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  1. #1
    CapitalStreetFX is offline Senior Member
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    Thumbs up Daily Technical Analysis by Capital Street FX



    Daily Report on September 05, 2016

    Asian stocks took their cue from the rally in U.S shares on Friday, after weaker-than-expected U.S. jobs reduced the chances of the Federal Reserve raising interest rates this month. MSCI's broadest index of Asia-Pacific shares outside Japan added 1.3% in early trade. Japan's Nikkei stock index surged 1 percent to three-month highs while Hong Kong’s Hang Seng Index climbed to its highest in a year.

    The Caixin survey published by Markit on Monday reported that China’s services purchasing managers' index (PMI) picked up to 52.1 in August on a seasonally adjusted basis, from 51.7 in July. Growth in the service sector was powered by modest gains in new orders and a stable labor market. Despite being in line with expectations, the rate of expansion remained well below the average and was considered as “relatively underwhelming".

    Speaking at the Kyodo News event, in Tokyo on Monday, Bank of Japan Governor Haruhiko Kuroda stated that “there is ample room for further monetary easing ... and other new ideas should not be off the table,". Further cuts in interest rates and increased purchases of assets are expected to be made full use of by the BOJ to achieve the policy mandate of bringing inflation closer towards the target of 2%, at the earliest possible.

    Crude prices continued to slump in the Asian trading session as concerns over a supply glut are mounting after news from a Yemeni industry official said the country’s 150,000 barrels-per-day Aden oil refinery resumed operations on Sunday. The refinery had previously been shut down for more than a year as the conflict in the country worsened.

    With the US Markets closed in observance of the Labour Day holiday in the US, the markets are expected to be relatively quiet and thin today.



    Technicals

    EURUSD
    EURUSD seemingly could not stand the heat of the 50-period moving average and has been moving lower after coming up against this moving resistance. The short-term MA has just crossed over the long-term MA from above, signaling a reversal into a downtrend. In the stochastic chart, the %K line has pulled back from the overbought area and is about to cross the %D line from above.

    Trade suggestion

    Sell Stop at 1.11685, Take profit at 1.11300, Stop loss at 1.11920



    NZDUSD
    NZDUSD is on course to retest the major resistance at 0.73420 after peeking through this level on Friday. The pair could not retain the bullish momentum to surge above this handle and pulled back to hit the support at 0.72639. Having been supported by the two moving averages placed below the price action, the New Zealand dollar has been pushing to get into rally mode. Nevertheless, the price is expected to give up the gains once more, and retreat from the resistance.

    Trade suggestion

    Sell Limit at 0.73420, Take profit at 0.72940, Stop loss at 0.73600



    AUDNZD
    AUDNZD resumed its slide after some corrective moves from the one-month low at 1.03140. The pair fell back from the resistance at 1.03950 – the level that forced the price to reverse lower on Thursday. The market has remained in a bearish setup for almost a month and is expected to extend the downtrend as the RSI index is still pointing downwards, and is still below the 50 line.

    Trade suggestion

    Sell Stop at 1.03530, Take profit at 1.03140, Stop loss at 1.03950



    SILVER
    Silver has been skidding since the market open on Monday following a sharp surge that boosted the grey metal to surpass the 23.6% retracement at 19.369. Ongoing losses are a result of a correction that may last sometime, as can be seen from the indicators. The market has entered the overbought zone. With the MA20 crossing the MA50 from below, Silver could reattempt a surge after a test of the support at 19.200

    Trade suggestion

    Buy Limit at 19.200, Take profit at 19.430, Stop loss at 19.040



    BRENT
    Brent crude descended from the 23.6% Fibonacci retracement level, after the price came up against two solid hurdles at the same time. Coupled with the resistance at the 23.6% level, the MA20 is another zone of resistance that restrained the price action and sent the market back down. The bear is overwhelming in the market currrently, which is further consolidated by two MAs placed above the price action.

    Trade suggestion

    Sell Stop at 46.40, Take profit at 45.50, Stop loss at 47.00



    FTSE
    FTSE100 index victoriously broke out of the descending price channel on Friday, and is comfortably trading around two-week highs at 6899.90. While the RSI index is moving near the overbought zone, the short-term MA is much likely to penetrate the long-term MA from below. The index is anticipated to advance higher towards the record high at 6959.21, with both MA's now placed below the price action.

    Trade suggestion

    Buy Stop at 6900.00, Take profit at 6959.21, Stop loss at 6865.00
    Last edited by CapitalStreetFX; 09-05-2016 at 12:35 PM.
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  2. #2
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    Natural Gas Weighed Down By Stocks – Is This A Good Time To Pick A Bottom?

    Natural gas prices have been in a down-move since last Tuesday and are currently suffering a fourth session of losses in the last five trading days. August witnessed prices dropping by more than 3%, and the market opened September with large losses on Thursday after data from the U.S. Energy Information Administration showed a larger-than-expected storage addition during the week through August 26th. However, the natural gas market’s surplus is expected to be nearing its end, as cheap prices are discouraging production but stoking consumption.

    Reports from the U.S EIA showed that natural gas stockpiles rose by 51 billion cubic feet (bcf) for the week ended August 26. The figure was far beyond expectations of a 43 bcf increase, taking total stocks to 3.401 trillion cubic feet, up 238 bcf from a year ago and 334 bcf above the five-year average.

    High temperatures have been the main driver for the rally in natural gas this summer. Consistently intense heat powered consumption of air conditioning, and raised demand for electricity. Although weather forecasts are still reporting hotter-than-normal weather across the eastern half of the country for the next two weeks, September has stepped in with less extreme heat and cooled down the usage of air conditioners.

    Additionally, according to market sources, wind-power generation also increased enough during the week ended August 26th to have caused a reduction in power plants’ gas consumption by 1.6 bcf a day. These two factors could have helped cause the larger-than-expected storage number.

    Nonetheless, the current surplus could be erased in upcoming months as onshore natural-gas production has been falling in June for the fourth consecutive month. According to Bakes Hughes, the number of rotary rigs drilling for gas in North America hit an all-time low at 81 last week.

    Along with the reduction in drilling rigs, the cheapness of gas has nudged U.S power producers to replace coal with natural gas. Last year, the U.S electricity sector used 1.4 times as much coal by energy value as compared to natural gas. This is a huge contraction compared to a ratio of 4.5 times 20 years ago. The EIA had forecast in March that gas use would overtake coal for the first time ever, in 2016.

    As financial markets in Canada and the U.S. are shut on Monday for the Labour Day holiday, the natural gas market is expected to be relatively quiet and thin today.



    Fig: Natural Gas H4 Technical chart

    Natural gas prices created a wide gap down on the market open and also broke below the ascending trend line which connects the higher lows for the period August 2nd to September 2nd. Lower lows being formed by the recent price action (over the last 1 week) and lower lows being created in the indicator window suggest that the bear is getting stronger. The 20-period MA has converged with the 50-period MA, signaling further declines.

    Trade suggestion

    Sell Stop at 2.750, Take profit at 2.730, Stop loss at 2.765
    Last edited by CapitalStreetFX; 09-05-2016 at 12:34 PM.
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  3. #3
    CapitalStreetFX is offline Senior Member
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    AUDCAD Trading Signal for September 05, 2016 #CapitalStreetFX #TradingSignal

    From GMT 15:00 05/09/2016
    Till GMT 21:00 05/09/2016

    Buy at 0.98100
    Take profit at 0.98235
    Stop loss at 0.98000
    Last edited by CapitalStreetFX; 09-05-2016 at 12:35 PM.
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  4. #4
    CapitalStreetFX is offline Senior Member
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    Thumbs up Oil Trade Idea by Capital Street FX



    Oil Pares Early Gains As Magnified Speculation Dissipates

    The crude oil market was in a state of overblown volatility in thin liquidity on Monday, amidst rising speculation that the world’s two largest oil producers would agree on an output cap deal at the G-20 summit in China, after Reuters had reported that Saudi Arabia’s Energy Minister Khalid al-Falih was set to make a “significant announcement” at a news conference at the summit being held in Hangzhou.

    Nonetheless, the outcome of Al-Falih’s speech disappointed markets as what was delivered failed to meet market expectations. According to reports, Al-Falih and his Russian counterpart Alexander Novak will set up a working group to monitor the oil market and come up with recommendations to promote market stability. Besides the meeting in Algeria in late September, the two leaders will also meet in Vienna in November to discuss how to cooperate under the new agreement.

    Oil prices immediately trimmed sharp gains made earlier, falling off from the nearly one week high at 46.51 per barrel to as low as 44.74 per barrel after the statement.

    Trade suggestion

    Sell Stop at 44.90, Take profit at 44.50, Stop loss at 45.20
    Last edited by CapitalStreetFX; 09-05-2016 at 12:36 PM.
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  5. #5
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    Daily Report on September 06, 2016



    Crude prices held onto most of their gains from yesterday in the Asian trading session on Tuesday, as top producers Russia and Saudi Arabia, despite failing to announce concrete steps to limit output, agreed to cooperate on stabilizing the oil market. Russian Energy Minister Alexander Novak and his Saudi counterpart have moved toward a strategic energy partnership after a meeting at the G-20 summit in China.

    Saudi energy minister Khalid al-Falih stated that he was optimistic about cooperation with other producers ahead of a meeting this month in Algiers, adding that freezing production was not the only solution to a supply glut. The oil price advance led energy stocks higher, which in turn supported Asian shares edge up on Tuesday.

    A report by the British Retail Consortium (BRC) and KPMG published overnight showed that UK retail sales decreased 0.9pc in August compared to the same month last year on a like-for-like basis. The weakest performance since September 2014 was attributed to the warm weather that retrained clothing sales, and the Olympics that distracted shoppers by keeping them indoors.

    Having already pulled the trigger on policy easing in May and August, the Reserve Bank of Australia (RBA) held its interest rate unchanged as expected at Tuesday's meeting. The central bank stated that it will let the stimulus measures already introduced, to percolate through the economy before deciding if yet more stimulus is needed.



    Technicals

    EURAUD



    Fig: EURAUD H4 Technical Chart

    EURAUD has fallen off the 23.6% retracement level at 1.46967 and continues to head downwards with the pressure from the two MAs placed above the price action. The MA20 has crossed over the MA50 from above, not to mention that the ADX index has soared higher. The pair is anticipated to dip lower to test the support at 1.45450.

    Trade suggestion

    Sell Stop at 1.46015, take profit at 1.45450, stop loss at 1.46615



    USDCAD



    Fig: USDCAD H4 Technical Chart

    USDCAD has been on a decline since it reversed from a nearly one-month high at 1.31471 reached on Friday. The short-term MA has penetrated the long-term MA from above, signaling further slump in the market. Additionally, since the ADX has surged higher to 53.19, with a big divergence between the +DI and –DI line, the bears are expected to gain momentum and push the pair lower. However, the USDCAD is up against a strong support zone, which is an ascending trendline formed during the period from August 18 to date. To extend the down move, USDCAD needs to make a breakout through this support first.

    Trade suggestion

    Sell Stop at 1.29000, take profit at 1.28570, stop loss at 1.29500



    USDCHF



    Fig: USDCHF H4 Technical Chart

    USDCHF has been moving sideways around the key 0.98000 level for the last three trading days. The pair initially breached the upper boundary of the ascending trading channel and broke out of it. But has now fallen back into the trading channel. The market has been locked under the MA20 for a while but has not been able to cross below the MA50. As the %K line is pointing down and the RSI has dipped below 50, the pair is forecast to fall further to the support at 0.97500.

    Trade suggestion

    Sell Stop at 0.97880, take profit at 0.97500, stop loss at 0.98200



    GOLD



    Fig: GOLD H4 Technical Chart

    Gold has been on a rise since the beginning of September but the rally is being held back within the descending channel. While the bull is overwhelming in the market and the upcoming convergence of the two MAs placed below the price action looks likely, a breakout though the channel resistance is anticipated. However, in case the precious metal can breach this handle, the major resistance at 1330.00 will be another solid stance for gold to get through.

    Trade suggestion

    Buy Stop at 1328.50, take profit at 1333.20, stop loss at 1325.00



    BRENT



    Fig: Brent H1 Technical Chart

    Brent witnessed a spike yesterday which took the commodity beyond the 23.6% retracement level to retest a nearly one-week high at 49.37. Brent pared most of its gains afterwards but failed to break below the MA20 and is currently trading above this support. The ongoing up-wave has created a bullish impulse in the market, with other indicators currently supporting the up move.

    Trade suggestion

    Buy Stop at 47.80, take profit at 48.45, stop loss at 47.40



    DAX



    Fig: DAX H4 Technical Chart

    Germany's DAX30 index has been moving in an ascending triangle pattern. Higher lows have been continuously created but the index has been restrained from forming new highs due to the resistance at 10740.00. DAX seems to be trading with a sideways to downwards bias currently. However, any down move is expected to subside and the market may bounce back once it hits the MA20 and may go on to retest the 10740.00 resistance level.

    Trade suggestion

    Buy Limit at 10636.00, take profit at 10740.00, stop loss at 10600.00
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  6. #6
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    Daily Report on September 06, 2016



    Crude prices held onto most of their gains from yesterday in the Asian trading session on Tuesday, as top producers Russia and Saudi Arabia, despite failing to announce concrete steps to limit output, agreed to cooperate on stabilizing the oil market. Russian Energy Minister Alexander Novak and his Saudi counterpart have moved toward a strategic energy partnership after a meeting at the G-20 summit in China.

    Saudi energy minister Khalid al-Falih stated that he was optimistic about cooperation with other producers ahead of a meeting this month in Algiers, adding that freezing production was not the only solution to a supply glut. The oil price advance led energy stocks higher, which in turn supported Asian shares edge up on Tuesday.

    A report by the British Retail Consortium (BRC) and KPMG published overnight showed that UK retail sales decreased 0.9pc in August compared to the same month last year on a like-for-like basis. The weakest performance since September 2014 was attributed to the warm weather that retrained clothing sales, and the Olympics that distracted shoppers by keeping them indoors.

    Having already pulled the trigger on policy easing in May and August, the Reserve Bank of Australia (RBA) held its interest rate unchanged as expected at Tuesday's meeting. The central bank stated that it will let the stimulus measures already introduced, to percolate through the economy before deciding if yet more stimulus is needed.



    Technicals

    EURAUD



    Fig: EURAUD H4 Technical Chart

    EURAUD has fallen off the 23.6% retracement level at 1.46967 and continues to head downwards with the pressure from the two MAs placed above the price action. The MA20 has crossed over the MA50 from above, not to mention that the ADX index has soared higher. The pair is anticipated to dip lower to test the support at 1.45450.

    Trade suggestion

    Sell Stop at 1.46015, take profit at 1.45450, stop loss at 1.46615



    USDCAD



    Fig: USDCAD H4 Technical Chart

    USDCAD has been on a decline since it reversed from a nearly one-month high at 1.31471 reached on Friday. The short-term MA has penetrated the long-term MA from above, signaling further slump in the market. Additionally, since the ADX has surged higher to 53.19, with a big divergence between the +DI and –DI line, the bears are expected to gain momentum and push the pair lower. However, the USDCAD is up against a strong support zone, which is an ascending trendline formed during the period from August 18 to date. To extend the down move, USDCAD needs to make a breakout through this support first.

    Trade suggestion

    Sell Stop at 1.29000, take profit at 1.28570, stop loss at 1.29500



    USDCHF



    Fig: USDCHF H4 Technical Chart

    USDCHF has been moving sideways around the key 0.98000 level for the last three trading days. The pair initially breached the upper boundary of the ascending trading channel and broke out of it. But has now fallen back into the trading channel. The market has been locked under the MA20 for a while but has not been able to cross below the MA50. As the %K line is pointing down and the RSI has dipped below 50, the pair is forecast to fall further to the support at 0.97500.

    Trade suggestion

    Sell Stop at 0.97880, take profit at 0.97500, stop loss at 0.98200



    GOLD



    Fig: GOLD H4 Technical Chart

    Gold has been on a rise since the beginning of September but the rally is being held back within the descending channel. While the bull is overwhelming in the market and the upcoming convergence of the two MAs placed below the price action looks likely, a breakout though the channel resistance is anticipated. However, in case the precious metal can breach this handle, the major resistance at 1330.00 will be another solid stance for gold to get through.

    Trade suggestion

    Buy Stop at 1328.50, take profit at 1333.20, stop loss at 1325.00



    BRENT



    Fig: Brent H1 Technical Chart

    Brent witnessed a spike yesterday which took the commodity beyond the 23.6% retracement level to retest a nearly one-week high at 49.37. Brent pared most of its gains afterwards but failed to break below the MA20 and is currently trading above this support. The ongoing up-wave has created a bullish impulse in the market, with other indicators currently supporting the up move.

    Trade suggestion

    Buy Stop at 47.80, take profit at 48.45, stop loss at 47.40



    DAX



    Fig: DAX H4 Technical Chart

    Germany's DAX30 index has been moving in an ascending triangle pattern. Higher lows have been continuously created but the index has been restrained from forming new highs due to the resistance at 10740.00. DAX seems to be trading with a sideways to downwards bias currently. However, any down move is expected to subside and the market may bounce back once it hits the MA20 and may go on to retest the 10740.00 resistance level.

    Trade suggestion

    Buy Limit at 10636.00, take profit at 10740.00, stop loss at 10600.00
    Become A Part Of Capital Street FX and benefit from the best offerings in the industry including*****HUGE TRADEABLE BONUSES***** RISK FREE TRADES***** CASH BACKS*****TIGHT TRADING CONDITIONS*****. Benefit from*****0 PIPS SPREADS*****200% BONUS*****1:1000 LEVERAGE***** 10% STOP OUT*****100% RISK FREE TRADES***** Join our IB program and earn upto 75% CPA commission and upto $20 per lot. Get in touch with us today and start withdrawing profit.

  7. #7
    CapitalStreetFX is offline Senior Member
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    EUR/CHF signal by Capital Street FX


    From GMT 10:15 06/09/2016
    Till GMT 21:00 06/09/2016

    Buy at 1.09315
    Take profit at 1.09450
    Stop loss at 1.09200
    Become A Part Of Capital Street FX and benefit from the best offerings in the industry including*****HUGE TRADEABLE BONUSES***** RISK FREE TRADES***** CASH BACKS*****TIGHT TRADING CONDITIONS*****. Benefit from*****0 PIPS SPREADS*****200% BONUS*****1:1000 LEVERAGE***** 10% STOP OUT*****100% RISK FREE TRADES***** Join our IB program and earn upto 75% CPA commission and upto $20 per lot. Get in touch with us today and start withdrawing profit.

  8. #8
    CapitalStreetFX is offline Senior Member
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    Go Longs on Gold as Fed May Need To Stand Pat on Rates This September

    Gold retested over one-week high at 1342.11 after a couple of data released on Tuesday that were not only far beyond earlier expectations but also completely dislodged any thought of a U.S economy that is “healthy enough” to withstand a rate hike as soon as later this month.

    Report from the Institute for Supply Management showed that America’s service industries expanded in August at the weakest pace in six years. The ISM non-manufacturing index nose-dived to the lowest since February 2010 to 51.4, from 55.5 in July, while economists forecast the figure to come out at 55.4.

    In a separate report, the Federal Reserve’s labor-market conditions index also swung back into negative territory last month after a positive reading in July, marking the seventh negative reading in the past eight months. The Fed’s gauge, which combines 19 labor market indicators, fell to minus 0.7 in August from 1.3 in one month earlier.

    Trade suggestion

    Buy Stop at 1340.50, Stop loss at 1333.00, Take profit at 1345.90
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  9. #9
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    Default Copper Market Outlook by Capital Street FX

    Copper Picks Up On Signs of Rising Demand – Traders Advised To Be Cautious As Market May Not Easily Re-Balance

    Copper opened Tuesday’s trading session with a small gap down but quickly covered the gap to extend bullish momentum to a second consecutive trading day despite swelling inventories, as demand is showing signs of pick-up while cross currents in supply reduced pressure cast by worries over a market surplus.

    Inventories tracked by the London Metal Exchange rose by 10,025 tons to 328,525 tons, causing stocks of copper held at LME approved warehouses to rise by more than 60 percent since Aug. 11. However, stocks held by the Shanghai Futures Exchange fell to 152,404 tons as of September 2, down eight percent compared to the previous week.

    The decline in SHFE may be the result of a marginal rise in demand in Europe and Asia after the summer vacation has ended. “Feedback from fabricators onshore points to a pick-up in orders from the construction sector in recent weeks”, said Standard Chartered.

    Elsewhere, striking workers at Codelco’s small Salvador mine (producing 49,000 tons per year) and Anglo American’s Los Bronces mine (producing 437,800 tons per year) following failed wage negotiations in Chile – the world’s top copper producing nation – could cause production to fall further in the coming months.

    Meanwhile, also on the supply side, Vedanta – India’s second largest copper producer with current output of 400,000 tons a year – is harboring the ambition to dethrone its rival Hindalco (500,000 tons) from first place in terms of output. Vedanta is reported to be restarting a cooper mine on Tasmania’s west coast in 2017, three years after the mine’s operations were suspended due to the death of two workers in 2014 and another in 2013. The mine is estimated to possess 200 million tons of reserves with an annual output of 100,000 tons

    Previously, CEO of Vedanta’s Copper business R Ramnath stated that the conglomerate is planning to invest up to Rs. 3,000 crore ($450 million) in its Indian copper operations to double the capacity to 800,000 tons by 2019, making the firm India’s largest producer of the metal.

    In a recent meeting with the government, India’s top copper producers — Hindalco, Vedanta and Hindustan Copper — have demanded that import duty on finished copper products be raised to 7.5% from 5% now as the country’s imports are growing at an alarming rate of over 20% for the last five years. These domestic producers are afraid that copper from Asean countries and Japan which is benefitting from export incentives could take over their market share that is about 80% at around 1 million tons a year in total.



    Fig: COPPER D1 technical chart

    Copper has been trading sideways in a thin range between 2.0900 and 2.0695 for nearly two weeks, after stabilizing post the sharp down move between mid/late July and August 24. The metal continues to remain in the downward sloping trading channel. Bears currently seem exhausted after having continuously pushed prices lower and held the market near oversold zone. Some bullish interest has come back into the market at the lows, but bulls are facing strong resistance at 2.0900. Bears are expected to get back into the market, after a period of short-covering inspired bounce-backs, and may push copper prices back down again.

    Trade suggestion

    Sell Stop at 2.0900, take profit at 2.0680, Stop loss at 2.1140
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  10. #10
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    Daily Report on September 07, 2016



    Asian shares rose to one-year highs on Wednesday, carrying forward the bullish momentum from the US equity markets after Wall Street had finished yesterday’s session in the green. A spate of weaker-than-anticipated data released on Tuesday has nudged investors to bet against any U.S rate hike this month and created some doubts over an interest rate increase by the end of 2016.

    The Federal Reserve was handed some reasons to delay increasing rates after the Institute for Supply Management published its non-manufacturing PMI for August. The August PMI fell to 51.4. The result was far short of expectations, marking the largest one-month drop since November 2008 and the lowest PMI reading since February 2010. The Fed’s labor-market conditions index also swung back into negative territory last month after a positive reading in July, slipping to -0.7 from 1.3 one month earlier.

    In response, the U.S dollar fell sharply against most of its peers. The Japanese Yen strengthened on the back of a softening greenback and was also bolstered further by a reported split between Bank of Japan officials ahead of the BOJ meeting on September 20-21. According to a report in the Sankei newspaper, BOJ policymakers are currently divided into three groups. One supports negative interest rates, another advocates more government bond purchases, while the third group opposes further stimulus.

    The Australian dollar edged down 0.1 percent to $0.7681 after rising more than 1 percent on Tuesday after the Reserve Bank of Australia held interest rates steady at 1.5 percent. The Australian Bureau of Statistics reported the country’s gross domestic product (GDP) for the second quarter decelerated to 0.5%, indicating a cooling off in growth compared to the January-March period.



    Technicals

    GBPUSD



    Fig: GBPUSD H4 Technical Chart

    GBPUSD broke above the ascending trading channel that has formed since early August, after a steep up move from the key support level at 1.33000. The market has pulled back for some consolidation after bulls pushed the prices into overbought territory. However the upper boundary of the trading recent trading channel is now acting as support after the breakout from the channel, and has kept the market from falling back into the price range. This support zone is expected to push the price higher from the current levels

    Trade suggestion

    Buy Stop at 1.34400, Take profit at 1.34800, Stop loss at 1.34000.



    EURCHF



    Fig: EURCHF H4 Technical Chart

    EURCHF has breached below the 50.0% retracement at 1.09090 after decisively dropping from the 61.8% level at 1.09774. A brief correction was seen yesterday but weak bulls failed to retain the bullish momentum and had to reverse lower after coming up against the short-term MA. The MA20 has just converged with the MA50 from above, signaling more declines for the pair.

    Trade suggestion

    Sell Stop at 1.09000, Take profit at 1.08800, Stop loss at 1.09230



    USDJPY



    Fig: USDJPY H4 Technical Chart

    USDJPY has been on a precipitous down move which helped the pair easily move past both the long-term and short-term MAs. In general, the U.S dollar has been trading in a shrinking range against the JPY and is currently moving towards the lower boundary of the trading range. As the market has entered the oversold zone, we may witness a period of consolidation moves. More declines in USDJPY are expected since two MAs placed above the price action are casting downward pressure on the price.

    Trade suggestion

    Sell Stop at 101.300, Take profit at 100.850, Stop loss at 101.700



    SILVER



    Fig: SILVER H4 Technical Chart

    Having surged more than 9.5 percent from two-month lows at 18.371 created on August 29, the grey metal retreated after the market entered a state of overblown volatility. Nonetheless, silver is forecast to extend the up wave as the two moving averages placed below the price action are exerting upward pressure which could send the price higher.

    Trade suggestion

    Buy Stop at 20.100, Take profit at 20.300, Stop loss at 19.910



    WTI



    Fig: WTI H4 Technical Chart

    WTI crude prices are continuously forming lower highs and higher lows causing the commodity to move in a narrowing range. The market has failed to define a clear direction for itself and reversed regularly every time it hits the upper or lower trend lines that have marked the recent trading range, and no clear breakout or resolution of the trend has been observed. At the moment, crude prices are moving towards the 23.6% retracement at 45.55 and anticipated to reverse lower below this resistance.

    Trade suggestion

    Sell Limit at 45.55, Take profit at 44.50, Stop loss at 46.00



    SP500



    Fig: SP500 H4 Technical Chart

    The SP500 has recorded a crossover by the MA20 through the MA50 from below, suggesting further up moves on the index after the price action broke above the 2184.00 resistance. RSI (14) that has soared to 59.74 is also supportive for the prices to retest the recent high at 2193.00 reached on August 15.

    Trade suggestion

    Buy Stop at 2186.00, Take profit at 2193.00, Stop loss at 2177.50
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