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DAILY REPORT on 13th FEB 2018

Wall Street rebounded on Monday with broad-based gains as investors regained some confidence after U.S. equities’ biggest weekly drop in two years, but strategists stopped short of calling an end to the market pullback.

The announcement of President Donald Trump’s budget, including an infrastructure spending plan, helped sectors such as S&P materials and industrials.

“Investors probably were mulling things over the weekend and concluded that the economy is fairly strong, earnings are holding up, so there’s no particular reason to panic or sell. So some money probably came back into the market,” said John Carey, portfolio manager at Amundi Pioneer Asset Management in Boston.

The Dow Jones Industrial Average rose 410.37 points, or 1.7 percent, to 24,601.27, the S&P 500 gained 36.45 points, or 1.39 percent, to 2,656 and the Nasdaq Composite added 107.47 points, or 1.56 percent, to 6,981.96.

Asian stocks pulled further away from two-month lows on Tuesday, lifted by Wall Street’s extended rebound from last week’s steep fall, but investors remained cautious ahead of U.S. inflation data later in the week.

The Nikkei slipped lower by 0.75% on the day at session lows, and that’s keeping USD/JPY offered as the pair has now fallen to lows of 108.28.

In Australia, the S&P/ASX 200 rose 0.54% after National Australia Bank said business conditions jumped six points to 19 points for the month of January. In China, the Shanghai Composite gained a strong 1.80% and the Hang Seng index edged up 2.18%. HSBC gained 0.5% and China Construction Bank rose 2.2%.

Oil prices continued to recover on Tuesday, supported by expectations of higher global demand and higher imports from China.

Crude Oil WTI Futures for March delivery were trading up 0.49% at $59.58. Brent Oil futures for April delivery were trading up 0.58% to $62.94 on London’s Intercontinental Exchange.

In commodities, Gold was 0.17 percent up at $1,328.50 an ounce and off a five-week low of $1,306.81. Silver lost 0.03% to $16.565 an ounce. Copper prices earned by 0.58% to $3.105 a pound. U.S. cotton is 0.05% up at $76.41 while sugar gained 0.07% to $13.69.

Bitcoin is currently trading at 8593.9, 1.82% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $838.00, 0.64% lower on the Bitfinex exchange on Tuesday.  Ripple’s XRP token was 0.64% down on the Poloniex exchange, for the day. Litecoin was trading at $157.88, up by 2.14%

Technicals:

EURSEK

Fig: EURSEK D1 Technical chart

EURSEK is trading sideways on the daily charts. The market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 59.49. The MACD is above the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy stop at 9.92733, Take profit at 9.93569, and Stop loss at 9.91912

GBPJPY

Fig: GBPJPY D1 Technical charts

GBPJPY is trading in the negative zone, near the lower band of the Bollinger bands on the daily charts. The market is trading above the 200 day moving averages, but below the 9 day, 20 day, 50 day and the 100 day EMA. The RSI is at 38.02. The MACD is below the signal line and the negative bias is dominating the market sentiment.

Trade suggestion:

Sell stop at 149.805, Take profit at 149.445, Stop loss at 149.980

USDJPY

Fig: USDJPY D1 Technical charts

USDJPY is trading in the red zone on the daily chart. Currently, the price action is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 34.82. The MACD is ready to make a negative crossover below the signal line. Negative bias is dominating the market.

Trade suggestion:

Sell stop at 108.233, Take profit at 108.091, Stop loss at 108.400

RIPPLE

Fig: RIPPLE CASH D1Technical chart

XRP/USD is trading sideways on the daily chart. The RSI is nicely placed at 45.49.  The MACD has made a positive crossover above the signal line. The market is trading below all the moving averages (20 day, 50 day, 100 day and 200 day). The market is expected to trade in the positive territory.

Trade suggestion:

Buy limit at 1.0606, Take profit at 1.1093, Stop loss at 0.9377

SILVER

Fig: SILVER Technical chart

Silver is trading in the positive zone on the daily charts. The market is trading below the 20 day, 50 day, 100 day and the 200 day moving averages, but above the 9 day EMA. The RSI is at 45.91. The MACD is ready to make a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy limit at 16.550, Take profit at 16.698, Stop loss at 16.442

COFFEE

Fig: COFFEE GAS D1 Technical charts

Coffee is trading in the negative zone on the daily charts. The market is also trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 45.57. The MACD is below the signal line.

Trade suggestion:

Sell stop at 121.355, Take profit at 120.75, Stop loss at 122

CAC 40

Fig: CAC 40 Technical charts

CAC 40 is trading in the positive zone on the daily charts. Currently, the market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 36.91. The MACD is below the signal line. The market is expected to trade in the negative zone for the day.

Trade suggestion:

sell limit at 5133, Take profit at 5109, Stop loss at 5150