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Market Outlook by Capital Street FX

Dive deeper into the fundamentals of the market. If you come across any major Forex related news item or wish to share your opinions and ideas related to the local or global economy, this forum is the place for you. Share the news and views about Fundamental Analysis and economic events here.
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Tue Jun 06, 2017 5:25 pm

EUR/AUD signal by Capital Street FX

From GMT 9:00 06/06/2017
Till GMT 21:00 06/06/2017

Sell at 1.49800
Take profit at 1.49300
Stop loss at 1.50000
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Thu Jun 08, 2017 6:29 pm

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Daily Report on June 08, 2017



Asian shares inched lower on Thursday as investors were reluctant to add any big positions in risky assets ahead of key events scheduled to come out later in the day. The MSCI Asia Pacific Index lost more than 0.2 percent, led by declines in stocks of energy producers.

While Hong Kong’s Hang Seng and the Shanghai Composite Index were little changed, South Korea’s Kospi index lost 0.3 percent after North Korea launched a series of short-range missiles early Thursday. Thanks to the dollar's rebound against the yen, Japanese equities advanced. The Topix index rose 0.1 percent while Japan's Nikkei N225 added 0.3 percent.

According to Japan’s Cabinet Office, the economy grew less than the government initially reported for the first quarter. In the three-month period to March, Japan's economy - the world's third largest - expanded at an annualized rate of 1.0 percent, well below the preliminary estimate of 2.2 percent growth.

Australia’s S&P/ASX 200 Index fell 0.1 percent after the Australian Bureau of Statistics on Thursday reported the country’s trade balance to drop to a surplus of $0.56 billion in April from a surplus of $3.1 billion recorded in March. As stated by the data, while imports only shed 1 percent, exports plunged by 8 percent in April, leaving the result well below expectation calling for a surplus of $1.95 billion.

Crude oil futures prices pared losses after having nose-dived more than 5 percent on Wednesday. The sharp down move came after the Energy Information Administration reported an unexpected rise in U.S. crude stockpiles.



Technicals

NZDJPY



NZDJPY has been trading sideways to higher around the 38.2% Fibonacci retracement. The pair has breached last Friday’s high of 79.100 and seems to break out of its currently narrow trading range. With support from rising RSI and ADX index which indicates a strong bullish force in the market, the pair is expected to test a resistance at 79.600.

Trade suggestion

Buy Stop at 79.200, Take profit at 79.600, Stop loss at 79.000



EURJPY


EURJPY failed to break out of a resistance which is the short-term MA20. The pair had to give up its upbeat moves to reverse lower after hitting this stance in early trade. The support at 122.600 is expected to be tested again. This is a strong level which has forced the price to rebound on May 18th and June 07th.

Trade suggestion

Sell Stop at 123.300, Take profit at 122.600, Stop loss at 123.700



GBPUSD


With the support from two MAs that are lingering below the price, GBPUSD has been tracing an uptrend which has brought its price action above a firm resistance at 23.6% Fibonacci level. A strong handle at 1.30400 is within the sight as both RSI and ADX indices are edging higher, indicating a strong bullish momentum.

Trade suggestion

Buy Stop at 1.29800, Take profit at 1.30400, Stop loss at 1.29500



WTI


WTI crude price has fallen into a consolidation following a sharp down move on Wednesday that helped the price break out of a support at 46.70. The commodity fell to another support at 45.80 and is struggling at this level. As can be seen from the price chart, two MAs hanging below the price action are exerting downward pressure on the price, not to mention a low RSI that indicates a dominating bearish market. The price is expected to drop lower to test a significant level at 38.2% Fib.

Trade suggestion

Sell Stop at 45.75, Take profit at 44.80, Stop loss at 46.10



Natural Gas


Natural gas prices failed to cross over a dynamic resistance which is the long-term MA50. The commodity price fell below the 38.2% Fibonacci retracement and also below the short-term MA20, suggesting a reversal into a downtrend. RSI has drifted to as low as 41.02 while the ADX index headed lower, indicating a weakening uptrend. A support at 2.930 is expected to be tested.

Trade suggestion

Sell Stop at 3.000, Take profit at 2.930, Stop loss at 3.030
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Thu Jun 08, 2017 6:40 pm

Supported by Suspended Operations in Chile’s Mines and China Trade Balance, Copper Soars

Copper futures prices rose for second day in a row on Thursday after upbeat Chinese trade balance and reports that mines in Chile – the world’s biggest copper exporter – have suspended key operations due to heavy rains.

Copper futures for July delivery added more than 0.5 percent after the Customs General Administration of China reported that the country’s overseas shipments accelerated in May compared to that of a year ago.

As stated by the data released on Thursday, China’s exports jumped 8.7 percent in May in dollar terms while imports soared 14.8 percent, bringing the trade balance to $40.81 billion dollars. China’s trade surplus in May widened from April’s $38.05 billion.

In yuan terms, exports climbed 15.5 percent and imports surged 22.1 percent, leaving a trade surplus of 281.6 billion yuan. Thanks to an improvement in global demand, both figures beat expectations. Copper prices increased as a result as the data showed a strong appetite for China’s imports of industrial commodities which helps boost resources prices worldwide.

Meanwhile, Reuters on Wednesday reported that operations in some locations in Chile were halted after the country’s northern area was hit by snowstorms. The harsh weather condition caused Chile’s emergency service Onemi to trigger its highest ‘red alert’ warning and to implement safety protocols in the region of Antofagasta.

BHP Billiton’s Escondida – the world’s biggest copper mine – said all of its operations had been suspended due to heavy snow. Antofagasta PLC and state-owned mining company Codelco also announced interruptions to productions at their mines after heavy rains lashed the high altitude desert region of Antofagasta.


Copper rebounded strongly from a couple of moving averages. The commodity has officially escaped from the previous downtrend which was under downward pressure from two MAs. As can be seen from RSI index chart, the index did not only breach the central line but also surged to as high as 66.37, indicating a strong bullish momentum in the copper market. The commodity price is likely to extend its up moves. A resistance at 2.5930 is within the sight.

Trade suggestion

Buy Stop at 2.5700, Take profit at 2.5930, Stop loss at 2.5600

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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Thu Jun 08, 2017 6:45 pm

SILVER/USD signal by Capital Street FX
From GMT 15:30 08/06/2017
Till GMT 21:00 08/06/2017
Sell at 17.390
Take profit at 17.290
Stop loss at 17.440


EUR/GBP signal by Capital Street FX
From GMT 17:00 08/06/2017
Till GMT 21:00 08/06/2017
Sell at 0.86600
Take profit at 0.86200
Stop loss at 0.86800
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Mon Jun 12, 2017 7:04 pm

Image
Daily Report on June 12, 2017



Asian shares were mixed on Monday with stocks of technology companies stumbling after Friday’s selloff in U.S. technology equities. Shares of Samsung Electronics Co. led declines, slumping 1.7 percent and sending South Korea’s Kospi down 0.8 percent. Hong Kong’s Hang Seng index and Shanghai Composite index also retreated, dropping 0.6 percent and 0.1 percent, respectively.

While the Nikkei 225 Stock Average shed 0.4 percent, Japan’s Topix rose 0.2 percent. According to Japan Cabinet Office, the country’s core machinery orders fell more than expected in April. The figure dropped 3.1 percent from a month earlier, well above economists’ expectation calling for a decline of 1.3 percent. This was the first drop in three months, adding concerns about the country's fragile economic recovery.

Markets in Australia, Malaysia and the Philippines are closed for public holidays on Monday.

As stated by the credit card firm Visa, British consumers cut their spending for the first time in nearly four years last month. Consumer spending in May was reported to decline by 0.8 percent compared to the same month in 2016. This marked the first year-on-year fall since September 2013. On a monthly basis, sales fell by 1.9 percent.

Crude oil futures rose on Monday after Russia's energy minister Alexander Novak on Sunday said that he the oil market is expected to balance in the first quarter of next year on hope that global inventories will fall to a five-year average.



Technicals

USDCAD


USDCAD reversed lower following a correction as the currency pair has been under downward pressure from two MAs lingering above the price action. The pair is facing a strong support at 1.34400 again after consistently rebounded after hitting this stance. RSI remains under the 50 line while ADX index is soaring, suggesting a strengthening bearish momentum. Further declines are expected.

Trade suggestion

Sell Stop at 1.34400, Take profit at 1.33900, Stop loss at 1.34600



SILVER


Silver has been tracing a downtrend after having failed to cross over a resistance at 50.0% Fibonacci level. The precious metal extended its downward rally to a fourth day in a row, sending the price to the lowest level since June 02nd. RSI has fallen into the oversold zone while ADX index continues to edge higher, indicating a dominating bearish force in the market.

Trade suggestion

Sell Stop at 17.100, Take profit at 16.990, Stop loss at 17.150



COFFEE


Coffee has been trading sideways in a narrow range. The commodity failed to break out of a resistance at 128.50 and has been depressed by both long-term and short-term MAs. RSI retreated from the central line, suggesting a stronger downtrend. The commodity price is expected to trade lower and may test a support at 123.50.

Trade suggestion

Buy Stop at 126.00, Take profit at 123.50, Stop loss at 127.20



Natural Gas


After a gap down at the open, natural gas keeps trading in a narrow range below a significant resistance at 38.2% Fibonacci retracement. The RSI is flat at around 37, showing a bearish-dominated market. The short-term MA20 has crossed over the long-term MA50, signaling further drop in the prices.

Trade suggestion

Sell Stop at 3.000, Take profit at 2.970, Stop loss at 3.015



NASDAQ

Nasdaq index continued to inch lower after having gapped down at the close. The stock benchmark index fell below a support at 5721.00 – which had been a firm resistance in the past. Although RSI index has entered the oversold territory, ADX is marching higher, showing a strengthening force by sellers in the market. A support at 5660.00 is within the sight.

Trade suggestion

Sell Stop at 5710.00, Take profit at 5660.00, Stop loss at 5735.00
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Mon Jun 12, 2017 7:09 pm

U.S. Shares Tumble For a Second Day As Tech Stocks Extend Losses

U.S. stock market stumbled on Monday, losing ground for a second straight session as sharp declines in shares of technology companies weighed down overall performance.

While the tech-heavy Nasdaq Composite Index dropped 1.05 percent following a decline of 1.8% on Friday, the S&P 500 index shed more than 0.4 percent with seven out of the benchmark’s 11 sectors trading lower.

The selloff in technology stocks showed no signs of slowdown with shares of the top-five tech leaders which are Facebook, Amazon , Apple, Microsoft and Alphabet all in negative zone. Especially, shares of Apple plunged 3.66 percent after their shares were downgraded for the second time in a week.

The technology sector led losses, down 1.2%, while telecom and energy shares were up 0.9%.

Trade suggestion

Sell Limit at 2425.00, Take profit at 2415.00, Stop loss at 2430.00

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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Mon Jun 12, 2017 7:13 pm

Brexit Talks Around The Corner, Sterling Extends Downward Rally Amidst Rising Political Turmoil

British Pound slumped against all of its peers on Monday, extending its losses on Friday further as the currency was weighed down by concerns over the next leader of the country.

The pair GBPUSD lost more than 0.5 percent to trade around $1.2681, heading towards the lowest level since April 18th reached last Friday. Sterling lost ground amidst political turmoil for U.K. Prime Minister Theresa May. The PM left her Conservative Party without control of the House of Commons after Thursday’s snap election as it failed to win the minimum 326 seats needed to hold a parliamentary majority.

A hung parliament left investors cautious about the U.K.’s path on Brexit negotiations as the talks are scheduled to begin in a week. According to latest reports, May is seeking a coalition with Northern Ireland’s Democratic Unionist Party, which holds 10 seats, to form a new government. However, no agreement has been struck yet.

The prime minister herself is facing calls to step down from her post as she could not strengthen her party’s hand by calling the snap election mid-April. PM May is scheduled to have a meeting with lawmakers on Monday.

Trade suggestion

Sell Stop at 1.26700, Take profit at 1.26300, Stop loss at 1.26900

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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Mon Jun 12, 2017 7:21 pm

AUD/CAD signal by Capital Street FX

From GMT 03:00 12/06/2017
Till GMT 21:00 12/06/2017

Sell at 1.01050
Take profit at 1.01650
Stop loss at 1.01250
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Tue Jun 13, 2017 6:40 pm

Image
Daily Report on June 13, 2017



Global shares advanced on Tuesday thanks to an ease in the selloff in technology shares. The Stoxx Europe 600 Index climbed 0.4 percent, reversing higher from a decline of 0.1 percent on Monday. Australian shares led gains in Asian session, soaring 1.7 percent with energy and financial shares topping the market as investors returned from a holiday.

Japan’s Topix rose 0.1 percent while South Korea’s Kospi added 0.7 percent. Hong Kong’s Hang Seng index and Shanghai Composite Index also found themselves trading in positive territory, jumping 0.4 percent both. Futures on the S&P 500 Index added 0.2 percent.

The Canadian dollar continued to soar on Tuesday after having touched the strongest level in about two months versus the dollar in the previous session. The loonie was supported by rising possibility that interest rates might go up sooner than expected.

The pair USDCAD nose-dived by more than 0.3 percent on Tuesday to trade around C$1.3285 per dollar – the lowest level since April 17th, following a drop of more than 1 percent on Monday. Canadian dollar got a lift after Bank of Canada senor deputy governor Wilkins, during her speech late Monday, said that a rate hike could come sooner than anticipated.

U.S. Federal Reserve's two-day policy meeting set to start later on Tuesday. The central bank is widely expected to raise interest rates for the second time since the start of this year, raising its fed funds target range by a quarter points to a range between 1.0-1.25 percent. Investors will also be watching for any fresh hints on the pace of further tightening in the months to come and on the Fed's plans for trimming its balance sheet which might be revealed in a 30-minute press conference of Fed Chair Janet Yellen following the rate decision.



Technicals

CADCHF


CADCHF has been struggling around a resistance at 0.72900 – a stance which had been a strong support for the pair in mid-May. Recent steep up moves have sent the market into the overbought zone and caused the price to fall into a consolidation. In the event of continual upbeat trade, the pair is expected to hit another strong level at 0.73400.

Trade suggestion

Buy Stop at 0.73000, Take profit at 0.73400, Stop loss at 0.72800



SUGAR


Sugar failed to maintain its bullish momentum after having breached the short-term MA20. The commodity had to retreat from as high as 14.52 and has fallen below the MA20 again. RSI rebounded from the 50 line and is heading lower, signaling further declines. Sugar may attempt a support at 13.30.

Trade suggestion

Sell Stop at 13.80, Take profit at 13.30, Stop loss at 14.00



GOLD


Gold futures prices have been trading sideways to lower under the downward pressure exerted by two MAs hanging above the price action. The short-term MA20 has breached the long-term MA50 from above, indicating a strengthening downtrend. RSI remained at low level, signaling further declines.

Trade suggestion

Sell Stop at 1263.00, Take profit at 1257.00, Stop loss at 1266.00



SILVER



Silver has been tracing a sharp downtrend which helped the metal’s price to beach a firm support at 16.990 and sent the market into an oversold zone. Silver, however, is likely to extend its down moves as ADX index is soaring strongly with a widening gap between –DI and +DI lines. A support at 16.670 is within the sight.

Trade suggestion

Sell Stop at 16.800, Take profit at 16.670, Stop loss at 16.850



DAX 30


As can be seen from the price chart, Germany’s DAX 30 index has been supported by a couple of MAs. The stock benchmark index gapped up on Tuesday and looks set to soar higher as the market has jumped in the bullish zone, as indicated by the RSI index. ADX index is edging higher, confirming the uptrend.

Trade suggestion

Buy Stop at 12750.00, Take profit at 12840.00, Stop loss at 12700.00



NASDAQ 100



NASDAQ 100 index jumped higher at the open on Tuesday and is facing a strong resistance at 5723.00 where the stock benchmark index had to give up its strength and rebounded lower. RSI has risen from the oversold zone while the +DI line has converged with the –DI line from below. A resistance at 5785.00 is expected to be tested.

Trade suggestion

Buy Stop at 5725.00, Take profit at 5785.00, Stop loss at 5700.00
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Tue Jun 13, 2017 6:46 pm

Canadian Dollar Continues to Soar on Support from BOC’s Senior Official’s Hawkish Comments

The Canadian dollar soared on Tuesday after having touched the strongest level in about two months versus the dollar on Monday. The loonie was supported by rising possibility that interest rates might go up sooner than expected.

The pair USDCAD nose-dived by more than 0.3 percent on Tuesday to trade around C$1.3285 per dollar – the lowest level since April 17th, following a drop of more than 1 percent on Monday. Canadian dollar got a lift after Bank of Canada senor deputy governor Wilkins, during her speech late Monday, said that a rate hike could come sooner than anticipated.

On the other hand, the dollar held steady against a basket of currencies as investors were awaiting the U.S. Federal Reserve’s two-day policy meeting starting set to start later on Tuesday. The central bank is widely expected to raise interest rates for the second time since the start of this year, rising its fed funds target range by a quarter point to a range between 1.0%-1.25%.

Investors will also be watching for any fresh hints on the pace of further tightening in the months to come and on the Fed’s plans for trimming its balance sheet which might be revealed in a 30-minute press conference of Fed Chair Janet Yellen following the rate decision.

Higher rates could boost the dollar, sending the greenback higher against its rivals, including the loonie.

There will be no economic data for the Canadian dollar on Tuesday but the U.S. Bureau of Labor Statistics is scheduled to release data on Producer Price Index for May which is forecast to remain unchanged on a monthly basis.


USDCAD has declined for a third session in a row. The downward rally has sent the pair below a significant support at 38.2% Fibonacci level while the short-term DMA20 has crossed the long-term DMA50 from above, which indicates a strong bearish momentum in the market. ADX is soaring with a widening gap between the -DI and +DI lines. The pair is expected to edge lower and may test a support at 1.32200 – the lowest level since April 13.

Trade suggestion

Sell Stop at 1.32800, Take profit at 1.32200, Stop loss at 1.33000

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