Daily market review – March 31st 2017

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The trading in Asian stock exchanges is underway in a mixed trend.
Yesterday the US markets closed higher, but the Trump meeting with the China’s president next week, puts the Asian markets in uncertainty.
This will be their first meeting and it will be a tense meeting.
Trump implicitly accused China during his election campaign of losing jobs in the United States.
Trump is trying to improve the US position in the world trade, which may come, among other things, at the expense of China.

In China, the manufacturing PMI rose above earlier forecasts.
Overall, the index rose to 51.8 points from 51.7 points and the February reading of 51.6 points.

In Japan, the core index rose by 0.2%, a sharp rise that didn’t recorded for two years.
At the same time, household expenditure fell more sharply than expected.

Trading Opportunity
GBP/CHF

gbp.chf 1h 31.3.17

On an hour chart, after a double wave up, the pair arrived to a resistance area, as the RSI indicator signalling on an over bought area.
The tendency now is to look for an opportunity to join in with a decline, part of a technical correction at least.

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Daily market review – March 30th 2017

Wall Street indexes ended with a mixed trend yesterday.
The NASDAQ climb for a fourth consecutive day on the back of Britain’s official announcement of the start of its European Union exit.
The energy stocks led the gains after oil surged to a three-week high.

The price of oil jumped more than 2% on the back of continued disruption of oil production in Libya, and after the US Department of Energy reported a sharper than expected drop in US fuel inventories.
The WTI oil closed at a price level of $ 49.51 per barrel,

This morning the trading on Asian stock exchanges is in a negative trend
Tokyo fell by 0.8%, Hong Kong is losing 0.3%, Shanghai is weakening by 1.0%, Singapore and Seoul are down by 0.3%, Sydney is trading against the trend and rising by 0.3%.
The Japanese yen weakened by 0.2% against the US dollar to 111.2 yen per dollar.

The trading on European stock exchanges this morning is going up slightly.
The FTSE,CAC and the DAX are up by 0.1%.
The Euro is up by 0.1% against the US dollar to $ 1.07 per Euro.

Trading Opportunity
GBP/USD

gbp.usd 1h 30.3.17

The main trend of the pair is a down trend, and we are looking for opportunities to join in with this trend.
On an hour chart after the latest decline, a triangle pattern is developing.
If the pair will go below the level of 1.2410, which is the lower leg of the triangle, it could be a good signal to enter with the trend.

Daily market review – March 29th 2017

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Wall Street stock markets closed yesterday in a positive territory, as the US consumer confidence jumped unexpectedly to a 16-year high, and US home prices surged at the sharpest pace in nearly three years.
On a daily summery:
The Dow Jones Industrial Average climbed by 0.7%, the first increase in nine trading days, after completing the longest negative streak of days since August 2011.
The S&P 500 rose by 0.7% and the NASDAQ index added 0.6% on its way to a third straight day of gains.

Asian stocks rallied this morning after the rises on Wall Street.
Tokyo closed slightly up 1%, Hong Kong rising by 0.2%, Shanghai maintains stability, Singapore is up by 0.8% and Seoul is up by 0.2%.

There are gains in Europe as trading started.
The British currency decline because of the expectation of Britain’s official request to withdraw from the European Union, this afternoon.
The pound depreciates by 0.5% against the US dollar and trades at $ 1.2390 per pound, having already fallen this morning to 0.6% against the dollar
The FTSE is up by 0.4%, the CAC adds 0.3% and DAX is up by 0.4%.

Trading Opportunity
EUR/AUD

eur.aud 1h 29.3.17

The pair is changing the direction of his rising trend, as on an hour chart the pair broke down a diagonal support line.
The tendency is to try and enter with the new move down.

Daily market review – March 28th 2017

 

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Wall Street trading closed yesterday in a mixed trend after the leading indexes fell by up to 1% in the first few hours as the US dollar fell against the leading currencies after President Trump failed to pass the new health law last week.

In Asia this morning the price rises were recorded on most Asian exchanges, led by Tokyo, where the Nikkei index rose by 1%.
The Japanese yen was flat at 110.61 against the US dollar.
The Seoul Composite Index rose by 0.2% and the Hang Seng Index added 0.5%. Australia increased by 1.2% and in Shanghai a 0.6% retreat.

The trading on the European stock exchanges is continuing in a positive trend, following the gains in Asia.
The FTSE is up BY 0.1%, The DAX is climbing BY 0.5%, The CAC is gaining 0.1%, as the US dollar stabilizes against the Euro.

Trading Opportunity
EUR/AUD

eur.aud 1h 28.3.17

The main trend of the pair on an hour chart is a rising trend.
A double top pattern was created, and could lead to a small correction.
After the correction, if the pair will close above the latest resistance area, around the level of 1.4305, it will be an opportunity to join in with the rising trend.