Daily Market Updates & Trading Signals By Option Banque

[Option_Banque]

EURUSD Trade Idea by Option Banque

Weighed By Uncertainties In The Eurozone, Euro To Edge Lower For A Fourth Straight Session Versus Dollar

The Euro dropped versus its American counterpart on Tuesday amidst rising concerns over Concerns about a Greek bailout, early Italian elections and comments by the European Central Bank governor that reiterated the need for “substantial” stimulus.

The single currency, which was on course for dropping for a fourth straight session, fell 0.4 percent to trade at 1.1125 against the dollar on Tuesday – the lowest level since May 19th. The Euro was weighed down partly due to Greece’s financial situation concerning a deal on debt relief measures.

Greece’s finance minister on Monday said that the deal should be reached at the next meeting of euro zone finance ministers in June in order to help the country return to bond markets.

In Italia, former Prime Minister Matteo Renzi on Sunday stated that Italy’s next election should be held at the same time as Germany’s which is scheduled for September. The comments pulled the euro lower as it led to a selloff in Italian government debt on Monday.

Adding to downward pressure on the Euro, ECB President Mario Draghi repeated the need for “substantial” stimulus amid subdued inflation.

Later in the day, the Euro zone is scheduled to release data on German Prelim CPI while the U.S. is to report on personal income and expenditure along with data on consumer confidence for April, which are all predicted to advance compared to the previous month on a monthly basis.

Trade suggestion
Buy Digital Put Option from 1.11250 to 1.10800 valid until 21:00 GMT May 30, 2017

 

[Option_Banque]

GBP/USD signal by Option Banque
From 1.28600
Till 1.29000
Buy Option Digital
Direction Call
Expiry GMT 21:00 30/05/2017


AUD/USD signal by Option Banque
From 0.74700
Till 0.75100
Buy Option Digital
Direction Call
Expiry GMT 21:00 30/05/2017

 

[Option_Banque]

Daily Report on May 31, 2017 by Option Banque

Daily Report on May 31, 2017



Asian shares inched lower on Wednesday with the Shanghai Composite wiping out almost all of its earlier gains. China reported official manufacturing PMI for May that reached 51.2, steady with 51.2 in April and better than a median estimate of 51. The non-manufacturing PMI hit 54.5, up from a level last at 54.0 in April. The private manufacturing PMI from Caixin will be released on Thursday.

Reversing lower following two days of gains, Japan’s Topix fell 0.3 percent. The Hong Kong’s Hang Seng index and Hong Kong’s Hang Seng both shed 0.1 percent. By contrast, Australia’s S&P/ASX 200 index added 0.2 percent and South Korea’s Kospi index edged 0.1 percent higher.

Crude oil futures prices edged lower on Wednesday, falling for a third session in a row amidst concerns over rising output from Libya which came on the heels of increasing U.S. production. As stated by Libya's state-run National Oil Corporation, the country’s oil production is expected to rise to 800,000 barrels per day (bpd) this week and boost its exports as a result.

According to market sources, Libya has already shipped out an average of 500,000 bpd of crude oil so far this year, which is nearly as twice as 300,000 bpd shipped on average in 2016.

Later on Wednesday, the American Petroleum Institute (API) is scheduled to publish its estimates of U.S. crude and refined product inventories. Meanwhile, official data from the Energy Information Administration will be released on Thursday. Both come out one day later than usual due to a holiday on Monday.



Technicals

EURGBP



Fig: EURGBP H4 Technical Chart

EURGBP has received huge support from two MAs lingering below the price action. The uptrend is strengthening, as indicated by a widening gap between the +DI and –DI lines in the ADX chart and a soaring RSI index. The currency pair is likely to test the highest level since mid-March at 0.87850.

Trade suggestion

Buy Digital Cal Option from 0.87300 to 0.87850 valid until 21:00 GMT May 31, 2017



NZDUSD


Fig: NZDUSD H4 Technical Chart

NZDUSD rebounded higher after having fallen into a consolidation at nearly three-month highs at 0.71000. With upward support from the short-term MAs, the pair may attempt a resistance at 23.6% Fibonacci retracement. Rising ADX and RSI indices confirm the extended uptrend.

Trade suggestion

Buy Digital Call Option from 0.71000 to 0.71600 valid until 21:00 GMT May 31, 2017



WTI


Fig: WTI H1 Technical Chart

As can be seen from the price chart, WTI crude price has been under downward pressure from two MAs that are hanging above the price action. The commodity price is testing yesterday’s lowest level and may fall further to reach a significant support at 23.6% Fibonacci retracement.

Trade suggestion

Buy Digital Put Option from 49.10 to 48.50 valid until 21:00 GMT May 31, 2017



AUDNZD



Fig: AUDNZD H4 Technical Chart

AUDNZD has been tracing a sharp downtrend that sent the pair to retest nearly four-month lows at 1.04900. Under downward pressure from the short-term MA20, the pair may have to drop lower to test a support at 1.04200. RSI index has fallen to as low as 33.13, suggesting further declines.

Trade suggestion

Buy Digital Put Option from 1.04800 to 1.04200 valid until 21:00 GMT May 31, 2017

 

[Option_Banque]

Gold Trade Idea by Option Banque

Gold Advances On Weakening Dollar And Losses In Banking Shares

Gold futures prices rose on Wednesday after edging lower for two consecutive trading days. The precious metal gained on the back of weak U.S. dollar and stock markets that headed south.

August gold jumped nearly 0.4 percent to trade around $1267.00 per barrel.
U.S. stock-index gauges traded lower with all three major equity benchmark in the negative territories, weighed down by bank stocks. Banks equities, led by losses in shares of Goldman Sachs Group Inc., fell across the board after J.P.

Morgan Chase & Co.’s CFO claimed that trading is down about 15% in the second quarter. The financial sector lost 1.2 percent.

Meanwhile, the greenback weakened against its major rivals. The U.S. dollar index, which measures the currency against a half-dozen rivals, dropped 0.4 percent. A weak greenback makes gold, which is quoted in dollar, more affordable for buyers holding other currencies.

Trade suggestion
Buy Digital Call Option from 1268.00 to 1274.00 valid until 21:00 GMT May 31, 2017

 

[Option_Banque]

Crude Trade Idea by Option Banque

Mounting Output From Libya Weighs Down Crude Oil Futures

Crude oil futures prices edged lower on Wednesday, falling for a third session in a row amidst concerns over rising output from Libya which came on the heels of increasing U.S. production.

Brent crude futures lost more than 0.4 percent in Asian trading session compared to their last close to trade around $51.61 per barrel.

As stated by Libya’s state-run National Oil Corporation, the country’s oil production is expected to rise to 800,000 barrels per day (bpd) this week and boost its exports as a result. According to market sources, Libya has already shipped out an average of 500,000 bpd of crude oil so far this year, which is nearly as twice as 300,000 bpd shipped on average in 2016.

Libya’s mounting crude oil output, couple with soaring shale oil production in the U.S., undermined OPEC-led production cuts aimed at wiping out the current crude oil global glut.

Later on Wednesday, the American Petroleum Institute (API) is scheduled to publish its estimates of U.S. crude and refined product inventories. Meanwhile, official data from the Energy Information Administration will be released on Thursday. Both come out one day later than usual due to a holiday on Monday.

Market forecasts a crude oil inventory fall of 2.830 million barrels for the week ending May 26th.

Trade suggestion
Buy Digital Put Option from 51.60 to 51.00 valid until 21:00 GMT May 31, 2017

 

[Option_Banque]

EUR/AUD signal by Option Banque

From 1.50600
Till 1.51000

Buy Option Digital
Direction Call
Expiry GMT 21:00 31/05/2017

 

[Option_Banque]

Daily Report on June 02, 2017 by Option Banque

Asian share jumped to their best levels in more than two years on Friday after U.S. stock benchmark indices closed at all-time highs in Thursday session. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.6 percent, led by gains in equities of Japan and South Korea. Indeed, Japan’s Topix index rose 1 percent while the Nikkei 225 advanced by 1.2 percent.

By contrast, the Shanghai Composite declines for a second day, losing 0.1 percent.

Australia’s S&P/ASX 200 Index and South Korea’s Kospi index found them on a strong uptrend with each adding at least 0.8 percent. Up moves in global stocks and the U.S. dollar were boosted by larger-than-expected private American hiring data. The dollar held on gains after ADP reported private payrolls grew by 253,000 last month. The result comfortably beat analysts' median forecast of an 185,000 increase.

The nonfarm payrolls report is scheduled to come out on Friday, which is expected to show that the U.S. economy created 185,000 jobs last month.

Confidence in the world’s largest economy was bolstered further following the release of data on U.S. factory activity. The Institute for Supply Management reported its barometer for domestic manufacturing activity jumped to 54.9 last month from 54.8 in April. Economists had expected a rise to 52.8.

Crude oil prices weakened on Friday

WTI crude oil dropped 0.5 percent after adding 0.1 percent in the previous session. It’s on course to fall 3.4 percent this week. Oil prices dropped nearly 1 percent in early Asian trade on Friday, dragged down by ongoing concerns over a global glut in crude supply despite a bigger-than-expected draw in U.S. crude inventories.

Crude stockpiles were down to 6.4 million barrels in the week to May 26, beating analyst expectations for a decrease of 2.5 million barrels.

Although a sharp fall of U.S. crude inventories could be seen as a supportive factor to oil prices, U.S. crude production rose to 9.35 million bpd last week, up nearly 500,000 bpd from a year ago.



Technicals

EURJPY


EURJPY fell into a consolidation again after having surged to as high as 125.230. However, with rising ADX and RSI indices which indicate a dominating bullish force in the market, the pair is expected to edge higher to as high as a significant level 125.800.

Trade suggestion

Buy Digital Call Option from 125.300 to 125.800 valid until 21:00 GMT June 02, 2017



USDJPY


USDJPY extended its up moves following a short correction. The pair crossed over both short-term and long-term MAs from below, which suggesting a strong uptrend. The pair is likely to attempt a firm resistance at 38.2% Fibonacci retracement.

Trade suggestion

Buy Digital Call Option from 111.700 to 112.100 valid until 21:00 GMT June 02, 2017



WTI



U.S. crude price has officially fallen below the support at 23.6% Fibonacci retracement. As can be seen from the price chart, the commodity price has been under pressure from two MAs hanging above the price action, especially from the short-term MA20. Crude price looked set to trade lower with the market plunging in the bearish zone, as indicated by low RSI index.

Trade suggestion

Buy Digital Put Option from 48.00 to 47.00 valid until 21:00 GMT June 02, 2017



COFFEE


Coffee prices fell below a firm support at 128.40 again after peaking below this level on May 25th. With downward pressure exerted from two MAs lingering above the price action, coffee price may extend its down moves to as low as 124.70. Further downbeat steps were confirmed by declining RSI index and a widening gap between –DI and +DI lines.

Trade suggestion

Buy Digital Put Option from 127.30 to 124.70 valid until 21:00 GMT June 02, 2017

 

[Option_Banque]

Natural Gas Trade Idea by Option Banque

Natural Gas Futures Extend Downward Rally on Swelling U.S. Domestic Supplies

U.S. natural gas futures prices extended losses on Friday, heading for a decline for a fifth session in a row and on course for the biggest weekly drop since late-January.

Natural gas futures for July delivery were down nearly 0.6 percent in Asian trading hours on Friday, weighed down by data from the U.S. Energy Information Administration released on Thursday that showed domestic supplies rose more than expected.

According to the report, natural gas storage in the U.S. added 81 billion cubic feet for the week ended May 26, topping analysts’ expectation calling for a rise of 74 billion cubic feet. Total stocks now stand at 2.525 trillion cubic feet, 225 billion cubic feet above the five-year average.

Trade suggestion

Buy Digital Put Option from 3.020 to 2.950 valid until June 02, 2017

 

[Option_Banque]

AUD/NZD signal by Option Banque

From 1.04200
Till 1.03500

Option Digital
Direction Put
Expiry GMT 21:00 02/06/2017

 

[Option_Banque]

Daily Report on June 05, 2017 by Option Banque

Daily Report on June 05, 2017



Asian shares failed to resume their upbeat moves even after U.S. shares reached fresh record highs last Friday. Japan’s Topix index pared losses, falling 0.2 percent following a drop of 0.6 percent in early trade. Meanwhile, Hong Kong’s Hang Seng fell 0.1 percent and the Shanghai Composite Index slipped 0.3 percent. Australia’s S&P/ASX 200 Index also fell into negative zone, losing 0.6 percent. By contrast, South Korea’s Kospi index added 0.1 percent.

Gold futures advanced on Monday on the back of a weakening dollar that has been weighed down by a weaker-than-expected U.S. employment report. The geopolitical risks which pressurized Asian stocks also caused investors to flock into safe-haven assets such as gold.

Gold added 0.34 percent in Asian morning session to trade around $1281.10 per barrel as the dollar languished near a seven-month low on Monday. The dollar index was last trading flat at 96.716, under pressure from data on U.S. jobs growth for May that showed the world’s largest economy only added 138,000 jobs in the reported month. The result fell well below forecast for a rise of 185,000 jobs.

Meanwhile, attacks in London over the weekend added concerns over geopolitical risks in the U.K. ahead of the country’s general election that will be held on Thursday. Recent polls showed a tighter gap between the Conservatives, led by Prime Minister Theresa May, and the Labour Party, under left-winger Jeremy Corbyn.

IMF Deputy Managing Director Mitsuhiro Furusawa on Monday said that more aggressive interest rate hikes in the U.S. that may trigger a "significant" dollar rise and increase the debt burden of Asian emerging economies which own large dollar-denominated borrowings. China's rapid domestic credit growth is also another risk that cloud Asia's economic outlook, according to the official.



Technicals

AUDNZD



Fig: AUDNZD H1 Technical Chart

AUDNZD reversed higher from four-month lows at around 1.03970 and brought its price action above both long-term and short-term MAs, suggesting a reversal into an uptrend from a previous sharp downtrend. The pair is expected to test a resistance at 61.8% Fibonacci retracement with RSI surging as high as 63.10.

Trade suggestion

Buy Digital Call Option from 1.04700 to 1.05300 valid until 21:00 GMT+7 June 05, 2017



AUDCAD



Fig: AUDCAD H4 Technical Chart

AUDCAD crossed over both short-term and long-term MAs from above, confirming a strong uptrend and liberating the price action from downward pressure exerted by two MAs. In the event of continual uptrend, the pair is expected to attempt a resistance at 61.8% Fibonacci retracement.

Trade suggestion

Buy Digital Call Option from 1.00500 to 1.00900 valid until 21:00 GMT+7 June 05, 2017



SILVER



Fig: SILVER H4 Technical Chart

Silver has fallen into a consolidation after having surged to the highest level since April 26th. The correction pulled the ADX down below 20, suggesting no clear trend in the market. However, as can be seen from the RSI chart, the bull is dominating and may send the price higher to a resistance at 17.700.

Trade suggestion

Buy Digital Call Option from 17.560 to 17.700 valid until 21:00 GMT+7 June 05, 2017



Natural Gas



Fig: Natural Gas H4 Technical Chart

Natural gas gapped up on Monday but seems weak to maintain the bullish momentum. The commodity has just escaped from the oversold territory; however, the market has still been in the bearish zone with RSI index is at as low as 36.12. A support at 23.6% Fibonacci level is within the sight.

Trade suggestion

Buy Digital Put Option from 3.025 to 2.935 valid until 21:00 GMT+7 June 05, 2017

 

[Option_Banque]

Gold Trade Idea by Option Banque

Gold futures advanced on Monday on the back of a weakening dollar that has been weighed down by a weaker-than-expected U.S. employment report. The geopolitical risks which pressurized Asian stocks also caused investors to flock into safe-haven assets such as gold.

Gold added 0.34 percent in Asian morning session to trade around $1281.10 per barrel as the dollar languished near a seven-month low on Monday. The dollar index was last trading flat at 96.716, under pressure from data on U.S. jobs growth for May that showed the world’s largest economy only added 138,000 jobs in the reported month. The result fell well below forecast for a rise of 185,000 jobs.

Gold jumped to the highest level since April 21st as attacks in London over the weekend added concerns over geopolitical risks in the U.K. ahead of the country’s general election that will be held on Thursday. Recent polls showed a tighter gap between the Conservatives, led by Prime Minister Theresa May, and the Labour Party, under left-winger Jeremy Corbyn.

Trade suggestion

Buy Digital Call Option from 1282.00 to 1287.00 valid until 21:00 GMT+7 June 05, 2017

 

[Option_Banque]

GBP/AUD signal by Option Banque

From 1.72600
Till 1.72000

Option Digital
Direction Put
Expiry GMT 21:00 05/06/2017

 

[Option_Banque]

Daily Report on June 06, 2017 by Option Banque

Daily Report on June 06, 2017



Asian stocks retreated following a drop in U.S. equities overnight. At the close in NYSE, all three major U.S. stock benchmarks lost at least 0.1 percent on the back of downbeat economic data and a slump in Apple shares following a rare downgrade. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.2 percent in early trade, retreating from a two-year high hit on Monday.

Weighed down by a strong Yen which soared 0.5 percent versus its American counterpart, Japan’s Topix index fell 0.6 percent while Japan's Nikkei 225 dropped 0.4 percent. Australia’s S&P/ASX 200 Index dropped 0.8 percent. By contrast, Hong Kong’s Hang Seng Index rose 0.2 percent and the Shanghai Composite Index added 0.1 percent.

South Korea is closed for a holiday.

The Australian dollar weakened against most of peers ahead of the latest rate review from the Reserve Bank of Australia. The RBA is scheduled to release its latest interest rate decision later in the day with markets forecasting no changes to the central bank’s record low interest rate of 1.50%. Data on Australia’s current account will also be published. Analysts expect a surplus of A$100 million for the first quarter.

Crude oil prices extended their downward rally to a third day in a row on Tuesday, hit by concerns over a political tension between Qater and several Arab states. Accusing Qatar of supporting for Islamist militants and Iran, Saudi Arabia, Egypt, the United Arab Emirates and some other Arab countries cut ties with Qatar. The action may weaken an agreement to hold back production in an attempt to prop up prices.



Technicals

EURJPY



Fig: EURJPY H4 Technical Chart

EURJPY has been on a downtrend since it reversed lower from a significant resistance at 50.0% Fibonacci level. The sharp down moves brought the price action below two MAs, indicating a strong bearish momentum in the market. While the RSI index is heading lower, the ADX index is edging higher with a widening gap between the –DI and +DI lines, suggesting further downbeat moves.

Trade suggestion

Buy Digital Put Option from 123.700 to 123.000 valid until 21:00 GMT+7 June 06, 2017



GBPJPY


Fig: GBPJPY H4 Technical Chart

GBPJPY retreated after having failed to break out of a dynamic resistance that is the long-term MA50. The pair is on course to retest one-month lows reached on May 31th with a market dominated by the bear. The pair is expected to attempt a firm support at 23.6% Fibonacci level.

Trade suggestion

Buy Digital Put Option from 141.800 to 140.800 valid until 21:00 GMT+7 June 06, 2017



BRENT



Fig: BRENT H4 Technical Chart

Crude oil futures prices remained weak under downward pressure from two MAs hanging above the price action. The pair is testing a firm support at 49.22 which has restrained the pair from falling lower for the third time since Monday. With RSI remained low and edging-higher ADX, Brent crude price may inch lower to test another support at 48.30.

Trade suggestion

Buy Digital Put Option from 49.10 to 48.30 valid until 21:00 GMT+7 June 06, 2017



Natural Gas



Fig: Natural Gas H4 Technical Chart

Natural Gas has fallen below a significant support at 38.2% Fibonacci level and continued to head downwards. The commodity’s price action has been weighed down by the short-term MA20. The RSI index has dropped into an oversold zone, signaling a correction. The price may reverse at the support at 2.900.

Trade suggestion

Buy Digital Put Option from 2.960 to 2.900 valid until 21:00 GMT+7 June 06, 2017

 

[Option_Banque]

FTSE Trade Idea by Option Banque

U.K. shares edged lower for a second session in a row on Tuesday amidst rising concerns ahead of the U.K. general election on Thursday and a strengthening Pound.

U.K. stock benchmark – the FTSE 100 index dropped more than 0.2 percent following a loss of 0.3 percent on Monday. Recent down moves caused the index to retreat further from a fresh record high reached last Friday.

A poll released late Monday by Survation showed the gap between May’s Conservative Party and the opposition Labour tightened to 1 point ahead of Thursday’s election, down from 16 points a month ago.

Additionally, the testimony of former Federal Bureau of Investigation Director James Comey about alleged Russian interference in U.S. affairs also kept investors cautious and diminished the appeal of risky assets. The dollar weakened versus most of its peers ahead of the testimony, indirectly boosted the British Pound higher.

The pound added more than 0.15 percent to touch a high of 1.29495, up from $1.2903 late Monday

Trade suggestion

Buy Digital Put Option from 7500.00 to 7470.00 valid until 21:00 GMT+7 June 06, 2017

 

[Option_Banque]

AUDJPY Trade Idea by Option Banque

The Australian dollar reversed lower against the Japanese Yen on Tuesday ahead of the latest rate review from the Reserve Bank of Australia while Asian shares traded lower causing investors to flock into safe-haven assets.

The currency pair AUDJPY lost 0.75 percent in Asian morning session to trade around 82.050. The RBA is scheduled to release its latest interest rate decision later in the day with markets forecasting no changes to the central bank’s record low interest rate of 1.50%. Data on Australia’s current account will also be published. Analysts expect a surplus of A$100 million for the first quarter.

Meanwhile, Asian stocks retreated following a drop in U.S. equities overnight. At the close in NYSE, all three major U.S. stock benchmarks lost at least 0.1 percent on the back of downbeat economic data and a slump in Apple shares following a rare downgrade. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.2 percent in early trade, retreating from a two-year high hit on Monday.

Buy Digital Put Option from 82.000 to 81.500 valid until 21:00 GMT+7 June 06, 2017

 

[Option_Banque]

AUD/CAD signal by Option Banque

From 1.01200
Till 1.01600

Buy Option Digital
Direction Call
Expiry GMT 21:00 06/06/2017

 

[Option_Banque]

Daily Report on June 07, 2017 by Option Banque

Daily Report on June 07, 2017



Asian shares struggled to find direction on Wednesday after major U.S. stock indexes closed lower on Tuesday. While Japanese equities slid for a third straight day, Chinese stocks advanced. Indeed, Japan’s Topix index fell 0.1 percent while the Shanghai Composite increased 0.8 percent.

Hong Kong’s Hang Seng index also inched higher, added 0.1 percent and stayed around 26,000 reached on Tuesday – the highest level since July 2015. In contrast, Australia’s S&P/ASX 200 Index shed 0.2 percent, falling to the lowest level since February. South Korea’s Kospi index also lost ground.

The Australian dollar traded higher in early Asia on Wednesday after first-quarter growth figures came out better-than-expected. The currency pair AUDUSD added more than 0.4 percent to trade around 0.75400 – the highest level since May 03rd. The pair also extended its upward rally to a fourth day in a row after the Aussie was boosted higher by upbeat economic data.

According to the Australian Bureau of Statistics, the country’s Gross Domestic Product (GDP) advanced by 0.3 percent in the three-month period to March in seasonally adjusted chain volume terms. Although the result was well below the 1.1% increase recorded in the first three months of the year, it beat analysts’ expectation calling for a rise of 0.2 percent.

The dollar plunged to seven-month lows overnight as investors flocked into safe-haven assets ahead of a trio of risk events in the next 48 hours. On Thursday, the European Central Bank’s policy meeting, Britain’s general election and former FBI chief James Comey’s testimony before the Senate Intelligence Committee will draw market attention and drive market sentiment.



Technicals

CADJPY



CADJPT reversed lower after a correction following a sharp downtrend that sent the price to more-than-three-week lows yesterday. Two MAs hanging above the price action have been still putting downward pressure on the price, on course to weigh down the pair further to test a support at 80.650. RSI index edged lower to as low as 32.80, indicating a dominating bearish force in the market.

Trade suggestion

Buy Digital Put Option from 83.300 to 80.650 valid until 20:00 GMT June 07, 2017



GBPJPY


GBPJPY pared earlier gains to trade lower, extending the downtrend after its price action broken below the long-term DMA50. RSI continued to edge lower while ADX index marched higher, which indicates a strengthening bearish force. In the event of further declines, the pair is expected to test a support at 140.100.

Trade suggestion

Buy Digital Put Option from 141.100 to 140.100 valid until 20:00 GMT June 07, 2017





BRENT


Brent crude futures prices crossed over the short-term MA20 yesterday but the bull appeared to not be strong enough to maintain its momentum. The price action is facing the MA20 again and may drop below this level. RSI retreated from the central line, indicating a strengthening bearish force in the market. A support at 48.45 is within the sight.

Trade suggestion

Buy Digital Put Option from 49.65 to 48.45 valid until 20:00 GMT June 07, 2017



COFFEE


Coffee future prices have been trapped in a slopping downtrend trading range since late-January. Yesterday, the commodity price reversed lower to retest one-year lows at 125.25 reached on June 02. Under the downward pressure exerted by the short-term MA20, the coffee price is expected to trade lower. Soaring RSI and ADX indices with a widening gap between –DI and +DI lines suggest further declines.

Trade suggestion

Buy Digital Put Option from 125.00 to 125.00 valid until 20:00 GMT June 07, 2017



CAC 40


France’s CAC 40 index extended its slide to a fourth session in a row on Wednesday and looked set to trade lower in an attempt to test a firm support at 5230.00. The stock benchmark index had to rebound after hitting this level twice since late April. RSI remained at low level while ADX index is inching higher, suggesting more declines.

Trade suggestion

Buy Digital Put Option from 5260.00 to 5230.00 valid until 20:00 GMT June 07, 2017



DAX


Germany’s DAX 30 index is facing a dynamic support at the long-term MA50 after having crossed over the short-term MA20. Recent steeply down moves have brought the market into the bearish zone, as indicated by RSI index which fell below 50. The previous uptrend weakened with ADX index dropping to as low as 34.27. A support at 12530.00 is expected to be tested.

Trade suggestion

Buy Digital Put Option from 12650.00 to 12530.00 valid until 20:00 GMT June 07, 2017

 

[Option_Banque]

USDCAD trade idea by Option Banque

Canadian Dollar Loses Ground Against the Greenback As Oil Slumps

Canadian dollar dropped steeply versus its American counterpart in U.S. trading session on Wednesday following a weekly report that showed a large rise in U.S. inventories of the commodity.

The currency pair USDCAD soared nearly 5 percent to trade around 1.35200 after data from the U.S. Energy Information Administration indicated that domestic crude supplies soared 3.3 million barrels last week.

The unexpected rise in U.S. crude oil stockpiles in the week ended June 2nd marked the first advance in the last nine weeks and contrasted with analysts’ forecast calling for a drop of 3.1 million barrels. The sharp rise raised concerns over U.S. domestic crude production that may surge to a record level next year, contributing to losses for oil.

As oil exports comprise a big part of Canadian economy, the Loonie tend to drop when oil prices edge lower.

Trade suggestion

Buy Digital Call Option from 1.35200 to 1.35600 valid until 20:00 GMT June 08, 2017

 

[Option_Banque]

AUDUSD Market Outlook by Option Banque

Australian Dollar Jumps To One-Month Highs Following Upbeat GDP Data

The Australian dollar traded higher against its American counterpart in early Asia on Wednesday after first-quarter growth figures came out better-than-expected. Meanwhile, the greenback remained weak ahead of a big day on Thursday when the calendar features both highly-awaited political and economic events.

The currency pair AUDUSD added more than 0.4 percent in Asian morning session on Wednesday to trade around 0.75400 – the highest level since May 03rd. The pair also extended its upward rally to a fourth day in a row after the Aussie was boosted higher by upbeat economic data.

According to the Australian Bureau of Statistics, the country’s Gross Domestic Product (GDP) advanced by 0.3 percent in the three-month period to March in seasonally adjusted chain volume terms.

The growth rate in March quarter marked a sharply decline compared to the previous quarter, sending the annual pace of growth to the lowest level since late 2009. Indeed, year-on-year increase slowed to 1.7 percent – the weakest expansion rate since the third quarter of 2009.

Although the result was well below the 1.1% increase recorded in the first three months of the year, it beat analysts’ expectation calling for a rise of 0.2 percent.

Meanwhile, the dollar plunged to seven-month lows overnight as investors flocked into safe-haven assets ahead of a trio of risk events in the next 48 hours. On Thursday, the European Central Bank’s policy meeting, Britain’s general election and former FBI chief James Comey’s testimony before the Senate Intelligence Committee will draw market attention and drive market sentiment.

Comey’s testimony is expected to keep the U.S. dollar under pressure as the fired FBI director will testify about Russia’s alleged involvement in the U.S election as well as U.S. President Donald Trump’s alleged attempt to halt an investigation into former national security advisor Michael Flynn.

As can be seen from the price chart, the pair is testing a firm resistance at 0.75400 – the level it had to give up its up moves and reverse lower five weeks ago. After having breached a significant level at 38.2% Fibonacci level on Monday, the price action continue to cross over both the long-term and short-term MAs from below, suggesting a strong bullish momentum in the market. RSI and ADX indices are rising higher, signalling further advances. A resistance at 23.6% Fibonacci level is within the sight.

Trade suggestion

Buy Digital Call Option from 0.75400 to 0.75900 valid until 20:00 GMT June 07, 2017

 

[Option_Banque]

EUR/JPY signal by Capital Street FX

From 123.300
Till 122.600

Option Digital
Direction Put
Expiry GMT 21:00 07/06/2017