Daily market review – February 22nd 2017 07:00 (GMT+1)

dynamics-ax-bi

The trading on the stock exchanges of Wall Street yesterday ended with rising prices.
The three major indexes posted new records, as when the Dow Jones rose by 0.6%, capping an eighth consecutive day of gains.
The S&P 500 rose by a similar amount and the Nasdaq added 0.5% to its value.

The recently released economic data, especially the inflation and the manufacturing data, are supporting the positive sentiment in the markets and contributed to the strengthening of the US dollar.

The reporting season is in the final stretch yesterday the retail giant Wal-Mart reported on a net profit of 1.3 dollars per share for its fourth fiscal quarter, one cent above market forecasts.
Revenues totaled about $ 130 billion, compared with analysts’ forecasts which stood at $ 131 billion.

Commodity market,
The price of WTI crude oil rose yesterday by 1.1% to a price level of 54.33 dollars per barrel.
The price of the gold closed with a slight drop of 0.1% (20 cents) and was set on a price level of 1.238.90 dollars per ounce.

Trading Opportunity:

GBP/USD

gbp-usd-1h-22-2-17-1
On an hour chart there is a triangle pattern.
Our main tendency is to look for a brake down of the triangle because it will be a continuity of the previews move of th pair.
If so, the break level will be below 1.2400.
If the pair will break-up the triangle, the entry point will be above 1.2500.

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