Daily Market Review 08.07.2015

It is evident that the Greece drama is positive for the U.S. dollar (USD) and on Tuesday, the currency remained broadly higher against other major currencies. This also came after data showed that in May, the trade deficit in the U.S. widened less than expected in May. 

According to the report by the U.S. Bureau of Economic Analysis, in May, the trade deficit climbed from $40.7 billion in April to $41.87 billion. Analysts had expected the May trade deficit in the U.S. to widen to $42.6 billion. The EUR/USD traded at 1.0940, down 1.04% and this decline came after officials in the eurozone told Greece not to expect debt relief any time soon. These officials also stated that the country needed to announce further reforms before anything concrete could be considered. 

On Tuesday evening, a eurozone summit was expected to take place in order to restart negotiations between Greece and its lenders. Meanwhile, the GBP/USD traded at 1.5428, down 1.15% while the USD/JPY traded at 122.19, down 0.31%. Against the currencies in Canada and Switzerland, the greenback traded higher with the USD/CAD up 0.89% to a 3-month high of 1.2764 while the USD/CHF gained 0.67% to trade at 0.9489. Also, the U.S. dollar index was at 97.29, up 0.89%.

The US dollar has been rallying all day on Tuesday which is a combination out of weakness in the euro as well as anticipations from the Fed. The greenback is trading at 1.0963 down 93 points as Eurozone leaders were disappointed by the lack of preparation by the Greek leaders at the Emergency meeting held today. The US dollar is trading at 97.15 up by 72 points paying little attention to disappointing export data. Binary option traders should be able to find several profitable trades tomorrow.

Gold has fallen to a new 2015 low trading at 1153.10 declining by $13.40 today. Traders can expect a jump early in the Asian session as investors close positions to book profits. Gold has been immune to the Greek crisis, as traders are betting on the Fed rate increases.

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

Daily Market Review 07.07.2015

STOCKS

First Share Buyback Scrapped By Rolls-Royce: They might be the crème of the crop when it comes to luxury vehicles and aircraft engines, but Rolls-Royce Holdings PLC has now disappointed investors by scrapping their 1st ever share buyback. Added to this, the largest European aircraft engine making company also warned that there has been a decline in the demand for its marine engine and airliner businesses. As a result, investors should not be expecting any ground breaking earnings from Rolls-Royce until next year. This disappointing news was delivered shortly after the company moved under new management with Warren East as the new CEO and David Smith as the newly appointed CFO. Meanwhile, Rolls-Royce, which is also a leading industrial company in the UK, stated that their underlying pretax profit is now expected to be GBP1.33 billion and GBP1.48 billion this year, which is much lower than the company’s previous guidance of GBP1.40 billion to GBP1.55. Also, the company stated that its cash outlook has also declined and is now likely to range from between GBP150 million in cash outflow and GBP150 million in inflow. This is a lot lower than the GBP350 million the company expected to generate in cash. As a result of this weak cash performance, Rolls-Royce has put an end to its GBP1 billion share buyback which it introduced a year ago. Rolls-Royce is currently trading at $782.92 a share.

INDICES 

With a ‘No’ result from the Greek referendum which took place over the weekend, we could have expected to see major movements on the markets on Monday. In the U.S., stocks extended declines and the selloff of risky assets such as equities and some commodities was evident. Meanwhile, safe havens such as gold and Treasurys gained. Interestingly, the fear gauge on Wall Street, or the CBOE Volatility index (VIX, +2.08%) increased to above 18, up 8 percent. At the close of trading, the Dow Jones Industrial Average (DJIA) declined 0.6%, or 104 points, to 17,633 while the S&P 500 index (SPX) declined 0.7%, or 14 points, to 2,062. Also on the downside was the Nasdaq Composite index (COMP) which dropped 0.8%, or 37 points, to 4,971.

CURRENCIES

In currency trading on Monday, the U.S. dollar (USD) trimmed gains. This came after data showed that activity in the service sector in the U.S. grew at a slower pace than expected in June. Despite this, the USD remained broadly supported by the outcome of the Greek referendum which took place over the weekend. Meanwhile, the ISM (Institute of Supply Management) reported that its non-manufacturing PMI (purchasing manager's index) rose from 55.7 in May to 56.0 in June. This missed expectations for an increase to 56.2. The EUR/USD traded at 1.1066, down 0.40% while the GBP/USD traded at 1.5583, up 0.08 percent. Against the currencies in Canada, Switzerland and Japan, the greenback traded mixed with USD/CAD up 0.44% at 1.2629, the USD/CHF up 0.37% at 0.9437 and with the USD/JPY steady at 122.78. Also, the U.S. dollar index was steady at 96.34.

COMMODITIES

On Tuesday, crude oil prices rebounded in early Asian trade. Investors now shift their attention to the weekly report by the API (American Petroleum Institute) which is expected to release its weekly stockpile estimates of crude oil and refined products in the U.S. last week. WTI crude oil for delivery in August traded at $52.95 a barrel, up 0.79 percent. Meanwhile on Monday, Brent crude oil for delivery in August traded at $56.55 a barrel on the Intercontinental Exchange (ICE) in London. Also, according to a report released by Platts on Monday, the production from OPEC continued to increase in June, remaining at its highest level since October, 2012. Last month, OPEC produced 31.28 million barrels per day, up 170,000.

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

Forex Pivot Points & Technical Analysis 06.07.2015

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

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1105$ with targets at 1.1175$ next 1.1245$ in extension.

Alternatively, Short positions below the daily pivot point 1.1105$ with targets at 1.1035$ next 1.0960 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1285, 1.1350, 1.1470, 1.1500

Support: 1.0950, 1.0885, 1.0820, 1.0660

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5575$ with targets at 1.5615$ next 1.5680$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5575$ with targets at 1.5510$ next 1.5470$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5665, 1.5815, 1.5930, 1.6000 , 1.6185

Support: 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9405 with targets at 0.9430 next 0.9470 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9405 with targets at 0.9370 next 0.9340 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9500, 0.9545, 0.9600, 0.9720

Support: 0.9405, 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 122.80 with targets at 123.05 next 123.40 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 122.80 with targets at 122.45 next 122.20 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 123.70, 124.60, 125.05, 125.80, 126.30

Support: 122.40, 121.90, 121.45, 120.80, 118.30

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2570 with targets at 1.2620 next 1.2680 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2570 with targets at 1.2510 next 1.2460 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2635, 1.2670, 1.2785

Support: 1.2500, 1.2420, 1.2320, 1.2250, 1.2150, 1.1950

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7550 with targets at 0.7605 next 0.7705 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7550 with targets at 0.7450 next 0.7395 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7740, 0.7770, 0.7850, 0.7860, 0.8030

Support: 0.7565, 0.7550, 0.7530, 0.7450, 0.7395, 0.7340

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6690 with targets at 0.6725 next 0.6770 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6690 with targets at 0.6640 next 0.6605 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6815, 0.6860, 0.6925, 0.6940, 0.7025, 0.7075

Support: 0.6650, 0.6630, 0.6570

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 is provided by senior analysts at STOCK in collaboration with Billionaire Forex UK. 

Daily Market Review 03.07.2015

STOCKS 

Tesla Price Target Almost Tripled: There is simply no ignoring Tesla Motors Inc. (TSLA, +2.64%) as the electric car maker seems to be doing everything right. On Thursday, analysts at Bank of America Merrill Lynch raised their price target on the Tesla stock from $65 to $180. That’s almost triple their original price target. Interestingly, until now, the Bank of America Merrill Lynch has been bearish about the company but now the bank has changed its tune and has stated that Tesla is in fact an “important catalyst" for the electric car and car industries. According to the analysts, Tesla shares still remain overvalued and because of this, the bank has maintained their rating at underperform. On Thursday, the shares of Tesla surged 2.7 percent to trade at $276.15, marking the highest price in the last ten months. In the last 3 months, Tesla shares have increased by 45 percent and this is significant compared to the gains of the S&P 500 Index (SPX, -0.18%) at only 0.6 percent over the same period. In other news, Tesla also reported their sales numbers for the 2nd quarter earlier in the day and the company stated that they had delivered a record number of Model S cars at a total of 11,507, up 52% from the year-ago period. The number was well above the company's estimate of 10,000 to 11,000 units.

INDICES 

On Thursday, U.S. stocks gave up early gains to end the trading day lower. This came in response to investor uncertainty regarding the debt crisis while a soft jobs report out of the U.S. did very little to boost stocks. Due to the Fourth of July holiday, the jobs report was released one day earlier and government data showed that for June, the economy added 223,000 new jobs while weekly jobless claims advanced to 281,000 up 10,000. At the close of trading, the Dow Jones Industrial Average (DJIA) declined 0.3%, or 51 points, to 17,706. This blue chip index is on track for a weekly loss. Meanwhile, the S&P 500 index (SPX) was also down 0.2%, or 5 points, to 2,072 and is set to post its 2nd straight weekly loss while the Nasdaq Composite index (COMP) also dropped 0.4%, or 17 points, to 4,994.

CURRENCIES 

In currency trading on Thursday, the U.S. dollar (USD) traded lower. This came after the release of poor economic reports out of the U.S. which prompted expectations that the Federal Reserve is unlikely to increase interest rates at any time soon. According to the Commerce Department in the US, in the month of May, factory orders declined by 1.0 percent. This missed expectations for a decline of 0.5 percent. In a separate report, the Labor Department reported that in June, the economy added 223,000 jobs compared to May’s number which was revised from 262,000 to 254,000. Also, the rate of unemployment declined to 5.3% in June from 5.5 percent in May. Other data showed that for the week ending on the 27th of June, the number of individuals filing for initial jobless benefits increased to 281,000, up 10,000, up from the previous week’s total of 271,000. The EUR/USD traded at 1.1104, up 0.47% to while the GBP/USD held steady at a 2-and-a-half week low of 1.5615. Also, against the currencies in Japan, Canada and Switzerland, the greenback traded down with the USD/JPY down 0.09% to 123.06, the USD/CAD down 0.13% to 1.2573 and with USD/CHF down 0.55% to trade at 0.9432. Also, the U.S. dollar index was at 96.18, down 0.31%.

COMMODITIES 

On Friday, crude oil prices took a sharp decline in early Asian trade. This came in response to investor sentiment that there are very few global demand triggers while volatility is expected in the markets next week as a result of the Greece debt crisis as well as the referendum which will take place over the weekend. Greece voters will go to the polls to decide whether to accept a bailout package from international creditors or not. WTI crude oil for delivery in August traded at $56.56 a barrel, down 0.66 percent, on the NYMEX. Meanwhile, on Thursday, Brent crude oil for delivery in August traded at $62.10 a barrel, up 0.15%, or 0.09 cents, 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 02.07.2015

STOCKS
Fourth of July – Which Markets Will be Closed? Independence Day in the U.S. falls on the 4th of July which happens to fall on a Saturday this year. As a result, the markets in the country will be closed on Friday in observance of this holiday. On Thursday, the stock exchanges in the U.S. will trade as normal. On Friday morning, the 3rd of July, the weekly jobs report will be released and we might see some active trading in early morning trade yet due to the holiday, this trading volume is likely to decline after the employment data is released. The New York Stock Exchange (NYSE) and the Nasdaq (COMP, +0.19%) will operate their regular hours on Thursday, yet they will be closed on Friday. Meanwhile, the SIFMA (Securities Industries and Financial Markets Association) has also recommended that the bond markets close on Friday. The New York and Chicago Mercantile floor trading will also be closed on Friday while the Chicago-traded commodities will see early closes starting from 1 p.m. Eastern time on Thursday. This includes the currency-related futures, the Dow and Nasdaq futures as well as grains. With all eyes currently on Greece, the Asian and European markets will continue to trade normal trading hours both on Thursday and Friday so if anything develops in Greece over these two days, most of the activity is likely to be seen in these markets over the Fourth of July holidays.

INDICES
On Wednesday, U.S. stocks traded higher. This came as investors shifted their focus away from Greece and on to economic data released out of the country. In late trade, the main indices gave back gains made in the morning as a result of a sharp decline in energy stocks. At the close of trading, the Dow Jones Industrial Average (DJIA) ended 0.8%, or 138.40 points, up at 17,757.91 while the Nasdaq Composite index (COMP) advanced 0.7%, or 26.26 points, to 5,013.12. Also on the upside was the S&P 500 index (SPX) which rose 0.7%, or 14.31 points, at 2,077.42. Gains on the index were led by financials while the only sector that was trading lower was energy stocks as a result of a sharp decline in oil prices. Despite these gains, all three benchmark indices are still down approximately 1 percent for the week.

CURRENCIES 
In currency trading on Wednesday, the U.S. dollar (USD) traded higher. This came in response to the release of positive manufacturing and jobs data in the U.S. while investors are still remaining cautious as a result of concerns regarding the debt crisis in Greece. According to the Institute for Supply Management, their PMI (purchasing managers’ index) rose from 52.8 in May to 53.5 in June. This beat analysts’ expectations for an uptick to 53.1. Meanwhile, in a separate report, ADP, the payroll processing firm, reported non-farm private employment in the U.S. in June rose by 237,000. This also beat expectations for an increase of 218,000. The EUR/USD traded at 1.1077, down 0.59% while the GBP/USD was at 1.5634, down 0.48 percent. Against the currencies in Japan, Canada and Switzerland, the greenback traded higher with USD/JPY up 0.38% at 122.97, USD/CAD up 0.47% at 1.2550 and with USD/CHF up 0.65% to trade at 0.9426. Also, the U.S. dollar index was at 96.23, up 0.50%.

COMMODITIES 
On Thursday, crude oil prices traded slightly weaker in early Asian trade. This came in response to data which showed a buildup in U.S. stockpiles as well as the global scope for demand. WTI crude oil for delivery in August traded at $56.93 a barrel, down 0.05%, on the NYMEX. Meanwhile on Wednesday, Brent crude oil for delivery in August traded at $61.91, down 2.64%, or 1.68, on the Intercontinental Exchange (ICE) in London. During the trading day, Brent crude futures declined by more than 2.5 percent. Also, in their weekly report, the EIA (Energy Information Administration) stated that last week, the crude inventories in the U.S. rose by 2.4 million barrels. This marked the end of an 8-week streak of weekly draws while crude stockpiles are near its highest level in the last 80 years at 465.4 million barrels.

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

Forex Pivot Points & Technical Analysis 01.07.2015

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 1.1125$ with targets at 1.1280$ next 1.1430$ in extension.

Alternatively, Short positions below the daily pivot point 1.1125$ with targets at 1.0975$ next 1.0825 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1285, 1.1350, 1.1470, 1.1500

Support: 1.0950, 1.0885, 1.0820, 1.0660

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5710$ with targets at 1.5745$ next 1.5810$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5710$ with targets at 1.5645$ next 1.5605$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5815, 1.5930, 1.6000 , 1.6185

Support: 1.5660, 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9330 with targets at 0.9400 next 0.9455 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9330 with targets at 0.9275 next 0.9200 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9430, 0.9545, 0.9600, 0.9720

Support: 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 122.35 with targets at 122.80 next 123.15 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 122.35 with targets at 121.95 next 121.55 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 123.30, 124.60, 125.05, 125.80, 126.30

Support: 121.90, 121.45, 120.80, 118.30

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2435 with targets at 1.2515 next 1.2580 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2435 with targets at 1.2375 next 1.2295 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2505, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2420, 1.2320, 1.2250, 1.2150, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7690 with targets at 0.7725 next 0.7760 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7690 with targets at 0.7655 next 0.7615 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7770, 0.7850, 0.7860, 0.8030

Support: 0.7675, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6790 with targets at 0.6840 next 0.6895 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6790 with targets at 0.6735 next 0.6690 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6815, 0.6860, 0.6925, 0.6940, 0.7025, 0.7075

Support: 0.6745, 0.6685, 0.6630, 0.6570

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

Daily Market Review 30.06.2015

STOCKS 

General Motors No Longer NFL Sponsor: On Monday, it was announced that General Motors Co. (GM, +0.15%) has been replaced by Hyundai Motor Co. (005380, +1.12%) as an official sponsor of the National Football League (NFL). This means that the Korean car maker now has access to some of the most viewed sports events in the U.S. which include the NFL playoffs as well as the Super Bowl. Hyundai has not revealed how much they paid for this 4-year deal with NFL. In a statement issued on Monday, Hyundai commented that the company would now use the NFL trademarks across a variety of marketing channels. This would also include promotional materials, advertising and branded content. NFL currently has a fan base of 188 million people and the car maker will also ensure that they provide promotional cars for all major events throughout the year, including the Super Bowl. Meanwhile, General Motors also released a statement confirming that they had decided not to renew their NFL sponsorship and that their focus would now be directed on using these sponsorship resources in other areas. Added to this, the General Motors brand does currently have 7-year shirt sponsorship deal with Manchester United, the English soccer team, while the company also sponsors the Major League Baseball since 2005. General Motors is currently trading at $33.22 a share.

 

INDICES

On Monday, U.S. stocks ended lower with the S&P 500 index (SPX) suffering its worst one-day drop so far this year. This came in response to the unsuccessful debt negotiations in Greece which has now placed the country on the brink of fiscal collapse. Over the weekend, the negotiations between Greece and its creditors collapsed again and as a result, the Prime Minister of Greece, Alexis Tsipras, called for a referendum on whether to accept reform measures demanded by the country’s lenders. This referendum will now take place on the 5th of July. As a result, the SPX declined 2.1%, or 43.85 points, to 2,057.64. The benchmark index has now turned negative for the year and it has also fallen below a key technical support level. Analysts have suggested that we can expect to see further declines. Meanwhile, the Dow Jones Industrial Average (DJIA) also saw its largest 1-day drop in more than 2 years when the blue chip index declined 2%, or 350.33 points, to 17,596.35. Following the downward trend was the Nasdaq Composite index (COMP) which also declined 2.4%, or 122.42 points, to 4,958.47.

CURRENCIES 

In currency trading on Monday, the U.S. dollar (USD) pared gains against other currencies. This came despite the fact that data showed that in the month of May, pending home sales rose to their highest level since 2006. Meanwhile, concerns regarding the Greece debt crisis seemed to ease. According to the National Association of Realtors, in May, their pending home sales index increased by 0.9 percent. This missed expectations for an increase of 1.2% while pending home sales in April rose by 2.7 percent. The EUR/USD traded at 1.1149, down 0.13% while the GBP/USD traded at 1.5726, down 0.15 percent. Against the currencies in Canada, Switzerland and Japan, the greenback traded mixed with USD/CAD up 0.67% at 1.2404, with USD/CHF down 0.43% at 0.9288 and with USD/JPY down 0.80% and trading at 122.85. Also, the U.S. dollar index held steady at 95.60.

COMMODITIES 

On Tuesday, crude oil prices declined in early Asian trade. This came as investors shifted their focus to the U.S. stockpiles report due out later today which will provide more insight into the supply and demand of the commodity. WTI crude oil for delivery in August traded at $58.26 a barrel, down 0.13 percent, on the NYMEX. Meanwhile, on Monday, Brent crude oil for delivery in August traded at $61.98 a barrel, down 2.02%, or $1.28, on the Intercontinental Exchange (ICE) in London. Today, the API (American Petroleum Institute) will release its survey of stockpiles from the end of last week on crude and refined products stocks in the U.S.

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

Forex Pivot Points & Technical Analysis 29.06.2015

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 1.1200$ with targets at 1.1275$ next 1.1420$ in extension.

Alternatively, Short positions below the daily pivot point 1.1200$ with targets at 1.1060$ next 1.0985 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1050, 1.1150, 1.1285, 1.1350, 1.1470, 1.1500

Support: 1.1005, 1.0950, 1.0885

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5710$ with targets at 1.5750$ next 1.5810$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5710$ with targets at 1.5655$ next 1.5615$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5815, 1.5930, 1.6000 , 1.6185

Support: 1.5660, 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9255 with targets at 0.9360 next 0.9405 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9370 with targets at 0.9285 next 0.9255 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9415, 0.9545, 0.9600, 0.9720

Support: 0.9280, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.65 with targets at 124.05 next 124.40 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.65 with targets at 123.30 next 122.85 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80, 126.30

Support: 122.40, 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2330 with targets at 1.2370 next 1.2435 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2330 with targets at 1.2260 next 1.2220 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2425, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2320, 1.2250, 1.2150, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7670 with targets at 0.7710 next 0.7775 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7670 with targets at 0.7605 next 0.7565 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7670, 0.7770,  0.7850, 0.7860, 0.8030

Support: 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6845 with targets at 0.6875 next 0.6925 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6845 with targets at 0.6795 next 0.6765 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6925, 0.6940, 0.7025, 0.7075, 0.7205, 0.7280

Support: 0.6810, 0.6770, 0.6685

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

Daily Market Review 26.06.2015

STOCKS 

Nike Sales and Profit Rise: On Thursday, after the close of trading, Nike Inc. reported that its sales rose 4.8 percent during the quarter ended in May. Added to this, the athletic-gear maker also recorded growth in revenue across most of its markets worldwide. However, as a result of the stronger U.S. dollar (USD), future orders and revenue growth were negatively impacted. After the release of the earnings results which beat expectations, the shares of Nike traded at $107.95, up 2.6 percent. For the period ended May 31, Nike’s revenue increased from $7.43 billion a year earlier to $7.78 billion, while sales improved 13 percent, excluding the impact of a stronger greenback. According to analysts polled by Thomson Reuters, there were expectations that Nike’s revenue would increase to $7.69 billion, up 4 percent. Nike derives most of its income from footwear as well as North America yet more than half of its sales are derived from around the world and with foreign exchange pressures as well as economic pressures globally, this could impact the company’s revenue and margins in the long run. Overall, Nike reported a profit of 98 cents a share, or $865 million, which is up from a year ago at 78 cents a share, or $698 million. Analysts were expecting the company to report profit per share of 83 cents. Meanwhile, gross margin rose from 45.6% to 46.2% as a result of an increase in the company’s higher margin direct to consumer business as well as higher prices. In the latest period, Nike also used expensive sponsorships in order to increase its market share in sports such as basketball and soccer.

INDICES 

On Thursday, U.S. stocks ended the volatile trading session lower. Losses were led by energy and industrials companies which weighed on broader indexes which declined for the 2nd straight session. Added to this, the chief investment officer at Tower Bridge Advisors, James M. Meyer, stated that a weakness in transportation stocks is also weighing on markets. The Dow Transportation index (DJT) declined to 8,239.58, down 0.9% and this index is now down more than 10 percent from its peak that it reached on the 28th of November last year. The transport index is important as it is often considered to be a barometer of the health of the overall economy. At the close of trading, the Dow Jones Industrial Average (DJIA) declined 0.4%, or 75.37 points, to 17,890.360. Also on the downside was the Nasdaq Composite index (COMP) which dropped 0.2%, or 10.22 points, to 5,112.19 while the S&P 500 index (SPX) declined 0.3%, or 6.27 points, to 2,102.31.

CURRENCIES 

In forex trading on Thursday, the U.S. dollar pared gains in quiet trading. This came after positive economic reports out of the U.S. while investors continued to monitor the ongoing negotiations around the Greek debt crisis. According to a report by the Commerce Department, in May, personal spending rose by 0.9%. This beat expectations for a gain of 0.7 percent while personal spending in April rose by only 0.1%. Added to this, the report also showed that in May, personal income rose by 0.5% which was in line with forecasts. Meanwhile, in a separate report, the U.S. Department of Labor said that the number of people filing for jobless benefits for the first time in the week ending on the 20th of June, increased to 271,000, up 3,000. The previous week’s total was at 268,000. The EUR/USD traded steady at 1.1200 while the GBP/USD traded at 1.5744, up 0.24%. Against the Japanese yen and the Canadian dollar, the greenback traded lower with USD/JPY down 0.21% at 123.58 and with USD/CAD down 0.31% and trading at 1.2347. Also, the U.S. dollar index was steady at 95.39.

COMMODITIES 

On Friday, crude oil prices declined in early Asian trade. This comes as investors focus on the oil rig count by Baker Hughes expected today, which is a key gauge of production intentions in the U.S. as well as the scope for demand while the economy shows clear signs of growth. Expectations are that the oil services firm could report a draw in oil rigs for the 29th consecutive week, after reporting last week that the oil rigs in the U.S. declined by 4 to 631 for the week ending on the 19th of June. Meanwhile, WTI crude for delivery in August traded at $59.64 a barrel, down 0.09% on the NYMEX. On Thursday, Brent crude oil for delivery in August traded at $63.25 a barrel, down 0.38%, or $0.24, on the Intercontinental Exchange (ICE) in London.

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Forex Pivot Points & Technical Analysis 25.06.2015

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 1.1230$ with targets at 1.1320$ next 1.1440$ in extension.

Alternatively, Short positions below the daily pivot point 1.1230$ with targets at 1.1110$ next 1.1020 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1350, 1.1470, 1.1500, 1.1680

Support: 1.1150, 1.1130, 1.1030, 1.1005, 1.0885

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5725$ with targets at 1.5780$ next 1.5860$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5725$ with targets at 1.5645$ next 1.5585$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5800, 1.5930, 1.6000 , 1.6185

Support: 1.5660, 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9310 with targets at 0.9410 next 0.9490 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9310 with targets at 0.9235 next 0.9135 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9405, 0.9545, 0.9600, 0.9720

Support: 0.9280, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.95 with targets at 124.25 next 124.65 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.95 with targets at 123.60 next 123.30 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80, 126.30

Support: 122.40, 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2360 with targets at 1.2445 next 1.2510 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2360 with targets at 1.2300 next 1.2215 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2425, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2320, 1.2250, 1.2150, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7695 with targets at 0.7710 next 0.7715 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7695 with targets at 0.7695 next 0.7680 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance:0.7770,  0.7850, 0.7860, 0.8030, 0.8165

Support: 0.7670, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6880 with targets at 0.6915 next 0.6940 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6880 with targets at 0.6855 next 0.6825 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6940, 0.7025, 0.7075, 0.7205, 0.7280, 0.7315, 0.7390, 0.7420

Support: 0.6810, 0.6770, 0.6685

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