Daily Market Analysis

Market Focus

US stocks market declined from an all- term high as investors waited for the warning season later in the week. Technology shares declined, led by Tesla Inc; Tesla contributed the most to the decline as one of its cars that happened to crash and kill two passengers. At the end of the day, the Dow Jones Industrial Average fell 123 points; the Nasdaq dropped 1% while the S&P 500 declined 0.5%.

American banks are cashing in on strong earnings to raise more debt at low rates. Banks are raising debt in bond market today. Such banks like Morgan Stanley, who launched a $7.5 billion bond sale with JPMorgan. With bond rates creeping up, issuers may prefer to front load borrowing rather than spread it out over the course of a year.

Emission- curbing metal, Palladium is on the way to its fresh record high as demand is getting back from restocking by automakers, who use palladium to build catalytic converters. As the economic recovery is getting better, restocking is expected to start taking place in the second half of 2020.

Main Pairs Movement:

Surge in imports at US ports becomes one of reasons to drag the US dollar down. With the Federal Reserve decided to stay course in the next coming months, the deterioration in trade deficits might undermine the US dollar, strengthening the dollar negative narrative. One of the examples is the surge of imports at the largest US ports on the west coast, implying that trade deficits are essentially widening fast. The diagram below has shown that imports have significantly increased.

The British Pound is up more than1.1% against the US dollar, aiming for February’s high above $1.42. The rally in the British Pound seems to have taken on a life of its own. Pound’s self- rally can be seen by the rising euro and falling dollar dichotomy, but pound’s rising momentum now seems to have taken on its own rocket ride. The bulls in the British Pound can possibly be the reason that the UK was able to quickly inoculate its people, and at the same time be able to reopen its economy with a fast pace.

The Japanese Yen is on the way to knock on the door of the major level, 108, against the US dollar. The rally seems to be mostly based on safe- haven demand, the Yen. And one of the possible moves might be the geological risks that the current crisis in Myanmar, which most relevant to the Japanese Yen. At the same time, another possible story might be that Japanese life insurers are starting a new year and determining whether or not to hedge their currency risk.

The EURUSD climbs above 1.20 level as the US dollar falls even though the US yields rise. Optimism about European region’s vaccination campaign has played a big role to help the bulls in the euro dollar.

Technical Analysis:

EURUSD (Daily Chart)

EURUSD has shown that the bulls are in charge, currently trading at 1.2035. With its current bullish momentum, the pair is heading toward the next immediate resistance at 1.2070. If the pair can successfully breach the resistance, it will accelerate toward the next level at 1.2175 as the upward momentum will lead the pair trade above both 20 SMA and 50 SMA. Moreover, the technical indicator, the MACD continues to lend support to the bulls while the RSI has not yet reached the overbought condition. That being said, EURUSD still sustains its upward traction.

Resistance: 1.2070, 1.2349

Support: 1.1945, 1.1695, 1.1492

GPBUSD (4 Hour Chart)

GBPUSD surges toward 1.40, extending its gain for a siixth consecutive day. However, in the near- term, its gain might pause as it nearly reaches the next immediate cap at 1.3993. At the same time, the RSI of 77 shows that the pair is extremely overbought despite of the MACD’s bullish signal remains very strong. In a bigger outlook, GBPUSD retains its bullish momentum since the pair has broken above its 200 SMA before rally over 150 pips while it is about 100 pips above the 50 SMA.

Resistance: 1.3993

Support: 1.3916, 1.3869, 1.3831

XAUUSD (Daily Chart)

After contesting the initial hurdle at $1778, Gold faces the adjustment, currently trading at 1770.45. In the near- term, gold retains bullish as its upward momentum remains valid according to the technical indicators; the MACD continues to lend support to gold’s bulls while the RSI is outside of the oversold territory, giving the pair continuation to extend further north. At the moment, the pair is in the stage of adjustment since it has reached the upper band of Bollinger Band, suggesting a temportary pause for the upside trend. On the upside, if gold can once again breach the resistance at 1778, then it will open up a path toward the next resistance at 1861.15; to the downside, if gold fails to break through the hurdle, then the initial price range of the adjustment is expected to see in between 1778 and 1749.27.

Resistance: 1778, 1861.15, 1953.46

Support: 1749.27, 1684.94

Economic Data

Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ” .

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Daily Market Analysis

Market Focus

Not even a week’s worth of evidence that the U.S. economy is coming back from the COVID-10 pandemic period has been able to derail the concerted rally sweeping stocks and bonds.

The S&P500 has surged up to record setting high. The Dow30 index gained consecutive days that crossed the 34000 thresholds for the first time ever, settle down to 34200.67. Wall Street wrapped up another winning week with the three major benchmarks all gaining more than 1%. The S&P 500 and the Dow posted their fourth straight positive week, while the tech-heavy Nasdaq has registered gains for three weeks in a row.

The last of the six largest U.S. banks to report– Morgan Stanley — posted stronger-than-expected earnings, bolstered by strong trading and investment banking results. Shares of the bank dipped 2.8%, trimming its year-to-date gains to about 14%.

The University of Michigan said Friday its preliminary consumer sentiment index rose to a one-year high of 86.5 in the first half of this month from 84.9 in March. At the meantime, strong housing data also propel the confidence for economy recovery.

Federal Reserve Governor Christopher Waller said Friday the U.S. economy is set to take off, but there’s still no reason to start tightening policy.

Main Pairs Movement:

The dollar fell, poised for the biggest weekly pullback since December, as a steep decline in Treasury yields curbed the allure of the U.S. currency. The franc gained Friday amid the Biden administration’s decision to drop Switzerland’s currency manipulator label. U.S. equities were set for another record high close.

EUR/USD +0.1% to 1.1978; touched 1.1995, highest since March 4; talk of barrier at 1.20 slows the ascent with buy stops above. EUR/GBP -0.3% at 0.86603; earlier climbed as much as 0.4% to 0.87192, the strongest level versus the pound since February as the region’s vaccine rollout gathers pace.

The New Zealand and Australian dollars were the worst performers in the G-10. USD/JPY +0.1% to 108.82; rose as much as 0.2%, but still exposed to further downside risks should U.S. yields resume a decline.

Technical Analysis:

EURUSD (4 Hour Chart)

Euro dollar continuously hit 1.199 level, its highest since March which also the cogent resistance level at current price action. Euro rebound from month-low was pushed by falling U.S. Treasury yields. At the meantime, U.S. policymakers have repeated multiple times this week that the ongoing massive stimulus program will remain in place until the economy actually recovers to pre-pandemic levels. For RSI aspect, indicator record 62 figure which suggest a bullish momentum. At moving average perspective, 60-long SMAs retain it ascending movement but 15-long SMAs is waning upward momentum to flat move.

Therefore, we foresee market will consolidate between 1.1900 and 1.192 range as mixed information. Other than this, if Treasuries yields keep moving to downward, euro still got the big chance for upper side.

Resistance: 1.199

Support: 1.192, 1.1877, 1.1796

GPBUSD (4 Hour Chart)

Sterling hovered for fifth consecutive days toward to last peak at 1.39 level which supported by a decline of greenback as well as U.S. Treasuries yields. On RSI side, indicator held 64 figure as of writing, suggesting a bullish momentum further. On average price aspect, it is noteworthy that happened a golden cross in the day.

On price action perspective, market seemingly is heading to a double bottom pattern as month-long scale. Therefore, we expect that still have a room for bull move in further market. On up side, the immediate resistance would be 1.3848, 1.3867 following.

Resistance: 1.3848, 1.3867

Support: 1.3798, 1.3772, 1.3718

XAUUSD (4 Hour Chart)

Gold continue accelerate to higher stage amid U.S. Treasuries yields sucessively slipped, trading at 1778.18 as of writing which hit 1 month peak. For technical perspective, RSI indicator is approaching over bought area again in this two day, however, daily chart still under 70 level which giving the pair a positive side for further extend. On ther other hand, 15 and 60-long SMAs indicator are both remaining upward trend.

All of all, after solidly stand above the bottom pattern, we believe the market will consistenly edge higher level. For the next immediate, we eyes on the pychological number at 1800 because there seems not price cluster upon. On defend side, certainly, 1760 around should be the first critical support as it is the shoulder level of bottom pattern.

Resistance: 1800, 1812.8

Support: 1759, 1754.5, 1722.75

Economic Data

Daily Position Report

PNL Changed (System Time 4/15 00:00- 4/15 23:50) Total PNL During the Day

Clients’ Loss was around 2.400 mio ten mins ahead of the EOD.

Intraday Client PNL

Clients Profit

Clients Loss

Client Net Position

BOOK Exposure & Top PNL at EOD

Market Focus

US equities market climbed to record highs with weekly unemployment claims data and retail sales signaling a speedy recovery in the US. At the same time, the US yields declined the most since February. High expectations of a strong economic recovery, combined with optimism over fiscal stimulus and monetary policy, have boosted US equities to record high. All told, the Dow Jones Industrial Averages surged 270 points; the Nasdaq advanced 1.1% and the S&P500 climbed 0.9% today.

European stocks hit a fresh record high as the pan- European Stoxx 600 climbed to a high of 438.29 today, 55% jump from a pandemic low. European equity markets are set to benefit from an acceleration in euro area GDP growth over the upcoming months after the reopening and the recovery in the US. And the expectation for next year is that market earnings estimates are forecast to be above 2019 levels.

As the US bond yields declined today, investors signaled fresh concerns about when banks are going to get back to their original business, which is money lending. Bank of America has reported that there is a 14% decline in loan balance whilst Citigroup also mentioned that its loans tumble around 10%. Concerns are that whether the country’s biggest banks can meaningfully increase lending contributed to share- price declines today with Bank of America slumping as much as 4.6%.

Market Wrap

Main Pairs Movement:

The precious metal, gold has been on a roll, benefitting from the decline in returns on the US bond yields. At the same time, the US dollar weakened after the US retail sales accelerated in March by the most in 10 months as businesses gradually reopen.

Aussie on the road to higher level, eyeing on 0.7800 amid upbeat Australian data and risk appetite. AUD got power up since NAB March business conditions hit a record high, Westpac April consumer sentiment reached a 10 year high and job creation yet again smashed in March. According to NAB, hours worked are officially above pre- pandemic levels. As a result, AUD is in a very strong stance.

GBPUSD traded in a tight range as there is lack of catalysts to move. Overall, GBPUSD edged up 0.1% today.

Technical Analysis:

EURUSD (Daily Chart)

After EURUSD penetrated 1.1945 level, it well stablizes above the support. The near- term outlook is bullish as the pair has outbreached yearly resistance at 1.1945. At the same time, the pair has climbed above the 50 SMA, opening up a path for EURUSD to accelerate its bullish momentum further north toward the next resistance at 1.2070 and the 100 SMA. Both technical indicators continue to support EURUSD’s bulls as the MACD remains its bullish signal while the RSI is still out of the overbought territory, giving the pair rooms to climb up.

Resistance: 1.2070, 1.2349

Support: 1.1945, 1.1695, 1.1492

USDJPY (Daily Chart)

USDJPY continues to seek downside continuation on the daily chart. As equities rally in Europe, the US dollar faces the pressure against safe- haven rivals, Japanese Yen. The pair looks poised to extend its slide further south as it breaks below the support level at 109.45 as well as the midline of Bollinger Band. Additionally, the pair has officially broken the ascending trend, opening up a downside acceleration toward the next immeidate support at 107.87. At the same time, the RSI is still far from the oversold region, indicating that there are still rooms for USDJPY to decline.

Resistance: 109.45, 111.40

Support: 107.87, 106.29, 104.34

XAUUSD (Daily Chart)

Gold surges above $1760 level amid slumping US bond yields. Gold has eventually broken through its resistance at $1746.91, turning bullish in the near- tern. The technical indicator, RSI is outside of overbought territory in the daily chart, giving the pair rooms to extend further north; in the meantime, the MACD continues to signal a positive move, lending supports to bulls. As of now, gold eyes on the next immediate resistance at $1774.51, where is a critical level as it behaves as a yearly resistance and it is the upper band of Bollinger band; That being said, gold is possibly going to confront selling pressures at this level, subjecting an adjustment.

Resistance: 1774.51, 1790.23, 1825.24

Support: 1746.91, 1676.89

Economic Data

Dear Client,

Due to the changes made by our liquidity provider, we will cease to offer TW50 Index Cash.
The dates and adjustment content are as follows:

We would like to remind you that all TW50 open positions will be closed out one hour before the close of trading on May 07, 2021 (22:45 system time). Please be aware of the risks associated with trading.

Thank you for your patience and understanding with regard to this important initiative.

If you’d like more information, please don’t hesitate to contact [email protected].

Dear Client,

Due to the changes made by our liquidity provider, we will cease to offer Volatility Index (VIX) Cash and US Dollar Index (USDX) Cash, and change the asset class from Cash to Futures.
The dates of contract switching are as follows:

What will happen to my open positions?
Any open positions on Volatility and US Dollar Index Cash will then be held on an expiration and futures basis.
Adjusted Volatility and US Dollar Index Futures positions will then NOT be subjected to overnight financing charges, and instead be subjected to rollover adjustment if you hold over the monthly expiration date, appearing on your statement as “Cash Adjustment-Rollover”.

What is the rollover?
The concept of the rollover is switching the expiring contract to a new contract prior to expiration without asking clients to close their position.

The rollover adjustment does not eliminate the associated market risk between the market close and the market re-open of the rollover date.

What can I do to avoid rollover adjustment?
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Thank you for your patience and understanding with regard to this important initiative.

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Daily Market Analysis

Market Focus

U.S. stocks retreated after climbing to an all-time high. Treasuries fell with the dollar. Oil rallied.

PayPal Holdings Inc. and Nvidia Corp. paced losses among tech companies in the S&P 500, which had fluctuated for much of Wednesday’s session as traders sifted through earnings from some of the world’s biggest banks. Bitcoin slid in the wake of the debut by cryptocurrency company Coinbase Global Inc. on the Nasdaq.

With equities lingering near a record, investors are looking to the earnings season for further catalysts. Expectations of a strong profit rebound have helped markets rally, setting the bar high as reporting gets underway. More broadly, investors are monitoring vaccine developments for any threats to the economic recovery. The Federal Reserve said in its Beige Book that activity has picked up pace amid an improvement in consumer spending.

A quarter that began with retail investors declaring the end of the status quo on Wall Street just ended with big banks tallying surprisingly massive hauls. Goldman Sachs Group Inc. and JPMorgan Chase & Co. — two of the most gilded names in finance — kicked off bank earnings season with revenue windfalls from trading and deal making, defying warnings from within the industry that good times couldn’t last

Market Wrap

Main Pairs Movement:

The dollar weakened versus most of its Group-of-10 peers as solid earnings from U.S. banks including Goldman Sachs and JPMorgan sapped demand for havens. Commodity-linked currencies jumped in tandem with oil and copper. U.S. equities retreated from record highs as a sell-off in Coin base dragged the asset class lower. The dollar also remained under pressure as Fed chair Jerome Powell said the central bank is waiting on price, job outcomes before any hikes.

The New Zealand and Australian dollars topped Group-of-10 peers as an index of commodities touched the highest in four weeks. EUR/USD rises 0.3% to 1.1983; touched 1.1987, highest since March 18; eyes resistance at 1.20. GBP/USD +0.3% to 1.3791; rose as much as 0.4% to touch the highest in a week; pound sees corporate activity around the 1.3780 level as mid-month flows materialize. USD/JPY -0.1% to 108.95; breached support at 109 to touch 108.75, lowest since March 25.

Technical Analysis:

EURUSD (4-hour Chart)

Euro dollar edged up to one-month heigh as well as perfect shoulder resistance of W bottom pattern which 1.1990, slightly down to 1.1979 while market close. At current stage, RSI indicator has breached over bought area to 70.7 figure, suggesting a torrid market momentum.

Moreover, 15 and 60-long SMAs indicator are both setting a ratchet up status. Therefore, combing mixed suggestion above, we expect market could slightly correct currently bullish movement in narrow space which linger between 1.192 and 1.1990. On slid side, 1.192 should be the first support level as head of price cluster for nearly short run, 1.1877 following behind as long run price cluster.

Resistance: 1.199

Support: 1.192, 1.1877, 1.1795

AUDUSD (4-hour Chart)

Once Aussie breakthrough a day-long consolidation in the day market, pair propeled to recently high at 0.7732, trading at 0.7723 as market close. Market fully driven by inflation expection amid U.S. infrustruction plan and prosperity of commodities market. For a critical indicator, 15 and 60-long SMAs has golden cross intraday market which both of them are in an ascending momentum. On the other hands, RSI indicator has approached over bought zone at 72 figure, which denote a binge sentiment. We believe Aussie remaining a rising market for long term perspective pursaunt the terms of aforementioned suggestion.

Resistance: 0.775, 0.78

Support: 0.7694, 0.7656, 0.795

XAUUSD (Daily Chart)

Gold has been slapped by market even market is wagering in inflation hope, currently trading at 1736.4. For RSI view, indicator set 46 figure which suggest a neutral-to-bearish movement at least in short term. On moving average indicator, 15-long SMAs turn south but 60-long SMAs remaining upward trend which give a roam move suggestion. In the lights of suggestion and price action, we expect market will continue neutral momentum in short term which price target in wide range between 1722.75 and 1754.5. For bullish favorable, price should stand above 1754.53 level even further where deem a cogent shoulder of “bottom pattern”.

Resistance: 1754.53, 1759.72

Support: 1722.75, 1678.85

Economic Data

Daily Market Analysis

Market Focus

US stock market rose to fresh record highs and the US bond yields fell as investors bet that a higher-than-expected inflation data will not slow down the economy recovery. The S&P 500 hit all- time high even though Johnson& Johnson vaccine got paused by the US officials with the investigation into a link from its shot to blood clots. All told, the S&P 500 added additional 0.45% to new high; the Nasdaq climbed 1.1% whilst the Dow Jones Industrial Average dropped less than 0.1%.

Bitcoin surged to an all- time high ahead of Coinbase Global Inc.’s listing this week on the 14^th. Major cryptocurrencies turned bullish in force as growing list of companies embrace Bitcoin, even some are still skeptical about the durability of the boom. In one of the most potent signs of Wall Street’s growing acceptance of Bitcoin, Coinbase will list on the Nasdaq at a valuation of about $100 Billion with roughly $343.58 per share. The debut of Coinbase will help crypto currencies move one big step further in public. A successful addition to the Nasdaq will act as endorsement of crypto currencies.

Vaccine Blood- clot side effect put concern toward AstraZeneca Plc and Johnson and Johnson. The syndrome is highly unusual in that it involves increased blood clotting along with low levels of platelets. Thus, US FDA recommended for pause on both companies’ vaccines. As a result, Johnson and Johnson’s share dropped around 2%.

Market Wrap

Main Pairs Movement:

Chinese Yuan extended gain to April high as the US dollar approached a monthly low. CNH was up 0.09% to 6.5418 per US dollar, gaining 0.25% this week. CNH gained strength as investors looked through China’s March trade data, which showed a $13.8 billion surplus. Furthermore, US Treasury Secretary Janet Yellen will decline to name China as a currency manipulator, boosting Yuan.

Crude oil rose about 1.2% after OPEC predicted that a rapidly economic recovery is going to absorb the extra oil supply, allowing OPEC members and allies to proceed with their agreement on increasing oil production.     

The precious metal, gold advanced as the measure of US inflation rose by the most in nearly nine years. However, even with today’s gain, gold remained pressured by rising US bond yield. Gold price usually goes up when inflation becomes a threat since gold is used as an inflation hedge.

Technical Analysis:

EURUSD (Daily Chart)

EURUSD surges well above 1.19, as markets have reassessed US inflation data. The near- term outlook is neutral- to- bullish as the pair has outbreached yearly resistance at 1.1945. At the same time, the pair almost reaches the level above the 50 SMA, opening up a path for EURUSD to accelerate its bullish momentum further north toward 1.20 level, specifically 1.2070, a minor resistance. The technical indicator, MACD continues to lend support to bulls whilst the RSI is still out of the overbought territory, giving the pair rooms to keep up its current momentum.

Resistance: 1.2070, 1.2349

Support: 1.1945, 1.1695, 1.1492

USDJPY (Daily Chart)

USDJPY is falling to convince an upward trajectory and the focus is on the downside; bears seek downside continuation on the daily chart. The pair looks poised to extend its slide further south as it breaks below the support level at 109.45 as well as the midline of Bollinger Band. Additionally, the pair has broken the ascending channel, suggesting a downside acceleration toward the next immeidate support at 107.87. Furthermore, the technical indicator, RSI is still outside of the oversold territory, giving the pair rooms to extend further south. To the downside, USDJPY might possibly confront a obstacle, the lower bound of Bollinger Band, around 108.22, before touching the support level at 107.87.

Resistance: 111.40, 114.55

Support: 107.87, 106.29

XAUUSD (Daily Chart)

A little hesitation after Gold broke above the obstacle at 1746.91 yesterday; today, gold challenges the resistance once again, boosted by a renewed selling pressure surrounding the greenback after the inflation data. On the daily chart, a double bottom pattern still exists indicating a buy and bullish signal. As the time of writing, former resistance $1746.91 now acts as a strong support pivot, possibly pushing gold toward the next resistance at $1790.23. Moreover, the MACD continunes to lend support to bulls whilst the RSI of 52 has not yet reached the overbought territory, giving gold more room to extend further north.

Resistance: 1790.23, 1825.24, 1860.26

Support: 1746.91, 1676.89

Economic Data

Daily Market Analysis

Market Focus

U.S. stocks slipped from record highs while investors weighed the start of corporate earnings season and an influx of bond supply that loom as speedbumps to a roaring rally.

Intel Corp. led tech shares lower after Nvidia Corp. said it’s offering the company’s first server microprocessors, extending a push into Intel’s most lucrative market. The S&P 500 dipped into negative territory in the wake of a third straight week of gains for the benchmark index. In Europe, the Stoxx Europe 600 Index weakened.

Yields were mostly higher as the U.S. Treasury auctioned three- and 10-year notes at slightly lower demand than the previous sales of the securities. The government will offer 30-year bonds tomorrow.

While the U.S. recovery is accelerating, parts of Europe and South America are beset by rising Covid-19 cases and troubled vaccination rollouts. The rotation toward cyclical and small-cap stocks appears to have stalled as well, prompting worry about the strength of the U.S. economic comeback at the start of earnings season.

At the same time, massive government spending and central-bank stimulus could stoke excessive inflation. In an interview aired Sunday with CBS’s 60 Minutes, Federal Reserve Chair Jerome Powell sought to provide reassurance that any surge in price pressures won’t last.

Market Wrap

Main Pairs Movement:

The dollar pared losses as yields hovered near session highs, after 10-year notes drew the highest rate at an auction of the tenor since January 2020. Traders are turning their attention to U.S. inflation data Tuesday expected to show a pickup.

USD/JPY slipped 0.2% to 109.43; pair supported by outright buying interest near ~109.25. EUR/USD +0.1% to 1.1914; offers capped ahead of the 1.1920 pivot level; trading just above the 200-DMA of 1.1900, with support seen at 1.1860; sees trading interest in 3-month call spreads. GBP/USD +0.3% to 1.3742; rose as much as 0.5%, the most since April 5, as the U.K. took the next step in reopening the economy. A close above 1.3751 would be a bullish signal and a hold around that level sets up the possibility for a double bottom with a neckline at 1.3919; a close above there suggests an eye toward 1.4170.

Elsewhere, oil rose with the dollar little changed. Bitcoin neared an all-time high before a listing by the largest U.S. cryptocurrency exchange.

Technical Analysis:

EURUSD (Four- Hour Chart)

The euro dollar continue consolidation in tiny range between 1.194 and 1.1877 which accord our recently perspective, trading at 1.1908 as of writing. Earlier in the day, Eurostat revealed Retail Sales in February increased by 3% following January’s contraction of 5.2%. This data beat the market expectation of 1.5% and helped the shared currency stay resilient against its rivals. On RSI side, indicator shows 60 figure which suggest a bullish momentum for ongoing short term. On average price momentum perspective, 15 and 60-long SMAs remain it upward movement, yet 15-long SMAs turn flat sign.

Therefore, we believe market will still quagmire in a slightly move range. However, aforementional indicator are giving an upward expectation. On up side, if first upper bounder breakthrough, then eye on 1.199 level. On slid side, 1.1877 level of course will be the vital support for first defend level. If penetrate first level, then price will see other lower level.

Resistance: 1.1941, 1.199

Support: 1.1871, 1.1796, 1.1705

USDCHF (Four-Hour Chart)

Swiss Franc is continue lossing it bullish that trading at lower level intraday, hits fresh one month lows, which settle around 0.9221 level while market close. On four hour chart, it is obviously that swiss franc has built up a double head pattern at higher price action level. However, we didn’t see it formed as typical symmetry double head pattern. On RSI side, indicator show 34 figure, suggesting there still remaining a bearish space in short term, moreover, 15 and 60-long SMAs are extending upwind momentum.

Therefore, integrity all suggestion above, indictors expect swiss franc will toward to downside movement. However, we more inclined to form another head price action. On down side, it is sucessively testing month-long lows around 0.922 level currently, so we deem month-long low level will be the critical support at the moment. if breakthrough support level firmly, we see lower price spot. On contrast, if marketplace intend to built up another head which will become thriple head pattern, first upward resistance will 0.9268, 0.9309 is subsequent.

Resistance: 0.9268, 0.9309

Support: 0.922

XAUUSD (Four-hour Chart)

After fail to challenge stand above the head level of “W shape” pattern, gold is continue tamp down to lower level in the day, trading at 1732.75 while end of day. On RSI side, indicator drop below to 42 which suggest a bearish momentum ahead. On the other hands, 15 and 60-long SMAs indicator remain a ascending trend, yet seemingly turn flat.

Combing suggestion above, we foresee marketplace will continue it bearish movement. However, we see 1722.75 level should be the first and cogent barrier.

Resistance: 1754.53, 1759.72

Support: 1722.75, 1678.85

Economic Data

Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ” .

Please note the specific adjustments as follows:

If you’d like more information, please don’t hesitate to contact [email protected].