अकादमी

वित्तीय बाजार और उत्पादों के भविष्य के रुझानों में नवीनतम आंदोलनों को जल्दी से समझें।
आगे की रिपोर्ट में Pacific Union बाजार में सभी।

जानें खरीदें और बेचें?हमारे ट्रेडिंग अकादमी में अधिक डिस्कवर

शुरू हो जाओ

बाजार आगे

2020124
Share
FacebookTwitterLinkedInWeChatShare

Major indices have reached a record high for the third consecutive day, led by energy, industrial, and aviation industry

Market Focus U.S. stocks extended record gains while the U.S. dollar dipped on Thursday as investors weighed prospects for a fresh fiscal support from the White House. Major indices have reached a record high for the third consecutive day, led by energy, industrial, and aviation industry. Major indices surpassed their previous closing records; such synchronized highs were seen in January …

Market Focus

U.S. stocks extended record gains while the U.S. dollar dipped on Thursday as investors weighed prospects for a fresh fiscal support from the White House. Major indices have reached a record high for the third consecutive day, led by energy, industrial, and aviation industry. Major indices surpassed their previous closing records; such synchronized highs were seen in January 2018. The main driver to boost the markets was mainly on the prospects for a new Covid-19 relief package as Senate Majority Leader Mitch McConnel pointed out that a Covid stimulus compromise is within reach, hoping to strike for a deal before the end of the year.

OPEC resumed talks from Tuesday after it became clear that they had been unable to reach an agreement. Today, oil mininsters from the 23-member groups, including most of the world’s largest crude oil producers, decided to reconvene the meeting. The main discussion concentrated on a rollover of current oil ourpurs cuts into January followed by a gradual increase of about 500,000 barrels each day. Moreover, OPEC reviewed the output strategy on a monthly basis in the year of 2021.

An announcement, made by Pfizer, potentially makes markets drop in risk-off as Pfizer cut coronavirus vaccine rollout target on supply- chain obstacles. Before, Pfizer was hoping to distribute 100 million vaccines by the end of the year, but now has been reduced to 50 million. Nonetheless, Pfizer still expects to roll out over 1 billion vaccines in the year of 2021. In response, the S&P 500 slided in the beginning of the announcement, but recovered afterward as there are still other vaccine candidates, whom the FDA will choose later this month.

Market Wrap

Main Pairs

The euro dollar continued to strike for the third straight day on Thursday. With the prospect for a fiscal stimulus plan, the U.S. dollar Index slumped to its lowest level in more than two years at 90.61 as of writing. Along with the stimulus plan, investors seemed to perform USD sell-off ahead of tomorrow’s U.S. Non-Farm Payroll data. Notably, the positively economic data, Initial Jobless Claims of 712,000, did little to nothing to limit the downside pressure on the Dollar Index.

Crude oil price got pushed higher after OPEC has reached an agreement to ease its oil-outputs cuts for next year. A gradual tapering falls short is going to add 500,000 barrels per day of production to the market. Crude oil price is still expected to rally despite of the additional production because today’s revision is still likely to keep the oil market in deficit throughout the first quarter of 2021, which means that oil inventories will continue to drain, leading the oil price to get boosted.

The British Pound strengthened against its rivals in the first half of Thursday, then weakening after Brexit talks turned out to go worse this afternoon. According to a senior government source, the EU brought new elements into the negotiation, making the prospect recede. In the meantime, fishing industry seemed to become a deal breaker as Boris Johnson could not give up on fishing. As of now, the latest round of talks seemed to take a turn for the worse.

Technical Analysis

EURUSD (Daily Chart)

On the daily time frame, EURUSD is overbought as it is currently trading above the upper band of Bollinger Band, suggesting a pullback, the RSI indicator is above the 70th benchmark. However, the pair seems to remain its bullish momentum, continuing to advance in the long-term; the 100 SMA has finally came to merge with the 50 SMA, looking ahead to advance with the 50 SMA and potentially surpass it; that being inplied, EURUSD is looking to keep up its bullish status in the long-term. Current overbought condition may result in a corrective decline, buy side will likely add at lower prices. Resistance awaits at 1.2178 while a critical support awaits at 1.1967-1.2000.

Resistance: 1.2178

Support: 1.1967, 1.1875, 1.1637, 1.1164 

GBPUSD (4 Hour Chart and Daily Chart)

GBPUSD is trading in the 1.3400 price zone as the U.S. trading session comes to an end, remaining its bullish stance on the daily chart. The pair seems to almost reach the overbought condition as the RSI has reached the 65th mark and the pair has closely touched the upper band of Bollinger Band. However, the pair is looking to continuously advance in the long-term along with trading above the 50 SMA and upside trend. An overbought condition might lead to a correction as shown in the 4-hour chart. The price range will likely fall at 1.3509-1.3277.

Resistance: 1.3509

Support: 1.3277, 1.3075, 1.2922

USDJPY (Daily Chart)

USDJPY continues to trade inside the bearish channel as the U.S. session comes to an end. In the short-term, the U.S. dollar is unable to edge higher as it fails to contest the resistance of 105.16. As of now, the pair continues to consolidate as it is trading on the mean of Bollinger Band and the RSI is showing a neutral condition.

Resistance: 105.16, 106.63

Support: 103.17

FacebookTwitterLinkedInWeChatShare
Pack Up
2020123
Share
FacebookTwitterLinkedInWeChatShare

Euro-dollar rose as much as 0.36% and once hit 1.211, the highest level since April 2018

Market Focus US equity market was slightly positive, with Dow Jones Industrial Index gaining 0.2% and S&P 500 Index up 0.15%. Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin will facing a second day of questioning at the House Finance Committee. Both authorities continued to demand additional fiscal suppor for the economy as congressional leaders continue to negotiate …

Market Focus

US equity market was slightly positive, with Dow Jones Industrial Index gaining 0.2% and S&P 500 Index up 0.15%. Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin will facing a second day of questioning at the House Finance Committee. Both authorities continued to demand additional fiscal suppor for the economy as congressional leaders continue to negotiate a new package. Powell emphersized that vaccines are a cause for medium-term optimism, saying “people will regain confidence that they can gather variuous activities that now seem too risky because of Covid, and that will have a very positive effect on economic activity.”

UK medical regulator approved the coronavirus vaccine developed by Pfizer Inc. and BioNTech SE, and said the vaccine will be available in UK from next week. Meanwhile, BioNTech is awaiting a decision from the FDA in the middle of December. The agency staffs and private experts will examine raw clinical trial data and checking Pfizer’s calculations as well as reviewing information on the manufacturing process, the process usually takes 6 to 10 months.

RBA Governor Phlip Lowe testified in front of Economics Committee, where he expanded on RBA’s view on housing and optimism on Australian economy. Lowe strongly opposed to negative policy rates, but commented that RBA needs to remain creative about using monetary policy tools in 2021. Furthermore, the board is not worried about rising house prices and says now is a good time to buy a home for first-time buyers.

Market Wrap

Main Pairs

Euro-dollar rose as much as 0.36% and once hit 1.211, the highest level since April 2018. Risk appetite is boosted when Mnuchin said Donald Trump will sign Mcconnell’s stimulus proposal. The US Dollar Index dropped another 0.32% to 91.01. November ADP Nonfarm Employment Change released on Wednesday adds to dollar weakness, the figure shown 307,000 jobs was added in November, which came short of expection 410,000.

Cable suffered 0.41% loss on Wednesday as PM Boris Johnson’s spokesman restated that UK’s position on the Internal Market Bill remains unchanged. Despite broad dollar weakness, the Pound found itself on the wrong side. EU Brexit negotiator Michel Barinier told EU delegates that talks are still stuck around three main issues, namely fisheries, governancem and a level playing field. With the year-end deadline closing in, investors are concerned that a no-deal will still be dicstinctly possible as UK officials push for approval of the Internal Market Bill.

The Swiss Franc outweighed the US greenback by 0.6%, USDCHF dropped to 0.8946, the lowest level since January 2015. On the other hand, the safe-haven peer Japanese Yen was on the defensive against US dollar, USDJPY recovered 0.09% as a result.

Technical Analysis

EURUSD (Daily and Monthly Chart)

Euro-dollar broke the ascending trendline from above and went on a rampage, soared more than 1.4% in two days, not something we have seen since March when market lost control. Further upside was temporarily capped by 1.21 hurdle, and investors usually expect a pullback after such abrupt appreciation, good place to fall back would be the 1.2 handle. Zooming out to the monthly chart, the bulls finally stood above the long depressing trendline since 2008, and look to visit 38.2% Fibonacci of 1.25. It is somewhat skeptical that the euro could stage any solid move beyond 1.21 by year-end, albeit the bullish trend remains very mcuh intact in the longer timeframe.

Resistance: 1.21, 1.216, 1.221

Support: 1.2, 1.182, 1.186 

USDCHF (Daily and Weekly Chart)

USDCHF was unable to shake off strong selling bias after failing to conquer the descending trendline back in November. Previous support at 0.9, which help to defend sellers’ attack three times this year, was once under siege and finally surrendered amid broad dollar weakness. On the weekly chart, we observed that price was rejected before the completion of a W formation, which usually opens door to the downside. The nearest support for USDCHF will be around 0.891, followed by 0.8724, price levels not seen since the 2015 black swan event that put Swiss Franc significantly overvalued to other major currencies.

Resistance: 0.903, 0.916

Support: 0.891, 0.8724

XAUUSD (Daily Chart)

Gold managed to rebound modestly upon failing to penetrate 50% Fibonacci support of 1765. The precious metal is on a two-consecutive climb, recovered nearly 3%. It is currently looking to contest previous support band between 1838 and 1856, if this level could defend itself and establish a roadblock for further upside movement, then current retracement could be viewed as a confirmation of a sustainable bearish run. That being said, price would attempt to breach 1765 support if its upside is limited. In case any market headlines reviving risk-off mood, the red trendline should somewhat restraint price from heading further north. MACD on the daily chart shows a fatigued bearish trend.

Resistance: 1838, 1856, 1930

Support: 1765, 1691, 1600

FacebookTwitterLinkedInWeChatShare
Pack Up
2020122
Share
FacebookTwitterLinkedInWeChatShare

Kiwi continues to march higher against the U.S. dollar, trading above 0.7050

Market Focus U.S. stock markets started with a bullish mode with a rebound from Monday’s retreat to start the last month of 2020, December. After the testification from the U.S. Treasury Sec. Mnuchin, the risk- on mood boosted all three major U.S. indices as Mnuchin pointed out that the Fed is looking for more fiscal responses for the purpose of …

Market Focus

U.S. stock markets started with a bullish mode with a rebound from Monday’s retreat to start the last month of 2020, December. After the testification from the U.S. Treasury Sec. Mnuchin, the risk- on mood boosted all three major U.S. indices as Mnuchin pointed out that the Fed is looking for more fiscal responses for the purpose of assisting small businesses. For the response, the Dow Jones Industrial Averages went positive, the S&P500 and Nasdaq got powered to record highs as of wirting.

News that Brexits talks have entered the tunnel, hoping to come up with a deal by the end of the week. Although neither side has officially confirmed the status of Brexit yet, both sides never deny it as well. Some believed that compromises have been reached to the major points, the remainings are fisheries, level playing field, and state aids. As a response, the Pound Sterling has significantly taken the news that way, turning positive against major peers. Moreover, along with the progress on Brexit talks, the U.K. is to table its long awaits financial bill next week but anticipated controversial clauses to override the Brexit withdrawl agreement are expected to be axed if a trade deal is struck beforehand.

Market Wrap

Main Pairs

The euro dollar is once again challenging 1.2000 barrier against the dollar to start the first day of December. The weaker U.S. dollar is weighted on the development of an effective coronavirus vaccine in the upcoming months and the potential fiscal stimulus after Mnuchin’s speech, urging to see a fiscal response that can be passed quickly. From the euro side, the euro is held by the positive news on the German jobless rate, ticking lower in the month of November while preliminary inflation figures in the broader euro area see the headline, core CPI contracting at a monthly 0.3% during last month.

Gold rebounds above $1,800 as the safe- heaven U.S. dollar remains under pressure. After several days of downside pressure, gold is finally having the best day, up by more than $30 from Monday’s close. Nonetheless, gold’s rally does not go too further despite of the weakness of the U.S. dollar due to risk appetite on the back of higher U.S. yields; the 10- year treasury yields jumps to 0.925%, which is the highest since mid- November.

Kiwi continues to march higher against the U.S. dollar, trading above 0.7050. Although New Zealand’s economic data, Terms of Trade for Q3 is down 3.5% for export prices and down 1.0% for import prices, respectively, Kiwi continues to outperform mainly because the trade dependent country, New Zealand, is optimistic and looking to benefit from expected improvements in global trade and travel conditions in 2021 as the world received coronavirus vaccines and international relations get eased with Joe Biden’s presidency.

Technical Analysis

NZDUSD (4 Hour Chart)

NZDUSD continues to edge higher, testing its resistance of 0.7065, near the high of the beginning of July 2018. The NZDUSD pair is trading above the 50 SMA on the 4 hour chart, favoring a buy position that can take advantages. Moreover, even though the pair seems to reach the upper band of Bollinger band, suggesting a retreat, both RSI and MACD indicators seem to disagree on the pullback; that being said, there is still room for the pair to grow higher. Support awaits at 0.7012, followed by 0.6942 and 0.6871, while resistance awaits at 0.7064.

Resistance: 0.7064

Support: 0.7012, 0.6942, 0.6871

GBPUSD (4 Hour Chart)

The GBPUSD pair surges beyond 1.3391 today. On the 4-hour chart, GBPUSD joins sustained trading above the 20 SMA, directing a buy position toward the November high. Both RSI and MACD suggest that the pair is expected to continue its bullish momentum. Adding to that, a breakout of the upper band on Bollinger band is less likely to result in a pullback; instead, a breakout will lead to a new pattern of growth for the Pound Sterling. Support awaits at 1.3391, followed by 1.3300 and 1.3160; resistance awaits at 1.3446, an intraday peak.

Resistance: 1.3446

Support: 1.3391, 1.3300, 1.3160

EURUSD (4 Hour Chart)

The EURUSD pair has eventually broken through 1.2000 level, a long time high. On the 4- hour chart, the pair has once breached the upside trend, but recovered above it afterward. As of writing, the pair is securely located above the upside trend, 20-SMA, and 50-SMA, confirming its positive movement. Nonetheless, the RSI level of 73 has shown a lack of directional strength, implying an overbought condition. Thus, it is expected to see a slight correction afterward, then continue to see the pair to move further north.

Resistance: 1.2055

Support: 1.1993, 11924, 1.1890

FacebookTwitterLinkedInWeChatShare
Pack Up
2020121
Share
FacebookTwitterLinkedInWeChatShare

Broad selling sent the Dow Jones Industrial Index down nearly 0.9%, the biggest drop since October

Market Focus US stocks fell as investors digest incredible November rally in the equity market. Broad selling sent the Dow Jones Industrial Index down nearly 0.9%, the biggest drop since October. President-elect Joe Biden presents the nominations for his economic team, formally naming Janet Yellen as Treasury secretary, Neera Tanden to head the Office and Management and Budget, and Cecilia …

Market Focus

US stocks fell as investors digest incredible November rally in the equity market. Broad selling sent the Dow Jones Industrial Index down nearly 0.9%, the biggest drop since October. President-elect Joe Biden presents the nominations for his economic team, formally naming Janet Yellen as Treasury secretary, Neera Tanden to head the Office and Management and Budget, and Cecilia Rouse to govern the Council of Economic Advisers.

OPEC ends talks without any deals on Monday, and the meeting will resume on Tuesday. In today’s meeting, a 3-month output delay plan has been offered, but there was no decision yet as some members were declined to derail from the previously agreed plan. Discussion was primarily forcus on what conditions to attch to a delay, rather than the duration and the need of a postpone, UAE was particular hard on pushing for a compensation cuts. WTI crude futures declined 1.03%.

Tresury Secretary Steven Mnuchin approved 90-day extension of the Fed’s four emergency lending facility to March 31. Meanwhile, Powell agreed to return the unused money to Treasury that Mnuchin had previously requested, easing some of the tensions between the Fed and the Treasury department.

The ICE Benchmark Administration Ltd. said they are considering to extend the retirement date for 3, 6, and 12-month LIBOR on dollars untile late June 2023. The LIBOR is a critical benmarket rate for the global financial system and it underpins massive financial assets even as regulators plan to terminate the convention rate by the end of 2021.

Market Wrap

Main Pairs

The Sterling was the only currency to take on US dollar during Monday session, Cable benefited from positive Brexit comments and was up 0.09% near closing hours. UK officials see Brexit trade deal could be reached if both sides are committed to resolve difference in fishing rights. UK Foreign Secretary Dominic Raab said “If EU shows the pragmatism, the good will and the good faith that in fairness I think has surrounded the last leg of the talks, and certainly we’ve shown in our flexibility, I think there’s a deal to be done.”

Euro-dollar was gaining 0.32% prior to Wall Street’s opening, the pair then reversed to the downside and ended with a lost 0.3%. Nonetheless, Euro-dollar once hit 1.2 hurdle, the highest price in three months. Dollar index managed to climb 0.23%.

Gold continued to retreat at the start of the week as month-end flows dominated activity, plunged 0.61%. The extension of Fed’s liquidity facilities will help to boost risky asset in the coming months, putting further pressures on the safe-haven metal. SPDR Gold ETF continues to unload their holdings which could largely attribute Gold’s pull back.

Technical Analysis

NZDUSD (Daily Chart)

Kiwi broke the asecending tunnel from the upside, and went on a rampage afterward, gaining 3.2% since Nov 9th. It reached as high as 0.7051 on Monday, then retreated before it could contest the 76.4% Fibonacci retracement of 0.7066. Given the New Zealand dollar’s resilient agasint the greenback among all risky currencies seen on Monday, it could be possible that Kiwi can still put up a last fight toward 0.7066 before a real pull back happens. The pair can either establish a consolidation zone or retrace back to previous trendline. That being said, price level between 0.6887 and 0.6943 seems to be a good range for short period consolidation. Further south, if trendline could ward off any significant retreat, then bullish trend is proven to be sustainable. MACD’s bullish trend is deminishing.

Resistance:0.7066, 0.7177

Support: 0.6887, 0.6943, 0.6762

EURUSD (Daily Chart)

Euro-dollar is capped within the ascending trendline after price is denied by 1.2 hurdle. The pair now looks to retace toward 61.8% Fibonacci of 1.186 amid dollar rebound. After a modest pullback, the pair should continue to the upside as many institutions see the real value around 1.2 near year end. On the downside, chances of a plunge to November’s low of 1.178 remains dim, but it is not completely ruled out since investors are growing confident in freshly nominated US economic team centered around Janet Yellen. MACD on the daily chart remains bullish.

Resistance: 1.192, 1.2

Support: 1.186, 1.1765, 1.17

XAUUSD (Daily Chart)

Gold dropped another 0.61% after last Friday’s 1.3% plunge. Further downside was protected by 50% Fibonacci of 1765, which was last seen in July. The depreciation might be running ahead of itself, and a possible move to the upside could be viewed as a healthy confirmation for a sustainable bearish run, long term bearish bias is very much intact. That being said, price range between 1818 and 1838 would be a decent resistance band that bidders are targetting. MACD on the daily chart is favorable to sellers.

Resistance: 1838, 1861, 1930

Support: 1765, 1691, 1600

FacebookTwitterLinkedInWeChatShare
Pack Up

आपका स्टार्ट
व्यक्तिगत कारोबार अब