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20180222 -

Feb, 22nd 07:34

DAILY REPORT ON FEB 22ND 2018

U.S. stocks advanced on Wednesday, with the Dow and S&P 500 on track for their seventh gain in eight sessions, buoyed by stocks in economically sensitive areas such as industrials and technology.

After the Federal Reserve left interest rates unchanged in January, minutes of that meeting released on Wednesday showed the central bank’s rate-setting committee grew more confident in the need to keep raising rates, with most believing that inflation would perk up.

Expectations for a quarter-point hike at the Fed’s next meeting in March are currently 93.5 percent, according to Thomson Reuters data. The central bank has forecast three rate hikes in 2018.

The Dow Jones Industrial Average rose 218.69 points, or 0.88 percent, to 25,183.44, the S&P 500 gained 23.55 points, or 0.87 percent, to 2,739.81 and the Nasdaq Composite added 85.66 points, or 1.18 percent, to 7,319.97.

The dollar held onto most of its overnight gains courtesy of higher Treasury yields, though the sudden shift to safety also spurred demand for the Japanese yen.

Most Asian share markets followed S&P 500 futures lower on Thursday as speculation of faster hikes in U.S interest rates soured risk appetite globally.

Japan’s Nikkei shed 1.18 percent, with office equipment maker Ricoh down more than 5 percent on news it was conducting impairment tests.

Chinese markets were in a better mood, returning from their long holiday break with a gain of 2 percent for the Shanghai blue-chip index

On the commodities front, U.S. crude futures fell 61 cents to $61.12 a barrel, while Brent lost 48 cents to trade at $64.98.

Gold was 0.08 percent down at $1,325.50 an ounce. Silver lost 1.16% to $16.425 an ounce. Copper prices were 1.16% lower to $3.168 a pound. U.S. cotton is at $79.96 while sugar earned by 0.52% to $13.41.

Bitcoin is currently trading at 10,816, 0.31% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $863.83, 1.24% lower on the Bitfinex exchange on Wednesday.  Ripple’s XRP token was 0.90% down on the Poloniex exchange, for the day. Litecoin was trading at $218.98, down by 0.21%.

Technicals:

EURGBP

Fig: EURGBP D1 Technical chart

EURGBP is trading in the positive 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 48.46. 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 0.88248, and 0.88360, valid until 23:00 GMT February 22nd, 2018

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 40.55. The MACD is below the signal line. The negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 149.145, and 148.790, valid until 23:00 GMT February 22nd, 2018

USDCHF

Fig: USDCHF D1 Technical charts

USDCHF has made higher highs and higher lows on the daily chart. Currently, the price action is trading between the moving averages, above the 9 day and the 20 day EMA, but below the 50 day, 100 day and the 200 day. The RSI is at 40.47. The MACD has made a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 0.93954, and 0.94525, valid until 23:00 GMT February 22nd, 2018

BITCOIN CASH

Fig: BITCOIN CASH D1Technical chart

BCH/USD is trading sideways on the daily chart. The RSI is nicely placed at 45.32. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day, and 200 day). The MACD has made a positive crossover above the signal line. The market is expected to trade in the negative territory.

Trade suggestion:

Buy digital Put options between 1310, and 1260, valid until 23:00 GMT February 22nd, 2018

NATURAL GAS

Fig: NATURAL GAS Technical chart

Natural gas is trading in the positive 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 39.29. The MACD has made a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 2.634, and 2.676, valid until 23:00 GMT February 22nd, 2018

SILVER

Fig: SILVER D1 Technical charts

Silver is trading sideways on the daily charts. The market is trading below all the moving averages (9day, 20 day, 50 day, 100 day and 200 day). The RSI is at 41.90. The MACD has made a positive crossover above the signal line.

Trade suggestion:

Buy digital Call options between 16.410, and 16.546, valid until 23:00 GMT February 22nd, 2018

EURO STOXX 50

Fig: EURO STOXX 50 Technical charts

EURO STOXX 50 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 41.85. The MACD is ready to make a positive crossover above the signal line. The market is expected to trade negative zone for the day.

Trade suggestion:

Buy digital Put options between 3419, and 3440, valid until 23:00 GMT February 22nd, 2018