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Market Analysis

Home » Latest News » Option Banque Technical Analysis Report: 04-Apr-2016

Option Banque Technical Analysis Report: 04-Apr-2016

Posted by Option_Banque in Latest News - April 4th, 2016 1:11 pm GMT

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Read full technical analysis report here

The greenbacks dims on Monday, extending losses against the euro and yen. On Friday the U.S jobs report confirmed that the Federal Reserve would remain cautious on raising interest rates this year. According to the data on Friday, U.S. non-farm payrolls rose by 215,000 on March. This was slightly higher than the forecast of 210,000. However, the unemployment rate rose to 5.0 percent from an eight-year low of 4.9 percent.

Oil prices dropped on Monday as the chances of Middle East producers agreeing to reduce overproduction seem to fade. The U.S. output remains relatively high. Last week, Saudi Arabia said it would only participate in a global freeze of its output if Iran also joined in. This made the fall of oil prices extend. In addition to that, the US production continued at a high level despite the steep cut in the number of drillings.

According to a survey of the Bank of Japan, the long-term inflation expectations of the country’s companies have weakened in March. This signals that the January’s decision to adopt negative interest rates has failed to convince firms that price rises will accelerate over time. Companies expect consumer prices to rise about 0.8 percent a year from now. These stats were lower than the 1.0 percent increase expected three months ago.

Australian shares rose on Monday as positive U.S. data helped lift markets across Asia, though the drop in oil prices put down the energy sector. The Reserve Bank of Australia (RBA) is going to hold its April policy meeting on Tuesday and is widely expected to keep the cash rate at a record low 2 percent.

Technicals

AUDUSD

AUDUSD is fluctuating in a wide range after heading towards the resistance of 0.77230 on the last day of March. The SMA 14 (green line) and SMA 21 (red line) are getting closer and meeting the price chart. If the two lines cross, the downward pressure of the dots band above will continue, the pair is expected to dim further.

Trade suggestion
Buy Digital Put Option at 0.75972, Buy Digital Call Option at 0.76245.

GBPUSD

The Stochastics chart shows that GBPUSD is in the oversold territory. The %K line (blue line) already lies above the %D line (red line), preparing for a reversal. The price reached the support of 1.41688 before rising slightly for several hours. The pair seems to slide a little as the dots band still casts the shadow on the price chart and then surge up.

Trade suggestion
Buy Digital Put Option at 1.41710, Buy Digital Call Option at 1.42243.

CADJPY

The pair has been falling from the resistance of 87.435 since March 31. The short-term EMA (green line) just passed the long-term EMA (red line) and the two are moving above the price. CADJPY is on the strong selling market with RSI’s reading is at 39.7278, smaller than average.
Trade suggestion
Buy Digital Put Option at 85.315, Buy Digital Call Option at 85.555.

GOLD

GOLD bounced back after reaching the support of 1207.69 on March 28 and now is extending the current downtrend. The price movement is under the SMAs’ shadow, indicating that the metal may go down continuously. The price is anticipated to retest the support of 1207.69 after agitating in short term.

Trade suggestion
Buy Digital Put Option at 1206.89, Buy Digital Call Option at 1219.23.

WTI

WTI is on the way down with the pressure from the dots band above. The stochastics chart shows that the commodity is diving in the oversold territory, however there are no clear signals for reversal as the %D line (blue line) has not yet lied below the %K line (red line). The downtrend is expected to continue in short term and then the price will bounce back, escape the bearish market.

Trade suggestion
Buy Digital Put Option at 35.797, Buy Digital Call Option at 36.574

DAX

The SMA 14 and SMA 21 have kept crossing together for period of time and no clear signals given to create a new trend. The stochastic shows that the index just reached the oversold zone and bounced back immediately. The price is predicted to climb up strongly and cover the wide gap formed last week.

Trade suggestion
Buy Digital Put Option at 9729.63, Buy Digital Call Option at 9816.65.

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