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20180216 -

Feb, 16th 08:07

DAILY REPORT ON FEB 16TH 2018

Wall Street surged on Thursday and was on track to end higher for a fifth straight session, led by Apple and other technology stocks as investors shrugged off recent inflation worries that threw the market into a sell-off at the start of the month.

Apple Inc jumped 3.2 percent and contributed more than any other stock to gains on the S&P 500 after Warren Buffett’s Berkshire Hathaway made the iPhone maker its top investment.

The energy was the only major S&P 500 sector index to fall, pulled down 0.48 percent by weaker oil prices.

The Dow Jones Industrial Average was up 1.23 percent at 25,200.37 points, while the S&P 500 had gained 1.21 percent to 2,731.20. The Nasdaq Composite added 1.58 percent to 7,256.43.

The dollar index fell to as low as 88.37 and was on course to lose over 2 percent for the week, its biggest such loss in two years.

Asian shares rose for a fifth straight day on Friday as investor confidence slowly returns after a sharp sell-off earlier in the month, but the dollar continued its descent, hitting a three-year low against a basket of major currencies.

Japan’s Nikkei rose 1.1 percent, with investors relieved to see the government appoint Bank of Japan Governor Haruhiko Kuroda for another term, in a sign the central bank will be in no rush to dial back its massive stimulus program.

Oil prices edged higher on Friday as the dollar stood near a three-year low in subdued Asian trade, with many markets closed for the Lunar New Year holiday.

WTI crude was trading 0.52% higher at $61.66. Brent crude was 0.51% higher at $64.64.

In commodities, Gold was 0.41 percent up at $1,360.90 an ounce. Silver earned 0.38% to $16.860 an ounce. Copper prices earned by 0.22% to $3.253 a pound. U.S. cotton is 0.05% up at $75.43 while sugar earned 1.49% to $13.63.

Bitcoin is currently trading at 10064, 3.99% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $928.39, 1.17% lower on the Bitfinex exchange on Friday.  Ripple’s XRP token was 0.76% down on the Poloniex exchange, for the day. Litecoin was trading at $216.33, up by 5.25%.

Technicals:

EURGBP

Fig: EURGBP D1 Technical chart

EURGBP is trading in the negative zone on the daily charts. The market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 55.41. The MACD is ready to make a positive crossover above the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 0.88763, and 0.88867, valid until 23:00 GMT February 16th 2018

GBPUSD

Fig: GBPUSD D1 Technical charts

GBPUSD has made higher highs and higher lows on the daily charts. The market is trading above all the moving averages (9 day, 20 day, 50 day and 100 day). The RSI is at 36.70. The MACD is ready to make a positive crossover above the signal line.

Trade suggestion:

Buy digital Call options between 1.41450, and 1.41927, valid until 23:00 GMT February 16th 2018

USDCHF

Fig: USDCHF D1 Technical charts

USDCHF has made lower lows and lower highs and is testing the lower band of the Bollinger bands on the daily chart. Currently, the price action is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 28.29. The MACD is ready to make a negative crossover below the signal line. Negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 0.91903, and 0.91800, valid until 23:00 GMT February 16th 2018

ZECASH

Fig: ZECASH D1Technical chart

ZEC/USD is trading sideways on the daily chart. The RSI is nicely placed at 53.07.  The MACD has made a positive crossover above the signal line. The market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 472.790, and 492.441, valid until 23:00 GMT February 16th 2018

COPPER

Fig: COPPER Technical chart

Copper has made higher highs and higher lows on the daily charts. The market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 58.83. The MACD is above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 3.2505, and 3.2673, valid until 23:00 GMT February 16th 2018

SILVER

Fig: SILVER D1 Technical charts

Silver is trading sideways on the daily charts. The market is trading above all the moving averages (9day, 20 day, 50 day, 100 day and 200 day). The RSI is at 53.21. The MACD is has made a positive crossover above the signal line.

Trade suggestion:

Buy digital Call options between16.840, and 16.990, valid until 23:00 GMT February 16th 2018

RUSSELL 2000

Fig: RUSSELL 2000 Technical charts

Russell 2000 has made higher highs and higher lows on the daily charts. Currently, the market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 51.60. The MACD has made a positive crossover above the signal line. The market is expected to trade positive for the day.

Trade suggestion:

Buy digital Call options between 1542, and 1529, valid until 23:00 GMT February 16th 2018