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.

Daily Market Review 03.08.2015

STOCKS 

As the richest and the biggest oil company in the U.S., you would expect nothing less than impressive earnings results from Exxon Mobil Corp. (XOM, -4.48%). However, this wasn’t the case when the oil giant reported a decline of 52 percent in profits for the second quarter. Unfortunately for Exxon, the company was unable to offset the higher profits seen in its chemical and refining operations against the declining earnings in its production and exploration business which came about as a result of the lower crude prices. Over the past year, the shares of Exxon Mobil have declined 16 percent. After the company reported earnings, their share price traded at $81.50, down 1.8% in premarket trading. Thanks to Exxon’s chemicals and downstream divisions, the company’s profits were boosted as a result of the low oil and gas prices. In fact, in the 1st quarter, these divisions made nearly as much profit as Exxon makes from pumping gas and oil. For the second quarter, downstream or marketing and refining earnings more than doubled from last year. That is, up from $711 million a year ago to $1.51 billion. On the other side, upstream profits, or profits from Exxon’s production and exploration business, declined to $2.03 billion, down 74%. On the upside, Exxon's production improved by 3.6 percent to 4 million oil-equivalent barrels per day. Also on the upside were Exxon’s chemical segment earnings which increased 48% to $1.25 billion. Margins were boosted as a result of lower feedstock costs. In summary, Exxon’s revenue declined to $74.11 billion, down 33% for the 2nd quarter while the company reported a profit of $4.19 billion, or $1 a share. This was down from $8.78 billion, or $2.05 a share, reported in the same period a year ago. Exxon is currently trading at $79.29 a share.

INDICES 

Despite a roller-coaster month, U.S. stocks ended the week and the month of July with modest gains. On Friday though, stocks traded lower. This came in response to a decline in the energy sector which outweighed modest gains seen in other sectors. As a result of a decline in the earnings of energy giants Chevron and Exxon Mobil, there was a large sell off of energy stocks, which negatively impacted all the main equity benchmarks. At the close of trading, the S&P 500 index (SPX) dropped 0.2%, or 4.71 points, to 2,103.90. For the week, the index was up 1.2% while for the month of July, the SPX gained 2 percent. Meanwhile, the Nasdaq Composite index (COMP) ended the trading session on Friday less than a point lower at 5,218.28. Over the week, the tech-heavy index rose 0.8% and 2.9 percent over the month of July. Following the trend was the Dow Jones Industrial Average (DJIA) which declined 0.3%, or 55.32 points, to 17,690.66 on Friday. For the week, the blue chip index gained 0.7% and for the month, the Dow gained 0.4%.

CURRENCIES

On Friday, the U.S. dollar (USD) traded lower. This came as a result of the release of poor economic reports out of the U.S. which prompted concerns regarding the timing of an interest rate hike by the Federal Reserve. In their preliminary report, the University of Michigan said that its index of consumer sentiment dropped from 93.3 in June to 93.1 in July. This missed expectations for an increase to 94.0. Meanwhile, the Labor Department also reported that the employment costs in the U.S. increased by 0.2% which marked the lowest gain since 1982. Also, data showed that the Chicago PMI (purchasing managers' index) rose from 49.4 in June to 54.7 in July, marking a move into expansion territory for the first time since April. The EUR/USD traded at 1.1080, up 1.35% while the USD/JPY traded at 123.72 down 0.33%. Against the British pound, the Australian dollar and the Swiss franc, the U.S. dollar traded lower with the GBP/USD up 0.18% at 1.5628, the AUD/USD up 0.67% at 0.7342 and with the USD/CHF down 1.33% and trading at 0.9563. The U.S. dollar index was at 96.67, down 0.97%.

COMMODITIES 

In Asian trading on Monday, crude oil prices declined. This came in response to a disappointing manufacturing survey from China. The manufacturing PMI from Japan came in at 51.4 for July while for China, it came in at 51.2. Also, the final Caixin/Markit for July declined to 47.8. WTI crude oil for September delivery traded at $46.80 a barrel, down 0.70%, on the NYMEX. Also, last week, crude oil futures declined sharply on Friday to cap the worst monthly performance in July since the 2008 global financial crisis. On Friday, Brent crude oil for delivery in September traded at $52.21 a barrel, down 2.06%, or $1.10, on the ICE Futures Exchange in London. During the trading session, the contract declined to a session low of $51.63 a barrel, a level which was last seen at the end of January this year.

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

Forex Pivot Points & Technical Analysis 31.07.2015

 

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

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.

EURUSD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 1.0940$ with targets at 1.0985$ next 1.1030$ in extension.

Alternatively, Short positions below the daily pivot point 1.0940$ with targets at 1.0895$ next 1.0845 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 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 1.5600$ with targets at 1.5640$ next 1.5680$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5600$ with targets at 1.5565$ next 1.5525$ 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 0.9690 with targets at 0.9710 next 0.9740 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9690 with targets at 0.9665 next 0.9645 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 124.20 with targets at 124.45 next 124.85 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.20 with targets at 123.80 next 123.55 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80

Support: 123.75, 123.55, 123.00, 122.40, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3000 with targets at 1.3050 next 1.3095 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3000 with targets at 1.2955 next 1.2905 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.3055, 1.3105, 1.3125, 1.3200

Support: 1.2930, 1.2855, 1.2820, 1.2645, 1.2565, 1.2500, 1.2420

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7290 with targets at 0.7330 next 0.7360 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7290 with targets at 0.7260 next 0.7220 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7350, 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7250, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6610 with targets at 0.6650 next 0.6700 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6610 with targets at 0.6560 next 0.6520 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6655, 0.6740, 0.6770, 0.6815, 0.6860

Support: 0.6550, 0.6485, 0.6380, 0.6320, 0.6275 

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

Market Commentary 30.07.2015

STOCKS

Tesla Motors Inc. (TSLA, -0.38%) is giving away money. On Wednesday, the electric car company announced that they will be introducing a referral program. That is, all new car buyers will receive $1,000 if they have used a referral link from a previous buyer. The new buyer of the Model S electric sedan, with a starting price of $70,000, will receive a reduction of $1,000 off the new car, accessories or services. This new referral program was unveiled by the Chief Executive of Tesla, Elon Musk, during a conference call. Let’s put it into perspective. Tesla spends approximately $2,000 in order to sell a car through its stores. The aim now is to boost ‘word of mouth’ and in this way, Musk is hoping that this will reduce the need to open new stores in the future. Musk stated during the call that while Tesla is planning on opening new stores, they are hoping that their latest referral program will assist them in reducing the number of these stores. In addition, Elon Musk stated that the referral program can be viewed as part of Tesla’s “guerrilla battle" with other car dealers. Today, Tesla does not use car dealerships in order to sell their cars and this is done instead by the company directly to customers. The problem however is that in some states, such as West Virginia and Texas, Tesla is not able to do this. The new referral program will provide existing Tesla car owners the ability to give their friends a $1,000 discount and in addition, if someone provides 5 referrals, the original car owner will be invited to visit and tour the "gigafactory" of Tesla which is located outside Reno, Nevada and will also be invited to attend the grand opening party. Should a customer refer 10 new buyers, they will be entitled to purchase the Founder Series Model X, which is currently not available to the public. All options will be provided free of charge in the new car. In addition, the customer who reaches 10 referrals first, will receive the Founder Series Model X free of charge. Interestingly, the shares of Tesla declined after the unveiling of the referral program and they are currently trading at $263.82 a share. 

   
INDICES

On Wednesday, U.S. stocks closed higher. This came after Chairwoman, Janet Yellen, of the Federal Reserve provided no clear indication regarding the timing of an interest rate hike by the central bank. Yellen did however leave room to act as early as September this year. According to Yellen, this increase would be dependent on ‘solid’ gains in the jobs market. There was a unanimous vote among policy makers to maintain the current interest rate and it was made clear that the timing would be dependent on economic data out of the country. At the close of trading, the S&P 500 index (SPX) rose 0.7%, or 15.32 points, to 2,108.57. All 10 of the index’s sectors finished higher. This came in response to an increase in oil prices which boosted energy stocks while consumer discretionary and industrials stocks also advanced. Also on the upside was the tech heavy Nasdaq Composite index (COMP) which rose 0.4%, or 22.53 points, to 5,111.73 while the Dow Jones Industrial Average (DJIA) advanced 0.7%, or 121.12 points, to 17,751.39. This marked the 5th consecutive triple-digit move for the blue-chip index.

CURRENCIES

On Wednesday, the U.S. dollar (USD) traded higher. This came despite poor data on pending home sales in the U.S. in June after 5 months of increases. According to the National Association of Realtors, their index of pending home sales declined to 110.3, down 1.8% in June. This missed expectations for a gain of 1.0%. Despite the decline, it was still the 3rd highest reading this year. The EUR/USD traded at 1.1034, down 0.22% while the USD/JPY traded at 123.74, up 0.14%. Against the Canadian dollar, the Swiss franc and the British pound, the U.S. dollar traded mixed with the USD/CAD steady at 1.2926, the USD/CHF steady at 0.9625 while the GBP/USD was up 0.41% and trading at 1.5677. The U.S. dollar index was at 96.88, up 0.12 percent.

COMMODITIES

In Asian trading on Thursday, crude oil prices gained. This came in response to the positive assessment of economic growth prospects in the U.S. while investors digested the comments by the Federal Reserve with the expectation that an interest rate hike could take place this year. WTI crude for September delivery traded at $48.90 a barrel, up 0.23%, on the NYMEX. In addition, on Wednesday, Brent crude oil for delivery in September traded at $53.36 a barrel, up 0.11%, or $0.06, on the Intercontinental Exchange (ICE) in London. The spread between the international benchmark of crude stood at $4.61. 

  

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

Daily Market Review 29.07.2015

STOCKS 

Microsoft Launches Windows 10: Today is the day that Microsoft will try to jumpstart its Windows franchise as well as its falling PC sales with the introduction of their new product, Windows 10. The hopes are also that this new product will positively impact the company’s limited phone business. Let’s face it; the fact is Windows 8 was an attempt to redefine the way the Windows worked and looked. Unfortunately, the product did not get a warm reception and it is estimated that only 16% of global PC users make use of this software. Based on this, Microsoft has been determined to get it right with their latest product. The company distributed in-progress versions to companies for their feedback while developers of Windows-based business software were also involved in providing their input and feedback. The latest Windows 10 is said to resemble the older Windows 7 version which was released in 2009. Other features will include a voice-controlled Cortana intelligent assistant which has often been described as the company’s answer to Apple’s Siri, as well as a Start Menu. Interestingly, Microsoft has stated that Windows 10 will be the least release with a formal name and that it will now be treated as a ‘service’ which will have frequent updates. In case you are wondering if you should upgrade and jump in, many analysts are recommending waiting for a few months until the latest product is stable and reliable. Microsoft will be giving away Windows 10 as a free upgrade to users of the latest revisions of Windows 7 and Windows 8. This free offer will last for a year from today. If you are not one of the lucky ones, then you have the option of either buying a new PC or you can purchase Windows 10 starting at $119. Microsoft is currently trading at $45.34 a share.

INDICES

Tuesday saw a top performance by U.S. stocks which helped to break a 5-day losing streak in the main U.S. indices. Despite the slowdown in China’s stocks, better than expected earnings results sparked a brief rally on Wall Street. Investors have also now shifted their attention to the Federal Reserve and the policy statement by Chair Janet Yellen which is expected out today. At the close of trading, the Dow Jones Industrial Average (DJIA) advanced 1.1%, or 189.68 points, to 17,630.27. Twenty seven of the blue chip index’s 30 members finished higher with Exxon Mobil Corp. (XOM, +4.06%) rising 4.1%, while Chevron Corp. (CVX, +3.66%) also advanced 3.7%. Also on the upside was the S&P 500 index (SPX) which rose 1.2%, or 25.61 points, to 2,093.25. Gains were led by the energy sector which rose 3% in response to an increase in oil prices. Following the upward trend was the tech-heavy Nasdaq Composite Index (COMP) which advanced 1%, or 49.43 points, to 5,089.21. This increase came as a result of a sharp rise in biotechnology stocks and the iShares Nasdaq Biotechnology ETF (IBB, +2.48%) rose 2.5%.

CURRENCIES

On Tuesday, the U.S. dollar (USD) trimmed gains. This came after data showed a decline in the consumer confidence in the U.S. while the markets are also now focused on the conclusion of the Federal Reserve's policy meeting today. According to the Conference Board, in July, its index of consumer confidence declined to 90.9 from a reading of 99.8 in June. This missed analysts’ expectations for a reading of 100.0. The EUR/USD traded at 1.1051, down 0.33% while the USD/JPY traded at 123.55, up 0.25%. Against the British pound and the Swiss franc, the greenback traded mixed with the GBP/USD up 0.26% and trading at 1.5601 while the USD/CHF was up 0.20% and trading at 0.9647. The Australian dollar also traded higher against the U.S. dollar with the AUD/USD up 0.63% at 0.7314. Also, the U.S. dollar index was at 96.89, up 0.26 percent.

COMMODITIES

In Asian trading on Wednesday, crude oil prices declined. This came in response to the latest industry data on last week’s stocks of crude and refined products. According to the API (American Petroleum Institute), last week, crude stocks fell by 1.9 million barrels, while the stocks of distillate increased by 4.3 million barrels. Today, the EIA (Energy Information Administration) will provide their numbers on crude oil stockpiles for last week and expectations are that their data will also show a decline by 0.4 million barrels for the week ending on the 24th of July. WTI crude oil for September delivery traded at $47.73 a barrel, down 0.51%, on the NYMEX. Also, on Tuesday, Brent crude oil for delivery in September traded at $53.24 a barrel, down 0.43%, or $0.23, on the Intercontinental Exchange (ICE) in London.

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

Daily Market Review 28.07.2015

STOCKS 

If you haven’t already gotten your hands on the latest Apple Watch, you might be interested to know that soon you will be able to buy one from a Best Buy store. Last month, the tech giant started selling the latest smartwatch at its own stores and Apple (AAPL, -1.34%) has now announced that from August, customers will be able to purchase the device from one of over 100 Best Buy (BBY, -1.14%) stores based in the U.S. Before the holiday season, this will then be expanded to over 300 outlets but for now, Best Buy will be the only other major US retailer, besides Apple, who will sell the Apple Watch. With the latest news, the senior category officer at Best Buy, Jason Bonfig, said that their customers definitely want to purchase the Apple Watch and so it is an “important addition to an emerging product category”. Customers will be apple to purchase the Apple Watch and the Apple Watch Sport as well as a wide choice of straps and other accessories. For now, the gold-cased Apple Watch Edition model, which goes for a starting price of $10,000, will not be available at any Best Buy stores.

INDICES 

On Monday, U.S. stocks traded lower while the Dow Jones Industrial Average (DJIA) declined by triple-digits. This tumble came in response to the decline experienced on the Chinese stock market which negatively impacted the main U.S. indices. Risky assets such as commodities and equities were sold off while investors turned to safe havens such as gold and Treasurys. Interestingly, overnight, the Shanghai Composite index (SHCOMP, -8.48%) closed 8.5 percent lower. This marked the index’s biggest one-day slide since February 2007. At the close of U.S. trading, 30 components of the blue chip index traded lower while the DJIA dropped 0.8%, or 135 points, to 17,433. Also on the downside was the S&P 500 index (SPX) which declined 0.5%, or 11 points, to 2,068. Losses were led by financial and energy stocks. Following the downward trend was the Nasdaq Composite index (COMP) which was also down 0.9%, or 46 points, at 5,042.

CURRENCIES 

On Monday, the U.S. dollar (USD) declined. This came despite positive economic data out of the U.S. however investors remain cautious as the Federal Reserve is expected to issue their policy statement this week. According to the Commerce Department in the U.S., the total orders for durable goods increased in June by 3.4%. This beat analysts’ expectations for an increase of only 3.0 percent. Also, for May, orders for durable goods were revised to a decline of 2.1%. In addition, the orders for core durable goods, which do not include volatile transportation items, increased in June by 0.8% which also beat expectations for an increase of 0.5 percent. Over the last few weeks, the greenback has remained supported by the expectation that the central bank could raise interest rates soon. Rates are expected to be raised in September this year, should the economy continue to improve as expected. The EUR/USD traded at 1.1095, up 1.01% to mark a 2-week high, while the GBP/USD traded at 1.5571, up 0.34%. Against the Japanese yen, the U.S. dollar traded lower with the USD/JPY trading at 123.18, down 0.50%. Meanwhile, against the Canadian dollar and the Swiss franc, the USD traded lower with the USD/CAD down 0.18% at 1.3024 and with the USD/CHF down 0.61% and trading at 0.9568. The U.S. dollar index was at 96.58, down 0.78%.

COMMODITIES

In Asian trading on Tuesday, crude oil prices dropped. This came in response to the global supply glut with limited demand evident. WTI crude oil for September delivery traded at $47.16 a barrel, down 0.50%, on the NYMEX. With data from Baker Hughes last week regarding the number of active rigs in the U.S., U.S. crude futures extended their decline overnight on Monday, falling to a new 4-month low. According to the weekly report by Baker Hughes, the active oil rigs in the U.S. increased to 659, up by 21 rigs. Meanwhile on Monday, Brent crude oil for September delivery traded at $53.52 a barrel, down 2.01%, or $1.10, on the Intercontinental Exchange (ICE) in London. The spread between the U.S. and the international benchmarks of crude was at $6.08.

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

Forex Pivot Points & Technical Analysis 27.07.2015

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

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.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0970$ with targets at 1.1015$ next 1.1070$ in extension.

Alternatively, Short positions below the daily pivot point 1.0970$ with targets at 1.0920$ next 1.0870 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1020, 1.1135, 1.1220, 1.1285, 1.1350, 1.1470

Support: 1.0915, 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5490$ with targets at 1.5520$ next 1.5560$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5490$ with targets at 1.5450$ next 1.5420$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5550, 1.5675, 1.5815, 1.5930, 1.6000, 1.6185

Support: 1.5440, 1.5330, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9610 with targets at 0.9645 next 0.9670 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9610 with targets at 0.9585 next 0.9545 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9650, 0.9720, 0.9755, 0.9865

Support: 0.9520, 0.9405, 0.9350, 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.80 with targets at 123.95 next 124.30 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.80 with targets at 123.45 next 123.30 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.20, 124.50, 124.60, 125.05, 125.80

Support: 123.40, 122.40, 121.90, 121.45, 120.40, 118.30

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3050 with targets at 1.3080 next 1.3135 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3050 with targets at 1.2995 next 1.2960 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.3105, 1.3125, 1.3200

Support: 1.2930, 1.2915, 1.2820, 1.2645, 1.2565, 1.2500, 1.2420

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7295 with targets at 0.7335 next 0.7400 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7295 with targets at 0.7240 next 0.7200 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7350, 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7260, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6580 with targets at 0.6615 next 0.6650 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6580 with targets at 0.6545 next 0.6515 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6700, 0.6770, 0.6815, 0.6860, 0.6925, 0.6940

Support: 0.6555, 0.6485, 0.6380, 0.6320, 0.6275

Daily Market Review 24.07.2015

STOCKS 

When it comes to the shipment of smartphones, Apple Inc. (AAPL, +0.40%) is quickly catching up against Samsung. For the last quarter, it has been forecast that worldwide shipments were at 337.2 million, up 11.6 percent. According to IDC, the industry tracker, in terms of smartphone shipments, the tech giant Apple is now starting to outpace Samsung Electronics Co. (005930, -1.52%) on a global scale. Based on their latest estimate, there has been a distinct increase in the number of shipments compared to the 302.1 million units shipped in the same quarter last year. IDC has stated that the increase witnessed in the last quarter has come about as a result of demand for flagship devices from Samsung Electronics, from a strong demand for the Apple iPhone as well as the introduction of new players in the market. This has boosted the improvement also witnessed in emerging markets. For example, the latest brand Xiaomi increased their shipment number in 2015 by almost 30 percent compared to last year. This comes as Xiaomi predominantly targets customers in Southeast Asia and India. In addition, Samsung has witnessed a decline in volume year over year due to the competition it faces with the iPhone 6 Plus, Apple’s larger-screen phone. It is evident that Apple is pushing to lead the way and the fiscal 3rd quarter results marked the tech giant’s best quarter ever after the company reported iPhone sales of 47.5 million.

INDICES 

On Thursday, U.S. stocks traded lower. This came in response to the cautious sentiment among investors during afternoon trade as riskier assets such as stocks were sold in favor of Treasurys. In addition, the main indices gave up early gains and declined on a variety of poor earnings reports such as from American Express, 3M and Caterpillar. Before the opening bell, the jobless report boosted investor beliefs that the economy is now on track for an interest rate hike by the Federal Reserve. This came after data showed that the weekly applications for unemployment benefits declined to their lowest level which was last seen in 1973. Despite this positive data, economists warned that July data has a tendency to be extremely volatile. Meanwhile, the Nasdaq Composite index (COMP) ended the trading day down 0.5%, or 25.36 points, to 5,146.41. Also on the downside was the S&P 500 index (SPX) which lost 0.6%, or 12 points, to 2,102.15 while the Dow Jones Industrial Average (DJIA) dropped 0.7%, or 119.09 points, to 17,731.92. The blue chip index turned negative for the year and also closed below its 200-day moving average. According to technical analysts, this is a bearish sign for the index.

CURRENCIES 

On Thursday, the U.S. dollar (USD) traded at a 1-month low. This decline came despite positive data out of the U.S which showed that jobless claims in the country decline to its lowest level since November 1973 last week. In addition progress on the Greek debt front supported the demand for riskier assets. According to the Department of Labor, in the week ending 18 July, the number of people who filed for initial jobless benefits was at 255,000, down 26,000. The previous week’s total was at 281,000 while analysts had forecast jobless claims to decline to 280,000 last week, down by 1,000. The U.S. dollar index traded at its lowest level since the 17th of July at 97.35, down 0.26%. Also, the EUR/USD traded at a 1-week high at 1.0974, up 0.41% while the GBP/USD traded at 1.5551, down 0.37%. Meanwhile, the U.S. dollar also traded mixed against the Japanese yen and the Australian dollar with the USD/JPY steady at 124.05 while the AUD/USD traded at 0.7366, down 0.12%.

COMMODITIES 

In Asian trading on Friday, crude oil prices gained. This increase came despite the bearish news on the supply outlook as well as the poor flash manufacturing estimates on China. Investors have now shifted their attention to the rig count data which is set to be released by Baker Hughes today. According to the Markit/Caixin survey, for July, China’s manufacturing declined to a 15-month low, down to 48.2 which is way below the expected 49.7. Meanwhile, on Thursday, Brent crude oil for September delivery traded at $55.24 a barrel, down 1.57%, or $0.89, on the Intercontinental Exchange (ICE) in London. Also, on Friday, WTI crude oil for September delivery traded at $48.76 a barrel, up 0.64%.

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

Forex Pivot Points & Technical Analysis 23.07.2015

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

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.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0900$ with targets at 1.0990$ next 1.1060$ in extension.

Alternatively, Short positions below the daily pivot point 1.0900$ with targets at 1.0835$ next 1.0740 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.0975, 1.1135, 1.1220, 1.1285, 1.1350, 1.1470

Support: 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 1.5655$ next 1.5700$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5605$ with targets at 1.5560$ next 1.5505$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5675, 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 0.9600 with targets at 0.9645 next 0.9695 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9600 with targets at 0.9555 next 0.9510 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9650, 0.9720, 0.9755, 0.9865

Support: 0.9520, 0.9405, 0.9350, 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.95 with targets at 124.30 next 124.50 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.95 with targets at 123.70 next 123.35 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.50, 124.60, 125.05, 125.80, 126.30

Support: 123.55, 122.40, 121.90, 121.45, 120.40, 118.30

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3010 with targets at 1.3085 next 1.3130 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3010 with targets at 1.2965 next 1.2890 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.3055, 1.3090, 1.3125, 1.3200

Support: 1.2915, 1.2820, 1.2645, 1.2565, 1.2500, 1.2420, 1.2320

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7390 with targets at 0.7435 next 0.7500 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7390 with targets at 0.7325 next 0.7280 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7325, 0.7280, 0.7170

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6610 with targets at 0.6660 next 0.6705 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6610 with targets at 0.6565 next 0.6510 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6770, 0.6815, 0.6860, 0.6925, 0.6940

Support: 0.6555, 0.6485, 0.6380, 0.6320, 0.6275

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