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20180503 -

Mar, 05th 07:29

DAILY REPORT ON March 5TH, 2018

U.S. stocks closed well off session lows on Friday, helped by a sharp rise in health care shares.

The S&P 500 ended 0.5 percent higher at 2,691.25 after falling more than 1 percent. Healthcare sector was the best-performing sector, gaining 1 percent. Shares of Universal Health Services and Perrigo were among the best performers in the index.

The Nasdaq composite rose 1.1 percent to 7,257.87 as the iShares Nasdaq Biotechnology ETF (IBB) advanced 2.4 percent. At its low, the Nasdaq fell as much as 1.3 percent.

The Dow Jones industrial average closed 70.92 points lower at 24,538.06 after falling as much as 391 points. Johnson & Johnson and Merck were among one of the best-performing stocks in the index, rising 1.2 percent each.

The dollar fell for a fourth straight session to trade around 105.49 yen but was slightly above Friday’s low of 105.23, a level not seen since November 2016.

Asian shares stumbled to near three-week lows on Monday amid fears of a global trade war, while the euro was unsteady in currency markets due to worries that an anti-establishment coalition government could emerge from elections in Italy.

Italian voters delivered a hung parliament on Sunday, flocking to anti-establishment and far-right parties in record numbers and casting the euro zone’s third-largest economy into a political gridlock that could take months to clear.

China said on Sunday it did not want a trade war with the United States but will defend its interests, warning that policies based on “mistaken assumptions” will damage bilateral relations.

Japan’s Nikkei and South Korea’s KOSPI both lost 0.7 percent, while Chinese shares eased too after starting on a positive note. Australian stocks fell 0.57 percent

In commodities, oil prices climbed ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global glut.

Brent crude was up 30 cents at $64.67 a barrel while U.S. light crude added 47 cents to $61.64.

Gold was 0.32 percent up at $1,327.40 an ounce. Silver earned 0.78% to $16.595 an ounce. Copper prices were 0.19% lower to $3.128 a pound. U.S. cotton is at $82.58.

Bitcoin is currently trading at 11,556.0, 3.17% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $867.12, 2.49% higher on the Bitfinex exchange on Monday.  Ripple’s XRP token was 12.71% down on the Poloniex exchange, for the day. Litecoin was trading at $211.00, down by 1.54%.

Technicals:

EURJPY

Fig: EURJPY D1 Technical chart

EURJPY is trading sideways, near the lower band of the Bollinger bands 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 29.58. The MACD is below the signal line. The market is expected to trade in the negative territory.

Trade suggestion:

Buy digital Put options between 129.925, and 129.666, valid until 23:00 GMT March 5, 2018

USDSEK

Fig: USDSEK D1 Technical charts

USDSEK is trading sideways 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 65.83. The MACD is above the signal line. The positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 8.27710, and 8.29865, valid until 23:00 GMT March 5, 2018

GBPJPY

Fig: GBPJPY D1 Technical charts

GBPJPY has made higher highs and higher lows and is testing the lower band of the Bollinger bands 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 26.67. The MACD is below the signal line. Negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 145.370, and 145.240, valid until 23:00 GMT March 5, 2018

DASH

Fig: DASH D1Technical chart

DASH/USD is trading sideways on the daily chart. The RSI is nicely placed at 46.32. 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 positive crossover above the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 610.14, and 640.50, valid until 23:00 GMT March 5, 2018

SILVER

Fig: SILVER Technical chart

Silver has made higher highs and higher lows on the daily charts. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day, and 200 day0. The RSI is at 47.50. 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 16.470, and 16.556, valid until 23:00 GMT March 5, 2018

COFFEE

Fig: COFFEE D1 Technical charts

Coffee is trading in the negative zone, below the 200 day EMA on the daily charts. The market is trading above the 9 day, 20 day, 50 day, and the 100 day moving averages. The RSI is at 50.74. The MACD is above the signal line. The market is expected to trade in the negative zone for the day.

Trade suggestion:

Buy digital Put options between 122.10, and 121.25, valid until 23:00 GMT March 5, 2018

NIKKEI 225

Fig: NIKKEI 225 Technical charts

NIKKEI 225 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 35.41. The MACD has made a negative crossover below the signal line. The market is expected to trade positive zone for the day.

Trade suggestion:

Buy digital Call options between 20980, and 21118, valid until 23:00 GMT March 5, 2018