7May
eurgbp-EU-UK-flag-split

EUR/GBP: Forex Technical Analysis

EUR/GBP Technical Strategy: Flat

  • Euro bounce back brings costs toward 2-month high versus British Pound
  • General direction characterized by falling channel set from October 2017
  • Sitting tight for noteworthy flag, enhanced hazard/remunerate setup for exchange

The Euro keeps on creeping upward against the British Pound however the overwhelming value slant keeps on favoring a drawback predisposition for the single money. The match has recouped to the most abnormal amount in almost two months however value activity remains solidly bolted inside a falling channel set from October 2017.

Real protection comes in at 0.8904, the juncture of a previous outline emphasis point and in addition the pattern channel top. A nearby over that affirmed on a day by day shutting premise uncovered the March 7 high at 0.8968. Then again, a turn underneath protection turned-bolster at 0.8797 targets counter-drift bolster at 0.8730.

7-5
Costs are excessively near prompt protection from legitimize entering long from a hazard/compensate point of view. Then again, the nonattendance of an unmistakably characterized beating signal cautions against taking up the short side to wager on bearish pattern resumption prematurely. On adjust, standing aside appears to be most sensible for the present.

 

4May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

4may2

                                                                                             Comex Gold Signal 

4may3

4may4

INTERNATIONAL COMEX NEWS

  • Gold prices moved higher on Thursday, buoyed by a slightly softer dollar but the upside for the precious metal looked likely to remain limited ahead of Friday’s U.S. employment report, which could provide fresh impetus to the dollar. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $4.40 or 0.34% to $1,310.20 a troy ounce by 03:57 AM ET (07:57 AM GMT).
  • Crude prices edged higher in early action on Thursday, shrugging off concerns over a rise in U.S. oil inventories and record weekly domestic production. New York-traded WTI crude futures tacked on 19 cents, or roughly 0.3%, to $68.12 a barrel by 4:00AM ET (0800GMT). It rose 68 cents on Wednesday, bouncing back from earlier weakness that was driven by data showing a larger-than-expected weekly climb in U.S. crude supplies.
  • Reuters reports the latest headlines, citing that Chinaopens trade in Dalian iron ore futures to foreign investors from today. The move is mainly aimed to boost its pricing clout for one of its top imports. “Iron ore is the second commodity China is opening to outside investors after launching crude oil futures in late March.

ECONOMY NEWS

  • A slump in Saudi Arabia’s economy cast a shadow over ambitious plans for reform this week as top officials met businessmen to discuss freeing the kingdom from its dependence on oil exports. At a conference with hundreds of foreign and local bankers and potential investors, ministers said privatizations and partnerships between the government and private companies to build infrastructure projects would begin within months.
  • Europe’s economic slowdown came sooner than expected and factors holding back growth may persist in the near term but the European Central Bank is still making “substantial” progress in lifting inflation, ECB Chief Economist Peter Praet said. Downplaying the impact of weak data, Praet said growth remains solid, the slowdown may be due to exceptional factors, and there are only a few signs that the euro’s appreciation in the past year is weighing on growth.
  • The concept of global excess capacity, commonly used to support the creation of trade defense against China, is imprecise and unsound as a justification for U.S. protectionism, a study by a Swiss-based trade watchdog said on Thursday. Global Trade Alert, an initiative coordinated by Simon Evenett, professor of international trade at St Gallen University in Switzerland, sought to quantify excess capacity, especially in steel, and the damage to global trade.

4may1

 

3May
eur/usd

EUR/USD : Forex Technical Analysis

EUR/USD Technical Strategy: SHORT AT 1.2407

  • Euro draws back from 10-year protection, breaks counter-slant bolster
  • Break beneath prompt help opens the way to test underneath 1.18
  • Searching for enhanced hazard/compensate settings to add to short position

The Euro hopes to have denoted a noteworthy drawback inversion, finishing a here and now uptrend and continuing 10 years in length decrease against the US Dollar. Costs withdrew from long-running channel protection from finish off April underneath slant line bolster managing the remedial rise from December 2016.

3-5-1

Close term bolster is currently at 1.1937, the 61.8% Fibonacci development. An every day close underneath that opens the entryway for a trial of help rack bolster at 1.1713. Then again, a move back over 1.2055-92 zone (half level, September 8 high) makes ready for a trial of the 1.2154-73 zone (blockage are low, 38.2% Fib).

3-5-2

Half of the short EUR/USD exchange from 1.2407 stays in play after halfway benefit was reserved at the position’s underlying target. The match is excessively near prompt help to influence adding to introduction to seem sensible from a hazard/compensate point of view. Chances to do as such on a break or skip will be effectively looked for notwithstanding.

 

3May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

3may1

 

                                                                                             Comex Gold Signal

3may2

3may3

INTERNATIONAL COMEX NEWS

  • Gold prices reversed early gains on Wednesday, to close back in on two month lows ahead of a Federal Reserve meeting that is expected to point to another two or possibly even three rate hikes this year. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $1.60 or 0.12% to $1,305.00 a troy ounce by 10:46 AM ET (14:46 GMT), closing back in on Tuesday’s low of $1,302.40, which was the weakest since March 1.
  • Crude prices turned lower on Wednesday, after data showed that U.S. oil stockpiles rose much more than expected last week, while domestic production hit another all-time high. New York-traded WTI crude futures shed 20 cents, or roughly 0.3%, to $67.06 a barrel by 10:35AM ET (1435GMT). Prices were at around $67.31 prior to the release of the inventory data.
  • Natural gas futures were under pressure on Wednesday morning, as market players looked ahead to weekly data from the U.S. which is expected to show the first storage build of the injection season. Front-month U.S. natural gas futures lost 3.6 cents, or around 1.3%, to $2.766 per million British thermal units (btu) by 9:40AM ET (1340GMT). The commodity gained 3.9 cents, or 1.4%, on Tuesday, thanks to lingering winter-like weather conditions.

ECONOMY NEWS

  • Concerns about an imminent end to the euro zone’s economic expansion are exaggerated while expectations of a European Central Bank rate hike towards the middle of next year remain realistic, Germany’s representative on the bank’s policy-making body said. “Some observers already see evidence of an approaching end to the upswing in the recent economic slowdown,” Jens Weidmann told an audience in Mannheim, Germany. “However, I think such worries are exaggerated.”
  • The U.S. government called off negotiations with Brazil on tariffs over U.S. protectionist measures and reinstated tariffs and quotas on imports of Brazilian steel and aluminum, according to a statement by the Brazilian government on Wednesday. The United States had announced on April 30 that it had reached a preliminary agreement with Brazil. But negotiators had broken off talks on April 26, giving the Brazilian industry the choice of picking between tariffs or quotas, the statement said.
  • Chinese property speculators are starting to bet on a rapid improvement in relations between North Korea and the rest of the world, pushing up prices in the border city of Dandong and even spurring buying interest in the world’s most isolated country. Last week, online Chinese real estate investment platform Uoolu.com released a guide for Chinese buyers interested in North Korean real estate, while popular accounts on the mobile messaging app WeChat have been posting articles about the country’s housing market in recent weeks.

3may4

2May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

2may1

                                                                                               Comex Gold Signal

2may2

2may3

INTERNATIONAL COMEX NEWS

  • Gold prices fell to fresh two-and-a-half month lows on Tuesday, pressured lower by a stronger dollar ahead of the Federal Reserve’s latest policy decision and the U.S. jobs report later this week. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $9.20 or 0.7% to $1,310.00 a troy ounce by 04:21 AM ET (08:21 AM GMT), the lowest level since March 19.
  • The United States moved up to second place in a ranking of the most attractive countries for renewables investment, after China, a report by UK accountancy firm Ernst & Young showed on Tuesday. In an annual ranking of the top 40 renewable energy markets worldwide, China was the top country for the third year running, followed by the United States which had occupied third place last year due to a shift in U.S. energy policy under President Donald Trump.
  • Crude prices were under pressure on Tuesday, as investors turned their attention to fresh data on U.S. commercial crude inventories to gauge the strength of demand in the world’s largest oil consumer and how fast output levels will continue to rise. Industry group the American Petroleum Institute is due to release its weekly report at 4:30PM ET (2030GMT). Official data from the Energy Information Administration will be released Wednesday, amid forecasts for an oil-stock gain of around 1.2 million barrels.

ECONOMY NEWS

  • Canada has repeated its position that imposing punitive measures would hurt jobs in both countries, in reaction to U.S. President Donald Trump’s decision to postpone the imposition of steel and aluminum tariffs. The Trump administration said on Monday that tariffs on steel and aluminum from Canada and Mexico would be suspended until June 1.
  • Swiss prosecutors said on Tuesday they were investigating two officials from Saudi energy group PetroSaudi International as part of a wider inquiry into the suspected theft of assets from Malaysia’s 1MDB state fund. PetroSaudi said on Tuesday it was not itself the subject of any criminal investigations, denied any wrongdoing linked to its joint venture with the Malaysian fund, and said none of its officials had been involved in misappropriating any funds.
  • German Economy Minister Peter Altmaier called on Tuesday for a trade agreement between the European Union and the United States to relieve uncertainty about tariffs that he said is a problem for many businesses. “I am firmly convinced that in the interests of jobs in Germany, in Europe and in the USA, we need a long-term provision and that raising tariffs is the wrong way. We need fewer, not more duties in global trade,” Altmaier told reporters.
1May

Malaysia Managed To Mark Fourth Week Of Inflow

Bursa Malaysia recorded the second lowest foreign inflows last week since January, as the pace of foreign funds exiting.  Asia accelerated over the seven-day period.

In its weekly fund flow report, MIDF Research said Bursa Malaysia has managed to mark its fourth week of continuous inflows with a net inflow of RM24.6mil, even as foreign inflows into the local bourse took a breather last week.While the lower foreign fund inflows was primarily attributed to the concerns on rising US Treasury yields, attrition on Bursa Malaysia gradually eased on April 26, on the back of stable crude oil prices.Despite the slower pace of foreign fund inflow, foreign participation in Bursa Malaysia has remained robust

41989118.1 (41989891) - 21_03_2017 - HONGKONG-MARKETS_HSHARES_0

RHB Retail Research said the upside development for the FBM Small Cap Index (FBMSC) may still be extended once the breather (since April 16) ends.In a technical analyser today, the research house said the FBMSC registered a 67.66-point increase to 14,545.46 points last Friday. “It left a white candle after oscillating between a low of 14,475.81 points and high of 14,545.46 points. “This shows a continuation of the momentum we highlighted in the appearance of April 26′s ‘Bullish Harami’ candlestick pattern. “Presently, the index continues to hover steadily above the 13,719-point support level. This implies that the near one-month bullish bias remains in play,” it said

1May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

1may1

                                                                                      Comex Gold Signal

1may2

1may3

INTERNATIONAL COMEX NEWS

  • Gold prices held steady in early morning European trade on Friday as investors looked ahead to U.S. data on first quarter economic growth. Comex gold futures slipped $0.80, or 0.06%, at $1,317.100 a troy ounce by 3:33AM ET (7:34GMT). The preliminary reading of first-quarter U.S. GDP at 8:30AM ET (12:30GMT) is expected to show the economy expanded 2.0%, down from the fourth quarter growth of 2.9%.Despite the slowdown, the U.S. economy is currently in its second longest economic expansion since World War II.
  • Oil traded near $68 as investors weighed the impact of a potential U.S. pull-out from the Iran nuclear deal and the historic meeting between the leaders of North and South Korea.Futures in New York slipped 0.4 percent, on course for a 0.7 percent drop this week. French President Emmanuel Macron earlier this week predicted President Donald Trump will exit the Iran agreement, while U.S. Defense Secretary Jim Mattis said Thursday a decision on a withdrawal hasn’t been made. North Korean leader Kim Jong Un and South Korean President Moon Jae-in agreed to finally end seven decades of hostile relations this year.Oil this month touched the highest level in more than three years as speculation swirled over the potential breakup of the nuclear accord that Iran signed with world powers in 2015.

ECONOMY NEWS

  • Britain’s GDP figures are clearly disappointing but the government is not complacent and is investing billions in infrastructure and the economy, Prime Minister Theresa May’s spokesman said on Friday.Britain’s economy slowed much more sharply than expected in the first three months of 2018, figures from Britain’s statistics office showed on Friday.”The figures today are clearly disappointing, but the fundamentals of our economy our strong. It has grown every year since 2010 and unemployment is at a 40 year low, but we are not complacent,” the spokesman told reporters.Asked whether uncertainty over Brexit had hurt economic growth, the spokesman said: “Growth was stronger than many expected after the referendum and what the government has been working towards is providing certainty for businesses.”
  • The European Central Bank urged Greece to conclude reforms agreed with its euro zone creditors in time to successfully exit its bailout programme in August.Concluding the last batch of reforms on time was of the “utmost priority for Greece,” ECB board member Benoit Coeure told a news conference in Sofia, the Bulgarian capital.
30Apr

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

30april1

 

                                                                                               Comex Gold Signal

30april2

30april3

INTERNATIONAL COMEX NEWS

  • Gold prices held steady in early morning European trade on Friday as investors looked ahead to U.S. data on first quarter economic growth. Comex gold futures slipped $0.80, or 0.06%, at $1,317.100 a troy ounce by 3:33AM ET (7:34GMT). The preliminary reading of first-quarter U.S. GDP at 8:30AM ET (12:30GMT) is expected to show the economy expanded 2.0%, down from the fourth quarter growth of 2.9%.Despite the slowdown, the U.S. economy is currently in its second longest economic expansion since World War II.
  • Oil traded near $68 as investors weighed the impact of a potential U.S. pull-out from the Iran nuclear deal and the historic meeting between the leaders of North and South Korea.Futures in New York slipped 0.4 percent, on course for a 0.7 percent drop this week. French President Emmanuel Macron earlier this week predicted President Donald Trump will exit the Iran agreement, while U.S. Defense Secretary Jim Mattis said Thursday a decision on a withdrawal hasn’t been made. North Korean leader Kim Jong Un and South Korean President Moon Jae-in agreed to finally end seven decades of hostile relations this year.Oil this month touched the highest level in more than three years as speculation swirled over the potential breakup of the nuclear accord that Iran signed with world powers in 2015.

ECONOMY NEWS

  • Britain’s GDP figures are clearly disappointing but the government is not complacent and is investing billions in infrastructure and the economy, Prime Minister Theresa May’s spokesman said on Friday.Britain’s economy slowed much more sharply than expected in the first three months of 2018, figures from Britain’s statistics office showed on Friday.”The figures today are clearly disappointing, but the fundamentals of our economy our strong. It has grown every year since 2010 and unemployment is at a 40 year low, but we are not complacent,” the spokesman told reporters.Asked whether uncertainty over Brexit had hurt economic growth, the spokesman said: “Growth was stronger than many expected after the referendum and what the government has been working towards is providing certainty for businesses.”
  • The European Central Bank urged Greece to conclude reforms agreed with its euro zone creditors in time to successfully exit its bailout programme in August.Concluding the last batch of reforms on time was of the “utmost priority for Greece,” ECB board member Benoit Coeure told a news conference in Sofia, the Bulgarian capital.

30april4

27Apr

FBM KLCI index gained 0.34 points

The FBM KLCI index gained 0.34 points or 0.02% on Thursday. The Finance Index increased 0.25% to 18221.48 points, the Properties Index up 0.97% to 1070.37 points and the Plantation Index rose 0.14% to 7965.22 points. The market traded within a range of 17.03 points between an intra-day high of 1863.57 and a low of 1846.54 during the session. Actively traded stocks include SAPNRG, NEXGRAM, HSI-H4A, PUC, HSI-C3E, HSI-C4B, BORNOIL, HIS-H2Z, SKH and KSTAR-WA. Trading volume increased to 2046.23 mil shares worth RM2133.74 mil as compared to Wednesday’s 1874.24 mil shares worth RM1972.44 mil. Leading Movers were KLCC (+19 sen to RM7.21), DIGI (+8 sen to RM4.57), ASTRO (+2 sen to RM1.81), SIMEPLT (+6 sen to RM5.56) and GENM (+5 sen to RM4.93). Lagging Movers were AXIATA (-14 sen to RM5.16), NESTLE (- 260 sen to RM136.50), AMMB (-5 sen to RM3.73), GENTING (-9 sen to RM8.66) and MISC (-7 sen to RM7.01). Market breadth was positive with 442 gainers as compared to 349 losers. The KLCI closed flat with 0.34 points higher at 1852.27 points with overnight mixed performance in US market. The performance of our local bourse remained muted as lack of fresh catalyst.

 

Report blog

 

Bursa Malaysia joined the other key Asian markets to close higher on Friday, as a rebound in Axiata, Maybank and Genting shored up the FBM KLCI. Trading volume was relatively subdued ahead of the General Election 14 on May 9. At 5pm, the KLCI was up 11.2 points or 0.6% to 1,863.47 and year-to-date it is up 3.71%.  Turnover was just 1.63 billion shares valued at RM1.87bil. There were 452 gainers, 338 losers and 423 counters unchanged. All key Asian markets closed higher led by Hong Kong’s Hang Seng Index, up nearly 1%, Japan’s Nikkei 225 gained 0.66%, China’s Shanghai Composite added 0.23%, South Korea’s Kospi 0.68% and Singapore’s STI ended up 0.2%. The ringgit fell against the US dollar, down 0.04% to 3.9193. However, it was firmer against the pound sterling , up 0.67% to 5.4149; advanced 0.79% to the euro to 4.7309 and was uo 0.01% to the Singapore dollar at 2.9514. Consumer stocks were among the top gainers, with Nestle up RM1.90 to RM138.40, F&N gained 48 sen to RM35.94, Carlsberg 22 sen to RM19.70 but BAT lost 38 sen to RM24.32, Ajinomoto lost 28 sen to RM21.82 and Dutch Lady

24Apr

KLCI stumbled to close at Tuesday’s low of 1,865

Last Thursday on April 19, the FBM KLCI closed at a record high of 1,895 but this seems like a fading memory for investors. As fast as the KLCI went up, it has surrended 30 points over the past three days on Tuesday.
The KLCI stumbled to close at Tuesday’s low of 1,865, down 15.02 points or 0.8%, ahead of the General Election on May 9. Turnover was 1.93 billion shares valued at RM2.32bil.  Declining stocks beat advancers three to two or 574 losers to 291 gainers with 386 counters unchanged. The KLCI was the second worst performer after Taiwan’s 1.1% fall, despite the rally in crude oil prices.

13 - 4

China stocks posted their strongest gains in two months on Tuesday as the Communist Party declared its determination to achieve this year’s economic targets in the face of rising global trade tensions.  The Shanghai Composite Index closed up 1.99%, Hong Kong’s Hang Seng Index added 1.26% while Japan’s Nikkei 225 closed 0.86% higher. Nearer home, Sinhgapore’s STI was up 0.14%. The ringgit slipped against the US dollar and the Singapore unit. It fell 0.19% against the greenback to 3.9053 and was down 0.17% to the Singapore dollar at 2.9523. However, it eked out a 0.01% gain against the pound sterling to 5.4495 and gained 0.05% to the euro at 4.7663.

Oil rose on Tuesday above US$75 a barrel to its highest since November 2014, supported by OPEC-led production cuts, strong demand and the prospect of renewed US sanctions on Iran, Reuters reported. US light crude oil rose 27 cents to US$68.91 and Brent added 14 cent s to US$74.85.  Crude palm oil for third month  delivery fell RM6 to RM2,402 per tonne. KL Kepong shed two sen to RM25.50, IOI Corp and PPB Group unchanged at RM4.78 and RM19.10.

Despite the rally, Petronas Dagangan fell 50 sen to RM27 and Petronas Gas was down 26 sen to RM17.96 while Petronas Chemicals gained three sen to RM8.49. BAT was the top loser, sliding RM1 to RM24 while Nestle gave up 50 sen to RMRM147.50 and Heineken lost 22 sen to RM20.60. Under pressure again was Press Metal, falling 31 sen to RM4.79 with 18.3 million shares done. It erased 2.15 points from the KLCI. Its warrants, WC fell more, sliding 53 sen to RM4.28 as aluminium prices slid. Aluminium prices had falled more than 7% to US$2,295 on the London Metal Exchange. Axiata erased 1.95 points from the KLCI when it fell 12 sen to RM5.33. Telekom lost 13 sen to RM5.24, Maxis seven sen lower at RM5.82 while Digi lost four sen to RM4.45. Among the heavyweights, Tenaga was flat at RM15.88  was down 11 sen to RM8.75 and Genting Malaysia six sen lower at RM5.02.

 


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