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20180316 -

Mar, 16th 07:33

DAILY REPORT ON 16TH MARCH 16, 2018

The Dow Jones Industrial Average added more than 200 points on Thursday as industrial stocks gained after the White House trade adviser sought to play down chances of a trade war due to protectionist policies.

President Donald Trump’s tough approach to global trade, including new tariffs on metals imports, will not necessarily provoke retaliation from trading partners, Peter Navarro, the top adviser on international economic exchanges, said on CNBC.

Thursday’s gains helped the Dow (DJI) erase much of its losses since Trump announced tariff plans on March 1. The blue-chip index is still trading about 6 percent below its record highs hit on Jan. 26 and was last up 0.82 percent at 24,960.4 points. The S&P 500 pared some of its early gains and was up 0.13 percent at 2,752.97. The Nasdaq Composite fell 0.04 percent to 7,494.06 points.

U.S. Treasuries yield stood little changed at 2.822 percent in Asia after having hit a near two-week low of 2.797 percent on Thursday.

Asian stocks slid on Friday as reports of more chaos in the Trump administration tested investors’ nerves, already frayed by fears that U.S. tariffs could hurt the global economy and trigger a trade war.

Japan’s Nikkei (N225) was down 0.3 percent. Hong Kong’s Hang Seng was 0.08% percent up and Australian stocks rose 0.48 percent. Shanghai composite was 0.04% lower at 3289.76.

Oil prices were little changed after ending choppy Thursday trade higher as the International Energy Agency said global oil demand is expected to pick up this year, but warned supply is growing at a faster pace.

Brent futures stood flat at $65.11 per barrel. WTI crude

Gold lost 0.02% at $1,317.50 an ounce. Silver gained 0.05% to $16.430 an ounce. Copper prices were 0.45% higher to $3.140 a pound. U.S. cotton is at $83.69, 0.13% higher.

Bitcoin is currently trading at 8,200, 5.38% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $607.98, 4.17% higher on the Bitfinex exchange on Friday.  Ripple’s XRP token was 7.24% up on the Poloniex exchange, for the day. Litecoin was trading at $162.78, high by 6.28%.

Technicals:

USDNOK

Fig: USDNOK D1 Technical chart

USDNOK 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 37.31. The MACD is below the signal line. The market is expected to trade in the negative territory.

Trade suggestion:

Buy digital Put options between 7.70651, and 7.68876, valid until 23:00 GMT March 16, 2018

EURGBP

Fig: EURGBP D1 Technical charts

EURGBP 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 43.29. The MACD is below the signal line. The negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 0.88286, and 0.88200, valid until 23:00 GMT March 16, 2018

GBPJPY

Fig: GBPJPY D1 Technical charts

GBPJPY is trading in the negative zone on the daily chart. Currently, the price action is trading above all moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 44.11. The MACD is above the signal line. Negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 147.375, and 146.950, valid until 23:00 GMT March 16, 2018

BITCOIN CASH

Fig: BITCOIN CASH D1Technical chart

BCH/USD is trading sideways just above the lower band of the Bollinger bands on the daily chart. The RSI is nicely placed at 35.69. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day, and 200 day). The MACD is below the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Put options between 920.00, and 978.00, valid until 23:00 GMT March 16, 2018

SUGAR

Fig: SUGAR D1 Technical chart

Sugar is trading in the negative zone on the daily charts. The market is trading below all the moving average (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 39.62. The MACD is below the signal line. Negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 12.70, and 12.50, valid until 23:00 GMT March 16, 2018

COPPER

Fig: COPPER D1 Technical charts

Copper 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 and 100 day). The RSI is at 48.15. The MACD is ready to make a positive crossover above the signal line. The market is expected to trade in the positive zone for the day.

Trade suggestion:

Buy digital Call options between 3.1395, and 3.14230, valid until 23:00 GMT March 16, 2018

FTSE 100

Fig: FTSE 100 Technical charts

FTSE 100 is trading sideways 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 48.15. The MACD is below the signal line. The market is expected to trade in the positive zone for the day.

Trade suggestion:

Buy digital Call options between 7060, and 7100, valid until 23:00 GMT March 16, 2018