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Trends  24-04-2014

Daily Briefing- Facebook and Apple pushing the US futures up

CurrenciesEUR/USD: The pair is bouncing from its support zone on a 60 minute time frame from our Identified level. The next support is at 1.3781 and the next resistance is at 1.390. USD/JPY: The pair is trading above the upward trend line on a 60 minute time frame which confirms that the uptrend is still intact. The support is at 101.43 and resistance at 103.04. GBP/USD: The pair is … [Read More...]

IMG_0755

European markets up after groundbreaking earnings from Apple

The bulls finally gave up yesterday after a six-day rally and Wall Street finished lower. The lower finish was mainly due to the weak economic data released in the country. Moreover, a six-day consecutive rally itself was enough to stimulate some profit taking after the sharp run we have seen so far for the equity markets, since it bounced from its lows.However, the picture was completely … [Read More...]

Apple 24-04-2014

Apple- Bullish pattern predicting further upward move

 Apple is trading in a rectangle pattern on a 4 hour time frame which means that we do not have any clear trend for the price unless we breaks out of this pattern. However, we do have the ascending triangle formed within this pattern which is a bullish pattern and most of the time it breaks towards the upside. If this pattern completes its projection to the upside, we could easily see the … [Read More...]

Today’s Technical Analysis

Apple 24-04-2014

Apple- Bullish pattern predicting further upward move

 Apple is trading in a rectangle pattern on a 4 hour time frame which means that we do not have any clear trend for the price unless we breaks out of this pattern. However, we do have the ascending triangle formed within this pattern which … [Read More...]

Facebook 24-04-2014

Facebook- Smashing earnings but be aware of Technicals

Facebook closed above the 50day moving average (shown in green) on a 4 hour time frame. The stock formed a double bottom when it filled the gap at 55.31 which was a bullish pattern. The most important factor here is that it has broken its downward … [Read More...]

USDJPY 22-04-2014

USD/JPY- trading in an upward channel

The USD/JPY is trading in an upward channel on a 60 minute time frame.  If the price breaks this upward channel, then the lower line of this channel will become the resistance for the pair. The price has pierced the Bollinger band which represents … [Read More...]

EURUSD 21-04-2014

EUR/USD- In a Support zone, will you trade?

The EUR/USD is trading back in a minor support zone (mentioned below) a 60 minute time frame. The price is trading below the downward trending line which mean that the bias could be to the downside. It is has also formed a descending triangle pattern … [Read More...]

Twitter 17-04-2014

TWITTER- Bounced from its support zone, what now?

Twitter has bounced sharply up from its major support zone (mentioned below) on a 4 hour time frame. The support zone has shown that there was an incredible amount of buying pressure, which has pushed the price higher. The volatility for the stock is … [Read More...]

Weekly Forecast

core CPI  15-04-2014

Week Ahead: Fundamentals U.S – 14th – 21th of April.

 

U.S will kick off their trading week with a major economic event  release on Monday which is the core retail sales data. On Tuesday, investors will look at the core CPI and Empire State Manufacturing. Wednesday is the main focus day of the week with Building permits and housing starts. Thursday, will focus on unemployment claims and the Philly Fed manufacturing index will take traders attention.

 

Monday Fundamentals:

1.       Core Retail Sales m/m

Data:

Previous Figure: 0.3%

Forecast Figure: 0.5%

Time: 13:30 GMT

Tuesday Fundamentals:

1.       Core CPI m/m

Data:

Previous Figure: 0.1%

Forecast Figure: 0.1%

Time: 13:30 GMT

 

Sentiment:

Most economists are predicting that the overall reading could remain muted because the underlying factors rents are not increasing. The chart shows the comparison between the PPI, Core PPi, CPI and core CPI index.

core CPI  15-04-2014

Source: Bloomberg & Bloomberg Brief

 

2.       Empire State Manufacturing Index

Data:

Previous Figure: 5.6

Forecast Figure: 8.2

Time: 13:30 GMT

 

Sentiment:

The chart shows the comparison between the empire state index and the Philadelphia index.

empire state 15-04-2014

Source: Bloomberg & Bloomberg Brief

 

Wednesday Fundamentals:

1.       Building Permits

Data:

Previous Figure:1.01M

Forecast Figure:  1.00M

Time: 13:30 GMT

 

2.       Housing Starts

Data:

Previous Figure: 0.91M

Forecast Figure:  0.97 M

Time: 13:30 GMT

 

Sentiment:

An increase in the speculation such as a hike in the interest rate and diminishing hunger for new homes could have an impact on the final number.  The belwo chart shows the comparison between the permits and Starts.

housing starts

Source: Bloomberg & Bloomberg Brief

 

 

Thursday Fundamentals:

 

1.       Unemployment Claims

Data:

Previous Figure: 300K

Forecast Figure:  316K

Time: 13:30 GMT

 

2.       Philly Fed Manufacturing Index

Data:

Previous Figure: 9.0

Forecast Figure: 9.6

Time: 15:00 GMT

 

empire state 19-03

Week Ahead: Fundamentals U.S – 17th – 23rd of March

U.S will kick off their trading week with a major economic event  release on Monday which is the empire state manufacturing index data. On Tuesday, we have building permits and core CPI data. Wednesday, we have the FOMC statement and we will get more clear idea if the Fed is bullish on the economy.  Finally,  Thursday, is the busiest day of the week  with unemployment claims, existing home sales and Philly Fed manufacturing index data in focus.

 

Monday Fundamentals:

1.       Empire State Manufacturing Index

Data:

Previous Figure: 4.5

Forecast Figure: 6.6

Time: 13:30 GMT

Sentiment:

The decline in Feburary new orders should have a positive impact on the March Empire and Philadelphia index.

empire state 19-03

Source: Bloomberg & Bloomberg Brief

Tuesday Fundamentals:

1.       Building Permits

Data:

Previous Figure: 0.95M

Forecast Figure: 0.97M

Time: 13:30 GMT

 

2.       Core CPI m/m

Data:

Previous Figure: 0.1%

Forecast Figure: 0.1%

Time: 13:30 GMT

Sentiment:

We may continue see the inflation depressed as the bigger manufacturers are competing for a better price so that they can move more volume. The chart below shows the comparison between the CPI and core CPI.

core CPI 19-03

Source: Bloomberg & Bloomberg Brief

 

 

Wednesday Fundamentals:

1.       FOMC Economic Projections

Data:

Previous Figure: NA

Forecast Figure:  NA

Time: 19:30 GMT

 

Thursday Fundamentals:

1.       Unemployment Claims

Data:

Previous Figure: 315K

Forecast Figure: 327K

Time: 13:30 GMT

 

2.       Existing Home Sales

Data:

Previous Figure: 4.62M

Forecast Figure: 4.65M

Time: 15:00 GMT

Sentiment:

According to the Bloomberg survey of economists existing home sales may tick up slightly to 4.64M. Distress home sales and cash purchase is representing that there is still inventory of houses from the housing bubble

existing home sales 19-03

Source: Bloomberg & Bloomberg Brief

 

1.       Philly Fed Manufacturing Index

Data:

Previous Figure: -6.3

Forecast Figure:  4.2

Time: 15:00 GMT

 

The above is for informational purposes only and NOT to be construed as specific trading advice. Responsibility for trade decisions is solely with the reader.
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