Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

Daily Report on August 23, 2017



Asian shares took a breather on Wednesday after an advance in the previous session. The MSCI Asia Pacific Index rose less than 0.1 percent following a rise of 0.3% on Tuesday while Japan’s Topix index closed 0.3 percent higher. Shares declined in Sydney with Australia’s S&P/ASX 200 Index shedding 0.2 percent. By contrast, South Korea’s Kospi index reversed losses, adding 0.1 percent. Futures on the S&P 500 Index fell 0.2 percent.

Hong Kong’s trading session was canceled on Wednesday after the Typhoon Hato lashed the city with heavy winds and rain. The Hong Kong Observatory had issued signal No. 10 for five hours before lowering the signal to No. 8. Trading in Hong Kong will likely resume on Thursday.

The New Zealand dollar tumbled to a one-and-a-half-month low against its American counterpart on Wednesday after the New Zealand Treasury on Wednesday reduced its economic growth forecast for the year to June to 2.6 percent, a slower pace than the 3.1 percent previously forecast. Treasury predicted gross domestic product grew 3.5 percent in the year to June 2018, down from 3.7 per cent in the May budget update.

Meanwhile, the dollar was flat versus a basket of major currencies after traded higher overnight amidst optimism the U.S. president Donald Trump’s administration is making progress on tax reform. Investors are expected to take cautious trade ahead of an annual gathering of central bankers at Jackson Hole later in the week. Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are due to speak on Friday, though neither is expected to announce new policy messages.



Technicals

EURUSD



EURUSD rebounded higher after hitting a downtrend line – which is the upper boundary of a slopping downward trading range. The currency pair did not only turn this resistance into a support but also sent its price action above a couple of MAs. RSI index has risen to as high as 56.66, signaling further advances for the price.

Trade suggestion

Buy Stop at 1.18000, Take profit at 1.18400, Stop loss at 1.17800



GBPJPY


As can be seen from the chart, the pair GBPJPY has been under downward pressure exerted by two MAs hanging above the price action. The pair retested a support at 139.800 and looks set to break out of this level which had restrained the downtrend last week. RSI index continued to point lower, the pair is expected to test a support at 139.000.

Trade suggestion

Sell Stop at 139.700, Take profit at 139.000, Stop loss at 140.000



USDJPY



USDJPY reversed lower as the pair failed to surpass a dynamic resistance at the long-term MA50. The pair has recently been trapped between a resistance at 109.600 and a support at 108.700. The support is anticipated to be tested again as RSI index which has plunged to as low as 42.80 indicated a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 109.100, Take profit at 108.700, Stop loss at 109.300



GOLD


Gold retested a strong resistance at 1289.00 after shooting its price action above a couple of moving averages. A significant handle at 1295.00 is expected to be tested as the market has been dominated by bullish force. While RSI index is soaring, ADX is also on a rise with a widening gap between +DI and –DI lines.

Trade suggestion

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

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New Zealand Dollar Plunges As Treasury Reduces Economic Growth Forecasts

The New Zealand dollar tumbled to a one-and-a-half-month low against its American counterpart on Wednesday after the New Zealand government trimmed its surplus and growth outlook ahead of an election.

The kiwi lost more than 0.7 percent to trade at 0.7225 U.S. cents – the lowest level since July 12th in the wake of the pre-election fiscal update. The New Zealand Treasury on Wednesday reduced its economic growth forecast for the year to June to 2.6 percent, a slower pace than the 3.1 percent previously forecast.

Treasury predicted gross domestic product grew 3.5 percent in the year to June 2018, down from 3.7 per cent in the May budget update.

Meanwhile, the dollar was flat versus a basket of major currencies after traded higher overnight amidst optimism the U.S. president Donald Trump’s administration is making progress on tax reform. Investors are expected to take cautious trade ahead of an annual gathering of central bankers at Jackson Hole which is scheduled to be held later in the week.

Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are due to speak on Friday, although neither is expected to announce new policy messages.

Trade suggestion

Sell Stop at 0.72250, Take profit at 0.71800, Stop loss at 0.72450

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Crude Oil Prices On A Rise, Canadian Dollar Advances Versus the Greenback

Canadian dollar gained ground versus its U.S. counterpart on Wednesday as crude oil prices turned higher after data from the U.S. Energy Information Administration showed that domestic crude supplies fell in line with expectations last week. Meanwhile, the greenback retreated following the release of disappointing U.S. housing sector data.

The pair USDCAD pared earlier gains to trade at 1.25600 in North American trading session on Wednesday. The commodity currency was supported by the report released by the EIA that said U.S. crude oil inventories fell by 3.33 million barrels in the week ended August 18. The figure was in line with forecast.

Meanwhile, U.S. Commerce Department reported that new single-family home sales unexpectedly fell in July. The reading tumbled 9.4 percent to a seasonally adjusted annual rate of 571,000 units last month – its lowest level December 2016.

Trade suggestion

Sell Stop at 1.25600, Take profit at 1.25250, Stop loss at 1.25750


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EUR/NZD

From GMT 12:20 23/08/2017
Till GMT 21:00 23/08/2017

Buy at 1.63500
Take profit at 1.64000
Stop loss at 1.63300

 

[CSFX.Support]

Daily Report on August 24, 2017



European shares traded higher after a mixed session for Asian equities on Thursday. The Stoxx Europe 600 Index climbed 0.4 percent while Germany’s DAX Index also increased 0.4 percent. The U.K.’s FTSE 100 Index added 0.33 percent after having closed marginally higher on Wednesday, hitting the highest level in more than a week. Futures on the S&P 500 Index ticked 0.1 percent higher.

By contrast, the MSCI Asia Pacific Index edged lower by 0.1 percent on Thursday, erasing an ealier gain of as much as 0.3 percent. Although Japanese Yen lost ground versus dollar, Japan’s Topix index fell 0.5 percent. Meanwhile, South Korea’s Kospi index and Australia’s S&P/ASX 200 Index increased 0.4 percent and 0.1 percent, respectively. Hong Kong’s Hang Seng Index aslo rose 0.4 percent after the market reopened on Thursday.

Data released by the Office for National Statistics showed U.K. gross domestic product (GDP) expanded by a seasonally adjusted 0.3% in the second quarter following a rise of 0.2 percent in the three-month period to March. The reading was in line with expectations. On a yearly basis, UK economic growth advanced 1.7% in the April to June period.

The Office for National Statistics also published data on business investment that showed no change on a quarterly basis. Analysts had forecast a growth rate of 0.4%, compared to the 0.6% seen in the first quarter. In a separate report, the index of services in the U.K. rose 0.5% after having added 0.4% in the preceding quarter.



Technicals

GBPNZD


Supported by a couple of MAs, the pair GBPNZD edged higher after a period of moving sideways. The pair even broke out of a resistance at 1.77570 and is heading towards a significant level at 50.0% Fibonacci level. RSI index and ADX index are pointing upwards, suggesting further advances for the pair.

Trade suggestion

Buy Stop at 1.77900, Take profit at 1.78900, Stop loss at 1.77400



EURCAD



As can be seen from the price chart, the pair EURCAD has been under pressure from two MAs lingering above the price action. The price breached a firm support at 1.48000 and is heading lower towards a support at 1.47300. While RSI index is jumping, the ADX index is edging higher with a widening distance between –DI and +DI lines, suggesting further declines.

Trade suggestion

Sell Stop at 1.47800, Take profit at 1.47300, Stop loss at 1.48000



USDCAD


USDCAD has been tracing a downtrend, reversing lower after the pair had failed to sustain its bullish momentum above a resistance at 1.25900. The pair has been under pressure exerted by two MAs and looks set to attempt a support at 1.24900. RSI index is inching lower, indicating a strengthening bullish force in the market.

Trade suggestion

Sell Stop at 1.25300, Take profit at 1.24900, Stop loss at 1.25500



Natural Gas


Natural gas prices resumed its uptrend following a period of consolidation. As can be seen from the price chart, higher lows are formed, indicating a strengthening bullish force in the market. RSI index is edging higher, confirming the signal for further advances. A resistance at 3.000 is within the sight.

Trade suggestion

Buy Stop at 2.9500, Take profit at 3.000, Stop loss at 2.9300




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Sterling Turns Lower, Boosting U.K. Shares to One-week Highs

U.K. shares advanced on Thursday after data showed U.K. gross domestic product rose as much as expected in the last quarter. A weak British Pound also contributed to boost the stock benchmark index higher.

The FTSE 100 index added nearly 0.7 percent to trade at 7430.00 – the highest level in more than one week- after having closed marginally higher on Wednesday.

Data released by the Office for National Statistics showed U.K. gross domestic product (GDP) expanded by a seasonally adjusted 0.3% in the second quarter following a rise of 0.2 percent in the three-month period to March. The reading was in line with expectations. On a yearly basis, UK economic growth advanced 1.7% in the April to June period.

The Office for National Statistics also published data on business investment that showed no change on a quarterly basis. Analysts had forecast a growth rate of 0.4%, compared to the 0.6% seen in the first quarter. In a separate report, the index of services in the U.K. rose 0.5% after having added 0.4% in the preceding quarter.

British Pound reversed earlier gains to trade as low as $1.28000. Sterling weakness helps boost shares of the FTSE’s many multinational companies that get their earnings in other currencies.

Trade suggestion

Buy Stop at 7430.00, Take profit at 7460.00, Stop loss at 7420.00


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AUD/NZD

From GMT 09:30 24/08/2017
Till GMT 21:00 24/08/2017

Sell at 1.09300
Take profit at 1.09850
Stop loss at 1.09500

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GBP/AUD

From GMT 17:00 24/08/2017
Till GMT 21:00 24/08/2017

Sell at 1.61800
Take profit at 1.61000
Stop loss at 1.62200

 

[CSFX.Support]

Yellen Fails to Give Clues on Fed’s Rate Hike Timing, Dollar Tumbles

The U.S. dollar was broadly lower versus its rivals on Friday, especially the Swiss Franc. The currency pair USDCHF dropped to the lowest level in nearly a month after Federal Reserve Chairwoman Janet Yellen did not comment on monetary policy in her remarks at a gathering of central bankers in Jackson Hole, Wyo.

USDCHF plunged more than 0.9 percent to trade at 0.9567 Swiss Franc per dollar – the lowest since July 27th. Fed Chairwoman Janet Yellen delivered a speech on Friday that didn’t offer clues on the central bank’s monetary policy investors hoped for. Instead, she defended post-crisis financial regulation, saying that any rollback of post-crisis financial reforms should be “modest”.

Yellen’s comments bucked speculation that she might strike a hawkish tone on policy and left investors to focus on ECB President Mario Draghi’s talk later.

Trade suggestion

Sell Stop at 1.95650, Take profit at 1.95250, Stop loss at 1.95850


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Broadcom Shares Tumble Despite Better-than-expected Earnings and Rosy Q4 Guidance

Shares of Broadcom Ltd. tumbled in extended trading session on Thursday despite the company’s better-than-expected earnings reports for the third quarter.

Broadcom’s shares lost more than 2.5 percent to trade at $248.60 per share in late trading. The Irvine, CA-based wireless chipmaker posted Q3 earnings per share (EPS) of $4.10, topping Wall Street consensus estimate of $4.03.

Net income in the three-month period to July was reported to reach $507 million, or $1.14 a share, on sales of $4.46 billion, up 7% from $4.19 billion in the year-ago quarter. Analysts on average expected the company to report sales of $4.45 billion.

The technology company posted upbeat guidance for the fourth quarter with revenue seen to hit a range from $4.725 billion to $4.875 billion, slightly above consensus for $4.79 billion.

Trade suggestion

Sell Stop at 248.60, Take profit at 245.00, Stop loss at 250.00


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EUR/AUD

From GMT 11:20 25/08/2017
Till GMT 21:00 25/08/2017

Buy at 1.49450
Take profit at 1.49850
Stop loss at 1.49250

 

[CSFX.Support]

Daily Report on August 28, 2017



Asian shares were struggling for direction on Monday while European stocks were under pressure as the euro continued to trade higher to hit its highest level against the dollar in more than two years. Trading volumes was lighter than usual in the European trading session as trading was closed on the FTSE 100 due to the fact that the U.K. observed the August Bank Holiday.

Dragged down by a stronger yen that had surged to as high as 119.016 in early trade, the Nikkei Stock Average was down 0.1% before paring losses to close roughly flat. The Topix closed 0.2 percent higher. The Shanghai Composite Index also traded higher, jumping 0.7% on the back of gains in financial stocks. The Hang Seng Index in Hong Kong added less than 0.1 percent.

By contrast, Australia’s S&P/ASX 200 index declined 0.6 percent and South Korea’s Kospi index fell 0.4 percent. New Zealand’s NZX 50 index was also on a slide, dropping nearly 0.4 percent. With no sector traded higher, the Stoxx Europe 600 Index plunged by 0.5 percent to trade at the lowest in six months on a closing basis. Germany’s DAX Index fell 0.7 percent.

Oil prices edged lower on Monday with U.S. West Texas Intermediate shedding around 1 percent on the New York Mercantile Exchange. Energy markets digested the impact of Hurricane Harvey, which is the most powerful hurricane to hit Texas in more than 50 years, on the U.S. Gulf Coast amid concerns that U.S. refinery shutdowns could reduce demand for American crudes



Technicals

EURAUD



EURAUD rebounded from a firm support at 1.50100 following a short correction that came after the pair jumped to the highest level since July 07th at 1.50624. While RSI index is heading higher, ADX index is also on a rise with a widening gap between +DI and –DI lines, signaling further advances. A resistance at 1.51000 is within the sight.

Trade suggestion

Buy Stop at 1.50500, Take profit at 1.51000, Stop loss at 1.50300



EURNZD


EURNZD resumed its uptrend after a period of consolidation around the level of 1.64926. With a market dominated by bullish force, the currency pair is anticipated to inch higher in an attempt to test a resistance at 1.66000. RSI is pointing upwards, indicating a strengthening bullish momentum for the pair.

Trade suggestion

Buy Stop at 1.65000, Take profit at 1.66000, Stop loss at 1.64500



COPPER


Copper prices resumed its uptrend in the new week, trading higher to surpass a resistance at 3.0523 that the commodity’s price failed to break out last week. Recent moves sent the market into the overbought zone, as indicated by RSI index that has surged to as high as 74.65. However, the price is likely to extend its uptrend as ADX continued to edge higher, suggesting a strengthening bullish force in the market.

Trade suggestion

Buy Stop at 3.0700, Take profit at 3.1000, Stop loss at 3.550



Natural Gas


Natural gas futures prices breached a strong support at 2.8800 after its price action broke out of a slopping upward trend line that connects higher lows. The move signaled a reversal into a downtrend. With the RSI index heading downwards while ADX index on a rise, the commodity is expected to test a significant level at 23.6% Fibonacci level.

Trade suggestion

Sell Stop at 2.8700, Take profit at 2.8450, Stop loss at 2.8830



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Dollar Remains Fragile, Gold Jumps to The Highest Level Since November

Gold futures prices rose sharply on Monday, extending its gains to a second straight trading session. The precious metal surged to the highest level in more than nine months as the dollar has still been dragged down by disappointing remarks of Fed Chair Yellan last week.

Gold for October delivery jumped noticeably more than 1 percent to trade at $1,306.70 an ounce – the highest level since November 9th, 2016. The dollar had slumped against a basket of global currencies on Friday and remained weak in the first trading of the new week due to falling expectations of a rate hike later this year.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, traded in mixed fashion, losing 0.02 percent to 92.35 and lingering near its weakest level of 2017.

Speaking at the annual central bankers’ meeting in Jackson Hole, Wyoming, Federal Reserve chair Janet Yellen last Friday avoided talking about monetary policy. Instead, she defended rules adopted in response to the financial crisis, reiterating that any rollback of post-crisis financial reforms should be “modest”. Yellen’s comments sparked uncertainty as to whether the central bank will raise rates one more time or unwind the central bank’s balance sheet later this year.

A weak dollar tends to boost gold’s prices as it helps boost attractiveness of gold to holders of other currencies.

Trade suggestion

Buy Stop at 1,307.00, Take profit at 1,313.00, Stop loss at 1,304.00


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Euro Takes Off Against Canadian Dollar As Crude Oil Futures Drop Sharply

The euro rose dramatically versus its Canadian counterpart on Monday, extending its rally to a second straight trading session. The single currency surged to the highest level in nearly two week as the Loonie has still been dragged down by tumbling crude oil prices.

The currency pair EURCAD jumped more than 0.5 percent to trade at $1.49600 – its strongest level since August 16th.

The Canadian dollar was broadly lower against its peers as oil futures headed sharply lower on Monday. October West Texas Intermediate crude tumbled by around 3.4 percent to trade at $46.72 a barrel on the New York Mercantile Exchange, heading for their lowest settlement in about a month

Meanwhile, the single currency has been supported by European Central Bank President Mario Draghi who avoided giving fresh clue on when the bank might tighten its stimulus program at Jackson Hole last week. However, Draghi claimed that the recovery in the euro area was gaining momentum.

Trade suggestion

Buy Stop at 1.49600, Take profit at 1.50000, Stop loss at 1.49400


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GBP/CHF

From GMT 07:40 28/08/2017
Till GMT 21:00 28/08/2017

Sell at 1.23000
Take profit at 1.22500
Stop loss at 1.23200

 

[CSFX.Support]

Daily Report on August 29, 2017



Escalating geopolitical tensions sapped investors' appetite for risky investments. Asian shares and U.S. stock futures tumbled on Tuesday, causing investors to pile into safe-havens assets such as the Japanese Yen, gold, Swiss franc and U.S. Treasuries. South Korea’s Kospi index led declines across the region, losing 1.2 percent. The S&P/ASX 200 Index and Hong Kong’s Hang Seng Index dropped 0.9 percent and 0.4 percent, respectively.

The Topix index declined 0.3 percent on the back of a strengthening Yen. The yen advanced 0.4 percent to 108.81 per dollar while gold advanced 0.7 percent to $1,317.02 an ounce, extending a 1.3 percent advance on Monday. Contracts on the S&P 500 Index were down 0.6 percent after falling as much as 0.9 percent. The underlying measure was little changed on Monday.

North Korea was reported to fire an unidentified ballistic missile passing over northern Japan. The act reignited tensions after a war of words between Pyongyang and Washington earlier this month. Earlier this month, Pyongyang had threatened to fire a missile over Japan toward the U.S. territory of Guam in a respond to U.S. President Donald Trump’s warnings that any threat North Korea presented to the United States would be met with “fire and fury.

In a speech following the missile’s launch, Prime Minister Shinzo Abe claimed that it “is an unprecedented, grave and serious threat” and that he agreed with Trump to increase pressure on North Korea. Japan did not only ask the United Nations Security Council to hold an emergency meeting but also urged China and Russia to join in taking action against Kim Jong Un’s regime.



Technicals

GBPCHF



As can be seen from the price chart, GBPCHF has been under downward pressure exerted by two MAs that are hanging above the price action. The pair has breached a strong support at 1.22500 and is heading towards another firm support at 1.21500. While RSI index has jumped into the oversold zone, ADX index is on a rise with a widening gap between –DI and +DI lines.

Trade suggestion

Sell Stop at 1.22200, Take profit at 1.21500, Stop loss at 1.22500



EURCAD



EURCAD has broken above a firm resistance at 1.50000 after resuming its rally following a short consolidation. While RSI index has jumped into the overbought zone, ADX index is on a rise with a widening gap between +DI and -DI lines. The pair is forecast to edge higher in an attempt to test a resistance at 1.51000.

Trade suggestion

Buy Stop at 1.50400, Take profit at 1.51000, Stop loss at 1.50100



Natural Gas



Natural gas’s price action has broken out of a shrinking trading range that connects lower highs and higher lows. The commodity’s price breached this range from below, which indicates a strong bullish force in the market. RSI index is rising to as high as 60.82, signaling further advances for natural gas’ prices. The resistance at 3.000 is expected to be tested.

Trade suggestion

Buy Stop at 2.9750, Take profit at 3.000, Stop loss at 2.9650



SILVER


Silver extended its rally following a period of moving sideways. The market fell into a consolidation after the price action broke out of a significant level at 50.0% Fibonacci retracement. RSI has soared to as high as 72.66, indicating a dominating bullish force in the market. A resistance at 17.700 is within the sight.

Trade suggestion

Buy Stop at 17.570, Take profit at 17.700, Stop loss at 17.500



DAX 30 Index


Germany’s DAX 30 index gapped down on Tuesday and has breached a support at 11936.00 – the lowest level since August 11th. RSI is pointing sharply downward, suggesting a strengthening bearish momentum dominating in the market. The benchmark stock index is anticipated to test a significant level at 38.2% Fibonacci retracement.

Trade suggestion

Sell Stop at 11920.00, Take profit at, Stop loss at

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Escalating Geopolitical Tensions Roil Markets, Yen Jumps to 4-month Highs Versus Dollar

Japan’s currency gained versus all major developed peers on Tuesday, especially surging to a four-month high against the U.S. dollar after North Korea fired a missile over Japan. The act reignited tensions after a war of words between Pyongyang and Washington earlier this month.

The Yen had jumped to as high as 108.326 yen per dollar in early trade- the highest level since April 18th – before retreating to 108.780 at the end of Asian morning trading session. North Korea was reported to fire an unidentified ballistic missile passing over northern Japan.

Earlier this month, Pyongyang had threatened to fire a missile over Japan toward the U.S. territory of Guam in a respond to U.S. President Donald Trump’s warnings that any threat North Korea presented to the United States would be met with “fire and fury.

In a speech following the missile’s launch, Prime Minister Shinzo Abe claimed that it “is an unprecedented, grave and serious threat” and that he agreed with Trump to increase pressure on North Korea. Japan did not only ask the United Nations Security Council to hold an emergency meeting but also urged China and Russia to join in taking action against Kim Jong Un’s regime.

Escalating geopolitical tensions sapped investors’ appetite for risky investments. Asian shares and U.S. stock futures tumbled on Tuesday, causing investors to pile into safe-havens assets such as the Japanese Yen as Japan is the world’s biggest creditor nation and it has big current account surpluses.

Trade suggestion

Sell Stop at 108.750, Take profit at 108.350, Stop loss at 108.950


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U.K. Shares Join Global Share Sell-off, Firm Pound Builds Up Pressure

U.K. shares reopened and dropped sharply on Tuesday after having been closed in the previous session for the August Bank Holiday. Joining a selloff in global stock markets, the FTSE 100 index tumbled after North Korea launched a ballistic missile over northern Japan.

The FTSE 100 index plunged by 1.40 percent to retest a firm support at 7,300.00 – lowest since August 21st as investors’ appetite for risky investments was sapped due to news that North Korea fired the first missile over the main lands of Japan since 2009.

While no sector traded higher, a strong pound also contributed to providing some downside. Sterling added more than 0.2 percent versus dollar, sending the pair GBPUSD to as high as $1.2966, compared with $1.2933 late Monday in New York. A stronger currency tends to hurt shares of multinational companies that make the bulk of sales and earnings overseas.

Trade suggestion

Sell Stop at 7290.00, Take profit at 7255.00, Stop loss at 7310.00


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USD/CHF

From GMT 11:00 29/08/2017
Till GMT 21:00 29/08/2017

Sell at 0.94400
Take profit at 0.94000
Stop loss at 0.94600

 

[CSFX.Support]

Daily Report on August 30, 2017



Global shares advanced on Wednesday as tensions surrounding North Korea eased. Following Asian shares that closed higher, European stocks were on a rise with almost every sector of the Stoxx Europe 600 Index climbing. The index rose 0.5 percent while the U.K.’s FTSE 100 Index and the Germany’s DAX Index recorded the biggest advance in more than a week. The former jumped 0.3 percent and the latter added 0.6 percent.

In Asian trading session, the MSCI Asia Pacific Index rose 0.2 percent. Japan’s equities also traded higher as the Japanese yen lost ground and fell 0.2 percent to 109.96 per dollar. The Topix index climbed 0.6 percent at the close in Tokyo. The Kospi index and the Hang Seng Index soared 0.3 percent and 1.2 percent, respectively. Australia’s S&P/ASX 200 Index and the Shanghai Composite Index were flat.

Crude oil futures prices dipped on Wednesday in spite of a large drop in U.S. stocks. The American Petroleum Institute on Tuesday reported that U.S. crude oil inventories fell by an estimated 5.8 million barrels last week. Analysts had expected a draw of 1.9 million barrels. On the New York Mercantile Exchange crude futures for October delivery dipped nearly 0.3% to $46.31.

Data released by the Australian Bureau of Statistics earlier today showed the value of construction work done in Australia increased 9.3 percent last quarter, beating estimates calling for a rise 0.9 percent. Whereas, monthly building approvals were reported to fall 1.7 in July, topping expectations for a 5 per cent fall.



Technicals

GBPJPY



GBPJPY has been tracing an uptrend that had sent its price action above a significant level at 23.6% Fibonacci retracement. With the support from two MAs that are lingering below the price action, the pair is anticipated to test a strong resistance at 143.000. RSI is at as high as 70.60, indicating a dominating bullish force in the market and signaling further advances.

Trade suggestion

Buy Stop at 142.300, Take profit at 143.000, Stop loss at 142.000



AUDUSD



AUDUSD tumbled from a one-month high at 0.79950 with its price action dropping below the short-term MA20. The long-term MA50 is expected to be broken below as the market has jumped into the negative territory side because the RSI index plunged to as low as 48.48. A support at 0.78800 is forecast to be tested.

Trade suggestion

Sell Stop at 0.79300, Take profit at 0.78800, Stop loss at 0.79500



USDJPY



USDJPY resumed its downtrend following a short consolidation that came after the pair surpassed a firm resistance at 108.750. While the RSI index is heading higher, ADX index is also on experiencing some upticks, which indicates a strengthening bullish momentum in the market. A resistance at 23.6% Fibonacci level is within the sight.

Trade suggestion

Buy Stop at 110.100, Take profit at 110.600, Stop loss at 109.900



WTI



U.S. crude oil futures prices have been trading sideways to lower above the level 46.100. The commodity has been under downward pressure exerted from two MAs that are hanging above the price action and is expected to move lower as the market has been dominated by sellers. RSI index is at as low as 29.82, suggesting further declines.

Trade suggestion

Sell Stop at 46.050, Take profit at 45.150, Stop loss at 46.500



GOLD



Under downward pressure depressed by two MAs hanging above, gold failed to surpass these two dynamic resistances. Additionally, the short-term MA20 has crossed over the long-term MA50 from above, suggesting a reversal into a downtrend. RSI index has tumbled to as low as 41.29, indicating a dominating bearish force in the market.

Trade suggestion

Sell Stop at 1306.00, Take profit at 1298.00, Stop loss at 1310.00



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Dollar Turns Higher Versus Euro Following Better-than-expected U.S. Data

The U.S. dollar rebounded on Wednesday, sending its European counterpart back down to the lowest level since last Friday. The pair EURUSD tumbled from two-and-a-half-year highs logged yesterday after data showed U.S. employments and growth rates were better than expected.

The currency pair lost more than 0.5 percent to trade at as low as $1.19100 per euro, paring earlier gains which had sent the pair to a high of $1.20692 – the level that had not been seen since early 2015. The dollar gained ground versus most of its peers after the Automatic Data Processing reported that U.S. private employers added 237,000 jobs in August.

The figure was well above economists’ expectations which called for a gain of 183,000 jobs.

Later in the week, the U.S. Labor Department will release its August nonfarm payrolls report at on Friday amid expectations that the data will show jobs growth of 180,000 in August, following an increase of 209,000 last month. The unemployment rate forecast to hold steady at 4.3% while average hourly earnings are expected to rise 0.2% after adding 0.3% a month earlier.

Besides data on U.S. job market, figures on second-quarter economic growth were also released. The Commerce Department reported that U.S. economic rose at 3% rate in the three-month period to June. The reading was revised up from an initial rate of 2.6% and marked the fastest quarterly growth rate in more than two years following a rise of 1.2% in the first quarter.

Stronger consumer spending was the main cause for the upward revision. Indeed, consumer spending was reported to jump at the rate of 3.3% last quarter, up from the government’s original estimate of a 1.9% gain.

Trade suggestion

Sell Stop at 1.19100, Take profit at 1.18700, Stop loss at 1.19300


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Supported by Upbeat U.S. Data, SP500 Index Heads For The 4th Straight Daily Gain

U.S. shares were mostly higher on Wednesday after data showed U.S. employments and growth rates were better than expected.

The S&P 500 added 0.25% to trade at 2451.00, on track for its fourth straight daily increase. Eight out of 11 main sectors were trading higher, led by gains in Materials and Financials. The Automatic Data Processing reported that U.S. private employers added 237,000 jobs in August, which was well above economists’ expectations which called for a gain of 183,000 jobs.

Later in the week, the U.S. Labor Department will release its August nonfarm payrolls report at on Friday amid expectations that the data will show jobs growth of 180,000 in August.

Besides data on U.S. job market, figures on second-quarter economic growth were also released. The Commerce Department reported that U.S. economic rose at 3% rate in the three-month period to June. The reading was revised up from an initial rate of 2.6% and marked the fastest quarterly growth rate in more than two years following a rise of 1.2% in the first quarter.

Trade suggestion

Buy Stop at 2453.00, Take profit at 2460.00, Stop loss at 2450.00


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

EUR/AUD

From GMT 05:50 30/08/2017
Till GMT 21:00 30/08/2017

Sell at 1.49800
Take profit at 1.49400
Stop loss at 1.50000

 

[CSFX.Support]

Daily Report on August 31, 2017



Tracing bullish sentiment on Wall Street boosted by upbeat U.S data in the previous session, Asian shares advanced further also thanks to data that underscored the resilience of Chinese economies. MSCI’s broadest index of Asia-Pacific shares outside Japan added more than 0.2 percent, looking set to close the month 0.7 percent higher. Equity benchmarks rose in Australia, Taiwan, Singapore and Malaysia but retreated in South Korea and China.

Data showed the U.S. economy grew at an upwardly revised 3 percent annualized pace in the second quarter, the fastest pace in two years in the wake of robust consumer spending and strong business investment. The greenback surged to the highest level in two weeks versus the Japanese Yen. A pullback in Yen helped Japan’s equities trade higher. Japan's Nikkei surged 0.6 percent to its best level in two weeks, still down 1.5 percent on the month though. The Topix index also rose 0.6 percent.

Copper for December delivery on the Comex division of the New York Mercantile Exchange climbed more than 0.6 percent to trade at $3.1065 per lb, heading for a third monthly gain in a row. The price also reached its highest point since mid-September 2014, bolster by data that reflected healthy growth at China’s factories in August.

Expectations of better metals demand were fed after China Federation of Logistics and Purchasing (CFLP) reported that China’s official factory gauge further strengthened in August. Indeed, the manufacturing purchasing managers index jumped to 51.7 in August from the 51.4 reading in July. This month’s figure easily topped market forecast for a small dip to 51.3.



Technicals

USDCAD



USDCAD has been tracing a steady uptrend that had sent the pair to as high as 1.26471 – the highest level since August 18th. The bull is dominating in the market, as indicated by the RSI index that has stepped into the overbought territory. Further advances are anticipated with a resistance at 1.26900 within the sight.

Trade suggestion

Buy Stop at 1.26500, Take profit at 1.26900, Stop loss at 1.26300



NZDUSD




Under downward pressure exerted by two moving averages that are hanging above the price action, the pair NZDUSD has breached a significant support at 38.2% Fibonacci retracement and slumped to the lowest level since June 06th. While RSI index continued to tick lower, ADX index is on a rise, showing a strong bear in the market. A support at 0.71200 is expected to be tested.

Trade suggestion

Sell Stop at 0.71600, Take profit at 0.71200, Stop loss at 0.71800



GBPNZD


GBPNZD rebounded from a support at 1.79200 and is heading higher in an attempt to test a significant level at 38.2% Fibonacci retracement – the highest level since early June. Although RSI index has soared to the overbought zone, ADX index is on a strong rise with a widening gap between +DI and –DI lines. The rally is forecast to be extended.

Trade suggestion

Buy Stop at 0.80600, Take profit at 0.81400, Stop loss at 0.80200



BRENT



Brent crude oil prices resumed its downtrend following a short correction that came after its price action had broken below a significant level at 23.6% Fibonacci retracement. The commodity is anticipated to test a firm support at 50.000 as the market has been dominated by a strengthening bearish momentum. RSI is ticking lower, signaling further declines.

Trade suggestion

Sell Stop at 50.650, Take profit at 50.000, Stop loss at 51.000



GOLD



Gold reversed lower to extend its downtick following a period of consolidation. The precious metal’s price action crossed over the short-term MA20 and is on track to test the long-term MA50 which is at around 1295.00. RSI index has inched down to linger below the 50 level, which indicates a strengthening bearish momentum in the market.

Trade suggestion

Sell Stop at 1302.00, Take profit at 1295.00, Stop loss at 1305.00



NASDAQ 100



U.S. Nasdaq 100 index breached a strong resistance at 5935.00 yesterday. That was the level that the stock benchmark index failed to break through since mid-August. Both RSI index and ADX index are edging higher, indicating a strengthening bullish force in the market. The index is expected to extend its rally and retest an all-time record high at 5990.00.

Trade suggestion

Buy Stop at 5945.00, Take profit at 5990.00, Stop loss at 5925.00


********************************************
Industrial Metals Given Fresh Boost After China Data, FTSE 100 Heads to Monthly Gains

Stock markets pushed higher in European trading session on Thursday thanks to data that indicated the resilience of the American and Chinese economies. U.K. shares were also on a strong rise, extending their rally to a second straight day after having fallen to a one-week low earlier this week.

The FTSE 100 index jumped more than 0.5 percent to 7400.00 following an advance of 0.4% in the previous session. The stock benchmark index was on track to close the month modestly 0.1 percent higher. The overall performance was supported by gains in the basic materials group that helped offset losses in the oil and gas sector.

Industrial metals’ prices were given fresh boost on Thursday in the wake of data that reflected healthy growth at China’s factories in August. Copper for December delivery on the Comex division of the New York Mercantile Exchange climbed more than 0.6 percent to trade at $3.1065 per lb, heading for a third monthly gain in a row.

Expectations of better metals demand were fed after China Federation of Logistics and Purchasing (CFLP) reported that China’s official factory gauge further strengthened in August. Indeed, the manufacturing purchasing managers index jumped to 51.7 in August from the 51.4 reading in July. This month’s figure easily topped market forecast for a small dip to 51.3.

Topping the list of gainers on the FTSE 100, shares of copper producer Antofagasta PLC soared more than 4.6 percent while those of Anglo American PLC and Glencore PLC advanced by 2.79% and 2.59%, respectively. Shares of iron ore producer BHP Billiton PLC added 1.65%.

Trade suggestion

Buy Stop at 7400.00, Take profit at 7440.00, Stop loss at 7380.00


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

China Factory Gauge Rises Unexpectedly, COMEX Copper To Close The Month Higher

The three-month COMEX copper contract’s prices gapped up in Asian trading session on Thursday, bolster by data that reflected healthy growth at China’s factories in August.

Copper for December delivery on the Comex division of the New York Mercantile Exchange climbed more than 0.6 percent to trade at $3.1065 per lb, heading for a third monthly gain in a row. The price also reached its highest point since mid-September 2014.

Expectations of better metals demand were fed after China Federation of Logistics and Purchasing (CFLP) reported that China’s official factory gauge further strengthened in August. Indeed, the manufacturing purchasing managers index jumped to 51.7 in August from the 51.4 reading in July. This month’s figure easily topped market forecast for a small dip to 51.3.

Trade suggestion

Buy Stop at 3.1070, Take profit at 3.1300, Stop loss at 3.1000

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

EUR/USD
From GMT 08:15 31/08/2017
Till GMT 21:00 31/08/2017

Sell at 1.18500
Take profit at 1.18000
Stop loss at 1.18700

 

[CSFX.Support]

ECB, RBA and BOC To Hold Monetary Policy Meetings, Fed Speakers Awaited

The U.S. dollar recovered from a short slump to push higher against a basket of the other major currencies on Friday in spite of a weaker-than-expected U.S. Non-farm Payrolls. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged 0.25% higher to close at 92.82 late Friday after initially having fallen to as low as 92.05.

The U.S. economy was reported to have added 156,000 jobs in August from the prior month, which failed to reach economists’ expectations calling for the economy to add 180,000 new jobs last month. According to the report released by the Labor Department, the unemployment rate ticked up to 4.4% from 4.3% last month which was also the expected reading for August.

The dollar found some support after another report from the Institute for Supply Management showed that manufacturing activity in the U.S. reached the strongest level in the last six years in August. U.S. manufacturing index of August climbed to 58.8% from 56.3% in July. That is not only the highest reading since April 2011 but also surpassed economists’ forecast for a reading of 56.8%.

In the week ahead, the U.S. Institute of Supply Management is to release data on August service sector activity on Wednesday amidst expectations for a rise of 1.4 points to 55.3. U.S. markets will be closed in observance of Labor Day Besides the services PMI on Monday.

The coming holiday-shortened week will see comments from a handful of Fed speakers including influential New York Fed President William Dudley, Governor Lael Brainard and Dallas Fed President Robert Kaplan.

Turning to the Euro, the single currency lost 0.41% to close at $1.1859 on Friday, after rising to a two-and-a-half year high of 1.2069 on Tuesday. The European Central Bank’s latest interest rate decision is due on Thursday with no major policy changes expected.

President Mario Draghi’s press conference which will be held 45 minutes after the announcement will draw market attention, as investors look for fresh clues on when and how the central bank would start unwinding its massive quantitative easing program.

Also on Tuesday, the Reserve Bank of Australia is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision.

On Wednesday, the Bank of Canada’s interest rate decision is due with most experts expecting the central bank to hold its benchmark rate at 0.75% as the central bank did hike rates for the first time in seven years at its previous meeting in July. The BOC also left the door wide open to further moves, causing investors to price in at least one more rate increase by the end of this year.

Besides the BOC, market participants will focus on monthly trade figures, as well as the closely-watched jobs report which are scheduled to be posted on Friday.

The U.K. will release readings on August construction sector activity on Monday, followed by a report on the service sector on Tuesday and one on July manufacturing production on Friday. While the construction PMI is forecast to tick higher to 52.0 from 51.9 a month earlier, a survey on Britain’s giant services sector is forecast to edge down to 53.5 from 53.8 last month.

China is scheduled to release August trade figures amidst expectations that the country’s trade surplus widened to $48.6 billion last month from a surplus of $45.7 billion in July. Exports are forecast to have climbed 5.1% in August from a year earlier, after having increased by 7.2% a month ago, while imports are expected to rise 10.0%, following a jump of 11.0% in July.

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

Gold Hits One-Year Highs After North Korea Test Provokes A Shift to Safe Havens.

Gold futures prices jumped on Monday as investors flocked into safe-haven assets after North Korea tested a nuclear bomb over the weekend.

Gold for September delivery climbed 0.8 percent to trade at $ 1,335.30 an ounce, retreating a little bit after having briefly hitting the highest level since September 11th, 2016 at as high as $1339.00. The precious metal was supported after reports that North Korea conducted a sixth and significantly larger hydrogen-bomb test than seen before on Sunday.

South Korea’s Defense Ministry on Monday reported that Pyongyang is making preparations for the possible launch of another intercontinental ballistic missile. The next weapons test is forecast to be processed around Sept. 9, when North Korea marks the anniversary of its foundation in 1948.

The move stepped up pressure on U.S. President Donald Trump and reignited the word war which exploded last month following a Washington Post report on North Korea’s nuclear capabilities in early-August. U.S. Defense Secretary James Mattis on Sunday warned North Korea that the U.S. and its allies “have many military options,” saying that any attacks on the U.S., Japan or South Korea “will be met with a massive military response.”

The U.N. Security Council will hold an emergency meeting on Monday.

Global shares suffered a sell-off in both Asian and European trading sessions. Futures on the S&P 500 Index also declined.

Trade suggestion

Buy Stop at 1,335.50, Take profit at 1,340.00 Stop loss at 1,333.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

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

EUR/CAD

From GMT 12:00 04/09/2017
Till GMT 21:00 04/09/2017

Sell at 1.47700
Take profit at 1.47100
Stop loss at 1.48000

 

[CSFX.Support]

Daily Report on September 05, 2017



Global shares remained fragile in Asian and European trading session while U.S. stocks were poised to open lower on Tuesday, amid lingering unease over North Korean plans for a ballistic missile launch after the country conducted its sixth nuclear test on Sunday.

Whereas the Stoxx Europe 600 Index struggled for direction, the MSCI Asia Pacific Index was little changed after the close following a decline of 0.6 percent on Monday, which is the steepest drop since August 11th. U.S. markets reopened on Tuesday after having been closed for trade on Monday in observance of Labor Day.

Japan’s Topix index plunged 0.8 percent at the close as the Japanese Yen extended gains. South Korea’s Kospi index lost 0.1 percent and Hong Kong’s Hang Seng Index fluctuated. By contrast, Australia’s S&P/ASX 200 Index added 0.1 percent while with stock benchmark indexes in China and Singapore were in positive territories.

Futures on the S&P 500 Index sank 0.3 percent. The dollar retreated a little bit after a speech made by Fed Governor Lael Brainard. The Fed policymaker on Tuesday claimed that U.S. inflation is falling “well short” of target. Therefore, Brainard said that the central bank should be cautious about raising its interest rates further.



Technicals

USDCAD


USDCAD remained week, extending its downward rally following a period of consolidation. The pair tumbled to a low of 1.23390 last Friday – the lowest level since late-June 2016. The pair is likely to keep heading downwards as the bear is dominating in the market. Indeed, while the RSI index is pointing lower, ADX index is on a rise with a widening gap between the –DI and +DI lines.

Trade suggestion

Sell Stop at 1.23700, Take profit at 1.23000, Stop loss at 1.24000



USDJPY


USDJPY has been tracing a downtrend after rebounding from a strong resistance at 23.6% Fibonacci level. The price action crossed over both the short-term MA20 and the long-term MA50 from above, indicating a strong bearish momentum. RSI continued to edge lower, suggesting further declines for the currency pair. A support at 108.700 is forecast to be tested.

Trade suggestion

Sell Stop at 109.100, Take profit at 108.700, Stop loss at 109.300



SILVER


As can be seen from the price chart, silver prices have been moving sideways to higher with support from two MAs that are lingering below the price action. The bullish momentum is strengthening in the market, as indicated by a rising RSI index which has soared to as high as 65.18. Further advances are anticipated with a resistance at 18.100 within the sight.

Trade suggestion

Buy Stop at 17.940, Take profit at 18.100, Stop loss at 17.860



Natural Gas



Natural Gas futures prices tumbled after having failed to surpass a significant resistance at 38.2% Fibonacci retracement. The commodity has sent its price action below the short-term MA20 and looks set to tick lower towards the long-term MA50. RSI index has dropped below the 50 level, suggesting a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 2.9800, Take profit at 2.9400, Stop loss at 3.000



FTSE 100 Index


U.K.’s FTSE 100 Index reversed lower, sending its price action back below a couple of moving averages. The short-term MA20 has crossed over the long-term MA50 from above, confirming a reversal into a downtrend. The market has jumped into the bearish territory, as indicated by the RSI index that has plunged to as low as 40.56. Further declines are expected for the index.

Trade suggestion

Sell Stop at 7395.00, Take profit at 7370.00, Stop loss at 7405.00


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

New Zealand Dollar Takes Off versus the Greenback After GDT Auction Prices Tick Up

The New Zealand dollar traded sharply higher versus its American counterpart on Tuesday after reports showed prices in the latest Global Dairy Trade (GDT) auction in New Zealand advanced while new orders for U.S.-made goods recorded their biggest drop in nearly three years in July.

The Kiwi jumped more than 1.3 percent against the U.S. dollar in North American trading session on Tuesday to the highest level since August 30th. The price index reported an increase of 0.3% at the 5th sale of the 2017/18 season following a 0.4% decline at the previous sale.

Although whole Milk Powder prices fell 1.6% after having declined by 0.6% previously and Skim Milk Powder prices fell 1.2%, butter prices recorded an increase of 3.8% from the previous auction to just below the $6,000 per tonne.

Meanwhile, turning to the greenback, the Commerce Department reported that factory goods orders tumbled 3.3 percent in July amid a slump in demand for transportation equipment. While June’s data was revised upwards to show orders rising 3.2 percent, adding 0.2% from previously reported of 3.0 percent surge, July’s reading marked biggest drop since August 2014.

Trade suggestion

Buy Stop at 0.72500, Take profit at 0.72900 Stop loss at 0.72300


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

U.S. Shares Tumble on geopolitical tensions, Yen Gains Ground Against Euro

The Japanese Yen surged to a more-than-one-week high versus the euro on Tuesday as haven currencies like the yen and the Swiss franc sustained their steam following North Korea’s latest nuclear test.

The pair EURJPY plunged by 0.7 percent to trade at as low as 129.61 yen per euro in North American trading session on Tuesday – the lowest level since August 25th. The yen was supported as elevated geopolitical tensions on the Korean Peninsula sapped investors’ confidence in risky assets.

South Korea’s Defense Ministry on Monday reported that Pyongyang is making preparations for the possible launch of another intercontinental ballistic missile. The next weapons test is forecast to be processed around Sept. 9, when North Korea marks the anniversary of its foundation in 1948.

U.S. shares traded lower on Tuesday. The Nasdaq Composite Index lost more than 1.4%, the Dow Jones Industrial Average was down 1.08% and the S&P 500 shed 1.00%.

Trade suggestion

Sell Stop at 129.600, Take profit at 129.100 Stop loss at 129.800


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

EUR/NZD

From GMT 08:00 05/09/2017
Till GMT 21:00 05/09/2017

Sell at 1.65500
Take profit at 1.65000
Stop loss at 1.65750

 

[CSFX.Support]

Daily Report on September 06, 2017



Asian shares declined on Wednesday, tracking Wall Street’s slide overnight amidst escalating tensions in the Korean Peninsula. Wall Street stocks closed lower with the Dow Jones Industrial Average shedding 1.07 percent, to 21,753.31, the Nasdaq Composite dropping 0.93 percent, to 6,375.57, and the S&P 500 losing 0.76 percent, to close at 2,457.85.

MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.7 percent as investors shied away from risky assets due to concerns over a potential intercontinental ballistic missile launch by Pyongyang which is forecast to be processed around Sept. 9, when North Korea marks the anniversary of its foundation in 1948. Japanese Yen continued to gain ground versus its major peers, sending Japan's Nikkei to a four-month low after losing 0.3 percent.

Equities slid from Tokyo to Sydney with Australian stocks ticking 0.6 percent lower. South Korea's KOSPI index extended its downward rally to the fourth consecutive trading day, down 0.3 percent. While Shanghai dropped 0.4 percent, Hong Kong's Hang Seng retreated 1 percent. The S&P 500 contracts were little changed.

Tensions between North Korea and the U.S. escalated further after one of the country’s top diplomats on Tuesday said that Pyongyang is ready to send “more gift packages” to the United States. Meanwhile, the U.S., Russia, Japan and China are struggling for methods to pressure Kim Jong Un to abandon his nuclear ambitions. Whereas Japan backed the U.S., calling for additional measures against North Korea, Russian President Vladimir Putin rejected U.S. calls for more sanctions, echoing China’s resistance to more punitive measures.



Technicals

GBPNZD


As can be seen from the chart, the pair GBPNZD has been supported by two MAs that are hanging below the price action. The price is facing the short-term MA20 and is likely to surpass this dynamic resistance to trade higher. RSI index is tracing an uptrend which indicates a strengthening bullish momentum in the market.

Trade suggestion

Buy Stop at 1.80500, Take profit at 1.81200, Stop loss at 1.80200



WTI


U.S. crude prices resumed its up moves following a period of consolidation which came after the price action surpassed a significant level at 23.6% Fibonacci level. While the RSI index has jumped into the overbought zone, the ADX index continued to head higher with a widening distance between the +DI and –DI lines. Further advances are expected.

Trade suggestion

Buy Stop at 48.800, Take profit at 49.600, Stop loss at 48.400



Natural Gas



Natural Gas futures prices tumbled after having failed to surpass a significant resistance at 38.2% Fibonacci retracement. The commodity sent its price action below both the short-term MA20 and the long-term MA50. RSI index continued to point lower while ADX index is surging with a widening gap between the –DI and +DI lines, suggesting a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 2.9550, Take profit at 2.9200, Stop loss at 2.7000



FTSE 100 Index


U.K.’s FTSE 100 Index extended its down moves on Wednesday, sending its prices lower below a couple of MAs. The market fell deeper in the bearish territory, as indicated by the RSI index that has plunged to as low as 36.19. Further declines are expected for the index with a strong support of 7290.00 within the sight.

Trade suggestion

Sell Stop at 7330.00, Take profit at 7290.00, Stop loss at 7350.00


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

Canadian Dollar Jumps to 27-month Highs Versus Dollar After BOC Hikes Rate

The Canadian dollar rose sharply against its American counterpart on Wednesday after the Bank of Canada unexpectedly raised interest rates by 25 basis points.

The pair USDCAD fell to as low as 1.21300 right after the rate hike report, which is the lowest level since mid-June 2015 before retreating a little bit. The pair lost 1.24% to trade at 1.22210 in morning trading session on Wednesday. The Bank of Canada raised its interest rate to 1% from 0.75% after its monetary policy meeting, marking its second rate hike this year after the first increase in July.

The central bank said that Canadian economy is becoming more broad-based and self-sustaining given supportive economic data, such as its second quarter GDP which was reported to beat expectations and narrowed trade deficit.

Trade suggestion

Sell Stop at 1.22100, Take profit at 1.22700 Stop loss at 1.22300


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

AUD/USD

From GMT 04:45 06/09/2017
Till GMT 21:00 06/09/2017

Sell at 0.79750
Take profit at 0.79350
Stop loss at 0.79950

 

[CSFX.Support]

Daily Report on September 08, 2017



Asian shares edged higher on Friday while the U.S. dollar tumbled to its weakest levels since the start of 2015 after the European Central Bank kept its rates unchanged while investors kept a wary eye on another U.S. storm which may cause potential economic damage to Florida after devastation in Texas caused by Hurricane Harvey.

The historically powerful Hurricane Irma remained an extremely dangerous Category 5 storm, the highest designation by the National Hurricane Center (NHC).

MSCI’s broadest index of Asia-Pacific shares outside Japan ticked 0.1 percent higher but looked set to close the week 0.2 percent lower. Pressured by a stronger yen, Japan's Nikkei stock index slipped 0.5 percent while the Topix index was little changed. South Korea’s Kospi index and Australia’s S&P/ASX 200 index lost 0.1 percent and 0.2 percent, respectively. By contrast, the Hang Seng Index advanced 0.5 percent in Hong Kong.

According to data released by the Customs General Administration of China, the country’s trade balance data narrowed in August, coming in at a surplus of $41.99 billion. Analysts had expected China’s trade surplus to widen to $48.5 billion in August from July’s $46.7 billion. China’s exports were reported to rise 5.5%, compared to a gain of 6.0% expected while imports remained robust with a jump of 13.3%.

Meanwhle, Japan’s Cabinet Office reported that domestic economy grew less than the government’s preliminary estimate in the second quarter. The reading for second-quarter economic growth rate was revised down to an annualized 2.5 percent from 4 percent, weaker than expectations for a revision to 2.9 percent.



Technicals

GBPJPY



GBPJPY has been tracing an uptrend after having rebounded from the significant level at 23.6% Fibonacci level. The price action has crossed over a couple of moving averages, indicating a strengthening bullish force in the market. RSI index has soared to as high as 57.75, which signals further advances for the currency pair.

Trade suggestion

Buy Stop at 142.200, Take profit at 142.650, Stop loss at 142.000



EURGBP



EURGBP retreated after having failed to surpass a couple of moving averages that are hanging above the price action. The prices has fallen below a support at 0.91343 and looked set to trade lower in an attempt to test another strong support at 0.90700. RSI index has plunged to 37.62, indicating a dominating bearish power in the market.

Trade suggestion

Sell Stop at 0.91150, Take profit at 0.90700, Stop loss at 0.91350



Natural Gas



Natural Gas futures prices extended its downward rally following a period of moving sideways around the level 2.9600. The commodity’s price action has been below both the short-term MA20 and the long-term MA50. RSI index continued to point lower while ADX index is surging with a widening gap between the –DI and +DI lines, suggesting a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 2.9500, Take profit at 2.9200, Stop loss at 2.9750



Dow Jones 30



U.S. Dow Jones 30 Index failed to surpass a couple of moving averages, especially the short-term MA20 which forced the price action to reverse lower. The stock benchmark index retested the weakest level since September 05th and is likely to trade lower in an attempt to test a support at 21650.00. RSI index is heading downwards, confirming the downtrend.

Trade suggestion

Sell Stop at 21720.00, Take profit at 21650.00, Stop loss at 21750.00



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

Copper Futures Tumble After China’s August Copper Imports Hold Steady

Copper futures prices turned south on Friday, on track for their largest one-day decline in weeks. The metal’s prices were under pressure after data released earlier in the day showed Chinese copper imports were flat in August from the previous month.

Copper for November delivery tumbled by nearly 3 percent to trade at $3.0480 a pound on the Comex division of the New York Mercantile Exchange in the last trading session of the week. The contract was set to close the week lower, potentially halting the eight-straight-week streak of gains. That is the longest winning run since 2006.

According to data released by the Customs General Administration of China, China’s imports of copper and copper products came in at 390,000 tons, holding steady for a fourth month in August.

Trade suggestion

Sell Stop at 3.0480, Take profit at 3.0220, Stop loss at 3.0600


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

GBP/USD

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

Buy at 1.31500
Take profit at 1.32000
Stop loss at 1.31250

 

[CSFX.Support]

Daily Report on September 20, 2017



Asian shares were steady on Wednesday even after U.S. stocks continued to set new record highs in the previous session. The U.S. dollar slipped lower against most of its peers as market participants were waiting for the conclusion of the Federal Reserve’s two-day meeting. At the close in NYSE, the Dow Jones Industrial Average climbed 0.18% to close at a new all-time high, the S&P 500 index added 0.11%, while the NASDAQ Composite index gained 0.10%.

MSCI’s broadest index of Asia-Pacific shares outside Japan inched less than 0.1 percent higher with Australia and Taiwan stocks lower after the close on Wednesday. At the close in Sydney, the S&P/ASX 200 lost 0.12%. Meanwhile Japan's Nikkei was roughly flat. By contrast, Shanghai’s SSE Composite Index rose 0.3 percent and Hong Kong's Hang Seng .HSI advanced by 0.2 percent.

The Federal Reserve is scheduled to reveal its monetary policy stance later in the day. Although the central bank is not expected to raise rate in its September meeting, fresh clues on the future path of the bank to raise rates are widely awaited. The Fed is also anticipated to provide details on unwinding part of the central bank’s $4.5 trillion balance sheet.

Crude oil futures climbed higher on Wednesday after having shed 0.9 percent in the previous session. The American Petroleum Institute on Tuesday reported that U.S. inventories expanded by 1.44 million barrels last week following a build of 6.18 million barrels in the preceding week. The reading was well below the 3.9-million-barrel increase projected by analysts. Official data released by the government is due to come out later in the day.



Technicals

NZDJPY


New Zealand dollar continued to trade higher versus its Japanese counterpart, heading to a fourth daily gain in a row. Recent surges sent the pair above a significant level at 23.6% Fibonacci retracement. While the RSI index has jumped into the overbought territory, the ADX index continued to rise with a widening gap between the +DI and –DI lines, which signals further advances for the pair.

Trade suggestion

Buy Stop at 82.100, Take profit at 82.500, Stop loss at 81.900



GBPAUD


GBPADU extended losses which came after the pair hit a strong resistance at 1.69850. The price action did not only tumbled below a significant level at 50.0% Fibonacci retracement but also crossed over the short-term MA20 from above, which indicates a reversal into a downtrend. As the RSI index has plunged to the negative territory, the pair is expected to trade lower to test a support at 38.2% Fibonacci level.

Trade suggestion

Sell Stop at 1.68100, Take profit at 1.67300, Stop loss at 1.68500



EURAUD


EURAUD resumed its downward rally following a short correction. The price action has breached both the short-term MA20 and the long-term MA50 which signals a reversal into a downtrend. RSI index has edged to as low as 43.43 – a level below 50 that suggests a strengthening bearish force in the market. A support at 23.6% Fibonacci retracement is within the sight.

Trade suggestion

Sell Stop at 1.49000, Take profit at 1.48500, Stop loss at 1.49200



AUDNZD


As can be seen from the chart, the pair AUDNZD has been under downward pressure exerted by two Mas that are hanging above the price action. The market has been dominated by sellers which are expected to send the pair lower to breach a significant level at 23.6% Fibonacci retracement. A support at 1.08800 is anticipated to be tested.

Trade suggestion

Sell Stop at 1.09250, Take profit at 1.08800, Stop loss at 1.09450



WTI


U.S. West Texas Intermediate crude prices have been trading in a range between a support at 49.200 and a resistance at 50.300 for nearly one week. The commodity gapped up on Wednesday and looks set to break out of this range from below. Two Mas are supporting for the price action. As the bull is still dominating in the market, crude oil price is expected to trade higher to test the level 51.000.

Trade suggestion

Buy Stop at 50.400, Take profit at 51.000, Stop loss at 50.100



GOLD


Gold has been tracing a steady uptrend which has brought its price action above both the short-term MA20 and the long-term MA50. Furthermore, the short-term MA20 has crossed over the long-term MA50, signaling a reversal into an uptrend. Both ADX and RSI indices are rising, indicating a strong bullish momentum in the market and suggesting further advances for the precious metal.

Trade suggestion

Buy Stop at 1316.00, Take profit at 1323.00, Stop loss at 1313.00




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

Earnings Hit by Cyber-attack and Hurricane Harvey, FedEx Shares Slip

Shares of FedEx Corp. reversed lower on Tuesday after having closed the regular trading session 0.5% higher. Shares were hit after the courier delivery services company reported fiscal first-quarter earnings below expectations.

FedEx’s shares lost nearly 1.4 percent in after-hours trading on Tuesday after the Memphis, Tennessee-based company cited a cyber-attack and Hurricane Harvey as causes for its plunge in earnings. FedEx reported earnings of $596 million, or $2.19 a share for the last quarter, down from $715 million, or $2.65 a share, in the year-ago period.

Adjusted for one-time items, FedEx posted EPS of $2.51, also down from $2.82 a share recorded a year ago. Meanwhile, revenue was reported to advance to $15.3 from 14.7 billion a year ago.

The logistics company said that its revenue was affected by the TNT Express cyber-attack, which offset results from higher base rates, while it had to bear more expenses from higher costs at FedEx Ground, higher tax rates, and the impact from Hurricane Harvey.

FedEx downgraded its 2018 adjusted fiscal-year earnings forecast from a previous range of $12.45 to $13.25 to a range of $11.05 to $11.85. This range is well below analysts’ forecast for earnings of $13.01 per share for the full year.

Trade suggestion

Sell Stop at 213.00, Take profit at 211.00, Stop loss at 214.00


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

Oil Futures Shrug Off Large Build in U.S. Inventories, On Course for Largest Q3 Gain in 13 Years

Crude oil futures prices surged strongly to the highest level in nearly four months on Wednesday even after the release of U.S. data that showed domestic stockpiles rose more than expected last week.

Contracts of West Texas Intermediate crude for November delivery advanced 1.8 percent to $50.79 a barrel, which is the strongest level since May 25th. Oil prices briefly softened on Wednesday after data from the U.S. Energy Information Administration Wednesday indicated that domestic crude supplies climbed by 4.6 million barrels for the week ended September 15.

The reading was well above analysts’ forecast calling for a rise of 2.4 million barrels while a report published by the American Petroleum Institute late Tuesday showed a build of 1.4 million barrels only.

Oil is heading towards its largest third-quarter gain in 13 years as prices were supported by comments from Iraqi oil minister who claimed that the Organization of the Petroleum Exporting Countries and its allies are extending or deepening output cuts in an attempt to reduce a global supply glut.

Speaking at an energy conference on Tuesday, Iraqi oil minister Jabar al-Luaibi said that OPEC and other producers are considering a range of options to help rebalance the crude oil market and prop up the price after the current agreement’s expiries in March. Crude oil prices have risen about 16 percent this quarter, on course for the strongest third-quarter performance since 2004.

Trade suggestion

Buy Stop at 50.750, Take profit at 51.250, Stop loss at 50.500


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

USD/CAD

From GMT 11:30 20/09/2017
Till GMT 21:00 20/09/2017

Sell at 1.22400
Take profit at 1.21600
Stop loss at 1.22800

 

[CSFX.Support]

Daily Report on September 21, 2017



Asian shares slipped while European equity futures jumped on Thursday after the conclusion of policy meetings held by the U.S. Federal Reserve and the Bank of Japan. The MSCI’s broadest dollar-denominated index of Asia-Pacific shares outside Japan dropped 0.5 percent with losses led by Australian shares which lost as much as 0.8 percent.

Japan’s Topix index climbed less than 0.1 percent at the close in Tokyo after having pared wiped out almost all the session’s advance of as as much as 0.7 percent. While the Kospi index shed 0.2 percent, the Hong Kong’s Hang Seng Index and the Shanghai Composite Index swung between gains and losses. By contrast, futures contracts on Euro Stoxx 50 rose 0.4 percent.

The dollar jumped dramatically versus its major rivals on Thursday after the Fed decided to keep its interest rates unchanged in a range of 1 percent to 1.25 percent as widely expected. The central bank announced that it would start shrinking its $4.5 trillion balance sheet next month and trimming its massive holding of U.S. Treasury bonds and mortgage-backed securities that it acquired in the years after the 2008 financial crisis.

The Fed continued to reiterate that interest rates are likely to rise at a “gradual” pace given steady growth and low unemployment which is expected to boost inflation closer to their 2% goal. The central bank signaled that it expects one more interest rate hike by the end of the year with the consideration that hurricane damage are unlikely to affect the economy in the medium term. In its new set of projections, the Fed estimates that three quarter-point rate hikes would be appropriate next year.

Meanwhile, although the Bank of Japan kept its monetary stimulus unchanged on Thursday as expected by economists, the Yen lost ground after a dovish new board member said the effects of the current yield curve program of the Japanese central bank weren’t strong enough which would not be able to bolster inflation higher towards BOJ’s target by the projected time frame of around fiscal 2019.



Technicals

AUDUSD


AUDUSD reversed lower from a nearly-two-week high yesterday to tumble below a couple of moving averages. The pair has breached a strong support at 0.79550 which has prevented the price from falling lower since early September. Although the RSI index has plunged into the oversold zone, ADX indicator is witnessing the –DI line crossing over the +DI line, which indicates a strengthening bearish momentum in the market. The support at 0.78800 is within the sight.

Trade suggestion

Sell Stop at 0.79400, Take profit at 0.78800, Stop loss at 0.79700



USDCHF



As can be seen from the chart, USDCHF has been supported by a couple of moving averages. The pair did not only breach a significant level at 23.6% Fibonacci retracement but also surpassed a firm resistance at 0.96972. The pair is heading upwards towards another Fibonacci level at 38.2%. Both ADX and RSI indices are rising, showing a strong bull run in the market.

Trade suggestion

Buy Stop at 0.97350, Take profit at 0.97800, Stop loss at 0.97150.



USDCAD



USDCAD appeared to extend its uptrend following a short consolidation that came after the pair spiked a two-week high yesterday. The pair has been tracing an upbeat rally in general, as indicated by higher lows and higher highs formed on the price chart. A resistance at 1.24200 is expected to be tested as the market is still dominated by buyers.

Trade suggestion

Buy Stop at 1.23500, Take profit at 1.24200, Stop loss at 1.23200



SILVER



Under the downward pressure exerted by the short-term MA20, the commodity continued to trade lower with its price action falling below a firm support at 17.050. Silver is heading downward to test a significant level at the 38.2% Fibonacci level as the market has been dominated by the sellers. While the RSI index has fallen into the oversold zone, the ADX index is on a rise with a widening gap between the –DI and the +DI lines.

Trade suggestion

Sell Stop at 16.900, Take profit at 16.750, Stop loss at 16.970



GOLD


Gold extended its downward rally after having failed to penetrate the short-term MA20. The precious metal fell below a firm support at 1305.00 and has tumbled to the lowest level in nearly a month at 1294.16. While RSI index is heading lower, ADX index is resurging, signaling further downbeat moves for the gold prices.

Trade suggestion

Sell Stop at 1294.00, Take profit at 1283.00, Stop loss at 1299.00



COPPER


Copper prices have been depressed by a pair of moving averages which helped send the pair below a strong support at 2.9350. The metal price slumped to the weakest level since mid-August and is anticipated to breach the 38.2% Fibonacci level. A another firm support at 2.8750 is expected to be tested.

Trade suggestion

Sell Stop at 2.9200, Take profit at 2.8750, Stop loss at 2.9400





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

Dollar Reaches Two-month Highs Versus Yen On the back of Diverging Monetary Policies

The dollar jumped dramatically versus its Japanese counterpart on Thursday after the conclusion of policy meetings held by the U.S. Federal Reserve and the Bank of Japan which delivered diverging monetary policies.

The greenback shone and soared to the highest level in two months versus the Yen in Asian trading session on Thursday, sending the pair USDJPY 0.17 percent higher to trade at as high as 112.40 yen per dollar. According to the Federal Open Market Committee’s statement released after a two-day meeting starting on Tuesday in Washington, the Fed decided to keep its interest rates unchanged in a range of 1 percent to 1.25 percent as widely expected.

However, the central bank announced that it would start shrinking its $4.5 trillion balance sheet next month and trimming its massive holding of U.S. Treasury bonds and mortgage-backed securities that it acquired in the years after the 2008 financial crisis.

The Fed continued to reiterate that interest rates are likely to rise at a “gradual” pace given steady growth and low unemployment which is expected to boost inflation closer to their 2% goal. The central bank signaled that it expects one more interest rate hike by the end of the year with the consideration that hurricane damage are unlikely to affect the economy in the medium term. In its new set of projections, the Fed estimates that three quarter-point rate hikes would be appropriate next year.

Following the Fed’s statement, Fed fund rate futures rose to a 65 percent chance of a rate hike by December from around 50 percent before the latest meeting. The dollar; therefore, was supported strongly amidst expectations over the central bank raising rates in the near futures.

Meanwhile, although the Bank of Japan kept its monetary stimulus unchanged on Thursday as expected by economists, the Yen turned lower against its major rivals after a dovish new board member said the effects of the current yield curve program of the Japanese central bank weren’t strong enough which would not be able to bolster inflation higher towards BOJ’s target by the projected time frame of around fiscal 2019.

Markets are awaiting a news conference by its governor which is scheduled to be held later in the day.

Trade suggestion

Buy Stop at 112.500, Take profit at 112.900, Stop loss at 112.300


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

Technology Shares Lead Losses, S&P 500 Index To End Four-Day Win Streak

U.S. shares turned lower on Thursday as market participants digested the result of the Federal Reserve’s decision to start unwinding its stimulus program last month and signal that the central bank may raise rates at the end of this year.

The S&P 500 shed 0.3% to trade at 2,501.00, falling from a record logged yesterday. The decline threatens to end a four-consecutive-day win streak for the stock benchmark index. Nine of the 11 primary S&P 500 sectors were trading in the negative territory on Thursday, with technology shares leading declines.

Shares of Nvidia Corp. plunged more than 4 percent after reports that its customer Tesla is working with its rival – chipmaker Advanced Micro Devices – to develop its own A.I. chip for self-driving cars. Meanwhile, shares of Apples remained weak after the technology giant on Wednesday admitted some problems with wireless connectivity for its new Apple Watch 3.

The Fed on Wednesday decided to keep its interest rates unchanged in a range of 1 percent to 1.25 percent as widely expected. The central bank announced that it would start shrinking its $4.5 trillion balance sheet next month and trimming its massive holding of U.S. Treasury bonds and mortgage-backed securities that it acquired in the years after the 2008 financial crisis.

Trade suggestion

Sell Stop at 2500.00, Take profit at 2490.00, Stop loss at 2505.00


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

EUR/AUD

From GMT 03:00 21/09/2017
Till GMT 21:00 21/09/2017

Buy at 1.50400
Take profit at 1.50900
Stop loss at 1.50200

 

[CSFX.Support]

Daily Report on September 22, 2017



Asian stocks tumbled while European shares opened lower on Friday after the nine-day rally on Wall Street came to an end in the previous session. At the close in NYSE on Thursday, the Dow Jones Industrial Average dropped 0.24%, while the S&P 500 index shed 0.30%, and the NASDAQ Composite index shed, 0.52%. U.S. equities were dragged down by a selloff of in the tech sector with a slump in shares of Apple.

Meanwhile, global stock markets have been under pressure amidst escalating tensions on the Korean peninsula following comments from North Korea’s Foreign Minister Ri Yong Ho who on Friday reportedly said the North could consider a hydrogen bomb test on the Pacific Ocean of an unprecedented scale in respond to fresh sanctions from the U.S. and its allies.

Earlier, North Korean leader Kim Jong Un escalated a war of words with U.S. President Donald Trump, saying that Pyongyang will consider the “highest level of hard-line countermeasure in history” against the U.S. action to further isolate the nation.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.7 percent, pulling back from a decade high logged on Tuesday. South Korea's KOSPI index tumbled by 0.9 percent while Japan's Nikkei shed 0.4 percent as the Yen strengthened on the back of latest bout of geopolitical tensions. Futures on the S&P 500 Index retreated 0.3 percent after the underlying benchmark having dropped 0.3 percent on Thursday.

Hong Kong's Hang Seng slipped 0.8 percent and Shanghai Composite Index plunged by 0.5 percent after S&P Global Ratings on Friday said China’s attempts to reduce risks from its rapid buildup in debt are not working as quickly as expected while its credit growth is still too fast. S&P previously on Thursday downgraded China's long-term sovereign credit rating given increasing risks from its rapid debt build-up.



Technicals

USDJPY



The currency pair USDJPY rebounded from a significant level at 38.2% Fibonacci retracement where it also received support from the short-term MA20. The RSI index also reversed losses to continue moving upwards which indicating a dominating bullish force in the market. The pair is expected to test a resistance at 112.700.

Trade suggestion

Buy Stop at 112.100, Take profit at 112.700, Stop loss at 111.800



EURUSD



EURUSD rebounded from a firm support at 1.18700 and sent its price action above a couple of moving averages. The RSI index has soared to as high as 56.44, indicating the strengthening bullish momentum in the market. Meanwhile, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, signaling further advances for the pair.

Trade suggestion

Buy Stop at 1.19800, Take profit at 1.20300, Stop loss at 1.19600



NZDJPY


NZDJPY rebounded from a support at 81.300 following a slump from as high as 82.700. The pair is retesting a resistance at 23.6% Fibonacci retracement after surpassing the short-term MA20 from below. The RSI index pulled back from the 50 line, suggesting a recovering bullish force in the market. The resistance at 82.700 is expected to be tested again.

Trade suggestion

Buy Stop at 81.900, Take profit at 82.700, Stop loss at 81.500



Natural gas


Natural Gas futures prices have fallen into a consolidation after having plunged sharply from a resistance at 3.0830. The price tumbled to the lowest level since September 12nd with recent losses sending the market into the oversold zone. Following the correction, the commodity’s price is expected to trade lower to test a firm support at 2.8800.

Trade suggestion

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



WTI



As can be seen from the chart, the U.S. West Texas Intermediate’s futures have been supported by a couple of moving averages, especially the short-term MA20. While the RSI index is ticking higher, the ADX index is resurging with the +DI line crossing over the –DI line, signaling further advances for the commodity’s prices.

Trade suggestion

Buy Stop at 50.800, Take profit at 51.500, Stop loss at 50.500



CAC 40 Index



France’s CAC 40 Index has been moving sideways to higher around the level 5274.00. The stock benchmark index gapped down at the open on Friday but soon recovered early losses. With the market dominated by bulls, as indicated by the RSI index that is lingering in the overbought zone, the price is anticipate to trade higher in an attempt to test a resistance at 5310.00.

Trade suggestion

Buy Stop at 5280.00, Take profit at 5310.00, Stop loss at 5265.00




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

Canadian Dollar Turns Lower after Core Retail Sales and Inflation Readings Miss Forecasts

The Canadian dollar declined versus its American counterpart after data on core retail sales and inflation rose less than forecast in August.
The pair USDCAD paired early losses to trade at 1.23089, recovering from as low as 1.22520. A report published by the Statistics Canada showed retail sales increased by 0.4% in August after a 0.1% advance in the prior month. The reading beat analysts’ expectations calling for a 0.1% gain.
However, the core reading was weaker than forecast. Indeed, core retail sales advanced only 2 percent in August. July’s figure was also revised downward to 0.4 percent from an initial 0.7% increase.
Canadian inflation also rose less than forecast in August, increasing only 0.1% from the previous month. The CPI index failed to reach forecasts for a 0.2% gain after a flat reading in July. On a yearly basis, CPI jumped 1.4% last month, lower than expectations for a 1.5% rise.

Trade suggestion

Buy Stop at 1.23100, Take profit at 1.23500, Stop loss at 1.22900



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

NZD/USD

From GMT 16:00 22/09/2017
Till GMT 21:00 22/09/2017

Buy at 0.73300
Take profit at 0.73700
Stop loss at 0.73100

 

[CSFX.Support]

Daily Report on September 25th, 2017



European shares edged higher, helped by the weaker euro on Monday as market participants digested the outcome of the German general election held on Sunday. The Stoxx Europe 600 Index rose 0.1 percent and the Germany’s DAX Index added 0.1 percent to trade at the highest in more than 10 weeks.

The result pointed to a win for Chancellor Angela Merkel’s conservative alliance with a much smaller share of the vote. Angela Merkel won a fourth term as German chancellor but her conservative block only took 33 percent of the vote, down 8.5 points from the 2013 election. This was the lowest level since 1949, caused by Markel’s decision to allow 1 million migrants into Germany two years ago.

Meanwhile, the country’s main far-right party, Alternative for Germany, posted a surprisingly strong result, scoring 12.6 percent in the national election on Sunday. The AfG will be the first far-right party to enter the German parliament in more than half a century. Although Merkel’s party is still the biggest parliamentary bloc, she will have to build an uneasy coalition to form a government. The prospect of a potentially unstable coalition with the pro-business Free Democrats (FDP) and Greens weighed down the euro and stocks in the auto sector.

Several Federal Reserve speakers are scheduled to make public appearances on Monday including New York Fed President William Dudley and Chicago Fed President Charles Evans. Fed Chairwoman Janet Yellen and Fed Vice Chair Stanley Fischer are due to deliver speeches on Tuesday and Thursday, respectively.



Technicals

EURAUD



The pair EURAUD gapped down on Monday and continued to trade lower following a short correction. The price action has crossed over a couple of moving averages which confirmed a reversal into a downtrend. While the RSI index is heading downward, the ADX index is on a rise with a widening gap between the –DI and +DI lines, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 1.49300, Take profit at 1.48700, Stop loss at 1.49600



USDCHF



Supported by two moving averages, especially the short-term MA20, the pair continued to track its upward rally after having surpassed a resistance at 0.96972. The price action is heading upwards in an attempt to reach a significant level at 38.2% Fibonacci level. Both ADX and RSI indices are on a rise, indicating a strengthening bullish momentum in the market.

Trade suggestion

Buy Stop at 0.97300, Take profit at 0.97800, Stop loss at 0.97100



EURJPY



EURJPT reversed lower from a firm resistance at 134.373 with recent down moves sending the market into the negative territory, as indicated by the RSI index that has plunged to as low as 43.18. The ADX index is on a strong rise with a widening gap between the –DI and –DI lines, which indicates a strengthening bearish momentum in the market.

Trade suggestion

Sell Stop at 133.000, Take profit at 132.200, Stop loss at 133.400



BRENT



Brent crude prices resumed its rally following a period of moving sideways. The commodity’s price has been supported by a couple of moving averages. Although the RSI index has jumped into the overbought zone, the ADX index is rising with a widening distance between the +DI and –DI lines. The pair is expected to test a resistance at 58.500.

Trade suggestion

Buy Stop at 57.400, Take profit at 58.500, Stop loss at 57.000



COPPER



As can be seen from the chart, copper prices have been under pressure exerted by two moving averages that are hanging above the price action. The commodity failed to sustain its bearish momentum below the 38.2% Fibonacci retracement but is likely to break this level again as the bear is still dominating on the market.

Trade suggestion

Sell Stop at 2.9300, Take profit at 2.8750, Stop loss at 2.9550



FTSE 100 Index



Supported by the short-term MA20, the price action reversed higher after having gapped down in early trade. The U.K.’s stock benchmark index recovered early losses with the bull still overwhelming in the market. RSI is at 51.97, in the positive zone that suggests further advances for the index. A resistance at 7350.00 is expected to be tested.

Trade suggestion

Buy Stop at 7300.00, Take profit at 7350.00, Stop loss at 7280.00




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

Brent Crude Jumps to Two-Year Highs on Rising Expectations of Fast-growing Demand

Brent crude rose to a more-than-two-year highs on Monday, supported by rising expectations that fast-growing demand would help erase a global glut. Meanwhile, a historic but non-binding referendum on independence of Iraqi Kurds is raising regional tensions and fears of instability which caused a threat to Iraqi Kurdistan’s crude exports.

Contracts for Brent crude for November delivery, the global benchmark, soared dramatically by 2.81% to trade at $58.500 a barrel on the ICE Futures Europe exchange. Brent oil has been supported by upward revisions to demand expectations. According to data published by the International Energy Agency earlier in September, its estimate for demand growth in 2017 was increased by 100,000 barrels a day to 1.6 million a day.

Meanwhile, the U.S. Energy Information Administration lowered its forecasts for 2017 and 2018 U.S. crude-oil production to average 9.25 million barrels per day in 2017, down 1% from the previous forecast.

Trade suggestion

Buy Stop at 58.500, Take profit at 59.500, Stop loss at 58.000



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

Euro Plunges After Markel’s Conservative Block Weakened by A Surge in Support for The Far Right.

The euro tumbled against major rivals on Monday as market participants digested the outcome of the German general election held on Sunday. The result pointed to a win for Chancellor Angela Merkel’s conservative alliance with a much smaller share of the vote.

The single currency gapped down versus the dollar in early trade, sending the pair EURUSD down more than 0.3 percent to trade at $1.19100. Angela Merkel won a fourth term as German chancellor but her conservative block only took 33 percent of the vote, down 8.5 points from the 2013 election. This was the lowest level since 1949, caused by Markel’s decision to allow 1 million migrants into Germany two years ago.

Meanwhile, the country’s main far-right party, Alternative for Germany, posted a surprisingly strong result, scoring 12.6 percent in the national election on Sunday. After having narrowly missing out on Bundestag seats four years ago, the AfG, with new leadership and a campaign focused on immigration, will be the first far-right party to enter the German parliament in more than half a century.

Although Merkel’s party is still the biggest parliamentary bloc, she will have to build an uneasy coalition to form a government. The prospect of a potentially unstable coalition with the pro-business Free Democrats (FDP) and Greens weighed down the euro and stocks in the auto sector.

Several Federal Reserve speakers are scheduled to make public appearances on Monday including New York Fed President William Dudley and Chicago Fed President Charles Evans. Fed Chairwoman Janet Yellen and Fed Vice Chair Stanley Fischer are due to deliver speeches on Tuesday and Thursday, respectively.

Trade suggestion

Sell Stop at 1.19000, Take profit at 1.18600, Stop loss at 1.19200



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

USD/CAD

From GMT 06:20 25/09/2017
Till GMT 21:00 25/09/2017

Buy at 1.23600
Take profit at 1.24100
Stop loss at 1.23400

 

[CSFX.Support]

Daily Report on September 26, 2017



U.S. stocks were lower after the close on Monday with the Dow Jones Industrial Average declining 0.24%, the S&P 500 index shedding 0.22%, and the NASDAQ Composite index tumbling by 0.88%. Asian shares also traded lower while gold futures prices extended their rally to a third consecutive trading session on Tuesday as escalating geopolitical tensions on the Korean Peninsula fuelled safe-haven demand.

Japan’s Topix index swung between gains and losses while Hong Kong’s Hang Seng Index was little changed. The latter stock benchmark index tumbled 1.4 percent on Monday, depressed by Chinese property developers after China tightened controls on housing sales at eight major Chinese cities on Friday and over the weekend. South Korea’s Kospi index lost 0.3 percent and Australia’s S&P/ASX 200 Index slipped 0.2 percent.

According to news reported by South Korea’s Yonhap news agency, Pyongyang has been boosting defenses on its east coast after U.S. bombers flew close to the Korean peninsula at the weekend. After Trump claimed on Twitter that North Korean leader Kim Jong Un and Foreign Minister Ri Yong Ho “won’t be around much longer” if they acted on their threats, Ri said that Trump’s Twitter comments were tantamount to a declaration of war and that Pyongyang had the right to take countermeasures.

Crude oil futures continued to jump high on Tuesday after Turkish President Tayyip Erdogan threatened to cut off the pipeline, which usually pumps between 500,000-600,000 barrels per day and carries oil from northern Iraq to the outside world. This act aimed at intensifying pressure on the Kurdish autonomous region over its independence referendum.



Technicals

EURUSD


EURUSD continued to plunge following a short correction that had supported the pair to hit a resistance at 1.18600. The price has fallen to the lowest level in more than one month and looks set to inch down further in an attempt to test a support at 1.17500. While RSI index is heading downwards, the ADX index is on a rise with a widening gap between +DI and –DI lines, suggesting further declines.

Trade suggestion

Sell Stop at 1.18100, Take profit at 1.17500, Stop loss at 1.18400



AUDUSD



As can be seen from the chart, AUDUSD has been under pressure exerted by two moving averages that are hanging above the price action. As indicated by the RSI index that has tumbled to as low as 38.65, the market has been dominated by sellers. ADX index is rising with a widening distance between the –DI and +DI lines, signaling further declines for the pair.

Trade suggestion

Sell Stop at 0.79150, Take profit at 0.78800, Stop loss at 0.79300



EURJPY



EURJPY resumed its downward rally after having reversed lower from a consolidation above the level 132.000. Two moving averages are lingering above the price action, depressing pressure on the price. While ADX index is witnessing a widening gap between the +DI and –DI lines, the RSI index is edging lower. The pair is expected to test a support at 131.200.

Trade suggestion

Sell Stop at 131.950, Take profit at 131.200, Stop loss at 132.300



NZDJPY


NZDJPY has been tracing a downtrend that extended to a fourth consecutive day. The price action has tumbled below a significant level at 38.2% Fibonacci retracement and may slip further as the market has been dominated by sellers. RSI index was down to 34.25, which indicates an overwhelming bearish momentum in the market and suggests further downbeat moves for the currency pair.

Trade suggestion

Sell Stop at 80.600, Take profit at 80.200, Stop loss at 80.800



USDCHF



USDCHF rebounded from a significant level at 23.6% Fibonacci retracement where the pair was also supported by the long-term MA50. The price action surged above the short-term MA20, which signals a reversal into an uptrend. Both RSI and ADX indices are rising, confirming the signal. A resistance at 0.97400 is within the sight.

Trade suggestion

Buy Stop at 0.97000, Take profit at 0.97400, Stop loss at 0.96800



COPPER


Copper prices have been tracing an uptrend whose recent up moves have sent the price action above both the short-term MA20 and the long-term MA50. The commodity is anticipated to tick higher in an attempt to test a firm resistance at 2.9900. RSI index has risen to 54.71 which indicates an overwhelming bullish force in the market.

Trade suggestion

Buy Stop at 2.9550, Take profit at 2.9900, Stop loss at 2.9400


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

Global Shares Under Pressure of Tensions on the Korean Peninsula, Gold Extends Gains

Gold futures prices extended their rally to a third consecutive trading session on Tuesday as escalating geopolitical tensions on the Korean Peninsula fuelled safe-haven demand. The precious metal hold on gains after having jumped sharply in the previous session.

Contracts for November gold added 0.35 percent in Asian trading session after having closed at the highest level in nearly a week on Monday. The metal has been supported by a heated exchange of rhetoric between Trump and Kim over North Korea’s nuclear and missile programs after North Korea conducted its sixth and most powerful nuclear test on Sept. 3.

According to news reported by South Korea’s Yonhap news agency, Pyongyang has been boosting defenses on its east coast after U.S. bombers flew close to the Korean peninsula at the weekend. Leaders on both sides continued to exchange threats and insults.

After Trump claimed on Twitter that North Korean leader Kim Jong Un and Foreign Minister Ri Yong Ho “won’t be around much longer” if they acted on their threats, Ri said that Trump’s Twitter comments were tantamount to a declaration of war and that Pyongyang had the right to take countermeasures.

U.S. stocks were lower after the close on Monday with the Dow Jones Industrial Average declining 0.24%, the S&P 500 index shedding 0.22%, and the NASDAQ Composite index tumbling by 0.88%. Meanwhile, Asian shares also traded lower.

Trade suggestion

Buy Stop at 1312.00, Take profit at 1320.00, Stop loss at 1308.00


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

EUR/CHF
From GMT 16:00 26/09/2017
Till GMT 21:00 26/09/2017

Sell at 1.14150
Take profit at 1.13700
Stop loss at 1.14350

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

AUD/CAD
From GMT 20:00 26/09/2017
Till GMT 21:00 26/09/2017

Sell at 0.97550
Take profit at 0.97200
Stop loss at 0.97700

 

[CSFX.Support]

Daily Report on September 27, 2017



European share prices advanced on Wednesday as President Donald Trump’s administration prepared to outline a new tax plan which was said to be a “very, very powerful document” that would cut taxes “tremendously” for the middle class. The Stoxx Europe 600 Index jumped 0.2 percent to hit the highest in almost 10 weeks.

Meanwhile, the U.K.’s FTSE 100 Index soared 0.4 percent to the strongest level in almost two weeks and Germany’s DAX Index rose 0.2 percent to the highest in almost 11 weeks. Futures on the S&P 500 Index gained 0.2 percent.

The greenback was supported strongly amidst mounting expectations that the U.S. Federal Reserve will raise interest rates for the third time at the end of this year. The Federal Reserve Chair Janet Yellen on Tuesday echoed her colleague - New York Federal Reserve President William Dudley’s comments that the central bank needs to continue gradual interest rate hikes despite uncertainty about the path of inflation.

While Dudley claimed that factors depressing inflation are "fading" and the U.S. economy's fundamentals are sound, Yellen said it would be "would be imprudent to keep monetary policy on hold until inflation is back to 2%," Following Yellen’s speech, the chance that the Fed will raise borrowing costs in December rose to 76 percent.

Crude oil futures were little changed Wednesday after the American Petroleum Institute on Tuesday reported U.S. crude stockpiles fell by 761,000 barrels for the week ended September 22nd. Weekly supply data from the U.S. government will be released later in the day. Markets forecast that the Energy Information Administration would report a climb of 1.3 million barrels in crude inventories.



Technicals

USDJPY


USDJPY extended its upward rally after having rebounded from the 38.2% Fibonacci retracement and crossed over the short-term MA20. The price action is facing another Fibonacci level at 50.0% and is expected to break out of this handle as the market has still been supported by buyers. The ADX index and the RSI index are both rising, indicating a strong bullish force in the market.

Trade suggestion

Buy Stop at 112.950, Take profit at 113.450, Stop loss at 112.750



EURUSD



EURUSD appears to experience a correction after hitting the lowest level since August 21st at 1.17300. Recent sharp down moves have sent the market into the oversold zone, as indicated by the RSI index that has plunged to as low 23.0098. However, ADX index is still on a rise, signaling further declines for the pair. A support at 1.16900 is anticipated to be tested.

Trade suggestion

Sell Stop at 1.17300, Take profit at 1.16900, Stop loss at 1.17500



GBPUSD


GBPUSD has been tracing a downtrend that has sent the pair to the weakest level since September 14th at 1.33800. The short-term MA20 has penetrated the long-term MA50 from above, confirming the reversal into a downtrend. Further declines are expected for the pair as the RSI index is pointing downwards. A support at 1.33000 is within the sight.

Trade suggestion

Sell Stop at 1.33800, Take profit at 1.33000, Stop loss at 1.34200



GBPAUD



GBPAUD has surpassed a significant level at 61.8% Fibonacci retracement after a period of times moving below this handle. With the support from two moving averages lingering below the price action, the pair is anticipated to sustain its rally and retest a one-and-a-half month highs at 1.71600. RSI index is heading upwards, confirming signals for further advances.

Trade suggestion

Buy Stop at 1.71000, Take profit at 1.71600, Stop loss at 1.70700



AUDNZD



Under pressure exerted by two moving averages that are hanging above the price action, the pair AUDUSD has tumbled below the 23.6% Fibonacci retracement. The pair looks set to test a firm support at 1.8400 as the market has been dominated by sellers. RSI index which is at as low 43.97 signals further declines for the pair.

Trade suggestion

Sell Stop at 1.08900, Take profit at 1.08400, Stop loss at 1.09100



DAX



DAX 30 index gapped up on Wednesday and has liberated from a period of moving sideways to rise to the highest level since mid-July. With the support from two moving averages that are moving below the price action, the stock benchmark index is expected to trade higher in an attempt to test a resistance at 12750.00. Both RSI and ADX indices are on a rise, suggesting further advances.

Trade suggestion

Buy Stop at 12680.00, Take profit at 12750.00, Stop loss at 12650.00



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

New Zealand Dollar Loses Ground Vs The Greenback After Yellen’s Speech, Markets Await RBNZ

New Zealand dollar tumbled for the third day in a row versus its American counterpart ahead of the RBNZ’s monetary policy meeting scheduled later in the day. The greenback was supported strongly amidst mounting expectations that the U.S. Federal Reserve will raise interest rates for the third time at the end of this year.

The Kiwi lost more than 0.2 percent to trade at 0.7192 dollar in European trading session. The Federal Reserve Chair Janet Yellen on Tuesday echoed her colleague – New York Federal Reserve President William Dudley’s comments that the central bank needs to continue gradual interest rate hikes despite uncertainty about the path of inflation.

While Dudley claimed that factors depressing inflation are “fading” and the U.S. economy’s fundamentals are sound, Yellen said it would be “would be imprudent to keep monetary policy on hold until inflation is back to 2%,”

Following Yellen’s speech, the chance that the Fed will raise borrowing costs in December rose to 76 percent. Later on Thursday, the Reserve Bank of New Zealand is due to hold a policy meeting and is expected to leave interest rates unchanged at 1.75%. However, investors will look for fresh hints on the bank’s future policy decisions.

Trade suggestion

Sell Stop at 0.71800, Take profit at 0.71400, Stop loss at 0.72000

 

[CSFX.Support]

Daily Report on September 28, 2017



The Kiwi slipped on Thursday versus the greenback after the Reserve Bank of New Zealand on Wednesday kept its interest rates unchanged at 1.75% and commented that the central bank does not expect to raise interest rates in near future given the fact that the economic growth outlook weakens and inflation slows.

Meanwhile, the greenback was supported amidst hopes for an imminent tax reform plan in the U.S. as well as expectations for a December rate hike by the Federal Reserve. Upbeat data released on Wednesday on durable goods orders which showed a jump of 1.7% (versus forecast for 1% advance) following a 6.8% decrease also helped support the U.S. dollar.

Trump on Wednesday proposed the biggest U.S. tax overhaul in three decades which offers tax cut for most Americans. However, the proposal faced an uphill battle in the U.S. Congress and prompted criticism that the plan favors the rich and companies as well as could widen the U.S. budget deficit.

Crude oil futures rose on Thursday after Turkish President Tayyip Erdogan threatened to close Kurdistan region's oil pipeline. The comment came after Monday's referendum vote where Iraqi Kurdistan voted overwhelmingly in favor of independence. Erdogan also said that he could use military force to prevent the formation of an independent Kurdish state.

Meanwhile, data released by the Energy Information Administration on Wednesday showed crude oil inventories fell by 1.8 million barrels last week while gasoline stockpiles added 1.1 million barrels which marked the first increase in four weeks. Refiners raised output following Hurricane Harvey last month, pushing U.S. production to the highest level in over two years. The report also indicated that domestic crude production edged up by 0.4% to 9.55 million last week to the highest level since July 2015.



Technicals

AUDNZD



AUDNZD resumed its downtrend after a short correction which had sent the pair to as high as 1.08866. As can be seen from the chart, the pair has been under downward pressure exerted by two moving averages that are hanging above the price action. While the RSI index is heading downwards, the ADX index is ticking higher, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 1.08500, Take profit at 1.08100, Stop loss at 1.08700



WTI


WTI crude prices tumbled from as high as 52.830 with recent down moves sending the price action below the short-term MA20. The pair is facing the long-term MA50 and is expected to break out of this dynamic support to test another firm handle at 50.300. The RSI index has plunged to as low as 46.17, indicating a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 51.300, Take profit at 50.300, Stop loss at 51.800



Natural Gas



Natural Gas plunged following a period of moving averages with its price action slipping below a couple of moving averages. The prices broke out of a significant level at 38.2% Fibonacci retracement and is expected to cross over another strong support at 2.9965. The RSI index is at a low level at 38.83, showing an overwhelming bearish force in the market.

Trade suggestion

Sell Stop at 3.0000, Take profit at 2.9750, Stop loss at 3.0100



Dow Jones


U.S. Dow Jones rebounded from a support at 22285.00 after a period of moving sideways. Two moving averages have twisted with the price action. Further advances are anticipated as the price action has broken out of two MAs. While RSI index is ticking higher, while ADX index is witnessing a widening gap between the +DI and –DI lines.

Trade suggestion

Buy Stop at 22380.00, Take profit at 22450.00, Stop loss at 22350.00



S&P 500


S&P 500 index has been supported by a couple of moving averages that are lingering below the price action. The stock benchmark index is expected to trade higher in an attempt to break out of the current period of moving sideways. The RSI index is on a rise while the +DI and –DI are moving in different directions. The index is forecast to test a resistance at 2520.00.

Trade suggestion

Buy Stop at 2510.00, Take profit at 2520.00, Stop loss at 2505.00

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

Supported by Upbeat Data and Trump’s Tax Proposal, U.S. Dollar Edges Higher vs NZ Dollar

The New Zealand dollar moved lower against its U.S. counterpart on Thursday, extending its downward rally to a fourth straight session in a row after the Reserve Bank of New Zealand left interest rates unchanged on Wednesday while U.S. President Donald Trump proposed the biggest U.S. tax overhaul in three decades.

The Kiwi slipped more than 0.2 percent on Thursday versus the greenback after the RBNZ kept its interest rates unchanged at 1.75% and commented that the central bank does not expect to raise interest rates in near future given the fact that the economic growth outlook weakens and inflation slows.

Meanwhile, the greenback was supported amidst hopes for an imminent tax reform plan in the U.S. as well as expectations for a December rate hike by the Federal Reserve. Upbeat data released on Wednesday on durable goods orders which showed a jump of 1.7% (versus forecast for 1% advance) following a 6.8% decrease also helped support the U.S. dollar.

Trade suggestion

Sell Stop at 0.71800, Take profit at 0.71400, Stop loss at 0.72000


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

AUD/USD

FromGMT 11:00 28/09/2017
TillGMT 21:00 28/09/2017

Sell at 0.78100
Take profit at 0.78700
Stop loss at 0.78300

 

[CSFX.Support]

Daily Report for September 29, 2017



European shares advanced on Friday, on course for their best monthly gains this year after U.S. stock benchmark indices were at or near record highs in the previous session. In Asian trading session, MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4 percent, paring weekly losses to a 1.7 percent decline after falling for six days in a row.

The index recorded a gain of around 4.7 percent for the quarter, completing its third quarterly gain, the best run since the end of the first quarter 2013. Likewise, the pan-European STOXX 600 steadied at a two-month high while the Eurostoxx 50 index at a three-month top. Germany’s DAX 30 index and U.K.’s FTSE 100 Index both added 0.2 percent.

Among biggest movers on Friday, shares of Volkswagen AG led markets with shares shedding more than 3 percent after the German carmaker warned that its third-quarter operating result would be affected by a charge of around €2.5 billion ($2.94 billion) as a result of recalls in North America. Volkswagen is scheduled to publish third-quarter results on October 27.

Data released by the Japan’s Statistics Bureau, the country’s core inflation accelerated in August and extended the upward rally to an eighth straight month. Indeed, nationwide core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, was reported to advance 0.7 percent, in line with forecast following a 0.5 percent rise in July.

Meanwhile, Japan’s industrial production climbed 2.1 percent last month, beating an estimate of 1. 8 percent thanks to the fact that manufacturers of construction equipment, autos, and electronic parts produced more goods.



Technicals

AUDCAD



As can be seen from the price chart, the pair AUDCAD has been under downward pressure exerted by two moving averages hanging above the price action. The pair has breached a firm support at 0.97500 and is heading downwards in an attempt to retest another strong support at 0.97000. While RSI index is edging lower, ADX index is on a rise, signaling further declines.

Trade suggestion

Sell Stop at 0.97400, Take profit at 0.97000, Stop loss at 0.97600



GBPUSD


The pair GBPUSD has been depressed by two moving averages which are lingering above the price action, especially the short-term MA20. The pair once again surpassed a strong support at 1.33800 and is edging lower to attempt a level at 1.33000. While ADX index is rising with a widening gap between the –DI and +DI lines, RSI index is ticking down, indicating a strengthening bearish force.

Trade suggestion

Sell Stop at 1.33600, Take profit at 1.33000, Stop loss at 1.33900



AUDUSD



AUDUSD reversed lower after having hit a strong resistance at 38.2% Fibonacci retracement. The price is expected to trade lower under downward pressure from a couple of moving averages. The pair is anticipated to test a support at 0.77900 with the market dominated by sellers, as indicated by RSI index that has plunged to as low as 36.77.

Trade suggestion

Sell Stop at 0.78300, Take profit at 0.77900, Stop loss at 0.78500



GOLD



As can be seen from the chart, the price action has been depressed by a couple of moving averages, especially the short-term MA20. The RSI index reversed lower, remaining in the bearish zone, indicating a recovering bearish force in the market. The precious metal is expected to trade lower, likely to test a significant level at 61.8% Fibonacci retracement.

Trade suggestion

Sell Stop at 1286.00, Take profit at 1278.00, Stop loss at 1289.00



USDCAD


USDCAD rebounded from a dynamic support at the short-term MA20 after a period of moving sideways. The pair is anticipated to trade higher due to the fact the buyers are dominating in the market, as indicated by the RSI index that has edged up to as high as 62.00. A resistance at 1.25150 is anticipated to be tested.

Trade suggestion

Buy Stop at 1.24700, Take profit at 1.25150, Stop loss at 1.24500



DAX



Germany’s DAX 30 Index has been tracing an uptrend that has sent the stock benchmark index to the highest level since late June. The index is facing a strong resistance at 12750.00 but is expected to head higher. With both RSI and ADX index surging strongly which indicates a strengthening bullish force in the market, a resistance at 12830.00 is anticipated to be tested.

Trade suggestion

Buy Stop at 12750.00, Take profit at 12830.00, Stop loss at 12710.00



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

U.K. Stocks Soar to Two-week Highs As Sterling Declines Following Weaker-than-expected GDP Data

U.K. stocks jumped to highest level in more than two weeks on Friday, heading for a second straight weekly gain thanks to a weak British Pound that came after a worse-than-expected Q2 GDP data.

The benchmark FTSE 100 index soared dramatically nearly 0.6 percent to trade at 7,363.05 – the highest level since September 14th – with all sectors trading in the positive territory. The index looked set to close the week with a rise of 0.7 percent which would help to pare a monthly pullback to roughly 0.9%.

Sterling dropped 0.57 percent in European morning trading session versus the dollar after the Office for National Statistics reported the second-quarter gross domestic product that was revised lower. According to the report, the final reading of year-on-year growth slipped to 1.5%, down from a previous estimate of 1.7%.

A weak pound helps boost shares of multinational companies on the FTSE 100 due to the fact that their companies’ oversee earnings can be increased when converted back to sterling.

Trade suggestion

Buy Stop at 7365.00, Take profit at 7400.00, Stop loss at 7350.20


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

Volkswagen AG Increases Provisions on Modifying Diesel Vehicles in U.S., Shares Slip

Shares of Volkswagen AG tumbled on Friday after the German car maker warned that its third-quarter operating result would be affected by higher costs associated with the repurchase of diesel cars in North America.

Volkswagen’s equities shed more than 2.3 percent in European trading session to trade at 140.50 euro per share following the announcement that the company added provisions of around 2.5 billion euros ($2.94 billion) to the already amount of around 20 billion euros spending on its diesel emissions scandal.

The German car maker said that settlements in North America proved to be “far more technically complex and time consuming” than expected which led to the increase in provisions as the company has to bear more costs from buyback and retrofitting programs for models fitted with its 2.01 TDI engine.

Volkswagen is scheduled to publish third-quarter results on October 27.

Trade suggestion

Sell Stop at 140.50, Take profit at 139.00, Stop loss at 141.20

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

Nasdaq 100 Index/

From GMT 07:00 29/09/2017
Till GMT 21:00 29/09/2017

Buy at 5975.00
Take profit at 6000.00
Stop loss at 5965.00

 

[CSFX.Support]

Daily Report on October 02, 2017



Global shares advanced on Monday with U.S. stock benchmarks opening at all-time intraday highs. Investors shrugged off a mass shooting event in Las Vegas that is being described as the worst in U.S. history, boosting demand for risky assets such as stocks after all three U.S. equity benchmarks posted weekly, monthly and quarterly gains last Friday.

The S&P Index climbed more than 0.26 percent to hit a record intraday at 2,525.29, the Dow Jones Industrial Average soared 0.24 percent to trade at 22,451.22 - an all-time high level while the Nasdaq Composite Index also reached an intraday peak at 6,520.92, up 43 percent. European also traded higher with the Stoxx Europe 600 Index adding 0.2 percent to touch the highest in 14 weeks with its eighth consecutive advance.

Supported by a weaker euro, Germany’s DAX Index reached the highest in 15 weeks on its sixth consecutive advance after marching 0.2 percent higher. The single currency weakened in the wake of political turmoil in Spain where police beat people trying to vote in an independence referendum in Catalonia. The U.K.’s FTSE 100 Index gapped up and jumped 0.6 percent to the highest in a month on the back of a weak Sterling.

Crude oil futures tumbled on Monday after U.S. data showed a rise in domestic drilling while a Reuters survey indicated an increase in OPEC output last month. Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 6 to 750 last week, which marked the first increase in the last seven weeks. Meanwhile, a Reuters survey released on Friday showed the Organization of Petroleum Exporting Countries boosted output in September. The increase largely came from higher supplies from Iraq and Libya – an OPEC member exempt from cutting output.



Technicals

EURNZD


EURNZD has been under pressure exerted by a downward trading line that connects lower highs. The pair once again reversed lower after having hit this resistance and is moving lower towards a significant level at 23.6% Fibonacci retracement. While the RSI index is edging lower, the ADX index is experiencing a rise with a widening gap between the –DI and +DI lines, which indicates a strengthening bearish force in the market as well as signals further declines for the pair.

Trade suggestion

Sell Stop at 1.62800, Take profit at 1.61800, Stop loss at 1.63300



EURUSD



EURUSD continued to trade higher after having gapped down in early trade on Monday. The price action crossed over the short-term MA20 from above and is heading towards a firm support at 1.16900. The RSI index is pointing downwards while the ADX index is ticking higher, suggesting further declines for the currency pair.

Trade suggestion

Sell Stop at 1.17400, Take profit at 1.16900, Stop loss at 1.17600



CAC40



France’s CAC 40 index has been tracing a strong uptrend which has sent the pair to the highest level in about four months. With the support from both the short-term MA20 and the long-term MA50, the pair is expected to sustain its bullish momentum to trade higher. Both ADX and RSI index are on a steady rise, which signals further advances for the stock index.

Trade suggestion

Buy Stop at 5345.00, Take profit at 5370.00, Stop loss at 5335.00



COPPER



Copper’s prices once again had to retreat after having hit a firm resistance at 2.9900. This time, the price action has penetrated a couple of moving averages from above, which confirms a reversal into a downtrend. RSI index has slipped under the 50 level, showing an overwhelming bearish force in the market. A significant level at 38.2% Fibonacci retracement is anticipated to be tested.

Trade suggestion

Sell Stop at 2.9350, Take profit at 2.9050, Stop loss at 2.500



Natural Gas



Natural gas tumbled after having reversed lower from a significant level at 38.2% Fibonacci retracement. The commodity was also under pressure from a couple of moving averages. The commodity is expected to inch lower as the market has been dominated by sellers. Whereas the RSI index fell to as low as 30.17, ADX index is on a rise with the –DI and +DI lines moving in different directions. A support at 2.8700 is within the sight.

Trade suggestion

Sell Stop at 2.9100, Take profit at 2.8700, Stop loss at 2.9300



FTSE 100 Index


FTSE 100 index gapped up on Monday and successfully sustain its bullish momentum to reach the highest level since September 12nd. With support from two moving averages that are lingering below the price action, the stock benchmark index is expected to surge higher to test a resistance at 7460.00. Both ADX and RSI index are rising strongly, confirming the signal calling for further advances for the index.

Trade suggestion

Buy Stop at 7425.00, Take profit at 7460.00, Stop loss at 7410.00


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

Crude Oil Plunges After Increases in U.S. Drilling Rigs and OPEC Output

Crude oil futures tumbled on Monday after U.S. data showed a rise in domestic drilling while a Reuters survey indicated an increase in OPEC output last month.

Contracts of Brent crude for December delivery on the ICE Futures Exchange in London dropped 2.15 percent to trade at $55.59 per barrel – the lowest level since September 20th. Crude oil prices reversed lower after having notched a third-quarter gain of about 20 percent, which is the biggest third-quarter increase since 2004.

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 6 to 750 last week, which marked the first increase in the last seven weeks.

Meanwhile, a Reuters survey released on Friday showed the Organization of Petroleum Exporting Countries boosted output in September. The increase largely came from higher supplies from Iraq and Libya – an OPEC member exempt from cutting output.

Trade suggestion

Sell Stop at 55.590, Take profit at 54.990, Stop loss at 55.640



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

U.S. Equities Set New Record Highs After Manufacturing Index Soars To Peak Since 2004

U.S. stock markets jumped to fresh record highs on Monday as bullish sentiment for risky assets was supported by optimism over U.S. President Donald Trump’s tax reform plan as well as a strong manufacturing index that surged dramatically to its highest level since 2004.

The S&P 500 gained 0.26 percent to hit a record intraday at 2,525.29. Only two out of eleven major sectors of the index were trading in negative territory. Leading the overall performance, the Health Care sector soared by 0.67 percent, followed by Financials sector that gained 0.67 percent.

The Institute for Supply Management (ISM) on Monday reported that its index of U.S. factory activity surged to a reading of 60.8 in September from 58.8 in August. The figure did not only easily beat forecast calling for a decline to a reading of 57.9, but also marked the highest reading since May 2004.

Trade suggestion

Buy Stop at 2,527.00, Take profit at 2535.00, Stop loss at 2523.00



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

GBP/USD

From GMT 17:30 02/10/2017
Till GMT 21:00 02/10/2017

Sell at 1.32600
Take profit at 1.32000
Stop loss at 1.32900