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. 

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. 

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