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20180226 -

Feb, 26th 07:38

DAILY REPORT ON 26TH FEB, 2018

Stocks rallied on Friday as interest rates slipped further from a four-year high, pushing the major indexes higher for the week.

The Dow Jones Industrial Average closed 347.51 points higher at 25,309.99, with Intel as the best-performing stock. TheS&P 500 gained 1.6 percent to end at 2,747.30, with utilities and energy as the best-performing sectors. The broad index also broke above its 50-day moving average — a key technical level — in afternoon trade.

Entering Friday’s session, the Dow and S&P 500 were on track to close down by 1 percent for the week. They finished the week with gains of 0.4 percent and 0.6 percent, respectively.

The Nasdaq Composite advanced 1.8 percent to 7,337.39 as shares of Facebook, Amazon, Netflix and Alphabet all rose. For the week, the index rose 1.4 percent.

In currency markets, the U.S. dollar surrendered early gains to dip 0.2 percent on a basket of currencies to 89.730. That followed a 0.8 percent bounce last week.

Asian shares made guarded gains on Monday as investors braced for an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve.

Japan’s Nikkei led with an increase of 1.3 percent, while Chinese blue chips added 0.7 percent.

China’s ruling Communist Party on Sunday set the stage for President Xi Jinping to stay in office indefinitely, with a proposal to remove a constitutional clause limiting presidential service to just two terms in office.

Oil prices extended gains to hit their highest level in nearly three weeks on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies.

U.S. crude futures added 25 cents to $63.80 a barrel, while Brent futures rose 15 cents to $67.46.

Gold was 0.80 percent up at $1,341 an ounce. Silver earned 1.28% to $16.695 an ounce. Copper prices were 0.43% higher to $3.247 a pound. U.S. cotton is at $81.75.

Bitcoin is currently trading at 9,585, 1.04% lower on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $846.80, 1.03% higher on the Bitfinex exchange on Monday.  Ripple’s XRP token was 1.76% down on the Poloniex exchange, for the day. Litecoin was trading at $221.98, up by 8.19%.

Technicals:

EURGBP

Fig: EURGBP D1 Technical chart

EURGBP is trading sideways 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 43.01. The MACD is below the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 0.87881, and 0.88000, valid until 23:00 GMT February 26th, 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, 100 day, and 200 day). The RSI is at 53.98. The MACD is below the signal line, but expected to make a positive crossover above the signal line. The positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 1.40185, and 1.40502, valid until 23:00 GMT February 26th, 2018

USDJPY

Fig: USDJPY D1 Technical charts

USDJPY is trading sideways 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 36.19. The MACD has made a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 106.551, and 106.917, valid until 23:00 GMT February 26th, 2018

DASH/USD

Fig: DASH/USD D1Technical chart

DASH/USD is trading sideways on the daily chart. The RSI is nicely placed at 41.32. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day, and 200 day). The MACD is ready to make a negative crossover below the signal line. The market is expected to trade in the negative territory.

Trade suggestion:

Buy digital Put options between 579, and 549, valid until 23:00 GMT February 26th, 2018

SILVER

Fig: SILVER Technical chart

Silver 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 51.5. The MACD has made a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 16.680, and 16.723, valid until 23:00 GMT February 26th, 2018

NATURAL GAS

Fig: NATURAL GAS D1 Technical charts

Natural gas is trading in the positive zone 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 45.40. The MACD has made a positive crossover above the signal line.

Trade suggestion:

Buy digital Call options between 2.684, and 2.730, valid until 23:00 GMT February 26th, 2018

RUSSELL 2000

Fig: RUSSELL 2000 Technical charts

RUSSELL 2000 is trading in the positive 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 54.38. The MACD has made a positive crossover above the signal line. The market is expected to trade positive zone for the day.

Trade suggestion:

Buy digital Call options between 1552, and 1547, valid until 23:00 GMT February 26th, 2018