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Market Analysis

Home » Latest News » Option Banque Technical Analysis Report: 05-Apr-2016

Option Banque Technical Analysis Report: 05-Apr-2016

Posted by Option_Banque in Latest News - April 5th, 2016 4:06 pm GMT

Read full technical analysis report here

The US economic growth has slowed further in the first quarter of this year. On Monday, the Commerce Department announced that new order in manufacturing section fell 1.7% due to declined demand, following the downward pressure for the last 19 months. They also said that the so-called core capital goods’ orders (excluding aircraft) in February was down significantly by 2.5% instead of the 1.8% as initially thought. After these downbeat data, the US government bond did show a little change in price.
Investors are awaiting brighter signals for strengthening in the euro area as the sentix investor confidence released yesterday showed a rise marginally to 5.7, from the level 5.0 in February. The Eurozone sees bright signals for strengthening. The seasonally-adjusted unemployment rate in February was down slightly to 10.3%, from 10.4% in previous month, compared with the reading 11.2% in the same period in 2015. These positive data gave market a strong momentum.
In Japan, real wages, inflation-adjusted basic, increased the first time in four months by 0.4% in February from a year earlier, indicating that the consumer spending might climb up. Whereas, the Bank of Japan Governor Kuroda on Tuesday stated that the monetary easing policy can be considered to implement if it is necessary to prevent deflation.
In today’s meeting, the Australian Reserve bank decided to let the cash rate remain unchanged at 2.0%. This was due to inflation close to the target as shown by prospects.



AUDUSD gained consecutively from the support at 0.68192, the lowest level of the year, to as high as 0.77188. After getting closed to the overbought territory, the pair inched down at 0.75851 with RSI 57, indicating that the buying power is weaker and weaker. The pair is anticipated to test the support level at 0.73894, created on April 12, 2015.

Trade suggestion
Buy Digital Call Option at 0.75821, Buy Digital Put Option at 0.75581.


The Euro dropped significantly against the Japanese Yen due to the pressure of the moving average above, from the resistance at 128.220, created on April 1. RSI is now hovering around 30, indicating strong selling power. As shown the long body of the last candles, the pair is expected to continue the downtrend and hit the support level at 125.269.

Trade suggestion
Buy Digital Call Option at 125.861, Buy Digital Put Option at 125.269.


USDCHF current price is 1.02530. After hitting the solid resistance at 1.02530, the pair witnessed strong downtrend with RSI hovering around level 30, indicating continuous bearish market. With the short-term moving average putting pressure above, the pair is anticipated to hit the resistance at 0.96624 then pulling back and fall further.

Trade suggestion
Buy Digital Call Option at 0.96628, Buy Digital Put Option at 0.95706.


SILVER has witnessed strong fall from the resistance at 16.336, formed on October 28, 2015 then bounced back greatly and is now traded at 15.062. The commodity is now in uptrend despite the moving average moving above. The price is supposed to retest the resistance level at 15.528, formed on March 31.

Trade suggestion
Buy Digital Call Option at 15.450, Buy Digital Put Option at 14.890.


FTSE is currently traded at 6117.40. The index is moving in sideways with narrow ranges between 5997.15 and 6239.42, due to the pressure of the strong uptrend before. RSI is hovering below level 50, indicating no clear direction. There is likely a strong movement of the price after this period. At the moment, the index is expected to retest the support at 5997.15, formed on March 10.

Trade suggestion
Buy Digital Call Option at 6218.08, Buy Digital Put Option at 6030.12.


SPX is in strong uptrend with the current price 2056.09. The index has trimmed the gain from the strong resistance at 2079.48, created on April 4. With RSI hovering around 50 and heading down, the index may witness slight down, hitting the support level at 2047.87 before bouncing back.

Trade suggestion
Buy Digital Call Option at 2056.99, Buy Digital Put Option at 2021.71.

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