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Old Oct 18, 2017, 7:14pm   #931
Joined Aug 2016
Daily Report on October 18, 2017



European shares opened modestly higher on Wednesday after mixed trading in Asian equities earlier. Despite fresh records for U.S. stocks in the previous trading session on Tuesday, the MSCI Asia Pacific Index was little change with Australia’s S&P/ASX 500 Index and South Korea’s Kospi index ending flat. While Japan’s Topix index closed less than 0.1 percent higher and the Shanghai Composite Index was up 0.1 percent, Hong Kong’s Hang Seng Index inched lower.

The Stoxx Europe 600 Index gained 0.1 percent, supported by an increase of 0.2 percent in the U.K.’s FTSE 100 Index. However, Germany’s DAX Index marked the first retreat in a week with a decline of 0.1 percent. Whereas, politic turmoil kept Spanish equities in negative territory. Futures on the S&P 500 Index ticked up less than 0.05 percent to the highest on record.

The U.S. dollar advanced on Wednesday amidst rising speculation over a possible appointment of a hawk as Fed chair as well as progress on U.S. tax reforms. The dollar index rose 0.1 percent to 93.58 after having surged to as high as 93.729 on Tuesday. The greenback was supported after U.S. Senate Republicans on Monday gained crucial support for a vote on a budget resolution that is vital to President Donald Trump’s hopes of signing tax reform legislation into law before January.

Crude oil futures rose on Wednesday following a report released by the American Petroleum Institute on Tuesday that showed U.S. crude supplies dropped by 7.1 million barrels for the week ended October 13th. Inventories date published by the Energy Information Administration is due to come out later in the day with analysts expecting a drop of 3.9 barrels in crude inventories.



Technicals

CADJPY



CADJPY rebounded from a firm support at 89.000 with its price action surging above a couple of moving averages which confirms the uptrend. Further advances are forecast for the currency pair as the RSI index is heading upwards which shows a strengthening bullish momentum. The ADX index is also witnessing a widening gap between the +DI and –DI lines, supporting the signals for extending up moves.

Trade suggestion

Buy Stop at 89.900, Take profit at 90.300, Stop loss at 89.700



USDJPY


The pair USDJPY has been trapped between a support at 38.2% Fibonacci retracement and a resistance at 50.0% level. The pair is also trading sideways which has sent the ADX index to as low as 22.08. However, the price action has penetrated a couple of moving averages from below which RSI index rebounded to jump into the positive territory. Further upbeat moves are anticipated to support the price to reach the 50.0% Fibonacci handle.

Trade suggestion

Buy Stop at 112.500, Take profit at 113.000, Stop loss at 112.300



USDCHF



USDCHF bounced back from a significant level at 38.2% Fibonacci retracement with the support from two moving averages that are lingering below the price action. Both RSI and ADX indices are rising, not to mention a widening distance between the +DI and –DI lines, suggesting further increases for the pair. A resistance at 0.98350 is anticipated to be tested.

Trade suggestion

Buy Stop at 0.97950, Take profit at 0.98350, Stop loss at 0.97750



SILVER


Silver resumed its downbeat moves following a consolidation that came after the price action broke below the long-term MA50. The sellers are dominating in the market, as indicated by the RSI index that has slipped to as low as 37.39. Although ADX index is ticking down slightly, the –DI and +DI lines are diverging. Further declines are expected to send the precious metal’s price to a support at 16.850.

Trade suggestion

Sell Stop at 16.970, Take profit at 16.850, Stop loss at 17.030



Natural Gas



Natural gas futures slumped from a significant level at 38.2% Fibonacci retracement and is looking set to complete its double-top pattern as it is testing the neck level at 2.9135. The price action has crossed over the long-term MA50. RSI index is heading downwards, indicating an overwhelming and strengthening bearish force in the market. The commodity is forecast to test a support at 2.8800.

Trade suggestion

Sell Stop at 2.9100, Take profit at 2.8800, Stop loss at 2.9250



BRENT



Brent crude price has been trading sideways to higher with the support from a couple of moving averages which are hanging below the price action. RSI index is heading higher at as high as 62.17, which shows a strengthening bullish force for the commodity. The price is expected to inch higher in an attempt to test a resistance at 58.850.

Trade suggestion

Buy Stop at 58.290, Take profit at 58.850, Stop loss at 58.100



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

Revenue Slips for 22nd Straight Quarter, IBM Shares Advance on Upbeat Q4 Guidance

Shares of International Business Machines Corp. jumped dramatically in the extended session on Tuesday after the technology company released better-than-expected earnings for the third quarter.

IBM shares surged more than 5.5% to trade at $154.72 per share after hours. The Armonk, New York-based company reported net income of $2.73 billion, or $2.92 a share for the three-month period to September, down from $3.2 billion, or $2.98 a share, in the year-ago period. Adjusted for non-recurring items, earnings were reported to reach $3.30 a share.

Revenue also fell compared to the same period last year, slipping for the 22nd straight quarter. However, revenue ticked down slightly to $19.15 billion from $19.23 billion in the year-ago period, which was much better than the $18.6 billion analysts had been expecting.

IBM’s chief financial officer, Martin Schroeter, said the company forecast a stronger than usual seasonal bounce in revenues for the current quarter. Boosted in part by sales of its new mainframe server, fourth-quarter revenue is projected to hit $22 billion to $22.1 billion, which would top analysts’ average estimate of $21.8 billion for sales.

Trade suggestion

Buy Stop at 154.80, Take profit at 156.00, Stop loss at 154.20


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Benefited from Robust Sales, Abbott Reports Better-than-expected Earnings

Shares of Abbott Laboratories soared more than 1 percent in North American trading session on Wednesday after the pharmaceutical company reported third quarter’s profit and sales that topped analysts’ estimates thanks to robust sales of medical devices and generic drugs.

Abbott shares gained nearly 1.5 percent to trade at $55.88 after the Illinois-based company said it earned $603 million, or 32 cents per share last quarter, compared to a loss of $329 million, or a loss of 24 cents per share, in the year-earlier period.

Revenue was reported to rise from $5.30 billion in the same period last year to $6.83 billion in the three months to September. The reading topped analysts’ forecast calling for sales of $6.73 billion. Abbott forecast full-year adjusted 2017 profit from continuing operations of $2.48-$2.50 per share, compared with previous guidance of $2.43 to $2.53.

Trade suggestion

Buy Stop at 55.90, Take profit at 57.10, Stop loss at 55.30

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

EUR/JPY

From GMT 16:20 18/10/2017
Till GMT 21:00 18/10/2017

Buy at 133.050
Take profit at 133.450
Stop loss at 132.850
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Old Oct 19, 2017, 6:50pm   #932
Joined Aug 2016
Nervousness Ahead of New Government Formation Sends Kiwi To Nearly-five-month Lows

New Zealand dollar tumbled broadly against its major rivals on Thursday as market participants were waiting for the country’s announcement on the new government following an inconclusive election on September 23rd.

The Kiwi plunged by more than 1.2 percent to trade at $0.7065 in Asian trading session, sending the pair NZDUSD to the weakest level since May 30th. The local currency was hit hard after New Zealand First leader Winston Peters on Thursday said he would support the Labour Party to form government for the first time in nine years.

With the backing of the New Zealand First Party and the Green Party, the new government led by Jacinda Ardern will control 63 of the 120 seats in parliament. The Labour party only win 46 seats in the election last month. The Kiwi dropped amidst concerns that policy changes may cause the economy to lose growth momentum.

Trade suggestion

Sell Stop at 0.70600, Take profit at 0.70150, Stop loss at 0.70800



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

Natural Gas Futures Drop to Two-month Lows After EIA Data Release

Natural gas futures prices plunged strongly to the weakest level in more than two months on Thursday after a weekly report showed U.S. supplies of natural gas rose much more than expected last week.

November natural gas dropped nearly 2.6 percent to trade at $2.78 per million British thermal units in North American trading session, down significantly from $2.861 before the data release. The price tumbled to the lowest level since August 07th.

According to data published by the U.S. Energy Information Administration, U.S. national storage increased by 51 billion cubic feet for the week ended Oct. 13, compared to analysts’ forecast calling for a climb of 50 billion cubic feet. As stated by the report, total stocks now stand at 3.646 trillion cubic feet.

Trade suggestion

Sell Stop at 2.7800, Take profit at 2.7500, Stop loss at 0.7950



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

GBP/AUD

From GMT 17:30 19/10/2017
Till GMT 21:00 19/10/2017

Sell at 1.67100
Take profit at 1.66500
Stop loss at 1.67400
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Old Oct 20, 2017, 7:30pm   #933
Joined Aug 2016
Daily Report on October 20, 2017



Global share markets edged higher on Friday with the Stoxx Europe 600 index reversing from a loss in the previous session. Particularly, the stock benchmark index added 0.2 percent as supported by gains in financial and industrial shares. The Stoxx Europe 600 index dropped as much as 0.6 percent on Thursday and was on track to shed 0.5% for the week, which would be the first weekly declines in the last six week.

Germany’s DAX 30 index picked up 0.2 percent and France’s CAC 40 inched 0.16 percent higher while, the FTSE 100 gained 0.25 percent in London. In Asian trading session, Japan’s Topix index closed roughly higher at the highest since July 2007. The index advanced for a sixth consecutive week. The Nikkei 225 Stock Average also ended at the highest since October 1996. Australia’s S&P/ASX 200 Index and South Korea’s Kospi index rose 0.2 percent and 0.7 percent, respectively.

U.S. stock futures also traded higher. Dow Jones Industrial Average futures jumped 0.39% to surpass the level 23,200. Meanwhile, S&P 500 futures gained 0.21% to 2,565.75. Nasdaq futures advanced 0.2% to 6,107. For the week, all three benchmarks were all set for weekly gains.

The U.S. dollar soared strongly to hit the highest level in roughly three months versus its Japanese counterpart and also strengthened against other major rivals on Friday amidst speculation over the tax reforms. The U.S. dollar index, which measures the strength of the buck against six other currencies, climbed 0.3% to 93.526. Dollar’s upbeat moves were fueled after Senate Republicans reportedly passed a budget blueprint for the next fiscal year, which helps clear a critical hurdle in the GOP push to overhaul the tax code.



Technicals

CADJPY



CADJPY rebounded from as low as 90.000 and is retesting a three-week high at 90.713 after having broken above a significant resistance at 50.0% Fibonacci retracement. Further advances are forecast for the pair given a strengthening bullish momentum in the market. Both ADX and RSI index are rising, not to mention a widening gap between +DI and –DI lines. A resistance at 91.150 is expected to be tested.

Trade suggestion

Buy Stop at 90.750, Take profit at 91.150, Stop loss at 90.550





EURUSD


The currency pair EURUSD retreated after having hit a strong resistance at 1.18550. The price action has crossed over the long-term MA50 and is facing another dynamic support at the short-term MA20. A breakout is anticipated as the RSI index which has slipped into the negative territory signals a strengthening bearish momentum. The pair is forecast to inch lower in an attempt to test a support at 1.17500.

Trade suggestion

Sell Stop at 1.17950, Take profit at 1.17500, Stop loss at 1.18150



NZDUSD



NZDUSD plunged from as high as 0.71500 and tumbled noticeably to as low as 0.69750 after having penetrated a significant level at 61.8% Fibonacci retracement. The pair consolidated at around 0.70400 but failed to gain bullish momentum by profit-taking. Further declines are expected for the currency pair as sellers are getting stronger in the market, as indicated by ADX index which continues to surge. A support at 0.69350 is expected to be tested.

Trade suggestion

Sell Stop at 0.69750, Take profit at 0.69350, Stop loss at 0.69950



AUDJPY



Supported by a couple of moving averages that are lingering below the price action, the pair AUDJPY reversed higher from as low as 88.400. The pair retested a nearly-four-week high at 88.895 and looks set to trade higher in an attempt to test a resistance at 89.300. Whereas the RSI index is heading upward, ADX index is also a rise with the +DI and –DI lines diverging.

Trade suggestion

Buy Stop at 88.900, Take profit at 89.300, Stop loss at 88.700



BRENT



After a period supported by the long-term MA50, U.K. Brent crude price futures prices broke out of this dynamic support and tumbled. Current down moves sent the commodity into the bearish market, as indicated by the RSI index that has slipped to as low as 38.19 and continues to head lower. Further declines are expected for the commodity with a support at 56.200 within the sight.

Trade suggestion

Sell Stop at 56.900, Take profit at 56.200, Stop loss at 57.200



GOLD



Gold reversed lower after the precious metal failed to break out a couple of dynamic resistance at the short-term MA20 and the long-term MA50. The metal is facing a strong support at the 61.8% Fibonacci retracement that has prevented the price from edging lower since October 09th. A breakout is anticipated with the RSI index pointing downward while the ADX index on a rise with a widening gap between the –DI and +DI lines.

Trade suggestion

Sell Stop at 1279.00, Take profit at 1273.00, Stop loss at 1282.00



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

Boosted By Sharp Jump in Mobile Payments, PayPal Shares Advance Amidst Rosy Outlook

Shares of PayPal Holdings Inc. took up by more than 4 percent in the extended session on Thursday after the mobile-payments company reported a better-than-expected third-quarter profit and upgraded its guidance for earnings through the rest of the year.

PayPal’s shares soared 4.03 percent to trade at $69.96 after the San Jose, California-based payments company said it earned $380 million of net income, or 31 cents a share in the third quarter, up from $323 million, or 27 cents a share, in the year-ago period.

For the three-month ended September, the PayPal reported adjusted earnings of $560 million, or 46 cents a share. The reading marked a rise of 32 percent compared to the same period last year and also beat analysts’ expectations calling for earnings of 39 cents a share on revenue of $3.565 billion.

Thanks to sharp growth in mobile payments whose volumes surged 54 percent during the last quarter compared with the year-ago period, to about $40 billion, PayPal witnessed its revenue jump 21.4 percent to $3.24 billion from $2.67 billion recorded in the same quarter last year.

PayPal also raised its guidance for the fiscal year 2017’s adjusted earnings to a range of $1.86 to $1.88 per share from $1.80 per share to $1.84 per share. Meanwhile, earnings are forecast to reach a range of 50 cents to 52 cents per share during the fourth quarter, which is in line with analysts’ estimate of earnings of 51 cents. Revenue is expected to come in between $12.92 billion and $12.98 billion.

Trade suggestion

Buy Stop at 70.00, Take profit at 72.00, Stop loss at 69.00



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

GBP/NZD

From GMT 10:30 20/10/2017
Till GMT 21:00 20/10/2017

Buy at 1.88300
Take profit at 1.88750
Stop loss at 1.88100
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Old Oct 23, 2017, 7:11pm   #934
Joined Aug 2016
Daily Report on October 23, 2017



Global shares and the U.S. dollar advanced on Monday with the odds of U.S. tax overhaul remaining in focus. Japanese shares extended their rally in the face of a softening Yen that came after Shinzo Abe’s election victory over the weekend. Indeed, Japan’s Topix index jumped 0.8 percent to hit the highest level since mid-2007 while the Nikkei climbed to reach the highest since 1996 as the Yen slumped to its weakest in almost 15 weeks.

MSCI’s Asia Pacific Index added only 0.1 percent as strong gains in Japanese equities were offset by losses in markets in Hong Kong and Australia. Particularly, Hong Kong’s Hang Seng shed 0.6 percent while Australia’s S&P/ASX 200 dropped 0.2 percent. South Korea’s Kospi index was little changed. European shares jumped higher with the Stoxx Europe 600 Index adding 0.3 percent.

Other stock benchmark index in the region also traded in positive territory. The U.K.’s FTSE 100 Index rose 0.1 percent and Germany’s DAX Index ticked 0.2 percent higher. European stocks received support from the common currency’s slip. The euro dropped versus its major rivals amid concerns over Catalonia as the region's leaders refused to back off from their demand for independence from Spain.

Gold decreased 0.5 percent to $1,274.18 an ounce, the weakest in almost two weeks. The yellow metal lost ground as the U.S. dollar was boosted by optimisms over the progress on tax reform following Republican-controlled Senate’s passage of a budget blueprint. Furthermore, expectations that the Federal Reserve will raise rate in its December meeting and tighten the economy steadily next year make non-yielding metals like gold less attractive.



Technicals

EURGBP


EURGBP slumped from as high as 0.90200 – a firm resistance that has forced the pair to reverse lower since September 12th. The price action has penetrated a couple of moving averages, which confirms the downtrend. While the RSI index is heading downwards, the ADX index is pointing toward the overbought zone, indicating a strengthening bearish momentum and suggesting further declines for the pair.

Trade suggestion

Sell Stop at 0.89000, Take profit at 0.88600, Stop loss at 0.89200



AUDUSD


The Australian dollar continued to trade lower versus its American counterpart, sending the pair AUDUSD lower for the second consecutive trading day. As can be seen from the chart, the short-term MA20 has converged with the long-term MA50 from above, suggesting a strengthening bearish force in the market. RSI index that is on a decline signals further downbeat moves for the pair.

Trade suggestion

Sell Stop at 0.78000, Take profit at 0.77500, Stop loss at 0.78200



USDCAD



USDCAD has broken out of a sideways trading range that blocked the pair between a support at 1.24500 and a resistance at 1.25900. The currency pair crossed over the upper boundary from below and sent the market into the overbought zone, as indicated by the RSI index that has soared to as high as 73.38. Further advances are anticipated with the resistance at 1.27000 within the sight.

Trade suggestion

Buy Stop at 1.26500, Take profit at 1.27000, Stop loss at 1.26300



GBPAUD



GBPAUD is facing a significant level at the 50.0% Fibonacci retracement after its price action liberated from a constraint from the long-term MA50. The pair is moving sideways below the 50.0% level but looks set to break out of this handle to test another strong resistance at 1.69900 with the RSI index is rising which indicates a strengthening bullish momentum in the market.

Trade suggestion

Buy Stop at 1.69100, Take profit at 1.69900, Stop loss at 1.68700



SILVER



Silver has been tracking a downtrend under downward pressure exerted by a couple of moving averages that are hanging above the price action. The metal gapped down at the open on Monday but failed to cover the gap and continued to edge lower towards a significant level at 38.2% Fibonacci retracement. Whereas RSI index is on a decline, ADX index is heading upwards, suggesting upcoming down moves for the commodity.

Trade suggestion

Sell Stop at 16.880, Take profit at 16.740, Stop loss at 16.950



CADJPY


CADJPY tumbled after having gapped down in early trade on Monday. The pair once again fell below a support at 90.000 and also crossed over a couple of moving averages from above, showing a resurging bearish force in the market. A support at 89.400 is anticipated to be tested.

Trade suggestion

Sell Stop at 89.800, Take profit at 89.400, Stop loss at 90.000



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

Dollar Advances on Tax Reform and Rate Hike Expectations, Gold Extends Losses to Two-week Lows

Gold futures prices extended their downbeat moves on Monday after having suffered the biggest weekly loss in a month last week. The precious metal continued to be under pressure from a strengthening dollar while stocks market on a rally.

Gold for November delivery shed 0.38 percent to trade at $1,273.70 an ounce – the weakest level in more than two weeks. The precious metal closed at $1,280.50 last Friday, marking a roughly 1.9% weekly drop which was the worst weekly performance since September 22nd.

The yellow metal lost ground as the U.S. dollar was boosted by optimisms over the progress on tax reform following Republican-controlled Senate’s passage of a budget blueprint. Furthermore, expectations that the Federal Reserve will raise rate in its December meeting and tighten the economy steadily next year make non-yielding metals like gold less attractive.

Trade suggestion

Sell Stop at 1273.50, Take profit at 1268.00, Stop loss at 1276.00


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

GBP/JPY

From GMT 18:45 23/10/2017
Till GMT 21:00 23/10/2017

Buy at 150.200
Take profit at 150.900
Stop loss at 149.900

****************************************
AUD/NZD

From GMT 16:30 23/10/2017
Till GMT 21:00 23/10/2017

Sell at 1.11900
Take profit at 1.11400
Stop loss at 1.12100
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Old Oct 24, 2017, 7:31pm   #935
Joined Aug 2016
Bolstered by Better-than-expected Earnings, 3M Shares Jump Nearly 3%

Shares of 3M Co. rallied nearly 3 percent in premarket trade on Tuesday after the multinational conglomerate corporation reported profit and revenue for the third quarter that beat expectations.

3M’s shares jumped 2.91 percent to trade at $228.00, boosted by better-than-expected third-quarter earnings reports. Indeed, the industrial, safety and consumer products company said it earned $1.43 billion, or $2.33 a share in the three-month period to September, up from $1.33 billion, or $2.15 a share, in the same period a year ago.

Adjusted for non-incurring items, earnings per share came in at $2.21.

Meanwhile, revenue was reported to reach $8.17 billion, increasing for a reading of $7.71 billion recorded in the same quarter last year and easily topping market forecast calling or revenue of $7.92 billion. The Minnesota-based company raised its net EPS guidance to a range of $9.00 to $9.10 from $8.80 to $9.05.

Trade suggestion

Buy Stop at 228.00, Take profit at 230.00, Stop loss at 227.00


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

U.S. Same-store Sales Advance in Q3, McDonald Shares Edge Higher in Pre-market Trade

Shares of McDonald’s Corp. rose in pre-market trading session on Tuesday after the world’s biggest fast-food chain published earnings for the third quarter that showed a bigger-than-expected increase in quarterly U.S. comparable sales.

McDonald’s shares gained 1.24 percent to trade at $165.36 after the fast food restaurant chain reported sales at U.S. restaurants that has opened at least 13 months jumped 4.1 percent. The rate was above the 3.4 percent growth expected by analysts.

The advance came as a result of attempts of McDonald to reverse a decline in traffic at its U.S. restaurants with offers such as soft drinks of all sizes for $1 and McPick 2 for $5 promotion.

Meanwhile, global comparable sales also rose, jumping 6 percent, above the 4.5 percent increase forecast by analysts. McDonald reported net income of $1.88 billion, or $2.32 per share, in the third quarter ended September 30th, up from $1.28 billion, or $1.50 per share, a year earlier.

Trade suggestion

Buy Stop at 165.50, Take profit at 168.00, Stop loss at 164.00


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

NZD/USD

From GMT 14:40 24/10/2017
Till GMT 21:00 24/10/2017

Sell at 0.69000
Take profit at 0.68500
Stop loss at 0.69200
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Old Nov 16, 2017, 1:31pm   #936
Joined Aug 2016
Rosy Outlook Boosts Cisco Shares To Levels Not Seen for 15 Years

Shares of Cisco Systems Inc. rose drastically in the extended session Wednesday after the multinational technology conglomerate reported quarterly earnings that topped market estimates and forecast upbeat earnings outlook for the current quarter.
Cisco’s shares jumped more than 5.8 percent in after-hours trading on Wednesday after having closed the regular session up 0.21 percent. Shares were trading at as high as $36.10 – levels not seen for more than 15 years. The networking company posted fiscal first-quarter net income of $2.39 billion, or 48 cents a share, up from $2.32 billion, or 46 cents a share, in the year-ago period. Adjusted earnings were reported to hit 61 cents a share. Read More

Trade suggestion
Buy Stop at 36.10, Take profit at 36.50, Stop loss at 35.90
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