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- Varchev Finance: Trading day in one post – 10.05.2018
Varchev Finance: Trading day in one post - 10.05.2018
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Loading...Asian Stock Market - Today, energy companies are again in vogue and have contributed to the growth of Asian markets. In Japan, Nikkei 225 increased by 0.17% and Topix 0.06%. Profits were also felt in South Korea, with Kospi rising 0.31%. In China, markets were more confident, with Shanghai registering a 0.20% growth, Shenzhen 0.1%, and Hang Seng a full percentage. ASX200 jumped 0.21%.
FX Market - We can not help mentioning NZD in the first place after deleting almost 1% of its value in less than 2 hours. The crash came after RBNZ's decision to keep the interest rates at a record low of 1.75% and at the same time allowed for a downward trend. It is the possibility of a subsequent downgrade that makes investors think that the bank tends to be loose monetary policy instead of tightening it as it is "modern" lately. Supported by the continuous growth of oil, CAD has managed to make significant profits. Looking at USD / CAD-D1, the medium-term trend remains rising, but the weakness of the US labor market, deeper US isolation from the world, and sharply rising oil prices began to exert a strong negative impact on the currency couple. Technically, the price is in the mid-term upward trend, but reaches key levels of resistance, and it's good to consider positioning with Short or at least a partial reduction in lobbing positions. What do we have at the moment? Strong horizontal resistance zone formed by previous peaks. Also available is Head and Shoulders, whose Neckline has been tested over the past two weeks. A real breakthrough is not being realized, which speaks a lot about the ambition of sellers in the area. Price Action - Bears pin bar on levels of resistance and absorbing the Daily Bar - highly negative formation. DeMarker points down from a surplus zone - negative for the price. 61.8% Fibonacci correction also supports sales as it matches with the horizontal resistance zone and we do not have a bar closed above it.
Commodity Market - At the moment there is a sure winner and that's oil. Following Trump's statement, which highlighted the US position on the nuclear deal with Iran, oil rose by more than 3%, and this led to support for energy companies. Gold, like JPY, is down, but expectations remain positive. Today the metal will be driven entirely by stock market moods as there are no important economic data in the calendar that could be a catalyst for future metal movements.
European stock market - European indices are expected to open up, reflecting positivism gained during sessions in the US and Asia earlier. DAX will start trading by about 25 points higher, CAC40 by about 11 points and UKX by about -25 lower, reflecting worries about the central bank's decision on the key interest rate today at 14:00.
US Stock Market - Positivism in US markets takes precedence, this time because of the US withdrawal from the nuclear agreement with Iran. At first reading, such a decision is detrimental to the stock as geopolitical tensions grow, but looking in detail, we must break our thinking through the prism of rising oil. The fact is that the energy sector is the most important in major stock indices, and oil growth inevitably leads to a rise in the value of energy companies. Looking at Dow Jones, energy giants Chevron and Exxon Mobil are among the best performing. Technical Dow Jones recorded a breakthrough at a key level of resistance, and this opened its way to new peaks. For most of 2018, the index moved in triangular consolidation, mainly due to a lack of strong foundation to support the stock. In addition, geopolitical tensions and Trump's controversial policy have contributed to the fall in indices. So far we have a breakthrough in basic diagonal resistance, as well as several signals supporting long positions. The price failed to break the 200-year period and made a strong rebound in the upward direction - indicative of the strength of the bulls. Sequential counts 4th on top - the upward pulse is in effect. DeMarker is in a neutral zone and does not signal.
Economic calendar for European and US trade sessions - 10.05.2018
11:00 Eurozone - Economic Bulletin of the ECB
11:30 UK - Industrial Production
11:30 UK - Trade Balance
14:00 United Kingdom - Bank Of England Basic Interest Rate
15:30 US - CPI
Trader Petar Milanov Read more:
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