Daily Report
+1-949-335-4314
support@capitalstreetfx.com

DAILY REPORT ON MARCH 13, 2018

U.S. stocks advanced on Monday, with gains in shares of chipmakers and technology giants helping Wall Street extend last week’s rally that was powered by U.S. jobs data.

Gains in Apple, Amazon and chipmakers Broadcom and Micron Technology drove the S&P 500 higher.

Broadcom rose 2.9 percent following report that Intel was considering a possible bid for the company. General Electric rose 2.2 percent and was the biggest boost to the Dow.

The advances followed a near 2 percent gain for the main indexes on Friday after data showed sluggish wage growth in February, easing concerns about the Federal Reserve moving too fast on interest rate hikes.

The S&P and the Dow have nearly reclaimed those losses. Rapid gains in technology stocks have already powered the Nasdaq (IXIC) back to its record levels.

At 9:35 a.m. ET, the Dow Jones Industrial Average (DJI) was up 0.23 percent at 25,394.24. The S&P 500 (SPX) rose 0.17 percent at 2,791.32 and the Nasdaq Composite (IXIC) gained 0.25 percent to 7,579.83.

Asian stocks edged up on Tuesday with technology shares buoyed by gains in their Wall Street peers, but gains were limited ahead of U.S. inflation data later in the day which could offer clues on the pace of interest rate rises this year.

The index had surged 1.5 percent on Monday following firm U.S. jobs numbers on Friday, while low wage growth eased concerns about inflation and faster central bank rate hikes. But a mixed performance by U.S. shares overnight tempered the rally.

Japan’s Nikkei recouped earlier losses and rose 0.7 percent, with gains in chip-related technology shares helping offset losses in steelmakers and automakers still weighed by concerns about U.S. tariffs on imported steel and aluminum. Shanghai dipped 0.1 percent.

In commodities, crude oil prices extended losses after sliding the previous day amid ongoing concerns over rising U.S. output.

U.S. crude futures lost 3 cents to $61.32 per barrel after losing 68 cents the previous day. Brent dipped 2 cents to $64.93 per barrel.

Gold was lower on Monday at $1,320.60 an ounce. Silver lost 0.19% to $16.505 an ounce. Copper prices were 0.29% lower to $3.115 a pound. U.S. cotton is at $83.25, 0.04% lower.

Bitcoin is currently trading at 9,391.8, 2.82% lower on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $709.88, 2.54% higher on the Bitfinex exchange on Tuesday.  Ripple’s XRP token was 2.54% down on the Poloniex exchange, for the day. Litecoin was trading at $179.62, high by 4.07%.

Technicals:

EURSEK

Fig: EURSEK D1 Technical chart

EURSEK is trading in the positive zone on the daily charts. The market is trading above all moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 68.28. The MACD has made a negative crossover below the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy stop at 10.170, Take profit at 10.190, and Stop loss at 10.160

USDCHF

Fig: USDCHF D1 Technical charts

USDCHF is trading sideways on the daily charts. The market is trading below the 9 day, 20 day, and 50 day moving averages. The RSI is at 56.99. The MACD is above the signal line. The positive bias is dominating the market.

Trade suggestion:

Buy stop at 0.94831, Take profit at 0.95131, Stop loss at 0.94727

GBPUSD

Fig: GBPUSD D1 Technical charts

GBPUSD is trading in the positive zone on the daily chart. Currently, the price action is trading above all the moving averages (9 day, 20 day 50 day, 100 day and 200 day). The RSI is at 50.09. The MACD is ready to make a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy limit at 1.38950, Take profit at 1.39312, Stop loss at 1.38740

ZCASH

Fig: ZCASH D1Technical chart

ZEC/USD is trading in the negative zone and is near the lower band of the Bollinger bands on the daily chart. The RSI is nicely placed at 33.21. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day, and 200 day). The MACD is below the signal line. The market is expected to trade in the negative territory.

Trade suggestion:

Sell limit at 281.750, Take profit at 268.560, Stop loss at 295.030

SILVER

Fig: SILVER D1 Technical chart

Silver is trading in the negative zone on the daily charts. The market is trading below all the moving average (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 47.01. The MACD is above the signal line. Negative bias is dominating the market.

Trade suggestion:

Sell limit at 16.382, Take profit at 16.300, Stop loss at 16.410

COFFEE

Fig: COFFEE D1 Technical charts

Coffee is trading in the negative zone on the daily charts. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 42.96. The MACD is ready to make a negative crossover below the signal line. The market is expected to trade in the negative zone for the day.

Trade suggestion:

Sell stop at 119.55, Take profit at 118.80, Stop loss at 120.10

NASDAQ 100

Fig: NASDAQ 100 Technical charts

NASDAQ 100 has made higher highs and higher lows and is testing the upper band of the Bollinger bands on the daily charts. Currently, the market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 65.15. The MACD is above the signal line. The market is expected to trade in the positive zone for the day.

Trade suggestion:

Buy limit at 7138, Take profit at 7167, Stop loss at 7110