Flexianalysis
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Technical analysis, fundamental analysis and market forecasts
Daily market Analysis by flexi analysis
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Flexianalysis
Private, 1st Class
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USD/JPY INTRADAY: UNDER PRESSURE.
Pivot 123.05
Our Preference Short positions below 123.05 with targets @ 122.55 & 122.35 in extension.
Alternate Scenario Above 123.05 look for further upside with 123.25 & 123.4 as targets.
Comments The RSI is badly directed.
S1 122.55
S2 122.35
S3 122
R1 123.05
R2 123.25
R3 123.4
Pivot 123.05
Our Preference Short positions below 123.05 with targets @ 122.55 & 122.35 in extension.
Alternate Scenario Above 123.05 look for further upside with 123.25 & 123.4 as targets.
Comments The RSI is badly directed.
S1 122.55
S2 122.35
S3 122
R1 123.05
R2 123.25
R3 123.4
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USD/CHF INTRADAY: THE BIAS REMAINS BULLISH.
Pivot 1.0155 Our Preference Long positions above 1.0155 with targets @ 1.022 & 1.025 in extension.
Alternate Scenario Below 1.0155 look for further downside with 1.0115 & 1.0075 as targets.
Comments USD/CHF Intraday: the bias remains bullish.S1 1.0155
S2 1.0115
S3 1.0075
R1 1.022
R2 1.025
R3 1.029
Pivot 1.0155 Our Preference Long positions above 1.0155 with targets @ 1.022 & 1.025 in extension.
Alternate Scenario Below 1.0155 look for further downside with 1.0115 & 1.0075 as targets.
Comments USD/CHF Intraday: the bias remains bullish.S1 1.0155
S2 1.0115
S3 1.0075
R1 1.022
R2 1.025
R3 1.029
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AUD/USD INTRADAY: KEY RESISTANCE AT 0.7215.
Pivot 0.7215
Our Preference Short positions below 0.7215 with targets @ 0.715 & 0.7115 in extension.
Alternate Scenario Above 0.7215 look for further upside with 0.725 & 0.727 as targets.
Comments As long as the resistance at 0.7215 is not surpassed, the risk of the break below
0.715 remains high.
S1 0.715
S2 0.7115
S3 0.709
R1 0.7215
R2 0.725
R3 0.727
Pivot 0.7215
Our Preference Short positions below 0.7215 with targets @ 0.715 & 0.7115 in extension.
Alternate Scenario Above 0.7215 look for further upside with 0.725 & 0.727 as targets.
Comments As long as the resistance at 0.7215 is not surpassed, the risk of the break below
0.715 remains high.
S1 0.715
S2 0.7115
S3 0.709
R1 0.7215
R2 0.725
R3 0.727
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Gbp/jpy intraday: Under pressure.
Pivot 186.4
Our Preference Short positions below 186.4 with targets @ 185.35 & 184.95 in extension.
Alternate Scenario Above 186.4 look for further upside with 187 & 187.45 as targets. Comments As long as 186.4 is resistance, look for choppy price action with a bearish bias.
S1 185.35
S2 184.95
S3 184.3
R1 186.4
R2 187
R3 187.4
Pivot 186.4
Our Preference Short positions below 186.4 with targets @ 185.35 & 184.95 in extension.
Alternate Scenario Above 186.4 look for further upside with 187 & 187.45 as targets. Comments As long as 186.4 is resistance, look for choppy price action with a bearish bias.
S1 185.35
S2 184.95
S3 184.3
R1 186.4
R2 187
R3 187.4
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Flexianalysis
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- Messages
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Flexianalysis
Private, 1st Class
- Messages
- 64
Flexianalysis
Private, 1st Class
- Messages
- 64
AUD LITTLE CHANGED AHEAD OF RBA GOVERNOR SPEACH
The Australian dollar was little changed in Asia on Tuesday as traders awaited a major speech by Reserve Bank of Australia Gov. Glenn Stevens.
At 0545 GMT Tuesday, the Australian dollar was trading at US$0.7202, up from US$0.7182 late Monday.
Mr. Stevens will speak to a conference of economists at 0900 GMT about the challenges facing the economy over the longer term.
Still, there will be the usual focus on short-term issues, with the RBA sidelined since May, when it cut interest rate to a record low 2.0%.
Financial market bets on a further rate cut in Australia have been reduced in recent weeks after a report on the job market in October showed strong employment growth.
Mr. Stevens has said while there is scope to cut rates again, there are signs the economy is improving.
“Stevens will likely be asked about the RBA’s easing bias, the inflation outlook and may get questioned on the recent lift in the currency relative to the RBA’s commodity price index,” said Richard Grace, head of currency strategy at the Commonwealth Bank.
The RBA seems more assured about the outlook for the economy, citing hefty declines in the Australian dollar and improving exports as part of the reason, Mr. Grace said.
Still, with Australia’s economy improving, and business and consumer confidence also lifting, Stevens will have to make sure he remains upbeat overall, ” Mr. Grace added.
The Australian dollar was little changed in Asia on Tuesday as traders awaited a major speech by Reserve Bank of Australia Gov. Glenn Stevens.
At 0545 GMT Tuesday, the Australian dollar was trading at US$0.7202, up from US$0.7182 late Monday.
Mr. Stevens will speak to a conference of economists at 0900 GMT about the challenges facing the economy over the longer term.
Still, there will be the usual focus on short-term issues, with the RBA sidelined since May, when it cut interest rate to a record low 2.0%.
Financial market bets on a further rate cut in Australia have been reduced in recent weeks after a report on the job market in October showed strong employment growth.
Mr. Stevens has said while there is scope to cut rates again, there are signs the economy is improving.
“Stevens will likely be asked about the RBA’s easing bias, the inflation outlook and may get questioned on the recent lift in the currency relative to the RBA’s commodity price index,” said Richard Grace, head of currency strategy at the Commonwealth Bank.
The RBA seems more assured about the outlook for the economy, citing hefty declines in the Australian dollar and improving exports as part of the reason, Mr. Grace said.
Still, with Australia’s economy improving, and business and consumer confidence also lifting, Stevens will have to make sure he remains upbeat overall, ” Mr. Grace added.
Last edited:
Flexianalysis
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Declining metal prices bring Asian mining shares down
A slide in commodities prices pressured resources shares in Australia and Hong Kong on Tuesday, while investors elsewhere in the region tried to navigate global central banks' split approaches to monetary policy.
Expectations are firming that the Federal Reserve will raise interest rates at its December meeting while European Central Bank has hinted it stands prepared to boost stimulus next month.
The Fed's recent rhetoric has strengthened the U.S. dollar which, coupled with slackening demand, helped push base metals from copper to aluminum and nickel to multiyear lows on Tuesday.
Australia's S&P/ ASX 200 fell 1% to finish at the day's low of 5226.40 and the materials sector fell 1.8%. Australian shares receded from their highest level in about a month, reached Monday.
Hong Kong's Hang Seng Index slipped 0.4%, as its materials sector lost 1%.
Meanwhile, Japan's Nikkei Stock Average finished up 0.2% at 19924.89, its highest level since late August. South Korea's Kospi gained 0.6%. The Shanghai Composite Index rose 0.2%, even as authorities scrapped brokerages' selling restrictions, put in place in the throes of the summer selloff.
The U.S. dollar has strengthened as investors wager that the Fed will raise interest rates for the first time since June 2006 at its December policy meeting. The euro hit a seven-month low Monday in Asia at $1.0591 but strengthened slightly to $1.0634 on Tuesday.
On Tuesday, several base metals traded near multiyear lows as a stronger dollar adds to worries about weaker global demand. Many metals are priced in dollars and become more expensive to global buyers as it strengthens.
Three-month copper futures on the London Metal Exchange last traded at $4,511 a ton, from the opening price of $4,480 per ton, after sinking to a 6 1/2-year low on Monday.
Aluminum last traded at $1,456 per ton, higher than the opening price of $1,438.50 a ton. The metal also slipped to a 6 1/2 -year low on Monday.
On Tuesday, nickel hit a fresh 12-year low at $8,145 per before rising ton, to $ $8,400 per ton.
Among mining stocks, BHP Billiton Ltd. and Rio Tinto Ltd. fell 1.8% and 1.5%, respectively. South32 Ltd. fell 2.5% and iron-ore producer Fortescue Metals Group Ltd. shed 3.2%.
In Singapore, shares of commodities trader Noble Group fell 1.2% after Standard & Poor's put the firm's investment-grade rating on a negative credit watch. The move means the rating agency could downgrade the company in the next three months. By comparison, Singapore's FTSE Strait Times Index rose 0.9%.
In China, authorities are allowing brokerages to freely buy and sell shares in daily proprietary trading, according to an internal directive seen by The Wall Street Journal. Since early July, regulators required brokerages to buy more stocks than they sold, as part of an effort to stem a stock-market crash. The measure signals officials' growing confidence in the market's recovery, which has risen 24% since its low in August.
Still, lingering worries that a wave of initial public offerings before the year-end limited China's gains. A rash of IPOs could trigger volatility as investors free up holdings to invest in new share listings. Some 28 companies are expected to list before the end of 2015, after authorities froze new listings during the summer stock selloff.
"Investors have little incentive to raise positions, especially ahead of the [imminent] launch of 10 initial public offerings, which may lock up around 1 trillion yuan ($156 billion)," said Zhou Xu, an analyst at Nanjing Securities, of expectations for the first batch of listings.
Brent crude oil, the global benchmark, rose 1% to $45.28 a barrel. In the U.S., crude-oil futures lost 0.4% overnight to $41.75 a barrel.
Gold prices rose 0.5% at $1,071.80 a troy ounce.
A slide in commodities prices pressured resources shares in Australia and Hong Kong on Tuesday, while investors elsewhere in the region tried to navigate global central banks' split approaches to monetary policy.
Expectations are firming that the Federal Reserve will raise interest rates at its December meeting while European Central Bank has hinted it stands prepared to boost stimulus next month.
The Fed's recent rhetoric has strengthened the U.S. dollar which, coupled with slackening demand, helped push base metals from copper to aluminum and nickel to multiyear lows on Tuesday.
Australia's S&P/ ASX 200 fell 1% to finish at the day's low of 5226.40 and the materials sector fell 1.8%. Australian shares receded from their highest level in about a month, reached Monday.
Hong Kong's Hang Seng Index slipped 0.4%, as its materials sector lost 1%.
Meanwhile, Japan's Nikkei Stock Average finished up 0.2% at 19924.89, its highest level since late August. South Korea's Kospi gained 0.6%. The Shanghai Composite Index rose 0.2%, even as authorities scrapped brokerages' selling restrictions, put in place in the throes of the summer selloff.
The U.S. dollar has strengthened as investors wager that the Fed will raise interest rates for the first time since June 2006 at its December policy meeting. The euro hit a seven-month low Monday in Asia at $1.0591 but strengthened slightly to $1.0634 on Tuesday.
On Tuesday, several base metals traded near multiyear lows as a stronger dollar adds to worries about weaker global demand. Many metals are priced in dollars and become more expensive to global buyers as it strengthens.
Three-month copper futures on the London Metal Exchange last traded at $4,511 a ton, from the opening price of $4,480 per ton, after sinking to a 6 1/2-year low on Monday.
Aluminum last traded at $1,456 per ton, higher than the opening price of $1,438.50 a ton. The metal also slipped to a 6 1/2 -year low on Monday.
On Tuesday, nickel hit a fresh 12-year low at $8,145 per before rising ton, to $ $8,400 per ton.
Among mining stocks, BHP Billiton Ltd. and Rio Tinto Ltd. fell 1.8% and 1.5%, respectively. South32 Ltd. fell 2.5% and iron-ore producer Fortescue Metals Group Ltd. shed 3.2%.
In Singapore, shares of commodities trader Noble Group fell 1.2% after Standard & Poor's put the firm's investment-grade rating on a negative credit watch. The move means the rating agency could downgrade the company in the next three months. By comparison, Singapore's FTSE Strait Times Index rose 0.9%.
In China, authorities are allowing brokerages to freely buy and sell shares in daily proprietary trading, according to an internal directive seen by The Wall Street Journal. Since early July, regulators required brokerages to buy more stocks than they sold, as part of an effort to stem a stock-market crash. The measure signals officials' growing confidence in the market's recovery, which has risen 24% since its low in August.
Still, lingering worries that a wave of initial public offerings before the year-end limited China's gains. A rash of IPOs could trigger volatility as investors free up holdings to invest in new share listings. Some 28 companies are expected to list before the end of 2015, after authorities froze new listings during the summer stock selloff.
"Investors have little incentive to raise positions, especially ahead of the [imminent] launch of 10 initial public offerings, which may lock up around 1 trillion yuan ($156 billion)," said Zhou Xu, an analyst at Nanjing Securities, of expectations for the first batch of listings.
Brent crude oil, the global benchmark, rose 1% to $45.28 a barrel. In the U.S., crude-oil futures lost 0.4% overnight to $41.75 a barrel.
Gold prices rose 0.5% at $1,071.80 a troy ounce.
Flexianalysis
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