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20180227 -

Feb, 27th 07:54

DAILY REPORT ON 27TH FEB 2018

U.S. stocks rose sharply on Monday, led by gains across sectors as investors bet that Federal Reserve Chairman Jerome Powell will stick to a gradual rate-hike approach despite indications that inflation is perking up.

The Dow Jones Industrial Average (DJI) was up 274.71 points, or 1.09 percent, at 25,584.7 and the S&P 500 (SPX) was up 19.41 points, or 0.71 percent, at 2,766.71.

The Nasdaq Composite (IXIC) was up 51.29 points, or 0.7 percent, at 7,388.68.

Technology stocks, which led the S&P 500 sectors on Monday, have been the top gainers so far this year, with an 8.6 percent rise.

Asian equities were mixed in morning trade on Tuesday ahead of Federal Reserve Chairman Jerome Powell’s highly-anticipated testimony later in the day.

Japan’s Nikkei added 1.03% by 05:43am GMT and hit a three-week high. Australia’s S&P/ASX 200 also climbed 0.6% with financials leading the gains.

Chinese markets underperformed their regional peers, as Shanghai Composite traded 1.18% lower while Shenzhen Component also slipped 0.3%. The decision by China’s Communist Party to remove presidential term limits remained in focus. The official and Caixin purchasing manager’s indexes due Wednesday and Thursday are expected to gather some attention.

Hong Kong’s Hang Seng Index slipped 0.21%. AIA Group Ltd made headlines as the insurance group’s 2017 net profit jumped 48% to $6.12 billion, beating analysts’ estimates. Meanwhile, Electricity supplier CLP Holdings reported a better-than-expected 8% growth in net profit and announced a dividend of HK1.14 per share.

Oil prices extended gains on Tuesday, supported by signs of stronger demand, robust production curbs led by OPEC and a slight fall in U.S. output.

U.S. crude futures fell 0.13 % to $63.83 a barrel, while Brent futures slipped 0.10% to $67.22.

Gold was 0.17 percent up at $1,335 an ounce. Silver earned 0.21% to $16.505 an ounce. Copper prices were 0.12% higher to $3.228 a pound. U.S. cotton is at $81.89.

Bitcoin is currently trading at 10,305, 7.74% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $875.80, 3.34% higher on the Bitfinex exchange on Tuesday.  Ripple’s XRP token was 3.68% up on the Poloniex exchange, for the day. Litecoin was trading at $261.50, up by 3.68%.

Technicals:

EURJPY

Fig: EURJPY D1 Technical chart

EURJPY 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 38.77. The MACD is below the signal line but 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 131.761, and 132.000, valid until 23:00 GMT February 27, 2018

USDSEK

Fig: USDSEK D1 Technical charts

USDSEK is trading in the red zone below the 200 day EMA on the daily charts. The market is trading above the 9 day, 20 day, 50 day and the100 day moving averages. The RSI is at 59.98. The MACD is above the signal line. The negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 8.15398, and 8.13380, valid until 23:00 GMT February 27, 2018

USDCAD

Fig: USDCAD D1 Technical charts

USDCAD is trading in the positive and below the resistance of the 200 day EMA on the daily chart. Currently, the price action is trading above the 9 day, 20 day, 50 day and the 100 day moving averages. The RSI is at 60.23. The MACD is above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 1.26850, and 1.27137, valid until 23:00 GMT February 27, 2018

ZCASH/USD

Fig: ZCASH/USD D1Technical chart

ZEC/USD is trading in the positive zone on the daily chart. The RSI is nicely placed at 45.09. 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 positive crossover above the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 407, and 420, valid until 23:00 GMT February 27, 2018

COFFEE

Fig: COFFEE Technical chart

Coffee is trading in the negative zone on the daily charts. The market is trading below the 200 day moving average. The RSI is at 49.66. The MACD is ready to make a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 122.10, and 122.60, valid until 23:00 GMT February 27, 2018

SILVER

Fig: SILVER D1 Technical charts

Silver is trading sideways above the 9 day EMA on the daily charts. The market is trading below the 20 day, 50 day, 100 day and 200 day moving averages. The RSI is at 47.68. The MACD is ready to make a negative crossover above the signal line.

Trade suggestion:

Buy digital Put options between 16.520, and 16.400, valid until 23:00 GMT February 27, 2018

HANG SENG

Fig: HANG SENG Technical charts

HANG SENG 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 has made 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 31324, and 31133, valid until 23:00 GMT February 27, 2018