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Daily Market Analysis by CapitalStreetFX - Page 50


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  1. #491
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    Daily Report on January 18, 2017



    European equities opened higher while Asian stock markets stabilized near three-month highs on Wednesday, pushed higher by Hong Kong and Chinese shares. The MSCI's ex-Japan Asia-Pacific shares index advanced 0.4 percent, just shy of a three-month high hit last Thursday. Hong Kong’s Hang Seng rose 1.2 percent and continued its run to the highest level since November. Meanwhile, Tokyo shares erased losses as yen retreated.

    Gold and Japanese yen lost ground for the first time in eight trading session although the U.S. dollar remained weak. The greenback fell against most peers after president-elect Donald Trump told the Wall Street Journal that the dollar is “too strong” while China holds down its own currency. Chinese shares gained amid speculation of state efforts to ensure market stability during President Xi Jinping’s appearance at the World Economic Forum in Davos.

    The pound witnessed its biggest daily advance against the dollar since the global financial crisis on Tuesday, after Prime Minister Theresa May said U.K. lawmakers will get a vote on the final deal for an exit from the trading bloc. In a highly anticipated speech on Tuesday, PM May planned out the government’s Brexit strategy which involves pulling out of the EU’s single market.

    The U.S. Energy Information Administration on Tuesday said that U.S. shale production was set to snap a three-month decline in February. Due to the fact that energy firms have been boosting drilling activity with crude prices hovering near 18-month highs, February production is forecast to edge up 40,750 barrels per day (bpd) to 4.748 million bpd, marking the first month-on-month increase in production since October.

    In New Zealand, overall prices in the latest Global Dairy Trade (GDT) auction rose for the first time in three auctions. The index gained 0.6% to $3,517 following a 3.9% decline in the first auction of 2017, broadly in line with consensus expectations of a slight improvement.



    Technicals

    AUDCAD



    Fig: AUDCAD H4 Technical Chart

    AUDCAD has been swinging back and forth around the 50.0% Fibonacci since Tuesday, despite support from short-term MA20. As indicated by RSI index, buyers are overwhelming in the market, which may help the pair break out of the current trading range to surge higher.

    Trade suggestion

    Buy Stop at 0.98800, Take profit at 0.99200, Stop loss at 0.98600



    EURNZD



    Fig: EURNZD H4 Technical Chart

    EURNZD has fallen back below the support at 1.48500 after brief correction. The pair looks set to extend its downtrend with bearish force reigning in the market. While RSI is heading towards the oversold zone, ADX index is edging higher, suggesting strong sellers.

    Trade suggestion

    Sell Stop at 1.48300, Take profit at 1.47700, Stop loss at 1.48600



    WTI



    Fig: WTI H4 Technical Chart

    WTI crude prices have breached the support at 52.30 and also returned to the trading range formed by lower highs and lower lows. The price action has crossed over the moving averages from above, indicating a reversal into a down trend. The support at 51.50 is within the sight.

    Trade suggestion

    Sell Stop at 52.00, Take profit at 51.50, Stop loss at 52.25



    EURO 50 Index



    Fig: EURO 50 Index H4 Technical Chart

    Euro 50 Index opened higher but soon pared all of its gains in early trade to head lower. It seems like the index failed to resist the resistance at 3300.00 and two MAs that are hanging above the price action. The stock benchmark may find its support at 3260.00.

    Trade suggestion

    Sell Stop at 3280.00, Take profit at 3260.00, Stop loss at 3290.00

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  2. #492
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    CSX Shares Plunge After Company’s EPS Misses Q4 Earnings

    Shares of CSX Corp. plummeted nearly 4% late Tuesday after the No. 3 U.S. railroad reported fourth-quarter earnings that missed expectations.

    The Jacksonville, Florida-based company said it earned $458 million, or 49 cents a share, in the quarter, compared with $466 million, or 48 cents a share one year ago. CSX reported fourth-quarter sales of $3.04 billion, beating $2.78 billion in the year-ago period. However, analysts forecast the company’s adjusted earnings of 50 cents a share on sales of $2.88 billion.

    Coupled with low commodity prices and strength in the U.S. dollar in 2016, higher costs for labor, materials and fuel were also headwinds that caused CSX’s profit to dip compared with a year earlier.

    Trade suggestion

    Sell Stop at 36.58, Take profit 35.50, Stop loss at 37.00

    Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


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  3. #493
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    GBP/USD signal by Capital Street FX

    From GMT 07:00 18/01/2017
    Till GMT 21:00 18/01/2017

    Buy at 1.23500
    Take profit at 1.24100
    Stop loss at 1.23200

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    Benefit from 0 Pips on the majors, 200% Bonus, 1:1000 Leverage, 10% Stop Out and 100% Risk Free Trades. Open your account. Deposits starting from as little as $100 and tradaeble bonuses up to 200%.

    Join our IB program and earn upto 75% CPA commission and upto $20 per lot

    Get in touch with us today and start withdrawing profit.

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