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20180301 -

Mar, 01st 08:16

DAILY REPORT ON March 1, 2018

U.S. stocks edged lower on Wednesday with a drop in energy shares, and the S&P 500 was on track for its biggest monthly fall since January 2016.

The S&P energy index (SPNY) fell 1.3 percent following sharply lower oil prices. Retailer shares gained, however, following upbeat results.

Booking Holdings, formerly known as Priceline, rose 7.7 percent after reporting upbeat quarterly profit, helped by higher hotel bookings, while off-price apparel seller TJX jumped about 10 percent after posting upbeat same-store sales.

The Dow Jones Industrial Average (DJI) fell 177.61 points, or 0.7 percent, to 25,232.42, the S&P 500 (SPX) lost 9.95 points, or 0.36 percent, to 2,734.33 and the Nasdaq Composite (IXIC) dropped 7.84 points, or 0.11 percent, to 7,322.51.

The dollar dipped 0.05 percent to 106.605 yen, having slipped from the week’s peak of 107.680 as broader risk aversion favored its Japanese peer.

Asian stocks fell on Thursday after Wall Street marked its worst monthly performance in two years as the impact from new Federal Reserve chief Jerome Powell’s hawkish-sounding comments reverberated across the broader risk asset markets.

Investors have been on edge in recent weeks amid concerns higher interest rates in advanced economies, led by the United States, could dent world growth.

Chinese shares bucked the trend and edged up after a private survey showed growth in China’s manufacturing sector picking up to a six-month high. Shanghai shares rose 0.4 percent.

Australian stocks fell 0.85 percent, South Korea’s KOSPI shed 1.2 percent Japan’s Nikkei dropped 1.6 percent.

U.S. crude oil futures stood little changed at $61.63 per barrel after sliding more than 2 percent overnight. Brent crude lost 0.17 percent to $64.62 per barrel.

Gold was 0.33 percent down at $1,313.70 an ounce. Silver lost 0.45% to $16.250 an ounce. Copper prices were 0.29% higher to $3.138 a pound. U.S. cotton is at $82.71.

Bitcoin is currently trading at 10,381, 3.94% lower on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $858.00, 2.90% lower on the Bitfinex exchange on Thursday.  Ripple’s XRP token was 4.81% down on the Poloniex exchange, for the day. Litecoin was trading at $202.51, down by 7.47%.

Technicals:

EURUSD

Fig: EURUSD D1 Technical chart

EURUSD is trading sideways, above the 100 day and the 200 day EMA on the daily charts. The market is trading below the 9 day, 20 day and the 50 day moving averages. The RSI is at 41.07. The MACD is below the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 1.22034, and 1.22416, valid until 23:00 GMT March 1, 2018

USDJPY

Fig: USDJPY D1 Technical charts

USDJPY 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 39.72. The MACD is above the signal line. The positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 106.854, and 106.975, valid until 23:00 GMT March 1, 2018

GBPUSD

Fig: GBPUSD D1 Technical charts

GBPUSD is trading in the positive zone and above the 100 day and the 200 day EMA on the daily chart. Currently, the price action is trading below the 9 day, 20 day and the 50 day moving averages. The RSI is at 54.68. The MACD is below the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 1.37650, and 1.37940, valid until 23:00 GMT March 1, 2018

LITECOIN

Fig: LITECOIN D1Technical chart

LTC/USD is trading sideways zone on the daily chart. The RSI is nicely placed at 51.19. The market is trading above 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 196.780, and 190.000, valid until 23:00 GMT March 1, 2018

NATURAL GAS

Fig: NATURAL GAS Technical chart

Natural gas is trading sideways on the daily charts. The market is trading below the 20 day moving average. The RSI is at 43.84. 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 2.655, and 2.687, valid until 23:00 GMT March 1, 2018

COPPER

Fig: COPPER D1 Technical charts

Copper 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, and 100 day). The RSI is at 42.98. The MACD is ready to make a negative crossover below the signal line. The market is expected to trade in the negative zone for the day.

Trade suggestion:

Buy digital Put options between 3.1280, and 3.1195, valid until 23:00 GMT March 1, 2018

FTSE 100

Fig: FTSE 100 Technical charts

FTSE 100 is trading in the positive zone, 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 40.02. The MACD is above the signal line. The market is expected to trade positive zone for the day.

Trade suggestion:

Buy digital Call options between 7204, and 7228, valid until 23:00 GMT March 1, 2018