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Market Analysis

Home » Latest News » Option Banque Technical Analysis Report: 12-Apr-2016

Option Banque Technical Analysis Report: 12-Apr-2016

Posted by Option_Banque in Latest News - April 12th, 2016 3:53 pm GMT

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Read full technical analysis report here

On Tuesday, both U.S. and international crude futures stayed above $40 per barrel in front of the meeting of major producers on the discussion of freezing output levels to deal with the global oversupply.
Next Sunday, major oil producers from the Middle East and Russia, excluding the United States, is going to join a meeting in Doha. They will together discuss measures to cope with the global glut, which sees around 2 million barrels of crude produced in excess of demand everyday. Most analysts expect that these producers will freeze their output around the January level, which is already close to the record levels.
In Asia, the stock market gained today, led by a surge in Japanese shares after crude oil prices advanced as the weaker U.S. dollar made them cheaper for buyers using other currencies. Japan’s Nikkei, which hovered around two-month lows on Friday, recovered a little and gained more than 1 percent on bargain hunting in beaten-down shares such as banking stocks. Australian shares also climbed 0.9 percent, supported by firm commodities.
In the European market, as being hurt by low commodity prices and the strong U.S. dollar, the metals company Alcoa Inc reported lower quarterly profit, also lowered its outlook for global sales in the aerospace industry in 2016. European stocks were seen opening a little lower on Tuesday, with weak-looking results from Alcoa potentially weighing on the mining stocks.

Technicals

EURGBP

EURGBP is on way down after testing the resistance of 0.81153 last Thursday. The Stochastics chart shows that the pair is diving in the oversold territory, a reversal to uptrend is awaited after a period of time dimming more as the SMA lines hang over the price chart.

suggestion
Buy Digital Put Option at 0.79564, Buy Digital Call Option at 0.80095.

USDJPY

USDJPY followed the strong downtrend for a period of time and is moving sideways lately. The price is witnessing a breakout as the price has broken the resistance. The current downtrend is abating as the ADX (14) has lowered to 35.29 from the high of around 70, the +DI crossed the –DI from below, showing that the trend is on the course to change.

Trade suggestion
Buy Digital Put Option at 107.650, Buy Digital Call Option at 109.097.

AUDUSD

Aussie is on track to strengthen against the greenback as the dots band below gives the pair upward assistance. The Stochastics chart shows that the pair is entering the overbought territory, anticipated to climb more as the ADX stands at 46.9257, indicating the uptrend is very strong.

suggestion
Buy Digital Call Option at 0.76726 and Digital Put Option at 0.76229

WTI

RSI indicator is swinging around the overbought level, standing at 69.7342. WTI is in a strong bullish market, the uptrend may continue for a while, supported by the EMA lines below. The commodity is forecasted to retest the resistance of 42.55 before pulling back.

Trade suggestion
Buy Digital Put Option at 40.065 and Digital Call Option at 40.977

SILVER

The short-term SMA (green line) refused to cross the long-term SMA (red line) and heads up. SILVER is taking pressure from the two SMAs below, increasing significantly. DI- is smaller than DI+, suggesting a buying position. ADX indicating that the bull is overshadowing strongly as registering at 56.9337. The price is expected to break the current resistance and surge up sharply.

Trade suggestion
Buy Digital Put Option at 15.817 and Digital Call Option at 16.070.

DAX

Assisted by the dots below, DAX is on track to rise from the support of 9440.65, after a wide gap created early this week. The index is anticipated to test the resistance of 9788.02 before declining. RSI is lingering near the average at 52.44, implying no clear direction. More signals is needed to confirm a new trend.

Trade suggestion
Buy Digital Put Option at 9663.4 and Digital Call Option at 9811.4

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