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Sep 28, 2016

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Market Analysis

Home » Latest News » Option Banque Technical Analysis Report: 28-Mar-2016

Option Banque Technical Analysis Report: 28-Mar-2016

Posted by Option_Banque in Latest News - March 28th, 2016 3:25 pm GMT

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Read full technical analysis report here

Today, the greenbacks surged up against Euro and Yen after rebounding last week. It was helped by comments from Fed officials that they could raise interest rates as early as next month.

The dollar index against a basket of six major currencies rose 0.2 percent to 96.378, the highest in almost two weeks. The dollar rose 0.6 percent to 113.64 yen, remaining its recovery from a 6-1/2-month low of 110.67 hit on March 17.

The market is now waiting for a speech from Fed Chair Janet Yellen on the economic outlook and monetary policy on Tuesday (March 29). A few other Fed policymakers are also due to speak on the same day, making the Fed’s policy the biggest focus for now.

In Japan, with the market dominated by the BOJ’s massive buying and its policy decisions, many investors expect high volatility to persist, giving the holders of JGBs a headache.

Oil prices rose in early Asian trading on Monday after a three-day break, but with small volume as a number of markets remain closed on account of Easter. The decline in the U.S. rig count and strong gasoline demand were the reasons for some of that recovery. However, the main reason was major producers’ plans to freeze output at January’s highs.

Technicals

EURUSD

EURUSD is on track to fall as low as 1.11604 from the resistance of 1.13450, formed on March 17. The dots band has been separated by a green candle and now is lying under the price movement, giving support to surge up. However, RSI’s reading is standing at 40.4364, smaller than the average. This indicates that the bear is still overwhelming. The pair is anticipated to move sideways in a short period of time and then rise up when the bull comes.

Trade suggestion
Buy Digital Call Option at 1.12220, Buy Digital Put Option at 1.11315.

AUDUSD

AUDUSD is extending the downward pressure for a period of time with the current price at 0.75094. The EMA 10 (blue line) is under the EMA 30 (red line) and no signals of crossing given. The pair is expected to enter the bearish market, following the lead of the two EMAs above.Trade suggestion
Buy Digital Call Option at 0.75935, Buy Digital Put Option at 0.74715.
GBPJPY

The two SMA lines just crossed but the price has already surged up as high as 160.565 and expected to climb more. The Stochastic chart shows that the pair is in the overbought territory and the %K line (blue line) is heading up, refusing to cross the %D line. The upward trend may continue for a while and then pull back soon.

Trade suggestion
Buy Digital Put Option at 159.706, Buy Digital Call Option at 161.750.

SILVER
The dots band is lying above the price movement, putting a downward pressure on the metal. The commodity is currently traded at 15.141 and seems to inch down continuously. RSI is at 28.3170, below the oversold level, showing that the price just approached the strong bearish market. A bounce back is expected after heading to the support of 15.090.Trade suggestion
Buy Digital Call Option at 15.320, Buy Digital Put Option at 15.125.

WTI

The price climbed to 40.08 after testing the support of 38.64. The dots band lies above the price movement for a period of time before meeting the chart, a break is expected to occur. The commodity is anticipated to continue rising up as the bullish signal is flagged.

Trade suggestion
Buy Digital Call Option at 41.819, Buy Digital Put Option at 38.766

NASDAQ
NASDAQ is moving in a slight uptrend with the current price at 4409.28. The Stochastic chart shows that the index has just surged up after nearly reaching the oversold territory. The current trend is expected to continue for a period of time and test the resistance of 4447.25 before pulling back.

Trade suggestion
Buy Digital Put Option at 4438.58, Buy Digital Call Option at 4419.65.

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