Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

Daily Report on July 25, 2017



European shares advanced while Asian stock markets were mixed on Tuesday. The MSCI Asia Pacific Index fluctuated near a 10-year high and Japan’s Topix index lost 0.3 percent. The Hang Seng Index was also little changed while the Shanghai Composite Index shed 0.2 percent. South Korea’s Kospi index also traded in negative zone, retreating 0.5 percent. By contrast, Australia’s S&P/ASX 200 Index added 0.7 percent.

Following three days of declines which dragged the index 1.6 percent lower, the Stoxx Europe 600 Index climbed 0.4 percent. The index was bolstered by gains in mining firms and banks. Germany's DAX 30 index added 0.1 percent, and the FTSE 100 index advanced 0.5 percent. Europe's tech sector also contributed to the uptrend after iPhone supplier AMS and computer peripherals and mobile speaker maker Logitech raised their mid-term revenue target.

According to data released by the Munich-based Ifo institute, German business confidence improved to an all-time high in July. The business climate index jumped to 116.0 this month, breaking the previous month's record at 115.2. Economists had expected the index to hit a reading of 114.9 in July.

Crude oil prices edged higher on Tuesday after Saudi Arabia promised to cap shipments next month to help ease a global glut. WTI crude gained 0.6 percent to $46.60 per barrel while Brent for September settlement climbed as much as 0.7 percent, to $48.96 a barrel on the London-based ICE Futures Europe exchange. During a speech at St. Petersburg, Russia on Monday, Energy and Industry Minister Khalid Al-Falih said that Saudi Arabia said it would trim shipments to 6.6 million barrels a day in August, 1 million lower than a year earlier.



Technicals

GBPNZD



GBPNZD rebounded higher after having been struggling around a level at 1.75300. The price action jumped above the short-term MA20 and looks set to attempt a resistance at 61.8% Fibonacci level. Further advances are expected with two indices on a rise.

Trade suggestion

Buy Stop at 1.75600, Take profit at 1.76400, Stop loss at 1.75200



COPPER


After having broken above a firm resistance at 2.7360 which had restrained the commodity from surging higher for nearly one week ending Tuesday, copper has been tracing a sharp uptrend which sent the market into the overbought zone. RSI and ADX indices keep soaring, indicating a strong uptrend in the market. A resistance at 0.0% Fibonacci level is within the sight.

Trade suggestion

Buy Stop at 2.7950, Take profit at 2.8200, Stop loss at 2.7880



WTI


U.S. crude oil extended its up moves to a second trading session after having rebounded from as low as 45.500. The price action has crossed over both the short-term MA20 and the long-term MA50, confirming the uptrend. The RSI index has soared above 50 level while the ADX is on a rise with a widening gap between +DI and –DI lines, suggesting further advances.

Trade suggestion

Buy Stop at 46.800, Take profit at 47.700, Stop loss at 46.400



FTSE 100



U.K.’s FTSE 100 index rebounded from a support at 7370.00 and is struggling at a dynamic resistance at the short-term MA20 after penetrating the long-term MA50 from below. The stock benchmark index is expected to head higher as the market has entered the bullish zone, as indicated by the RSI index. The ADX index also confirm the uptrend as the +DI line has converged with the –DI line from below.

Trade suggestion

Buy Stop at 7430.00, Take profit at 7500.00, Stop loss at 7400.00


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Alphabet Shares Lose Gound due to Weak Performances of Google’s Key Metrics

Shares of Alphabet Inc. dropped nearly 3 percent on Monday in trading shortly after the parent company of Google released its second-quarter earnings report.

Alphabet’s shares lost as much as 2.94 percent to trade at $969.00 per share in after-hours trading after the company posted a plunge of 28 percent in GAAP profit due to a $2.74 billion fine that European antitrust regulators slapped on its Google unit.

On a GAAP basis, the company reported net income of $3.5 billion, or $5.01 per share, up from $4.9 billion, or $7 per share recorded in the same period last year. This was well above analysts’ expectations calling for earnings per share of $4.44. Revenue was reported to reach $26 billion in the three-month period ended June, up from $21.5 billion in the year-earlier period and beating forecast for total revenue of $25.6 billion

Besides the fine levied by the European Commission, Alphabet’s shares were dragged lower due to worse-than-expected performances of two key metrics: cost per click (CPC) and traffic acquisition costs (TAC).

Indeed, Google’s CPC – the amount advertisers are paying each time a user clicks on an ad served by Google- fell 23% in the quarter, compared with a drop of 7% in the same period a year ago. The decline in CPC was much higher than the 15% analysts expected as more search traffic came from mobile devices.

Meanwhile, Google’s TAC – the fees it pays to partner websites that run Google ads or services – increased to $5.09 billion, higher than analyst estimates of $4.75 billion and equivalent to 22% of advertising revenue.

Trade suggestion

Sell Stop at 969.00, Take profit at 960.00, Stop loss at 974.00


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Shares of McDonald’s Rise Following Upbeat Q2 Earnings Results

Shares of McDonald’s Corp. jumped nearly 3 percent in premarket trading on Tuesday after the fast-food giant released its second-quarter earnings report that showed results beat forecast.

McDonald’s shares added 2.55% to trade at $155.74 per share after the Illinois-based company reported a better-than-expected increase in quarterly sales at established U.S. restaurants.

The fast food restaurant chain posted net income of $1.40 billion, or $1.70 per share, up from $1.09 billion, or $1.25 per share, for the same period last year. Revenue for the quarter was reported to reach $6.05 billion, down from $6.27 billion last year. However, both figures topped market’s expectations.

Global same-store sales rose 6.6%, the biggest increase in more than 5 years. Meanwhile, U.S. same-store sales (sales at U.S. restaurants open at least 13 months) rose 3.9%, beating forecast calling for a rise of 2.9%, according to FactSet.

Trade suggestion

Buy Stop at 156.00, Take profit at 160.00, Stop loss at 154.00


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USD/JPY
From GMT 08:00 25/07/2017
Till GMT 21:00 25/07/2017

Buy at 111.300
Take profit at 111.800
Stop loss at 111.100

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 26, 2017



Supported by upbeat sentiment coming after U.S. equities hit records on Wall Street on Tuesday, Asian shares advanced on Wednesday with MSCI's broadest index of Asia-Pacific shares outside Japan edging 0.1 percent higher. The S&P 500 added 0.3 percent to climb to an all-time high overnight, boosted higher by better-than-expected earnings results from McDonald's and Caterpillar. The Dow Jones Industrial Average finished short of its record from July 19.

Japanese shares also jumped higher. In late-morning trades, the benchmark Nikkei 225 Index soared 0.67 percent to 20,089.64 after hitting a high of 20,116.00 earlier. Markets are awaiting the Federal Reserve's policy decision later in the day for fresh clues on the central bank’s tightening plans. The Fed is widely expected to keep interest rates unchanged.

According to data released by the Australian Bureau of Statistics on Wednesday, the country’s consumer prices unexpectedly advanced at a slower pace in the second quarter. Australia’s inflation gauges inched only 0.2 percent higher in the three-month period to June, missing forecast for a rise of 0.4 percent as lower oil prices dragged down the headline measure. On a yearly basis, CPI gained 1.9%, well below both forecast and RBA’s target of between 2-3% on average.

Crude oil price extended their upbeat moves on Wednesday, holding gains near eight-week highs hit in the previous session. As stated by the industry group the American Petroleum Institute, U.S. crude inventories fell by 10.2 million barrels in the week ending July 21 to 487 million. Analysts had expected a decrease of 2.6 million barrels. Official data will be published by the Energy Information Administration later in the day.



Technicals

AUDCAD




AUDCAD has broken below the 61.8 Fibonacci retracement, under pressure from two MAs that are hanging above the price action. The short-term MA20 has crossed over the long-term MA50, confirming the downtrend. The currency pair is forecast to trade lower to test a support at 0.98250 as RSI index is pointing to the oversold zone.

Trade suggestion

Sell Stop at 0.98800, Take profit at 0.98250, Stop loss at 0.99000



WTI




WTI crude prices surged strongly to hit the 23.6% Fibonacci level – the highest in nearly two months. The commodity is struggling at the significant level as the market has jumped into the overbought territory. However, with the ADX index that is still on a rise, the crude oil price is expected to trade higher to test a resistance at 49.400.

Trade suggestion

Buy Stop at 48.400, Take profit at 49.400, Stop loss at 48.000



SILVER




Silver has been tracing a downtrend since it failed to sustain its bullish momentum above the 61.8% Fibonacci retracement. The precious metal had been supported by a couple of MAs before breaching below these two dynamic supports. RSI index has fallen below 50, confirming the downtrend. Further declines are expected as ADX index is on a rise with widening gap between –DI and +DI lines.

Trade suggestion

Sell Stop at 16.360, Take profit at 16.230, Stop loss at 16.420



COPPER



Copper prices have been on a steep uptrend which has brought the market into the overbought zone, as indicated by the RSI index which is at as high as 83.74. The metal resumed its strong advances following a short consolidation at around 2.8400. The price surpassed a more-than-two-year high at 2.8200 and is anticipated to trade higher to attempt a resistance at 2.9300.

Trade suggestion

Buy Stop at 2.8900, Take profit at 2.9300, Stop loss at 2.8700


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U.K. Shares Jump After Upbeat Earnings Reports, GDP In Line With Expectations

U.K. shares surged on Wednesday, supported by gains in companies that reaffirmed their rosy outlook and a weak British Pound that turned lower versus the greenback for the second day in a row.

The FTSE 100 index jumped more than 0.6 percent to trade around 7480.00. Shares of ITV and Compass Group PLC topped the market, soaring at least 2.6 percent after the releases of their earnings results. While the maker of “Downton Abbey” raised its dividend, the catering services company posted a rise in third-quarter revenue. Both companies backed their full-year expectations.

The overall performance was also supported by gains for energy and mining stocks. Crude oil held on gains after taking off on Tuesday, spurring gains in shares of Royal Dutch Shell PLC and BP., which gained more than 0.5% each.

With copper price jumping to the highest level since mid-May 2015, shares of Fresnillo climbed more than 0.7 percent, also boosted by its 2017 production guidance which showed higher silver and gold output for the second quarter. Shares of BHP PLC also traded higher, adding more than 0.8 percent.

The Office for National Statistics on Wednesday reported that Britain’s economy grew in line with expectations in the second quarter. Britain GDP was reported to rise 0.3% in the three months to June following a 0.2% growth in the first three months of the year. On a yearly basis, the economy expanded by 1.7% from 2.0% in the first quarter, in line with forecasts.

Trade suggestion

Buy Stop at 7480.00, Take profit at 7500.00, Stop loss at 7470.00


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AT&T Shares Advance As Earnings Above Wall Street Forecasts

Shares of AT&T reversed higher in after-hours trading on Tuesday after closing the regular session down less than 0.1 percent as the telecommunications conglomerate reported Q2 earnings above Wall Street expectations.

AT&T shares jumped more than 2.7 percent to trade at $37.21 per shares after the telecommunications company said it earned $3.9 billion, or 63 cents a share, in the second quarter. That was well above the same quarter last year’s reading of $3.4 billion, or 55 cents a share.

Adjusted for one-time items, AT&T posted earnings of 79 cents a share, marking an advance compared with 72 cents a share recorded a year ago. Meanwhile, sales were reported to inch lower to $39.8 billion, from $40.5 billion in the year-ago quarter. However, the decline, which was due to weak performance in legacy wireline services and consumer mobility, was line in with forecast.

Trade suggestion

Buy Stop at 37.25, Take profit at 37.80, Stop loss at 37.00

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 27, 2017



Asian shares climbed to the highest level in nearly a decade on Thursday after U.S. indexes closed at all-time record highs in the previous session. Also supported by optimism about corporate earnings, the MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.5 percent to heights not seen since December 2007 after the Dow Jones Industrial Average rose above 21,700 for the first time on Wednesday.

A firmer Yen kept Japan's Nikkei flat. Meanwhile, both Japan’s Topix index and Australia’s S&P/ASX 200 Index added 0.3 percent. Upbeat earnings results rolled in with data from Samsung Electronics Co. and Nintendo Co. beating analysts’ estimates. In Hong Kong, the Hang Seng Index edged 0.2 percent higher, while the Shanghai Composite Index dropped 0.4 percent.

The U.S. dollar tumbled after the Federal Reserve left U.S. interest rates unchanged as widely expected but said that inflation remained persistently below its target. The dollar index, which measures the strength of the greenback versus a basket of six other major currencies, tumbled to a 13-month trough at 93.370. The central bank noted in its statement released late Wednesday that both overall and core inflation had declined. The Fed indicated that it would start winding down its massive holdings of bonds "relatively soon".

Crude oil prices retreated on Thursday following a three-day advance but lingered near 8-week highs on hopes that a steeper-than-expected decline in U.S. crude oil inventories will help ease concerns over a global oversupply. According to data released by the Energy Information Administration on Wednesday, U.S. crude stocks fell sharply by 7.2 million barrel last week. Thanks to the fact that refineries increased output and imports declined, last week’s decline in crude inventories was well above the 2.6 million barrel forecast.



Technicals



EURAUD




EURAUD rebounded lower from a resistance at 1.47600 and has brought its price action below both the short-term and long-term MAs. The price action has also breached a significant support at 38.2% Fibonacci level. The pair is expected to trade lower with the RSI index pointing lower which indicates a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 1.45900, Take profit at 1.45400, Stop loss at 1.46100



GBPUSD



GBPUSD has breached a strong resistance at 1.31100 –the level it had to give up its bullish momentum in the first half of last week. The RSI index has jumped into the overbought territory while the ADX index continues to surge higher, indicating a strengthening bullish momentum in the market. A resistance at 1.32000 is within the sight.

Trade suggestion

Buy Stop at 1.31500, Take profit at 1.32000, Stop loss at 1.31300



GOLD



Gold has successfully broken out of a strong resistance at 23.6% Fibonacci retracement – a level that had forced the precious metal to trade sideways earlier this week. Gold price has been supported by two MAs that are lingering below the price action and is expected to trade higher to test another firm resistance at 1270.00.

Trade suggestion

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



WTI


U.S. crude oil prices have fallen into a period of moving sideways around the 23.6% Fibonacci level after surging to the highest level since June 01st on Wednesday. The commodity price looks set to edge higher with a market dominated by bullish momentum. ADX index is also on a rise, signaling upcoming advances.

Trade suggestion

Buy Stop at 48.700, Take profit at 49.500, Stop loss at 48.300

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

Impressive Q2 Earnings Report Boosts Facebook Shares More Than 3% Higher

Shares of Facebook Inc. jumped more than 3 percent in Wednesday’s after-hours session after the tech giant published its second-quarter earnings results that beat Wall Street expectations.

Facebook shares added 3.32 percent to trade around $171.10 per share after the social networking service based in Menlo Park, California reported net income of $3.89 billion, or $1.32 per share. The readings did not only top earnings of $2.28 billion, or 78 cents per share, in the year-earlier period but also beat consensus calling for earnings per share of $1.12.

Total revenue was reported to reach $9.3 billion, up from $6.4 billion in the year-earlier period and well above forecast for a rise to $9.2 billion. Facebook said the number of daily active users jumped 17% year-over-year to reach 1.32 billion, in line with forecast. Monthly active users also grew at rate of 17% on a yearly basis, to 2.01 billion.

Trade suggestion

Buy Stop at 171.20, Take profit at 173.00, Stop loss at 170.00



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Procter & Gamble Shares Advance as Fiscal Q4 Earnings Results Beat

Shares of Procter & Gamble Co. gained nearly 1 percent on Thursday after the consumer goods corporation reported fiscal fourth-quarter earnings results that were above Wall Street expectations.

Procter & Gamble shares added 0.72 percent to trade at $89.945 as the Cincinnati, Ohio-based company posted net income for the quarter of $2.22 billion, or 82 cents per share, up from $1.95 billion, or 69 cents per share during the year earlier period. Adjusted for one-time items, earnings per share came in at 85 cents, well above analysts’ expectation for earnings of 78 cents.

Procter & Gamble reported revenue of $16.08 billion for the three-month period ending in June, down slightly compared with the $16. 10 billion in revenue recorded during the same quarter a year ago. However, the decline had been expected. Economists forecast revenue to decline to $16.02 billion during the quarter.

The company said that it forecast earnings to grow 5% to 7% in 2018.

Trade suggestion

Buy Stop at 90.00, Take profit at 92.00, Stop loss at 89.00

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on July 31, 2017



Asian shares reversed losses on Monday, turning positive following a lackluster start as supported by solid Chinese data. MSCI's broadest index of Asia-Pacific shares outside Japan rebounded higher from early downticks to rise 0.1 percent. Meanwhile, a firm Japanese Yen outweighed earnings that beat expectations from companies such as Hitachi Ltd. and TDK Corp., sending Japanese stocks lower.

The yen jumped more than 0.2 percent to trade at as high as 110.300 per dollar – the highest level since June 15, 2017 – in early trade. Japan’s Topix index swung between gains and losses while Japan's Nikkei fell 0.1 percent. South Korea’s Kospi index also traded in negative zone, losing 0.3 percent on the back of turmoil in the region. The US flew two supersonic B-1B bombers over the Korean peninsula in a show of force on Sunday after North Korea test-fired an intercontinental ballistic missile last Friday.

By contrast, Australia’s S&P/ASX 200 Index rose 0.3 percent. Chinese equities also edged higher. Hong Kong's Hang Seng index and Shanghai Composite index rose 0.6 percent and 0.2 percent, respectively. Published by the China Federation of Logistics and Purchasing on Monday, Chinese manufacturing PMI index slipped to 51.4 in July while services PMI index inched lower to 54.5 from 54.9 in June. However, both indices remained above the 50-point mark that separates growth from contraction on a monthly basis.

Crude oil prices extended their rally to a sixth trading session in a row, bolstered by a tightening U.S. crude market. According to data released by the U.S. Energy Information Administration last Wednesday, domestic oil production witnessed a modest fall of 19,000 barrels a day to 9.41 million barrels a day. Drilling for new U.S. production was also reported to decelerate, with just 10 rigs added in July, the fewest since May 2016.



Technicals



EURAUD


Fig: EURAUD H1 Technical Chart

EURAUD resumed its downtrend following a consolidation around 1.47100. The price action, which has been supported by the short-term MA20, has dropped below this dynamic, confirming the downtrend. The RSI is edging lower, the pair is expected to test a support at 1.46600.

Trade suggestion

Sell Stop at 1.47000, Take profit at 1.46600, Stop loss at 1.47200



NZDJPY



Fig: NZDJPY H4 Technical Chart

NZDJPY is facing a firm dynamic support at long-term MA50 after having gapped down in early trade. The market has fallen into the bearish zone, as indicated by the RSI index that has declined to as low as 44.43. The pair is likely to breach below the MA50 and may test a support at 82.300.

Trade suggestion

Sell Stop at 82.800, Take profit at 82.300, Stop loss at 83.000



WTI



Fig: WTI H4 Technical Chart

U.S. West Texas Intermediate (WTI) crude futures have been tracing a steady uptrend after having broken out of a period of moving sideways near a significant level at 23.6% Fibonacci retracement. The commodity is struggling at a firm resistance at 49.800 as the market has jumped into the overbought zone. However, with ADX index is soaring which indicates a strong bullish force in the market, the price is expected to edge higher.

Trade suggestion

Buy Stop at 49.900, Take profit at 50.800, Stop loss at 49.500



Natural gas



Fig: Natural Gas H4 Technical Chart

Natural gas’s futures prices gapped down sharply on Monday, sending the price action not only well below the short-term MA20 but also to a firm support at 2.8800 – the level it has failed to breach since July 10th. With RSI pointing lower and a rising ADX index, natural gas is anticipated to trade lower to test another strong support at 23.6% Fibonacci retracement.

Trade suggestion

Sell Stop at 2.8750, Take profit at 2.8400, Stop loss at 2.9000


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

U.S. Natural Gas Futures Tumble to Nearly Five-month Lows on Demand Concerns

U.S. natural gas futures dropped steeply on Monday, falling to the lowest level in almost five months as updated weather forecasts signaled lower demand for the fuel.

U.S. natural gas for September delivery tumbled by nearly 4 percent to trade at $2.819 per million British thermal units in North American trading session. The price plunged to the lowest since early March 2017.

According to market source, meteorologists forecast temperatures during the month of August to be near normal after a warmer-than-average June and July near-normal temperatures, which would turn down cooling demand over the next two weeks. Nearly 50% of all U.S. households use gas for cooling.

Analysts expect this week’s storage data scheduled to be published on Thursday will point to a build in a range between 17 and 27 billion cubic feet in the week ended July 28.

Trade suggestion

Sell Stop at 2.8160, Take profit at 2.7800, Stop loss at 2.8340


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USD/CHF
FromGMT 09:00 31/07/2017
TillGMT 21:00 31/07/2017
Buy 0.97000
Buy at 0.97000
Take profit at 0.97500
Stop loss at 0.96800

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

EUR/NZD
FromGMT 14:00 31/07/2017
TillGMT 21:00 31/07/2017
Buy 1.57200
Buy at 1.57200
Take profit at 1.57800
Stop loss at 1.56900

 

[CSFX.Support]

Signals by Capital Street FX


Daily Report on August 01, 2017



Asian stock markets traded higher on Tuesday after the Dow Jones Industrial Average eked out a fresh record high on Wall Street in the previous session. The MSCI Asia Pacific Index jumped 0.7 percent in the first trading session of the new month after having advanced for a seventh month in July. Meanwhile, Japanese shares also advanced after upbeat corporate earnings results.

Japan’s Topix index rose 0.5 percent, supported by gains in banks’ equities after Sumitomo Mitsui Financial Group Inc. - the second largest bank in Japan by market value - reported a 31 percent increase in net income for the June quarter. Australia’s S&P/ASX 200 Index surged 0.7 percent while South Korea’s Kospi index soared sharply 1.1 percent.

The Hang Seng Index in Hong Kong and the Shanghai Composite Index climbed 0.8 percent and 0.4 percent, respectively. According to data released by Markit, the Caixin manufacturing PMI came in at 51.1, well above expectation calling for a reading of 50.4. Any level above 50 denotes expansion.

The Australian dollar tumbled to as low as 0.79943 after the Reserve Bank of Australia left its cash rate at 1.5 percent on Tuesday, as widely expected decision given policy makers. The central bank also said an appreciating exchange rate which witnessed the Aussie trading near nearly-two-year highs versus the dollar would result in a slower pick-up in economic activity and inflation than currently forecast.

Crude oil futures continued to trade higher on Monday with U.S. West Texas Intermediate (WTI) crude futures jumping above $50 per barrel for the first time since late May. Analysts anticipate U.S. crude oil inventories declined 2.9 million barrels in the past week.



Technicals

EURUSD



EURUSD rebounded higher following correction that came after the currency pair reached the highest level since May 01st. The market fell into the overbought zone, as indicated by the RSI index which is at as high as 71.79. However, the pair is expected to trade higher as the ADX index is pointing upwards, signaling further advances.

Trade suggestion

Buy Stop at 1.18300, Take profit at 1.19000, Stop loss at 1.18000



GBPUSD



GBPUSD is tracing a sharp uptrend after having surpassed a resistance at 1.31500. With upward support from two MAs that are lingering below the price action. Both ADX and RSI are on a rise, which indicates a strengthening bullish momentum in the market. The pair is anticipated to edge higher.

Trade suggestion

Buy Stop at 1.32300, Take profit at 1.32800, Stop loss at 1.32100



GBPCHF



GBPCHF has been struggling around the level at 1.27600 after having surged to the highest level since mid-May 2017. The pair is anticipated to attempt a significant resistance at 38.2% Fibonacci retracement. Both RSI and ADX are surging, confirming the uptrend.

Trade suggestion

Buy Stop at 1.27900, Take profit at 1.28600, Stop loss at 1.27600



BRENT



Brent crude futures prices retested a firm resistance at 52.600 again and are moving sideways above this significant level. The commodity price is expected to trade higher as the Brent crude market has been dominated by the sellers, as indicated by the RSI index which is at as high as 70.87.

Trade suggestion

Buy Stop at 52.900, Take profit at 53.700, Stop loss at 52.500


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

U.K. Shares Extend Gain, Bolstered by Impressive Earnings Results

U.K. shares jumped higher on Tuesday, extending their gains after closing July higher. The overall performance was supported by upbeat earnings reports from the oil major and the engine manufacturer such as BP PLC and Rolls-Royce Holdings PLC.

The FTSE 100 index soared more than 0.7 percent on Tuesday to trade at 7430.00 after having a July rise of 0.8%. Direct Line Insurance Group PLC led gains with shares sharply surging more than 7%. Shares of the motor insurance provider were boosted higher after the company posted a rise in first-half net profit to £275.5 million ($363.7 million) and raised its interim dividend.

Shares of BP PLC were among market leaders as the oil producer announced that it returned to profit in the second quarter of $553 million. While shares of BP PLC added nearly 3 percent, those of Rolls-Royce Holdings PLC took off nearly 10% after the aircraft engine maker reported a first-half net profit of £1.6 billion ($2.1 billion).

Trade suggestion

Buy Stop at 7430.00, Take profit at 7470.00, Stop loss at 7415.00


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

AUD/USD
From GMT 10:00 01/08/2017
Till GMT 21:00 01/08/2017

Sell at 0.79800
Take profit at 0.79400
Stop loss at 0.80000

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

CAD/JPY
From GMT 16:40 01/08/2017
Till GMT 21:00 01/08/2017

Sell at 87.900
Take profit at 87.400
Stop loss at 88.100

 

[CSFX.Support]

Signals by Capital Street FX

Daily Report on August 02, 2017



Asian shares advanced on Tuesday with gains in technology stocks offset losses in basic materials and energy. The MSCI's broadest index of Asia-Pacific shares outside Japan was steady near its highest since late 2007, helped by a jump of 0.8 percent in the MSCI tech index for Asia which was trading in territory not trod since early 2000. Impressive earnings result from tech giant was behind bullish sentiment in the sector.

Meanwhile, Japan's Nikkei rose 0.4 percent and Topix index gained 0.5 percent as Japanese yen lost ground versus most of its rivals. Hong Kong’s Hang Seng Index added 0.4 percent, while the Shanghai Composite Index was little changed. South Korea’s Kospi index also traded higher, advancing 0.2 percent. By contrast, Australia’s S&P/ASX 200 Index lost 0.4 percent.

Crude oil prices remained weak after having tumbled on Wednesday, depressed by a weekly report show U.S. fuel inventories rose last week. The American Petroleum Institute on Tuesday reported that U.S. crude stocks rose by 1.8 million barrels to 488.8 million in the week ending July 28 amid expectations calling for a draw of 3.2 million barrels. Official figures are due to be published by the U.S. Energy Information Administration (EIA) later in the day.

The New Zealand dollar was struck by data released by Statistics New Zealand early Wednesday which showed hiring declined unexpectedly in the country. The national unemployment rate was reported to hit a nine-year low at 4.8% in the June quarter. The reading was in line with market expectations and lower than the 4.9% rate reported in the previous quarter. However, employment dropped by 0.2% to 2.535 million people, missing forecasts for a rise of 0.7%.



Technicals

EURJPY



EURJPY successfully broke out of a firm resistance at 130.550 – the level that had restrained the currency pair from trading higher since July 11th. With upward support from two MAs which are lingering below the price action, the pair is expected to advance further. RSI and ADX indices which are on rise confirmed the uptrend.

Trade suggestion

Buy Stop at 131.100, Take profit at 131.500, Stop loss at 130.900



GBPNZD



GBPNZD surpassed a strong resistance at 1.77500 and is heading higher, attempting to test another significant resistance at 50.0% Fibonacci retracement. While RSI index has jumped into the overbought zone, the ADX is soaring steadily, signaling further advances for the currency pair.

Trade suggestion

Buy Stop at 0.78100, Take profit at 0.78900, Stop loss at 0.77700



GBPJPY



GBPJPY has broken out of a shrinking trading range which witnessed lower highs and higher lows formed along the way. A breakout from below suggests further advances with a resistance at 147.600 within the sight. RSI is heading towards the overbought zone, confirming the uptrend.

Trade suggestion

Buy Stop at 146.700, Take profit at 147.600, Stop loss at 146.300



FTSE 100 Index



FTSE 100 index retreated after having failed to surpass a firm resistance at 7430.00. The pair has also been under downward pressure, as indicated by lower highs formed along the way. The price action fell below a couple of MAs. With RSI falling below the level 50 while –DI line converging with +DI line, the stock benchmark index is anticipated to test a support at 7360.00.

Trade suggestion

Sell Stop at 7400.00, Take profit at 7360.00, Stop loss at 7420.00


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

Apple Shares Soar to Would-be-record-highs Levels After Earnings Beat

Shares of Apple Inc. rallied more than 6 percent in extended session on Tuesday after the tech giant announced stronger-than-expected quarterly earnings while its iPhone sales met expectations.

Apple shares jumped 6.3 percent in after-hours trading to trade at $159.50, which would be a fresh record high if maintained during regular trading. The California-based company reported fiscal third-quarter earnings of $8.72 billion, or $1.67 a share, well above $7.8 billion, or $1.42 a share, a year earlier. Analysts had expected earnings of $1.57 a share.

Apple posted revenue of $45.41 billion, up from $42.36 billion recorded one year ago and topping analysts’ estimate of $44.89 billion. Sales of iPhones were reported to reach 41.03 million, advancing from 40.4 million in the same period last year and beating expectations calling for sales of 41 million units.

The iPhone marker anticipates fiscal fourth-quarter revenue to hit a range of $49 billion to $52 billion.

Trade suggestion

Buy Stop at 159.00, Take profit at 161.00, Stop loss at 159.00


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

Gold Futures Advance After Weaker-than-expected U.S. Jobs Data

Gold futures prices held near seven-week highs on Wednesday, supported by a weaker U.S. dollar that traded lower after data showed fewer new jobs than expected were created in the United States in July.

Gold futures for September delivery advanced above $1270.00 per ounce in North American trading session after a report on ADP Nonfarm Employment Change showed a rise of 178K new nonfarm private employment jobs. However, the reading was short of the forecast of 187K and marked a decrease over June’s 191K.

The U.S. Labor Department will release its July nonfarm payrolls report on Friday which is expected to show jobs growth of 183,000 this month, following an increase of 222,000 in June. Unemployment rate is forecast to dip to 4.3% from 4.4% while average hourly earnings might have risen 0.3% after gaining 0.2% a month earlier.

Trade suggestion

Buy Stop at 1271.00, Take profit at 1277.00, Stop loss at 1268.00


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GBP/AUD
From GMT 09:50 02/08/2017
Till GMT 21:00 02/08/2017

Buy at 1.66300
Take profit at 1.67000
Stop loss at 1.66000

 

[CSFX.Support]

Daily Report on August 03, 2017



Asian shares retreated on Thursday after having surged to the highest level in almost 10 years in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.6 percent from its highest since December 2007, with losses led by South Korea's tech-heavy Kospi index. The Dow Jones Industrial Average topped the 22,000 mark for the first time on Wall Street on Wednesday on the back of sharp up moves in Apple shares following its earnings.

Leading the declines, South Korean shares dropped by the most since November after President Moon Jae-in announced plans to raise taxes on big corporations and high-earning individual. South Korean tech shares were also hit hard as shares of Samsung Electronics Co. - the largest weighting on the Kospi index – tumbled as much as 3.8 percent.

Japanese equities were also on a decline. Japan's Nikkei dropped 0.3 percent while Topix index dropped 0.1 percent. Australia’s S&P/ASX 200 Index lost 0.2 percent, Hong Kong’s Hang Seng Index also slid 0.2 percent and the Shanghai Composite Index shed 0.3 percent.

According to data released by Financial information firm IHS Markit Ltd., activity in the U.K.'s services sector grew faster in July from June's four-month low. U.K.’s services PMI rose to 53.8 in July from 53.4 a month earlier, slightly below the expectations of analysts calling for a reading of 53.9.



Technicals

AUDNZD



AUDNZD had been trapped between the short-term MA20 and the long-term MA50 before breaking out of the MA50 from above to trade lower. The price action also fell below a firm support at 50.0% Fibonacci retracement, indicating a strengthening bearish force formed in the market. RSI is pointing downwards, suggesting further declines.

Trade suggestion

Sell Stop at 1.06950, Take profit at 1.06600, Stop loss at 1.07100



GBPAUD



GBPAUD has been struggling around a resistance at 1.67000 after having soared to the highest level in more than two weeks in the previous session. With support from two MAs lingering below the price action, the currency pair is anticipated to edge higher to attempt a significant level at 50.0% Fibonacci retracement.

Trade suggestion

Buy Stop at 1.67100, Take profit at 1.67100, Stop loss at 1.66800



WTI



WTI has broken out of a period of trading sideways as the price action had faced a resistance at the short-term MA20. The commodity price is expected to trade higher, attempting to test a fixed resistance at 50.800 as the market is dominated by bullish force. RSI index has surged above 50, confirming the uptrend.

Trade suggestion

Buy Stop at 49.800, Take profit at 50.800, Stop loss at 49.300



SILVER



Silver has been tracing a downtrend under downward pressure from two moving averages which are hanging above the price action. The precious metal is expected to trade lower, possibly testing a support at 16.350 as the RSI index has fallen to as low as 40, which indicates a strengthening bearish momentum in the market.

Trade suggestion

Sell Stop at 16.450, Take profit at 16.350, Stop loss at 16.500


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Shares of Tesla Jump Nearly 8% on Upbeat Earnings and Rising Delivery Forecasts

Shares of Tesla Inc. rose as high as 8 percent in late trade on Wednesday after the car market reported sales above Wall Street expectations and predicted increased Model S deliveries in the second half of 2017.

Tesla’s shares jumped as much as 7.45 percent to trade at $350.16 in after-hours trading after ending the regular session up 2%. Tesla reported that it lost $336.4 million or $2.04 a share in the second quarter, which was larger than a loss of $293.2 million, or $2.09 a share recorded one year ago.

However, adjusted for one-time items, Tesla lost only $1.33 a share, well below $1.61 a share a year ago and analysts’ expectation for a loss of $1.88 a share. Besides a narrower-than-expected second-quarter loss, the Silicon Valley car maker posted revenue of $2.8 billion, up from $1.3 billion a year ago and beating forecast of $2.52 billion in revenue.

Tesla claimed that Model S demand was increasing, and therefore, Model S and X deliveries are expected to rise in the second half of 2017.

Trade suggestion

Buy Stop at 350.20, Take profit at 360.00, Stop loss at 345.00


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Sterling Tumbles After the BOE Holds Rates but Cuts Growth Rate Forecasts

The British pound slumped versus most of its rivals including the U.S. dollar after the Bank of England cut its U.K. growth outlook on expectation that Brexit will continue to take a toll on U.K. investment and growth.

Sterling pulled away from an 11-month high of 1.3266 hit earlier in the session and dropped more than 0.8 percent to $1.3111, heading for the biggest drop since June. The BOE left interest rates on hold at record lows of 0.25 percent after its monetary policy meeting on Thursday.

The central bank also cut its economic growth forecast for this year and next. Particularly, the BOE forecasts economic growth of 1.7 percent this year and 1.6 percent in 2018. These figures marked a decrease from previously expectations calling for growth rate of 1.9 percent in 2017 and 1.7 percent next year.

Trade suggestion

Sell Stop at 1.31200, Take profit at 1.30700, Stop loss at 1.31400


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EUR/AUD
From GMT 15:30 03/08/2017
Till GMT 21:00 03/08/2017

Buy at 1.49600
Take profit at 1.50100
Stop loss at 1.49400

 

[CSFX.Support]

Daily Report on August 04, 2017



Asian shares were mixed on Friday following a technology-led drop on Wall Street in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.2 percent higher, poised to climb 0.3 percent for the week. Meanwhile, Japanese stocks lost ground. Due to a strong yen, Japan’s Topix index slid 0.2 percent and Nikkei index dropped 0.3 percent. Both indices looked set to end the week little changed.

Overnight, while the Dow Jones Industrial Average edged up to a seventh straight record high, staying above the 22,000 level breached on Wednesday, the S&P and Nasdaq closed 0.2 percent and 0.35 percent lower respectively, weighed down by Amazon.com, Apple (NASDAQ:AAPL) and other top-shelf technology stocks. South Korea's KOSPI recovered 0.3 percent on Friday after having closed at a 3-1/2-week low on Thursday.

According to data released by the Australian Bureau of Statistics on Friday, Australian retail sales rose in June. Supported by a recent strong improvement in the country's job market, the country’s retail sales rose by 0.3% in June from May, above analysts’ expectation for a 0.2% rise for the months. On a quarterly basis, retail sales gained 1.5%, beating an expected up 1.2% on quarter gain.

Crude oil futures dipped on Friday after a report showed exports by the Organization of the Petroleum Exporting Countries (OPEC) rose to a record high in July. According to the data, OPEC’s crude oil exports jumped to 26.11 million barrels per day (bpd) last month, marking a rise of 370,000 bpd. Meanwhile, U.S. oil production reached the highest since August 2015 at 9.43 million bpd and up 12 percent from its most recent low in June last year.



Technicals

EURJPY



EURJPY rebounded from a strong support at 130.550 and is facing a dynamic resistance at the short-term MA20. The pair, with support from two MAs hanging below the price action, is expected to break out of this resistance and head higher to a level 131.350. RSI is at as high as 53.68, indicating a strengthening bullish force in the market.

Trade suggestion

Buy Stop at 130.850, Take profit at 131.350, Stop loss at 130.600



GBPCHF



The currency pair GBPUSD is likely to extend its down moves following a consolidation that came after a sharp drop from the 38.2% Fibonacci retracement. The price action has crossed over the short-term MA20 and is heading downwards to a support at 1.26400 where the long-term MA50 is also within the sight.

Trade suggestion

Sell Stop at 1.27100, Take profit at 1.26400, Stop loss at 1.27400



Natural Gas



Natural gas futures prices retreated after having failed to surpass a significant level at 23.6% Fibonacci retracement. Under downward pressure from two MAs, the commodity’s price is expected to trade lower, likely to breach a firm support at 2.7800 – the level that has restrained the price from falling since July 31st. Another strong support at 2.7270 is anticipated to be tested.

Trade suggestion

Sell Stop at 2.7720, Take profit at 2.7270, Stop loss at 2.950



SILVER


Silver has been tracing an uptrend after breaking out of a period of trading. The short-term MA20 has crossed over the long-term MA50 from below, suggesting a strengthening uptrend. While RSI index is soaring, ADX is also on a rise with a widening gap between +DI and -DI lines, signaling further advances for the precious metal.

Trade suggestion

Buy Stop at 16.730, Take profit at 16.850, Stop loss at 16.670

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

U.S. Dollar Takes Off After Impressive 209K Jobs Added in July, Sterling Tumbles

The U.S. dollar rallied on Friday after the Bureau of Labor Statistics released July jobs data that easily beat Wall Street expectations. The sharp surge of the greenback pushed the British Pound to the lowest level in more than one week.

The currency pair GBPUSD tumbled more than 0.7 percent to trade at $1.30400 – the lowest since July 26th – in North American trading session, looking set to close the week lower. The greenback was supported strongly after the highly-awaited report showed the country created 209,000 new jobs last month.

The reading topped Wall Street forecasts for 175,000 jobs to have been added in July. In total, the U.S. has created nearly 450,000 new jobs in the past two months, pushing the jobless rate back down to a 16-year low of 4.3% from 4.4% recorded in the previous month. On a monthly basis, pay rose 0.3% in July to an average of $26.36 an hour, remaining at the year-over-year growth rate of 2.5% as in the prior month.

Trade suggestion

Sell Stop at 1.30400, Take profit at 1.30000, Stop loss at 1.30600



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Kraft Heinz Raises Q2 Dividend As Earnings Helped by Cost Cuts Amid Weak U.S. Sales

Shares of Kraft Heinz Co added more than 1% in after-market trading on Thursday after the food giant reported sales missed forecasts but adjusted earnings above Wall Street expectations.

Kraft Heinz’s shares edged 1.14% higher to trade at $87.50 in extended session after the food and beverage conglomerate posted net income of 1.16 billion, or 94 cents per share, in the latest quarter. This marked a rise of 50.5 percent compared with $770 million, or 63 cents a share, in the year-ago quarter.

Excluding certain items, the Chicago, Illinois – based company earned 98 cents a share in the quarter, up from 85 cents a share a year ago and 3 cents ahead of analysts’ average estimate.

Due to a decline in U.S. sales, which account for more than two-thirds of Kraft’s total revenue, the company’s revenue dropped 1.7 percent to $6.68 billion from $6.79 billion a year ago and missed analysts’ average estimate of $6.73 billion.

However, Kraft Heinz raised quarterly dividend to 62.5 cents a share from the prior quarterly dividend rate of 60 cents a share as the company kept a tight leash on costs. Selling, general and administrative expenses were reported to plunged by 15 percent to $760 million in the second quarter ended July 1.

Trade suggestion

Buy Stop at 87.50, Take profit at 89.00, Stop loss at 87.00



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USD/JPY
From GMT 12:30 04/08/2017
Till GMT 21:00 04/08/2017

Buy at 110.600
Take profit at 111.000
Stop loss at 110.400

 

[CSFX.Support]

Daily Report on August 07, 2017



Asian shares rebounded higher, returning to the highest level in almost 10 years following a strong advance on Wall Street last Friday. Strong U.S. hiring data bolstered optimism about economic growth in the world’s largest economy and sent U.S. stock benchmark index higher at the close with the Dow Jones Industrial Average ending at its eighth straight record high.

The MSCI Asia-Pacific Index jumped 0.6 percent to trade close to its highest since December 2007 while Japanese shares also gained ground as the currency Yen clung to losses. Indeed, Japan’s Topix index rose 0.6 percent, on course for a two-year high, boosted by earnings data at Toyota Motor Corp which showed first-quarter profit beat estimates and rosy full-year forecast.

Benchmarks in Australia, South Korea and Hong Kong also edged higher. The S&P/ASX 200 Index in Sydney climbed 1 percent, with gains led by shares of miners and banks. Meanwhile, South Korea’s Kospi index jumped 0.5 percent and the Hang Seng Index rose 0.4 percent. By contrast, Shanghai Composite was flat.

Crude oil prices edged lower with West Texas Intermediate crude and global benchmark Brent losing 0.1 percent. Data released by the energy services firm Baker Hughes on Friday showed U.S. drillers cut one oil rig in the week to Aug. 4, bringing the total count down to 765. Representatives of Organization of Petroleum Exporting Countries meet with their allies in Abu Dhabi on Monday and on Tuesday to discuss ways to boost compliance with their supply reduction agreement.



Technicals

NZDUSD



NZDUSD has been tracing a sharp downtrend as the currency pair has been under downward pressure exerted by two MAs that are hanging above the price action. While the RSI index is pointing downward, ADX index is heading higher with a widening gap between –DI and +DI lines, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 0.73700, Take profit at 0.73100, Stop loss at 0.74000



USDCAD



USDCAD rebounded higher following a period of correction as the pair had jumped to the highest since mid-July. The RSI index is pointing upwards, whereas, ADX index is heading higher with a widening gap between +DI line and -DI line, signaling further advances for the currency pair. A resistance at 1.27600 is within the sight.

Trade suggestion

Buy Stop at 1.26800, Take profit at 1.27600, Stop loss at 1.26400



EURAUD


EURAUD bounced back from a significant support at 23.6% Fibonacci retracement after a period of moving sideways around this level. The price action has crossed over the long-term MA50 from below after having surpassed the short-term MA20. The pair is expected to extend its upbeat moves with RSI index is at as high as 59.36.

Trade suggestion

Buy Stop at 1.49100, Take profit at 1.49600, Stop loss at 1.48900



GBPNZD



GBPNZD has been on a steady rise after having bounced back from a firm support at 1.75650. The price did not only breach the 61.8% Fibonacci retracement but also surpassed two MAs from below. Both RSI and ADX indices are soaring, which suggests the pair may head higher to retest a resistance at 1.77900.

Trade suggestion

Buy Stop at 1.77200, Take profit at 1.77900, Stop loss at 1.76900



BRENT



Brent crude price retreated as the bullish trend failed to sustain further advances. Lower highs were formed in the chart, showing a weakening bullish momentum. The price action has fallen below two MAs, which suggests a reversal into a downtrend. With RSI having dropped to as low 46.100, the commodity’s price is expected to test the 23.6% Fib. retracement.

Trade suggestion

Sell Stop at 51.700, Take profit at 51.000, Stop loss at 52.000



CAC40


As can be seen from the chart, the stock benchmark index has been advancing with its price action breaking out of a slopping downward trading range. RSI index is pointing upwards, whereas, ADX index is heading higher with a widening gap between +DI line and -DI line, signaling further advances for the index.

Trade suggestion

Buy Stop at 5220.00, Take profit at 5260.00, Stop loss at 5200.00



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

Sterling Ticks Down While Mining Shares Advance, FTSE 100 Index Trades Higher

U.K. shares extended gains on Monday, bolstered by strength in mining stocks and a weakening British Pound. The FTSE 100 index added nearly 0.2% to trade at a six-week high at 7525.00 in afternoon session after having closed higher by 0.5% last Friday.

The blue-chip benchmark index hovered around the highest level since June 19th, 2017 with a sharp increase of 2% last week – the biggest weekly gain since December. Mining shares led gains in the market due to the fact that iron ore prices jumped by roughly more than 6%.

Shares of BHP Billiton PLC climbed by more than 1.7 percent while shares of its rival Rio Tinto PLC also added around 1.73 percent. Shares of iron ore producer Anglo American drove up 2% while Glencore PLC witnessed even more impressive up moves with an increase of nearly 2.5% in equities.

The Baar, Switzerland- based commodities miner and trader is scheduled to publish second-quarter results on Thursday.

Shares of oil majors also traded higher even though crude oil price remained weak. Shares of BP PLC added 0.53% while those of Royal Dutch Shell PLC edged 0.36% higher.

Meanwhile, Sterling reversed lower against most of its peers on Monday, paring its gains versus the U.S. dollar in early trade. The pair GBPUSD lost more than 0.15% to linger around $1.3020.

Trade suggestion

Buy Stop at 7525.00, Take profit at 7560.00, Stop loss at 7510.00


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USD/CAD

From GMT 04:00 07/08/2017
Til GMT 21:00 07/08/2017

Sell at 1.26300
Take profit at 1.25800
Stop loss at 1.26500

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

NZD/JPY

From GMT 16:40 07/08/2017
Till GMT 21:00 07/08/2017

Sell at 81.400
Take profit at 81.000
Stop loss at 81.600

 

[CSFX.Support]

Daily Report on August 08, 2017



Asian shares were litter changed on Tuesday, taking a breather close to the highest since 2007 following the release of disappointing Chinese trade data. Overnight, U.S. shares advanced on Wall Street with the Dow and the Nasdaq index rising 0.12 percent and 0.51 percent, respectively. The S&P 500 rose 0.2 percent to an all-time high on Monday but its futures index fell 0.1 percent in Asian trading session.

MSCI's broadest index of Asia-Pacific shares outside Japan was be barely changed after giving up modest early gains while Japanese shares retreated. Indeed, Japan's Nikkei and Japan’s Topix index both eased 0.3 percent. Australia’s S&P/ASX 200 Index lost even 0.6 percent, whereas, South Korea’s Kospi index and Hong Kong’s Hang Seng Index swung between gains and losses.

China's main markets remained weak after data released by the Customs General Administration of China showed that exports and imports both grew much less than expected in July. China's export growth was reported to slow to 7.2 percent in July from a year earlier, falling to reach analysts’ expectation calling for a 10.9 percent gain. The reading marked the weakest pace since February.

Meanwhile, imports also witnessed the slowest growth since December. China’s imports jumped 11.0 percent, down from a 17.2 percent rise in the previous month and well below expectations of 16.6 percent growth. China’s trade balance hit a surplus of $46.74 billion for the month, the highest since January. The reading surpassed forecasts for $46.08 billion.

Crude oil prices extended losses in Asian trading on Tuesday with both global benchmark Brent crude futures and U.S. crude futures down 0.4 percent. The decline came after news showed a recovery in output at Libya's largest oil field known as Sharara field. Production from the field that could give an output of 270,000 bpd returned to normal after a brief disruption, the National Oil Corporation (NOC) reported on Monday.



Technicals

NZDJPY



NZDJPY has been tracing a steady downtrend after reversing lower from six-month highs that logged on July 27th. The currency pair has been under downward pressure from the short-term MA20 that is hanging above the price action. The RSI has stepped into the oversold zone while the ADX index is heading higher, indicating a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 81.250, Take profit at 80.700, Stop loss at 81.500



GBPCHF



GBPCHF has been moving sideways round the level of 1.26700 since last Friday. The short-term MA20 has crossed over the long-term MA50, confirming a reversal into the downtrend. RSI continued to head down, moving to as low as 44.29, which indicates a market dominated by sellers. The pair is forecast to trade lower to hit a support at 1.26000.

Trade suggestion

Sell Stop at 1.26700, Take profit at 1.26000, Stop loss at 1.27000



GBPJPY


GBPJPY has been edging lower with lower highs and lower lows formed in the price chart. With the price action breaking out of a shrinking trading range from above and sellers jumping into the market (as indicated by RSI index that is at as low as 36.36), the pair is expected to trade lower, likely to test a support at 143.600.

Trade suggestion

Sell Stop at 144.200, Take profit at 143.600, Stop loss at 144.500



WTI



U.S. rebounded higher following a period of trading sideways as the price twisted with a couple of moving averages. The RSI index has been on a rise, hitting as high 57.48, indicating a strengthening bullish momentum in the WTI market. The commodity is anticipated to extend its up move in an attempt to test a resistance at 50.370.

Trade suggestion

Buy Stop at 49.600, Take profit at 50.370, Stop loss at 49.300



GOLD


Gold has inched higher, sending its price action above both the long-term MA50 and the short-term MA20. While the RSI index is soaring to as high as 61.75, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, which suggest further advances for the precious metal. A resistance at 1265.00 is within the sight.

Trade suggestion

Buy Stop at 1261.00, Take profit at 1265.00, Stop loss at 1259.00



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

U.S. Dollar Rallies After JOLTS Job Openings Jump More Than Expected

The U.S. dollar jumped sharply versus all of its major rivals after data showed the number of job openings in the U.S. rose much more than expected in June. The surge in the greenback weighed the pair EURUSD back down the lowest level since last Friday.

Indeed, euro plunged to as low as $1.17600, down more than 0.3 percent on the back of the release of the monthly Job Openings and Labor Turnover Survey on Tuesday. The U.S. Labor Department reported that the number of job openings, excluding the farming industry rose to 6.163 million in June from 5.702 million a month earlier. May’s figure was revised upwards from the original reading of 5.666 million.

June’s reading did not only mark a fresh record but also easily smashed analyst’ forecast calling for an increase to 5.775 million in the number of job openings. The dollar was supported after the data release as it bolstered optimism over an improving U.S. labor market where employers actively seek workers.

Meanwhile, hiring decreased, reflecting the fact that companies are having trouble finding employees with enough skills. As a result, wages are expected to be raised, which would boost spending and send inflation towards the central bank’s target of 2%.

Trade suggestion

Sell Stop at 1.17600, Take profit at 1.17000, Stop loss at 1.17900



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

Marriott Downgrades Q3 Earnings Forecast, Shares Lose 3% in Extended Session

Shares of Marriott International Inc. lost nearly 3% in late trading after having closed the regular trading session 1.1% higher. The hospitality company reported a better-than-expected Q2 earnings but forecasts profit in the current quarter would come below analysts’ expectations.

Marriott shares plunged by 2.99% in after-hours trading to trade at $103.00 per shares after earnings results showed net income of $414 million, or $1.08 a share on sales of $5.8 billion for the three-month period to June 30. This marked an increase from earnings of 97 cents a share on sales of $3.9 billion recorded in the same period last year.

After adjustments for one-time items, the world’s largest hotel chain claimed earnings of $1.13 a share which easily topped market forecast calling for adjusted earnings of $1.01 a share on revenue of $5.64 billion.

Marriott on Monday said it would partner with China’s Alibaba Group Holding Ltd on a travel venture that would allow Chinese travelers to book rooms at Marriott hotels via Alibaba’s travel service platform known as Fliggy.

Despite the plan to aim at the growing number of Chinese citizens travelling abroad who are expected to take an estimated 700 million trips over the next five years, Marriott anticipates its forecast for earnings in the third quarter to be in a range of 96 cents to 99 cents a share, which is slightly lower than analysts’ expectations of $1.01 a share. Revenue the company expects to earn this year from its rooms in North America is forecast to rise between 1 to 2 percent in fiscal 2017, a decrease from its previous forecast of an increase of rise of 1 to 3 percent.

Trade suggestion

Sell Stop at 103.00, Take profit at 100.00, Stop loss at 104.00



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

GBP/AUD

From GMT 06:00 08/08/2017
Till GMT 21:00 08/08/2017

Sell at 1.64550
Take profit at 1.63900
Stop loss at 1.64800

 

[CSFX.Support]

Daily Report on August 09, 2017



Asian shares dropped while investors piled into safe-havens assets such as U.S. Treasuries, gold, Swiss Franc and the yen amidst escalating tensions on the Korean peninsula. MSCI's broadest index of Asia-Pacific shares outside Japan plunged 0.7 percent, while Japanese equities were broadly lower due to the fact that the stronger yen sapped investors' appetite.

Japan's Nikkei index and Topix index fell 1.5 and 1.3 percent, respectively. South Korean shares shed 0.9 percent, while the won sank around 0.7 percent to 1,136.4 to the dollar. By contrast, the Swiss Franc rallied versus most of its rivals, jumping to a one-week high against the U.S. dollar. Gold futures advanced by 0.4 percent to $1,265.32 an ounce, extending their rally after climbing 0.3 percent on Tuesday.

In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is "carefully examining" plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

Crude oil prices remained weak even after the American Petroleum Institute on Tuesday reported that U.S. inventories dropped by 7.893 million barrels at the end of last week, far more than the 2.2 million barrels decline seen. The U.S. Energy Information Administration is scheduled to release its official weekly petroleum status report later in the day.



Technicals

NZDJPY



NZDJPY has been tracing a steep downtrend which sent the currency pair to seven-week lows at 80.413. The price action has breached a significant level at 61.8% Fibonacci retracement while the RSI index has entered the oversold zone. With ADX index has still been on a rise, the pair is expected to test a support at 50.0% Fib. level.

Trade suggestion

Sell Stop at 80.300, Take profit at 79.700, Stop loss at 80.600



GBPUSD


GBPUSD has been moving sideways following a sharp down move that pushed the currency down to the lowest level since July 21st. The pair looked set to tick down further as the market has been dominated by sellers, not to mention downward pressure exerted from two MAs hanging above the price action. A support at 23.6% Fibonacci retracement is expected to be tested.

Trade suggestion

Sell Stop at 1.29700, Take profit at 1.29200, Stop loss at 1.29900



CADJPY


CADJPY has been trading lower, dropping to the lowest level since early-July at 86.626. The pair bounced back a little bit due to a correction after the market had been sent to the oversold zone. However, downbeat moves are forecast to extend as the ADX index continues to point upwards. A support at 86.000 is within the sight.

Trade suggestion

Sell Stop at 86.600, Take profit at 86.000, Stop loss at 86.900



USDCAD


USDCAD extended its up moves following a period of consolidation. With the support from two MAs lingering below the price action, the currency pair is anticipated to inch higher in an attempt to test a resistance at 1.27600. RSI and ADX indices are rising, confirming further upbeat moves.

Trade suggestion

Buy Stop at 1.27000, Take profit at 1.27600, Stop loss at 1.26700



GOLD


Gold futures prices have been trading sideways around the level 1265.00 after having hit the highest level since last Friday. The market has still been dominated by buyers as RSI is at as high as 61.59. With support from two MAs, the precious metal price is forecast to extend its rally to a resistance at 1270.00.

Trade suggestion

Buy Stop at 1265.00, Take profit at 1270.00, Stop loss at 1263.00



DAX 30



Germany’s DAX 30 Index gapped down on Wednesday, sending its price action below both a significant level at 23.6% Fibonacci retracement and two moving averages that had been lingering below the price action. RSI fell below the level 50, indicating a strengthening bearish momentum in the market. A support at 12090.00 is expected to be tested.

Trade suggestion

Sell Stop at 12200.00, Take profit at 12090.00, Stop loss at 12250.00



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

Swiss Franc Advances to One-week Highs Against Dollar Amid Escalating Geopolitical Tensions

The Swiss Franc rallied versus most of its rivals, jumping to a one-week high against the U.S. dollar amidst rising geopolitical tensions stemming from the Korean Peninsula.

The pair USDCHF plunged more than 0.7 percent in Asian trading session to trade near the lowest level in one week at 0.96688 franc. The currency recovered a little bit following a retreat to 0.96566 – its weakest since August 02nd as geopolitical tensions have ramped up.

In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

Trade suggestion

Sell Stop at 0.96650, Take profit at 0.96300, Stop loss at 0.96800


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

Investors Flock Into Safe-havens Assets, Gold Jumps The Most in Two Months

Gold futures rallied on Wednesday as investors moved toward safety plays amidst escalating tension between North Korea and the U.S. that dragged down U.S. shares. U.S. stock benchmark index extended a modest retreat from record levels logged earlier this week.

The precious metal surged 1.24 percent to trade at $1,272.00 an ounce in North American trading session, looking set to record the biggest jump in two months. Investors piled into safe-havens assets like gold as geopolitical tensions have ramped up, sapping investors’ appetite for risky investments.

In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

The Dow Jones Industrial Average lost nearly 0.3 percent, the S&P 500 index shed 0.36 percent while the Nasdaq Composite Index even declined more sharply, slipping more than 0.7 percent.

Trade suggestion

Buy Stop at 1273.00, Take profit at 1278.00, Stop loss at 1271.00



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

AUD/NZD

From GMT 08:30 09/08/2017
Till GMT 21:00 09/08/2017

Buy at 1.07800
Take profit at 1.08200
Stop loss at 1.07600

 

[CSFX.Support]

Daily Report on August 10, 2017



Asian shares pared early gains to reverse lower on Thursday as investors have still been under pressure stemming from tension surrounding the Korean peninsula. The MSCI Asia Pacific Index was little changed while Japanese shares were mixed. The Nikkei 225 Stock Average added 0.1 percent and the Japan’s Topix index was little changed.

Australian equities climbed with the Australia’s S&P/ASX 200 Index advancing 0.4 percent. By contrast, South Korea’s benchmark gauge extended declines with the Kospi index falling 0.2 percent following a decline of 1.1 percent on Wednesday. European stocks also fell on Thursday. While the The Stoxx Europe 600 shed 0.49%, Germany’s DAX 30 index and France’s CAC 40 index slipped 0.69% and 0.36%, respectively.

Crude oil prices advanced on Thursday after data showed U.S. crude inventories fell more than expected last week. The Energy Information Administration on Wednesday reported that U.S. crude stockpiles dropped by 6.5 million barrels last week, which was steeper than the expected decrease of 2.7 million barrels. However, refineries were reported to boost their output to the highest percentage of capacity in 12 years with nearly 17.6 million barrels of crude last week.

According to data released by the Cabinet Office, Japan's core machinery orders unexpectedly inched lower for a third consecutive month in June. Core orders were posted to have decreased 1.9 percent in June from the previous month following a 3.6 percent tumble in May.



Technicals

NZDUSD



NZDUSD has been under downward pressure exerted by two MAs that are hanging above the price action, especially the short-term MA20. The price action failed to cross over this dynamic resistance and has even fallen to as low as 0.72600 - the lowest level since July 18th. With a market dominated by sellers, the pair is expected to test a support at 38.2% Fibonacci retracement.

Trade suggestion

Sell Stop at 0.72600, Take profit at 0.72000, Stop loss at 0.72900



EURJPY


EURJPY’s price action has breached a significant level at 61.8% Fibonacci retracement after having failed to surpass a resistance at 129.500. The pair retested a low of 128.650 and looked set to extend its downtrend. While the RSI index is pointing lower, the ADX index is on a rise with a widening gap between the -DI and +DI lines, signaling further declines for the pair.

Trade suggestion

Sell Stop at 128.600, Take profit at 128.100, Stop loss at 128.800



AUDNZD



AUDNZD has been on a sharp uptrend which sent its price action above the 61.8% Fibonacci retracement. The pair is retesting a high at 1.08453 – the highest level since July 20th. With the support from two MAs lingering below the price action, the pair is anticipated to trade higher, likely to attempt a resistance at 1.09000.

Trade suggestion

Buy Stop at 1.08500, Take profit at 1.09000, Stop loss at 1.08300



Natural Gas



Natural gas futures prices have been trading around a level at 2.8800 after having surged to the highest level since July 31st. After a short correction, the price extended its rally. While the RSI index is soaring to as high as 68.06, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, which suggest further advances for the commodity

Trade suggestion

Buy Stop at 2.8950, Take profit at 2.9500, Stop loss at 2.8700



SILVER



Silver has been tracing a strong uptrend after having surpassed a resistance at 16.850. As can be seen from the chart, the RSI index has been on a rise, hitting a high of 76.31, indicating a strengthening bullish momentum in the WTI market. ADX index is also edging higher, signaling further advances.

Trade suggestion

Buy Stop at 17.060, Take profit at 17.260, Stop loss at 16.960



FTSE 100


After a period of moving sideways above the level of 7480.00, U.K.’s FTSE 100 index gapped down and fell into a shrinking trading range. The price action also crossed over both the short-term MA20 and the long-term MA50 from above, suggesting a reversal into a downtrend. A support at 7360.00 is within the sight.

Trade suggestion

Sell Stop at 7410.00, Take profit at 7360.00, Stop loss at 7435.00

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

RBNZ To Hold Rates Until Q3 2019, New Zealand Dollar Sinks

New Zealand dollar lost ground versus most of its peers on Thursday after its central bank held interest rates at a record low for a fifth consecutive time and announced that the rate might not be hiked in the next two years due to weak inflation.

The kiwi dropped more than 0.4 percent against its American counterpart to trade at $0.7308 – the lowest level since July 18th. In a statement after the Reserve Bank of New Zealand (RBNZ) having kept the official cash rate at 1.75 percent, Governor Graeme Wheeler said that “Monetary policy will remain accommodative for a considerable period”.

New Zealand’s inflation slowed to 1.7 percent in the June quarter after a rise of 2.2 percent in the three-month period to March which marked the first time in five years that inflation returned to the central bank 2 percent goal. For the first quarter of 2018, RBNZ forecast the rate would decline to 0.7 percent – lower than it previously expected.

Meanwhile, a strong New Zealand dollar continues to put pressure on import prices and suppresses inflation. Governor Graeme Wheeler claimed that “A lower New Zealand dollar is needed to increase tradables inflation and help deliver more balanced growth,” given the fact that the local dollar has added 6 percent so far this year.

Trade suggestion

Sell Stop at 0.73000, Take profit at 0.72600, Stop loss at 0.73200


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

GBP/JPY

From GMT 07:00 10/08/2017
Til GMT 21:00 10/08/2017

Sell at 142.600
Take profit at 142.000
Stop loss at 142.900

 

[CSFX.Support]

Daily Report on August 11, 2017



Asian shares tumbled on Friday, extending a global stock sell-off after a U.S. slump overnight. Tensions ramped up between the U.S. and North Korea, causing investors to flee into less risky assets such as the Japanese Yen, gold and U.S. government bonds. Overnight, Wall Street closed sharply lower with the Nasdaq dropping 2.1 percent while the S&P 500 and the Dow Jones Industrial Average pulling back 1.4 percent and 0.9 percent, respectively.

Escalating tension between the U.S. and North Korea continued to dominate sentiment in financial markets after U.S. President Donald Trump on Thursday warned Pyongyang against attacking U.S. Pacific territory of Guam or U.S. allies. Stocks tumbled in Asia with MSCI's broadest index of Asia-Pacific shares outside Japan shedding 0.6 percent in its third session of declines. The stock benchmark index looked set to close the week 1.5% lower.

Equities in Australia and South Korea were also on a decline. While Australia’s S&P/ASX 200 Index fell 1 percent, South Korea’s Kospi index slipped 1.5 percent. The Hang Seng Index in Hong Kong gapped down by 1.5 percent while China’s Shanghai Composite Index also traded lower. Contracts on the S&P 500 Index lost less than 0.1 percent after the underlying index suffered from its steepest slide since May 17 on Thursday.

The Australian dollar slipped versus its American counterpart after RBA governor Philip Lowe on Friday said that interest rates would rise over time, although not for a while given the fact that low wage growth, high debt and energy prices are putting pressure on consumer spending.



Technicals

AUDUSD



The pair AUDUSD extended its downtrend following a period of moving sideways that had caused the price to move around a level at 0.78900. Under downward pressure exerted by two MAs which have been lingering above the price action, the pair is expected to trade lower and is likely to test a support at 0.77850. RSI is pointing downward, confirming the downtrend.

Trade suggestion

Sell Stop at 0.78400, Take profit at 0.77850, Stop loss at 0.78650



NZDUSD


NZDUSD retested a support at 0.72600 after a short correction as recent down moves had sent the market into the oversold zone, as indicated by the RSI index which is at as low as 28.48. As can be seen from the ADX chart, ADX index is edging higher with a widening gap between –DI and +DI lines. With pressure from two MAs, the pair is anticipated to trade as low as the 38.2% Fibonacci retracement.

Trade suggestion

Sell Stop at 0.72500, Take profit at 0.72000, Stop loss at 0.72700



EURJPY


EURJPY continued to inch lower after having fallen from a firm support of 128.600 – the level that has restrained the pair from falling lower since July 13th. While RSI index is heading lower, ADX is on a rise with a widening distance between –DI and +DI lines, signaling further declines for the currency pair.

Trade suggestion

Sell Stop at 128.250, Take profit at 127.800, Stop loss at 128.400



BRENT


Brent crude has been tracing a sharp uptrend after having soared to as high as 53.610 – the highest level since May 25th. The price action has crossed over both the long-term MA50 and the short-term MA20, confirming a reversal into a downtrend. A support at 23.6% Fibonacci retracement is within the sight.

Trade suggestion

Sell Stop at 51.700, Take profit at 50.900, Stop loss at 52.100



FTSE 100


FTSE 100 index on Thursday did not only fell back into a shrinking trading range which connects lower highs and higher lows but also breach out of this range from above. The stock benchmark index is posed to trade lower with a support at 7305.00 within the sight. While RSI index is heading lower, ADX is rising with a widening gap between –DI and +DI lines, signaling further down moves.

Trade suggestion

Sell Stop at 7345.00, Take profit at 7305.00, Stop loss at 7365.00



S&P 500 Index


SP500 fell sharply on Thursday and looked set to extend its down moves in the last trading session of the week. While the RSI index has jumped into the oversold zone, ADX index continued to move higher. The index is anticipated to attempt a firm support at 2420.00.

Trade suggestion

Sell Stop at 2434.00, Take profit at 2420.00, Stop loss at 2340.00



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

Yen Soars to Two-month Highs versus Dollar As U.S.- North Korea Tensions Escalate

Asian shares tumbled on Friday, extending a global stock sell-off after a U.S. slump overnight. Tensions ramped up between the U.S. and North Korea, causing investors to flee into less risky assets such as the Japanese Yen.

The Yen gained ground versus the U.S. dollar on Friday, sending the pair USDJPY lower for a fourth session in a row. Overnight, Wall Street closed sharply lower with the Nasdaq dropping 2.1 percent while the S&P 500 and the Dow Jones Industrial Average pulling back 1.4 percent and 0.9 percent, respectively.

Escalating tension between the U.S. and North Korea continued to dominate sentiment in financial markets after U.S. President Donald Trump on Thursday warned Pyongyang against attacking U.S. Pacific territory of Guam or U.S. allies. Earlier this week, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward Guam.

Stocks tumbled in Asia with MSCI’s broadest index of Asia-Pacific shares outside Japan shedding 0.6 percent in its third session of declines. The stock benchmark index looked set to close the week 1.5% lower. Investors headed for havens like Yen in times of geopolitical tension as Japan is the world’s biggest creditor nation and it has big current account surpluses.

The pair USDJPY lost 0.12 percent to trade at 109.07 yen – the lowest level since June 14th – in the first half of Asian trading session.

Trade suggestion

Sell Stop at 109.000, Take profit at 108.600, Stop loss at 109.200


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

AUD/JPY

From GMT 09:00 11/08/2017
Till GMT 21:00 11/08/2017

Sell at 85.500
Take profit at 85.000
Stop loss at 85.700

 

[CSFX.Support]

Daily Report on August 14, 2017



Tracing upbeat sentiments on Wall Street as U.S. closed the week higher last Friday, Asian shares reversed losses on Monday following three losing sessions in a row. MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.7 percent after having fallen for three straight days previously due to escalating tensions between the United States and North Korea. Australian stocks also advanced, adding 0.5 percent.

While South Korea's KOSPI index rose 0.4 percent, Hong Kong's Hang Seng index climbed 0.8 percent and Shanghai Composite index edged 0.2 percent higher. By contrast, Japanese equities bucked the trend on the back of a stronger yen. Japan's Nikkei and Japan’s Topix index both fell around 1 percent. Futures on the S&P 500 Index added 0.3 percent after the underlying gauge lost 1.4 percent last week.

According to data released by the National Bureau of Statistics, China's factory output slowed more than expected in July. On a yearly basis, factory output was reported to rise 6.4 percent last month - the slowest pace since January. The reading decreased from 7.6 percent recorded in June and missed forecast calling for a rate of 7.2 percent in July. China’s fixed-asset investment expanded 8.3 percent in the first seven months amidst expectations calling for growth of 8.6 percent.

Earlier on Monday, Statistics New Zealand published a report that indicated the country’s retail sales rose better than expected in the second quarter. As stated by the report, New Zealand reported retail sales jumped 2.0% in the second quarter compared to a three-month period to March. The figure far exceeded a 0.7% rise expected by economists.



Technicals

USDJPY


USDJPY has been on a steady rise with recent upbeat moves sending the pair’s price action above both short-term MA20 and long-term MA50. Both ADX index and RSI index are edging higher with a widening distance between the +DI and –DI lines. The currency pair is anticipated to advance further. A resistance at 110.100 is within the sight.

Trade suggestion

Buy Stop at 109.600, Take profit at 110.100, Stop loss at 109.350



AUDUSD


AUDUSD reversed lower after having failed to cross over a dynamic resistance at the long-term MA50. The pair also fell below a support at 0.78900 and sent the price into the negative zone, as indicated by the RSI index that had inched to as low as 44.24. With downward pressure exerted by two MAs that are hanging above the price action, the pair is expected to test a support at 0.78100.

Trade suggestion

Sell Stop at 0.78700, Take profit at 0.78100, Stop loss at 0.79000



USDCAD


The currency pair USDCAD bounced back from a support at 1.26700 and is trading higher in an attempt to test a resistance at 1.27500. Recent up moves keeps the RSI index in the positive territory while sending the price action above the short-term MA20, indicating a strengthening bullish momentum in the market.

Trade suggestion

Buy Stop at 1.27100, Take profit at 1.27500, Stop loss at 1.26900



GOLD



Gold extended its down moves after having failed to bring its price action above a couple of MAs. The precious metal’s price eventually fell below the long-term MA50 and is heading lower towards a support at 1275.00. While RSI index is tumbling, ADX index is on a rise with a widening distance between the –DI and +DI lines.

Trade suggestion

Sell Stop at 1281.00, Take profit at 1275.00, Stop loss at 1284.00



COPPER


Copper has been tracing a downtrend after reversing lower from a resistance at 2.9160. The price action has penetrated a couple of MAs from above, confirming the downtrend. While RSI index continues to point downwards, ADX index is ticking higher, signaling further advances for the commodity’s prices.

Trade suggestion

Sell Stop at 2.8900, Take profit at 2.8700, Stop loss at 2.9000



DOW JONES 30



U.S. Dow Jones 30 Index has been tracing an uptrend with support from two moving averages. The price action has crossed over the long-term MA50 from below, which confirmed the uptrend. Further upbeat moves are expected as the RSI index is soaring while ADX index, which is also on a rise, is witnessing a widening gap between +DI and –DI lines.

Trade suggestion

Buy Stop at 21945.00, Take profit at 22050.00, Stop loss at 21900.00

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

North Korea Tensions Ease, S&P500 Index Jumps Most Since Late-June

U.S. shares advanced on Monday, recovering from last week’s sharp losses caused by tensions between the U.S. and North Korea. While the Dow Jones Industrial Average jumped more than 0.7 percent, the Nasdaq Composite Index soared more than 1.2 percent.

Tensions over North Korea eased thanks to comments from U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson that showed Trump administration was seeking diplomatic solutions to achieve the “irreversible denuclearization” of North Korea.

The S&P 500 index also climbed more than 1 percent on Monday, supported by technology and financial shares. All of the S&P 500 index’s primary sectors gaining on the day, helping the stock gauge recover from the biggest one-week percentage drop of 1.4% last week since March.

The index also looked set to record the biggest one-day percentage rise since June 28th. Topping the market, technology sector jumped 1.4% while financial sector advanced 1.48%.

Trade suggestion

Buy Stop at 2465.00, Take profit at 2475.00, Stop loss at 2460.00


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

Global Shares and Dollar Strengthen As Geopolitical Concerns Ease, Gold Ticks Down

Gold futures price edged lower on Monday as global shares and U.S. dollar advanced, recovering from last week’s sharp losses caused by tensions between the U.S. and North Korea. Tracing upbeat moves of Asian shares, European stocks and U.S. equity futures rose, driving market appetite away from safe-havens to more risky assets.

The Stoxx Europe 600 index jumped nearly 0.9 percent, partly paring a loss of 2.7% it suffered last week. The pan-European benchmark looked set to close higher for the first time following three days of declines in a row which sent the index to the lowest level since late February last Friday.

While Germany’s DAX 30 index DAX soared more than 1.10% to trade at 12,145.54, France’s CAC 40 index added +0.95% and the U.K.’s FTSE 100 index climbed 0.59%. Tensions over North Korea eased thanks to comments from U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson that showed Trump administration was seeking diplomatic solutions to achieve the “irreversible denuclearization” of North Korea.

Gold futures for September delivery lost nearly 0.7 percent to trade at $1280.00 an ounce also because the greenback strengthened. The U.S. Dollar Index which measures the currency against a half-dozen rivals, jumped 0.28 percent to 93.34. The precious metal had risen to its highest since June 6 at $1,298.10 in the prior session.

Trade suggestion

Sell Stop at 1280.00, Take profit at 1275.00, Stop loss at 1282.00


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

USD/CHF

From GMT 04:30 14/08/2017
Till GMT 21:00 14/08/2017

Buy at 0.96500
Take profit at 0.96900
Stop loss at 0.96300

 

[CSFX.Support]

Daily Report on August 15th, 2017



Japanese Yen extended losses versus its American counterpart to a third consecutive trading session on Tuesday as global shares continued to advance, sapping investors’ appetite for safe-haven assets like the Yen. As the prospect of war between the U.S. and North Korea receded, Asian shares traded higher, tracing gains on Wall Street overnight.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent while Japan’s Topix index surged 1.2 percent. Stock indexes from Hong Kong to Sydney were also on a rise with Hong Kong’s Hang Seng index adding 0.4 percent and Australia’s S&P/ASX 200 Index gaining 0.7 percent. The Shanghai Composite Index also traded higher, climbing 0.6 percent.

Futures on the S&P 500 advanced by 0.3 percent in Asian morning session after the underlying gauge closed 1 percent higher on Monday. A report from Korean Central News Agency (KCNA) on Tuesday showed that Kim Jong Un praised the military for drawing up a “careful plan” to fire missiles toward Guam but also decided not to launch a threatened missile attack on Guam, saying that saying he would watch the U.S.’s conduct “a little more.”

Crude oil prices remained weak on Tuesday following a decline of 2.5 percent in the previous session. Official data released on Monday showed that in July Chinese oil refineries operated at their lowest daily rates since September 2016. As the world's second-largest oil user, China’s demand concerns weighed down crude prices.



Technicals

AUDUSD



As can be seen from the price chart, the currency pair AUDUSD has been under downward pressure from two MAs that are hanging above the price action. With the RSI index heading downward while ADX index edging higher, not to mention a widening gap between –DI and +DI lines, the pair is expected to trade lower and test a support at 0.77800.

Trade suggestion

Sell Stop at 0.78300, Take profit at 0.77800, Stop loss at 0.78500



USDCAD



The pair USDCAD retested a firm resistance at 1.27500 after having failed to surpass this level last Friday. Two moving averages are lingering below the price action, supporting the pair to inch higher. Both RSI and ADX indices are advancing, whereas, the distance between +DI and –DI lines is widening, confirming the uptrend.

Trade suggestion

Buy Stop at 1.27500, Take profit at 1.27900, Stop loss at 1.27300



CHFJPY



CHFJPY rebounded from a strong support at as low as 112.650. Recent up moves did not only send the price action above a couple of MAs but also helped the pair to cross over a firm resistance at 113.900. Both the RSI and ADX indices are edging higher while the gap between +DI and –DI lines are widening, the pair is expected to trade higher.

Trade suggestion

Buy Stop at 113.600, Take profit at 114.100, Stop loss at 113.400



GBPUSD



As can be seen from the chart, the pair GBPUSD has been depressed by two MAs that are hanging above the price action. The pair is testing a significant level at 23.6% Fibonacci level and looks set to break out of this level to test a support at 1.28500. RSI has fallen into the oversold zone, while ADX index is on a strong rise, signaling further declines.

Trade suggestion

Sell Stop at 1.29100, Take profit at 1.28500, Stop loss at 1.29400



WTI



U.S. crude oil price resumed the downtrend after a short correction. The commodity has been under downward pressure from two MAs hanging above the price after having failed to cross over these two dynamic resistances. A support at 46.700 is within the sight as RSI and ADX indices are signaling further declines.

Trade suggestion

Sell Stop at 47.400, Take profit at 46.700, Stop loss at 47.700



Natural Gas



Natural Gas fell below the short-term MA20 after being supported by this moving average for a while. Both RSI and ADX indices are heading lower, which indicates a weakening bullish force in the market. The commodity is anticipated to retreat in an attempt to test a support at 2.8950.

Trade suggestion

Sell Stop at 2.9400, Take profit at 2.8950, Stop loss at 2.9600



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

Global Shares Advance, Diverting Flows Away From Haven Assets, Yen Inches Lower

Japanese Yen extended losses versus its American counterpart to a third consecutive trading session on Tuesday as global shares continued to advance, sapping investors’ appetite for safe-haven assets like the Yen.

The currency pair USDJPY surged more than 0.5 percent on Tuesday to 110.19 yen per dollar following a rise of 0.4 percent on Monday. As the prospect of war between the U.S. and North Korea receded, Asian shares traded higher, tracing gains on Wall Street overnight.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent while Japan’s Topix index surged 1.2 percent. Stock indexes from Hong Kong to Sydney were also on a rise with Hong Kong’s Hang Seng index adding 0.4 percent and Australia’s S&P/ASX 200 Index gaining 0.7 percent.

A report from Korean Central News Agency (KCNA) on Tuesday showed that Kim Jong Un praised the military for drawing up a “careful plan” to fire missiles toward Guam but also decided not to launch a threatened missile attack on Guam, saying that saying he would watch the U.S.’s conduct “a little more.”

Futures on the S&P 500 advanced by 0.3 percent in Asian morning session after the underlying gauge closed 1 percent higher on Monday.

Trade suggestion

Buy Stop at 110.250, Take profit at 110.900, Stop loss at 110.000


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

British Pound Declines Further After U.S. July Retail Sales Data Smash Expectations

British Pound tumbled against its American counterpart on Tuesday after U.K. inflation came in softer than expected while U.S. retail sales data beat expectations.

The currency pair GBPUSD dropped nearly 0.89% to plunge to $1.28500 – the lowest level since July 12th. The Office for National Statistics reported that British inflation remained unchanged at 2.6% in July which missed analysts’ expectation calling for a 2.7% reading. Inflation had risen to a four-year high of 2.9% in May but cooled to a rate of 2.6% in the next two months.

Meanwhile, U.S. Census Bureau released July data that showed retail sales rise 0.6% on the month, compared with 0.4% expected. Core retail sales were reported to advance by 0.5% on a monthly basis, also topping forecast for a rise of 0.3%.

Trade suggestion

Sell Stop at 1.28450, Take profit at 1.28000, Stop loss at 1.28650


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

GBP/JPY

From GMT 11:30 15/08/2017
Till GMT 21:00 15/08/2017

Sell at 142.000
Take profit at 141.400
Stop loss at 142.300

 

[CSFX.Support]

Daily Report on August 16, 2017



Asian shares were mixed on Wednesday, struggling for direction while European stocks opened higher. In Japan, the Nikkei Stock Average index edged 0.12 percent lower while Topix index was little changed. Futures on the S&P 500 Index were little changed on Wednesday after the underlying gauge closed down 0.1 percent on Tuesday. The Nasdaq Composite also dropped 0.1 percent but the Dow Jones Industrial Average closed higher.

South Korean shares, however, climbed 0.5 percent as traders returned from a public holiday. South Korean President Moon Jae-in on Tuesday called for renewed talks with the North, saying that the U.S. would need Seoul’s consent for any military action on the Korean Peninsula. His comments helped ease tensions which had caused a global share sell-off last week.

Australia’s S&P/ASX 200 reversed higher, adding nearly 0.5% after having retreated 0.1 percent. Leading losses and weighing down the overall performance, Singapore’s Straits Times Index fell as much as 1.1 percent on Wednesday due to the fact that banks and interest-rate sensitive stocks tumbled. The Hang Seng Index jumped 0.6 percent in Hong Kong, whereas, the Shanghai Composite Index inched 0.2 percent lower.

Crude oil futures price advanced on Wednesday after the American Petroleum Institute (API) on Tuesday reported U.S. inventories dropped by 9.16 million barrels at the end of last week. The figure did not only mark an 11th straight drawdown but also topped market expectations calling for a retreat of 3 million barrels. Official data from the Energy Information Administration (EIA) will be released later in the day.



Technicals

USDJPY



USDJPY resumed its uptrend after a period of consolidation around a significant level of 23.6% Fibonacci retracement. While the RSI index has inched to as high as 66.69, the ADX index has been on a strong surge with a widening distance between the +DI and –DI lines. The pair is anticipated to test a resistance at 111.300.

Trade suggestion

Buy Stop at 110.900, Take profit at 111.300, Stop loss at 110.700



GBPAUD


Under downward pressure exerted by two MAs hanging above the price action, the pair is trading lower. While the RSI index has inched to as low as 30.24, the ADX index has been on a strong rise with a widening gap between the +DI line and the –DI line, signaling further declines for the currency pair. GBPAUD is expected to test a support at 1.63000.

Trade suggestion

Sell Stop at 1.63700, Take profit at 1.63000, Stop loss at 1.64000



AUDNZD



AUDNZD retested a strong resistance at 1.08450 – the level which caused the pair to retreat on July 20th and August 10th. With the support from two MAs lingering below the price action, the pair is expected to break out of this resistance to attempt a significant level at 1.09000. Rising ADX and RSI indices confirm further upbeat moves.

Trade suggestion

Buy Stop at 1.08500, Take profit at 1.09000, Stop loss at 1.08300



Natural Gas



Natural Gas has been trading a steady downtrend after its price action penetrated the short-term MA20 from above. A bearish force has been strengthening in the market, as indicated by the RSI index that has dropped to as low as 41.08. The ADX index is inching higher, signaling that the commodity may fall further.

Trade suggestion

Sell Stop at 2.9000, Take profit at 2.8450, Stop loss at 2.9250



DOW JONES 30


U.S. Dow Jones 30 index resumed its uptrend following a short correction. The price action once again penetrated the long-term MA50 from below and retested a high at 22041.00 logged yesterday. RSI continued to head higher, indicating a strengthening bullish momentum in the market. The stock benchmark index is forecast to test a resistance at 22130.00.

Trade suggestion

Buy Stop at 22050.00, Take profit at 22130.00, Stop loss at 22010.00



CAC40


With the support from two MAs that are hanging below the price action, the CAC 40 index looks set to break out of a slopping downward trading range that connects lower highs and higher lows. While the RSI is rising, ADX is also on a rise with a widening gap between +DI and –DI lines, suggesting further up moves for the index.

Trade suggestion

Buy Stop at 5185.00, Take profit at 5220.00, Stop loss at 5165.00

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

ECB President Mario Draghi Disappoints, EURUSD Extends Losses

The euro lost ground broadly versus its peers on Wednesday after Reuters reported that European Central Bank’s President Mario Draghi would not deliver any new policy messages at the U.S. Federal Reserve’s Jackson Hole conference.

The single currency fell for the third day in a row versus its American counterpart. The pair EURUSD edged 0.32 percent lower to trade at $1.16900.

The report published by Reuters on Wednesday poured cold water on any hopes for the ECB’s Governor to announce plans to scale back its monetary stimulus program at the U.S. Federal Reserve symposium next week. The source reported that Draghi would focus on fostering a dynamic global economy, which is the theme of the conference due to be held on August 25th, and therefore, may keep any policy discussion until the fall.

Trade suggestion

Sell Stop at 1.16800, Take profit at 1.16300, Stop loss at 1.17050


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Crude Oil Futures Trade Lower As Weekly U.S. Production Jumps To Two-year Highs

Crude oil futures reversed lower on Wednesday after the Energy Information Administration reported that domestic production jumped to the highest weekly level in over two years.

U.S. West Texas Intermediate crude for September delivery shed more than 0.5 percent to trade at $47.26 a barrel on the New York Mercantile Exchange. The Energy Information Administration on Wednesday released data that showed supplies of crude oil fell by 8.9 million barrels in the week ended Aug. 11.

The reading did not only remark a seventh-straight weekly decline in U.S. crude supplies but was also more than double than the drop of 3.6 million barrels expected by analysts.

However, the report pointed to a rise of 79,000 barrels a day in total crude-oil production to 9.502 million barrels a day last week. According to EIA figures, that was the highest weekly output figure since mid-July 2015.

Trade suggestion

Sell Stop at 47.25, Take profit at 46.70, Stop loss at 47.50



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EUR/NZD

From GMT 12:30 16/08/2017
Till GMT 21:00 16/08/2017

Sell at 1.61300
Take profit at 1.60700
Stop loss at 1.61600

 

[CSFX.Support]

Daily Report on August 17, 2017



Asian shares were mixed on Thursday while European equities drifted lower. While Japan’s Nikkei finished down 0.1%, the Stoxx Europe 600 Index and U.K.’s FTSE 100 Index both decreased 0.3 percent. Hong Kong's Hang Seng index was also almost unchanged at 27,400.17. The S&P/ASX 200 was also flat at 5,785.80. Meanwhile, South Korea's Kospi index and Shanghai Composite index added gained 0.5 percent and 0.4 percent, respectively.

The Australian Bureau of Statistics (ABS) on Thursday reported that the country’s unemployment rate fell to 5.6 percent with the creation of nearly 28,000 jobs in July. According to the report, ABS revised up June's unemployment figure to 5.7 percent. Among 27,900 jobs added to the economy last month, part-time jobs added 48,200 while full-time jobs witnessed a fall of 20,300.

Whereas, data released by the Office for National Statistics showed U.K. retail sales grew only modestly in July while the previous month's growth was revised down significantly. ONS latest figures pointed to a rise of 0.3% in sales in July, matching the new June figure which was revised down from the original reading of 0.6%. On a yearly basis, retail sales grew by 1.3%, falling short of expectations for a 1.7% expansion.

The Labor Department on Thursday released data on initial jobless claims that showed the number of Americans who sought unemployment benefits in mid-August fell to the lowest level in six months. As stated by the report, U.S. initial jobless claims declined by 12,000 to 232,000 last week.



Technicals

EURUSD



EURUSD reversed lower after having failed to cross over a pair of MAs that are lingering above the price action. The pair retested a support at 1.16850 and looks set to trade lower as the market has been dominated by sellers. RSI index continued to point to the oversold zone, while ADX index has been on a rise, indicating a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 1.16800, Take profit at 1.16200, Stop loss at 1.17100



EURJPY


EURJPY extended its down ticks to officially break out of a significant support at 61.8% Fibonacci level. The pair has been under downward pressure exerted by two MAs hanging above the price action. While RSI index is pointing downwards, ADX index is on a rise, suggesting further declines. A support at 128.100 is within the sight.

Trade suggestion

Sell Stop at 128.700, Take profit at 128.100, Stop loss at 129.000



S&P500


U.S. SP500 Index extended the downtrend after its price action crossed over a pair of MAs from above. The stock benchmark index retested a support at 2450.00 but is posed to fell below this level as the bearish momentum is becoming strengthened in the market, as indicated by the RSI index that has dropped to as low 37.96.

Trade suggestion

Sell Stop at 2450.00, Take profit at 2434.00, Stop loss at 2458.00



Dow Jones


U.S. Dow Jones 30 index declined after struggling for direction as the price had been supported by a couple of MAs. The price action penetrated these two dynamic supports from above, heading towards a support at 21820.00. The RSI index has fallen to as low as 41.83, confirming the downtrend.

Trade suggestion

Sell Stop at 21940.00, Take profit at 21820.00, Stop loss at 22000.00



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Wal-Mart Shares Edge Lower As Sam’s Club Sales Fail to Hit Forecasts

Shares of Wal-Mart Stores Inc. dropped more than 2% in pre-market trading on Thursday after the retailing corporation reported second-quarter earnings and sales that topped Street expectations, but Sam’s Club sales fell below expectations.

Wal-Mart shares lost 2.84% to trade at $78.68 per shares after the retailer posted net income of $2.90 billion, or 96 cents per share for the three-month period to July, down from $3.78 billion, or $1.21 per share, for the same period last year.

Revenue was reported to reach $123.4 billion, up from $120.9 billion recorded one year ago and ahead of the $122.8 billion expected by analysts. Same-store sales soared 1.8%, with traffic growing 1.3% for the quarter. Online sales, which added 70 basis points to comparable sales, were said to grow 60 percent, decelerating from the 63-percent growth rate in the previous quarter.

Sam’s Club sales rose to $14.9 billion last quarter from $14.5 billion last year, but failed to reach analysts’ forecast for a rise to $14.8 billion.

Trade suggestion

Sell Stop at 78.65, Take profit at 78.00, Stop loss at 79.00


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

Cisco Shares Tick Down After Fiscal Q1 Revenue Downgraded

Shares of Cisco Systems Inc. dropped in after-hours trading on Wednesday after the technology conglomerate forecast another drop in revenue in the next quarter.

Cisco shares plunged by 2.5 percent to trade at $31.53 a share after having closed the regular session up 0.8%. Cisco reported earnings of $2.4 billion, or 48 cents a share, in the fiscal fourth quarter, slightly lower than $2.8 billion, or 56 cents a share, in the year-ago period.

Adjusted for one-time items, the networking company earned $3.1 billion, or 61 cents a share, in line with expectations calling for adjusted earnings of 61 cents a share. Revenue was reported to fall 4% to $12.1 billion in the quarter, from $12.6 billion a year ago.

Cisco anticipates that fiscal first-quarter revenue to fall between 3% and 1% year-over-year, which would send adjusted per-share earnings to the range between 59 cents and 61 cents for the quarter.

Trade suggestion

Sell Stop at 31.50, Take profit at 31.00, Stop loss at 31.70


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

EUR/CAD

From GMT 09:00 17/08/2017
Till GMT 21:00 17/08/2017

Sell at 1.48100
Take profit at 1.47500
Stop loss at 1.48400

 

[CSFX.Support]

Daily Report on August 18, 2017



Asian stock investors joined a global retreat from riskier assets on Friday. While doubts about U.S. President Donald Trump's ability to deliver his economic agenda are growing, terrorist attack in Barcelona on Thursday contributed to shake investors’ confidence. At the close in NYSE, the Dow Jones Industrial Average dropped 1.24%, while the S&P 500 index shed 1.54%, and the NASDAQ Composite index lost 1.94%.

Tracing downticks in U.S. stocks on Wall Street in the previous session, the MSCI's broadest index of Asia-Pacific shares outside Japan declined 0.7 percent while Japanese equities, which were dragged down by a strengthening yen, also traded lower. Japan’s Topix index fell 1.1 percent and Japan's Nikkei slid 1 percent, looking set to lose 1.3 percent for the week.

A terror attack on Thursday in Barcelona, which left 13 people dead and more than 100 injured, was a reminder that geopolitical risks remain a threat. The driver was reported to ram a van into pedestrians in the section of Las Ramblas - Barcelona’s most iconic avenue- before jumping out of the van and fleeing the scene. Police in Spain are still hunting the suspected terrorist.

Political turmoil in the U.S. was another caused that created uncertainty for investors to pullback and capitalize on their gains. U.S. President Donald Trump on Thursday did not only decry the removal of pro-slavery Civil War Confederacy monuments in Charlottesville, Virginia, but also unleashed attacks on two Republican U.S. senators, Jeff Flake and Lindsey Graham.

A spate of unfortunate events mounted concerns over Trump’s ability to work with lawmakers in his own party to win passage of his stimulus plans, such as tax cuts and infrastructure spending.



Technicals

GBPAUD


GBPAUD reversed lower after having failed to cross over the short-term MA20. The currency pair is anticipated to retest a firm support at 1.62000 – the level that forced the price to rebound in the previous session. RSI is heading towards the oversold zone, indicating a strengthening bullish momentum in the market.

Trade suggestion

Sell Stop at 1.62700, Take profit at 1.62000, Stop loss at 1.63000



Natural Gas


Natural Gas futures prices retreated after the commodity failed to sustained its bullish momentum. The pair is tracing a couple of MAs to edge lower and has fallen below these two dynamic supports. RSI index is declining, signaling further downticks for the commodity price.

Trade suggestion

Sell Stop at 2.9000, Take profit at 2.8680, Stop loss at 3.9150



SILVER


Having supported by two MAs that are lingering below the price action, silver rebounded higher to retest a two-month high at 17.200 that the precious metal has failed to surpass since August 10th. RSI remained in the positive territory, showing that the market has been dominated by buyers. A resistance at 50.0% Fibonacci retracement is within the sight.

Trade suggestion

Buy Stop at 17.200, Take profit at 17.400, Stop loss at 17.100



CAC 40 Index


France’s CAC 40 index has still been trapped in a slopping downward trading range that connects lower lows and lower highs. The price action once again fell below a significant level at 23.6% Fibonacci level. While RSI index is heading downward, ADX index is on a rise with a widening gap between –DI and +DI lines, suggesting further declines.

Trade suggestion

Sell Stop at 5085.00, Take profit at 5050.00, Stop loss at 5100.00



Dow Jones 30


U.S. Dow Jones 30 tumbled to a three-week low at 21710.00 on Thursday and is posed to trade even lower following a short correction. While the RSI index has plunged into the oversold zone, the ADX index is heading higher, indicating a strengthening bearish force in the market. A support at 21600.00 is expected to be tested.

Trade suggestion

Sell Stop at 21710.00, Take profit at 21600.00, Stop loss at 21760.00


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

Gold Looks Set to Strike $1,300 Level As Precious Metals Draw Haven Demand

Gold futures prices jumped sharply on Friday, trading at the highest level since early-November 2016 as demand for safe-haven assets increased. A selloff in global equities bolstered the precious metal’s price, helping gold to advance for its third straight trading day.

Gold for September delivery climbed more than 0.7 percent to trade at $1296.40 an ounce – the highest level since November 04th. The precious metal looks set for a weekly gain of about 0.5%.

While doubts about U.S. President Donald Trump’s ability to deliver his economic agenda are growing, terrorist attack in Barcelona on Thursday, which left 13 people dead and more than 100 injured, contributed to shake investors’ confidence.

U.S. President Donald Trump on Thursday did not only decry the removal of pro-slavery Civil War Confederacy monuments in Charlottesville, Virginia, but also unleashed attacks on two Republican U.S. senators, Jeff Flake and Lindsey Graham.

The dollar was hit hard as a spate of unfortunate events mounted concerns over Trump’s ability to work with lawmakers in his own party to win passage of his stimulus plans, such as tax cuts and infrastructure spending. A softer greenback caused purchasing assets priced in the currency such as gold more attractive to buyers holding other currencies.

Trade suggestion

Buy Stop at 1297.00, Take profit at 1305.00, Stop loss at 1293.00



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

Japanese Yen Extends Gains Versus Dollar Due to Global Share Sell-off

Japanese Yen extended its upbeat moves versus the dollar for the third day in a row as Asian stock investors joined a global retreat from riskier assets on Friday. While doubts about U.S. President Donald Trump’s ability to deliver his economic agenda are growing, terrorist attack in Barcelona on Thursday contributed to shake investors’ confidence.

The currency pair USDJPY lost more than 0.2 percent on Friday following a drop of 0.6 percent on Thursday, looking set to pair earlier weekly gains. Tracing downticks in U.S. stocks on Wall Street in the previous session, the MSCI Asia Pacific Index declined 0.7 percent while Japanese equities, which were dragged down by a strengthening yen, also traded lower. Japan’s Topix index fell 1.1 percent.

A terror attack on Thursday in Barcelona, which left 13 people dead and more than 100 injured, was a reminder that geopolitical risks remain a threat. The driver was reported to ram a van into pedestrians in the section of Las Ramblas – Barcelona’s most iconic avenue- before jumping out of the van and fleeing the scene. Police in Spain are still hunting the suspected terrorist.

Political turmoil in the U.S. was another caused that created uncertainty for investors to pullback and capitalize on their gains. U.S. President Donald Trump on Thursday did not only decry the removal of pro-slavery Civil War Confederacy monuments in Charlottesville, Virginia, but also unleashed attacks on two Republican U.S. senators, Jeff Flake and Lindsey Graham. A spate of unfortunate events mounted concerns over Trump’s ability to work with lawmakers in his own party to win passage of his stimulus plans, such as tax cuts and infrastructure spending.

Trade suggestion

Sell Stop at 109.300, Take profit at 108.900, Stop loss at 109.500



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

AUD/USD

From GMT 09:00 18/08/2017
Till GMT 21:00 18/08/2017

Buy at 0.79250
Take profit at 0.79650
Stop loss at 0.79050

 

[CSFX.Support]

Daily Report on August 21, 2017



Global shares declined in the first trading session of the new week, sending demand for safe-haven assets higher with gold futures prices edging up and moving closer to the $1,300 level on Monday. Asian shares were fragile while European stocks traded lower, as investors’ confidence was sapped by war drills scheduled for the Korean peninsula, not to mention doubts over U.S. President Donald Trump's ability to fulfill his economic agenda.

The MSCI All-Country World Index lost 0.1 percent, heading to the lowest in almost five weeks on a closing basis amidst declines of stock index benchmarks in Tokyo, Seoul and Sydney as well as the euro zone. Japan's Nikkei shed 0.4 percent to trade at a three-and-a-half-month low in spite of the fact that a Reuters poll indicated Japanese manufacturers rose to its highest level in a decade in August.

The MSCI Asia Pacific Index slid 0.1 percent, weighed down by Australia’s S&P/ASX 200 Index that plunged by 0.4 percent and South Korea’s Kospi index that lost 0.1 percent. By contrast, stocks rose in Hong Kong and Shanghai. Hong Kong’s Hang Seng Index jumped 0.4 percent and the Shanghai Composite Index climbed 0.6 percent.

Tracing a weak trading session in Asia, the Stoxx Europe 600 Index fell 0.1 percent, Germany’s DAX Index and the U.K.’s FTSE 100 Index tumbled 0.4 percent and 0.2 percent, respectively. As U.S. and South Korea kicked off annual military exercises, Pyongyang on Sunday warned that the war drills are “reckless behavior driving the situation into the uncontrollable phase of a nuclear war.”



Technicals

EURUSD


EURUSD has been trapped in a slopping downward trading range which connects lower highs and lower lows. However, the price action is testing the upper boundary, looking set to cross over this resistance from below. RSI has risen above the 50 level, indicating a strengthening bullish momentum in the market. A resistance at 1.18300 is within the sight.

Trade suggestion

Buy Stop at 1.17700, Take profit at 1.18300, Stop loss at 1.17400



GOLD


Gold futures prices has been trading sideways below a firm resistance at 1289.00 for a while, sending the ADX index to as low as 15.38, which indicates an unclear trend in the market. The price action has twisted with two moving averages. In the event of breaking out of this resistance and trading higher, the precious metal is expected to test a high at 1295.00.

Trade suggestion

Buy Stop at 1290.00, Take profit at 1295.00, Stop loss at 1288.00



Natural Gas


Natural gas price reversed lower after having surged to as high as 2.9380 – the highest level since August 15th. The price action once again fell below a couple of moving averages and sent the market into the negative territory, as indicated by RSI index that has plunged to as low as 42.90. A support at 23.6% Fibonacci level is expected to be tested.

Trade suggestion

Sell Stop at 2.8750, Take profit at 2.8450, Stop loss at 2.8900



CAC 40


CAC 40 index reversed lower after having failed to sustain its bullish momentum above the 23.6% Fibonacci retracement. Depressed by downward pressure exerted by two MAs hanging above the price action, the stock benchmark index is forecast to trade lower to attempt a support at 5051.00.

Trade suggestion

Buy Stop at 5080.00, Take profit at 5051.00, Stop loss at 5095.00


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

Crude Oil Futures Tumble, Producers Meet To Discuss Compliance Levels

Crude oil prices declines on Monday, reversing lower after having closed higher in two previous sessions. The commodity was under pressure due partly to the fact that investors took profit after a sharp jump in price last Friday while a meeting between OPEC and non-OPEC members contributed to providing some downside.

U.S. West Texas Intermediate crude futures dropped nearly 1.9% to trade at $47.26 a barrel on the New York Mercantile Exchange in North American trading session on Monday. The Organization of the Petroleum Exporting Countries (OPEC) was due to hold a technical meeting with non-cartel members in Vienna to discuss compliance levels with the cartel’s production cut deal.

According to the International Energy Agency’s latest monthly report, OPEC compliance with the agreement fell to 75% in July – the lowest level since the beginning of this year. As stated by a recent report from OPEC, the cartel’s crude production increased last month due to an unexpected rise in production in Libya and Nigeria, two member countries were exempt from the compliance deal.

Trade suggestion

Sell Stop at 47.26, Take profit at 46.00, Stop loss at 47.70


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

USD/JPY
From GMT 09:00 21/08/2017
Till GMT 21:00 21/08/2017

Sell at 109.000
Take profit at 108.600
Stop loss at 109.200

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

EUR/NZD
From GMT 16:30 21/08/2017
Till GMT 21:00 21/08/2017

Buy at 1.61400
Take profit at 1.61900
Stop loss at 1.61200

 

[CSFX.Support]

Daily Report on August 22, 2017



Asian shares advanced on Tuesday after U.S. equities halted a two-day slide in the previous trading session. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent while Japan’s stocks were also on a rise as the Japanese Yen erased Monday’s gains. The currency lost 0.3 percent to 109.27 per dollar. Japan’s Topix index edged 0.2 percent higher.

Despite lingering worries about tensions on the Korean peninsula, South Korean shares gained ground with the Kospi index climbing 0.4 percent. Hong Kong’s Hang Seng Index led gains in Asia, soaring 1 percent as bolstered by strong earnings results. Australian shares added 0.2 percent as did futures on the S&P 500. The underlying gauge inched 0.1 percent higher on Monday.

Following three days of declines European stocks also joined a rally across most Asian equities. The Stoxx Europe 600 Index increased 0.5 percent, rebounding from the lowest in more than a week. The U.K.’s FTSE 100 Index rose 0.6 percent and Germany’s DAX Index also gained 0.6 percent.

Crude oil prices gapped up on Tuesday. U.S. West Texas Intermediate crude jumped 0.3 percent to $47.55 after tumbling 2.4 percent in the previous session, boosted by indications that domestic supply is gradually tightening. Analysts expect U.S. crude inventories to fall for an eighth straight week and drop by 3.4 million barrels last week. Data released by the American Petroleum Institute will be published later in the day while those of U.S. government's Energy Information Administration are due on Wednesday.



Technicals

NZDUSD



NZDUSD rebounded lower after having failed to surpass a strong resistance at 0.73300 – the level that has kept the pair from edging higher since August 11th. The price action fell below a couple of MAs, confirming the downtrend. Meanwhile, the RSI index is heading lower, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 0.72700, Take profit at 0.72200, Stop loss at 0.72900



GBPCHF



As can be easily seen from the chart, the pair GBPCHF has been under downward pressure exerted by two MAs that are hanging above the price action. RSI remained under 50, moving at as low as 40.72, indicating a dominating bear in the market. A support at 1.23500 is within the sight.

Trade suggestion

Sell Stop at 1.24000, Take profit at 1.23500, Stop loss at 1.24200



GBPAUD


GBPAUD has been depressed by the short-term MA20, moving sideways above a firm support at 1.62000 – the level that the pair failed to breach since March 21st. The RSI index is pointing lower and the ADX index is on a rise, indicating a strengthening bearish momentum in the market. A support at 1.61000 is expected to be tested.

Trade suggestion

Sell Stop at 1.62000, Take profit at 1.61000, Stop loss at 1.62500



Natural Gas



Natural Gas resumed its uptrend following a period of moving sideways around the level 2.9650. The price action has been trading above two MAs, indicating a market dominated by buyers. RSI continued to point upwards, signaling further advances for the commodity. A resistance at 3.100 is forecast to be tested.

Trade suggestion

Buy Stop at 2.9700, Take profit at 3.100, Stop loss at 2.9500



WTI



U.S. crude price reversed lower, paring early gains after the commodity failed to breach a resistance at 47.867. The price action once again fell below a couple of MAs while RSI index retreated from the 50 level, suggesting a dominating bearish force in the market. Crude price may attempt a support at 46.500.

Trade suggestion

Sell Stop at 47.400, Take profit at 46.500, Stop loss at 47.800



COPPER



Copper has been tracing an uptrend with support from a couple of moving averages that are lingering below the price action. The price is retesting yesterday’s high at 3.0083 following a short correction. RSI is edging higher, indicating a strengthening bullish momentum in the market. Further advances are anticipated.

Trade suggestion

Buy Stop at 3.0100, Take profit at 3.0300, Stop loss at 3.000

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

Led By Gains of Miners and A Weak Sterling, U.K. Shares Snap A Three-session Losing Streak

U.K. stocks gapped up on Tuesday, on track to halt a three-session losing streak. Shares of miners led the market as copper hit its highest level since November 2014 while a weak British Pound also contributed to provide some upside.

The stock benchmark index FTSE 100 jumped 0.7% to trade at 7,366.50. All sectors traded higher, led by gains in basic materials group. Copper prices continued to climb on Tuesday amidst expectations of further global economic growth while lower supplies may buoy base metals’ prices.

Copper futures for September delivery added 0.75% to trade at $3.002 a pound on the Comex division of the New York Mercantile Exchange on Tuesday after having advanced 1.4% in the previous session. This marked its highest level since November 2014.

Mining heavyweights BHP Billiton PLC and Antofagasta PLC were among the top performers in the market. Shares of BHP Billiton PLC jumped more than 3 percent while those of Antofagasta PLC even jumped more than 4.8 percent. Both copper miners tripled their interim dividend payment after reporting a sharp rise in half-year earnings.

Sterling tumbled 0.44% versus its American counterpart on Tuesday, sending the pair GBP/USD down to as low as 1.28400. The pound has been under pressure as investors expected that the Bank of England would hold its interest unchanged in the coming months due to concerns over the economic impact from Brexit.

Trade suggestion

Buy Stop at 7370.00, Take profit at 7400.00, Stop loss at 7360.00


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

S&P 500 Extends Gains, Bolstered by Technology and Materials Companies

U.S. shares advanced on Tuesday with the stock benchmark S&P 500 index climbing a second day. While copper rose to a three-year high that helped materials companies lead the market, the absence of major news from the White House on the tensions between the United States and North Korea helped calm nerves.

The S&P 500 jumped nearly 0.8% to trade at 2443.00, led by a bounce in technology and materials companies. Nine of the 11 primary S&P 500 sectors rose on the day with the biggest gainers were material as copper futures for September delivery added 0.75% to trade at $3.002 a pound on the Comex division of the New York Mercantile Exchange.

The metal advanced 1.4% in the previous session and extended its rally to hit its highest level since November 2014. Technology sector was the second biggest gainer, adding 1.2%.

Trade suggestion

Buy Stop at 2443.00, Take profit at 2460.00, Stop loss at 2435.00


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

EUR/GBP

From GMT 05:00 22/08/2017
Till GMT 21:00 22/08/2017

Buy at 0.91650
Take profit at 0.92000
Stop loss at 0.91500