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 

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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. 

Daily Market Review 22.07.2015

STOCKS 

Microsoft Corp. (MSFT, +0.77%) failed to impress when the company reported its second quarter earnings which reflected its biggest quarterly loss ever. To start, Microsoft reported a loss in revenue which declined by 5.1 percent. This came as a result of the continued decline in PC demand as well as other items which were all related to the Nokia mobile-phone business which Microsoft acquired last year. For the period ending on the 30th of June, revenue declined from $23.38 billion a year ago to $22.18 billion. This beat expectations of analysts polled by Thomson Reuters who expected revenue of $22.03 billion. Also on the upside were the earnings per share and after removing one-time items as well as the write-down, Microsoft managed to beat analysts’ expectations. Microsoft reported a loss of 40 cents a share, or $3.2 billion, which is down compared to 55 cents a share, or profit of $4.61 billion, reported a year ago. Excluding restructuring charges, the write-down and other one-time items, earnings per share were 62 cents which beat expectations for profit of 56 cents. With Apple Inc. dominating the smartphone market, Microsoft's Windows smartphones only make up a very small share of this market. At the beginning of July, Microsoft stated that they would be writing down approximately 80 percent of the $9.4 billion deal for Nokia's handset business. In addition, the technology giant said that it would cut more than 6 percent of its global workforce which would mostly impact its mobile phone operation. All eyes are now on the release Windows 10, the latest version of Microsoft's operating system, and how this will impact the financial performance of the company. Meanwhile, Microsoft shares are currently trading at $47.28 a share.

INDICES 

On Tuesday, U.S. stocks traded lower with the Dow Jones Industrial Average (DJIA) declining more than 180 points. This drop came as a result of a big decline in the share price of both United Technologies Corp. (UTX, -7.03%) and IBM (IBM, -5.86%) which both reported poor quarterly reports. IBM is the 2nd highest-weighted component in the blue chip Dow index while United Technologies sits in tenth place. As a result of a decline in these companies, this contributed to a 120 point drop in the Dow. At the close of trading, the DJIA was down 1%, or 181.12 points, at 17,919.29. Twenty six of the index’s 30 components, finished lower. Meanwhile, the Nasdaq Composite index (COMP) also declined 0.2%, or 10.74 points, to 5,208.12, retreating from the record close set on Monday. Also on the downside was the S&P 500 index (SPX) which dropped 0.4%, or 9.07 points, to 2,119.21. Losses were led by the telecoms sector which declined 1.7 percent while 9 out of the index’s 10 main sectors ended lower.

CURRENCIES 

On Tuesday, the U.S. dollar (USD) traded lower. This came in response to investors locking in profits as a result of the USD’s recent rise to a three-month high. Meanwhile, the greenback continued to remain supported by expectations of an interest rate hike by the Federal Reserve in the near future after the Chair Janet Yellen stated last week that the central bank is likely to raise rates ‘at some point this year’. The EUR/USD traded at 1.0913, up 0.84% while the GBP/USD traded at 1.5549, down 0.10%. Meanwhile, against the Australian dollar, the Japanese yen and the Swiss franc, the U.S. dollar traded lower with the AUD/USD up 0.81% at 0.7432, the USD/JPY down 0.20% at 124.02 and with the USD/CHF down 0.74% and trading at 0.9574. Also, the U.S. dollar index was at 97.54, down 0.62%.

COMMODITIES 

In early Asian trading on Wednesday, crude oil prices dropped. This came in response to the industry data on stocks that was released in the U.S. on Tuesday. According to the API (American Petroleum Institute), last week, crude oil stocks rose by 2.3 million barrels in the U.S. Meanwhile, in their weekly report last week, the EIA (Energy Information Administration) reported that for the week ending on the 17th of July, crude stockpiles in the U.S. declined by 2.2 million barrels. WTI crude oil for delivery in September traded at $50.60 a barrel, down 0.51%, on the NYMEX. On Monday, Brent crude oil for delivery in September traded at $57.08 a barrel, up 0.78%, or $57.08, on the Intercontinental Exchange (ICE) in London.

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

How to Make Money like a Pro with VIP AutoTrade Binary?

Daily Market Review 15.07.2015

Wednesday is crunch day for Greece as the all agreements in the final proposal with the Eurozone creditors must be enacted today before the Eurozone will move forward with partial funding to help Greece move forward. The ECB is keeping the ELA frozen at 89 billion euros which has all been used leaving no funds for the banks which remain closed until Thursday as the government continues the banking holiday.  The euro has bounced around the 1.10 level since the agreement was reached. Traders are watching the ECB closely as Mario Draghi might indicate that the central bank will increase or extended their monetary stimulus program to help the economy recover from the Greek stress. Draghi is also expected to discuss funding for Greece on Thursday. Most analyst are expecting Draghi to slowly increase the ELA to help fund the Greek banks.  European shares trade mixed today as investors await the outcome of tomorrow’s Greek vote in parliament. In the US, Equities opened slightly higher, despite weaker than expected eco data.

The euro is trading at 1.1009 and against cable the euro is trading at 0.7061 down over 40 points as the pound climbed today after comments from the Bank of England Governor.

Governor Carney warned today in a testimony before lawmakers that households should start to prepare for higher borrowing costs as the economic recovery gathers momentum, though the central bank would raise rates only slowly. BoE’s Miles added that the first rise in borrowing costs clearly is coming and it was not a bad thing.

The US dollar eased a bit today on lackluster data ahead of Janet Yellen’s testimony. The greenback is trading at 96.83. The dollar declined after an unexpected fall in retail sales. Sretail sales slipped 0.3 percent last month, the weakest reading since February, as consumers cut back on purchases of automobiles and other goods, according to a Commerce Department report. Excluding automobiles, gasoline, building materials and food services, core retail sales dipped 0.1 percent following a 0.7 percent gain in May.  Economists polled by Reuters had forecast retail sales rising 0.2 percent. Core retail sales had been expected to increase 0.4 percent.  Binary option investors are expected to remain cautious ahead of scheduled testimony on Wednesday and Thursday by Fed Chair Janet Yellen. Investors expect the Fed to start raising rates later this year, in contrast to the European Central Bank and the Bank of Japan, which are seen continuing with their ultra-loose monetary policies for the foreseeable future.

The Daily Market Review brought to you by Billionaire Forex UK in collaboration with UKoptions, Investment House. 

Daily Market Review 14.07.2015

STOCKS 

Get Ready for the Windows 10 Launch: Microsoft Corp. (MSFT) is planning to go all out for the launch of Windows 10 which is expected to take place on the 29th of July. To get everyone in the celebrating mood, the tech giant has provided more details as to how the company will celebrate the birth of its software upgrade. Once thing we know for sure, Microsoft is planning to make this far bigger than when Windows 8 hit the streets. In conjunction with the release, Microsoft’s marketing campaign is built on the message of "upgrading the world" which the company is planning to do by offering consumers a bit of help with shifting to Windows 10. In addition, anyone who needs assistance with the software can visit Microsoft stores, as well as retailers like Wal-Mart, Staples and Best Buy, which will all provide in-store upgrade assistance as well as "experience stations" so one can try out Windows 10. On the 29th of July, Windows 10 will be made available to five million beta testers and the software will then be rolled out to everyone else. According to Bloomberg, this means that Windows 10 will not be available for new computers sold on that day. Users can then simply upgrade their new computer inside a store or one can join the Windows 10 download queue. As part of their launch, Microsoft is also committing to support 10 global firms by donating $10 million as well as an additional 100 smaller outfits in 10 countries. In addition to the cash, Microsoft will help to organize initiatives to "upgrade the world" while Microsoft staff has also been granted an extra day off so that employees can upgrade their local communities to Windows 10 on launch day. Microsoft is currently trading at $45.54 a share.

INDICES  

On Monday, U.S. stocks closed sharply higher. This came in response to positive investor sentiment regarding Greece as the country and its creditors finally reached an agreement for a third bailout program. As a result, a potential ‘Grexit’ was averted. Meanwhile, the main indices recorded their 3rd consecutive session of gains while the Dow Jones Industrial Average (DJIA) rose by more than 200 points for the 2nd session in a row. The blue chip index advanced 1.2%, or 217.27 points, to 17,977.68, with only one of its members closing lower. Also, the S&P 500 index (SPX) advanced 1.1%, or 22.98 points, to 2,099.60. All 10 main sectors on the index finished with gains which were led by consumer discretionary and technology stocks. Also on the upside was the Nasdaq Composite index (COMP) which climbed 1.5%, or 73.82 points, to 5,071.51.

CURRENCIES

On Monday, the U.S. dollar (USD) traded higher. This came in response to the news that eurozone leaders had reached an agreement with regards to a new bailout for Greece following marathon weekend-long talks. Greece now has until Wednesday this week to pass new legislation in order to cut pension payments, increase sales taxes, as well as enforce automatic cuts on spending should the next budget miss its targets before negotiations on a 3rd bailout program can begin. The EUR/USD traded down 1.25% at 1.1016, while the EUR/JPY was also down 0.76% and trading at 136.00. Also, the USD/JPY traded at 123.45, up 0.56%, the GBP/USD traded at 1.5521, up 0.15% while the USD/CAD advanced 0.88% to 1.2766. Meanwhile, the U.S. dollar index traded at 96.89, up 0.96%.

COMMODITIES

On Tuesday, crude oil prices declined in Asian trading. This comes as investors now shift their focus to the stockpile industry estimates expected out of the US today as well as demand and supply cues on Iran. Today, the API (American Petroleum Institute) will release figures on last week’s crude and refined stocks which will then be followed by data release on Wednesday by the U.S. Department of Energy. Meanwhile, WTI crude oil for delivery in August traded at $51.78 a barrel, down 0.80 percent. On Monday, Brent crude oil for delivery in August traded at $58.17 a barrel, down 1.38%, or $0.81, on the Intercontinental Exchange (ICE) in London.

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

Forex Pivot Points & Technical Analysis 13.07.2015

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 1.1140$ with targets at 1.1225$ next 1.1300$ in extension.

Alternatively, Short positions below the daily pivot point 1.1140$ with targets at 1.1060$ next 1.0975 in extension.

 

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1220, 1.1285, 1.1350, 1.1470, 1.1500

Support: 1.1050, 1.0975, 1.0915, 1.0885, 1.0820, 1.0660

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5450$ with targets at 1.5540$ next 1.5640$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5450$ with targets at 1.5350$ next 1.5260$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5550, 1.5665, 1.5815, 1.5930, 1.6000 , 1.6185

Support: 1.5330, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9385 with targets at 0.9445 next 0.9540 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9385 with targets at 0.9295 next 0.9230 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9515, 0.9545, 0.9600, 0.9720

Support: 0.9350, 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 122.35 with targets at 123.20 next 123.75 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 122.35 with targets at 121.80 next 120.95 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 122.90, 123.70, 124.60, 125.05, 125.80, 126.30

Support: 121.90, 121.45, 120.40, 118.30, 117.80

USDCAD - Day Trading Strategies
Bullish scenario: Long positions above the daily pivot point 1.2685 with targets at 1.2725 next 1.2790 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2685 with targets at 1.2620 next 1.2580 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2785, 1.2835, 1.2930, 1.3005

Support: 1.2630, 1.2500, 1.2420, 1.2320, 1.2250, 1.2150

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7445 with targets at 0.7480 next 0.7530 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7445 with targets at 0.7395 next 0.7355 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7500, 0.7595, 0.7630, 0.7740, 0.7770

Support: 0.7370, 0.7340 , 0.7280 , 0.7170

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6725 with targets at 0.6765 next 0.6810 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6725 with targets at 0.6680 next 0.6640 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6770, 0.6815, 0.6860, 0.6925, 0.6940, 0.7025

Support: 0.6620, 0.6600, 0.6570, 0.6480

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

Daily Market Review 10.07.2015

STOCKS

Which US Stocks Could Be Impacted By China? Canada is the U.S.’s largest trading partner and China sits in second place. With this in mind, combined with the recent decline in the Chinese stock markets, you must be wondering if any American companies are at risk in any way. The reality is, today, China is an important market for companies in the U.S. from iPhones to luxury handbags and more. Does this now mean that these U.S. companies should expect a negative impact to their profitability? Until now, analysts have made it clear that they do not expect the current instability in the market to cause a broader economic crisis. They are however recommending that investors reduce their risk when it comes to China. This means both refraining from buying Chinese stocks as well as investing in any U.S. company which relies heavily on China for the majority of their revenue. Based on this, the main companies on the S&P 500 index (SPX) which have the most sales from China include Skyworks Solutions Inc. (SWKS, -0.84%) at 67%, Yum Brands Inc. (YUM, +1.22%) at 52%, Qualcomm Inc. (QCOM, +0.16%) at 48%, Avago Technologies Ltd. (AVGO, -2.60%) at 48% and Micron Technology Inc. (MU, -2.30%) at 40%. Interestingly, it is the technology companies which are most exposed to the current volatility in China. Added to this, Yahoo Inc. (YHOO, +1.11%) currently still owns a stake in Alibaba Group Holding Ltd. (BABA, +1.74%) of 15 percent. Meanwhile, 16 percent of Apple Inc.’s (AAPL, -1.84%) revenue comes from China. Now there is something to think about. 

 
INDICES

On Thursday, despite coming off session highs, U.S. stocks ended the trading day higher. This came as a result of a boost in investor confidence which was evident in the gains for riskier assets such as commodities and stocks as well as an increase in bond yields. This was a relief after the chaos on Wednesday where losses in the main indices were strongly impacted by the halt in the New York Stock Exchange for 3.5 hours as a result of a technical problem. At the close of trading, the Dow Jones Industrial Average (DJIA) rose 0.5%, or 87 points, to 17,602. Also on the upside was the S&P 500 index (SPX) which advanced 0.5%, or 11 points, to 2,057 while the tech heavy Nasdaq Composite index (COMP) also rose 0.7%, or 34 points, to 4,944. 

CURRENCIES

On Thursday, the U.S. dollar (USD) traded broadly higher. This increase came despite data which showed that last week, jobless claims in the U.S. had increased to its highest level since February. According to the U.S. Department of Labor, for the week ending on the 4th of July, the number of individuals filing for initial jobless benefits was at 297,000, up 15,000. This missed analysts’ expectations for a decline of 7,000 to 275,000 last week. Meanwhile on Wednesday, after the minutes of the Federal Reserve’s June policy meeting were released, the USD declined. This came after the Fed stated that before they will raise interest rates, they will need to see more signs of a strengthening economy in the U.S. The EUR/USD traded at 1.1036, down 0.37% while the GBP/USD was at 1.5393, up 0.21%. Meanwhile, against the currencies in Canada, Japan and Switzerland, the greenback traded mixed with USD/CAD down 0.08% at 1.2734, with USD/JPY up 0.57% at 121.39 and with USD/CHF up 0.40% to trade at 0.9491. Also, the U.S. dollar index was at 96.69, up 0.31%.

COMMODITIES

On Friday, crude oil prices gained slightly in early Asian trade. This came as investors maintained their focus on the volatility in China to establish demand cues from the world's top importer. Also, investors are awaiting the weekly report from Baker Hughes (NYSE:BHI) expected out today on the current rig count in the U.S. Last week, the company reported that the rigs in the country rose by 12 to 640. This marked the end of a 29 week streak of weekly draws. WTI crude oil for delivery in August traded at $52.84 a barrel, up 0.10%, on the NYMEX. Also, on Thursday, Brent crude oil for delivery in August traded at $58.66, up 2.84%, or $1.62, on the Intercontinental Exchange (ICE) in London. 

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

Daily Market Review 09.07.2015

STOCKS

Tesla Declines on Analyst Downgrade: In premarket trade on Wednesday, the stock of Tesla Motors Inc. (TSLA, -4.86%) plunged 1.8 percent. This marked an extension of a sharp selloff which the electric car maker experienced in the previous session. This decline came in response to a downgrade by Brad Erikson, an analyst at Pacific Crest, who stated his concerns regarding the valuation of the stock price. According to Erikson, a fair valuation for Tesla’s stock is $293. This is currently 9.4 percent above the closing price on Tuesday. Despite the downgrade, Erikson wrote in a note to his clients that Tesla can be considered one of the most innovative companies which are unique to other competitors in the space. Based on this, Erikson feels that the current stock price is a fair valuation. On Tuesday, the shares of Tesla slumped 4.2% which marked the biggest one day decline in the last 5 months. This decline came as a result of a downgrade by Deutsche Bank who also cited valuation concerns. Despite the two blows, Tesla’s stock is still up year to date by 20 percent. This can be compared to the increase in the S&P 500's index (SPX, -1.50%) which has only gained 1.1 percent over the same period.

INDICES

On Wednesday, in morning trade, U.S. stocks saw a major selloff which was prompted after the New York Stock Exchange was stopped for 3 and a half hours. Despite the morning decline, these stocks then turned and ended the trading session with modest gains. Adding to the pressure was the unresolved debt crisis in Greece while the major selloff in China also rattled some cages. At 11:32 a.m. Eastern, NYSE securities trading was stopped due to a technical glitch. Trading then only resumed at 3:10 p.m. Eastern and according to a spokesperson for the exchange, the shutdown of the exchange did not occur as a result of a cyber-attack. As a result, the CBOE Volatility index (VIX, +22.19%) rose above 19, up 22%. Meanwhile, the Dow Jones Industrial Average (DJIA) declined 1.5%, or 261.49 points, to 17,515.42. This marked the blue chip’s lowest closing level since February. Also on the downside was the S&P 500 index (SPX) which dropped 1.7%, or 34.65 points, to 2,046.69. This level also marked the benchmark index’s lowest closing level since March. Also, the Nasdaq Composite index (COMP) dropped 1.8%, or 87.70 points, to 4,909.76.

CURRENCIES

On Wednesday, the U.S. dollar (USD) traded lower. This came as investors focused on the debt crisis in Greece as the country was given until Thursday to present a new proposal to creditors by the eurozone officials. Added to this, due to a selloff and a major decline in Chinese shares, the Japanese yen (JPY) rallied as the demand for safe haven assets was boosted. The USD/JPY traded at 121.11, down 1.16 percent, which also marked the pair’s lowest level since the 22nd of May. Against the euro, the JPY traded at a 1-month high with the EUR/JPY at 133.86, down 0.79%. Meanwhile, the EUR/USD traded at 1.1047, up 0.32% while the GBP/USD traded at 1.5341, down 0.77 percent. Also, the U.S. dollar index was at 96.63, down 0.26%.

COMMODITIES

On Thursday, crude oil prices gained in early Asian trade. This came in response to data which showed that consumer prices in China increased in June as the CPI rose above the 1.3% gain seen by 1.4 percent. Meanwhile, the PPI declined 4.8 percent which was higher than the expected decline of 4.5%. WTI crude oil for delivery in August traded at $52.12 a barrel, up 0.90% on the NYMEX. On Wednesday, Brent crude oil for delivery in August traded between $55.88 and $57.75 a barrel on the Intercontinental Exchange (ICE) in London. According to data released by the EIA (Energy Information Administration) on Wednesday, for the week ending on the 3rd of July, crude oil inventories increased by 400,000 barrels which was above the expectations for a 500,000 draw. Crude stockpiles in the country are now at 465.8 million barrels. 

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