Tag: GER40

Market News

• U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Fed’s policy meeting next week.

• The Labour Department’s CPI report showed consumer prices cooled in February with headline and core measures notching welcome annual declines. Signs of economic softness, combined with the regional banking scare, have increased the odds that Fed will implement a 25 basis-point hike.

• Shock waves following the closure of Silicon Valley Bank and Signature Bank, which prompted Biden to vow he would contain the crisis and ensure the safety of the U.S. banking system, continued to reverberate throughout the sector.

Market Views

• Asia-Pacific markets rose on Wednesday morning after bank stocks on Wall Street rebounded on optimism of contagion risk from Silicon Valley Bank being contained. Hang Seng index rose 384 points and Nikkei 225 index gained 75 points.

• China’s industrial output rose 2.4% in the January to February period, official data showed. Economists polled by Reuters had expected to see a rise of 2.6%. Retail sales rose 3.5% for the same period, in line with expectations.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 32,124

Target price:

Protective stop:

Outlook
Price rebounded last night after reaching a price low of 31,435. We could see a price rebound to test its support-turned-resistance zone which is also the Fibonacci 50% correction point at 32,500. Stochastic is at the oversold zone and MACD is bearish

Trading Idea
Wait for better trading idea

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 15,235

Target price:

Protective stop:

Outlook
This index rebounded from its previous low support zone of 14,883. We are likely to see price testing 15,295, which is the Fibonacci 50% correction point and the 20EMA. Stochastic is falling and MACD is bearish

Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 12,206

Target price:

Protective stop:

Outlook
Price rebounded after reaching its previous price low support zone. A spinning top candlestick pattern was formed and a bullish candle was followed through. We are likely to see price rebounding to 12,466 and a penetration of this resistance will target for 12,890.

Trading Idea
Buy 12,000 for 12,500 with a stop below 11,800.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation:

Last: 7634

Target price:

Protective stop:

Outlook

This index has reached its head and shoulder one to one price target, which is also the resistance-turned-support zone. Stochastic is at the oversold zone. Price could have a price rebound to 7792. MACD remains bearish.

Trading Idea
Wait for better trading idea.

Market News

• U.S. stock indexes plunged on Tuesday after Fed Chair Jerome Powell told Congress the central bank will likely need to raise interest rates more than previously expected as it seeks to rein in stubbornly high inflation.

• Powell, who will testify again on Wednesday before the House of Representatives Financial Services Committee, also added that the Fed would not consider changing its 2% inflation target and the job market does not suggest an economic downturn is close. Data of nonfarm payroll additions for February will also be closely watched.

• China saw its exports fall by 6.8% in February, declining less than expectations of a 9.4% drop, according to economists surveyed by Reuters. The drop was also less than the previous month’s fall of 9.9%.

Market Views

• Asian markets were mixed on Wednesday morning as traders looked ahead to Fed Chair Jerome Powell’s congressional testimony on Tuesday and Wednesday, which will inform the central bank’s next moves on its rate-hiking decision. Hang Seng index slid 535 points while Nikkei 225 index rose 61 points.

• The Reserve Bank of Australia raised its cash rate by 25 basis points to carry the risk of plunging the economy into a recession. Commonwealth Bank of Australia’s Gareth Aird expected one further 25bp rate hike to be delivered at the April Board meeting, for a peak in the cash rate of 3.85%.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 32,840

Target price:

Protective stop:

Outlook
Price plunged below the 20EMA last night with a huge bearish candle after being resisted by the Fibonacci 50% correction point. We could see price testing its support zone at 32,485 again. Stochastic is weak and MACD is bearish.

Trading Idea
Wait for better trading idea

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 15,511

Target price:

Protective stop:

Outlook
This index created a new high at 15,706 yesterday before closing with a bearish candle. We could see price moving lower to its support zone at 15,180. Stochastic could be falling soon. MACD is bullish but has been giving divergence warnings.


Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation: Short @ 12,120

Last: 12,133

Target price: 11,750

Protective stop: 12,300 Triggered

Outlook
Price fell sharply following a shooting star candlestick pattern last night after being capped by the Fibonacci 62% correction point. Stochastic is weak and MACD is bearish. We could see price testing 11,230 if it violates 11,800.

Trading Idea
Sell 12,120 for 11,750 with a stop above 12,300. Entry and stop was triggered on 6 Mar.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation:

Last: 7894

Target price:

Protective stop:

Outlook
This index could have formed a potential head and shoulder reversal chart pattern. It is currently testing its key neckline and once this neckline is broken, we are likely to see price moving lower to 7616. Stochastic is weak and MACD is moving lower.

Trading Idea
Sell 7915 for 7835 with a stop above 7970

Market News

• U.S. stocks rallied on Thursday, as Treasury yields pulled back from earlier highs following comments from Atlanta Federal Reserve President Raphael Bostic about his favoured path of interest rate hikes for the central bank.

• The yield on 10-year Treasury notes had earlier touched a fresh four-month high of 4.091% after data showed the number of Americans filing new unemployment claims fell again last week, indicating continued strength in the labour market, while a separate report showed U.S. labour costs grew faster than initially thought in the fourth quarter.

• Japan’s services sector in February expanded at its fastest rate since June 2022, a private survey from au Jibun bank showed. Their unemployment rate for January came in at 2.4%, 0.1% lower compared to December and slightly below economists’ expectations of 2.5%

Market Views

• Asian markets rose on Friday morning, following Wall Street’s gains overnight after Atlanta Fed President Raphael Bostic said he’s firmly in favour of sticking with quarter-point hikes. Hang Seng index rose 145 points and Nikkei 225 index surged 405 points.

• China’s service sector activity expanded at the fastest rate in six months, as its services purchasing managers index for February rose to 55, sharply higher than the 52.9 recorded in January.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 32,954

Target price:

Protective stop:

Outlook
Price rebounded from its resistance-turned-support zone. We could see price rebounding to the 20EMA at 33,270, coinciding with the Fibonacci 38% correction point. Stochastic is in the oversold zone and MACD is bearish.

Trading Idea
Wait for better trading idea

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation: Short @ 15,500

Last: 15,533

Target price: 15,200 Filled

Protective stop: 15,700

Outlook
This index is currently moving inside a consolidation zone. It rebounded from the lower boundary and we could see price testing its upper boundary at 15,460 until either end breaks. Stochastic has a bullish crossover and MACD remains bullish

Trading Idea.
Sell 15,500 with a stop above 15,700 for 15,200. Entry order was filled on 14 Feb. Profit order was filled on 2 Mar

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 12,003

Target price:

Protective stop:

Outlook
Price was resisted by the 20EMA which is acting as resistance at 12,125 currently. As long as price moves below the 20EMA, we are likely to see price falling to 11,510. Stochastic is at the oversold zone and MACD is bearish.

Trading Idea
Sell 12,120 for 11,750 with a stop above 12,300.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation:

Last: 7955

Target price:

Protective stop:

Outlook
Price managed to rebound and close above the 20EMA resistance which has now become the support. We could see price testing its previous high at 8044 again. Stochastic is turning up and MACD remains bullish.

Trading Idea
Wait for better trading idea.

Market News

• Wall Street ended a topsy-turvy Thursday in positive territory, with the S&P 500 snapping a four-session losing streak, as investors grappled with how interest rate policy might affect the U.S. economy. Nasdaq Composite gained 83 points.

• On Thursday, the Labour Department said the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, reflecting tight labour market conditions. A separate report confirmed the economy grew solidly in the fourth quarter.

• Japan’s nationwide consumer price index rose 4.2% compared to a year ago in January, in line with expectations of economists surveyed by Reuters. The economy’s core CPI excluding fresh food and energy prices rose 3.2%, data showed, as overall CPI rose 4.3% year on year.

Market Views

• Asian markets traded mixed on Friday morning as the nominee to lead the Bank of Japan Kazuo Ueda spoke at a confirmation hearing. Hang Seng index dropped 268 points while Nikkei 225 index gained 300 points.

• Bank of Japan governor nominee Kazuo Ueda has expressed support for the current monetary policy. He said the current strategy is appropriate despite numerous side effects, commenting on the central bank’s ultra-dovish monetary policy.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 33,125

Target price:

Protective stop:

Outlook
Price formed a shooting star candlestick pattern near to its support zone. This may be a hint that price could retest the 20EMA at 33,590. Stochastic is at the oversold zone and MACD is bearish.

Trading Idea
Wait for better trading idea

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation: Short @ 15,500

Last: 15,533

Target price: 15,200

Protective stop: 15,700

Outlook
This index rebounded after being supported by the 20EMA support. As long as price stay above the 20EMA, we see price testing its previous high at 15,656. A violation of the 20EMA will hint for further price decline. Stochastic is falling. MACD is still bullish but is giving potential divergence warning

Trading Idea.
Sell 15,500 with a stop above 15,700 for 15,200. Entry order was filled on 14 Feb.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 12,152

Target price:

Protective stop:

Outlook
Price was resisted by the 20EMA which is acting as resistance at the moment. As long as price moves below the 20EMA, we are likely to see price falling to 11,510. Stochastic is near to the oversold zone and MACD is bearish.

Trading Idea
Wait for better trading idea.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation:

Last: 7941

Target price:

Protective stop:

Outlook
The price decline appears to halt at the 20EMA which is acting as support currently. As long as price moves above the 20EMA, we see price testing its high at 8044 again. Stochastic is still strong and bullish. MACD remains bullish as well.

Trading Idea
Wait for better trading idea.

Market News

• Wall Street posted its worst performance of the year on Tuesday, with the main benchmarks ending down as investors interpreted a rebound in U.S. business activity in February to mean interest rates will need to stay higher for longer to control inflation.

• S&P Global Purchasing Manufacturer’s index that reflects business activity in U.S. returned to expansion for the first time in eight months in February. The 50.2 reading, up from 46.8 in January, was buoyed by a robust services sector.

• New Zealand’s central bank has raised interest rates by 50 basis points from 4.25% to 4.75, in line with economists’ expectations. The Reserve Bank of New Zealand indicated that interest rates could still rise, to ensure inflation returns to its target range over the medium term.

Market Views

• Asia-Pacific markets were mixed on Wednesday morning after Wall Street’s sharp losses overnight, and New Zealand central bank’s continued move to hike its benchmark interest rate. Hang Seng index rose 45 points while Nikkei 225 index dropped 358 points.
  
• Bank of Japan board member Naoki Tamura said that it is appropriate for the central bank to maintain its current ultra-dovish monetary policy stance, according to a speech

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 33,163

Target price:

Protective stop:

Outlook
Price broke and closed below the triangle pattern last night with a long bearish candle. We could see a return move to retest the rising trendline before the next downward movement to 31,890. Stochastic is falling and MACD is bearish.

Trading Idea
Sell 33,950 for 33,300 with a stop above 34,300.

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation: Short @ 15,500

Last: 15,380

Target price: 15,200

Protective stop: 15,700

Outlook
This index could have formed a price high at 15,656. This could be a possible top if price unable to penetrate this zone. We are likely to see price retracing to 14,900 if it violates the 20EMA support. Both Stochastic and MACD are falling.

Trading Idea.
Sell 15,500 with a stop above 15,700 for 15,200. Entry order was filled on 14 Feb.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 12,096

Target price:

Protective stop:

Outlook
Price broke and closed below the 20EMA last night with a bearish candle. The 20EMA is falling, suggesting potential downside ahead. MACD is bearish and Stochastic is falling. We are likely to see price falling to 11,510.

Trading Idea
Wait for better trading idea.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation:

Last: 7956

Target price:

Protective stop:

Outlook
Price created a new high at 8044 on 16 Feb. This could be a possible price high and we are likely to see price retracing to 7834 if it violates the 20EMA support. Stochastic is at the overbought zone. MACD is falling and is giving potential divergence warning.

Trading Idea
Wait for better trading idea.