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20180220 -

Feb, 20th 09:10

DAILY REPORT ON 20TH FEB 2018

U.S. markets were closed on Monday for a holiday, and the focus will be on whether Wall Street can maintain its recovery once trading resumes.

The Dow gained 4.5 percent last week, winning back more than half of the territory lost during a sharp downturn earlier in the month.

The dollar index against a basket of six major currencies was 0.3 percent higher at 89.346, continuing its rebound from a three-year low of 88.253 set on Friday.

Asian stocks slipped on Tuesday, their recent recovery stalling after European equities broke a winning streak, while the dollar edged further away from three-year lows.

Spreadbetters expected a mixed start for European stocks, with Britain’s FTSE seen rising 0.1 percent, Germany’s DAX dropping 0.1 percent and France’s CAC dipping 0.07 percent.

Japan shed 0.25 percent. Australian stocks were little changed, South Korea’s KOSPI lost 1.2 percent and Hong Kong’s Hang Seng dropped 0.4 percent.

Japan’s Nikkei retreated 1 percent after three successive days of gains.

The pan-European STOXX index fell 0.6 percent on Monday following a three-day ascent, dragged down by falls in consumer staples stocks.

Oil prices were mixed, with reduced flows from Canada pushing up U.S. crude while Brent sagged on the back of weaker Asian stocks and the dollar’s bounce.

U.S. crude futures were 1 percent higher at $62.32 per barrel after touching $62.74, the highest since Feb. 7. Brent lost 0.35 percent to $65.45 per barrel.

In commodities, Gold was 1.15 percent down at $1,340.50 an ounce. Silver lost 1.60% to $16.445 an ounce. Copper prices were 1.80% lower to $3.191 a pound. U.S. cotton is at $77.28 while sugar slipped by 1.83% to $13.38.

Bitcoin is currently trading at 11,591, 7.25% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $955.05, 1.26% higher on the Bitfinex exchange on Tuesday.  Ripple’s XRP token was 1.36% up on the Poloniex exchange, for the day. Litecoin was trading at $240.72, down by 11.17%.

Technicals:

EURGBP

Fig: EURGBP D1 Technical chart

EURUSD 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 53.07. The MACD is above the signal line. The market is expected to trade in the negative territory.

Trade suggestion:

Sell stop at 0.88633, Take profit at 0.88585, and Stop loss at 0.88685

GBPJPY

Fig: GBPJPY D1 Technical charts

GBPJPY is trading sideways on the daily charts. The market is trading below all the moving averages (9 day, 20 day, 50 day and 100 day). The RSI is at 38.75. The MACD has made a negative crossover below the signal line. The positive bias is dominating the market.

Trade suggestion:

Buy stop at 149.220, Take profit at 149.678, Stop loss at 148.980

USDCHF

Fig: USDCHF D1 Technical charts

USDCHF has made higher highs and higher lows 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 44.49. The MACD has made a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy stop at 0.93397, Take profit at 93519, Stop loss at 0.93065

BITCOIN CASH

Fig: BITCOIN CASH D1Technical chart

BCH/USD is trading sideways on the daily chart. The RSI is nicely placed at 51.90.  The MACD has made a positive crossover above the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy limit at 1507, Take profit at 1545, Stop loss at 1485

SILVER

Fig: SILVER Technical chart

Silver is trading in the negative zone on the daily charts. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 42.57. The MACD is below the signal line. Negative bias is dominating the market.

Trade suggestion:

Sell limit at 16.405, Take profit at 16.370, Stop loss at 16.425

COPPER

Fig: COPPER D1 Technical charts

Copper is trading in the negative and is testing the 9 day EMA 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 51.17. The MACD is has made a positive crossover below the signal line.

Trade suggestion:

Sell stop at 3.1910, Take profit at 3.1825, Stop loss at 3.1960

NASDAQ 100

Fig: NASDAQ 100 Technical charts

NASDAQ 100 is trading in the negative zone on the daily charts. Currently, the market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 52.99. The MACD is above the signal line. The market is expected to trade negative zone for the day.

Trade suggestion:

Sell limit at 6763, Take profit at 6722, Stop loss at 6785