Archive for the ‘Uncategorized’ Category

EUR/USD: Neutral: Odds for a move above 1.0870/75 are not high.

The 1.0825/30 level that we have talked about since Thursday was finally met with an overnight high of 1.0825. Shorter-term upward momentum is slowing down and while a move above 1.0825/30 would not be surprising, the odds for a break above last December high of 1.0870/75 are not high. Support is at 1.0745 but only a move back below 1.0715 would indicate that a short-term top is in place.

GBP/USD: Bullish: To take half-profit at 1.2545/50.

GBP hit an overnight high of 1.2507 before closing on a strong note. The bullish phase that started on Monday  is still intact. However, from a shorter-term perspective, the rally appears to be running ‘too fast, too soon’ and those who are long should look to book half-profit at 1.2545/50, just below the 1.2570 high seen in late February. Stop-loss is unchanged at 1.2340.

AUD/USD: Neutral: In a 0.7600/0.7730 range.

There is not much to add as we continue to view the current movement as part of a 0.7600/0.7730 consolidation phase even though the immediate bias is for a probe lower towards the low end of the expected 0.7600/0.7730 range. Looking further ahead, as long as there is no sustained drop below 0.7600, we expect the current consolidation to be resolved to the upside.

NZD/USD: Neutral: In a 0.6950/0.7090 range.

As highlighted yesterday, NZD has likely made a short-term top at 0.7090 earlier this week. The current price action is viewed as part of a consolidation phase that could last for several days. Overall, expect sideway trading from here, likely between 0.6950 and 0.7090.

USD/JPY: Neutral: No signs of stabilization just yet.

While we expected USD to extend its decline towards 111.05/10, the pace of the drop and the ease of which this level is taken out came as a surprise (overnight low of 110.71). Despite being severely oversold, there is no sign of stabilization just yet and further weakness towards the psychology level of 110.00 is not ruled out. Overall, this pair is expected to stay under pressure unless it can move above stay above 112.50.

EUR/USD: Neutral: Recovery to extend to 1.0825/30

It took a while but EUR finally managed to move above 1.0800 and hit an overnight high of 1.0819. This level is just below the solid 1.0825/30 resistance and as indicated in recent updates, is unlikely to yield so easily. That said, in view of the strong daily closing yesterday, a move above this level is not ruled out but shorter-term indicators are severely overbought and the odds for a move above last December high of 1.0870/75 are not high. On the downside, support is at 1.0745 but only a move back below 1.0715

AUD/USD: Neutral: In a 0.7600/0.7730 range.

AUD eked out a fresh high of 0.7750 but was unable to hold on to its gain. The subsequent sharp drop from the high indicates that the upward pressure post-FOMC has eased off. A temporary top is likely in place at 0.7750 and AUD is deemed to have moved into a sideway-trading range. That said, the immediate bias is for a probe lower towards the low end of the expected 0.7600/0.7730 consolidation range.

NZD/USD: Neutral: In a 0.6950/0.7090 range.

The rebound target of 0.7085 that was first highlighted last Thursday was exceeded as NZD hit a high of 0.7090 yesterday. However, the subsequent sharp drop from the high was unexpected. An interim top is likely place and NZD is deemed to have moved into a consolidation phase, likely between 0.6950 and 0.7090.

USD/JPY: Neutral: Oversold but room for extension to 111.05/10.

The sudden acceleration lower yesterday that took out the strong 111.65/70 support was unexpected. The decline is severely oversold especially from a shorter-term perspective but there is room for further extension to 111.05/10. Key short-term resistance has moved lower to 112.50.

Source: United Overseas Bank Global Economics & Markets Research

Southeast Asian stock markets ended little changed in dull trade on Tuesday as investors were cautious ahead of a widely expected  interest rate hike by the U.S. Federal Reserve next week amid concerns about President Donald Trump’s economic policies. 
Fed Chair Janet Yellen has signalled that the central bank might raise interest rates at its next meeting on March 14-15, and may move faster after that than it has in years.
After Janet Yellen’s speech last week, the market will be ready for a rate hike when the U.S. Federal Reserve meets next week unless this Friday’s jobs report is a disaster.

Consumer prices rose 3.3 percent but was within the range the central bank had expected, the statistics agency said.
Singapore shares rose after two sessions of falls, buoyed by financials and industrials. Real estate company CapitaLand Ltd gained 2.3 percent, while automotive conglomerate Jardine Matheson Holdings Ltd climbed 0.6 percent.

SGX & KLCI TRADING CALLs for Today

Posted: February 22, 2017 in Uncategorized

107d7ddca87f986a4a0bccf5db415412images-26

SGX TRADING CALL 

#BUY CAPITACOM TRUST AT 1.560 TGT 1.600 SL 1.520 

#BUY GENTING SINGAPORE AT 0.980 TGT 1.015 SL 0.945 

KLCI TRADING CALL

#BUY BTM AT 0.315 TGT 0.355 SL 0.275 

#UPDATE: MUHIBAH MDE HIGH OF 2.560 OUR TARGET MADE HIGH OF 2.560 OUR TARGET ACHIEVED. KINDLY BOOK PROFIT IN IT 

If you want to look more calls or signals like that Register NOW

BUY BTM AT 0.315 TARGET 0.355 SL 0.275

Date Open High Low Close Volume VWAP
21 Feb 2017 0.295 0.325 0.295 0.310 5,447,000 0.3129
20 Feb 2017 0.295 0.300 0.295 0.295 219,500 0.2980
17 Feb 2017 0.295 0.295 0.295 0.295 261,500 0.2950
16 Feb 2017 0.295 0.300 0.295 0.295 262,000 0.2960
15 Feb 2017 0.305 0.305 0.295 0.300 341,600 0.3008
14 Feb 2017 0.290 0.305 0.290 0.305 1,022,800 0.2982

GBPUSD
The GBP/USD pair rallied during the initial hours on Monday, but took a U-turn and formed a negative candle. We have a negative omen with the shooting star appearing at the bottom of the down trend and as a result, we arrive at the conclusion that any break down below the bottom of the range will continue to push this market down towards 1.45 level. We are not entering long position until we are above the 1.50 level, Which seems highly unlikely in the present scenario. 3 Days Free  Trail Signals
EURUSD
The EUR/USD pair got whipsawed on Monday and generated an outside day with a closing below the previous days low. The exchange rate felt the heat due to pressure despite a minor increase in the Eurozone manufacturing PMI numbers as the traders grabbed US dollar for safety from the rapid decline in the Chinese Equity market. We have a Resistance in the neighborhood of 20-day Moving Average at 1.0918, while a support is present at 1.0780. The MACD(Moving Average Convergence Divergence) indicator is signalling negative momentum.
AUDUSD
The AUD/USD pair slipped on Monday, and checked the depth of the ascending triangle we have been exploiting till now. At the present moment, we are not sure when the buyers might enter, hence our hesitation in taking short positions. Short positions would be tempting if cross 0.71 level and then we might as well enter them the Australian Dollar is not getting any help from the old markets which is an anomaly and as a result a breakdown may occur.
USDJPY
The USD/JPY pair fell during the course on Monday as Asian problems continued to pester. The Chinese lost 7% during their stock market training day, and that would have had people running towards the Japanese yen, due to it being considered a “safety currency” due to the fact its normally used as a proxy for Chinese market.
We fell below to test the 118.50 level that happens to be the bottom of the consolidation for the moth of August; however resistance in the zone forced us to turn back and form a hammer. Hence, we would be taking a long position as soon as we cross the top of the hammer.
On the flip side, if we break down below to118.50 level, that could attract the sellers and things might heat up as we reach the 116 zone. At present we are pitching for the buyers and hope for a upside breakout.

STI MARKET REVIEW:
Singapore’s benchmark Straits Times Index (STI) opened 0.2 percent or 4.91 points higher at 2882.53 on Monday and ended lower to -0.08 percent or points at -2.30. STI came off from its intra-day peak of 2889.14 and low of 2869.69. 3 Days Free Trial Signals
The Singapore market appears to be stuck in holiday mood because of many traders are still in leave.
LOCAL BOURSE
Singapore will provide advance estimates of GDP for the fourth quarter and for 2015. A quarterly survey by the Monetary Authority of Singapore (MAS) earlier this month showed that economists expect GDP to expand by 1.4% on a year-on-year basis in the fourth quarter, down from 1.9 per cent growth in the third quarter. The survey showed that full-year growth for 2015 was expected to be 1.9%.
MARKET FORECAST
STI is expected to consolidate in its next trading session. It has its support at 2857 and resistance at 2903. The RSI level is near the center line at 49.521 and if it crosses the center line then the market is expected to move up-to the level of 2910. The volume might be on the lower side due to the thin year ending and cautiousness of the investors over the high fluctuation in oil prices.
STI COUNTER SPECIFIC NEWS

  • Coal-mining group Geo Energy Resources has entered into a conditional sale-and-purchase agreement to buy the remaining 34 per cent shareholding interest in Borneo International Resources Pte Ltd that it does not already own for US$25 million.Borneo International Resources indirectly holds an effective equity interest of 98.96 per cent in PT Sungai Danau Jaya (SDJ), which holds coal-mining concession in South Kalimantan, Indonesia.
  • Xyec Holdings units Neutral Co and ACLOX Co will be merged with effect from 1 April 2016.The merger was proposed because both subsidiaries offer similar activities in the provision of experienced engineers to customers in major manufacturing industries, primarily IT Services.Xyec believes that the merger would lead to the more effective use of facilities and resources as well as better execution of operation currently performed by leveraging economies of scale.
  • Wee Hur Holdings has acquired an office building and an adjoining piece of land in Brisbane, Australia, for A$63 million ($64.2 million).With a net let table area of about 14,000 sqm, the property is located in the Central Business District of Brisbane.

GLOBAL FACTORS AND WORLD INDICES:

  • Asian stocks dipped on Monday amid a lack of immediate directional cues in light year-end trade, although Japanese shares managed to rise following a rebound in crude oil prices from multiple-year lows.Investors across asset markets were without some of the usual leads as markets in Europe and North America and many in Asia were closed on Friday for Christmas.MSCI’s broadest index of Asia-Pacific shares outside Japan gave up earlier modest gains.
  • China stocks tumbled more than 2 per cent on Monday, their biggest loss in a month, as weak industrial profit data and a looming revamp of how companies will be listed, weighed on the market.The blue-chip CSI300 index tanked 2.9 per cent, to 3,727.63, while the Shanghai Composite Index lost 2.6 per cent, to 3,533.78 points.
  • Tokyo stocks snapped a five-day losing streak in a quiet trading session Monday as bargain-buying and a weaker yen lifted the market in the last trading week of 2015.The benchmark Nikkei 225 index at the Tokyo Stock Exchange advanced 0.56 per cent, or 104.29 points, to close at 18,873.35.
  • Hong Kong stocks fell on Monday, pulled lower by a slump in mainland shares on the first trading day after last week’s Christmas holiday.The Hang Seng Index fell 1.0 per cent, to 21,919.62, while the China Enterprises Index lost 1.7 per cent, to 9,789.46 points.
  • Malaysian shares closed higher on Monday, with the Kuala Lumpur Composite Index gaining 7.22 points to 1,670.73.Some 1.91 billion lots, valued at RM1.72 billion, were traded. Gainers outnumbered losers 493 to 418.
  • Japan’s industrial output fell 1.0 per cent in November from the previous month, data showed on Monday, suggesting that sluggish emerging market demand continues to cloud the outlook for the economy.The fall compared with a median market forecast of a 0.6 per cent drop.
  • Gold held a weekly gain as investors weighed the outlook for inflation in the US for clues on the likely pace of interest rate increases by the the Federal Reserve in 2016.The metal gained 0.9 per cent last week.
  • Oil prices fell on Monday after the long Christmas weekend, with US crudes defending a newly gained premium over internationally traded Brent contracts.Front-month US West Texas Intermediate (WTI) futures were trading at US$37.91 per tonne, down 19 cents from their last settlement.Brent was down 18 cents at US$17.71 a barrel, meaning that US crude defended a premium it gained over the globally traded benchmark last week.
  • The dollar inched away from a two-month low against the yen on Monday, while a resumption in falls in oil prices took linked currencies including the Australian and Canadian dollars around a third of a percent lower.Australia and the key London market in currencies were among those still closed for local holidays.