Daily Market Updates & Trading Signals By Option Banque

[Option_Banque]

FTSE 100 Trade Idea by Option Banque

Supported By Energy And Mining Shares, U.K. Stocks Jump To Near All-Time Record High

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

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

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

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

Trade suggestion
Buy Digital Call Option from 7400.00 to 7430.00 valid until 21:00 GMT May 22, 2017

 

[Option_Banque]

Crude Trade Idea by Option Banque

Crude Prices Rise Amidst Expectations Over Extended And Deepened OPEC-Led Supply Curb

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

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

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

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

Trade suggestion
Buy Digital Call Option from 50.80 to 51.50 valid until 21:00 GMT May 22, 2017

 

[Option_Banque]

SILVER signal by Option Banque

From 17.150
Till 17.250

Buy Option Digital
Direction Call
Expiry GMT 21:00 22/05/2017

 

[Option_Banque]

Daily Report on May 23, 2017 by Option Banque

Daily Report on May 23, 2017



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

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

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

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



Technicals

EURNZD


Fig: EURNZD H4 Technical Chart

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

Trade suggestion

Buy Digital Put Option from 1.59700 to 1.58700 valid until 21:00 GMT May 23, 2017



BRENT



Fig: BRENT H1 Technical Chart

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

Trade suggestion

Buy Digital Put Option from 53.40 to 52.60 valid until 21:00 GMT May 23, 2017



GOLD


Fig: GOLD H4 Technical Chart

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

Trade suggestion

Buy Digital Call Option from 1264.00 to 1270.00 valid until 21:00 GMT May 23, 2017



EURO 50



Fig: EURO 50 Index H4 Technical Chart

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

Trade suggestion

Buy Digital Put Option from 3570.00 to 3525.00 valid until 21:00 GMT May 23, 2017

 

[Option_Banque]

Trade signals by Option Banque

NZD/USD signal by Option Banque
From 0.70100
Till 0.70500
Buy Option Digital
Direction Call
Expiry GMT 21:00 23/05/2017

AUD/JPY
From83.550
Till84.000
Buy Option Digital
Direction Call
Expiry GMT 21:00 23/05/2017


GBP/NZD signal by Option Banque
From 1.85000
Till 1.84300
Option Digital
Direction Put
Expiry GMT 21:00 23/05/2017

 

[Option_Banque]

Daily Report on May 24, 2017 by Option Banque

Daily Report on May 24, 2017



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

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

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

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



Technicals

GBPNZD



Fig: GBPNZD H4 Technical Chart

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

Trade suggestion

Buy Digital Put Option from 1.85000 to 1.84000 valid until 21:00 GMT May 24, 2017



CADJPY



Fig: CADJPY H4 Technical Chart

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

Trade suggestion

Buy Digital Call Option from 82.800 to 83.300 valid until 21:00 GMT May 24, 2017



Natural gas



Fig: Natural Gas H4 Technical Chart

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

Trade suggestion

Buy Digital Put Option from 3.315 to 3.260 valid until 21:00 GMT May 24, 2017



WTI



Fig: WTI H4 Technical Chart

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

Trade suggestion

Buy Digital Call Option from 51.70 to 52.40 valid until 21:00 GMT May 24, 2017

 

[Option_Banque]

Lowe’s Cos. Trade Idea by Option Banque

Lowe’s Cos. Shares Plummet After Sales And Earnings Miss Forecasts

Shares of Lowe’s Cos. plunged by more than 6 percent in premarket trade on Wednesday after the company reported quarterly sales and adjusted earnings that missed market expectations.

The U.S. second-largest hardware chain posted first-quarter adjusted earnings of $1.03 a share, up from 87 cents a year ago but falling short of analysts’ forecast of $1.06 a share.

The home-improvement retailer said sales rose to $16.86 billion in the three-month period ending April, advancing from $15.23 billion in the year-earlier period but once again missed consensus estimate of $16.95 billion.

Net earnings were reported to reach $602 million last quarter, or 70 cents a share, compared with $884 million, or 98 cents a share, a year ago.

Trade suggestion
Buy Digital Put Option from 77.00 to 75.00 valid until 21:00 GMT May 24, 2017

 

[Option_Banque]

Intuit Trade Idea by Option Banque

Shares Of Intuit Soar Sharply Following Upbeat Earnings Report And Rosy Outlook

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

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

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

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

Trade suggestion
Buy Digital Call Option from 141.00 to 143.00 valid until 21:00 GMT May 24, 2017

 

[Option_Banque]

USD/CAD signal by Option Banque

From 1.34500
Till 1.34200

Option Digital
Direction Put
Expiry GMT 21:00 24/05/2017

 

[Option_Banque]

Daily Report on May 25, 2017 by Option Banque

Daily Report on May 25, 2017



Asian shares advanced to two-year highs on Thursday after the U.S. Federal Reserve’s last meeting minutes signaled a cautious approach to future rate hikes. The dollar and U.S. bond yields were also hit by the reduction of the central bank’s $4.5 trillion of bond holdings. The MSCI Asia Pacific Index soared by 0.8 percent to the highest level since May 2015.

While South Korea’s Kospi index jumped 0.8 percent to an all-time high, Taiwan’s Taiex also extended gains to the highest since 2000. Japan’s Topix index and the Shanghai Composite both rose 0.4 percent while the Hang Seng China Enterprises Index climbed 1.3 percent, trading above the level of 10,500 for the first time since March 29.

According to the minutes from the Fed's last policy meeting which was released on Wednesday, policymakers agreed they should hold off on raising interest rates, expressing concern that progress on inflation might have slowed. The greenback weakened to the lowest since November with Fed funds rate futures pricing in about a 75 percent chance that the Fed will raise rates next month, down from more than 80 percent earlier this week.

Crude oil prices traded around five-week highs ahead of OPEC meeting in Vienna later in the day. As stated by the Energy Information Administration, U.S. crude oil inventories fell for the seventh straight week, dropping 4.4 million barrels in the week ended May 19. This topped analysts' forecasts of a 2.4 million-barrels decline.



Technicals

NZDUSD


Fig: NZDUSD H4 Technical Chart

NZDUSD extended its up moves, moving past the last high at 0.70455 recorded on Tuesday and is marching higher towards a significant level at 0.71000 with support from a couple of MAs. RSI has risen to as high as 69.11, looking set to enter an overbought zone and indicating an overwhelmingly strong bullish force in the market.

Trade suggestion

Buy Digital Call Option from 0.70600 to 0.71000 valid until 21:00 GMT May 25, 2017



EURO 50



Fig: Euro 50 index H4 Technical Chart

Euro 50 index gapped up on Thursday, bringing its price action above two MAs –which had refrained the prices from marching higher for a while. The stock benchmark index is facing the last high at around 3600.00 and is likely to surge higher with the market falling into the bullish zone, as indicate by RSI index.

Trade suggestion

Buy Digital Call Option from 3605.00 to 3645.00 valid until 21:00 GMT May 25, 2017



SILVER


Fig: SILVER H1 Technical Chart

SILVER rebounded from a support at 17.135 following a correction from a high level at 17.212. The precious metal’s price is inching higher towards a resistance at 17.300 with upward support from two MAs lingering below the price action. ADX and RSI indices are rising, confirming the uptrend.

Trade suggestion

Buy Digital Call Option from 17.200 to 17.300 valid until 21:00 GMT May 25, 2017



AUDCAD



Fig: AUDCAD H4 Technical Chart

As can be easily seen from the price chart, the pair AUDCAD has been depressed by both long-term and short-term MAs. With declining RSI and rising ADX, the pair may drop lower to as low as 38.2% Fibonacci retracement as the bear is getting stronger in the market.

Trade suggestion

Buy Digital Put Option from 1.00400 to 0.99900 valid until 21:00 GMT May 25, 2017

 

[Option_Banque]

Natural Gas Trade Idea by Option Banque

Natural Gas Prices Extend Losses After A Larger-Than-Expected Rise In U.S. Supplies

Natural gas futures prices fell on Thursday; extending their downward rally to a third session in a row after a weekly report showed a larger-than-expected rise in U.S. supplies of the commodity.

Natural gas futures prices for June delivery dropped more than 1.1 percent from Wednesday’s settlement to trade around $3.260 per million British thermal units after the data release.

As stated by the U.S. Energy Information Administration, U.S. natural gas supplies rose by 75 billion cubic feet for the week ended May 19, topping analysts’ forecast for a build of 67 billion cubic feet. According to the report, total stocks now stand at 2.444 trillion cubic feet, 241 billion cubic feet above the five-year average.

Trade suggestion
Buy Digital Put Option from 3.260 to 3.200 valid until 21:00 GMT May 25, 2017

 

[Option_Banque]

HP Inc. Trade Idea by Option Banque

Shares Of HP Inc. Hit $20 Following Last Quarter’s Earnings Results

Shares of HP Inc. added 3 percent to hit $20 in late trading on Wednesday after the company reported higher-than-expected sales and earnings for the last quarter. That was the highest level HP’s stock prices have ever hit since the company split from Hewlett Packard Enterprise.

The California-based information technology company posted net income of $600 million, or 33 cents a share, on sales of $12.4 billion for its fiscal second quarter ending in April.

After adjusting for one-time items such as restructuring charges, HP said it earned 40 cents a share, topping market forecast calling for earnings of 39 cents a share on sales of $11.9 billion.

The company raised its guidance for full-year adjusted earnings to $1.59 to $1.66 a share, up from previous forecast of $1.55 to $1.65 a share.

Trade suggestion
Buy Digital Call Option from 20.00 to 20.20 valid until 21:00 GMT May 25, 2017

 

[Option_Banque]

EUR/CAD signal by Option Banque

From 1.50300
Till 1.49800

Option Digital
Direction Put
Expiry GMT 21:00 25/05/2017

 

[Option_Banque]

Daily Report on May 26, 2017 by Option Banque

Daily Report on May 26, 2017



Asian stocks were broadly lower on Friday, depressed by losses in shares of energy producers. Having closed at a two-year high on Thursday, MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent in the last session of the week. Still, the stock benchmark looked set to close the week 1.4 percent higher.

Stocks in Tokyo, Sydney and Singapore fell with Japan's Nikkei slipping 0.2 percent, but on track for a 0.9 percent increase for the week. Australia’s S&P/ASX 200 Index plunged by 0.75 percent, hit hard by 2.3 percent decline in shares of BHP Billiton Ltd. Australia's benchmark was poised for a 0.3 percent weekly rise.

Meanwhile, Hong Kong's Hang Seng added 0.1 percent and China's CSI 300 was flat. Both equity benchmark indices headed towards gains for the week with the former heading for a 2.4 percent increase for the week while the latter heading for a 2.4 percent increase for the week

Crude price remained weak after having lost nearly 5 percent in the previous session. The sharp down move came after Thursday's meeting in Vienna between the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers disappointed investors wagering for longer or larger supply curbs. OPEC and its allies only agreed to extend a pledge to cut around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018.

Sterling continued to edge lower on Friday after a YouGov poll released late Thursday showed a dramatic narrowing of the gap between the Conservatives (43 percent) and the Labour Party (38 percent). The Pound lost another 0.4 percent after having sunk by 0.3 percent on Thursday following ONS data that showed Britain's economy’s growth rate slowed more than previously reported in the first quarter of this year.



Technicals

NZDUSD


Fig: NZDUSD H4 Technical Chart

NZDUSD has been moving sideways below a significant resistance at 0.70500. The pair failed to cross over this level but at the same time has been supported by the short-term MA20. RSI has reversed higher, suggesting a strengthening bullish momentum. The pair is expected to test another firm resistance at 0.71000.

Trade suggestion

Buy Digital Call Option from 0.70500 to 0.71000 valid until 21:00 GMT May 26, 2017



USDJPY



Fig: USDJPY H4 Technical Chart

As can be seen from the price chart, the pair USDJPY has breached the 50.0% Fibonacci retracement. Under the pressure from both the long-term and short-term MAs, the pair looked set to fall lower to test a support at 110.500. While RSI is nose-diving, ADX is edging higher with a widening gap between the –DI and +DI lines.

Trade suggestion

Buy Digital Put Option from 111.000 to 110.500 valid until 21:00 GMT May 26, 2017



GOLD


Fig: GOLD H4 Technical Chart

Gold retest a resistance at 1263.00 – the level it has to reverse lower on May 18th and 23rd. The price action has been trapped between this resistance and a support at 38.2% Fibonacci retracement. With the support from two MAs and the RSI index which has risen to as high as 63.81, the precious metal is expected to surge higher and break out of the current trading range, attempting the level 1270.00

Trade suggestion

Buy Digital Call Option from 1264.00 to 1270.00 valid until 21:00 GMT May 26, 2017



DAX



Fig: DAX H1 Technical Chart

Germany’s DAX 30 index gapped down on Friday, falling below a support at 12600.00. The stock benchmark index failed to cross over a couple of MAs and has been depressed by these two dynamic resistances. RSI is edging lower, indicating a strong bearish force in the market. The price is anticipated to test a support at 12500.00.

Trade suggestion

Buy Digital Put Option from 12560.00 to 12500.00 valid until 21:00 GMT May 26, 2017

 

[Option_Banque]

Hit By YouGov Poll And Disappointing Data, Sterling Extends Downbeat Moves Versus Dol

Hit By YouGov Poll And Disappointing Data, Sterling Extends Downbeat Moves Versus Dollar

Sterling continued to edge lower versus the greenback on Friday, hit by an unexpected poll result which came on the heels of disappointing economic data on Thursday.

A YouGov poll released late Thursday showed a dramatic narrowing of the gap between the Conservatives (43 percent) and the Labour Party (38 percent). In previous polls conducted earlier this month, the gap has been as high as 24 points.

The Pound lost another 0.4 percent against its American counterpart after having sunk by 0.3 percent on Thursday following ONS data that showed Britain’s economy’s growth rate slowed more than previously reported in the first quarter of this year.

According to the Office for National Statistics, the U.K. GBP grew just 0.2% in the first quarter of 2017, a pace that was down even more sharply than first thought. This also marked a considerable decline compared to the 0.7% growth in the final three months of 2016.

On Friday, the U.S. Bureau of Economic Analysis is scheduled to publish GDP data for the last quarter, which is expected to show the world’s largest economy expanded by 0.9 percent in the three-month period through March.

Data on Core Durable Goods Orders for April will also be released. Economists anticipate a reversal compared to the previous month. Particularly, total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items, is predicted to advance by 0.4 percent on a monthly basis in April.

Trade suggestion
Buy Digital Put Option from 1.28800 to 1.28500 valid until 21:00 GMT May 26, 2017

 

[Option_Banque]

Costco Trade Idea by Option Banque

Costco Shares Advance Following Above-Expectation Third-Quarter Earnings

Shares of Costco Wholesale Corp. rose more than 1.8 percent in after-hours trading on Thursday after second largest retailer in the world posted fiscal third quarter earnings above expectations.

The warehouse club company reported net income in its most recent quarter reached $700 million, or $1.59 per share, up from $545 million, or $1.24 per share, in the same period last year.

Stripping out one-time items, earnings of the Washington-based company came to $1.40 per share in the three-month period ending May 7, topping analysts’ expectation for earnings of $1.31 per share.

Revenue was reported to advance by 8% to $28.22 billion, from $26.15 billion last year. The result fall short of market forecast calling for sales of $28.6 billion.
Costco’s comparable-store sales rose 5% in the quarter. Analysts had predicted a rise of 4%.

Trade suggestion
Buy Digital Buy Option from 178.00 to 180.00 valid until 21:00 GMT May 26, 2017

 

[Option_Banque]

EUR/JPY signal by Option Banque

From 124.550
Till 124.250

Option Digital
Direction Put
Expiry GMT 21:00 26/05/2017

 

[Option_Banque]

Daily Report on May 29, 2017 by Option Banque

Daily Report on May 29, 2017



Asian shares advanced on Monday amid low trading volume as some markets closed. Shrugging off a North Korean missile launch, South Korea's KOSPI index jumped 0.4 percent to touch a fresh record high. The stock benchmark index was on track for its seventh straight day of gains.

Meanwhile, Tokyo shares were buoyed higher on the back of a weak Japanese yen which gave up early gains. The Topix index advanced 0.3 percent and Japan's Nikkei edged up 0.2 percent. While The Hang Seng index increased 0.2 percent, Australia’s S&P/ASX 200 Index fell 0.5 percent.

U.S. markets will be closed on Monday for Memorial Day and UK banks will be closed in observance of the Spring Bank Holiday. China's markets are also closed on Monday and Tuesday in observance of the Dragon Boat Festival.

Crude oil prices dropped on Monday due to a relentless rise in U.S. drilling. According to a report released by the oilfields-services company Baker Hughes on Friday, the US oil-rig count rose by two to 722 last week. U.S. drillers have now added rigs for 19 straight weeks, sending the figure to U.S. drillers have now added rigs for 19 straight weeks.



Technicals

EURAUD


Fig: EURAUD H1 Technical Chart

EURAUD has been tracing an uptrend which brought its price action above both long-term and short-term MAs. The market has entered the bullish zone while the gap between the +DI line and –DI line has been widened, which indicates a strong bullish momentum. The pair is expected to test a resistance at 1.50900.

Trade suggestion

Buy Digital Call Option from 1.50400 to 1.50900 valid until 21:00 GMT May 29, 2017



GBPUSD


Fig: GBPUSD H4 Technical Chart

GBPUSD rebounded from a one-month low at as low as 1.27800. Sharp down moves sent the market into an oversold territory last week and the price is experiencing a correction. The downtrend has weakened, as indicate by ADX index that fell to 37.29. A resistance for the pair to test is at 1.28800.

Trade suggestion

Buy Digital Call Option from 1.28400 to 1.28800 valid until 21:00 GMT May 29, 2017



Natural Gas



Fig: Natural Gas H4 Technical Chart

Natural gas has been trading sideways around the level at 3.232 after gapped down on Monday. The price, which has been under downward pressure exerted by two MAs, fell below the 50.0% Fibonacci. With the RSI index has been as low as 35.38, further declines are expected.

Trade suggestion

Buy Digital Put Option from 3.225 to 3.225 valid until 21:00 GMT May 29, 2017



BRENT



Fig: BRENT H4 Technical Chart

Brent crude has been trading in a narrow range around the level 52.00. As can be seen from the price action, the short-term MA20 has crossed over the long-term MA50 from above, suggesting a reversal into a downtrend. As indicated by the RSI index which is at 44.02, the market has been stuck in the bearish zone, signaling further down moves.

Trade suggestion

Buy Digital Put Option from 51.90 to 51.00 valid until 21:00 GMT May 29, 2017

 

[Option_Banque]

NZD/USD signal by Option Banque

From 0.70650
Till 0.71000

Buy Option Digital
Direction Call
Expiry GMT 21:00 29/05/2017

 

[Option_Banque]

Daily Report on May 30, 2017 by Option Banque

Daily Report on May 30, 2017



Asian equities drifted on Tuesday with thin trading as several markets closed for holidays. Asia-Pacific shares outside Japan dropped 0.3 percent, following holidays in the U.S. and Britain overnight. Markets in Hong Kong and China are shut for holiday while equities in Japan retreated as the yen strengthened. Japan’s Topix fell 0.3 percent on the back of the yen that added 0.4 percent versus the dollar.

Data released earlier on the day showed Japan’s jobless rate remained at the lowest level in more than two decades last month. However, household spending continued to decline in April, as stated by Tokyo’s Statistics Bureau. In April, the headline figures dropped another 1.4 percent on a yearly basis after having declined in three previous months.

South Korea’s Kospi index lost 0.5 percent while Australia’s benchmark gauge was little changed.

The Euro dropped versus its American counterpart on Tuesday amidst rising concerns over Concerns about a Greek bailout, early Italian elections and comments by the European Central Bank governor that reiterated the need for "substantial" stimulus. The single currency, which was on course for dropping for a fourth straight session, fell 0.4 percent to trade at 1.1125 against the dollar on Tuesday - the lowest level since May 19th.

Likewise, Sterling headed back toward a three-week low of $1.2775 touched on Friday, shedding 0.2 percent against dollar after the lastest poll showed British Prime Minister Theresa May's lead over the opposition Labour Party dropped to 6 percentage points.



Technicals

NZDUSD



Fig: NZDUSD H4 Technical Chart

As can be easily seen from the price chart, the pair NZDUSD has been supported consistently by the short-term MA20. The price rebounded from this dynamic support and headed higher in an attempt to test a resistance at 0.71000. RSI has edged higher to as high as 57.10, suggesting a strengthening uptrend.

Trade suggestion

Buy Digital Call Option from 0.70600 to 0.71000 valid until 21:00 GMT May 30, 2017



BRENT



Fig: BRENT H4 Technical Chart

Brent crude prices reversed lower after hitting a firm resistance at 52.60 and a dynamic support that is the short-term MA20. Under the downward pressure from two MAs hanging above the price, the commodity is expected the test a support at 23.6% Fibonacci retracement. RSI remained under the 50 line, signaling further downtrend.

Trade suggestion

Buy Digital Put Option from 52.00 to 51.00 valid until 21:00 GMT May 30, 2017



Natural Gas



Fig: Natural Gas H4 Technical Chart

Natural Gas price extended its down moves after having gapped down on Monday. The commodity has fallen into a consolidation while heading towards a significant support at 3.170. RSI which is at as low as 31.21 indicates a dominating bearish force in the market.

Trade suggestion

Buy Digital Put Option from 3.200 to 3.170 valid until 21:00 GMT May 30, 2017



DAX



Fig: DAX H4 Technical Chart

Germany’s DAX index has been under downward pressure exerted by two MAs that are lingering above the price action. RSI retreated after having failed to move past the 50 line, suggesting a re-emerging bearish momentum. The stock benchmark index is likely to test a support at 12500.00.

Trade suggestion

Buy Digital Put Option from 12580.00 to 12500.00 valid until 21:00 GMT May 30, 2017