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Forex Pivot Points & Technical Analysis 07.08.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0920$ with targets at 1.0930$ next 1.0945$ in extension.

Alternatively, Short positions below the daily pivot point 1.0920$ with targets at 1.0910$ next 1.0895 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1000, 1.1115, 1.1135, 1.1220, 1.1285, 1.1350

Support: 1.0845, 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5540$ with targets at 1.5610$ next 1.5710$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5540$ with targets at 1.5440$ next 1.5365$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5550, 1.5690, 1.5815, 1.5930, 1.6000

Support: 1.5440, 1.5330, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9810 with targets at 0.9850 next 0.9890 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9810 with targets at 0.9770 next 0.9725 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9865, 0.9900, 0.9970, 1.0000

Support: 0.9720, 0.9635, 0.9595, 0.9520, 0.9405, 0.9350

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 124.55 with targets at 125.20 next 125.65 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.55 with targets at 124.15 next 123.50 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 125.05, 125.80, 126.00

Support: 124.45, 123.50, 123.00, 122.40, 121.90

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3135 with targets at 1.3180 next 1.3240 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3135 with targets at 1.3075 next 1.3030 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.3215, 1.3310

Support: 1.3090, 1.3050, 1.2930, 1.2855, 1.2820, 1.2645, 1.2565

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7345 with targets at 0.7430 next 0.7515 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7345 with targets at 0.7260 next 0.7175 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7450, 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7325, 0.7230, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6530 with targets at 0.6575 next 0.6610 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6530 with targets at 0.6495 next 0.6455 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6600, 0.6695, 0.6740, 0.6770, 0.6815, 0.6860

Support: 0.6485, 0.6380, 0.6320, 0.6275

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars. 

The Daily Analysis brought to you by Billionaire Forex UK in collaboration with STOCK. 

The Week Ahead 26.10.2015

Binary traders have a busy week ahead as major companies publish their Earnings reports and the important rate decision this Wednesday.

The main day to trade stocks will tomorrow, Tuesday the 27th of October as Apple, Alibaba and Twitter will publish their reports.

Investors should pay attention to the amount of iPhones sold in the last quarter as the main number to beat for Apple. The company is estimated to report revenue of $51billion. Alibaba has dropped strongly in the past few months following Chinese volatility. Revenue expected to be $3.36billion and EPS of $3.43.

Twitter has been on a strong decline since last earnings as the company disappointed investors with low user growth. Revenue is expiated to be $550million.

Gold will be the asset to trade on Wednesday 18:00 PM GMT. The Federal Reserve is expected to keep rates at zero following the same decision on September 17th. Markets are pricing the possibility of a surprising rate rise at a 5% chance.

Binary traders will look at Gold as the main asset to trade and the U.S dollar in general. 

Daily Market Review 24.08.2015

STOCKS 

Apple Slides into Bear Territory: On Friday, the stock of Apple Inc. (AAPL, -6.12%) dropped 5.9 percent and as such, the tech giant slid into bear market territory for the first time in over 2 years. Apple’s stock closed at $106.05 a share which was 20.3% below the company’s record close of $133 which it reached on the 23rd of February. A bear market can be defined as a decline of 20 percent or more from a significant peak. According to FactSet, during the recent decline of Apple’s stock price, the company has lost $153.69 billion in market capitalization. Apple was last in a bear market when it dropped 44 percent from the split-adjusted closing peak of $100.30 which it reached on the 19th of September 2012 to the close of $55.79 which it reached at the close of trading on the 19th of April 2013. On Friday last week, Apple shares slid into bear territory after the share price dropped more than 21% from the high of $134.54 which it reached on the 28th of April. Apple has now joined 9 other components on the Dow Jones Industrial Average (DJIA) which are already in bear market territory such as IBM, Exxon, Proctor & Gamble, Chevron, Wal-Mart, Caterpillar and DuPont.

INDICES

In U.S. trading on Friday, stocks traded lower sending the Dow Jones Industrial Average (DJIA) into correction territory. This decline came about as a result of investor fears regarding the economy in China as well as economic growth globally and as a result, a heavy selloff was prompted. On Friday, the main benchmark indices posted massive one-day selloffs as well as their biggest weekly declines in nearly 4 years. At the close of trading, the DJIA declined 3.1%, or 530.94 points, to 16,459.75. This left the blue chip index more than 10% down from its record close in May. As a result, the index reached a correction and for the week, the Dow declined 5.8 percent which marked the steepest decline since September 2011. Also on the downside was the Nasdaq Composite index (COMP) which dropped 3.5%, or 171.45 points, to 3.5%. For the week, the tech heavy index declined 6.8% which marked the biggest weekly decline since August 2011. Following the downward trend was the S&P 500 index (SPX) which declined 3.2%, or 64.84 points, to 1,970.89. This declined pushed the SPX below 2,000 for the first time since February and losses were led by technology, energy and consumer discretionary stocks. For the week, the S&P 500 declined 5.8 percent which marked the steepest decline since September 2011 while the main benchmark also wiped out $1.1 trillion of its market value over the week.

CURRENCIES

In currency trading on Monday, the safe haven Japanese yen (JPY) gained. This came after the Shanghai Composite index declined while uncertainty regarding further monetary easing in China remains. The USD/JPY traded down 0.97%, at 120.87 while the AUD/USD traded down 1.29%, at 0.7218. Meanwhile, the EUR/USD traded at 1.1486, up 0.90 while the NZD/USD traded down 1.32% at 0.6597. The Nikkei 225 was down 3.21% while the Shanghai Composite index fell more than 7%. Also on the downside was the S&P/ASX 200 which eased 3.14% while the Hang Seng index in Hong Kong was off 3.65%. Last week, the U.S. dollar declined by more than 1% against the euro and the Japanese yen. This came after weak factory data from China added to concerns regarding a slowdown in global growth which also then added to concerns that the Federal Reserve may delay hiking interest rates. Meanwhile, the U.S. dollar index traded steady at 94.84.

COMMODITIES

In early Asian trading on Monday, crude oil prices dropped sharply. This came as investors shifted their focus to China, with the Shanghai Composite down more than 7 percent. WTI crude oil for delivery in October traded at $39.57 a barrel, down 2.18%, on the New York Mercantile Exchange. Later today, the President of the Federal Reserve Bank of Atlanta, Dennis Lockhart, is expected to speak and his comments will be closely watched. Meanwhile, on the ICE Futures Exchange in London, Brent crude for delivery in October traded at $45.46, down 2.49%, or $1.16 for the day. During the trading session, the contract dropped to a session low of $45.07 a barrel which marked the weakest level since March 2009. For the week, London-traded Brent futures lost 7.58% or $3.30 which marked the 8th straight weekly decline.

The Daily Market Review brought to you by Billionaire Forex UK in collaboration with STOCK. 

Daily Market Review 21/8/2015

STOCKS

Netflix Shares Decline on Uncertainty: On Thursday, the shares of Netflix Inc. (NFLX, -7.83%) declined by as much as 8.3 percent. This drop came about as other stocks in the media sector also saw declines. The downward trend was led by the Walt Disney Co. (DIS, -5.98%) whose shares decreased by 5% while the shares of CBS Corp. (CBS, -3.74%) also dropped by more than 4 percent. According to Rich Greenfield, an analyst from BTIG who is bullish about Netflix, the provider of on-demand Internet streaming media is currently being dragged down by the entire media sector. Greenfield stated that there has been a fundamental shift in the media sector with regards to the behaviors of consumers. He went on to explain that it is evident that the market now understands that traditional media companies are simply not prepared for this shift. Other declines were seen with DISH Network Corp. (DISH, -4.34%) shares which dropped more than 3%, Viacom Inc. (VIAB, -5.43%) shares fell 4%, Time Warner Inc. (TWX, -4.03%) shares declined 3% while the shares of AMC Networks Inc. (AMCX, -3.68%) also moved down by 3 percent. These declines come only 2 weeks after there was a major selloff in the media industry. This selloff was prompted by a lack of confidence among investors as a result of the poor earnings reports released which made it quite clear that consumers are now moving away from traditional forms of media. On the upside, Greenfield stated that as Netflix is being pulled down, this is an ideal time to buy shares in the company. To put it into perspective, the shares of Netflix have increase by more than 120 percent in the year to date. In comparison, over the same period, the S&P 500 index (SPX) has declined 0.22%.

INDICES

In U.S. trading on Thursday, stocks traded lower. This decline was led by a major selloff in consumer, financial, technology as well as media stocks while concerns regarding a slowdown in global growth also weighed on stock prices. As a result of this, the CBOE Volatility index (VIX, +18.82%) jumped and over the past 3 trading days, we have seen a gain of more than 38% to 17.75 in the index. As investors sought safe havens, gold and Treasuries rallied. At the close of trading, the S&P 500 index (SPX) declined 1.5%, or 31 points, to 2,048.27. This benchmark index has now turned negative for the year and is also trading below its 200-day moving average. This could be a key indication of a larger pullback. Also on the downside was the Dow Jones Industrial Average (DJIA) which dropped 1.5%, or 267.31 points, to 17,081.65. Meanwhile, the tech heavy Nasdaq Composite index (COMP) also declined 2.2%, or 111.03 points, to 4,908.88. The index’s heaviest-weighted member Apple Inc. (AAPL, -2.17%) also slid by 2 percent.

CURRENCIES

On Thursday, the U.S. dollar traded lower. This came after data released showed that the number of individuals who filed for unemployment assistance rose last week to 277,000, up 4,000. In a separate report, data showed that existing home sales in July rose to the highest level in 8 years in July. Also on the upside was the manufacturing activity in the Philadelphia region which grew at a faster than expected rate in August. Wednesday’s FOMC minutes showed that Fed officials believe the economy is nearing the point where interest rates should move higher, yet they did state that the subdued inflation outlook and weakness in the global economy could still pose risks to the U.S. economic outlook. The EUR/USD traded at 1.1192, up 0.67% while the GBP/USD traded at 1.5671, holding below Tuesday’s 7-week peak of 1.5716. Against the New Zealand and Canadian dollars, the U.S. dollar traded lower with the NZD/USD up to 0.6625 while the USD/CAD traded at 1.3098, down 0.22%. Also, the US dollar index was at 96.01, down 0.43%.

COMMODITIES

In early Asian trading on Friday, crude oil prices declined moving below $41 a barrel. This came after disappointing data was released from China which negatively impacted demand prospects. The Caixin China Manufacturing PMI flash declined to a 77-month low at 47.1. This missed expectations for a reading of 47.7 for August. Also, for August, the Nikkei Japan PMI Manufacturing survey dropped to 51.9. WTI crude oil for delivery in October traded at $40.89 a barrel on the New York Mercantile Exchange. Meanwhile, on the Intercontinental Exchange (ICE) in London, Brent crude for delivery in October closed at $46.53, down 1.34%, or $0.63. The current spread between the U.S. and international benchmarks of crude is at 5.34.

The Daily Market Review brought to you by Billionaire Forex UK in collaboration with STOCK. 

Forex Pivot Points & Technical Analysis 11.08.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0995$ with targets at 1.1060$ next 1.1110$ in extension.

Alternatively, Short positions below the daily pivot point 1.0995$ with targets at 1.0945$ next 1.0875 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1040, 1.1115, 1.1135, 1.1220, 1.1285, 1.1350

Support: 1.0895, 1.0845, 1.0805, 1.0720, 1.0660, 1.0520

 GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5550$ with targets at 1.5640$ next 1.5700$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5550$ with targets at 1.5490$ next 1.5400$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5610, 1.5690, 1.5815, 1.5930, 1.6000

Support: 1.5455, 1.5425, 1.5330, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9845 with targets at 0.9885 next 0.9930 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9845 with targets at 0.9795 next 0.9755 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9900, 0.9970, 1.0000

Support: 0.9720, 0.9635, 0.9595, 0.9520, 0.9405, 0.9350

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 124.60 with targets at 125.10 next 125.60 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.60 with targets at 124.10 next 123.60 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 125.10, 125.80, 126.00

Support: 124.05, 123.50, 123.00, 122.40, 121.90

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3060 with targets at 1.3135 next 1.3260 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3060 with targets at 1.2940 next 1.2860 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.3105, 1.3215, 1.3310

Support: 1.2985, 1.2930, 1.2855, 1.2820, 1.2645, 1.2565

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7390 with targets at 0.7445 next 0.7480 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7390 with targets at 0.7355 next 0.7300 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7450, 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7305, 0.7230, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6590 with targets at 0.6655 next 0.6705 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6590 with targets at 0.6545 next 0.6480 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6650, 0.6695, 0.6740, 0.6770, 0.6815, 0.6860

Support: 0.6525, 0.6485, 0.6380, 0.6320, 0.6275

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars. 

The Daily Analysis brought to you by Billionaire Forex UK in collaboration with STOCK. 

Daily Market Review 10.08.2015

STOCKS

On Monday, the 10th of August, all eyes will be on the casual restaurant chain, Shake Shack Inc. (SHAK, +10.81%) which is expected to report second quarter earnings. Analysts are expecting the company to announce earnings per share of $0.03 on revenue of $42.80 million for the quarter. This will be slightly down on the $0.04 EPS the company reported in the first quarter. For the same period, the company reported revenue of $37.80 million. On average, analysts also expect Shake Shack to post earnings per share of $0.13 for the current fiscal year and $0.16 EPS for the next fiscal year. On Friday, Shake Shack shares opened at $71.64 a share and this put the company’s market capitalization at $863.84 million. The company also has a 1-year low of $38.63 and a 1-year high of $96.75. Interestingly, on the 14th of June, Zacks lowered their rating on Shake Shack from a buy to a hold. In addition, on the 9th of July, Goldman Sachs downgraded Shake Shack from a neutral rating to a sell rating and they also set the price target for the company at $37.00. Another downgrade was also done by Morgan Stanley from an equal weight rating to an underweight rating with a price target of $38.00. Shake Shack Inc. owns and operates restaurants located in the U.S. These Shack restaurants are well known for being roadside burger stands which serve traditional American food such as hot dogs, burgers, fries, shakes as well as wine and beer. Today there are 63 Shacks located all around the world with 31 located in the U.S. itself. The big question is will Shake Shack serve top earnings on Monday?

INDICES

On Friday, U.S. stocks closed lower. In addition, the Dow Jones Industrial Average (DJIA) hit its worst losing streak since 2011 of seven straight days of losses and this was prompted by the average jobs report which missed analysts’ expectations. As a result, investors still expect the Federal Reserve to increase interest rates as early as September this year. According to the nonfarm-payrolls report released on Friday, in July, the U.S. gained 215,000 jobs. Also, the unemployment rate remained unchanged at 5.3 percent. At the close of trading, the DJIA dropped 0.3%, or 46.37 points, to 17,373.38. This blue chip index was down by 141 points earlier in the session and this current losing streak has cut almost 380 points off the index for a loss of 2.1 percent. For the week, this index lost 1.8%. Also on the downside was the Nasdaq Composite Index (COMP) which declined 0.3%, or 12.90 points, to 5,043.54, losing 1.7% off the week while the S&P 500 index (SPX) finished 0.3%, or 5.99 points, lower at 2,077.57. This index was off 1.3 percent for the week.

CURRENCIES

On Friday, the U.S. dollar erased gains. This came as investors locked in profits after the non-farm payrolls data was released on Friday. According to the Labor Department, in July, the U.S. economy added 215,000 jobs which missed expectations for an increase of 223,000. In addition, data also showed that the average hourly earnings in the U.S. rose 0.2% in July. This was also in line with expectations. The EUR/USD traded steady at 1.0931 while the GBP/USD traded at 1.5475, down 0.24%. Against the currencies in Japan, Canada and Switzerland, the greenback traded mixed with the USD/JPY down 0.32% at 124.32, the USD/CAD down 0.31% at 1.3069 while the USD/CHF rose 0.21% to trade at 0.9828. Also, the Australian dollar traded higher than the USD with AUD/USD at 0.7400, up 0.75%. The U.S. dollar index was at 97.72, down 0.14 percent.

COMMODITIES 

Crude oil prices continued to decline on Monday in early Asian trading. This came after disappointing trade data was released out of China on the weekend which prompted demand concerns among investors. According to data released by the government on Sunday, for July, Chinese inflation rose 1.6%. This was above expectations for an increase of 1.5%. Also the PPI (producer price index) declined by more than expected in July, down 5.4%. In addition, on Saturday, data showed that China’s trade surplus narrowed in June to $43.0 billion from $46.5 billion in June. WTI crude oil for delivery in September traded at $43.68 a barrel, down 0.44%, on the NYMEX. Brent crude oil for September delivery traded at $48.61 a barrel, down 1.84%, or $0.91, on the ICE Futures Exchange in London.

The Daily Market Review brought to you by Billionaire Forex UK in collaboration with STOCK. 

Daily Market Review 06.08.2015

STOCKS

On Wednesday, after the close of trading, Tesla Motors Inc. (TSLA, -5.60%) reported second quarter earnings and yes, the electric car maker did impress. The results beat expectations by Wall Street yet Tesla lowered its deliveries guidance for the year. Tesla reported a quarterly loss of 48 cents per share on $1.20 billion in adjusted revenue. According to a consensus estimate from Thomson Reuters, Tesla was expected to report a loss of 60 cents per share on $1.18 billion in revenue. In addition, the company lowered its full-year delivery guidance. In May this year, Tesla had stated that they expect about 55,000 sales for its Model X and its Model S combined yet yesterday, this number was reduced to "between 50,000 and 55,000." In the shareholder letter released on the day, Tesla explained that while the final stages of testing and equipment installation of their Model X is going well, there are a wide variety of dependencies which could impact their deliveries as well as their production in the fourth quarter. This could come about since the Model X and the Model S are produced on the same product line and with the current challenges facing Tesla on their Model X production, this could negatively impact the production of the Model S. In after-hours trading, Tesla shares declined by more than 7%. These losses were later pared. Since January this year, Tesla shares have gained 21 percent which is ten times more than the S&P 500 index (SPX) over the same period. Tesla is currently trading at $270.13 a share.

INDICES

On Wednesday, U.S. stocks closed mostly higher. Despite this advance, the Dow Jones Industrial Average (DJIA) was negatively impacted by the weak performance by energy shares as well as by Disney. In early trading, the main benchmark indices declined after a weaker than expected reading on private payroll growth. This prompted concerns among investors regarding the timing of an interest rate hike by the Federal Reserve. In a separate report, the service sector reading surged to a 10-year high last month, which indicated a growing economy. During the trading session, the DJIA experienced volatility, moving between losses and gains. Early in the session, the blue chip index was down by nearly 58 points after being up almost 111 points. At the close of trading, the DJIA declined 10.22 points to 17,540.47. On the upside was the S&P 500 index (SPX) which advanced 0.3%, or 6.52 points, at 2,099.84. This index was up 19 points intraday. Also on the upside was the Nasdaq Composite index (COMP) which rose 0.7%, or 34.40 points, to close at 5,139.94. This tech heavy index was up nearly 70 points intraday.

CURRENCIES

On Wednesday, the U.S. dollar traded higher. This came after data showed that in July, the service sector activity in the U.S. grew at the fastest pace since August 2005. According to the ISM (Institute of Supply Management), its non-manufacturing PMI (purchasing manager's index) rose from 56.0 in June to 60.3 in July. This beat expectations for a reading of 56.2. In a separate report, ADP, the payroll processing firm, reported that in July, non-farm private employment rose by 185,000. This missed expectations for an increase of 215,000. In addition, the Bureau of Economic Analysis in the U.S. reported that the trade deficit widened from $40.94 billion in May to $43.84 billion in June. The EUR/USD traded at 1.0865, down 0.15%, while the GBP/USD traded at 1.5620, up 0.37%. Against the Swiss franc, the Canadian dollar and the Japanese yen, the U.S. dollar traded mixed with the USD/CHF up 0.27% at 0.9810, the USD/CAD down 0.29% at 1.3153 while the USD/JPY gained 0.40% to trade at 124.88. The U.S. dollar index was at 98.19, up 0.15%.

COMMODITIES

In Asian trading on Thursday, crude oil prices rebounded. This came as investors shifted their focus on to the continued oversupply in the global market. WTI crude oil for delivery in September traded at $45.19 a barrel, up 0.20%, on the NYMEX. On Monday this week, Texas Long Sweet futures declined about 4 percent to trade at approximately $45 a barrel. This marked the lowest level since the middle of March this year. Over the last month, U.S. crude futures have sharply fallen by more than 20 percent. Meanwhile, on Wednesday, Brent crude oil for delivery in September traded at $49.49 a barrel on the Intercontinental Exchange (ICE) in London. The spread between the U.S. and international crude benchmarks of crude stood at $4.46.

The Daily Market Review brought to you by Billionaire Forex UK in collaboration with STOCK. 

Daily Market Review 05.08.2015

STOCKS

Since their market debut in June this year, Fitbit Inc. (FIT, +0.53%) has done nothing but impress and so, all eyes will be on this wearable fitness-tracker company when they report their earnings when the market closes on Wednesday. According to analysts surveyed by FactSet, Fitbit is expected to report sales of $319 million which is a lot lower than the consensus from Estimize at $329.94 million. In addition, the company is expected to report earnings of 9 cents a share while the Estimize consensus is at 12 cents earnings per share. Let’s take a look at the facts. On the 18th of June, Fitbit went public. On that same day, the company’s share price skyrocketed 55 percent. The shares were originally priced at $20 and in the past month, we have seen an increase of 19 percent. Fitbit shares are now trading at $49.28 each. Investors will also be analyzing and looking out for the enthusiasm which was evident at Fitbit’s IPO as this should be clearly evident in their gross margin, sales momentum and outlook. While the company is currently facing lawsuits from Apple (AAPL, +0.10%), which has now stepped in as a competitor, as well as from Jawbone, Fitbit seems to be racing ahead and it seems that this company has managed to push itself into first place in the fitness and wearable sector. According to analysts at Stifel, the release of the Apple Watch has not seemed to have any major impact in the dedicated fitness category, leaving the path open for the likes of Fitbit. In addition, Stifel analysts forecast that the 2nd quarter earnings report from Fitbit will include the number of paid active users as well as the details of the number of units sold. The majority of the sales will also likely consist of Fitbit’s Charge HR product, which is a heart-rate tracking and fitness wristband. Production of the Charge HR has increased since it was released earlier this year which should boost Fitbit’s full-year outlook as well.

INDICES

On Tuesday, U.S. stocks traded lower. The main indices were pushed off their session lows after one Federal Reserve president indicated that a hike in interest rates is likely in September as long as there is no significant deterioration in the economy. At the close of trading, the S&P 500 index (SPX) declined 0.2%, or 4.72 points, to 2,093.32. This came after the index was down as much as 9 points during the trading session. Also on the downside was the Nasdaq Composite Index (COMP) which lost 0.2%, or 9.84 points, to close at 5,105.55. This tech heavy index was down as many as 23 points during the trading session. Also, the Dow Jones Industrial Average (DJIA) dropped 0.3%, or 47.51 points, at 17,550.69. This blue chip index was down nearly 93 points intraday. One of the poorest performers of the day was Apple Inc. (AAPL, -3.21%) whose shares closed down 3.8%.

CURRENCIES

On Tuesday, the U.S. dollar (USD) trimmed losses. This came after data showed that factory orders in the U.S. in June rose in line with expectations while investors have now shifted their attention to the release of U.S. nonfarm payrolls on Friday. The Census Bureau in the U.S. reported on Tuesday that factory orders increased by 1.8% in June. The EUR/USD traded steady at 1.0952 while the GBP/USD traded at 1.5572, down 0.08%. Against the Swiss franc, the Canadian dollar and the Japanese yen, the U.S. dollar traded mixed with the USD/CHF up 0.33% at 0.9724, the USD/CAD down 0.10% at 1.3142, while the USD/JPY traded steady at 124.03. Also, the U.S. dollar index was steady at 97.39.

COMMODITIES

In Asian trading on Wednesday, crude oil prices rose slightly. This came after a U.S. industry survey showed sharp declines in the crude and gasoline stocks as of last week. According to the weekly report by the API (American Petroleum Institute), for the week ended 31 July, crude stocks dropped by 2.4 million barrels, while gasoline supplies declined by 1 million barrels and distillates increased by 1.7 million barrels. WTI crude oil for September delivery traded at $45.88 a barrel, up 0.05%, on the NYMEX. Also, on Monday, Brent crude oil for delivery in September traded at $50.00 a barrel, up 0.97%, or $0.48, on the Intercontinental Exchange (ICE) in London. 

The Daily Market Review brought to you by Billionaire Forex UK in collaboration with STOCK. 

Forex Pivot Points & Technical Analysis 04.08.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0995$ with targets at 1.1070$ next 1.1190$ in extension.

Alternatively, Short positions below the daily pivot point 1.0995$ with targets at 1.0875$ next 1.0800 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1135, 1.1220, 1.1285, 1.1350, 1.1470

Support: 1.0890, 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5605$ with targets at 1.5660$ next 1.5735$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5605$ with targets at 1.5530$ next 1.5475$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5690, 1.5815, 1.5930, 1.6000, 1.6185

Support: 1.5530, 1.5440, 1.5330, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9670 with targets at 0.9715 next 0.9740 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9670 with targets at 0.9655 next 0.9620 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9720, 0.9755, 0.9865

Support: 0.9635, 0.9595, 0.9520, 0.9405, 0.9350, 0.9230, 0.9150

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.95 with targets at 124.35 next 124.80 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.95 with targets at 123.50 next 123.10 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80

Support: 123.50, 123.00, 122.40, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3140 with targets at 1.3195 next 1.3225 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3140 with targets at 1.3110 next 1.3060 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.3175, 1.3200, 1.3310

Support: 1.3105, 1.3050, 1.2930, 1.2855, 1.2820, 1.2645, 1.2565

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7290 with targets at 0.7350 next 0.7425 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7290 with targets at 0.7215 next 0.7160 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7370, 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7230, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6590 with targets at 0.6645 next 0.6730 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6590 with targets at 0.6510 next 0.6450 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6695, 0.6740, 0.6770, 0.6815, 0.6860

Support: 0.6535, 0.6485, 0.6380, 0.6320, 0.6275

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars. 

The Daily Analysis brought to you by Billionaire Forex UK in collaboration with STOCK.