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Signals by Capital Street FX

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Re: Signals by Capital Street FX

Postby CSFX.Support » Mon Oct 17, 2016 10:37 am

Central Bank Meetings Back In Focus, Busy Week for British Pound

U.S stocks were almost unchanged on Friday after paring earlier gains in the second half of the session. At the close, the Dow Jones Industrial Average rose 0.22%, while the SP 500 index and the NASDAQ Composite index finished just above break-even.

Financials led advancers as JPMorgan Chase, Wells Fargo and Citigroup, all reported third-quarter earnings data before the opening bell, and posted better-than-expected quarterly results. Stock investors were taken for a choppy ride this week, with sentiment largely driven by Chinese economic data, U.S earnings reports, and comments from the U.S Federal Reserve about the possibility of a move on interest rates this year.

The second presidential debate between Democrat Hillary Clinton and Republican Donald Trump started the week-gone-by without causing any significant moves on the major markets as investors continue to retain their view that Clinton holds an edge going into presidential election against her Republican rival. The only real market that witnessed some major moves based on the progress of the candidates was the USD/MXN(Mexican Peso) cross. The Mexican Peso rallied strongly against the USD after the Trump campaign was hit by the sexual harassment allegations against Trump.

The past week also witnessed the return of Chinese traders after a week-long break, and was marked by a significant drop in the local currency. The Chinese Yuan dipped to a six-year low against the U.S dollar last Monday, after the central bank’s announcement that the country’s foreign exchange reserves dropped more than expected in September. This drop in reserves marked a decline for the third month in a row and once again rang alarm bells over capital outflows from the world’s second-largest economy.

Chinese economic data for September set the tone for markets in the second half of the week ending on October 14th. While Thursday’s disappointing export-import data spurred concerns over weak demand in both China itself and other parts of the world such as the U.S, Europe and most part of Asia, Friday’s better-than-anticipated inflation results helped ease worries about the health of Chinese economy and spurred a bounce back in stock markets.

The U.S dollar continued to sustain its strength and finished the week higher against most of its peers as solid data on U.S. retail sales and producer prices reinforced the list of data releases supporting perceptions of a reasonably strong US economy and also reinforced perceptions of inflation making progress towards the central bank’s target.

As stated by the Census Bureau on Friday, sales at U.S. retail stores rebounded to 0.6% in September, after declining 0.3% in August. Core retail sales that strip out sales of automobiles also posted a gain of 0.5%. The data was in line with expectations. Producer prices and core producer prices, increased 0.3% and 0.2%, respectively, which were stronger than the market’s forecast.

Positive figures are believed to nudge a data-dependent Fed closer to a rate hike decision in the coming months. In an interview with The Wall Street Journal on Friday, New York Fed President William Dudley stated that he expected a rate rise to come as soon as this year.

Dudley’s remarks followed comments earlier in the day from Fed Chair Janet Yellen that indicated that the Fed might want to let inflation run hot for a while. Faced with an unusual situation of weak demand against strong supply, Yellen supposed that the central bank may be inclined to maintain easier monetary policy for longer. The comments were considered as dovish, but markets were not seeing them as a reason for the central bank to back-off from raising rates by year end.

Looking ahead to the coming week, investors focussing on the U.S dollar will be waiting for multiple economic data releases through the week. September consumer price data is due to be released on Tuesday. Building permits data is slated for Wednesday. Speeches by Fed officials including Fed Vice President Stanley Fischer and New York Fed President William Dudley are also scheduled in the week, in addition to the regular economic releases released every week such as Jobless Claims and Energy Inventories Data.

Moving on to the EU, the EUR observed the most severe weekly loss since the week ending June 24. The euro dropped below 1.10000, collapsing to the lowest since July 27th versus the U.S dollar amidst talks about the European Central Bank extending the QE at next week’s meeting. ECB President Mario Draghi has continuously stated that ECB policymakers are comfortable with the current level of stimulus, but may be willing to increase it anytime, if the economy weakens and demands a bigger stimulus.

At the last ECB meeting, President Draghi expressed more confidence about the outlook for the Eurozone economy, and even stated that the central bank had not discussed about changes to the QE program. Interest rates are expected to remain unchanged at the ECB meeting on Thursday. However, if Mario Draghi reinforces his concerns about the economy and puts greater emphasis on the need for more stimulus, further losses in the euro currency are likely.

Over in the U.K, the Sterling will also be under the spotlight next week given a busy economic calendar. From Tuesday to Thursday, the British pound will be affected by the results of data on inflation, average earnings, retail sales and employment numbers.

Above all, the outcome of the British High Court’s proceedings regarding the participation of the U.K Parliament in negotiations on the future EU-U.K. relationship will also exert significant effect on the GBP and the London Stock Exchange, not to mention indirect effects on the Euro Currency and European Stock Markets as well.

Last week, Prime Minister May made a concession to allow the Parliament to scrutinize the government’s plan for leaving the EU before she begins formal talks. However, PM May argued that she has the sole right to determine when Article 50 is invoked. In case the court finds that Parliamentary approval is needed, it would delay the process beyond the first quarter of 2017, as most parliamentarians are in favor of remaining within the EU. Nevertheless, regardless of the outcome from the high court, the case is likely to be sent to the Supreme Court, which may hear the case before the end of the year.

Out in Canada, the CAD traded higher this week as oil prices hovered near 4-month highs. No major economic reports were released during the past week, so a rise in crude prices played a key role in sustaining the Canadian dollar’s strength against its American counterpart. However, next week the focus will return to the Canadian economy, when its central bank will announce its rate decision on Wednesday. Prior to the Bank of Canada’s meeting, readings on August’ manufacturing sales will be released on Tuesday. Economic data on Canadian retail sales and inflation will round up the week for the CAD.

While the Australian dollar closed the week above the flatline, the Kiwi extended losses for the second consecutive week. In the coming week, the New Zealand dollar will take a back seat as only CPI data is due for release. In Australia, the minutes from the last central bank meeting will be released ahead of September data on the labour market. Another set of data releases that are likely to have a significant impact on the Australian dollar include Chinese third-quarter GDP data, as well as Chinese retail sales and industrial production numbers, that are slated to be published on Wednesday.

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Re: Signals by Capital Street FX

Postby CSFX.Support » Mon Oct 17, 2016 10:52 am

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Daily Report on October 17, 2016


Asian shares retreated on Monday along with oil prices while the U.S dollar held on to its strength against a basket of major currencies. The greenback extended its gains following strong data on U.S retail sales and producer prices for September, that was released on Friday that reinforced expectations of a December interest rate hike by the Federal Reserve.

Also contributing towards supporting the U.S dollar index to seven-month highs, were U.S Treasury yields, that were at over-four-month highs after Federal Reserve Chair Janet Yellen suggested the Fed may allow inflation to exceed its 2 percent target. Higher U.S. bond yields attract more foreign investors, consequently pushing demand for the U.S dollar up.

Fed Vice Chair and FOMC member Stanley Fischer is due to deliver a speech today after the release of September industrial output data, while the earnings season will continue with big names including the U.S’ second largest lender by assets Bank of America Corporation and New York-based technology company International Business Machines Corporation reporting third quarter results today.

Oil prices dropped early on Monday, weighed by rising rig count in the United States. Coming on top of record OPEC-output that triggered renewed fears of global glut, a closely watched report by oil services provider Baker Hughes on Friday showed four oil drilling rigs were added in the week to October 14. This marked the 16th consecutive week of a rise in the oil rig count, which indicates increasing production within the US too.

Elsewhere, Bank of Japan Governor Haruhiko Kuroda said on Monday that the central bank will adjust monetary policy as needed to achieve its 2 percent inflation target. In its monetary policy meeting last month, the BOJ announced a shift in its focus towards interest rates, instead of expanding the monetary base further, after years of massive money printing and asset purchases, which have failed to pull the economy out of stagnation.



Technicals

EURNZD



Fig: EURNZD H4 technical chart

The New Zealand dollar has been on a rally against the Euro for almost a week. The pair has breached the support at 1.55500 on Friday and may make a breakout below the upward sloping support trendline connecting the higher lows. Signaling further down moves, the short-term MA20 has crossed over the long-term MA50 from above. RSI that dipped as low as 31.62 and ADX index that has reached 38.44 consolidated the downside.

Trade suggestion

Sell Stop at 1.54400, Take profit at 1.53400, Stop loss at 1.55000



GBPJPY



Fig: GBPJPY H4 technical chart

After a period of time moving sideways between the support at 130.000 and the resistance at 132.300, the pair fell out of the range and sustains its down moves. The British Pound has been weighed down by the short-term MA20 and has stayed within the bearish territory for two weeks, as can be seen in the RSI indicator window. The continuation of the downtrend may bring the pair to as low as 125.300.

Trade suggestion

Sell Stop at 126.500, Take profit at 125.300, Stop loss at 127.700



AUDUSD



Fig: AUDUSD H4 technical chart

AUDUSD peeked out of 23.6% retracement on Friday but failed to sustain the bullish sentiment to push the pair higher. The Aussie pulled back below this level but bottomed out around 0.75800 and is approaching the 23.6% handle again. RSI is moving sideways above the 50 line, indicating a strong bull in the market. The pair is expected to breach the 23.6% resistance with support from two MAs.

Trade suggestion

Buy Stop at 0.76200, Take profit at 0.76450, Stop loss at 0.75800



GOLD



Fig: GOLD H4 technical chart

Gold proved to be resilient against the support at 38.2% Fibonacci retracement. The metal did fell below this level twice before but buyers jumped in to buy the dips every time to support the price back up to its range. The price action has crossed over the short-term MA20 and the gold market has entered the bullish zone, as indicated by the RSI chart. Gold may reach the upper boundary at 1265.00 in case the upside extends.

Trade suggestion

Buy Stop at 1256.00, Take profit at 1265.00, Stop loss at 1249.50



WTI



Fig: WTI H4 technical chart

U.S WTI has been fluctuating widely since it hit the four-month highs at around 51.60. The commodity may resume its downtrend after some corrective moves which brought the pair back to above the 50.00 level, as the short-term MA20 has crossed over the long-term MA50 above. RSI index remains below 50 line and is pointing downwards to the oversold zone, suggesting further declines.

Trade suggestion

Sell Stop at 50.00, Take profit at 49.30, Stop loss at 50.40



NASDAQ 100



Fig: NASDAQ 100 H4 technical chart

U.S Nasdaq 100 index has had a choppy trading session last Friday. The price action could not break out of the range between 4750.00 and 4840.00 and had to pull back after hitting the upper boundary. The level at 4840.00 also witnessed a failed attempt of the index to surpass the long-term MA50. A reversal into the downtrend has been confirmed by the stochastic chart where the %K line penetrated the %D line from above.

Trade suggestion

Sell Stop at 4800.00, Take profit at 4750.00, Stop loss at 4840.00

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Re: Signals by Capital Street FX

Postby CSFX.Support » Mon Oct 17, 2016 6:09 pm

Bank Of America Results Beat Estimates -Trading Revenue, Cost Cutting Support – Buyers Rush In

Bank of America Corp is the fourth bank to report third-quarter earnings results after a trio of U.S lenders had surprised markets with better-than-expected data. Mingling with the positive tone of its rivals, Bank of America reported pretax profit that was at its highest in a decade.

Thanks to rising bond trading and Chief Executive Brian Moynihan’s cost-cutting campaign, the second-largest U.S. bank by assets was paid off with first profit increase in three quarters. In the three-month period through September, the bank generated a profit of $4.96 billion, or 41 cents a share, up from $4.62 billion, or 38 cents a share, in the same period of 2015.

Furthermore, revenue added 3% to $21.64 billion, beating the $20.97 billion expected by analysts. Meanwhile, expenses declined 3.3% to $13.48 billion, from $13.94 billion a year ago. Mr. Moynihan promised to continue to cut annual expenses by $5 billion by 2018.

Bank of America Trade suggestion
Buy Stop at 16.05, Stop loss at 15.90, Take profit at 16.20

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Re: Signals by Capital Street FX

Postby CSFX.Support » Tue Oct 18, 2016 10:22 am

Silver signal by Capital Street FX

From GMT 07:47 18/10/2016
Till GMT 21:00 18/10/2016

Buy at 17.660
Take profit at 18.000
Stop loss at 17.330
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Re: Signals by Capital Street FX

Postby CSFX.Support » Tue Oct 18, 2016 10:30 am

Image
Daily Report on October 18, 2016

Asian markets nudged higher on Tuesday as oil prices firmed. The US Dollar Index however, weakened after mixed data on Monday and a speech from Federal Reserve Vice Chairman Stanley Fischer that outlined some factors that have been contributing to keeping interest rates low.

In a report released by the Federal Reserve Bank of New York on Monday, data indicated that the manufacturing activity index fell to -6.8 in October, after contracting to -2 in September. The Empire State index turned more pessimistic in October and posted the weakest reading since May, which is unlikely to bolster the case for a rate hike.

U.S shares closed lower on Monday. Anxiety over the U.S presidential election with the last and final presidential debate scheduled on Wednesday, the unclear situation of the Chinese economy, and risks of accelerating inflation raised risk aversion on Wall Street yesterday. Investors can be expected to close out more positions and move to the sidelines today, as a batch of Chinese economic data is slated to be published early tomorrow. The sell-off last week as a result of weak trade data from China trigger a higher degree of risk aversion among investors.

Oil prices rose in early Asian trade today, and the commodity dependent Australian Dollar was helped by the rise in the oil price, as well as the release of the minuted from the RBA's last meeting. According to the minutes, economic expansion is forecast to continue and stimulate job creation which will eventually result in higher wages and reasonable inflation. The Reserve Bank of Australia held rates unchanged at 1.5% in its October meeting and is widely expected to temporarily pause its rate cut plans at its next meeting on November 1st.

The New Zealand dollar also surged today after data showed inflation last quarter was stronger than economists had forecast. Statistics New Zealand reported on Tuesday that consumer prices rose 0.2 percent from the previous quarter, compared with the median forecast for no change in the three-month period until September.



Technicals

USDCAD



Fig: USDCAD H4 Technical Chart

USDCAD has extended its downtrend from as high as 1.33062 recorded last Thursday. The pair has been on track to complete the double top pattern after prices fell below the neck level at 1.31400. The price has broken below the upwards slopping support trendline that connects higher lows, and the short-term MA20 has crossed the long-term MA50 above the price action. The pair is expected to extend its down moves. However, since RSI has neared the oversold zone and the stochastic lines have even entered the oversold territory, a pullback will soon occur.

Trade suggestion

Sell Stop at 1.30900, Take profit at 1.30500, Stop loss at 1.31200



AUDUSD



Fig: AUDUSD H4 Technical Chart

AUDUSD has been enjoying a strong rally that brought the pair from as low as 0.75058 to surge more than 160 pips to surpass two important Fibonacci levels at 38.2% and 23.6%. On the path higher, the pair fell into a corrective pull back at one time but was supported by the two MAs placed below the price action. The Aussie is facing a firm resistance at 0.76730 which was the shoulder level in the last price cycle. However, with the wide gap between the %K line and the %D line, and an ADX index that has soared to 37.24, a breakout higher is expected.

Trade suggestion

Buy Stop at 0.76730, Take profit at 0.77000, Stop loss at 0.76430



EURNZD



Fig: EURNZD H4 Technical Chart

EURNZD has fallen below the major support at 1.53400 – the level that has forced the price to reverse higher since late September. However, the pair seems to be attempting to crawl back above this handle as the market has been trapped in the oversold territory for a while. With the ADX at an extremely high level at 62.65, a rebound upwards is anticipated.

Trade suggestion

Buy Stop at 1.53500, Take profit at 1.54775, Stop loss at 1.52850



SUGAR



Fig: Sugar H4 Technical Chart

Sugar has been trading sideways within a shrinking range. As can be seen from the indicator windows, while RSI has swung back and forth around the 50 line, the ADX has also remained below 20, which indicates no clear trend being formed in the market. However, we can see that sugar has consistently been supported by the long-term MA50 which is placed below the price action. The commodity, as a result, may surge a little higher today.

Trade suggestion

Buy Stop at 23.20, Take profit at 23.50, Stop loss at 22.80



BRENT



Fig: Brent H4 Technical Chart

Brent crude has bounced back from the support at 51.30 for the fourth time in nearly two weeks. As can be observed from the chart, lower highs are being formed and every effort by buyers to push the price higher is soon wiped out by the sellers. This suggests that there may be less room to buy or sellers are overshadowing the market currrently. Despite recent up moves, the upside seems limited as the price action has hit the resistance zone at the short-term MA20 which is placed above the price action. If the 51.30 level is breached, the commodity may fall to as low as 50.00.

Trade suggestion

Sell Stop at 51.70, Take profit at 51.30, Stop loss at 52.10



EURO STOXX 50



Fig: Euro Stoxx 50 H4 Technical Chart

Euro Stoxx 50 index created a gap up on the market open today. We have also received signals for further rallies in the index. Not only has RSI index surpassed the 50-line but the %K line has also penetrated the %D line from below, suggesting upside momentum. Still, the upside is not likely to be strong enough to help the index break out of the recent trading range, whose upper boundary is at around 3038.00.

Trade suggestion

Sell Limit at 3038.00, Take profit at 3004.00, Stop loss at 3047.00
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Re: Signals by Capital Street FX

Postby CSFX.Support » Tue Oct 18, 2016 5:50 pm

IBM Earnings Continue to Fall – Growth Potential In New Businesses Encouraging – Buyers May Benefit

Shares of International Business Machines Corp. (IBM) dropped 3.04% to $150.07 per share in extended-hours trading on Monday after the company reported overall revenue that fell for the 18th consecutive quarter.

IBM earned $2.85 billion, or $2.98 a share, in the third quarter, compared with $2.95 billion in the same period last year. Excluding charges, IBM reported earnings of $3.29 a share in the quarter ending September 2016, topping economists’ forecast of $3.23 a share. IBM’s revenue came in at $19.2 billion, which was also above expectations. However revenue remained flat compared to the year-ago quarter. The company retained its 2016 projection of adjusted earnings of at least $13.50 a share.

Even after its shares reversed lower, having ticked up 0.2% in the regular trading day, outlook for the New York-based technology seems promising with some growth in newer businesses such as cloud computing and artificial intelligence. Cloud revenue grew 2.4% to $8.75 billion during the quarter.

IBM Trade suggestion
Buy Limit at 151.50, take profit at 153.00, stop loss at 150.00

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Re: Signals by Capital Street FX

Postby CSFX.Support » Tue Oct 18, 2016 6:03 pm

DAX Soars With Commodity Prices. Can the Index Breach The 10700.00 Handle?

European stocks traded higher on Tuesday, with gains in commodity producers, banks and optimism over easy monetary policy in the Euro Zone helped shares rebound from losses suffered on Monday. The DAX30 index has added 1.24% so far to 10,633.85.

A soft U.S dollar helped lift oil and metal prices, which subsequently pushed up share prices of German energy companies. Shares of RWE – Germany’s second-largest utility – topped the market, soaring more than 3% after it reported a 10% increase in profits for the first half of 2016. The company has benefitted from the restructuring of its UK business which had been started in March. The firm said the program will take around two years to complete and will cost about 2,400 jobs from its 11,500-strong workforce.

RWE reported that its net income in the first half of this year reached €598 million ($659 million), and reiterated its earnings forecast for the full year of between €500 million and €700 million.

RWE’s rival, energy supplier EON has also had a nice performance today. Stocks of EON rose by 1.95% thus far, remaining one of the biggest gainers in the market, fueled by rising oil prices.

Mohammad Barkindo, Secretary General of the OPEC on Tuesday reinforced the participation of Russia in the highly anticipated plan to limit global oil production. Speaking at the sidelines of the “Oil & Money” conference in London, Barkindo said that Russia has been very active in trying to stabilize the oil market and that he will meet with Russia’s Energy Minister Alexander Novak next Monday to discuss the details of the output cut plan.

Out of the 30 companies in the DAX 30 index, only shares of Continental AG were trading lower today. The Hanover-based company cut its 2016 profit forecast, citing warranty costs and antitrust-fine provisions as factors that will dent profits. Higher research and development spending, as well as costs from disruptions at a supplier in Japan because of an earthquake in August will also contribute to a 480 million-euro ($529 million) fall in operating profit.

The DAX30 not only created a big gap up on the opening today, but also took off to a one-week high at around 10656.26. The strength of the recent rally can be seen on the price chart with recent candles showing almost no upper shadows. The price action has solidly crossed over both MA’s from below, with both moving averages placed below the price action and the RSI above 50. The DAX may come up against stiff resistance at the 10700.00 threshold.

Trade suggestion

Buy Stop at 10660.00, Take profit at 10700.00, Stop loss at 10600.00

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Re: Signals by Capital Street FX

Postby CSFX.Support » Wed Oct 19, 2016 10:30 am

Image
Daily Report on October 19, 2016

China Shows Signs of Stabilization, Oil Up on Failing Supplies


Asian shares surrendered earlier gains as an unexpected slowdown in China’s industrial output overshadow gross domestic product figures that matched economists’ forecast. Chinese National Bureau of Statistics said that the country’s industrial output rose 6.1% in September from a year earlier, down from 6.3% in August and missing estimates of 6.4%.

However, there are still signs of stabilization in China as its economy was reported to expand by 6.7% compared to the same period last year, which is in line with expectations. On a yearly basis, retail sales also observed a rise that beat forecast and was up from August data. Chinese retail sales rose 10.7% in September, topping estimates and August readings which are at the same level of 10.6%.

Oil ticked higher on Wednesday on the back of the American Petroleum Institute’s report that showed crude stockpiles fell 3.8 million barrels in the week to October 14. The decline contrasted with forecast calling for a supply rise. The U.S. Energy Information Administration (EIA) is due to release official fuel storage data later today.

Also in the U.S, the Labor Department on Tuesday reported the consumer-price index increased 0.3 percent in September from the previous month, posting the fastest pace in five months. Compared with September 2015, the cost of living in the U.S. rose 1.5%, the most since October 2014. The report showed that the U.S inflation may be getting closer to the Federal Reserve’s goal thanks to a gradual pickup in housing and energy prices.

Elsewhere, the New Zealand dollar’s rally held on its strength as dairy prices reversed higher after a slump two weeks ago. At the latest Global Dairy Trade auction, the GDT price index gained 1.4% since the last sale early this month. The futures market turned to more tightening after Fonterra said it would reduce the amount of product available for sale at the auction due to lower-than-usual milk volumes for October.



Technicals

AUDNZD



Fig: AUDNZD H4 technical chart

Having reached three-month highs at 1.07632, AUDNZD slid below the 38.2% retracement. A short period of consolidation can be observed when the pair moved sideways above this level, however, the price action eventually crossed over a couple of moving averages and breached the 38.2% handle as well. This suggested a reversal into downtrend. Stochastic lines pointing downwards and ADX soaring as high as 34.38 also consolidates further declines.

Trade suggestion

Sell Stop at 1.06250, Take profit at 1.05750, Stop loss at 1.06700



EURUSD



Fig: EURUSD H4 technical chart

EURUSD resumed its downtrend after a correction from two-month-and-a-half lows at 1.09631. The pair had to give up its strength after hitting the short-term MA20 at around 1.10090 but has been trading in a thin range for a while. The bear, which is overwhelmingly dominant in the market as indicated by the RSI chart, is expected to sustain its strength after a period of gaining momentum

Trade suggestion

Sell Stop at 1.09700, Take profit at 1.09250 Stop loss at 1.10000



EURJPY



Fig: EURJPY H4 technical chart

EURJPY has breached the major support at 114.000 after being held above this level for two weeks. The pair has been under aggressively downward pressure created by two MAs hovering above the price action. Sellers continue to dominate the market and may damp the pair lower. EURJPY has penetrated a range that witnessed the pair moving sideways two time previously. If it can break below this trading range, EURJPY may find near-term support at 112.000.

Trade suggestion

Sell Stop at 113.550, Take profit at 112.000, Stop loss at 114.000



GOLD



Fig: GOLD H4 technical chart

Gold hit one-week high at around 1265.00 but failed to retain its momentum. The yellow metal has generally been trapped in a trading range between the resistance at 1265.00 and the 38.2% retracement at 1249.76. Although the price action has crossed over the MAs which have converged below the price chart, the upside seems limited. A breakout above the 1265.00 level is not expected today.

Trade suggestion

Sell Stop at 1260.00, Take profit at 1250.00, Stop loss at 1268.00



BRENT



Fig: BRENT H4 technical chart

The support at 51.30 seems quite resilient as it continued to support the price to trade higher yesterday. In general, the commodity remains moving sideways above this level and under the control of two moving averages hanging above the price action. We are observing Brent struggling with the long-term MA50 again with the RSI pointing to bullish territory. However, to confirm the uptrend, the price action needs to decisively cross over the MA50 first.

Trade suggestion

Buy Stop at 52.30, Take profit at 53.30, Stop loss at 51.30



SP500



Fig: SP500 H4 technical chart

SP500 index has crawled back from the handle at 2145.00 for the third time for the past week. The index has turned its old support into a new resistance after it breached through this level on October 11th. The price action has broken above the short-term MA20 but remained under downward pressure from the long-term MA50. The market trend is not clear, which can be observed from the under-20 ADX index and a RSI moving around average level. Considering recent bullish candles that has short bodies and long upper shadows, the market is likely to be favor of the bear.

Trade suggestion

Sell Stop at 2135.00, Take profit at 2123.00, Stop loss at 2146.00
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Re: Signals by Capital Street FX

Postby CSFX.Support » Wed Oct 19, 2016 10:35 am

EUR/CHF signal by Capital Street FX

From GMT 07:40 18/10/2016
Till GMT 21:00 19/10/2016

Sell at 1.08600
Take profit at 1.08420
Stop loss at 1.08720
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Re: Signals by Capital Street FX

Postby CSFX.Support » Wed Oct 19, 2016 6:45 pm

Coffee Pares Gains after Strong Rally, Bulls May Come Back Soon

Coffee prices declined in early trading hours on Wednesday, after marching higher for five trading days in a row, as erratic rainfall in Brazil is bringing potentially supply threats to the upcoming crop. Even though coffee prices have rallied for eight out of the last ten sessions, investors betting on coffee are able to bid the commodity up even higher as the already supply shortfall situation is expected to get worse.

Brazil, the world’s second largest robusta coffee producer may have to witness another poor crop as the latest erratic rainfall could hurt they key flowering period which will directly decide yields of coffee beans. While the upcoming crop is being threatened, the last two years of drought in Brazil has damped the top grower’s production significantly.

Bad weather has also impacted the robusta crops in Vietnam – the largest robusta producer. According to market sources, the country’s worst drought in three decades caused its crop to decrease by 11% this year. Drought conditions in Vietnam have led farmer in Central Highlands to switch to grow other crops which are more economic in the use of water.

The International Coffee Organization forecast the coffee market will experience the third consecutive year in which supply has lagged behind demand. ICO on Friday anticipated poorer crops for Colombia, Indonesia, Brazil and Vietnam in the 2016/17 crop year due to unfavorable weather conditions, after estimating a supply deficit of 3.3 million bags for the 2015/16 crop year that has just ended.

Traders will likely pay close attention to the rains in Brazil. If satisfactory rainfall comes in the following weeks, the commodity will be poised for a correction, but continued concerns over dryness would definitely support upside.


Coffee retreated from four-week highs at around 159.40 after a rally that sent the commodity more than 10% higher. The coffee market entered the overbought zone and consequently pulled back as bulls has been exhausted after sustaining the price higher for a long period of time. However, after some corrective moves, coffee prices are expected to resume its uptrend with supports from two MAs placed under the price action.

Trade suggestion

Buy limit at 157.00, Take profit at 159.00, Stop loss at 155.00

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