 21540.00.

Trade suggestion

Buy Stop at​ 21445.00, Take profit at​ 21540.00, Stop loss at​ 21400.00



*****************************************

Crude Oil Reverses Gains, Under Pressure of Persistent Oversupply


Crude oil futures prices reverse lower in European trading session on Monday; paring earlier gains to extend their downward rally to a fourth consecutive day amidst persistent oversupply worries.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in August inched around 0.1 percent lower to trade around $44.20 per barrel in early European trade after surging as high as $44.67 per barrel in Asian trading session.

Markets remained under pressure from rising output in the U.S. and some members of the Organization of Petroleum Exporting Countries. Data from the U.S. Energy Information Administration showed that U.S. production rose to nearly 9.34 million barrels a day last week. This was an increase from 9.25 million barrels a day the week prior. Compared to the same period one year ago, production jumped nearly 11%.

Moreover, Baker Hughes Inc. on Friday reported U.S. oil producers added seven more rigs last week. This was a 24th week of increases out of the last 25, which brought the total count up to 763, the most since April 2015.

Meanwhile, according to market sources, Libya’s crude-oil output soared to more than one million barrels a day, up from 400,000 in October. Nigeria’s output was also on a rise, surging to 1.6 million barrels a day, up from 200,000 barrels a day in October.

Crude oil futures prices retested a significant level at 38.2% Fibonacci retracement after having to give up its bearish momentum to reverse higher last Friday. As can be seen from the chart, the short-term MA20 has crossed over the long-term MA50 , confirming the downtrend. RSI continued to point lower while ADX index is witnessing a widening gap between -DI and +DI lines, signalling a breakout and further down moves.

Trade suggestion

Sell Stop at 44.00, Take profit at 43.00, Stop loss at 45.50


*****************************************

EUR/CAD

From GMT 15:25 10/07/2017
Till GMT 21:00 10/07/2017
Sell at 1.46600
Take profit at 1.46600
Stop loss at 1.46900

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 11, 2017



Asian shares advanced on​ Tuesday, supported by sentiment underpinned by technology-led gains on Wall Street in the previous session. Ahead of the U.S. second-quarter earnings season which is due to kick off later in the day, the MSCI Asia Pacific Index rose a second day, adding 0.5 percent. Meanwhile, Japan’s Topix Index jumped 0.4 percent, and South Korea’s Kospi climbed 0.3 percent.

Australia’s S&P/ASX 200 Index added 0.1 percent, on a rise with​ Chinese equities in Hong Kong while mainland markets continued to buck the trend. Hong Kong’s Hang Seng Index soared 1.1 percent and The Hang Seng China Enterprises Index rose 1.4 percent. By contrast, the Shanghai Composite Index fell​ for a second day, shedding 0.2 percent. Singapore’s Straits Times Index dropped 0.4 percent.

The New Zealand dollar plunged by nearly 0.6 percent in Asian trading session on Tuesday following the release of​ spending data​ that​ missed forecasts. The kiwi​ traded at 72.37​ U.S. cents​ after data on New Zealand Retail Card Spending for June arrived at 0% on a monthly basis. This was well below expectations calling for a rise of 0.8 percent.

Crude oil prices​ inched higher on Tuesday with Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures both adding 0.4 percent. Speaking on the sidelines of an energy conference in Istanbul, Kuwait Oil Minister Issam Almarzooq said that Libya and Nigeria, two countries which had been invited to a meeting between OPEC and non-OPEC producers in St. Petersburg, Russia, on July 24, might be asked to cap their crude output soon in an effort to help re-balance the market.

​

Technicals

USDJPY


USDJPY has been moving sideways around a level at 114.200 since the start of this week.​ However, the pair has still been receiving support from two MAs, which may send the pair higher to test a resistance at 61.8% Fibonacci retracement. RSI and ADX are edging higher, signaling further advances for the currency pair.​

Trade suggestion

Buy Stop at​ 114.300, Take profit at​ 114.600, Stop loss at​ 114.200



SILVER


As can be seen from the price chart,​ silver price has been under downward pressure exerted by two MAs that are hanging above the price action. The metal is heading downwards, looking set to test a low at 15.200 with the market dominated by sellers, as indicated by RSI index. ADX index is also witnessing a widening gap between –DI and +DI lines, confirming the signal for further down moves.​

Trade suggestion

Sell​ Stop at​ 15.500, Take profit at​ 15.200, Stop loss at​ 15.650



GOLD



Gold fell to test the 50.0% Fibonacci retracement again after having failed to surge above the long-term MA50. The precious metal even dropped below the short-term MAs with the RSI index having plunged to as low as 42.41. A breakout is expected with a support at 1205.00 within the sight.

Trade suggestion

Sell​ Stop at​ 1210.00, Take profit at​ 1205.00, Stop loss at​ 1212.00



SP500



SP500 index​ has been supported by two MAs which are moving below the price action. The index​ rebounded from​ the short-term MA20​ and has​ surged above two MAs again. RSI index is heading higher,​ suggesting a strengthening bullish momentum. A resistance at 2440.00 is within the sight.

Trade suggestion

Buy Stop at​ 2430.00, Take profit at​ 2440.00, Stop loss at​ 2425.00



BRENT



Brent crude​ futures prices​ retreated under pressure from the short-term MA20 that is lingering above the price action. RSI remained under 50, suggesting a market that is dominated by sellers. A support at 46.100 – the lowest level in the previous session- may be tested again.

Trade suggestion

Sell​ Stop at​ 46.900, Take profit at​ 46.100, Stop loss at​ 47.300

************************************************

Shares of Marks & Spencer and Pearson Lead Losses, Sending FTSE 100 Sharply Lower


U.K. shares fell sharply on Tuesday, driven lower by shares of consumer goods and heath care companies. Those losses encountered small gains of basic material, utility and financial stocks.

The FTSE 100 index plunged by more than 0.55 percent to trade around 7328.00 in European morning session. Leading the list of losers, shares Pearson PLC tumbled in the wake of a $1 billion stake-selling deal. The publishing and education company witnessed its shares lose nearly 2.5 percent after it sold 22% stake in Penguin Random House for $1 billion to Bertelsmann SE – a German media company.

Contributing to weighting down the overall performance, shares of Marks & Spencer were also on a sharp downtrend. Equities of the department-store operator dropped nearly 2.3 percent following reports showed fiscal first-quarter 2018 like-for-like sales in the U.K. fell 0.5%.

Trade suggestion

Sell Stop at 7320.00, Take profit at 7380.00, Stop loss at 7340.00


********************************************************

British Pound Loses Ground Versus Dollar Following BOE Deputy’s Warning


Sterling tumbled versus its American counterpart on Tuesday after Bank of England Deputy Governor Ben Broadbent warned about a reduction in trade for both the British economy and the EU’s in the aftermath of the U.K.’s leaving.

The pair GBPUSD dropped more than 0.3 percent to trade around 1.284 in early North American trading session on Tuesday. During a speech to the Scottish Council for Development and Industry in Aberdeen, BOE Deputy Broadbent said that Britain’s economy would be dragged down by Brexit which looks set to impact on existing trade links between the country and the European Union.

Meanwhile, the dollar held on gains versus its peers ahead of Federal Reserve Chair Janet Yellen’s testimonies. Yellen is scheduled to deliver her semi-annual monetary policy testimony before the Senate Banking Committee on Wednesday and in front the House Financial Services Committee on Thursday. Investors will looking for Yellen’s comments which may provide fresh cues on the future path of interest rates.

Trade suggestion

Sell Stop at 1.28400, Take profit at 1.28000, Stop loss at 1.28600



****************************************************

NZD/JPY

From GMT 12:00 11/07/2017
Till GMT 21:00 11/07/2017
Sell at 82.500
Take profit at 82.100
Stop loss at 82.700

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 12, 2017



Asian shares were mixed on Wednesday with MSCI's broadest index of Asia-Pacific shares outside Japan ticking up 0.4 percent. Meanwhile, Japanese equities lost ground as the yen rose 0.5 percent, the most in a week, to 113.36 per dollar. Japan's yen-sensitive Nikkei index slid 0.3 percent while Japan’s Topix Index lost 0.6 percent.

Australia’s S&P/ASX 200 Index​ was also on a downtrend, declining​ 0.8 percent. South Korea’s Kospi Index​ and the Shanghai Composite Index​ fell 0.1 percent​ and 0.2 percent, respectively.​ By contrast,​ led by banks,​ Hong Kong’s Hang Seng Index​ jumped above the key 26,000 mark after having surged 0.8 percent.

The U.S. dollar inched lower against its rivals after Federal Reserve Governor Lael Brainard on Tuesday said she wanted to “monitor inflation developments carefully”. Brainard said the Fed’s current policy rate was not far from its neutral level and further increases in the federal funds rate should be considered cautiously in order not to restrain inflation growth. The U.S. dollar index lost 0.24 percent to trade at 95.53.

Crude oil futures prices continued to advance in Asia on Wednesday, extending their up moves to a third trading session in a row. The price was supported by a report released by the U.S. Energy Information Administration on Tuesday which showed that the EIA expected U.S. crude oil output to increase by less than previously anticipated next year given a lower price outlook.

Meanwhile, the latest American Petroleum Institute (API) inventory data pointed to a draw of 8.13 million barrels for the week ending July 7th. This followed a draw of 5.76 million barrels recorded in the previous week and topped market’s expectation for a draw of around 2.5 million barrels last week. Official data from the Energy Information Administration will be published later in the day.



Technicals

AUDUSD



AUDUSD has been tracing a sharp uptrend​ after having broken out of a period of moving sideways around the 23.6% Fibonacci retracement. The price action has also been liberated from the constraint of the long-term MA50. Both RSI and ADX are on a strong rise, which may send the price higher to a resistance at 0.77000.

Trade suggestion

Buy Stop at​ 0.76600, Take profit at​ 0.77000, Stop loss at​ 0.76400



AUDNZD


AUDUSD breached the 23.6% Fibonacci retracement yesterday and also broke out of a firm resistance at 1.05500 – the level that forced the pair to reverse lower on June 15th​ and June 04th. The short-term MA20 has crossed over the long-term MA50 from below, confirming the uptrend. A resistance at 38.2% Fibonacci level is expected to be tested.

Trade suggestion

Buy Stop at​ 1.05800, Take profit at​ 1.06200, Stop loss at​ 1.05600



BRENT


Brent crude oil futures prices once again rebounded from a significant level at 38.2% Fibonacci retracement. As can be seen from the chart, the price action has surpassed both the short-term MA20 and the long-term MA50 from below, confirming the reversal into an uptrend. RSI continued to point higher while ADX​ index is edging higher, signaling further advances for the commodity.

Trade suggestion

Buy Stop at​ 48.320, Take profit at​ 49.150, Stop loss at​ 47.900



COPPER


Copper bounced back from a support at 23.6% Fibonacci retracement and has brought its price action above both the short-term MA20 and the long-term MA50.​ Further advances to a resistance at 2.7160 are expected as all indices are supporting the price. While RSI is heading upwards, ADX index is edging higher with a widening gap between two DI lines.

Trade suggestion

Buy Stop at​ 2.6860, Take profit at​ 2.7160, Stop loss at​ 6.6710.



NASDAQ 100


NASDAQ 100 index has been facing a firm resistance at 5720.00. The U.S. stock benchmark index has been supported by two MAs that are lingering below the price action and looked set to trade higher. The RSI index which is at as high as 62.32 indicates a strong bullish force in the market. A resistance at 5770.00 is within the sight.

Trade suggestion

Buy Stop at​ 5720.00, Take profit at​ 5770.00, Stop loss at​ 5700.00


*********************************

U.K. Shares Advance Following Job Data, Supported by A Jump in Burberry


U.K. shares jumped on Wednesday, supported by gains in oil and gas and consumer-goods stocks as well as bullish sentiment coming after better-than-expected job data.

The U.K.’s benchmark FTSE 100 added more than 0.7 percent to trade at 7,383.76. Shares of Burberry Group PLC led the list off gainers, climbing 2.41 percent after the British luxury retailer posted retail revenue of 478 million pounds ($615.6 million) in the fiscal first quarter ended June 30. The reading marked a rise of 3% compared with the same period last year.

Meanwhile, data released by the Office for National Statistics showed that the jobless rate in the U.K. unexpectedly decreased in May. Indeed, the rate of unemployment was reported to fall to 4.5% in May, beating analysts’ forecast for an unchanged rate at a four-decade low of 4.6%.

The ONS also published data on the number of people claiming unemployment-related benefits that increased by a seasonally adjusted 6,000 in June. That was well below expectations that called for a gain of 10,000 people.

Trade suggestion

Buy Stop at 7385.00, Take profit at 7405.00, Stop loss at 7375.00



***************************************

WTI Crude Jumps on The Back of Reports Forecasting Lower Output from the U.S.


U.S. crude oil futures prices continued to advance in Asia on Wednesday, extending their up moves to a third trading session in a row. The price was supported by a report anticipating that U.S. crude production may not rise as much as previously forecast.

The U.S. West Texas Intermediate crude August contract jumped 1.6 percent to trade around $45.77 a barrel on Wednesday. The U.S. Energy Information Administration on Tuesday said that it expected U.S. crude oil output to increase by less than previously anticipated next year given a lower price outlook.

According to the agency’s latest monthly short-term energy outlook, it trimmed its forecast for 2018 crude oil output to a rise of 570,000 barrels per day from last month’s forecast of a 680,000 bpd year-over-year increase. If confirmed, U.S. oil production would reach 9.9 million barrels per day next year. The agency’s forecast for 2017, which calls for an output of 9.3 million bpd, is unchanged.

Meanwhile, the latest American Petroleum Institute (API) inventory data pointed to a draw of 8.13 million barrels for the week ending July 7th. This followed a draw of 5.76 million barrels recorded in the previous week and topped market’s expectation for a draw of around 2.5 million barrels last week.

Official data from the Energy Information Administration will be published later in the day.


Crude oil futures prices once again rebounded from a significant level at 38.2% Fibonacci retracement. As can be seen from the chart, the price action has surpassed both the short-term MA20 and the long-term MA50 from below, confirming the reversal into an uptrend. RSI continued to point higher while ADX index is edging higher, signalling further advances for the commodity.

Trade suggestion

Buy Stop at 45.800, Take profit at 46.500, Stop loss at 45.600


**********************************

USD/CAD

From GMT 15:00 12/07/2017
Till GMT 21:00 12/07/2017
Sell at 1.28200
Take profit at 1.27600
Stop loss at 1.28500

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 13, 2017



Asian shares advanced on Thursday after Fed Chair Janet Yellen’s comments supported the Dow Jones Industrial Average to hit a new all-time high in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan soared 1.2 percent to its highest since May 2015 following a jump on Wall Street. At the close in NYSE, the Dow Jones Industrial Average climbed 0.57%, the S&P 500 index soared 0.73%, and the NASDAQ Composite index surged 1.10%.

Hong Kong’s Hang Seng Index took off to reach the highest since July 2015 after adding 1 percent. A gauge of Chinese companies listed in Hong Kong gained 1.5 percent, while the Shanghai Composite Index edged 0.4 percent higher. Australia’s S&P/ASX 200 Index and South Korea’s Kospi Index were also on sharp rises with each advancing more than 1 percent. By contrast, Japan’s Topix index fell 0.1 percent.

The Canadian dollar continued to edge higher versus its American counterpart on Thursday after rallying more than 1 percent to C$1.2681 overnight – its strongest level since June 23rd 2016. The Bank of Canada on Wednesday hiked its interest rates by 25 basis points for the first time in roughly seven years. As the rate hike had already been expected by markets, the Loonie was actually supported by upbeat statement released by the central bank which supported the view of more hikes in coming months.

Meanwhile, the dollar lost ground against most of its peers following the Federal Reserve’s Chair Janet Yellen’s semiannual appearance before Congress on Wednesday. Yellen expressed confidence in the U.S. economy but also signaled that monetary tightening won’t be more than gradual given low inflation growth.



Technicals

EURUSD



As can be seen from the price chart, EURUSD has been supported by two moving averages that are lingering below the price action. The pair fell to as low as 1.13900 after falling from a resistance at 1.14900 – the highest level since early May 2016. With RSI heading higher which indicates a strengthening bullish trend, the pair is expected to retest this level.

Trade suggestion

Buy Stop at 1.14400, Take profit at 1.14900, Stop loss at 1.14200



NZDUSD



NZDUSD has officially escaped the restraint of two MAs. The price action broke above these moving averages in early trade on Thursday and is heading higher to test a firm resistance at 0.73400. Both indices are confirming the uptrend with RSI index edging higher while ADX index witnessing a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 0.72900, Take profit at 0.73400, Stop loss at 0.72700



COPPER



Copper resumed its uptrend following a short correction from as high as 2.6974 with its price action remaining to be above both the short-term MA20 and the long-term MA50. Further advances to a resistance at 2.7160 are expected as all indices are supporting the price. While RSI is heading upwards, ADX index is witnessing its +DI line edging higher.

Trade suggestion

Buy Stop at 2.6900, Take profit at 2.7160, Stop loss at 2.6780



NASDAQ 100



Nasdaq 100 index has been tracing a sharp uptrend which brought the pair above a firm resistance at 5770.00 and also sent the market into the overbought zone. With ADX index soaring strongly, which showed a dominating bullish force in the market, the stock benchmark index may retest a resistance at 5840.00 – the highest level since June 26th.

Trade suggestion

Buy Stop at 5800.00, Take profit at 5840.00, Stop loss at 5780.00




**************************************

Natural Gas Trades Higher, Boosted by Less-than-expected U.S. Storage Data

U.S. natural gas futures advanced on Thursday, boosted higher than a weekly report showing natural gas supplies in storage in the U.S. rose less than expected last week.

Natural gas for delivery in August added nearly 0.9 percent on the New York Mercantile Exchange to trade around $3.0010 in North American trade on Thursday.

Data released by the U.S. Energy Information Administration showed that natural gas storage in the U.S. rose by 57 billion cubic feet in the week ending on July 7. This was below analysts’ forecast for an increase of 59 billion.

According to the report, total stocks now stand at 2.945 trillion cubic feet, down 289 billion cubic feet from a year ago, but 172 billion cubic feet above the five-year average.

Trade suggestion

Sell Stop at 3.0100, Take profit at 3.0400, Stop loss at 3.000


**************************************************

Supported by BOC’s Rate Hike, Loonie Extends Rally Versus Dollar After Yellen’s Dovish Comments

The Canadian dollar continued to edge higher versus its American counterpart on Thursday after having taken off in the previous session. The pair USDCAD tumbled to nearly-thirteen-month lows after the BOC raised interest rates while Fed Chair Yellen did not sound as hawkish as expected.

The Loonie added nearly 0.1 percent to trade around C$1.2741 in Asian morning session after rallying more than 1 percent to C$1.2681 overnight – its strongest level since June 23rd 2016.

The Bank of Canada on Wednesday hiked its interest rates by 25 basis points for the first time in roughly seven years. As the rate hike had already been expected by markets, the Loonie was actually supported by upbeat statement released by the central bank which supported the view of more hikes in coming months.

According to data from the overnight index swaps market, there is a greater than 80 percent chance of another rate increase by December.

Meanwhile, the dollar lost ground against most of its peers following the Federal Reserve’s Chair Janet Yellen’s semiannual appearance before Congress on Wednesday. Yellen expressed confidence in the U.S. economy but also signaled that monetary tightening won’t be more than gradual given low inflation growth. Yellen’s comments echoed her colleague – Federal Reserve Governor Lael Brainard’s view.

Brainard on Tuesday said she wanted to “monitor inflation developments carefully” and that the Fed’s current policy rate was not far from its neutral level. The Fed official claimed that further increases in the federal funds rate should be considered cautiously in order not to restrain inflation growth.

Trade suggestion

Sell Stop at 1.27300, Take profit at 1.26800, Stop loss at 1.27500

*******************************************

EUR/AUD

From GMT 07:40 13/07/2017
Till GMT 21:00 13/07/2017

Sell at 1.48000
Take profit at 1.47000
Stop loss at 1.48500

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 14th, 2017



Asian shares extended their upbeat moves on Friday, looking set to end the week on a high note after the Dow Jones Industrial Average reached a fresh all-time record high. U.S. stocks closed higher on Thursday thanks to dovish comments from Federal Reserve Chair Janet Yellen who reiterated her intention to tighten only gradually as inflation remains persistently below target.

The MSCI Asia Pacific Index added 0.2 percent in the last trading session of the week, contributing to a weekly advance of 2.5 percent. Shares in Japan were also on a rise with the Nikkei 225 edging 0.2 percent while Japan’s Topix index jumping 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi rose 0.5 percent and 0.2 percent, respectively.

By contrast, Hong Kong’s Hang Seng retreated 0.1 percent after its 3.9 percent surge on the week, the Shanghai Composite Index dropped 0.2 percent and the Shenzhen Composite Index dropped nearly 0.3 percent.

Investors were waiting for major U.S. banks to start reporting quarterly results on Friday. Some of the fund's top holdings namely JPMorgan Chase & Co, Citigroup Inc and Wells Fargo & Co are scheduled to report their second-quarter earnings results on Friday while others, including Goldman Sachs Group Inc, Morgan Stanley and Bank of America Corp are due to post results next week.



Technicals

AUDNZD



AUDNZD has been trading sideways above a support at 1.05500 since July 12th. The pair, however, has been supported by two MAs which are lingering below the price action, especially the short-term MA20. Further advances are expected given the RSI index that is heading upwards which shows a strengthening upward trend.

Trade suggestion

Buy Stop at 1.05800, Take profit at 1.06300, Stop loss at 1.05600



AUDCAD



AUDCAD rebounded from as low as 0.98250 - the firm support that forced the pair to reverse higher one week ago. The short-term MA20 has crossed over long-term MA50 from below, which suggests a reversal into an uptrend. Both RSI and ADX index are pointing upwards, signaling further advances. A resistance at 61.8% Fibonacci retracement is within the trend.

Trade suggestion

Buy Stop at 0.98700, Take profit at 0.99100, Stop loss at 0.98500



Natural Gas



Natural has fallen into a consolidation after having hit a support at 2.9500. The commodity had to rebound higher after facing this level in early-July. However, RSI remained below 50, indicating a market dominated by sellers. In the event of continual downtrend, a support at 2.8800 is expected to be tested.

Trade suggestion

Sell Stop at 2.9500, Take profit at 2.8800, Stop loss at 2.9800



DAX 30 Index



Germany’s DAX 30 index has fallen into a period of correction following sharp moves on Wednesday. The price action surged above the long-term M50 and also surpassed a resistance at 12540.00. RSI index has been standing on the verge of falling into the overbought zone. With a strong bullish force the index is expected to edge higher to test another resistance at 12750.00.

Trade suggestion

Buy Stop at 12660.00, Take profit at 12750.00, Stop loss at 12620.00


******************************************

Sterling Jumps Above 1.3000 After U.S. Data Fall Below Expectations

The British Pound soared to nearly ten-month highs versus the dollar on Friday, supported by hawkish comments from a BOE official. Meanwhile, the greenback traded lower after a pair of data releases disappointed markets.

The pair GBPUSD added more than 1.0 percent in the last session of the week to trade above $1.3000 for the first time since September 22nd, 2016. Sterling extended recent gains on the back of comments from Bank of England policy maker Ian McCafferty. The BOE policy maker claimed that the central bank should unwind its 435 billion pound quantitative easing program earlier than planned given strong jobs data and 42-year-low unemployment rate.

By contrast, the dollar lost ground versus most of its peers, continuing to slide further after downbeat inflation and retail sales data. The U.S. Bureau of Labor Statistics on Friday reported that the consumer price index was unchanged in June. Analysts had expected for a rise of 0.1%. On a yearly basis, the rate of inflation slowed to 1.6% in June (the smallest gain since October 2016) from 1.9% in the prior month.

Meanwhile, data on retail sales were reported to unexpectedly fall 0.2% last month following a decline of 0.3 percent in May.

Trade suggestion

Buy Stop at 1.30700, Take profit at 1.31200, Stop loss at 1.30500


*******************************************

U.S. Shares Edge HIgher but Financial Sector Caps Gains Following Earnings Results

U.S. shares were mostly higher on Friday except for stocks of major banks which turned sharply lower after some of the nation’s biggest banks second-quarter earnings results.

The stock benchmark S&P 500 index added more than 0.2 percent to trade at 2450.00 in the morning session on Friday with ten out of eleven sectors trading higher. Real estate and utilities shares led gains, advancing 0.99% and 0.63%, respectively.

Financial shares capped the overall performance. The banking sector dropped more than 0.9 percent with equities of Morgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. C losing at least 1 percent. Although second-quarter results mostly beat Wall Street expectations, bank officials pointed to weakness in areas including trading of bonds and stocks.

Trade suggestion

Buy Stop at 2452.00, Take profit at 2460.00, Stop loss at 2448.00


********************************************

EUR/CHF

From GMT 10:00 14/07/2017
Till GMT 21:00 14/07/2017

Buy at 1.10700
Take profit at 1.11100
Stop loss at 1.10500

 

[CSFX.Support]

Daily Report on July 17, 2017



Asian shares surged strongly on Monday, setting a fresh two-year record high after the releases of better-than-expected data from China. Besides, stock markets were also boosted by bets that lackluster U.S. data will restrain the Federal Reserve from aggressively raising its interest rates. While Japanese markets were closed for a holiday, the MSCI Asia Pacific Index jumped 0.4 percent after a rise of 3.1percent last week.

Australian shares reversed losses, adding 0.1 percent after having started the day in negative territory. . South Korea’s Kospi jumped 0.4 percent and Hong Kong’s Hang Seng Index climbed 0.6 percent. Boosted higher by upbeat economic data, the CSI 300 was 0.2 percent higher, after slumping as much as 2.2 percent earlier. The Shanghai Composite also narrowed earlier losses to 0.1 percent after plunging by as much as 2.6 percent earlier.

According to the National Bureau of Statistics, China’s economy grew 6.9 percent in the second quarter compared to one year ago. Although remaining at the same year-on-year growth rate, China’s GDP picked up to 1.7 percent on a quarterly basis, from 1.3 percent in the first quarter. China’s retail sales were reported to rise 11.0 percent in June from a year earlier, the fastest pace since December 2015. The reading beat analysts' expectations for a 10.6 percent rise.

While industrial output rose 7.6 percent in June from a year earlier, the Fixed-asset investment climbed 8.6 percent in the first half of this year. Both data topped markets’ expectations.

Crude oil prices inched higher on Monday with West Texas Intermediate crude advancing 0.2 percent to $46.64 a barrel, heading for a sixth day of gains. The energy services company Baker Hughes last Friday reported that U.S. drillers added two oil rigs in the week to July 14, which brings the total count up to 765, the most since April 2015.



Technicals

AUDNZD



AUDNZD has been trading sideways after a sharp surge above the 38.2% Fibonacci retracement. The pair, however, is likely to edge higher to test a resistance at 50.0% Fibonacci level. While the RSI index has soared to as high as 72.89 and fell into the overbought zone, the ADX index continues to be on a rise which indicates a strong uptrend.

Trade suggestion

Buy Stop at 1.06600, Take profit at 1.07000, Stop loss at 1.06400



EURGBP



EURGBP has been struggling around the level 0.87500 after having fallen from as high as 0.89500. The short-term MA20 has converged with the long-term MA50, confirming the downtrend. The RSI is at 29.51, showing a dominating selling force in the market. A support at 23.6% Fibonacci retracement is in the sight.

Trade suggestion

Sell Stop at 0.87500, Take profit at 0.87000, Stop loss at 0.87700



COPPER


Copper retreated a little bit after having retested a three-month high at 2.7173. With the support from two MAs which are hanging below the price action, copper price is anticipated to reverse higher to test a resistance at 2.7150. Both ADX and RSI indices are hiking, confirming the signal for further upbeat moves.

Trade suggestion

Buy Stop at 2.7150, Take profit at 2.7450, Stop loss at 2.7000



Natural Gas


Natural Gas futures prices extended gains after surpassing a dynamic resistance at the short-term MA20. The commodity is heading towards a firm resistance at 38.2% Fibonacci retracement. While the RSI is pointing higher, ADX index is witnessing a widening gap between the +DI and –DI lines.

Trade suggestion

Buy Stop at 3.0050, Take profit at 3.0450, Stop loss at 2.0850



************************************************

Shares of BlackRock Decline After Downbeat Q2 Earnings Report

Shares of BlackRock Inc. tumbled more than 3 percent in premarket trade on Monday after the firm reported second quarter earnings and revenue that missed analysts’ expectations.

BlackRock shares dropped 3.27% to trade around $424.00 per share on Monday following a gain of 0.11% after the close on Friday. The world’s largest asset manager posted second quarter earnings per share of $5.24 on revenue of $2.965 billion after excluding non-recurring items. That missed forecast for EPS of $5.39 on revenue of $3.02 billion.

Net profit was reported to advance to $857 million, or $5.22 a share, from $789 million, or $4.73 a share, in the same period a year ago while the firm’s assets under management rose 16% on a yearly basis to $5.689 trillion, topping analyst expectations.

Trade suggestion

Sell Stop at 424.00, Take profit at 420.00, Stop loss at 426.00



***************************************

AUD/USD

From GMT 11:30 17/07/2017
Till GMT 21:00 17/07/2017

Buy at 0.78300
Take profit at 0.78900
Stop loss at 0.78000

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 18, 2017



European shares dropped on Tuesday, dragged down by a strengthening euro that soared steeply to a 14-month high against the U.S. dollar while disappointing corporate earnings reports weighed on shares of Ericsson and Lufthansa. The Stoxx Europe 600 shed 0.4 percent with only the health care sector trading higher. In Frankfurt, DAX 30 index lost 0.51%, while France’s CAC 40 index was down nearly 0.3%.

Shares of Ericsson tumbled nearly 11 percent on Tuesday after the Stockholm-based company reported a bigger-than-expected net loss of 1.01 billion Swedish kronor ($122.3 million) in the second quarter. The Swedish telecom-equipment maker also warned that earnings could weaken further as the market continues to struggle.

According to the Office for National Statistics, the UK's inflation rate unexpectedly slowed to 2.6 percent in June after having hit a near four-year high at 2.9 percent in May, a near four-year high. The pound reversed gains versus the dollar in response to the figures as markets were expecting that a further increase in the inflation rate might raise the possibility of the BOE’s policy makers raising the benchmark interest rate from a record low of 0.25%.

The Aussie surged as much as 1.3 percent against the greenback to jump above 79 U.S. cents - its highest level since May 2015.The Reserve Bank of Australia published the minutes of its July policy meeting on Tuesday which showed the central bank were more optimistic about the jobs market and economy growth of Australia. According to the minutes, the RBA expected quarterly growth to have increased in the second quarter while said that the stronger labor market removes “some of the downside risk” to its wage-growth forecasts.



Technicals

EURUSD



EURUSD has been tracing an uptrend which sent the pair to 14-month highs on Tuesday. The pair breached a resistance at 1.14900 and is heading towards the highest level since May 02, 2016. Both RSI and ADX indices are heading higher, which indicates a strengthening bullish momentum in the market.

Trade suggestion

Buy Stop at 1.15600, Take profit at 1.16000, Stop loss at 1.15400



EURGBP



EURGBP rebounded from a firm support at 0.87450 and has been soaring steeply since then. The pair did not only breach both short-term and long-term MAs but also surpassed a strong resistance at 0.88600. While RSI is rising, ADX index is pointing higher with a widening gap between +DI and –DI lines. The currency pair is expected to retest another firm resistance at 0.89400.

Trade suggestion

Buy Stop at 0.88800, Take profit at 0.89400, Stop loss at 0.88500



BRENT



As can be seen from the price chart, BRENT crude has been supported by two MAs that are lingering below the price action. The commodity price rebounded after hitting the short-term MA20. The commodity price may test a significant level at 50.000 with the market dominated by buyers, as indicate by RSI and ADX indices.

Trade suggestion

Buy Stop at 49.300, Take profit at 50.000, Stop loss at 49.000



DAX 30



Germany’s DAX 30 index gapped down on Tuesday, opening below the short-term MA20. The stock benchmark index extended its downtrend and brought its price action below the long-term MA50 as well. While RSI index is pointing lower, ADX index is on a rise, suggesting further down moves. A support at 12350.00 is within the sight.

Trade suggestion

Sell Stop at 12430.00, Take profit at 12350.00, Stop loss at 12470.00


***********************************

Netflix Passes the 100 Million Subscriber Milestone, Shares Jump More than 10%

Shares of Netflix Inc. took off by more than 10 percent in after-hours trading on Monday after the streaming giant reported better-than-expected subscriber growth in its second quarter.

Netflix witnessed its shares jump nearly 10.7 percent to trade at $178.98 per share as the company reported adding a second-quarter record 5.2 million subscribers. Netflix reported net income of $65.60 million, or 15 cents per share for the three-month period to June. That was well above the net income of $40.76 million, or 9 cents per share recorded during the year-earlier period.

Revenue for the quarter was reported to hit $2.79 billion, up from $2.11 billion during the same period a year ago. With 5.2 million subscribers added in the last three months (1.1 million domestic and 4.1 million international), Netflix passed the 100 million subscriber milestone. Analysts had forecast that Netflix would add only 631,000 subscribers in the U.S. and Canada and 2.6 million overseas.

Trade suggestion

Buy Stop at 179.00, Take profit at 182.00, Stop loss at 178.00


************************************************

The Aussie Targets the Level 80 U.S. cents After RBA’s July Meeting’s Minutes

Australian dollar extended gains versus its American counterpart after having surged steeply in Asian trading session on Tuesday. The Aussie was boosted higher following the release of the RBA’s latest meeting minutes.

The Aussie surged as much as 1.3 percent against the greenback to jump above 79 U.S. cents – its highest level since May 2015. The pair AUDUSD looks set to build on its rally and may surge to 80 U.S. cents, the strongest level in more than two years.

The Reserve Bank of Australia published the minutes of its July policy meeting on Tuesday which showed the central bank were more optimistic about the jobs market and economy growth of Australia. According to the minutes, the RBA expected quarterly growth to have increased in the second quarter while said that the stronger labor market removes “some of the downside risk” to its wage-growth forecasts.

Trade suggestion

Buy Stop at 0.79100, Take profit at 0.79500, Stop loss at 0.78900

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 19, 2017



Asian share were mostly higher on Wednesday while European stock markets gained ground as the euro retreated. Asian equities were supported by investors’ optimism about China's ongoing economic transition with Chinese shares leading in Asia. Shanghai Composite Index jumped 1.4 percent and Hong Kong’s Hang Seng Index edged 0.6 percent higher.

Japan’s Topix Index swung between gains and losses, closing marginally higher on Wednesday ahead of the Bank of Japan’s monetary policy decision which is due on Thursday. The Nikkei225 added 0.1 percent. Australia’s S&P/ASX 200 Index rose 0.8 percent as bank shares climbed.

The Stoxx Europe 600 gained 0.4 percent following a decline of 1.1 percent in the previous session thanks to a weak euro that inched lower ahead of the European Central Bank’s policy statements due Thursday.

According to data released by the Commerce Department on Wednesday, the U.S. housing starts jumped 8.3 percent in June to a seasonally adjusted annual rate of 1.22 million units. On a yearly basis, housing starts advanced by 2.1 percent last month compared to one year ago.



Technicals

GBPAUD


GBPAUD retested a support at 1.64000 – the three-and-a-half-month low recorded yesterday. The pair fell into a correction but soon reversed lower as the market has been dominated by seller. RSI index has even fallen into the oversold zone. The pair is expected to test a support at 1.63400.

Trade suggestion

Sell Stop at 1.64000, Take profit at 1.63400, Stop loss at 1.64300.



SILVER


Silver futures prices have been tracing an uptrend with the support from two MAs that are lingering below the price action. The precious metal’s price surpassed a resistance at 16.200 and is heading towards a significant level at 61.8% Fibonacci level. The RSI index which is pointing upwards signals further advances.

Trade suggestion

Buy Stop at 16.330, Take profit at 16.500, Stop loss at 16.250



BRENT


As can be seen from the chart, Brent crude prices have been supported from two MAs that are lingering below the price action, especially the short-term MA20. RSI has been on rise, suggesting a strengthening bullish force in the market. A breakout from a resistance at 49.150 is expected.

Trade suggestion

Buy Stop at 49.150, Take profit at 49.850, Stop loss at 48.800



Dow Jones


U.S. Dow Jones index has been moving sideways above a firm support at 21540.00 after falling to as low as 21461.00. RSI index is moving around the 50 level but the stock index looked set to trade higher with support from the long-term MA50. The all-time record high logged on July 14th is expected to be tested.

Trade suggestion

Buy Stop at 21580.00, Take profit at 21660.00, Stop loss at 21540.00

***********************************************

Morgan Stanley Shares Advance After Upbeat Q2 Earnings Report

Shares of Morgan Stanley jumped more than 2 percent in per-market trading on Wednesday after the U.S. bank reported second-quarter earnings results that beat expectations. The company was the last of the five biggest U.S. banks to report results for the three-month period ending June.

Morgan Stanley posted reported net revenues of $9.5 billion in the June quarter, up from $8.9 billion recorded one year ago and topping analysts’ forecast for $9.1 billion of revenue. Earnings per share hit 87 cents, compared with 75 cents per share in the year-ago quarter. That beat estimate of 76 cents per share.

Although sales and trading declined to $3.2 billion from $3.3 billion in the same quarter in 2016, revenues from institutional securities, wealth management, and investment management were all higher than a year ago.

Trade suggestion

Buy Stop at 46.30, Take profit at 47.00, Stop loss at 46.00


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Shares of CSX Reverse Gains As FY 2017 Guidance Falls Short of Expectations

Shares of CSX Corp. lost more than 4.0 percent in the extended session on Tuesday although the railroad operator reported quarterly results above expectations as well as expanded its share buyback program.

CSX shares reversed gains, shedding 4.17% to trade at $52.36 after having soared 3.1% to $56.32 after hours. The company reported adjusted second-quarter earnings of 64 cents a share on revenue of $2.93 billion, which was higher than analysts’ forecast for earnings of 59 cents a share on revenue of $2.85 billion. CSX also announced that its share repurchase authorization had been added another $500 million to $1.5 billion in total.

However, CSX’s guidance for the full year fell short of analyst expectations. The company expects earnings growth for the fiscal year 2017 of around 25% from 2016, which is below analysts’ expectation for full-year EPS of $2.31, 28% above the $1.81 the railroad reported for 2016.

Trade suggestion

Sell Stop at 52.30, Take profit at 51.90, Stop loss at 52.50


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EUR/AUD

From GMT 09:00 19/07/2017
Till GMT 21:00 19/07/2017

Sell at 1.45500
Take profit at 1.44700
Stop loss at 1.45900

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 20th, 2017



Asian shares advanced for a ninth straight session on Thursday, bolstered by fresh all-time highs for U.S. equities. While U.S. stocks surged to new records on strong U.S. corporate earnings after the close on Wednesday, the Bank of Japan on Thursday decided to maintain its mega monetary stimulus. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.15 percent, trading near its highest level since December 2007.

The Bank of Japan kept its monetary policy steady as widely expected, maintaining the 0.1 percent interest it charges on a portion of excess reserves that financial institutions park at the central bank. The Japanese central bank also pushed back again the timing for achieving its 2 percent inflation target, as it cut price forecasts until fiscal year 2020. The yen retreated versus the dollar, lifting Japanese shares higher.

Indeed, Japan’s Topix index rose 0.7 percent while the Nikkei 225 added 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea's KOSPI index climbed 0.6 percent and 0.1 percent, respectively. Hong Kong’s the Hang Seng Index jumped 0.3 percent, while the Shanghai Composite Index was little changed.

Crude oil prices struggled for direction on Thursday following a jump to a two-week peak on Wednesday. Oil prices jumped more than 1 percent in the previous session after the Energy Information Administration (EIA) reported a bigger-than-expected weekly draw in crude and gasoline inventories in the United States. According to the report, U.S. crude stocks fell 4.7 million barrels during the week ended July 14th, exceeding estimates for a 3.2 million draw forecast by economists.



Technicals

EURNZD



EURNZD rebounded after falling under the 61.8% Fibonacci retracement. The pair crossed over this significant level again and is facing a pair of moving averages. While the +DI line has penetrated the –DI line from below, signaling a strengthening bullish momentum in the market, RSI index also surpassed the 50 line, suggesting further advances.

Trade suggestion

Buy Stop at 1.57000, Take profit at 1.58000, Stop loss at 1.56500



WTI



U.S. crude prices has been moving sideways around a two-week high at a significant level at 47.200 – the level at which the commodity had to reverse lower in early-July. With support from two MAs which are hanging below the price action, the benchmark crude price is expected to test a resistance at 48.000.

Trade suggestion

Buy Stop at 47.300, Take profit at 48.000, Stop loss at 47.000



DAX 30


Germany Dax 30 index has been tracing an uptrend since it rebounded from a low at 12380.00 logged on Tuesday. The price action has crossed over the long-term MA50 from below and is facing the short-term MA20. A breakout is expected as the bull is becoming stronger in the market. While RSI has inched higher the 50 line, ADX index is turning upward with a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 12530.00, Take profit at 12650.00, Stop loss at 12470.00



FTSE 100 Index


U.K. FTSE 100 Index gapped up on Thursday after sending its price action above a downtrend line which connected lower highs. The stock benchmark index escaped from the resistance with support from two MAs that are hanging below the price action. Both ADX and RSI are on a rise, signaling that the index may edge higher to test a resistance at 7480.00.

Trade suggestion

Buy Stop at 7445.00, Take profit at 7480.00, Stop loss at 7430.00


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American Express Shares Inch Lower As Profit Declines

Shares of American Express Company turned lower in after-hours trading on Wednesday after the credit-card company reported better-than-expected earnings and sales but profit declined in the second quarter.

Shares of the company inched nearly 1.5 percent lower to US$84.65 per share in after-market trading. The card company posted second-quarter earnings of $1.3 billion, or $1.47 a share, up from $2 billion, or $2.10 a share, in the year-ago period. Analysts had expected per-share earnings of $1.43.

However, American Express witnessed profit plunged by 33 percent in the three-month period ending June 30th. The decline came after the company ended its business relationship with Costco while its expenses rose sharply as the card company spent heavily on rewards to woo customers, not to mention expenses on tax treatment and restructuring charges.

Trade suggestion

Sell Stop at 84.60, Take profit at 84.00, Stop loss at 84.90


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Q2 Earnings Fall to Reach Expectations, Shares of Philip Morris Lose 3 Percent

Shares of Philip Morris International Inc. lost nearly 3.0 percent on Thursday after the cigarette and tobacco company reported second-quarter earnings below expectations.

Shares of Philip Morris dropped 2.98 percent in pre-market trading after the New York-based company reported revenues of $19.32 billion. This was up from $19.04 billion a year ago but failed to hit analysts’ forecast for revenues of $20.07 billion. Cigarette shipment volumes were reported to decline by 7.5% in the second quarter.

On a per-share basis, the company said it had profit of $1.14, down from $1.15 a year ago and missing expectation for earnings per share of$1.23. Philip Morris cut its 2017 EPS outlook to a range from $4.78 to $4.93 from a range from $4.84 to $4.99 previously forecast.

Trade suggestion

Sell Stop at 118.00, Take profit at 116.00, Stop loss at 119.00


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EUR/CAD
From GMT 10:00 20/07/2017
Till GMT 21:00 20/07/2017

Sell at 1.44850
Take profit at 1.44350
Stop loss at 1.45100

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 21, 2017



Asian shares pared their weekly gain on Friday with the MSCI's broadest index of Asia-Pacific shares outside Japan, which has gained about 5 percent in the past two weeks, retreating 0.2 percent in the last session of the week. Japanese shares also traded lower as the Yen gained ground versus a weak dollar. The Nikkei 225 slid 0.17 percent while the Topix index lost 0.3 percent

The South Korea’s Kospi index fluctuated, reversing earlier losses to gain 0.21 percent while other markets subdued. Hong Kong's Hang Seng Index declined 0.15 percent and the Shanghai Composite was off 0.21 percent. Australia’s S&P/ASX 200 Index even declined 0.5 percent. Only Shenzhen Composite gained 0.022 percent to trade just above the flat line.

The Australian dollar stumbled following a speech by Reserve Bank of Australia Deputy Governor Guy Debelle on Friday. The RBA Governor said that the central bank would not raise interest rates just because other central banks were doing so. The comments sent the Aussie 1 percent lower compared to a high of $0.7959 seen earlier in the session.

By contrast, the euro jumped to nearly two-year highs on Thursday on the back of comments from the chief of the European Central Bank. The ECB decided to hold its interest rates and asset purchases steady on Thursday. Mario Draghi, the head of the European Central Bank, said at a conference later in the day that tapering of the bank’s quantitative easing (QE) program will be on the table this autumn.



Technicals

USDCHF



USDCHF has been moving sideways after having fallen to as low as 0.95000 on Thursday. The pair has been under pressure from two MAs that are moving above the price action which may depress the price lower. RSI is at low level at 32.23, suggesting a dominating bullish force in the market. A support at 0.94600 is within the sight.

Trade suggestion

Sell Stop at 0.95000, Take profit at 0.94600, Stop loss at 0.95200



EURUSD



EURUSD rebounded from a period of consolidation in early trade. The Euro jumped to the highest level since August 21st, 2015, sending the market in the overbought zone. After the correction, the pair is expected to extend its uptrend to test a significant resistance at 1.17000 with support from two MAs lingering below the price action.

Trade suggestion

Buy Stop at 1.16500, Take profit at 1.17000, Stop loss at 1.16300



NZDUSD



NZDUSD broke out of a strong resistance at 0.73660 where the price had been retrained for one week. The pair jumped to the level has not been seen August 08, 2016 and is looking set to edge higher to the 100% Fibonacci retracement. While the RSI index is soaring, ADX index is witnessing a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 0.74300, Take profit at 0.74800, Stop loss at 0.74100



GOLD



Gold jumped above the 1244.00 level where it had failed to surpass since Tuesday. The precious metal has been supported by the short-term MA20 and is likely to trade higher. As can be seen from the indicator charts, both RSI and ADX indices are tracing higher. A resistance at 1253.00 is anticipated to be tested.

Trade suggestion

Buy Stop at 1247.00, Take profit at 1253.00, Stop loss at 1244.00



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OPEC Supplies Reported to Rise in July, Crude Oil Futures Turn Lower

Crude oil futures prices reversed lower on Friday, looking set to set a loss on the week after a tanker-tracking firm reported supply from OPEC is rising.

West Texas Intermediate crude futures prices for September delivery dropped more than 2 percent to trade around $45.82 per barrel in the last trading session of the week. According to data released by PetroLogistics, OPEC’s July oil supply might rise by 145,000 barrels per day (bpd) compared to June.

With higher supply from Saudi Arabia, the United Arab Emirates (UAE) and Nigeria, the increase in crude oil may push production above 33 million barrels per day.

The Baker Hughes is scheduled to release its weekly data on U.S. oil rigs later in the day, which is expected to provide fresh hints on the outlook for U.S. crude production.

Trade suggestion

Sell Stop at 45.80, Take profit at 45.20, Stop loss at 46.00


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Shares of Microsoft Reverse Gains After Low Expectation Clouds Upbeat Earnings Results

Shares of Microsoft Corp. rose as much as 4 percent in after-hours trading on Thursday after the technology company reported that it produced much better profit in its fiscal fourth quarter than expected. However, shares returned lower after Microsoft published guidance for the next quarter.

Shares of Microsoft hit an all-time intra-day high of $74.30 on Thursday in regular trading ahead of earnings results before closing at an all-time high of $74.22 per share. Microsoft reported net income of $6.5 billion, or 83 cents a share, on sales of $23.3 billion.

Adjusting for one-time items, the Redmond-based company claimed earnings of 98 cents a share on sales of $24.7 billion for the fourth quarter of its 2017 fiscal year, which ended on June 30. This was well above analysts’ expectations calling for earnings of 71 cents a share on sales of $24.3 billion.

However, for the first quarter of its 2018 fiscal year, which ends on September 30, Microsoft only expects revenue of $23.95 billion, based on the midpoint of its guidance which is in the range from $23.6 to $24.3 billion. Markets, meanwhile, forecast the company to reach $24.18 billion in sales in the September quarter.

Trade suggestion

Sell Stop at 74.00, Take profit at 73.00, Stop loss at 74.50

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 24, 2017



European shares edged lower on Monday, extending the selloff in global stock markets to second day. The pan-European STOXX 600 fell 0.1 percent in the morning session as gains in the heavyweight financials sector failed to counterbalance losses in autos and airlines sectors. Shares of the digital security company Gemalto plunged as much as 17 percent on Monday after it said that continued weakness in its SIM-card and U.S. payments operations would drag down profits.

Shares of carmakers were trading lower after European Union antitrust regulators announced that they were investigating allegations of a cartel in the industry. The autos index tumbled 1.8 percent to a seven-month low following the announcement with shares of Volkswagen, Peugeot, Daimler, Renault and BMW all shedding 1.2 to 2.5 percent.

Meanwhile, price war worries hurt airlines. Budget airline Ryanair was among top European loser after its shares dropping 4.7 percent. The Dublin-based airline reported a rise of 55 percent in profit of its fiscal first quarter but also warned that summer fares would face sharp cuts due to overcapacity. Shares of Ryanair’s rivals Wizz Air and EasyJet sank 2 to 3 percent, while those of Lufthansa dipped 1.1 percent.

The Euro retreated on Monday after data showed the Eurozone economy slowed in July. The single currency headed for its first decline in three days, halting the advance that saw it hit a two-year high logged last Thursday. According to data from Markit, composite Purchasing Managers Index for the Eurozone edged lower to 55.8 in July from 56.3 in June. That was below the 56.2 reading expected by economists.



Technicals

USDCHF



Fig: USDCHF H4 Technical Chart

USDCHF resumed its downtrend after rebounding from a support at 0.94500. The currency pair plunged to the lowest level since early May 2015, under downward pressure from two MAs that are hanging over the price action. Further down moves are anticipated even though the RSI index has dipped into the oversold zone, as ADX index is witnessing a widening distance between –DI and +DI lines.

Trade suggestion

Sell Stop at 0.94500, Take profit at 0.94000, Stop loss at 0.94700



GBPUSD



Fig: GBPUSD H4 Technical Chart

GBPUSD has been tracing an uptrend with the support from two moving averages that are hanging below the price action. The pair is heading upwards, looking set to retest a resistance at 0.31100 – the level at which the pair had to give up its bullish momentum on July 14th and 18th. RSI is soaring, confirming the uptrend.

Trade suggestion

Buy Stop at 0.30400, Take profit at 0.31100, Stop loss at 0.30100



GOLD



Fig: GOLD H4 Technical Chart

Gold jumped above a significant level at 23.6% Fibonacci retracement following a period of moving sideways below this level. The gold market has jumped into the overbought territory, as indicated by the RSI index which has soared to as high as 79.82. A reversal is expected.

Trade suggestion

Buy Stop at 1257.00, Take profit at 1263.00, Stop loss at 1254.00



DAX



Fig: DAX H4 Technical Chart

Germany’s DAX 30 index breached a significant level at 23.6% Fibonacci level on Monday after a short correction. Recent declines sent the market into the oversold zone, as indicated by the RSI index that has tumbled to as low as 23.17 and continues to head lower. However, ADX index extended its up moves with a widening gap between –DI and +DI lines. Further declines are expected.

Trade suggestion

Sell Stop at 12150.00, Take profit at 12000.00, Stop loss at 12220.00


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GBP/AUD
From GMT 08:30 24/07/2017
Till GMT 21:00 24/07/2017

Sell at 1.63500
Take profit at 1.63000
Stop loss at 1.63700